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S. TLac iu eLe erenc of a sulc bcia~ iwacuted a ioreciwe thi~ ~oort~ cle Moctp~ee ~6a11 be eadtled to applp at aap dme ducin~
•uc6 focalosure suit to the .rou~t 6avia~ ju~isdiaiou t6eceqf fo~ che appanunea~ of a roce+~a of d~ wd si~u~u the r°°~a~sd Pc
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of all ant~ iaooma, profia, uwa an rrvenua t6ucof, from Rhaaoe~er aurce de~i~ed; and theccupoo it b 6ercbr upre~slp
and sancd that t6e coun s6all fonhwit4 ~ppoiot suc6 receiver vritA t6e wual povren aad dutia of raej~ecs. in lib casa; and aid
poiaaneot shall be made by the rnurt as a maau of stcict ri~6t to t4e Mort~a~ce. aud without rehrence to tbc adequaep or inadeQuaey ot ~
ralue of the pcopetq 6erebp mo~t~aged. or to t6e solrencT or inaolvtacy of the Mortp~o~ o~ to~r athec patty defwdsut cn ~ueb wit. 1~e
Mort~a~or 6ereb specifically Raiva t6e rig6t to objeet to the appoiaunent of a ncci~e~ ~s aforaaid ~nd 6eceb~ up~ly comenb tbat wer
appoiAtmeat shal~ b~ made u an admitted equitr and as a macter of abwlu~e ri~bt co the Mor~a~e~ and t6u t6e wAe mUr be doae wittiaR
notice to ebe Mort~a~or.
6. 'Ibat if an~ proeeediogs sbould be inuituted a~aainst t6e prope~ ooveccd br, t6ii mortsa~e upoo an~ ot6er lim or claim wtiet6er
~upuio~ o~ junior ~o tbe Geu of this mortga~e, t6e Morteagee may at its optioa iu~~mc..:atel~ upoa iauituaua of suc6 suit oc durln= ttie pend-
wcp tLereof dalare t6;s mo~teaQe and the iodebtcdnas ucured herebr due and py~able tort~wicb and inq at ia option pe~oeecd a loteelae
this aooK~age.
7. To pay all u?d siagular che cost~ fcea. c6arga ~ad uperoes of e~eq kiod, Ineludio~ tbe oat of an abstract of titk to said land~
found to be oonvenieat or ezpedieat in connection with.aay suit for t6e fotalaure o~ this aud abo includin~ whetber t6e
is obU~ated to pay same or not. reasonable attorne~s 4ea iaeurnd or upended u an~ time~b
~e 1~Iortta[ee beeawe of t5e fdlure
MortYagoc tope rform. comply wit6 aad abide by all o~ any of ~he oo.eaana. oondiaar aod seipuladoo~ of ttid Pradror7? Aot~ o~ t6b?
wort~a~e. ia the forecloaure of this mortgage and ia cullectin~ t6e amount secured 6ereb7 with or witbo~t Ietal~ P~'°oe~din0.
bune the Mort~a~ce for every payment made or iacurrcd for aa~ suc6 purpae wit6 iaterat fraa date of sveq ut6 paymeat.
eit6t per ceat (i96) pe~ annum; sucb parmenes and obli~atioas~ with intece~t tbere~oo as aforaaid. ~6s11 M sesured by tLe 4en tiee~of.
To teep tbe buildinQ or butidin~t now or ~e~eafter oo taid land inwad a~a~n~ 1oM o~ dama~e b7 fin. ertmded omrera~s ~d
other perils, includins ws~ risk tnwraace iE available. in s~um ~not las eban t6d~ full iasanble ~alue at t6e oat and e:peme of tLe Mort- -
gs~or in a oompany or companies approved by c6e Mongagee, ehe po1K7 or pelicia to be beld b~ cbe and sucti polie~ or polieia a~
iasurance s6a11 6ave affized t6ereto a Staadard New York Mortgatte Clawe. makioa all los ot lasaes unde~~r
s polity or Poliaa W7abk m
the Mongagce as ib iaterat may appear, and to deliver said potie~ or policia to the Mortgagee w4ea iswed w~t6 the eetdpb !oe tLe pa7•
meat of t6e premiwn thereEor; aad ia t6e event anq sum of mone becoroa payable nader ~uc6 polie~ or policies, t6e Moctga~ce sball ba~e
t6e option to radve and :PPIr the same oa aaount of the ind~ ucuad beceby or to permit tbe Mortgagor to rcea~e aod we it, or an7
part t6eraof. for other purposes. v~itLout thereby waiving o~ impairias an~ equi4. litn or nght under or b~ tirtue of t6is mo~t~ate' aod .
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t6e Moctgagce if it deems aecasary may plue aad pay for suc6 ~muraace, or ady g:.:: t6ereof. witdout tosin~. wai~ini or aftecting
~ageds oppon to forcebse for breach of t6i: ooveoany or any part tbercof~ or anr nght or option uodet this mo*t~Kr. and rer7 s~ MT'
ment ~6ai1 beir interat fran date thereof until paid at t6e rate of tig~ pa o~t (tzJ6) pa annumr a~d d1 ~ue~ WYmeots wltD in~at ~
aforcsaid s6a11 be aecured by t6e lien 6ereof. In the event any ba or dama~e u suffercd Moress~or s6aU notif~ Mortis~ee o~ wc6 lor o~
damage witlue forty-eight (~3) houn after the happrniag theraof; tbe failure to gi~e such uotice shall eamti~uce a defsuh aad tbe Mortp-
gee sAall 6~ve the righb herein given for all defaulb.
9. To permiq oanmit or wffer oo waste and to maintain tbe Impro~emenb u aU tima in s stste of ~ood repaic and aoadition; and
~o do orpe rmit to be done to said prea?isa nothing t6at will alter oc ehan~e the we ~nd charaeter of ~aid prope~ or in anr ws,~ impatr et
weakm the aeeurity of said mortgage, ln cax of t6e refusil. neglcet or inabilit~ of t6e Mottga~or co repair and maintaia said p~opertr, tbe
MortYagte map~ at iu opfiay make such repain or cauu the ume to be made aad ad~anoe mooia ia that besalf wLic6 ~unu shall be seenred
by the lim 6ereof and bear interest at tLe rue of dg6t per cent (f%) per ~nnum.
10. To deliver the abatract or abstncb of title oorering t6e moctga~cd propertT to Mort~a~ee or its daiQnattd a~mt, ~s6icD shall at
all tima, during tLe life of chis mortga8e, ~tl~illl lll ~L! POplftlOA OE tbt MOIf~t, iDd in e~ent of the foaclosure of t6i~ mortgaQe or at6a
tramfcr of citlq all rig6t~ citle and interat of tAe Mort~agot in aad to anr socL ab~tract oc ab~tracb of tide ~hall psn to the Darc6a~er o~
grantee. - -
11. T6at no vrrai~er of any eovmant 6eran or in tbe obli;atioa secured hereb~ s6a11 at an~ time 6ereafter be held to be a Rd~er ol
any of t6e otLer terms hereof or of t6e aote secured 4ereb~.
12 That in order to acceterate the maturity of the indebt~dnes Leceb~ secured becau~e of t6e fai~nce of tbe MortgaQor co pa7 ~7 ~
assasmeM. Uability. obligscioa or eacumbrance upon said propert~ n he~aa pcorided. h s6a11 aot be necasary nor re9uisue that tbe Mortp~e
s6ai1 fint par t6e same.
13. That iE t6e Mo~tga~or s6a11 fail. neglat or refwe for a period of thirt~ (20) da~s fally snd piomptiy to WY tbe amo~mb rN
quired to be paid by tbe note hereby saurcd or tbe incerat thereia specified or aa~ of ~e sums o~ monef Lereio ~[erred m o~ bereb~ K'
cured, or otherwise dWy, fuli~ and pranpcly m perform. ezecute. eanql~r witL and abide b~ eaeb. e~er7 or an7 of t6e oo~maae~ oood~tim~
or ~tipulations of t6is moct~sgq the pramisaory note hecebr secured and~or the coo~tructioo ban a~rament~ tf ~np. tbm. and iu dttier ~
anr of sue6 events, witbout notice or demand. che said aggregate sum mrndoned in ~aid p*omis~or7 oo~e. 1a~ PK~ious W7~. i~ as7.
anr and all sums mentioncd herein or secured 6ereb~ s6a11 beoome due and pa~aWe forthwith or tLeratta at t6e oo~ionins optioo of tre
Mort~ee as fuly and completd~ ss if said a~grega~e swm were ori~inallp sti~ulued to be paid ~t sacL tim~, ao7tLing in said pnmiNOr~
note or herein to the ooatrar~ not~ntMaadin& and t6e Mort~agee ahaU be eaatkd thereupon or tbcrafter witbout nodce or danand ~o ;n'
, stitute wit at lew or ineq uit~ to enforce tbe rig6a of tbe Mortgagee 6creunder or under said praniaor~ oote. In the e~e~ of uer ~fauh
r or breacb ao thE part of t6e MortBaBot 6treunder or uoder said promi~or~ note, tbt Mort8a8te shall 6a~e the aontinuias opcion to enforoe
pa~ment of all swns secured hereb~ br aedon at taw or by suit iaeq
nitp ~o foreelae t6is mort~~e. dtbe* o* both~ aont~rrmtl7 a ot~e~~.
and ooe sctiou or suit s6a11 aa abate or be a bu to or waiver of the Mortgagct's ri~t ~u imtitute or tnsiut~iu tbe otLer. pro~ided said Moet-
p~ee ~6a11 6a~e only one paym~t and sausfaction of taid indebtednes~.
I*. Thu in the event t6st Mortga~or ~6a11 (1) oomeat to t6e appdntmeat of a rcui~er. mutee or Gquidaeor of sll or s snbaantid
_ part o~ Mor~~ aseb, or (2) be ad'ndicated a banlcrupt or insol~my or Sle s~oluntanr petitioo in bank~upa~. or admit in writiu~ it~
insbilit~ to pq its deba as tLe~ baome ~uG or (f) mike a~eaenl arip~ment for t6e bmefit o~ utditon, or (4) fik a pedtim or ao~wee
sed~io~ reorQaniutioo or arrangemmt wit6 creditors, or to tate advantage of aa~ [moheney taw, or (S) file an ao~wer admittini t6e mt'
terial dlegatiom of a petition Sied against tLe Mortga~or in an~ baatrup~c~. reoc6anisation or imol~eney Proeeodia~ or (6) attioa ~all be
takm b~ tLe Morcga~or for t6e purpae of effecting an~ of the foregan~ or (7) anr order~ jod~oeot or daree shall be enteced npon ao
applicuion of a ereditor or Mortgagor b~ a court of oompetent jurisdictioo approvio~ a petitian sal~int appoinm~ent of a reai~er o~ trwtas ~
of ali or a substantial part of tLe Mortgagar's a»et~ and suc6 order. jud~neat or decrce sball oontinne ~nw~ed aod in effa~ fo~ an7 P~ ~ }
thirtp (30) ooo~ee~ti~e days. t6e Mortgagee may daelare thc note hereb~ secured fort6wit6 dae ~nd paTable. w6ererpon tbe priaipa! of and
tLe interat aecrn~d uo cbe note and all other sums 6ereb~ securcd shall bcoane fort6witb dne and pqable a if all of the s~id sums of mooe~
were origindlr sapulsted to be paid on such day; and t6ereupon tLe Mortsa~ce witlwut ootice or demand ma~ praiecute a suit u lsw and/or
in equitT as if all m~ia secared beceb~ 6ad macnred prior to ib imtitutioo-
iS. T~at t6e Mortgagce or any perwa anthoriud b~ the Mnrtsa~ee ahall 6a~e t6e ri~6t to enter upon and impeet t~e mo~
premi~es at all rea~oaable times
16. That an~ sum or sums whic6 mar be baned or advanoed br tbe Mo~e~a~ee eo ~be More~a~or ac anr ~ime Ri~hin tm (10) ~n
from tLe date of this iodenturq wget6et with interat thereon u tbe rate a~reed npon u ebe time of soc6 lo~n or sd~ance~ s6a11 be eqwU7 se-
enred wic6 and 6a~e the ssme prioritr ae t6e originai indebtednas snd be subjat to all t6e terms and pro~isio~a of t6is mo*t~a~e: pe~ided+
t6at tbe a~reQate amount of principal o~mtanding at an~ time s6a11 na e~ceed an ~moant e9n~1 to one hundred and fift7 PK emt ~iS09fr) °f
~e prinripal amo~nt originall~ secu[cd hereby.
17. Z3at~ if required b~ Mo~ee. tLe ~aid Mortga~or wtlt pa~ unto t6e Moet~asey on tbe fint da~ of eae6 aod e~eq oodecua~e
month~ a wmeq
nal to ooe-twelftL of the annual amount ncuasarr to pa~ dl -taus and asa~menb sQaimt t6e said mortgaged premisa. sdd
mont6ly snm to be atimated solely by Mortgag~ce and cakulated to be an amouat aot lar tban t~e amoant of taza aweMed agaimt raid mort-
gag~d Premius for tbe pre~iow jear, and if furt6er required by Mortgagee w pa~ all irouranee premiams in mamer and form a~ pro~ided
henin for tbe paymeat of, taus and asaemenb.
iR Z3at in tbe e~ent tbe ban w6ich tLi~ mortta~e h pren to taure b made ~os e5e of finaoeins dtba tLe aoo~en f
of new baildinp or tLe oomtrucaon of impro~emena aadlor additiow eo es~ins b~dWia~ t~e . i~ nqaired b~ t6e Moet~iae.
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p o sf wit6 the Mortgaga or Its~ated agent an amount of mooe~ equal ~e ttie fEereoee 6etween tbe ~t P~
of t6e loan aad the eotal amount. a~ determined by tLe Mort~ee, rey~ red ~ f~dl~ aaspkee sdd ooo~traetiaa !a aooordana witti t
b e plam
and ~peeificadoos beceeofon sub~itced br ebe~IViortga~or and appro~ed b~ tbe Mo~tsa~ee. 8atd amouat of mooef r6a11 be plaeed b~ tke
MO![~istt 10 i°LOiDS it1 YfOC!!/ AC001lOt'~ ~D tb! O~ tLC Mort~a~or~ and t~e ~a~e ~hall be wed b~ t6e Mortp~se to W7 t6e co~
cbaraes and apema ineurred io ooaoa~on ..itL ~aid aonunx~ p~or eo dirbu~ns o~ thit loan. It L furtLer airad tbat ia t6e erent
said oonstnKtion is not f~li~ completed on or btfore tLe dm stated tn t6e Coo~trnctioo Loan or in t6e e~ent that t~e w~urk oa
said ooortructioo s6ai1 oea:e before fWl oom~letion aad soc6 ca~ation shall aondnne tor a period ao (f0) da7~ or3f sob~tantid aootinoo~
P~'o[~ shsll aot be made tn suc6 oomtnxt~oo. c6ea aad In aoy ineL e~eat t6e atd a4re~ate wn4 Prineipal aod i~r~. mentio~ed in aid
prom~~prp not~ and al) monia see~red 6t[eby~ shall baane due and pa~able forttie~tth or tDereafta at tLe option of said Moep~ee: an8 ie
che weot of sucti a~aaon of work upoa uid oomtrnetion for a period of an (10) dap„ or if sa~taotial aootinnons pro~re~ s6a11 not bt
made in snc6 oookrueei«ti as aforaaid. the Mo mar n!d opdon eacer inco and npon t6e pnmi~a and oomplete said aoa-
stroedoo in a~cb manaa as it dcems ad~isable ~ an~ interfeceoce fi~om t6e Mor+"~or: t6e spi~ ~bl d~i ~ R~
~ tbs Mort~ee fall power aod authority ~o make sueh eMr~ iaeo aad npon wid mortp~ed ~r~i~a. to enta into ~6 oo~ra~ or u"
ranfanenb a~ mq be ueeewarr to aanpkce sa;d oonscnxtioo„ and 1o s~end aa~ monia remai In aid "Lwo~ in ProaM Aooouat" aod
in additioo ~a~ ~ums of monr~ naeaarr to oanplete raid ooatroaion ~~d an~ and all rnooda espeuded b~ tL~ 1Ro~epi~ ia oonoeedoa
with ~nc6 oompietioa of ooo~ruction in rxce~ of t6e noon~a in said "Loans in Proees Aoooant' ~htll bs sdded b t6s s~id prineipd debt and (
~6a11 draw interat at tbe rate prorided ia ~aid praniaor~ note, and r6all be secured br tbis mort~a~e. aod ~a11 be p~~bk b~ tle l~ort~e~
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