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<br /> .. All paymrnta made undtr the provisions o[ thin tnoriguqe or thc natr hereby secured, whie.h may be. rnnsfrued ns intcrest . . � .
<br /> ehell not, in the ogqregnte over the temi thereof, exceed the mle thxl mny no.r I«� Inwfully tt�ntracted (nr in writing. �
<br /> „ f� IL in further nKreed lhat in cuse nny auil is beKun to foceclose. thin mort�;�ige, the A4urtgagee, ils representativea or nssigns. � �
<br /> ahall ut once be enlitled ta lhe �waecession o[ suid premises, rind upon npplicntion therelor, the cnurt in which such action shall � � � �
<br /> ; i fw brouRht or nny judge of suc}i court, either in lerm time nr vacation, ia hcreby nulhprized to nppuint n receiver la take p�sse��
<br /> ; j sion of eaid prcmises, or to coUect thr renta there(rom, and to do und perfonn auch other acls a9 muy tm rcyuired hy the order
<br /> ot the rnurt making the appointment; and suid Mnrtgngor hereby wniveu any notice of xuch npplicxtion, nnd consents to Ihr np•
<br /> pointment of a rettiver upon the prfx3uction o( thie mortgage, withnul other evidence. � . � �
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<br /> IL ix expteaely agreed and undr.rstood that the Mortgagor ahall procee� with the rnn�truction o( a buildin.r. un wid prf•mises �� � � . � �
<br /> with all reasonable diapatch. nnd due diligence nnd shnll pay for nny and el! extrns or malificatinns 6u�t. he may make in sxid . �
<br /> 6uilding, direct � to the blortgngee to bf! disburaed, togefher with the money InaniKl or ndvnnced by �.aid f�lnrt�agre in connc�ction � . �
<br /> w:th thia loan. And it is further agrced nnd understoocl Lhnt if the construction n( snid building be, at any lime, rtiscontinued � �
<br /> or not carried on with reasoneble diFpWtch in lhe judgment uf the Morfgagee, the ModgaF.�`e or smy holder of the s&id �ote :md � .
<br /> Mortgage may purchase materials and employ N•orlcmen lo protect said building, su that ihe sam<� shiill nat sufter (rom dr.pmda- �
<br /> `.� ? tion or the weather, or to complMe nnid building, so thnt it may be used !or lhe purpcses for which it is designeYl. imder the sxid � .
<br /> .; . . t plartx nnd specifirntions; that all the sums tw paid, or expc:nded. s}�dll !xx deemed to be advnnces tn the 2�tortgagor, and serured . . �
<br /> '� � � j 6y tt�e :�aid note and mortgage und ma}• be applied, nt the option u( the st�id 11ortgagee, or any holdrr of said nnte and mortgage � � � � �
<br /> to any udv¢nces tl�ereafter beroming due. }3ut in nu erent shull lhr Mort�;agee br li��blc in any way� �o cumplete aaid buildinF �r
<br /> ` . .� t� pny for the casis of construction beyond the udvanrns n( the mnounts depositcY3 (or said purpost�s or lunn�Yl by the• niortgngee �
<br /> tor the rnnstruction oI this building. And it is (urther exprrssly agrred and undrrslcwcl thnt it the 1lortgagor shnll fail tu complete �. � . �
<br /> snid building in aceordanee with thr agrrements, blue prints nncl speciCtcations filed in connection with this loan or shnll neglect,
<br /> fail or re[use to pay fnr ihe castx nnd expenscs in connection therew�ith. or shull fail in nny uther o( the tt�cennnix herein set forih. � � ��- �
<br /> then, at thc option at the Mortgagee or iif the hnlder o[ the note iin<I morlgage herein refcrred to, the ltortgngce may dcclare caid � �
<br /> loan to be in defnult and the entire. amount lonm�l shrill immediately become due an�i pxya6le nnd the prnperty herein zc•fermd to � � � � .
<br /> s}iell be xecurity for nll uf the advunces nnd espcnses incurred and made by the 1] ortgngre in arnnection with this pr�rvision.
<br /> . Without limiting the K�'netality uf the (oregoing, the Dtortga�;cv� shall have the right to dreinre that delault has M�n-n made � � �
<br /> and the entim indebteclniss hen+�nder to he due and pi3yablc at once upon thr happenin�; uf any one of thr follotving cnnditions: �, �
<br /> (a) The fling of any licn ngainst the pmperty, wh�>ther claimed to he pri�rr tn fhe first mortga�r or subjn�t thrmin;
<br /> (b) The enlry o[ ang judgment agninst thc '�fortga�or, � � .
<br /> '�� �� ��i (ci 1'he failure to comply stricUy with zoning rrgidatiu�u. thr provisions oF the city huilding i•cuic. or if r�ny stnp order � - �
<br /> is issued by public authorities; � � � .
<br /> , (d) Any missWtement in the Inan applicntion: � . � .
<br /> (e) Any mUterinl change in the plans nnd specificntions not first :ippro�•ed in H�riling by tlie \1ort�a�:ee; � - . �
<br /> ( (1 If work be delaycYl or xuspended (or a periocl of thirty 1 �;01 d:i}•ti tvithnut rausa .atisfnetory to thr '�tnrtgagre. nr . � �. � .
<br /> should the MorlgaKor fiiil to rause work to INr prosecut�Yl vi�orousl}•. �� � �
<br /> ,�. �� . I( the MortcnKee declntes the lonn to he in default under any pmti�isions ot this pro��ision. the M�rtga�:ee shall b�> unrier . . . .
<br /> �_ no obligation to ndvance ttny furthrr moneys herc•under eiiher for pacment of wnrk p�•rformed and mnt�vials alrrndy fumishrd, or �
<br /> � th�+se ta be (urnished ]nter Uy the \lortg�gor.
<br /> �� � It is undetstood and n�;mcd that the hlortFagor H�ill usi- all advnna� madr und -rr thi.: morl�;age tu rr�•ct n 6uilding on
<br /> �� said premises in accordance K�ith the pians, a�xcifications and generai n�rmmi�nls fil�sl in cnnnoction then•with. and hemto(ore .
<br /> ' upprovec! by the MortQa(;ec.
<br /> ,. It ic underalood and agmed that all materinlv deli��cre.d upon siid premi<es fur thr purpu=r o( b�•in� inrorpor�trd in the �
<br /> building shnll be considereci n part nf thr buildinF. . �
<br /> Diortgagee agrees to make advances under this loan for thr construction n! said bailding from timr to tirnr as aAreed
<br /> . be[wnm the parties hereto. � � �
<br /> AND IT IS E7iPRESSLY AGREED AND UNDrRSTOOD thnt c�id advanc��s shall he paid only �� hrn in thr jud�,Tnent
<br /> � of the Mortgagee all work usunit� done at the sLn�e of construction when the ud��ance is mude payiibi�• .hall h�vi• hecn dnnr in n
<br /> � �;o«i and workmnnlike mnnner, nnd nll mnterials and fiztures uruallv furnishiKi :md installed nt that time �tiall have h`rn fur- �
<br /> � nishrc3 und installed; but lt�e 1lorigngee muy advnnce par4s, ur thc� whole, af any installmenls M�fure thry b�cumt� due, i( the Atort�
<br /> ' giuee shall beliiw�e it advisa6le tn do so, and all such :f(IVIIR[Y'S or pa��ment., +hall Lr drrm�•d tn hace txarn made in pursuanrn o[ �
<br /> this ugreement, nothing, hmvr��er, in this agmement shull tx• construi�d ae a detrrminatiun n( thr• qualitv o[ tFc• work, lnbnr .
<br /> � or materials tumishcvl hv the Mor[�agor or enntractor and the �tortpagr�• .hall fN• undr.r nn dun' ur � �bliti:rtinn tn makr
<br /> � ,❑ch drlerminntion.
<br /> �fhe �1orlK+iKM' shall be suhrogated to al1 ut thr rights. privileg�s. priurilics. and eyuitii� uf any IicnhuWrr whose lirn mep�
<br /> � ha��e tK�en discharged (rom thr pnx<rds n( this loxn. or h�� any funrfs hereby p��id or furnished by the htort;;sgce.
<br /> IT IS EKPRESSLY AGREED that i( the lfortgagor shall sell, rnm�ey or aliennte �aid property, or nny pnrt thareof,
<br /> ' or nny intemst themin, or shnll he diccsted ot his title ur any interest theroin in :my mFinner or wny, whether ��uluntarily or
<br /> . imroluntnrily, x•ithout written convent o( tihe Dlnrtgagee 6ein� first had and o6Lnined, D1nrt�;a�ee sh:dl hace the ri�;ht, at iU option,
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<br /> . to declare any indebtedness or obligntions securrd herc�q, irnspective o( the maturity d:+te specifird in any ncte ecidencing thc
<br /> � same, itamediatelp due and payable w'ilhout notirn, nnd s�id debt ehnll thereupon ix•comc vinolute I[ the ownership of the mort-
<br /> ' gaged property beeomes �•estcd in a person ofher than the '�fottgagor, the Tiort�agee may, �cithout nvtice to thr D9ort�;ngor, deal
<br /> �. with such succesvor or succesu�ra in inferest with reference [o this moriK��F� und the d��bt hereby secured ns with the Dtortgagor,
<br /> nnd mny forbear to sue or may rzfend time for the pa}�nent of the� drbt h�rrby secun•d k�ithout dischnrtiin� or in any w'ay utTecting .
<br /> the linbility of the originnl Tfort{;a�or hereunder or u�wn lhe dc�bt srcund. �
<br /> , ; ry .�..+, ;.
<br /> � � In this instrument ihe singular includis the plural and the maxuline indudes the (emininc und the neulrr and thi� in- � � _ �y ,�.`-�
<br /> vlrnmrnt nhall be bi�iding upon the undrrsiFned, his heirs, p�rwn �il rrprr�amtntivec, surcrssors and ati�i[;n�. � '.
<br /> IIN �i7TNF,5S WFiERF.CIF. N�e have hereunto set our hnnds and sr�l, tho day and y��ar first afx�cr �rritt��n. � ,
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