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This Mortgage and the Note were executed and delivergd
tio secure moneya advanced in full to the Mortgagor by the Martgagee
as or on account of a loan evidenced by the Note, for the purpose _
of making the improvements described or referred to in the
dated
, 19 , to or on the mortgaged pro-
perty, and for such other purp~se, if any, described or referred to
therein, which improvementa are hereinafter collectively called
~~Improvements". The Mort~agor ahall make or cause to be made all
the Improvements. If the construction or inatallation of the Im-
provements shall not be carried out with reasonable diligence, or
shall be discontinued at any time for any reason., other than strikes,
loc~-outs, acts of God, fires, fioods or other similar catastroFhies, .
riots, war or insurrection, the Mor~gagee after due notice to the ~
Mortgagor is hereby authorized (a) to enter upon the mortgaged pr~-
perty and employ any watchmen to protect the Improvements from
depredation or injury and to preserve and protect such property,
(b) to carry out any or all then exi$ting contracts between the
Mortgagor and ~ther parties for the purpose of making any of the
Improvements, tc) to make and enter into additional cantracts and
incur obliga~ions for the purposes of completing the Improvements
pursuant to the obligations o~ the Mortgagor hereunder, either i:
the name of the Mortgagee or the Mortgagor, and (d) to pay and dis-
charge all debts, obligations and liabilities incurred by reason •
of any action taken by the Mortgagee as provided in this Paragraph,
all of which amounts so paid by the Mortgagee, with interest thereon
f from the date of each such payment, at the rate of three percent
~ ~3~) per annum, shall be payable by the Mortgagor to the Mortgagee -
on demaad and shall be secured by this Mortgage. •
~ 4. No building or other structure or improvement, fixture or
personal property mortgaged hereby shall be removed or demolished _
without the prior written consent of the Mortgagee. The Mortgagor
will not make, permit or suffer an~ alteration of or addition to .
any building or other structure or improvement now or which may
hereafter be erected or installes upon the mortgaged property, or
any part thereof,-.except the improvements required to be made pur-
suant to Paragraph 3 hereof, nor will the Mortgagor use, or permit .
or suffer the use of, ang of the mortgaged property for any purpose
~ other than tr.e purpose or purposes for which the same is ~ow intended
to b.e ixsed, without the prior written consent of the Mortgagee. The
Mortgagor will ma.intain the mortgaged property in good condition and
state ~f repair and will not suf_'er or permit any waste to any part
thereo_, and -:i11 promptly complJ with all the requirements of Fed-
eral, ;;,ate u:~d local governments, or of any departments, divisi:.
or bureaus thereof, pertaining tc suc: ~roperty or any pa~~ there~~.
~~~74 ~~I~Si~
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