101.The mortgagor covenants with the mortgagee that the mortgagor shall pay to the mortgagee the principal sum and interest as hereinbefore set out and all other money payable hereunder; on all arrears of principal, interest and any other sums due to the mortgagee, interest shall be payable at the times and at the interest rate stated, before as well as after maturity, until paid.

102.The mortgagor covenants with the mortgagee that the mortgagor shall insure and keep insured during the continuance of this mortgage the buildings on the lands and premises during their erection and thereafter in the amount of not less than their full insurable value in dollars of lawful money of Canada against loss or damage by fire and any other insurable perils that may be deemed necessary by the mortgagee, all such insurance to be carried in a company or companies approved of by the mortgagee to whom the loss for all such policies shall be made payable; and that the mortgagor shall pay all premiums and sums of money necessary for such purposes as the same shall become due, and shall forthwith assign and deliver to the mortgagee the policy or policies of insurance with mortgage clause attached satisfactory to the mortgagee, all renewal receipts and renewals thereto appertaining, and shall deliver evidence of renewal to the mortgagee; and that the mortgagee may at his option effect such insurance on behalf of the mortgagor, and any amount paid therefor by the mortgagee shall be payable forthwith by the mortgagor to the mortgagee.

103.The mortgagor covenants with the mortgagee that forthwith on the happening of any loss or damage the mortgagor shall furnish all necessary proofs and do all necessary acts to enable the mortgagee to obtain payment of the insurance proceeds; and that such insurance proceeds received by the mortgagee may at the option of the mortgagee be applied to repair or rebuild the building, or to pay the principal sum, interest and other money payable hereunder, whether or not any amount is then due, in such manner as the mortgagee may determine, or to pay the mortgagor or any person appearing by the registered title to be the owner of the lands and premises, or partly in one way and partly in another; but any payment of insurance proceeds to the mortgagor shall not operate as a reduction of any money payable hereunder by the mortgagor to the mortgagee.

104.The mortgagor covenants with the mortgagee that the mortgagor shall pay all premiums pertaining to life insurance assigned to the mortgagee as collateral security as such premiums fall due; in the event of default the mortgagee may pay the premium and any amount so paid shall be payable forthwith by the mortgagor to the mortgagee.

105.The mortgagor covenants with the mortgagee that all erections, buildings, machinery, plant, and improvements whatsoever, including furnaces, boilers, water heaters and all plumbing, air conditioning, ventilating and heating equipment, electric light fixtures, window blinds, storm windows and storm doors, window screens and screen doors, and all apparatus and equipment appurtenant thereto, which are now or which shall hereafter be put upon the lands and premises, are or shall thereafter be deemed to be fixtures and a part of the lands, even though not attached otherwise than by their own weight.

106.The mortgagor covenants with the mortgagee that during the continuance of this mortgage, the mortgagor shall maintain the lands and premises and improvements of the lands and premises in good and sufficient order and repair to the satisfaction of the mortgagee, and that the mortgagor shall permit the mortgagee at all reasonable times to inspect the lands and premises, and in the event of any default by the mortgagor to maintain as aforesaid, the mortgagee in addition to any other remedies by these presents given and conferred may at such time or times as he may deem necessary and without the concurrence of any other person make such arrangements for repairing, finishing and putting in order any buildings or other improvements of the lands and premises, and for inspecting, taking care of, leasing, collecting the rents of, and managing generally the lands and premises as he may deem expedient, and all reasonable costs, charges and expenses including allowance for the time and services of the mortgagee or other person appointed for the above purposes shall be payable forthwith by the mortgagor to the mortgagee.

107.The mortgagor covenants with the mortgagee that the mortgagor will not make or permit to be made any demolition, alterations or additions to the lands and premises without the consent of the mortgagee, and will not use the lands and premises or permit them to be used, without the consent of the mortgagee, for a purpose other than that disclosed to the mortgagee in the application for this mortgage.

108.The mortgagor covenants with the mortgagee that the mortgagor shall pay all taxes, rates, levies and assessments upon the lands and premises during the continuance of this mortgage as and when the same become due and payable, and shall produce to the mortgagee receipts for such payments.

109.The mortgagor covenants with the mortgagee that the mortgagee may, at his option, require the mortgagor to make instalment payments to the mortgagee on account of taxes, rates, levies and assessments upon the lands and premises, such payments to be an estimate by the mortgagee of the sum required to accumulate a fund sufficient to pay such taxes, rates, levies and assessments when they become due; the mortgagee may apply any such payment against the principal sum, interest and other money payable hereunder.

110.The mortgagor covenants with the mortgagee that the mortgagor shall pay all fees, costs as between solicitor and client, charges and expenses which are incurred in making and maintaining this mortgage as a first charge on the lands and premises, or in negotiating or effecting a renewal of this mortgage, or in obtaining or retaining or realizing or attempting to realize upon any security collateral to this mortgage, or in advancing the money under this mortgage or in inspecting or revaluing the lands and premises, or in taking, recovering and keeping or attempting to procure possession of the lands and premises, or in any proceeding judicial or otherwise to protect or to realize this security, and any amounts so paid by the mortgagee shall be payable forthwith by the mortgagor to the mortgagee.

111.The mortgagor covenants with the mortgagee that, if this mortgage is a building mortgage, and if the mortgagor, after any part of the principal sum has been advanced, fails at any time for a period of thirty days to diligently carry on the work of construction of the building or buildings to be erected on the lands or premises, or without the consent in writing of the mortgagee departs in such construction from any plans and specifications thereof approved by the mortgagee or from the generally accepted standards of construction in the locality of the lands and premises, or permits any construction lien or other liens to be registered against the lands and premises for any period exceeding thirty days, the mortgagee at his option at any time thereafter through his servants, agents or contractors may enter on the lands and premises and have exclusive possession thereof and of all materials, plant, gear and equipment thereon free of interference from or by the mortgagor and proceed to complete the construction of the building or buildings either according to the said plans and specifications or according to other plans, specifications or design as the mortgagee in his absolute discretion shall elect, and all expenses of every nature incurred by the mortgagee in going into possession and in completing and equipping the building or buildings or in any way in connection therewith shall be payable by the mortgagor to the mortgagee.

112.The mortgagor covenants with the mortgagee that the mortgagee may pay any liens, taxes, rates, charges or encumbrances now or hereafter existing upon the lands and premises having or which the mortgagee may bona fide consider to have priority over this mortgage, and in that event the mortgagee shall have all the rights of and stand in the position of and be entitled to all the rights, equities and securities of the person so paid off; and any amounts so paid shall be payable forthwith by the mortgagor to the mortgagee; and the decision of the mortgagee as to the validity or amount of any advance or disbursement made under this mortgage or of any claim so paid off shall be final and binding on the mortgagor.

113.The mortgagor covenants with the mortgagee that neither the execution nor registration of this mortgage nor the advance of part of the principal sum shall bind the mortgagee to advance the principal sum or any unadvanced portion thereof; any advance shall be at the sole discretion of the mortgagee.

114.On default of any payment hereunder or on breach of any covenant, agreement or proviso herein contained or implied on the part of the mortgagor to be made, observed or performed; or if any waste be committed or suffered on the lands and premises or any act or thing be done by the mortgagor by which the value of the lands and premises shall, or in the opinion of the mortgagee may, be diminished; or if the mortgagor makes an assignment for the benefit of creditors or a proposal under the Bankruptcy Act, or has a bankruptcy petition filed against him; or if the mortgagor allows a creditor to enter judgment against him by reason of his financial inability to pay a debt or debts; then the whole of the principal sum, interest and all other money payable hereunder remaining unpaid shall at the option of the mortgagee become due and the mortgagee shall have quiet possession of the lands and premises; but in the event that the mortgagee waives his right to call in the whole of such money he shall not be debarred from asserting and exercising his right to call in the money upon the happening of any future default or breach.

115.On default of any payment hereunder or on breach of any covenant, agreement or proviso herein contained or implied on the part of the mortgagor to be made, observed or performed, in whole or in part, the power of sale and all other powers conferred on the mortgagee by virtue of the Property Act, R.S.N.B. 1973, c. P-19, are incorporated herein, as if the mortgage were made by deed.

116.A discharge of this mortgage shall be prepared by the mortgagee at the expense of the mortgagor, and the mortgagee shall have a reasonable time after receipt of payment in full within which to prepare and execute such discharge.

117.The mortgagee may, either with or without consideration, release any person from any liability under this mortgage or release part or all of the lands and premises or release any other security for the money payable hereunder, without being accountable for the value thereof or for any moneys except those actually received by the mortgagee and without releasing any other of the lands and premises where a part of the lands and premises are released.

118.This mortgage shall not operate by way of merger of any indebtedness of the mortgagor to the mortgagee or any contract or instrument by which the same may now or at any time hereafter be represented or evidenced, and no judgment obtained by the mortgagee shall operate by way of merger of this mortgage or in any way affect the security hereby created or the mortgagee’s right to interest.

119.The mortgagor covenants with the mortgagee that any sum owing or required by this mortgage to be paid by the mortgagor to the mortgagee shall be added to the principal sum and shall form a charge upon the lands and premises and shall bear interest at the rate herein stipulated until paid.

101.The mortgagor covenants with the mortgagee that the mortgagor shall pay to the mortgagee the principal sum and interest as hereinbefore set out and all other money payable hereunder; on all arrears of principal, interest and any other sums due to the mortgagee, interest shall be payable at the times and at the interest rate stated, before as well as after maturity, until paid.

102.The mortgagor covenants with the mortgagee that the mortgagor shall insure and keep insured during the continuance of this mortgage the buildings on the lands and premises during their erection and thereafter in the amount of not less than their full insurable value in dollars of lawful money of Canada against loss or damage by fire and any other insurable perils that may be deemed necessary by the mortgagee, all such insurance to be carried in a company or companies approved of by the mortgagee to whom the loss for all such policies shall be made payable; and that the mortgagor shall pay all premiums and sums of money necessary for such purposes as the same shall become due, and shall forthwith assign and deliver to the mortgagee the policy or policies of insurance with mortgage clause attached satisfactory to the mortgagee, all renewal receipts and renewals thereto appertaining, and shall deliver evidence of renewal to the mortgagee; and that the mortgagee may at his option effect such insurance on behalf of the mortgagor, and any amount paid therefor by the mortgagee shall be payable forthwith by the mortgagor to the mortgagee.

103.The mortgagor covenants with the mortgagee that forthwith on the happening of any loss or damage the mortgagor shall furnish all necessary proofs and do all necessary acts to enable the mortgagee to obtain payment of the insurance proceeds; and that such insurance proceeds received by the mortgagee may at the option of the mortgagee be applied to repair or rebuild the building, or to pay the principal sum, interest and other money payable hereunder, whether or not any amount is then due, in such manner as the mortgagee may determine, or to pay the mortgagor or any person appearing by the registered title to be the owner of the lands and premises, or partly in one way and partly in another; but any payment of insurance proceeds to the mortgagor shall not operate as a reduction of any money payable hereunder by the mortgagor to the mortgagee.

104.The mortgagor covenants with the mortgagee that the mortgagor shall pay all premiums pertaining to life insurance assigned to the mortgagee as collateral security as such premiums fall due; in the event of default the mortgagee may pay the premium and any amount so paid shall be payable forthwith by the mortgagor to the mortgagee.

105.The mortgagor covenants with the mortgagee that all erections, buildings, machinery, plant, and improvements whatsoever, including furnaces, boilers, water heaters and all plumbing, air conditioning, ventilating and heating equipment, electric light fixtures, window blinds, storm windows and storm doors, window screens and screen doors, and all apparatus and equipment appurtenant thereto, which are now or which shall hereafter be put upon the lands and premises, are or shall thereafter be deemed to be fixtures and a part of the lands, even though not attached otherwise than by their own weight.

106.The mortgagor covenants with the mortgagee that during the continuance of this mortgage, the mortgagor shall maintain the lands and premises and improvements of the lands and premises in good and sufficient order and repair to the satisfaction of the mortgagee, and that the mortgagor shall permit the mortgagee at all reasonable times to inspect the lands and premises, and in the event of any default by the mortgagor to maintain as aforesaid, the mortgagee in addition to any other remedies by these presents given and conferred may at such time or times as he may deem necessary and without the concurrence of any other person make such arrangements for repairing, finishing and putting in order any buildings or other improvements of the lands and premises, and for inspecting, taking care of, leasing, collecting the rents of, and managing generally the lands and premises as he may deem expedient, and all reasonable costs, charges and expenses including allowance for the time and services of the mortgagee or other person appointed for the above purposes shall be payable forthwith by the mortgagor to the mortgagee.

107.The mortgagor covenants with the mortgagee that the mortgagor will not make or permit to be made any demolition, alterations or additions to the lands and premises without the consent of the mortgagee, and will not use the lands and premises or permit them to be used, without the consent of the mortgagee, for a purpose other than that disclosed to the mortgagee in the application for this mortgage.

108.The mortgagor covenants with the mortgagee that the mortgagor shall pay all taxes, rates, levies and assessments upon the lands and premises during the continuance of this mortgage as and when the same become due and payable, and shall produce to the mortgagee receipts for such payments.

109.The mortgagor covenants with the mortgagee that the mortgagee may, at his option, require the mortgagor to make instalment payments to the mortgagee on account of taxes, rates, levies and assessments upon the lands and premises, such payments to be an estimate by the mortgagee of the sum required to accumulate a fund sufficient to pay such taxes, rates, levies and assessments when they become due; the mortgagee may apply any such payment against the principal sum, interest and other money payable hereunder.

110.The mortgagor covenants with the mortgagee that the mortgagor shall pay all fees, costs as between solicitor and client, charges and expenses which are incurred in making and maintaining this mortgage as a first charge on the lands and premises, or in negotiating or effecting a renewal of this mortgage, or in obtaining or retaining or realizing or attempting to realize upon any security collateral to this mortgage, or in advancing the money under this mortgage or in inspecting or revaluing the lands and premises, or in taking, recovering and keeping or attempting to procure possession of the lands and premises, or in any proceeding judicial or otherwise to protect or to realize this security, and any amounts so paid by the mortgagee shall be payable forthwith by the mortgagor to the mortgagee.

111.The mortgagor covenants with the mortgagee that, if this mortgage is a building mortgage, and if the mortgagor, after any part of the principal sum has been advanced, fails at any time for a period of thirty days to diligently carry on the work of construction of the building or buildings to be erected on the lands or premises, or without the consent in writing of the mortgagee departs in such construction from any plans and specifications thereof approved by the mortgagee or from the generally accepted standards of construction in the locality of the lands and premises, or permits any mechanics’ or other liens to be registered against the lands and premises for any period exceeding thirty days, the mortgagee at his option at any time thereafter through his servants, agents or contractors may enter on the lands and premises and have exclusive possession thereof and of all materials, plant, gear and equipment thereon free of interference from or by the mortgagor and proceed to complete the construction of the building or buildings either according to the said plans and specifications or according to other plans, specifications or design as the mortgagee in his absolute discretion shall elect, and all expenses of every nature incurred by the mortgagee in going into possession and in completing and equipping the building or buildings or in any way in connection therewith shall be payable by the mortgagor to the mortgagee.

112.The mortgagor covenants with the mortgagee that the mortgagee may pay any liens, taxes, rates, charges or encumbrances now or hereafter existing upon the lands and premises having or which the mortgagee may bona fide consider to have priority over this mortgage, and in that event the mortgagee shall have all the rights of and stand in the position of and be entitled to all the rights, equities and securities of the person so paid off; and any amounts so paid shall be payable forthwith by the mortgagor to the mortgagee; and the decision of the mortgagee as to the validity or amount of any advance or disbursement made under this mortgage or of any claim so paid off shall be final and binding on the mortgagor.

113.The mortgagor covenants with the mortgagee that neither the execution nor registration of this mortgage nor the advance of part of the principal sum shall bind the mortgagee to advance the principal sum or any unadvanced portion thereof; any advance shall be at the sole discretion of the mortgagee.

114.On default of any payment hereunder or on breach of any covenant, agreement or proviso herein contained or implied on the part of the mortgagor to be made, observed or performed; or if any waste be committed or suffered on the lands and premises or any act or thing be done by the mortgagor by which the value of the lands and premises shall, or in the opinion of the mortgagee may, be diminished; or if the mortgagor makes an assignment for the benefit of creditors or a proposal under the Bankruptcy Act, or has a bankruptcy petition filed against him; or if the mortgagor allows a creditor to enter judgment against him by reason of his financial inability to pay a debt or debts; then the whole of the principal sum, interest and all other money payable hereunder remaining unpaid shall at the option of the mortgagee become due and the mortgagee shall have quiet possession of the lands and premises; but in the event that the mortgagee waives his right to call in the whole of such money he shall not be debarred from asserting and exercising his right to call in the money upon the happening of any future default or breach.

115.On default of any payment hereunder or on breach of any covenant, agreement or proviso herein contained or implied on the part of the mortgagor to be made, observed or performed, in whole or in part, the power of sale and all other powers conferred on the mortgagee by virtue of the Property Act, R.S.N.B. 1973, c. P-19, are incorporated herein, as if the mortgage were made by deed.

116.A discharge of this mortgage shall be prepared by the mortgagee at the expense of the mortgagor, and the mortgagee shall have a reasonable time after receipt of payment in full within which to prepare and execute such discharge.

117.The mortgagee may, either with or without consideration, release any person from any liability under this mortgage or release part or all of the lands and premises or release any other security for the money payable hereunder, without being accountable for the value thereof or for any moneys except those actually received by the mortgagee and without releasing any other of the lands and premises where a part of the lands and premises are released.

118.This mortgage shall not operate by way of merger of any indebtedness of the mortgagor to the mortgagee or any contract or instrument by which the same may now or at any time hereafter be represented or evidenced, and no judgment obtained by the mortgagee shall operate by way of merger of this mortgage or in any way affect the security hereby created or the mortgagee’s right to interest.

119.The mortgagor covenants with the mortgagee that any sum owing or required by this mortgage to be paid by the mortgagor to the mortgagee shall be added to the principal sum and shall form a charge upon the lands and premises and shall bear interest at the rate herein stipulated until paid.