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S. ZLc ia tre ereoc of ~ tuic bcia~ ia~atute~; !o for«ba t!w ~ t6e ~ eltall se eotitled a ep~l~ at aoy timc duna~
sucb fo~eclnsuro suit to tbe caut ?aria~ ~urisdictioa tbc~eqf tor the appoiauneee of a ~ecei~a of dl aod sin~ular tAe morcta~e~d Prope:t7. aad
oE al! rcou~ iacomar Profia. issues aad revenua tlu~eof. Ecaa Rhan~oe~e~ aurce de~i~ed; aad thercupoo it ti 6ereD~ e:prasl~ c~•eoaated
and ~rctd tist che couK ~aall Eonbwit? appoint suc6 rcccircr wit6 ebe u~ual po~cca and dutia of recei~ers. i~ like casa; aoJ isid a¢ '
paaemeat sAaii be raade ~y the rnuet as a mactt~ of arict ri~Ot to ~be Mort~a~ee. and witbut reEereocs to tbe sdequae~ or insdcqwcp of tbs
.alue of the pcoperqr bereb~r ~oocq~a~ed, or co the al~eucr or iasolvcae~r of [6e i~lorc~a~or ot aa~ otDer paaf dcimdaot to tuc6 wit. T1w
bioti~a~o~ 6sreb~r tpecificallY waiva ~6e ritbt eo object ~o tbe appoiapoeot of a n~ctirt~ b aforesaiQ aad huebr e=prsss2y cobftnb thst we`
appoiatmeat shail be ioade as ao adauncd squiq aad as s muter oE abwlute ~~6t to che Moccea~ee aad tsu cbe eame may be doae aitAow
oocice to cDe biort~a~,
6. Tbu if au~ praecdin~s ~hould be insdtutsd a~aiau che pcope~ w•end b~ chi~ morc~a~e upoa aar ocbe~ Grn or claim w6et6er
~uperio~ nr juna~ N tLe lien of tlw mort~a~ tbe Mortta~a may at ia optioo immc~liatei~ upon iwtiiucion oE sucA suit or derins tde pead-
rncy tlt~euf dcclace tlus ~oort`ase sad t!u iodebtedaas ~etured heceb~ due and p~yable fotthwit6 sad nasp a~ ia op6oa p~occsd ro forociae
this d?on~aga ,
7. To pay ail aad sic~ular tae oos~ tca~ clsr~es and upaaes of erery kind. iacludiag tbt cat of an sburact oE title to said landr
found to be ooareaimt or e:pediwt i4 co~?ocetioo wit6. aup suit for t6e fonclosure of t6is mo~~e, and abo iacludiny wLethet t6e Martsa~ee
is obli~ated to par same o~ aot, teasoaable attocneys fca incurrcd or upcaded at aor time Sr the Mott~atec Escswe of tae hiture of tbe
Mortsasot to perforu~, cDroply witb and abide by all o: znp of tAc ou~enaaa, oonditioa~ and stipuluioa~ of aid promieory oote, or t6ls
mo~a~q in t6e forcciaauro of t6is aa~agc aad in wllectine the amount ~ecurcd 6aeb~ r?it6 0~ witbout te~al proeccdia~ sad to ceim-
~unc t6e 1?tortgagee for crcry pa~-~ecot msde or iacurc+c+d for any sucb ~urpoas aitL iaterat feom date of e~eh snch pa~moent at the rate of
ci~6c pa ceot (!9i) pec annum; suc6 psrmeob and obligacon~ witL ~uterat t6ereon ~s afon»id. shaq be ~rcd b~ t6e lien bcrcof.
t. To ~ t?e baildia~ ot buildinp now or 6e~cafter on said laod iowrsd s~aiiat Iws oe dams~e firq escended oo~irase and
ot6e~ peah, incl a~ waa risk inwranee if a~ailable. in a~um nat tas thaa chd~ full imunble ~alue u t6e oo~t and r:pense of tbe Mort-
gagor in a canpany or wmpanip aPPro~ed by t6e Moctgagce~ cbe poliep w policia to be beld bp tLe Mortgagce~ aad suc6 poticp or policies of
insucance shal! ha~e afBzed theceto a Staadard New Yodc Moctgagee Ciaus~ making alt Iws or lossa under sueb potic~ or policip parabk to
tl~e Mortgagec as its iatcrat may appcar. aad to deliver said polic~r or poliaa to the Mongagec w6cn issued wit6 t6e recnpb for t6e pay-
meot of the premium tberefor; and io the e~eat aa~ swn of monep bc~comq papable undt~ sucA polic~ or policies„ the Mortgagee si?sil 6a.e
tbe option to retei~e and appfr t6e s~me oa soaouat of tbe indebttdnp~ scrured bereby or to permit tLe Mongagor to recei~e aad use iti o~ aay
part t6ereof, fo~ otlser purposes. vvittiout t6creby srai~ing ot impairiag aay equit~, tieo or ri g6t uader or br rirtue of t~is moctgage; and
ehe Mortgsgee if it demn aecessary may piaa and paY for wch ~mu~aoee~ or a~r wn :beroof, wit6eut bdng~ wai~iog or affeetiug Mort-
gsgce's optioo to foreelose fo~ brcuh of t6is oovwaot, or aay 'part thereof, o~ any ri 6t o~ option undet this moctgage, and e~ery sucb pay-
ment :ball bear ioterat fran date t6eceof until paid at the rate of eig6t per taK (i~j pe~ anoum. aad aIl ~ueh paymtota wi:b iatsrat a:
aforaaid shap be aauced by t6e liea 6en~of. In the e~eat any las~ or damage L suffered Morqp$or shatl ootifr Ma~tgaace of sucb las or
dama~e within foct~tight 6oun aftec tbe hsppeoing thercaf; tbe failure to give suth uotice s6all constitute a defauh aad tbe Mort~a-
gee sAall 6a~e tLe rigLts herein givm for ap defautts.
9. To permiy commit or wffer 4o waste and to maintain t6e impm~emenb at aU ama in a ~tate of ~ood ?epair and ooa~itioe: and
to do or permit ~o be da~e to uid praaisa nahing that will alter o~ chaage t6e we and c6sracter of uid prope~ or ia an~ way impair oe
weaken tLe seeurity of said moctgagc. In case of t6e refusal. aeglect or inabi4ty of tLe Mo~tgsgor to rcpair and ~win[a:n said pmpcrty~~ [be
Mongag~ce maY. u its opfioo, make iueb repain or cause t6e same to be msde aad ad~aace monia ia t6at behalf whic4 sums s6a11 be sccured
by che Gen 6creof and bca~ interat at the rate ot ag6t per cent (i96) pec annum.
10. To deli~er the abstcset or abstnco of title oo~uing tLe mortgagcd propertp to Mortgagee or its daignated agrnt~ ..hich s6at1 at
all timea~ during tLe life of this mortga~q remaia in t6e pasasiau of the Mortg~ee aad in ertat of the forecbauro of t6is mort~age or a6er
trarnfer of titiq all tigh~ title aad interat of t6e Mortga~qoc in and co soy such abatrut or abatracb of title s6a11 pas to the purchaser or
grantee. _
I1. That no wai~er of any co~enant Lereia or in tLe obli~ation saurcd 4ece6~ sball_at ao~ time 6ereafar be held to be a i~airer o!
an~- of t6e aLer tcrms hereof or of t6e note secured bacb~.
t2 T6wt in ordu to aocelente t6e matnriq of tbe inde6cedaas 6ereby ~ecured baaose of eDe iailure of ~he Mwc~ co par aor cu
usasmeriy Gability, obligatim or axumbnace upou said pe~op~!rt~ as 6ereia peotided. it sball oot be necewq oor requiaite t6at the biort~a~se
~hall fint par tbe same.
13. T6at if t6e Mortga~r shall fail. ne~loct or rcf~ae for : period of t6irt~ (30) days fully and pranpcly to pay t6e amounb n~
Qui~ed co be pa;d br e6e oae hereb~ secared ar tt~e ioee~at t6erein specified or sn~ of che snms of moner Lerein refecred ro or bereb~ n~-
cured, oe ot6erwise dulr. fully and p~nm~Cly co perfoem. ezecutq oompiy wit6 and abide b~ eac6, ererr or aa~ of t6e c+o~eaaara~ eoaditioo~
or atiPalstiow of tbis mortsagy t6e pronuswr} note hcrebY seeured and/or-tbe oon~truecion ban agreemeat~ if anr. t6eo. aad in eicher or in
any of sucb evrnta. witbont notice or drnand~ the said aggregate sum mmdw~ed io said pmmiasory aote~ lw pre~ious pa~ments~ it anr. aad ~
an~ and all sun~s mevtiooed 6erein or securcd 6erd?~ s6al1 become due and psrsble fortLwich o~ thereafter at t6e oontinuiog optioo of the
Mort~ce u fullr and oompletelr as if said a~regue sums were originallp stipulated to be ~id at such tim~, anYthing in saiG Pn~meo~
note or 6erein to the contrar~ notwit6standin& and the Mortgagee aLall be rntided thereupon or t6e~eaker witbout aotite or demand to ia-
stitute wit st lavr or in eqwnr to mforce t6e n~a of the Moregagee ~sreunder or under sud pmmw~r~ nota In the erent of aay dcfault
o~ bnrarh m tLe part of t6e Mort~a~or 6ereunder o~ under said promissorp note~ the Morcgagee s6att 6a~e t6e oontinuiag opcion co enforoe
pa~ment of alT suw se~oted hereby br st~on st Isw or by suit ineqw ty to foralae tDis mort~age. titber or botb. ooocurreatl~ or otherwisG
and ooe action or wit s6a11 oot abite or be a bu to or waiver of tbe Mortgageda ri~ht to imtitute or maentain the ot6er. pwrided uid Mort-
gagce s6s11 6a~e only one payromt aod satisfacooa of said indebtedoas.
14. That iu t6e event t6at Mortga~or s6a11 (1) ooment to tbe appointmeat of a ncei~er~ trustee or liquiduor of aU or • aubuantial
put of Mort~a~~ asc~s, or (3) be adjodiated a bankrupt o~ inaol Ymy or $le a~ol•antar~ petition iu bankrupcct, or admit io w~iting ib
inabiliq ~o par Ib debts a~ tbe~ baome due. or (3) make a~mcral aa~~ for tbe 6eaefit of credioors~ or (i) file a petiaon or answer
seekin` reorQaniurion or arrangemmt witL +credicon, or to take ad~antage of an~ in~ol~encp law, or (S) file an answer admitting t6e ma-
terial allegatiom of a petition filed sgairot tbe Mortga~o~ in an~ bankruptry. reorganisaaon or im~l~rncr pioceedin& or (6) action s6ali be
caEen by tLe Moctaagor for t6e purpae of effectin~ snr of the foreg~oing or (7) an~ ordu, judpnent or decree s6a11 be eotered upon an
appGcatioo of a,.ereditar or Mortgagnr bT a court of oompeteot jnridictim appooriag a petitioo seeking appointment of a radver or tru~ta
of all or a substantial part of t6e Mortgago~'s a~tets and auc6 order, jad~arnt or daree ~hal1 oontinue wntayed and ia effect for an~ pcriod of
t6irty (30) eonsecuti~e day~ ebe Mortgagee may dalare the note 6e~eb~ secured forchwic6 dne cod pa~abl~, whereupon tLe priucipal of and
tbe interat aeerocd oa tDe note and all ot6er suma 6ereby secured s6a11 become furt6witb due and pa~able as if ali of the said sums of mooet
..ere originaiy ~tipatatcd to 6e paid on suc6 da~; ~d tLereupoo tLe Mortgsgee withont notice or demand may pcosecute a s~ric at law aad/or
in equits as if all monia ~aored hereby had asatured pcior to in imtituaoo.
iS. ~Lat t6e Mortga~ee or aay penon autLorised b~ tLe Mortga~ce a6alE 6s~re the ri~ht to eater upou aad inspcct che mort~a~ed
prrmi~q at all testontble 6mes.
16. T6at an~ sum or sum wLic6 ~aar be loaned or ad~au~xd by t6e Mortetgee to tLe Mort~agor st aar time ~ritbia tm (30) yean
fran t6e date of tLia indauure, to~ether wtth interat tLereon u t6e rate ~eed npoo at tbe time of such Iwn or ad~ance, sh~ll be eqwlly se-
curcd r.itL and 6an t6e ~ame priodt~ as tse ori~inal ind~tednas and be subjat ~n all t6e ceraa~ a~ pro~isiom of this mo*t~a~e: P~ded.
chat che a~ate amouoc of principal oumandieg at an~ dme sLsll na aoeeed aa ~nooaoe equd co ooe hnndred and ~ift~ per eenc (1S0%) of -
cAs principal amouut oripnd~7 sceared be~eby.
17. T6at~ if reqnired b~ Mortga~ee~ the said Mort,~yor wlll pa~ a~o t6e ldatsa~ee. oa t6e Scu da~ of eacL aad e~eq oomecutive
raootL. a ameq nal tu ooe-tvrelh6 of t6e annnd amount neces~aq eo psy dl tau~ ud esea~menb s~aie,rt the said mortgagsd P~oaises, said
mon~Lly sum t be atimated wlely b~ Mort~s~e and akalated to be an amouac not la~ tLaa tbe amount of taza asened agaimt said rmrt-
B~Y~ P~e1mi~es for t6e prs~iow fear. and ,f fw~cher reqmred br Morcgaace co pq att insuraoce premiums in asanoer aad focm as pm.;ded
here~n for tlte paymmt of. tases aad awaabeab.
Ii. Tbat ia the e~mt tbe ban w6leh tLit~rt~ b~rsn w~aun b made for the q of finanein~ at6a t6e ooostnntioo
of new bulldiap or tbe ooortrucdon of lmpe+oranana snd/or addtdoo~ ~o ~si~dns buildln~„ eLe ~~tp~t it b tbe
c~cprealr s~cees to depo~if•~+Ith tLe Morc~e or ttt dat~a
ted a~eat ~n.aiaount of mone~ eqwt toplNtbe di~srsaes~ ~ Tt6e ~p
of the Iwn tnd tbe total ~mouay n daermtaed b~ tbe 1~Joresa~ee~ eeqqlred ~s foq~ oomple~e sdd ooo~tsuetiao in ~oo~rd~aa wft6 t6e piao~
usd spedfieatiau ber~ecofote submiaed b~ t6e Mo~t~a~or sod a~pprmd b~ tbe Mortp~ee. Satd ~mouat of naooe~ aha11 be pLiced br ebe
Mort~a~te in t"Ioans in Peocew Aecnnet" In the aame of tbe Mortp~Or, aad tbe urae ~batl be wed b~ tbe Mor~a m pay tbe oo~,
ebarQes aod apen~ea inc~rred in aonoaetion wich aid ooo~truaioo prior m dl~burar~ of tbi~ ban. Ie is furcber atrscd tb~ in t6e e.euc
said comtructioo u noc fa!1~ oomplaed on or befon tbe due rtue,d in tbs ComtnietJon Loaa ~nc or in tbe e?eot thst tLe wort os
said conmaetioo ~6~11 cease before full eom~letion and soe6 ea~atioo shall aooanue tor a period o~ tsa (10) da~s, or-if sobxaatid eontin~aas
Pco~ras aLsll not be made ia sne6 oonstroetioo~ tLea aai in w~ ~ueb e~eat tbe aid a~re~ate ~om. Principal aad inte~ay mencioned ia aid
prom~so4 nae~ and :11 mon~s~ aeeured Lereb~, shaU beoome due aad paJable toctLvrit6 or tbereafoer. a t6e option of said Morigasee; and io
cbe e~eat of sucb ceaation of wort n said aoostn~etion for a period of tes (10) daps~ or if subuaotial oootiooous progrcas ~ha11 oot 6e
made in such oonstnxtion. u aforaai~t6e MortQa~ee nea~ st ib optfon eater i~to aad opoo tbe mongsge~ premixi and eompkte said ooo-
scroetion io wcb manner s~ it deems adri~able wit6out aa~ inte~feeeaee frm~ tbe Morqa~or; tLe said Mortga~or ~~i~ins and ~ns
co tLe Mortgagee full power snd sutbority ~o make sue6 mtr~ iato aad opbn ~aid mottgajed premises, eo mter into wcb eoatraas or :r-
raagemrnts as ma~ be neeasa~ to oomplete said con~tcuctioo, and to a}~eod an~ moaia remaining in uid "I.oans io Prt~ua Aoooua' and
in additioe an~ suma of nwoe~ nccessary to canplete ~aid ooosnnaioo; and an~ and all monia ezpeaded b~ tLe Mortgaaee in cooneuion
wit6 suc6 eompktion of ooostrnctioo in czoess of t6e monia in said "Lwn in Proces Aaount" sbaq be added to tbe said priacipal debt ~nd
s6a11 draw interat at tbe rue pro~idcd in said pwmia~op sat~ ~d~h~{I,~e secu~ed bY y~i~portga~e, ~nd ~6s11 be pa~sbls b~ tLe Mortp~or
on atmaud. ~~OK Vx PACE 4~~
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