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<br /> � � All paymenW mede under Ihe provisione at this mortKage or U�e note hereby secured, which mny be coru�trued u. inlerest, � - , ,
<br /> ' 9IIflII not, in the nggregate over the term therrof, exceed the rate thnt mny now be Inw(uily contrncted !nr in wriling. -� � � � �
<br /> � It ie fudher agreed thnt in cflse any euit ix begun io (nreclave this mortgnge, the T9orlgagee, ils represr.ntalives or assigns. - . �
<br /> shall nt once be entitled to the �wssession of snid premisea, nnd upon npplicatimi therefoq the court in which auch action shnll � �
<br /> � be brought or any judge u[ auch court, either in term time or veeation, is hereby nuthotized to appoint a receiver lo tnke posscs-
<br /> xion of suid premises, or to collect the rents theretrom, nnd lo do and perform such other actv ¢s muy Ix reyuired by the ordcr
<br /> ot the court making tl�e appoinlment; nnd snid Mortgagor here6y waiv��s ¢ny notice of such applicatimi, nnd consents to the np-
<br /> ' pointment of n receiver upon the production of this mortgage, withoul olher evidencc.
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<br /> � It is ezprex9ly agreed and understood thet the Mortgagor shal! proceed with the conslructiun of a buildin?; on said premises � � . �
<br /> � with a11 rea.wne6le dispatch, and due diligence and shntl pay for uny and all eztrns or mnrlifirntiuns thut he may make in suid �. � � . . � � . � �
<br /> �. building, direct to the Modgagee to be disbureecl, together with ihe money lonned� or advnnced hy u�id Morlgagee in connection � - � � � � � � .
<br /> �� � � with thia loan. And it is [urther ngreed and understoal that if the construction of said building be, at nny time, discuntinueci , � , � . � . �
<br /> �� or not ca?ried on with reasunable dispatch in the judgment ot the MortKOKce, the Mortgagee or nny hotder o( thr said note and - � � . �
<br /> ' Morlgage mny purehn.se materiula and � employ workmen to protect said building, so th�t the sume shnll not su�Ter from depredu- ' � . � . � . . �
<br /> � tion or the weather, or to complete said building, so thnt it mny be used for thr purpuscs (ur which it is designed, under the said � . � � . �
<br /> ; plans and apecifications; thet ad( the sums so puid, w expended, shall be deemed to he ndvances to the ?�lortgagor, und secured
<br /> ; � by the said note and mortgage and� may be npplicd, et the option of the said htortgagee, or any holder ot said note and mortgage � � � �
<br /> � � �. i to any udvances thereutter 6ecoming due. Bi�t in no rcent shall the Mortgugee be linble in any wny to complete suid building or � . � . � . � �
<br /> ' � i to puy (or the costs of �vnstruction beyond the advances of lhe amounts deposifecl for said purposes or Inaned b>• thr Mnrtgngee � � � � �
<br /> E for the cotistruction o! this building. And it is further expressly agr��d and understaxl tl�at i[ the Mortg�gor shal! fail to complete � � � � �
<br /> 4'�` � 1 snid building in ncwrdance with the agrxmenLv, blue prints and sperificnlions filed in cotmeclion with lhis Iwin or shult neglect. � � �
<br /> � � � fail or retuse to pay for the costs and expenses in connection lherewilh, or shttll (nil in any other of the cot•enanls herein set forlh, � � �
<br /> 4��'�� � then, nt the option of the Mortgagee w bf the holder of the note and mortgage herein m(erred to, lhe hlortgagee may decfare said � � � �
<br /> ,�; loan tu be in default and the entire amount lonnecl shall immediately become due :md pnyzible� and the property herein refetrc•d fo , � . � � � � �
<br /> shnll be xecurity for ulf of the advances and rx��ensi�s incurrrd und made by the T1ort�;�geo in c»nnection H•ith this provisie�n. � � - � � �
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<br /> ; Wilhout limiting the genernlity o[ the foregoing, the D4ortgugm shnll have the right to d��clnre thxt. de(ault has been madc
<br /> and the entire indeblr.dnc�ss hereunder to he due, and payable at mirn upon the happening of ony nne of thc� fnllowin�; conditions: � � � � �
<br /> (n) The 51ing o( any lien ngainst the property, whelher clnimed tn he prior tn the firv� mort�agr, nr subj�rt ihereto: � � � � -
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<br /> (b) The entry o( nny judqment ngninst the Mortgngor; - � . . �
<br /> � (c) The failure to cumply strictly with zoning regulationc, the provisions of the city Imilding c�wle, or i( tmy stnp order . � .
<br /> �` is issued by public authorilies; ' . � . �
<br /> (d) Any misstatement in the loan applicatinn: �� : � � �� �
<br /> (e) Any mnferinl change in the pluns and spcv�ific�tions not first apprnved in writinK hy the Morl�;agF�r; � . �. � � . .
<br /> �f . �i . �� . .
<br /> (f) If work Ixx delnyed or suspended for a perial ot thirty (30) d:iys w�ilhout CilIlSP SII�IV(aclon• to the Morlga�ee, nr . � � �
<br /> -i� ` should the Mortgugor fail to cause work to be prosecuted vigorously. � � � �
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<br /> ,;,�� . ' I( the Mortgugee declares the Loan lo be in default under any pro��ision, o[ this provision. the �f��rlga�ee shull be under �, �
<br /> � } no ubligation to advance any further moneys hereundrr either for p:ry•men[ o[ wnrk performerl and m:�trrinls .Jrcady furnishcd, or - � � � � �
<br /> those lo be furnished luter by the b4urtgagoc � . -
<br /> �r. � + It is understoai nnd ngreed lhnt the Dlurtgugor will use nll advancrs made und�•r lhis mortgagr tn erer.t a building on � � �
<br /> � � stid pn�mises in accordance with the pinns, spc:cifications nnd gener:il agrev�ments filcvi in connrctinn thrmwith, and hrr�tofore � �
<br /> approved by the :vtortgngee. � . �
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<br /> ��. , It ie understood and agreed thut al! mnterials delivered upon v�id premises fnr th�� purpose oi brin�; incnrporeted in thn � � �
<br /> . bvilding ahall be considered u part n( the building. � . . . �
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<br /> �� Mortqagee ¢grees lo make advnnces undr. r thie loan for th� construction nt snid building frnm timr tn iime n5 ugreed � � � �
<br /> between the parties herr.ta � � �
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<br /> ; AND IT' IS EXPR�SSLY AGREBD ANU UNDERS'f00D thnt said ndvnncrs shell Ix paid onlq wh�n in the jud�nent
<br /> n � of the Mort�,aqee nll work usually done at lhe stage of cortctruelion when the nch�anm is made• payuMc• shiJl havr kx�en done in a �
<br /> - gncxi and workmpnlike manner, und all mnlerinls and fixtums usuully (urnishc�i and insGdled at that time vh:�ll h�v�� b<vm tur-
<br /> j � ' nishcd and insWlled; but thc �tortgagee muy advanrn parts, or ihe whole, of any installments tmfore they brcume du�, if tho �Snrb
<br /> gagee shnll belicwe it ndvisable to do� so, and all such advances or pnyments shnll br dermed to have fxen made in pursuance of .
<br /> ,� � this ngreement, nolhing, however, in lhis agrcement shall be con�trurd ns u determinntion nf the quality o( the work, Inbor
<br /> or mnterials furnished by the Mortgagor or cnntractnr and th�• MnrtKager sh;il1 tx• und�•r nu duty ur uLli�ntion t„ m.�k�• �
<br /> ;� � xuch d��termination. ' �
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<br /> '1'hr 1lurtgugee ah�ll bc nubrugated tu ull �r( the rights, privilegeK, priurities, und �•quitics u[ any limhulder whusc li�n m�y �
<br /> huve been dixhnrged (mm the pruci�eds o[ ihis loan, or hy nny (undc heraby pnid or (umished by thr DfortKagee. .
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<br /> �: � IT IS EXPRESSLY AGRGSD lhat i[ the t�fortgagor shull sell, conaey or nlienate said property, or any pnrt thermf.
<br /> . . or any interest therein, or shnll txr divestc�cl of l�iy title or llny interest therrin in any manner ur way, N'I1CLIlff voluntarilv or
<br /> . involuntnrily, without written consent o( the 2.tortgagee bcing firat had nnd obtninc�l, Nortgngee shllll f1IlVC t}1C right, at iLs option,
<br /> : to declnrn any indebtedness or obligatioag secured hereby, irrrspective of the maturity date stmcified in rmy note evidencing the
<br /> eatne, immedi¢tely due and pnynble without notice, nnd ruiid debt shnll thetru�wn become absolule If the o�me�hip uf the mort•
<br />" � gnged property bernmes vested in n person other thnn the Mortqagor, the Dturtgagcr may, k�ithout nolice tn the T7ortgugur, deai
<br /> with auch euccessor or successor� in interest with re(erence to this mort�ge and the deLt hereby se<vrrd as with the Tfortgagor,
<br /> �� nnd mny forbenr to suc or mny eatend time for the pa}Tnent o[ thc debt hcrcby securcd without disdmr�;in� or in nny H�ay alfectin�
<br /> � the liability oI the original Morlg�tgor hereunder or upon the debt ecrured. �
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<br /> �, In this inslrument lhe singular includes lhe plurnl and lhe mnsculine includes the [eminine and thr nru(er nnd thi� im � � •
<br /> �:trument eMll be binding upan the undersigned, his heirs, personal repri�senlativec, sucassurs and ncsignc. ; _ �
<br /> IN WITNESS 1VHERF,OF, we hnve hereunlo set our hnnds nnd Fenl, thP day and yenr first alxrv�� wrillrn, a
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<br />�x , Gerald R . Kuhlmann -
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<br />� Leora L . �Cuhli�ann
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