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3. T6at ia the evenc of a wit beiar iauituted w toreclpe this mort~a~ t?e Mo~s;ee ~haU bs catitled to apply at any ame dudn~
•ucL foralasure ~uit to the coun having juriadietioa tsereqf for the appoincmeat ef a receiver of ali *od sin~ular the moet~a~ed pcoperty, aud
of ali rmts, iocome~, profia, issues and revenua tbereof, from ~haqoever wurce derived; tnd thereupoa it is htreby exprasly co~enaated
and a~reed that the court shall farthwith appant suc6 rrcriver with tLe u~ual powero and dutia of reccivcn. ia lilce c~srs; aad taid ap-
pointmeat rl~all be made 6y the co~~rt as a maaer of strict riCht to t6e Mort$a~ee, snd witbout reference to the adequacy or ioadequac~ of t6e
valur of tbe propecty bereby mort~a~ed, or to the solvency or inaolveocy of the Mortpagor or any other party defendaat to sueh wit. The
Mort~aQor 6ereby specifically waives the ri~ht w object to t~e ~ppoiatrqent of a receiver sa aforeuid and hercby exprrasty coaseud tbat web
appoentmcnt shal( be raade as ~a admiKed rquity and u a matter of abxslutr ri~bt to the Moct~aQee and that tbe lifllC tAiy tSt dOil! wit6out
nouce to the Mort~a~or.
6. That if any proceedin~a ~hould be iastituted R~aimt the pmperty covered by this mort~a~e upon as?y ocher lirn or cl~im wbecLer
~uptrior or junior to the lien af thio mwrtga~e, tbe Mott~a~et may at ia option imunediately upon inuitutioa of suc6 suit or durin~ t6e pead-
eney thereof dcrlue thi~ mortgs~e and the iodebttdne,~ ~ured hereb~ due aud payable fort6wit6 and msy at ip option p~acted to forecta~e
thie mortQage.
7. To pay all an3 aingulsr the cotta, feea, ehargp and expeiaes of every kiod, includiaQ t6e cou of aa abstract of tide to uid land~
faund to be coavenient or e:pedirnt in ronaectiaa witb. aay suit for tbe fortcksure of this mo{tgs~e~ aod ~iso inclu~io~, w6echer cht Mort,qa,aee
ia obligated to psy same or not, reasonable rttoruey'~ fces iacurttd or expepded at any tiioe by tbe Mort~a~ee becrute of t6e failure of t6e
Mo~tgagor to perfortn, mmply wit6 and abide by •p or any of t6e covenatits, eandirions aad uipularion~ of uid promirory aaq ot ttus
mor~gaYe, in tQe foreclosure of this mort~age and ia collectin~ the amouat ~ured 6ercby witL or wit6out le~sl p~ocetding~, and tu reira_
burse the Mort~aget for every payment ~lnadt or incurrtd for any ~ueh purp»e ~rit6 interat fran date af avery ~uch paymeat st t6e rate of
ei~ht per ceat (E°~o) per annum; sucb payments and obligstioa~, witL intemt tbere~ u afotesaid~ i6a11 be ~ecured by tbe Gen 6ereof.
8. To keep thc baildinQ or building~ uaw or 6ereafter on uid land insursd aQaiwt loss or dama~e by fire, ertcnded coveraQe aod
at6er pe~ils, iacluding war ri~k insurance if available, in a pum not les~ than their full insurable value at the cost and e:penae of the Mort-
gagor in a coropany or companie~ approved by t6e Mortgaget, the policy or policia to bt heid by t6e Mortgaget~ ~d sucb policy or polieiea of
insurance shall have affi~red t6ereto a Standard New York Mortgagee Clause, matiag all lo~ or luasea under suc6 policy o~ poGcia payable to
the Mortgagee as it~ interest may appear, aud m deliver said policy or policia to the Mongagee when issue~ wit6 t6e meipb for tbe pay-
ment of the prcmium thtrefor; and io t6e event aay sum of money becomet psyable under such policy or policits, the Mortgagee shall bave
t6e option t~o meive add apply the same on account of the indtbttdnte~ sccurtd hereby or to prrmit thn Mortgtgor to rtceivc aed ux it, ot any
part thereof, for other purposca, ssit~out chereby waiving or imptirio~ any equity, lien or right ander or by virtue of rhia mortgs~e; and
the Mortgagee if it deems nece»ary msy place and pay for such insuraace, or any part t6ereof, without laing. waivin~ or affecting Mott-
gagec a ophon to foreciase for brtach of t6i~ toveaant, or any 'part thereof, or any right or option undtr this cuortgag+~ snd every tuch pay-
mrnt ahal! bear interest from date thereof until paid at tAe rate of eight p~er cent (596) ptr aaneun, and sp ~uch p~aytueub witb interrat as
aforesaid sball be aecured by the lien 6treof. In the event aay lo~s or damage i~ suffered Mortgagor s6ai1 natify Mortgagec of suc6 laa or
damage aithin fortp-eig6t (4d) houre after t6e happeniug tLereof; the tailen to give such notice shsll constitute a defsult and t6e Mart~a-
gee shail 6ave t6e rights herein givea fur ali defaults.
9. To per~nit, eommit or suffer no waste and to maintain the improvemeaa tt all t'smp in a state of good repair aad caadition; add
to do a~ permit to be done to eaid promises nothing that will a~ter or c6ange the use aad cLtracttr of ~aid propeKy or in tny way iwpair or
weslea the aecurity of said mortgage. In case of the refuaat, aeglect or iaability of the Mortgagor to repair aod maintain said property~ tbe
14iortgaget iaa}•, at its opfioa, make •uch repain or cause t6e same to be made and advanct rnonia in that behalf w6icL sums shall be aecurcd
by the tien hercof and bear intcrest at tht rate of eight per eeat (8°b) pcr annum.
I0. To deliver the ab~t~act or abstracts of dde cavering the mortga~ed property to Martgsgee or itn dcyignated agent, ~c6ich shall at
all times, during the life of thia mortgage, remain in the poasesaion of tLe Mortgxga and in evtat of the foreclosure of this mortgage ar ot6er
tranafer of titlq all rig6t, title and interest of the Mortgag»r in rnd to aoy sucL abstratt or abstncts of title t6ai1 p~ to the purchuer or
grantrr.
I1. That no ~raiver of any covenant herein or in the obligYtion saured 6ereby ~6all at any time hereafcer be held to be a~rsiver o1
anr• of the other terms hereof or of the note secured htrebq.
12. T'hat io order to accelerate t~e maturity of the indebtednea~ 6ereby ucured because of tLe failurc of tbe Mort~gor to pay any tu
xssasment, liability, obiigation or encumbrance upoa ~aid pmperty as herein prorided, it shsq not be necesaary nor reqUi~ite tbat the Mortga~ee
shall fira pay t6e ~une.
13. That if tbe Mortgagor shsll faii, neglect or refuae for a period of t6irty (30) days fully and protnptly to pay the smuunb re-
quired to be paid by the note 6areby ucured or the iotereet t6erein ~pecified or aav of t6e sums of money herein rrferred to or hereb~ ~e-
cured, or otberwise duly~ fully and promptly to perfo~m, ezecutq wmply wit6 and ibide by each, every or any of the rnvenaats, conditia~
or ftlpUlltlOp~ OE tZ11f inOR~,i$~ tL! promis~on~ note heroby securtd and/or the con~cruction loan agreemtnt, if any, t6en, and ia eitLer or in
any of sucb evenrs, without aodce or demaAd, the aaid sggregatt sum mendonsd ip said promissory note, Irss previow paymeate, if aray~ and
any and all sums mrntioned 6erein or secured 6creby s6a? become due and p~ysble fort6with or thereafte~ at the coatinuiag optioa of t6e
Mortgagee as fully and completniy ~s if said aggregate sums were origiaally stipulated to be paid ar auc6 time, anything in said promiswry
note or hrrtin to the contrary notwithatanding, and the Mort~agec shall be eatitled thcreupon or thereafter without norice or demand to in-
:titure suit at law~ or iu equity to enforce thc righn of the Moregagee 6ereunder or uader •aid promiaeory note. Tn the rvmt of any default
o~ breach on the part of the Mortgsgor hereunder or under ssid promisaory note, t6e Mortgagte ahap htve the continuing option to enforce
payment of all sum~ sec~red hereby by action at law or by suit ia eqmry to forcelose tbia mortgage, either or both, concnnently or ot6craise,
and one action or suit a6at1 nat abate or be a bsr to or wuver of the Mortgsgre'~ ri~ht to inatitute or maintain t6e ocher, provided eaid Mort-
gagce sha? 6avt only one paytnrnt apd ssti~faetion of aaid indebtrdnas.
14. That in the eveat that Mortgagor ~6a11 ( U coment eo tbe appoiuunwt of ~ raeiver, trmtes or liquidator of all or a substandal
part of Mongago~~ aweb, or (2) be adjudicated a bankrupt or insotvcnt, or file a~oiuntarq petirion ia bankruptcy, or admit in writing iti
iaability ta pay id debts as thry becorr,e dut, or (3) make a gmeral aaignmwt for the benefit of creditors, or (4) file a petition o~ ansvver
seeking teorganization or ursngement with credimts, or to take sdvaatage af any in~olveacy law, or (5) file sa answer admittiuQ t6e ms-
terial aitrgationa of a petition filcd againat the Mortgagor ia any bankruptqr, reorganizsdon or insolveacy proceeding, or {6) action shall be
taken by the Mortgsgor for the purpo~e of effectiog any of the foregoiog, or any order, judgment or decro shafl be entered upon an
applicAtion of a crcditor or Mortgagor by a court of competent juri~diction spproving a petition seeking appointmeat of a receiver or rru~ree
of al! or a subs;antial part af the Mortgagor'~ aaeera and sucb order, judgment or decrce shall continue unatayed and in tffect for sny period of
thirty (30) consecudve daye, the Mortgagee may dalare the note 6eroby secured fort6wit6 due and payablq w6ereupon the principat of and
tbe interpt accrucd oa the oote and a~! othrr auma hereby xcured sbsll becotne fort6witb due aad paytble ss if all of the stid suraa of moaty
were originally stipulated to be paid oa suc6 day; and t6ereupon the Mortgagee without aodce or derusad may proatcute : auit at taw and/or
in eryuity as if all monics secured heroby 6ad matured prior to ib ia~titaaon.
t5. That the Mortgagee or any person aat6orized bq the Mortgagee thatl 6ave the rig~t to enter upon and iaspect the mong•aged
premisc3 at all resaonable tima.
S6. Tbat sny aum or sums which may be Iaaned ot advaased by the Mott~agee to the Mortaagor at any tiroe withip tep (10) pean
from the date of t6ia indenture, to~ether with intereat thereoa u the rate a~reed upoa st the time of auc6 loan or advaace, ahatl be equally se-
cured with and 6ave the atme priority as t6e origiaal indebtedna~ and be subject to all the tertns and proviaio~a of thia mort~age; provided,
that t6e a~,gregate unount of priacipal ournanding at wy rime :hal! not ucetd sa amount equal to one 6undred and ~ftq per ceat (Y50`9~a) of
the principal amount original(y xcu~ed hereby.
19. 'Tbat, if rrquired by Mortga~ee~ tbe »id Mortga~c?r wilt pap ucto the Moct~ee, on the firat day of ~sch and rvery co~utivt
month, a~um equal to one-twelft6 of ths annuat iflfOUpt [fCCp{iTy LO ~fiy ali tues aqd wea~ments agaidsc the uid mortgaged premi~es, said
monthly sum to bc tstimat~d solely by Mortgagee and calculated to be an amouat not lea~ t6an t6e am~uat of tazes arseased against aaid most-
gagcd premisea for the previou~ pcar, and if furt~er required by Mortgagee to pay all insuraoce praniums in manner and form as provided
hercin foz the payment of t:zea and aaseasmmb.
lE. 'I'hat ia the evcnt the loan whic6 thi~ enort,~a~e n~irea to recure is wade for the purpose af finaneing at6er the coostruetioa
of new buildings or t6e aoastruction of improve~aents and/or addioon~ to ezistin~ buildiags, tLe Mort~a~or~ if reqwrsd by the Mortga~re,
expreuly agrees to deposit wit6 the Mortgagee or ia designated agent an uaount of moue~ equRl oo tht diffem~ce betweeo tbe ad proceedi
of t6e loaa aod the total amount, as determincd bq the Mo~yp~te, required to fully compleee s:id coostruction in saordapct with tLe pl~a
and specifications heretofore ~ubm:tted bq tLe Mortga~pr snd sppmred by tbe Mort~a~e~e, Said amount of naonty s6a11 be plucd by t6e
Mortgsgee ia a"Loani in Proca~ Account" in the name of the MortQagor, and t6e wnt ~ball be uud by t6e Mortga~ee to pay the co~ts,
char~a ~tnd ezpenns iocurred in connection wit~ sud construction prior to dl~bunios of dti~ fo~n. It ii furtber s~rred t6st ?n tbe erent
aaid conatruction ia not fully completed on or befon the due sated in the Construction Laaa A~rreement or in t6e tvrnt thu the work oa
said conatruction shall ceue before full completion ~nd aueL cessation shall continue for a period of ten ( IO) daqs, ar •if substandal coadnuom
progress shal! nat tx made in •uch construcaon, rbea and ia sn~ ~uc6 e~eat t6e ~id a~gregate tinm, principal aad iatcrest, mentiaetd in said
promi~sory note, and a? raonia secured hereby, thal] become due and psysble forthrrith or tbercafter, at the option of said Mortgagee; snd ip
the event of sue6 casation of work upon said eoaatruccion fo~ ~ Rtriod of ten (30) d:yt, or if ~u~tantial continuous progre~s tbsl) not be
made in ~uch construction, aa tforaaid~ t6e Mort~sgee ruay tt ib opdon enter into and upon the mortgagcd premiaes and complete said con-
struction in tiucb manntr a~ it dreme advisable w;thout anq iate~frra~ce from the Mont4a~or; t6e s~id Mortgagor baeby ~fin~ and grando~
ro t6e Mort~:gre fuU power and autlaority to make suc6 cntrq into and upan said mortyaged premied, to entec into such contrsets or ar-
rangements as may be aeceaaarq to complete said construetion, and to tzpend any moaia rcruaiaiog in aid "I.oan~ io Procese Aeooant" and
ia additioa any aum~ o~ money Qece~sry to camplete ~a:d conurvction; and any aed :11 1A6A2!! expeaded bq tbe Mortgsgee in caneeetion
with such co~nplction of construction in ezcess of the mimia in ,aid "Loans ia Prace~e Account" s6a11 be added oo the ssid principal debt aod
ehall draw interrat at the rate providcd in said promiesory note, and shatl bc saured by this mortgagt, snd s~aait be psytbfe by tbe Mort~s~o~
on dtmanQ.
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