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2• To pe~mit, commit o~ sulfe~ no wastt aad co maintain the improvements a1 all ~ime+ in a state of ~ood repair snd rnndi~ioa;~ s~l ~o
do o~ pe~mit io I,e done to ssid premi~e~ nothinQ that will alter o~ ehaa`e the use and charactcr of •aid p~opcr~y or in aa~~ ~~a~~ impair o~
weaken tAe securily of this mor~~a~c• And ia csse of tAe refusal, neelett o~ iaability of the Mort~~~o~ ~o repsir and main~ain •sid pruper~~,
the I?lartga;ce may, at its option, make such repairs or eause the same to be made, and ad~•ance moneys ie ~hat behalf. ~ ~
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To pay al~ snd singular the ta:es. assessmcnts. le~•ies, liabilitie~, aod obligstion~ of ~vt~y aature ow ssid deuribed prope~ty
each aad every when due and payable accordin~ to law~ bcfore they bernme deliaqueat, aad to deliver to the MortgsQce on o~ before March
1S~A of cach year u: reccipts evidencia~ the payment of all lawfully impostd ts:ca (or tAe preeeding taleadar year; to iademnify ~Ae I?1ort-
a`et upon in demand fo~ all ta:es. a~ussmeaa aad eA~rges that may be assesud upoa tAis mortsate oa the indebtedness seeured hereby,
aod paid by the Mortgagec, vrithout re~ard to aay law Aeretofore enstted or hereaftct to be tasctcd impoiia~ paymeat of the whole or
aay pa~t thereof upon the Morteagee. ~
4. lt ia further covenaeted and asreed b~ ~aid parties that ia the eveat of a suit beiaa ia~tituted to forcelose this mortga~e, ~he
Afortgagee shsll be eati~led to applr at aar tEme peadias sucA forcelosure suic to the court haviog jurisdictioa thereof for tfie appointmeat
of s reeeiver of all aad sia6ular the mortsated p~opcrtr. aad of all reets. incomes, pro6ts, i~sues and revenues t6ertof, from whatsoever ;
wurce derived; aad thereupoa it is bReby e:pres~lr ooveoaated sad a~reed that the court sAall forthwith appoint s~ch receiver witA the ~
uaual powers aod dutiea of rcceiven io like tases; aod aaid appoiatmeac shall be made by tde court as a matter of strict right to the Mort- ~
6~i«. ~ w~thout ~efercnce to the adequaey or iaadequacp of the value of the propertr hereby mortgaged, or to the wlveaq o~ insolveaqr s
of the Mo~agors or anr other partr defeadaat to sueh suit. The Mo~tgagor hereDr specifieaUr waives the right to object to. the appointmeat
of a reoeiver as aforesaid aad herebr espressly coauan that ~uch iQPG~11nAlD~ iI11II bt msde as aa admitted equitr aad a• a matter ot
absolute right to the Mortgagec aad that the ~sme mir be done without oodee to the Mortgagor. n
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~ S. To pay al! aad siagular the eosts, ehargn aod e:peaies. ineluding :ttorney's fees ind abstraet cosa, reasonabl~ iocurred or paid
st anr time by the 1Nortgagee because of the failure oE the Mortg~gor to perform. comply witb, and abide bp eaeh and every the stipulatioo~.
atreemeats. rnnditioas. snd m~eaaoq of aaid pranitwry oote and of tAis mortgast. oc either.
6. 7'hat the Mortgagor will keep all rea) aod perwnal propertr now or hereafter eocumbercd b~ t6e lieo of this mortgage insured
as may be required from time to time by the Mortsagee agaiast loss br 6re. wind~torm and otAer 6asards. ea~ualties aad oontingencies for .
auch periods aod tor oot lesa than sueh amounts as may be required b~ t6e Mort~:`ee and to pa~ promptlr when due all prcmium~ for sueh
inauraaee. TAe amouata of in~urance required by the Mortgagee shaU ~e tde minimum amounb for which said imurance.. sAall be writtea
•od it shall be iacwnbeot upon the Mortgagor to maiotaia sueh additional insuranee as may be neees~ary to meet aod cowplr fully with
all co-in~uraaee requiremeata rnaaiaed in aaid polides to the end t6at aaid Mortgagor is aot a eo-insuror thereuuder. Ineuranee shall be
writteo br a rnmpany or compaaies appro~ed or designated br t6e Mort~agee and all policies aod renewals t6ereof a6alt be held by the Mort-
gagee. All detiilcd designatioas by tht Mortgagor whieh are accepted by the Mortgagee and all agreemeota betweea Mortgagor and Mott-
agee relatiag to imuraote, now esistiag or hertafter made, shall be in v~riting and shall be a part of tAis mortgage agrecment as fully as
thou~ set forth verDstim hcrein aad shall govern Eoth parties hercto aad their suceesaon and assign~. No liea upon anr of said polieies of
inauraoce or upoo aas refuad or retura premium which ma7 be payable on t6e cancellation or termination thereof, shall be giveo to other
than the Mortgagee, e:eept br proper eodorument a6=ed to ~uch pulic9 ~PProved by Mortgagee. Each poliey of imuraace shall have
a8i:ed tAereto a Standard New York Mortgagee Clause without Cootributioa. making al) loss or Iosacs under auch policy payable to the Mort-
gagee as ia interest may appear. ln the eveat anr awn or swns of wooe~ become pa~able thereuader the Mortgagee shall ha.e the option
to reecive and appl~ the same oo aoooynt of the indebtcdne~s hereb~ ~ecurcd. or to permit t6e Mort6agor to reeeive and use it, or aoy part
thereot. nithout t6ereby waiving or impairing any equity. lien or right under aod br virtue of this mortgage. lo eveot of losa or physical
damage to tAe mortgagcd propcrty tbe Mor~gagor shall give immediate notiee tAereof br mail to tAe Mortgagee and the I~fortgagee may mate .
proof of loaa if t6e same is not made promptly by the Mortgagor. In event of forecloaure of this mortgage or otbcr transfer of titte to the ~
mortgaged propertp io e:tinguishmeot of t6e indcbtedneaa seeured 6ereby, all right, title and interest of the Mortgagor ia aod.to aoy insur-
ance polieies thea ia force shall paaa to tAe purcha~er or gnntee. ~
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7_ The lNortgagee may, at ita option, and without waiving ib rig6t to accelerate the indebtedness herebq seeured aod to foreclose
the same, pay either be(ore or after delinqueae~ anY or all of thou eertain obligations requited br the terms hercof to be paid by the A1ort-
gagor for the protection of t6e mortgage seeurity or for t6e eolleetion of the iadebtedness herebr setured. All sums w ad~anced or paid br
the Mortgagce shall be charged into t6e mortgage aceount aad become aa integral part thereof, subjcet ia all rtspeets to the terma, rnndi- .
tions, and co~•enants of the aforesaid promiawn note, and t6is mortgagt, as full~ and to the same t:tent as though a part of the original
indebtedne~s evideoced by aaid oote aad secured by tAis mortgage, ezeepting, however, that ~aid •um~ shall be~ rcpaid the Mortgagce forth-
with upon ia demand aod bc in addition to the regular mont6lr installmtnta provided br the mortgage note.
E. That the abatract or abstracb of title eoveriog the mortgaged property s6all at all times, during the life of this mortgage, remain
in thc possession of the Mortgagee aad in event of the foreclo~ure of this mortgage or o[her tramfer of title to the mortgaged property ia
e:tinguishmcnt of the indebtedoess secured herebr, all rig6t, title and interest of the Mortgagor in and to any auch abstracts of title shal! pass
~ to the purchaser or graotee. `
9. That no waiver of any covenaot I~erein or of t6e obligation aceured hereby ~6a11 at anr time 6ereafter be held to be a waiver
of the terms hereof or of the oote seeured hereby.
10. That in ordcr to accelerate thc maturitT of the indebtedne~a 6erebq secured beeau~e of thc failure of the Mortgagor to pay any
~ax a.se.sment, liability, obligatioo or encumbrance upon ~aid proper~ a: herein provided, it shall aot be neees~arq nor requisite t6at t6e
htortgagee ah~ll 6rs~ pay the sama ~
11. To the e:tcnt of the iadebtedne» of the Mortgagor to the Mortgagee dc~cribed herein or seeured fierebr, the Mortgagee is herebr
+ubroRated to the liea or liena and to the righd of the owaers and holders t6ereoE of each and every mortgage, liea or ot6er incumbraace
on the land dcxribed herein whith is paid and/or satisfied, in w6ole or in p~rt, out of the proaeds of the loan described herein or ucured
hcrehy, and thc respecti~•e liens of said mortgages, liens or other iacumbranees, shall be and the same and each of them hereby ia prexrved.
and ~hall pas~ to and bc held by the 1?lortgagee hercin as seeuritr for the indcbtedness to the Mortgagee 6ereio dexribed or 6ereby secured,
to the ~ame e:tent that it would have beea preserred aod v~ould have been pasud to and been held by the Mortgagee had it bqeq.dnlr,aod
regularly as.igned, transferred, set over, and delivered uato the Mortgagee by uparate deed of assignment, notvcith~tandia~ t~ie fatt t6Lt
the .ame may t?e eatisfied snd cantelled of reeord, it being the ioteation of the parties hereto that the aame will be satisfied aad eaocelled
of record hy the 6olden thertof at or about the time of the reeording of this mortgsge. . .
12. lf any of the sums of money herein referred to be not promptiy and fully psid within thirty (30) days nen after•the,same ~ever- :
all~- comc due and payable, or if each aad everr the stipulations, agreemena, rnoditions and eoveaaats of said promiassr~ aodt aoa this,uor~-, • #
KaRe or ei~her, are oot duly performed, rnmplicd with aod abided by, the aggregate sum meotiooed in ~aid promissorj 0lte or otherMi~ye ' •
•crurcd herchy ~hall become due aod payablt iorthwith or thereafter at the option of tht Mortgagee_ as fullr and rnmplettFp~s3°i~~~id~fggrt=.~ ~
Rate .um of money ~raa originally stipulated to Ix paid on euch dar, anrthing io aaid promiswry note or herein to the rnntraty ootvr~that~ndi¢6. -
13- The hlortgagor, its suctcssors or assign., is to comply with the terms and rnnditions of a tonstruction ban ag~eement hetween tht
~lortgagor and the Mortgagee, an e:ecuted ~rnpy of which is in the possession of the Mortgagee and ~aid rnnstruction loan agreement ia
hereby incorporated herein by reference and made a part hereof, and any default by btortgagor undet said mnstruction loao agreemeat
sFhll be considered an eveat of default under this mortgage.
li. It is hereby expreasly agreed t6at the Alortgagee, its succeswrs and assigns Mil! release from the lien of this mortgage any of the
lota de~crilud herein upon vchich there has been rnnstructed a building upon the payment by the Mortgagor to the hlortgagee of auch sum. as
ha~e been advaneed by the 11lortgagee on the lot or lob to be rele~sed, together with accrued interest, pro~•ided that the Mortgagor, ita
succeswrs or assigns art not in default under any of the terms or conditions of this mortgage or any obligation or liability seeured hereby,
and ha~•e fully complied with the terms and conditions of the Construction Loan Agreement between the Mortgagor qnd the Mortgaget.
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~ ~ . . ~0~222 P~cE~914 ~~r.~ Pa{~F~~~