|
� , � l. 1
<br /> �- � �-
<br /> � -
<br /> r, i �bt
<br /> � � ,.w,,.. �
<br /> .,
<br /> �b. Q Q �3 '7 8 Ei
<br /> ;
<br /> All pnyments � mado under the provinions of this moriguge or Ure note here6y secured, which mey be construed ns interest. . � , .
<br /> x6nll not, in lhe aggregate over ihe term ihereof, exceed the rote thnt mny now be Ipwtully contrncted (or in writing.
<br /> It is further agrecd tLnt in case any suit ib 6r.gun to [oreclose thix mortgage, thu Mortgagee, its representatives or axaigns, -
<br /> shnll at once Ge entitled tu the poesession ot anid premixes, end upon application therofor, lhe court in which euch action ehnll
<br /> r Le Lroughtor nny ludge of euch court, either in term time or vacation. ie hereby nuthntiztd to nppoint a rcv�eiver to lnke pa;seu-
<br /> ; sion ot eaiJ premiaed, or ta collect the rants t6erefrom, nnd to do end perform such other acts ea mny be required by the order
<br /> � o[ the court mnking the nppointment; and ruiid Morlgngor Lereby wpives nny notice of euch npplicetion, nnd consents to the np-
<br /> �t pointment o[ n� receicer upon the production of thie mortgnge, without other evider.ce,
<br /> � lt ie expressly egreed az�d understood thet the D4orlgagor ehnit proceed with the construction of n building on said premises
<br /> >t with all reasonable dispntch; nnd due diligencr nnd ahnll pey for nny nnd all estraK or mndifiwfionx thnt he mny make in suid
<br /> building, direct lo the Mortqnqee to lw diebureed, togethor with the money lonncKl or advanced by said hlorigagee in connection
<br /> '� with this loan. And it is further agreed and imdereta�d that if the wnstruction of said building be, ut any Limr., discontinuecl
<br /> �? or not cnrried on with� reasonable dispatch in the judgment of thv Mortgegee, the Mortgagee or nny holder oE the suid note and ` � � �
<br /> hiortgnge may purchaso muterials and employ workmen to protect snid building, sn ihnt thr. �;ume ehnll not euRer (rom depreda- � �
<br /> ` tion or the weather, tir tu complete said buildinq, so thnt it mny be used for thi+ pur��� tor which it is designed, under the said
<br /> � i plans and specificalionn; that nll tho aums so pnid, or expended, ehafl Ix deemed to t� advances to the Mortgugoq and secured
<br /> iry fhe naid not� and morlgago and muy be npplied, at tho option o[ the said 1�7ortgngee, or any holder of Rnid note und mortguge . . �
<br /> � to uny advances themafter becoming due. But in no event shail the Mortgagee be li�ble in eny way to complote snid building or
<br /> � �-i tn puy for the costs of construction beyond the udvnnces of the+ amounks depositecl !or snid purposes or loaned by tho Murtgngee . � .
<br /> for the construction of this building. And it ia (urther expressly agrcY:d ancl understood that if the Mortgagor shall iuil to complate � . �
<br /> ; snid building in acconlnnce with the agreemenles, blue prinLv and specificntions filed in connection with this loan or shall neglect,
<br /> fail or re[use tn pay for the costs and expenses in connectian therewith, or shnll (ail in any other ot the covenantu herein set forth,
<br /> sthen, at d�e option of the Mortgagee or ot the holder o( the note and murtgage herein referred to, the Mortgagca may declnre eaid
<br /> . loan to be in de[aulb nnd tho entire nmowd loaned shell immedialely become due xnd paynble und the pcoperly herein referred to '. � � � �. ��
<br /> � ahall�,be security for all o( the advnnces nnd expenses inc�rrod nnd made by the E7ortqagee in connection with this pro��ision. . . : . .
<br /> - Without limiting the �;enemlity of the foregoing, the Mortgagar shall hnve the right to declere thut default has been mude
<br /> and lhe entiro indebtedness hercunder to be due nnd p¢yable nt once upon the hnppening of any one of the following conditions:
<br /> . (a) The filing of uny lien againat the pruperty, whether clnimed to be prior lo the fir.vt mortgnge nr suhject themto; . � �
<br /> q
<br /> . � - � (b) The entry ot any judgment nguinst the Mortgngor, � � � � _ _
<br /> y
<br /> � i (c) The failure to comply strictly with 2oning rugulatiuns, the pmvisionv of lhe city building crx3r, or if nny stop urdet � � � �
<br /> � ; � is issued by public aulhorities; .
<br /> � (cl) Any misstntement in the lonn upplicntion; � ' .
<br /> (e) Any meteria! change in the plans nnd speciftcntiuns nat first appruvec! in writing 6y the MorlKagee; � � �
<br /> �� f ( f) I[ work bo delayed ot suspended !or n period of thirlv (30) duys withou[ cnuse ewtiefnctnry to the I�3ortgagee, nr
<br /> should the Mortg�gor fnil to cuuse work tu be prm�eculed vigorousl.v. �
<br /> i
<br /> If the A9ortgagee declares the loan to be in default under any provisionK o( this provi.rion, the Mortgagee =hall be under
<br /> ' �� � y no obliqntion to advance nny further moneys hereundrr either (or pnyment of work performed nnd materinls nitrndy fumished, or � � �
<br /> thow to Fu+ (urnishcNl Inter by tbe Morlgugoc � - - .
<br /> It is undetytoal arid agreed that the rfortgagot will use nll udvamces mnde under this mnrfgnge to erect a huilding on ` � �
<br /> said premiaes in nccmctance with the pinns, s�xciftcations and gen�ral ugrrementv filevi in cainection therewith, and herclofore � � - � . .
<br /> approved by thc Mortgag�r. . -
<br /> % It is undentowi nnd ngreed thnt nll m�terinlx delivemrl upon said premises (or the purpixe of beinF incurpomted in tho � . .
<br /> building shall be considerecJ x part of the building. � �
<br /> � Mortgagee ngrees to mnke ndvnncec under this lonn tnr Hie construction oi said building (rom time to time as ngreed �
<br /> f betwcrn the partirx heretn.
<br /> AND IT IS �XPR�SSLY AGREED AND UNDLRSTOOD that said advnnces nhall lm paid onl�- tvhrn in the judgment `
<br /> - of the r4orlgager. alt work usually done nt the stnge o[ construction when the advance is mnde pnyable shidl hnve been done in n � �
<br /> gaxl and workmnnlikc mnnner, and nll materinls nnd fixtures usunlly furnishc�l ancl instulled nL thnt time sLall havc bmn fur- � � � � � � �
<br /> nished and installed; buf the hlortgagee mt�y advunce pnrLy, or the whole, of anY instnllments before they� lMcume due, if the b1orL - � � � � � -
<br /> gagee ehall believe it advise}>le !o do so, and ull such advamces or pnymanLs shall he deemed to hsve bren made in pureuance ot �, � �
<br /> - this agreement, notliing, }��ever, in . this agmement :chull br. conxtnied us a determinntion nf thc qunlitq of lhe work, latxir � � � �
<br /> or mnlerials fumixhed by the Mortgagot or contrnctor and the \7ortgn�eE: shall Fm �mder nn duty or obligation to mnku � � �
<br /> � ,uch determinution. � � � �
<br /> - , The Dturtgagee shnll be uubroguted lu nll u( the righLv, privilegc:v, prioritics, und equities uf any lienhuldcr wliose licm m�y � � -
<br /> � hxve been dischnrRod from lhe pnxe�ds n( thiF lonn, or hy anY funde herchy paid or fumished by the Mortgagm. � � � � �
<br /> IT IS EXPRGSSLY AGREGD lhnt if the Mortgngor shnll sell, convey or nlicnnte xnid property, or any pnrt therco(,
<br /> or any internet therein, or ehull be divested ot hie title or nny interest therein in any munner or wny, whether voluntnrily or
<br /> inwlunTarily, wifhout written consent of Uie riortR�aFee being first hnd nnd obtuineci, htortFagee shall have the riqhk nt its option, � �
<br /> to declare any indebtedt�ess or obligntions secured hereby, irrespectivr. of the mnfurity date specified in nny note evidencing the
<br /> same, immediately due and paiynble without noUce, nnd said debt ahall tUereuFwn become alnolute. If the owner�hip of tlie mort-
<br /> guged property becomrs vested in u pe�non other thnn thc Morlgagor, the Morfgagee mny, without notice to the Afortgagor, deal � �
<br /> � wilh sueh succ:essor or suceessors in interest with reference to this mortgage and the debt hereby xcv,vred as with the hfortgngor. .
<br /> and may forbear to sue or may eztend time for the payment of the debt hereLy accured without discharging or in nny way afEecfing
<br /> the liobility of the originnl Diartgngor hereunde.r or upon the debt secured. � .
<br /> ] n thiA instrumenl the xingulnr includes lhe plurnl and the m�sculine includes the (eminine und the neuter and this in• ��
<br /> strument xhall be bindin� upon the tmdersigned, his heirs, person :�l represrntatives, successora nnd assigns. '«,.�� � 1>::r � '�
<br /> . y., ,
<br /> .. .
<br /> „ �
<br /> �� IN WITNESS �VHERGOF. the Alurt�;ugnr hus c�used Hiese presenLv lo be signed by its _......._ � � �;��
<br /> .. , Yrer.ident, and �`. � �
<br /> . '' �-,, r, 01 i -- , . �
<br /> , , � , . '
<br /> L its corporatr senl lo lu horeunln o(fixed un<I nitrsted by ils _ .. .. . .... . _. Secretary tlir dny nnd year,Gnt ,a}rovr wiitten. ' ;
<br /> . .. r\ .. _ � � .
<br /> . . , . .
<br /> � , �• , � . :
<br /> A'I"P73 � /,� CENT[7RY..ENTERPRSSES ,....INC . " . _ ... - . . _. '
<br /> � � ^y
<br />� . , C 1/r, .. Q � b
<br /> �„I.�.oLl.�.. �- ,
<br /> , � �
<br /> ,
<br /> , • ,, .
<br /> R ymo P . 2`rumb e b�cretnry �y� Paul '��er � �
<br /> . � Vr�3.idnnt
<br /> � �
<br />
|