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S. Thu in tbe erent of ~ sult bdn~ imdtuted ~o foralas tlw mon~ t6e Mortsssee ~4a11 be endcled to app1~ u aap dme duria~
~ucL fo~tclowte suit to t6e oourt 6avin~ jurisdiccion thcrcqf fo~ c6e appo~nqoeae of ~ raei~cr ot ~il ;ad do~ulu t6e rnort~a~cd propaqr~ sod
of all nap, tacome; profib, itwts and cerenusa t6ereof, Irom ~sLanoersr iource derived; aod thereupon it i~ 6e~ebr exproql~ coreaaatcd
and ~reed tLst eLe court shall fon6with appoiat sueh receiver with t6e wual powero snd duda oE ceeei~ea. in U1ce cases; ap.
poinemenc s6sll be made by c6e oouct as a maae~ ot Kria ri~hc oo t6e Moc~a~ee~ and wittaut refenoce tn tLc adequscy or inad tis
raluc of t6e propeet~r 6eab7 mo or to the ~oheacp o~ ia~olveacy of che Mon~a~or or sa~ a6e~ part~ defeadant to sue6 sult. Tbe
Mon~a~u~ 6crcb spai~ieally waiva c ri~bt ~u objeet to tAe appaapaeat of a recei~er as afoceaid and herebr ezpreafy ooauap t6u a~cb
~ppointment shal~ be made a~ an admitted equiq snd a~ a wacter of abaluce d~At to che Mo~ and c6at c6e same ~na~ be doae wichow
notice to tbe Mort~s~or.
'Tbst If w~r proetedin~s sLculd be intdtutcd asaiost the propertp co~ered br t6is moct~a~e upoo an~r other lirn or claim w6etbet
tuperior or juuio~ to t6c Gm of this mort~a~e. tbe Mort~~ee auy u ia optioa irnmcdiacely upoa iaui[utioa of aicb ~oit or ducia~ t6e pa~d•
mc~r tLereof dalue tti~ nwrt~a~e aad t~e indepteduw ~aured Leceb~ due and p~yable iort6vncb aad anay at ia opaao procced to forcelae
chit ~oortqaga
9. To par all aad dngulu che oo~a~ tea, c6uga aad ezpenta of ever~ ktnd, tneludIag e6e cae of ao abuacc of dele eo u;d l+nd~
Eound to be oonreoicnt or eYpcdieut in oonaatioo witb.aa~ suit fos t6e foreclosure of tLis mo~ag~ and alq inclndin~ w6ethee t6e Mo~~~
i~ obli~accd co par ume oe not~ reasonal~le actorney~ fea tocurced or ezpended u an~ time br cbe Mort~a~ee becawe of tLe failure of t6e
Moct~a~o~ tope ciora~. eanptr wic6 and abide b~ a11 or aay of the a,~eaant~, oondidoir aud itipuluiau of aid p~omiwory naq or tbis
mort~a~e. ia the forecksurc of this aact~a~e and ia ouilatina tbe amouot ~ecured henby with w wit6out kpl proceediup, aud t~ aiu~.
bune t6e Mo~s~ee for every paymmt made or ineurred for aq~ ax\ pucpose wi~ iucenat fr+om date of eacq suc6 paya~ent u tbe rate of
ei~it P~r aat (qfr) pee anaum• sucb at
. M7~a aod abli~aaoah wit6 ioterat t6ereoo a~ aforaaid, s6a11 be ~ecuted b~ tLc liea 6ereof.
f. Zb keep tbe b~dldio~ or bnildinp now or 6enafte~ on wd land inwred a~aiost loa or damate by Sr~ ernaded on~ers~e sod
other perib, includin~ wu risk insuranee if availablq io a~um bot less t6an their full,~murabte ~slue at tLe cat and e:pe~ne of the Mort
~a~oe ia a oanpanr or oompania appro~cd br the Mortgages, tbe polic~ or polida to be 6dd by t6e Mo and suc6 polic~ or poliaa of
insurance s6a11 have affized theato a Sandud Ncw Yo~k Mortga~ce Clause. making sll loa~ o~ laases under s ~oliep or policia payabk ~o
t6e Mongagce as ib iate~at may sppeu~ aad to deli~er s~dd polic~ or policia to t6e Mortgagee wbeo iuucd ~nt6 t6e recdpb for t~e pay-
ment of the premium therofor; and in the event aay sum of e~r becoma parable under such polic~ or polieia, t6e Mortgagee shali bave
t6e option ~o raeei~e and appl~ tbe same oo aooouot of tLe iude~tedna~ ~ecuted 6ereby or to permit t6e Moctgagor to ttceive aad use iy or aar
put thereof. for otber purposea, witbut thenby waiving or imFairin~ a~y equitp, lien or rig6t ~ndcr or b~ ~irtue of t6is moitgage; and
the Mortgagec if it dcaos neeessary may pt~.oe ~a wr ~or .~e iosurance, or an f
p~te'~ opt~on to foreelae for breac6 of t6i~ ao~ea Y PiK t6eao ~ aritLout laing. wai~iog or affatiag Mort-
ane. or au7 parc ~hereof, or anr rig6t or option under tbis mortgsgq and e~ery :ueh pa~-
meat ~6a11 bear iaterat tran date thereof natil paid at t6e nte of eig?t per cmt (i'fo) per annuto, and ali tue6
aforaaid shaii be seeured by t6e 4en 6ereof. In ~Le e.enc aay la•s or damage is suffered Mo w3~b wich inte~at a
damagr wit6in torty-eig6t (4f) boun after t6e bap~eaiog thereof • tbe failure to sbap qotifr Mo~tgagee of sue6 IoN or
, ~i~e such notiee sT~all ooindtute a defauh and t6e Mo~p• :
gee shall 6ave t4e rights berein givm for all ddaulb.
9. To permi~ oommit or suffer oo paste and to maintain tLe Impro~emeab at all timts in a uue of ~ood repair and oondiaon; aa!
eo do orpermit to be done to said pranises notWn~ t6at wi~1 alcer oe chaage t6e u~e aad ebancter of said propatp or in any wa~ impair or
weaten t6e securitp of said mortgage. In caae of tbe n lect or inabili of tLe Mo
r~fusal. ~6 h' rt~s8or to repair ~and maiatain ~aid ProP~~. ~
Mortpgee may. u in opfioq wake sucb repain or eswe the same m be made and ad~aace monia in t6at behalf which auas ahali be ucnred
by ths Gea 6enof aod beu interat at the rate of eiQbt per cent (t96) per aunwn. '
~
!0. To ddi~er t1u ab~truY or abstrscb of titk oorering tLe mortgaged pmperty to Mortgagee or its daigoued agmt. ~shich s6a11 at =
all ama~ durin~ tbe Gfe of t6is mortgaYe. cemain i~ tLe poaasion of tLe Mo~tgagee aad in e~eot of t6e toreclosuro of tLis awrtgage or a6er
transfer of title~ all ~gby titte aad iaterat of t6e MortsaZor in and to anr suc6 ab~tract or absiraeb of ack .baq pas eo the purchascr or
~rantce.
11. T6at no waiver of aa oo~eaant 6aein or in t~e obU~adon secured Lereb~ s6all at aa~ time hereafter be beld to be a~eai~er o1
aoy of ~he aLer ce~os 6ereof or o~ tLe nae seennd haeb~.
tZ. 'ibat in order to aoeelerate tLe matarit~ of tbe indebtedne~ 6ereby secared becawe of the failurr of tbe Mortpgn~ to aar wc
a~ment~ li~ilitr, obligatim or encumbrance npoa ~aid propect~ a~ 6erein pro~ided, it s6a11 not be nece~sary oor requisite t6at tbe
=Mort~a~ee
sLali fine par ~e wna
13. T6u iE tLe Mort~or shall tait, ne~ka or refwc for a period of tbirty (30) daps fully aad Promptly to paY the amouab ra ~
quired oo be paid by ehe nae Lerebr .ern~ed oe ~6e icuerat chereia speeiSed or aay of rbe sums o~ monq 6erein reterred eo o~ he~eby ~ '
cuced. or otherwi~e duly. fnll~ and Prom~tl7 m pa'foem. e~cecutS eon?pl~ with and abide b~ eaeb~ arer~ or anr of t6e ooreoaats, oonditioa
or sapuluions of ~his mo~age. tLe promwory nae 6creb~ secured ao~/or the aoo~tnutioo ban a~ti if anr. tLeo. aad in either or in
aor of enent~ witbout notiee os demand, the »ids~ega
te sum meotiooed in »id promiwory note. le~ pre~iow pa~mend. if au~. aod
an,~ and all swas mentiooed 6cceia or secured 6ereb~ ahaii beoome doe and payable fortLwitb oe tbereaiter at t6e ooaanuingopuoo of tbe _
MorttaQee as fult~ aad aoaplad~ ~s iE taid sp,~regace sums were ~igiaallr stipulutd m be paid at snch ti 'd pnmiwoq
note or 6enin eo tLe oonvae~ notwitMtandin~ an~ t6e Mort a6a11 be entitkd thereu aorthing in sai
stinue suit at law o~ incq
m eo mforoe the a of t6e bto~ Pou or tLereaher vnt6out naice or demand to io-
or brescb oo tbe of tbt Mo ~ bereunder or under stid pramiaory aote In tbe e~ent of ar~ ddanh
Put rt~ot rr or under ssid Promiao4 noa. t6e Mortgagee s6a11 ha~e tbe ooatinniag opcion to enforee
pa~e of all sums secured 6ereb~ b~ aa;oo u!aw or br suic in~q
uitp eo foreelwe tbis mortaage~ dther or botb~ anocurreatlr or otben?is~ ;
aat oae aetion or suit ~hall not sbate or 6e a bu to or wai~er of tDe Mortgageds riaht to imtitute or maiataia tLe aLer. pro~ided said Mort-
~asee aLall hawe only one p~yment and Wtisfaetian of said iodebtednw.
14. 'T6at In tbe e~eat tbat Mort~or s6a11 (1) ooouat to tbe appoiutc~ut of a reai~cr~ truua or Gquid~cor of all o~ a subatantial :
ap
ct,~ ~Moctp
~~ase~s, or (2) be ad
nditated a baniQnpt or iwot~eoy or $!e a n?luntae~ petitioa ia bankrupte~, or admit in wrians tb ;
iaa6v t6e~ beooroe ~ne, or (3) mate a~eoual wi~nment ~or t6e bene~t of erediton~ or (4) fiie a petition or a~wat
sabnr rear~aaiution or arraa~m~ent wit6 ecedi~or~ or to tate ad•taage of an~ imohmc7r law, or (i) fik an an~wer admitting t6e ms-
taial alle~ataos of a petitioo fited sgaiast t6e Mor~agor in any banlwptcr. roorganiutioo or insol~eocy pt+oceedin& or (6) aetiaa s6a11 be
ateu br tLe Mo~or for cbe parpo.e of effaeio~ anr of ~Le fore~an& or (7) aay order. jud~ent or darce s6a11 be eatertd upoo au
a plicadon of a cr~ditor ~ Mortga~or b~ a oourt of aompeteat 'nrisdlction appravins a peotion seekinY sppaabnent of a reeei~er or trwta
! ns
dl or a wbstm6d put of t6e Mort~agioe's aweb and ~ncb order. jnd~ent or dacree ~all aontinae maayed aod in eHea for an~ period of ~
tbiety (30) oomawa~e da~ tLe Mortgagee ma~ dcclare tAe note 6ereb~ secured forthrritb dae aod pa~abk. wbereupon tLe prinap~l of aod
the intcrat saraed on t6e note and a!1 aber iwm hereby secured shall beoome tort6witb due aad paTable as if all of tbe uid suuss of mooep
were ori~nall stipulated ~o be p~id oa ~ucL da~; aad t6ereupon tbe Mortga~ee witbout notice or danand may proiecote a suit u Taw aad/or
ia equitT a~ i~ atl mooia ~aenred hereb~ 8ad m:tnrea ptiae to i~ lmtituooo.
1S. T6at the Mort~a~ce or any penoa aut6oeised br tbe Mort~ee ~LaI! Lan the ri~ht eo enter upon and impect t6e moitp~a!
pmnisa at all res~ooable times.
16. Tbat an~ sum or sums w6ieh may be loaned or ad~aaad b~ t6e MortQa~ee to tbe Morteagor at aay ame nitLin tea (~10) feus
lrom tbe d~te of tsis indaunn. oo~etha wit6 interat tbereo~ at the rate a~reed upon at tbe dme of axb lo~n or ad~ano~ s6a11 be equsli~ a-
ear+cd with and 6ars tbe wme prjorit~ ar tbe ori~insl indebtednea ~ad be ~ubjat to aU tLe tcrr~ and p~o~isiom of t~ awc~e: pm~ided.
d~etPrioa'~
~ orisinall
~r~ed 6er~ at an~ tiine shall not aoeeed aa amonnt eqna! to one hundred ;nd 8ft~ per emt (IS096) of ;
17. T6a~ if required bp tbe taid Martp~or wilt pa~ mto t4e Moct~eq an tbe firu dq of acb aod eoery oon~ecud~e
roo~tb, a waseqnal tn onttwelftL
~~annoal amount oeaa~aq to par dl.aus ~ad a~wmenb apiau t6e ~aid awrt6~8~ P~~ ~ald
mouthy sam to be eramaeed solel~ b~ Mo~ aod nkalaad t~ 6e an amam~ na les tban t6e amount of aza a~ca.cd agaimt wd more-
~agrd Praai~a for the prr~ioa ~ear. aad fnrt6er sequired b~ Mortga~ee to pa~ all insnrana premiuaa in maoner and foirm a~ p:o~ida!
6ereia for tbt pqmeat of~ aia and a~e~meob.
iR T6at !n t6e r~eot t4 lo~a whkr t~moe~~sp i~ to ~eeure 4 aoade toe ebe a~ tiaaadn,~ eit6a tbs ooo~auedoe
ot as~? bull~finp or t6t aoouru~tton o~ imprdr~maM ~ad/ar ~tlaw ~o d~ln~ buqdiop~ t~tp i~rp
dstd bp cbe I~e~, .
~ra~lr qrea to depo~it~ wteti tb~ Mort~ or !b dp~ a~d sseot Ra aionnt o[ moaap pual es tw ~in~oee betwem tbe net ;
of tbt baa ~nd t6a ~otal mouo~ ~ d~camined b7 t6~7+torW~es~ nqofnd oo inllp oompM~t ~atd eoo~tsuedos in ~ooordaaee wit6 r6e plaat `
aod tped~ Mreee~arR ~ wbmittsd bp tM )~atja~oe aod rond b~ tb~ Noetppe. 8aid ~mo~u~t of mone~r r6a11 be ptaced b~ e!e ~
1SaQt~ee [n a"Lwa~ [n PtoaN A~oootmt" W tbt n~me af t~t a~a~or~ sod tbt taa~e ~6aU M med b~ the I~ort~ce to pap tbe caw,
ebar~a ~nd ~peo~a incnrrsd in ooonecelon whb atd ooo~ruedon pri~ eo C4b~ot t6ia_b~a. It L fnrtbsr simd tb~t ia du e?eot
s~id eon~truceion i~ not fn11y oompkted o0 ot b~fon tbe due ~tued in ebe Loao or tn t~s e~ent thu tLe work aa
nid ooo~troctiaa ~6a11 cene before folla~~eomplettan ~od ~aL awtioo ~6d1 oootinne for a period~0) da~^~. or-if ~nb~taadal ooodnww
p~o~ ~Aa11 oot be mads in weL truet1oo. tLea ~od in aay ~ueh e~eat t6e said s~et~ P*~P~1 and iacerat. meatioaed in atd
D~~7 ~~od sIl moota ~eeured 6ereby shsll beoome-dw ~nd pyabk fo~~rieb or etiereafeer a che optioo eE sa[d . sad tn
t6s s~mt of toe6 owadon of work u ~ ouoKroaios for a~ertod of tea (30) dar. or !f su~taatial oootiaooib pr~p~a~~ap aa be ~
made tn su¢i ooostroedoa, as aforaai~t4 ~!~Kt~mq a ie. opdm encsr ineo ~nd npa, tbe morti '
~troctioo in wrch manner as it deam ad~babk an iaterference fi~om t6e Pramisa and eamplete ~aid aon- ,
q tbe Mo~p~ee fnl! power aAd autboriey a mate wcr ~ inb aad u ~sid~' ebe wd ~ecebr d~t ~ R~t s
ot
nuranena r ma~ be ncoa~ar~ to aanpkee uid aoacnxcioo. and w P~ ~`a°"~ m mcer laeo .ue6 o.oocrraea or u-
fs ~dditioo w ~urw of ~~n~ monia nmai o~ b'
~ iMortp~~a in
oonneetioa
7 ~f oae~arf co oaaplete aId ooa~trnedon; snd an~ aad a!! monia a
wit6 ~acL oompletao of oomtruetion in e~cea of the ewaia la ~aid "I,oaw io Proees Aooo~nt" dull be added ~o tbe said priocipal debt ~nd
o~e~i~m~and. iuterart aE tLe rue prorided in uid proaniao~ aud s6dT be secured b~ e6i~ mo~a~e. aad ~6a1f be pqable b~ t~e Mor~ppe
B~?~~ ( PACE 39
4
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