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above described property. This mortgage is sub~ect to
the terms, provisions and conditions of that c~rtain Loan
Agreement of even date herewith, entered into between
the Mortgagirs and the Mortgagee herein, and said Loan
Agreement is by reference incorporated herein and made
a part hereof. Anv default under the terms and conditions
of said Loan Agreement shall be deemed a default hereunder,
Said Loan Agreement is available for inspection by al~ ~
parties interested at the office of the Mortgagee herein.
17. Notwithstanding anything in this Mortgage and
the Note secured hereby to the contrary, it is further agreed by
- the Mortgagor that in the event the b~ildings and improvements to
be erected on the premises hereby mortgaged are not completed
in accordance with plans and specifications submitted to the
Mortgagee herein, on or before maturity, or that work on said
construction shall cease before completion and said work
shall remain abandoned for a period of fifteen days, except in the
event of strikes, acts of God, or other unusual causes reasonably
I' beyond the control of the Mortgagor, or, if at any time it
i
~ appears in the sole judgment of the Martgagee that the moneys
i
~ available from the undisbursed portion of the construction funds
~ are insufficient to pay all expenses that have been and wili be .
~
~ incurred in the completion of said buildings and improvements,
s
and the Borrower shall fail to pay to the MQrtgagee within ten
(10) days after written demand therefor, such additional sums
as said Mortgagee shall have estimated will be required to pay
~
~ the expenses of the completion of said buildings and improvements,
~ then and in any of such events, the entire principal sum that
has been disbursed on acGOUnt of the Note secured by this Mortgage,
~ less any amounts that may have been repaid by the Mortgagors,
~
~
~ shall at the option of the Mortgagee at once become due and pay-
able with all accrued interest thereon at the rate provided in said
~
~
~ Note; and in the event of abandonment of work on the construction
~
~ of said buildings or improvements for a petiiod of fifteen (15)
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