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S1. LU~j[ CC~"'Ht HA.
'wrltteu .otic. to ,.. S.Cl.',- wlt~l. tklrt1 4.,. '..r..t\.r~
r~quir. that the .~t!ro .....t .r a ,.r~l.a t..~.f .. applied bl
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Iterce t. ,ball b~ .a4~ 001 Y "'POD COllapl i nee w1 \.tl ths follo.hul cun-
I dB.ions at t.ho tl.tt of eeell .uu:h applieatl<CJn: (8) tb. OWlUH'1 of
_ the pre.i.liel abovo ro!errod tQ ,h~ll be \,In.if~ct.rl by ~Ulr haol,- I
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veney orbau&ruplcy procoedin9, aPd shall not hav0 ~xe(ut.d .BY I
a..1Qna.nt for tho bonoflt of crodltor., (b) tho a.ount o! oach \
Auch appllCftLlon to int~ro~l shall be secured by the MQrt~.Q. and I
shall, t.o t.he .~t1sfl!ctlon of t.he S(.H.:i~l)'t I coufuel, CODIt.1t,ute a~,\
v&lid first li~n upon said preMise, aa evidenced by .ueh Litle
e.li.a~in6lli)n lHld ot.h~r ovid~nc~ e~ tho SOCi0t.y .. iI' 1116Y r(lquire I
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and (e) all 6~pen~D' of the toro~oioQ shall b~ paid by the WortQa- I
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I 'Jodi and, fur-ther', the Mort.Q~\lcr m&y l:!t eoy ti.e by ~riltf;!n not.ic1
' to tho So<loty r.quire th.t Any c~..~il 10 ..Id Account b. epplled
~ on unpaid i06lo1mont.s of prindP6~:;r~~(~ the inverso OrdtH of lht'lir I
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I maturity. In t.he eV!'lot of BU)' deflwlt hereunder or ~ndvr ~..ud i
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[1 !!Jlor'LlJlilJtll' , the Socioty !lttiy at its opLion apply ony credit in the
~ Accourlt in pll)-ment of any part of the indehtednou. which ift then
~ duo find pllyabl eo, 11 At any time I.h6 crodi t in tho Accounl {!qua 15
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~ the totli! ti~Qunt of the indebf.ednes,. the Society shall immediatel"l
i opply .uch uedU Ie 1"1"001 thornol, 10 tho .voot '0 owner o! H"
~ premiu'!i !!ubjcr:t to the 1 !en of Hdd mQi'\.Qayoi.5 $hall make ~n t15tiiJl1t
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~ r:icnt for t.ho iHHH.dit of creditors ()r become vQluntarilv or in- I
ft . I
~ 'Voluut8rily 6ubjtlct to the tf.:lot'fal bankruptcy lfjw or to an)' stale !
lor federal statutoe ol similar u6turc now or hereafter in 6ftect, j
': then the Oc(,urtcnctl 01 such ~Y(\nt shl"til of end within itsolf and I
I wi thout .oy fudh.r oct .nlom.Uc.: 11 .p.r.te .. '0 .pplic.Uon Of'\
~ !) u c her cd i l 0 n I.l C C v u n tor 11 Bid i n de}} t c rhHHdl . I
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~ 5. fhi'lt the MortQ8goi is flew t.he OfflH3f' of t.he preiS1if.nHi upon I
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l~' which th" [!\ortqayei hereinabove ref~Hr(;d to create valid OClit litH.!
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I icp;ond 11008 lor t.hf; total principol indebt.adn0&S sptH;lf1ed abovf)
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I in por.yr,!,h I, wUh inter..' thor... .t tho r.t. above 0.1 forth,
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