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2. To permit, commii or suBer ~o waste and tn maintain the impro~~~ment: at all times in a+tate of eood repair ar.d condi~io~; and ~u
do or permit to Le done to ~aid premises nothing tAat ~~ill slter or cAanee the use snd cAaracter of ~aid prupe~ty or in am ~~s~ impair or
Meaken the securi~y of tAis mortgagc. And ia case of the ~efusal, aeglect or inabiti~y o( thc Ato~teseor to ~cpair aod main~sin .aid prupert~,
~Ae Alortgagec may, at its option, make such rc~ai~s or cause ~he +ame to br made, and sd~•ance moneya io ~hat bchalf.
l. To pay all and singular the ta:es, assessments, levies, liabilities, and obiigation• of ~rery nature on said de~cribed property
each snd every when due aod payaDle according to law, bcfore the~ bernme delioquent, snd to deli~e? to the Mottgsgee on or bcfa~e AtarcA
ISth of eacA year a~ receipts e~•ideocing tAe payment of sll lavrfully imposed tues for the prceeding caleada? yeu: tn indemaify the :~tort-
agee upon its demsnd for all ta:es, as~essmeaa and char~cs ~hat may De aases~cd upoa this mortgaQe oa the indebtedness ~ecu~ed hc~eAy, ~
and paid by tAe Mortgagec, without rcgard to any law heretofore enacted or hercafter to be enacted imposing pa~~meat of ~he whole or
any pa~t ~hereof upon the Mortgsget.
It is (urther covenanted aad ssreed br said partiea that ia the evcat of a suit bei~g ia~~ituted to foreclou this mortgaee, the .
!?fortQsgee shall Ae entidcd to apply at aoy time pending such foreclo~urt suit to the toort haviag juriadiction thereof for tAe appointme~t "
of ~ receiver of all aod eingular the mortga`ed propertr, and of all rtats, incomes. pro6ts, issue~ and revenue~ thereof, f~om whatsoever ~
source derived; and thereupon it is hereby e:pres~lr eoveoantcd and agreed that the rnurt shall for~hvrith appoiat such receiver witD the E
usual powets aad duties of receiven ia likt tases; and said appointment shall be made by the rnurt as a matter of stricl right to th~ N1ort-
ga~ee, aad without refereace to the adequaey or inadequacy of the value of the property hereby mortgaged, or to the solveney or insolvency
of the Mortgagon or aay otAer party defeadant to suel? ~uit. The Mortgagor herebr speci6callr waires the right to objeet to the appointment '
of a receiver ss aforesaid and herebr e:pre~sly ooosena that such sppoincmeat shall bt made as ao admitted equity aad ss a matter of
abwlute right to 1he Mortgagee and that tht aame may be dont without notice to the Mortgagor.
S. To pay all and singular the rnsts, ehsrges aad e:peaus, includiog attoraeY's fees aad abstraet costs, reasoaablr incurred or paid
at any time br the Mortgagee bccause of tAe failure of the Mortga~or to perform, eompl~ with, and abide by each and every the stipulatioos. ;
asreements, conditions, aod coveaaon of said promiswry oote aod of this mort`ase. or either.
6. That the I~tortgagor will keep all ~eal aod perwoal propert~ aow or hereaher encumbered by the liea of thi: mortgage ia~urrd
aa may be required from time to time by the Mortgagee a~aiost loas by 6re, wiad~torm aad otber haza~da, tasualties and oontinesacic~ Eor
sucA perioda aod for aot less tAaa aueh areouaa as mar be required br the Mort~a`te and to pap pranptlr v?hen due all premiums for such
in~uranee. The amouon of in~uraace required br the Mongatee ahall be the minimwn amo~ats for wAic6 said insurance ~hall be written
and it shall be incumbcat upon the Mortga~or to maintain ~ueh sdditional iaaurance aa may be neees~ary to meet and eomply fully with
all co-inauranee requircmtaa rnntaiaed in aaid polieies to the cod that said btortgagor is aot a eo-insuror tAertunder. losurance shall be
written by a companr or rnmpaaies apprortd or desi~aatcd br the Mortgagee and all politie~ and renewal~ thereof ~hall be held b~ the Mort-
~a~ee. All deailed dc~igaatioas by the Mort~a~or whieh are attepted br the Mortgagce and all a~recmena Aeevreea Morcgagor and Morc- s
sgee relating to insuraoce, now e:i~tint or hereafter made, sAall be in v~ritiag and ahall be a part of tAis mortgage agreement aa fully as
though ~et forth verbatim herein snd a6a11 go~ern bot6 parties hereto and their succe~wn aod as~igas. No licn upoo any of said potieies of
inauraace or upon aay refuod or retura premium whid? mar be payable oo tht caatellation or termiaatioa thcreof, ahall be givcn to other
than tAe Mo~tgagee, e=ccpt br proper eodorsement a6ued to auch polier and approred by Mortgagce. E:ch policy of iaaurance shall have ~
aRi:ed thereto s Staadard New York Mortgagee Claust without Contribution, making all loss or losses uader auch poliq payable to tAe Mort-
gagee as its intere~t may appear. In the eveot apy sum or fums of moner berome pa~able thercunder the Mortgagee ~hall ha~•c the option ~
to reeeive aad apply the same oo aecouat of the iadeMcdue~s herebr seeured, or to permit the Mortgagor to rcceive aad use it, or anr part ~
thereof, without tbereby wair•iog or impairing any equity, lien or riQl?t uader and b~ virtue of t6ia mortgage. Io event of loss or phrsical f
damage to the mortgaged property the Mortga6or shsl: sivt immediate notice thereof br mail to the Mortgagee and the I?lortgagee may mste ~ ~
proof of lo~s if tde same is not made promptlr by the Mortgagor. lo eveot of foreclosure of this mortgage or other tranafer of title to the ~
mortgsged properry in e:tinguishment of the iodebtedness sceurcd hereby, afl right. title and iaterest of the Mortgagor i~ and to aoy ia~ur- ~
ance policiea then in force shall pass to the purchaser or graatce.
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7. The Mortgagee may, at ia option. aad wit6out ~+aiving ib rigfit to accelerate the indebtedae~~ hereby accurcd and to foreclose
the same, par either AeEore or• after delinqueocy any or all of tho~e eertaia obligatioos required by the term~ hereof to be paid by the lllort-
gagor for the protfttioA of'the mortgage ~eeuritr or for t6t oolleetion of the iadebtedoeas hereby secured. All aum~ w advanced or paid br
, the I~iortgagee shall be charged into the mortgate aooount and become an integral part thertof, subjeet in al) respects to the terms, rnndi- ~
~ tions, and rn~•enana of the aforc~aid promissorv note, and this mortgage. aa fullr and to the aame e:tent as tbough a part of tfie original
I indebtedness evideaced by aaid oote and seeured by t6is mortgagt, e:cepting, however, that •aid sum~ ~hall be repaid the Mortgagee forth-
I with upon ite demand and be in addition to the regulu aaathlr in~allments providcd by the mortgage aote.
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' i. That the abstraet or abstracb of title eovering the reortgaged property shall at all time~, during t6e life of tAis mortgage, remaio
~ in the po.session of the blortgagee sad in eveat of the foreclosure of this mortgage or other tran~fer of title to the mortgaged property ia
j eztingui~hment of tht indebtedqe~s setured herebr, all right, title and interest of th~Mortgagor in aad to aoy such abstraa~ of title ahsll pas• `
! to the purchaser or gnntce.
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~ 9. That no waiver of any eoveoant herein or of t6e obligation secured herebr ~hall at any time 6ereafter be 6eld to be a waiver ~
~ oI the terms hereof ot of the oote secured hereby. 3
~ 10_ That in order to accclente the maturity of the indebtedac~s hereby seeured because of the failure of the Mortgagor to pay an ~
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~a: a.~c.sment, liability, obtigatioo or encumbraace upoo said propertr a• Lerein provided, jt shall oot be neeessary nor requi~ite that the '
~ Alortgagee shall fint pay the sama . •
! 1. To the e:tent of the iadebtedaes~ of the Mortgagor to the Mortgagee describcd 6ertin or secured herebT, the Mortgagee is htrebr ;
s ~ul~rogated to the lien or lieaa and to the rigAts of the owners and holders thereof of each and every mortg~ge, liro or other ineumbranee ~
~ un the land dtxribed herein which is paid and/or satisficd, in whole or in part, out of the proceeds of tht loan dexribed 6trcin or seeured ~
herehy, and the respective liens of aaid mortgages, liem or other iacumbrantea, shall be aad the same and each of them hereby is preserved, ~
and .hall pass to and be held by the Mortga`ee herein ss security for tht indebtedness to the Mortgagee 6erein deaeribed or hereby-secured, ~
to the >ame e:tent that it would have beea preserved aad would havt bteo pssxd to aod ~eeo hcld br the Mortg:get had it been dulr aod '
r~Kularly a..igned, transferrtd, set over, and delirered unto the l~iortgagee br separate deed of assignmeat, aotvvithstaoding tht fact t6at t
the same ma~• lx satisfied aod eaocelled of record, it being tht iateotion of the parties hertto that the aame will be aati~ficd snd cancrlled '
uf rccord hy the holdera thereof at or about thc time of thc rernrding of this mortgage.
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a 12. If any o( the sums of money herein rcferred to be oot promptly and tully paid ~rithin thirty (70) days ne:t after the ~ame ~ever-
~ all~ comc duc and payable, or if each and e~•ery the stipulations, agreemenb, eonditioos and eovenanb of said promissorr oote and this mort-
~ KaRe or ei~hcr, are not duly per(ormed, eomplied ~+ith and abided br, tht aggregste sum mtatiooed in said promissorr aote or otherwix
~ •~cured hercl,~• shall t?ecomt due and pa~able forthwith or thereafter st tht optioo of the Mortgagte as fully and eompletely as if said aggre- '
~ Kal~ ~um of monry wss originally stipulated to tx paid on ~uch dar, aoythiog in aaid promi~wrr aote or heteia to the rnotraty notwithstanding. ~
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- 13. The l~tortgaqor, its succe~wra or a.signa, is to rnmplp with the terms and rnnditions of ~ rnnsl~uction loan ag~eemtnt Fxtween the
~ ~1ortQaRor and tht S1ortRaqee, ao e:ccuted copy of which is i~ the poasession of the Mortgagee aad said rnnstructiun loan sgrecment ia
herrby incorporated herein by reference and madr a part hertof, snd any default by btortgagor under said rnostruetion loan sgreemcnt
~ sln~l) be con~idered aa tvent of default undcr this mortgage.
n li. It is hereby e:pressly agreed that th~ 111ortgagee, it~ succeswrs and as.igne Nill release from the lien of this mortgage any of the
lot• dr•eril.~d herein upon which there has been con~tructed a buitding upon ~ht pa~meot by the Atortgagor to the Atortgagee of such sum~ as -
~ ha~•t been advanctd by the Mortgagee on the lot or lots to be relea~ed, together wi~h ac~rued interest, pro~ idtd that the btortgsgor, it.
" ~ucce.wrs or assigne are not in default under any of the terms or conditione of this mortgaqe or any obligaticn or liability seeured herehy, '
~ and hacc fully complied ~rith the terma and conditions uf the ('omtructiun l.oan :~qr~ement between the Atortgagor and the AlortgaRee.
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