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S. T3u in t6e cvenc of • ~uit beins in~ticuted w foreclwe tdis iooa~a~e, t6e Moces~.~e s6sU be enatled to apply u aay time du~
such forcebsure ~uit to tAe couct haviaQ ju~isdiaioa the~eOf for t6e appoiaauent of a recei~er of all and sia~utu the mort~s~ed properqr,
ot all rents. incoma, p~ofib~ usua and ~evrnua chereof, fcan Rhaaoeve~ wurce derived; and thereupoo ~t b 6ercby e:prasl~ co~enaated
and a~teed t6at tbe court shsll tonh~~ith appoiat sucb ~aeiver with the usual povren snd dutia of recei~en. in- like cases; snd said ap-
poinanent abdl be made by t6e court at a maaer of strict ~irbt to the Mo~a~eq aad wit6out rekreace to the ade9uatr r~ insdequaep of tbe
•alae of ths poopecty 6ccebr rnort~aged~ o~ to che sotveacy or inwiveacy of t6s MongaQo~ or aar othec partr defendsnt to sucb sujt. T6e
Morc~u~ 6ereb ipecificaily wsiva cbe ri~ht to object M t6e appoiatmeat of a receive~ as aforaaid aad 6ereby e:prasir eo~seab tbu wer
appoiadneat sAal~ be m~de as an admitted equiq~ aad as a mstter of ~bwlute riQht to the Mort~a~ee and that cAe same c~± be doae wit6out
ootice !o t6e Mortes~or.
6. Zbat if anr procecdings ~6ould be iwtituted agaiwt t6e property oovered by this morgage upon aay other tien or clum w6etLe~
~uperior o~ juoior to tLe lim oE t6i~ nartQa~e~ the I~io~a~ee may at in option immediately upon iwtitucion of sucb suit oc durioQ t6e peod-
ene~ thereof dalan t6is mort~a~e and the indebtedna~ ucured hereby due aad payable fortbwith and may at ia optioo procecd ~o foreelae
th» mort~aga
T. To pay all aad aagula~ c6e oo~ tca, e6arges aad ezpeusa of eveq kind, includiag t6e oat of an abstract nf title to taid landr
fouad to be oonyeaieat or eYpcdimt ia connection with.ac~ suit for t6e forecbsure oE this ~oo(t~a~e, aad al~o intludia& wurther tAe ~t~a~ea
u obU~ated to pa~ aame or aot. rwonible tKOtaey's ~tes inCURed ot espeaded ae any ame by t6e Mortga~es baause of ~6e failu~e~ of t5e
Mon~a~or to per rm, canplr nit6 aad abide by all or aay of tse ooveaaats, oondiaoo~ and stipulatiau of said promiawrp notq or t6ia
mortQa~e. i~ tbe forcclosure of this mort~agc and io collaan~ t6e unount ucured hercby wit6 oc wit6out le~al proceedinp, aad to teiai-
bune the Mort~a~ee for even paymeat made o~ iacurred for aar such pu~pose with intuat from date of eneq ~uc6 papoent at t6e nte ot
a~t pet ceot (f9frj per annum; sucb paymeoa and obligstioos. witL mterat thcreon n aforaaid~ s6a11 be ~aured b~ tbe lieu 6ereof.
To kap tbe b~didin~ or bulWin~t oow or 6ereafter on said land inwred a~ainst laa or dunag~e b~ fire~ ertended ao~eraae aod
other pe~ib. induding war risk imunnee if a~ailable. ia a~nm ~aot las than t6ar full iosur.:ble ?alue at the oost and e:pease of t6e Mort-
ga~or ia a oompwy or compania appto~ed by the Mortgageq tne pol;cT or pol;cia to be beld by t6e Mo gagce~ and suc6 ~+nliep or poliaa of
insurance s6a11 6a~e affind thereto a Staadard New lork Mortgagee Clause, makiog all bss or {o~aa uader s~xL polic~ or policia payable m
the Mortgagee as its interat ma~ sppear~ and to deli~er uid polie~ o~ poliaa to tl~e Mongagee whea issued witb t6e receipbt for the paT-
ment of t6e p~emium therefor; and ia t6e event anp sum of monep betotna payable uader such policy or policia~ t6e Moctgagce s6a11 ba~e
t6e option to mti~?e and apply tLe same oo aoeount of tLe indebtedna~ secured Lereby or to permit t6e Mortgago~ to receive and use it, or an~
put the[eof~ for ot6er purpases~ witL~ut t6e~eby waiving ot impairiag anj equity, lien or nght nnder or by ~irtue of t6is mort~age; and
t6e Mortgagee if it dcam necessary may plue and pay for s~ch in:uranoe, or auy part t6creof~ without :osing, waiving or affcctiag Mort-
~a`ee'~ option to foreclae for breach of t6ia ooveaant, or aay ';urt thereof~ o~ aay rig6t or option under this raortgage. and every sucb paT-
ment shall bear interat from date t6ereof until paid at the rte of eight per ceot (i96) per aanura. and all sueb paymend with interat a:
aforaaid s6a11 be secored by tbe lirn heaof. In the e~ent any las~ or damage is suffered Mortgago~ s6a11 notify Mortgagee of su~h IoM oc
damage withio forty-eight (4f) bours after tLe happcaing t6ereof; the hilure to give suc6 ootiee s6a11 corotitute a defauh aad the MortQa-
gee s6a11 have the tights 6erein gi~en for all defaulb.
9. To permiy eommit or auffer oo a~aste aad to maintain t6e impm~emenn at alt tima in a state of g~ood repair and coodition; and '
0o do otpe rmit to be doae to uid ~remises n~6ing th:t will alter or eLange the use and c6aracter of said property or ~n any wa~ impsir et
weaten tLe securit~ of uid mortgagr. In cax of the refusal. ncglect or inabilit~ of the Mortgagor to repair and maintain said propertY. tbe
Mort~agce ~aap. at ib opfioa. mate soch repain or cause the same to be made aad advance monia ia that be6alf Rhich swm a6a11 be secu~ed
by t6e lien Lercof and beu interat at tLe rue of eight per cent (i96) per aanwn.
10. To deliver the abstcact or abstnets of title corering the mortgaged property to Morigagee or its daignated aa nt~ .sbic6 sball at
all ~times. durin~ the life of this mortga~e, remain in tbe poaession of the Mortgagee and in e~ent of the foreclosure of this awrtgage or atha
traosfe~ of ritk. all rig6~ title and interat of the Morcgagor in and to aay ~uch abstraet or abstracn of title shall pass co the purchaser o~
Qrantee.
11. That no wai~er of aur covenant Lerein or in tbe obliguion secured 6ereby s6a11 at an~ time hereafter be 6dd to be a~sai~er o!
a~y of the otber terms 6ereof or of the nate sacured heteb~.
12. Tlut in order to aaelente the macuriiy of che ;ndebcedna. herebr secured because of e6e failurc of che Monga~or co par ~r ~
asseammt, liability. obligaaon or eacumbrance upon said pmpertr as herdn provided, it sLall not be aaessap aor requiaite that t6e Mort~a`ee ~
s6a11 Snt psr t6e sarae. -
13. T6u if tLe Mortgs~or s6a11 fail. neakct or refwe for a period of thirty (30) days fuily and promptl~ to pay the amounb ee-
quired ou be pa;d br the nae henby saured or the IDterest therei~ specified or any of t6e sums of moaey Lereia referred to or hereb~ ~
curc+d. or ot6erwife dul~. full~ aod prom~tly to perform. ezecute. aomp1~ witL and abide by euL. e~ery or any Of ~II! 00~lDiDb~ ooaditioe~
or atiQuladons of tbis mott~a~ the pranwory oote 6ereby secured ~nd/or tbe con~truc~ion ioan agreemrnt, if any~ then. and -in atber or io
mr of ~ueL event~, without notice or dmnand, tLe said ag~rsgate snm mmtionod io said promiswn noa, las previous paroents~ if an~~ aod .
an~ and all sums mentiooed berdn or secured 6ereb~ sbsll becane due aod payable fortbwit6 or thereafter at .t6e oontiauing opt~oo o~ tre
Mortp~ee ss fully and aompletelr as if said s~rcgate sums were originallr stipulated to be paid at ~uch time, anrthing in sa~d pnmiworp
note or 6ereia to t6e eontrarr notwitLstandin~ and tbe MortQagee s6a11 be eadtkd tbereupon or tLereafter witbout aotice or demaad to io- >
~titute wit at la~s or ineq uup to mforte t6e ri ts of t6e Mortgagee heceunder or under sud pmmiswr~ noca In the evmt of anr ddautt
ti
' or breae6 m t6e part o! tLe Mo~t~a~?r cr or under said promissorp note~ tLe Mortgagee shall 6are tLe oontinuing opcioa to eaforoe
; pa~rtaent of dl swns ~ecured 6ereb~ b~ aetioa u taw or by ~nit iacq
uit~ to foreclwe this mort~age, either or both~ aoocurreatl~ or atberwi~e~
~ and ooe ~etion or suit shall na abate or be s bu to or wai~er of cLe Morr~s~ee • ri~ht to iasticuce o~ maintain ~Le aber, pro~ided said Mort-
! p~n ~h~ll 6are onl,~r one paymmt and sa~f~etion of ~aid Indtbtednss.
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~ 1~. Z'S~t Iu tL~ sn~t t~at r~hall (i) oaaent to tbt ~ppototmtat of a reed~er~ mnta or liquidator of all or a~ubu~odd
part of Mor~ w~ ot (Z) b~ sa a eated a baoktnpt oe In~ol~mt. or tile a~ol pedtloa In bantcupter or adrdt in wrtdos It~
[aabiut~ » p~, ~ d~bt~ ~ t~q beoomt u~, or (f) mak~ a~eneral adpment ior tb~ ~t of ercdicon, o~ ~ile a peddoa or ww~
~Idns sadoa ot wlth creditars~ or ta t~lce adnaotap o~ an~ inahenn? law~ or (S) file an ao~wer admittin~ t1t m~-
terial ~1 ot a peddoe Isd apinu tbe Mort~a~or In ~n~ bantrupecr. reor~anisatioo or inwheacp proceedtn~ or (6) ~edao ~btll b~
~ akea bTu~r~or fo~ t6e purpou of effeettas an~ of tbe fore~oin~ or (7) aa~ order~ judpaeat or decne ~hall be eaceced apoa so
~ appiicatioo of a esediwr ~ Mort~o
r b~ a oourt of aanpetent !url~dictioo approvin~ a petidm ~cekin~ appointmeat of a rad~er oe trwEes
of all er a snb~taodd part ot t6e Morcaa~or'~ a~ea and ~uc6 order. JYlI~tDlOt Of d!t[!! /LtII OD[1tILU! UDiti C/I ~MI 10 lHEG! ~Oi t0~ pt(IOd ~f
ehir~ (30) ooo~ecud~e dar, tbs Mortga~ce ma~ declare t6e oote 6ereb~ ueured forthwit6 due and ps~ab~~ whece~pon t6e prindpal of and
tbe in~at aoeroed oo t6e note and all otber swm Lerobr sccured s6.» beoome toccbwic~ dne and pa~able as if aU of tLe s~id ~um~ of mooef
were ori~aall ~tipulatsd to be paid ao sab day; and t6aeupon the Mort~a~ee wicbouc nodee o~ danand ma~ proiccuce s~uit sc law and/or
in equitp a~ i~all mooia ~eeot~d heteb~ 6td msturod prior m hs Imdtutioa
lS. T6at eM Moetp~ee or sn~ penon authorised b~ t~e Mort~a~ee ~6a11 hs~e tbe riQht to enter upon and impect ebe mort~ed
premi~a at all renooable tima.
16. Tbat ao~ suw or ~wns wLicA may be bancd or advanced by t6e Mort~a~ee ~o t6e Mort~ag~or at any time withio ten (10) yun
from tbe date ot t6is indeature, tojether wit6 interat tbereon u the rate s~reed npon ~t tbe time of weh loan or ad~aace, s6d1 be eqwll~? a-
~ured wit6 and 6a~e tbe ~ame priority u t6e ori~inal indebtedna~ and be ~ubject to all t6e tcrms and pro~isions of this mort~s~e: Prmided,
thst tbe a~tesate amount of principtl ou~tandin~ u ao~ time shaq not e~ceed aa amount equal to one hundred and fiftr per cent (IS096) of
cb: prineipal amo~ne ori;inaly acured becebp.
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~ 17. 'l~u. (f «qntred b~ Mortpsa, tbe ~aid Mort~a~r will pa~ unoo tle Morte~e~ oo tLe fint day of eac6 and e•erY ooo~ecud~e
iw
~ a waneq
wl ~o ooe-twclh6 of cbt aaau~l smounc neca~arr ~n par dl cssa ~ad aiwmena a~ai~at the uid mortaas~ P~~, sda
moot~ r aum to be estimated sold~ bj Mo ~ee and cskulated to be ao amoun~ oot la~ tban t,t amoiwt of uza awea~cd a~aimt ~aid moet-
i~ P~ for t6e prs~iow sear~ and~ turtber ceq~red bT ~~Y~ ~ Ps7 ~II iosnraaa premtuar lo manaer aad fono ar pe~o~idea
6erda for tye pqmeot o~. taus and aae~menes.
lf. 'I'6~t i~ tbt e~eat tM bsn w6kh t6i~wor~a~e b drea to ~eevrt b madt fvt t5e y r~ eE fiaaoeins eitba tLe ooa~e~
oE nsw butldiap or tD~ eoo~tructioa a~ Gapeo~emeaa aud/or a~ditioni eo ~n~ bulldia~, the 1N~~r~ if ~equirod by tb~ Irsa~t~,
s:preMlJ asrees eo depoit witr t6e ~lortp~es or !b dai~nated asent ~n amo~m! of moss~ equd ro tDe difEereaee between tbe oet woe..~
of ~!e lo.n aad ~b. eo~at amouo~ d daermioed by c~. Mocesasee, red ea fnll~ cmpls~e ~aid eoo.wedoo in .ooord.oce wie~ r6e
u~d ~pedReatiow ra+etofocs wbm~iasd b~ tbe Mertppr ~od ap ~br t~s Moitsape. Said ~oount of mooer ~hdl be pl~eed bp
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Mo~ipj~t ~D t~.olM ~6 pf0[!M ACC~OU~ ~ t6t O~fat O~ t~t ~~Df~ f~ t~! Hfa! bt Wed b~ t~t ~Ottsatt! b pa~ t~! lOM~~
e6ara ~ad espea~o inenrrad ta oonneecfoo witti ssid ooo~ructiio~ prior es dt~budo~ e! tW~ iwo. It i~ furtbsr a~reed c6~t ta tbs tnat
uid aooKrueBoa b oot fnly oaapleced oa ot Mlon eM ~ae ~tsted la tM C'oaKr~ioa Loan or Is ch~ ereot ~hat eLe work a~
ue
wId coarttoetiu~ sYall oew befae full oom i~eloe aad weti aasdoe i1~s11 aeadaw tm ~ perlod em (f0) da er H~u6~ts~dd aoodaoa
p~~pw~ ~aU ~ot bs mad~ ia eoo~erna~oe, tbea ~ad !a ~n~ ~ucU enoe tbe Mid a~ePte ~um„ rrindPal an~ iaan~, mendoo~d te ~dA
P~7 soa all monia ~eeared beseb~~ ~all b~ooms dw aod p~~able fo»l.:;cti or c~sreafar a cbe oodoo of said ud i~
eM ttest o! a~ a~aeiaa o~ werk upoo wid ooo~eruetiao ior s~sriod of tea (10) dar, or ~a~taotid oootin~ww pro~rts~~ aet ~
m~d~ to ~ne~ ooa~tryetion. u atoraaid. t4 Mo msr u tb opdm mar tnco aad npoo ebe more yraai~ aad ooraptea ~aia ooo-
ttrnttloa Is wcL saoAer a~ it dse+m~ ad~i~abk ~ an~ Iotetftreoce iram tbe Mortsa~ot: tbe atd ~c~~ krebl ~i~in~ aod ~rs~de~
a eb 1Rortppe lu11 yowss aad ~ut6mity to mats ~ucti eotr~ tam aad npae sdd saRpsed emisa„ co aaer 1~ wcr coatraet~ ~r u~
a
rao~eseae~ r.a~ be uece~~ry eo oompka uid ooo~t*ueKoo. ~nd es ezpend ~n~ esooie ranal os in aid "Lesti io Proca. ~ooa~ot" ~
ie adAities ~a~ snms of a.ooq osca~aq to cwap{ete wd aoo~truetioo: ~ad o~ aad all awda e=perded bT tre Mortpsee In eona~
witf we~ oaapktioo ot oon~truction in euas of [be mooia ia said "[.oan ia Procss Acooune' ~6a11 be ~daed es tre uId priucipal debt ae/
~lal) dnw interat u tbe nte pro~ided io uid pro~on oote and ~Adl Se securcd bT t6i~ mort~a~ ~ad ~dd) bt pratik b~ t~e 1~fort~t
~ ~ 1 ~3 14 72 _
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