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3. This Mortgage and the Note were executed and delivered
to secure moneys advanced in ftiill to the Mortgagor by the Mortgagee ~
as or on account of a loan evidenced bq the Note, for the purpoee -
oY making the improvements deecribed or referred to in the •
61ork ~rrite-up and bi,d sheet ' dated
J r~r 27. , 19 69 , to or on the mortgaged pro-
r
perty, and fo~'`•suoh other purpoee, i~ a~q, desaribed or refprred to
therein, whicb improvementa are hereinafter collectively called
~~Improvements". The Mortgagor ahall make or cauae to be made all
the Improvements. If the construction or installation of the Im-
provementa ahall not be carried out with reasonable diligence, or
shall be diacontinued at any time for any reason, other than etrikee,
lock-outs, acts of God, firea, floods or other eimilar cataatrophiee,
riots, war or insurrection, the Mor~gagee after due notice to,the ~
Mortgagor ia hereby suthorized (a) to enter upon the mortgaged pro-
perty and employ any watchmen to proteot the Improvementa from
depredation or in3ury and to ~reserve and protect su~h property,
(b) to carry out any or all then existing contracta between the
Mortgagor and other partiea for the purpose of making any of tbe
Improvements, (c) to~make and enter into additional contracte and
incur obligatione for the purpoaes of completing the Improvements
purauant to the obligations of the Mortgagor hereunder, either in
the name of the Mortgagee or the Mortgagor, and (d) to pay and dia-
charge all debts, obligations and liabilitiea 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
~ from the date of each such payment, at the rate o~ three percent
~ ~(396) per annum~, shall be pa.yable by the Mortgagor to the Mortgagee
on demand and ahall be secured by this Mortgage.
4. No building or other structure or improvement, fixture or ,
personal property mortgaged hereby ehall be removed or demolished
without the prior written consent-of the Mortgagee. The Mortgagor
wi11F not make, permit or suffer any alteration of or addition to ~
any building or other structure~or improvement now or which may
hereafter be erected or in9talled upon the mortgaged property, or
any part thereof, except the improvemerite required to be made pur- .
suant to Paragraph 3 hereof, nor will the Mortgagor use, or permit
or suffer the use of, any of the mortgaged property Yor any purpoae
other than the purpoae or purposea for which the eame is now intended
to be used, without the prior written conaent oP the Mortgagee. The
Mortgagor will maintain the murtgaged property in good condition and
state of repair and will not suffer or permit any waste to any part
thereof, and will promptly comply with all the requirementa ot Fed- -
i
eral, atate and local goverrimenta, or of any departmenta, diviaione
or bureaue thereof, pertaining to such property or any part thereqY. .
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