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S. TLat ia t6e evenc of a ~uit beia~ iauiated to fo~ectac this mon~a~y tse Mort~a~cs ~6a11 be enatled to appl,r at aay time dudns
•uc6 fo~absure iuit to t6e rnuct 6aving jurisdictioa the~eqf~ fo~ the appoinuaenc of a raei~u of all and ua~ulu the moetpsed property. aod
of all rent~, incoma~ profits. issua aad ceveaua thuoof. from ~haaoe~er wurce dcti~ed; aad tbtceupon ~t b 6enby e:prasly oo~enauted
aad aQ~ecd t6at t6e court ahall Eonbwith sppoiat •uc6 receiver wit6 c6e u~ual povron aad duaa oE reui~en. in tike casa; sad wd ap-
pointmeat s6a11 be made by the court as a maner of uda rirht co tbe Mort~a~ce, and witLout refereoce eo tbe adcqwep oc iaadequse~r o! tbe
value of t6e propertr 6eceb mort~~~, or to the wlvcner or imolveacp of tbe Mon~a~or or aqr a6e~ paet~r defeadwt to ~ue6 suit. T6e
Mort~a~or 6ereb spaifica~ly naives t~e dg6t to objeet to t6e appoiatment of a~ccei~cr a~ aforaaid and he~ebr up~essly ooatcnb t6at web
appoia[ment shal~ be made as an admitced equiq and a~ a muter ot ab~olute riQht to the Mort~a~ee and t6at e6e same may be doae wjtbow
aotice to tbe bloctgaQor.
6. That if aay proceediogs ~Louid be instituted a~aimt the property oo.ercd by cLi• wocc~a~e upou an~r othe~ Uea or claim wbetDer
~uperior or juaio~ to t6e Gen of thi~ mortga~e. t6e Mottga~ee may at ib option immediatel~ upoo in~titudon of nxL twt or durit~ tre pead-
eocy thenof dalue thi: roortQa~e and the iadebtedaa~ seeured 6eceb~ due and p~yable fort6wit6 aad mq ~t in option procced to focalae
t6is tno[t~age.
To pay all aad siagulsr tLe co~ fcs~, c6ar~es aad ~pe~d of eveqr kind, including t6e oat of an ~bstrset of title to uid lands
fouad to be oonveaieat or ezpedieat in oonaation with.an~ suit for the foreclosure of t6i~ mo~t~aQq aad al~o incl~din~. ~bether t6e ~~es
is obli~ated to par suae or uot. reawaable attorney's ~ees ineurced or e:peaded at any time br t6e Mmt~a~ee baawe of tbe hilu~rc~
of tbe
Morcgagor to perform, caoply wicL and abide by all o~ aay o! c6e ooveaaaa, eonditiaa aud sdpuluions of aid pnomiaary aotq or this
mortga~ in tbe foreclosure of chis morc~age and ia collecanQ che amoua~ .ecured 6eKbr wit6 or wit6out le~al proacdin~. sod ro reim- ;
bune t6e Mortgagee for every payrneat made or iacurted for any suc6 ~urpoee wlth Interat ftom date of a~ety suc6 pay~oent u t6e rate of '
ei;bt per ceat (~96) per aunum; such paymena aad obligariow, witb mterat thereou as afore~aid. shsll be teenrcd br tbe lien Leroof.
t. To keep the building or bu~iding~ oow or heresfter on uid land inwred a~aimt Ioa or dama~e b~ !'ire, ertended oo~eca~e and
ot6er perils, includiag wa~ rist iasunnce if availablG in a}um -aot las than their ful{ insurable ~alue at tLe cost and e:peese of tbe Mort-
gagor in a canpany or compuua approved by the Moctgagce, the polic~ or poliaa to be held by t6e Mortgagce. and soc6 polic~ or poUda of
insurance a6a11 6ave affi:ed thereto a Standard New York Mortgsgee Cisusq tnsking all loa~ or lanses under sucr poliey or policia payable eo
the Mortgagee as ita iaterat may appear~ and to deli~er said policr or policia to tbe Mortgagce w6eo iswed Kith the recapb for the pay-
mcat of t6e premium tberefor; and in t6e event any sum of moner becana payable uader snc6 polic~ or policia. t6e Mort~a~ee s6a11 ha~e .
the option to receive and apply the same on acaount of the iudebtcdnat seeured 6ereby or to permit tbe Mortgagor to recei~e aod use it~ or an~
part thereof~ for other purpaaes, ~sitkout thereby waiviag or im~airing aa~ cquitr~ lien or rig6t nnder or by ~irtue of this mo~tga~e; wd
tAe Mortgagee if ic deems necasacy may plaoe and pay for suc6 insuranee, or aay part t6eccof, PttLOUt {0l10g~ wilY~Og O~ affating Mort-
gagee's option to forcclase for breu6 of thia oo~enany os any ~pa~ ~hcreof. or any ri$6_t or option undcr this mortgage~ md ~.~ry s~ wr
ment shali bear interat from date thereof until paid at the nte of eigbt pet oeat (i%) per annuto. and al) ~neh paymeub wit6 iotete~t as
aforesaid s6ai1 be sccured by t6e lien hercof. In tLe event aay loss or damage is suffercd Mort~agor s6a11 uotifr Mortpgec of ~ucb loa or
dunage withia forty-eight (43) 6oun after the happening thereof; tLe failure eo gi~e such norice shall ~omtitute a defauh and t6e Mort~a-
gee s6a11 have the righes 6erein given for all defaults.
9. To permiy oommit or wffer ao waste and to maiataiu t6e improvemena at all tima in a atate of good cepair and ooodition; and
co do or permit to be doae to said premisa aotLing that will alter or change t6e ~ne and c6aracte~ of said properqr or ia anr waf impair or
weaten t6e sccurity of said morcgage. In case of t6e refusal. neglect or inabiGty of the Mortgagor to repair and maintaia »id property. tbe
Mortgagee ma~. at ib opfion~ make soc6 repain or cawe t6e same to be made and ad~aace monia in that behalf w6ie6 wm~ shail be secured
b~ the lirn hereof and bear interat at the rate of dght pe~ cent (f96) per annum.
10. To deliver the abstract or abatrub of title w~ering t6e mortgsgcd property to Mortga~ce or its dai~?ated ageny ~~hieh s6a11 at
all times. during t6e life of this mortgsge, remain in tLe poawion of t6e Mortgagee aad in event of tbe foreclaure of t6is mortgaQe or aLer
traasfe~ of title. al) rig6y title and interest of the Mortgagor in and to any sucL ab~tr~ct os abstracb of title shaq pa~ to t6e purc6aser oc
grantee.
11. T6at ne vraiver of any rnvcnant hetein or in t6e obli~atian sccured 6ereb~ ~ball st any time Lereafcer be beld to be a~sai~er o!
any of t6e ot6er terms 6ereof or of the mte secured 6aeby.
12. T6at in order to accelerate tLe maturity of tbe indebtedna~ hereb~ ~ecurod because of t6e failure of tLe Mort~agor to pa~ aay tu
aua~mrnt~ liability. obGgition or encumbrsncc upon said propertr as hereia pronided. it s6a11 aot be nacessar~ nor requisite t6at t6e Mortgssee
~hali ~nt pay tLe same.
I3. T6u if t6e Mortgagor shall fail. neglect or refwe for a period of t6i~ (30) dars full and pinmpty to pay t6e amounts re-
quired to be paid by tbe note bereby secured or t6e interat tLeran specified or an~ of the sum~ ~money 6erein referred to or bcreb~ ~e-
cured. or othecwix dul~. fully and pranptly to perform. eucute~ oomply wit6 and abide br eacb~ every or any of t6e oovenanb, conditioo~
or uipulstioas of this moetQage, tLe pmmi~orq aote hereb~ securcd and/or t6e ooo~truction loan agreemeat, if any. theq and iu eithe~ or in
any of such evena~ witbout oodce or demand. the said aggregate sum meationed in said promiroqr note. las previous pa~ments~ if an~. and
any aad all sums mrntioned 6erein or secured Lereb~ shall becane due aad payable fortLwitL or tLeresfter at tbe aontinuing opt~on of tbe
t t!
MortgaQee as fullr and oompletd~ as if said a~ega~e suw were originallp stipulated to be paid at suc6 time. iQ~lOg ID wid
noce or hercin to t6e coatrap aotwitbstandin& and t6e Mongagee ~hall be rntiticd t6ereupon or t6ereaher rritbout aotice or demapnd~
scicute suit at IaK or ineq mty to taforce the rig6ts of t6e Morcgagce 6ereunder or oader said prcmissor~ aota Io tLe e~mt of an~ ddault
or brexh on the part of tLe Mortga~or hereunder or under said promisaoq note~ the Mortgagee s6a11 6a~e the aondnning optioa to enforee
paymeac of all sums secured 6ereb~ by actioa u law or by ~uit intq
oitr to foroclae t6ia mortgage. at6er or botb. aa~currcntlr or otherwi~e~
f znd one action or suit s6a11 na abate or be a bu to or waiver of tbe Mortgagee's riQht to imtitute or maintaia t6e at6er. pro~ided »id Mort-
gagee shall ha~e only one payment and ~atisfaction of uid indebtedna~.
14. TLat in t6e event tbat Mort~a~or sball (1) ooment to the appointmwt of a rceei~er~ truuee or liquidator of all or a subaantial
; ~ut of Mort~oe's asels. or (2) be ad aditated a baakrupt or imol~ent. or $le a~oluntar~ petitioa in bankruptcp. or admit in writing ib
i ~nabitity b par ib debb a~ tLe~ become ~u~ or (3) make a~meral wipmeat for tLe bm~t of erediton, or (4) file a petitioa or answer
~ seeting reorganization or an~ngement witL crediton~ or to take advantage of any imohencp law~ or (S) file an answer admittin~ t6e ma-
~ terial allegaaona of a petitioo filed against the Mortgagor in any bankruptc~. reorgaaiutiou or ins~l~ency peoceeding. or (6) setiao s6a11 be
catea by the Mortgagor for t6e purpose of effectin~ anr of t6e fore~oin~ or (7) anr order, jad~nent or daree s6a11 be entend upon an
applicuion of a creditor or Mortgagor by a oourt of oompetent jurisdiction approving a petition sakina appointment of a recei~er or trwtee
of all or a substaa~ial part of t6e Mortgagur's a~ets aad suc6 order, judgment or daree shall oontinue ~nstayed aod in effea for an~ petiod of
t6irtr (SO) ooroecuti~e days~ tbe Mortgagee may dalare t6e nae 6erebr securtd fort6wit6 doe and payablG whereupoa the principal of and
tbe interat aarued oo t6e note and all a6er sums 6ercby xcured s6aU become fotthwit6 due and paysbk as if all of t6e uid ~ums of monep ;
were origiaally stipulated to be paid oa such day; and t6ereupoo tbe Mort~a~ce wit6oat nodte ot demand may p~~osecute s suit at law aad/or '
in equicr as if all monia ~ecured hereb~ 6ad matured prior to ib imtitutioo. ~
15. T6at the Mort~ee or aay penon aut6oriud br tLe MortYa~ee ~hall La~e t6e ria6t to enter upoa and iospea t6e mortp~ed
premises at ail reawnable cimes
16. T6at anr swn or sume rs6icL mav be baned or advanced by tbe blort~a~ee to tLe Mort~agor at anr time withio tm (10) ~an
from t6e date of t6is indenture. togetLer with interat tLereoo at the rate a~retd upoo at tbe time of snc6 loan or ad~aaee, shaU be eqwlir sc-
cured witb and hare t6e same prioriry as t6e ori~nal iodebtednas and be subjat to sll t6e tertas and pm*iaions of this mortp~e; prorided. 3
chat t6e agareQate amount of priacipal outs~aading at aa~ time s6a11 not e~cad ao amonnt cqual to one hundred and fift~ pcr cent (iS096) of ~
the priocipa) amount oriQinally ~ecured herebp.
17. Tbay if required b~ Mortga~ee. the taid Mort=s~or wlll pa~ troto t6t D~1ort~ee, oo t6e Snt da~ of acb and e~ery oomauti~c
mon~b~ a sumeq u~l to onc-rwclkb of tbe anaual aawunt oaewsr~ to pa~ d) tazer aod ara~meab a~aio~t t6e said mortgaged Praaise~ said
~ moothly sum to be estimated solely by Mortgaget aad ulculated to be ad smoun! not la~ than t6e amouot of taza asaad agaimt said mott-
gaged premises for the previow year~ and if turther reyuired br Morega$ee co pa~ all iasotaate ptemiums in manntr and focm ar pro~idcd
~ herein for the payment of tua aod s~
~ 1!• T6at io t6e t~tot the ban wbic6 c6~ mort~a~e i~ ~i~ea to ~ecurc is m~de tor t`e r~ oE finaacia~ eit6er the comcruetiaa :
of oew buildiop or tbe ooostnxtioa of impem~emena and/or additioas to ad~eiu~ bulldlnp. t6~p 1M~~ it reqwred by tbe Mortpsee, j
en
e:presslr a~ren to depo~it wit6 cbe Mortp~ce or its daipiated ~~ent ~n amonot of moae~ pual en t~e ffereoee between t6e net pnxetds
of the loao aod tbe total ~mouat. as decermined by cbe Morc~a~ce, nqu~red e~ ~ntl~ oomPleee ~aW ooo~trutao~ ie ~ooord~ce witti t6e plaw
and spccificatioas 6eretofore submined br t6e MoKga~or and appro~ed by the Mott~a~ee. Said ~mount of mooe~ s6a11 be placed br tbe
Mort~agee in a"Loans ie Proccs~ Aaouot" ia the aame of t6e Mart~a~or. and the ame s6a11 be wed b~ tLc 1?Sortsa~ce to par t6e row. ,
c6arQes and ~pen~a iocurred in eonnection with said aomtructi~N pnot ee di~buran~ ot tris loao. It i~ fnFt6er asrstd tbu in t6c e~eat ~
sa;d cwbtruecioe is oot fuly eompkced oa or beEors t~e date ~ed la tbc Coa~tr~etioe Loaa or ia t~e e~eot [bac e6e wort aa
said oonwructioo s6sq aau bcfore full completiao ~nd ~ncr ce~atioo s6a11 ooo~inue tor • period ten (10) da7~, or if mbstandal eondnuo~r
Pra~res~ ~ball not be m~de in sucb coaurucaoo, t6en aad in ao~ ~ut~ e~ent t?e Mid a~repte ~uati priocipsl aod iotenst. aeatioaed in ~aid
promisory naq ~nd all monia ~aured herebr~ thall beoane due and pa~able fort6witb or t6srtaf~er at t6e optioa d said Mortpsee; and in
tbe e~eot of sucb ceaatao of work upon said comtratfoe for a pcriod ot teo (10) daJs, or if tu~nnrisl oootinuow prosrer ~6a11 eot be ~
made in sucb ooastruction. ~s afomaid. c6e Mortss~ce ma~ u its optloa enar inro and upoa tbe tnorts premaes sod oomplete said aoo• ~
uructioo io wc6 maaner sr it dcems ad~isablc withart ~o~ interference froes ttie Moet~a~or• tbc wd rered~ d~in~ ~nd p~otin~
eo tbe Mort~~ce full power and aut6orit~ to mate ~ut6 eatr~ iato aad upoo said ~eorts~id p~p~sa~ to enter Iao wc~ oootnce~ or ar-
raa~ernena n maT be oeeas~r~ ta complete uid oomtructioo~ snd 1n apead ~n~ monia ranain7o~ in uid "Loaa~ is Procws A~ooa~aP ~
ia addicioe an~ sums of inooeT aeceaary to canplete ~aid oonstrnctioo: ~nd anr ~d all moda espeaded b~ tk Mortp~ce in ca~nectioa
witb soeb oowpktioo oE co~atruction in ::eess of t6e monla in said "i.wa~ in Pwees Aaoouot" ~Aall be added eo t~s said priecipd debt aoa
s6a11 draw ioterest at tbe rate pro~ided in uid ptaaaot~ aote. and ~6a11 be secured b~ t6ir mortp~e. ~nd ~6a11 be p~~adk e~ t~t Mottsapr
on e~rnaad.
~~~i74 ~f~~i4Z