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f. 'I'sat ia tAe ereot of ~ tuit bcint inuituted co tonctae t4ii nwnpM ~Ae Mo~a`ce ~haU be eociiled a~ppl~ u ~oy tuoe durio~
~uch foreclosure ~uit to the cou~c Aavin~ juri~dic~ioo c?e~eOf for the ~ppoiacmeac ot ~ racn•c~ of ~11 aad sin4ular tAe mon`ssed propeny, ~aA
of all renta, incomes. protin. usua and ~evenua tAerco(, from Rhataever wurce derived; and tsereupoo u ii Ae~esy eap~caly coveoaoted
and ayreed that tbe cou~t ~sall (onbKi~6 appoint •ab ~aeive~ nith tbe u~ual powen and dutia oE ncei~en. io like ca~a; and uid •p-
poiotmcat ssall be made by the court u a msae? oE u~ict ~i~At to tse Mon a~ee, ~nd without aEercace w t6e ~dequur or inad~uac~ oE t?t
value ot tAe propsnr 6ereb7 moct~a~, or to tAe sdvencp or in~ol~enc,r of t~ Morts~o~ w aor aset pa~q dctendaot to ~ut? ~uit. Tbe
Mon~aQor ee~eb7 ~pcci(ically Kaives the ri~At to object to tbe appantmtat of ~ raeiver p afare~aid aod 5ercby e:prealy ooweaa tb~t wc\
appoiatment shall be made a~a admiaed equity aad as a matter of abwlute ~i~ht to tAe Mo~a~ee aad t6at tbe ~ame mar be done ~+itbau~
noci~Y to ebe hfort~a~or.
6. 1'6ae if aaY proccedin~ ~6ould be iwtituted asaia~t t6e property oovued by tei~ mo~aje upoo aa7 wsc~ Gen o~ claim whasu
~uperior or junior to tbe lien oE thi~ mon~a~e. t6e Mo~a~ee mar ~t id optioo inuntdiatclr upon imtitutioa of ~uch •uit or dutins the pmd-
ency tAtreof dalate tAis moctQaQe and tse iodcbtcdnas ~ecured lenby due .oa w,.ei~ t~ee~~ce .~e enar at ia optioa pcocad ~o foreclae
thit mort~agt.
To pay all and siagulsr t6e cwt~ tce~ c6a~a and e:peeset of s~ery klod, ineludlas t6e oat of aa abu~~ct of title to ~aid laad~
found to be coavcnieat or e:pedieat in ca+nectioa witb. aor ~uit for tbe Eoreclwun of ed'amo~t~~~c, and alw iacludia`, w`et6e~ tbe Mon~~ee
i~ obliQaecd to pay ume or not, reasa?able sttorner's fea incu~nd ot e:pmded at wr tlms br tbe Mortpsee baawe of t6e failure of c~e
Mort~a~or to perform. cwnply with aad abide br all or any oE t6e co~enaaa, cooditiaa ~nd ftipuluian of ~aid proraisoryr not~ or t6ia
mortQaQe. in tse forcclosure oE thi~ mo~tss~e aad ia rnllatin~ the amouat ~ecursd Secebr with or witbout IKaI proceediap~ ~od to reiis-
bune tAe I?toctQa~ee fo~ eve~y payment madc ot it~curred fot anr ~uc6 Purpae witL ioterat [wm date of s~sq ~uc~ panoent at e6s nte of
tea per «nt (l096j pe~ anoum; suc~ psymeoa aod oblitsdoof~ wit6 ~oarat thaeoo as aforaaid. ~6a11 be ~aund br t6e 4eo 6ereof.
f. To keep tbe buildin~ w buildiap oow or 6creafter oa said land iosurcd apin~t las or d~ms~e b~ 8re. e~eoded co~ecsss and
other peril~, iacluding war rist iasurance iE available, in a~um aot In~ t6ao tAeir full iasurable •alue at tLe co~t aud e:pense of tbe Mort-
gagor ~n a canpaay or companies appro~ed by t6e bfortgagee. the polier or policia to be 6dd by t6e and suc6 politr or policies oi
insurance s6a11 have affi=ed thereto a Standard New 1'ork Mortgagee Clause. makins all Iwt or bssa uader s policr or policies payable ep
the Morcgagce u ia interest may appea~~ and to delivu said policr or policia to t6e MonQagee w6en iuued with t6e nctipes tor t?e par-
ment of tAe pnmium t6erefor; and io t6e eaent aay sum of mone becana parable under sucs policr or policies, t6e Mo~tsasa aball 6a.e
t6e optioo to receive aad apply t6t same oo sccount of t6e iod~nes seeured 6eceby or to pern?it t6e Monga~or to recei~e and use it, or snr
part theceof, for ot6er purposes, ~sitbut thetesy ~?aivice~ or imFairin~ any equit~r~ Gm or right uade~ o~ br ~irtue of t6is mortp~e; aod
the MortQagee if it deems neceasary may plact aad pay for sucb ~nsuraoce, o~ any part thereof, ~-it6out losit~, wai~ios or affectin~ Mott-
~agee's optioa to forec{ae for breach of this covmant~ or aay part t6ere~of~ or aay ri 6t or option undet this monga~ aad e~ery such pay-
mrnt sball bear interest fm+n date t6ereof until paid at the rate of ba pe~ aot (!0~) per aauu~q and all ~ue6 paymena wit6 interat r
aforesaid :hal1 be saured bp the lien 6creof. In t6e e~cnt any loa or duna~e is suffe~cd Mo~aso~ s6a11 naiy Morssaice of such ba or
damage ~sithin forty-eigAt (4t) 6oun aher tbe harpeaia~ thcceof; t6e failure to j+~e suc6 ootice ahall cooatitute a defauh and the Mortsa-
~ce •halt e+~e tse rigLa herein girm foc all defau b.
9. To pertnit, commit or suffe~ oo v~ute aad to maintain the impro~ements at all tima io a state of tood ropair aad eoodition: aad
m do or permit to be done to said p~emiies nothins t6at will atter or c6aa~e tbe we and e6araeter o4 ~aid propertr or io aar way impair or
~~e.ten c6e xcurity oE uid monQa~e. ln cue of t6e «fwal, oeQlect o~ iaabilit~ of tbe Mortsa~or to tepair and waiatain »id pwpc~. tbe
rtor~Qagee mati•. at ia option, make soe~ repaia or cau~e tbe same [o be made and ad~auce monia in t6at besalf whic6 ~ ahatl be ~ecurcd
b.• ~he lien 6ercof sod bcar interat at the rate of tea per cent (10%) per tunum.
10. To delirer the abt~act or abstrscb of title oo~eriae tAe enort~ssed propertr to Mort~atte or its dai~nated a~cat, w6icb s6a11 at
aI! eimes, durine tAe life of this mortsa~e. ranain ia tLe poaession of tbe Mo~se aad io e~rent of t6e focalosure of t6is mongase or a6er
cramfer of title. all righti title and intsrat of t6e Mort`aQor in aad to auy such ab~tract or abatrach of title shall pa» to the purchascr or
grantet.
11. T6at no ~caivcr of auy rnrmant eeceia or in tLe oblisation secured hereb~ s6a11 at aa~ cime he~eafte~ be beld to be a~sai~er e!
an. of the a6er ternu hereof or of t6e oote secured bereb7.
12. That io order to accelerate tLe maturit~ of the iodebttdnes benbr ~ecured because of t6e Eailurc of tbe Mortp~or to pa7 an7 t~
auesunent. liability. obliguioa or rncumbraace upoa uid pmptrty r 6ertin pro~ided. it shal) oot bt neeeuaq oot requiaitr tbat tht Mort~a~es
•hall first pay tht same.
13. T'6at if the I?fortQa~or ~ball fail, ae~lect or refuse for a period of thirty (30) dars fullr aad promptly to pay t6e amouan re-
quircd to be paid by tbe nae herebr secured or t6e interest tAerein ~pecified or aay of the sums of money bereio referred to or Aereb~ ~
cured, or oc6erwi~e duly. full~ and prom~tly to perfonq tueutq eomp1~ witti and abide br escb. eoery or anr of t6e ooreaanby coaditioo~
or uipulations of this mortQa~e, tDe pmmisaory. aote hcreb~ secund and/or t6e oonatnxtioo {oan asrcemmy if any. tben~ ~od in eit6tr ar is
any of suc6 e~cnts, wit6out notiee or danand~ tbe said a~rcgate swn mentioned in said promiswry note, lesr pre~ious pa~nneata, if aer. aod
any and all sums mrationed 6ecrin or seeured 6ereb~ s6aU become due and payable fort6with or tLerafter at the aoetinuin6 0ptw~ of t?e
[?iort~sgee ss fullp and canpletelr as if said aaregate swm were ori~inallf stipulued to be paid at suc6 tiroe, anyc6inq in wid pnminorf
note or 6erein to tbe rnncrarJ notarit6standin~ and t6e Mortgagce i6at1 bt mtitled ttiereupon or tbe~eafter without ootice or dcmand to in-
sticute suit at la« or in equitr to eaforce the ri~6ts of the Mortgagee beceunder or under said prwnis~oh nota In tbe enent of ao~ dctault
or brcacb oo t6e part of tDe Mort~aaor 6ereunder or under uid prornissor~ note~ tbe Mort~ajee sLall 6a~e t6e eontiowas option to mforee
paTment of all s?um secund 6erebr b~ attioo ~t taw ot by ~uit ineq ~utp ca foretlae t6is mo~age, atber or bot6. cooturnndy or aeen~isti
and onc action or auit sLall cat abate or be a bu to or wairer of tLe Mortga~ee'~ ri`6t ta imtitute or maiotain t6e a6er~ pro~idcd uid Mort-
gagee shall Sare oalr oae payment and utisfaetion of said indebtedneN.
~ 14. 'I3at iu t6e e~mt t6at ~r shall (U conseot to tl~e appointrnent of a~eui~er. m»tee or liquidator of all or a subaantial
' pan of Mort~a~s asets. or (2) be ad'u cated a banktupt or iowl~eat, or Sle a~oluntarp petition in bankrupter. or admit io writiot is
~ inabiliry oo pas ia debts d the~ become ~ue. or (3) make ~`eaenl wi~omeat for t~e bmef t of eredit~on, or (i) file a pe6tion or aoswa
€ ~eekin~ rcoreanization or ~rrangmnent witb erediton. or to take ad~anta~e of an~ ia~olTeotp law. or (S) file ao amwer admittias t6e ma-
cerial allegations oE a pecition filed a~ainu tLe Mortgator io aap 6aakrupter. roor~ani:ation or insoheocp proceedin& or (6) action s6a11 be
; al-eo by the Mortgagor for tbe purpae of effecting an~ of t6e foregoin~ or (7) aa~ order, jud~nent or decrte sb:ll be entcred upoo so
: applicatioo of a creditor or Mongagor by a court of oompetent jurisdicrioo spprovins • petitioa ~eekin~ appoiatment of a recei~er or trustee
~ of atl or a~ubuantial pan of t6e Mortpgor's a~sets and aucb order, judgmeet or daree ~bal) ooo6nue un~tayed and in effec~ !or an~ period of
~ ehirtr (30) comecuti~e da~ ~6e MortgaQee ma~ dalaa ~he nae 6~reb~ secured forchwic6 due and payable. w6eroupoa t~e prindpal of sed
~ the interest ucrucd oo t6e oote and all other suau Aerebr secured ahall beoomt forthwit~ due and pa~abk as if all of t6e said sures of mooe~
~ ~.cre origiaally stipulatcd to bt paid oo ~nc6 dsy; and t6ereupoo t6e Mort~a~ee wit6out notice or demand rnay prwecute a suic at law aad/or
~ ~n cquity as if all monia saured bereby 6ad matured prior m ib in~titutiao.
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~ 1S. That the Mortgagce or any person autborised b~ ttie Mortss~ee ~6a11 bsn t6e ri~t eo mter upon aad impcct tbe mort~a~ed ~
premises at all reasonabte time~. ~
~ Ib Th.~t an}- sum or sums Nhich ma~~ tx~ loaned or ad~-ancrd by the ?liort¢aqee to the Mortqa¢or at an~• time within twrnty {201 y~ars
~ fr~~rn the drtc of this indenturr. togrther with intrr~st th~reon at the rat~ aqrced upun at th~ iirne o( such loan or ad~•anc~. shall be equally ~
` ~ ured w~ith .~nd h.~ce the sarne pnont}• as the oriuinal indebtcdncss and Ix~ subject to aU the terms and proeisions of this mortqaqr. pro~•idrel, #
~ t}~.~t the aezr~Rate amount of princ ipal outst.~ndinq at any time shall not ex~ rcd an amount ~qual to on~ hundred and fi[ty per ~rnt (15~',: ~ of !
cne principal ~mount originally secured hereby. ~
1:. 'I'bat, if required b~ Mortgatee. the said Mortta~or will pa~ uneo t6e Mo~asee. oo tbe ficst dar of cu6 aod e~cry comecutire
mootb, a sum equal to one-t.relft6 of tbe snnual amount nece~ar~ eo pa~ all tua aod ase~menb asaint cbe ssid mo~cgsged premi~es, said
~ monthh~ sum ro bc atimated wldy b~ Mortgagee and eakulated to be an amarne na la~ t6an tLe ~nouot of tua a~ed a~ainst ~aid mort-
# gaged premises for the prerious y-ear, and if further reqoired by Mortgasee to pa~ ~Il in~uraaee pttmiums ia maoaer and form d pro~ided `
_ hernn for the paymeot of ta:es and ane~tmrnts. ~
lt. That in tsc e~rnt the loan wbic6 this mort~a~s u prea to secun i~ made for eLe par of finaueins at6er tbe caatructiao ;
of ncw buildin~s or the oonstructioa of improremenn and/or additioas ~o esistin~ buildiop~ tlt ortsa~or. if nqwred br t4e Mortpsee. E
op
c:pres~l~• agrees to deposit with t6e MortgaQee or id daiYnated a`eat ~n araount of mooq equal es t~t diffeseate between t6e aet praceed~ #
of t6e loaa and t6e total armuat, as daermincd br t6e Mo~asee, reqwred ~o fu11r oomolae ~atd ooo.cruecioa lo aooord~ece wit6 tbe plaw '
- and spccification~ heretofore submitttd br the. Mortgsyor and appro~ed br tbe Mortsasee. Said aisount of ma~e~ ~6a11 be placed b~ tbe
- !?ioregagec in a"Loans in Process Aaount" in t6e name of thc Mort~a~or. and tbe same ~6a11 be wed b~ tbe Mortpiee to par ttie cwls,
~ c6arga snd e:pcnsn incurred in coaaatioo witb said ooo~tructioa prior to di~bunios of thi~ loan. It u furt6tt a~reed tbat ie tbe e~e~
~aid cons~rucnon is not fully complaed on or before the due st~ted in t6e Construetioa Loso A~eeroent or io cbe event t6u cbe wo?k oe
~ •a;d oonaruceion ahall ccau before full com~le~ioa aad •uc6 cesatioa ~hall aontinue fot • petiod of tea (f0) daT~. or if suMtanrid cooeauow f
? progress ~hsll nor be msde in ~uc6 construcuon, t6rn aoA io snr sucb e~ent t~e aid"a~repte ~wq priacipal aad interat, meocia+ed in said :
pranisary note. and ~II monia ~aured bereby, ~hall become due and paYable fort~wit6 or tberc:ker. ~t t6e optioe of said Mort~s~ee; aad io f
ebe evrnt of ~ue6 cessarioa of work upon sa;d constructioo for s period of teo (10) d~p. or if sub~tantial aootiauou~ projres sball na be
made in ~ucb co~ntruction, as aforesaid, tbc Mortaasee ma~ ~t ib option enter iato ,+nd upa~ tbe mort ased premisn aod complete said con- ~
aruceion in s~:~ h msnncr as ie decm~ sd•i.sble wiehout aar intcrtercoce frao tbe Mortp~or; tbe said ~Rp~ eerebr drin~ aoe ~r.oe~os F
< w ebe Mon~aacc full power ~nd sut6oritr to make •oc6 entry~ into ~nd upon ~sid mortpted praoisa, to mter into suc6 contrsca or ~r-
rangcmen~i as ma~ be necesssrr to canplete said conKnietioo. and to ~pend aa~ rnonier raoafnio~ in s~id '2oaro io Procas Aooount" snd
in addirion any ~um~ of rnoney aaea~rr to complete •sid tonKructioo; aad anr and all monics e:peaded b~ ~6e Mon~s~ee io connectioo
w;~D sucb complerion of construction in euess of t6e monia in said "Loaro in Proee+~ Aeoount" ~11 bt added to t6e said priecipsl debt and
~ •hall dra.. in~erat at ~hc rate proridcd in uid promitwry note, and •h.ll be .ecured br t6is ~nons.~e. ~ed ~h~ll be paJ~ble bT ese Mortp~ ~
on A~mand.
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