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. s. T?at t~ dw s~rs~e ~f • wte aies t~ieuMd a i«.tloN ti1~ oorcpp, tb 1~t vafi bs e~odcM~d es s~ ~t u,~r eio.
we~ fonebwn wic a eAe ~
do~ j~ t?~reqt~ °Ed~e~i~ed
~ t~~e i~poa It h~y~pra~l~~soe~
~d
~E dl caoe~, inooa~ar prottb~ _
asd atceed t?u tit oourt ~aa11 ~ itr appotat ~u~
iasi~et wltr tM wual po~ ud duda ~E erodrsn.ls liht caa= sed aid
t
poiatoKOC ~sll b~ rwde br tM ooun a s a~ece~ ot ~aia eidt es tM ~d wit~eot reh~a w tM adeqwq er Is~deqw4 ~
•alue ef t?~ p~opat~ ?eteb aa~oc cs tre wirenq or ia~olrea~! of or se~ otlet p~ty dsfeadaot ~s sucl wtt. Tbt
Mort~a~o~ ?sceb~r ~pedBcs~r w ra ridt N objeet ~s t?e appotuaseat oE a ~a ~ atora~iA aod \enb~? espra~lr ooo~eab trat ~uc1
appoiaaaeat ahall be rosds a~ so sdmlaed eaWq ~od aa ~ muter ot abwl~ rt~Yt q ds Moct~a~w aud tlat tM woe ay? be don~ wl~bo~t
aot~ce ~o ttie Mort~a~or.
Z1at It w~ proceedtap ~LovW b~ i~dtuted s,~aio~t de ProP~4 co~erea ?r ttiis ~o~s~e ~Pos ot~ lies ac clai~ wret6et
w
~upaios os uoior a ti~ liea of ehi~ tN Mo~tsa~ee aw ac ia opcioa iiamediaal~ upoa toKicudaa wcr wie or d~utus tM peod-
tt
e~r ~e dalsce tbb mon~ and
t~e~tednea ~aured 6eab~ dus sal pq~We tattwltL aod m+g? a iu optios pnoeed w foreclat
t6i~ aoort~ase.
7. To pay all aod lu t?e ao~a1 teer. er4r~e~ +u~d acP~a~a of ~M? kiod. i~elndlnt tbe ao~t ot ao ab~tr~et of titM ts ~aid laad~
tawd to bs ooa~eateut o~ e~teat iu oonneetbn wltb. sq~ wit fer tbt toreciaua of tW~ aad aho iac~udia~, w6etDer t~ l~lo~ga~a
k obUpced to wae oc aoy rauoaable aeto~e~'r fas [neuned er e:peoded u W dmt b~ t~t Mort~a eeawe of tiit tdture of t6s ~
~p~e~Pb witr and abide b~ aq or-_aax of ttie ooreaaaa. coodi8oa~ aed M1~ulatioti o! aid traetrorp oa~ ee tbis
no~a~y ~a the ~orcClauK oE t~& sad io oo~s~ t~e a~ou~ ~~7 ~ K wit~out k~1N~oo~diop, ~od te reit~i- ~
buae ihe for evecr p+~meat
m~e ot t~euned foe aar wer wh? iata~at ~ dats of eveq? Papoent u t,t ate ~f
e~t pe~ cent s) pu aosum; w~ pa~me~ ,~od obu~ ..tsr ~ t~enoa M s~aa~, ~dl be ~eeaeed ?y ere tiee ?aeof.
Z1o t~t buildtas er bd aow or ~erafter ao aJd laaa Iiw~ IoM or d~aap by 8re. srtmded oo~?en~e a~i
~ ot?er PeriB. ipc~ wu rbt in~uraoa~a~dlabie, ia a~um'oot ka ttian tbds ~~rable ~slw at t`e oat and ~peme o~ t~e Morr-
~a~r ia a oaapsqp or oompaoia appro~ed~ ~y tbt INort~a~eq, t6e polk7 0~ poljda ~ bs ?dd 6~r t6e and wcr polic~ or policia ot
iasurance s6s11 6a~e a(fiud trcnto a Saadud New Yo~ic M C!awe, m~kio~ all IoM ot loaa ~ polk~r o~ polkia pa7able »
cbe ~lo~asee as Ia tacecac m~ apPw. sad a deli•er ~aid~ or p Uo da ~o ~e wtiea ba~ed wits l~c r~cdpa he tDepa~-
ment of ttie pranium tberefor; aad ia t6e e~eot sqr sws of bcaooa pa~aWe wider~~polk! or polida, t?e Moct~atee ~ball 5are
tM optio~ ~o eeoein ud appl~ tLe s~me oo aoo~ouot of ebe jad~i~aew seeurcd I~aeby or eo pe~te tre ~oc~a~ to rocd~e and we jy or aa7
psrt thcreof. ior ather purpaes, witbut erereb~ wai~ias a~ i~ rtas W equi4. Uea or nndec or by ~rirtue of tWs asd
tbe Mat~a~ee if It deeo~ aaa~arya~a~ pla~a aod pq? foc wcl~ ~ur oe sqr Part wlt~out laia` wdrios o~ s~~~ocN
~atee's optjos ~o focee{ae ~ breac~ of t~is omnnaoy oe aql? ~art ~ ot' aq7 dd~t o~ u~det t1i~ vort~, and e~e~r sae~ rq-
~ oeot s6a11 bear intcrat f~ date t6erco~ until psid at t1e nte of d~t pa aa~t (t%~~) ~e .oauoy a.d su sue~ p~y~senb wtd~ ioeere~c
aforaaid abalt be ~eeured b the lien ~ereof. Ia t`e e~ea m7 fo» or dama~s L~fa~ MoR~a~qs 's~sp aod~j Moet~a~e of wcr loM o~
dama~e wlchin to~t~-d~t ~4s) boun dter tre Lap~eaio~ thaeof; tLe ~aitws b~S~e wd~ aoeke sral coo~Ftu~te a defa aod t?e l~ortsa-
~ce ~hall 6a~e tre d~La 6erda p~en for aU deEsulb. ~s
9. To pami4 aoordt er w~Her ao wa~te aod ~o aaieain tM impro~aoeah:at all 8oes i~ s~ate af ~ood cepair aad ooodidoa: ssa
a ds or psndt a be doo~ to sa~d p~aai~es ooc6ins t\at wi11 aher or c6anse tre ~se and etiarkter o~ aW yropatp or te a~~ wq impatr ~t
weaten tbe ~ee~~iqr of saidmort~e. la we aE ere ref~wl, ae~lea o~ inaWliq a~ ttie Noctp~or eo eepatr ~ maiatda atd tM
bortsa~cs. mar. u ia opEioo. ke a~o6 repain or eau~e eb~ ~ame to be aude ~od ad~aaoe sod is trat be6a1 w~ w~ms s6a i be ~ea~sed ~
br ebe um tiaeof sad bear inasac ac d~e raea o~ dtk Pec ceac (t%) per aoawe.
10. To dell~e~ t6e s6~traet or abtraeb o! tide aa?aio~ tbsw~t~a sed propett~ ~o or ta dai~t~d a~or. sball at
all tima, duriaa t!e life of t6is mort~~l~. remain in ttie po~wa a[ tle Moetsa~ce aad io e~r~tbe tocedosure of ttii~ ooct~ase ar at6er
tramfer of titk. ali d~6t. titk and interat ~ tk Monsa~or td ~nd to an~ axi ab~traet or a6~traeb o~ tltls ~b~ll psu to ttie Wrdwss er
~rantee.
11. 'Ibat os wai~e~ ofa~r co~reasnt ~ecein or ia tk oblisatka sewre~ beced~ ~aq at ay? tioe tieraf~a b~ rdd es be a ad~a d _
aoy of tss ot6e~ te~s 6creot or of t6e aote ~ iaebl-
1Z. 'I1at is orda es aoeelerau eLe sato~ of tre Lideb~edaps Le~ebT ~eeuesd beawe of tbs ~dlurc ef t~e ~ pq a~r tas
aNa~men~ liabjlitr. obliptioa o~ enaaobrauce npoa ~ popart~ a~ ~crdn ~tidea. lt ~ap ~ot bs a~oe~ary oot rcqu~~e~it tre Mart~t~es
.e~n snc ~r ~ ;
1s. T6u if cbe ~6aU fat~ oeslea or rcfre i~ s perbd ef dd*4 If0) daY+ frU~? a4d Mosptl7 a fa,p cbs adoimu e~
~ qdccd to be paid bp tb~~re~? aenrtd ot t~e i~tera~t tLereia speei~ied er ao~ ~ t4 aw af aoeer ~ecde rehrnd to or ~eeeb N-
wced. or ot4erwise dWl. ~7 ~ P~~4 ~ Pa~~. coopl~ witr ana abide 5 eadi. s~erf or aq~r af d~e osvmanb~ ~
or ~tipulatioos of tW~ mat~a~ ttie promu~ory aate 6eceb7 seennd aod/or rie ooatruedea ~~raseat. i~ anl?. t~O. aad in dt6er ot i~
my of suc6 evenbf, witLout notks oc de~aud. t6e sajd mm meotioned ia sa~ praoiMOr~ mte. Iw Pm~ P~7~*. if ~7. ~
aar aad dl sums meatloned herdn os ~eeutcd bereb~ all t~eooise doe ssd pajabk fatrwUti or tra+cafta u tre oo~onins ot ttie
Moct~aQee as fupy and oanpktd~ ar if ~aid aQre~ace wuM wrre ~ri[toallr stI eo be p~W ~t wc1~~~ ~nrtriss ~n ~rnmiroq
es
sote or herein to t6e ooatrar~ aotwl ' snd the Dsort~ee ~Lall be ~t?ereupon os t~e~esha wItiont aotiee o~ demaod ~o is-
~dtnte wit u law or in q~~o enforoe ttie of tbe Mottgasee rereunder or noda ssia pt+oo~ mte. Is t~e eneot ef as~ dcfank
or breach on t6e put of~ ~o~t~Dor or P~7? ~~~iatl 6s~e tre cootia~ option to eaforee
~s
paymmt of aD swm ~ecured 6ereby by aaiaa at law or b~? adt is ts f~eeb~e tiia seKp~ dder or botk coecorra~cb oe eti~erwisy -
aud oae setioo ~ wit ~6ali aoc abate or be a bu to or wa~~er ef tLe~i~ce'~ ri~t M taqitute or maiaaia t~e ot?er. pro~ided said Nat-
p~ee s6a11 ba~e oalr ooe parmmt and s~faet~on ot a[d isdebttdea~.
14. ZLat jn tLe enot trat Mo r s6s11 (1) oomeot ~u t4 appoi~t ~f a reai~rer~ tnrtce er liquidalx of all ~ a a~aot~l
~a~t o~ Mortta~a'~ s~ ot (Z) be ~d~kated a bsokeopt or ied~eoti or Sk a voi ~itioa L b~okcop~ep or admit in wddos ie~
ioabiGq eo pa~ its debts a~ t~ beoome ~u~ or (3) wake a Raeral a~msnt tot trs b~ et eredieocs. ot (4) ~fe a paieios or aorwa
s~d3ns reor~auisation or arran~e~ot witL crediton. or ~o take ad~soass oE ~ ieMheae~? bw. o~ (S) Sk ao ao~wer adovieds~ cre sa-
d3
arial alle~atioas of s petition filed a~at~t t6e Mo~a~oc L an7 b~~P~7. ~P~saBo~ er imolseoe~? Pe~ooadtnp. ar actioa ~~aU tit
atw by ~Le Mort~s~or for t6e parpou o~ e~fec8ns aa~ o[ ~!e fareDoto` or ao~ e~der. jodaoeu o~ deaec sw1 be en~ere~ o~on aa
application o~ a ereditor or Matga~or b~ a oourt of caopets~t jwisdicdoo app~mrl~ a petitioa ~al~iai atpotoaaeat of • ceoa~er or trwtee
of afl or a subuaotial part a~ t6e Mort~a~r'~ a~ea and sucb order. jud~ot or decree ~ap oondooe owta snd in eHat fos ae~ period aE
ab ur poa
tb[rt7 (30) ooinee~ti~e da~ tbe Mortgssee raq daiace tbe oote 6ereb7 ~ecured foeekwit~ dne and p~ ab~wlu~en t~e ~ioapal of sad
tbe iatenst aoerued an t6e oote and sli ottier smr ~r ~aur~d sLil beoome io~wtt? doe aad pa~k a if all of tLe uid swa~ of moae~
' were ori`inall~ stipulated ~s be p~id ao ~oe6 dsY; aod tiereupon t6e ldoc~ wttbut ~otia or demand w~ proiecnte s wit a Isw ~ad/er
z in equitr as if all monia ~ecored 6errbr ~sd matared pe~ ~o tu Iadtndoo.
1S. lbat ttie Moetta~ee or aar perw~ autLodsed bq fre Mortp~es ~sll rsra t~e rt~t Io eater npon and iaspeet tre s~tp~ed
G p~emi~a at all ceasooabk tiroa.
; 16. That aar sum or sums w6k6 sa~ be lo.oed or ad.saoed M~e Moetp~ee a etie Hoeess~or a as~ cjse wieri. as (io) 7an
~t~om tbe date of tbis iadentuce, w~ wit6 iataat ~ ~t tLe rate aQeed opoe st tM time af ~ lo~o ~ ad~a~oe. ~aU be
~ eured wit6 and 6a~e t1K ~ame priorit~ a~ tLe ori~osi indebtednas and be wb~eot w sp tLe term~ aodp~o~io~ ~ dds soc~e: d~
~ that ttie ~e amouot of P~+PV ~i at a~q? tise ~hall not aceed aa mouot t~qwl M aoe la~dred aod 9tq pe~ oent (ISO'Xr) ~f
t ebe pri«ipal smonoe ori~iaaly ~aured Lereby
~ 1Z Tba~ it req~dred M kle~tp~e~ ebe ni1 ldorti~x wiil tq u~~o e~e M tre Bnt d~r ef aei ~od c?eq coa~e~ti~re
r a aus~qual to onc-twclftb ef tre amnd mo~mt neQa~sr~ 1s pq aU -ts~ aod ara~oew spia~t t~e aid mortga~ed pr~ ~
moot6l~ sam to be atimated solcl~ b~ and akulmd eo be aa asam! aot IeN ttiw tit amo~mt of tsus auMed a~aiwt nid mort
t P~~~ P~ 7~. reqoired b~ Mortpsee to pq alt innuaoa pe~emimr i~ wooa aad f«s a~ peoitded
` 6erda for tbe paymeat oft aus sod ase~meob. . '
` 1=. ~at in t~e e~mt ttie ioao wbicti tU~ wo~etap i~~s~ ~eeue~s tr ~ade ~ee 1!e rE Ssaadts detiec tM ~eartr~
~ iE ~r~r bYildt~P or tM aoa~n~tlos ot im'~v?wus aea/or ts ~~ailai~p? ~Lg 1~ it ~h tM 1~e~,
~p~aatr a~a a aepo.[E~ wfeY s~C 1~oe~es K la d s~s ~4 .ooaoc .o.ef pwl »~e ft~er.ea ~e ae~ p~
of t6e loao and the ~oal amouot~ as decamiosd M eLep~~~~a~e. M tolb as~IMe aia areroeelos b aoardaaoe wit~ tie pla~
g . aad ~paifieatioo~ ~fore wbm~aed b~ t4 No~ot asd b~ t~e ~r~e. SdA amsaet of sose~ iall 6e pl~oed b~ die
ldort~ee io a"Losos ia ProceM Aooowt" is t4 naoe aE tit . and tM Nse ~Il b~ w~ b~ t~e 1~o~ee to pa~ tie eow~
e6ar~a and acpea~a ineurred in ooon~etioo witi~ sd~i aa~eroewa prior M`k~~oE ~ lo~o. It L~t1Kr ~~eed ttiat i~ tLs e?e~t
~ uid caatruction is ~ot fnUp tamPkte+d o0 or bdoe~e t~s d~te ~t~ud t~ tw LoaaA~seoe~ or in etie areac ~ac e~e wort e~
~ aid ooos~roaion rhdl aa:e before fuU eam~kdoa ~sd ~ tar~tioo stisll ~oo~dnw for a period o~ as (10) o~-if sn6~tsodal oeseioo~a~
pro~ea shall not be made in ~uei oa~struetwo~ taea aod ia snat t~e Mid ~ ws~ PdooiPal~ I~tera~t. mendosed jn stid
~ P~~7 ~~d all wonia ~ecurcd renb~ sLsU beoome ~ue and payabk foetlwitti or tiersafte~ at tre optioo ef aid aod L
~ t6s e~eat of wcL oatatioo o~ work upos nid ooo~tcuaioa ~ot a~sebd oE ees (!0) daM or !f w~w~ai coot~nno~r' pe~e~~~il~ oot be
~ made ia ~ucti eoo~tn~teu0. a aioraatd, t6e n~,~ at ib optioe eotcr into and upo~ t~e y pnoiia aad oomplete ~aid ooo-
~ ~auedaa ia wcb maooer r h deeaa sd~bab~i~i~wi~t m~ i~oterfere~es frov t~e Me~tp~: eM a d 1 o~~qa~o~ ~rbf d~ a~d ~tto~
~ ~o tDe Mortp~ee luil power aad auc6orih? w make socti ea~ ims aod opoo taid sat~ w eata ia~o aer eoatr~ts ee ae~
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~ - . ~o ~ ~ g5 F~c~528
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