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Tba la t6e ereat oE s~uit Dda~ Imdtuad M t~aela~ W~ eatp~ tM l~~t ~q b~ ardtMd ~o ~p~r ~t sq~ ds~e du~
~ueL ioralosnre ~Wt es t~e oourt haria; juriidictios t?aeof ht tM ~ppotutmeot of ~ ra eE all sed ~iu~ulu the moets~s~d P~v~V. ~
ef dl ra?b. irooeoar Pr'ofw. ia~~ua ub re~ua tler~ot, t~ w4aeoe~a sonrc~ dat~ed; aad t6ereupoa it b Leseby acpcealr co~enaated ~
and ~t~eed that tbe oouK ~6aU torthwit6 appoiat ~uei roai~ru witk t~s osua) powera and duda o~ recd~ees Io Iit~ atsa; aad uid ap~
poiaaneat s6a11 be made b~ ehe court u~ maaee ot ~trkt ds6t ~e cM aod wit6out refsnoce to tAe adcqwqr or ia~deqw~r ot t6t
value of t6e properq? hec~~r mo~tp~ed,, ot m tLe wi~enqr o~ Iwoheoq oE or ao~ ot6ea~tq dsfeudaae co sucb wJG Tbe
MoKga~or bereb~ spaiGcall~ w
rd a tbe ~tsht to ob~eet 1s tbe ayp~citeseot of a retdlns ~s afonutd aad 6ereby eaprealy oooseatr~t6at ~ue6
~npoa'~t.e
t~o t~°b~e M,ort~
de as aa ad~aitted cqulqr ~od as a taatter of ab~oiutt rI~Dt to tM Adorc~Ce ~nd that cbe same aa~r be dooe wItbow
6. 13at it aqp p?oce~cdlap ~Lould bs Instituted spta~t t6e ptopaq os~ered b~ ebii mortp~s opon aa ot6er Iten o~ et~iin N6echu
~u~toe or jwuor co che lieo of thts aar~a~ the Mortts~ee my a ia opcion immediaa(~r upon iauitutioo ~sueh sWt or durtas tAc peod.
eaqr thereof dal~ue this n~tsa~e aad the indebtednea secu~ed bereb~ due aad pa,raSN to~thrritb aod ma,p at fts opdoa pioeeed to tonclo~e
this mo~t~a~
To pay aU and ~io~ lat tbe oew` fca, char`a aod ape:aa of e~rer~r kind,.indudin~ t6e oat o~ an abstract of dtle to ~sid landt
touad to be conrcnieut oe a~pedieat in oooaeetion with an~ suit for t6e focecbsure of thb and atp tnetudin` w6etber t6e Mat~a~es
is obtigatcd top~ same o~ not, ra:oaab~e attorne?'!~ !ea iaeumd or espeadcd u a~ ~ Mortta~ee baawe of the tailure of the •
Mortga~or tope rfonq oanply wit6 ~nd aDide by all or an; of tLe co~eaanb. ooadidoo~ and pipulubm of said promi~oq aote, or tLis
enoct~a~e, ia the foreclosuce of ~lis mortaage and ia oolteehns tae aaount ~eeund Leiebr ~+it3 oe witLout lepl pivetedin~ aad to rdm-
burx ebe Mosc~~ce for erery parmeat made oe Ioeurred tor aqp sueb pu~pae wIt6 interat trwa d~te of e~er~ web pqrmeut u tLe rate of
, a~bt per eent (t9fr) Pa annnm; snc4 paymeots and obUQatiao~. wit6 Interat thercon as aforaatd. s6ali bs ~awred bf the Ilea 6eneof.
i. To k t6e buildtns or buildinp now ot bereafter an said land ip~red ataiaaR to~ os damate 6y fice, ezteaded oorera~e aod
o[ber perib, iact~ng ne~ ~slc i~ennee !f a~ailablq ia a sun? na less t6an thdr fuii iosunble ~alue at the cost aad ezpense of the Mort-
gagor iu a oanpan~r or oompania appro~cd by the Moctaa~ tbe polie~r oe poUeia to be 6eld by tbe Mo~ aad sueh polic~ or polida of
insunnce s6a11 ba~re af~i:ed t6aeto a Standard Nrw York MaKgagee Claus~ maldas all IoM or lo~sa uader s po1Jt~ or I~da
the Moctaagee as ib irttcat may appeu. aad oo deli~er »id ~r~~e ~
Po~7 or polIda to the Mott~a~te wben i»ued w(t6 the reeapes for t6epa
y?
meat of the pranium t6e~cfor; and in t6e treat an~ sum of beooasa payable uadu such potic~r o~ polida„ d~c Morcgagee rDall bare
~ the option to ceee~n and appl~ tbe same oo aooouot of tbe inde~ sccured bereb oe ro ranit tl~e M
pa~t thereof. fo~ ahee purpose~, witlout tbereb~ wairins oc im u 7 P~ ~t~Ns to recei~c and we it, or aay
tLe Mortgagee if it deam necaaa ma pta~e aad ~~°~d~ u~° oe n t aoda or br dm~e of cbis moKgage • aad
4 7 pa7 for sueb irnun or an7 Part tbereo~ wnthout lain~. wd~tng or affeeting ~Ioet~- ~
gasee's optioa to foralose tor breae6 of sL~s oo~enany oe an7 put tber+~~ oe anr riBht or opdon under tbis mortga~, and c~r such ]
meat shail bear Intemt from date tLereof uatil paid u t6e rate of eig6t per ewt (=y(rj per am~, aad a11 sueb QayaKnes M'
b Intcrat~a '
• aforaaid shall be seenred by the lien bereof. Ie t6e e~eat any ba or damase b sv~hrcd Mo~asor s6ap aotify Mortpgie of such loas or
damage ~+i~hia forer-eight (4!) Loua after the happeniog t6eeeof; tLe fsilute ~o ~I~e su~h ooda s6a11 ooo~tiam • defauh aad t6e Mottta-
gec shalt 6ave tbe n~hp Leceia given for aU defanlb.
9. To paa~iy oommic or affer na wasce and co m~iaeain cbe Lnprrwemeno af ari ~sa ia s scm a~ sood repatr and ooadiaoa; aad ~
to do orperrnit to be dooe to said prami~a nothias t6at will dcer or ehange the we ~nd ebsneta of ~aid propaq or In anr wa~? Lnpair er ~
wer~km c~e.secudq~ of said moctgage. In ca~e of t6e refu~al. ne~tat or iuabttiq of the Mort~r to e~epair and maintain satdpropertp, the '
Morta~gre wa , u Ib u~
br tbe lita herreoE aod ba~interatkc at tbe ra~te oE ei~ht Pet centi%) p°~~e
~ ad~anee moota in ebat bchalE w~h ~wns s6a11 be secured ,
10. To ddi~rer the abstraet o~ abtraces of tttk oo~erin8 the mort~a~ed P~oPert~? to Mort~a~ee o: la dai ~
all tima~ during the Ufe of tbit morqg~~, rnnata In tLe il~~ w6ie6 s6a11 at ~
craasfer of ade. all ri~ title and Interat of the bio~or~a d to~any~su~c6~aberaet oe ~bstraeb of dtle~abaU pw ts
t~p~ccbaser~or`
1
Il. That as waivet ofaq~r conentnt 6erein ot In t6e obltsati0n secured 6ereby s6atf at aq~ time ba+taher bt I~eW to be s wairer of ~
anr oE the aher terms bereo~ or of t6e mee secured Laeby I
!2. TL:t iu eid"er 1o sooderate tLe mstnrit~ o~ tDe iodebtednai 6enbj ~eenred beeau~e o~ t6e f~ilun ef tbe Mo ~
a~ameat. lisbiliqr. obli~atioa ~ encwobraace npon ~aid gropay a 6teeia pro~ided, h shaU aot be neea~acy aor requisi~ tbewMortiagee
s6a11 ~nt pa~ tLe smne. +
is. T6at If t6e Morep~or s6tU fail, .ne~lect or refws for a period of tuieqr (~o) dsYr fullr .nd peompcly eo pay t6e amo~mn ra .i
0
quired co be paid b~r tLe oou berebr secured or the interat ~erein ~pedfied or aqy ot tLe uam of moeey berein refereed to oe hueb~ ~
eured. or otherwix dul~. fulb aud P+'~ r m P~~~. ~~G oomp1~ wit~ snd sbide~r
or stipul:6aa of tLjs mor~ssgq tbe promu~or~ note Daebj ~ecnrcd and/or t6e oooatnKtion loan~' ~n or enf of tM en~ma~ cmditiona
an~ of suc6 evmq, witboac naioe or demand, che saids~e~te sum a~entioned in »id poomiwoe?~ i pn
rfo
~ ana tn dt6er or tu
aar aad alt :ums mencioaed herdn or secured bereb s6all beoome due aad P~7~ it aa7. aad ,
Mo as full and oom ktd as if said r W7~le foetLwul? or tberaka at t6e oontiauing opiou of tLe i
~8a 7 P 7 a~ate ~ were originallr ~d~uulated to be paid u sue6 t~e, an~t6iag in sud Promi~ory'
note or 6erein to the oontrar~ ootwit6sa~adin~ and t6e Moagagee shalt be matled tbernepoa or tberaher aitbont notice or demsnd to in•
uitute suit st Isrr or in qto mforee the ri~Ats of t6e Moetga8ee Lereunder oe under sa~d
or brcaeh ou t6e paK of ibe Mortgasor hemmdv or under said ~01°~0~ O0~' I° the e~r~°t of any dcfault
P~nmiborq note. tLe MortBa~ee s6di 6art the ooedaning optioo to mforoe
pa..ment of d! sums seenred berebj bp aaiao at bw or b~r suit inoQ mt~ to foralae t6Is nwrtp~r, dtber oe bat6. oooenrreadr or otberwi~
and one actioa oe auic s6si1 aoc abate or be a bu ~n or wa~nr of t6e Mortaagce's ri~bt ts imtitnte oe maintain tbe a6er. pro~ided ~aid Morc-
gsgee s6a11 Iut~e ooly one parment and tatisfaettoo of said Indebttdnes
14. T6u in t6e rr~t ttiat Mwt~a r shall (t) ooo~ent t~o tbe appoFat~seat af a r+eoei~er. uoita er liquiduor of all or a subaanrial ~
' inabili aseq, oe (2) be ad'~ a baaiQUpt or imol~t. or 61e a~o~l~mtar~ petition in b~nkrupccr. or admic In writins Its i
t~? P~7? ib deMs at t6e~r beoome ~ne, or (f~ make a~eneral a~si~omeat for tbe bmc$t of eaditoen. or (4) 8!e a petidoa or aa~wa
seekiag reorganiucioa or srraaamunt aith tecditon~ or to tate ad~anage of aay ~asol~ene~ law. or (S) lile an amwer admictia6 tbe mr
terial allegatiow of a paition fikd aaaia~t the Mort~amor Ie so~ baniwpccr~ reor~aniudon or ia~ohenc~ proeeedin& or (6) aetion s6a11 be
taken by the Moetgagor for tbe purpae of effertiag of tbe forewin& or (7) aar arder. 3nd~eat ot dseree sLall be encered upou aa
application of a cred,tor or Mortgagor by a coun of oompecait~urisdiction app~riAg a petidon seekia~ appoinemrnt of a recei~er or trustee
of all or a suMtantial part of tbe Mortga~or's asets aad sne6 o er. jud~aent or daree s6a11 oondnne uasta ed and in effat for an~ period of
~Liny (30) coa~cud,?e da~ rbe Moacgsgee mar datare ~he noce 6erebr secnrad forcb.+ic6 due .nd pi~ab~e. whenupou the prindpal of and ~
the interm aarued on tbe note and all ather sum~ 6ereb~ seeuced s6ap beooa~e tortLwitL due aad psysbie ss if all of t6e said sums of moaey
~.ere ori~ndly stipulated w 6e paid oo sucb dar: aad thereupon tbe Mortgagee witbout ~wtia or danand ma~ peaaute ~ wic st law and/or
in eqnir? ~s if all monia sanred hereby bad matured prior to ib imticutioo.
1S. Tbu t6e Moetaasee or an~ pe»on ant6orised b~ t6e Mottgaase shatl 6s~e tLe rt~t eo enter apoa and [osPat t6e mortp~ed
premisa at a11 reasonable tima. -
16. T6u an~ sam or suu~s wWc4 may 6e baned or ad.anced br d~e Moe~p~ee m d~e ~ocr~.~or u an~ eime wle6tn un (io) ~esn
from tbe d:te of this indeaturq to~etber wit6 iaterat t6ereoo at the rate agreed upon u tbe time of weL lo:n or ad~aoce, shalt 6e eqwll~ ~e-
- cured v.ic6 and ba~e tbe ~ame prioriry as the origind iadebtcdnas and be sub'ea ~o a11 t6e tern~ aad p~i of t6is
d~at tbe aggre~ate amount of principai ouo~dndtnr u an~ time thall aot ~ aa amou~t eqwl to one bundre~d
and ~ift~ ~ o~f
t6e prinapal amouat oripnaUy sceared Lereby.
17. 1ba~ If reqmred bp Moetgag~ tLe ssid Mort~yor wIp pq m~o ehe Meets~ oo t4 Sest day of aeb and e.eer eo~aeenBve
month. a wim eqwl to ak-twelhL of tbe annual amount oeoataq b pq atl ta~es ~od areamaus apimt c6e uid ~~ed premiae~, ~aid
tnonthl~ sum to be atimated solely b Mostrsaee and eakulued to be aa amouat not laa tbao eLe ~mouot of tases a~ased against said moet-
~ 6sY~ Pramisa for tLe pre~ions r,. ~nd if fuctLer reqnired bp Mortga~ee eo pap dt insnsana peeminou in manner aad form a~ pro~idcd
herein for the pa~ment of ta~es aad a~tewmeab.
if. T6u in the evau t6e io~n w6ieb t6bawt~s tt ~iw to ~eears b made fer t~ eE Aaasdn,~ dt~er t~e oomtrnetion
ef aew buildinp oe tbe oomtrnedoa of imp~aa~aMa aed/or addttiaa to e~d~tias b~dldinp. tl~e~p~~ tf remdred b~ tbe Mort~aaee. r
aprasl~ ~rees to deposit with the Mortp~ce or tts daisnated ~sem ~n amouat of mone~ eqoat 1s t6s dlfheeooe 6et~an tbe aet proacds
of tLe lwn snd tbe ~oal amown~ as d~ned b1 ebe Mo~eSeequteed ~o talb oasPkte atd aoo~nnaio~ i~ aooordanee wit6 tbe ptam
and speeific~daa 6eretoloee submittad b~ t6e Me~or aad sp d by t6e Mottpsce. 8aid amount of mo~ep ~hall be ptaced by the
Mortgagee in a"Loan~ in Pe+xas Aaoonot" In tbe aame ot tbe 11~spr. aud tbe saaie ~ball be o~od bp . tLe Irfort~aeee to pa~ tbe oo~es.
e6arges and ~pensa ineurred in canueetfoa wtts s~id ooa~teneHoo prior ~o C~~q~o~ tbb lota It is fuetba a~rted thu in the rrent
~aid oooatruction L not fnly aoo~pleted en or beEore dK dm ~tu~d ta t6e Loan~ oe in tbe essnt tbat tbe work on
~aid oon~truetioo s6aU ee~e befors frll oom~lecio4 and web oasuieo s6a11 eouNone for a peciod a~ an (10) da~s, or tE snb~tandal condnuo~s
P~6~;~ sbali oot be made in web ~ooarnwoo. tLea ao~in aa7 sueh a~reat tbe aId a~repte sem„ PdnejPat aad tetsrea~ ~tiooed 'w said .
F~~7 ~G and all monia s~ecnr~~d beteb~ s6a11 6eooint dw and pspable ta~t6witL or t6etpt4ta at ~be opeiou ef said Moregagce: and in
tbe enent of such aa~atio~ of work ai~ aawreedoa te~ a peeiod ot ten (10) da~, ot if so~antial ooatinuo~ti proares sbaU oot 6e
made in sucL ooanructioe. ts ~foraai~tl~e Mort~a~ee ma~ u!b optlan eooet ieto and opat t6e~~~ Premi~es snd oowpleee said oon-
strnction tA saeb maaoer a~ it dse~ns ad.•iubie widant aa~ ioterkreoce fiom tLe Moetsa~or; t6e taJd ~dorep~ot 6e~? d~io~ and t~andnt
t~ cLe Mortgasee fut! powa ~ad aathority eo m~ice ~~~c`• -nr~ iaes sod apoa aid soet~ased ~remi~q, to mter inco socA ooacnas or ar-
raagaaena as mar be aeoa~ar~ ~s ooo~pkte ~aid oo~:~-: . a, and es ~pmd ~n~ moda rmaisius in atd "Loam in Yraear Aooo~mt" ~nd
in additioo ~er ~uon of aiooe~ aeoeaart es e~sptae said ooa~troetton; ~ad ~ap aod all mada rspended br the l~sortpsa io aooaa~Son
wich sucL ownptecion of ooeatrocciou in esce~ e! ehe monia io safd '7.oam in preoes Aooount" ~Lap be added yo ~be uid prindpal debt aad
oegaemr~ tacerat at tLe nce pe~ovfded Ia said promis~or~ uae~ and ~all be ~eenrcd bp t6is mor~ ~nd ~s~ ~ e Qqabfe b~ tbe Mortea~or
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