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S. 'il~at ia t6e cveot of a suit beia~ inuituted w forcclost thi• tno~tQa~e, t6e Mon~a~ee ~baU be eatitlcd to apply at aoy time duric~
such foredosure suit to the court havina jurisdictioa t6ereOf for t6e appoincmeac of a nrcire~ of at! and singulat the mortgaged pmpetty~ aad
of all reaH, iacome~, p~ofits, is~ua snd ~evenua tEereof, from «aaaoeve~ wurce derivcd; aad the~eupon it ia 6ereby expreuly coveoacted
aad agreed that tbe coun s6all foctAwith appoint •uch ~aeivet vcith the usual poMen and dutiq of raeiven. in tike cues; and said ap-
pointment ~hall be made by the court as s mstter of ttrict right to t6e Mo~~~aere~ aud ~+it6out refe~eace to t6c adequacy o~ inadequacr of tbt
value oE tbe pwpetty Sertby mort~aged~ or to the solventy or inwlveacy of tLc Monga~or or any other party defendaat to such ~uit. Tbe
MonQa~or 6e~eby specificall~• waives t6e rigbt to object to tbe appoiatment of a receiver ss aforesaid aod 6ereby r:presaly cu„~:a~s ~eat .ucb
appoiacment shall be made u aa sdmitted equitp •ad u a mattcr of abwlute riQ6t to the Mortga~ee and cLat t6e same m~y be do~e a~ithour
aotice to t6e I~Iort~a~or.
6. That it an7 procecdiaga sbould 6e iwtitutcd a~aiau t6e pmperty oorered by thi• monga~e upoa any ot6e~ lien or cla;m wbet~er
~uperior or junior to t6e tien of thit mortgaQe, the MortQsgee may at iti opcioa immcdiately upon iwtieution of such suit or durina tbe pend-
eocy tbereof declace thi~ rtqngaQe and t~ie ~ndebtedness ucured ~ereb~ due and payabie forthwitb and m~~ at ib option procced to foreclo~e
t6is aw~age.
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To pay all and siagular the eost; fea. cDarQa and ezpeu~q of every kind. iucluding the cost of an abstrsct of title to said laadt
found to be coovenieat o~ e:pedient in conaation with.anp suit fot t6e forecloauce of tbu mo~age. and alao iacludia& wLet6er t6e Mortgages
is obliQated to pay ~ame o~ ~t, reasoaable aaorney's fces incur~cd or e:pended at anr time by the Mortgagee because of t6e failurc of tbe
Mort~aQor rope rform~, comply wit6 aad abi~e by all or any of t6e corcnann, coaditioas and stipulations of uid promioory note. or t6ia
roortgage. in tLe foreclosure of this moctgage aad ia collatinc the amouot ~cured Senb~ with or wit6out legal ptoccediogs, aod to ~eim-
burse the Mort~agee for ever,y pa~•ment made or ineurred for sny suc6 ~urpoae with interat from date of every ~uc6 paymtot at t6e nte of f
teo pet tent (l096) per aoawa; sucL payments and obligadow, with iatecat thereon a aforaaid, sLall be tccu~ed by tbs lieu hereof.
t. To Iceep tbe buildia~ or buildiag~ now or 6creafter oa uid land insured a~aiott ioq or donage by li~e, ezteaded covetsge and `
ot6er puits. includiag war risk iasutance if avaitabie, ia a sum aot taa than tbei~ full imu~able v:lue tt t6e cost and e:peRSe of t6e Mort- }
gagor ia a eoropany or rnmpaaies approved by t6e Mortgageq tbe policr or po[icies ta be hcld by the Mortgagee, and suc6 policy or policia o!
insuraace ssall 6ave af~:ed thereto a Standard New 1'ork Mortgagee Clause, makiag all lo~s or lonsa unde~ such policr or policies pa~•abte eo
the Mortgagee u ita interest may appear, aad w ddiver said policy o~ poticia to tAe Mortgagee Nhen iuued wit6 the receipts fo~ the par-
ment of t6e premium t6erefor; aad in the event aoy sum of money becomes payable under such policy or policies~ t6e Mortgagee shail 5a~e
tLe option to meive and apply t6e stme oa aorouat of the indebtcdnes sccured hereby or to permit tEie Mortgagor ro receive and use it~ or aay
part thereof, for otbe~ purposea, acitYout thereby ~saiving or impaicing wy equity, lirn or rig6t undec or by virtue of t6i~ mortgage; tnd
the Mortgagee if it deems necessary may place aad pay for auch insurance, or any part t6ereof, ~ithout toaing~ waiviog or affe+eting MoK-
,gagee's option to fomloae for breacb of tbis covenant, or any part thcrcof, or sny rig6t or option under thia mortgage, aad e~ery sue6 par-
meat shall bea~ intcrat from date thereof until paid at t6e ~ate of ~ per crnt (1096) pe~ annwm, and all ~uc6 paymcab wit6 iaterat as
aforesaid s6all be secured by the lien hercoE. In the event any lo~ or dunage ii saffered Mortgsgs; sbsU Dotify Mortgagee of sucs lon or
damage ~eithin forty-eig6t (iE) laun after the happening t6eceof; the failure to give suc5 aotice ahall comtitute a default aad tbe Mo~a-
gee shaU 6ave t6e righa herein given for all defaults.
9. To pumit~ oommit or suffer oo wa~te and to maintain the i~npro~pawes at •11 tima in a state o~ g~ood apair :nd c~oodition; aad
ta do or permit to be done to ssid premiia nothing that will alter or change t6e we and ehancter of uid pmperty or in aay wa~ impair ot
weaten the securiry of said nwngage. In cue of t6e refwal, neglect or iaabiliqr of the Mortgagor to rcpair and maiotain ~aid propeety. tbe
Mongagee may~ at ia optioo, malce such repain or c:use the aune to be made and ad~ance monia in that behalf r6ic6 wm~ s~all be ~ecu~ed
by t6e lirn hereof and bear interat at t6e rate of tea per ccnt (1096) per annum.
10. To deliver thc abstract or abstrach of title ooreriog the mortgaged pwpatq to Mortgagee or its daignated ageat~ ~~6ich shall at
all tima~ during t6t life af this mongagq remain ia tLe pcnsession of tLe Mortgagee and io e~ent of the forcclo~ure of t6ir awrtgage or ot6er
~ramfer of title, all rigbt, title and interest of the Mortgagor ia aad to aay auch abstract oc abstr~cts of title shall pus to the purchase~ ot
~antee.
ll. 'That oo ~raiver of wy covenant herein or in tbe obli~ation aecured 6ereb~ sball at any time 6ereafter be 6eld tn be a Rairer o!
any of tDe ot6cr terma heroof or of :6e oote xcured Lereby. •
1Y. T6at io order m acceler:te tDe maturity of the indebtedneb hereby ueured betause of tLe failurc of the Mongagor to par aay tu
assaament. liability, obligatiea or encumbrance upon aaid property as herein pm•ided. it s6a11 na be accenar~ eor «qui~ite ~hat ~6e Mon~s~es
~hall fint pay t6e suae.
13. That if t6e Mortgagor shall fail. negtect or refuse for a period of t6irty (30j daya fully and promptly to pay t6e anoounb re-
quired to be paid by tbt not~ 6ereby setured or tDe interest therein specified or anr of t6e s~ms of raoney 6erein ~eferred to o~ berebr ~
cund. or otherwiu dul~. fulty and promptir to perfortn, ezceutq caaply wit6 snd abide by eub. ercry or anr of t6e rnrenaaa. coaditiow
or stipulatioas of t4is moctgsge, the pcomrswn• aate bereby tecured andlor the co~~tnution losn agreement, if any~ t6eo. and iu either or in
aar of such errnts, wit6out aotice or danand~ the said aggregate sum mmtioned ia said pranissory oote. lcss previa~n paymean. if anr~ and
anr and all suun mentioned 6erein or ucured hereby s6at1 become due and payabte forthwith or thercafter at the ountinuing optioo of tbe
Mort~sgee as fully and completely as if said aagregate sums were originallp stipulated to be paid at such timq anreh~ng ia said promi~soq
note or herein to the cont~ary aotwit6standio& aad t6e Mongagce ~6a11 be earided t6ereupon or t6ercafter witbout tatiee or demand to ia-
stitute :uit at la~c or in equity m eaforcr the rig6d of the Mortgsgee bereunder or under said promisaory oote, ta tse c~mt of anr default
or brcach oo the p~•? r.f ~he Mortgagor hereunder o~ uader said promisaoqr note, tLe Mortgagee shali 6are the contiauing option to enfoas ~
payramt of all sums secured hereby by uxioo at Jaw or by ~uit iaeq
wt~r to foreelwe this rm~agq eitLer or botb. caxurrcady or a6eraiie.
aad ooe action o~ suit ahall not sbate or be a bu M or waiver of tLe Mortgagee's rig6t to imtitute o~ maiot~in the other, provided said Mort- ~
=agee shall have only oae payment aad utisfactio~ of uid iadtbtednm. ~
14. That io t6e eveat that Mortgagor shall (1) oonsent to t6e appoinuneat of a recei~er. trustee or liquidator of ail or a subatantial
~uc of Morcgagor's a~ed~ or (2) be ad'ud~cased s bankrupt or in,ol.enq er Sie a.oluncary pendon io bankr~acr, or admit in writiag iu
inabilitY to pa~ iq debts as the~ baome ~ue, or (3) make a gmeral issi~rneat for the benefit of crediton. ot (4) file a petition or amwa
seeking reorganization or arrangement wit6 ercditon. or to take ad~aatage of ~r imot~eat~ lsw~ or (S) file an an~wer admittiog tbe ma-
teriai allegation~ of a petition filed agaimt tbe Mortgagor in aay bantrupecy~ reorganisation or in~ol~ency proceediag~ or (6) setioa a6a11 be
takeo by the Mortgagor for the purpwe of effectiog anr of t6e foregoin& or (7) any order~ jud~neat or decrec sbaq be entered upr?n an
apQlicarioa of a c~editor or Mongagor by t court of competcot jurisdietion appmvins a petition seeking appoinanrnt of a recei~er or trustee
of all or a aub~tantial part of tLe Mortgagor'a aasen and suc6 order, judgmeat or daree aball oontinue unstayed and in effect for aa~ period of
t6icty (30) consecua~e dty~ tLe Mortgagee may declan the notr 6enb~ sesurtd fortbwitb dut and payabtq whereupoa the principal of and
t6e interat accrued on t6e iwte and sll otAe~ sum~ 6erebr aecured shall beoome foct6with due aad pa~able as if all of the uid sums of matq
were origiaally stipulated to be paid oa sucL day; and thereupoo tLe MortQa~ee witbout notiee or demand may Pro~ecute ~ ~ui[ at !aw and/or
in equity~ as if all monies iecured hereby htd matured prior to ib in~titutioa.
IS. Thar t6e Mortgagre or any perwn autborised bl tLt Mortgaga ~hall 6a~e the rig6t to rnter upon and impect the mort~aecd
premises at all reasonable times.
16. 'That any sum or sums vi6ic6 mav be loaned or advanced by the Mortgagee to tbe Mortgagor at anq timt wit6io tm (10) ytan
fmm the date of thia indenture~ togaher with interat thereoo at tbe rate egreed npon at tbe time of suc6 ban or advance, shall be equall~ sc-
curcd witb and 6a~c the samc priority aa t6e origioal indebtedna~ and be iubjcet to all tbe tcrna and prorisiona of t6is mortgaee; prooided.
that the aggregate amouat of priacipal ouutanding at any time ~6a11 not ezcted ao uaouat equat to one 6undred and fift~ per teat (1S0%) of
t6e prencipal araount originally secured berebs.
--~2._T6at, if requirtd by Mongagee~ tbe said Mongagor wi1) pay ueto tLe Mortgasee~ on t6e ~rst dar of eac6 and every comauti~e
montb. a sum equal to one-t.cclic~ ofZL~amt ;-:lL~a:n._and..ase~men~t¢aimt the said mort¢aaed orani said
moathly sum to bc estimatcd sotety bq Mortgagee aed calculated to be sa amouat not la~ t6an tLe amoum of taxa »tesaed against ~a~ mort-
gaged premiscs for t6c previous yea~, and if further required by Mortgagct to pa~ aU insuranee premium~ in msnne~ and form at pro~ided
hercin Eor the pa~ment of ta:a aod auanments.
lE. T6at io the event t6e loan w6ic6 tLi~ mortgage is ~~rn to ~ecua is made for the pu~rpae of Fnancing atber t6e constructioo
of oew buildiaga or t6e con~traction of improvemcnn aad/or addiaons to esisting buiWingi. tLe MortQa~r, if ceqwred by tbe Mortgasee,
ezpressly agrea to deposit with the Mortgagee or ib daig~ated agent aa anwunt of mone~ equal to tDe differeoee betwem the net proceeds
of the toan and t6e total amouot~ a~ determincd bT the Mortgagre~ reqaired to full~ eoaaplete aaid ooostnrctiou in utordance with tbe plan~
and speeificationa heretofore submiaed br the Mortgagor and appro~ed by ths Mort~a~ee. Said amount of mone~ sball be placed br t6e
Mortgagce io a"Loana in Proccs Acrnuat" in the name of the Mongagor~ and t6e »me shali be used br t6e Mortgagee to par tbe oosp.
c6arges aad espenses incurred in connection vsith uid constructioo prior to ditbuniu~ ot this loan. It is furt6er agreed t6u in the e~eat
said construction is not fully compleced on or beforc the due sntcd i~ t6e Constmctioa Loan Agreement or in the e~ent t6at t6e work on ;
said conuruction shalf cease before fuH complrtioa aad ~uc6 casaaoe iball tontinue for a period of ttn (10) day~ or-if sub~tantial oootin~a» #
progress ~6a11 aot be made in sucL constroction, t6rn and io an~ sut6 e~eot tLe taid a~egate sum, pnocipal and interat~ mentio~td in said ~
promisaory note, aad all monia secured hereby. s6al[ become due and payabie fort6wit6 or t6eroafter. at t6e optioa of ~aid Mortgagee; and in ~
the ermt of sucb ees~ation of work upon said rnastruction for a Deriod of tm (10) daqs~ o~ if substaatial oontinuow progre~a sDall not be
made in suc6 construction, as aforeuid. the Mortgaga wa~ at in option enter into and upon t6e mortgaged premi~a and compfete said con- ;
structioa in such manner ss it detms advis:ble wit6out anr iaterference fran tbt bSartgsgut; tbe said Mortgagvr hereh~ gi~ing and grantfns :
to tbe Mortgagee full power and autbority to make such eatr~ into and upoo uid mortgaged premius, to enter iato such wntrut~ or ar- `
rangemenn as may be naes~ary to complae sa;d oonstructioo, and to apend in~ nania remaiaiog in said "Loans in Procas Aeoouat" snd ;
ia addition any aums of money naesssry to eomplete •aid oonatruetion; and an~ and all monia e:peoded by the Mortgager in conneeBon ~
with such complaion of corotruction in t:cas of tbe monia in ~aid "I,oans in Prxeas AccounP' s6a11 be added to t6e ~aid prineipat de6t aad ;
n~demanA. ~nterat at t6e rste prorided in said promiiwry note, and ahsll be secured by tbis mortgage, and t6:11 be psyable by the Mort~a~,or ~
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