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to be erecterl of~ the pr.er,~ises hereby mortgaged are nat cor.~pleted
in accordance with plans and specifications submitted to the +
_ i
Mortgae~ee herein, on or bef.ore maturity, or that work on said
construction shall cease before completion and said work
shall reriain abandoned for a period of fifteen days, except
in the event of strikes, acts c,' God, or other unusual causes
reasonably veyond the control of the Mortgagor, or, if at any
time it appears in the sole judgment of the ?+ortqaaee that the
moneys availahle from the undisbursed portion of the construction
fun~s are insufficient to pay all expenses~that nave been ancl
wi~l be incurred in the completion of said buildings and
improver.lents, and the 13orrocver shall fail to pay to the Mortgagee ,
t~ithin ten (10) clays after written 8emand therefor, such `
additional sur.~s as said r•lortgagee shall have estimated will be
rec~uired to pay the expen~es of the completion of said buildings
and improvements, then and in any s~f such events, the entire
principal sum that has been disbursed on account of the Note - ~
secured by this Mortgacre less any amour.ts that r.iay have been
repaid by the ?lortgagors, shall at the option~of the Mortgagee _
at once becor~e due and payable with all accrued interest
thereon at the rate provided in said Note; and in the event
of abandonment of work on the construction of said buildings or
~ improvements for a period of £ifteen (15) days as aforesaid,
the A{ortgagee may, at its option, also enter into and
upon the mortgac,ted premises and complete the construction of
the huildings and improvements, hereby giving to the ?tortgagee
full ~ower and authority to rlake such entry and to enter i nto
such contracts or arranger~ents as r~ay be ne~essary to coraplete
the said buildings ~~tt! ~~~provements, and mone~?s expended by -
the: l+ortgagee in connection with such c~~rpl~tion of development
and censtruct.ion shall l:e addeci to the principal amount of tlie
":ote secured l:erehy and -suc~ ~~cicic•d ~imounts 5ha11 l~c 5ecuree~ b~•
thi~: ;•!ortq~~~~c~ .~nd ~h~i12 Vc pay.ihlc~ on dcm~»>c3 ~~i_th intcr~~:t
th~ r:~tc~ sF~c~ci ficd in ~:~~id *7ot~~. -
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- ~ - goo`~3 2309 r