HomeMy WebLinkAbout0313
O. R.
MOl
18 _308
I
. ,. Tlu.t;1Il m. .",ew: of .. .uit beillC iNthuced to b<<_ .. ~ UN ~ *II be Ctik" .. ..ppl:- at lIny rime durin,(l
INd. . 'u,,-!o........ .uit Illl tbe a'1\lrt b'<'ili4J ju~ tbcrwf fw Wt ap~ of a ~..~t of loll and aUlauhu tIM mvrtalLg,w j)mpetty, and
i>f ..n l'COCI. i--. pfflfic.. lMua ucl N;vatU..lI metwf, f__ wltaGlleV1lt' toUr<< derin4 i aad tMftIl'poiIiI It Na t..nob.v nprnsly tuYf'DAnt.N
..~.d af;1"ftC! lb.t the tt'urt Ib&l!. fanhwidl appo1at ~ rt<<il'tlt ...-fth tlK llllUal plwen IUId dud. o,f reed,"" j", like O:,"U; aad said ..~
pQi_lItl1t ~I be made by tM _n: .. . __ CJl aric:t ,..... to dM ~ Ntd. ...it:llout rcf.re&:lU to t~ ~'~KY or imHlequK)' of the
...duc 1)f t~ p~ 1M'.,. ~ or . the ~.IlIC)' or ~ of da-< Mortaqw o,r bY otlMr pa!1Y defend..ot to ,\1.:1\ lUit. 'f'lH,
Mirrtt:...r benb( eplldfkaDy .,..r.,. U. ~ to obj.a to m. IIppaiNm~ of II recrdnr .. afo~cl. and hereby upr_h i."'(>l\.entto ~h.t "och
.pp3lntQW'nt ahal be fllI* .. U ~ ~ aDoll .. .. I'JOWff IlIf llIboio4u.e ript 110 dw ~ and the tIM Dame 005,' be <Io:1e ..itbout
no-'J<< to t!le M~.
6, Tbat if any ~ ~W lie .~ -aM" ttM propcrty co...rctd by tWa ~.. upon U'l' e>tllct lien ~r cl.lm ....brther
.u!Wrier Of juoior to tlM lin of dala ~ tM ,Mon.&aIwt Ullly at its (lIptiOl.l lo:amediatdy upM io.ritutiNl of ,uch .uit or during the pend-
mcy tlHtreof oecJale tlDs _npp aad tM ~ Mrtred ~ -dut ....d p."yable fortlIwith ud may at lu <)priOll procHd l'O foreclwe
this InUltp.-.
1. To IMIY all aMi sin~iar die <<iIhI, f-. eb..... atI4 n~ or enry ltio4, ioclud.l.ni the too\ o{ &D .~rllCt of title to .Aid land.
found w 1M c:oovmJe;,t or upe4idf ia et.moeetiooA 'WidIIWY lUll fur die f_\.':!$ur. Df thie _~ ,,~ 111M iDtludinj, whether tbe Mortg....'ee
is oblipced w p.y .- or -. I'dOOIUlbI.- MOOmey's f_ iueurred t>f uPftlded at aDY time bytht: Mo::'tPBft bilcau. of the bilure of the
Mortf;a.&'br to per-fonD, comply ",ltll aQd Mid. \:I, .AI Of any of tbe <<,,,maotl, .:oodirions and atlpulatio.n. of aaid promillOr}' l\OIr, (;f thi3
mortplP', io the fur<<bu~ of thhI ~ .n III toIlectiq the .-o~ lIOCurfl! lIlereby ...itb or witllQU~ lesal proceedinp, and ~() reirn.
"..I'M' the Mort"'~ fot enrr p4l""" ~ M illltQrn4 for BY .. purpoll .....hh lutn..... from due of enr)' I\.lCh paytneot at the r"e of
ei;:bt ~r cent (5%) per llIUtuM: web pa,--.. It..Od obUp.tioal. ..Ida ID~ra<< tberten u aforeaaid, .hal! ~ MC;ured by the lien bu~f.
5, To kerp the build-hill or builoinp _ or bcnamr llG uid \.00 insured agairrtt klIIII or darua~ by fire. utendrd C<lnrage and
other pnils in II ..un not Iae th.:ln thrir full iaaur.bil: 'Value at tbe t~ aDd ~x~ntle of the Mort;aaor in II romps"y or compsniell ..pprnved by
tb\: Mortsas<<, the policy or ~hdeJ to be lid-ii b~ the Me>rtgeg<<. and .uch poll,'" ,Jr policies of ins'lfIUtce ,hall hue affiud lber"to a Stan-
dard Ne... York Mortt;a". C.~_, makiac .II .... or Io.n uaCer such policy or policia ~y.ble 10 the Mortgltget! as ita inu,r"t may ap!WAf,
and lO dellyer Illid poUcy or policia to * Mu~ ...Iaeu i.ued with m rL('eipea for the ~)'UIent of the premium thud",; lI.l.\d in ~i,..: e-nnt
any lum of CIOney ~ payable \;pder Iud! policv or poiid.. the Mt:.rtppe shall ban dle option to receive- and apply the .ame 00 acr.oufll
of tbe iodehtcdM'1I MCurcd hereby or to pemalt tbe Mmtjapt Ul rdn and UK It, or llnY p'llt tbereaf, for .,cber purpoaes.. ....itbou: tbereby
.....i..ing 0' impairiftr; lUly equity, lien or rip U-Dd.r or br ...irtlM of,bi. _npa;c; IWd l.be Monsal.lIt if it d_ lle<.:t$aary may pIa<< ~lId pay
for ,uch insurant:e. or any ;'Ian thereof, -.ritbouit ~GIo 'UtviD~ or .ff<<;ting Mortpp'l option to fot<<IOIcc for breach of l.hit covmant, or IIny
part IherfoOf, or IInY ript or option lIDoer thilI Dlortpp, ancI rRl."f auch payment lIball btlar interl!!lf from date thereof until paid at tbe rate of
eight per cent (S"} P'1' annum, IUId all .ur:h psyfMllU with IntetIW .. afor_id lIball he MCurcd by the lien hereof. In the tTe1lt an,. laM or
dama~ it .uffer~d Monpeor chail n<<ify Ml)rtppe of .udl _ or damage ...i:hin fony-otipt (48) boun after tbe bapp-tning thereof; tbr.
biture to give slJ<:h oorice .hall eonstitute a de-fllult llt:Id the Mo.1P&C'I thall bave tbe right. herrin given for all dffaulcs,
9. To penDit, Wlnm!t or lUff.. no waste .nd to mll1!ltaill the tmprovemwtl ;n ..II tiJDet in a Itate ,.,f gDIld ;cpilir anJ condition; and
III do or permit to be do~ to uhi preml,," nothiq th.t will ak... or cbange the U1IC lI.l.\d character of said property or in any WilY impair or
weaken thO! ~urity of .Aid monallp. In c:_ of tbe ,.flMal, Malect or Inability of the MortaaiOr to repair and m..intain $aid proptl!rt~'. the
Mort~1: may, at In optloo, make .ucb repain or eallM the __ to be made lUId ad'V'l'l(:e lIIOIlin in that behalf which sum. .hall In ~ured
by the li'm bem')f aDd bear inter-l':lt at 1M raee of apt per eeDt (."') per annum,
10. To delher tlM absU!Id or abstrac:ts of title coverllll tile IDbrtaapd pro~rty ~ Mortgapt or ire deaipatee age'~t, which Ib.ll at
.11 times. durin, the life of this tlI()rtgllle, fftIlvn in the pceeasion of ~h. MoI1KI4~ and in ennt of the' foredoeure of Ihis mortgage or other
nan.fer of title, !ill rip!, title ud IntenM of the Mort".pr lD and to any .uch ab9tr1lct or abstracts of \itie IIhall pan to the' purchuer or
grantee,
oi"
II. That ~ wainr of any ooovmaot h.nin or In tbe obUration ileCUred bueby ,b..1I at any time hereafi:er be held to be a waiver oi
MY of the o<<hllt t.1"IM hertOf or of the DOte aecund hem,.
12. That in or1iet to accelerate tile maturity of the iDdebted_ hereby lCC<lred beeaUN of the f.il~n of the Monp.li[Or to p'}' &ny tu
_-. lial:.>i1ity, Qblip:rloG Of mcumb."U.CfI ~JKlD aald plOperty II heNio provi<led, it shell not be ntcftl!.IIl'}' nor requisite ,bat tlu MOI1&qn
dlall fi.- pa}' tbe ._e,
13. That If the Mortppr .hdl fail. ptiect at m$t Dr a ",nod of thirty (10) day. fully and promptly to pay tilt: amountt re-
qui rile: \,J be paid b,. u note berth,- aeeured Qr the UitetM dwmn specified or any of tbe turns of ~ lurllin referred to or bereby Ie-
cumi, or ,'tM:,wiM duly, fully and pMilDpdY 10 perforn.l, ~tc, compl]' with and sbide by each, every or lU!Y of the coven ann, conditiona
m stipulation.: of dll. morqp.p. the pf(llDUOOry nou hereby .er.::llred and/or the COOlltntctioc loan l141'~ent, if any, then, lUld ill either or in
lUly of such cvmtl, without DPtic. or dem......td, the taid lII;Wecate lum _booed in .aid pfOCtliraory DOle, I.. ptf:Tio~ payments, if any, and
any and all auma ~ ,",nin or aeeured hereby ,b,1I becom4 dill IUId pllyable forthwith or tbuedt... at tbe continuing opt\.9n of the
Mortpate u fully and teQlpMftly u If aaii aarePte MIDIS wone orl&inany etiruisted tQ I:>e paid at such limlt, "nythiDK in .aid promi.."
!tOte or herein Ul the llOOtr'UJ" OIlltWltbGta.n41f1& ud the Mort~pe .ban 1M entitled ~teupon or thereafter wltbout Mtice or demand 10 in-
millte ..it at law Of In equit,. to eatoree the riab!t of the ~ benunder Of under .aid jlrornillllOn.' DOte, In tb~ event of any def....lt
or bruch em the part of the Mortpaor bt!rt!umfer I'r under .aid Prol,U_" oote, tb. Mortgagee than hu. the c:cntinuing option to enforce
payment of all .ums ~ benby "" acriaa at I.w or by (lull ill equhy to fore<.:io)lC this mort,gage, titber or both. concurreDtly or otherwin,
and OM action Of ".lit mil not aba.. 0: be ... ba~ to or walYItt of the MOMpt(<<" riibt to i.tilute 0\" maintain tb~ oth.r, provided .aid Mort,
~ sbell hue lIDI,. OM payment and latidloctiov ~f aaid indehu-dn-.
14. nat ill ~he eYeD' that Mona...r aha\! (t) conH!M b) tbe .ppoin~M of a reed..er, t";:!lIter. or liquidator of 1111 or a 8<Jbstantial
part of Mo::'tPiIOr'. .wenT or (2) be adj..dkawd .. !>arkrupt or IDIOlvmt. or file II v(}luntary pnicioo ill bankruptcy. or admit in w.-itir>fi: i~
tnabillt), to !Jay i~ dcbU IIIll datlr bcc<:It"n<: Que" or (' l make a ~I _Ignmcnt for the lmI.eflt of crediror~ or (4) fiI~ II J"-'tttion or anlwtr
1t'e1dni rrorganiutioQ or arrangem- with cnditl1>n, or to take advantage of any imoo1vcuq Ill"', or (51 file an answer admitting the mil-
~ri.l a\lqstioM of . ~riOll filed api.t W Mortp;p::.r in any bankruptcy, rtorpl!!zwon or in>>>lnncJ proceeding. or (6) action dial! b~
takm Dr tiN: Mortpgot for lhfi: pu~ of effedina lUly of the fof1!gtJID&, or (1) all.y Ofder, iuG.s>ncot or deeref: shall be entered upon ..
.fplication of II creditor or Mo~r by a court Qi competent jlttWdidion approTina a prtltioD II<<ldn~ lIppointr.dm~ of a re.:dver or tfuMet
o ..II Gr .. Sl.bNatlrial pal1 3f doe Mortpf,Dt"E .-eu aocl such ,-,rdef, judemmt or <tee,.. .ball roounIJc I.IUlIrayed IInd in effect for .ny period of
tlUrty (0) tolIt.<<uti.,.e dliYt, the M('inppe ma,. d1lt\al't' the l:IOte IMreb, li'Cured fortbwith dl1ll and payahl.., whcre-upor. th~ principal of IlDd
dat.> iDtenet ICcrued on tDe OOU and .11 other slltlla hereby lIKuted .b.1l become fonb",'hh dlle i1lld p&yaele u if aU of the ,IliJ ,um. of money
Wfl'I; ori\pQ."lilItlPul:aNd t4 be ,.,ud 011 ludl dey; &rid thel"l!Up.:lD the Mortie~ withOut !'lotiee at dern<tnd may ptoMCute Ii '\lit lit law md/or
in equity b i ~1I -.1ft li<<ured henhy had matured Vri.."T in I,. iJacjtutlon,
lJ, Th.t the Mortpp Of an,. penoa avt.llnrlm by the ~ee 'Da!! ban ttM ript to enm upotl lmd iotpct the monpp
prest_ at !lIl1 r_able dm_
10\,. That tiny .~ Ot ou_ whicll roa,. be 10llnlld or "d....,necd bf the M('rti:a~ to tbe Mortgagor at any time within ten (I 0) yrll.n
from IIt~ dllle of this indeotltt<:. toSftMt with imwm tlietton at the rllte !lined !.:lpon at ~ titl1e of .\leh loan or .d'f1lC\ce, ,hlOll b~ equally sc'
cune! vrith .nc! ban tbe ._ priority ... the Ori,pDlll ind~- IUld ~ 9ubjed to .n tile te-rm~ Rod pt(r\'isio!'lt of ~hit mortgage; provid~d,
tltar t~ aggnpte &mounl of priociPlll ouutll,ndilli at any tim. aball nm nu:td an amount c(!l,ull In Olle hundred !lnd fifty ptr cem (lS(I,!~) of
the priDdpai t.J!lOU!1t oriainally KCtt~ hereby.
17, Thill. if r!qulnd by Mo~, tbe hid Mcltfl"ll/JOr wi:l pay Ullto tbl! MOf'lgaa-. rill the first day of eileh and tnr~' consec"tive
l1I6~ell, a .um eqmol m OM-twl!lfth of dli! 111mUlll amoun( n",,"U:-Y ro plOy lIll t.1t~ I!na ~ta llfi:ainet :he lAid mortpged pl'mUll!$, laid
lU<)>ltbl' WID ti} ~ nrinlltt;:d ant! !:lIlct:ilst,-d on tIN- ltUIOu!J1 of tuea D_e.'i q:aiMt illi.ld ~~1'I:..apd pr-emiJetl for dl<< !,)rvriout YUf, and if
h,rtb~t r~lJirt1.l by M~ot~ to ..ay lOiI io..urlUK'C prffl1.ium~ in m&ll!l('T IU:lg form (III provided ben-lo fur th~ ~lIytl\lm: uf tD:llll Nil! _~i.,
I L T!-w in the '"'~ tk ~ ...Nib tlU$ ~"'tp.g;: I. ;iVttl to 94'tUft 11 Q..\~ fur dM pllrpt'lll! ot fuU8ncing either tM OOfd!truetil'D
of _ bultdlnp ~ dH. t~ _ of ~ ~_ _dill... IlfI e:d8d.... buUditlp.. the :'f;)rtpp:', If reqwfed by w Mortz1l,i,""
UV...1" l\g!"1:~ ro (lEpMit with ,.he MQrtgllilH' rot llll 1i_lllared ~t all lU'nOurnt of _ey oZqIJiIl! ?o tn.. dif1t'1'CtlCE betWf'etJ the nl't P!\1Jll;toedt
"I' th~ Inan_nd th~ tr;fa! !!!~t, U dmrml~ by tM M!lrt:i1p. ~q\1ire-d ~ fully CtmIplrtf' $Ida eon<<rurrlou In acrordl\..."lte ....ir.b tll': pJatu
"no tr,~ifl:::lIl;'31'S h~~f,m: llJbmit~wi by. tl.:~ M"rtg~lfI,l! ~d ~~,,",.,,<t,j b)i ~Il~ ~ortga~J':,. S",!d lIlmf>um (.f. ~m~' $!l*-H bf p!lI;cxd h)' !h~
!\-hrt!illlil"t In iii ''Lo.t.!iil 'I) Pro<<IlI' .~~:.r" m t1"' ~ -:If dij! ~.rtpg;or, 111"1 .:I<! oarl1~ '11..11 t'>t: ~ b)' ~~" M~rt:r;l.l<~ tt:> ~'!I.~ th~ CO'-'i",
e~litlv-i lilnd ;:.lE~_ i>K!l1~ !;r; tOOL..;etio<<! ",jth .:l4hi comt,~ prior t(, &isbllmnl ot tll!. lo.:..n.. It it f\lrtb{Cf agn-rd thllt it, ,he t:'V~tlt
".d OQ\1lIt~ i;t Mt t\lH,. C<<'Ill~ IW; 'Yit ~~ !he dttte n~ In til'f Cm;,l:t\l\.'t!\Nl l.Ql!!\ Agf~'n.lir.,t (If in th~ eYf1lt Will tbe _0: ()l'!1
SilK! OOrntl::r~ .lwlU edIIl! ~fm~ C!"lr>~ .ad ;<<11 UtIIl.u- aU!! wrjfio~ fOl' . ,mod I'ri WI. oei. da)"'l, or if !It.lba,l1t1iii mtltW!JOtl!
~ llbIi !IIt)t ~ ~bl I1lcil; ~ruct1-. t.. w i:A IUi1 luck 1tYU>'f tlw! .kI ear~ ...m, pdllcipal lIItui i~ "'~ hi wd
lJI~"""" ~ lIi1.Id aU ~. I\l't~ MiWy, vJt.all ~ d~ .ud ~,.t.bk furUtwidA lW ~rufte~. !rt th-t ~ ~ ~d ~ArttPlPt, IUI'" in
tlittt a"fSf ttf li~ ~ 01 _it ~ .w ~~ ifIIf " pt~ ~: to \ IG) dqs. oV if ~QbM~~lI! ~u_ p~", $ball rmt ~
mlltlioe ha IIvdl ~f--' M ~ * ~ -.y u !u ~ 'lIIt~ II)t,tJ lffid apom tM M~~ pf"~ and f-Q-m.. , ..~ m. 4. enu"..
~ ~ weh ~t .. it ~ iId~ ~ 1141 ~lW.ollI! hoo:I u... ~; <<be ...\d ~ lI."'-cbr ~Tillll aD& jn<Minl?,
tilt ~ M~ hil ~r _ ii\+AiJ<<ft,- ~ .. Md: .,., '$ illiG l.lpMli saW ~ ~ to fl1lkr i-. 'NCh CO'M'l'attI/ Of II.r-
rar.a-mb *' m8y k ....."" w WfA~ caW ~ a.ad u. ~ llA1 lIMeis 1U\i1i~ if,: asM "!.olwa in PNCa8 ~ end
i~ adtl~ MY a!Zllti M -.,- ~ to ~_ MW ~: lad IUt1 q4 ~l II!k\tiftl ~ by ~ ~ ~n ~Ml
'l'rit:h Wl.tS ~~ tJl~'-" 11* ~ M thIt __to .u ""toaa 11:1 "- ~ lIkaU be iddO!! fo UN W4 pri:t-clf'*l ~ VAd
::1~=. ~ M * ..,. ~.4o!d In .14 ~iMItY ~, .eM thall ~ ~nd by - ~ aM .-n 1M ,.,.t. by ~M ~