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0 107-89
<br />The "IMortgagee may collect a "late cliarge" not to exceed Five Cents (.5c) for each dollar (SI..00) of each total illontilly
<br />paynient. more than 15 days in arrears to cover the extra expense involved in handling delinquent accounts.,
<br />It is further agrced that in case any suit is begun to fj�rcclose this mortgage, the Mortgagee, its representatives orassigns,
<br />sliall at once be entitled to the possession of said peemises. and upon application therefor, the liourt in which slich action Shall
<br />lie brought or-afiy judge of such C'ourt, either in terni tirne or vacation, is hereby authorized to appoint a receiver to take posses-
<br />sioll of said premises, or to collect flie rent., therefrom, and tb (to and perform such othLr acts as may be required by the order
<br />of tile' court 'making the appointment; and said Mortgagor hereby waives any notice of such application. and consents to the ap-
<br />poilitillent of .1 receiver upoll tile. production of this mortgage, without other evidence.
<br />It is expressly agreed and,iinderstood that the Mortgagor s�halt proceed with the construction of a building on said promises
<br />with all reasonable dispatch, arld due diligence and shall pay for any and ill extras or modifications that, he may inake in said
<br />building, direc, to, the NiIortgagee to he disbursed, together with the money loaned or advanced by said -Mortgagee in connection
<br />with this loan. And it, is further agreed and understood that if the construction Of Said bUilding be. at 111N. tiTn(', di.wontintled
<br />or not carripd oil with reasonable dispatch ill the. judgniont of the 'Mortgagee, ille iMortgragee or any holder of the said note and
<br />Mortgag,e may purchase niaturials and employ workmen to protect said building, so that thosarnesliall not -suffer from deprecla-
<br />tioll or ill(, weat.ber, or to complete smid building, -so that it may he used for the purpose� for which it is d"igned, mider the said
<br />plans and specifications: that all the sunis so paid. or expended, shall be fleemed to be advances to t Ill- Xfort galgor. and secured
<br />by the said nott�. nil(I lllort�,'ag(� an(I In"lY I)e air tIlf' ol)tiojl of the said Mortgagee, or any holder of said note and mortgage
<br />to anv advances-'fliereaft6r becomim, diie. But in,no event. shall tile Mortgagee he liable in ;ill%, .vay to corill )lete said building or .
<br />,to pay for ill(!. , c-osts of construction be ' vond the� advmices of t.11(- amounk (IL�posited for said purposes or loaned by ill(, 'IMortgageo.
<br />for the constructi011 of this building. And it is further vxpressly agreed and un , derstood (hat if tile IN'lortgagor shall fail to complete
<br />said building ill accord"i lice with ill(, agreenlents, hille prints and specifications filed ill connection with this loan or shall neglect,
<br />faii or rofus(� 'to pay for the costs and (,,:penses ill conneclinn therewidi, or sliall fail in any other of the covenanis herein set forth.
<br />11mi, at the option of the Mortgagee or of the holder of' the note and mor1gagb herein referred to, ill(, PvIortgageemay declaresaid'
<br />loan to be in default and ill(, entire arnount loalled shall immediately become due and payable and ill(! property Herein referred ill
<br />shall he sevority for all Of the advancvs and exjwn.,t�s incurred and made by. ill(- Mortgmrc(� Connection with this provision.
<br />in
<br />Without limiting ill(, generality of ill(, foregoing, fill- Mortgagee shall have tile right to declare that defauit hac; 1well Made
<br />and the entin, indebtedliess hereunder to he due in([ payablo at once upon the happening, of anY Ono of tho follmving conditions:
<br />(a) The filim, of ally lien against ill(, properly, whother claimed to ho prior to ill(, first nlortgagt, or subject thervto;
<br />(h) "I'llo entry of ally judgment against ill(, '.,%Iort,--,,ior
<br />(c) Tlw failure to compl% strictlN with zonink regulations, ill(, provisions of ill(, city building code. or if am stop or(
<br />is i.ssued bY public authorities;
<br />(d) A'ny misstatement in tllo� loan application;
<br />(e) Anv illaterial cliange ill the plans and �pocifications not fir.-;( approved in xi-itingby the Mortgage(!;
<br />(f) If work ho delayed:( -l- suspended for a period of thirt.v (20) da%:s wilhout callso satisfactory to the Morfgngee, or
<br />should ill(. M(,ytiagor fail to, rallso work to he pro�ecllted vigorously.
<br />If ill(,' *.Mortga.gee (Inclares the loan to be in default imiler anY provisions of this provi.,Joll, the Mort""ager. sliall he under
<br />no obligation f o advance am, further nionev., lieremidor eithur f6r i'mynient of work performed ,.Ind materials already furnishod, or
<br />tllo--&, to bo furnished lator by ill(- jMort,_,a!1or.
<br />It. is miderstood in(] ;vlreed flint, Ille Mortgag'or will lisc all advalice's made under this niortgatle to vrect, a building on
<br />said prernises in accordance \viili ill(, plans, specification,,; and tll(lneral agreements filed in connection therew.ith. and heretofore
<br />approved hv fill' Mortgng'cv.
<br />It, is, understood and agreed that. ;111.. mat erials delivored upon aid prernisos for the purpo.,(, of heing incorporatod in ill(,
<br />building shall be Considcred :1 part. of it)(' building.
<br />MoHgagco al�rces to ninke advancl�.s linder this loan for tlit� construction of sairl building, from time to lillie'As agreed
<br />hl�iweell the parties hereto.
<br />AN L.) IT IS EXPRESSLY AGREP"D AND UNDERSTOOD that. said advances shall he paid onlY when ill the jildg-l-nent
<br />of- the Mortgagee all work usually done at the stage of construction when. the advance is made payabh. sha.11.have be(�ll done in a
<br />good and %%*'o.1-laminlike majiner, ,in([ all materials ;in(] fixtures usualiv furn:shed and installed at. that time 'slmll have been ftir-
<br />nished and Installed: but the Mortgagee may advance parts, or the whole, of any installments bofore they he'conie (tile, if tile M('gt-
<br />-1, advajice.� or payments sliall he deenled to have beell.made
<br />g, geo shall boli(-ve it. advisable to do so. and all SLICII -ill pursualice Of
<br />thh�; agrocnient-, nothing, liov.-ever, in this agri,enient shall he Con-,triled a.,; a determination Of the quality of the v.,ork, labor
<br />or materials furnished bY tile Nlortgagor or contractor and ill(, _Morfg�ip shall bo mider no cluty or obligation to rn�.tke
<br />SiWll (1vtormination.
<br />The Mortgngce shall he stibrogaled to ;ill of ill(, rights, privileges, pri6rifies, and equities ofany lienholder whose, lien may
<br />linve heen (liseliarged from the proceeds or this loan, or bY any funds lierehY paid or furnished by the _Mnrtgragree.
<br />IT IS EXPRESSLY AGREED that if the Mortgagor sliall soll� convoy or alienate said propertY, or any part there'of,
<br />or anv interfst therein, or sliall he divested of his title or ally interest therein in in\- manner or way, vdieflier voluntarily or
<br />involuntarily, without written con.-wnt of ill(, Mortgagee being first had and ohiained, 'Mortgageosliall have the right, at it -i optioil,�
<br />to declare any indelitednes., or obligations secured hereby, irrespective of tile maturity date spocified in any note evidencinr the
<br />same, ininiLdiately (tile in(] payahh, without notice. and said dt4)t shall thereupon become ab.z;olute. If the O"Ill(IrShip of the inort-
<br />gaged property bbcomes vested in a person otlier than the 11ortgagor, the Tvlortgagee may, without notice -to till- Mortgagor, deal
<br />with ' such successor or successors in intcre.�;t Nvith reference to this niortgage and the debt lierehv secured as with the 'Mortgagor,
<br />and
<br />may forhear to stie or may extend time for the payment of the cleht, liereby secured without discharging or in any way arfecting
<br />the liability of the original Mort!,Itigor lieremider or 11poll the Clebt socured.
<br />In this instrument tile sinmilar includes the plural and the mascillille includes tile fenlillille and ill(' netiter and this in-
<br />stronlellf, shall be binding upoll the undersigned. his huirs. personal representatives, Fuccessors and as -signs.
<br />IN WITNESS WHERF,-,017, we have lieretinto set our hands and seat, fill, day and yvar first almve written.
<br />In the prvsence of:
<br />............... ... . .............. .................. --. ........................
<br />�Darrell R. Sutter
<br />................. ..... ...........................
<br />Roma'M. Sutter
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