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S. That ia t6e erent of a:uit bcin~ ia~tituted to foralae tbi~ mon~a~ tAe Mo~a~ee ~Aall be eatitkd a spply u any time du~u~
.;,ch foralosuro suit to tAe coun haviag ju~isdiction t6u~t for the appoincmeat oE ~ rccnver of dl aad sin4ula~ tbe roonta~ed propeny, aod
cf all rent~ iacoanes~ pro(its~ issua and revenua thereoE, from RAatsoeve~ ~outce dcrived; aad tbeceupoo tt i~ be~eby c~p~aslr corenaotsd
and a~rccd tAat the court sbaU torth~titb appoint sucb raeiver vvits the usual po~ren and dutia of rtteiven. in like cues; and aid ~p-
poirttment ~6a11 be made by the court u a maue~ of strict ri~ht w t~e blort~a~a, and wichou~ rete~eoce eo ebe adequuy o~ ioadequur ot ~he
value of t6e propertr 6etebJ mocc~agcd, o~ to ti~c salvenc3• or in~olreacp ot tbe Monjs~ot or anr other paet~ defeadwt to sucb wit. 'l~e
I~fon~a~or hercby spccificallp waives tAe riQAt to object to tse appoinuaeat of a ~aeive~ as afo~esaid snd 6ensy e:prasly toa~enq that wcb
~ppoiatment shall be made u an admiaed equicy aad as a ma~ter of abwlute ri~6t to tAt Mo~atce and ehu the tune ~nay be done wJtbow
noNce m tbe 1?fon~s~or.
6. 7'6at if any pracedin~n sMald be iwtituted a~aiast the pwpeny co~ered by thi• tuo~e upon aoy othe~ Gen o~ claim wset?er
.upe~ior o~ junio~ to the liea oE this morc~aje, the Morc~a~ce mar ae ib option immediacely upon inuitutiou of wcM suit o~ durin~ tAe pead-
ency thercof declaro thi: mort~a~e and tse indebtedaas usured bertbr dut and psyable fortOwitb aad mar ~t ia optioo proteed en forcclat
this mottQage, •
To pa~ all and sin~ular t6e costa~ fea. c6ar~a and e:peasa of r?ery kind. iueludin~ t6e oat of ao abst~act of atle to uid Isad~
found to be ca?venient or e:pedient in connatioa vrich.aar suit for tbe foreclosurc of tLi~ toottsa~e, and a4o intl~dia~ wbetber tbe Mort~ajtt ~
is obligated to pay same or not~ reaw~abte attoraey~. fees iacu«cd or e:pcuded ae any dme br tbe Mo~~ee betause oE t6e failuro of tbt
Rior~eagor tope riorm. coraply ~•it6 and abide by all or any of tbe co~enaau„ condiaoo~ and ~tiputatiau of ssid promi~rory aoce, or this
mortgage~ in the foreclosure of ttia mortgage sad ia rnUating tAe smouat ucuted 6eteby with w wit6out Itesl procetdinp„ aod to reim-
bune the I~tort~agce for ever~ pay~ment made or incurrcd fo~ an~ ~ucb ~urpose witL intera~t from date of ere~ such partneat at t6e rate of
tm per crnt (IO%) per anaum; suc6 paymenb snd obligatioas, wetn iote~at thenon as sforaaid„ sLdl be ~aurcd by tbe 4m 6ereof.
To teep t6e buildin~ or buildiags tww or 6erc~fte~ aa uid land icwred a~sicrt loa or dama~e br Sce. e:teaded oo~en~c ana
ocher perils, including ~car ~isk insurance if available. in a~am not las thaa their full iasu~able •alue at t6e cat and e:paae of the Mo~t-
~agor in a caapan} or companics appwred by t6e l~tortgagce, t6e policY or policia to be held by the aad sucb polic~ or policies of ~
insuraece shal! have affi=cd therito a Standard New Sork I~inrtgagee Clause. malciag aQ lo~a ot loasa uadcr s poliq or policip payable to
che :?lortgagee u its interat ma~• appear~ aad ta dcliver said poliey or policia to tbe Mongagce Nhen issusd witl~ t6e teceipts tor tse paT-
ment of the pnmium thcrcEor; and in tAe erent any sum of moner becaap payable uodtr sutb polity o~ polieies„ tbe Moctgagce ~6a11 ~ave
the opcion to receive aad apply t6e sune oa aceo~at of t6e indebtedeea~ secured bereby or to permit tbe Moagagor to reeeive and use it~ or aoY
part thercof, for other pu?poses„ Nit~out t6e~eb}• ~caivirtg or impairing any equiry. tiea or rigbt unde~ or by rirtut of t6is aautaa~t; wd
tee Mortgagee if it dcems neressarr may place and pay for such insuraace, or aoy part thereaf, t~itbout losin~. waivids or affeetiag Mort-
gagee's optioa to foreclase for b~each of t6ie eoveaant. ot any 'pa~t thereof~ or any ng6t o~ option under t6is mortga~ and every such paT-
meot ahall bea~ intereu from date [Aen~of until paid at tse rate of t~spe r eeat (1496) per aanum. and all t~e6 pa~Yeenb witb ioterpt as '
af~resaid shall be secured by the lirn he~eof. Ia the event any laaa o~ damage i~ suffered MoRga~o~ shall notifr Moer~ajee of sue6 loa or
damage ~cithin forq--eight (iE) bours aEter t6e 6appening t6ereof; t6e failure to gire sucb ootics iAall cooatitute a defsuh and tbe Mo~a- :
~ee shall 6ave t6e rig6ts herein given for all defaults.
9. To permit. commit or suffer oo wute and to maintaia t6e improremenb at all tima in a stste of sood repsir aod ooadition; and
to do or permit to be done to said premius nothing t6at ~vill alter or cbaage t6e ute and c6a~acte~ of ~aid propeRr or io aay way unpair ot
«eaEep the security oE said moagage. In cue of t6e refusal. aeglect or iasbilit~ of tLt MottYa~or to «pair and msiotain said property. t6e ~
btor~gagee maa•, u ia optioo, make ~acA repain or cause the same to be msde and ~d~aate mauia in tlat be6alf whic6 wms s6a11 be secured
b.~ the lien hercof aod bear interat at the rate of ten per ceat (1096) pe~ annum.
10. To delirer the abatrsct or abatracb of title eo~eriag the rooctgaged property to Mortaatte or its dai~nated s~mt, ~s6ic6 s6a11 at
a11 timts, Juring the lift ~f thi~ mortgage. remaia ia che pasession of the Mortgagee and in e~cnt of t6e foceclaure of this monga~e or aber
cransfer of title, all righti title and interest of tbe 1lfortQagor ia and to aa~ suc6 abKracc or abat~acts of titk ~hall pas M the purrhs~tr or
s~antee.
tl. T6at no ti~aive~ of any eoveaaet 6ertin or in tbe obl;~u;on secured 6ereby s6a11 at aur time hereafter be held to be a~sai~er e1
am of tAe other terma Acrcof or of t6e note aaured kerebp.
12. That io order to accelerate t~e matarity of the indebtedne~s 6crebr secured because of ebe f.ilure of ~6e MoregaQor eo pa~ aar ux i
auasmcnt, liabilit~, obligation or encumbrance upoa said pmpem as 6erein pm~ided. it ~bs11 not be uece~asarr nor requisite tbat tLe Mort~asse >
~hall fint pay ~he sune. . i
13. 1'hat if the I~for[gagor shaU fail, neQtect or ~efwe for a period of t6irtg (30) days ful{y and promptl~ to pay t6e amounb re- ~
quircd to be paid by the nate 6ereby securcd or the interest t6erein speeified or aay of t6e sums of money 6erein re!'errcd co or be[eb~ ~ ~
curcd~ or otderwise duly. fully and promply to perform. ezecute, tanplr wit6 aad abide br eacb. ever~ or ~ny of the eoreoaoq~ ooaditiao~ r
or stipulation~ of thia mortgage. tLt pranis+on note herebr secured aed/or tLe tonatnrctioa Iwn agreemeny if aar. theo, and in either or te
any of soch ea enb, witbout notice or danand. the said aggregate tum meatiooed ia said promiswr~r aote, lea pmriow pa~ts. if my, aod ~
any and all sums mcntioned 6aein or secured 6erebf shall bccane due and paysble fort6wit6 or thercaher at t6e ooatiouing opdoo oE ttie .
bfortgagee as full~ and completcly as if said a~gregaee suma were origiaall~ stipulated m be paid at suc6 tira~ anrt6iog in said pnrnirory
note or hercin to the contrary ootxit6standing~ and the Nort~agee ~hal! be mtitled chereupoo or t6ernher witbout aotiee or demaad to io-
scitute sait at la.c or ia equin to eaforce t6e righn of t6e Mortgagee 6ereunder or under said pranis~or~ nota In t6e e~ent of an~ defauh
or breac6 on the part of t6e 111ortgago~ hereuader or uoder ~~d promissor~ notq tbt Mortgagee s6s11 La~e the oontiauing opcioo w enforee
paymrnt of all uuas secured hereby bY actioo u law or by suit iocq
uiq to focetlwe tLis mottqage. ather or both, ooaturtentlr or otserwise,
and one action or suit s6a11 aa sbate or be a bar to or waiver of tbe Mortgagee's riQht M institute or maintain t6e otba, pw~idea said Mort-
gagee s6a11 bare only ooe payment aad uti~faetion oE aid iodebtednas.
2+. 1'hat in the eveat tbat Mortgat[ar a6s11 (1) coosent W t6e appc?iaanent of • receinr, tnatce or liquidator oE all or a substsooa) ,
part of Mortgagor's aseb. or (2) be adjudicucd a bantn~pt or in~ol~my or file a~oluetar~ peotioa in bankruptcT. or admit in writias io~
ioability to pap id debts as t~ep becomr due~ ar (3) make a~eneral saaignmmt for tbe benef't of ecediwo, or (4) 61e a petitioa or anaw~ .
~eekiog reorganization or arrangemcnt vvith ctcditon„ or to takt ad~aotage of aey iosol~eocr law~ or (S) f'tle an answer sda~ittin~ t6e ms- -
terial atlcgadon~ of a petition filed againat the Mortgagor in sar bmkrupeet. reorganizatioo or ins~lrenep proetedin~ er (6) action sball be
takrn br t6e rlortgagor for tbe purpo~e of effeccing anr of tbe foregoin& o~ anr order. jud~mtut or dacee shall be entend upoo _an :
application of a creditor or Moregagor bs a court of canpetmt jurisdiction approviot a petition ~eeEin; apprindneat of a rccei~er o~ truuee ?
of all or a substantial part of t6e Mortgagor's asuq aad sncb order, jud~ment or daree sDall oontinue umtarcd aod in effect for an~ period of
thirty (30) consecutive da~~s, tbe Mortgagee map dalare tbe aote 6erebr secured forthwith due aad psyablq w6eroupoo the prineipal of sod
the interat accrued oo t6e note and all a6er sums hereb~ secured shall beeoa~e fortbwit~ due aAd parsbk a i! all of tbe uid sudn of moory '
were origioally at;pulated to bt paid on ~uc6 day; and t6ereupon the Mortsa~ee without nooce or danand ma~ prasecute a suit st lav~ and/o~
in equit~ as if all monies secured 6ercby had matured pcior to ib institudoo.
15. T6at tbe Mortgagee or any person autbori:ed br t~e Mort~a`ee shall ha~e t6e riQbt to mter upon and impect t6e mortpsed
premises at all reasonabte times.
16. Th:u : m- curn or sums Fich rnay 3H• Ioaned or adranced by the ~iortqaqce to the `iortqagor at aey time within twenty (20) ~ears 4
f:~~u~ the datr c,f this indenture•. tucethi•r ~vith interrst therrnn at th~ rate aQreed upon at the time o( such loan or ada•ance, shall br equally ?
~ ured w~ith .+nd h.~cc ih~ sam~• priority as the orieinal indebt~dness ~rEJ be subj~ct to all the t~rms and pro~•isions of this mortgage; pro~•idtd,
ci~.~t the a¢erc~dll' :it]]Ollilt Uf NT171U~a1 outst.indine at am• timc shall not cxcecd an amount equal to one hundred and fitty per cent ( ISO;i ) of
the principal amount ori¢inall~ secured herebp.
1:. T6at, if required by Mortqagee, the ~aid MortgaQor will ps~ anto t6e Mortp~ee, oo the ~nt da~ of esc6 aad e~ery consecuti~t
mont6~ a ~um cquai to one-t.seiftb of che annuai amouot aecaury to par all tua and asp~meub agaiost t6e said mortgaged premisa, aid
n,onthlv sum to lx estimated solel~ b~ Mongaqee and calculated to be an amount oot lar than t6e anwunt of t~a asertd agaiost uid ioort-
~aged premises for the pre~ious }ear, and if further required by Mortgaga to pa~ ~li iasursnee premiumr ia manaer and form n pro~idtd
her~in for the pa~-ment ot tazes and »se~smenn.
lE. T6at in the r~rnt the Iwn wbic6 t6is awrtg~Qe is ~i~m to ~aure is made for tbe purpae of fia~neing tit6er the ooostructiao ~
of new buildings or t6e construction of improvemenn and/or sdditioas to a~istin~ buildio~t, the Mortp~or~ if rrqmrtd b~ tbe Mort6a~ ~
ezpressl.• agreee to deposit wit6 the I?fortgagee or ia daignated agent an amount of mooe~ equal to tbt differeece betweto tLe net proceed~
of the lo~a aad the total amount, as determined by the Mo~tgaga, rcquired to fullr oomplett ~aid ooo~tructioo in saordance wit6 t6e plaw ~
and spccificationa beretofore submincd by t6e Mortgagor aad appro~ed bj the Mortp~ce. Said amoant of mooe~ s6a11 be plsced bl t6e
~?tortgagee irt a"Loana in Pracess Account" in tde name of t6e Mortgagor~ and the same ~hall be wed b~ tbs ~ortgagee to par tbt eosh~ ;
charga and espenses incurred in coancction wit6 ~aid construction prior to di~bunint o! t6is ban. it is turt6er a~rted tsat in t6e e~eet !
said const~uction is not fuity compteted ort or before t6e date stated in tbe Co~atnxtioa I.oa4 A~ednet~t or ia t6e e~mt tLu the work oa ~
~aid construcrion sAall cease beforc full canpletion and such casation s6a11 oontinue for a period of teo (10) da or if substantia) cootiauous F
progreu s6a1! not be made in such construccion, thea and io any such e~ent t6e ~aid agaregete ~emv. prineipal ~ iaterat, mentiooed ia uid •
praa;~sory note, an~ sll monia securcd hereb~, shalt baome due aod parable forthwitb or t6eroafter~ u t6e optioo o~ ~aid ~tortgagee; aod in
the evrnt of such ceuaeion of aork upon said constructioo for a period of ten (10) days, ot if sub~tantiaT oontiouou~ progreas ~6a1! not be
made in such conscruction, as afores:id~ the Mortgagee msy st its option ente~ into aad upon t6e mortgaged premisa and eomplete said coo- ~
uruction in such manner as it deem~ advi~able witbout any interfercace from t6t Mortta~or; tbe faid Mortaagor 6erebr p~ins aod srantin~
to the Mo~tgagee full power and authoriry• eo make suc6 entp into and upoo raid mott~ased premi~ to enter into sucb cootracts or sr-
rangements a~ ma. be aecessary to complae said connructioo, and to ezpeod aa~ mooia reroainioa in ~aid "Loans io Proeaa Atoount" ~nd
in ¦ddition any ~uma of moner naa~ary to complete said co~struction; aad an~ and all moaia e=peadcd br tbe Mortgsgte ia eonnertion
wit6 suc6 complction of construction in ezcess of t6e monies in ~aid "I.oans io Proce~ Acoount" shall be added oo tbe said principal debt and
~hatl draw interat at the rate providcd in said protnissory ~wtc, and ~hall be aecured by chis murcQa~e, and ,ha11 be parabte b~ ~be Mon~
on AemanA.
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