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The Mortgagee may collect a "late charge" not. to exceed Five Cents (.5c) for each dollar ($1.0.0), of.each total Trionthly payment more than 15 days in arrears to cover the extra expense involved in liindling delinquent accounts. It is ftirther agreed that in case in), suit is begun to foreclose this mortgage, the Mortgagee, its representatives orassigns, shall at once. be entitled to the possession of said premises, and upon application therefor, the court in which such action sliall he brought or any judge of such court, either in term time or vacation, is hereby authorized to appoint a receiver to take posses - Sion of said-,proluises, or to collect the rents therefrom, and to do and perform such other acts as may be mxjuired by the order (if the court making the appointment; and said 1\,Iortgigor hereby %vaives any notice of such application, and coilsents to the It)- pointment.' of ft receiver upon the production of this mortgage, without other evidence. It is expres'sly agreed an(I understood that the Mortgagor shall proceed %yith the construction of a building oil said, premises with .111 reasc.ilable dispatch, and due diligence and shall pay for any and al I extras or modificat ions that he may make in said building. direct to the A-lortgagee to be disbursed, together With the money loaned or advanced by said Mort.gagee in connection with this loan, And it. is further agreed and understood that. if the construction of said building be. at any time, discontinued or not carried 611 with reason ' able dispatch in tile judgment of the Mortgagee, the Mortgagee or any holder of the said note and Mortgage may:purchase materials and employ �vorhnleji to protect said building, so that the same shall not,suffer from depreda- tion or thv weather. or to complete Said buildill".-so that it may be used for the purposes for which it is designed, under the said plans and specifications; that '111 the sums so paid, or expended. sliall be de*emed to be advances to the IN -lo ' rtgagor, and secured by the said note. and inortgage and may be applied, at the option of the said Mort-agee, or any holder of said note and mortgage to any advances thereafter becoming due. But in no event. shall the Mortgagee l`;e liable in my Nvay to complete said building or to pay for the costs of construction I)eyond the advanc(N of the amounts deposited for said pL1rj)OSeS Or loaned b%, the IN,lortga�ee for the constructioll of this building. And it is further expressly agreed and un'derstood that if the Mortgagorshall fail to complete said building in accordance with the agreements. blue prilits and specifications filed in connection with this loan orshall neglect, faii or refuse to "pay -for the costs and expenses iii connection therewith, or shall fail in any other of the covenants herein set forth, - then, at the (lption of the Mortgagee or of the holder of the note and mortgage herein referred to, the IvIortgagecrmaydeclaresaid loan to be in default and tile entire amount loaned sliall immediately become due and payable and the property herein referred to shall be securitv for all of the advances and expenses incurred and made by the Mortgagee in connection with this pr:ovision. Without. limiting the generality of the foregoing, the Nlortgagee shall have the right to declare that default hasbeen made -in([ the entire indebtedness hereunder to be due, and payable at olice upon the happening of anv one of the fol lowi m, cond it ions: (a) The filing of any lien against the property, whether clainied to be prior to tbo- fir.A niortga,e or subject thereto; I (b) Tile entry Of Mly jildf,'Illent against the 'Mortgagor; (c) The failure to corriply strictly with zoning regulations, the provisions of the city building code, or if any stop order is issued by public authorities; (d) Any misstatement in the loan application; (e) Any material change in the plans and specifications not first. approved in writing.by the Mortgagee; (f) If Nvork be delayed or suspended for a period of thirty (30) daYs without causp satisfactory to the Tvlortgagee, or should the IN'Toxigagor fail to cause %vork to be prosecuted vigorouslN. If the Mortgagee declares the loan to be in default under'any provisions of this provision, the Nlortgagee.-hall beiinder I no obligation to advanco an -v further nionoys lierbunder either for payinent. of %vork porformud and materials already furnished, or tllo.�e to be furnished later by the Mortgagor. It is understood and agreed that. the N-lortgagor will use all advances, made, under this mortgage to erect .1 building on said premise.,4 in accordance with tho plans, specifications and general agreements filed' in connection thorewith, and heretofore approved by the IMortgagee. I t. is iniderstood and agreed that all materials delivered upon said, promise,; for the purpose of beilig incorporated in tile building sliall he colisidered a part of the building. Mortj;agee agree,; to ninke advances under this loan for the construction of said building from tinie to time as agreed between the parties hereto. AND IT IS E-XPRE SSLY AGREED AND UNDERSTOOD that said advancessliall lit, paid only when in the judgmprit of the Xlortgagee all work usually done at the stage of construction when the advance is inade payable shall have been done in a good and workmanlihe im6iner, and all materials and fixtures usually furnished ;in(] installed at that time shall have been fur- nislied and installed; but the Mortgagee may advance parts, or t lie whole, of any installments before they become due, if the I'vTort- gag"e shall believe it. advisable to do so, and all such advances or payments shall be deemed to have been made in pursuance of this agreement, nothing, however. in this agreement shall be construed as. a determination of the quality of the work. lai)or or mat rials furnished by the JiMortgagor or contractor and the Mortgag��v e shall hv under no dutY or obligation to nWke such determination. The iMortgagve. shall he subrogated to all of the rights, privileges. priorities, Old equitie.� of my lienholder whose lien may have been discharged from the proceeds of this loan, or by any funds hereby paid or furnished by the Mortgagee. IT IS EXPRESSLY AGREED that if the Mortgagor shall sell, convey or alienate said property, or my part thereof, or my interest thercin, or sliall he divested of his title or any interest therein in any manner or way, whether voluntarily.or. involuntarily, without written consent of the Mortgageo, being first had and obtained, Mortgagee sliall have the right, at its optibn, to declare any indebtedness or obli.-ations secured hereby, irrespective of the maturity date specified in any note evidencing the same, immediately due and payable, without notice, and said debt sliall thereupon become absolute. If the ownership Qf the mort- gaged property becomes vested in a penion other than the 'Mortgagor, the Xfortgagee may, without notice to the Mortgagor, deal with such succbssor or successors in interest with. r6ference to this mortgage and the debt hereby secured as with the Mortgagor, and may forbear to sue or may extend time for the payment of the debt hereby secured without discharging or in any way affecting the liability of -the original Mortgagor hereunder or upon tile debt secured. In this instrunient the singular includ" the plural and the masculine includes the feminine in(] the, neuterand this in- strunielit. Alall be binding upon tile undersigned, his heirs, personal representatives, successors an(] assigns. IN' WITNESS WHEREOF, we have hereunto set our liands and seal, the day and year first above written. In the presence of: ................................ Edward. R. Jenkins .. .. ...... .................................... Charlanne M. JZ�kins