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2. To permit, commit o~ sulier oo wa+te aod !o msin~sin ~he imp~o~•ements st all times in a uste of Qood reps~t~`swd condi~ion; and tu
do ot permit to I.t done to ssid p~emises notAin~ thst will alter o~ cAanec tht u+e and chsractc~ ot s~id prope~ty or in ao~ .ca~ impsir o~
weakcn ~he security of this morteaee. And in ease of tAt ~efusal, ne~lcet or ieability of the Mottss~or to repsir and mainuin ~~id
~he A1ort`aeet may, at ite option, mske :uch repsirs or eausc tAe •ame to be made, and ad~•ance moneys in ~hs~ behalf.
To pay aq and singular tAe`ta:es. assessmcnts, It~•ies, liabilities, and obli~ations oi ~ve~r nature on said dexribed proper~y
each aod eve~y whcn duc aad psyable acco~dine to law. betore they Decome deliaqueat, and ta dcliver to the I?lort~agee on or bc(ore Alarch
ISih of each year a= receipis e?•idencing the psrment of all larrfully impo~ed taxes to~ the p~ecedin~ calenda~ year; to indemai(y the Mor~-
a~ee upon its dcmand fo~ all axca, asiessmeats sad eh~~~es tAu mar be asse~sed upoa this mortga~e oa the iadebtcdaes+ securfd he~eRy,
snd paid br the Mo~tgagee, without re`a~d to aay (aw he~etofore enacttd or hereafter !o be enacted i~posins psymeat o1 the vrAole•p~
any part thereof upon tAe Mort~agee.
It is furthe~ covenanted aad asteed b~ s~id partia that ip the ertat of a suit being iastituted to firtetose lhis peortAaQe, the -
111ort~a~ee shall be entetled to applr at snr t;me peadias euch foreclosure suit to the tourt haviag jurisdictioa the~eof Eer thr appointmeat .
of a receiver of sll and siagular the mortgased prope?tp. aad of all reaa. iaeomes, profin, issues aad revcaues thereof, frora ~ha~wever •
wurce de~ived; and thereupoa it is herebr e:preaslr rnveoaatcd aad sgreed that the court ~ha!! for.Swith appoint auch recei~er with ehe .
uaua! potirera aad duties of receiven ia like e~ses; aad ~aid appointmeat shall ~e made by the court as a matter of strid right to the Mort- -
gagee, aad without ~cfercace to the adequaer or inadequaey of the value of the prope~cr herebr mortgaged, or to the wlvcaey or inwlreney
of the Mo~tgagon o~ aay other pa~tp defeadaat to sueh sui[. T6s Mortgagor herrbr apecifically wsives the right to obj~et to the appointmeat
of a receiver ss aforeaaid aad herebr e:pressl~ couxats that such appoiatmeat shall be made as an admittcd equicr anA a~ a mitter of
ab~olute right co the Mortgagee aad that the aame msy be done without ooriee to the Mortgagor.
S. To pay al! and aingular the eosts. eharge~ aad e:peasea. ineluding attorney's feea aod abstcaet oous, reaaonably iacurred or paid
st aay time by thc Mortgagee betauae of the failure of the Mortgsgor to perform. comply with, and abide br each and every the stipuiatiooa,
agreemeab, coaditions. aad rnreoaab of said protnis~ory oote and of thii mortpse, or either.
6. That the Mortgagor will keep all real and perwnal propertT oow or hrreafte~ eaauabered by the lien of this mortgage in~ured
aa mar be requircd from time to time br the Mortgagce agaiost iosa by Bre. windstorm and other 6asard~, casualties aad rnatingencics for
such ptriods and for oot less than sueb amounn as ma~ be required b~ tbe Mort~a~ee aod to paJ promptlr when due all premiuma for sueh
iosurante. The aanouata of inauraace ~equired by the Mo~tga6tt shall be the minimum amounb for which aaid iasuraate ~hall be wrinen
aad it shall be incumbent upon the Mortgagor to maiataip aueb additionat insuraact aa may be necrssarr to meet sad comply fullp with
all to-ia~uraaee requiremenb coutaincd ia aaid polian to the end that aaid Mortgagor is aot a co-insuror thereuader. losuranee a6a11 be
written br a companp or companics appro~ed or designated b~ tht Mortgagee and all policies aad reoewals thereof ahalt be held by the Mon-
gagee. All detailed desigoationa by the Mortg:g~or which are aocepted br the Mortgagee ~nd all agreemeats betweeo Mortgagor and Mort-
sgte relatiag to in~uraoce. aow ezi~ting or hereaftet made, s6a11 be in w~iting and s6a11 be a part of thia ruortgage agreement as fully a~
~houg6 set fonh verbatim 6ereio aod shall govero bot6 parties hercto and thei~ aucce~son and as~igns. No liea upoa any of said policies of
iaauraoce or upoa aay rcfuad or retura Qremiura whicli mar be paysble on the caacellation or terminatioa thereof, sAall bt givea to other
than the Mortgagee, e:tept br proper eadonsment aH'ized to ~ueh po{itp and approved by Mongagee. Eac6 politr of ia~urante shall have
aAixed thercto a Staodacd New York Mortgagee Clause without Contribotion. making all fou or loues uoder such poliey payable to the Mort-
gagee as its iatere~t mar aPPe:r. ln the eveat aaJ sum or soma of mooe~ beeome parable thereuader the Mortgagee shall have tAe optioa
to reeeire aod apply the same on ateount of the indcbtcdne» heceb~ ~etured. or to pertoit the Mortgaaor to reeeive and use it, or any part
thereof, vrithout therebr waiving ar impairing any equiry. (ien or right under and b~ virtue of this mortgage. In event of lo~s or physica!
damage to the martgaged property the Mortgagor a6a11 give immediate ootiee t6ereof br mail to the Mortgagee aad i6e I~tortgagee may mste
proof of loas if tbe ~ame ia not made promptly br the Mortgagor. In event of forectosure of t6i~ mortgage or other traoafer of title to the
mortgaged properry ia e:tinguis6meat of t6e indebtednesa stcured 6ereby. all ~igAt, title aad intereu af t6t Mortgsgor ia and to aay insur-
:nce polieits then ia force shall paa to the purchaaer or graatee.
7. The MortgaRee may, at ia optioa, aad without wai~ing its right to aecelerate tAe indebttdaes~ 6ereby secured aod to foreclose
thr same, pay either before or sfter delinqueae~ any or all of those eertaio obligatioas required br the terms hereof to be paid by tAe lltort-
gagor for the protection of the mortgage accurity or for t6e rnpection of the indebtcdncss hereby aeeured. All sums so ad~anced or paid br
the Mor~gagcc shall be charged into the mortgage accouat aod become aa iategrai part thercof, subjeet io a!) resptcts to the term~, condi-
tinns, :nd rnrenanta of the aforesaid promissorr aote, and thi~ mortgage, as fullr and to the samt t:tent as though a part of the original
indebtedne.s e.•ideneed by said note and seeured by this mortgage, e=eeptiag. however, that aaid sums shall be repaid the I?lortgagee forth-
with upon it~ dcmand aod be in addition to t6e regular monthl~ installment; provided b~ the mortgage aote.
E. That the abstract or abstracts of title rnvering the mortgaged property shall at all times. during the life of t6is mortgage, remaio
in the posse~sion of the Mo~tgagee and in evtat of the forcclo~ure of this mortgage or otber traoafer of title to tAe mortgaged propertr ia
e:tinguishment of [he indebtedness seeured herebr, all right, title and interest of the Mortgagor io and to aqy ~uch aburacts of title shall paas
~o the purchaser or gnntee.
9. That no wai~er of anr coreaaot herein or of t6e obligation aecured hereb~ ~6a11 at aoy time hereafter be held to be a waiver
of the terms hereof or of the aote seeured hereby.
10. That in order to accelcrate the maturity of tht iodebtednt~a hereby secured 6eeause of the failurt of the Mortgagor to pay any
tax a~se+sment, liability, obligation or encumbraaee upon ~aid propertr as herein provided, it ahall oot be neeesaarq nor requisite that the
htor~gagee shall 6rst pay the same.
tt. To the e:tent of the indebtedntas of t6e Mortgagor to tht Mortgagee deseribed herein or xcured hereby, the Mortgagee is hereb~
+uhroRatcd to the lien or lieo~ aad to the righb of ehe owners and holden thereof of each and every mortgage. lieo or other incumbraoce
un thc land desc~ibed herein whic6 is paid aod/or aatis6ed, ia whole or ia part, out of t6e ~roeeed~ of the loan described 6erein or ucured
hercl~y, and the respectire liens of aaid mortgagta, liens or othe~ incumbrsncea, shal) be aad t6e same aod each of them 6ereby ia preserred.
and .hall pass to and be held 6y the Mortgagee hcreia as securiry for t6e indebtedaess to t6e Mortgagee 6erein dexribed or hereby secured,
to the ~ame e:teot that it would have been preserved and would hare been pasxd to aod beeu held br the Mortgagee had it been duly and
reKularly a~signed, transferred, xt over, and delivered unto the Mortgagee by aeparate deed of assignmeat, aotwithuaadiog the fact that
~he .am~ may t~e satisfied aad eaneelled of reeord, it beiag the iatention of the parties hereto that the ~ame will be aatis6ed and eancelled
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of rccord by the hotders thereof at or about tAe time of the reeordiag of this mortgage..
12. If any of thc sums of moncy 6erein referred to be not pranptly and fully paid wit6in thirty (30) days nc:t after the same sever-
all.~ come due and payable, or if tach aod ta•ery lhe stipulations, agreemeats, cooditions :nd oovenants of aaid promiswry ooce and this mort-
xaRt o? either, are not duly ptrformed, complied with aad abided br, the aggregate ~um mentioqed in ssid promiswry note or otherwiu
.ccured hcrehy shall Ixcome due snd payable forthwith or thereafter at the option of the Mortgagee; as fully and corapletely as if said aggre-
Rate ~um of :noney was originalty stipulated to tx paid oo such day, anythiag in said promi~wry aote or herein to the rnntrary notwithstanding.
13. The Mortgagor, in successors or assigns, is to comply with the terms and conditions of a rnnstruction loan agreemer.t Ixtween t6e
itortgaRor and th~ Mortgaqee, an e:ccuted rnpy of which is in the possession of the Mortgaget and said constructioo ioan agreement i~
hereby incorporated hcrein by reference and made a part hereof, and any default by 1lfortgagor uoder said eoastruction loao agreemcet
slt~ll be consideted an event of defauit under this mortgage.
13. (t is hereby ezpressly agreed that the Mortgager, its successots and a~~igns rrill release from the lien of this mortgage any of tht
lota de~cribed herein upon Nhich there has been constructed a building upon the payment by the Alortgagor to the I?lortgagee of sueh euma a~
have lxen advanced by tht Atortgagee on the lot or tots to be rcleascd, toqcther Kith aocrued intere~t, pros•ided ihat tht Mortgagor, its
.uccessors or as}igna are not in default unde~ any of the terms or conditions of this mortgage or any obligation or liability secured hereby, ~
and ha~•e fully complied ~rith the terms and conditions of the Construction Loan Agreement between the Mortgagor and the Mortgagta
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