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i. T?~t i~ t1e t~at ef ~ ~utt beias ia~Ntuted ro tonelMt d.is mortsapr tM 1~t~e ~tl 0~ ~aticled M spWr u ao~r dwt dwie~ "
we6 ~oreclo~un ~dt a tbe couet rs~iuR lurisdictton thaest for t~e appoinp~ne ot • ~er ot alt wd~ t!u ~a~ed P+'oP~+4. ~d
e~t d! raat~ ioowoea~ Protib~ iN~UM sod nveaua tbcreof, trom whabos~a aura dert~ed; aad thaeupon It ~ 6eresy e:pce~i~ co~eawced
aad a~ceed tlu tbt ooutt sbaU ~witb appoiat ~ue6 ceod~a ~ritL tM wual powea sad duda ot recei~s~s In iib eaa; ~ad ~aid a '
potaadeac ~hali 0~ eaad~ ey tbe owrre a a maaes of ur~t ~o tie a~d ~~~~qu~ «~~w~r
~alue of ttie reue~r or tmohaiqr of o~ aq~? otber dsfead~at ~o wch wit, T4t ~
~s~ tiers~p~irPxi~lyp watves 6~~~~to
objea M tM appdnt~nent oE a r~ n atoraaid ~iebr upre~V ~oroena tb~t a~
sPPaiam?ent ~ be made r au admiteed eqWq aad a a auter of ksolute d~t ~to tM Mort~asee aad ~at tL~ aa~ mq? b~ doae wIcbow
aoda ~ ebe Mo~taa~or. .
T6st it ~q~r proocedia~s ~Loald bs ta~ituted a~ato~t ths properbr oo~ered b7 t64 morcta~e upoo an~ ot~er liw o~ claiaa wtiecber
wperior or junioe to tbt lies of tW awrtp qt~bt Mortss~a my? ~t ib opttau imaKdiatsl7? upou Imtltutiaa af wc? wit oe duria= the peed•
~ tbe~eof dalue ehi~ mortsase aod tbs i~~d~tedna~ ~ecuced Saebr due ~od p~rable t~lv~itA and ~ u ib opdo~ prxad m~o~eela~
~~WR
7. To ps~r aU and ~ingulu tie oo~ar fee~ ~aRw aod acP~ ~~M? Ioeludto~ ebe oat ot aa ~~aaw~
t6 ~sfd lsad~
touod to be con~eaient or espedleot to ooon~cetoo witf~ ~o,y snit tor tM tot~ec{aun o! tbi~~o~t~s~e, and abo ind
h oblisated to pa ~anie or 4oy rasoaable at~o~ney's tea tneuKed or e:peaded st W tGst by t6e 1~toeqp~ee betawe of the hif~
M~r~a~x ta ~orm~, caaPV wJt~ aad sb5de br aA ar ac~? of tDe corea~nnr ooadltta~ aad ~iputadoo~ ot aid promt~w~r nots, os t6b
ots,
in c e focedown o~ tDis moKp~s and in oolketins the amouot ~ecured hereb7 witb o~ witlw~t lepi~ pcoeecdinpr sad es
dshtu~~ ~ i9i) Per
a~mum~-,
w~~h P~7meacs wd
o~blipdon, wI~ inte~at tDereon~ato~a~aid.~stiaU~ ~ixuted ba
~
li~ b~see~s
f~~ :
~ t5e MdWlas ae bui~ oow ot Lerahee ae aid land Iawnal ~mt ioM or damap b~ 8~e, e:tmded eoren`t aod
othcr perib. iad as wu risk inturanee i a~ailable~ ia a wm oot las thsn thc~r fnil isiurabk ~dne u tbe oat wd acpcaie of tbe Mort
ta~or ta a compan~ or casp~nia sppi~o~ed b tLe Mortaa=eq t6e policp o~ polida ~o be beld br che b~aad sne6
iasuraoce ~hall ha~e affiud eLereto a Staod~Nrv~ York Mortta~ce Cla waida~ ail las or lo~a uode~ oc~lida ~da o~
c~a~ee a Ia intenst ma1 iPPear. and to delim aid poliep or m t~e Po ~ Mribte to
p~a Mosqa~ee wbea is~ued tb recapa for t6e P=7~
meat o tAe pnmium therefo~; and id the e~rent sa~ sun ofmon~ bcboma uada weh polkp or polide~ tbe More~+~ee ~6a11 6a~e
~ e6e option ~o raaive and app~ tDe wae oa aooount oE t6e tadebtcdnar ~carcd~~r or eo peasit tbe
part thereof. for otber purpoae~, rritliout thereb wai~rins oc ~e eo recdre and we i~ or ae~
the Mo~tp~e I~ it-daa~ a r ~'~Oi ~7 ~b. uodee or b~ dm~e of thi~ mo~a~e• and
~«~ry~~r p1.a .aa p.r ~.~e ~u~rane~ or anr part r?Ithout laioi, wairtas or aff~caa~ ibioet-
p~eee~sopaa~ ~o fotrolore to~ bnae~ of t~a ~oreaaa~ or aqp W+~ tbereof. o? aqr d~c or opdon nodee thi~ mortp~ aod eneq suc6 Wr
meacCS6aU bear intere~t fean daee theceof untjl paid u tLe rate ot dibt Pa cs~ (s'Jfr) aonutg aod all ~oeh p~meaq wi~6 incerat a~
afocwid shaU be secured br cbe lien iereof. In the event aoy taa or damace i~ wffet~e~~ort~~or sbali nodf~ of wch IoN or
damage withiu torty-eigit (Nj boun aher tLe 6aplentn= t6a~eof; tbt fsilw~e to ~i~e soch notke s6a11 eaadt~e a~and tbe biort~a.
sce s6a11 Aa~e t6e ri~6ts 6erein ~i~ea foe aU defantb.
9. To permiy ommit or w~ffer no w~te and to mainqin tbe Imy~o~anmb u sll tima in a aue of ~ood eepatr and conditiooi and
to do or~ eo be dooc to aid premise~ ootbtns tb~t wIl1 aher or cbaa~e tbe we and ebar~eta o~ ~atd propaty or io an~ ~rsy Lop~ir er
weakea ueuriq o~ ~aid moc~age. In we ot t6e refwst, aeslat or insbi4qr of ttie b~ tn rcpair and a~aiatatn pidp~opertp. tye
Morttsgce ma~. u ia o pe a~
b~ cbe Uen her~of and beu~~'interat u~
r~ate o~ eawe t6e ume to be made asd ad~aooe tn t6u bebalf wldeh wae~ sball be sceured
~ Pa ~ (=9~) per a~mmo.
10. To deli~er tLe abtraet ~ abtr~eb of dde ao~ainn~ ttie ~ed prop~t~ ~o No~t~ oe ib daitoated a~eat~ w6icb sUall u
all dme~„ dnrin~ tbe Uk of t6u moctsa~e, remain !n tre po~oo et the Mortsa~ee and ta rrent of t6e ioroetaure of thts mo~age or a~
aamfer of dtl~ all d~ titk aad iatcia~t of tbe Mor~o~r lu and to sq~ wc~ abtnet or ab~racq of dek s6s11
u w par to tbe purc6a~cr oc
1l. T~at ao wai~er ofaq~? oo~eaanc ba~dn o~ ia ttie oblisatioo ~eeared beteb~ ~aU at aq tio~ tiaeaker be held a be a wai~er d
aor of ttic otber teroos 6enof ae of t6e note saaced 6erebr
1Z. 'T6at fp ocder ~o aoeeterne t6e matnritp of t6e Ldebtedna~ 6acb~ ~red 6etaurs o! ti~ fdlare eE ebe MortpDor to W7
aMawneny IisbiUq?. ebl~saeio~ o~ eacumbraou upou .atd pe~ope~ ~ recdn pe~o~?ided, h~all noc be
ssall Snt pa~r tLe ame. seowar7? eor ceq~ite tbat tbe Moct~e
, i~. T6st if ttie Moct~or ~LsU tail, ae,~kct o~ refw~ toe a teriod o~ tl~irt7 (30) dar faU and
qni~d co be p.id b~ d~e aae ~b~ ~eurcd or ~6e ~aar ~bereis sped~ed or aey of tbe wo~ ~ moa a icreb~r a
cured. o~ otLerwise dul7. f~lll snd Pran~tl7 ~o pafotm, ~ aemp1~ wleh aod sb~de br ~enant~a~ door
. er ~tipuiatioos of tbis ss~csa~e, the promu~ory ooa 6erebr ~eenrsd a~d/or ttie oomtruetion laa
aoy of suc6 e~esny witbwt mtia ae daaaod, the s~id wm sentiooed Is sdd p~omi~ory aoe~ lea P~~ W7~. if ~nr. aod
aa~ sad all wms meadaoed 6eeein or ~eeured herebr ap beoo~ee doe and p~abk fo~tiwit~ K thera~itee u t4 aonNnaia~ of d~e
Mortp~c~e n fnllr aad oanpietd~ as if aaid aqre~ue auns were ~itinally qiputat~d ~e be yaid u wc6 tise~ w7~os In ~ai
note or heran to t~e cooaxrp aotwitbwndins. aad t6e Mort~sgee sball be eotided tkereupou at tbereafur witbout aotioe o~ danaodr~
i~a- I
- satute wit at law oe ia~q
ui m enforre the d~ of t6e Mort~stee bereaoder et under said pnooi~aoq eote. Ia ebe nent of any deiauh I
ar breaeh on t6e part ot tbe~o~or Ua+euader or wWa ~aid p~o~ aoe~ tb~ ~~1 ~~~o ;
pa~ma?t of dl anms ~eeured bereb~ br aetiou at law or 6 wtt ioeq
ni to foroclo~e this ~ o~ ~
and oae aaios ot wit s4all mt ~bau or be a bar ~o ar wu+er o~ t4e Mt7 °00~Pir. a~ier o~ bot6. oooeurrenclr er ot6ernise.
6a~ce a6a11 6an od7 ~ W7~~ and atbfsetioa of s~id iadcbtedne~.~~ ri~ 1o ia~tute o: a~aiataio tbe ot6er. prorided said Mott- ~
14. T6at ia t6e r~eat t~t1~or~a8b~ ~6aq (1) coaseot to t6e appoiatma~t of a~oeinr. trwtee o~ Iiquidstor of atl or a w6aantisl
~~POo+'~ +~r ~(s) bs adluudicated • baokrnpt or iaol~eny ot $k a~ol r~ peeitlon fa baakrupte~r. or adrnit Io writin~ its
. ~t7 ~ P~7 ie~ debe~ r tbe~ beoax du~ or (3) mate s~eoeral aai~,nmeat fo~ ttie b~eac&t o~ e~edieon. or (4) 8k a
~ paitiao oe nuwa
seduns r~o~ani:atian oc uranRmmc wtt6 crediton. or t~ tske ad•aaa~e of so~ ia~ol~eoc~r law~ or (S) 6k ~n ao~wa sda~icaos the ma- ~
eeria! allegatioas af a pa;tioo Skd asain~t t6e Mo~or in aa~ bankruPap. reorsaoisaeion ot ~oheoep procadia~ oe sction shall be
takea br t6e Mo~tsa~or fae t6e purpae of effeaios aa~ of tbe fore~otn& o~ (7) an7 o~deq 1ad~oent o~ deeree ~6s11 be auered upon an
spptiestion of a eredieor or Morcp~or br a oourt of mmPetent jurisdierioa sppro~in~ a pe~idos ~atins appoiat~eat of • rad•er or trunee
of aU or a substantid part of tbe Mortp~s aaas aod ~ue6 order. iud~ or deaee sb~ll oootinue wata aad in effect for anf period of
t6trtp (30) oome~tire da~n. tLe Mott~asee mar dataee tbe aote 6ereb~ searced toet6wlt6 dne asd Pa7ab~n6ersupa~ tbe~~~
pal of and
tbe ineereu soerad on ebe aae aad ~11 aber sww 6ereb~ ~eeured s6aii beoome fortbwitr dne aod pa~abk a if aU of tbe ~aid ~wass of mone~
wcre od~inapr stipnlued to be pdd ao sneb da~; aod t6eeeupon the Mortp~a witAont aotiee or demand uap p~e s wie at Isw aAd/or
ia cquIry as tf t11 mooia ~ewrrd D~b~ lud muwe~ prJ~r to ib jmtit~tioo.
t3. Zbat tbe ~loct~ee or an~ peraoo antborhed b~ t~s Mortsasee sLsll, Lm ttie ri~t w eoter upou aod laapea t6e mo~t~~cd
praniaes u dl rwosabk eima.
li. T6st w~ sw or war wldci a?ay be baocd or ad.auoed b~ ~e 1So~s~ee a ~Le No~a~or u aar eime wt~in ces (io) yaes
from tbe date of t6is indeatnre. ~ wit6 fnt~t t~eraoa at t4 nte a~eed npoa ~t ttie t~me of wre6 kw or ~dr
eored witb aud bars tbe ssre peiorit~ a~ eLe oripsal iodebtedoea ud be wbleet os ali t6e tum~ ~ad ~r~oos of ~~all be equallr x-
um mo~tp~e: peo~id
~
p~aeipal~iooYOt~ir~i' a~tlly
~~eee~r~sd~ at aop time ~6a11 not esoeed au ~oaat equal ~o aae Londred +wd ~it~r per eent (fS0%)
i7. ~ if e~de+ed b~? Mon,pse~ ~be sai~ Herr~o~ wtU p~ .n~s ris N~e~ ~s Bne da~r .f acr aod r.ery oa~xwi.e
a wio~qwl ta oortxslhb ot tbe aonwt amo~roR ac~sq b pa~ aU ta~e~ ~ awew~en4 apiwt t`e p1d~~
~p
~
r~ort-
~ mooth y snm ~o be atimaad wtdr M 1~PSa •od eakatated eo be ~n mouat ooc 1a. e6u ttie mo~ee aE o~a
~ p~~ ~ for t6e prenio~a ~tar and i~ lartLet requireu b~ D~o~tp~ee to pq all jnwaoee prea~imaa ts isaooer sod fo~ a~ pro~tded
pa~~eent of ~ an~ a~a~seab.
1~. Thu ia tbe e~at etie lau wLict~ tDba~oet~a~e b ~i~ to ~eeoe~s i~ oade ~x~ eM ~E 8a~od~s eiti~a tbe esaKcuetioa
~f ~ew butldiap ~ t~e eoa~craetJoe ~ impeoremeaa aad/er sddjtio~s b bdldi~ tfs . if
e:prasl~ aQees to depo~it witb tbe Mortp~e or ib ded~oued ~yeot as ama~ut~ ooeey pwi ar
~~ffermee~ 6etwem~d~net
e~p
of c6e loao aad tbe total amousy as detcrmtned b7 t~e Mort~a~ rtd ~o taty eospiete aM ooeuruotio~ ia aooordaaa wit~ t6e plaa~
~ u~d ipedfiatjoos be~to~ere wbsiaed bp t6e Mort~o~ ~ad ~I~~bp tbe Hor~t~ee. 8aid aoro~wt oE mooe~ ~6a11 be P~+ioed M t5e
Mortp~ce ia i"Loaaa ia P~ooe~ Aaouol' Is tlie aame of tbe . aad t6e ame t6~I! be a~ed 6~ • t~e yto~ee b W7 tbe eab~
eAar~es and eiPdne* jne~rred fa ooanatJM wir~ aaid ooo~trnn~wo vrior es ~~~ot ebis loaa. It !s fa~tber aptied e6at L tiie r~eat
~aid ooastroetim b sot full~ ooopleud o0 0~ behre d~e due ~ued I~ tre LoanA~ o: L tre erent erac the nock w
a I
d eomerueeio~ ~
~ a p cea~s b s
f
~
o r
e f
n l t eomp
k
B
o
o a
a d a rc
i aweio~ s6a11 osndaoe t~ s perlod ~ t e o (!0) da or i! iobstaads! eoooanoas
P~rar sball aot be wde ie we~ eoo~tr~etiooy t6ea and i~ aq totk aralt t!e aid ~te woy PcindPal ~ iaterat. meadoacd ts taid
P~*~7 ~od ail oosia ~eaued ~all 6eeaee doe aad'apabk ~wit~ ee d~enafm ~t ebe aptioo at said btort;asee: aud L
t~e e~eat ot wei aaatla~ ~
r?~
ori~ opoa said oorcroeciou for •~i~d oE ~a (1~) da~s. K if ~a~Nsl ooo8nww p~o~roa a6a11 ooc be
made ie weM oowtructioq, a oraaiq t4 l~~G~tp~es ~q st ib optfou eoter i~eo asd upon the moe~Ra~cd Pr~a aad aapkee ~aid oar
~truetioa in wK6 masoer s~ it dee~ ad~bte ~6w~t ae~ tmrfennce fivo t~e tbe sajd Idortp~x ie~ d~t ~~i
a tLe Mo~~e tull pswa s~d aat6oriep eo m~ts suci eau~ ime asl upo~ aid Nortp~ed a e~er iao we6 osatnaa or ae~
as
na~emena as m~~ be neoa~ar~ a ooa~ple~s r~W cooKn~eeioe~ Rnd a r:peeA an7 ~ooia rewi to aid '2oati in Pnea~ A~osu~t" ~ad
ia addhbn aa1 saw oI ~ooef oeceaarf to eowpie~e aid amtnxdoa; aod a% and dl mooia apeoded b7 t~ No~eC ta oouaeaioe~
wftL sucb ~mplabo of ~oaKr~aion io e~oeess o~ die mwia i~ said '4.o~a~ ia Proce~ A~uat"' ~6ti1 bt aadad b t4 aid priaeipal debt aud
s6aii draw iuterwt ~t d~e raoe p~vt~ded 1a said Promtaoe~ oot~ aad ~6a!! be ~eeared br tLb mo~tp~e, aod ~6ap bt P~l~b1~ M 1~rtp~
oa e~a~sne. ~
: ~ e.~~ 87 ~az -
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