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3. This Mortgage and the Note were execute~. and de~.ivered
to secure mcr~eys advanced in f1i11 to the Mortgago-r by ~he Mortgagee
as or on account of a loan evidenced by tbe Note, for the purpose
of making tr,e improvements described or referred to in the
WORg WRITE-IIP ~ ~ dated
re
July 25. 1~,~8 , 19_,~,_8 , to or a-bn the mortgaged pro-
perty, and for such other purpose, if any, described or referred to
therein, which improvements are her~inafter collectively called
'~Improvements'~. The Mortgagor ahall make or cause to be made all
the Improvements. If the co~struction or installation 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,
lock-outa, acts of God, fires, f~oods or other simi?ar catastrophies, .
riots, war cr insurrection, the Mortgagee after due notice to the '
Mortgagor is hereby authorized (a) to enter upon the mortgaged pro-
perty and employ anq watchmen to protect the Improvements from
depredation or injury and to preserve and protect such property,
(b) to carry out any or all than existing contracts betwzen the
Mortgagor and other parties Yor the purpose of making any o~ the ~
Improvements, (c) to make and enter into additional contracts and
incur obligations for the purposes of completing the Improvements
pursuant to the obligations of the Mortgagor hereunder, either in
the name of ;~e Mortgagee or the Mortgagor, and (d) to pay and dis-
charge all aEb:.s, obligations and liabilities incurred -~y reason •
of any actio~ ;.aken by the Mortgagee as provided in thi.: Paragraph,
all~of which amounts so paid by the 1Kortgagee, with interest thereon
from t'r_e date of each such payment, at the rate of three percent
(39~) per annum, shall be payable by the Mortgagor to the Mortgagee •
~ on demand and shall be secured by this Mortgage.
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~ 4. No building or other structure or improvement, fixture or
personal propertiy mortgaged hereoy sha11 be removed or demolished . .
withoL- the prior written consent of the Mortgagee. The Mortgagor
will ~~t make, permit or suffer any a+teration of or addition to .
any building or other structure or improvement now or w':~ch may
hereafter be erected or installe3 upon the mortgaged prcperty, or
any part there~f, except the improvements required to be made pur-
suant to Par~.graph 3 hereof, nor will t~.e Mortgagor use, or permit
or suffer the ~.zse of, any of the mortgaged property for any purpose
~ other tr,an the purpose or purpoaes for which the same is now intended
to be u~sed, without the prior wr:tten consent of the Mortgagee. The ,
Mortgagor will maintain the mortgaged property in good condition and
state o~ repair and will not suf~er cr permit any waste to any part
there:,~, and will pro~ptly compl;r with all the requirements of Fed-
eral, state and local governmente, or of any department~; dfvisions
or bareaus t'n~-~~eof, pertaining ~o sucY: ~roperty or any _ 3~t ther~o~.
~~1~5 ~~19?
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