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~ This mortpaye ~s p~~sonsl to the Monp~po. hsrn~. and no conveyanca thall D~ made Dy Mort~aoor of tM pr~m~s~s Mre~n dascnbed o~ anY Wn
ther~ot w~thoul hrst obq~m~g tM p~or wntts~ consent of ths Mortga~ In tM ev~nt Mort9aQs~ p~ws th~s wrutsn conssnt. tM p?artts~ nam~d wch con-
veyancs shall assume and aprs~ to pay the obl~yation svidenc~d by ths p~ometsory not~ s~c~~~d Mr~by. Any co~vey~~c~ ol iM propertv Mn~n d~sc~~b~d a.
eny part iM~wf ~n valatwn of tM t~rms ot th~s par~praph ihall enatt~ Monpap~~ to ~qc~li~~l~ 1M WYm~~t ol tM obl~patron t~cur~d Mab~r and NI wm~ ol
mo~sy secu~sd henby shalt. at tM opua? 01 Mortqa9ss. bscoms due and payabl~ and in d~t~uit wMth~r or not tM sarn~ sre so dw ~nd payabl~ and uf
default by tM spsc~i~c lerms hereol Noth~np hers~n cont~~~sd shsll bs co~strued to consatut~ ~ novatron or r~le~se Monyagor or any subspu~~t ownK of :
I~abd~ty or oW~gat~on undsr tM promissory note sscursd Aereby or th~s mo~tpaps by ~easo~ ot tM ~(or~aid assumption ol tM obl~p~t~on und~r tM nots ,
secur~d Mr~by. by a suDssquent owner of the propsrty descnbed herein.
5. Tha1 in ths eve~t of s w+t bemg ~nsututed to forsclose th~s mortgspe. the Monqapse shall bs ~nutled to spply at any nme dur~n9 wsh fa~cbtw~ ~
swt to tM court hav~ng ~unsdkUOn thereol ta the appo~n~ment of a rxe~ver ol all and s~nflula? th~ matpa~ed prop~ny. snd of ~II r~nts. ~ncomes.~p~obts. ~
~ssuss and revsnues thereoi. from whatsoever source denvsd. snd thereupon n~s hereby e~pressly conwnantsd and a~rNd that the court shall forthw~th sp-
po~nt wch rece~ver vr~~h the usual powsrs and duuos of rece~vers ~n hke cases. and sa~d appo~~tment shall bs mads by the court ss a msttsr ol stuct n9ht to s
~he Mortgagee. and w~thout ~eference to the adequacy or ~nadequscy ot the value o( the propsrty hsreby mort~agsd. a to tAs solvsncy a insolv~ncy ol tM ;
Mortga~ or any othsr party defendam to wch swt The Mortgagor hereby spsc~l~cally ws~vss the n9ht to ob~sct to the sppomtmem ol a rec~~wr ~s
alorssa~d ~nd hersby sxpressly consems that wch appantment shall ba made as an adm~usd sqwty ~~d as ~ m~tte~ ol absoluts npht to tM Mortpa~ and ~
[nat tM same may b~ dons w~thout nouce to ths Mwt~~por.
6. That i( any prxeedings should be ~nshtuted aga~nst the propertlr covered by th~s mortQaqe upon any other I~en or claim wh~tMr wpsnw or ~unwr
co ths I~en of th~s rtwrtga9s. tM Mortgages may at its optw~ ~mmed~atety upon ~nst~tut~on ol wch wu o~ dunng ths pendency thsrsot dsclars th~s mort~ap~
and ths mdeb~edness sscursd hersby dus and psyable lorthw~th and may at its opt~on proc~ed to for~clos~ thls mortpaq~.
7 To pay all and s~~g~lsr tha costs. lees. cAarges and expensas ot svsry kmd. ~nclud~ng the cost oi en abstract ot titb to sa~d Isnds (ound to be con•
vernenl o~ e=ped~ent ~n connection wrth any sw~ lor ths toreclosurs of tMs mortgags. and also ~nclud~ng. whethsr ihs Mortgagse is obliqstsd to psy same ot
not. ressonabls attornay's fees ~ncurred w expendsd at an~ t~me by the Mort~apes because of ths tailuts d tM Mortya9or to psrfwm, compFy w~tA snd ibd~
by all a any ol the covenants. cond~t~ons and st~pulat~ons of sa~d promissory nots. a th~s mortyags. in tM to~ecbsun ot th~s mortpags and m collsctup tM
amount secured hereby with or w?thout legal proceed~ngs. and to re~mburse the Mortgagee for ewry payment mads or mCUrred tor ~ny such purpos~ nnth ~n-
terest (rom date of every wch payment at the h~ghest rate authon:ed by law, wch payments and obl~gstions. with interest thereon ss s(orsss~d. shsll b~
secured by the hen hereoi.
8. To keep the bu~lding or bwld~ngs now or hereafte~ on sa~d land insured aga~nst loss Or damage by tire. extended coverago and othsr penls. in;
clu~~ng war nsk ~nsurance ~f ava~lable. m a sum not less than the~r full insurable value at tM cost and axpsnse of the Mortgagor ~n a company w compsnNs
approved by the Mortgagee. the uol~cy or pol~ues to be held by the MortgaQee. a?x! such pol~cy a policies ot ~~surance shall have af6aed thereto a Standard ;
New York Mortgagee Clause. mak~ng all loss or losses under such pol~cy or pohues payaDle to the Mortgagee as us ~nterest may appear, snd to dehver sa~d ;
pol~cy or pohcies to the Mortgagee wAen ~ssued w~t~ the rece~pts for the payment ot the premium therotor. and m the event any sum ol money bscomes
payable under such pohcy or pohc~es. the Mortgagee shall have tha opuon to recewe and apply the ssme on sccount ot the indebtedness sscursd Aereby a to ~
perm~t the Mortga~~r to ~eceive and use ~t. or any part thereof. for other purposes. without thereby wa~ving or impamng any eqwty. I~en or nght under or by i
v~rtue ol th~s mor~gage. and the Mortgagee i( ~t deems necessary may place and psy tor wch mwrance. or any part thereot. w~thout los~ng. warv~ng or aHec- ;
?~ng Mortgagee s opt~on to toreclose (or b~each oi th~s covenant. or any psrt thereof, or any nght or optwn under th~s mortgage. and every wch payment shatl ;
bear ir.terest from date thereot untd pa~d at the h~ghest ~ate authonted by law. and all such payments wuh mtersst as eforesaid shall be secured b~ the I~en
hereof In the event any loss or damaye is suftered Mortgago? shall noufy Mortgagee ol wch loss or damage withm lorty-e~ght (48) hours ahsr ths happsmnp
chereot: the fa~lure to g~ve wch nutice shall constrtute a detault and the Mortgagee shall have the nghts here~n g~ven for al~ detaults w
4 To perm~t. commit or suffer no waste and to ma~nta~n the improvements at all times ~n a stste of good repair and cond~t~on: and to do or permit to
be done to said premisas nothmg that w~lt alter or change ths use and character of ssid property or in eny way impau o~ wsaksn the sscunty of ~a~d mort~.
In case of the refusal, neglett or inatr~l~ty of the Mortgagor to repair end ma~ntam sa~d property, ths Mortyagee may, at its opt~on. make such npairs or uus~
the same to be made and advance monies in that behalf which sums shall be secured by tha I~en herso( and bear interest at the hiphsst rate authoni~d by
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10. To del~ver the abstract or abs[racts o/ t~tle covenng the mortgaged property to Mortgagae or ~ts des~gnated agent. wh~ch shall at all times. dunnp
~ne I~fe of th~s mortga~e. remai~ ~n the possess~on of the Mortgagee and in event o( the foreclosure of th~s mortgage or other transfsr of t~tle. ali nght, t~tls and
+n:erest ot tl~e Mortgagor in and to any such abstract or abstracts o( utle shall pass to the purchas~r or erantee.
1 1. That no waiver oi any covenant harom or in tAa obl~gat~on secured hareby shall at any t~me heroafter be held W bs a waws~ ot any of tM otMr
terms hereof or of the note socured hereby, or future wa~ver ot the same covensnt.
12. That in ordar to accolerata tAe matur~ty ot the mdebtedness heroby sacured becsuse of the tsilure o( the Mortpagor to pay sny-t~c asssssma~t. `
i~abdity, obligauon or sncumbrance upon sa~d propsrty as h1er~m prowded.~t shall not be nscessary nor rsqwsite that the ~AonQa9se shall hrst psy the sartN. ~
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13. Thet if the Morteapor shall tail. neglsct or rsfu~e for a period o( th~rty (30) days lulty and promptly to pay the amounts ~equued to be paid by tM :
~ote hsrsby secured or the intsrest therein spec~fied or any oi the sums of money heroin relerred to or hereby securad, or otherwise duly. tulfy snd promptly to
per(orm. execute. comply with and abide by each, svery or sny ot ths covenants. cond~tions w stipulat~ons oi this monyaps. ths promissory not~ Mr~by
secur~d ~nd/or the construction Ioan a~rsemsnt, i! any, tAsn. and in e~ther or m any of such evsnts. wrthout rwtiw a demsnd. ths said a9yrs~st~ sum rtan-
vonsd in uid promiswry not~. I~s~ pr~viou~ paym~nt~. it sny, snd eny ~na aM sumt mentioned her~ln or ~~cur~d hereby sh~ll ti~come du~ and pay~bN
forthw~th w thsreaher at the conanuing option ol th~ Morteaese as fully end complstely a~ it ~e~d aqprsgste wms were oripmally stipLlaud to ba paid at :
such tirt~, anythi~p in sa~d promissory nots or h~rein to ths contrary notw~thstendinp. end the MortqspN shall be snt~Ued thsrsupon or th~n~ft~r vinthout
not~u or d~mand to institut~ wit ~t Isw w~n equity to sntorce the riehts ot the Mortgapee hereunds~ or under said promissory nots. ~n tla ev~nt of a~y r
defsult a brsach on th~ p~rt of tl» MortQapor h~reund~r or undsr s~~d promiswry r?ot~. N?~ Mortp~pN shall hav~ tM continuinp option to ~ntorc~ paymMt ;
p of alt wm~ wcursd 1»nby by action st lew or by suit in eqwty to forsclos~ th~~ mortysys. eith~f a both. concurrently or ot~?ervr~ss. and ons actio~ a wit
~ ahall not abat~ or D~ s ber to or w~iver oi ths Mortflegee'a ripht to in~titute or maintam ths other, providsd said Mort~yes shall h~vs only ons piymMt ~nd
~ saUStaction of sa~d ind~bt~dn~p. .
~ 14. Th~t in th~ ~v~nt th~t Mortp~por sha1111) cons~nt to tM appointment oi a rece~ver, truste~ or I~quidator o( all or ~ wbstanasl part of Mortpapor'~
~ ass .~a 121 b~ adjudiCated a bankrupt or insolvsnt. w fil~ s voluntsry petit~on ~n b8nkruptcy. or admit in writing its inability to pay its debts as they b~com~
dua, or 13) mak~ ~ ps~sral sssi~nment (or the bsnefit ot creditors, or (41 Tile s pstition or answsr s~aking rsotflam:ation or arnn~sment with asditors. or to
~ tsk~ advantap~ of ~ny insolven~y I~w. ~x (6) file an an~wer admitting the mstsrial allsyations of a pstition iilsd s~ai~st the Mortqapor in any bankruptcy,
reory~na~tion ot insolv~ncy proNedinp, w(8) ~ction ~f?alt be tsken by ths MortpaQor for th~ purpo~e oi sHecting ~ny ot tM foreyang or (7) any ord~r, judp-
~ ment or d~N shall b~ ent~r~d upon an applic~tion of s crsd~tor or Mortpa9or by a coun o( competsnt ju?~sdiction approvinp a pst~tion ssekin~ appointrr~nt
F
~ ot ~ rsc~iver or trustss of all a p wbstsntial part of ths Mortgaeor's as~sts and such order. ]udqment or decrse shall cont~nue unstaysd and in sHect Ior any
ps~iod of thirty (30) consscutivs days. the Mongagee may declare the nots hereby secured forthwith due and payable. whersupon the principal oi and the in-
tersst ~ceru~d on ths note and a!I other sum~ hereby sucursd shsll become fonhw~th dus snd pay~ble ss if sll of the sa~d sums o( mon~y w~r~ onp~n~liy
~ stipulatsd to b~ p~~d on wch day: and thenupon the Mortpagse w~thout noUCe or demand mey prosecute a wit at law end/a in puRy as ~i all mon~s
~ sscursd her~by hsd matursd ptior to its institution
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~ 16. That the Mortpay~s or any person suthori:ed by the MortQapss shall h~vs the riyht to ~na~ upon attd inspect the manpapsd pnm~sss ~t ~II
" reasonable hmes '
18. That any sum or ~ums wh~ch mey be baned or edvanced by the Mortgagae to the Morigs~or st any time within twenty (201 years trom ths dat~
of th~s mdsnture, topether with intersst thereon at the rate agreed upon at the time ot such loan or advance, shall ba equally secured with and havs tho same
pnority as the oripinal indebtsdneas and be sub~ect to all the terms and provisions of th~s mortgage: prov~ded. that the agyregats amount of pn~c~pal outstan-
ding ~t any time sh~ll not sxce~d (S 1. or it the preCed~np bl~nk it not completed. then ~n amount equol to one hundrsd ~nd fifry p~r c~t
(16096) of the principal amount orig~nally secured hareby shall apply. •
17. That, it requirsd by Mortpagee. the sa~d Mortgagor witl pay unto the Moneagee. on the first day of each and every consecutive month. ~ wm
eQual to one-twslhA of ths ~nnual smount nscessary to pay all taxas and s~seuments aflsmst ths ~aid morteapsd prsm~ses, sa~d monthly wm to bs ~s-
timatsd wlely by Mortgsgee and cslculstad to be an amount not tsss then ihs amount ot t~xet assessed a~ainst said mortgaged prem~~es fw ths prsvwus
year. ~nd if further requ~rsd by Mortyagee to pay all insur~nce premwms m mennsr ~~d form as provided herein ta ths p•yment of uxes ~nd ass~ssm~nts.
~ 18. That ~f this mortpsqe is in connection wrth construction ban financ~ng. then this mortp~~ is wbjsct to tM Construct~on loan Apr~emsnt
~ a~~~ ,7U1y 26, 1984 betwssn the Matpa~o? ~nd tt?~ Mwtpagss. •n sx~cut~d copy oi wtuch is ~n tM pws~ss~on ol tM
Monflayee anA is mcorpo~~tsd hers~n byr re(erencs and made ~ part hsr~ot: any default by Mortpa~or u~der sa~d a~sert?~nt shall con~t~tut~ sn w~nt of
detwlt ur~r th~s mortgayt.
19. That th~ Monpaqor w~ll on the requ~it ot th~ Mortgapse (urmsh a wntt~n ~utement ot tl?~ ~mount owinp on th~ obl+~~tion which th~~ mortp~
t~tur~• ~nd th~r~m st~t~ wh~ther or not Mo~tgspor cl~~m• sny delenNS ur oHsets ihe+ato
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