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2. To permil, commit or +ufler oo ~vaste snd ~o main~ain ~he impro~~menn at sll time+ in a stat~ of ~wx1 repair ~rd cundiiion; and ~
do or permit to be done to said premise~ nut~ing tha~ ~.ill alur or change the u+e and characlcr of ~aid property or in am ~~a. impa~r ur •
Neaken ~he ~acurily of this mort~age. And in case o! ~he re(usal, n~glcct or inability ot the (~tort~a~or tu repair and maincain ~aiJ {~rope~t~.
the Plortgsgee ma~•, at its op~ion, make such rcpairs or cause Ihe same to bt maJe and ad~ snce moneys in ~I?a1 hehal(.
l. To pay all aod singular the ta:es, axsesimeots, le~•ies, IiaAilitits, and obligations of ~~~e~y oature un said deurihed proper~y
each and every ~vhen due and psyable sccording to law, before they Ixcome delinyuent, and to deli~er to the Atortgagee o0 0~ be(ure hlarcA
IScA of escA year t~a receipts e~•idtncin~ ~he paymeot of all law(ully imposed ts:e~ (o~ ~he preccdin~ calendar ~•ear; to indemoify ~he :?tort-
seee upon its demand fur all taze~, assessmeau aad charges that mar be asus~ed upon Ihir mo?tgase on ~he indebudne» .ecured h~rcb~,
snd paid by the I?lortgagee, ~ithout rcgard to any !aw heretofore enactcd or hereafter ~o bc enacted impo~ing paymcn~ ot ~h~ whol~ or
aey part thec~of upon the l?1urt~agee.
It i~ further co~enanted and a`?eed br ~aid partie~ that in the event of a auit being instituted to foreclose thi~ mortga~e: the
Atort~a~ee ahall t+e entitled to apply at aoy timc pcndin~ such foreclosure suit to the court Aa~•ing juriadiction ~herto( (or the appointment
of a taeivet of all aod singular tht mottga`ed property, and of all rents, incomes. profits, issues and revenues thereof, (rom whal~oever
~ource derived; and ~hereupon it is Ae~eby eip~cssly covenanted and agreed that the court shall forthwith sppoint ~uch receiver with thc
uaual powe~~ aad duties of tcceivers io likt tases; and said appointmcnt shall ~e made by the court as a maltcr of strict tight to the I~1or~-
gagee, aod without rcfereoct to tAe adequaty or inadequac~ of the valuc of the property hereby mortgagcd. or to the ~ol~eney or inwlvencr
of tAe Mort~a~ors or any otAer party defendant to suct~ auit. The Mortgagor hercby specifically v~aives the right to object to ~he appointmeot ;
of a recei~cr a~ aforesaid and hereby e:pres~ly rnnscnts that sucA appointment shall bc made as an admittcd equity and as a matter of `
abwlute riQht to the Mortgagee and that the ~~me may be done witAout notice to tAe Mortgagor.
S. To pay all and singular the rnsts, chargcs and e:peases, includiog attoraey's feea aad abstract co~a, reawaablr iocurred or paid
u aay time b~• the ~tortgagee becau~e of the failure of thc Mortgagor to perform, comply with, and abide br each and every the stipulatioa~,
ag~eements. rnnditiona, aad rn~enaats of said p~omiawrr oote aad of this mortsate. or tither.
6. That the Mortgagor will keep all real and perwaal propertr now or hereafter eacumbe~ed br the liea of thi: mortgage iasured
as may !u rcquired from time to time by the Mortgaget againat losa ~y 6re, wiadstorm aad other Aasards, casualties aad coatingcacics Eor
•uci~ Qeriod~ and for aot less thaa such amounts as may be required br the Mort~a`ee and to pay promptlr when due al) premiums for such
iasurance_ The amounts of iasuraace required by the Mortgagee shaU be the minimum amouate for wAich •aid insuraace sAal) be writtcn
•nd it shall be incumbcat upon the Mortga`or to maiotain such additiood in~utance as may be neeessarr to meet and comply Iully with
all rn-insurance reQuiremeats rnatained io ~aid politir~ to the end that ~aid 211ortgag~or ia not a eo-ia~uror tAereundcr. laaurance shall be
written hy a rnmpaay or companies approved or desigoated by the Mortgagee and all polieies snd reoewals thereof shall be held br the Mort-
Qaget. All detailed designation~ by the Mortgagor which are accepted br tAe Mortgaece and all agrcements betvreea Mortgagor and Mort-
agee retatiag to insuraace, now e:iatia~ or hereake~ made, shall be ia ~riting aad shall be a part of thi~ mortgsge agrerment as fully a•
thous6 ut forth verbatim hereio aad ahall 6overn both parties hereto and their sucreawr~ aad a~signa. No lien upoa aay of said polities of
ineurante or upon aap refund or returo premium whieA may bt pagable oo the eanccllatioo or termination thereof, ~hall be given to other
than the Mortgagee, e:cept b~ proper tadorsemeot ai=ed to such polit7~ and approved by Mortgagee. Each policy of insurance shall have
aAiaed thereto a Standard New York MortQa~ee Claux wit6out Contribution, makiag ali bss or losses uoder sucA policy payable to the Mort-
gagee ss its intetest may appear. In the eveat •nr sum ot ~ums of rsaoey becomt payable thereunder the Mortgager shall have the option ~
co receive aad •ppl~ the •ame oo aceouot oE the iodebtedeess 6erebY ~eeured. or to permit the Mortgaao~ to receive and use it, or any psrt
thereof, vrithout therebr waiving or impairing any equiry. lieo or right under and by virtue of this mortgage. In eveat of losa or phraical ~
damage to tAe mortgaged property the Mottgagor shall ~i~e immediate notice thereof b7r mail to the Mortgagce and the Ator~gagee may mate
proof of loaa if the aame is not made praoptl~ by tAe Mortgagot. lo ertot of forecloaure of this mortgage or other transfer of title to the
mortgsged property in e:tinguishmeat of t6e indebtednesa secured hercby, all right, title and iaterest of tht Mortgagor in and to any insur-
ante polieics tAen io foree sAall pass to the purchaser or grantee.
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7. The MortgaRee mar: at its optioo, aod without wai~•iag in ris6t to aecelerate the indebtednc~~ hereby sccuted aod to foreclose ~
the same, pay cither before or aiter detinqueaey any or al! of thox eertaia obligatioas required br the terms hereof to be paid by the lllort-
gagor for the protection of the mort~age seeuritr or for t6e rnllettion of the indebtedoeas herebr secured. All aums w ad~anced or paid by ~
the Atortgager shall be charged into the mortga6e aeeount aad become an integral part thereof, subjcet in all respetts to the terms, condi-
ti~~n+, and co~•enants of tAt afore~aid promiswrv note, aod this mortgage, as fully and to the same e:teat a• though a part of the original
indebtedne!~ e~•ide~ted br said r?ote and secured br this mortgage, e:ceptiag, however, that said sums shall be repaid the 1?lortgagte forth-
~rith upon its dtmand and be in addition to tbe re~ular monthlr installmenb providcd b~ the mortg~ge oote.
E. That the abstraet or abstraeta of tide covering the mortgaged propertr shall at sll times, duriag the life of this mortgage, remaia
in the po~scasion of the Mortgagee and io event of the foreclo~ure of this mortgage or other tran~fer of title to the mortgaged propertr in
eitingui.hment of the indebtedaess ucured ~ereb~, all ria!?t, title and ioterest of the Mortgagor in aod to any such absiracts of title shall paas
to the purchaser or graotte. ?
9. That no wai~cr of aay rnvenant hereio or of the obligation seeured hereby shall at any time hereafter be held to be a wai~~er ;
of ~he terms hereof or of the aote secured herebr
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; 10. That in order to accelerste the maturity of the iadcbtednees hereby sec~red betause of the failure oE the 4tortgagor to pay aay +
r ta: a..e.~ment, Iiability, obligation ot tncumbraoce upoa aaid propertr as 6eteia provided, it shall aot be neeessary nor requisite that the
~ I?tortgagee shall fint pay the sama ~
3 t 1. To the e:tent of the iadebtedness oE the Mort~agor to the Mortgs~ee dtseribed hereia or secured herebr, the Mortgaget i• herebr ~
~ .ubrog:tcd to thc licn or (iens snd to the rights of the owners aad 6olders thereof of eaeA and every mortgagt, lieo or other incum~rance g
x un the land dexribed herein ~rhich is paid aod/or ~atis6ed, in whole or in part, out of the proeeeds of tht loao dexribed herein or seeuted
~ herchr, and the respective liens of said mortgages, liena or other ieeumbraaees, shall be and the same aod each of them hertby is prexr~cd, ~
~ and .hall pass to aod tx hcld br the Nortgaaee hertin as seeurity for the indebtedoess to the Mortgagee hereio deseribed or herebr secured,
~ ~o ~he ~ame e:tent that it would have been preserved aod would hare bren pasxd to and been held by the Mortgagee had it been dalr sod :
Y regularlr a••igned, transferred, set over, and delivered unto the Nlortgagte br aeparate deed of asaignmmt, notwithstandi~g the faa t6at
~ ~h~ .ame may he satiatied snd eaneelled of reeord, it being the iatention of the parties hereto that the same vtill bt aati~fied and cancelled
~ of rccord b~ the holdcrs thereof at or about the time of the rernrding of this mortgage.
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~ 12. I( any of the sums of moner herein referred to be aot promptly and fully paid within thirtv (30) days next after the same se~~er-
=3 slh come du~ and payabte, or if cach a~d e~•ery 1he stipulatioas, agreemeots, eonditiom and eoeeoaats of said promiswry note and this mort-
K~Re or either, arc not duly performed, eomplicd with and abided by, the aggregate ~um mentioaed in said promiswry note or otherwise
~ -~curcd herei.~ .hall Aernme due and payablc forthwith or therea(ter at tht option of the ~iortgagee as full~ and rnmpletelr as if s~id aggre-
r~ Kstc .um of moner wss originally stipulated to t~e paid on such day, anythieg in said promiswry note or Aereia to the contrary notwithsunding.
' 13 The ~tortqaqor, its succeswrs or a~si~ns, is lo eomplr with the terme and eonditions of a eonstruction loan ~qreemeot t+ctwetn thr
r: ~tor~RaRor and the ~1ortRaRe~, an c:ccuttd eopy of which is in th~ possession of ~he Mortgagee and said construction loan agreement i.
- hereby incorporated hercin hy reference and made a part hereof, and any default by 111ortgsgor under said rnnstruction loan agreement
slhll Ix considered an e~ent of default under this mortgage.
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1~. It is hereby exprea•ly aRreed that the :11ortRaRee, its successon and a~.iKna Nill release (rom the licn of thi~ mortgsge am~ o( ~he
lot. d~•crihrd herein upon Nhich ~here has bern con~tructed a building upon the pacment h~• the AlortgaRor to the ~iortgagee of auch sums a•
hs~•e txen ad~~anced by the Alortgagee on the lot or lots to be ~eleased, toKcther wi~h accrued intere~t, pro~ided that the Rtortgagor, it.
~ ~ucce,wro or assign~ ar~ not in detault under any of the term. or conditions of rhis mortgage or any obligstiun or liabili~Y secured herab~~,
= and ha~c fully complied ~+ith the terme and conJitions of the Comtruction I.uan ARr~cmenl tKtween the !11urtRagor snd the :~tortR~R«-
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