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S. TLat in t6e evcnt of a suit belas iwdtuted to fo~alae tLi~ mort~~e, tse Me~s~ee ~haq be eadtled w appl~ u any time dudn~
•ucb fo~alosure iuit m t6e rnuK haviag jurisdicaoa tbeceOf for c6e appoinaneac of s raei~er of sll sad ua~ulu the mo~ssed pe+oper4~~ tad
of all reats, inooma~ profit~ iaua and ceveaua c6e~eof, fcan ~baaoe~e~ wurce deri~cd; snd tDereupon it b hereby e:prealy oovenanted
aad s~eed c6at tbe coun ~hall fon6wit6 appoiat such ~eceive~ with tLe ususl povrers sad dud'a of rcee~vcn. in Ukt cases; and ~aid ~p-
poinnnent s6a11 be made by t6e coun as a msae~ of urict ri~ht to t6e Mort~a~ce, aad v.itbout ccfsnace to the adequacy or iuadequacy of t6e
ralue of t6e propert~ 6ueb~ moct~a~ed! or w the tolveacy or ~n~olvency of tLe Mo~a~o~ or any othe~ partp defcodant to ~och wit. Tbe ~
MonQa~or hereb~r ip~cifica ly waiva ~tie riQ6t tu object to t6e appoiat~neat of a~ccei~er a~ aforaaid aad 6ereby e:pnalr oowenb t6at web :
appoiaduent sball se made as w admiaed cqulty aad as a muter of ab~olute dQht to the Mort~asa and tbat t6e ume may be doae wltbow ;
notice to t6e MortQs~or. ~
6. That if aqp proceediu~s sbould be insdtuted a~aiast the pwperty oo~cred by eLis mo~e upa~ aa other lien w claim wDetLer
a
~uperior o~ juaior to the lim of thi~ ~nort~a~ t6e Mo~s~se may at id optioo immediatelr upoo imcituaoo o ~ucL suit or ducins t6e peod•
mcy thereof dalare this raoct~a~e aad the indebtednes~ seeured Seceb~ due and payabie twchwich aad mar at ib optioo proceed ~o lorectac
t6is moct~sgt.
7. To pay all aad tingula~ t6e oost~ fea, cbarga aod ezpema of eveq ktcd, iodudIn~ the cast of an abstract of title to ~aid laadt
fouad to be conveaient oc expedieat ia oonnadon witb.aq~ suit for t6e forcclosure of tLis mo{t~a and ala includin~. w6et6er the M~r~t~
is obli~atcd to pa ~ame or not. reasoaable aaomey's ~fea ineumd or upended ac any dme by~ MortEa~ee bceawe of thr tailure of tbe
a
Mo~agor tope oou, comply wit6 sad abide b~ all or aay of t6e covenanb, conditiau aod ~tipulatioa~ of uid promi~ory aate. or t6is
mortgaQe. in the foreclosure of t6is mo~age aod in collcctia~ the amount ~ecuced berebr wit6 or witbout lepl proceedinp. aod to ~eim-
bune tbe MortQa~ce fo~ every* pay-ment made or iac_~~red for aa~ ~uch Purpose wit6 interat trom date of ena~ sue6 pa~meat u tbe nte of .
eia6t per teat (t96) per annum; tuch paymena and obligstioo~, witb wterat thereoo as aforaaid. sbsll be ~enued br tLe lien bereof. ~
i. To Icap tbe buildinQ or butldings now or 6ereafter oo wd land insurcd sYsimt loa o~ darioa~e br fire, erteaded oo~etage and }
other perils, includiag war risk inwnnce if available, tn a~am -not la~ t6ao thdr !ul{ insurable ~alue at tLe oo~t and e:peme of the Morb
gagor in a oanpany or oompania appro~ed by t6e Mortgagee, the polie~ or polieia to be beld by t6e Moet~sgee~ and suc6 policy or poliaa of
insuranee a6a11 Lave affi:ed thereto a Sandard New York Mortgsga Clause, malun~ ali loas or loaa uoder such FoUep or poLcia payable to
the Mortgagee as its iatereat may appear~ and to deliver said polic~ or policia to the Mortgagee whea issued wub the mapb for tLe pa~-
meat of the pranium t6erefor; aad in t6e e~ent anj
au~w.~ baoma payable uader such policp or polides, the Mortgsgee shaU 6a~e a
tse option to raeive and appiy t6e same on sooouot of tDe ~nde~~nat saured hereby or to permit t6e Mortgagor to receive and use i~ or aa~ ~
put the~cof~ for ot6er purposes. vvitbut theceEy waiving oc impairia~ aa~ equity. lien or ng6t under or by virtue of t6is mortgsge; and
the Mortgagce if it deems neasaary may place and pay for sucb iasuranoe, or any part t6ereof~ without losin& waiving or affecting Mort- ~
gagee's option to foreclae for breach of t6is oovenany or any part t6ereof, or u?y rigLt or option uader this mortgaae, and every suc6 pa~- ~
ment shall bear interat fmm date thereof uatil paid at the nte of eigbt per cent (i96) per ann~m. and aU such WS~ment+ wit6 inte~at a~ ~
aforaaid s6a11 be secured by thc lien heraol. In the event any ka or damage ia s~ffered Mort`aaor sLall notify Mortga~ee of sueh loa or
damage wit6in forty-eig6t (4f) 6oua after tLe 6appening thereof; tLe failure to gi~e such notice shall oonuitnte a defauh and tDe Mortas- ~
gee shall Lave the rights 6ereio givea for all ddaulb.
9. To permit~ ~ummit o~ wffer no waste aad to maintain t6e impro~aneab at all tima in a state of good repair and aondition; and ~
m do or permit to be done to said premises aotLing tLu will alter or c6aage the we and cDaracter of said prope~tp or in any wa~ impair or g
weaten the secaritr of said mortgage. In case of tbe refusal, neglect or inabilitp of the Mortgagor to ~epair and maintaia said property. the ~
Mortgagee may. at its opfioo~ make s~ch repain or cawe tbe same to be msde and ad~ance monia in tLat behalf wLic6 sums shall be seeured
b~• the lim 6ereof aod bear interat at t6e rate of dght per cent (i96) per annum.
10. To deliver the abstract or abstracb of title ao~ering t6e mortgsged peoperty to Mortgagee or ia dai~nated agent~ ~v6ieh shall at
ail tima. during the life of dus moctga~q remain in the poaasion of the Mort~agee and in e~ent of the foreclosure of tLis aactgage or aher
trawfer of citle~ all righq title and interat of tLe Mortga~or in and to an~ sneL abstrsct or abatraeb of title shall pa~s to tLe purchaser or
gnntee.
1 t. That no waiver of any eoveaanc 6erein or in ~Le obL'~arion secured 6erebr s6a11 ac an~ ame 6eceafcer be beld co be a waiver of
any of t6e oc6er terms heraof or of the note saured 6erebr. ~
12. That in order to aocclerate c6e macnriey of c6e indebcedna. 6ereby secured baause of ~be failure of c~e Morc~ur ~o par ~ur ~ ~
assasmeat~ liabitity. abligatioa or eocambrance upoa said ptope~ as 6erein pro~ided~ it s6a11 aot be aeceasarp nor requisite t6at t6e Mortga~ee
shail Snt par t6e same. ~
13. T6at if tLe Mongagor shall fail. negloct or refine for a period of tbi~ty (30) days fnlly and promptlr to pay the amounts re- 3
quired to be paid by the nae hereby secwred or the interat t6erein specified or anr of tbe sums of money Leran referred eo ur 6ereb7 ~ ~
cu~ed, or otherwise dul~~ ~uU~ and promptly to perform, e:ecutq oomp~lr with and abide by eseh~ everr or an~ of the oo~maot~. aonditiao~ ~
or stipulatioas of t6is mortQa~e. t6e promiswry note 6ereby sauced and/or the con~tnntion ban agreetnent, if any. tben. aad in dtber or in
aay of sucL ecrnts, wit6out aotice or demand. t6e uid agg~egate sum meAtioe~ed in said promissocy note. las previous pa~menu. if an~. sod
any and all sums mentioaed Lerein or securcd 6erebr shall beao~e due aad payabie fortLwith or t6ereafter at t6e oontinuing option of t6e
Mortgagee as fully and oompletd~ as if said aggregate wms Rere originall~ stipulued to be paid at sucb time. anrthing in sad promiMOq
note or 6errin to the coatrar~ aotwithuanding. and the Mortgagee s6a11 be eatitled thereupon or t6ereaher wit6out notice or demaod to ID- L
stitute sait at la~s or in equitr to enforce the rig6ts of t6e Mortgagce Leaunder or under sud pramiswq nota In the e~ent of an~ ddault °
or breacl~ oo the part of tLe Mortga~or 6erennder o~ onder ~aid praais~or~ note. the Mortgagee s6a11 ha~e the oontiauing option to enforoe ~
~I payment of all sur~~ secured hereby b~ acoion u law or by suit ineq
ar~tr to foreclae t6ia mort~age. atLer or bot6. ooocurrmtly or othen?isG 4
and oae actioa or soit shaU not abate or be a bu to or waiver of t6e Mortgagce's riQ6t to iastitute or maiotaia tLe other, pro~ided said Mort-
!f gagee sLall have only one paymmt and ~atisfaetion of said indebtedoas.
` 14. T6at in the tvent t6at Mo~ga~ur s6a11 (1) aoment to t6e appointmeat of a rad~er~ trwtee or liquiduor of all or s substantial
~ ~art of Mortga~ot'~ at~eb, or (2) be ad'ndicated a banlm~pt or inal~eu~ o~ file a~oluntar~ peeitian in bankruptc~. or admit in writio~ Ib
inabilit~ to pa~ Its deba u the~ becomt ~ue~ or (3) make a~meral aai~nment for the beae~it of credito~ or file a petitioo or an~wa
~ seelcin~ reorQan~zadon or arranaement with crcditon. or to take adrantage of any imolvmc~ law~ or (S) file an answer admitting t6e ma-
cerial allegatioos of a paicion filed aQaimt eLe Morcgagor in aoy bankrupeet. reorgani~tion or inal~mcr proceedin& or (6) ~etioo sball be
takm by t6e Mortgagor for the purpae of effating an~ of t6e foregoin& or (7) an~ ordeq. judpnent or dacce aLa11 be rntered upon an
applieuion of a ereditor or Mortgag~or b~ a co~rt of oompetent jurisdiaioo apprm~it~ s petieoo seeking sppoiatmmt of a raei~er or truatee
of all or a subsandal put of t6e Mortgagor's a~eb and sac6 order. jud~?ent or daree sLall oontinue un~tared and in effea for an~ period of
t6irt~ (30) oomecutire da~ tLe Mortgagee may declarc the aote heceb~ sewnd toctbwitb dne and pa~able. whtreopon t6e principal of and
che interat ucrued on t6e note and all a6er sum~ berebr •aured s6s11 beoome forchwic6 due and parable as iE a11 of ~Le uid sums of mooer
were orig'~aally stipulued to be paid oa sixh dsy; and tLereupon the Mortgagee withont noace or danand may proiecute a suit at lavr and/or
in equity as if all monia ~ecnted 6ereby had mstu~ed prior eo ib io~ticutioo.
IS. ~at tLe Mortgagee or any pcrwn authoriscd b~ the Mort~ee shall ba~e tbe ri~t to eater upon aad inspect c6e mort~a~ed
premi~es at all reaaonable times
16. That aar sum or s~m w6ich may be loaned or advanced by the Moet`agee to tLe Mortgagor at an~ time wit6in tea (10) yean
from t6e date of shis indenturq wgetLer with interat t6ereon at the rate agreed upon at tbe dme of suc6 ban or ad~ancq shall be equall~ se-
cured witb and 6ave t6e same priority a the original indebtednas and be subject to all t6e tcrms aad provisions of this mortga~e; pro~ided,
t6at che aggregate amouat of priaeipal outstanding u io~ time s6a11 not e~ceed an amount equal to one 6undred and fift~ per eeat (15096) of
the principal amonnt ori~inally ~rtd hereby.
17. Thae, 1f required b~ Morc~ c6e said Morcga~or wiU par naco che Morc~ee. on ~6e finc day of ach aod e.ery ooosecutive
month, a sum equal to ont-twelfth of t6e annual amouat aeus~sry to pa~ all.taus and awwmenb a~aimt tLe said mortgaged pranisa. safd
montbly sum to be atimated aolely by Morcgagee and cakulated to be an anaunt not la~ than tLe amount of tua aseMed againa raid mort-
gaged premisa for the previow par, and if furt6er required by Mortgagee to pa~ all imurance premiwms ia mmner and form as pro~ided
- herein for tDe paymrnt of. taza and aa~eammts.
IE. T6at in the e~ent t6e ban w6ie6 tLis mort~a~e i~ p~ea to secure jt made for the paspae of financinQ dtber tbe ooostn~etioo
of nev? buildiags or tLe aoo~truction of impro~emeaa wd/or additions tu rristin` buildinp. the Mortp~or. if nquired b~ t6e Moctga~
ezpraslq agcea to dcpo~if with t6e Mortgagce or ib dai~ated ageat an amount of mone~ equal to tLe difhreaee betweea tLe aet proacds ~
of tLe loao and the total amount~ as determined b~ the Mort~agee, reqmred to fnll~ oompleee satd ooo~uctiao in aoourdaace wit6 tLe plam `
and spaifieations heretofore submitted b~ tLe Mortga~or aad appro~er! b~ t6e Mort~a~ee. 8afd amouot of mone~ ahall be plsced b~ t6e
Mortgagee in a"Loans in Procas Aoooant" in the name of the Mortga~or~ and tLe aeoe s6a11 be med b~ tbe Mortgasee to pay tbe cow,
charges and upeasa iocurred ia oonnadon witb said oomtroetioo prior to di~bunins of t6is lwn. It is lurther a~eed c6u tn tbe e~ent
said oonunution ~s aot full~ rnmpleted oa or before tLe date stated in t6e Comtcuction Loan A~reaneot or in t6e e~cnt t6u the wort o0
uid oonstruction s6a11 cease bcfore full oom~letioo and ~uc6 ce~ation s6a11 oootiaue for a period i teo (10) da~r. or•if suMtantial cootinuons
progras s6a11 not be mide in snc6 oonstrucaon~ theo aad in an~ sueb e~ent tLe aid aggregate ~um~ principal and iaterat~ mearioaed in ~aid
prami~sory notq sad all monia ~red 6creby, ~hall beoome due and pa~able fort6witb or thertafur. at tLe option of said Mortgagee; and in
tbe eveat of snch easaaon of work u uid eonstrncdoa for a period of tea (10) da~s. or if substantial aontin~wus progras s6a11 aot be
made in suc6 oomtructioo, as aforaai~che Mor~gaga ma~ u its opcion enter into aad npon the mort~a~d premisa and eomplete said aon-
uructioo in ax6 manner n it deans ad•iuble without ~n~ interfereaee fram tbe Mort~a~or; t6e said btor~a~ar 6erebr p.in~ aod Qanein~
to the Mortgagce full power aod authorit~ w make socL eatrf iato aod opon sald mortaaged pranisa. co mter into suc6 oootrscts or u-
rangemmn as may be neeasar~ to oomplete said ooostr~xtioo~ and to aPmd an~ mooia flm~lUlOg llf said "Loaas In Procea Aooouut" aod -
in addicion an~ sums of mwnr~ naeaarr to oornplete uid ooauruaioo; aod any snd all mooia e~ended br ~6e Mortgaga in coeneccioo
wit6 sue6 aanpletion of coostructia? in euas of t6e mo~:a in said "Loa~ in Proas~ Aaoou~" ~6a11 be added bo the said principal debt and
shall draw interat at t6e rate pm~ided in said promis~oq aote. and shall be secnred br thi~ mortp~e, and ahall be payabk b~ t6e Mort`a~ur
0o demane. ~r~~
~wa~c