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S. "i'Aat ia tse event of a suit bein~ inuituted to (orccla~e tsis mortQa~e, the Mott~ssee ~hall bc entitlcd to syply at soy time du~io~
euc6 toreclosu~e suit ~o tAe court havinq juri~diction tDereqf for the appointmcnt of a receivir of sll and sin~ular ~he meneased prope~ty, aad
of all ~ents~ iacomea. p~otits, izsua and revenua ~Aereof, from «haaoever aurce derived; aad the~eupon u i~ hereby esp~essly covcoaotcd
and a~~ee.1 that the court s6a11 forth~~ith appoint ~uch receive~ Hits tse u~ual povren snd dutia oi recciven. io like cs~es; anJ ssid ~p-
poirttment sAall be madt d} the court u a mactc~ of striet ri~6t to t6e MortQa~a~ aad v~itlaut tefereace to tbe adequacy o~ iaadcQuuy of t6e
value of tAe propeny bereby tnort~a~cd~ oc to t6e tolvenc~• o~ insolvcncy of the Mort~aQor or anr aAer pa~ty defendant to such suit. 'I'be
Alort~a~or hereby ~ptcifically waiva tbe ~i~6t to object to t6e appointment of a raeire~ as aforesaid aad 6ereby e:p~essly con~cna tA~t ~ucs
•ppointn?ent shall be made as an aJmittcd equity and u~ matter of a~solute ri~st to the Mort~a~ee and tbat tee tame may be done witbour
notice to tbe AlortYaeor.
6. T6at if aay proceedings ~6ould be iwtituted against t6e pmpcrty rn~e~ed by thi~ mort~aQt upon aay ot6er lien or claim whetser
+uperior o~ junior w the liea of thi~ mo~t~~~e, t6e I?fortQagee may at its option immediately upon in~titutioo oI ~ucs ~vit or dutin~ t6e pcnd-
ency tAe~eof decla~t thia rtart~are and t~e iudebtedness secured herebr due aad psyable fortsvrith and mar at ia optioo procetd to fo~celae
thia mort~age.
To pay all and sin~ular ~he cost~ fca, c6araa and e:pcrocs of every kind. includinQ t6e tat of an ab~tract of title to said laads
founJ to be convenient or e:pcdient in connectioa witA. aay suit for tbe fo~cclwurc of thi~ mo~aQe, and al~o includin~, wbet6tr tse Moneasee
is obliQated to pay saiae or not. reawnable sttoraey's fces iocurred or e:pended at aar time by the MortQ~Qee beeause of tbe tailure of ~be
~fort~ago~ to perfom~, comply ~sitA and abide by all or any of tse covcnsnts. coaditiwa aud stipulstions of uid praai~eory t?ote. or thit
mortga~e, in tAe (orcclosure of tAis mo~tgage and in collecting t6e unount securcd 6e~eby aith or witbout IeQal protcedioQs, aod M rtim-
burse the 1?fortgagee (or e.•e~~• pa~ment made or incurred for an~ ~ucb ~urpose wich interest fran date of every such paymcat at t6e ratt of
tea per cent (IOSb) per aoaum; sucs pa~•ment~ and obligationa~ witA ~nterat thercon as aforaaid. adtll be ~ecured by t6e Gm hereof.
i. To l-eep t6e building or butldiogs now or 6ereafter on said laod iaured a~aintt lou or dama~e er fi~e. e:teaded cove~aQe and
othe~ perils, including ~rar risk in~unnce if available. in a aum not less than tbeit full irourable value at tbe ca~t aad e:penx of the Mort-
gagor in a company or compania approvtd by the btortgagee, t6e policp or policia to be 6eld b> tLe Mortgagce. and sucA polity or policies of
insurance s6a11 have affi:ed tAereto a Standsrd New 1'ork Mortgagce Clause, makiog alt lou o~ loua under suc6 polier or policits pa~•able M
the Mortgagee as its interat ma~• appcar. aad to deliver said policy or policia to tbe Mortgagee wAeo iuued witA the ~ece~p4 for the pay
mcnt of the prcmium t6erefor; and in the event any sum of money becaoa payable undtr such policy or policies, the Mortgagee s~all have
t~e option to ratire and apply t6t same oa accouat of t6e indebtcdnes securcd 6ercD~• or to permit the Mortgag~or to reccive aod ux it, or any
part thereof, for othcr pur~wses~ NitLout thereby ~~aiving or impairing aay equiry. lien or rigAt undec or by virtuc of t6is mortgagt; and
the Mongagce if it dcems naessary• roay place and pay fo~ such insurancc. or a~y part thereof, ~it6out losiog. waiving or affeeting Moct-
gagee's option to fareclou for breach of t6ia rnveaaat, or any pan tAercof. or any ng6t or option undet tAis mortgage, and every suc6 pay-
ment shsll bcar interest from date thereof until paid at t6e rate of tts per teat (1096) pt r anourq and all sueb pa~yncnts wit6 interest af
aforesaid sAall be aecured b~• tht lien heteof, ln the event any losa or damage it sufEered Mort~ago~ shall notify Mongagee of suc6 los+ or
damage ~cithin fony-eight (if) hours aftcr tse happening t6ereof; the failure to give suc6 ootice s6a11 cantitute a default and t6e MortQa-
~;c~ shall 6r~•e the rig6ts herein gi~en far all defaulb.
~ 9. To permit. commit or suffcr oo wute and to maintain tse impro~emenb at all tima iu a state of good repair and rnnditioo; and
to do or permit to be done to said ptemises not6ing t6at wJl alter ot c6ange the use and t6aracter of ~aid propeny or in aay war impair or
,ceakea the ~ecuritv of said mortqage. In cue of the refusal. neglcct or inabilit~ of t6c 1lfortgago~ to npair and maintain said pmpcrty. tbe
I?for~gagee ma~•. at its optio~, make such rcpain or cause t~e same to bc made and advancc monies in [6at be6alf whic6 ~ums ahall be aecurcd
b.~ tbe licn hereof and bear interat at the rate of teo pe~ cent (1096) per annwn.
~ 10. To dcli~er the abstract or abstracts of title rnvc~ing the mortgaged propcny to Mortgagee or its designated agent~ .v6icA s6a11 at
all times, during the life ~f thia rnongage. remaia in t6e passession of t6e Mortgagee and io e~cot of t6e foreclosure of t6is mortgage or a6er
cramfer uf titte, all rig6c~ title and intereu of the Mortgaror in and to aoy such abstract or abstrans of title s6a11 paa~ to che purchaser or
6rantee.
11. That no ~~aivcr of any covcaant 6crein or in t6e obligation aecured 6ercby ssall at :nr time Screafter be 6eld to be a~sairer at
an. oE t6e ahcr terms hereof or of t6e aote secured hcrtby.
12. That in order to accelerate t6t maturity of the ;ndebcedneb 6ereby secured because of cbe fa;l~rc of ~De Mon~agor co wr ~r ~u
zssasment, liability, obligation or encumbrance upoa said property b 6erein pro~ided. it s6all oot be accessan nor requisite that t6e Mortga~ee
shall first pa}• the suae.
13. 1'hat if the ~longagor s6a11 fail, aeglcct or refuse for a period of thirty (30) days fuliy and pranptly to pay t6c amouots re-
quired to be paid by t6e nae sercbr secured or t6e ioterest thercin specificd or any of the suma of money bcraa rcferred to or benb~ ~
cured, or othensise duly. fully and promptly to perform. e=ccutq tomply witb and abide by tu6. c~ery or aar of tAe rnreaanb. condition
or s~ipulationa of thi~ mongage, the promisson~ ooce herebr secured aad/or the coo~tructioa loan agrecmcnt. it any. tLeo. and in either or in
any of such erent~, ~sic6out nocice or demaad~ ihe said aggregate sum mrnciooed in said promissop note, less prcvious pa~mm~, if any. and
any and all sums mcntioned herein or securtd herebp s6a11 becorae due and pa~able foct6wit6 or tbcrcafter at tAe oontinuing optioo of tht
i~tortgagee as fullr and completel~ s if uid aQgregate suma were originally stipulated to be paid at suc6 time. anrtAioR io said promiswry
j note or Aerein to the contrary aot~sit6standiag, and the 1lonQagee s6a11 be eatitled t6ereupoo or t6ereafter without ~wticc or demand to ia-
stitute suit at la.. or in tquity to cnforce the rig6a of the Mortgagee hereuoder or under said promis~ory note. In t6e e~rnt of anr default
~ or breac6 on t6e part of the I?iortgagor 6ercunder or uoder said ptomis~ory note, tht Mortg:gee shall 6a~e the continuing option to mforce
paymcnt of all s?uns ucured hereby b~ mion at lsw o~ by suit intq wtr M foreclwe t6ia mort~age. either or both. coocurrently or ot6erwisc.
G and one action or auit s6aU na abate or be a bu to or waiver of t6e Mortgageds riQ6t to institute or maintain tdc ot6cr, pro~ided said Mort-
~ gagee shall bave only one psyment aad ucisfaetion of uid iodebtcdnns.
t 1+. T6at in t6e ereat that Mortgaltor s6a11 (1) conxnt to t6e appoinnnent of a reca~er~ truuee or liquidator of all or a substacdal
; p~rt of I~tort~aQor's a~eu. or (2) be adjudicated a bankrupt or ins~i~ent, or file a~oluntar~ petition in baakruptcT, or admit in writins ib
4 ioability to pas id debts as the~ becom' due, or (3) make a general usignment for t6t benefit of erediton. or (i) file a petition or awwei
s •eeking reorganization or arrangemcnt ..ith crcditon. or to take advanta~e of any insol~encr law. or (S) file an amwer admitting the ma-
~ cerial sllegations of a petition filed aQainat tbe Mortgago: in aay baakruptcy~ reorganisuion or insolscncy procecdiog. or (6) sctioa s6a11 be
{ cai;en bv tbe Alortgagor for c6c purpose of effecting anr of t6e forcgoing, or auy order. jud~nrnt or decree shall be cntered upon an
~ application of a creditor or Mortgagor by a court of compecent juri~diction approving a petiaon seckin~ appoiotmrnt of a recci~er or trastee
of a!1 or a~uMtantial part of the Mortgago~'s sssets and sueh order, judgment or decree s6a11 toatinue unstayed and in effect for any period of
~ ~6iny (l0) consecucive da~s, t6e blortgagee may declare t6e nae 6eroby secured fort6with due aod payable, w6ereupoo the principal of sad
3 ihe in~erat accrucd on t6e note and all aher aums bereby secured shsll bcoome fortbwit6 due and payabk ss if all o( t6e ~~id sums of moeey
~ were originallv acipulated to be paid on auc6 day; and thertupon t6e MortgaQee wit6out oo6ee or dcmaod mar prosecute a suit at IaM and/or
~ ;n equit?• as if all monies secured berebr 6ad matured prior to its in~titution.
~ 1 S. That t6e Mortgagee or an}• penon authorised by tLe Moctg:Qce shall ha~e t6e riQht to cnter upon and iropec[ tbe mort~agcd
~.rem~ses at all reuonable timee.
lr; Th.~t .:n~ :u~n ~~r .ums h4:ich Iild}" IN' ~U.IRC~ OC ad.~an~rd b.~ th~• \tnrt¢~ece to thF \fort¢.~¢or at .im• time M•ithin tw•enh~ ~'O1 }~ears
y .r •n: th~• d.~t~~ ~~f th:s in~lrntun•. t~~e~the•r with intrrrct thrrf•t.i~ ;it th~• r.it~• .~Cr~rd upun et the tiine o~ surh luan or sd~anre. shall be eyuall~•
ui~•d ~~~h .~f.c: t~.~~~• th~~ sem~• pr~nin .+s th~• uri~:n.il indebt~~dn~ss .~nd IK~ subject t~r .~11 thr term; ~nd pruc~siuns uf this r.iort¢.i¢e: pm~'id~d. .
~ ti,.~t th~ .,e¢r~•e.~n .+nn~urit uf p:in~ :p.~l uutct.~ndine .~t ana~ ti~n<~ ch.Jl not c~~ n•d ~n a~nount ryu.~l to une hundred :ind (iRy prr cent ( ISO': of
K tnc prinripal .~n;uunt uncin.,lly sccurcd hereby.
~ 1'. Tbat, iE required by Mongagce. tbe said Mortga~or wiq pay unto t6e Mort~a~ee. on the fint day of eacb aod e•~r~ consecuti•e
~ti rnonth, a sum cqual to one-t.~dit6 of the ~~nwl amount ncceaary to par all tua and aseMmenb a~ainst t6t said mortgaged preroixs, said
rr,nnthl~ sum to be c~timated solel~• b~ Mortgagee and calculated to bt an aiaount oot Ie~ thtn tbe amount of ta:a asessed against said roort-
_ ~;~ged premi.es for the pre~•ious }eae, and if furt6er required b~ Mortgagee to pa~ •I! imuranee pnmiuma in maaner and form as pro~ided
? hercin for the pa.ment of ta:a and assexmenq.
~ tE. T'Aat in thc e~rnt tbe loan w6ic6 tLis mort~aQe is ~~m to securc is raade for t5e Qurpo~e of fiaancine cit6er t6e constructioo
of ne~. buildings or t6c construction of impmremenn and/or additions to ~isanQ buildings, ~e Mortsa~or. if required by t6e Mortgasee.
' e~prcssi~ agreee to deposit with t6c I?tortgagee or its designated sgeat an unvuat of moner equal to tbe differeate between t6e net proceed~
~f t6e loan and t6e total amouor, aa determined b~ tbe Mort~agec, nquired to full~ oomplete said aoostrucdoo in ucordance wit6 t6e plaa~
and spccificatio~. heretofore submitted br t6e 1lfortgagor and ~ppro~ed Dy t6e Mortga~ee. Said amount of monq s6a11 be plated by t6t
tifortgagee in a"Lo~ns in Procesa Account" in the name of tbe Mortgagor, and tbe same s6all be used b~ t6e Mortga~ee to par tbe co~b,
charge~ and c:pcnses incurred in connection with said construction prior to di~buains of t6is loan. It is fun6er apttd tbu ie tbe e~ent
.aid cons~rucrion is not fully completed on or before t6e date atated in the Conunrction Loan A~rteracnt or ia t6e e~mt t6at the vvork ao
4j ~~id construction shall cease before full completioa and ~ucb cessstion •hall cootinue for a period of tea (10) da~s, or if ~ubstantial continuous
progrrss shall not be made in such construct~on, then and io anr ~ut6 e~eot tbe wd a~gregatt swn. principal ~nd iaterest. mentioned in uid
promi~sory note, and sll monia secured 6creby, shatl become due and pspable fort6wit6 or thereafter. at t6e opoon of ~aid Mortgagee: and io
the event of sacR ceesation of work upon said construction for s period of tm (10) dsys. or if iubrtaatial eantinuous progreb ~6~I1 not bt
~ madt in such construction, as afore.aid the Mort~sgte ma) it ib option enter into aad npon tbe reortgaged premisa aod complete said con-
' struction in •uch manner a~ it decm~ advi~able witbout anr interfermce trom t6e MortQa~ur; t6t ~aid Mortgagur ~~~r r.~o~ and `rwntin=
:i co the Atortgagce full power and autAority to make sucb entrr into and upon uid rnort~ased premises, to enter into ~uc6 contracts or ar-
rangtmenq ss may be naessarr ro cornplae said constructioo, and to ezpcnd an~ monia remaiams in uid "l.oans io Procea Account" ~nd
- in addi~ion am• fums of rnonep oaca~sry to complete s~id constructioo; and any and all monia e:peaded by t6e Mortgaqee in connecrioo
wi~b f:xh completion of construction in ezcess of t6e monia in .aid "Loan~ io Proces Accouot" sh~ll bt sdded to the ~aid principsl debt aod
~ ~hall dnw interest ar thc nte pro~idcd in eaid promiswr.• note, and ~hall be ~aured by t6i~ mortQ+~Qe, and ~hall be nsvable b~ tee Mort~a~or
s~ on ArmanC.
6~~ 191 2858