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without waiving or affecting its option to foreclose, or
any right hereunder, and each and every payment so made shall
bear interest from the date thereof at the rate of 16 pe~
cent per annum.
4, To ge~m~±t commit or suffer no waste, impairment
or deterioration of said property, or any part thereof, and
upon the failure of the mortgagor to keep the improvements
on said property in good condition of repair, the mortgagee
may demand the ~mmediate repair of said improvements oz the
immediate repayment of the debt hereby secured, and the failure
of the mortgagor to comply with said demand of the mortgagee
for a period of thirty (30) days, shall constitute a breach
of this mortgage, and, at the option of the mortgagee, imme-
diately mature the entire amount of principal and interest
hereby secured, and the mortgagee, immediately and without
notice, may institute proceedings to foreclose this mortgage
and apply for the appointment of a Receiver, as hereinafter
provided; or the mortgagee may make and pay for such repairs
as in its discretion iz may deem necessary for the proper
preservation thereof, and the full amount of such ~ayments
shall be secured by the lien of this mortgage and shall at
the option of the mortgagee be immediately due and payable.
S. To perform, comply with and abide by each and
every the stipulations, agreements, conditions and covenants
a. in said promissory.note and this deed set
forth, which shall in all events control in the case
of conflict with the provisions of the following
items b. and c.;
b, in the letter commitment for mortgage loan
from mortgagee to mortgagor dated September 23, 1980,
as accepted and modified by mortgagor by letter dated
October 3, 1980, with acceptance of modifications
by mortgagee dated October 10, 1980; and
c. in the construction ioan agreement by and
between mortgagor and mortgagee dated ~~,~,,` ~~ ,
1981;
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copies of all of which are on file and available for inspec-
tion at the offices of both mortgagor and mortgagee. If
any of the sums_of money herein referred to be not promptly
and fully paid as the same severally come due and payable,
or if each and every the stipulations, agreements, conditions
and covenants of the above items a., b, and c., or any of
them, are not duly performed, complied with and abided by,
the aggregate sum mentioned in said promissory note, or such
part thereof as shall then be disbursed, shall become due
and payable forthwith or thereafter at the option of the
mortgagee, as fully and completely as if said aggregate sum
of money was originally stipulated to be paid on such day,
anything in said promissory note or herein to the contrary
notwithstanding.
6. To execute, acknowledge and deliver, from time
to time, such further instruments as mortgagee may require
to accomplish the purposes of this mortgage, including, without
limitation, Uniform Commercial Code financing statements
and continuation forms.
7. To deliver to the mortgagee on or before March
lSth of each year,,tax receipts evidencing the payment of
all lawfully imposed taxes for the preceding calendar year;
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