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S. Tsat in the evcct of a tuit beius inxituted w foralae this mon~a~e, the Mo~a~:~e ~ball be eacitled to spplr at aay time dusins
•ucb forcclosure ~uit to t6e couct 6aving jurisdictiou thereqf for t6e appoiouneat of a raeiver of all aad sinQuta~ the mongssed pwpMy~ at~
ot all tenn. ioeoma, profib, iuua ~ad ~eveaua t6ereof, from Rhaaoever aura derived; and t6ereupon it ia 6e~eby e:prasly coveoauted
aad a~~ced t6at the coun s6a11 torth~~ith appoiat such receivec wit6 t6e u~uai po~rers and dutia oE raciven. ia like casa; and uid ap-
poiann~t ~hall be raade by t6e court as a maau of strict rig6t to tbe MortQagce. aad witbout refereace to the adequacy or Inadequaep of t?s
~alue of eLe propenr heccbr mort~age~o~ to the wivency or ~nsolvtacy of t6e Mongagor or any ot6er party dctendaat to such tuit. 'I'be
Mort~a~o~ 6erobx apeci~cslly waiva t e right to ~bject to tAe appoiatment of a receiver as afortuid and hercby e:pressly ooa3eats thu wcb
lppOlppOMt fbill b! tO~d! tl~D admined equity and as a ma[ter of +b~lute right to the Mortgs~ee and that thc same msy be done s~icbow
notice to t6e Mortaa~or.
T6at if w~ proeeediogs ~bould be iwtituted agaitut the pmperty oove~cd br t6is mortgage upoo any oche~ lirn or claim whetLer
~uperior or junior to tbe lien of thu mortgage, t6e Mongaga may st ia op!ioa immediately upon institutioo of ~uc6 suit or duriag the peod-
tne~ t6eroof dalsre this mortga~e and the iodebtcdnas secuced 6erebr due aad payable torthwith and may at ia option procced to foreelat
this mort~aga •
To pay all and uagulu t6e oosts, fca, c6arga and ezpeasa of every kind~ including the caa of aa abstract of Ntle to said land~
fouad to De coa~eaieot or ezpedient in connecdoo witl~.aay ~uit fo~ t6e forecloaun ot ebis mo~age. and abo includiag, w6ahe~ the MortgaQee
u obli~ated to pay ume or aot, reasoaable attoraey'~ fees incurrcd or e:pended at any time br t6e Mortgagee becawe of tLe failure of t6e
Mort~agor tope cform, canply wit6 and abide by all or any of the covenann. coaditiom and stipulatiaa of uid p~omirory note. ot tbia
mort~a~e~ in the forecloaurc of t6is mortgage aod in rnllating t6e amount secured berebr witA or without legal proceediagi, aod to teiffi-
bune the Mort~agee for evecp paymrnt made or iacurrcd for a~y •ucb ~urpoae witL interat from date of eveq such payma~t u t6e nte of
eit6t per teat (!96) per ~nnum; such paYmeata aad obl;gatioa+. with interat chereon as aforaaid, s6a11 be ~ecured b~ the Gen hereof.
To kap t6e boilding or buildiags now or heresfter on said laad insu~ed aQaiost tosa or dwa~e br ~re~ e:tended oo~erage aod
ot6er perils~ includins war rist iasurance if availablc. ia a pum ~not less than their full insur.:ble value at t6e cost and e=pmse of the Morh
gagor in a canpany or oompanies approved by t6e Mortgagee, tue policy or policia to be held by t6e Mortgagee, and such poliey or policia o~
iasurance shal[ 6ave affized thereto a Standard New Yort Mortgagee Clause, making all lo~s or tona under such poliep or potic~a parable ~o
the MoKgagee as ib interat may appear, aad to deliver said poliey or policia to t6e Mortgagee when iuued with the recapts for the pt~-
mtnt of t6e pmnium tbereEor; aad in the event any sum of money bccoma payable under such policp or policies, the Mortgagee s6~11 hsie
t6e option to mei~e aod apply t6e sa;ne oa aooount of tLe indebttdnat seeured hereby or to permit the Mortgagor to receive and use it~ or an7
put thereof~ for other purpase:, witiwut t6ereby ~saiving or im~airing an~ equity. lien or rig6t uader or by victue of this mortgage: and
tLe blottgagee if it deema neca»ry may place aad pay for such insurance, or auy part thercof, ~citbout :osiag, waiving or affating Mo~t-
~a~ee's option to f~recbx for breac6 of thii oovenant~ or aa~ '~art thereof~ or aay ng6t or option under this mortgage, and every suc6 pa~-
meat a6all bear interest from date thereof until paid at the rate of eight per ceat (S96) per annwn. tod all ~uc6 PayYnrna w~c6 iote~at a:
aforaaid shall be saured bp the lirn hercof. In t6e event anp lou or damage i~ suffered Mortgagor ~6at1 notify Mortgagee of sut6 laa or
damage wit6ia forty-eigAt (4E) boun after t~e 6appeniag thereof; the failure to give such notice shall rnnstitute a defauh and t6e Mort~a-
gee s6a11 6ave the rigLb 6erein given for all defaults. ~
9. To permit~ oommit or wffcr no ~a~te and to maintain t6e improvanents at all dma in a state of good repair and oooditiao; and
eo do orpe rmit to be done to ~aid pranisea not6iog tbat will alter or change t6e we ~d character of said property or in any wa~ unpair o[
weak'en the security of said mongaga Ia cax of t6e refuaal, neglect or inabilitr of the I?iortgagor to repa~r and maiotun said propectY. the
Mort~agee map. at ib opfion. make such repain or cause t6e aune to be made and advance monia in thst behalf ss6ich suma ahall be saured
by t6e lien 6ertof aud bear interat at the rate of ag6t per teat (356) pes annum.
10. To deliver the abstract or abstracb of title co~ering the mortgaged property to Mortqagee or its daignated agent~ ~vbicb ahall at
all times„ during tLe life of this mortgage, remain in the possasion of the Mortgagee and in cvent of the foreclosurc of this u?ortgage or ot6er
cramfer of titlq :11 rigbt. title and interest of c6e Mortgagor in and to an! auch abstract or abstruts of title a6a11 pass to the purchase~ ot
grantet.
ll. That oo vraive~ of any rnvenant 6erein or in the obliguion secured Aereby sball at any time 6ereafter be held to be a«aiver o!
any of tbe ot6tr terms 6ereof or of the note srcured 6erebp.
12. :bat iu order to ~celerate tLe maturity of t6e iadebtednea~ hereby secured bccause of the failure of the l~fongag~or to psy aar t~
a~ent~ liabiliq~ obligation or encumbrance upon uid property as 6erein provided. it shal! not be oeceuary nor requisite that t6t Mortgasee
shall fint pa~ t6e same.
13. That if tbe Mortgagor shall fail, neglect or refwe for a period of tbirty (30) days fully and pranptlp to pay t6e amounn ro-
quired to be paid by t6e note hereby secured or the ioterat t6eran spaified o~ anp of t6e ~ums of money 6ercia referred to or 6eceb~ ~
cuced, or otberwise dW~. fully and promptly to perform. eucute. comolr witb aod abide by eac6. every or any of the oovenanb. oooditioo~
or Wpulatioos oE tbis mortQaBe. t6e promisaorg note hereby secured and/or the caostruction losn agreemmt, if any. t6eo. and in dt6cr or in
any of sncb evmts, without notiee or demand~ the said aggregate sum meationed io said promissory noce. less previous paymeau~ if any. and
aar and a11 sums meotioaed 6e[an or saured hereby s6a11 become due and payable fort6wit6 or tLereaker at the ooounuing optioo of ttie
' Mott~ee ss fufl~ and oompletd~ as if taid a~regate sums vrete originalls stipulated to be paid ~t ~uc6 time. anyt6ing ia said promiwory
I aoce or 6ereio to che ooavaq notwichstandin& aad t6e Mortgagee ~h~ll be mtided t6ereupoa or thereafter witbout notice or demaad to io-
i stitate suit at law or ine~
nicl to enforce the rigbta of the Mortgagee hereunder or under aa~d promis~ory note. In the event of any defanh
f or breacb oo the puc of t6e Morc~or hereunder or uoder said praais~or~ note, the Mortgagee s6a11 La~e the oontinuing option to enforce
~ payment of all s~uas recured 6ereby b~ saioa at law o~ by suit ineq
~utr to foralae this mortgag~ eiiAcr or both, coocurreatly or ot6erwi~e.
and ooe aetioo or suit s6a11 aat abate or be a bu to or wai~er o4 the Mortgagee't right to institute or mtinain the ot6er. pro~ided uid Mort-
~ p~ee shdl 6s~e only ooe pa~ment and sawfsction of said indcbtednas.
~ 14. T6at in tLe eveat t6at Mort~agor shall (1) ooaseut W tbe appdntment of a recdver~ trustee or Gquidator of all or a~ub~tsndal
psrt o~ Mo~~ t~ee~. ut (Z) be ad'adicated : bantnipc or imul~ent, or Sle a~oluntat~ petici~ in baotcuptcy~ or admit in wddas Ib
inab3tiq b pq ib debq a~ the~ btoome ~~e. or (3j make a~eoenl up~mmt fos t6e bcncfit o~ creditocs, or ~le a petition or aoswa
reeidu~ :ation or urangement wit6 crediton~ or to tate advaotage of anr inwl~enc~ law~ or (S) fite ao anawer admitdn~ t6e ma-
terial ~Ue~ o~ a pedtioa filed aQainst t6c Mortgagor in aay bankruptep~ ceorganiution or inselveacy proceeding~ or (6) sction s4a11 be
taken e~ t6e Mort~a~or for t6e purpae of effatin~ anY of tbe foregoing~ or (7) anr order~ jud~nent or decree shall be entend upoo so
applieatian of a creditor or Mortas~or by a court of competent !'uti~diction apptorina a petition sccking appointment of a raei~er or tru~tee
of all or a ~nb~tanttal put of tLe Mortga~or's a~ed aod ~uch order. judgment or daree sLall ooaanue unsa~ed and in effea for an~ period o~f
thlrt~r (f0) oomteoti~e da~ the Mortgagee may declare che note hereby secured fortLwith dne and payable, wLereupoo tbe prineipal of and
t6e ~ aarued ouu the note aad all other sum~ hereby mured s6a11 beoome fort6wit6 due aad payable as tf all of t6e said ~um~ of mooef
wue ori~iadl ~tipnlsted to be paid on s~xh day; and tbeaupon t6e Mort~aga wit6out aotiee or demaad may proiecute a suit at law and/or
ia equitr a~ all mouia ~eeure~ hereb~ had mscured pcior oo hs In~ticutioo.
1S. T6at tLe Mortga~ee or anp penoa authorised by tLe Mortgaga shaU hare the rig6t to enter upon and inspect the mort~
premi~a at all reamable tima.
16. Tbat sny smn or sums w6kh may be loaaed or advanad by tbe Moetasgee oo ehe Mort~agor at any time withio ten (10) ytan
from t6e date of thi~ indeatnre. to~etber witb interat c6ereon u tLe rate a~rad up~ ~t the time of soeb ban or ad•u~ce, ~hall be eqwlt~ ~e-
cured with and ha~e the ~ame piiority ar t6e ori~inal indebtednas and be ~ubjea to all the terms snd provi~ions of t6is mort~a~e; per?~ided~
that the a~re~ate ~mount of prirxipal ountanding at anr dme ~hall not e~ead an amount equal to oae 6undred and fifty pcr cent (IS096) of
the ptindptl amouat ori~inall~ ~ecnred 6erebp. -
17. Tbat, If required br Mort~ tbe uid Mort~or will par unto tbe Mort~ on the fint day of cu6 and e~ery co~aud~e
~a wmeqnal to ooe-twelft6 of tbe anau~l auwuot necewr~ to par all tua aad s~a~mean aQni~ut ebe ~zid raort~aRed premi~a, add
monthl~ snm ~o be admated aley b~ Mo jee and cakulued to be ao ~mouac not la~ than tbe amount of caza asared ~t uId morti
ee
~a~1 Preml~et ior t6e pr~iow rear. and~ furtLes required by Mortgs~ee to pa~ tll iwurancc premiums ia maaaa and rm ~ pro~ided
henta ~or th~ pa~ment of, taza and awa~meab.
if. 13u in ebs e~ent tM loaa w6ic6 tW~ raortsa~e b thea to ~ecure b made for ~ ede pn o~ 8nwelna eitLer tbs ooo~en~ttoa
of oew buildtap or the eoomnedon of impro.emwa ~ad/or addldon~ to es~nnE buildinp, ths b~or~ if required b~ cbe Mort~apR
e:preN!r yria to depodE~ wit6 the Mortpaee or ta dai~n ~ated a~ent ~n araouot of moner pud to t~ fhra~ce betweeo t6e • net prooeed~
of the ioan aod t6e toal amounti a~ determincd bJ? th~ Mort~a~ee. r~quirid to fnll~ oomplet~ aid aoo~truedoo in aaordance wlt6 e6e plaa
and ~pecificadaa~ 6eretotore ~uWacd b~ t6e Mort~or ~ad a~pprmd b~ the Most~a~ee. 8aid amouat of m~e~ sball be pl~ced b~ ehe
Mortppe io a"Loaw in ProaM Aooount" in tbs nune ot the Mort~a~or~ and the wme ~bsU be wed b~ the Mort~a~ee to pap t6e oo~
ehat~a and espen~a iaenrred ia oonnecdoa wlth saId ooo~trnetion p~ior ~o dl~bnr~ia ol ehi~ loaa It b furtLer a~eeed t6~e in tM t?~ot
•dd ooacr,xdoo i, na fnily campleced on or befon ehe dsee aaced In the Coateu~on Loan ~!~reemeot or in the enent thu tLe wort ao
nid ooortcuaion ~ball aau beforo full oan~letion and ~oeh casation ~6i11 oootinue io~ a peciod o~ ten (10) da~s. or-if saMtanti~l oontinuoa~
prosrp~ ~6a11 not be made ta ~acb ooostnxaon~ then and in ~nr toeh e~mt the aid ag~regate ~um~ Pdocipal aad tnteray mentioocd in rdd
promiror~ aote, and all monia recnred hereb~ s6at1 beoome due aad pa~abfe fort6~ritL or tberesfter at the optioa of ~aid Mortaa~ee; aad in
tbs r~eat of ~nc6 ceMation of work upoo ui~ oon~trnecion for a period of ten (10) dayr~ a if su~tantial oondouous Pro~res ~ha11 aot be
made 1n ~ucb eoo~truetion. a alo~aaid. tbe Mo~ss~ mar at ib optloo enter into and upon the mo premi~a aad eomplete iaid eoo-
stroedo4 in wc6 manaer as it deaas ad~able wi~Lou~ anr face~ferenee from cbe Moreppr; t6e said~etp~or heceb~ ~~Int ~ad ~n~
M tbe Mortaasee fu11 powcr aod aut6ocity ~ mate snc6 eatcf into and upon said moet~ed pranises~ to entcr into wcb oootncb os ar~
ran~emeab a ma~ be naeaarr eu oomplete aid oon~tructioo~ wd tu ezpend an7 ~a remaintng in ~aid "Loan~ lo Proca~ Aooouat" ~nd
In addttioa an~ snm~ o~ aooe7 naasar~ n, oomplete said ooa~trnaioo; aad an~ sad all monia apeeded b~ t6e Mortgsga ia aonneedoo
wit6 ~ncb oompletioa of oomtr~ction in e:cas of t6e monia in said "I.oa~u io Pmces Acoount" ~hall be added eo the ~ald principal debt and
~hall drsw interat at t6e rate prorided io ~aid promissory note, and ~baU be seenrcd by tbi~ mortgage, aod thall be payable b~ the Mort~o~
~ ~m~. ~„~1'~ ~ 9~
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