HomeMy WebLinkAbout1865 ~
f. 13ac to cAs svenc of a.uic bdns in~tieuted eo toreelas c6is ioort~a`e. tk ?te~ce ~?all bs enaUed w a
ppl~ u any time dutin~
~uch foralau~e ~uic to cAe ooan 4a~ias jurisdiedon t6e~~ fo~ t6e appoinuuesc oE a rocei•er of sll and sia~ulu che ma~ssed Prope~r. aad
cv oa
oE all reoa. ioeoa~a, ProC iswa and reveaua t6ercof. roa R6aaoe~c~ soura derired: and tlercupoo jt L bereby csprealy oo~eoaated
and a~re~d t?u tbe coon i fosc6witk appoint ~uc6 rcaivc~ with t6e wual poweo aad duda of reod~cn. in Gke casa; and uid ap~
poiaemeuc stiall b~ made b~ che oourt a~ a maaer of ~riec ri~e eo ere M rt~a~e~ wd nitbout cefeceoce eo ebe adequacr or Iuade9uaep of tie
~alue of tl~e proptrq ~s~r~dl os to t6e soheae~r or inal~encp o~ ~be MoKramr or an~ othe~ part~ dcfcad~ot to sucti tuit. 'The
~ rsreb~ spaificdlp wa~~a ~ e~isbt ~u obiat ~o t6e appoiatineot of s recei~c~ a. sfo~aaid aod 6enby up~ly ooouab thu wer '
a~
~t ~
i~~
de as w admittcd equFq aad a~ a msttcr of ab~olute ri~it te tbe More~ee apd t6at t6c same roay be doae wit6ow ~
~
i. 'Itiat if sn~ Proe~edio~s ~6ould be iadtuted ~pim~t t6e ProP~r4 oo.erod br ~t• mo~e upoo an~r aher lien or claim w6e~Aec t
•uperior oe uoior eo t6s Uea of this cbe Mortsasee auy u ia optioo iauoediaab upon imtic~ticn of wc~ ~uit or durio~ ebe pead- 3
~~alue tLis martpse and t~ie i ebtednp~ ~ecured bueb~ due aad p~able fonhwith snd mar at ib optiou proeeed ~o tocecio~e '
7. To par dl and sio=ulu ~6e oo~a~ tea~ ch}rta and upema ot e.cq tind. ind,~diu~ c6e oon of an ~bscaa of eicle w uid laods ~
fouod to be oon•eaieat or esped~eot Ia oonnectioo with:ao~ ~uit foz t6e loreclosure of tWs mo~a~e, and abo iocludias w6et6er tbe Mo~asee ;
u obligued to pa~ wne o~ aot. ra~onabk aceocner'r ~fea ioeurnd w~pended u anp eims b~ t6e
Moct~s~o~ tope o~m„ oanpV wich .nd abide b~ aU or aar of cbe oo.eawa~ ooodiaoos and ~i 1~~aid ws ot t5e failun of tbe
In tbe toreclwuro of t6is mo~t~e and in oollectin~ t6t amouot ~eeund Lereb~ w[t? o~ wit6out kN prooeedinP. aai to
bunc t Mo~t~a~ee for eveq pay~meat made or iacurnd for aop sac6 pucpo~e wit6 iotcceat from date of e~ery wcb pa~nnent u t6e nte oE
ad~ Pa (~'16) Per aaoam; audi paymeots and obllsuiooti witb iaterat tbereoo as aforaaid, shall be ~ecured b~ t~e uen 6ereof.
R To ~t~e balWins or butldIop taw or ~ereaftet ao said laad Iwuted assimt IoN oe doaa~e b~ fir~ eztmded oo~erase aod
ot~er perib, incl wu risk iwunnee if a~ailable~ in ~~'not las than t6dr tult imurable ~alue st the oat wd ~pense of the Mort-
~a~or ia a aompan~ w oompania appro~ed b~r t6e Mort~a~ t~e potic~ o~ polkia to be held br ebe Mor~c~, aad suc6 policy or polieia ot
imunoee a6a11 ha~re affued t6ereto a Standud New York M Clawe. makins all lota or loaes uoder suei poliep or a
t6e Mo~sgee ss ib iatecat may aPpeu. aod eo deli~er saidj ~ or polkia to t6e Mo P°~ W7~le to ~
meat of the peemium t~eerefor; sbd ia the e~au sn~ sum ofmone~ ~ whcn iau~d w~~b t6e recapts for ~Le pa7-
ebe optios eo c~ed~e and a tLe same oo sooount o~ t6e indebtednew ~~able under such policp or poGcia, t6e Mortsssee ~all ha~e '
c ed pplp secured Lerebr or oo permic t6e MortQagor to recei~e aod use it, or an~ ~
part t6ereof~ for other purpaes~ witiout tLe~eb~ wai~ia~ ot im~airint W~9ni4. liw or ngbt nnder or by tirtue of thi~ awct~ase; aod ~
che Mort~atee tf it dcem~ aeeeaaq mar ptaa aad pa~ for wc~ imu~saoe, or aay parc t6ereof, witbout losi wd . ,
tajee'~ option to to~cclae for be~eac6 of tbi~ oo~enao~. or W part tbercof. or anr ri t or °s' °1Ds o~ affaang Mort- i
mau ~6a11 bear iaterat fram date thereof uadl d u ttie nte of ~r
aforaaid ahal! be ~aw~ed by tbe 4en Dercof. I~e e~eat an~ lo~~d ~~(i ) pa aunum. aud sll snc6 pay~menb wic6 interac ~c
dama~e witlin fortY-ddt (~i) 6wia after the 6ap jt snffercd Mort~a~or t6aU ootif~ Mortsatce of we6 IoM or
gee shall 6rre tbe ri~6es herein si~ea for all defaulo.~~ ~~f~ tO prt suc6 notice s6all tooatitute a defauh and t6e Mottp-
9. To permit, oommtc or suffer oo wate and to maintain c6e tmpro.emena u aU tima in a aue of ~ood npair and oooditioo; aad
to do orpc
nnit oo be done to said premi~es not6in` thu wili aher or e6sn~s t!e we and c6a~seter of uid propertr or io anr wq impair or
weakea tLe seeuriq of wd mort~s~a In we of the refusal, ne~tact or inadjtiq of tbe Mort~agor to eepair and 1OilDtilp fild prope~tp. tbe
Mo~agce ruay. u iq op~oo~ malce suc6 repain or eawe the same to be made aad sd~soce monia ia t6at behalf w6ic6 wrns shall be securcd
br tbe liea 6ee~eof and bear interat at t6e rne of eisbt per unt (f96) per anaam.
10. To ddi~er t6e ab~traet-or ab~tnces of titk co~uio~ tbe mort~stsd Properqr to Mottsasce or its daiQnated ssent, ~v6icb shall at
all time~~ durio~ tbe life of t6ts mort~a~e, renain in tLe popas~on of tLe Mort~s~a and in nent of t6e fora{aure of thii- taortgage or aber }
aaiufcr ot citl~ all ri~ title and innreu of c6e Morc~os iu aad co auy ~nch ab.Kacc or ab~craas of a~k st~U ps~. ro thc purcbaser or '
aranm, i
il. T6u no wni~a of aarthe se~wred oblis~tion secured 6ereb~ s6all at aq~r time tiereatcer be I~eld to be a~.ai~er of
any of t6e otber te~ms 6ee~eof or of
1Z. T6at in o~ oo aaelerue tbe maturiq of the indebtednew hereb~ secored baau~e of tbe failnre of the Mort~or to pa~ anr as
~a~ma~t. uibitih. abliAtian o~ eneumb~aocr opon sdd propert~ as berein pro~ided„ It s6s11 aot be naa~ar~ oor rcquisice t6a[ e6e Mort~s
sbap Snt pa~ eLe same. .
i
13. Thu if tbc Mort~a~ sbsll fail~ ~ket oc cef~»e tor a paiod ef t6iet~ (30) daps fuU~r aad promptl~ ~o wr t6e amo~nb re- ~
quiecd co be paid b~ t6e noce bea6y ~e~wred or t6e ioccrat t6erein spatified or aar of tbe smm of moner ~rein nferred eo or bereb~ ~ ~
cnred. o~ otberwiie dul~. ~u117 and P~om 7 to paform. e~eeute. comyy wie~ and abide b ~
or ~tipuluiow of tW~ ~ 7~. every or an~ of t6e oo~cnaobr oonditiao~
~K~tr, ~ P~~n' oote 6ecebr secured ana/or t~e oomtcuaioo io~n a~eemeat. if mr. tbeq and iu dt6er or in
anr of soc6 erma~ wit6out ootioe a~ demand, tbe »id~re~c wm meotiooed in said promiwocp oote, la~ pre~ious pa~menu. if w~~ sod
an~ aad all suzm me~tiaoed tierein or secured hereby s6a11 bcoome due and pa~aWe foet6witb or tbenaiter at tbe oootin~iuaopt~on of tie
Mortp~ee a~ full~ and oompktd~ n if ~aid a~re~ace aum wee~e orisinall! sti utd to be paid at snc~ tin~ an~tLina ia said pr~or~
note or 6eran to t6e oonuaq aotwitLtandiu~ and the Mort~ssee stiall be tLerenpon or tbe~eafter withart aotiee or dm~and tu in-
sdt~e snit at law or in eqdt~_~o eufoeoe ttie ~i b of t6e Moetgagee 6erennder or under said pwmiaorr note. In the e~ca of aa~ ddauh
or braeb an t6e p:rt o~ t~e Mort~~or er or uoder said ~amis~orp notq tbc Morega~ee s6aU 6an the ooatinui
Pi7~nt of all sums s«ured hereb~ b~ aetian u Isw or b~ suit in eqn~r to foralae this mo~tga~e, at6er or botb~ ooneu~rrenci~
y~or ~at6e~rwi~
and one aaion or wit ~6a11 not abate or be a bu eo or wrunu of t~e M~s'a ri~t ~o imritute or maintain the otber. pro~idcd said Mort-
psee aLdl have only ooe paymenc and satisfacoa? of aid indebtednas.
14. 13at in tLc e~ent t6at Mort~a~o~ s6a11 (1) aoment oo t6e appoiodneat of a raa~er. tnutee or liquidator of all o~ a subtautial
put o~ Mortp~oe's aretr, or (Z) be +d'odieated a 6asEropt oe ~woheoR~ oe Sle a~oluntar~ peoitiaa in bantru
fnaaility 1o W Ib deba r t1ie~ 6~~+oase ~o~ or (3) make a~eneral~iNi~omeot ior eLe benetit o~ ceedi ~ or admit in wririns ~
~eddo~ nor~adsuioo orarran~emm
t wit6 eeedio~n, or eo take ~d ~'b or (4) ~ile s petitiob or aa~wa
caiai dl~p~ ot a peti~' ~iled s~sin~t ~br Mortp~or in aa ~ of an~ in~oheac~ law, or (S) Sk an awwa admittins t6e ma-
takea b~ ie Mortp~or tor tLe of effeeti an of tLel Pa7. ~r~anisatiao or iuaheac~ proteedin~ or aetion s6a11 be
pa~pae n~ r f~e~oin~ or 7) ao order jud~nent or deeree s6a11 be entered apoa an
spplieation of a ercdi~or a Mort~or b~ a ooort of oompeRent 'tirbdte~on sppro.in~ a petition sakir~ apponanment of s meirer or tsustee
of all or a snbstandd put of tLe Mort~a~or'a web and suc6 i~d~a~ or decree ~6aQ vontiune omt~yed aod in effeu ~or an~ period of
thirty (30) oowanti~e daM t6e Mo:t~aaee ma~ daclare the aou btreb~ sewrsd fort6wit6 doe tnd pa~sbt~ wheceupon tbe prinejpal of and
t6e inter~at socnud on tbe note and d aber ~mu 6crebr secured i6s11 beooa~e fort6witb dne and pa~abk as if all of t6e said sum~ of ~mnep
were oripnallx stipW~ted to be paid on soeb dar; and tlereupoo the Mor~s~ee withont notice or demand rm~ proiecute a suit at law and/or
ia equit~ a if all mooia ~ecoced ben6~ ~d munnd prior oo jb ImBtatioa. '
1S. T6at tbe Mortpyee or any pena~ authoeisad by ~e Mortsa~ee shdl 6a~e tk reQ6t to wter upou aad inapat tbe mort~ed
premises u all rea~owble dma.
l6. lbst an~ wm or a~um whic6 may be losned or ad.aaced by c6e M~ee ~o ~be Mor~a~or u an~ wne wi~hin tm (10) ~ean
fram t6e date of t6is iodmture, ~o~stha wid~ toterat t6ereoo u tbe rate a~reed npon u tLe time of soc6 Iwn or ad~aoce, s6alt be tqnall~ ~e-
cured wit6 aod La~e tbe ame prJorFty a~ tbe orepaal indebtednea aad be snbjea ~o all cbe terms and proriiiau of tbis uw*tP~: P~~.
~ nd~amamt~~ ~ pn~~ o~tstaudin~ u an~ time sball not esoced an amount eqoal to oae 6undred and fittp per eeat (1S09L) of
P~ P~ P~~1 ~7•
17. 13ay if required b~ Mo~ t6e satd l~tor~ wIq pa~ meo t~e ~to~ oo tbe firit d:r o~ eac6 and e?err c~oouc~ti•e
moctL~ a wm eqosl to ooo-twelitb of aouod aawont oeoewq to pa7r dt -d~a and ara~ment~ a~iasR tbe said mort~aged PremIsa. uid
monehlr smo co be admaced sotd~ b~ Mor~ga~ee aod ealenlued m be aa amam~ na lew eban t6e amoaa of eaza a•a.cd~o~ ,aid morc
Qa~ed Praaius for tbe pre~ioa~ tar. and if fnr:ber req~ired br Moregasee eo pa~ all imurance premimr in manne~ and form r pe~o~ided
herein for t6e pa~meot of. tun and aaa~meab.
1i. T4st in tbe e?au t6e lo~u wLich tLbmo~tp~s h~~ra to ~eenee i~ mads far tLe of finaadas eit~er
of new bdldinp or tbe oo~on of Lapeo?emena and/or sddidaw eo e~droia~ bdldlup. ti~s if
~tbe I~wn~and the o~l amoun ar
d~earminedor ta ~p~ued a~eeut an~amou~t of moae~ squal ts~~~~ecmes ~ t6e na yrooeed~
a br M~i•s~req na eo f~a~p ~.da ooo~n~oa io .ooora.nee .dti tbe p~an.
aad spedfieadom 6eretofors sabmteeed b~ tLs Mort~a~or aad s~ed by tbe Mo~ee. 8+iid ~moant of mooe~ ~6a11 be plroed b~ t6e +
Mort~a~ee in a"I.oaa~ ia Proar Aooount" in ths ne~ae of tLe ~~or~ and tbe woe ~11 bt wed b~ tbe Moetia~a ~o pa~ the oow„ ;
ebae~a and rspea~a ixurred tn ooooeetioo with ~aid aoouroe~~ ta C4du~of ehb loaa. Yt i~ fartber sFesd tbae Jn tbe e?eat '
wd oooscn~ceoa u na futy oompleted on or beion ttis date in d~e Loan~ or in t~e e?mc t6u tbe work oa 7
~aid aonsaoedon ~6a11 oaae before foll wmPletioo aod roc6 oas~on ~hall eoartinue for a period o~ tea (10) da or-i! tab~tandat aoadnoar .
pr~rru sLsil oot be mads in sneh eoo~traaroo, tbea aad in so~ iuei e~?ent tk wid a~re~C som. DrinciPal ~ iatenst. ruentioned in uid '
P*omisor7 oote. ~od W awoia acured hcnbli ~6a11 beoome dne and pa~sbk i~t6wit6 0~ t~ercafter at the option o~ said Mortp~ee: and is
tbs e.mt of ~ae6 awation of work n uid oomtn~tioo for a period of ten (10) da~s. or if w~taatial oootianous pro~res iall na be
made 1n suc` ooatruaioa, a aforaai~t6e Mortsyee ma~ u Ib optlm eaar tnto and npon the y prm~a and oomptete ~aid aon-
~r~edoo in a~ch manner u it deems adri~abk withoot w~ Ioterfereaee fevm trs l~mr; the add 1 o~~or sereb7 d~f md [~ai
to tbe Mortp~ce fnll power aad :atborit~ to make snc6 eatr~ iato ~od a,poo ~aid eaort~cd praon~scs. to eacer ioto wc6 oootnep or ar.
ran~rnena u mq be ueeasarp to oomplete uid ooo~troaioo. and es espeod sn~ mo4ia raaainins In aid "Loao~ in P~ Acoount' and
in addicioo any sums of mooep neoenarr to oomplete raid ooo~netSon; ~nd snr ~nd all mooia apeoded b~ t6e Mort~a~ee in ooonee8oo
witb sac6 oompletion of ooo~trnction in eseaa of t6e monia ia said "Lota~ in Prooer Aoooura" t6a11 be added ~o t6t uid prinapal de6t and
s6a11 dras interat at t6e rate pro~ided in taid pramiaor? note~ aad ~6s11 be seeured b~ t13~ s6ali be pa
~ t b~ t6e Mortia~or
ort Qemaaa. oOK ~
~ ~ _ - h • -