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Home My WebLink About0931 . g S. Thu io t6e cvenc of a iuit beins iwdtuted to fo~a{ae thi~ mo~tsa~e, the Mert~ee ~hall es endtkd to appVr st aey? time du~ ~uch forecbsun iuic to the cuun 6avia~ ju~isdiccioa cbeccQf Eo~ che appointment of a raeirer of dl aod ut~ulu tse rno~ascd propteq~. of all ceats, incama, profits, issues aad rsvenua cheroof, from Rhatioe~er ~ource deri~ed; and t6cceupou it i~ 6enby e=pnssl~ oo~eaaated aad a~rocd chat t6e coun s6a11 tonbwit6 appoint ~ucb receive~ with tbe usud povna and dutia of raei~en. ia like easa; aod uid tp~ e pointmeot ~hall be made by t6e coun as a maaer of ucict ri~6t to t6e M aud witbout rehnoce to t?e adequacp or inadeqwnr of tre •alue of tbe propccty SeKbr mo~t~aeed, or co c6e solveaer or ia~ol~cncy of e l~or~a~or or W oJer pat~r defeadmt eo such wit. 'itit MonQa~or 6erebr spea~caily wairp tdt ri~ht to objat to t6e appoiadnent of ~ receirt~ o aforaaid aud 6ereby t:pt~aslr ootbenb t6at ~ue? appoiatment shall be made as aa admiaed equlqr aad as a muter of abwluce ~ht to ehe Mor[~atee sad tLat t6e same m~ be dooe witbou? aotice to the Mort`a~or. 6. ~n it aa~ procecdiu~s s6ould be imdmced asaimc c6e p~opc~ ao•end br ~Lis moes~ase upoo aa a6er tiw or cl~im w`et?er ~uperio~ or junior to the lieo of tlw mort~a~ t6e Moctp~ee mar u its option iauntdiately upon imticutioo ~wc6 suit ot du~ins t~e pend- eocy the~eof dcclare this ~oort~a~e and t~e iodebtednas secured 6eceb~ due and paysble forthwitb and msr at ia optioo proeeed eo toreclae this mort~age. To pay all and siagula~ t6e aott~ tea„ char~a aad ~pe~cs of e~eep kiad, jnclodFos ~6e aac of an abc~uc of dcie eo ~aid laod~ fouad to be conveaieat or ezpedimt in connation ~it6.au~r suit fo~ the foceclaure of tAi~s mo~a~and ala iacludin~ whetber t6e Mort~~et i~ obli~ated to pap sune o~ aot. reasoaable attarney~ fca incurred ot upwded u any eime br Mortta~ee baawc of t6e ~~ilure of tbe Moctg•rgor to performy comply wit6 and abide b~ all o~ aay of t6e oo~enana. oooditioo~ aod stipulatioro ~ ~aid pcaairocp nute, ot thia mortgaee~ in the fo~cclaau~e of this mortgage and in ooUatias the amount atnred hereb~ witr or witbout lepl erooeedinpr and /s ~eio~- bune the Mortgsgee for every• pa~aneat made or iacurrcd for to~ suc~ Purpose wits iaterat fras daee of snar weh payment at tbe cau oE eeg6t per cent (i96) per annum; sucb papmenu and obli~atioo~, wit6 wterat tLereon a aforaaid. ~Lall be ~eeurod by t6e Gee 6eeeof. i. To kee the buitdia~ or buildin~ now or 6ereafte~ on »id land iawced las or dawa~e b~ Sre, e~eaded oo~era~e ana p n other perib. including war riat inwnoce If available, in a~um not laf t6ao thd~ fu 1 i~utable ~alue at ttie oat acd e:pense of tLe Mozt- gagor ~n a canpany or oompaaa appro~ed by ~he Mortgagee. tbe polieT or polieia to be Aeld br tLe and wcL polie~? or polieia aE , insunace s6a11 Save affized thereto a Staadard New York Mortgs~ee Claua. makin~ all lo~ or loues und~~ pdiq or policia pqabis 1s t6e Mortgagee ss its interat mar appear~ and to dclive~ ~aid polie~ or policia ~o tbe Mort~saee whea issued w~t~ tbe raeipb he tbc pa~ meeit of the pranium teerefo~; aad in the e~ent u?~ sum of woe~? bocamn Pa able uader sucs policp or polieia, tbe Mo~ee s~all tia~e tLt optim to reaive and apply t6e same ao sooount of the inde~tedna~ aaured ~y or M penait t6e Mortpgor to rceei~e aad we it~ or anr part thereof~ for ot6er purposa, ~sitbut thereby wai~ia~ or im~airins an~ equiq. I~en or n~t under or by ~nrtue of tbis mort~ate• sod t6e Mortgagce if it decros ~ecasary may plice aod pay for such ~nsu~aueq or aay part tbereo~. witbout losins. wai~ins or aff~chc~ ~lort- gagce's option to foceclae for breach of this ooveaaay or anr put tbereof. or any ri t or optioo u~er t6is mortp~e. and e~er7 tnc! pa~- meat ahall bear iatcrest fran date c6ercof until paid at tbe rate of a~ht per uat (S~) pa amwq aod d1 ~ueb W3~menb wit? intere~t at aforaaid s6aU be secured by the lien 6ereof. In t6e e~eut aay IaN ~ dama~e L suffered No~a~or ~bsll uotifr I~oetsa~ee o~ we6 loN a damage within fort~-eig6t (~ii) 6oan after t6e ha~pening thaeof; tLe f~ilure to t+~e sueh notice s6a11 oomtihue a defau aod tbe Mortp- gee s6a11 6ave the rigLes herda givm for all defau b. 9. To permiy cnmmit or wffer no waue aod to maintaia eLe impro~emenp u all tima io a stue of ~ood cepair aad oooditioo; and m do or permic co be doae to said pr«aisa na6in~ thu will alcer or c6aa~e t6e u~e and eLaruter of said propertY or io any wap impair or e weaken the security of said mortgagr. In cax of tbe refusal. neglect or inabi4q ot t6e Moct~or to repair and maintaia said , ttie Mortgagee ma~, u ib opEion. make ~ueU repain or eawe t6e »me to be made and ad~ana mooia in that be6alf whicL ~ums s6a 1 be ~eeurcd by t6e liea heraof aad bear interat at t6e nte of tisht pa cent (!96) per annum. 10. To deli~er che abu~act or abtraca of titk oo~ering tbe mort~s~ed prope~ to Mo~asee or ib dai~uated ssent~ n6ic1~ s6ai1 u all times. during tLe life of chi~ mort~a~ raaain in the poaeauon of tbe Mo~ee aad io e~ent of tbe ioreclaure oE this mortp~e or abe+ cramfer of title. all cig6y atle and incereu of ~e Mo~a~or in and to anr weti ab.craa or abstraeb of titk ~Lall pa+s ~o tl~e purcha~er ar gnntee. 11. T6u no ~caiver of any oo~enant herein or in tLe oblisuioa secnred 6creb~ s6aU u an~ time ?crcafar be beW to be a nai~a ei any of the other terms hen+of or of t6e uote sanred bereb~. - iZ. 'I1at in order to aocelente the matueit~ of tbe indebtedons hereb~ ~ecnred beca+be af tk failare of t~e Mo~p~,~t co pa7 an7 t~ aaes~neut, Gabilitp, obligation or eocumbrante upoo said prope~tp a~ 6erdn pcotided~ it ahsll oot be nearsr~ nor req~iaitt that t6e Mort~ee shall fint pay t6e wne. 11. T6st if tbe Mort~or shall fai1. ne~lat or refu~e far a period o~ t6t~ (30) da7s fnU~r and prumpd7 ~ PU' ~ qui~ed to be paid b~ tLe nae 6creby secured or tre iocera~t tLenia spaifiod or aor of t6e sum~ of moae~ bereia referred to or `eeeb~ ~ cured, or otLerwise duy. fu117 ~ P~~7 ~ P~~. aom~ll wi~6 aod abide br eaeb„ e+ery or an~ of ~e oo.epaoar oond,aow or ~tipuluions of t6is mort~a~e. tLe pramaory noce hereb~ seenred aad/or tbe eo~r~o~ ban asramau. if an7. tLeq, and Ia dtLer at i~ any of ~ucb evma~ wic6ouc naioc or dmoaad, the saida~e~ ee sum mentioned in ~aid promiwoq note. lea~ P~iow paymeab. i! ~n7. aoa any and ail sums mentioaed hcraa or ~ecured bcreb~ shall beoome doe aod payaWe fort6wltL or tLerafter at tbe c~oodnuius ~ of eLe Mortp~ee as fuUr and oompletel~ u it said a~re~ate ~u~s wece oripoaliT sdpnlated tu be paid u ~ixh ein~ aoyt6ins ta sai Pnmiwor7 note or 6erein to the cootrar~ aotwitLsta~din& and the Mort~a~ee ~all be eatitled tberenpon or tkceafter witbo~t nodce or demaod ~o fa- ~titute wit at law or in equit~ to enforee the ri b of the Mortgagee bereu~der or under said ptomiaor~ aote. Ia t6e r~ent of an~ dehuk or breacb oo the part of tLe Mort~s~or er or undet said promiaoryr note. the Moctgagee sball La~e the ooutinuin~ optian to mfores ~ paymcnt of all suma secured 6ereb~ by aetion at law or by suit ineq ui~ty ~o foreelae tbis mort~ atbcr or bot6~ oooenrreaN~ or atberwiw ~ and one aaion or suic shaU na abate or be a bar eo or waiver of tbe Mort~agee's ri~ht ~o imtitute or maintaia t6e otler. pro~ided said Mort- i gagee s6a11 6are oaly oae paymmt and ~atisfsetion of said iadebtednns. ! 14. 'I'bat in tbe e~ent that ~a~o r s6a11 (1) ooosent to t6e sppdnemeat of a recd~er. trus~ee or Uquidator of a11 or a wb~antid ! put of Moct~oe's asety or (2) beM a~d!'udicated s baokrnpt or imol~em, or Sle a~olunar~ petitioo in baakruptcy~ or admit in writios ib ~ inability to psT ib deba as the~ baoome due~ or (3) make a~eaenl aMip~meat for tLe beaeft of trcditon, or (f) file s pedtion or an~wet ~eelting norQaniutioo or arranganent witb er~dimn, or to take ad•aota~s of anr imolreatp law~ or (S) fik an aaswer admittins t6e ma- ~ terial allegationa of a petiaon filed s~ainu c6e Mo,~a~ur ;n anr bankrupcer. r~organisation or insoheacp Proeeedin` or (6) sction sLall bc akm by the Mortgagor for the purpae of cffectins anr of t6e fore~oio~ or (7) anr ordu. jud~nent or deeree shall be auerad apon as applicuion of a ercditor or Mortgagor by a oourt of oompeteot !'uri~dicdon approvins a petiaan ~atint appdntmau of a teui~ct or tr~stee of all or a substmtial part of tLe Mortga~or's a~reu tad iuc6 order~ judgtoent or dares shall o~tiaoe ~ta~ed and in effat foe an~ period af thirt~ (30) oocaecua~e day~. the Mortgagce mar dalare che note bereb~ savnd forthwit6 dae and pa~abk. wLereupon tbe prinetpal o~ and che interat ucnud on t6e note and all other swns hereby sccured s6a11 bcoome fort6wit6 dne and pa~abk as if sIl of the ~aid ~ums of noooe~ we~e origiaally stipulated to be paid on sncb day; and tbereupon t6e Mortp~e wit6oat notiee or danand msy proiecnte a suit u lar? aad/or in cqui7 a if all mo~ia ~ecoced 6ereby 6ad muured pdor to ib imdcatioo. 1S. T6u the Mortgagee or any perwo a~orised b~ tbe Mort~a ~6a11 ha~e t6e ri~6t oo eata upon and impat tLe mort~ed premiaes at all rea~oaable tima. 16. T6st any swn or. sums vv6ic6 may be loaned or advanad b~ tbe Morc~a~ee ro eLe Mort~agur u an~ ams wi~6in aa (f0) ~ean fran the date of this indenture, to~etLer wit6 interat tberwn st t6e rate a~rad npon at t6e time of suc6 ban or ad~aace~ s6a11 be eqwll~ se- cured wit6 and 6a~e t6e ume prioriry ~s the original indebtednas and be subject to all tbe tt~ms ~nd pru~isiom of this mortp~e; pro~ided, t6at the aggregate amouat of priacipal ountaading at an~ time shall not e~oted an amonnt equal to ooe 6uadred and fift~ per cent (iS096) of che principal amoant originally secured henbp. 17. T6ay if required b~ Mortgagee. tLe said Mortga~or will pa~ anto t6e Matsa~ce, on tbe fi~ da~ of ac6 aad e~ery ooo~ecuti~c ~ nwnt6. a wm cqual to ooac~elfth of the annual amount neca~aq m pa~ all tua and sse~nena s~aimt t6e said nwrtgaged premiseti sdd ~ moat6ly swn to be atimated aolely by Mortgsgee and cakulued to be an amo~mt not 1e~ dian the aa~ount of tua asa~ed agaimt uid m~t- ~ gagcd pranises for tLe prerious ~ear. and if further required br Mongaset to pt~ all iasnraooe pt~emiwm in manner sad fors a~ pm~id~d herein for t6e paymeat of. tua and a~ea~meab. ~ 18. Tbat iu tLe e~au the, bsn w6ic6 tLis moctp~e is p~en to ~ecare i~ made fo~ tbe of fiaauciu~ eit6er tbe oo~doa of nev? buildia~s or tLe aon~truwoo of improremeaa sod/or additiaas to ~sans bai{dic~, tLe~p~or. tf reqnired b~ t~e Mortp~ee, ezpraslp agrees to depo~if wItI1 tb! Mortg~Qee or Ib dlfigDitld ~gt~t ~0 ~mount of moot~ eqnal M t~e differeote betwaen t6e ne! ~noee~ of c6e loan and t6e total amoun~, as decermined br tLe More~e~ Kqdred to fnll~ oompkte ~afd oomtcatioo in aooordaaoe witti tbe plam and spocifications heraofon ~ubmiaed b~ tbe Mortga~or and appeo~ed br the Mo~ee. Said amount of mone~ shdl be pl~oed bp ttie Mortgagce in a`2oans io Procas Aaoount" in tbe n~une of tLe Mortga~ur~ and tLe ame ~6a11 be med b~ tLe Mort~a~ee tu par t6e oo~tr. c6arga and ezpen~a incurred in ooanatloo wit6 uid oomtruaiw p~or ~o di~bnnin~ ol t6is loaa. It L furt6er asr~d t6at in tLe e~est ~ said oooscnxtion is not full~ oanpleted o0 or before t6e date suted in tbe C,oatroctioa Loan A~reement or in t6e r?eat t6at t6e work m ~ ~aid oonuruction sLall uase bcforo full oom~letioa aad sueL ea~ation a6a11 oontinue for • pcriod of ua (10) days, or-if substandal oootinuoar Progrea s6a11 not be made in suc6 ooastruetwo. t~m and in aar sne` srant ttie aid a~egate smq Prindpal and jnteray meotiooed in said pramiawr~ oote, and all mooia secured 6ereb~~ s6a11 ba~ome due and pa~sbk fo~t6witti or t6crcafter. u ebe option oE said Mo~t~s~ee; and is ~ c6e e~eot of ~oc6 «aacioo of work upa~ uid oo~tnutiao for s pcriod of tea (10) dar„ or if ~~taadal oontio~aw pro~ras ~6a11 aot 6s made in sucb oooatruccioa. as aforaaid. e6e Mon~s~ee ma~ a ie, opdon eocer ioco and opoo the aw ~g prem~us aad oompleoe ~aid con- ~ struction in wcb manner as it deem~ ad~isable wu6out an~ interfereace fiaa ttis Mo~or; tbe said 1~ bereb~ si~ aad ~ to t6e Mortgsgee full power and aut6oritr ~ make soc6 eatr~ tatn aod npoc aid mortp~cd pr~sn. eo eaeer i~o ~oeb ao~nas ~ ar- ranguncaa sr mar be nec~ar~ to oompkte said constructioo. ~ad en ezpend ~n~ mooia ranainins in aid "Loan~ In Prxar Aao~ouat' aod in add;cion an~ s~s of mone~ neoeasr~ co oomplete said oon~o~doo: and a~ aod all monia apended br t5a Mor~e in aonoee~an ~ with snch canptecion of eonstnxtiaa in e~ of t6e mooia in said "Losos jn Proces Aaooant" sball be added eo tht said priaeipal debt and ~ eha0 draw iaterat at tbe nte prorided in said promiswrT aotti aad ~hdl be sc~wred b~ t6i~ mortpse, and ~hall be psy~bk b~ t~e Mottp~ot on Qemaad. - gooK ~.40 _ 328 t-^ 4 , zr " ^ ' ' ' _ _ _ ,t:.^C 4' ' - - _ 4 _ R/, ~ .S'^` k '+~e . _ ,m . ~ ~.3TG.~~ 1