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S. '['t~ac ~a tsc evcoi oi a suic bein~ inuituted to foralac tdis roortt~e, tlie M~s~ee ~11 bt eatitkd to apply at ~ny tirot durio~
auc0 foreclo~un suit ~o ~he rnun havin~ ~u~isdictioo thereQf (or eAe appoioimea~ of ~ rc~ceiver of all sad sin~ular tAc roon~a~ed property. ~ad
of all rcnts, incomes, prolits~ iswa and revenua tee~eof, from KAaaoere~ wurce derived; aod t?ereupou ~t is Sereby e:prasl~• coveasnted
and ~?e~d that the court sl~all fons~vits appant such rtreiver voitb t6c usuai p~reen at~d Autie~ of ra~tivt~. is tirt casea; and s~id
pointment shali be niadt D} tAe court u a maner of sttict ti~6t to tht Mor~aQce. aad wit6out rofereett to tLt adequaty ot iaadtQ~scp o~ ~
v~lut of the propeKy bereb)• ~oortQared. or to the solvenc)• or in~olven~ ot the MonQa~or ot ulr ot6er pa rty defendtot te sucA wit. 'l~e
Mort~a~or Sereb~ sperifically waiva tbe ri~At to ob~ett to t6e appoiotraent of a receive~ w aforesaid ~od sereby e:pKaly ooesead ~su we~
appaatment sAall be madc a a~ admi~ted cquit~ and as a m~c~er of aesolute ri~At eo t6e Mort~ates and tsu t0e same ~oay be done wit~
notice to tbt I?lottQa~o~.
e. T6at if an~• proceediags s~ould be iostituted ~ainu tAe pmperty oorered by t6i~ ~aott~ase upoo aay etber liee er d~im wret?er
+uperior or junior to the lica of tFds aart~aQe. t6e 1?tortQ~ee ma~• at id option imro~diateb upoa iaKitutioa of wc! ~uit or duria~ t\e peed-
enc~ tbercof dcclare this mortQaQe and cAe iodebtedaas ~ecured bere~y due and p;y~bk fortlwits aad ~ at ie~ optioo precead es fore~clat .
this mortQtRt. :
To pa> all and sinFula~ t6c costl fecs. csar~s and e:pc~ses of eveey kiod. iacludin~ t?e oat of aa abaract of title to s~id laod~
founJ ~o be coavenicat or e:pedient in connection witA aa~ suit tor tbe foreclo~ure ot t6a mo~a~e. and aLo includios, wbetbet tse Mortsa~ee
obliaared to pay same or not, nasonahle anorneq's 4ecs iacurred ot e:peaded at aor tise e) tbe 1rlottsa~ee secawe of t~e failure of t4
Iw Y:_^'- 7 :wwti w •wi
f~lortQagot to pertorta, comply K~te ana aDidt or aii or am oi eoe ~vvcnawii~ eu:w:?i:rr :iw ::i :«:aw ~«:3 .....:..a:
mc,rtga~e, in tAe foreclosurc of thia mort~age and in collatior t!u amount sen~rtd Seeeby witA or witbout k~al Proeeedio~. ~od te reis'
hune tAe 1?tortgagee for even pacmeot made or incurred for taj ~ucb ~urpast wits inteeat Erem datt of ertq wts pay~oent at tse rstt ~f
ten per cent (f09b) per aoaum; such paymean and obliguioos. wits ~oterot t6e~eoa d afotes~id, ~6a11 be ~ecured D~ t~e 4eo bera~of.
ca e
i. To ~eep the buildint or buildiags aow or 6ereafter on uid l~ad iawred apidt laa or daaa~e b~- e~es~ded ~ecaje aod
otl.er perils, i~ludi~g ~~ar rial insurance i4 a~•ailablc, io a sum not laa tban their !ul{ insunble value at t?e eat aod t=peme of tbt Mott-
~aAor in a compan~ or rnm~aoia approved b>• tbe Mortgagee, tbe policy~ or polieia te be beld bp tbe Moet~ajee~ aod sucs policy ot policiea of .
in~urance ahall have affi:ed tAereto ~ Standard Ne~s 1-orl Mortaagee Clause, mal•inQ all (oa~ or bsscs undtt sue? poliep or policid pa)'able 10
che i~fortgagee ~ its intemt ma~ appea~, and to deliver said polit}• ot polieia to t6c Monea~ec w6ea issued wit6 the recapea foe tde pay-
mrnt of the prcmium thercfor; and in the eve~t atn• sum oi mw+ey- bero~nes payaple under sucb policy or polieia. t~e Mortta`ee sball Aare
e~e op~ioo ~o receivc and appl} t6e same oa scrount oi tbe iodeberdneN seeund 6ereb~ or to permi~ t6e Morcgagor eo recei.e and use i~. or anr ;
part thereof, for other purposes, v~it\out thercb~• a~:iving or impairinQ an}~ equity. liee ot rigbt undtr or by ~irtae of tbi~ ~~a~t; and
chc blortRagee if it Jrems nccrssary ma~• place and pa~ for such insurat~ee, or any part t6enof, seitbout lasios. wsi~ina or affatins Mort- ~
gagce's option to toreclase for breuh of thi~ eovenaat. or ana• part tLereof, or an~ ng6t or opdon under this mortpte, aod every• suc? pa~-
ment sball bear interest from datc the~enf until psid at t6e nte of ~ per eetu (lO~Xe) per aanwa. and ~il sucr pa~r?enb wit? iotetat ar
aforesaid shali be securcd b~ the lirn 6ereof_ lo the event an~• loss o* dama~e is auffered Mort~a~or s6at1 ootif}' Mort`a~et of sucs lon or
damaAr ~vithin fott.•eight {{E) Murs aher tbe happeniag thereof; t6t failure to ~ive sucR uotice shall comcitutt a defauk aad t6e Mortp-
~er ~hall 6ave tht ri~Ats herein giaen fot all defaulri.
9. To pern~it. cwnmit or suffer ou Kasce and to maintaia tbe improvanmb at all time in a sate of ~ood eepair aad ooodi6oa; aad
co do or permit to be doue to said premises not6ing t6at ~cill alter or c6an~e the ux ~od char~eter of said property or ie an~ waj impair et
.cealen the securin- of said mortgsge. In casc of the nfusal, neglect or iaabiGq~ of tLt Mort~or to repsir and maintaia said ptoperq•. tbe
MortQaqee may~, at id option, taake ~uch npain or cawe t~c same to be made aad ad~aaa oonies ia tdat besalf Rhic? wrns sAall be secured
h. t6e lien hereof and bear iaterat at t6e ~ate of tm per cent (10%) per annum.
1G. To dcli~er the abstract or abstrsces of titlt ao~eting the wortgaQed property to Mwtss~e or its ddi~oated aQeat~ n6ics ssall ~t
al! times, Suring the life nf thia mortgage, rcmain in the poneuion of tbe MortQaQee and in t~eat of tbe foreclo~un of t6ii a~ort~aQe or aber ;
eracafer ui ritle, all richt, titie and interest ot tAe 1liortasgor in and to aa. soe6 aLstraet o~ abstraeb of titk s6aU pas te the pureAa~ er -
S
~rantec.
i 1. T6at no acaiver of anc covenant herein or in tLe obli~ation securcd berebT sba11 at aoy timt bereafm be 6eld to be a Raivet et
an~ of tde otber terms Aereof or of the note secuted hereb~. ~
t
t~. That in order m accelerate the maturity of t6c indebeedees 6ereb~ secured baau~e of t~e failure of tDe MortpQor co pay anJ t~ ;
as~essment, I~abilit., obligation or encumbance upoa said propertp as 6eteio pw~ided. it ~hsll aot be necea~arT nor requisite t6at t6e Mortsa~et t
~halt f~rst pac tbe same • -
li. Tbat if t6c I?lortgagor sLall faii, neglect or refwe for a period of tbirty i30) da7s fully aad promptlS to pag tbe amounb re- ~
qu~red to be paid b~ t~e aotr 6ercb}• securcd or the interat thereia specified ot an~ of tbe s~ o! mooel betsio refnred to a 6ereb7 K' ~
curcd, or ot6erwix duly, fulls and promptl~• to perform, emute, tomplr with aad abidt by eatb. e~e~ or aar of tbe ooveatea, oonditiea~ ~
os s~ipula~ions of chis mort~~gr, tLe praaisso*~~ note herebr secured ~ud/or tbe cooatnxtioa baa a8mment. if ws. ~bm. and ~o ptber o~ i~
au
an> of such e~•cnts, v~itiaut aoticc or demaod, thc uid aggregate sum meotioned io said promis~ory oote, las ptevww pa~ if an7. and
v
an.- and aU sucnc mrntioned 6ercin or secured herebp shall beco~ne due and pa.rable fort6wit6 or tbercafter at t6e oootinuios optioe of tbt
Aiortgagee as iuUc and compiaely as if said a~rega~e aums were oriQiwllc stipulated w be paid at snd time, an7t4inIC ia said p»misorJ
note on c~reio to t6e contrars noacit6staading, and the Mortgaeee sbafl bc mtitkd t6ereupon or tbereafter witbout ootice or demand to io-
scicure suit sc la« or in equitn to enforcr tlx ri~6ts of tbe Mortgagee 6ereuadn or uoder said pro~niawr~ mte. Ia t!t e~e~ of an7 defauh
or breach on tbe pan of t6e l~lortgagos 6ereunder or under said promiawry note, tLc Mort~e shaU ba~e tbe continuini opcion to eaforee
pa.~ment of all s?ua_~ xc~red Sereb~ bc action at la~e or br auit in equicv to foredo~e t6is moR[n8~ eit6er ot bot6. e°°c°~rmtly or a6erwise.
and one action or +uic shall tx~c sbste or be a bar to or waiver of the Mortgag~e9 ri~ht to imtitute or maintaia t6e otDer. Pro~ided said MoR-
~ ga~ee siull La~ e onl. one pa_vment aad satesfaetion of ~aid indebtedns.
i 14. 'Ibat in tbe event that Mortgagor shall (1) canseot to t6e appointmeat o~ a recdvec. tru~tee or liquidator of all or a sub~tanaal
' part of Mortgagor's s~ea, or (2) be adjudicued a baokrupt or imol~mt, or fik a~ol~mur7 Petitioo in bantruptcy~. or admit io writin~ is
~ inabilitc w pa~ in debn as tbey become due. or (3) make a~weral ari~nment fo~ tLe bweSt of ceediton. or ~k a peotion or ~wa
; eecting roorganization or arrangemmt with crediton~ oz to take adraoa~e of an~ imol~mc~ law~ ~(S) file an anrwer admittiog ttie ma-
~ eeria: allegatiom of s petition filed s~ainst the Mortga~or in an~ bankrupttc, reorQanisatiou or im~~~eoe7 P~~oi. a~6) KbO° ~
ao
ra~rn b. t6e I?Sortgagor for t6e purpo~e of effecting anc of the foregang, or (7) an~ order. jud~nent or detree s6a11 be rntered apoo ao
~ application of a crcditor or Mortgagor br a court of oompetent jurisdiction approvioi • petitioa aebn~ aPPo~ptme~ of ~ r~c~~ or trustee
of a!1 or a sub~nntial part of the Mortga6or's nseta and ~ucE order, yudammt or daree stiaU oootinue un~ta7ed and :n dteec to*,anr v~*~ ~
~ e6irtc (30) consecutive da~~s, t6t Mortgagee ma~ declarc tAc nae 6ereby ~eeured 4ortLwit6 due and pay~bk, wberenpon t1e Pnncipal of and
~ tbe inarpt accrued on the aoee and aU aher auim Lereby secured s6a11 ber~ome fort6wit6 due and pa7abk a if all of the said sum~ of moaef
were originall~• stipulated to bt paid oa sutb dat ; and tbereupon t6t Mort~a`ee wit6out mdct or demand ma~ pt+o~ecute a suit at lar. aad/or
in equin u if all monia ~ecured Aereb. 6ad matured pnor to its imticutioo.
15. That the Mortgsgee or am• persoa authori:cd bc tLe Mort~ee ~hdl 6a~e tLe ri~t m rnter upon and iospect t6e mo~tsa~ed
nrem;~es at al! reasonable times. .
't~ T3:.~~ .:m ::~r ;umc w•iuc't. n:a~ i~~ k~anc•d or ad~~ancrd hc thr Mort¢aeer to the Mort¢a¢or at am- time within tMent~• !~Ol yearc
•.~r:. tir ci.ie• ui it~i- :uci~~nc~:r• tuee•;he~~ N~ith n~tr-r~•st th~•rrur~ :~t ~hf r:itc• .~ereed uW?~ at thr ti~ne of such loan or adcan~~. shall br equally
?r~•t; N'{2F'. .ii7: fi•1~~ th~ >a~tn u•u~::n :h• o':;•i:+.,`• ~ndcbtrdnrss .ind Fr, cuUj~:t tu all thc tcrtns and prm•isions of this mort¢a¢e: pro~-id~d.
th~ .~eerec,~t< .iie:~~unt n{ p::ri. :~~.~i uuut.~ndinc .~t am tim~ sha11 t~vt excrcd -a~~ amount rqual tu one hundred and fifn• per cent i 150:;i ; of
tn~ p:u~c~pa:.~n~oun: o:icui~ll} serurrd hcreb~
I". That. if required b~ Mortga~et. tbe said Mortaa~or will pa~ tmon t~e Mortsasee, oo the ~~st dap of tac? and t~erq oo~cuti~t
~ montb, a sum equal co one-tv~elft~ of t6e annual amouat oece~ary ta ps~ d~ ta~es and a~e~meau +West tbe ss~d mortgaged premises, ~aid
~ munthl} sum tu i.e esnmated solel.~ b~~ biortgagee and eakulmd to bt an smovnt mt ks than tbt ao~ount of t~sss ases~ed ssaimt said mort-
~ ~;a~ed premisn for t6e pre~io~ car, and if further required b~ Mortgagee to pa~ ~Il iasurana premi~an in manner snd fors a~ Pro~ided
~ h~re~n for the pa~mrnt of u:a and a~sesmmts.
~ lE. T6at in t6e e•ent the loan which t6is awrt~e u p~ea to ~ecnre ia made fo~ tbe p~}o~e of finaneini atLa tbe ooo~tructio°
of ne.. buildings or the coanruction of impro.emenn and/or addiaoas to eristin~ buildinp, tLe ~Iortp~or. if required b~ tLe M~rtsajee, ~
4 c:preni~ sgrer to deposit with tbe Mongagee or its daignated agen• an amoimt of moot) ~qua1 to t~e diff~eeeaoe betweeo tbe aet proceed~ 3
~ of t6e io~n and the to:al amount, as dctemtined by t6e Mort~agee, required to fnU~ aospkte ~aid eoo~tnretion i' ~orordance ~it~ t~t P~am ~
~ and specifications herecofore aubmined bp the Mortgs~vr and appn sed by t6e Mortsasee. Said amouM of wooe~ ~6a11 be Plsced b7 tle
I?fortgagee in a"Loarn in Proce~e Accouat" in the nartx of t6c Mott~agor, and tbe saint s6all bt u~ed b~ t~e 1Sorts~ee 1~ Pa1 tbe oows+
~ charga and e:penses incurred in connection with uid oonstructioa pnor tu di~bu~rin~ a~ tiis loan. It u furt6er asreed t6at in t6e e~ent
~ said construction ~s not full. com~lned on os beforo tbe datt sated in tbt Corotruetioa Loan Asreenent or io ttit r~eot that ttit work oa
~ taid corestructior shaD ceasc before full oompletioa and suc6 eesa~oa shall eontinue fot ~ period of tm (10) da or if ~ubtantial eontinoo~ ~
~ progress shail not be msde in such comtruct~on, thm and io anr sutb e~ent tbe raid a~resate sum, principal ~ interest, meotiotxd ia raid
~ ~
~ promilson~ note, and ali monia recured hereb.•, shall become due and parabk fort6wit6 or t~ereafter..at tbe optioo of ~aid Mort~aaee- snd 'u ~
the e~ent of auc6 ces~atirm of v~ork upon ssid rnostruction for a period of un (10) da~t, or if sub~uatial aontiouow pr~otrer ~6a11 oot be ~
~ rr:ade ir. such construction, as aforcuid, t6e Mortga~et msr at in option enter inm and upon the mortgaaed premisa and canplete said wn-
struction in such mannes a~ it deems ad~i~able w~tbout any interference from t6e Mortga~or' t6e said Mortp~vr Lereb7 Onoi ~d i~+~+of ;
co the A'{ongagce full power and autborin• co mske suc6 mtry into and upon raid mort~ased prem~se~. to Mter into wcL eootraen or ar-
rangrmena ss ma.- be necessan to compiete said construction, and to ezpend anT moni~s ranainios in ~aid "Loan in Proces~ Aooa~at" wd ,
~ in addicion an}~ ~um~ of money naea~ar~ to cvmplae said oonstructioo; and any and all mooia espeaded b~ tbe Mortgagee in eonoatioo
~ wirb sucb completior. of cmntr~r_~tion in excas of the monia in +aid "Loan io Procer AeoouaP' sLall bt ~dded ~o trt uid priocipal debt aoA
ehall draK intcres! at the rate providcd in ~aid promiuon• notc, and shall be secured bY thi~ mo~e. ~nd shall be pt7abk b~ tbe Mortsapsr
~ on RemanQ-
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