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materials to be furnished in connection with the
construction of the improvements.
Article II -
Events of Default and Remedies
Section 2.01. If one or more of the following Events of
Default shall happen, that is to say:
(a) if: (i) default shall be made in the payment of
any interest on the Note secured hereby when and. as the same
shall become due and payable, and such default shall have
continued for the period of time referred to in the Notes or
- (ii).default shall be made in the payment of the principal of `
the Note secured hereby when and as the same shall become due
and payable, whether at iaaturity or by demand or accelera-
tion, in each case, as in the Note secured hereby and this
Mortgage provided; or (iii) default shall be made in the r
payment of any tax within the time required by Section 1.07;
or (iv) default shall be made in the payment of insurance k
premiums within the time required by Section 1.09; or
(b) if default shall be made in the due observance or
performance of any covenant or agreement on the part of
Mortgagor contained in Sections 1.01, 1.03, 1.08, 1.09, 1.16
(b) or 1.17, other than the non-payment of monies, and such
default shall have continued for a period of twenty (20) days
after written notice thereof shall have been given to
Mortgagor by Mortgagee; or~
(c) if there is a default under Section 1.16 hereof;
or
(d) if default shall be made in the due observance or
performance of any other covenant or'condition on the part of
Mortgagor in this Mortgage contained or in any other
agreement delivered in connection herewith, other than the
non-payment of money, and such default shall have continued
for a period of thirty (30) days after written notice
specifying such default and demanding that the same be
remedied shall. have been given to Mortgagor by Mortgagee; or
(e) if by the order of a court of competent jurisdic-
tion, a trustee, receiver or liquidator of the mortgaged
properties or any part thereof, or of Mortgagor, sha21 be
appointed and such order shall not be discharged or dismissed
within sixty (60) days after such appointment; or
(f) if Mortgagor shall file a petition in bankruptcy or
for an arrangement or for reorganization pursuant to the
Federal Bankruptcy Act or any similar law, federal or state,
or if, by decree of a court of competent jurisdiction;
Mortgagor shall be adjudicated a bankrupts or be declared
insolvent, or shall make an assignment for the benefit of
creditors, or shall admit in writing its inability to. pay its
debts generally as they become due, or shall consent to the
appointment of a receiver or receivers of all or any part of
the mortgaged properties] or
(g) if any of the creditors of Mortgagor shall file a
petition in bankruptcy against Mortgagor or for reorganiza-
tion of Mortgagor pursuant to the Federal Bankruptcy Act or
any similar law, federal or state, and if such petition shall
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