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;.. Thai ill Ibe cvellt 01 a luil briuK wstilule,", lu I<"~je ihil ~'.!.~~e. Ite P,tOJ'~&MU .h..1I be enlille,", 10 applJ al any liulc durill~
.",h I"redosuu I..il to the court b....,inii: judillliclion the~1 b, ,I.. ~If>i\~~'" bc.ll6 vtr of ail and ,iniular tbe mortii:aied property, and
'of all rentl. incom... :>I.:lfiu. illuca and revenuet tLeer;>f, f_~CJ:. 'l!fa'hU: and ther~upon it i. bereby upre1lly covenanted
and aireed tbat tbe court Iball forth""ito appoint .ucb receiver with the u.ua plweri iitfd dUliet of nceinn in like CU"; ..nd ..id ap-
pointment .hRlI be made b)' tbe court at a nUlIer of Ilriet niht to tbe Mortaaice, &lld wilhout reference to tbe adequacy or inadtquacy of tbe
vallie of tbe property bereb)' rnorf&aiN, or to the IOlvellc)' or iruolvcDcy of tbe M,jrtiaior or any other part)' defendant to .uch luit, The
MortgaiOl hereby lpecifically \uivca tbe riabt te. object 10 the appointmenl of a receiver .. Aforesaid and bereby cxpr'-s.I)' con.entl Ihat luch
appoinlllleul .hall he made a. In admilled equil)' and u a maner of ablOlute nibt 10 the Morti&gee and that the ume ma)' be done \~ilhcUI
notice 10 the Mortg&&oc.
6, Tbat if anI proceedinj;1 IbOllld be inllituted aiain'l tb~ propert)' covered b)' tbi. mortiaie upon all)' olher lien or claim wbelber
,uperior or junior to the lieD of Ihi. mortgage, the Mortgag~ ma)' at ill o:>lion immediatel)' upon in.liluti"n of .uch ,uit or during Ihe pend-
em:) Ibereof declare Ihi. mortg~ge and t,",e indebtedncu .ecured hereby due and paJable fortbwitb and ma)' at it, oplion procee.\ 10 foreclote
this mortiaie,
7. To pa)' all and'lingular Ibe collI, feet. charget and expcn... of evrr:: lind. including the cool 0/ all abllrad of tille 10 lIid land.
found 10 be convenirnt or eXfedien! in collneclion wilh an)' Il.it for lbe forcclOlurc of thi. mortgage. and al.o including. wbetber the Mortgagee
i. obligated 10 pay ame or not. re..onable attorne)". f<<l, ir.curred or expended at an}' time b)' the Mortgagee becau.. of the f..ilore of Ihe
Mortgal>or 10 perform. compl)' "ith and a'>ide b)' all or any of tbe covenants, condi:ion. and Slipulalion. of lIid promi~or)' nOle, or this
morlgage. in the foreclosure of thil morlgag= and in coll<ctini Ihe &mounl aceured hereb~' wilh or wilhout legal proceedings. and 10 reim-
hObe the Morlgagee for cHry payment made or incurred fOr an)' .ucb purpose with interr~ from dale of every luch payment al Ihe rale of
eighl per cent (8'70) per annum; sucb paymenll and obligations, witb mter"t thereon II aforetaid. .ball be .ecured by the lien hereof,
8, To keep the building or buildinga no'" 0: hereAfter on .aid land ir'lured all:ainlt lOll or damage by fire. extended coverage and
otber perils in a .um not letl than Iheir full inlurable vallle at tbe coot and expen.e of the Manj{aior in a company or campani" approved b)'
Ihe Mortgagee. the policy or polici., to be held b)' tbe MortKagee. and .ucb policy or polici" of in.urallce .hall ha\'e affixed thereto a Stan,
dard Ne.,' York Mortga~ Clause, making all 1011 Or 101le. under .uch polic)' Ol' polici<t paJable 10 Ihe Mortgagee at il. inler"t may appear.
and to deliver ...id poliC)' or polici" 10 the Morlgagee wben isaued with Ihe rcee:plI for the pa)'ment of Ihe premium :herclor; and in Ihe event
all)' lurn of mone)' becomes pa)'able llnder .uch polic)' or policin. the MortKallee .hall have the oplion 10 rceeiu and appl)' Ihe lame on accounl
of Ihe indehledne. .ecured hereb)' or to permit Ibe Morlgag:>r 10 receive and u.. it. or any part tbereof. for other pm pos cs, wilhout tbereby
'V3iving or impairini an}' equilY. lien or right under or by virtue of ,bit morlgage; and the Mortgagee if il deem. nCl'e.ury may place and pay
for .llcb insurance. or an}' pan therwf, witbout losin", wllivina cr affcctini Mortgagee'. option to foreclose fnr breac'h of this coven ani. or an)'
part Ihereof. or an~' riiht or option under thi. mortgage. and ever}' such paymellt .hall bear inlu..t from date thereof until paid at the rale of
eight per crnt (870) ~r annum. and all such paymtnll with interett as afor"aid .hall be I<cured b)' the liUt hereof. In the event any loti cr
damage il ,uHued MortgaiOr .hall notify Mortiagee of such loa or damage wilhin forty-eight (48) hOUri after the happening thereof; Ihe
faIlure to i' Ve sucb notice .hall conllitute a default and the Morli.ice .hall have the righll herein given for ail defaulu.
9, To permit, commit or suffer no waste and to maintain tbe improvemtlll' at all timet in a .Iate of good repair and l'Ondition; and
to dd or permit 10 be done to said premi.e. nothing that will alter or chanie the USe and chara,ler of ..:d propert)' or in an)' way impair or
weaken Ihe securit)' of said morliall:e. In cUe of tbe refusal, neglect (ir inability of tbe Morrgal:or 10 re:>air and maintain ..id property. Ihe
:>'lorlga(:,ee may. at itl option, make luch repain or cause the .ame to be made and ad,'ance monics in Ihat behalf which Illml Ihall be .ecured
by the lien hereof lolnd bear inter"t at tbe rate of eight per cent (i%) !"<f annum.
10. To deliver the abltract or abllTacll of title covering the mortiaged properry 10 Mortgagee or ilS designaled agelll, which Ihall al
all limcs. during the life of thi. mortgage. remain ill the posscalioil of the Mortgaiee and in e\'ent of Ihe forcelo""e of Ihil morlgage or olher
Ir;uufer of litle. all right, title and interett of the MOrlgaiOr in and to an)' luch abolra" or 3b.tract. of title .hall pa" 10 the purchater or
gr antee.
11. Thai DO waiver of any covenant herein or ill Ibe obliiation .ecured hereby .hall al an)' time hereaflrr be held 10 he a "aiver 01
allY of lite other term. hereof or of the Dote lecured hereby.
12. That in order to accelerate the maturity of the indebledn... hereby .entred beca".e of the faillJte of Ihe Morlgagor 10 pay an)' tax
a'SeSlmeDt, liabilit)'. obligation or encumbrance upon ..id property "I herein provided, il Ihall nOI be ncccs,ary nor requnite thu Ihe Mortgagee
,hall fint pay the urne.
13. That if the Mortgagor .b.1I fail. neglect or refu.e for a period of Ihirty PO) da)1 fully and prompll} to pal Ihe amounl' re-
'Iuired to be paid b)' the n()(e hereo}' lecured or tbe inlerell therein .pecified or an} of tbe sum. of mone}' huein referred 10 or hereby le-
cured. or olherwi.e dul)', f"II}' and promptly to perform, execute. comply with and abide by each. every or any of Ihe covenanl', condilions
or Ilipublion. of Ihi, mortgage, the prominor)' n()(e hereb)' lecured and/or the construclion loan agreement. if an)'. then. and in eilher or in
any of ,uch e\'Cnll. wilhout notice or demand, tbe uid aggregate sum mentioned in uid promissory n?le. less previous paymenl., if any. and
an)' and all .ums rnenlioned herein or lC1:ured hereby .hall become due and payable fortbwith or Ihereafter at the conlinuing option of the
Morlgagee II fully and compie:ely u if .aid aggregale lum. Were originaliy .tipulaled 10 be paid at lucb time, anylhing in said prominor)
note or herein 10 Ihe conlrar)' nOlwithstanding. and Ibe Morlgagee Ihall be elllilled Ihereupon or thereafter without notice or demand 10 in-
.tilule .uil Alia" or in equity 10 enforce the nibil of thc Mortiaiee hereunder or unde~ sai,j promillar)' nOle, In Ihe evelll of an}' default
or breach on Ihe par! of Ihe Morlgagor hereunder or under laid promi'lOry note. the Mortgagee .hall have Ihe conlinuing option to enforce
pa~ ment of all 'Um5 5ecured hereby b)' action al law or b)' suit in equit)' to forec!o<;e Ihil morlgage. either or oolh. concurrentl)' or othen.i.e.
and one action or 5\lil .hall nol abate or be a bar to or waiver of the Mortgag<<', righl to iDOlilule or maintain the o'bei'. provided !lid Mort-
gagee 5hall hl\'e ollly one pa)menl and sali.faclion of said indebtedneu,
\4. That in the event Ihlll Mortgagor ,ball (1) conlent to the appoinunenl of a recei...r. Itu.lee or li'luidalor of all or a lobstantial
parI of Mortgagor'1 a.ets, or (2) be adjudicated a bankrupt or inlOlvent, or file a volunlary petition in bank(uptC\,. or admit in wriling it,
inability to pay il. debu II the)' bceome due. or (1) make a general a..ignrI'ent for tbe brnefit of credilors. or (4) file a pelilion or answer
..eking reorganization or arrangement with credilor.. or to take advaolage of any inlOlvenC)' law, or (5) file an an.wer admilling the ma-
lerial alleKalion. of a petition filed againtl the Mortgagor in an} bankruptcy. reoq~anization or imolvency proceeding. or (6) aClion .hall be
laken by the Mortgagor for the purpose of effecting ani of Ihe foregoing, or (i) any order, judgmenl or deeree .hall I:c elllered upon an
application of a credilor or Mortgagor b)' a court of competent jurildiction approving a pelition ,eeking appointmenl of a receiver or truslee
of all or a .ub~tanlial part of the Morlgagor'l auell and 5uch order, judgment or decree .hall continue un51ayed and in effect for any period of
Ihirty (30) consecutive days, Ihe Mortg,gee mel' d~l!re the no!e hereby ~c.:ured forth\vilh due and pa)'able, wbereupon Ihe principal of and
lhe intere,1 accrued on the note and all Olher .um. hereby lCCurerl .hall become forthwith due and payahle II if all of Ihe lIid .um. of mO'le)
were originall)' Itipulaled 10 be p~id 011 .uch day; and thereupon Ibe MortlZagee without notice or d!mand may prosecule a .uil al law and/or
in eqoil)' II if all monics .ecured bereb)' had matured prior to it. inllitution,
IS, That the Mortgagee or any penon authoriled by tbe Mortgagee .hall bave the right 10 enler upon and inlpeel lhe mortgaged
premi.e. at all re..onable limes,
16, Thai an)' .um or .um. which ma)' be loaned or a-lvrnced by the Mortgagee to the Morlgagor al any lime wilhin len (10) y'ears
frmn the d.t. of thi. indenture. togelher wilb interelt thereon at Ihe rale agreed upon at the time of 5'Kh i03n or advance, .hall be equally H'
,.,,,,,; "ilh and han the .ame priorily a5 Ihe original indebtedn... and be 'l'bjecl 10 all Ihe lerm. and provi,ion. of this morlgage; provid.d,
1;.~llhe aggregale amc.unl of principal oUlstanding at an)' time ,hall nOI euee.l an amounl equal 10 'me hundr~d and fift" per cent (150'lr) of
the principal amount originally ~ured hereby,
17, Thai, if required b)' Mortgagee. the .aid Mortgagor w ill pay 'unto Ibe Mortgagee, on the lit>1 da) of each and even tun.ecuti...
monlh, a '.Jln eqllal to one-Iwelflh of Ihe annual amount nee"..ry to pay all tax.. and a!~e..menl' aKain5l th. ,lid mortgaged premi.CI, ui..;
InfJlllhly S'lIn 10 be estimated and calculaled on the amount of taxe. ul,eued againsl said mortgaged premi.es for Ihe previolll year, and il
funher required b,. :>'fortgagee 10 pay all insurance premiums in manner and form al provided herein for Ihe paymenl of taxe. and ."enmenl!,
18, Tha: ill the evenl Ihe loan which Ihi. mortgage i. given 10 .ecur.- i. made for Ih. purj>O'e of financing either the con.truction
of new buildings or Ihe conslruction of improvemenl5 and/or additions '0 exisling buildings, Ihe Mortgagor, if re'luired hy the Morl;:agee,
opres.I\' agree! I? deposit wilh Ihe Morlgagee or il. de.iv.nated a~ent an a.nount of money equal to Ihe difference bem.ten the nel proceed.
"f the IOJn ~nd Ihe lotal affi<1unl, a, delermined b, Ihe Mortgagee. required IQ ;u1\)' complele nid constnlclion in accordance wilh the plan!
~nd splcificalions heretofore 5ubmilled b)' Ihe Mortgagor and approved by the Morlga>;ee, S~id amo",,1 of money .hll.ll be placed by Ihr
:>'forl~agee in a "I-,pns in Prnce.. Accounl" in the name of .she Mortg~gor. and the lame .hali be ",.1I I" the Mortg.gee 10 pay Ihe cost.,
,'har;;.. and cxpen!oC~ incurred in conneclion with said construction prior to dilbursing of thi, loan, Ir i. further agreed thai in the ever.,
.ai:1 construclion i. nOI fu1\)' compieled on or brlore the date .lIted in the Cor.st""tion 1-03n Agreement or in the evenl that Ihe work OIl
.aid comlruclion .hall Celse before f,,1I completion anti such cenation .hall continue f',r a period of lell (10) days. or if ."b.tan,ial continuo",
progre" .hall 1101 be made in luch con-rruclion. Ihen alld in an)' such even! the uirl aggregale slim. principal an,l inlere't, mentioned in said
promi,,'),~ nole. anti ~Ii monit1 .e<,,,,..d herebl, .hall become due and payable forthwilh or Ihereafter, al Ihe oplion of .aid ~fortgagee; Ind in
the n'~'!l of ,uch cessation of \\or,'pon said cOlISlruclion for a period of len (10) days, or if substanlial conlincou. progre" shall no: br
made III "JCh comlruelion. a5 aforesaid, the ~Ic,rtt.agee may at it, oplion enler into and upon the Mortgaged premiSe! and c~mplrte said con,
,trunion in "Jch manner a.5 it dee,n< advisable "ith?,.1 alw interference from Ihe Morlg3gor; Ihe .aid ~Iorri:agor herebl' gi,'ing and granlin!:
If} lhe \f?rlgaget fu1\ PCW<T anll J'llhorit~ 10 n'3~e "Jlb entry into and upon said mortgaged premi.". 10 enler into .uch conlrae" or Ar-
latl~t"ll(nts ..~ lHal,' bt nt('t"~51a'.\. tll . f.I~or,lttt ~3ilt Cf)j-Jstrllction, and to e.xptnd an\' m)llit5 rtltlail1iug in ~Ji,1 "I.O.lil' ill Prort~.. :\fY(;Unt" and
.n :.ddition dny ~urn. of ,nont..- nt,-.!!ar,- tu complete !~id '-""'lrllction; and aliI' amI all monit, exprnded b, Ihe ~forli,::a"e< in ,unllectie.ll
,,'ilh ;',.-h completion of construction in nc<,. of Ihe rnonie~ in ;aid ''l-Oans in PrG:os Accu:,nt" shall be add.d to tht .aid poneipal ,!ebt an,l
,hall draw intentl al Ihe rate provided in said promi!sory nole, and shall he secllred b\' lhil mortgage, and .hall be pa)'able bv tht Morlga~or
'111 drmand.
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