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S. l3ac in t6e eveat of a suit bcinQ inadtutecl to foreciwe this mort~a~e, the Mort~asee sball be entitled to apply st aay dme dun'oi
•uch forcclosure suit to the court havin~ jurisdictioo t6ereqf for t6e appoiatmeat of a receiver of al) and sin~uiar the mortQa~ed prope~~ sod
~f all rrars, inrnmn, protita. issua and revenua t6ereof, from w~haaoever wurce derived; and thereupon it u hereby esprdsly cove~anted
aad aYreed c6at t6e court shall fortbwith appoint •uch ~eceiver vrith t~e usual povren aad duda of receivers. in like cast~; wd said ap-
pointment ~Sall be made by tde court as a myne~ of strict ~i~ht to the Mort~aQee, aad witbout nference to the adequacy o~ inadequse~ of c6e
value of t6e oroperty 6ereby mort~aged, or to the solvrncy o~ in~olveney of the Mort~a~or ar any otAer p+~rty defendant to such wit. 'Ibe
Mon~a~or 6eteby speciticall~~ waive~ the ri~ht to object to tbe appointmeat of a receiver a afore~aid and hercby e:prasly aonsent~ tsat weh
~ppoiatment sha!1 be made as aa admitttd equity and aa a maaer of ab~olute n~hht ro the Mortga~ee and that the sarne may be donr witbout
noece to the Mort~~s~or.
6. Thai if any proceedin~s abould be inadtuted s~aimt the pmperty rovered by t6is roort~a~e upon aay aber lien or claim whether
~uperior or junior eo the lien of thi~ twort~a~c, the ManQa~et may at ia oftion imraediately upon instituaon of auch suit or during tLe peod-
mcy thercof declare thia roort~aQe u?d the iadcbtednaa setured Lenby due and payable forthwith tnd may at ib option proceed m farecia~e
this moct~age.
i. Ta pay aU .::d aingular the costa, fca, cbar~er and ezpenaes of every kind, ineluding the cost of an aburact of tide to said lands
fouad to be coaveaient or ezpedient in connection vrith, any suit fot tbe foreclaure of tLis moEtgage, and also includia~ w6ether the MortQaQee
i~ obliYatcd co pxy ~ame or not, reasonable attoraey'~ fets incurred or e:peaded at any time by tLe Mort~aQee because of the failurc of tht
Mortgagor m pcrform, castply wit6 wd abidc by all or any of the covenants, coaditioos wd ttipulations af said prwnirory aate~ or this
morcgage, in the fomlosure of thi~ mort~~ge :ad ia collect~ne the amouat securcd he~eby with or v~it6out IeQal proceedip~w, rnd to reim-
burae the Mort~agee for every• payraent made or incurred for any such purpase with iaterat fraan d~te of every sucb payment at the nte of
eieht pcr cent (E96) per annum; sucb paymeab and obliga?tions, wit6 intersst therean as aforaaid, s6a11 be secured by ehe lien Leceof.
t. To keep t6e building or buildiogi now or hercafter oo said land inaured a~aiust loa or dama~e by fire, eztmded oovera~e and
ot6er p~rils, ia+cluding wsr risk ia~unace if avtilable, in a,sum ~not lese thaa their full insurable v~ive at the c~ost and expense of t5e Mort-
gagor in a canpany or companiee approved by the Mortgagee, e6e pnlicy or policid to be 6eld by the Mortgagee, and suc6 policy or policies of
insurance sEall Aave af~xed tAereto a Standard New Yortc Mortgagee Clause, mskiag all lo~ or loues under sueh policy ar policies paYable to
the Morcgagee as ita interest may appear, and to deliver said policy or policic. to the Mortgagee wGen issucd with the receipts for tLe pay-
ment of the prcmium therefor; and in t6e evtnt aay sum of money becomxs payYble undtr ~uch policy or policiea, the Mortgagee s6a11 6ave
the option to receive and spply the s~e on secount of t6e indebtedne~ secured her~~by or to permit the Mongagor to re~eive and ux iq or any
part thereof, fo~ othe~ purpoaea, v~it~out thereby waiving or impairin~ anp eo~~ity, lirn ar right under o~ by virtae of thi~ rnoctgage; and
t6e Mortgagee if it detma necessary may pl:ce aad pay for suc6 insurtnce, or iny part thereof, witLout losing. v~aiving or affating Mort-
~agee'a optioo to forceiwe for brexeh of tbij covenanr, or aay ~part thereof, or any ng6t or optioa under t6is mortgage, and every sucL pay-
ment shall bear interest from date thereof until paid at the rate of eigbt per ceat (E96) per annum, and all ~+~ch pay-mrnts witD interx~t as
aforesxid s6aU be secured by the lien 6ereof. In the event tay ~o» or dunage is suffered MortQagur shall notify Mortgsga of ~uch loa or
duaage within fortp-eight (4E) }aure Aftif the ha~pening thereof; the failure to give such notice ahall comatute s defauh and tLe Mort~a-
gee ahali bdve t6e rig6b he~ein given for all defau ts.
9. To pernut, commit or suffer no waste snd to mainttin the improvemenb st all tima in a state of g~ood repair sad coadition; and
to do oc permit to be done to said premisea nothing that will atter or c6aage t6e use and cha~scter of uid pm{+erty or in any way impair or
weaken t6e aecurity of said mortgage. In case of t6e refuaal, neglect or insbility of the Mortgago~ to repair and maintain said propercy~ the
Mortgagce may~ at ia opEioa, make such repain or cawe the ~ame to be made and adrance monia ia chat behalf whic6 sum~ ehall be ~ecured -
b}• thr lirn hereof sad bear interat at the rate of eigbt per cent (E96) per annum.
10. To deliver the abstract or abstracb of title coverina the mortQaged property te• Mortgagee or its designated agent, ~vhich s6all at
all times, during the life of this morcga~e, remain in the ponesaion of the Mort~a~ee ind in event of the foreclosure of thi~ mortgage or ot6rr
tranafcr of tide, all right, titie and interest of the Mort~agor in aad to any sach abstrset o~ abatrarts of titlt s6all p~aas to the purchaser or
grantet.
11. 'I'6at no waive~ of any rnveaaat hcrein or in tbe obligation secured hereby t6a11 at any tims hereafter be held to ba a~aaiver of
any of tbe at6er terms hereof or of tbe note secured hereby.
12. T'hat io order m ucder:te the maturity of the indrbtedneu hercby ~ecurcd becawe of tLe failure o# the Mortgagor to pay any tau
asseaunrnt, liability, obligatioa or er.cumbrance upoa ssid property as 6erein pm~ided, it s6a11 aot be necessary nor requisite t6at the Mortga~ee
shall first p:y t6e same.
13. T6at if the Mort~t~or shall fail, ae~lect or refwe for a period of t6irty (30) day~ fully and pranptly m pay the a~nounb m
quired to be paid by the note hereby ttcured or the interest t6ercin spaified or any of t6e sums of money 6ercm referred to or herebr ~t-
~ cured, or otherv?ue duly~ fully aad promptly to perform, eucutq comply with and abide by tach, every or any of tllt COYCp~OLf~ conditioo~
or stipulatioas of this moR~sg~e, t6e pranissory aote hereby saured and/or tbe canstruetion baa agreement, if any, t6en, and in either or ia
any of such events, without oocice or demand, the erid agQregate sum meationed ia said promiswry aats, las p~cvious payments, if any~ aad
any and s!1 sums mentioned 6eroin or secured hereby shall become due and paqablr foct6witL or tLerrafter at t6e OOOt10uiOg aption of tbe
Mortga~ee as fully and cor,~letely as if said a~gregate ~ums w?ere originally stipulated to be paid at such timq anything in said procniiwry
note ar herein to the contrary not~+it6staading„ and the Mortgagee s6s11 be entitled thereupon or t6ereafter witbout nocice or demand to ia-
~titute auit at IaK or ineq uiry m eaforce the ri~ha of t6e Mortgagee hereunder or under said promissory oace. In t6e evcnt of aay dcfault
or breu6 on the part of the Mort~agor hereunder or under ~aid promissory note, the Mortgagee s6all ba~c the continuing option to enforce
payrnent of all suans secured htreby by ~ctioa at law or by suit in equity to forcclate thi~ mortgzge, either or both, concurrrntly or otherwise,
and one action or suit sball aot abate or be a bar to or waiver of Rhe Mortgaget's right to inaritute or maiatain the otber, provided said Mort-
gagce shall have only one paymenc and srti~fsction of ~sid iudebtednai.
14. 'I3at in tl~e eveat that Mortgagor shall (i) conaeot to tbe appoiotinwt of a recdver, trwtee or liquidator of ali or a subuantia!
~art of Mort~aQo~s a~sets~ or (2) be adjuditated a banttupt or iasolvrnt, or file a ~oluntar~ ptation in baakruptcy, or admit in writia~ ia
mability to psq ib debt~ as the~ become due, or (3) make s gcntnl aai~runent fot the benef'it of crtditon, or (i3 ~ic a petiaon or amaes
seekinQ reory~anizatioa or arrangemeat with crediton, or to take advaatage of any iwnlvency la~, or (S) ~ile an answer admittin~ tbe ma-
terial allegadon~ o# a petition filed against the Mortgagor in a~y bankruptry, rcorgsnizuion or iasolvency proceeding, or (6) sctioa ~6a11 be
takea by t6e Mortgagor for tht purpae of effecting any of the forrgoing, or (7) any order, jydpneat or decrce s6a11 be cntered upoo an
application of a crcditor or Mortgager bp a court of competent ju~iidiction approving a petitioa teeitinQ appoiarmeut of a reetiver or truatee
of a!1 or a ~ubstanriai psrt of the Mortgsgor's amn :nd auch order, judgroent or decree s6all oontinue unst:yed anci in effect for aar period of
tbirty (30) consecutive days, the Mortgagse may declare the note 6ercby secured fort6witb due and paysble, whrreupon the princinal of sad
~~s interat accrued oa t~e note and all other aume hereby ~ecured ~6a11 ba.rome forthwith due aad gays.ble as if all of tbe ssid sums of monty
were originally stipulstcd to be paid on such day; and tbereupon t6e Mortgtgee wit6out noace or danand may pr.~aecute a suit at law and/or
in ec~uity~ se if all tnonin ~anred hereby had maturcd prior to ib in~stution.
IS. °I'hat the Mortgagee or any person authorized hq tLe MoRgaaa ~ha:l hsve the rig6t m enter upon an~ iropect t6e tnortQs~sd
premisa at all rea~onable time~.
16. That any sum or suras which may be Ioaaed or advsuced by the Mortgagee to the MoKgagor at any time within ten (10) ycan
from the date of thia indenture, tagether with intereat t6ereoa u the rate agreed upon at t6e time of euch loan or advance, ~ball be equally se-
cured with and have the ~une priority as t6e original indebtedna~ and be subject to all the terms and provisiona ef this mortgsgs; provided,
t6at t6e sggreQate amoun• of principal auestanding ac any time shall not ezceed an amount equal to one hundred gnd fifty per cent (1S4°/'o) of
t6e priacips) unount originally secured bereby.
17. T6at, if required by Mortgagee~ tbe said Mortga~or will pay unto the Mortgs~ee, oo the ficst day of each and cvery coosecutive
month, a wm cqual tA one-cweift6 of the annua! amaunt neces~arp eo pay all tas~ea and a~rsrmenb again~t the uid mortqa~ed premi~ea, said
monthly sum to be estimated ~olely by Mortgagee and calculated to be an arnourrt aot le~e t6an the atnaunt of taues asesaed agaiast said mort-
gaged premiaee for the prtvious year, sied if further required by Mortgagee to pap sli in~urance ptemiuma in manner and form n provided
, hcrein for the payment of tases and aaae~ments.
18. T6at in the rvent the loan wbich tbia mort~age i~ ~iven to aecure is made for ehe purpw~ Of ~OEOCIOg cithsr t6e constructioa
of aerr buildin~ or the conatruction of impro~cmrnsa and/or additioas to e~stia~ buildings, the Mort~aQor, if ywred by the MortgaQec,
ezpres~ly agtea to deposit witb the Mortgagee or in daignated ageat an amount of moaey tqual to the differeo~re bt`tweea tbe net proceeds
of the loao ~end t6e tat~l uaount, ts determined bp the Mort~s~ee, nquirsd to fullr oomplete ~aid ooostruction in sooordance with the plam
and sptcificstions 6eretofore subm'sttcd by the Morcga~or ~nd appro+ed by ehe Mott~a~ee. Said amount of mooe~ s6all be placed by the -
Mortga¢ee ia a"Loan~ in Procw Aaaunt" in c6e aame of the Mortgagror, aed tbe siume ~hsll be usrd br the Mort~ap~ee to pay t6e cort~,
char~es and ezpensa iocurred in coaaection with said ooomuctioo pcior to diibuesina of this loan. It is further agreed tbat in the trent
~sid cunstruction i~ not fully cornpletcd on or before the dtte aated fn the Co~truetion Loan AQreerumt or in tLe tveat thu tht wort o0
taid OOhKiuCtlOi~ tball cease before full co~~leriou aad ~uch cwation shall coaduue for a period of tm (!0) da~s., or-if substantial aontinuow
progrea s6a11 twt be made in ~ucL constroct~oa, thm and in any fnc6 e~ent tbe aid aagregate rwq ptincipal and interat, meadaued ia said
promiworq note, and all roonies saured bcreby, ~hatl beoome due ~u?d papable forthwith ar thereafter, at tLe opaoa of eaid Mortgagee; and in
the eveet of sucL ce~ation of woric upon said rnustrnction for a period of ten (10) dari, or if ~ubstandal oontinuou~ pro~re~ r6a11 ~wt be
made in suc6 canstruction, a aforesaid. the Mortga`ee ma~ at ia option enttr into aad upon t6e tnottgaged premisn and complrte said con-
rtrucdon in such msaner as it deems +~dvisable wit6out an~ ioterfereace fraea tbe Mort~a~or; c6e •aid Mort~~a~or Lrreby ~iriaQ xad ~rantin~
to the Mortca~ee full poner and autboritq to make such attry into and upoo ssid mort~aatd premisa, w rnter intv suc6 coatracb or ar-
rangemcnts s~ msy be necasxry to camplm said oonaruction, •~d to apead tny monia remainiag ia said "T.oaas in Procea Aoovunt" nnd
iq Rddition anp auma of money oecasary to complete ~aid tonstructson; and any and all monia ezpended br t6e Morcgsgee in connatioo
with ~uc6 completion of constructiun in ezcess of the monia in aaid 'Zoans io Pmr.esr Avcouat" s6a11 be sdded to t6e a~d priucipal Sebt ~od
•hall draw interest at the rate providcd in aaid promissory note, and ~hal] be secured bp chis taortga~e, aud ahall be psqablt bv the Mort~agor
on deroand. O ~ j ~~n
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