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BBOITaL ~
The Mortgagor is the owner of the premises deacribed in Schednle
A hereto. The Mortgagor proposes to erect snbstantiai imprnvementa
on said premises and, in order to finance the constrnction thereof, will
borrow the Mortgage Amount from the Mortgagee pnrsnant to a
~ building loan agreement between them dated the date hereof and has
egecnted and delivered to the ~ortgagee its note, dated the date hereof,
obligating it to pay the Mortgage Amonnt, or ao mnch thereof as may
be advanced in secordance with the terms of said bnilding loan agree-
menk The said bnild.ing loan ag?reement and the said note, together
with any modifications or amendments thereof, are hereinafter referred
to as the Bnilding Loan Agreemeut and the Note.
Css~raix Dsr~xrrioxe
The Mortgagor and the Mortgagee agree that, nnless the conteat
otherwise specifies or requires the following terms shall have the mean-
ings Lerein specified, snch definitions to be applicable eqnally to the
singnlar and tLe plnral forms of snch terms.
~ "Chattels" means all fixtnres, fittings, appliances, apparatas,
~ eqnipment, machinery and articlea of personal pmperty and replace-
menta thereof, other than those owned by leasees, now or at any time
hereafter a~ed to, attached to, placed npon, or nsed in any way in
connection with the complete and eomfortable nse, en,joyment, occn-
pancy or operation of the Improvements on the Premises.
"Constrnction Period" meana the period from the date hereof to ;
the Completion Date as that term is deSned in the Bnilding Loan :
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Agreemen~
"Events of Defanlt" means the events and circumstancea desctribed
as anch in Section 2.01 hereof.
~ "GFuarantor" means the party or parties identified as snch in tbe
Bnilding Loan Agreemen~
~ "Improvementa" means the atrnetnres or bnildinge, and replace-
ments thereof, to be erected upon the Premisea bp the biortgagor, in-
clnding all plant equipmevt, upparatus, machinery and fiztnreR of every
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