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S. TDat ia tbe erent of t tuit beins inrtituted to fotalae t6i~ mon~ase, the Mort~:~e ~hsll b~ eadded to appty u my time dudn~ ~
~uch foreclosute ~uit to the court hsviag jurisdictioa tbercqf fo~ t6e appoiatmeot of a ~ative~ of ail aad ua~ulu the roonta`cd prope~+. ~ad ;
of ail read, ioc~oma, pcotits, usues and reveaua tbercof. from ~haaoevec ~ource dui~ed; and tAercupoa it iu be~eby e:pcasly co~enanted `
and aQceed that t6e coun sAall forthwit6 appoint •ucb raeivu witb :he usual povren and dutia of raeirecs. in lilce cua; and uid ap~ ~
pointmeot ~6a11 be rnade 6y t6e rnurt as a matter of uria risbt to t6e Mortaagee, snd wit6out nfereoce to t6e adequacy or inadequsc~r of tbe
value of t6e propecty 6eree~ tnocceage~, oc to the solve~y o~ inwlveacy of t6e Mon~a~or ot aay otAet pactr defendaut to ~ucs wit. Tbe •
Mort~a~o~ 6ercbr specifically waiva t6e riQht to objeet to c6e appoiatmeat of ~ ~aeiver as aforeuid ac~d Aueby e:pres~lr coaseAb tbat web j
appointmeat shaU be made u aa admitted equicy aad as a matter of abwlute ri~6t to the Mortga~ee and that the same way be do~e wit6om f
notice to t6e Mortga~or.
6. T6at if any proettdiogs sbould be instituttd a~aiatt tAe property corered by thi~ tnortQa~e upoo anp aher !irn or claim wbether
~uperior oc juaioc to t6e Gen of t6is mortQa~e. tbe Mo~tga~ee msr at its option immediacely upon ~auicutioa of suc6 suit or durin~ t6e pend-
cncy thereof declue t6i~ mort~a~e and the iodebtedna~ seeured 6ereby due and p~yable tort6wit6 aad may at iq option procecd to focalae
tAis rtlort~agt.
7. To pay all and siagula~ t6e cost~ fea, charga u~d e~pewa of every kind, including t6e cat of ~ abstract of title to said lwd~ '
found to be oonrenicnt or e:peditnt in conoaaoa wid~.any suit for t6e forecbsure of eLis monQage~ aad also includiag, whahe~ t6e Mort~ts ~
ir obli~ated to pay ume or not, reuoaable attomcry's ftes iocuned or e:pcodcd at aoy time br the Martga~ee bceawe of tLe failure of tbe
Mon~agor tope rform, coropty ~~it6 aad abide by a!1 or any of the coveaaaa, oonditioas and uipulatioas of uid prowiwory aae, o~ t6is
mortgaqe. in tbe foreclosure of t6is aartgage and ia rnllaang t6e amouat ~ecured 6ece6r wit6 or witbout le~al proeeedinp, aad to rtitn-
bune tbe Mortgagee for every pa~ment made or iacu~red for any such ~+urpose wit6 ictere~t frow dste of erer~ sucb pa~nnent at the rate of
e;g6t per ant (t96) per annum; suc6 paymena and obliguioa~„ with interat tLeroon as aforaaid, ~6a11 be aaured br tdt Gea hereof.
To ka tbe buildia~ or butldings now or hereafte~ oo uid tand ia~u~ed againu kss o~ d~ns~ee by ~re. erteadcd co~erage and
s
ot6er perib. inc! iag war rist imu~ance if available. in a~um aot lcsa than t6ar fult imurable value at tbe cost and ezpertse of tbe Mort-
gagor ia a rnmpany or cnmpu?ia appro~ed by tLe Mortgagee, tbe polie~ or poticiq to be bcld by the Mortgagc~ aod suc6 policy o~ policia of
insurance shall ha~e affi:ed t6ereto a Staadard New Yo~k Mortgaget Claose. aaakiog all bss or laesa under suc6 policp or policia payable eo
t6e Moitgagce as its intenst may appear~ aad to deliver said policy or policies to the Mo»gsgee w6rn issued wit6 the ceceipts fo~ tLe par•
ment of tbe premium the~efor; and ia the event any sum of money beco~na payable under sucA policr or p~licies~ the Moctgagee sball 6a~e
tbe option to carive aad apply t6e ume on account of t6e indcbtedne~ secured he~eby or to permit the Mortgagor to raeive :nd wc iti or an)
psrt t6ereof~ for othe~ purposes, tirityout thereby wsiviag or im~airiag any equity. lien or ri46t under or by virtue of t6is moctpae• and
the Mortgaga if it deems necasary may plue and pay for such insurancG o~ auy part theteo~. ~itbout lpin& waiviag or affectiag ~1~toct-
gagee's option to foceclae for breach of tdia oo~waay or any 'part tAereof~ or snr ng6t or opcioo under this mortgaae, and ~~~ry .~b wr
ment shall bear interat fran date thereof until paid at t6e rate of eighi per ceat (!96) p~r wowq and all such payinents with interat ac
aforesaid shall be sau~ed by the Gm hercof. In che eveoe anr Wss or damage is suffe~cd Mor~gag~or •6a11 oonfr Mong,gee of sue6 lw~ or
damage vrithia EottytigLt (4E) boun after tbe ha~peoiag t6ereof; the failure to give auch noticc s6a11 constitute a defauh aad t6e Mo~a- ~
~ee ehall 6ave the rig6q herein given for all defw ts. ~
9. To permit~ canmit or wffer oo t~iStt i~d t0 malDtilD thC IIOp[Or!latDb tt !II hIDls lD a state of good apair aad aoadidon; and
to do o~ rmit to 6e doae to said p~emisea aotbiag that will alter or cbange tbe i»e and c6aracte~ of uid propertp or m anr war impair or ~
i»
weaken securiry of uid mortgage. In cue of the ~efusal. neglect or inabilit~ of tLe Mortgagor to repair and maintain aaid propcrqr. tbe
Mortgagee map, at id opEio~ make s~x6 «pairs or eause t6e ume [0 5e made and ad~ance monia in that be6alf whicb tun» shall be secured
b~• t6e liea hereof and beu intenst at t6e nue of ag6t per cent (E96) per annum. `
e
t0. To delirer t6e abstract or absuaets of titlt oo~ering tLe mortgaged property to Moctgagee or its desigoated agrnt. ~~6ic6 s6a11 at E
all times„ duriog t6e life of t6is mortgagq remain ia tLe pos~ession of tLe Mortgagce and in e~ent of the forecbsurc of tbis mortgagt o~ aber
eramfcr of title. aii rig6t, title and interat of the Mortgagor in aad to anr suc6 abstract or abstnets of titie s6a11 paas to the purcl~aser oc ~
grantet. ~
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11. T6at no vraiver of aoy covcaant Lerein or in tLe obU~ation xeured htreby sball at any tiaoe 6ereafter be 6eld co 6e a~sai~er o! ;
any of the otber term~ hercof or of che note secured hereby. ~
12. T6at io order to aocelerate e6e macurih of c6e indebcedaes. 6erebr secu~+ed because of cbe fa;lurc of ~e Monga~or ~o par aur caz #
:ssasment. liabiliry. obligation or eacumbraace upoa said pmpe~ ss 6eran pro~ided. it ~hall aot be necessary oor requisite tbat tbe Mortgasee
shail ~nt pay the same.
13. _ T6at if t6e Moctga~or s6a11 fail. neglat or refwe ~or a period of t6ircy (30) days fulty and pcanpcfy to pay the amouats er-
quired to be paid by the eote bereby tecured or the ioterat tLerein specified or any of tbe sum~ of moner Lereia referred to or 6ereb~ so-
cured, or otberwiae duly. full~ and prom~tly to puforin. eucutq oompl~r wit6 and abide by eacL. every or any of the wveaaab. ooaditioo~
or stipulations of tLis mort~agq t6e prom~swry oote hcnby sacured =nd/or the tonstruetion baa agreemrny if any, tbeq and in eit6er or ia
any of sucL evmt~ witlaut no6ce or demsnd~ che ~aid aggregace sum mearioaed in said pcami»op oote, less pnviow ~ymeota. if aa~. aod
any and all sums mentioned 6erein or secured 6erebr s6a11 beco~ue due and pa~abte foct6wit6 or theresher at t6e rontinuing op4on of tbe
Mortgagee as fully and oompktelr ss if uid aggregate swns were originall~ stipulated to be paid at suc6 time. anrt6ing in said pnmia~o~
note or herein to t6e contrary notwithstmdio~ and t6e 1N.ortgagee s6a11 be rntitled t6ereupon or tLereafter ~it6out aotice or demand to io-
aritute su;c st law or iueq
mtr to eaforce the rig6b of the Mor.gagce hereunder or undcr said promi»or~ note. Ia the evrnt of anr defaule
or brescb oo t6e put of tbe Mortga~or 6arunder or under said promis~ory note~ t6e Mortgagee s6a11 6a~e the contiawog o~ion to eaforoe
paymmt of dl sums sceured hereb~ by action at law or by suit ineq
mtp to foree{we t6is mort~tg~ at6er or botb~ ooncurready or at6erwisti
and oae aaion or wit t6al1 nat abate or be s bu to or waiver of tLe Mortgagee'~ tiQht to imtitute or maiatain t6e otber. pro~ided said Mort-
ga~ce shall Lare only one paymcat and utisfaction of said iodebtednas.
14. That in t6e eveat t6at Mortga~or ~6a11 (1) ooment to t6e appotutmmt of a recaver~ truuce or liquidator of alt or a~ubaantial
part of Mort~a~or'~ areb. or (Z) be td'ndtcated a baaktupt or Luol~ or file a~oluatu~r petition in bantruPtcy. or sdmit in writin~ its
inabilit~r ~o pq ib debt~ ar tbe~ become ~ne, or (3) make a~eneral a~a~.+oeat for t6e bmefit o~ crcditon~ or file a petition o~ a~wa
~akin~ reorQaniutioo or arran~emmt witb crcdieon„ or to take ad~aota~e of anr iasol~enc~ Itw~ or (S) file an aaswer admittin,~ t6e eo~
ceri~t alle~etions of a petition filed a~aimt the Mortga~or in aoy bankrupet~~ fe0t~fllftt100 Oi ~D~OI~lDCy p~Otttlllfl~ O! (6) actioo s6a11 be
cakca b~ the Mort~s~or for the purpae of effaan~ anr of the foresoin& or (9) ae~ order~ jud~tnent o~ dacee shail be ente~rod npoQ ao
applieation of a cceditor or Mor~gagur by s aourt of oompetent 'nrisdtction appem~ins a pedaa~ seetin~ appoinnnent of a radver or trwtee
of tll or a subatandd part of tLe MortQago~s a~en and snc6 o~er, jwi~nent or deceee shall oontinue ~nsta~ed aod in effea for an~ period of
thtrt~ (30) ooo~etuti~re dar, the Mort ma~ daclsre the aote 6erebr ucutrd fottbwith dae and pa~ablq wbereupon t6e rineipal of snd
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t6e iaterat soeratd on the note and al ot6er sums 6ereb~ sccured shall btoaae fortLwitb due aad ps~able as if all of t6e said ~ums of mone~
were ori~inalli wpulued co be paid on suc6 dsr; tod t6ereupon the Moctaatee wit6out noda or demand ma~ pro~ecute a suit at !Yw and/or
in equttp a~ if all mooia sec~urd henby had matuted ptiot to ib lmtitution.
lS. T6at t6e Mort~aace or any penoa :uthorissd b~ tLe Mort~a~ee ~Ldl ha•e c6e riQht to eater upon and iwpea cbe mortpsed
premias ac ~11 reawnabte dmes.
16. T6at an~ swa or sums wWch m;y be baned or advanced by tLe Moct~a~ee to tLe Mort~sgor u any time wit6un tea (10) ~ean
frocn tLe date of this iadenture, to~ether ~tL interat theraon u t6e rate ssrad upon st t6e time of wcb loaa or ad~ance, sball be eqwll se-
cured witb and La~e t6e same prlority as the ori~inal Ind~tednea and be subjat m all the tenns and prorisioo~ of t6is mort~aZe: Pro~ided~
tbat tLe t~re~ste amount of principal ouatu?dtn~ u any time shall not e~ceed an amount equal to one 6undred and fift~ per ceat (1S09L) of
t6e prineipal amount orisindlr ~ecwred becebp.
17. T6at~ tf req~ired br Mo the ~afd Moctp~ur ~.Ill pa~ nato cbe Mortsa~e~ oo t6e firn d~y of e.aeL aad evcry ooo~auti~e
u
roont6, t wmeq nal to one-twelft6 of e snnnal ~mount nae~s~ar~ ~o pay tU taza aad uurmenu a~aimt the scid aartgaged Pran~ said
mont6ly swn to be estimsted ~olely by Mo and ukatated to be an amovne aa iar thaa tbe amoaot of tua aau~ed Rgainst ~aid moet-
ga~ed Premira fos tLe preriom year, and~cc6se required br Mortga~ee w pq all tmuraace prami~ms in manner and form r pro~ided
herein for the psyment of: taza md a~b.
1=. Tbu in t6e r?ent t6e bsn whtc6 tbi~ mortjsp b p~ea to seenre b wnde for t~e pnrpae of finandn~ dtber tLe oooKruetioo
of new buildiap or tbe ooostrued~ of Impem~emenn aad/or addi8ooi oo a~tint buildin~r, tLe Mortp~or. ifreqwred b~ t6e Mmtp~
exprepl~ ~en to depo~it~ wit6 tbe Mort~a~ee or ia dai~a~ced a~eat aa amount of mooe~ equal to tbe differeoce bawaa the aa proatd~
of ebe ban and che t~cal ~mounc, +u daermined br t6e Moct~a~ee, aquired oo fnllt aomPleoe uid ao~c8on fa soonrdance wit6 t
b
e plsw
aad ~paiflcadoru bernofore aubmiaed b~ tLe Moct~a~oe ~nd a~pp rmd b~ tLe Morep~e. S~W amonat of moos~ ~hdl be plsad b~ tbe
Mort~a~ee in a"Loua io ProaM Aooouet" in t6e esme of t6e Mort~a~or~ and t6e ~ame ~all be wcd b~ tse Mortp`a t~ pay t6e oo~er.
c6arQes aad ezpen~a incurred in oooaeedon witb uid ooouruetioo prior rs dlibnr~ot t6is Iwa. It ii furtber asrad that in the e~mt
~aid oon~truedon i~ not full~ oan pleted on or befors tDe date st~ted in tLe Coo~t Loaa t or t a t
b e e v e a
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aaid ooo~tr~ctioa ~h~ll eease before full cam~lett~ wd sueh ce~adao sbaU oontinue tor a pedod~l0) da or •if ~nbu~ntiat oondnuow
Proara~ s6all aot be made in ~ue6 con~trncaoa, ehen aad io an~ ~~x6 ermt t6e aid aateQate inm, priocipal sn~ intcrae. mendoaed in ~atd
promirorp note, aad all aoooia ~eeured beceb~, ~6a11 beoane due aad payable fortha+ith or thereafat at ehe option oE raid Mortp~ee; and in
the e~ent of ~uc6 aaation of work u aid oon~trucdon for s period o! ten (10) dar, or if su~tantial oa~dnuow pro~res r6a11 aot be
made in ooomixtion. u aforesai~tbe Mort~a~e ma~ u ib opdoo enter inco ~ad npon the mort~
~eed premi~a aad cmnp(eee uid oon-
nruedan in nx6 manaer a~ it dcans ad.Labie wie6out ~ar incerfereaes feom tbs More~e~?r; t6e ~aid Mort~a~or bereb~ d~ie,~ aod ~au~n~
to tbe MoetQa~ce full powa and authority to make sneb ener~ inoo ~ad npon ~ald moctpsed premisa, to enter into wc6 cootrsca or u-
ran~emeaa a mar be necasary to ~omplete s~id aoa~truaioo, aad ro a~pend an~ monia ranainios in aid "Loao~ Io Proeew Aoa~owu" snd
in addition anr ~ums of rcoaer neas~ar~ to oomplae said oon~truetion; ~nd anp and all monia ~pended b~ tLe Mort~asa in oonnution
wicL sncb oompletioa of eoiutrnctioa in ex~ of t6e reonia in ~aid '2oam in Proces Aooount" ~6a11 be dded eo e6e ~aid principai debt and
~6a11 drsw interat at t6s rate pro~ided in said promiawry note, and shall be secared by t6ia~~,~ ~bsll be~y~ b~ t6e Mo~a~or
on demanQ. ~
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