HomeMy WebLinkAbout1772 , .,..~r.. - -
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f. Z'f.e e~...r.~c .t s adc e~ ta~deae~l ~ t~neM.. tir .~etpa d. ~t«~qy~. .?.u ~tki~ M.~? ~.q d.. ~wdyt
wc~ fendowu~ wh M tM oaut ray~ jwi~dieeio~ t~ee~oE kr t~e a~oiwse~t ~E a i~er ol a!1 rd lu eM oort~eii N~q. aea
~E ~ll ~ay i~o~~ ~e4 _hw~a ud ee~snws t6ecMf, teow w4a~er rouroe ~ei~sd: aoa ~+oa~ L len6j up~eNipr osresuced
a~d a~resA t~at t~s oeurt vall ~tlwie? sppoiat wch ceod~er wit~ ~!t musl pwas u~1 dutip ~ noei~as !r W~s cna; wa aid a '
aio~a~eae stiau b~ s.ds e~ e?e co~ut s Aaaer ot .aia ~l¢c a tL~ 1do ~ad widwnt re[ermoe M tM .~de9w4 er i~uaq? ~t ~
~alw ef tis pcopeey ~or a tM ~aq? or taoheae~? oE~ er sq at~ec defendant M we? wit TM
~ be.~? ,~.d~aw,~•e e~, ei~e ~ o?~~a a~e ~ppoiweea~ oE a~~ ak~a~aid ao~`v6ereb~ a~ra.ir oonc.a ebu
appoiaaoent ~1 bt eade r u~dmitced puit~ tod a~ a ~oatter et abwlnee rls?t q tM Mo~et ~ tbat ttie wne s~,~ be dooe wit?out
oo~e ~ tDs ~
i. T1at iE m7 PraeeedInP ~houla be ta~tttuted ~aiwt t~e proper4 oo~eted by tWs ~uotesa~s opoo ao~ otAcr lien or d~e w?etLe~
wperfor e~ juaioe w t6e Ues oE thi~ mor t6e Mortsajee ma~ at ie~ optioo immedtaceb apoo Iadtutios of ~ucM wk oe durIas e?s pead-
~alare tli~ m~e ~nd t~eedoea ~ecuc~d ~r dne aod pqa6k h~dwit? sod mq u it~ opeioo prooeed a toc~c{o~s
7. To pyr sli aod lu t?t ae~t~ ka. ei~a~p aad ape~p of e~et7 ki~. teeladin~ t`e oat of m ab~traa oE titb ~o wid land~
twod to be ooa~eniau or ~eot Is conaeetias wItti aq wIt !o~ tLt foralaurs of t~tsuo~t~~ and ahs Iotludias, wlet~et t\e ~and ,
i~ abGptcd to ~ame or aot, rearooabk • ~ .
pa~ ame trornt~ fea toeurred K apeoded at aq~ tist Dr trs lrlo~et baawt of t?e hil~oi t6e
Hor~sa~or es~~ zorati oanWy witi and ~bide b~ di oe sq2r ot tM oo~eoaobr coodidoo~ ~od ~dpulatlow a~. s~id ~e~mirory ~ er thb
aortp~r, is fora{aurc ot tLbmo~s~e aad b oollewos. ebt amouot ~eenrcd beeeb~ wid~ or wittiout lealp prooe~diapr aed a ceis-
bune tbe ~~ee toe ereqr pa~ment made or Incurred ter ~o~ we~ Pu~pae wtt? tot~rest fios date ot s~er~? ne~ pq~oest u tbs rate of
a~t PK a~ (~'1i) Per amm~; ~ucl~ Pa~ asa obusstiooti widi inters~t tiiereo~ +u aionsa~d. a6a11 be ~ecared by tM Na ~ee~eof.
i. Ti kap t3e bdWla~ or bntldlnp aow or lereattes oo uid land iaured loia oe damase 67 fi*y estended au~ense asd
other periM, iocludio~ wu ~isk iawra~soe ff a~dlable~ in a~um oot las t6ao t6d~.fuil insuradle ~alue ~t t6e ~at aad e:pemr of t6e Mort-
~~n a oaapsnr or companla appcovcd 6 tLe Mort~areq t6e polie~ or policia to be ~eW br tee Moet~a~and suJ poliey er polieia o~
inuriocc ~6a11 ba~e affuced thercto a Stmda~New York Moctpsce Clawe~ ~sakin= dl lo~s or loaa w~der Folte~ or polieip parabk b
tk Mwt~a~ee ~s ib iaterat msy appea~. aad ~o deli~cr saiQ polk~ or poUa'a to t6e Mortpgee w6ea b~ued w~tlc tbe rccnpb tor t?e psr• .
seot of tbe p~ium dienfor; aod in t6e erent any sum of ra~oae~? baoma pa abk undu sueh. polkp or polidn, ttie Mort~ee ~hall ba~e
~ t1e optios oo reaive and aPP~7 tbe wae oa taoount of t6e iode~tednew .KU~ ~~r or eo ~~+st ~e ~to~~ a rens.e aua we o~ aar
put t6e?eo~f. fw athe~ purpaus„ witbout ebereb~ wai~it~ or impairiat anp e4ui4. lie~ os ci~t uoder or by detue of tLjs sott~a~e; aod
tYe Mor~atee iE it dcem~ oeeewry ma laee and pa~ for wts uan~aao~ o~ aap part tbcreof~ without iainL wdrins ~ aHeains No~t-
~ascs'~opt~oo a foreelae for breac6 0~ ~t. oo.~ o~ ~r wrc t~eoi. o~ wr ~ c or o~on ~a« ~orts~ ~oa .~,~u wr-
~eot ahall bear fnterat fran date chereof uatil Daid u ebe nte of ei~Lt per eeot (t~) per smum, ~od d~ sne6 papmeoes wit4 intenst a
aforesaid s6a11 be .e+eured br ~e Iten 6ereof. In t6e e~reat aoy loa or damase is ~uffered Irio y :
da~aate wit6is fo~-ei~ (N) bonn a8rr tLe 6ap ~rtss~o~t shdi eotifp Hort~~ee oE wcb loa oc
~ce sball 6are t6e ri~6q lereia ~i~eo for alt defaulb.~D~ tLeteof; tse failure to aire s~ notiee sLall ooeuityte a defauh and t~e Mortsa-
To penoiy ooaroit ot ~ufEec ao wate and to tn~intain tre impro~emeau at all tima in a uate of ~ood repai~ aod ooodidoo; aad
a do oepe ~mic to be done to uid premises aot~tos that wili aher or cLaa~e ttie u~a ~nd cb~aem of ~aid propert~ or is any war iiapair o~
weakea tiie aeurit~r of uid matp~e. Iu we ot tLe refustl, neQlea er Inabilit~ of tL~ Ma~or to repair and maiuuin aid prope~~ c6s
b~~ 6ea+~of and bepar u t6e ra~e of
Td~Lt Per oeot (t9L) per~~e ~ ad~aaee mooia in tdt bcLalf i?hiclt auo~ sball be iecure~ ~
10. To deli~er che abtract or abtnen of titk aareein~ t6e ~soct~ed pcoperty to Moctp~e or iu dai~sated aseay ~bic6 ~bdl at
dl tima, durioe t6e liEe of thi~ mortp~e, ~oain ia tbe poMeaion of t6e Mort~s~ec and ia event of tbe iorcclosure oE t6is
aamEer oE dtiq, all ri~ht, title snd interat of cAe Moit~a~or ia and to aa~ snc6 sbittaet or sbtracb e~ titk ~ball paM oo
~
p~rc6s+er or
R~~
• ll. T?~c no vni~er of~?r oo~aunt ~erdn or in t6e obli~ation sea~rcd berebp shall u a~ tuoe kaeaiter be Leld eo be a wd~er ef
.oy oE c~e atier ~ecavs hereof or ot che ma s~eured 6aeb~.
12. 11at in ocder ~o aooelerace t6e m~turit~ of t6e Indebtedness ~ec~ced 6eeau~e oE tie ldi~ue of ~e ylo~t~~ to ay anr t~ .
mawoeot. Gability. ab6~atfoo or encumbr~nce upon said propeit~ a~ Serdn yrovided. it ~aU uot be eeoa~aryr oor reqai~,ite t6at tbe Mortea~es
.ba~~ ~in~ p.y t6e .ame.
17. '~1iat if tDe Mortss~ s6d1 hil, nKket or re~we for a peeiod eE tLiet7 t30) days ~+q aod P~?P~~! m P~r t6e aaauob rr~ '
qwred co be paid br tbe note 6ereby ~ecured or tbe tncererc e5ersta ~pa~i8cd or ao~ of tbe a~ms ~mooe~ 6adn referred ~s or 6ereb~ ~
cured, or ot6ert+ise dulf. fnllr and prom~tir to Perfonu. es~e~te. oomvb witL sod abide by eae~, e'?eh or W of tLe oorenaot~, cmditioo~ ~ .
or nipulaaon. of ~his a4oe~.~e. c6e prom,»oq noce 6erebr .ea~red aa~lor ebe ooo.c~uccioa bw asreemeoy if asr. t~, aod ia dtler or b -
aar of suc6 e~enb, witbout notiee ot danand, the said a~gre~ate amo a~tiooed in sa~d promi~or~ oot~ la~ miau .
anr aad :11 sums mentioncd 6enin w~ecured 6eceb ahall beoome dne snd P W7~~. i~ soy. and .
l~foctsagce a fuU and oan kesi u if uid r wnbt~ forehwitL oe c6ereaker u t6e onorinwa~~ of t6e
r p r a~r~sa~e wms ~ere ori~a.U~ w~.ced eo be pa;d u socti ei~ ao~c6iag ;n rr.m~„or~
oote or 6enin to t6e coatraq notwic~taodiu& and tLe Mortsagee ~all be enatled tbereapou ar tbereafter wit6out notice o~ demand to ia-
~titute suit at law o~ incq
uiqr to eaforoe t6e ri~6b o~ t6e Mortgagee beoeonder ur vnder ~aid promisw~y aota Ia tbe rrmt of an~ default
or breacb oo tbe put of t6e MoctYa~or 6ereunder or under ~aid Pramiaoq note. t6e Mortpsee s6a11 6a~e t6e oontinni =
pasment of dl sums sauced 6ereb b~etian at bw or b sait iaeq
m~o foroclo~e this '
r 7 r ty mortea~e. at~er or bath, ooocurrmtly or aberwi~ _
aad one aaian or suit ~hal1 aot abau or be a bu to or wu~er af tLe Mort~a~ee's risbt ~o iostitutc or mainain tLe otLeq pro~ided said Mort- ~ ~
r~ce s6a11 ba.e only oue pqmeue aod satisf~etim of said indebtedna~. '
14. 13u in the e~ent t6u Mortga~or s6a11 (1) oomeat ~o t6e appa,indaent of a rad~eq trwta or liqnidaror of all or a wb~cancid
pact of Mo~a~nli i~b. o: (Z) be ad udiuud • baukrnpt or Ia~oareny or file s~olnotsr~ pe~tioo in bankrupth, or admit iu wririos tb
inabiliq eo pay in debb ~ tbep seooa~e ~ue. o~ (1) make a~eueral a~si~nment for tLe bme~t ot ucditon, or (4) 8le a paition or aoswes
sakin~ reor~ani:atioo or ucangema~t with ercdi~or~, or w tate ad~aocage of an~ iaal~a~ law~ or (S) 8k sn aoswer admietin` tbe ma.
terial alle~aations of a peeition filed aaaimt ~be Mortss~or io anr bankrupte~. reor~nisuion ot inaoheoe~r Penoeediub os (6) ~c~ioo s6a11 be
takco br tbe Mo~agor for tLe purpae of effeaint an~ of tbe foregoin~ or an~ order~ jud~ent or decree shall be eu~eced upon an
sppUcuioo of a eredioor or Morcgs~or b~ a court of oorape~ent 'urLdictiou aPproria= a petitioo ieekins aPpoi~emeot oE s raeirer or trustee
of all or a subuantial part of t6e Mon~o~~ aeets and ~uc6 ~er. judgment or deeree s6a11 cootiane umta~ed and in effect fo~ au~ p,eriod of
tbirtp (f0) ooaseeuti~e dt~s, tbe Moctga~ee mq daclare the note bcreb~ ~eturod tortbwit6 doe and paf~bl~ whereapoo tbepn acipal of and
tLe iatuat aocrucd oo tbe ~wte and all a6er snm. 6ereb~ ~eeuced sball beoome forc6wi~ due and payabk as if dl of tbe ~aid sums of mooe~
wen ori~inall stipulued to be patd on ~uc6 da~; and t6ercupoo the Mortp~ee without po4ee o~ demaod mq pe+o~eeate a suit u taw ~nd/or
in equiry a i~ att mooia .ecured renb~ 6sd marasad prbr ~o i» Ia,d~u6oo.
iS. T6u tbe Morega~ee or aor penoo sutborised b~ tk Mort~s~se sLall Lane tLe d~t ~o entcr upoo aod io~pax tLe moctp~ed
premiaa u all reasooabk tuoa.
li. T6at any sws or wms w~hich msr be {oaned or ad~aaoed br the Mort~~ee to tLe
lrom t6e date of t6is indeoture, tosether ~th internt t6ereoo u tbe rate iO~ u° (10) lean
tured with and Lare tbe ssme nori a~ tbe ori ' opaia at t~e tinne of w~ei ban or adfaooy ~hall be ~qwllr sc-
P~ 4 ~na1 indebteduw ~nd be wbj~et ~o all tbe tetm~ and pro~isiooa of tbis oo~e: Pro~ided.
~ie priena I~amount~on'~nattpn~aurodoutst~ndinr u anr time ~hall na e~oeed an amoaat eq~l to ooe ~nndr.cd aod fiftp per cmt (1SO96) ol
a o r benb~.
17. Tbay if required 6r Mort~ ebe said I?~toct~or w111 pa~ oaao t~e Mortpseq oo tre Snt da~ of eae6 and e~a~ eoo~eaui~e
mootb. a aaaM ual to ooe-twelfeL of t6e amual amount neca~ary? ~o pq all•qza ~ad asermeop apin~t tbe ~d
monc6y sum w be ewmaced wklr by Morceatee and aknlaed eo 6e an .~moune me te~. e~an eie .mo~mc of au. ~u.e.~ ~•aid
p~ed Premi~a for the pmriom yeu. and if furtba~ required br Mort~ae ~o p~ al! imnraaee presim~s Is saoee~ and ~~ocs n pro~ided
berein for tbe pa~meot o~ ta:a aod ase~aaeab.
1~. '1'r~t Is ~M N~ tfe 1e~a wtikti tWsae~p M dns a Meere M~d~ !it tM ~t liwda~ d~e tb~ anurretM~
of se.. buiWinp or e~e ooaicnrcdoa of Lopao.emeats aod/or .ddidow a e~da~ boil~opy tier 1~. it reqoi b~ ~le
apra~l~ asrca m depo~it witl~ t6e Nortp~es or its daiputed a~ent an ~mamt o~ ~ooss~ eqad » tre Heseooe 6etweea t~e s~~~~,
of t6e Ioan ~nd t6e eoa! smouot~ d determiaed b~ d~e Noetp~s, ntred a tnll~? oo~epe al~ ao~troe8o~ i~ aooordaoa witti t~r• pLr
sod specifiea[ioos ~erecufore wboitted bp t6e Llort~or sod a b~ t~e Moet~pR 8aid meont of moae~ asall be Plaoed ~ etie
blwtsa~ee Ia a"L~wn~ in Proas~ Aooooot" is t6e aame a~ t~e . aad tie saN~e abatl 6s wed b~ t4 Nortp~ee b M7 t~f • coia.
e6u~a aad rspca~a inenrnd in oooneetiao witb said ooa~teuc~ prtoir ts ~~~oE tL'a bm It M tartber asreed tbat L t1e e~eat
~sid too~enKeioo is not tnlt~ oomplaed on oe be[oce tW d~te ~tued in ere Iew~ o~ ie tbe eveat t6at t~e work a~
said ooa~troetiao ~6aii cease beEore iull oomPletioo aad sne~ oa~sBon ~Lap ooednne far a period e~ ta (10) da or tf wbanatial oootinnoa~
peo~ra~ ~hall aot be msde in wcti ooosunetioo, tbea sod in ~W we~ e~wt eLe add a~r~ePa ~4 P~~P~ meaBooed 1n sdd
Promia~orr aot~ aud all mooia ~eenred berebr~ ~6a11 6eeaee due sod psnbk toee~wit~ or tieirafoer at die option of *aid Mortp~e': aed 'u ~
tie t~mt o! ioeL taatioo o! worfc n ~aid cm~truetioo for a perbd oE tea (10) aa~ o~ iE ~a~audd eoatinooor
made io sne~ ooo~truaioa, o atotaat~ehe Nort~es aW at ib optim mta aod upon tre voet ~~a 1 sot be
stnxdao ta axb mamer a~ it dserw adrbabk witioat ae~ i~terfermes fros t4 t~e ~ ~ aad oas~lete aid coa-
~ ~7 tf~i ~ R~et
u oa ~y
~ ~u~ po~
~~nt6ori~ ~ wei eutrf iws ~ed o~oa t+dd ~oetp~id ~es~ m enat faos w~ei ~oatnw o~ ar~
~4 ~ b~ p7 moeia remaid L atd Zo~r L Pre~s Aooo~t' d
ts sdditios ~a~ wms of oooel? eeoa~a~f eo oomplets ~aid ooMeroaiao; ud ~op ~ad dl mo~ier espeded y ttie 1~loet~a~ee io ooweetia~
whb we~ oomplaioa o~ ooo~truaio~ in ssow oE t~e nwoia te aid "Iw~o~ ta Peeas Aoew~"' idl bs ~dded M t4 aid l~i~eiPd ~e6t ~d
~aU dnw interat u tie rate pmsided ia s~id p~ooi~ mt~, iod ~iall be ~ecw+ei h tY~ ~ aoi ~11 tie ~a~able h e4l~epp~
M AsaaoQ. . . ;
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