HomeMy WebLinkAbout1434 . . , ,
. ~ . . !
. . , ~
~ Tsst L eM weat eE a ~dt bdq ia~tit~re~ a t~neMM tlis e~ tw ~t t4p bt aRicNd » y~ry ~t ae~ daw d~
a~ei to~eeba~r~ wk ~s tM oo~et ~a~ jwi~dieeko ttiaeof tar tl~ appoisuaeet et a ~a et all aod~~ e~e mo~ts~ted pcepery?.
~E alt ~ iooo~e~ Oca~ _,Iwa rNmua e~eceof, ~m w~er ~ouea deeind= aad eMreura It M?ereb~ ~peraslp omnaoud
~ad ap~d tfu th~ oant ~da~ i~ct?wtt? appoint wch recd~ ~ttb d~t mual pewees and dueia of reodw~+ is Iit~ wa: tod qidap~
p~otaoment slall b~ osd~ b~ the oowt n a macte~ eE ~ria ri~6t ~o eM aod wit~out c~isnoa es tbt adeqwqr or taad~qwq o~ tbe .
~alw af ti~ prope~t~ oc ~o die ~ol~soqr er taeheaq ot oe aq~ ethetpa~qr dehadaae ~s we~ wia Z'~~
D~o~a~ 6ereb~r ~ped~ fks r~ M na ~ ~bt a objeet a tl~e appoZamKSC ef a rs~ as ators~aid aed ~y a~pra~r ooinead clat wxh •
~ppotam~ot s6a11 be ~e as an admitted pnip and as s matca oE ~balnte rISbt q t6e ~Iocc~et aod t4at ehe wn~ a~q? ea doae aicbaa ,
noda ~s t6e Mact~or.
i. ltiat it W proceedinp ~lonld be imdevted spiat tM propetq? aoa?end b7 t64 mort~e upeeu~? ot6er lien or elaim wbetber ~
wpeebe or jnnto~ ~o tAs i~es oi this tbs Mar~et my u ib opia? immed~at~ upoa Imtitudo~ o~ wreh wit o~ durics tl~e pead-
aq t~eof daelare t6b motcpp and
t~ebudnas ~eenced Le~eb~ da and pqrabk to~ttiwitti asd nu~ u ta opttoa proeeed ts toe~e~lae
t6is aoott~ags. .
11s py dl sod tM oo~ fee~. e?~r~e aad aPea~ af e~ec~ ~Iaeludlos tbe oat ef as abetr~et of dtk te ~atd laad~
touod co bs eoanaieot or in coenec~eioa with ayr wIt ior tbe .toieelosun of tad ~o IndudIo~. wbetbsr tDe Mort~a
b ob~lipeed top~? wa~ oc aot~ ra~oasbis at~o~q"a hes i~urnd a~ acpeuded at a~? ~ INn~a beawe o~ t6e fdlws f tb~
Mortptor eo~~ oomp~r witi aod abide b~ al1 or_anr of tDe oonaanb. ooaditioa~ and ttipuladow ot a[d prani~or~ netq o~ t6h
uaort~a~ ia focalaure o~ d~m~s~ aod ia oollaains the amouot ~eeurtd 6ereb~ with or wttbout lepl pioaedin~e. t~nd to rdm- ,
burse cLe tos enerp pyrment sade or ieKUntid fer sqt weA~urpo~ wit! taterat froa~ dm of s~eryr sneb p~t u c6e zats of
ei~bt Per es~t s) per annwn; snea pqmeab aod obUptiom. with tau~ ttie:eoa a~ aioeaaid. ~6aU M~ewred b~ ths liea benaf. ~
~ tbe buiWia~ e~ bo[~ aaw e~ Le~rafae os ~aid l~nd imnrcd s~ate~ lor or dama~e b~r 8re. a~ded ooverase and .
aha perih, incl~ins wu rblc inwraa~e i available, in a sma aot tat th~n thdr fu[I IewraWs ~aloe at tbe co~t snd upeide of tbe Mort-
Ia a ooa~paoy or aany~nia approscdb~ t~e Mortsaia. t6e PoUqi ae polida ~o bs Ldd br tLe and weh po1k7 or polieia of
tasaranee ~6all 6a~e afR~d tsersss a Saadasd New YBrk Mo~tsa~ee Clan~ sakto~ alf lo~ or loaa m?da~ potte~ or pollaa payabk eo ,
tbe Moe~a~ee b ia iatae~t aa1 aPPar. and m detts~er said polic~ ee p I~o da ~o the t+Io~ee wheu h~oed ~sith t6e ceoeipb ~or thepa~-
. axnt of tbe premimn t6erefor and in t6e tirmt ae,y swn of 6eoome~ under sueD policp or polide~ tbe Mort~a~ee ~tl La~re
t1e optioe to reedrs and ap~ tLe wse oa aooounR of tLe ind~ ~ecurcd~~ or eo peemit tLe Mort~a~or to radre ~nd we ty or an~
~ part there~f. bor at6e: porpae~ wityoat tbereby wat~ o~ im rlat W ~9~4~ Itea oe ei onder or br ~irtoe of t~s mort~a~e• and
the Moetsa~ee if it deam neceaaqmqp
t~aoe and pa~ tos wxh ~ or W part tbaroo~wtt6out latn` r.ai~ios or affeeang ~Iort-
p~sop~on ~n forectae far brae~ of t6is aovasaoy ee aa~ put ~ os aal? d~6
t or optwn nada t6b mortPZe. and e~ap sac6 pa~r~
ment shall beu lnterat fe~om date t6erao~ w~tll pdd at ttie rue of d~Dt per oe~ (t7f~r~.pe~ amomi, ~nd all we6 pymenb wic6 interat a~
aforaaid s6a11 be saured b tbe Uea Laeo~. Ia t6e e~eot ~41~ iat ot dama~e b raEhred Mort~or srsU n~i~j? Moet~ee o~ weh loa o:
• dama~e witLia fort~r-di~ ~N) bour~ afta d~e Usyp~~ thereof; tbe failure to ~ire snt6 ooHoe ~haU ooo~titute a dcfanh and tbe Moetp'
see s6a11 hs~re tbe rishts l~eia ~tien for all dehulb. -
f. Te pecaAi; a~tt a~ wfier on w~ate and ~~otain t6e Ln~ u ap tisa in a~tce of ~ood repair and cnodiuoa; snd
eo ao orpe~ c~e be doae ee sata ~ami~a oomtns c6n will a~cer o~ eba~. s~e ae .nd etiaraeees of ~atd propaq? or in any ..a~ iu~pai~ oe
weaken tbe secctip of satd~o:t~a~e. Ia we o~ t6e rcfasal. aedea a insbtBd? o~ t6s ~ot~ ~s zepRir asd msintain »id propcnr, chs
Mor~ee my?. u io optioo„ maks aKh repatn ar awe t~ sama m 6re ~1s aod adrsnoe mooia ts tLat be6alf w~ wnr shall be xeu~cd +
b~ tbe IIm 5eceof aad bar iataat u t6e rate of d~t Pec o~t (t96) pa annmo. ~
1Q To ddirsr tbe ab~traet or s6~trae4 oE tlde d~e t~ p~operq~ to Moetp~et or tn daipated s~mq veWcb *6dl u
~ d! tima„ darias tbe Gfe of this moetpse, tam~ain is ttiea~ ef~~~ 1~ aad tn e~au ol the foeeelanre of tbIs morepge or ocber .
tra~fer of ade. aU ci~6e, dek and ia~a+ac o~ tbe M~o~ !a and to aap? ~ocb s6~tna or ab~usen o~ bde s6aU pau ts che pureba~er or ~
i~~ .
11. Zbaat ss watrer efa~ oe~maet 6a~dn o~ in t?e obG~ seenred I~eceb~ ~ap at aa~r ttrse 6ereafca 6e heW ~s be a wJ~cr d
a% ef tbe atLer terms hereo# or o~ the no~e ~eeortd heeeb~. .
F,-
1t Thst in order ts aooekraee ebt matantq of t6e tsdebtedent bee~eb~ seore~ed beeaore ef t~s fallw~e of tbe Mo~ ts ya~ ae~ tas r'.
aa~eament. Uabilid. obli~edoa oe eaaambranes opon aid p~opeeq a~ ree~d6 p~v~I3ed, h~aU aot be oeoarsrt eo~ re9oistte tbe Mon~,ata
•6aU Snt pUr tLe samc.
lb Ttiac ~f the~ sdau f.q. ne~lect or refo.e ~or • re~iod of tLiev l~) d~r• t~p~ •oa P~P~s ~ wr ~e amame ra
quicsd ~e be paid 6p t~e note ieeeb~ ~eevred er tbs ~Stereit tLaYis spedRcd or aeU? of t6e aw~ oE awae7 6erdn ce~aced ~s oe hereb~ k- ~
w~
eured. er ot6erwi~e dnb. fnl~? aad prom,pd~ m perfo~m,~ aoecot~ ~oem~y wltD sed sbide adti e~er7 ~c ao~ eE el~ omrenaots. oondicioa ~
~at~
or ~i of tLis d~p~om ~ aote ~ee~r se~rod ao~Ioe ibs eomtro~oa a~. i~ ~U?, and in dt~u or In
m~ o~ web e~mt~ wItLout nake or demand.~~the ~aid ag;~epte mm meatioued in said Peomi~wy aoc~, ias Pca?iow Pa7menn. if and i. •
an~ aad aq smm m~tioeed hadn or ~eenred Leceby siali Leoooe due aed pa~bie f~r~wr~th or t6aah~ u tbe eootinu~ ~ of tbe .
Mott~asea as futir and oompkedy ar if tafd a~ste wms wae eristnail~? sti~ b be paid st wch~~e. aw7t6io~ in sai pnmis~orr
aote or 6erein to tbe ooouar~ notwit~io~. sod t6e Mortp~ee ~1aq be endtkd~ttiereopos or ~ wit6out noeiee or danand co ia-
sdtate ~ut at law or ineqoit7 to miforoe the of tLe ~ort~~ee baeunder or onder ssid praoiaor~ s~ In tbe e~e~ of an~ dehnlt r.
or brach on tbe put of tLe ~ ~ a or nada ~aid pramisws~ notS tLe Morcpsee s6aU 6a~e tbe aootiunins opciaa eo eoforo~
pi7ment of dl sums ~aenred ~y aeeton st !sw ~ suit tn~~ to foeeelae tbb meet~r, dtLer er botL. ooocnrrentlJ? or otLerwise,
and ooe aaion or s~dt sW~l1 not tbate or be a bar ~o or ~ier of tbe Morepree's ri~t b imdtn~e or a~aiotata tbe aLer. pro~ided said Mo~a
piee aLall ba~e oal~ aoe pa~mmt and ad~actiaq of atd ioidebtedaw.
1~ Tbu in t6e eneat tLu ~or~LaU (1) eomeiu to tbe appoiuaseat ~f s ieod~er. Mstee or tiqvidaeo~ of all or : iob~cantial -
L o!
put of Moct~oe'~ arat. or (Z) 6e~idieaeed a bse~pt @r Lrol.e~ or 8le s~olnotae~ peddoa in banlunpay er admit in wriein` io
iasbiliq to p~? ib debes a~ t6q 6aoans ~ue, o~ (1) malos a~eaaal a~dp~mest for tLe beoeBt ot aediton, ~(4) ~k a peticion or answa _
seduni norpu~adon ~ arran~eme~ wits t~~oe~ or to tate adnaa~e of au, ia~oheac~ law. ae (S) Sk an ~aswer admiedn~ t6e ms-
~ ariat ai of a pairJoa Skd ~aimc t1~e Morep~r ia sn~ bankrup~ep. reo~anisadoo or imot•m.7 P y~ or (6) actian ~6a11 be
aka, bpt
t~6e~`f~ ta t6e pa~po~e of dhe4nt of ebe foeeDotn~ oe (7) anr order. Ind~at ot ~`s6alt be enteraa apon an
applieaeion of a c~edioor oe MoetSa~or b~ a oourt of oompaak~nri~dietioo apprario~ s pedtioa seekia~ appoiannm~ of a raa~er or uwtae .
o~ aU or a s~bstantial part o~ che Mo~a~~ arets and sueh er~ jnd~ or deaee sLsU ooadaae m~tqcd and ia effat fo! a~ period of .
ebiet~r (t0) oomecnd~e dqs~ tbe Moetpsee may dactus t6e aote 6eceb~ ~xnred foet6witb dne and ps sblq wbere~po~ cLe prinejpat of wd ,
t6e ,atere~t aaroed oo tbe aote and ~if a6er smm 6ereb~ ~eeond ~6s11 beeane toetbwitL doe ~nd p~Tabk as !f aU of t1?e said sn~ms of o~ooef
• were ori~inal~l~r ~tipWated ts be paid oa snch ds~; aad theeenpon tLe Mortpsce withaut noooe or demand may pen~ecute a snit st law and/os .
in equtq as if aq moo~a seeaeed Laeb~ bsd mswred ~ to ib imdcutiao. '
IS. T6a ebe Morep~ee or anr per.ou ,~ncbo~ised b~ ebe Me~csasee s6ait hs.e e~e ris6c a mur npon aod iaspaa che moe~ ~
pranisa at all reeooabk timea '
16. 13at an~ wm or sumt w~ie6 m~r be ~aeed or ad~aooed b~ t6e Moet~pe es t6e Mo~o~ st an~ time wit6fn tm (10) ~eus '
fras tLe date of tLis iadentnre. to~et6a witb incereat thaaoa u tbe rate a~eed opoa at tbe time of axy ban or ad~~nce. ahall be cqnsll~ ~e-
that tbe a~epte ~meunt of pri~pa ~out~aadin~it a~ep time shaU~not~~ as amomt ~qwl to oae 6mrd~and ~~(1S0~9ib
~
` tLe prineiWt aneount ari~inaiy ~eeae~ed beeYb~.
17. 1bat. if seqidred by ~ee, tbe tdd 3so~tis~ot w!I! pap meo t5t Mertp~ee, os t~e Sest d~~ of eac6 and e+rcnr ooosecud~c
moot6, s rum~1 to one-twelft~ o! amual ~aoo~at aecwart eo pa~ aIi u~oa ~ad ~ apiast tbe said a~ort8a~sd Pnmisa. uid
motiddy mm to be atimated sold~ b~ Moet~ce and akatated ~o be aa amount oot ~ ehaa tbe amount a~ n~a aeated agaimt said morr-
~ pged pramisa ior tLe pre~io~s ~ess and if fnetbec reqotred t?7 Mo~tga~a oo pq aU imurana peemiuar in manner and foem as prorided
6erein for tlie pymmt of wop an~ ara~a~eab.
1~. T6at ia tbe eneat t6e io~n wmeL t6isa~eet~e b d~ee to ~eeare b aude ~et t6e of Sasodns deber tbe eoo~edoe
0
of new bnitdie~ o~ tbe oomtsucdon of Impnoaremea~~ aad/or addilio~a eo ad~do~ baitdtnq, t6s oct . ifrcqaired b~ tLs Mort~atee.
szpreMl~ aQce oo depo~tt with the Mort~ee or its ded~oued a~st as a~mount o! teoae~ equsl eo ebe ereacs 6etwan tbe nct
of t6e loas and ttie toal ~mouny a~ daermined b~ tLs ~b~ eo falh? aompkse ald taartr~oato~ in ~ooordana wic6 plam
' sad spedfiae~a~ ~r~nfose snbmitted b~r t6e D~oc~o~ aad :~~~b~j
tbe M~ Said amomt of mone~ shall be plaad b~ t6e
Mat~a~ee in a"Ioam ia P~ooeM AoooanP is tbe aame of t~e , snd tbe same ~6at1 be a~ed br ese Mort~aaee eQ par tLe cbsg,
e6arga and ~peasa ine~red in ooa~aa wFtle ssid oo~o~ or a of thb lwa. It b f~h~ a~e~ thu In tbe ermt
said oo~atroeaoo b not fuli~ oamplaed on oe beto~e tbt da~te ~in t~e (~~~oO Loan or in ttie erau tbu ti~e work m
said oomauaioo ~6ap aa~e befon fuq oaa~ietioo snd soeA oe~aBon s6a11 ooatiaue for a pesiod tes (10) da or i~ ~oMtantial aontinnoos.
p~ w,tll not be made in ~ue6 aoosteuaroo, t6en aod in a~r we6 e~aoR tbe dd a~repee sm4 PRndPd ~ interat, mentioned in ~tid
yromirorf not~ ~nd atl mooia secaral becebp ~6a11 ba+ane doe ~nd pa~abk ~atbwit~ or tLeceaEoa tt ebe option of uid Mnrtgasa: and in
t6e e?ent of sac6 oasatEon of sork n sai~ aoo~troaion !os a period ~ ten (10) da~ or if a~at eontinnous pcr~rps d~all na be
a
made tn weh oo~ao. as aforeai t6a b~~t~ee cas7 u its optioo eoter iuto and npon tbe pre~a aad cornpiae said aoo-
rtrnedon in wc~ manner as it deae~ ad~itabk t6oat aar Ioterfcemee trom t~e Mo~a~or: t~e ~~dy~ 1Kreb1 d~s
m tbs Mo~e fnll pwnr and tat6odq? to mate weL e~ ta~ and o wiid
p011 LD dltlt ~DtO fI1Cb COOttiCb O[ i~`~
nngaoena a asq be n~oasar~ to oomplae ~aid oomtrocaaa. and m espa~d anp mooia am~atd Zoam in Peoees~r Aooow~t" aad
in addttiao aar-~urne of mootT aeeasar~ to oompkte taid aoa~etnedon; and an~ sod dl mooia ezpeoded b~ ttie Morcgaaee ta aooaa~ion
wit6 weh eomplaion of ao~ruaioa ia eses~ of tbe moaia ia said "Loa~ in P~ooe~ Aooon~' s6ati 6s added to ebe said prindpa! debt and
•bail draw incaat ac cbe_ raee prd.ided in satd prowisarf na~ aad aLsll be ~eeoscd b~r tbis mortp~ and s6~ t~
~ oe aemana. ~r~ ~ ~
' fl'dc:
~