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008941 The Alortgagee may collect a "laic charge" not to exceed Five Cents (5c) for each dollar (51;00) of each iota] monthly payment more ,than 1:5 days in arrears to cover the extra exirense involved in hanid.ling delinquent accounts. IL is further agreed that in case any suit is begun to fcircclose this mortgage, the Mortgagee, its representatives or assigns, shall at unci be entitled to the possession of said- premises, and upon application therefor, the court in which such action shall he brought 'or any ,fudge of such court, either in term time or vacation, is liereby.authorized to appoint a receiver to take: posses- sion of said premises, or to collect the rents thi:refrom, and to do and perform'stich other acts.as may be reduired by the order of the court making the appointment; and said AMortgagor hereby waives any notice' of sch application, and tonsenis to the ap- u pointment of a receiver upon the production oC this mortgage, without other evidelice. It is expressly `agreed and understood that the \4ortgagor shall proceed with,the ccinstruction of a buildin,r, on said -premises with all rca6onable' dispatch, and (tile diligence and shall pay for any and all extras or modifications that. he :may make in said huilding, direct -to* the A'Iortgagee to he .disbursed, together with the money loarled or advanced by said Mortgagee in connectipn with this loan. Arid it is further agreed and understood that if the construction of said building be, at any fidiv, discontinued or not carried on +cith reasonable. dispatch in the Judgment of the A-Iortgagee„ the. Mortgagee orally holder of. blip said note. and Mortg age may purchase materials and employ wiarhnnen to protect said huildiri ;:so that the same shall not stiffer from rleprcrla- tion or the weather,E.or to complete said building, s('01mL'.it may he used for the purposes for which it is desirnnd,'tmder the said plans and specifications; that all flit, sums so liaid, or expended, shall be deemed to be advances to the AMortgagor, and secured M• tfte said note and mortgage and may be ai-iplied., at the option of the said Mortgagee, or any holder of saic]_nbtc and mortgage to :ink• advances thereafter becoming due. Bill, in do event shall the Mortgagee be liable in any .+way to complete, said building or to pay for the costs of constructionbeyond the advances of the amounts depa.jited for said purposes or loaned by the'AMortgagee fair the construction of this building. And it is further expressly agreed an(I undugr toot that if the Nlortgagor shall fail to complete said huitding in accordance with the agreements, blue prints and specifications fled in connection with this loan or shall neglect, fait or refu e to flay for the costs and expenses int councction therewith. or shall fiiil in any offier of the covenants herein set forth, then, at -the: optimt of the Dlortgagee or, cif Hic holder of the note and mortgage herein referrer] to, the N4ortgage ina� declare said loan to he in default. and the entire amotmt loaned shall immediately become clue'-and payable aicl the property herein referred -to shall be securily 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 s11a11 have the right to declare that default, has been made and" the entire indehtcriness hereunder to he due and palyahlc at once upon the ha{ipening of any one of the followin;; conditions: '(a) The filing of any lien against the property, whether claimer] to be prior to the first mortgage or sultjccI thereto; (h) The entry of any Judgment against the Mortgagor; (c) The f.ailuro to comply strictly with zoning regulations, ill(, provisions of the cit% bililding, cocde, or. if any stop order is issuer] by public authorities; (d) Any niisstatentent in the loan application: (e) Any mn aterial chnge in the n plas Arid :specifications not first. appro+;cd in +writing by the I wtga,tee; (f) If'worlc hr delayed or suspended Gc>r',a period of thirty (30) days +vilhnut. cause satisfactory to filo AMortgagee, or sliwild the AMortga{ or ,fail to cause work to be 'prosecuted vigorously. } If the Mortgagee declares the loan to lie in default under any pro+-ision:: of 'this provision, the Mor-tg, shall he under It() obligation tri ach<atice any further moneys herdunder either for paynurnt. of performed anal in already furnisher], or those to he furnished later by the Mortgagor. It is understood and agreed that the Mortgagor will use all adv.mcc;',rirade under this mortgage to'6<t,et a huilding on said premise in accordance with the plans, specifications and general agree moat!:` filed in connection therewit-k -, :cul heretofore aitlaroved by t1w .\,,Iortgm.,vv. It is understood and agreed that, all•^ materials delivered upon said prr�mises for the purpose of being inicPrporati rd in the huildinll shall be considered a part of file building, Mortgagee agrees to make ad%anCOS under this loan for the conslructii-,n of..sairl building from time tqa time as agreed be-t+weon the parties hereto: AND IT IS 1-XPR SSLY AGREED AND UNDERSTOOD that said �achrnnces all be paid only ++beta in tilt' judgment of flit- Mortgagee all work usually done at the singe of construction when the addance is made :payable shall have been clone in a good and workrnanlike manner, and all materials an�1 fixtrn-es usually furnished and installed at that time shall have been fur- nislted:and installed: but the Mortgagee may :ad+�ance parts, or the whole, of anty,installments before they become due, if the Mort= g:igce shall ht,lie%e it. advisable to do so, and all such advances or payments shall he clecnued iri have been made in pursuance of fhis agreenu•nt, nothing, however, in this agreeniont shall be construed is a determination of the quality of file work, labor or materials furnished by the Afortgagor or confractor and the Mortgngeo >hall be under. no duty or ichli ration lei male such deterrninafion. The Mortgagee shall be suhrogafed to all of the rights, privilege~. priorities, and equities of ally lienholde:• whose lien inay have been from the proceeds of this; Ipan, or by ally funds herehy paid or furnished by the Morhnagee. IT IS .EXPRESSLY AGREED that if the AMortgagor 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 tilt, _Mortgagee heing first had and obtained. Mortgagee shall have the.right, at its option, to declare any indchiedness or obligations Secured' hereby, irrespective of the maturity date 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 mort- gaged propertybe&ines vested in a person outer than the Mortgagor, the Moi•tgaigee may, without notice to tiie Mortgagor, deal with such soccessni- or successors in interest with reference to this mortgage :cid the debt hereby secured as with the Mortgagor, and may forbear fin sue or may extend time for the payment of the debt hereby.securecd without discharging or;in.any wav affecting the liability of the original Mortgagor hereunder or upon the debt secured. In this iiistrunumt the singular includes` the plural and the nlasculine:includec the' feminine and the.neuter and this in- - slrument shall he*hincling upon the undersigned, his heirs, personal representatives;-successors and assign~. IN WI'Iitr'ISS WHEREOF, we have heieunto setour hands :and seal,,t.lie clay :.and yoar firstabove v;ri]ten. In the presence of Delbert T rl?heasme er U Lois A.. Theasmeyer (/