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.i. Cha~ ~u che eveac oi a suit brin~ instituted to foreclo~t thia mort~a~e, the hlort~agre sball be entitlcd to ~ppiy ac aay q~ne duriog
~~i~u forecloeure suit to the cuurt having juri~diction tAercOf for the appointmeat of a receiver of all and sin~ulu the roortQa~ed propetty, se~d
of all renn, incoma, profits, iasues and revrnua thereof, from arhxnoever wurce derived; and t6rreupou it i~ hereby e=pres+ly covmanted
~nd agreeA that the court shall fonh~vith appoint wch receiver wieb the usual poN•en and duties of receiven. iu li4e cases; and said ap-
puintment ~hall 6e rnade by the cnurt u a ma~ter of strict ri~ht to the MortQaget, and wit6out reference to the adequacy o~ intdequacy of t6e
value of the property hereby mortYaged, or to the solvency or in~ivency of t6e Mongsgor or aay ot6er party defendaot to •uch ~uit. Tbt
~lortgagon c~reby apecifically wai~•a t6e rig6i to object to the appointment of a receiver aa aforesaid aad hereby ezpressly conseob that ~uc6
appoinemont shall br made as nn admitsed equity and aa a mutter of abwlute right to the Mortgsget and t6at the ~art:e may be dont wit6our
:~ocice to the hlortgagor.
6. Tha! if any proce-dings should be inatituted rgaimt t6e property covtred by this rwort~a~r upon any other lien or rlaim ~rhetber
+uperior or junior to the liea of this morcgage, the Mort~agee may st iq option immediately upon in~titution of such auit or during the pmd-
rncy therrerf drelare this mortgsge and Lhe indtbtednw securtd hercby due aod payabie forthwith and may at ir~ optioa praceed to fare~clae
rhis mortgage.
7. To pay all and sin~ular the couf, ftes, c6argea and ezpenses of every kiad, ineludiag Che catt of an abstract of tiNe to said land~
iounJ eo be cuuvenient or expedient in connection with. any suit for t6e foreclwure of t6?s mortQa~e, snd alw iaciudia~, whet6er the Mortyages
is oblisated co pay sarne or net, reaaunablr attorney'~ fees iacurred or ezpended at any time by tbe Mortgagee because of t6o ftilurc of the
~lortgagor to perform, comply with and abide by all ur any of the covensnts, coadidoas and stipulstions of uid promi~eory note~ or t6ia
mortgage, in the foreclosure uf thie mortgage and in coilectinr the amount secured hereby with or ~it6out Ie~al proceedin~s, and to reim-
bune thc htortga~;ee for every pa~ment made or incurred for any such Qurpose with interat fran datt of every such paymrnt at tht nte of
eight per cent (8%) per aonum; such payroent~ and obligationa, with interat thereon as aforaaid, shall be reeured by the lim 6ereof.
8. To keep t6e baildio~ or buildiags aow or hereafter on aaid land insured s~ainst loa or dama~e by ~re, e~ctended coverage and
other perils, including ~var ~iak insur~nce if svailAble, in i pum not laa than their fu11 insurable value at the cost and ezpense of t6e Mort-
gagor in a campany or rompaniea spprovcd by t6e Mongagee, tbe policy or polities to be held by t6e Mortgagte, and suc6 policy o~ policie~ of
insurance s6a11 havt affized thereto a Standard New Y'ork Mortgagee Ctauae, malcing all loar ar louea under such poliey or policies payeble to
the Mortgagce as its intere3t may appear, and to deliver said policy or policie9 to t6e btortgsgee when isaued with the receipte for tLe pay-
ment of the premium therefor; and in the evcnt any sum of money becomes payable under auch policy or policies, the Mortgagee :6a11 have
tbe option to receive aad apply the same oo account of !6e indebtedne~ ~ccured hereby or to permit t6e Mortgagor to reccive ¦od uae it, or uny
part thereof, for other purposn, v~it6out t6ereby waiving or impairing any equiry, lien or right under or by virtue of t6is mortgage; aad
the Mortgagee if it deems necessary may place and pay for auch insuraoee, or any part therrnf, ~vithout losing, waiving or affecting Mort-
gagce's option to foreciose for breach of thi~ covcaant, or atty part thereof, or any t~ght or optioa under thi~ maKgage, sad every ~uc6 pay-
mrnt shall bear intcrest from date thereof until paid at the rate of eight per cent (E%) per annum, and all •ach paymenta wit6 interest ts
aforesaid shall bE aecured by the lien 6ereof. In t6e event any lo~a or damaga i~ suffered Moctgagor ~6s11 aotify A+tortgagce of sut6 loss or
daroage ~ithin fort}•-eight (48) hour~ after the happening t6treof; tLe fiilure to g~ve such aotice ehall conaritute a defauft and tbe Mortga-
gee shall hs~•e the rights hercin given for all defaulb.
4. To pcrmit, commit or wffer oo wa~te and to maintaia the improvemenn at all dma in a state of good repair and wadi4on; snd
to do or permit to be done to said premiaa nathing that will alter or change t6e use and cbsrsaer of ~aid property o~ ia any way i~pair or
~veaken the security of aaid mortgage. In case of t6e refwal, neglect or inability of the I?iortgagor to repair and maintain »id propert~•, tbe
Mortgagee map, at ia opEion, make such repairs or esuse the ~ame to be made aad advaace monia in that behalf whic6 eum~ ehalf be ~ecured
b}~ tht lien hercrof and bear iptertst at t6e r:te of eight per tent (896) pcr annum.
10. To deliver the abavact or abstract~ of tatle covering the mortgage<f property ta Mortgagae or its desigioated sgent, ~~hich s6a11 tt
a!I times, d~:ring the life of this mortgagq rem~in in tLe posaasion of the Morigagee and in event of the forecloeure of thi• mca~tgage or other
tranefe: of title, all right, title Ynd interat of the Mortgngot in and to any auch abstrict or abstracq of dtle shall pase to the purchaser or
6rantee.
11. That na ~~•aiver of any co~enant 6ece;n or in t6e obligation aecured hereby shall at xny time hereaftsr be held to be a~raiver af
an~ of the other terme hereof or of the note secured herrby.
12. Thac ia order to accelerate t6e maturity of the indebtednen hereby ~ecured becauie of tbe fulure of the 111artgagor to pay any tar
asaaunent, l;ability, obligasion or encumb~ance upon said property as herein pmvided, it shall not be necrnary nor requieite r5st thr Mortga~ee
ahall ferst pay t6e same.
13. That if the Mortgagnr shall fail, neg~cct or refuse for : pcriod of tlurty (30} daya fally aod promptly to pay t6o amouats te-
quircd to be paid by t6e note hertby secured or the 3nterest therein ~pccified or any of thc atuns of money 6erein referred to or hereby ~t-
cared, or otherwiee duly, fully and promptly to perform, ezecutq comply witb and ~bide by each, every or any of the covenaob, eonditiow
or uipulationa of thi~ mortYage, t6e promia~orr~ note hereby secured aad/or the coa~ruction toan agre~nent, if any, then, and in either or in
any of auch eventa, ~ithoue notice or demaad, ihe eaid aggregate wm mrntioned ia said promissory note, less previoue paymeats, if auy, and
any and all sums mentioned herein or xcured hereby sball btcome due and payable fonhwitL or thereafter at the a?ntinuing opdoo of the
11Sartgagce as fullp aad completely ~ if raid aggrcgate ~ume wen originslly sripulated to be paid at such time, anything in said proroiaory
note or herein to t6e contrary aotwithstinding, acd the l~iortgagee s6a11 be cntitled thereupon or thcrsaftec wit6out aotice or demand to in-
stitute suit at la~s or in cquiry to enforce the rig6t~ oF the Mortgagee ~ereunder or under said promiasory note. In the event of sny default
ar bFeach on the part of the Mortgagor hereuader or under eaid promisaory aote, the Mottgagee shall have thr continuir~g option to saf~orce
Qayment of afl fums eecured hereby by actioa at lsw or by suit in equicy to foreclose thie mortgagr, rither or both, coocurrrntly or ot6erwise,
and one action or ~t~it ~hall not absta or be a bar to or waiver of the Mortgsgee's right to in~titute or mainttin the other, provided said Mort-
gagee shall 6ave only~ one payment and ~atiafaction of aaid indebtedn~s.
t~i. 'I'bat in thc event tbst Mortgagor ahall (1) coaxnt to the sppoentment of a raeiver, trwtee nr liqnidator of all or a•ubstantial
part of Mortga~or'~ ~ed, or (2) be adjudicued a bsnkrupt or insolvent, or fils a voluntary peation in bankruptcy, or adrnit in writin~ iu
inability to pay ia debb as ther beco~e due, or (3) make a genersl assignmmt for che benefic of crediton, or file a petition ar aaswec
ecekiog reorganizatioa or arrangemeni winc ~rediters, or to take advanta;ge of aay insolvency Itw, or {5) file an answer admittiag the ma-
terial allegatiana of t petidon filtd against the Mortgagor in any bankruptcy, reorganiz~tioo or inwlvency~proceediag, or {b) a~on s6a11 be
taken by the Mortgagor for the purpose of effectiag any of the foregning, or (7) :ny order, judgment or dtcree s6a11 be entered upon an
application of a crcditor or l~iortgagor by a court of competent juri~diction approving a prtition ses{cing appointment of a receiver or trustee
of ap or a sub~tantial part of the titortgxgor'~ asseta and euch order, judgment or decree shall continue unstayed and in effect for anp perioci of
thirty (30) consecutive day~, the Mortgagee may declare t6e note hereby ucured forthwit6 due and payable, whereupon the principal of and
the interdt accrued on the note ind all ot6er sum~ hereby secured shsll berome forthwith due and payable a~ if all of tLe said ~ums of money
were originally etipulatcd to be paid on such day; and tbereupon the Mortgagee wit6out notice or demand may pro~ecute a suit at law and/or
in equity as if all monia etcured hereby 6ad matured prior to its iartitudon.
15. That the Mortgasee or any person authorized by tbe Mortgagee ~hal! 6ave the right to entcr upon and inspeet the rcwrtgaged
premises at all reasonahie tiroee.
16. T6at any sum or sums whic6 may be loaned ur advanced by the Mortgagee to the Mortgagor at any time within tea (!0) yean
from the date of this indenture, together ~sit6 intereet thereoa at the rate agreetf upon st tbe time ~f auch lo:n or advance, shall be equaily se-
cured with and 6ave the ~ame priority sa the original indebtedna~ and br subject to :1t the term~ and provi~iona of tl~ia mortgage; prorided,
th~t ehe aggregate amount of principal outstanding at any drne ahsll not eYCeed ~a amount equai to one hundred and fifty per cent (150%) of
~he principal amount originaily secured hertby-.
17. That, if eequired by Mortqagee, the ~aid Mottgtg~or will psy uato t6e Mortg~gee, on the ficst day of eace aced svery conseca5v+r
montf~, a st~m equal to one-t~celfth of tbe annual amount oecaaary to pay all tua and aa~e~menn against the taid mortgaged pr«nissa, rud
~ monrhly sum to be estimated solely by~ 1~Sortgagee and calculated to be ~n amoum not lese thsn the amoua~t of tazes aasessed agaiast said mort-
gaged premiaes for the previous yoar, and if further required by Mortgager to paq all insuraace premiums in manner snd form ~ prdvided
herein for ihe pa}•meni of tazes and assnsmenb.
13. That in the eveot the Ioaa which thi~ mortg~ge ia ~ren to eecure is msde for tbe purpo~e of financing either the constructioa
oi ?c~+• buildings or the canstruction of improvemtnt~ aad/or additions to eiistia~ buildin~, tbe MortQa~or, if requirtd by the Mortgagee,
ezpraslr• agreee ro depo~it ~rith tho Mortgs~cG or it~ daignated agent an unouna of yaoney tqusl to the difference between tht net proceed:
of the loan and the total amount, aa dctermined by the MortQsgee, required to fully ca~plste said constructioe in aarordu?ce with t6e plan~
and epccificatione 6eretofore subrnitted by the I~Sortgigor and approred by tbe Mortgagee. Said amount of ineney ~hall be placmd by the
!~Sortgagee in a"Loans in Process A~count~' in the narnz of t6e Mortgagarr, and the saroe thall be used bq the Mortgagre w pay the coets,
charga and ezpenaa incurred in connection with said COAlLTUCLfOl1 pnor to dirbuning of this loan. It is further agreed that ia the evmt
;aid construcdon ia noi fully completed on or before the dste stated in the Constn~ction I.oan Agreemenc or in the event that the work on
s3id conetruction shal) cease be:ore full coropletion aad auc6 cesaation s6a11 condnut for ~ period of ten (10) da~s, or~if subatantial rnadnuow
progress ~hall not be made in such con3truction, then and in aaq suc6 erent tho aid aggregate eum, principal and interest, mentioned in :aid
promissory note, and ali monies secured 6crcby, shall become dua and payable foRhwith or t~ereafter, at the optiun of said MortgYgee; and in
the event of euc6 cesaation of ~vork upnn aaid construction for a perind of ten (10) days, or if eubstaatial continuous prograa ~6sll not be
made in sucb conetruction, aa aforaaid, the Mortga~es maq at ib option enter into and upon t6e mortgsged premi~es and coroplete said con-
strucdon in auch man~cr as it deems advieable without any interference frorn t6e Morsgagor; the aa;d Mortgagor 6ereby givina and granting
to the Mortgager full power and authority to make auch rntry inm and upon ~ud mortg~ged premiaes, to tnt~r into ruc6 eantrasta or ae-
rangemrnn aa may be necesaary ro complete said constructian, and to ezpend anp monia remaining in aaid "I.oana in Proceaa Aeoount" and
in addition any au:ns of :noney nccasary to complete eaid t'onn~uction; and any and al! monia expended by the Mor!gagee in connectiaa
s~it6 such carnplction of construction in excess of tha monies ea said "Loar:s in ~'roceee Account" iha? be addcd M the ~aid principal debt aod
shall draw interest ar the rate provided in caid promissor~• nate, and ahatl be saured by this rnartgage, and sh~ll be payabte by the Mortgagvr
o~ aamand. ~~RK ~U~r