The URL can be used to link to this page

Home My WebLink About0734 z s. '1'~ac is tb s~rmc of a•uit bdas imdcuted a iweclae t~s mo~cp~ de l~tte~e ~hall be eadckd te ap~? u auy woe durinR ~uc~ foreclosuce ~uit ~o t6e oouK ba~ia~ juradie~ioo ttic E fo~ t?e appoinaaeoc of a recei~er of dl aad dn~ulu t6e rnor~s~ed Prope~. sod ef all reots, iuoomes. Profie~, issup ~ad rs~reuup t6enof~roa? RAaaoe~er aurce dert~cd; and thcreupou It b 6enby espnalr oo~enaoted aod ajned t6at tLe ooun a6s11 tortlwit? appoiat ~uc6 raeirer wit6 t6t ususl poKen sad duria ot ~eoa~cn. in lite easa: and ~sid ap~ poiatn~ot ~6a11 M made b~ tbe court a a mattc~ oE ~tri~t ri~6t to t6e Mo~rc~s~ee, and witbout rehreote ro t6e adequae~ o~ iaadtquaq of t`e ~alue of tM prope~q benb~r morc~edt oc to ~ al~eae~r o~ irod~eaqr o! tM Monp~or or W ot6e~ pa+t7 defeadsot eo sucb wit. T6s Morc~a~or rcreb speeificaUy wai~a cre ri`bt ~o objeet eo c6e appaiouneat of a recei~er as aforesaid aod 6erebr upcaslr ooweots tbst ~uc1 appoiaaaent shal~ be made as an admitted cqulnr aad a~ a matter of ab~oluce ~i~ht ro tbe Moc~a~ee aad tLat tbe wae may be doae witsaa noeios t~o tAe Mort~or. Z1at tf wp pracadia~s abouW be in~dtutcd asaia~t the properq ao~e~ed b~ thii mon~e upou an ot6e~ 4ea o~ cl~im w~ethe~ supc~ioc oc junior b t6e liea of thi~ tbe Mortja~ee ma~ at ib dpaoo immsdiatel~ upon iwtitudoo ~~ue6 ~uit o~ durin~ t6e peod- ene~ t?ereof dalue t6n mo~tsaae aad t~ebt~dna~ ~eeured bereb7 due and p~able to~tLwich sad mar at ta optiau proeced ~o toreclae cbh aoortsa~ 7. To par all aad lu t6e oat~ fca, e~~r~a and apensa of eveq klnd, ineludins t6e cat of ~n aberact of title to ~aid land~ found a be oon~eaimt or~ mt in oonn~cciac wid~. aqr suit fo~ t6e foraiau~e of thi~ ~e, aod abo includiu~ w6etDer tbe or~a~at is obliptcd to pa wne or aot. rawnabk attoraefi ~fea incu frr~ed or espended u an~ a'~~ tbe Mo~ seawe of t6e hilure~ of t~e Mocep~or ~o oanply wit6 aad abide b~ all o~ any ot the ao~euanq, oondiaoos and ttIpalatioo~ ~~aid pt+aainoq? noty or tLi? moet~s~e. in e foreclosure of cbi~ wo~a~e and ia oollatin~ the ainount ~ecwrcd bereb~ witb o~ witbout kpl proacdinP. aod ~s caai- bu tbe Mort~a~e for eveqr p~meat ~ade or ineurnd for ao~ wc? purpoee wit6 interat from date of evep ~ueti paYment u't6e nce oE «trt Per oeat (i7i) Per amum; suc6 paymeots and oblisacioos. wit6 iaterat tLe~eoo a~ afofesaid. sbatl be secuad ey tLe Gen 6ereof. i. Tb tM bniWtns ot b~Jldinp oow or rersafter on stid land inwred a~aimt IoM or dama~e by $re~ ernadcd co~erase aod aLer perib. inc~ wu ri~k tosunna tf a~ailablq io a rom ~na las t6an thdt fult imurable ~alue at t6e aat and e:pense of tre Mort- ~a~ur io a aaapaoY or oompania appro~ed b~r t6e Mort~atcq tbe polie7 or polieia to be 6dd by the Mort~ee. and wch polie~ or poliaa o~ iasunnee ~bail 6a~e affized tbereto a Stsudud New York Moctga~ce Clau~ makins all lo~ or lo~se~ under sue6 Foliep or polieies parabk eo t5e Mort~a~ee as ib intecat may aPpeu. and eo deli~er said polie~ or poliaa eo tbe Mor~gagee when isnxd ~r.th t6e ~capb tor ttie pa7- ment of t6e pe+emium tLerefor; and ia the eveat an~ tum of becoma pa able under ~uch policp or policia, t6e Moctaagce s6a11 ha~e t!e optioa to reoein aod appl~ tbe »me ou aooount of t6e inde~ securod ~p o~ to permit t6e Moctga~o~ to recei~e aad uae iy or sn~ put t6ercof. for ot6er purpoaes. witbut ti~~cbr wai~Ins or imFairia~ aqp eqwtp. lien or ng6t uuda or by ~irtue of this mort~e• aad the I?~oet~ee if it dcems aeee~aq mq plaa and pa7 for wcb imunoo~ or aur part thereof. witboat losin~. wai~int or atfatiaa ~loct- ~e'~ cPdon to foralae foc bracL of t~ia oo~enanti or W p~ec tbereof, or anr n~6t or opeioo uader this morK~ir. and eveq suc~ W7` meot ~all bear Interat fe~om date theccaf nadt paid u tbe rue of ds6t pa oent (i96) per aan~uq and dl a~ p~y-mena witL iot~rrat a~ aforaaid s6a11 be seeured by the lim beceof. Ia tbe e~eat an7 IoM or dama~e is snffered Mortp~or s6a11 notifp Mort~a~ee of s~e6 IoM or dama~e wit~ia tortyy-eis6t (4=) bours aEter tLe 6a lminB t4er~of; tbe hilure to ~ive such notice s6a11 comtitate s defauh aad tbe Mortp- t gee shall ha•e tLe ri~es 6eran `i~ea for dl dehu 9. To permiR aommit or wfkr oo Ka~te and to maintain tbe impronemma u all tima in a aue of ~ood repair and ooodition; aod ao do o~pera~t a be doae to ~aid premisa aaLio~ thu will aher or c6an~e the we and character of said propertp or in aay wap impair er weakea t6e sauritl of said morc~a~e. In ca~e of the refwal. ae~lat or ins~lit) of t6e Mott~or to tepair and wainaia said propertr. the More~agee map. u its opE'wq make weh repain or uwe che same to be made sad ad~aaa monia in tLat be6alE which was shail be secured b~ cre uen Lercdf aod bcar ioterat at tLe rm o~ dt6t per ant (i%) per annum. 10. To deli~er the ab~traet or ab~traw of dtk oo~eriog tbe ~ Pwperty w Morc~a~ce or its dai~nated agrnt, .sbicb s6ai1 at all tima~ durin~ tLe Uh ot this mart~ate, remain jn t6e poae+uon of t6e etaa~ce and in e~ent of tbe toralosurc of this awrtga8e or atber tramfcr of title. all ri~bt, titk aad intecat o~ the Mortp~oc ia aad to an~ sneL ab.crace or abacraw of ack ,sap p:+. co che purcbase~ or ~antee. 11. T6u no wai~er of ao~r oo~easot tia~ein or in t~e ob4ptioa seeured 6ereb~ ~ball at aq~ time tiereafce~ be beld to be a Rai~e~ e1 any of tbe ot6er ter~ 6ereof or of t6e note seenred ree~b~. lt That in order oo .oalerue rLe m•carib of ~Lc tnde6cedner 6aeb~ sauced because of ebe failure of ~e Morcp~or co psy any cu ~ liabilib. abllptioa or eacumbraoce npoa ~sid poopert~ a~ herein pro~ided. it shaU aot be naus~ar~ oor raquisite c6at t6e Mortp~ee .6an firtt p.r ~be ame. 13. T6u if tfe Mortsa~or shall fail. neslea ~ rcfine for a period of tLiety (30) days fally and PromPV7 ~ W7 che amamti re- quircd ta be paid by t6e mte rcrebr ~ecnred or ttie i~erat theian spetified or ao~ of tbe anms of monr~ 6ereiu rehtred to or 6eeeb~ ~ cuad, ~ otberwue dW7. ~7 ~ P~~7 ~ P~~. ~4 oomp~r wit~ aad abide b~ eacL. e~er~ or ~n~ of tbe co~enants, oonditioa~ or atipulatioas of this mott~e. tbep oote 6ereb~ teenred an~lor tbe ooo~trnaioa ban a~tee~, if an7. t6en. and iu dtbet or le aor of a~cL e~mt~ witlaut ootiu or d~tbe ~aida~ep~e s~ meationcd in wd pcomis~oq ooce~ las pee~aus W7~. ~~7. ~ an~ aad dl sums mentlooed berein or ~eenred hcreb~ asb bcaome due and pa~aWe fort6with or tbereaher at tbe oontinuins optioo of t6e Moetpree as full~ and oompktd~ a~ i~ ~aid siFegue sium were ~ipaaUy stiFulated to be paid u soch tuoe. ao7t6inB in wd prrmi~oq oote or 6eran to tbe aontrar~ ' and tbe Mort~asce sball be eanded tbereupon or tbereafar witbout aotice or demand to in- stitute soit a law or in t~ to eaforoe t6e of t6e bloregagee 6erenoder or under said pnoma~or~ nota In t~e e~eot oE ar~ defauh or bceaeb oo tbe part o~~ 1~ 6a~or uodet aid promiisorr note, tLe Mortga~ee s6all ha~e d?e ooatinuins option ~o eafora Psl~~ of dl s~s ~e~wred 6cnb~ acdoa u law ~ bj s~dt in ~o foreelae t6is mort~age. dt~er or botb~ ooocurre~tlp or aberwisS and ooe aewn or aut ahall not abate or be a bu o0 or wa~~er of t6e~irtgag~ee'~ ri~pt ~o imtiam or maiatain t~e otLer. pro~ided said Mort- ~ sa~ee ~6all La~e. only ooe pqmenc and satiwfaetion of said indebtedoes~. ~ 14. T4tt iu t6e e~ent t6u 11~L~r t6aU (1) ooo~ent to t6e appoinemeot of a rad~u. truKce or liquidaoor of all or s subuaotid put aE b~o~~~ arev. or (Z) be ad a b~nkropt o~ ia~oh?mt. o~ file a noluntar7 Petition in bankrnpecr, or admit in writia~ tn inabilit~ ~s pq its debs ar t~ bcaome ~oe. or (i) mste ~~meral aMi~ for tbe bmeft of erediton~ or (4) Sk s pedtion or ao~wa E ~o[ ~~~tan or wit6 aedimn, or ~o tste ad~snta~e of any imof~eaer law. or (S) Sk an answer admittin~ tbe ms- ~ [erial al d a peoitioo~asaio~t t6e Moet~a~or in an~ bankcupter. reor~anisatian or inwheoep Proeeedin~ or (6) sctio4 sbap be akm b~~M~tp~r for t6e purpae of effeedns an~ of t6e fore~oio` or (7) an~ order. judanmt or dacree sball be entered npoo aa ~ applic~ of a aedio~ or Morc~a~or b~ a oourt of aompeteat !'nri~dletioo aPpro~i~ s petition seekini appoiatment of a reeei~er or tru~tee ~ of di or a wbuantial part of the Mort~a~ui's mets and ~n~ orda. lud~meat or dacree stiall o~tiaue m~ta aod in eHea for an~ period of ~htrt~ (10) eoo~eeud~e daM t6e Mortes~ee ms~ d~elaee the note hereb~ ~aviced iorthwitL dne and pa~ab~w6ererpoo tbe principa! of aod tLe interdt aoeroed oo the note and all a6er smns 6ereb~ sanred s6s11 beoans fo~trwitti dne and papabk as if a11 of t6e said sums of mooe~ werc oripoallr ~polated ~o be paid oo soc6 da~; aa~ ~en~pou tLe Mortp~ee wjt6o~t notice or demaad mq proiecute s wit at law and/or in equiy ar t! all mooia ~eeond 6ereb~ 6ad a~atar~d pelor ~o iu imdcutlao. IS. That tLe Mo~tpKea or so~ pe»on autLoeised b~ etie No~tp~ee ahall 6ave t6e ri~t eo entcr upoa snd inspecc the a~wtp~ed premisa at all renooable tima. 16. Tbat an~ wm or ~ums which may be Iwncd ~ ad.snad b~ ~e Moe~ee eo che Morip~or u any ame wi~6io tea (10) ~eus from tbe date of tLis iodaunre, oo~abcr witL interat t6ereon u t6e rate a~reed npon st tbe 6me of sueh ban or ad•anc~ srall be equdl~ a- carcd wit6 sod ha~e tbe ~ame ptio~it~ a~ t6e od~tnal iadebbednew and be wbjeet ~o all t6e tcrms and prorisiom of this moreP~e: Pro~ided. chac ~be ~epte amount of~nna pd oubandIns u an~ Bme s6a11 not esued an ~monnt ~qual to oae hnndred and flit~ per aa (1S09G) of cbe priaeipal amouoc orisinal4 ~ecnred her~. 17. T6u, if r~q~dred M Mort~a~ee, ebe said Mortp~or wiq pa~ o~o t~e ldorttssee. ao tbe fint da~ of eae6 and e~ery ooo~coti~e montb. a w~meqnal ~o coe-twelft6 of tbe aanoal amoaat oeoa~a*7 eo pq dl -ta~es aod ara~oeaer aeaidt tLe aid aoorcpscd Premi~a„ sdd ~ montLl~ smn eo 6c aamatcd ~old~ b~ Mo aad ealcnisted Eo be an amovn~ aoc la~ t6aa tLe amomt o~ tua aweMedaga~mt ~dd mort- ~ 8~~ P~ ~~e pre~ioa~ resr~ and~rtber req~red b7 ~ m P4 all iwaranoe pe~mium~ in mauner ~ad form ar prn?ided 6erdn for t6e pa~meat of_ ttus tod a~e~b. lf. 'Tbat in tbs s~eat the iaa w6k6 tibm~r i~ ~ivm to ~ecure b mads for e6t of tinaodns dt~a t6e ooe~uedoe of uew b~dldinP or t!t aoa~eoeeion of impraraae~w asd/ot ~ddidon~ eo d~ b~didiup. e~e . i~reqaired b~ tye Noei~ey aP*~7 depo~it• wit~ t~s Katp~s or la dadp?sced aemt an aaivmt ot mone~ pna] eo tbe betwao tbe oet_Prcaedr Of tb! I0~0 i~ t6! EObI ~ M dlttJ'1~0ld b7 tM KOfS~j!!~ K [!d m fOli~ O~pl~f ~1Jd OOO~t[OC't~00 I9 ~i0!! RIt` [O! pI~ ana .ped~icaeio~ ~aeeodo~s submitted b~ e6e 1So~yo~ ~nd ap~~~br ttis )r~ottp~ee. aaid amoonc ot mooe~ ~6alt be Pt~oed bp tbe " Mortpsee iA a"Lo~ in Procer Aaooua~" ta tLe n~me of t~s r~ aad t6e tamt ~6aU b~ wed b~ tbe 1~ortp~ee to pq tbe aow. ehar~e~ aod ezpm~n ineurced ia oonoeetion with aid aoo~roc~~ ~ior eo at e~ loao. It L~ortLer speed eb~t ia the e~mt .dd oomcruaion i~ aot tnll~ aempleted o0 or beloe~t ebt date ~at~ ia t6e ~,'~aro~a Loan or In etie e~ent that tLe wort o0 said aon~roaioo ahall oea~e betors fWl eampkeioa ~ad weh eeNadoo shdl oooeinw f~ a period~0) da or-if snb~antial oooduoow ~ pro~ras shatt soc be made in we6 000~0~00~ chea ~ad ia ~ny ~oeti s.ent tre aW a~te sam. P*iociPd ~ i~erat. mentiaa~d ia wid P~~7 ~4 ~d all mooia ~ecured bcreb~ ~hal! beoome due and parabk fore6~rit6 or t6ereataer a~e option oE ~aid lsortpyee: and to tbe e~eot of ax6 oa~adoo of work npoa sai~ ooo~troaion for a period a~ ua (10) da~ or i~ sa~taotiai oootinnow pro~res ~Sall oot bs made In suc6 aoortnx~w~. ~s a~oraajd. ttie ms~ at ta optlon eater into and apon t6e ~g premi~a and oompiete sdd aoa- str~ceioo in wc6 manner a~ ic deem~ sd.i.abk~ ..it .n~ i~faeo~e fian tbe Moreta~or; t6e saiII d lNO~rt~a~or bere~ d~ins aad p~ns to t~e Mort~ee toQ power aod authorit7 eo mate soeL mtrf iaeo aod npon ~aid mortp~d p*emi~e+. to eater into a~b coatrsea or ar- ran~d a. ~oa~ be oeoasan eo oaoPtae aid aoo~erua;oo~ .nd a e~end an~ mooia ranaiaiu~ in said "Lwnr in Prou~ Aooount" aod in additiao an~ sums of roooe~ neea~ar~ to aompleu said ooa~oetioo; and aa~ and all mooia ezpeaded b~ tLe Mocttasee in ooanation wic6 socti completion of coo~tr~tion in rsoas of t6e moaia in said "I.oanr in Proas Aooount" s6a11 be added eo t6e said prinapal debt aud a6aU dnw interat at tbe nte pravided ia said promiaor~ note, and sLdl be sccured b~ thi~ mort~ase. and ~hall be pa~abk b~ ttie Mortp~or ~ ~ooK149 ~.3~ - --:r _ - _ x"~ °.:4t