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S. TLat ia t6e evenc of a suit bciu~ inuituted to foralae this mortQa~e, c6e Mort~ascs shall be cnGtlcd co applr sc aoy cime dudo~
such foretlosure ~uit to the rnutt 6aviag ~urisdiction thucqf tor t6e appoin[meat of a raeive~ of all and sin la~ the ~aon~sted Pmpercy, acd
of aU rcaq. incoaaa, protip, Issua and rtrenuq t6ereof, f~an Rhaqoever wutce derived; and tb!ceupoa~t i~ 4ereby e:prasly corenaoted
and agrecd t6at the coun ahall tocthrit6 appoiat suc6 rcceive~ witA the usual po~sea sad dutia o! receiven. in like eua; aad said ap-
pointmeat s6s11 be made by the court as a maae~ af strict ri~6t to t6e Mortgage~ and witLout refereoce to the adequaoy or ioadcquacp of t6e
value of the pcope~ty heceby mo~t~agcd, or to the wlventy or i~solveacy of the Mortgagor ot anp other partr defendant to such suit. The
MonQa~o~ hucb~r specifically waiva the rigbt to object to t6e appoiawent oE ~ raeiver n aforeuid and hercby e:prealy consrnts t~at wcb
appointment shall be made u an admincd equity and as a mstte~ of abwlutc right to tAe Mottga~a and that the iame may be dooe wit6out
notice to tse Mortgago~.
6. 'Ibat if aay proeeedinga sbould be instituted agaiast t6e propeny oo.e~ed by ehis morcgage upon any ot6e~ Gc~ o~ ciaim whether
.upaior or juaior to the lien of tlus mongag~ the Mortgsgee may at in optioa immedistely upon iwticutioo of such fuit os duriog t6e pead-
ency the~eof dalue this murtgage and the indebtednas setu~ed 4eceby due and paysble fort~v~ith and may at ib optioa proceed to !o[aclae
this mon~agt.
7. To pay all and sinRular t6e cost~ fees. c6arga and e:pea:es of eveq iriad. iacluding t6e oat of an abstr:ct of title to uid lands
found to be convenient or espedieat in conaection witti.aay suit foe t6e foralo~ute of thi~ mo[t~age. and al~o includin~. w6ether the Mortgagee
ie obligatcd to pap sanoe o~ not~ ~eawaable attomey's fea iocurred or expeaded at any time by t6e MortgaQts because of t6e failurc of t6e
Mortgagoc to perform. eanply witb aad abide by all or aay of t6e covcasna, conditiom and uipulatiau of uid promiawry aote, or this
mortgage. in tbe foreclosure of this awrtgage and ia rnllecting the amouat securcd herebr with o~ witbout leQal proceediag~, aod to ceim.
bune tde 'nlortgagec for every pa~ment madc or incu~red for any ~uc6 ~urpoae with iaterat frora d:te of erery such payment st tbe nte of
eig6t per cent (E%) per anaum; such paymena and obligatiotv, witii ~oterat t6ercm as aforaaid, shall be ~aured by tbe 6ea hereof.
To kcep tbe bailding or building~ tww or 6ereafter oa said land iwured s~aiwt loss o~ damage b~ fice~ ertmdcd oo~ecs~e and
ot6er perils, ineluding war risk insuranee if available. in a pum -not laa t6an t6eit ful{ insurable vatue at tLe coat and e:peose of the Mori
gagor ia a cwnpany or compaaia approved by t6e Mortgagee, the polic~ or policia to be beld by ~6e Mo and suc6 poliey or policia of
insurance s6a11 have affixcd thereco a Standard New York Mortgagee Ciause~ makiog all loas or lossa under s policy o~ policia payable to
che Mortgagee u its incerat may appear, and to deliver said policy or policia to the Mortgagee w6en iswed witb ebe rettipb for t6e pa'-
ment of tbe premium t6erefor; and ia the event any sum of moaey becoma payable uader such policy or policia~ t6e Mortgagte aLall have
c6e optioo to receive and apply the same oa acoount of the indebtedna~ secu~ed 6ereby or to permit t6e Mortgagor to receive aad use iy or aay
part thenrof, for other purpases, Kitjout thereby waiving or im~aairiag aqp tquiry, tien or rig6t under or by vittue of this mortgage; and
the Mortgagee if it deems nctessaty may place and pay fo~ such msucaoce. or aay part thercof. wit6out lasing. waiving or affccting Mort-
gagee's option to fo~eclose for breach of t6ie oovenaa~ or any part there~of. or any right or option uader tLis mortgsgq and e~rery suc6 p+~y-
ment sball bear interat from date t6ereof u~til paid at the nte of eight ptr ctat pcr annwq and all s~xh pay-~oents witL internt as
aforaaid ssall be secured by the lirn 6ereof. In the eveat aay lou or damage i~ suffercd Mortgagor ~6all aotify Mortgagee of ~uch ba or
da,rage Rithin fort~•-eight (+E) boun after the Aa~pening theroof; tbe failure to givt soch ootice shall couatitute a defauh snd t6t Mort~a-
gee shalt 6~ae t6e rights herein given fo~ all defau t~.
9. To permit~ commit or wffer no wute aad to maintain the impro~emwq at all tima in a state of Qood repair and aoodidon; and
to do orpe rtait to be doae [o said premius aot6iag t6at wnll alter or eLangc c6e we aad charaaer of uid pmperty or in any way impair or
.seakcn the aecurity of said mongage. In cax of t6e refuul. aeglect or inability of the Mortgagor M[epair aad maintain uid pmperty~ t6e
Mortgagce may, at ip opiioa, make such repain or cause the sune to be made and ad~ance monia in t6at behatf Rhic6 s~ems s6a11 be serurcd
b~• c6e lirn hereof and bear interat at t6e rate of dght pec cent (396) per annum.
I0. To deliver the aburact or abstncp of titie oo~eriag tLs mortgaged peoputy to Mortgagee or its ddignated agent~ ~s6ic6 s6a11 ac
all tiroes, during t6e life of this mortgage~ ~ionain in the posseuion of t6e Mortgagee and in e~cnt of c6e forcclosure of tLis mortgage nr ot6er
cramfe~ of title~ all right, title and interat of the Morcgagor in and to any ~ucb abstract or aburacb of title s6aq pa» to che purcbascr ;,r
gnntee.
11. T6at no waiver of any covenanc 6erda or in iLe obL'~sui.oa secured 6ereby shall at any time 6ereafcer be 6eld to be a~aiver of
any of the other terms hereof or of tAe note secured 6ersbp.
12. T6at in order to aaetente the ~naturity of the indebtednas 6ereby set~rcd becauu of t6e failure of t6e Mortgagor to pay any taz
auasmeoc, liability. oblig:tion or encumbrance upoo said property as 6ereia prorided, it shall not be necessary aor rcquiaite that tbe Mortgaeee
~hall fi~ pay the sam~.
13. T6at if tLe Mortgagor s6a11 fail~ neglect or refwe for a puiod of thiny (30) days fully and promptly to pay tbe anaounts re-
quired to be paid by t6e note hersb~ secured or t6e iaterdt thecria apecificd or aa~ of the swm of money btrein referred to or 6ereb~ ~
cured. or othtrwise duly, full~ aAd promptly to perfortn, ezecute, aomp~lr witL aod abide by eacb. every or sny of t6e oorenanb, aonditiom
or stipulations of t6is mortgag~ the promiswrp note herebr secured and/or the conatnxtion ioan agrtemeo~ if anr. theo, and ia atber or in
any of auc6 evrnts, witbouc notiee or demand, che said aggregace sum mentioned in said promiswq aote. laa prcvio~n payraenb. if an~~ and
aay and sll sums mentioned 6etan or secured hereb~ s6a11 become due and payable forthwith o~ tLereafter at tl?e oondnuiog opL00 of the
hiortgagce af fully and oompletely as if said aggrcgate sums wert origina!!p atipulated to be paid at suc6 time~ ipytbt0g in said
note or Lercin to the contraq notwithuandjn& and the Mortgagee a6a11 be eatitled thueupon or tLereaher witlaut aotice or demapnd~nry-
stitute suit at la~c or in equity to enforce t6e rig6u of t6e Mottgagee hereunder or under sa~d pranisaory nota In the evrnt of an~ dtfault
or brexb on the part of the Mortga~u
r 6~~~ereunder or under said promis~oq note, tbe Mortgagee shall La~e the oontiauing option to enforce
payment of all s~uns seeured 6ereb~ by
axtion at law o~ br suit in equiry to foreeiae this mortgage, eithcr or bot6, coacurrmtly or otherwise.
and one action o~ suit s6aU not abate or be = bu to or w~ver of tLe Mortgagee's rig6t to insdtute or maiatain the ot6er. pro~idcd said Mort-
gagee sball Lave only one p~ymeat and suisfacdon of said indebtednea.
14. That io tbe event tLat Mortga~or shsll (1) oonxnt to t6e appointmmt of a recaver~ mntee or liquidator of all or a subatantial
part of Mortgagols a~tets. or (2) be adjudicued a bankrupc or imol~my or fite a~otuutar~ petition in bankruptcy~ or :dm;t ia writing ib
insbility to pay Ib debb as tbe~ baome due. or (3) make a general assipmmt for the bentfit of creditors~ or Sle a petition or amwa
seeking reorgaoization or arrangemmt ss~th crcditon, or to take advaatage of any imolvencp law. or (S) file an answer admitting the ma-
terial allegationa of a petitioa filed agairut the Mortgagor in aay bankrupttp, reorganiution or insolveocy proceedin~ or (6) action s6a11 be
ta~en by tLe Mortgagor for t6e purpose of effecting aey of tht fore~oin~ or (7) anp order. jud~acnt or decree shall be entered upon an
applicanoo of a ueditor o~ Mortgagor 6y a rnurt of canpetent jurisdiction approviag a petitioa seelcing :ppointment of a reeeiver or tsustee
of aN or : subst:ntial part of the Mortgag~ors assets and suc6 order, judg~neot or decrte sLall oontinue uustayed and in effett for aa~ period of
t6irty (30) consecutive dap~, the Mortgagee may dalare the aote hereby secured fort6wit6 dut and pa~abk, A6ereupon the prinapaf of aod
the iaterat aarntd on t6e oote and all aher sums bereby aecured shsll bcooms fonLwith due and payable as if all of the said suum of moaer
were origiaally stipulatcd to be paid on such day; and thereupon tbe Mortgagee wit6out noace or demand may praaecute a suit at law aad/or
in equits as if alt monia ~ecnced hereby 6ad matured prior w its iwtitudon.
IS. 'I'hat the Mortgagee or aoq person aut6oriud b~ tbe Mortgaga ~6a11 6ace t6e right to rnter apoa and ;mpect tbe mort~sged
premisa at all reawnable amn.
16. Tbar any sum or sums v~hicL may be baned or advaaad by the Moctgagee to t6e Mortgagor at any time wit6in ten (10) pean
from the date of thia indrnture, toget6er witb interat thercon u tbe rate agreed upon at the titne of suc6 Ioan o~ advance~ s6alt be equall~ re-
cured witL and 6ave thc ume priority ss t6e origiaal iadebtednas and be subject to sll tLe terms and provisioro of this mortgage; pro~ided,
that the aggregate amouot of principal outstanding at any time shall not eueed an amouat equal to one 6undred and fifty per cent (1S0%) of
the principal amount originally secured 6erebs.
17. That, if required by Mortgagee~ tLe aaid Mortga~or will pay unto t6e Moctgagce, on the ~nt day of each and every comrcutire
montb, a wm equal to ono-melhh of tLe annual amount nece~ar~ to pa~ all tua and a~ea~mma agaitat the ssid mortgaged premisa, said
mon~6ly swn to be arimated eoldy by Mortgagee and catculated to be an amoune not las than tLe aawunt of tues a~eased agai~t sa;d mort-
gaged prernisa for the previow year, and if furt6er required by Mortgagce to par all insurance premiums in manner aad form as prorided
herein for the paymeni of tazes and a~nesmenb.
lE. That in the ercat t6e loan whie6 t~is mortga~e ~ p~m to secure is msde for the purpose of tinancing dt6er the ooo~tn~etion
of nevir buildings or the constructioa of unpro~emeaa and/or additions eo e~stin~ buitdings, tLe Mortqa~or. if rcquered by tbe Mortga~
expressly :grea to deposit with t6e Mortgagee or ib daignated agent an amount of moot~ equal on tLe difhreuce between tbe aa proeeeds
of t6e loao and t6e total amount~ as determined by the Mortgagee, reyuired to fullr oomplete said aamtr~ction in aaoordance with the plam
and speci6cations heraofore wbmiaed bf tLe Mortgagvr and appro~ed by the Mortgsgea Ssid amount of moae~ ~ball be placed by t6e
Mortgagee in a"Loans io Procesa Aocount" in t6e aune of t6e Mortgagor~ and t6e same s6a11 be wed by t6e Mortgagee ou pay the oosts,
chuga aad e:penses incurred ia connation wit6 ~aid oo~tructioo pnor to di~buraiag of t6is ioaa. It is furthcr agreed tbu io the r~ent
esid construcc;on is not fuU~ wmplaed on or before t6e due stattd In the Constn~etioa Loan Agreanrnt or in the evrnt t6at t6e wort o0
iaid oonunxtion s6all cease before full oompletion tnd suc6 cesation s6a11 aontinue !or a period of ten (10) daps~ or-if substanaal oontinuour
progras a6a11 not be m:de in suc6 construaioo, t6en and in any a~ e~ent tbe said sggregate sum, principal aod iaterat~ meotioned in said
prani~sory note, aad all monia saured 6taby~ s6a11 becane due aad payable forthwitL or t6ereafter. u tLe option of taid Moctgagee; and In
the r~ent of soc6 caaatioa of wotk u said comtruction for a period of tm (10) days~ or if sabaaatial oontiouo~» progres a6a11 not be
made in ~ucL oonstruction, u tfore:ai~the Mottgagee ma~ at ib optioo enter into and upoa the mortgaged premisa and rnmplete ~aid oon-
itructioo in sucb maaner as it deems adviaable witlwut ~ny interfereace fcan the Mortga~or; tLe said Mortgagor 6ereb~ gi~iag and arantia~
to c6e Mortgagee full poRer and autbority ro make suc6 mtrr into and upoa sa;d mortgsgcd pranisa, to enter into such contracts or ar-
rangemenn ss mar be necasar~ to aanptete said oonstnxtioo~ and to ezpend an~ monia remainiog jn aaid "I.oans ia Proceb Aooount" and
io addicioo an~ sums of montr naaaary to eomplete said comtrnction; and an~ and a11 awnits upwded by tLe Mortgagee in conneetiou
witL suc6 canplecion of construetion in e:ceu of t6e monia in said "Loans io Proces Aooount" shall be added oo tLe said prindpal debt and
shall draw interat at the rate provided in said pmmis~ory note. and shall be securcd b~ thi~ mortgsgq and absll be payable b~ tAe Mort~a~or
on Q~maaa. ~ry
800K ~ `V PAGE1195
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