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<br /> � All }wYmenls made unJer 4�e provisiony of fhis murfgtige or lhe rwlc hereLy secured. �cbich may he cu�utruv<i as inten•el.
<br /> shxll tiot, in t}�e nqgregnte over ihe tenn !herenf, exceed the rnte Ihut may nox• IM Itiwfully mnlractcul tor in w�riting.
<br /> ' It is further ngrcr.d thet in cuse am• suil is txgun lo focecloxe thia mortgnge, the Aiortgagee, ifs rrpresentntiri�s or ua�igns. . �
<br /> ahnll nt once be entitled to fhe �wssession o( suid prrmises. and iq�on appliculion thereEur, the ttwrt in which such tiction shall �
<br /> �� � be brought or nny judge o! such court, either in term time or vacatimi. is herel�v au:borized to np�wint a rncei�•er to tnkr pos,v5� �
<br /> � sion of said premises, ur ro collrct the renlv therefrom, und tu do and pertorm such other acta ss may be requirrd b}' Ihr order �
<br /> � of the rnurt making the ap�wintment: end snid hlurtgugon c�rehy wuive, any notim nf such aPP�ictitina and cnnsems w ihe ap•
<br /> � pointment u( a receiver upon the prcxiuciion ot thiv mortgage. without other evidence �
<br /> It is eapres9ly egreed and understoal qiat Q�e hlmtgagor shull procecd w�ith the nins:ruction oi a hui!dSnc nn said prrmisrs
<br /> I with ntl reasonnble dispatr.h. and due diligence nnd shail pay for any iind all esfr.ti� or m�xlifications ihat hr may makc in suid
<br /> , buildinq, direct to the hlortgagee tn �� disb�rsed. together w'ilh the money Inannl or advnncaKi b�� v:iirl Afortlagee in aron�ction .
<br /> with this loan. And it is turther agmed and understaxi thut it thi• construction of snid Uuildinc tm, 3t nny umr. �t�uYmtimuKi � �
<br /> ot no! cxrried on x�ith rea5onnbie dispatch in the judKment ot the '+Surfgngce, the A7nrtEn��v� or any holdrr o( tiu• sxid nntr and
<br /> htor�gage may pumhnse mnterinls and employ w�orkmen tn protert v3id building. so thnt ihc same ahutl n��t suffer from deprcrin-
<br /> ', tiun or the weuther, or to complete sxid buildinR. so th+ll it mny be� usc•d for thr purpcn��s (or which it is desi�;nrYl, undrr the suid
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<br /> plans and specifications: thnt all the sums so p+iid, or ex�xndi�d, shsll ix deemed to I�e ad�•nncrs to tLc• �tort�agur. and s�ruresl
<br /> ; by the �id note and mortgage snd mu}� be npplied, at the option o( the c�id +�9nrtFa�ee. or nm� holJer ot :nid not�� und mortgage � .
<br /> . to any ndvances themaflrr becoming due F3ut in no ecent shssll th�� �lortgnger be liaht�• m anr �ea>- to rnmplete .aid buildin� nr .
<br /> � to pay (ar tl�e mcts of ecrnstn�ction tx�yond the t�dv�nce; ut tt�e :unoimts dep�riteNt for said pur�w;e. or I�wnrd 6p tn�� 9fort�:ngi�r
<br /> � for lhe rnnetruction o[ this builcling. And it is furiher expmssl�• ngrr�rd and understaHi d�nt if thr• Aturt�agor shali fail tn c<.mPlrie �
<br /> suid building in s�n�rdnnce with t.he agnrmrnts. blue prints and spe�ifications fi�rci in cunnc�ctiun x�ith � lii= !m�n ur shall nrglect.
<br /> � � f�ul or m(use to pay for the ccats and expens<�. in connertion therrwdth, or shatl tait in nny� other o( the cm�rnants hercin set forth, ,
<br /> - Lhrn, at the option of ihe �lortgagea or o( the holder u( the noto �md mortgagc hrrem reErrred to. the Stor��agee m�y dr•clan� said
<br /> loan to }x in default and the entire amount InaneKl shall immediately h�rome duo :md p�ynhlw und thr pruportp h.-n•in re?ermd to
<br /> � shnll hxr securitr for ;{Il oI the adr�ncrs and <-xpensis incurred and made 6�� tho �tort �a�:r•e i�e rnnnectinn with thi; pruvisSr.n.
<br /> _ R�ithout limiting the genernlity of the foregning, the ltort�agit� �hall htire (he righl ;n �;rclarr thn! d��fault ha; tx�en msde �
<br /> ` and the entim indeb�edness hereunder tu F�r due and par�able at oncr upon thr hiipprnina ot anp onr ��( � hr fnit� �w�ing rnnditScr.s: �
<br /> - (nl 1'he filing of uny lien ngain�t the prnperty. wiirthor clainuki to tw prior tn th�• tin� mortFa�e nr -uhi�K't !hrratn:
<br /> - ( b) The entry u( anp jud�nent ngxinst the \Snrt�ngnr: .
<br /> � fc) The failure to cti�mplp strirtly a�ith xnning rr�gtdnliuns. Ihr provisiuns o( tnr crty huildinc r«i��. or if anc stnp nrder �
<br /> is IS9pP1I h}' �II�IIC IIIII}tOC1I1F5:
<br /> �� (d) An� missWtement in the loan rapplication: . �
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<br /> - (e) Any materisl change in the plians mid s�N-cificatiun ; nnt tint approrrd in ��ri� fn� h�� the .`�lart_a;:rr: �
<br /> . ( f) It work be defaycvl or suspendid for a perial of Uiirl�� i301 dacs w�ithout causr c�tisfertnn� to rhr \tort _a;;re. nr .
<br /> - should the \lortgugor tnil to rause «�ork tn M� prmrcuted ��gornusly. �
<br /> - I( the blortgagee declares the loan to fH� in di�fault under any prnri4ions o( thi. procision, tho Atortcse��e Ehail Ix� under �
<br /> - no obliFation to advnnce any (urther moneys hereimder either !or p�aoment of w•ork pe•r(ormed nnd r.:alrri::!s slrrndr furnish�r?, -r. � - �
<br /> . th�xe tn he (nrnichcv3 Inter bp the \lort;;ngor. .
<br /> � �. It is understnod and n �meci thnt che \fortea vr �+�ill �r.,c nll nd��anc��; mmte un.i��r thi> mnrt ;;:i�e tn rn,
<br /> F ti � rt a Fn�ildin� on
<br /> � yaid prrmiux in accurdance With ihe plans. s�nrifications nnd gF�neral a;:rEwnuncc fil�Y1 ia e���nn��<�nnn � F.rrrw�rtii. nnd h��r:anfore
<br /> � nppmred by the �tortg��a�.
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<br /> �_ - It is understooci and agmed that all mutrrinle drlicered upon .ciid prrmi=.•. fnr ; hr pnrpu:r �d h��in� inrnrpnratcd in the
<br /> building shal! be considerrd a part o( the huildin�;. � ,
<br /> ?�fortgagm ngmes to m�ke acicsnce, under this luan fm thr runstrueunn nf :nid huildir ; frem timr ta tim<� :is a;;med
<br /> brhvmn the pnrties herrto.
<br /> '� AND IT IS F.SPRESSLY AGREIiD :1tiD UNDERSTOOU tLat .:,�id adeann•� .hall lH• pnid r.nh� �+-hrn in :::c jud�,mient
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<br /> .. o( fhe �1ortRagee all µ�ork usuallp donr st the stn�;e ot rnnstmction �chen the ndc:mcr is marie p:�qablr �hnll ha� e In��m donr in a
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<br /> � Rood and workmanlike manner, nnd ull metrrinls and fiatures u�ually (urnish�Yi and inst:illt��i at thai rimr sh;ail h:r;�• b�,•n tur
<br /> nishc�l and installed; hut tiir �1urt�agee map ��dv�ncr pnris. or ihi• u�iiolr. o( mic in�tallment, M•fore thrc Iu�rr.m�= due. if the 11on �
<br /> �. gaqm shall brli��e it advisnble to do so, und :dl such ad�•unces or p:�cmonts shall In• d��rmrd io L•,ir�• le�en m:id�� in �runuance ef .
<br /> u � Ihiv r�rcement, nnthin�:, ho���e•eer, in this a�recment shall Ix• cun.trurd as a drterminatian ���f th�� qu:ahtc nt thr �..ork. I:iM+r
<br /> or mateiials furnishrd by the A1ortF�Fnr ni rnntrnctnr �nd � hr AInrtp:q:�•� :hall 'ta� unJrr :n � dnic � �r � .I �li �ntion t„ mak�•
<br /> surh d<•term3nation.
<br /> The 11ortFagre ahall b<• xubro�ated lu nll ai the right,. Privilr�;cv. prioritic,. and eyuitiis uf uny' lirnholdcr H�ho=�• lirn nm)'
<br /> � 1m��r bern discharged from dir prcM��rJ� o( thi� I�kin. ur In� nnp timd, herrhv �aid nr furnis}�ed L�� thi• ltort�aFir.
<br /> � IT IS E.l'PRESSLY AGRL• ED th�t if thr ?�lortgn�or sh�ill =i�11, concc>' or nlirnalo said pruperh•. or �m� part thrrmt.
<br /> � or anp interest therein, or Fhall fx� dive=hY1 of hia titlr or nnc inlrrrst thrrrin in nnc m�nner ur ��:�}'. «�h�•ther rnlnnt:irih• or
<br /> . introlunfarily, w'it}�out w•ritten ev>a��nt of the '�tort�:x�m boin� first }:ad and nblaini�cl, �fnrtgac�r ,L:ill hae�� the ri�ht, at itc opNon.
<br /> �. to declnre nnp indebtednes� nr uhti�ntinns secumd iu�reby, irrespn�tirr nf tho nu+hirity dnte s��•rified in an>• not�� ocidPncing the
<br /> snme, itnmedintely dae und payable ���ithuut notice, nnd �:iid dc6t �hall thercuEx�n }x�come :dxolutr. It thi� a�cner�hip o( the mott-
<br /> qnged property bi�romes vicetnl in :i ���on uNier than the \1ort ;,vgor, the ]tort�^�;tm may. aifhnut noticr- to thr Alnrtc:�Rnr, de;tl
<br /> with auch successor or turrrisors in internct «�ilh refrrrnce to thi; mortgaFe nnd lhe• d��bt herc•Fy s�rumd a+ �cith the hlort�a�or.
<br /> � ¢nd may forbear to sue or may extend time (ur the �i1�2nrnt ot the drbt hrn�by �rcur�•d �vithnut di�rh:�rging or in an}� �ray aRirtinc
<br /> : the linbility of the oririnal \iort�n�or h�•reunder or u�n the d�•bt sn�vr�.
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<br /> � In this instrument the sin�ular includes the plurul und the masculine includrs [he (rminine and thr ncut�� r nnd thi� in- " . � �
<br /> �trnment sMll M bindin� upon tho undrreigned. his hrirs. irrr�on�l repn�entnticrs. cw•cFi<nrs and a?•iCns. � � ��
<br /> LIN WITtiESS R'F {ERF.OF, we hner hereunto set our hnnd; aud-�rfi�, thr dac and yrar !i;=t alv;� c- �rrittrn. � '
<br /> . In the prese - of: �, � � � �� > � � ��
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