HomeMy WebLinkAbout1144 . ~ .
• . _ ~
~ i. Trat is tw ~.e~ ~E ~ wh bda~ tMtiwed a tee~iw ~ suc~y~ tM b~ mddea a~~? .e aq~ da d~~ ~
wc~ loreclorui+ ~uit ta t6~ aou~t l~~tas ju~diaio~ t?eceo! !o~ tM appoiatmeot of ~?y~ot dl ~nd d~ tM ao~ed ~eet~. ssd ~
of dl «a~ tno~oe~, ProEta. bw~a aad~ ~sveoua t6eceof. froa~ w4aoe~a ~ouea deri~ed; asd dereupoa c L 4~b~ ~zpres~l~r oonoanted
aod ~cced that ~e oourt shal1 tort?wJt? appotot meb nai~a wit? tM wual pwen aad duda ~E ~eeel~en L~ dk~ ca~ai ~d uid ap~ ;
poinnacat ~6a11 b~ m~de b~ tM aouK a a maaer oE Kcict ds?e ~o tLe bio~ and witlout nh~ce ~a tM adpwqr er inideqwq et e6t
~slw ef tb~ propaq~_ebr a~c~ed~o~ eo ~he alvenq or Iwol~eay~ af ort~a~ar er aq~ ~Mrpsr~? deEaadaat 1s wc? wia 'I1~ '
Mertsa~or bereb~r • seuV w~a ~t M ob~ea N tl~t appotanseat oE a reai~er w a~oca~id aed l~enb~ apra~Ur aoowpd that ax~ ?
. ~PPa~eot sbsll bt wds as sa admiacd equiq sad as s muc~ ab~olWte ct~bc ~oo tiis l6oc~ aod c6~t e6s ~ams oaJ b~ donr ~+itsow ;
~ ~o tbs 11loit~ ~ ;
6. T6at it W prooeedta~ ~Id be la~deut~d ajsiwt t6~ propseqr aonred b~ tti4 a4ore~ase apo~ oe?er lien or daim w6etlur ~
wpe~ior_ o~~uotor ~o tM lies ot d~ ttie Morts~ee map ~t it~ opdon Immedistet~r upou ia~titutioo~wck wit oe dueio~ t6t peod• ;
~ t ~declsce t6a matpte aod~ebcedaa~ ~ured bccib~ dus sod pyabls lortl~wit? aod mUr u Ib optioa pnceed ~o f~eclo~t ~
7. 1b pa,~r all aud d ttie oo~d1 tcar etiar~a ta1 exPea~ oE enrl Idad. tsdudios t?t oat oE an abtr~t of Btk to ssid laad~ ~
touad to b~ oonratient or ts~p~ [n ooonec8oa wlt? aqp ~uit tor tbt focecbtwt of ti~mo~ aed abs intludins, wbetLer tAe i
b abupted to ~a:.k a~ 6 tM ~ S
p~? ~ ao~ ra~oaable aaany. fca iaeuned ~e a~peaded u wy dse ~ Moretasee becswt of tM fdlure t~
~PV ~rith aod sbids b~ all or of t6s co~eaaonr eoadtdoa sod ~ipulatfo~r o! satd P~~I~7 ~4 ~
mort~e. ia foebelowre of t6is morq~ tod ia oolle~o~ tLe amouat ~eeored bcrebr wid~ or wlt6ont Mpl~~cooe~iap. ~nd to ceim- i
buise the for r~rehr pyrcnent e or iaeurced t~ aq~r weL purpote wid~ intecat fiao dab ~ s~ery ppment ~t
t4s nts o! ~
dsk Pa a~ P~* anoum; we~ parmest. and obli`ujoo~, wf~i iaterat c6ereo. a a~oraatd, ~6a1! be ~ecured br 1~a~ ~en+o~ ~
t. 'il~ ~tbe buildtt~ or bai~ now ar bereaHer on wid t~sd iaured ~pia~t IoM or danuse bjr tit~ eatmded oo~en`e iwd !
otber puilti iocl wu rlsk imqnnce i araitable. ia a~am not las than clieir foir Ia~ucaWe ~due at t6e aat aad apeMe of tba Mort- '
=a~er ia a oompany or oanpada appro~cd pr ttie Mon~a~ tLe policy ~ polieta ~o be held bI tbe Mor~ee, and aie6 polie~r or politja of ~
imu~anee ~6a1[ lure affized the~eto a Saadud New York M Cl~ makins s!1 lou or loaa w~der sot~~~ or polkia parable to ~
t6e Moct~a~ce as ib interat ma~ appeu. ~ad ~o deli~a said~!poi r or ~~t
eia to d~e Mortpace w6m hwed w~t6 the teaipt~ ~ tbepa~-
meot of t6e premium tberefor. aud in t6e e~ent an~ su~s of po rbc+oo~a p+~~ uaaer sueb poliey or poliela~ ttie I~ort~a~ee a6alt have ~
' t6e o~o~ a r~in and ~pp~r tLs same oa aooo~ of t~ ~~k~aaa ~een~cd y o~ t~ perwit t~e ~dortp~s m ~eare and we iy or aq~?
put t6esmf~ ioe ot6er purpaes, wictiout t6c~eb~ waiHaz or impsirint W cqni4. 4ea or d mder or b~ dmu ot t~is awct~e sad
c~e ~io~s~a if i~ dem. nao~a~ aur p~aa and p~~ !ar we4 ,m oe sny paK wi~hout toai~~ ~?at~ or a~f~o~ ~
psee'sopaoo ~o toralae for bread~ o! t~s oo~eaany ~ ao7 P~ or anp rig~ or uades tbis c~ortta~, snd e~cr~r ~ncb Psy- ~
me~ shall bea~ inte~rt fivm date thercof ~mdl paid at t4e rate of dg~ Per caK (i'K) pu auamq, ~d all we4 p~ments wIt~ intete~t a
aforaaid ,ball be .avrcd b the uea Ler~of. Ia d~e e~mc ao7r lon os dama`e i~ saHered l~octtyoe ~6au ~odh of we6 laa or
daaage whbin fo~-ei66t ~4=) honn aha ere Lappeotn` t4enof; t6~ fdlnre en ~t~e snci? eaia a6al1 oomdtace a dehu snd ctie Mo~a.
~ce s6ait 6ave tbe ri~s 6ereFa a~m !ot a1! ~faulb. •
9. To puNy oommtt or wffu oo wnte aad to matntda tbe ia~pnneom~s st ~11 timn t~ a sate of ~ood repair aal ooaditfoo; aod
a do ory~ t to be doo~ to said pcemise~ oot6inj thu will aica oe e6aore t4 use a~d eha~aetes ot ~aid proper'ty or in any wa~ Impate e~ '
' waka? t5e ieeudqr ~ nid mo~a`e. Ia we of t6e nE~wl~ nKlat oe iwbil~r of d~e ~losty~or to repair and ~in aldp~opertp. t6e
b~l~~ berreo~ ao~d ~ u~e
r~a~e oE eis6t ger ~(tlij
per~ioam~• ad~~moe mooia in tbu be6a1~ whkD wms shall be seeured
10. To deli~a t6e ab~tr~ct ot ab~tneb a~ dtk ao~aia tre~ propeeqr ~o Mort~te or i4 dadpatcd a~mt, w6k? shsll u '
~ua~wta~ f tit~l~ aU life of tais moctp~ rematu tn tl~e paNen~ ef tbe ~Ioetsasee aad io e~eot oE t6e totalorure of t6i~ more~e or at~er
ri~ dde and ioterat of t6e Mo~a~ur ia aod to sep w~L ab~enet os abtt~ads ot titk ~dW pa~ m t6e puec6aser oc
e
T at
11. Trat a~ wai•er ofao~r eonoant lada oe ts tie obtipdoo a~amed ra+eb~ ~sU ~t aq tL~s iereafter be lcld te be a wd~cr ~f
say ef tLe otl~es term~ 6aeof or aE t6e aote ~ea~red Lenbp.
L4. Tbat is order ee aooderate ttie satnrit~ of tLe iod~ reabf ~ecu~ed bacaws ot ths failore ot tLe M~o~ eo PsT
st~sl~ Uabiliq. obli~atioo or ~raeoe npoa aid peoperqr a~ beeeia peo~idcd. k~Lalt ~ot be oeoaarr aot iequi~tte tist tbe INort~et
wr ~
31. T6at ~f tre ~p~or stisll hil. nsslea or sef~w for a Pe+iod of tLi+h? p0) dar ~ P~nPN7 a py? tbe aoiono~s ee-
quired to be paid by etie nocr 6ereby ~eenred o~ ebs iaterat thecdn sped8ed or a~ of tbt ~mor~aaaer rereia rsfesred to oe Ikreb~r ~e-
etieed~ or et~erwi~e dn17. ~ufl~? aad Prsm~ti7 a Pafo~'m. ~e~e. oo~apt~r whti asd aWde b1 pd~, esetp or aoy ef eLe oovenaoa. oood,dao~
w tdpulsnoos of t6i~ moetp~ ttisp note 6ereby ~ecured aaa/or the aaMtructios loan ~p~eement. it ul?. ~4 and ia dtLer or is
ae~ sf sue6 e~enb, wttbout oaies or d~ttie said a~epoe sn~ weadoned i~ aW Pcomieoq ~otG IeM Pre~rlow Pa~ if a~l'. aad
aor ttnd ~11 a~ rsentioatd berda or seewsd bcreb~ iball bec'ose due aod pa~able fortlwtt~ • or theceafter u the ooot~unios ot the -
Morep~ee as fnilr and aompladp ar i~ said s~rc~ate sun~ Rae ~sisinalir ~tipulaad to be pald at suc6 time, an~t6ing in sat~ju~ory :
aae or 4erdo to tbe oontnr~ aaw~andia~ aad cbe Mortpsee aial! be eotitled tienupou o~ tbaeafar wit~out aotice o~ demaad to in-
stit~e wit at law or ineq,utqr to enioree t6e n~6b of t6e Moet~e 6aemder or m~der ~aid promt~ory? aota In t4e e~mt of an~ defanh ~
~t breac6 oa tLe part of tl?s Mort~o~ beremder or ~mde~ said pnoeoiaor~r notq t~e ~Mort~s~ee s6a11 4a~e tbe ooatinuto~ optioa to eaforee
~n ~~r
pa~ment of al! s~nos aoeured h~r b~ aetioa ~t law or br wit io to to~eelefe t6i~ ~e. dtl~er or both, ooocurcmtl~ oc ocAerwi~
aod oae aaiaa or wit s6s11 aot abaee or be ~ bu to or wai~er of tbe M-i~~cc's sisLt ~o imtitute o: maiataia tie otbrr. prorided said Moirt~ .
~ce s6a11 la~e ooU oae pymeut and saishaion of aid tadebtedna~
14. T6at In tlie e~est ttiat Na~a~or shaq eomeat te t4 appoiotaeat rf s reod~a, tcwtee or liquiduo~ of dl or a sub~antid
pa o~ 1+lostsa~o~ a~ a~ (Z) be ad'~~diea~ a baekropt ot i~ol~ er $k s~oi pe~ition b baetrop~e~r or ~dmit jn wridns Id
inaww, d p~, Us ae~... tMS beoooe dn~ K e=~ msks .~eo~ai ~i~e~t !oe ei. o~ «~di~o~., w c+~ ~k . pea~on er a~wa
~ed3as r~o~antsattoo or uraasrmeat with eeedimq, oe eo t~k~e adraotasc of aaT [trelveeep Isw. or (S) Sk an anrwer ulmimog the ma-
arfsl alkpe~oos o~ a paitioa Sted ssaia~t cbe More`a~x ia aar bantruPeel~ nor~adsuioo or inaheae~ piaceedin` or (i) aeclon s6alt be
aten b~ tbe M«tsamor !or tbc wirpae ef effeaias aqr of t6e ton~oinL ar (7) ao~ order. jud~nmt u* deeree s6alt be entered upon an
sppficatioa af a uediooc or Mor~~or b~ a onurt of oomPe~e~~oridictioo aPP~~ • P~~ ~i aPP~aweac of a rad~er a tnutee '
of all ot a w6~antid ~
piet of t6e Mortp~oe's aset~ aad ~ue6 a. jud~ or decree t~al1 eoe~sue waa ~nd in effeet tor sn~ period of
tWrq (76) oomee~uin da,p~ tbe Mo~tp~ce.aar dalare tLe note 6ere~ ~red fotttiwitL dne aod paJab~wbereuapoa tbe~
tf~e Luere~t socrued on tiu aae ~nd dl od~er semes 6ere6~ secured r6s1~6eoooe foet6wid~ dne aod pars~k as tf alt of the saFd wm~~ef mooe~
wcre oriQoalt stipWaeed b be paid os a~ dap; and t5etenpoo tie Moctp~ee witboot noeiae et detaand ~oay pro~ecute a soit u!aw snd/oc
ia sqniry a i~ aU mooia seeund hereb~ Lad ma~red ptior to ~b i~itvtioo.
IS. 'Itiat t4 blort~ssee or an~ penos a~Cised 67 tLe Mo~tp~ee ~q ~art ttie d~t to entu npon and iatpeet d~e ~tp~cd
Premisa st all rea~onable 8~ea
1i. Tbat ~uo~ sma or wm~ wi~ ma~ 6e Iwned ot adtaaad b~ eit 1~a~ee b ttie Nort~yos at aal tlme wltNn tm (l0) Taw
f~o~m tbe dm of t~is Indeuture, ~ witl~ iaterat tLereao at t6e tate qrted epm tt ehe time o~ w~ek lo~n ot adr~soe, shall be eqwllr ~
eared vdt6 aod 6sne t6e same prio~iq? a~ the ocisiwl indebtednea ~ad be wbj~ eo di t6e tees~ aod~~~~~ oE ~ moc~i~
~)ed.
e~at t6e a~re~ste ~mo~ot of priodpal oe~ndias u aar tfine ~aU Aot s~oeed ~s ~mamt ~qwt to a~e imdred and ef
t~e prioeiw~ amo~t oe~siusll~r ~eau~d bersh.
17. 1'Lay if reqnir~d b~r No~ tLe wid Ho~t~ot wdp pq nw etie ~ ea tl~s R~nt dq of ac` aad e.ee~ eomee~re
ao~o~tb. a wm~qn al m ase~wd(ei~ of asoual savoa~ oeoassq M prp all duoe~ asd a~aw~e~e~ a~ainrt ttis aid awrtsajed premi~ar isid
moocblr iw to~o be aaiassted so{elp b~ 1~loeep~ee aod aknlated b be ~o roooot aot IeM th~ tie amoimt oE t~a ~re~d aaaimt sdd ao~
~ pre~a tor tM ~re~loa~ rear a~d i fnrt6a eeqult~d by 1~loatp~ee to pap alt imasaooe peem{mn fo toaoac~ and ~t ar pio~idea
for ttie pquieat of tua an~ areNOmt~.
IR Trat L ew e~e~t t~s ion wldd~ eY~a~p~ b te ~ec~ tr m~dt fe~ 1~e ~ liesnet~ dtier tbe oamteoeaon
~f aew enildi~p or t?e oeo~tr~xion ~f I~pm~re~ ~nd/or ~iddi~do~u q nd~tioE bailataP. tM! 1~. i~ n~ced b~ ttis 16oetp~
uPreslr apas ~o depo~it wk~ tbe lto~a o~ ta deai~nued s~eot ae asoaat of sooe~r cqwl M tre Hs+r~ee betw~eeo tis set ~
ef tbe b.a ud tfe ~ota! aoiamR dearmtsed bi die Moet~s~ee. a full~ oao~te aid eow~creato~ L~oooe~da.a wit6 e5e plae~
aad spaificatiow 4eretofo~e submimd b~ tbe Mort~or ~d a b~ ttie Lsatp~ee. Said am~aat ~ mooe~ ~atl 6e ptaad by die
1~loct~ases I~ •'Loaw ia P~ooas Aooouoe" ~n t4 aaate uf t6e ~ aod tie a~e ~Lall bt o~ed t~c
e6ar~a aod apea~a~ ~Otnrred io oeOOteBos wit~ qld eaoscrnwMwm ~ior M f~~b~Of t~is 10a~. ' It L~ t~6a~
aiQ ooouroaion is oot futl~ oaaptaed oe ar before t~e due ~aad is tbe Loan or L t5e~ t6at ttis warlc w
a i d a o o
~ a o a
i o~ i?
s
A eeut D e E
o a f
u
l l oo.p
k t
J o e a
s d w c
i eaauio4 skall ooatiaoe ~ s period 1es (10) K if wbstaodal ooaBaoar
peosnaa ~hall aot be made b snci ao~tr~iaa. tLea aud ia apr weL ev~at t`e nid a~rep~e sm~, P~~+PV~ iaees~ a~atiosed te a~id
teomisoe~ note. sad aU mo~tes ~eamed ~r sball beooa~e doe and ls~t?wh! or ~ue~e~ ~t tbe optioa oE ssid
d~e evmt of wc~ ee~ado~ eE wart ¦ aid eomer~ctloe to~ s ~ of~tes (i~) da~a, ot if sa~aotial eooeinw4s pnses~~ll eot 6t
oade io sueb eou~ruetioq, a afireai~tie Mortsa~ee w~ at ib eptba wter Leo ~sd epos t~e p~mi~p aod c+awpleoe said oon-
troeBos ta mmer r it dceas ~d~abk witLoat aq iacerfeceoes fio~ t6e l~rt~s~or: t6e a~d
a tbs e~qt+pe ~nn Pswu .na .utmrtt~ w make .oe~ " d ~7 d•ins .sd swnei.e
eatq Iwu ~ad o~oe a~ ~oet~a~ed es eaca taeo wei o~atraat e~ tr~
r~n~ w ma~ be oeoaary b campleee said oeiat~i~a~ ~od M e~end an~ weies nesddss~id~ "I4w b P~soeM Aoownt" wd
ts ~dditioa ~a~ som~ o~ aoae~ aeoasary ~o oao~las ~aid eoa~oo; aod a~ ad ~11 mode~ esP~ode/ bp t4 Irtortp~ee b ooweetloe
wftti wcr e~pktioa ot ooo~uauioo is es~a~ of eie moaip ia aid '4.aa~ b' Ptee~s Acoo~M" ial! b~ adad M f~e ~aid ptl~eipal debt asd
~bsU draw inttrat at s6c rut pto~ided la ~aW pe~emi~wr~ aote, aad ~hall be tecnred b~ t6b oasqa~y ua ~it be ~qabie ?7? ttie N~ti~ae
e* eesab. .
. ~
s~r
_