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s. T~u 1~ ~M ereac of a wic bdos io~deuad a to~eelas ~i. a~o~apr ~M ~~pe ~.11 N mdeled » a~q? .c aa~? daK durias
~ueh foreelowcs •uic ~o ~he oourt 6a~ini ju~i~dkdoa c6~nof toc the appoioameut oE • .ee of a11 ~od da,~ular ~ie ~
' aE ~li ceaar iacoma. O~o~ia, iaue~ aa~~rr?euua tb~reof. fro~r KB:c~evsr ~wcas dscirr~l~ at~d tncr:u 100~~ ProP~+V• soa
and a~ccd ~6u c4e wu~t ~hsll for~6w~cY a point ~ueb ~d.a v~tt6 cM wutl P~ it L hesibr ezpres~l~ ea~ea~ted :
P ponen ana dutia ot r~eei~en ta Ub caa; aud uid ap-
poioaaeat ~ball be made by c6e oourt a a matter of ~cria ri~At ~o tas ~ aud wit6out reEeaaa ~a tbe adequaq or Insdequac~, of tbt
~slue of tbe pcopectp bercb~ a~a~rtsased, or ~ tbe whcoc~r or imolr onsa~oe or W otber pa~r defwdsot t~ sueh ~ut~ 1bt
MonQa~or ~ercb~ ~paifica 1~ wai~a tse ritbt eo objeet to tbe ap
a~ta~~sat of • raa~er a aEonsaid ~ad 6e~r ~~tr ooo~a ceu
, ~ppoiatmeat ab~ll be iaade as aa admitted equiq~ ~ad as a maner of ab~olute d~t eo t6! Mort~a~ee and that tbe wne may pe dooe without
notiec to t6e 1?Ion~a~or.
j 'ILat if uqr proceediap should be i~atuted apio~t tbe propatp ao~end bf this mo~t~a~e up~w an otha liea or claun wbet6cc ~
~ ~upecioc o~ juaior eo ehe Uen ot thi~ t6e Mort~a~ce may u its optior? imme~diatd~ upon iwtitudoa o~web suit or durins tbe pead-
eoe~ t6ereof dalare this wort~a~e and
t~ebtedness ~au~ed bercby due aud py~able to~thwitL aud mar at it~ option procecd ~o fo~eclas '
~ t6is mo~tg+t~e.
7. To pay all and ~in~ulu tse oo~, tea. cliu~a aod e:peme~ of s~req kind, tneludias the oaK of aa ab~tract oE titie to ~aid 1aad~ ;
fouad to be coavenient or e:pedieat ia. eannectioo wit6 an~ suit for tbt foreclaure of tb4mort~a~ and abo iacludinZ w6ether t6e MoK[s~ee
a obGeated to pay wnc or aot. rea:on~bk attwney'~ tea incuned or upeodad st sn~ tlme by tbt Mortsa~ce beeawe of We tailun of c6e ~
Mwtaagoc ~ope cform. oo~opiy witA and sbide by all or aar oE tbe oo~eaanq~ oondidaa aod uipulatioas of uid praafirory notq o~ thi~ ~
awnga~r, in the foreclosu~e of thu mon~a~e aod in oolleean~ cAe amouu~ ~ecund 6ecebr witb or wit6out leeal procecdia~, and to reim-
Dune t6t Mo~agee far e•ery pa_vmen~ made or iacurad fo~ sn~ suc6 ~?u~po~e with iuten~t froao date of ererr ~ucL paymeut u ths rate of
P~! eeat (19fi) Per aanum; sucb papwena and ob4gadom, wit6 ~nterat tLcreou as aforaa~d. stitii be ucured by tde lieu bcreo#.
• t. To kttp t6s buildios or boildin~t now os bereaEtee on sald land iawrcd a~siust lws or damaje br firq ertmded co~erage ~od ;
, aLer perib, includia~ war riak iawraoa if a~ailable. in a twn aot las t6an tIIdr full in~u~able ~alue at t6e cost and upeox of the Moct- •
~o~ ia a aompaay or oaapaaia app~+a~~ed br the Morteagrg t6e pol~cy ot polida to be beld by tbe M and sue6 poliey or polieip ot ~
imunoee s6a11 Save afE'ued tl~ereto a Standard New Yo~lc Mo~tgagce Claose, makins all los or lossa uade~ ~ policp or policia payable to p
. t6e Morcga6ee as ia intenst may appcar, aad to deti~er said policp or potieip to tbe Mortgagee whea iswed with tbe s~ccipb for t4epa +
ment of tbe premium tberefo~; illd ID tIl! lrtpt i0y itlol Of 1lWII! beco~na pa~rable uadcr suc6 poliey or po4aa~ d~e Mortgagee ~hall have
t6e optioo to recei~e and aPply t6e ~ame on aooount of t6e ind~ secu~ed hereby or ~o perniit t6e Mon 1
ooou ~agor to ceceive and use it~ or any
part tt~ereof~ for othcr purposa, ~~itbut thereby ~aiviag or impairius an~ equiqr, 1~~ or tig6t under o~ by vlrtue of t6is mortgage• and '
t6e Mortgasee if it deam aecessary mar pl~ace and pay for wch insuraACe~ or ,or p,rt c~~,f ~,.itbout Iwio r.air;
sagee's option to toreclose for breach of this oo~eoaat, or any part tDenof or ~a ri t or o~ ~ oi or affatiag ~bloct- ~
. 1 t~6 ptioa uader tLi~ mo~t~a~e~ and e~ery such pay-
ment sball bear iaterat fco~a dah thercof uatil paid at t6e rate of dgbt per cent (t96) ptr aqnual~ apd all sut6 parmenb wit6 interat tl
- ~si.._..:~1 ~6al1 M~n,.~d ~6e 4ee hercof. In the e~ent anY lo~ or dama~e L wffercd Mort~agor ~6a11 notify Moctqagee of su~6 ba or
. . damage ~sit6ia fortr-eight (H) baen a8er t~e bappening t~ereo~; t6e lsilure to sire sueb notice shaii eoostitute a deftuit ricia wc i~artgi-
gee s6a11 6a~e t6e rig6n he~ ~i~ea !oc all defaules. '
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~ 9. To permiq ao~amit oc suffer oo wate and to maintain tse Impro~emcnq at rll tima In ~ ~tue of ~pood repair and ooadidoa; and ~
b do orpe rmit to be doae to said premixs nothint t6u will alter or c6aoge t6e u~e aod c6arseter of taid pc~opcrt~ or :4 any wa~ impair or
~ naken tbe security ot said mo~tga~e. Ia case of t6e refwal~ aeglat o~ inabilitr of t6e Mo~a~or to repair and maiatsin ~aid property, tbe
MortQagee may, at its optioo. a?ake sucL repaip o~ cawe t6e same eo be made aod ad~ante awaia ln t6at belulf which sum~ s6alt be saured
• 6r t6e lica 6ecrof nnd bca~ interat at tbe rats ot ei~t per oaot (!96) per aanwa.
10. To delirer t6e abusct oc sbrtraat of titk coreria~ tbe matt~a~ed pmperty to Mort~ssee cr ib designated agent. a6icb s6a11 at
all dme~ duriag tLe life of thi~ moct~a~e, remain in tDe po~iou oE the Mo~ssce and in e*ent of t6e foralaure of t4is cnortgage or ot6er ~
' tramfer of tiNq ap ri~ht. tiNe aad !ptllp[ OE tIl! MOftj~~Of Ip and to aay ~uch abKnct o~ sb~tr~u of dtk s6aU pa» to t6e purc6sser or
~rantce.
ll. Zbu no waiver ofa~yr wreasnt Leretu or in tLe obU~atioa tceund batey ~haU ~t to~ dme hereafter bc 6eld to be a wai~cr o1
~ny of t6e a6e~ terms 6ereof or of tLe nae ucured hereb~
12. Tbac in order ~o aaaence che mac~rie~? of c~e indebeedncs hueby ,eenred b«,u.e o~ cbe faiture of ~6c MorceaQor co par an~ eas
; GabiGer~ obligacioa or eacumbrsnce upoo ~aid prupe+q? ar Lerrin prodded, it abap not be ~ary nor rcquisite t6u the Mortga~ee
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13. T6at if tbe Mo~t~s~or s6a11 ~~il. ne~fect or refwe for ~ paiod of tbiet~ (f0) da7s full and peomptl~ to par tbe amounn re- ~
qwred to be paid br tLe oote herebr ~red or tbe intereat t6eidn specified o~ aa~ oE tDe sums ~ mone~ 6urin tefened to or ~eteb~ ~
curcd, or a6erwise duly. fupy sod p~~d~ oo pedocm. cueuc~ comp~lr widi aod abide b~ eaclti ener~ or ~ny of tLe ooreaantti oondition s•
or ~tipulatiaos of tLis mortga~e, tbe prom~aor~ nae hereLr saeared wd/or tLe oomtr~etion ban s~nemeat~ if snY. tbea. and in athee or in j~.:-
anr of wc6 cvena, wicboue noreee or de~nd. the ~aid sg~re~are sua mentioacd in said
ao7 aad all swm meacioaed 6erein or securcd 6ereb sball became due aad p~O°~O~ nae. las pre~ian Pa7menn. if any. and
MortgaEee as fully and owaplad as if raid p wr~ble forch,.~~L or tbereafta at che continuiagopuon of the
r a~cgace sum~ .sa,e octQiuallr s6pu~aced ro be paid at sucb amq an~nLin~ ia s.id pr~+uisior~
note or hereio to the contrar~ nawitmandin& and the Mortgagce ~6a11 be mtitled tLe~eupon or t6ereaker wicbout doace or demand co in-
stitute wit at law or in equit~ to enforce tbe righb of t6e Mortga$ee 6ereunder or uoder ssid ptomis~or~ note. In t6e eveat of an~ defautt
or baacb on tbe part of t6e Mortgagor 6ereunder or under »id Prowis~ note~ t6e Moet
papnrnt of aU sums sccured hereb b~etioo u law or b suit in e ~v! ODDhIIWflg option w eafora ~
Y 7 r qu;~~r a tor~c~o.e ~e~s mo~age. e;ct?er or ba~. oooc~urent~r or a6erwi~
and one acaon or wit shall na ab:te or be a bu to or waver af tbe Mortaagee't ri~ht to iastitute or maintain tbe w6er~ ptorided said Mort- ~
' Yagee sball Lare oal~ one parment and uwfaction of ~aid indebtcdnea.
li. Tbat in t6e eveat that Ma~tgagor s6a11 (1) ooouat tu t6e appoinerneat of a ra~a~c~. tnuta or liquidsto~ of atl ar a subuwdal t~ '
iaabiUf eo arets. or (2) be ad'udicated a banlwpt or imol~eot, or file a voluntaqr petitioo in bankrupth~ or admit in writing ie
tt Ps~ ib debb a~ d~ be~ume ~ne, or (3) tnske a general
~t ~ as~igoraent for the ba~ef't of uediton, or (4) file a petitioa or amwa
satiu~ reor~anisadon or srran ton. or to take ad~uuage of an~ imohmc~ law. or (S) fik an aaswcY admitting tbe ma-
terial allegations of a petition filed against tLe Mort~ag~or in any bantrupocy. reor~anisation or iwcl~enc~ Proceedfn~ or (6) sction shall be
!t D!
tatco b~ tbe Mortgagor for t6e purpo~e of effecting an~ of the fore~oin& or (7) any order. jud~nent or daree shall be entered upon an
a plication of a ereditor or Mortga~or by a court of competmt juri~diction appeovins a petition ~eckinQ appointmeat of a raeirer or trustee ~
eeki
o:11 or a wbstanrial part of tbe Mortgagor'a usets and suc6 order. jud~mw~ or decree s6ai1 oondaoe umca ed aud :n effeec tor anr pe~od of r:
t6irt~r (30) oomccuti~e ds~ t6e Mortgaga lua~ dalare t6e note henb~ ~ecured fart6wit6 due and pa~ab~e~ w6ereupon t6e priacipal of aod
tbe interat ucrucd oa t6e aote and all other :umr 6erebf socured ~hsl! b«~o~e tor~..;~ d~ a„~ wy,~~~ a. o~ tee .~;d swm of monr~
~rerc origioally stipulated to be paid on sue6 dq; ~nd theceupon t6e Mort~aga witbout naia or demand mq proseeute a suit at law aad/or
in equity a if ail mooia secured 6eceb~ 6ad matu~ed prior to ~b imticutioo. •
IS. Tbat tbe Mort~agce or anY penoo autLoriud 6~ t6e Mortgagee shdl 6a~e t6e rigfit to enter upon aad inspect tbe moct~agcd k'-
premius at all n~soaable tiraa,
li. T~t aay wm or ~ums wLic6 msy be losned os ad..noed br ~6e Moe~easja ~o ebe Mo,~or ac any dme wicLin cea (io) ~ean
f~rom t6e date of t6ia indwture. togetber wit6 iaterat thereon at tLe rate agreed upou ~t tbe time of tnc6 loaa or advance, shall be oquallr a- w
eurcd wit6 ~nd 6a~e t6e same pnonty as tbe ori~ind indebtednaa and be wbjat to aU tde termb and prorisio~ of tbis mort~a8r: Pro?ided,
t6st t6e aggrt~ue ~mount of priacipal oubtanding u w~ time ~6ap not emed an amouat equal to ooe hundred aad fift~ per op~t (15096) of
~ P~+W~ ~ot ori~ndly ~anred hereby.
lT. T3u~ if reqwnd b~ Moirtga~ t6e taid Moetga~or v~ill pq mto tbe ~+Iort~a~ee, on t6e first dar of ac6 aad every oomaudre
mooch. a wm~4
ual eo oaa:~.elfch of c~e aanua! araouat uecassrr to ps~ a11 taus u~d a~ram~enb s~aiost the said moctgaged premisa, sa;d
monc6ly sum w be est;maced solcly br Morc~ee aad cak„lued en be an smoanc noc lee d~an, ~be amounc of pus „K„ed a
~aeed Premises for t6e previous pe:r~ and if furcher required by Morcgagee ~o par ali i~uraace premium~ ln manner aad fo~
prurydcd
berein for the paya~eat of taues and a~sa~menb. um £
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1~. 'Ibat in tLe evenc tbe lo~a w6icL tLism~tp~e b p•eo to secare i~ msde kt t5e pur~ae ot finandnt at6er d,e oomcnutioo
of new bnildia~s o~ t4e oonstn~aioa of impro~eme~nn aod/or sddition~ oo e~stint bWldiu~s, tLe Mort`a~or, ifreq wred bf the Mortga~ee, F.
upres~ir agrees to depa~it witL the Moetpsee or ib daignsted igent sa aa~ount of mooey sqwl ~o the differenee betweea t6e net proeecds
of t6e ban aad tbe eoal amoaat, as daermincd by cbe Mo~ce~ reqmred ~o full~ oaoplete ~aid coo~trnetioa in ~owrdancs with tLe plam
ow
and ~pecifieacioos 6eretofoa submiaed b~ tLe Mortg~or and a~pp ~ond b7 the Mortp~ce. Said amonat of mone~ sbsl! be pisccd b~ tbe
Mortga~cs in a"I.oans in Procas Aeoouat" io the name of tbe Mortiagor. and the ~ame sball be wed b~ the Mortgagct to pay t6e c+ow.
e6ar~es and ezpen~e~ iuearred in oonnaction wit6 said aoa~tryctio~ pnor to di~bunia4 of this lo~n. It is furt6er aereed thu in tbe e~mt I
ssid ooauruction is not ful1~ eompleted o0 or beforo tbe due stated In tbe C~rotn~ctron Loao A~reemeat or in t6e eneot t6at t6e wort on = i
~aid oon~truction sha11 cease before full own~ktioo and suc6 oa~atioo ~hall aoatinue for • period of hn (10) da or if substanrial aondnuous
P~re~ shail not be msde in ~uch eomtrucaoo~ tbea ~nd in ~n~ ~uc6 t~eat t6t aid aggrr~ace sam. prfaapa! a~ intcrat. mmtioned ia »id
Dromisory oou, aod all monia secured herebr, sLall beoome dne and payabk forthwkh-ar t6ereafter st t6e option of said Mortgsgce: aud in ~
the e~ent of suc6 easation of work n said eao~truction foc a period of tea (10) da~, oe if ~u~aaotisl cootinuow prog~c~a shatl not be
' made !n sucb rnmtructioo. ss aforaai~t6e Mortgasee may u ib optian rnter into and upon tLe mortgaged pnmtsa snd oanplae said coo-
struction in ax6 manaer as it de+ems ad~isable wit6out an~ i~erfereoce from tbe Mort~a~,or; tbe said Mortpgor 6ereb~ giviag aod granao
,o
; b tLe MortQaru full power and authorit~ to make suc6 enrry Into rnd uPon ~aid mortga~ed praniaes„ to rnrer into wcb onntraca or sr~-
ru~~mena as ma7 be oecessaqr eo oanplete said ooo~tnxtioq and to ezpead anr monia ranaiaos in ~aid "Loaus in Proces Aooount" aod
i in additioo aa~ ~ums of mooep naessar~ to complete wd ooastnrction; and an~ and ail monia apeaded br t6e Mortgagee in ooanectioo
ti witb sucb oanpletan af coostruction in ezcas of t6e monia in said "I.oam in Proee~ Aaoount" ~6all be added to t6e said principal debt aoA
~hall draw iotenst at t6e nte pro~ided in uid promiaory note~ aad s6s11 be ucured b~ t6is mortgage~ and shall be pqable b~ tbe Moctptpr
~ oe QemaaQ ~
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