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pnrpos~ o! er~otinq t~nited atat.~a Poat Ol~iv~ baildinQ~ oa ~ads
_ psrosl o! real FroPertt de~cribsd ia 8ohsdale "~?"t t~ advauoe ~
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of anch sion~sya to b~ arad~s as follats,; to xit: ~tin~stp live
T'l~u~and Dollara t$95, 000.00) on the date thia instrueisnt is
siq~ed, the s~earaininq ~to Stia~r~ed ~ilty 11ro s'6onsand Dollara
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- ~ ($252,000.00) to be diebureed durinq tbs conrse o! vonstrnation l
~ up~a rsceipt of the ~rchitect~s ._~certified statesent.s ars to maah
buildinQ el~riaq ite~as of r~ork acc~oa~plishsd in accordanvs rith
~ ~ tbs Build~sr~a drar schedule or a psrcentaqe ~tl~sreof:~ tan per oent
~ ' of tbs asount sho~ra to be dws by eaid certi~ied 71rch1.tect~s
statemente shall bs rstain,sd by lbrtQaqee aad disb~uraed npon
, ' caRpletion of aaid t~ited States past .Offiae b~ui.ldinqe. All
- . moneps eo advanced shall bsar iatersst at tl~e rate o! aiz per ~
- ~ ~cent (67~) psr annus fraa the data o~ tke advancss~ auch ad-
vanaee, toqether rrit2~ intere~t t~ereon• at no time to ez~oeed
the aw~ o~ T~ree $nn~lred Fortp Savan '1'honaand D~llars
~ ($347,000.00) v2iich ie secnred ~ereby. In addition to tbi.s~ ~
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limitation~ the advanaee as to the Leesb~ts~q ]dni181nq shall n~ot
ezoeed $125, 000.00, of `rliiob anm $ 37, 000. 00 has b4en this dap
. _ advancedt the advanoe~ as to the ~ort Pieros b~nildinQ e1ia11 nat
ezoeed $222,000.00, of tirbich eu~~$58,000.OO~hne been tbia day
- =~,..,~a_ `~~ete_ m~o~q of ~hieh ie attacbsd hereto aa E~cchib~it
. "B", in tbe ama of $125, 000.00, vhiab ia ~oa8~e payable on Oet~o-
~ - ber 1, 1964, ia made and e~oecute8 to evid~e~ce the advanoes tv
be made for tbe conetrnetion of ths Leeabnrq bnildinQ, an~d the ~
~ l~ote, vop~ of which ia attacl~ed as ~ibit "G', in the sw~ of
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: ~2Z2,000,00, whi,ch ie made payable on Ootober 1, 1964~ is mads
and ezecuted to evidence tbe advaneee to be made for the oonatroio-
' tion of tbs lort Pieroe baildi~. ~ .
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~ I'r I8 AI~80 ~R88.4LY J~ORadD thst tl~s !bs'tqaqor ~ball
at t~s tim~e~ of the firet advanoe to bs aad~s bez's- ~
~ - nnder pravids an inanranoe polia~ caverinq each
~ . ~ buildinq as oonstruated to such data aqainst los•
or daiaeqe by fire dnrinq the period of oonatroction
~ in an amount sufficient to co~ver all advances to bs
~ made dnrinq euch couatruction.
~ IF construction of t.he buildings ia twt carried on
~ xitb reaeonable diepatch or sl~nld be diacontinned
- ~ at suy time, the l~rtqa~qes may proteot or co~plete
. ths b~uildinysf .if any meclLnnio's lien or liens
' ehould bs ~iled ayainst either o~ ~aid pre~nisea,
snob ~brtryaqes m~y retaia or deposit on behalf of
t,hs M~rtqaqor xith tbs Clerk of the Circuit Coust
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