HomeMy WebLinkAbout0223 .....4. ~ ' ` ' r.~ .ws~' • ~ . ~
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'ltiae 1~ t~t e.e~t ~t a ~dt `da~ toaieaeed w fbnelw t~4 oattp~r, t4 fl~tp~s~ ~Il N~titbd a s~r ~t .yr dr dw~
wd~ to~eclowre wte M tM aowt I~~io~ juri+dktio~ f for t?e .ppoiataKac of • reeei~e~ ~E sll aod~~
lu t?e oo~ prpeey. a~d
~t dl ~a. ~aow~eti~~ M~uu ~ad ceveaua t4en~f~roae ~r6saoe~er ~ouroe deri~ed= ~ed t~er~pM 7t V Uereby ez~e+ealy rs~eaapte~
aed a~rssd tiat tb~ cou- rt ~Lall fort?wltr ~ppalot ~ucb reai~er wit? t4t ?aual powses ~nd ~utte~ ~ ~eeNve~s. ia liks ca~a; ~ed ~aid y-
Poiatrse~t ~Asli be auds er cUe aourt a~ auaer of ~~ict ~?t ~o t6e Martsasee, a~ without ~eEenaa q tb ~dsqu~c~r K toadcqwe~r o~ eh~
•atut eE tM tropertf leri or o~ tQs ~ol~eoey or lwoheaqr ef t?e ldwt~er ot ~q~r at?ee pae~? dcfcndaat ~s arc? ~uiL Tst
MoKp~or f~e~ebr apeuf~r wa~va d~?e M ob~ea » cle ~ppoiameae oE ~ noa~er a[oraaid a~d b~eer ~pcp.~r ooo~d ~e.~
a~poi~ ~
Il~~
ds.a as ada~ittcd equiq and a~ a matter of ~batute d~t to tbe ~oe~ee aad tbat tb~ same na~r be done wltbow
i. 11u iE aq7 Arocecdinp ~6ould b~ iwdtuttd ~aia~t t1t p~operq ao~t~d by t6i~ mo~p~s upoe an~r ot6sr Itea or c1ai4 w6a?ee
~upedor K juaioc eo tAe lie~ of tlw ~ tse Mat~a~es mal? u ib optioa iareedlatel~ upou tn~titutios of suc? suit or durtos tie ~ead-
~ tDereoE derlare ehL aoortp~e and tbe ebtedna~ ~etund ?ere?j ~ue ~od pyraW~ iott~witY asd mqr at ia optiou pt~oteed ~s toe~eeias
~Wt~
7. 1~s Wy d1 .od sia~ulu t~e co~q har eW4Ka aed aPea~ aE r~a~? kiad. indndi~ t?s ceK ot an a6~raa o! tids a~aid tani
tound to be oos~eaieot or e:pedieat ia aoasecdoa witi.sq~t suit Eor tbe foralowce of tW ~and sL~ loclndiar. wyet?er t6e Mort~a~a
is oblip~cd ~o pa wse or eot~ ~ea~ooa?k na~oeyy 4ea ineurrsd or acpeo:~d ~t u.r dus by Matp~et b~awe oE t1e' htlure ~E t1e
Mon~~tor b~ eaoptp wlt? ~sd abide b~ all w ~o~ af t6e oo~enasn, oa~ditioa~ aod ~dp~fadon~ ot ~sid aoty or ebia
~t+tA fa t Earalawro of tAi~ 4oo~a~e aod ia ooll~eaa~ tLe ~mount ~ecueed tiereby witr or wit`ort kpl prooeediup~ wd es rejrs-
bune t6e for eren paymeat made ec taeur~d Eor ~n~ wcM purpas w1t6 iatere~t ttos da~e ef eteqr we~ ~reeot n t?s rate e!
. pdu Pa a~ Pa ~ P~l'~s aod obl~ptioa~ w1t~ i~arat Ner~o~ n aforaddr ~WI rt s~cwred bp e~s Ib leresf.
kee~ ~nildln~ ~r~{~~ a~w er ~sratta ea ~aid laad towsed IoM or d~wa~e bl?~ fire. srtesdid co~cra~t u1
ot~c~ Perih. ~wain[~
wu ~isk Imuru~e i~ a~dl~blq in a rwn not la~ t6as tsdr tuil iowrablt ~alw at t6e oat ~nd a~petre oE tbe Irlo~- ,
~a~ in s caapaoy or oomp~oia appro~ed b~r t6e Mortp~ey tse potie~ or polida w bc 5sld br tbt Mo~aad wc~ poli7 or polkia a~
insurauce sYall ~are affised c?eceto ~ Saodard New York Mo~a~ce Cla iukio,~ all bw or la~es uoder or polieia pa~ble es ~ .
t?e Mo~~~ee at ia tatccat maf ~PPea+. ~od a ddi~a nid policp or p~oi da ~n tbe Mio~ee wren ba~ed w~ radp fet tre pa~
~ aKat of tbe psesium tberefor a,~d to ~re e.eat ur •um of ~oae~ becoma pa aW~ usder ~uc6 Poliep or Pulideti t?e Mwt~a~ee ~ball 6a~re ~
! ~~c~~aof for o~tber t?s wse oa ~oeawt of tLe u~1~~eMoa~ ~eeured ~r or ~o pendc ~6c Moet~ ~o recei•e aod we jy or m7 .
P~ ? P~~P~b ~ebut d~a~epr wairins o~ iwpa~eint W t'4ui4. liea oe t~¢t oedet or b~ rim~e ol eW awre~e• aod
~1e Mortsatee if ie deem~ o~ees~aq. w Pl~aoe wd Wy for n~eh jasunne~ or aar paet t6er~of~ w1tLo~k laio` wdnins o~ afEewo= ~lo~c~. ~
s~ee'~ optios to toreeiae tor breac~ o~ t6i~ oovesany or wy paet tUeeeof. or aa~ ri~ or ottas uadcr t~b mort~~, ~od e~enr suc~ WI-
meat tAtfl bear interat from date tbcrm~ uotfl psid u ttie rate of d~bt per ant~ ~r ~muq aod all we? W7~b witr I~at ar
' aforaaid srall be ~eeured by t1~e liea 6e~eof. L c6e ereat an~ IoM oe daou~e b wffe~cd Irloretapr s`ail noti4 Mor~ta~ce of we~ las er
dama~e wit6is focty-ei~ht (N) ?oun a[ter t,e happeoen~ theee~f; tie lail~ere eo dre ayd~ aotkc sball ooa~eitute a defauk ~od t~c Morera-
ree s6a11 h~re tbe ri~ta iu~do pren ior dl defaulb.
To pe~ oo~eoit ~.uffer w wa~te sod eo maincaln t~s in~peo.sm~ea at all eiaia 1~ a~tc oE ~ood erpaic~asa coalttdos; asd
a do erp~
e~o be doae eo wd pnmisa aotyin~ d~u will aher oe ehao~e tw we ud cluaet~ oE ~aid P+~P~7 K L~~1 lmpair ~r
weakea t6e seeuriry of isid mort~s~ Ia we of t?e eefwal. oe~lat e~ in~biliq ef t?e Ddort~os ts cep~ic aod maintaia nId~opc
~t=[K opE'p4 nWtn or wtie tbe qme ~s be made aad adraaoe maia ta d~at 6ehalE w6ier wms s6a11 be ~
br t6e 6en 6eroof aad beu ~oterat at tbe rue o~ el~it Per am (t%) per anuuo.
I0. To dett~er tbe abtraa or abur~ oE Htk o~uio~ t~e sortssssd p~operty to I~o~tsa~ee or ib dai=omd ~eat, wric? s6a11 ~t ~
al! tima,~ durlat t6e life of t6it moress~e, rawia ia tbe poMw~oe ~E t6e bloe~e ~aA L a~reot oE t4 for~clowre af tW~a~ortsa~e o~ otber ~
trao~fer of title, di d~bt, titk and ~~eerac ot_ ~e eso~c~or t~ aad co ..y .oce .b.ena .r ae.cnw et dde .ban eo ~e w,eea.er .r ;
srannti.
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11. lbat ae w~ita ot ao oo~ensot lcrdo or in t~e obllpt~es ~ecvred ;
aey ef cbe at~e~ cenin beroof or o~ the oote ~ewr~d 6ereb~. ~7 ~aU st aq tLM 4aafta be reld ~a be • wd~er el ,
s
lt T6at lo order to aoeekrate die ~uuritp oE t6e tadabad~ ~ereb~ ~ewrad renwe a# ttis fdhee et tie ~ :
wa~oeu, liabitiey, oblipcbn K eoc~brasu apoa ~aid ~e~t~ a~ ~erds ~rnide~, k s~aU ~ot b~ ~aoewe~ ~ roqubitc~ t!e ~
~Lall ~int pa~ the w~s. ;
~
lf. T6u if t?e Ns~o~ ~Sll ~dl. ae~teet K ref~w tK a pefiod ~f t?t~b t~0) ds7~ f~eU~r a~d Naeptbr a p~ tre ~~s- _
qdra+~ b be p~id b~ tre oote reaby ~eeured vr t?e ioterat teee~da specitied er as~ ot t~e wa~ d aeeey 4rds reierrsd es ar Deaeb ~ ?
currd, o~ otberwi~e dd~. lull~ aad Pc~spas a Pa~oes. ~~eut~ as~y witr ud ~6ideb~ aek r~et~ ~~~E t~e ~eosw` ~d~ '
or aqRulubw of e6i. seet~ tre pronu..orp aots ~enbr .eeured ~ealor e6e coa~tr~ai.. 1ea. s~reeseK iE wr. dKa ~ 4 dttier .r h ~
aar ef wea e.mp~ .~itbeot aodo..r ~m.na. d1e ,.iaa~e .us weatiooed a..ia rrosi~»rs aete. le. ke.ioo. pyse~ if ..r. ao~ ,
aar rod all wms me~tloaed ?eceia or ~eeured 6ereb~ .6a11 beoeve doe sod N7able fo~t?Rief ~ ttie~+es[ar u tlie ceatia~da~ o~eie~~
Morts~cc as fulty asd oompktdy a if said ~tpts ww wae ~rt~inall~ qip~ at~d a bs pid at we!~~ ~eythins io said
uote or herein to tLc oootraqr aod tY~t Mo~tp~ee s?ail be eadtkd t?ueupa~ er t~ereai~er wit~ax rwtia a~ desaod ~s is- ~
seiaue wit at law or in Wmq~s mfaec t6e n~p of t6e Mo~tpsee bere~nder or uoder ~ p+soiMOryr eeta Ia tre r~eot ~f aq dcfanh ;
er breaeb a, tbe part of cb~ Moctp~or ?a~amd or uoda aid p~omiaorp mre. t6e Nortas~e .ral! 6a.e e~e ao~waniat optko a e.focos
Pa~ment of all sum ~cured 6ereb~ b~ aaiao ~t law o~ b~ wit in eqn~ to fonelo~e t~b moKpa, dt~er er boti~ aooenrnn~y er u6erwise. ~
aod ooe action or suit ~bat) oot ~bats or be a bar ro or wsirer of tM M~e's risbt M ta~titute ar saiat~ia tie ~er, prorided ~atd Mat-
psee ~ball ~a~c ady ooe W7mmt and subfaeda~ of aid indebcedoe~. _ ~
14. 'l~at ta tbe e~ent t5u Mat~~sr~6~aq (1) ooe~eat ~o tbe appioemwt ~f ~ retd~a. uu~t~e w liquida~ of all er a wb~ta~Nal ;
of MonP~a'~ ~ or (Z) be ~d udicatcd a baskropt e~ iroi~ or Sk a hot~tsr~ peddo~ I~ baakrupter ~ admit ie writ~ns Id
~`-un p,~ ~ a~... ~ b«~ d~ make a ~rseral a~i~meet toe t~e bmd'u ~E a
~eekiu~ roor~wisaeioa oc ur~n~aneat wit6 eredito~s, or ~o ake ad e~ ~ite peatioe K ~e~wet ~
raaase a~ anr. i,rot.ac~ 4w. .r (s) Sk .n a..wer .doied.~ etie aa~
ceriat dteptioo~ oE a pet~tion filed apla~t t~e I~tottp~or L aar bsolwP~el. reor~adsadoa K inohme~r leoceedin` or aetioa' ~all be ~
aten b~ tLe Matp~or hs t6e purpo~e oE dfeecins ~er of cre tae~oia` or (7) a~y order• judpae~t or deaee .rail ee ea~ered opa. an
applieuioo of • uedito~ or Mor~a~ s~ a oouK o[ oompccest jrri~diceios appwrta~ a P~~ ~ NP~ ~ a radm ar trwt~ ~
of all or a wbtantiai psrt o~ tLe Mortp~oe's ase~s sad ~neL ardet, judpeeat or decrts duli ceotinw m~ta ed aod is eHat ta~ ~n7 Pe+iod of i
thiih (30y coo~ecutire da~m, tLe Mat`a~oe ~y decl~re tbe sott 6enb7? secured fo~t~wit~ dos aad ~ _
t6e Qocenst aarned ao tbe aote aad sA ot6er sunr ~crebr ~eaued ~bsll 6eoos~ teet?wit~ du~ ~od ~ wbereuapoa tie priadpd oE asd ,
wsabk a. it aU of ebe saia wv. of vo.ey ;
wcre oridnall~r stipulued a be p~id ~a a~Y da~; aed t~ersupe~ tM ~ wit6ooc ~ooa ot demaod ~~~ec a wtt at law anNer ;
ia equiqr as if all mooia ~enu+ed beeeb~ tiad matneed prler es h~ fatitQelo~.
is. Z1u t~e ldeetpsee or aar P~+~ 67 ~~Pl~ ~au ~a.~ ere rl~c M e~aer ~ro+ ~od iaspeet ctis ~estp~ed ;
premi~a u all rea~oaabk tima.
1~. ZZat anr wm or ~umr wrici oar be loa~.d or ~d~aecsd by tle ~tppe t~ tfe 1~tat~a~sr at a~~ ti~s witW ts (i~) ra~ 'r
from t6e date of tiis indauure. w~ai~es wttb toare~t t6eteo~ at tbe nte a~reed npo~ at t4 tise of wc~ Iwi er ad~aao~ ~iatt 5~ ~q~ll~ ~e- '
~ eured wec6 and wn t6e wms prJeriey r t~e ori~inal ind~sa~ asd be a~b~'
tw ~p t~e ano~ aodp~~,~ ~ eli~ satipp;p~ided. ~
dut t~e ~ue amam[ ot ~riadpal outataadias ~ 6me ~baq soe e~oee~ ae asou0t eqoal e~ aae ined~ a~d titqr per oe~t (iS0- ~i j
t6e P~iacipal amount ~ipaatb seen~ed iere~ ~
17. Tbaf. tf ~eqatred b~ Noetp~et. tie tdd 1~loe~o~ wIp pr ~M t~s l~t~a~eS M etie 8ist da~ ~f aek a~d e~er~ precwt~e `
so~tb. s w~seqwl t~ aoctwelft? o! tbe ~onwl aieowt eeoawr~ M~a~? dl •ta~a ud we~oe~e~ ~pteu tbe aid ~e~ed p+ed~e~, ~ay ~
moo~6lr sus ~o be caimaeed ~oky b~~p ~ee and ulentaad eo be .n a~.o~me aoe ta. e~a. eie ~.~c .E ~a a.~d said ~
~in~ta ~ for tLe prarlow ~rear aud ~f fwtha teqdrtd br Mortpjet ~u p~r dl i~rnrua ~te~imr ie va~oer ~ad ~i~ ~Ide~ i
/q~ o!, tiua~ ~ a~e~.
lt. 'I1~t t~ tLs e~eat tw lo~s wYcl~ t~a~tpp t~ ~ivea to ~eeete h rde ~E B~aeelq de~r
ap er die ooaKroeeJoa of tmpn~aseaes e~
Pcea17 asrea m depo~it~whL tLe lrlo~t~a~ee or ~ daip ~mt
ae ~ef potl , if ~wes ebe Mt
e~ tbe loaa ~ad tbs lotd ~mawt, r deterwina~ ep tM l~tatp~ee, Wrea o~ iatb ars~IMt aid o~edo~ L aaeetda~os wit! tfie tiaa~
and apsdfieatlow Desc~ofots wbmfaed b~ tlie 1~lo~tppt :ad a b~ t6e 1~lortp~es. 3aid ~soo~t ot ~eooe~ dall be pl~oed by etie
Mortp~ee fa a'Lwa~ i~ PnoeN Aooowt" !A tre aaroe af t?s ~od t4 ame ~sll M red t4
e~ar~es aed apea~s inarrrsd fe ooooeetiaa wh6 aaid oeatroc ftfoe peio~r M~~~~ani~ oE ~?b lo~a, It i~i ~urt~e:~~ a~~~
~aid eoar~ruaioo b aot tnly oemplacd aa or bdon tM due saced t~ ere rer~etlo~ Losa~ or ia eM~ tr~ic ~e~work
M
wtd ~~iali osau 6efore fnll oom Ictio~ ~od we6 earado~ ddl eoadaw to~ ~ petled ~ em (10) d+~ ~r-if wb~taadal eo~tiaw~r
pr~ras s6aU aot be made la wcL eoau~ the~ ~nd i~ u~ wer e~eat the aid a~pepte sosr Ni~iPV ~ i~ee~ e~otian+d L~aid
ew
P~~f ~ aod sll monia rewre~ bereb~ ~hap become dw tud payabk ~oe~witl er t~ereaker ~t t~e optio~ ~f aid~,~ ;ed ~s
ti~t ereot of ~ easadoa.of worf~ u ~aid ~aoseruedoe ~ot s peeiod of te~ (!0) da~ ~ if ~otid ooodn~a prper- ~1~ rat be
made io suek eoa~uuettoo. d storaai~t4 Idoetp~[e ~sa~ ~t ies opdm encer to~o aad npos ttie a~wt~~l~ ud asple~e aid a~-
~anctioe ie ~neU mmer a~ h dseau ~drisabk wit6o~R aof inoerEere~es hes tM Mert~apr• eie sdd ~f d~i ~~d~i
w tbe Mo~qa~ee fnll ~ower aod ~uet~xie~ b wte weti eot~ inro aed apon wid sert~ed a e~ea iw wre! a~tnas K aF !
aio=emeats n s~~ be aeaMaqr 1s eos~le~e s~id oo~atnctL~, wd ts e~en4 an~ se~ia remafa~L
~"Lonr L tnerw A~o~s~t" u~ ,
ts ~dditio~ aa7 weos of mooe7 oeoaurf m ooml~a aid eoo~enuNon; and ae~ aod dl soda acPeadsd bp tM Mo~tp~ee i~ areetfoo
witD wc1 easpletiaa of ooa~troetio~ ia aooew of t6e wouia ls ~aid "Lwas i~ Peooea Aooowt• ialt bs addd M t~t aid Ni~cipal debt as~ 1
~ ~Astt draw interat iu t~e rate pro~ided tn stid p+omiaory oote, asd ~al! be ~eaved b~ tY~ asor~ a~d s~l! ~s rqi?Ie ti t~s lRottsapr ?
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