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S. 'Pbu in tLe eveoc of a suit beia~ ia~tituted to focalae c6is moa~a~e, ~~e More~ssce .Ddl be eac?~~ed co applr u any woe dudo~
suc6 forecloaure suit to t6e cou~t haviag jurisdiction thsreqf for tht appoiatmeat of a receire~ of ail sad tia~ulu the mort~:`ed propetty. aad
of aU reat~, inoo~nesr profiq~ issua and rercnua c6ercof. trom Rhaqoevu aurcs derived; aad thaeupon u is he~eby e:prasly coveaantcd
aad aQrced that tbe court sLall fon4Nith appoint ~uc6 receive~ wit6 the wual powen a~d duria of rcceivers. in like cucs; and aid ap-
pointmeot shait be made by the court as s mattcr of strict risbt to tAe Mort~a~ee~ sad witLout nEercace to We adequacy or ioadequacy of t6e
value of tAe propertp 6ereby iuoct~aged, or to the sol~encr o~ ituolrenc~r of c6e Mongagur ot an~ ot6er party defendaat to such suit. '11~e
Mort~a~or 6ereD~ specifieally waiva tbe rig6t to object to tbe appoiatmeat of a raeire~ as afore~aid aad 6er~by c:pressly coaacnd tbst suc6
appuiaane~t shal be msde as an admiae~l equicy aad as a matte~ of abwluce ri~ht to che Monga~a and chat t6e same may l•e dooe witbour
notice to tbe hion~a~o~.
6. T6at if say proceedln~s sbould be iastituted a~aiou thc ptopeny ooveced by t6is mortgage upon aay a6e~ liea or claim wbether
•uperior or juaior to t6e lien of t1~is mort~a~ the Mott~a~a may ~t ib option immcdiately upon iauitution of suc6 suit or duaing t6e pend-
enc~ t6e~eof dalue this mort~aQe snd t~e ~ndebcedaa~ secured bereb~ due aad payable fortbwith aed may at ia optioa proceed to foceeloa
c6is mort~age.
7. To pay all aad siagular t6e oost~ fces, e6arget aad e:peasa of erery kiad. includiag t6e cast of an abstnct of title to said laads
fouad to be cooreaieat or e:pedieat ia coaaecdoa with.aay suit for tbe forcclosure of t6is mo~ge~ aad also includia~, whet6e~ t~e MonQagce
is obli~ated to pay wne or aoy reawnable attomey's fea iacuned o~ expended at any time by tbe Mortga~ee because of t2ie failure of the
Mo~sgo~ tope rform, cnmply witb and abide by all or any of t6e oovcaaaa, coadidons wd stipulaaaa of said promiaory rwte, or t6is
mortga~e. in tLe forccbsure of t6is mon~age and ia collectiag the unount ucured 6erebr witb or wit6out lc~al procadiag~, aod to reim-
burse tbe Mortgagee fo~ every psymeat made or iacur~ed for aay such ~urpoae ~it6 iaterat fran dste of eveq suc6 payment at t6e rate of
eis6t pe~ cent (i96) pe~ anawa; socL papmenes and obligatiaa, with interat t6erton as aforaaid, ~6a11 be seeured b~ the tim Dereof.
To kap t6e butldin~ or buildiagt now or 6ereaftcr on said laad insured s~ainst loas or damsge br firq e:teaded co~enge wd
other perib, iacludit~ war risk iwuranee if available. io a~um aot lesa c6an their fuil iosunbte value ac the rnu ~d exprnae of the Mort-
gagor la a corapany or oompaaia approfed by tDe Mortgagce~ tbe polie~ or policies to be held by t6e Moctgagce~ and suc6 policy or policia of
iasurance shall have affi:cd theceto a Standard New York Mortgagee Clause. makiog all bss or loua under suc6 policy or polida parable to
t6e Mortgagee u ib interat map appta~~ aod ~o dctive~ uid poiicy or policia to the Mongsgee w6ea issued ~ith the ranpts for t6e pay-
mcat of t6e pnmium t6erefor; and ia the eveat aay sum of money becoma payable undcr such policy or policies~ the Mongagce shall 6ave
t6e optiou to meive and apply the same on aooouat of t6e iodebttdna~ secured hereby or to permit the Mortgagor to receive aod ux iti or any
part theaof. for otber purpases, ~sitLout thereby vraiving or iw~airiag anr equity, lirn or rig6t uader or by virtue of t6iY mortgage; and
t6e Mortgagte if it dcems ncceuary may plaa and pay fot such ~muraate~ or a~~y part t6e~eof~ ~rit6out laiag~ waiving or affc¢tiag Moet-
Qagee's option to foreeiose for bnach of tbia oovenany or aay 'part tbcreof~ or any ng6t or option undc~ tLis awrtgage, aad e~ery auc6 pa~-
mmt shall bear iatenst ftom date thereof uotil paid at tLe rate of eig6t ptr cent per anuiuq and all suc6 psytocnp wit6 intcrpt ss
aforaaid s6a11 be secured by the lirn 6ercof. Io the evmt u?y Was or damsge is suffered Mortgagor ~6al1 notify Mortg;gee of suc6 loa oc
damage xithin fort~-eight t4t) boucs after tbe happeoiag thereof; tLe tailu~e to give such ootice shaN constitute a default and tbe Mort~a-
gee shall 6ave tLe rig6ts herein given for all defauits. •
9. To pe~mit~ ooaunit or wffcr no waste and to maintain tLe improremwq at all tima in a state of good repair aad coadieion; aad
to do orpe rmit to be done to said pr~ iwt6ing t~at will slter or cLaage t6e ~ne and c6~racter of ~aid property or in aay war impair or
weatm t6e securitr of said mortgsge. Iu cax of the refuul~ neglect or iasbiGt~ of thc Mortgsgor to repai~ aod maiatain uid propeRy~ t6c
MortQagee may. a[ ia opEioq make sucb repain or cau~e t6e same ta be made aad adraace monia ia that bebalf R6icb sums s6a11 be secured
by the lim 6ercof and bear interat at the rue of dg6t pec ceat (t'Xo) per annuco.
10. To delirer the sbstrtct or abstracb of 6tle oo~ering thc mottgagcd pmperty to Mortgagee or its dqigpated agrnt. ..6icb s6a11 at
all times. during tLe life of t6is reortga~e, cemain i.~ t6e pouasioa of tLe Martgagee and ia event of t6e forecbsun of this mortgagc or other
trainfer of title. all rig6y dtk and interat of tbe Mortgaios ia iad to anp sue6 abstract or abun~cts of title sball pam to the purehaaer or
~ancee. ~
il. That oo waiver of any ooveaant 6ercin or in the obli~ation xcured 6ereby s6a11 at aa~ time 6ereaftcr be 6eld to be a~saiver o1
an~ of the aLer terms liereof or of the aote secured 6ereb~
12. T6at in order to ~oce[erate the maturiq of the indebtedoas 6ereby secared becawe of tLe faulurc of tbe Mortgagor to pay any ta~c
aau~aent~ liability. obligation ot eacumbrance upop said pmpectp as 6ereia pm~ided, it shall not be deceasary nor rcqui~ite t6at the Mortg~ee
shall ~irst par t6e same.
13. That if t6e Mort~a~or s6a11 fail. neglect or refu~e for a period of tLirty (30) days fuliy aad prompdy to pay the amouab rc-
quiced co 6e paid br c6e ooce 6ereby .ecnred or tAe interpt tberein specifitd or anr ot t6e aums of rooney 6erein referred to or 6e~eb~ ~e-
cared. or ot~erwise dul~. fully aad pranQcly eo perform. aceeute. oompl with and abide by eaeL. awery o~ u?y of the eoreoanb. coaditioor
or ttipuladons oE t6is mottgage, tbe prom~ssorp note hereb~ ~ecured aa~or the oon~tnxti~ loan ageemeat, if any~ chco. and :n acher or in
aay of sucb erwb. witbout ootice or demand. the said aggeegate sum mentioned ia said promissoryr aote. las previo~n pa~rtnents, if aor, and
an~ and all sums mentioaed herein or secured 6ereb~ s6ap 6ecome due aad pa~ble fort~witL or thenakar at the oonunueng option of tbe
Mort~a~ce as fully and oomplddr as if said sggregue sums were orig'rnallp _sdp ulucd to tie pa;d at suc6 timq an~tLiog in said p~+omiseoq
aote or 6erein to tLe oontraqr uotwit6staadin~ and the Mortgagee s6a11 be rnBtlcd thereupon or thereaker without notice or demaad co ia-
atitute swt at law or iaeq wty to mforce tbe ri86ts of the Mortg:gee berseinder or under aaid prornissnry note. Ia the evrnt of ary ddault
or breae6 m the part of tLe Mortga~ur 6ereuoder or under said pranis~orp note, the Mongagee s6a11 6a~e the contianing optioa to enfotee
pa~mmt of dl sums saured 6ertbr b~ ~etiou at law or b~ suit ineq
wtp to foralae t6is mortgage~ tit6er or botb. concurrmtir or aLerwia~
aod ooe sction or nut sLal! not abate or be a bu to or wai~er of tbe Mortgaga'a rig6t to institute or maintain t6e othcr. pro~ided uid Mort-
, ~a~ee sLall 6a~e only one paymmt and sswfaetion of said indebtedopr.
14. ~ That in tbe evmt t6at Mort$agpr s6a11 (1) comeat to the appointment of a rettiver~ trwtee or tiquidator oE ali or a subuwdal
p~U ~
rt~ar~ a~ or (2j be ad udicated a bankrupt or imo~l~eny or Sle s~oluntar~ petitioa in bankcuptcf. or admit io writiog iu
ia t~ pay its debb as t6ey bernme ~ue, or (3) make a<menl assi~ment for tLe benefit of crediWrs~ or (4) file a petition or amwa
~~rsat~aniutioo or uraa~anmt witL ceeditor~ or to take ad~a~ag~t of anr imol~eoe~ law, or (3) file an answer adm;tting tbe ma-
b~~~~ a peatioo filed s~aimt tbe Morega~or in aay baokruptef. reorganiution or insohency proceeding. or (6) setioa s6a11 be
~ ga~or for the purpae of effadnQ an~ of t6e foregoio~ or (7) any order, jud~nent or daree s6a11 be encered upon an
applieation of a creditor or Mortgag~or bj a aourt of compettat jurisdiction spprorio~ a petieon seeking appoiaanent of a recei~er or trwtee
of all or a substantial art of the Mort
thirty (30) oomecutire d: t6e Moet~~~ma~declare the aote 6ereh~nucurod fort6with~,due ande unstared aad ia efieet fo~ aa~ period of
y~, gagee r y payablq whereupon tbe principal of and
tbe interat aarued on tbe note and all aher sums 6erebr aecured s6aU fxeane fortLwith due and paTable as if all of t6e said ~wm of mooer
wcre origioall~ stipulued to be ptid on such day; and tbeteupoo t6e Mortgagce without tatiee or demand maT pmsecutt a suit at laa aad/ot
in equits as if atl mooia sanred hereby b~! matured prior to ih jmtitution.
' IS. That t6e Moctg~gee or any penon autMrizsd by tfe Moregs~ea ~hall 6an the ~g6t eo enter upon and inspect tbe mart~aged
' pranisa at all tca~onable tima.
i 16. That sa~ smn or suao~s which may be loaned or advanced by the 1~iortgagee to tbe Mortgagor at any time within tea (10) yean
from the date of this indeature~ t~o~etba with interat tbereou u t6e rate sgrccd upan at the time of sucb ban or advance, sball be equsll se-
cnrtd witL and bare the same prlorit~ as t6e original indebtednas and be ~ubjea to all tbe tertns and provis;ons of this mortga~e; prn~ided.
t6at t6e a~e~ate amount of principal ouatanding u sny time s6a11 na eueed m amouat cqual to oae 6und~ed and fifty per ceat (15096) of
ehe prinapal aaoo+wt ori~tnaiy securcd hereby. -
mon l~a
~u lf ~
one~tw
~ftL ot
t~be
a~on~a?~a~ount pg~r wi11 par unro tbe Mortga~ce, on t6e fint dsy of euh and cvery oomecaa~e
tb. ~ eq eoewar~ to pay all tua and aswmeab againu t6e said mortgaged pranises~ ~aid
moot6ly swn to be atimated solely by Mort~a6ee and ulculued ta be aa amoune aot la~ than tLe amou~ of tt~ca asea~ed agaimt uid mort-
ga~ed premixa for tbe previow par, aad if fnct6er reqwred b~ Mortgagee to pa~ all insurance premiums in manner and form as pm~ided
6erein for t6e paymeut of, tazes and aa~aoneob.
If. T6at in t6e e~ent tLe ban wLic6 tbis mor~a~e it pvea to ~re i~ made for t6e pnrpae of fioanang dt6er c6e oonnructi~
of nev? bui[dina or tbe ooo~doo of Impcoremena and/or additions to easdn~ baildiag~, the Mortpjor, if teqwred b~ tbe Mortga~
acprq~ly a~rea to deporif wit6 t6e Mortq~~te or Ia desiQnated agent an amo~nt of money equal to the differeace betweeo tLe aet procetd~
of t6e baa and the total amount~ a~ dececmined br ~~~sK, Kqmred eo fall~ eompteee said aooaroction !u aaaordance wity tbe plaa~
and ~paificaaoas bereoofore sub~iaed by tbe Mortgyor aad a~pp rored b~ tbe Mort~ee. Said amonnt of mooe~ ~hall be pl~eed br eLe
biort~a~se in s"I.oaw tn Proeeu Aooonnt" ia t6e nane of tbe Morc~a~or~ and the same ~6a11 6e wed b~ cbe Mortga~ee ~u par cbe oo~
cLar~es ~nd e:prn~ ineurred tn aoonectioo wft6 wid oooaruci~ riar m dtibwain~ of tbis loan. It ii furtLer agreed t6a in tbe e~ent
•aid ooa~rucdon is oa fuly oaapleted o0 or bdore tbe date ~ in tbe C
o
o ~ t r~
o
a LwnA~r
eanrnt or io t6e r~ent thu c6e work on
uid ooostr~ s6a11 oease before full oan ledon and ~~ch eewtioo shatl aootinue for a period of cen (!O) da~, or•if subatanad oootiauo~s
Pro~rea a6a11 aot be made ia incb oonstn~on. c~m .nd in so~ ~ueb e.an cbe aid .~reg.te .urg pr~oeiPal and interat~ mmcioned in iatd
promirorr oote, and all monia ~cured 6ereb~~ shall btooine due and pa~able fort6~•ritb or tbertafter. at t6e option of said Mortgagee: and in
tbe ereot of suc6 aaation of work a wd ooortruction for s period of ten (10) da~ or if subaaadal mntinuow progres ~hall na be
msde in tueL coostrocdon, as aforaai~the Mortp`ee ma~ at ln optioo eater ioto and upou t6e moirtgaged premisa and comPlete uid aon-
rtructioo in ax6 maaner as it deems sdvisa6(e wit6out an~ interferaoce fran t6e Mort~ag~or; tbe eaid Mortgsg~r bereb~ gi~iag and gra~ns
eo t6e Mort~a~ee fall powu and sutlwriry ~u make socb wtry iaco and npon Nid mortQased premi~a„ to enter into suc6 wotraw or ar-
na~aneaa n may be naasaq tu oompkte said oonsmxtiao. and to ezpcnd an~ monia remainiug in aaid "Loans in Procw Aoo~ount" aad
io additi~ any sums of nwner naasar~ ca oo~npleee ~aid toa~truction; snd an~ and all moo;a e~cpcaded b~ tLe Mortgagee in conaeetion
wit6 s~c6 eompletian of oonstnxtion io ex~ of tbe monia in said "I.oam in Peoces Aaaunt" s6a11 be added to t6e uid priocipal debt and
~hall draw iaterat at the rate pro~ided in uid praaiaory , n u+curcd by chi~ roortgaQe~ and ~ha11 be paysble br t6e Mortp~or
a.m~. - ~ ~~`PACE1649 ~
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