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11at is t6e ermt ~f a wle bdos IaiKtueed a loaela~ tW ~eet~yR, tM ~~11 M~ekbd M s~ ~e W? dM d~
we? t«eciowe~ adc a t?. oouet ba~ ju~djcdoa ttiereot tor t6. appolameot ef a ~ et dl aad dosulu tb~ wort~a~ed ~ope*v?~
~t dl t~aia. tocoo~er, P~o~i ~ua chrsaua ttiereat. trae w6aboever ~oura derl~ed i ~nd tMnupoe tt M~ereby apra~b? oo~aaated
aod s~nid t6at t6~ oourt ~I ~01tbN~tl1 iPp0I0~ ~tlCY (lO~I~lf NIt~ fw IMY~I powta ud duda ot e~eoei~ces in Ub wa; and nid ~p~
pdaaseat ~atl se Aade br tb couct a s avaeter oE ~trla t3~6t ~s tht ~sd witlout nieraa » eM ~dequ~ep or toad~9n~ oE eb~
'ralut oE t?s pcoperq? ~sreb or oo tM ~ol~toq or iaohmq? ot ae aa~? et?es pa defeadaot ~o ~nd~ ~W~ TA~
Mo~~ar 6~b~r •pedf~ea~l~~~ riibe a oblea a tDe ~ppotnusmt ef : va aforeaid .ad ~~by espreab ooa~we c?ae wK? ,
a~
~t ~6a1~
1~~ • d an admitted equiq and a~ a matter oE ab~olut~ ei~6t w t6t D~oet~a and ttiat tM tan?e mq ee don~ wic6ow
Tru tE ay? praoadtop ~ould be imtttuted apimt tbs pe~operp ao~etea M eW~ atortp~e nPoaa~r otDer liea or c1aLn w6aher
~upe~ioc or juoio~ to tbt llee of tAi~mo~a~ tbs Morcp~ee m+V tt ib optioo imeoedistei~ npoa ia~itut~ oE we~ ~uit ~ durias tM pa~d-
eotp tleteof declsre ehis mo~a~e sod t?e lndebtedoas ~eenred 6enb7 due aod pyr~ble foethwi~6 aod m+U? u lb opdoa preeced ~o toreclow
t?is mo~tpsa
7. To par all aad t6~ co~a1 fea~ ds*t'a ~ed aPea~e~ at re+~ ~~1~°~ tre aat of ao ab~trsa ot titk ~o uid land~
[ound to be oouneaieat or e~ ieot is cooseabs witr aq~ wit fo~ tM ~ocedo~oa at ~or~p. aod sla Ineludiai. wbetLes the~
b obGpced ~s same oe aot. rwooabls ~ecocaq"~ f~a iaeaeced ~t expoded ~t aq~ date by tM l~o~t~e~ becauM of the lJlure a~ tb~
1do~a~ w oaopl~ witl aad abide b~ ali oraa~? a~ t~s ao~eaaaa, condteiaas ~ad ~tipnladon~ oE ~aid ~comtioq? nutt. os t61~
mottp~ ia fo~eelaun oE t6b ~ed tn oolleaios dN amouot ~e~aced becebY wtt? or wttbout lesst~~~ooeedln~, aad ts cd~ .
bune tbe DRoec~a~ee t~r r?eqr Pyreeat ma oe laeuned ~or ~ snerpurpae wh1 toterat trois dut ot e~eqr p~ at t6e rate o~
d~ Per cek (=9i) per ana~o: a~c! P~1~ ~ ab~~ wttr ta~aat treeeoa a a~oraaid. ~11 b~ ~eeured bp tbe Uen ~eceot.
1b teep tbe butidin~ or ad~p ne~w or bereaf~a os sdd lasd lwne~ed ~ low o~ damap bp flrS estcoded o~et~e aad
ot6er Perih. ta~iudias wu rLk Iawraa~c t~ a~ailab~wm aot lea t6an t6dr Iuil IowcaWe ~alue at t6e oat ~nd apen+e of ebe Mat- . ~
~or iu a ooopaqp or oompania appro~ed b tMe t6e P~7 or polida to be hdd by t6e aad wch poliey or polida ot
- insuraaee s6all l~re aHiud tbeceto ~&and~New Yock Cla ~ atl lon or loMa uoda~ poUcy or po4da Wribk 1s
t6e Mo~asee as ia iacerat may aPPear~ aod eo ddi~er sai~~~ o~ ~ia ~o the l~IorepRa wbm laued wltb tbe radpb iw tbepa
7-
meat of tbe pradu~ t6ecefor; and in t~e e~eat aqf wm of becama ~ unda wch polic~ oe poltdar tie Mort~a~ee ~DaQ ha~e
tbe optioa ~ raain and appbr t6s aoe on aooouot af tDe b~~ ~aeared ~ or to permit ctie D~Sonp~or tn reoei~s and we iy or aap
paet chereof, for ocbee purpaes, witlou~t t6eceby wai~ins or impairinf W eqd4• liea or d mder o~ br virtue of tLis aud
tlou
~ ~'Mo~qa~ee if it dams naa~srpma~r pl~aee and pyr fo~ wx6 io~u~ooe~ o~ aqp part Mrlt6out laio` wairia~ or af~~lort~-
optaa ~o ioralo~e for beeae6 of thL oo~aiauy or as7 WK t6cren~ ~ ~wP dg?t or uPt~oo uada t6is ao~asS and a?u7 s~ P4~
~w
ment ~6a11 bcar interat fcaa dm d~ecc+of not~t paid u tbe rate of d~ht per aat (i~~X~r) pa aaaus, aod ail suer pUmenu witb inte~at ar
aforpaid s6aU be seeuccd b t~e 6es kreof. Ia the e~eot aay loa or dam~s b w~fered Ir~orti+~ s6aU n~if7 Mo~s~a o~ we6 lor or
~~s6alt har~e th~~~
6erdn p
n for aU
~a~u1b. trereof; tLe hilnrt !o iire sneL nodee ~ball tomtitute a detau ~nd ttie Matp-
To perady oo~mit oe ~nfk~ ao wa~te aad 1o mdotais tre im~ u aU tima ia a~tate of ~ood «psir aod ooad~dou; 'aad
a do or e w be dooe a.aid pnmi•e. ao~hins ~6Sc ..iu aher or cban~e ~Ye u~e and eharaaa oE s.W propaep o~ is aar wy ia~p.ir or
watm ~seeuriq ot said vortpR Ia we of tbe ref~ral. ae~leet or iw6ili~! aE etie Korep~ w ~epair aed aiaiaain aidproperq~ tM
Mort~ane mal?. st [ts optioa, aake sneL repsin or awe t~e ame to be made and ad~aaa maois in ttiu bebalf w6ie1 waa~ ~bsll be ~eaired :
b. tUe lim ber~o~ aod bac inteaK u tLe rue o! dih Pa oait (t%) pa amas.
10. To ddirer t6s ab~traet oe ab~trstb of $tlt om?ain~ ttie aoey~peopert~ to Mort~a o~ ib da~oated a~ent. w6icb s6a11 u
dl tima, durins t4e Gh of tW~ ~sorti~e. remaia tu tre poNawa of tbe asd ia e~ent of tbe tecaelanre o~ t6is moetsa~e or ot~a
aaasfer of ddR. all ~i~ titk and interat o~ t6e 1~ortt,a~ec in aod to aU? wJ abtraet oe sb~tr~dr o~ Btle s6a11 pm to e6e pnrc6a~ er
,
11. 'lbat oo waim o~at~? os~eout 6erein ar In t~e obli~ ~ecurod re[ebj shaU at aq time laafus be 6dd ts be a wai~a d
aoy ~ ttie otbcr terva 6ere~ or oE tl~e aote seeused Laeb7. .
U. Trat Ia order es a~oodeaee tbe mamrit7 ef t6e indebadsa~ 4nb7 ~ea~re~ becawe o~ eM fatlure of t6e Mo~ ~o W7 WP ~
a~eaaoent. liabil~q?. obliptiow ~e meumbn~ce npos atd proparyr a~ ~exi~ pe~ided. it a6s11 aot be ~eca~sr7 aor K4uisia tLat tre 1~ort[ii'~+
s6a11 8rat pa~ t6s wse. ~ -
13. '1'rat tfot?e~ stiall fdl, oe~leet or refu~s petkd ef ttiisb? (30) da~s fdl~' as~ p'~P~7 ~ M7 t6e amouoet is-
qui~ed ~0 6e p~id bp ttie aote ~ereb~ seeured or t?e iaterat ttiereia spaiRed er anl? ot d~e wa~ of moaep ~erein referred to or baeb ~
eored. or aLerwLe dd7. ~7 ~ P~~7 ~ Pa~mr oou wtth aod abide bp aeb. e~er~? or a~? of tLe con~aoa, ~
or stipntatioos of t6b mor~ t~e oote ~M the oomtructias bss a~e~y if ao7. dien. aad iu d~ or L
aay of wd~ e.e~ wit~oat aotia or t!e ~atd s~s ~oo~ is saM p~om~ P~ W~. if anr. ~ .
aa~r ~od ail sum~ ~atiooed 6ada ot ~eeured tiee+eby a11 ba.~ome due a~d parsbk ~rrit6 or t6erai~er at t6e coocinuia~op~oe of t4 ~
1~1ort~a~ee as fnll~ and compleed7 w if raid a~ep~e wm~ wae ai~inaU~r ~ stipnlated to be paid u sncb~, u7t~iui In said ~nmiror~
aoce or heran to t6e cootrar7 ~otwit~adio~ aod t6e Moetp6ct ~6a11 be mbtkd t6ereupoo or ttiereafar wit~ aoeiee or demand to ia- ~
~titute suit at lars o~ In w enfaoe t~e of tbe Moct~aRK recemder er uoder s~id pramiNOqr ~wte. In tbe etent of an~ dcfanh ~
ee breaeh aa tbe put of~i~K~ tiae~or under said promiMOq naS tbe M~t~ee s6d1 6rn ttie oootinuins option to enforce
Wyment of all wrm ~eenred ~ceb~ action u bw or aut is ~o foreelae t6ia mort~e, eitba•o~ bot6, aoocur~atl~ or otherwke.
and oae action or wit s6a11 oot abaa or be a bar eo os ~ier of tM~i~tpgrc's ri~6t eo i~ituee or mai~ia tbe ot~er. poo~ided said 1?~ort-
: ratce sball han oay aoe pa,Tmeot and ati~factjoo o~ said iadebtedea~.
14. Tbu in t6e eveot t6u ~or s6sp ooosent es t4 appoi~ ef a reed~er. trwtee o~ Hquiduor of all or a sabantid
Parc of Mort~oe's a~eb. oe (Z) be~idieated a b~eopt ot idoi~at, oe Sk a~ol~ar~ pedtion tn bankrup~e~ or admit in writiog tb .
iaabiGt~ ts pa~? tb debts r tbe~ 6eoome ~o~ or (3) taske a~mersi a~ipMOeat for etie 6wetit of veditas. oe (4) ~k a paipoo or answa
~bni reo~anisadon or arraosemeot witL endItonr or ~o take ~d~ant~ of ao~ In~l~enc~ Vw. o~ (S) fiN aa a~~i
w
terial a1lKations ~ a petitioa fikd s~aimt tbe Moct~a~r in s~ bank+nPa7. eeor~adsatioo o~ jwoheae7 'Pmaodi ot aetian sLall be
takeo b~ ~e Mo~s~or fo~ die pnrpae of elteains aa~ of t?e ~o:e~oin& or (7) W order. judpnent or daecee aU 6e eaerad upou ao
a~licatioo of a credioor or Mortp~r b~ a oonrt ot oompetent ~rndieaos appror~ni • P~~ ~t ~PPannnent of s reeeirer or tnntee
of all or a w6~d psrt of t6e Mortp~s aNee~ aad sueh ind~en~ or deeree s6a11 oootinne ~mta and ia effea for aa~ period of
t6ir4 (f0) oomauti~e da74 tLe Mo~t~ee mq dedare t6e nae bcreb~ seaued fo~ekwitti due aod ps~ab~wbereupoo tbe prineipal of aod
tbe interht aoerued m tbe note and dl atbet sums 6ercb7 ~eeured ~6s116eoaee io~whh doe aad paribk as if aU of tLe ssid sum~ of mooey
~ were ori~iaallr ~tipulated a bs paid oo a~ dar; aod tLeeeopoo tbe Morqa~e without naia or demaad may poaaute s solc u law aad/o~
ta eqmtp a~ if all moda seeuKd ~ereb~ 6ad m~torsd ptio~ to hs ia~titudoa.
iS. lbat tbt Mortia~e or sny petaoo anti~oziud til ttie ~foetpja s6a11 bare t6e ri~Lt eo taar opon aod impect eLe ~rtp~i
p~aoaa u dl rea~onable dma~
` 16. T6u aq~ ~ or wm~ wric6~auy be baned o~ ad~aoad br tLe Mo~t~es ta t~e 1~oetia~or +~t aop tlme witLis ten (10) 7an
t fcare d~e dm o~ ehis IndeotorR, to~6ee witL interat ttieoeon at t6e rate a~eed npon at d~e time o~ ~ loso or ad~ano~ s6a11 be equallt a-
t eured wttr and 5ars tbe w~s p~iorh7 a~ t4 ariainal iodebtedw~p aad be snb~et w sll tbe tums aadpo.~~~oos of tbis moc~e: Pron
ti~at tbe a~repte aoo~mt of Pri~PV ~~t it an~ ti~se sbap aot e~oeed aa auomt eqwl ~o me h~mdred aad l~ie~ pa oa~t (fS096)
ttie priaeipsl amo~mt a'1poaU7 secnnd l~ereb7•
l7. Z~sy i~ required b~ No~e~ tLe said 1~ortsaDor wi11 q1 ~o e6s ~dat~s~, M tie Sr~t dq of ach aud e.en ooo~ead~re
~1~ a ms~ ts aao-twditr oE anoaal amouat seoa~ar7 M Pa7 dl tasa aad.a~e~meaer apta~t tM s~td awrt~ed p~ aid
moot6i~ sam to~e~mated sold~ b~ Mortsa~ee aod akulated ~o be a~ ~sowt ~oc Iw e6a~ tie aoouet aE tua are~eda~wt ssid moec
p~1 premises for tie pre~iors rear. asd i~ fnr~Ler roqoircd M~i~ ~u pq slt tmuraooe piemtams ia m~uer sod tocs r p~ovided
ferdn for t~e pa7seat o~ ta~a and asa~seatr.
1~ Tbst ta trs e~eet t~e lo~s wtiie~ tmi~tp~ t~ d~s to ~ew,n b is~ds tot t6e ~f ljs~odet eieier tbe ooa~true~
~ ~ oew bdidtap or tie ooartruedoo of impos~ra~awHS ~ed/o~ s~diti~a r baiidiap. t~e . ifr~quired bf t~e No~ee,
: ~lr a~rea ~o dePait witr tie blorep~ee or ies daip~and a~eot ~o amouot~ saief eqoat Mp
~~Hee+eaee 6aween tbe net peooced~
a~ e~e ban snd t4 ~oal amow~, a~ deoumieed b~ tre 1Rort~eq a fnUp eaim~e ~afd coartraaio~ h sooordana witb tbe plsm
~ sod tpedfieatfoo~ rartofore w6o~ued bf d~e ~~tp~x aad aP b~' ebe ~eet~p~ Sdd amount of mooe~ ~6ap be plaeed b~ t6e
No~a in s"Loaas in PeeeeN Aoooust" io tbe oame aE t6e ~ aod tbe am~ ~sU 6e wed b~ tie Mortsaace to Pap t6e oou~
g e6ar~es and apema tocurred in oomeaien wic6 aid eoa~roc~ prior ~s diibn~dn~ oE t~ twd It b fnetber aQced tLat is ttie e.eaR
~ said oomtruetion L mt fnUy conipleted o0 or betore eLe d~te ~tated 4 t1e Caa~teuaien Loaa or is ttie event du the wort aa
taid ooortroetioa s6ap oea~e befon fnll oom~laioo sad we5 awtioa sSaU coodsne tor a period tw (10) or i( ~aMtaoBal ~oodnno~a
w
~ p~o~ras ~haU oot be raade in wc~ oomtru~ao. tbeo aod ia aay sne~ e~at tie aid a~epte sas. PcioeiWl Lu~rat. mentiaaed in aid
: promd~oq notq and aU mooia ~ecmed bereb7 sball b~oane due ~nd pqabk forebwit~ ~ ttiereafoer u tbe optioa oE said 1Sor~~ce: aad i~
t~e e~a~t of wd~ owaeton o~ work~poa ai~ ooo~roaioa for s pafod of ees (10) dap. ~ i! ~al ooaduuow pro~res ~6a11 ~oc be
~ made ia wt6 ooo~truetio~. a a~rnaid. tbe 1So~ee mq at ib optbo eota ~o aod npou t5e t~g~ premises aad oompkte wd car
f reruecian tn w~d~ aanaer in h d~em~ ad~iabk withoot an~ i~erEereoos fcom t~e MorepOor: the add Irlo~tp~or besee7 ii~i ~ L~oi
~ 1o tbe Mort~a~ee fnq pswer aad sutbo~ib to make sneb md7' iMO aod npoa nid mo~tpted prast ~o eoter ~o suer eootnas or ar
~ r~„n~rmeois as mq !e oeoas~r7v a oomptae ~aid ooo~netim. u~d eo eipmd a~r oooie nmmJnios in~aid "Losm ta P~ocas Aooouat" ~od
is additfoa an~ swos of oo~e~ ueowar7 to oompkte said ooo~troetioo: and aa~ aod ~II 'ooda acpeaded by tbe Mortp~ce i~ ooaoectio~
~ wfer sue6 oompktioo of eomtrocdoo in esoas of t~e moota in said "I.osa~ In Proce~ Aaoo~mt" sbafl bt ~dded oo tbe ~aid prioeipal debt auA
~ ~hsll dnw tat~rat at tbe rm pro~Ided is ssid p~omi~sorl nots. and ~hall be ~eeutcd b~ tLh mortta~e. and sball be pay~bk b~ t6e Hort~a~ot
z o~ aewaoQ.
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