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~tissiened to the Mortgagee and are deemec a part of the property martgaged
~:ereby, and the Mortgagee is hereby authorized to collect and receive the
aroceeds of such awards, to give proper receipts and acquittances~therefor,
and to ag~ly the sa.me toward the payment of the indebtedness secured by
~:~is Mortgage, notwithstanding t~e fact that the amount owing thereon may
not then be due and payable; and the Mortgagor hereby agrees, upon request,
~o make, execute and deliver any and all assignments and other instruments.
~~ificient for the purpose of assigning each such award to the Mortgagee,
~ree, clear and discharged of any encumbrances af any kind or nature
~~::~atsoever; and
TOGETHER with all right, title and interest of tre Mortgagor in and to
i:~e land lying in the streets and roads in front of and adjoining the above
uescribed land (all the above described land, buildings, other structures,
~';xtures, articles of personal property, awards and other ~rights and in-
~erests being hereinafter collectively called the "mortgaged property").
TO HAVE AND TO HOLD the mortgaged property and every part thereof unto
~ne ~tortgagze, its successors and assigr,s forever for the purposes and uses
:erein set forth.
AND the l~:ortgagor further covenants and agrees with the Mortgagee,_as
~3ilows:
1. The Mortgagor will promptly pay the principal of and interes~ on
~ae indebtedness evidenced by the Note, and all other charges~and indebted-
::ess nrovided therein and in this Mortgage, at the times and in the manner
:,rovided in ~ne Note and in this Mortgage.
2.. The Nortgagor will pay when due, as hereinafter provided, all
! Vround rents, if any, and all taxes, assessments, water rates and other
~ ~overnmen~al charges, fines and impositions, of every kind and nature
;r:~atsoever, now or hereafter imposed on the mortgaged property, or any part
~~ereof, a~a will pay when due every amount of indebtedness secured by any -
~~en to which the lien of this Mortgage is expressly subject. ~
3. T'nis ylortgage and the Idote were executed and delivered to secure
:oneys advanced in full to the Mortgagor by the Mortgagee as or on account
a loan evidenced by the Note, for the purpose of making the improve-
~ents descri~ed or referred to in the Final Work~Write-IIps and Cost Estimetes
and Final Bid 3heets dated Marc6 ~12 , 19 7~ , to or on tY~e mort-
~aged property, and for such other purpose, if any, described or referred
therein, which iraprovements are hereinaf~er collectively called "Im-
~rovemen~s". ihe Mortgagor shall make or cause to be made all the~Im-
-;rovement~. If the construction or installation o~ the Improvements shall
be carried out with reasonable diligence, or shall be discontinued at
-t~~e for a~y reason, other than strikes, lock-outs, acts of God, fires,
~=o~as or o~Y:er similar catastrophies, riots, war or insurrection, the _
:~::,rtgaoee.after due notice to the Mortgagor is hereby authorized (a) to
::Y~ter ~:pan the nortgaged property and employ any watchmen to protect the
~_~~rove~ents fron depredation or injury and to preserve and protect sucn
~:~operty, (b) to carry out any or all tY:en existing contracts between the
:•:ortgagor and otaer parties for the purpose of making any of the Improvements,
BooK 1~5 PAGE 2~7
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