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1 T!w mortpap~ u p~?wn~l a tM Moreppw M~«n. ara no conwrMU sMU b~ m~ ~Y INonpa9a ol tM W~rtua~s nNNn a~su~oW a~ny pa+t
in~~ol vinthout Msl o~uuwnp tM prw~ w~itl~n cons~nt ol tM Mat~ IM • t Matpap~ prv~s tAa vrrUlM CW?iMl. tM Q~N1lN Mrtl~d M1 fuCh CON-
v~v~nc~ MW a~wm~ and prN to Wti tM oblpatan ~vd~nc~d D1?M~~~t~ saur~d Mr~DY MY conwya~c~ d tM P~~W~ty M~«n d~fcnb*d o~
E •~v P+n ~~atwn of tA~ tKms d tlws pu~praph MaN ~na[N Mor~ppN to ace~Nr~t~ tM paym~nt of IM oWpatqn Ncu~~d M~~D~r ~nd ~N wms of
~ mor»y Ncur~d M~~by tMN. ~t tM optwn ol Mort~apN. b~tom~ dw ~nd p~y~bl~ an0 ~n d~i~ul! wMlh~ w nol th~ sam~ a~~ so dw ~na payabl~ and m
dafau~t py tM sp~c,hc tams hK~of No~fwnp hwNn co~t~~d shall b~ cw+iuu~d to const+tut~ ~ nov~tan o~ r~N~s~ Monpa~ a any wbWqu~nt ownK ol
~ t~abrbty o~ oDlp~tan undK tM prom~ssory not~ qtur~d Mr~b~r or tlut mwip~p~ by r~~wn of tM dor~sa~d assumptwn ot tM obl~auon w~~ th~ not~
sscur~d f~~. by s wDspu~nt ownK ol tM propKty d~scnb~d Mr~m
E 5. Th~t ~n tM w~nt of ~ w~t b~~np ~nsatut~d to for~clos~ th~s mortpa~, tM Mortpsp~ shall D~ ~nntl~d to apply s1 any um~ dur~np suM fo~~cbw~~
~ w~t to tM tourt havinp ~unsd~ttan tMrwf tor tM appointm~~t ol ~ r~t~rvK ol ~II and s~npulsr tM mortp~p~d property. and of all ~ents. ~ncomes. prohts.
~ssues s~d nwnu~s tMrsof, hom whatswv~r source da~ved. and th~r~upon ~t ~s hersby ~:pressly conwnsnad and ~prsed that tM court sM111onhw~tA ap-
! point wCh t~t~wK wUh tM uwal pow~rs and dul~os ol nce~wrs m I~k~ c~s~s. and sad ~ppantm~nt shall b~ mad~ by tM cou~t as a matar ol su~ct n9ht to
ine M~tpaq~. u?d wuAOUt rN~ence to tM sdsquacy o~ ~n~dsqu~cy of tM v~lw of tM prop~rty Mnby mwtpapsd. or to tM solvsncy a msolv~ncy ot tM
Asonpapor or any otMr par[y det~ndant to such su~t. TM Mat~afla Mr~by sp~c~f~calty wa~v~s tM n~At to ob~~ct to tM sppo~nim~nt o1 s rsc~v~ ~s
~ ai~iiiii~ iilli I1iii~ ~Ii~ii33~1 CW13iitt3 tliit ~diClf i~~iui~i~iwid si'?iit ai inid6 ~i in idtsiiii3~ ~u~ty ~t1d ii i rrlili~t oi i6ioiui~ n~hi lo itN iYiWi~iON ~nd
tnat tM s~m~ may ~ dons without not~ to th~ Mortyay~x.
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6. That it any proc~ed~n9s should be mst~tuted s~s~ost tM p~op~rt~r covsrW by th~s mortpap~ upon sny otAsr IHn or cla~m whetAs~ wperw~ or junar
co che Ii~n ot tMs mo~tpa~s. th~ Mortgaqes msy at its optwn immed~ately upon ~nsututwn ol wch w~t a dunn~ tAs psnd~ocy ttwrsol d~ciu~ ctus mortp~y~
and tM iod~bt~dn~ss sscursd hsnby dus and paysbl~ tonhw~tA and may st ~ts optwn p~oceed eo fo~~clos~ this mort~ap~.
7. To pay stl snd s+ngulsr tAe costs. f~ss. charpss and ~xpensss of every k~nd. fnclud~ng ths cost o( abstact oi t~tl~ to ss~d lands tound to bs con-
ven~ent or ~cp~d~snt ~n connsctwn witA any wit for tM lo~scbwrs of ths mat~a9e, snd ~Iso includin~. wMthsr tM MoRqapee ~s obl~yated to pay sam~ or
noc. reasonsWs attomsy's (ees incunsd or ezper~d at ~ny cima by tha Mwt~apss bsc~use of ths I~ilun of cM Monpa~ to psriwm. comply w~th snd abd~
Dy all or ~fy p( the Covenants. COndrtions snd stipulatwns of sa~d promifsory not0. or th~s rtwrtpa~s. in tM foraclown ot this matgap~ snd m collechny tM
amount satursd hereby w~th or w~thout Is~al procesd~ngs, snd to re~mbursa the Mort~agee ta every paymenl msde a i~curred lor any such pu~pose w~th m-
cerest (rom date ot evary wch payment at the lughest nte authonzed by Isw: wch payments and obl~gat~ons. w~th mterest tDareon ~s afor~sa~d, shaQ D~
secu~ed by the lien hereof.
8. To keep ths bu~ld~ng or bu~ld~ngs now or hereaher on sa~d Iand inwred aQainst bss a damaps by brs. sxtendsd covsra~e and otMr psr~ls. in-
dud~ng war ~isk inwranca it availabls. m a wm not leu tAan the~r fu11 ~nsurable valus at ths cost ~nd eupsnss of [hs Monga~ ~n a compsny or comparti~s
app:oved by tha Mortyagee. the policy or pol~aes to be Mtd by the Mongagse. and wch pol~cy o~ poliass of inwnnce shall havs aH~xed tMreto a Standard
N ew York Mortgagee Clause. malung all loss or bssas under such pol~cy w pol~c~es payabls to ths Mortgages as its inte-est may appear, and to dehver p~d
pol~cy or policies to the Mortgagee when iswed with ths rece~pts tw the payment ol tM premium thsrator: and m the event any sum oi money b~com~s
payable urx3er wch pol~cy or pol~cles. the Mwtgagee shsll have ths opt~on to receive snd apply the same on account ot tM indebtednsss secursd Mreby or to
perm~t the Mwtgagor to receive and use rt. or any part tharsof, tor other purposss. wiihout thereby ws~vmp or ~mpsWirp any eqwty. Gen or nflht under or by
v;rtue ot this mortgage: and the Mortgagee ~f it deems nscessary may place and pay (a wch inwrance. or aoy part thsrsof, without losm~. wa~wny or aHec•
t~ng Mortgagee's option to foreclose for breach ot th~s covenant. or any part thsreot. ot sny right or option under this mwtgugs. and evary wch payment shall
bear interest irom date tAereof until paid at the h~ghest rate authaized by law. and al~ such payments vwth intsrsst as a(oresa~d shall be sacursd by the INn
hereof In the event any loss or damage is suHered Mortgagor shall nouly Mortpsgee ot wch bss or damage within torty-eroRt (48) hours ahsr ths happenup
thereof: the tailure to grve wch noNca shall constituts a detault and the Mortgagee shaA have the rights here~n given 1w all dalaults.
'f 9. To permit. commit or suHs~ no wasts and to mamtam the improvements at all tim~s in a suts oi yood rspair and condition: and to do or permit to
{ be done to said prsmisas nott?ing that will alter or chsr?ge the usa and character of said propsrty or m any way impair or weaken ths secunty of ssid mort~sy~.
i I n case of the refusal. neglect w i~ability of the Mortgagor to repau and maintain said proparty. ths Mortgagee may. at its opiion, maks such repa~rs o~ caus~
tne same to be made and advance monies ~n Nat ~ehatf wh~ch sums sAall be secursd by the lien hareof snd bear interest a- the hiphstt rate authorusd by
Iaw
10. To detwer the abstract or abstracts of btle covering tha mortgaged property to Mortgagee or its des~gnated agent, wh~ch shall at all t~mes. duru~
t hN 6tw nf th~e mnrtnanw rwma~n in thn meanee7nn nf d.s \An.~..s.,m e,.d e..~ ..i « ~...~b.~...~ ~1.:~ ..u . r
, '~~e~' ..w ....r .......y..yu ..P .~•..u. afu'.•a.u. u. ~~~~o. a~~ ~:yu~. ~:I:~ iaw
+ncerest of the Mortgagor in and to any~such abstrect or abstracts of title sl~all pass to tbe purchaser or grantee. ~
1 1. That no waiver oi any covenant hersin or in tM obligauon secured hereby shall at any time hereaher be held to be a warver ot any of ths oth~r
cerms hereot or of the note secured hersby. or future waiver ot the seme covsnant.
12. That in order to accelerate the maturity ot the indabtsdnsss hereby secured because of the failure of the Mortpa~ to pay s~y tax asssument.
~~ab~l~ty, obl~gation or encumbrsnce upon said propsrty as herein providad. it shall not bs necessary nw requisite that che Mortgaflea shsll first pay the sartw.
13. That if ths Mortgagor shall fail, neglsct or rstuse tor a penod ot tbirty (30) days fully and promptly to pay the amounts required to be pa~d by the
note hersby sscured or the interest tMrsin specified or any oi the wms o( money herein referred to or hereby secured, or othenvise duly, fully a~d promptly to
pertorm. exscute. comply with and abids by ssch. ~vsry or any of the covenants, conditions or stipulations of this mortpaye. tfie prortwssory note heraby
secured aixi/a ths consuuction ban ap~eertwnt, if any, then. and in sither or ~n sny ot wch events, without rwtice or derard, the ~sid apflrogate wm msn-
tioned in pid promissory oote, less previous paym~nts. if sny, and any snd all wms mentioned hersm or secursd hereby shall bscome dus and payaWs
fonhwith or th~reahsr at the continuing option oi ths Mort~epes as fu11y and comptetsty as if said aggrepats sums we;e onginslly stipulated to be psid at
such tims. snythin~ in said promissory note or herein to the contrary notw~tAstanding, and the Mortps~es shall be entitled thsraupon or thereaher nnthout
notice or d~mand to instituts suit ~t Iaw or in equity to snfores the right~ oi the MortQagea hsraundsr w unds~ said promissory nots. In ths event ot any
default a broach on ths part oi ths Mortpagor henund~~ a undK ~aid promissory nots. tM Matps~ shaN haw ths continuing option to entorce payment
of all wms pcured Nsreby by action at law or by wit in puity to forecbte this mortpags. siths? or both. concurrently or othervvise, and one action w suit
shall not abat~ or b~ s bar to or waivar ot the Mortpe«ss's ri~ht to institute or m~intain th~ othsr, providsd :a~d MonQayse ~hell have only one payment and
ut~ataction of pid indsbadnea. '
14. That in tfw ~vsnt that Mort9ayor ahall (1) conssnt to the sppointment of a recsivsr, trustss or liquidator ot all or a wbstantisl psrt oi Mortpayor's
etasts, or (2) bs adjudiceted ~ bankrupt or insolvsnt. or 61~ ~ voluntsry pstition in bankruptcy. or admit in writing its inability to pay its dsbtt aa they becoms
dus. w(3) rr~k~ ~ psnsral ~stipnmsnt /or the b~nefit of u~ditors. or (4) file a petition or snswsr seakiny raorqanization or arrangement with usditors. or to
taka edvants~s of any insotvsncy taw, or ~5) fils an snswsr admininp ths material alls~ations of a petition fited against ths Mortpapor in any bankruptcy.
reorpanuation or inaohnncy proc~ediny, or (8) action shall bs taksn by ths Murtpa~or tor the purpose of eHsctiny any of ths foregoing or (7) any order, jud9-
ment or d~crss shall b~ entsrsd upon en application of ~ c~editor a Matpa~or by a court of compstant juriadiction approvinQ a petition seekin~ appointmsnt
of a recsiwr or uu~t~e of ~11 or a wbst~ntial part ot tbs Mortqa9or's assst~ snd wch order, judgmsnt or decree shall continue unst~ysd and in eHect for any
period oi thirty (30) consscutivs days, ths Mortpagss may dsclsrs the note hersby cecured fonhwith dus and payable. whereupon the pnncipal of and tha m-
terstt sccru~d on th~ not~ snd all othsr wms h~raby secund shall become (orthwith dus end payabfs ~s if all oi ths said sums ot monsy were ong~naNy
~t+pul~t~d to b~ p~id on wch day: and th~r~upon ths MoRpapee without notics a demand may prosecuts e wit at law and/a in equ~ty as if all monies
secur~d hsnby had matursd prior to its institution.
16. That tM Mortpapss or any psrson authoriz~d by the Mortgapss shsll hav~ the ripht to snter upon and inspsct ths mongayad prem~sas at all
reasonsbls times.
18. That ~ny wm or wms which msy bs loansd or advsnced by the Monpaflse to ths Mortgagor st any time within twenty (20) years from ths date
of thi~ ind~nturs, toQ~ther wiih intsrs~t thsrson ~t tM rate a~resd upon at the time of wch loan or advance, shall bs equally sscured w~th and have t1~s ssme
pnoriry ~t th~ oriQ~nAI indobtsdnsss and b~ subjsct to sll tha tsrms and prov?s~ons oi thi= monga~e: prov~ded. that the a~re~ate smount of pr~~?c~pat outstsr~
d+ny at ~~y tim~ ~hall ~ot ~xcNd (t 1. or ii ths precedmp blank ~s not comp{stsd, then an amount squsl to on~ hundad ond tltty p~r c~nt
(1509W of the princ~pal amount ai~inalty s~CUr~d hsraby sAall apply.
17. Th~c. if nquir~d by Monq~p~. ths said Mortpapor w~ll pay unto the Mortpaqe~, on the fint day oi ~ach and ev~ry cons~cutive month. ~ sum
~qual to on~-twdith oi th~ annual ~mount n~sary to p~y all wc~s ~nd ~sN~sm~nts ap~inat tM said mortpap~d Pr~mis~s. s~id monthly wm to b~ ~s-
tim~t~d ~ol~ly by MortpspN ~nd c~loulat~d to b~ ~n ~mount not I~N th~n 1M smount ot tsx~s a~wsMd pafnst ~aid mortpap~d pnm~s~s fa tM pnvious
y~~r. and ff furth~r rpuind by Mortpaps~ to pay aN insur~nca pr~miums in mann~r and torm ss provid~d Mnin for tM p~ym~nt oi uxss and ~sssssm~nts.
18. That ii this mort9s~s is in conn~ction with constructfon ban financinp, then this mort~ssps ~s wbjsct to ths Construct~or? Lw~ AprprrNnt
dat~d b~tws~n th~ Mortyapor and tM MonpaQe~, an ucscutsd copy oi which is in ths poss~ss~on o( tM
Mort~a~e and is incorporat~d hsnin by r~f~rsnce and mad~ a part Mrwf: any default by Mortpa~or undK sa~d spr~ern~nt sh~ll consutute an w~nt o(
default und~r this mortQaQ~.
19. That tM Mort9spor will on tM rsqu~st of ths Mort9syss turn~sh s written sutsm~nt of ths amount owmp on ths obli~atwn wh~ch tlws mortpap~
secur~s ~nd th~n~n st~t~ whstMr a not MortyaQor claim• •ny d~isns~s or oNs~ts tha~to.
, f. z ~.~~K413 P~~F 974 ~
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