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• 76- n0t4 The Mortgagee may collect a "late charge" not to exceed Five Cents 15c) for each dollar ( $ 1001 of each total monthly payment more than I5 days in arrears to ewor the extra expense involved In handling delinquent accounts. It is further agreed that in caseany suit is begun to foreclose this mortgage, the Mortgagee, its representatives or assigns, shall at once he entitled to the possession of said premises, and upon application therefor, the court in which such action shall be brought or any judge of such court, either in term time or vacation, is hereby authorized to appoint a receiver to take posses- sanl Of said premises, or to collect the rents therefrom, and to do and perform such other acts as may be required by the order . of the court making the appointment; and said Mortgagor hereby waives any notice of such application, and consents to the ape pointntent . of a receiver upon the production of- this mortgage, without other evidence. It is expressly agreed and understood that the Mortgagor shall proceed with the construction of a building on said premises with all reasonable dispatch, and due diligence and shall pay for any and all extras or modifications that he may make in said building, direct to the Mortgagee to be disbursed, together with the money loaned or advanced by said Mortgagee in connection with this loan. And it is further agreed and understood that if the constriction of said building be, at any time, discontinued or not carried on with . reasonable dispatch in the judgment of the Mortgagee, the Mortgagee or any holder of the said note and • Mortgage may purchase materinis and employ workmen to protect said building, so that the same shall not suffer from depreda• tion or the weather, or to complete said building, so that it may be used for the purposes for which it is designed, under the auto plans and speecifications; - that all the sums so paid, or expended, shall be deemed to be advances to the Mortgagor, and secured by the said note and mortgage and may be applied , at the option of the. said Mortgagee, or any holder of said note and mortgage to any advances thereafter becoming due. But in no event shall the Mortgagee be liable in any way to complete said building or to pay for the costs of construction beyond the advances of the amounts deposited for said purpostst or 'oaned by the Mortgagee for rho construction of this building. And it is further expressly agreed and understood that if the Mortgagor shalt fail to complete • i 4said building in accordance with the agreements blue prints and specifications filed in connection with this loanor shall neglect, fail or refusedo pay for the costs and expenses in almneclion therewith, or shall fail in any other of the covenants herein setforth, then, a t the option of the Mortgagee or of the holder of the note and mortgage herein referred to, the Mortgagee may declare said loan to be in default and the entire amount loaned shall immediately become due and payableand the property herein referred to shall be security for all of the advances and expenses incurred and made by the Mortgagee in connection with this provision. Without limiting the generality of the foregoing, the Mortgagee shall have the right to declare that default has been made and the entire indebtedness hereunder to he dna and payable at acorn upon the happening of any one of the following conditions: la) The filing of any lien against the property, whether claimed to he prior to the first mortgage or subject thereto; ( h) The entry of any judgment against the Mortgagor; (c) The failure, to comply strictly with zoning regulations. the provisions of the city building code. or if any stop order is issued by public authorities; (4 ) Any misstatetnent in the loan application : (e) Any material change in the plans and specifications not first approved in writing by the Mortgagee ; i (R If work be delayer( or suspended for a period of thirty ( 30 ) daps without rouse satisfactory to the Mortgagee, or should the Mortgagor fail to cruse work to be prosecuted vigorously • i• :h if the Mortgagee declares the loan to be in default. under any provisions of this provision. the Mortgagee shall be alder no obligation to advance any further moneys hereunder either for payment of work performed and materials already furnished, or - e those to ix• furnished later by the Mortgagor. It is understood and agreed that the MoHgugor will use all advances made under this mortgage to erect a building on _ said premises in accordance with foe plans. specifications and general agreements filed in connection therewith, and heretofore _ . approved by the Mortgagee. It is nndestaxd ami agreed that all materials delivered upon staid premises for the purpose of being incorporated in the building shall be considerer( a part of the building. • Mortgagee agrees to make advances under this loan for the construction of said building front time to time as agreed a between the parties hereto. F*1 t AND IT IS EXIT( " SSLY AGREED AND UNDERSTOOD that said advances shall be paid only when in the judgment of the Mortgagee all work usually done at the stage of construction when the advance is made payable shall have been done in a good and workmanlike manner, and all materials and fixtures usually furnished and installed at tient time shall have been fur- . niched and installed; but the Mortgagee may advance parts, or the whole, of any installments before they become due. if the Mort• . gagee shall believe ii advisable to do so, and all such advances or payments shall be deemed to have been made in pursuance of r. this agreement. nothing. however. in this agreement shall be construed as a determination of the quality of the work, labor or materials furnished by the Mortgagor or contractor and the Mortgagee shall he under no duty or ohlignlirm to make such determination. The Mortgagee shall be subrogated to all of the rights, privileges, priorities, and equities of any bienholder whose lien may have been discharged from the proceeds of this loan, or by any Rinds hereby paid or furnished by the Mortgagee. IT iS EXPRESSLY AGREED that if the Mortgagor shall sell, convey or alienate said property, or any part thereof, or any interest therein, or shall be divested of his title or any interest therein in any manner or way, whether voluntarily or - involuntarily. without written consent of the Mortgagee being first had and obtained, Mortgagee shadl have the right, at its option. to declare any indebtedness or obligations secured hereby, irrespective of the maturity dote specified in any note evidencing the same, immediately due and payable without notice, and said debt shall thereupon become absolute If the ownership of the amort• gaged property becomes vested in a person other than the Mortgagor, the Mortgagee may, without notice to the Mortgagor, deed with such successor or successors in interest with reference to this mortgage and the debt hereby scored as with the Mortgagor, I . and may forbear to sue or may extend time for the payment of the debt hereby secured without discharging or in any way affecting the liability of the original Mortgagor hereunder or upon the debt secured . In . this instrument the singular includes the plural and the masculine includes the feminine and the neuter and this in • strument shall be binding upon the undersigned, his heirs, personal representatives, successors mid assigns. -xa' r.„ '�- ' a% IN WITNISS WHEREOF, we have hereunto set our hands and seal, the day and year first above written, •- / P L1 the presence oft J 2 ..F i ee.� 1 Delbert D .Theasmeyer Lois A . Thcasmeyer r L - iii�� J