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S. T6at in the evwc of a suit beio~ instituted oo foreclae tl?is mort~a~e, ti~e Mert~atee ~6a11 be mtitkd oo aPply u any dme durin~
wc6 forecloaure suit to the rnurt having jurisdiaion thereqf for t6e appoinenent of a receiver of aU aad sia~ulu t6e mort~ased propercy~ and
of all rena. inrana, prnfits, is~uw and rereaua t6rreof, froan ~chaaoerer rourcc deri~ed; aud the~eupon it u bereby exprealy eoveuasced
and aQreed ebat t6e court shnll foirthwith ~ppoint •uc6 receive~ wits t6~ ususl powea and ducia of reeei~er~. io Gice catia; sad said ap-
jlolrttRllA~ iI1~II bC made by the coun ~ a matter of urict ri~6t to the Mort~a~ee, and wit6out rsference to tbe adequaey or inxdequacr of tbe -
valut ot tLe property 6ereby morc~s~ed, or to tbe solvency or insotve~y of t6e Mo~c~a~or or any otber pa~ty dtfendant to ~ucb wit. Tbe -
Mort~a~or bereby specifically waivn cIIe riqht to object tn the sppoiaunent of a receiver as aforef~aid aad Bereby e:prss~ly consmn that wch °
appointment shall be made as an sdmitted equiry aad as a matter of abwlute ri~ht to the MortQa~te utd tbat the ~aunt may be doae witbour
notice to the MortQa~oc.
6. T`hat if any proceedin~s s6ould be iastituted a~aimt t6e property oovered by this mo~t~a(~e upoo any otlser lien or daim wLether `
wperior or junior to the lien of thi~ mort~~~e~ the Mon~a~ee may u ia optioa irnmediately upon institutiaa of rucb suit or duria~ t6e peud- r
eacy thcrco~ declare this mort~aBe and the indebtednas kcured Sereb~ due aud paYable fortLwitb and may at ia optiou procad to foralae
this mort~age.
1. To pay afl and aiaRular the comts, fcay, e6ar~cs and rxpeases of every kidd, ineludinQ the cost of tn abstract of ade to ~aid landt
fo~ad to be convenieat or ezpedieat in connectioo with. aap suit for t6e forecla~un of tbia mo{t~a~ro, and also includina. whethec tbe Moct~a~ee
i~ obligated to pay same oc not, reawntble attorney's fees incurred or e:peoded st any dme by the Mort~~ee beeawe of tLe failurc of ~ht
Mort~agot m perfortn, canpiy with and abide by sll or any of w' e coveaaad, cooditiau and stipnlatioos of said pro~aiwory note~ or this
martgage, in tbe forrclosure of this mort~a6e and 9a coUcctia~ the aroount ~ecured herebr with or witbout le~al proeeediop„ aod to teim-
buroe the~Mort~agee for every payroent made or iacurred far any such ~urpose with interait fran date of tvery ~uch pa7ment at t6e nte of
e;~hc per ceot (E96) ~er annum; sucb payments and obliguions, with inarnt tbereoo as sforesaid, sLall be seeuced by We Geo he?eaf.
To keep t6e bnildin~ or buildiqgs daw ot 6ereafter aa uid land insured a~tinrt loa or dama~e by fire, e:tended owera~e tad
ot6er perils, including war risk inaurance if availsble, in a pum oot less ehaa thdr full insunble value as the cwt and ezpense of tbe Mo~t-
gagor in a company or companiea appcoved by tLe Mortgagee, t6e policr or politia to be hcld by the Mort~atee, aad ~uch policy or polieia of
insurance ~all have affized thereto a Standard New Yark Mortgaga Clawe, malcin~ all lou or loues under su~ poliey or polic6w payabie to
t6e Morcgagee s~ its interest may appear, and to deliver said policy ot policid to tLe Mortgagee V~bllf isaued with the r^capts for t6e pay-
ment of r6e premium t6erefor; aad in t6e event anp sum of money beroma paytble uader such policy or policies, t6e Mortgagee ~hall 6ave
the option to receive and apply the same on account of the iudebtednat secured Lereby or to pernnit t6e Mortgagor to meive and use it, or any
part thereof, for ot6er purposa, vritLout thereby waiving or impairing aay equiry, Gea or ng6t under or by victue of thia mortgaQe; and
t6e Mortgagee if it deems necesssry may place aad pay for such insurance, or any psrt therrnf, wit6out lasiug. wuving or affeRiag Moct-
aagee'e optioa to fazeclore for bresch of thia cavenant, or aay 'pact thereof, or any right or nptioo under this ~rtgage, and evcry sucb pay-
ment shall bear interest from date ehereof until paid at tbe rate of ei~ht per eeat (t96) per annum, wd atl ~uch paymena w~ch innrerc as
aforesaid s6a11 be eecured bp the liea hcreof. In tbe event any loes or damage i• suffered Mort~a~ar shall notify Mortg~gee of out6 laa or
damage vcitbin focty-eig~t (4E) taur3 after t6e happening thereof; the failurc to give suc6 notiee s6ail rnnstitute a default and the Mort~a-
gee sha11 6ave the rig6ta herein given for all defauld.
9. To pctmit, comrait or suffer oo waste tad to maintain tbe impmvaaeod at all times in a~ttte of ~ood repair and coaditio~; aud
0o do or permit to be done tn said prcmises nothing t6ax ~vill alter or chsnge t6e ux and eha~acter of ssid pmperty or in any way impair o~
weaken the security of uid mortgage. In cue of tbe refusal~ neglect or inabiliq of the Mnrtgagor to npair and maintain tald propertp, t6e
Mortgagee may, st ia opEion, make such rrpsin or cause the same to be made and adrance mionies ia that be6aif wrhicb sum~ shall be seeured
br• t6e lien bercof and bear interat at the rate of eight pet cent (E°6) per annuta.
!0. To deliver the abstract or abstncts of title coverin~ the mortgaged propertY• to MortgaQee or its designated agcnt, ~v6ich shall at
all times„ Juring the life of tlus mottgsge, remain ia tLs poasessioa of the Mortgagee and in e~ent of the fo~eciwure of this mortgage or ot6er
tranafer of title, all right, title and interest of the Mortga~or ia aod to any sucL abtract ar abstracts of title shall p~s to the purchaser or
granter.
il. T6at no waiver of any coveaant herdn or ia tLe obG~tian secured hereby s6a11 at aaq time hareafter be 6eld to be a«aiver ot
any of the otha tcrrns hercof or of the note secured 6erebq.
12. That io order to accelerate t6e maturitp of the indebtednea 6ereby saured because of the faiture of the Mortgagor to pay anq taz
auesunmt, liab;lity, obligacion or encumbrance upon uid property as 6erein prvvided, it ~6all aot be decasary nor requieite that t6e MortgaQee
shall fir~t pay tLe same.
13. That if the Mortga~or shall fail, ne~lect or refwe for a period of tbirty (30) days fully aad prompclp to pay t6e amounb re-
quired to be paid by the note herebq secured or tbe interest therein specificd or any of tbe sums of money hetan refcrred to or 6ereb~ ~e-
cured, or aeherwise duly~ fuUy and prompcty to perform, ezecute, comply witL and tbide bq euh, e~ery o~ any of the eovenant~, oondiuon~
or stipulatioas of this mort(rage, the prornivwry aote hetcby secnred and/ar the COOftI'liCtiOA loan agrce+nent, if any. then, aad in dther or in
aay of such eventa, without tatice or demand, the said aggregate ~wn mentioned ia said proasi~orr aote, !as previow payramts, if my, and
any and all sums meationed herdn or ucurcd herebq sbaU be~rome due aad payabie forthwith or t6eresftn at the oontinuing optioa of t6e
Mongagee as fupy and complstcly as if said a~regace suma were originally stipulated to be ptid at such time, ~nyt6ing in said promiNOry
note or herein to the contrary notwithstaading, aad the Mortgagee shall be rntitled thereupon or t6ereafttr wit6out notice or demand to in-
stitute suit at Iaw or in equiry to enforee the rights of she Mortgagee Lereunder or uader ~ud promiseory dote. In the event of any defauit
or breac6 oa the part of the Mortgagor hereuader or undec said promisaory note, the Mortgagee s6a11 have the continuing option to mkrce
payment of all stune secured 6ereby by actioa at law or by fuit in equity to fareclose chia morteage~ either or bot6, concurrmdy or ot6erwise, .
and ont aetion or auit shaU aot abate or be a bar to or wsivcr of the Mortgagre's right to inatitute or maintain the otber, procided said Mort-
gagee s6a11 have oaly one payment aad sstisfaction of eaid iadebtedaas.
i~?. That in the cvent t6at Mortgagor shall (1) consrnt to the appoiauneat of a receiver, trwtee or liquidator of a11 or a ~aMtantial
~art of Mort~a~;or~ asets. or (2) be sdjudicated a bsntrupt or iwolveat, or file a~oluntary prtition in bankruptcy, or admit in writina its
mabiliry to paq ib debts as t6rer become due, or (3) make a~eneral aMi~ameat for tbt bsnefit of crtditan, or (4) file a petidan or aa~wet
ue~in~ reor~anization or arraaQement with creditora, or to take advsntage of aay iasolveney law, or (S) file an answer admitting the ma-
terisl allegadons of a petition filed agairot the Mortgagor in any baalcruptcy, reorganizatioa or inwlvency proceeding, or (6) action shall be
taken by the Mortg~gor for the purpo~e of effecting wy of the foregning, or (9) any order, jud~nent or d«ree ~6a11 be entered upon an
appficadon of a creditor or Mongagror by a court of cor~pettnt jurisdiction approvinQ • petidoa feeicing appoiatment of a rectiver or trustee
of ail or s aubetantial part of the Mortgagor's aaets and such order, judgment or decne ~hall continut eanstayed and in effect fo~ aay period of
thirty (30) consecutive da;~s, the Mortgagee may dcelan the oote 6ercby secured fort6aith due and paysbie, whenupon tLe principal of and
the intereat accrucd oa t6e note and ail ot6cr euma hereby aecurcd ehall beoome fortLwith due and payable as if all of the said sums of rooney
were arigiaally ttipulated ta be paid on ench day; aad thercupon tbe Mortgagee without notice or dtmand may prosecute a suit at law and/or
in ec~uity as if all moaia ~eCUred hereby had matured prior to ~b inttitatiod.
15. 'Ibat the Mortgagee or any person Authorized bq tbe Mortga~te shall 6ave the right to mter upon and imptct the mort~a~erl
premise~ at all reasonable timn.
16. 'I'hat s~y sum or sums w6ich may be loaned or advanced by the MortQagee to the Mortgagor at any time wit6in ten (i0) yemn
from the date of thia indenture, together with interest thereon at t~e rate t~reed upon at the time of auc6 loaa or advance, ahall be equtliy se-
curcd wit6 and have the ~ame priority ae t6e origiaai iadebtednae and be subject to all the terms and proviaions of tbis mortgagt; pcovided,
that the ag~regatt uaount ef principal outetanding at any time ehall not escced an unount equal to ane 6undred and tifty ptr crnt (ISO%) of
t6e priacipal araount originally ~ecured hereby.
17. That, if requirtd by Mortgagee, the eaid Mortga~or will ptq vnto t6e Mortgagse, on the fint day of csch and every wnsocutive
rnwath, a sum equal to one-twsift6 of tbe annual amount ntcaurg to pay all tasa and a~amenb against the said mortgagcd premises, taid
monthly ~um to be escimated solcly by Mortgagee and calculAted to be an smowt not lne than the amaunt of tues a~ues~r~ agaiau ~id moct-
; gaged premises for the previoua ycar, and if further required by Mortgaga to pay all insur~nce prcmiuma ia mtnner and form a providtd
herein for t6e payment of tazea aad aesesaamts.
18. 'I'hat in the t~mt the losn whic6 thi~ mortgage is ~ivc~ to seture i~ rnade far t~e purpose of finauting eit6er t6e a~naruction
of new buildings or the ~nstruction of improvements and/or additions to a~istiu~ buildiags, the Mort~or~ if rcquieed by tbe Martgagee,
exprasly agrec~s to deposit with the Mortgagee or its daignated agcat an amount of moocT equal to the differwee between the nd proceed:
of the loan and the tota] amouat, as determined by the Mort~agee, required oo fullr oomplete taid aomstruction in aecordance wit6 tbe piaa:
and specificationa heretofore wbmitted bq t5e Mcrcg*gor aad appro~ed br t6e Mort~sgee. Said saaunt of moner sball be placed by t6e
Mortgagee in a"I.oaaa ia Proceu Acoount" in rhe name of tbe Morcgagor, aad the same ihall be used by tLe MortgaQee to pay tbe co~ts,
eharaa and expea~a iacuned in copnection witb uid coustn~etian prior to di~bursia~ of ~i~ losn. It is further agreed that ia the trent
eaid construction is not fully completed on or before the due aated in t6e Coastrvctian Loaa A~netnent or in the eveat that the work on
said canstruction r6all ceue bt#ore full canpletioa and auth ce~ttioa shall cantinue for a ptriod of ten (10) dsya, or ~if suMtaatial condnuow
progreu s6a11 not be made in ~ueh tonstnsctioa, then snd in say tuc6 ertnt the said a~gregate sum, priacipal and intcrest, mentioned in ~sid
promiseory note, and ail roonia saured hereby, s6it1 baorae due and pa~able fort~wtitb or thenafter, tt the option of said Mortg~gee; snd io
the event of ~uch ce~satioa of work upon said construction for a period of ten (10) days, or if ~ub~tantial oontinuous progrese ~6:1i not be
made in •uch cotutruction, ae afore+sid, the Mort~a~ee may at ib opd~n enter into and upon the rn~ortgaged premisee and cnmplete said con-
Kructioa in such manner a~ it deems advisable without wr interfem~ce fran tbe Mottaa~or; t6e said Mortgagor hereby ~i~ing aad ~ranBn~
to the Mongagee full power aad autborit7 to make iuc6 rntry into and upon taid mort~a~ed pteroiser, to rnter into suc6 eoetracb or •r-
rangements as may be accessary to complete ssid coastructioa, snd tn espend an~ monia remaining in ~aid "I,oans in Procas Acaount" ~nd
io addition any auma of money aecessary to complae taid coouniction; and xay and all moa:es espwded by tbe Mortgagee in connecri~
with ~uch completion of construction in excess of t6e monia in ~aid ~~L01Ii~ in Prxes Account" shall be added ta the ~aid pris~cipal debt aod
ehall drsw intereat at t6e rste provided in said promissory nute, and thatf be xGUnd by t6ie martgsge, and tbal! be payable by t6e NfortQaQvr
on demaa6. 80~K 114