Whenever required, the purchaser shall deliver to the holder of said building loan mortgage, as further security for the building loan, a chattel mortgage duly executed, covering all articles of personal property and fixtures appurtenant to the building.

In case any dispute arise between the parties hereto as to any matter as to character and quality of materials or labor or of construction of building under this contract, each party shall select an architect, and the decision of the two architects so selected shall be final and binding on both parties. If the two architects cannot agree, then they shall select a third, and his decision shall be final and binding on both parties.

All advances are to be made at the office of...............................

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and the purchaser is to give the seller three days' notice before demanding any advance.

During the construction of the building, the seller and the holder of said building loan mortgage and the seller's architects or inspectors may from time to time inspect the building.

No advance shall be due unless all work usually done at the stage of construction when the advance is payable under the terms of Schedule "C" be done in a good and workmanlike manner, and all materials and fixtures usually furnished and installed at that time be furnished and installed, and all iron work and construction be approved by an engineer satisfactory to the seller nor if in the opinion of the seller the advance will make the total amount then owing hereunder greater than the value of the improvements then on the premises, but parts or the whole of any installments may be advanced before they become due if the seller or holder of said building loan mortgage believe it advisable to do so, and all such advances or payments shall be deemed to have been made in pursuance of this agreement.

The making of any advance or any part of an advance, shall not be deemed an approval or acceptance by the seller or the holder of said building loan mortgage of the work theretofore done.

The purchaser shall procure the building loan mortgage to be recorded and shall pay the expense of the examination of title, and for the searches which may be required by the seller to assure the seller that the building loan mortgage is a lien as herein covenanted, and the purchaser shall furnish surveys no ade by the surveyor, satisfactory to the holder of said building loan mortgage whenever required by the holder as a condition of the making of an advance.

So much of the building loan herein agreed to be made as may be required, may be applied by the seller to the payments, satisfaction or other disposition of any existing mortgage or mortgages or other incumbrances on the premises described on Schedule "A," and such moneys shall be so applied toward such payment or other disposition of mortgages or other incumbrances, whenever the seller may so select; and so much of said building loan as may be necessary may be applied under the direction of the purchaser to the payment of any fees, brokerage or other expenses incident to the obtaining or making of the building loan herein agreed to be made.

In case the building be one to which the provisions of the Tenement House Act apply,

(a) The first advance shall not be due until the plans and specifications shall have been approved by the Tenement House Department, and a written certificate to that effect shall have been issued by such Department.

(b) No other advance shall be due unless the building shall comply with the provisions of the Tenement House Act, so far as such Act then may be applicable.

(c) The last advance shall not be due until the purchaser shall produce a certificate issued by the Tenement House Department, that said building conforms, in all respects, to the requirements of said Act.

So much of the last advance as may be necessary may be applied to the payment of accrued interest on any mortgage mentioned in this contract.

The seller or holder of said building loan mortgage may release portions of the mortgaged premises at any time upon receiving what, in the opinion of the seller, is a proper payment on account of the mortgage debt.

The seller or any holder of said building loan bond and mortgage may extend the payment of the principal secured by said bond and mortgage, and any extension so granted shall be deemed made in pursuance of this agreement and not to be a modification thereof.

Payments of the amounts to be secured by the bonds to be given hereunder are to be guaranteed by ..................................................

IN WITNESS WHEREOF, the parties hereto have signed and sealed these presents the day and year first above written.

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(ACKNOWLEDGMENTS)

SCHEDULE A

Annexed hereto and forming a part of the foregoing agreement.

(Description of property sold.)

SCHEDULE B

Annexed hereto and forming a part of the foregoing agreement

(Description of building to be erected)

SCHEDULE C

Annexed hereto and forming a part of the foregoing agreement.

(At what time and in what amounts advances on mortgage are to be made.)