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S. TLat ia tee evcuc of a suit bein~ iastit~ted w foralae this monQsQe. c6e Mort~ag:Y ~hall be cntitled w appiy at aoy time dudo~
such foralosure ~uit to t~e cou~t having jurisdictioa t6ereqf tor tAe appoinuaeat of a raeiva of all aod ~in~ular the monQa~cd propeny. and
of all reats, iacoma~ profia. issua and reveaua t6ereof, from ~cAaaoevc~ wurce derired; and the~eupou u n bercby e:p~asly coveaanted
aad s~recd t6at the coun shall fonhwit6 appoi~t suc6 ~eceive~ wit6 the usuai pov~en and dutia o~ raeiven. in tike cua; aad uid ap-
pointmeot shall be made by the coun u a matte~ of scricc ri~ht to t6e Mortga~ee~ and without refereace to tse adequuy o~ in~dequaey of the
value of che propertr 6e~eby morc~aged~ or co che wlvencr o~ inwlvcacy of ehe Mongagor or ~nr otAe~ party defendant to suc6 ~uit. Tbe
Mort~a~or 6ereby specifically vraiva the rigbt to object to the appoiatment of a ~aeirer as aforesaid and hercby e:pressly ooaseats t6at wcb
appoiatme~t shall be made as aa sdmitted equicy aad as a muter of absolute ~ght to the Moctga~ee and that t6e ~ame may be done withow
notice to the Mort~agor. .
6. T6at if any proeeediogs s6ould be insdtuted against the pmperty covered by this ~uortQa~e upon anr ot6e~ Gen or claim whaser
~uperior or juaio~ to the licn of thi~ mortgage, c6e Morcgagce may at ia optioa imraediatelp upoa institutioa of suc6 suit or duriag t6e pend-
eacy tliereof declare t6is mo~tgage and ths indebtcdaas ~ecured eereb~ due aad payable fort6Kit6 and may at ia opaoo proceed to fo~cclo~e
this moct~age.
i. To pay all and siagula~ tLe cost~ fces~ c6a~ga and upensa of eve~y tiod. iocludiag t6e oost of aa abstract of title to said land~
fouad to be convenient or ezptdieat in connation with.aay ~uit for t6e foreclaaure ot this mo~t~age~ and also iacludin~, wha6er tAe Mort~ee
is obli~ated to pay same or not, reawoable attoraey's fces incurred or e:peaded at anY time by the Mortgagce becawe of the failure of ~e
Mortgagor to perform. canply wit6 aod abide by all or any of t6e covenanb, conditiau and stipulations of said promiawry notq or this
mortgage. in the foralosure of this aangage and ia colicctiag the smouat secund 6eccby with o~ wit6out legal proaedinp, aod to reim-
bune the Mortgagee for everp payment made or incu~red for aay such ~urpose v?it6 inte~at fc~n dste of eveq such payment, at t6e rate o!
ei;ht per cenc (E96) per annwn; sucb paymcuts and obligadow, wit6 interat thereoo as aforaaid~ .sDall be saund br tbe 6en hereof.
i. To kap t6e baildin~ or buildiagi now o~ heresfter on said land imured agaimt la~ or dunage by esteadcd rn~ersge and
ot6er perils~ iacluding war risk imunnce if available. in a!~ uut iaa thaa t6eir full imurcble value at ihe cast and e:peme of the Mort-
gagor in a canpaay or compania appmved by the Mortgagee, toe poiie~ or policia to be ~eld by t6e Mortgagee, and soc6 policy or policin of
iasurance s6a11 have af~:ed thercto a Standard New 1'ork Mortgagee Clause, makiag all lo» or losxs uader such poliey or policies payable to
the Mortgagee u its interest may appear~ aad m deliver uid policr or policia to the Mongagee when issued witA t6e recnpb for the pay
ment of the prcmium t6erefor; aad in the event any swn of money bccana payable under suc6 policy or policies. tbe Mortgagee ahall ha~e
the optioa to receive and apply tbe same on aooount of the indebtedneat secured hereby or to pertnit t6e Mortgagor to raeive and uae iy or an7
part thereof~ for other purposes~ Kitlwut thercby ~saiviag or impairiag aay equity. lien or right under or by virtue of t6is motigage; and
t6e Mongagce if it deean necessacy may ptace and pay for auch insucance~ or tuy part thereof~ ~rithout losiog. waiving or affeetiag Mort-
gagee's optioa to forecbse for bnach of thia oovenant, or any '~art tbereof~ or aay rig6t oc opaon under this mortgage, aad svery such pay-
ment shall bea~ interat from date t6ereof until paid at t6e rate of eigAt per ceat (i96) per annwn. and all ~uch pay~menes wit6 iotercR a:
aforesaid shall be secured by the lim hereof. In t6e eveat any laes or damage i~ suffered Mortgagor s6a11 notify Mortgagee of sucA 1on or
damage acithin forty-eig6t (if) bours after the happeniag thcrcof; the failu~e to give such notice s6a11 rnmtiwte a default and the MortQa-
gce ahall 6ave t6e rig6n 6erein given for all defaults. '
9. To permi~ co:nmit o~ suffer oo waste and to maintain the improvemenb at all tima in a state of good repair aad ooodition; and
to do or permit to be done to said premisea aot6ing t6at will alter or c6ange tbe use and character of said property or ia aoy way unpair or
weakm tLe aecuritq of said mortgage. Ia cue of t6e refusal. neglect or iaability of the Mortgagor to rcpair and maintain eaid property, tLe
Mortgagee may. at its opfiot~ malce such repairs or cause t6e same to be made and tdvante monia ia tLat be6alf ~hich sums shall be xtured
by t6e lirn hereof and bear interat at t6e rate of ag6t per cent (E~Xr1 pcr annum.
10. To deliver the ~Mtract or abstracts of title oo~ering t6e mortgaged pmperty to Mortgagee or its designated agcnr, ..6ich shall at
alt tima. duriag the life of t6is mongage, ruaain io t6e pos+essioa of the Mortgagee and in eveot of the foralosurc of this mongage or ot6er
transfer of title. all rig6t, title and interat of the Mortgsgoc in and to any such abttract or aMtracts of title shall pass to the purchaser or
~antce.
11. T6at no waiver of any rnveaant 6erein or in tLe obliguion secured derebY s6a11 at aey time Lercafter be 6eld to be a ~saiver ol
any of t6e ot6er terms hereof or of the note secuced herebp.
12. T4at in order to ucderate the maturiq of the indcbtednes~ 6eteby secured becaase of tbe failure of tLe Mortgagor to Pay any tu
aasesammt. liability~ obligation or encumbraace upon said pmperty as 6eran pmvidcd, it s6a11 aot be neceassry nor requi~ite t6st the Mortaa~ee
shall first pay the ume.
13. That if tLe Mortgagor shall fail~ neglat or nfwe for a period of tWrty (30) days fully and promptly to pay the amouats ce-
quired to be paid by tLe note heteby secured or the intcrat thereia specified or an~ of t6e su~ of inoney 6etan referred to or 6ereb~ rt-
cured. or ot6e~ise duly. fuUy and pranptly to perform. eiecutq compl~ witL and abide by eac6. e~ery or any of the coveaaats., aonditiow
or stipulationa of this mortQage. the promisaory aote hereby ~ecured and/or tbe oonstnxtioa loan agreemrnt. if any. theo. aad in at~er or in
any of suc6 ecrnq, without notice or danand~ the aaid aggregate swn mrndooed in said promissory noce, IcYa previom paymeocs. if aoy. and
aay aad all surtu mrntioned herein or saured hereb~ s6a11 become due and payable fortLwith or thereaker at t6e oonvnuing oppon of tbe
Mortgaget as fully and oanpletely as if said aggregace suros were originall~ sdpulated to be p~d at such time. iOrtWOR in said prwnissor~
note or herein to tLe toatrary notwithatandiog, and t6e Mortgagee s6a11 be entitled thereupon or thereafter witbout notice or demaad to in-
stitute wit at la~c or in equity to enforce the rights of t6e Mortgagte 6ereunder or under sa~d pmmissory aota In the evmt of aor default
or breac6 on the part of tLe Mortgagor 6ere~wder or under said promis~orp uote, the Mortgagee s6a11 ha~e t6e continuiag option w mforte
paYcneat of all surn~ secured 6ereby by aetion at law or by suit ioeq nitr to foreclose t6is mortgag~, either or bot6. ooncurrentlr or otAerwise.
and oae action or suit shall not abate or be a bar to or waiver of t6e Mortgaga's right to institute or mainain t6e ot6er. pro~ided said Mort-
gagee shall bave only ons payment aad satisfaetion of said indebtedne~s.
14. T6at ia the event t6at Morcga~or s6a11 (1) cooaent w tbe appointmeat of a recdver~ trustee or liquidator of all or a ~ubtsntial
put of MortQa~ot's a~eb. or (2) be ad~udicated a bankropt or imolvrnt~ or file a~oluntar~ petitioo in bankruptey~ or sdmit in writing ib
inabiliq oo paT id debn a~ t6e~ beea~ne due, or (3) make ~ general usignment for tLe bene~it of crcdiwrs~ or (4) ~le a pcdtion or amwa
seekin~ reoraanisation or arrangemeat wit6 crcditon. or to take advantage of aay imolveocp law. or (S) file an amwer admittiag tbe ma-
teritl allegatioos of a petition filed agaiaat the Mortgagor in any bantruptcy~ reorganiution or insol~cocy proceedin& or (6) sction shall be
taken br tLe Mortgsgor for the purpose of efftcting any of t6e foregoin& or (7) any order~ jud~nent or decree s6a11 be entered upon an
applicstion of a creditor or Mortga~or by a rnurt of oanpeteat jurisdiction approving a petitioa seeking appoiatmrnt of a raeiver or trustee
of all or a substaotial part of the Mortgagoe's a»ets and such order. judg~nent or daree shall rnnrioue unstayed aod in effect for u?~ period of
tLirtr (30) oanecutire dayt, the Mortgagee may dcelare the notc hercbr secored fort6witL due and payablq whercupoa t6e principal of aod
tLe interat saraed oo t6e note aad all aher s~~mn bercby aecured s6a11 bcoome forthwit6 due and payable a~ if all of tLe uid ~ums of mooe~
were ori~nally stipulated to be paid on soch day; and thercupon tLs Mort~aQee witbout notice or demand ma~ praecute a suit at law and/or
in equits as if all maiie~ ~ecured hereby 6ad matured prior to ia inrtttution. _
1S. ZUat t6e Mortgaree or aoy penon avt6oriud b~ tLe Mortgaaee ihall ha~e t6e ri~6t to mter upoa and i~pect the mort~ed
premisa at all nasooable tima. ~
16. 'T6at anr sum or sum~ w6ic6 may be loaoed or advaueed b~ t6e MortQaQee to t6e Mort~agor at anp ame wit6in ten (10) yesn
fran t6e date of tbis indenture, toYet6er witb iaterat tLereon u t6e rate a~reed upon at tLe time of wcL ban or ad~ance. shall be equall~ se-
curcd with and 6a~~6e ~ame prionty ~s the oriQinal indebtednas ~ad be subject to all the tertm aad pro~i~ioos of t6is mort~a;e; pm~ided,
c6at tbe agarcaate ar~dunt of priacipal oumanding u an~ time s6a11 not e~ceed an amount equal to oas hundred and ~ift~ per eeat (15096) of
tbe prinupai amonnt ori~inally ~ecared 6erebp.
17. T6at, if required b~ Mortga~ee, the aid Mort~or will pa~ aato the Mort~a~ee. on the fint dap of cuh aod e~ery ooosecuti~e
monch, a sum equal to ooe-cwelfc6 of t6e annuat amount ncewaq oo par dl tua and a~e~meab aQainst t6e u;d mortgaged Premisa, ~aid
monthly sum to be aamated aolely by Mortgagee and calculated to be an amount na la~ th~n tLe amouat of taza swascd againu aid mort-
gsged premisa for the previous fear~ aad if furt6er required bp Mortgagee to par ~11 iasurance praaiums io maaner and form as pro~ided
herein for the psymwt of. taus and aaseaments.
ls. Tbat in tLe e~mt c6e loan w6icb cLi~ mort~ u Qi~ea w ucure is made for t6e purpae of fiaancing atDer the coostruetion
of neM buildin~s or tLe eonstruction of Improrements and/or addidoa~ to ezistin~ buildings, tbe Mort~a~r. if reqwred br t6e Mortga~a.
e:pra~ly a~rees to depo~iE wit6 the MortaaQee or ia dai~ated agent an amonnt of mone~ equal oo tbe difftrenee between tbe nec praeed~
of t6e loan and the total amount~ a~ daertnined b~ the Mort~ee~ reqwred eo fall~ oomplete ~ald ooostn~edon (n aooordance wit6 e6e plaw
and speeificatioos 6eretofore ~ubmitted b~ t6e Mort~a~or and a~ppro~ed br tbe M~tp~ee. S~id amount of mooe~ ~hall be pl~ccd b~ tLe
Mort~a~ee in a"I.oaa~ in ProceM Aooount" in the nsme of the MortQa~or~ and t6e wae ~hsll M wed M tbe Mort~asce to par the eat~
c6srQes and upen~a Incurred io ooonadon with uid ooo~tr~ prior ~o di~burdns of tLIs loaa. Ic i~ furt6er asresd tLu in t6e e~ent
•aid coastruc6on is not fo11r oomPleted on or beforo tbe dste ~ated in t6e Co~tn~etioa Loan A~rcement or in tbe e~ent t6at t6e work o0
said oonur~etion ahall uase before full oaa~letion snd ~~c6 ca~atioa s6~11 oontinue for a period of tea (10) da~s, or-if snMtandal oontia~w~»
proQras s6a11 not be made ia ~ueL constraa~on, then aad in aa~ sue6 t~ent t6e said aagregate ~um, principal snd interat~ mentioned in said
pramieory note~ aad all monia ~ecured hereb~. s6a11 beoome due aad payable forth~+it6 or thereafter. at the option of said Mortgagee; and in
tbe eveot of socb casation of work upan said ooo~tnxtion for a period of ten (10) ds~s„ or if ~ubstantial oootinuous progres ~6a11 not be
made in s~ construction, as aforeuid. the Mort~aQee ma~ at its opcian enter into aod upon the mortgaged premisa and eomplete said coo- ;
Kn~ction in wcb maana as it deans ad~isable witLout ~ar iamfereace tran tbe Mortsa~or; t6e said MortQa~or berebr ~i~ins and ~ran8e~
to t6e Mongagee full power aad autboritr to mate sae6 mtrt ioto and upon said mortgs~ed premises~ w enter into suc6 coatracts or ar-
rangcmena a~ may be oecasarT to oomplete •aid ooo~r~ctioa and eo ~pend aa~ rnonia r«nainiog in said "I.oans in Proca~ Aoooura" aad
in addirion aay ~um~ of n:oner oecasary to canplete said oonstnxtiion; and aoT and all monia ~pcoded by the Mortgagee in conneetiou
wit6 suc6 canplet;on of oonstruction in euas of t6e monia in aaid `Zwo~ in Proces Aooount" ~hal) be added ~ tbe said principal debt and
•hall draw interat at t6e rate prorided in said promiswry note.~t~ aj~ be secured br t6i~ mort~a~e~ and ahall be payable b~ tht Mort~a~or ~
~ on Qemand. / ~ ~r r
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