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011.0 1 'U The IMortgagee may collect a "late charge" not to exceed Five Cents (5c) for each dollar (S1.00) of . each total niontbiv paynient. inore than 15 da N Is in ari-cars to cover the (-%tra expense involved in handling delinquent accounts. It is further agreed that in case any suit is begun to forcclose this mortgage, the Mortgag�e, its representatives orasAgns, shall at once be� entitled to tile possession of said premises, and upon application therefor, the court in which such 'action shall 1W 111-OUght, or ally judge Of Such court, either in term time or'vacation. is hereby authorized to appoint a receiver to take posses- sion ot said* premises, or to collect the rents ther6froni, and to (to and perform such other acts as may be required by tile order Of tile coll"t making the appointment; and said Mortgagor hereby waives any notice of such application, and consent,; to the fill - ])Ointment of a t�eceiver upon the production of this mortgage, without other Ividence. It is expressly agreed and understood that, the 'Mortgagor shall proceed with the construction of I building on said premises with all reasotia ' ble dispatch, and due diligence and sliall pay for any and all, extras or mod i ficat ions that. he may make in said building, direct. to the Nlortgagee to be disbursed, together Nvith the money .�oaned or advanced b�y said ?vlort.gagev in connection with this loan. Alld it is further agreed and understood that if the construction of ;aid building be, at any time, discontinued or not carried oil Nvitli reasonable dispatch ill the judgment of the Mortgagee, flie Xfortgagee or any holder of the said note, and Mortgage may purchase materials and employ Nvork-nien to protect, said buildin.g. so that the same shall not suffer from,depreda- tion or the weather. or to complete said building, So that. it, illay be used for the purposes for whiell it is designed. under the said plans and specifications; that. ill tile suni,; so paid, or expended. ,;hall be deCined to be advances to the Nlortgagor, in(] secured by the said note and mortgage and IllaY he applied, al, tile option of the said i1ort.-Illgee, or any holderofsaid note in(] mortgage to any advanevs thereafter becomin, (III I c. But. in no event sliall tile Mortgagee be liable in any way to complete said building �or to pay for the costs of construction heyond the advances of the aniounts deposHed for said purposes or loaned by the IMortgagee for the construction of this building,. Ali(] it is further vxpressl.y agreed and understood that if the Nlortgagorshall fail to complete said buildi1i,,,, in accordance with the agreements, blue print,,; and specifications filed in connection with this loan orshall negle d, faii or refuse to pay -for the costs and expenses i'n connection flierewith. or sliall fail in anv other of the covenants herein set forth, then, at flic option of tile Mortgagee or of the holder of the note and mortgage herein referred to, the 'i%lortgice'ni�iN,(Ieclare,;,,tid loan to he ill default and tile entire aniount loaned shall immediately become (Ille and payable and the property herein referred to shall be security- for all (if tile advances and expenses incurred anrl made by the Nlort'gagee, in connection with this provision. Without limiting the generality of the foregoing, the Mortgagee sliall have the right to declare that default has bP(,n made all([ the entire Indebtedness hereunder to be due and payable at once upon the happening of any oil(, of tile followingconditions: ('f) The filing of any lien agaiwt III(! property, whether clainied to he prior to the first mortgage or subject thereto; (b) The entry of any jud gment against the Mortgagor; (c) 'I'll(, failure to coniplY strictly with Zoning regulations, the provisions of the city b6ilding code, or if aily stop order is issued by public authorities; (d) Any misslatUrnent in the loan application; (e) Any Illaterial Change ill tile plans and specifications not first. approved in writing by the M'ortgagee; (f) If*work he delayed or susperided for. it period of thirty ' (30) da.y!. without cause satisfactory to the Vlortgagee, or should the i%lortg�agor fail to cause work to be prosecuted vigorously. If the Mortgagee declares Ihe loan to 1)(,. ill defaull under any provisions of thi,, provision, the Nlortgagee shall be tinder no Obligation tf, advance all ' V fUrdwr moneys lwr(.�under vither for payment of work performed and materials already furnished, Or tho.-w to ho furnished later by the it is tit ' iderstood art(] agreed that. the Mortgagor will use all advances made under this mortgage to erect, I buildin., on said prLinises in. aCCOrdance with the plans, specifications and general agre(-nients filed in connection therewith, and heretofore approved by the Mortgagee. It, i.q understood and agrowd that all materials delivered upon said pi'vini,,os for the purpn�e ofbeing incorporated in tile building shall he considered a ])art. of the building. Nlortgagee agrees to make advances under this loan for tho construction of said building front time to time as agre*ed bohveon the parties hereto. 'SSLY AGREED AND UNDERSTOOD that said advances shall be paid only v.,hell in tile judgment AND IT IS F"XPRL of the Mortgagee all work usually done at the stage of Construction when the advance is made payable shall have been donc, in a good art(] workmanlike manner, and all material.,; and fixtures usually furnished and installed at that time shall have been ffir- nished and installed: but the Alortgaget, may advance parts, or the whole, of any installments hotfore they become (tile, if tile I%Iort- gagee sliall beliove it. advisable to CIO So. and all such advances or payments shall be deeined to have been made in pursuance of this agreenient, nothing,. however. ill this agreenietit. sliall b(, construed is a determination of flip quality'J)f the work. labor o*r material.,; furnished hy the i . vlortgag-or or contrador and the Mortgag�o shall bo under no dutY or obligation to zhake such df,terinination. The Mortgagev'shall be subrogated to all of the rights, privileges, priorities, in([ equities of any lienholder whose lion may. have heen di,�charged from the procceds of this loan, or bY any funds hereby paid or furnished by the TVIortgageo. IT IS EXPRESSLY AGREED that if the Mortgagor shall sell, convey or alienate qaid property, or in%, part thereof, or any interest, therLin, or sliall he divested of his -title or any interest therein in any manner or way, whether voluntarily or involuntarily, %vi'thotit written consent of the Mortgagee being first had and obtained, 'Mortgagee ,;hall have the right, at its option, to declare, any indebtedness or obligations secured hereby, irrespective of the maturity date specified in any note evidencing the same, inimediat0y due and payable without notice, and said debt shall thereupon become absolute. If the ownership of the mort- gaged property becomes vested in I person other than the 'Mortga,gor, the TvIortgagee may, without notice to the iMortgaigor, deal with such successor or successors in interest with reference to this mortgage and the debt hereby secured as Nvith the Mortgagor, and may forbear to sit(, or may extend time for ill(, payment of the debt hereby sectired without discharging or iji any way affecting the liability of tile. original Yfortgagor hereunder : or upon the debt secured. lit this instrunient the singular includes flie plural and the masculine includes the feminine and the neuterand this in- strunient. shall he binding upon the undersigned. )iis heirs, person -A representati%, es, successors and assigns. IN WJ'TNESS WHEREOF, we have hereunto set our hands and spa.i, the day and year first above %%:rittell. it the presence of: �e e�;'Ja�me,s E.- Ross Janet/M. Ross . ................. I . . . ..... ............ Delbert D. Thea_sm�,y)er j 4� ............. .... . ...... Bois A. Theasmeyer 1�7-