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T~ ~en~it, coauwit ~r s1l~tf N Maf~! M~i1w1a1~ I~t I~~f'~\t~twH at aII l~tf lw ~ flalt OI SOOd it~~lf iRA C01~AlIWA: swd ~o
d~ o~ re~~it a Ire doae to said p~esi+es ~ot?in~ t\~t Kill sks• K da~s d~s sss a~ du~acc« d said p~Ne~~r •r i~ sr~~ ~.a. i~wpai~ or
wsate~ tre .ecuriqr of tais awre~ace. Awd i~ cak ef Me refw~l. ~Klea ~t iu6ilit~ ~i d~e ble~qa~or ~e repsi~ s~d aui~tsia •aid prope?t~,
t?s Mortsa~ss mar. u in optie~. mskc s~ ~sp~in or causc tAe sa~e to se madc, s~d aA~•s~ce ~sri i~ ~Aat beA~lf.
l. T~ par dl sad sia~lar ere a:e+, assessseatsr lerie~. liabilitie~„ aad obliptioes eE erery esture o~ ssid dcsc~ibcd propsrtr
cu~ aad everyr w~e~ due ~ad parsble aaordias to law, befere vey Ocoa~e deliequewt. ~ad a dcGrer a t~r Mort~~~ee oe o~ before March
~sv of ead re.. rc«iPn erideee~a~ ~he pansc•e of all lawf~llr is~oseJ tua Eor tbe p~ectidiq cslesd~~ year: eo iwdesoify ~Ae Aton-
asee ~pa~ ie. deieas~ fo~ sll a:es. sssesa~e~a ied cha~ tLst sa~ !e usesssd ~s dus aa~esa~e o~ d~e i~deMed~ess 'eer~ed Merebp.
aod psid by ehe Mo~tpsee. ~ritAout retard ta ae~ law 6eraofore esacted or Aereahs~ a be e~uttd i4posis~ parmest ot tAe vrbole o~
aar pa~t t6ereof upon the Mo~s~ee.
s. It is furthe~ covca~sted s~d a~reeA b~ said partia t?at i~ ttie c~eat of ~ suit beiq iw~titutcd a iorec{o~e ~Ais na~s~e, tAe
Ato~csa~ce sh~ll be c~titled to appl~ ~t ao~ tia~e pe~dies s~cb forecbsute snit to t?e oou~t 6ariss juri~dictiae thereoE for tbt ~ppoia~t
of • reeeivc~ of a!1 asd sia~l~~ tre sorqand Propert7. aod of all rs~d, iecoseb Pn6es. ianes a~d re~esnes tAereof, from wbatsoe~er
sou~oe de~ived: aod the~eupoa it is ~crebp t~ressl~ oo~coaate~ snd a~rced that t!e oourt shall fo~thwid appoiat sucr receiver wit6 t?e
uaual powen aod duaa of rcai~en ia like ases: asd ssid aPpoutmest sball se ssde b~ tbe oourt as a matte~ of strict ri~t to t6e Mort-
ta~ee. and ~+it6out refereoa to the adequaer or inadcquaep oE ebc ~alue of tse propert~ hereb~ oortss~ed, or to tbe solreaep or iawlveae~
oE t6e Mon~a~on or aa~ otYe~ parep defesdaot tu sue6 suit Tre Morttaror I~ereb~ speci6ca11~ w~i~a the rit?t to object to tAe appoiotmcat
of s~ teceiver as afq~esaid and hereb~ esp~essl~ aoascsb thst s~e6 appoiotstat ~baU be made as aa adraitted equit~ aad as •~satter oE
aM~iute ris6t to the Mortsasee aod thst tht ume mar be dwe wit~out ootia ~o t6c Mort~ator.
S. To par all ~od sio~ulac the owts. eh~rses and acpeases, includis~ auor~s fees aad ab~trad oow, reasooaW~ iacur~ed or paid
st aar tiane br the Mo~agce bccause of tbe failn~e of t6e Mortp~or to perfor~s. oompl~ witb. and abide bp each aod e~eq t6e stipulatioos.
s~eemeots, oondicioos, asd wvmasa of said prosiaor7 ~ete aad o~ t6is so:tsase. er atte~
That the Moct~a~or will keep all real aod penooal prope~ eow o~ 6ereafter enemnbered bp t6e lie~ of dus mortp~e is~ured
as mar be required frao riwe to time b~ t6e Mortsa~ee ataiast bss b7 6re. wind~oro ~nd aher 6uard~, asualtia and oootioteociei for
suc6 periods and for aot less ehaa sucb asonob as sa~ be rcquircd b~ t~e Nortta~ec a~d to P~7 P~Pd7 w?e~ due sll premiunn for sueh
ioaurana. T6e amound ot iasuranee required b~ the Mort6a`ee s6a11 be the sinimus a~eouats for w6ic~ uid insuranoe a6a11 be writtca
aod it shdl be iocumbeat upoo ~e Mortistor to maintaia sne~ addidoaal inanraeot as ma~ be neassary to meet snd eanpl~ full~ wic6
all eo-ia~urana requircmeoa oootained ia said polieies to tbe end that uid Mortts~or is not a co-insuror thereundcr. Insurancc s6a11 be
writteo b~ a oospaar or oompaaits appro~ x desi~ated b~ tbe Mo~a~ee aed all polioies aad reaewab t6ereof s`all be 6eld by tbe Mort-
ptce. All detailed desisnatiow by the Mortp~or w6ich are soapted b~ ths Mor~a~ee snd sU asreeseats betweeo Mortaasor aad Mort-
a~ee relatins to insuraoa. oow tzi~tinS or hereafter madq shall be ia writia~ and s6all be a psrt of dus mortaase asreeaoent as full~ as
tbou=6 set fort6 ~erbatio ~ereia asd shall ~o~e~a botb partia 6ereto and tbeir suoa~wrs and as~iysi Ho iica npoa aa~ of said polieid of
iaauraoce or upon any rcfuod or returo presim wdieh ma~ be pa~abk o~ ~6e eanoellation or termination thereof. s6a11 be pvco co other
t6ao t6e Mortp~ee. e=oept b7 proper eodoneseot ai:ed to +ues Pdxf ~ iPPro~cd b~ Mortpsee. Eac6 policy of insurance shall 6ave
a~ed thereto ~ Sned~rd New York Mortjs~ce Clawe wit6out Co~tribntioq, makiat s11 bss or loaes usder sue6 polie~ pa~abk to tAe Mort-
ga~cce as ia iaterest may sppear. Is tbe e~est aq sus or sum oE so~ beoooe payabk thereusder tbe Mortaagee s6a11 have tbe opcioa
cs rcoei~e asd aPPI~ the use o~ aaooaot of tLe i~debted~ea rcrsb~ seared, or eo persit tbe Mort`a~or co reoei~e asd use i~ or anr part
thereof. without thcrebp waivios or impairios sa~ equit~. liea er cisit under snd b~ ~irtue ot this mortsase. Io eveoc of loss or p6rsieal
dsma`e to the mortsaLed Propert7 t6e Mortpsur a6at1 p~e immediate sotiae thcreof b~ mail to t?e Mort~s~ce and t6e 1ltortgaaee ma~ make
P~f f~~~ mad~ proApd~r b~ the blortp~or. I~ e~eat of forcebsdre of t6is ~sortta6r or other traasfcr of title to t6e
mort6ascd propertp in eztinguishment of the indcbtedaea see~~red 6ereb~. aU ri~t, titk and intere~t of t6e Mo7pgor in and to an~ iasur-
aoa polieies t6ee in foroe shall pass to tLe pntc6aset or sraatee.
7. The MorcaaRce ms~, at ia oprion. and witbout wairia= ia ri~ht to sooelerste t6e indebtedaess 6ereb~ sceured and to forccbse
the sa~ee. par citber befort or akcr delinqueoe~ anr or all ef ero~e artain oblisation required b~ t6e terss rereof to bt paid b~ the blort-
gagor for thc pracetion of t6e mortgase securit7 or for the ooqectioa oE t6e indebtedncss 6ereb~ secnred. Ap sms so advanced or paid b~
the Mor~gagee s6a11 bc ehar~cd ioto the mortaase aooomt and Scoome ae iate`cal part t6ereof. snbjcet u al) respeets to tbe terms, oondi-
tions; aod covcasnts of the aEore»id pranisson note. and this mortsaae. as full~ aad to tLe »me eztent ss tLoush a part of t6e original
iodcbtedness eridcond br said note and secarcd b~ this morqa~e. czeeptina. bowe~er. tkat said sums s6a11 be repaid the Mortga6ee forth-
with upon in demand aod be in addition to tre reaalsr montkl~ ia~tallmmb provided b~ the mortaaae nota
i. That t6e abstrut or abstraeRs of tide ooverins t~e mortpsed propcrt~ s6a11 at all tisa, dnrioa t6e life of tlus mortgage. remaio
in the possessioo of t6e Mortaasee aud in e~ent of the foreclosure of tLis mortaa~e or other tramfer of title to t6e mortgaged propertf in
~i e:tingui~hmeat of the indebtedaess secured 4ereb~. all ri~ht. tide aad iaterest of t6e Mort6arot ia snd to an~ such abstracts of 6de shall pass
to the purd~axr or grantte.
9. That no wairer of an~ ooreaant 6ertis or of t6e obliption secured 6ercb~ s6a1) st aa~ time 6ereaher be 6eW to be a waiver
of the terms hercof or of tbc oote seeured 6ereb~.
10. T6at io order to aaeeleratt t6e maturit~ of tbe indebtedata herebr secored becawe of t6e failore of t6e Mortgagor to psy aw~
u: aax~smcati liability, obligstion or escumbrance upon uid properq as 6ercin pro~idcd, it ~hall not be ncerssar~ oor requisite t6at t6c
Mort6agee shall 6rst pa~ t6e samn
I1. To the e:ttnt of tAe indebtedaess of t~e Morttasor to thc Mortsa~ee described 6ereis or sceored ~'ereb~, t6e Mortgagte is 6erebp
subroRatcd to tbe lie~ or lims and [o t6e ri~?a of ~Le owocrs aod 6oldcn thereof of eu6 wd e~er~ mort~e, lien or aher ine~nabraxe
oa the land deacribed 6ereio whie6 is paid and/or satis6cd. in wbole or in part~ oot of tLt proacds of t6e ban described 6ertin or secured
hcrebr, and tbe respeetise licos of said mortaages, liens or otler incumbranees, shall be and ebt same aDd exh of thcm 6erebp is preserred.
and s6a11 pass to and be 6eW br the Mortp`ce 6ercin as seewrit~ for t6e indebtedaess oo t6e 1Rortss6te hercis described or hereb~ seeurcd.
to the same c:tcnt t6at it would 6are beee preserred aod ~+ould 6art beea pasied to and beeo btW b~ t6e Mortaa~et 6ad it beeo dul~ and
regularly sssigoed. traosferred, set orer, aad delivered uoto t6e Mortptte b~ separate decd of assiaanent, soasitbstandins the fact t6at
the same msy bc »tisfied aad pocclled of rooord. it beina t6e intention of t6e parties 6ereto t6at the same will bt satis5ed and anccllcd
of rccord br tbe 6olden thercof at or about the time of the rcoordin6 of this mortgasc.
12. tf anr of ~he sums of mone~ 6erein referred ro bc na prompclr and fuly paid w;cLie ~irry. (30) da~s ne~c aker ~he same se.er-
all~- rnme due aod payable, or if estA aod ereq t6e stipulations, asrecments. oooditioos and oorcnanu of »id promissor~ note and t6ia mort-
KaRe or tither. are oot dulr pcrformed, eouplied with and abidtd bf. t6e a~resatt sum mentiooed ie said promiswry note or otberwix
•ecured 6crcb~ shall bccomc due sod parable fortbv~itb or t6creaher at tbt option of tbt Mortaaree, as full~ and completcly as if said a~re-
Ra~e sum oE moocr was originallr scipuls~ed ~o bc paid oo auc6 da~. a¦pthioa in said pronissorr note or 6crcin w tbe oootrar~ ootwithstaading.
~ 13. The Mortgagor. its snoceswrs or assips, is to ooaplT wit6 the tcrms aod eooditioos of s oonstruetioo ban s6reemeot bctvreco thc
~ Mortgagor and the Mortga6ee, ao ezecutcd rnp~ of which is iy t6e posscssioo of tbe Mortsasce and said oooscructioa baa asreement is
herebY incorporated hcreia br referencc and made a psrt bereof, aud ior default b~ Mortsa~or under said oonstruttion ban a6reemcat
alhll be eoosidcrcd an evcnt of default under this mort6a6e.
li. Tt is herebr e:presslr agreed that t6e Mortgagee, its succcssors and assips rcill rclcau fran tLe lirn of this mortgs6e ae~ of the ~
las descrilxd 6erein upon which there 6as beea oonstructtd a buildina upon tde paYmcnt bp t6e Mortsa~or ta the 11tort6aaee of sutb swos as
havc bcea advaoeed br t6e Mongagee oo t6e lot or las to be releascd, toset6cr r?ith aarucd interest, procided tbat t6e MortaaEor. its
succeswrs or assi6os are aot io default uodcr ao~ of t6e terms or eonditioas of~this mortgs6e or an~ obli6ation or liabilit~ secured hcrcbr,
snd h:~•e fully canplied with the terms aod rnnditioos of thc Coostructioo Loao lgrceweot bctxcco t6e Mortaa6or aod tbe Mortpaee-
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