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Home My WebLink About1500 s t. ~ac is che erau oE a suit edn~ Io«icuced a foreelae t~ia ~ortp~ t~ ~e~asee ~hsll bs entitkd ~~ppyr u aay dme dudu~ •uc6 foraiaure suit ~o the ooiut hada~ juri~dieciau tlc~e ~f for ~De appwaaneac of a ~eca~er ef ~ll a4d du~ulu the uoort~ased propaR~. sa~ oE all reaa, iuoomq profib, uwa aad reveaup cheroof. from ~Aaaoe~er ~oura dai~cd; and tlsrtupon jt b 6e~~ e:preal~ coreaanted aad a~rsed t~at tb~ oourt shall to~hRit6 appoiat ~uch reairee with tht usual powen aad duaa ot reaifea. is lib caus; and ~sid sp- poiaaeme ~hall be ~wde by t6e oourt u a a?aaet of ~t~a ri~ht ~o tbe Mo ~nd ~tMut rcheeooc to t6e adM~x7 ~~e4~s of c6s •atue of the p~oparqr ~c~~~~r aact~a~ed~ o~ to tb~ wlvene~ or i~aol~eaq of or sq~ atbec psrq deEeadaat ~o sucb wit. T6e MonQa~on c~eeb speeif~ully w ~a c6e ~i~ht ~o obi~t ~o tbe appotatmeat oE ~ recei~s~ a~ aforaaid aod 6enby e:p~aal~ ooo~eab thu we? ~noci~ce~to ~ M I~o~~ de as an admitced cquiq aad as a muce~ of abwluce ~I~bc eo tbe Mott~e~ aad tbu tbe saa~e inap be doae without i. Tbat IE W Procadio,~s ~6ould be tmtituted apio~t t6e propettp oo~et~d 67 t6[~ mortsase upon sn oWec lia? or ciaim w'setiet ~uperjor or juaiot ~ t6s liea of th[s moet~a~ tbe Moct=a~e may u ia optioo i~uedlately upoo imdation ~wei suit or duda~ tit pead- eoc~ ~hcreoE dalue t6i~ raort~a~s and t~e iadebtedaa~ ~ecnred bereb~ due aod pyrabk tat6witl sad coay at ia opcioo p~o~esd eo foreelo~s tsis eao~t~aje. 7. To pay all ~nd lar t4s co~t~ fca, d~r~a aad ezpedn of eveq kiod, indndios tbe aat of an abtract oE titk ~o said laod~ found co be ooo.enimc or e:~pe~'eat jn oonnecoiao wttA.au~ suic for tbt foreelanre of ehL mo~sse, aod sLo includin~ wba6er tbe Nto~et i• obG~accd co pal ame oe oot~ cea~ooabk actorae~s ~fea ineurccd or ezpeaded u anr dme y t\e Mortp~ee exaws ot ebe tailure tie Mort=a~or eope rfomo. oaaPb wIt6 aod abide b~ aU or aox ot t6e oo~ewou. oouditioor aod ~tipulado~ oE aid Promirory aot4 or t~ia raoet~~ jn the foralasurs of ebis awret~e and io oollaa~ tLe a~oa~ot ~eeured 6ereb~ wit~ or without kpl prooeedinpr sad ts reia~- bune the Mo for evc4 Wrmeat ~nade or tncuned for aoy wc~ Purpo~e wit6 Interat from date of sver~ wc~ pa,~oent u t~e n~c o~t a[6t Pa eent per aooum: wci~ Pa7mena and obljtatiou~ wltb interat t6ereau as aforaald, thsll be ~ecured b~ the lien bectof. 1. Tb ~ t6e WdWins or butidtop oow or tiereafter on iaid laad inwred ajaia~t loM or damase b~ fire. ernndcd co~ers~e and oc6er perib, iact n~ wu ri~k ia~ursnee if a~ail~ble, io a~m ~ua la~ ~hao t6eir fuil imunble ~dne at tbe co~t aud apaae of t6e Mort- gago~ in s oanpanr or oompania appe~mred~ b~r tbe Mo~asa, t6e polie~ or poticia to be edd b~ tbe Moe~es~aad sueb polic~ or pdida oE ~nsuraacs sbsll bire affi:ed tbecc~o a S~udard Nsw Yort M ~a~te Clawe. makias alt lott or loue~ under s policy or potieia pa~able e~a the Mortgagee as ib iatc~at msr appcu, and e~ deli~er saidl pol'~ or polieia to t4e Mo whea iaued w~t6 tbe e~aeipb for tbepa 7 mcnt of t6e peemium tLe~rfoe; and in the erent aaT ~um of oone~ beeana pa~rsble unde~ s tLe optian eo ~d~e aad appy tLe aooouM of tbe i~ru~tedna~ sawred bercb or t~ or policia, the Mo~asee sball ha•e part t6ereof. for other purpata. vsi~ t~ereby wai~ins or ua aa ~ ~^~t the Mortsa~or to reai~e aod use i~ or ao~ cbe Mort~a~ee it ic dcem~ necena may pl~a~oe aod ~~~~OJ ~m4~ ~eo or rigbt nnder or b~ ~irtue of t6is mort~a~e• aod Qa~ce'sopuoo to foreclae for brea ~ o~ this oo~ ~r for aic6 unuraaee, or aq~r part tberaof= wttLont iainj. wai~rtn~ or affaun= ~ort- ment s6s11 bear interat feam date thereof nntil ~d at ttie nte ~~f~ or an~ n~bt or opdon wndee tbi~ mo~t~are, aad e~ery ~uc~ pa1~ w~ shR rer aot (t76) pa .,mu~e, ana d~ .ueh paymeoes ..ieL tnte~ae afonuid shail be ~ecured by tbe lim beaof. Ia t6e eaent an~ loM or dana~e ii snHered Mortsa~oc sLall notif~ Mo~qasee of sueb low or damage wit6in fortr-ei~it (4t) bwirs after t6e baprening thereof; t~e lailnre t~ si~e sue6 notice s6aU ooostitnte a defauh aod t6e Mortst- gee ~hall 6Y~e tbe' ng6b 6ereio ~i~en foe aU ddauld. 9. To pecmiy oommic or wffer oo wake and to maintain the improvements u aU tima iu a state of ~ood repair and ao4ditioo: snd ~o do orperm~ t to be doae to said premises ewthint t6at will alte~ or e6aose tLe ase wd e6araeter of ~sid pe~opatr or in anr wq impair or weaken tbe s~curitr of ~aid mott~a~a In case af t4e refunl, ne~kct or inabi4q~ of the Mort~a~or ~o cepa[r and mainaia said propertp. tbe by c~ 6er~aof and ~inCerat at ~e ~ ot d~ pa em~t per~anue ~ ad~ana mooia in cLat behalf w6ieh wms shatt be ~ecured 10. To ddi~er t6e ab~tact or abrtr~cb o! titk oo~erie~ tbe ~mt~a~d property to, Mort~ase~ or its dai~oated agent, ~•6ieb s6a11 at all ti~ du~og tLe life of tbis mort~a~c, nmaio in tbe poMauo~? of t6e Mo~aQee aad in e~reat of tbe fo~eclaure of tLis mortgaQc or a6er tramfer of title, aq riQbt, title aad iate~at of tbe Mortp~oc in and to anr wch ab~traet u~ abrtraeb of otk ~6ali p~w to tLe purcbaur or Qrantea l1. Tbat m wai~es of aa cora~ant 6erein or in t~e obli~ation ~ecnred 6ereb~ s6a1! at u~ time 4ereatter be 6eld eo be a~.ai~er of any of t6e at6er terms beroo! or ~ tLe note tecurcd bereb~. U. '1'~at in ocder to aoodente tLe matneitp o~ tLe indebtednea 6enb~ ~eeared becau~e of tk fdlnre of the Mortp~oe co psr anr tas aaweomt, liabilitl. obiigatian or encvmbrance-apoa ~aid p~opert~ ar 6ertin pro~ided, it i6~11 oot be neoerary nar requisite t6at tbe Mortp~ee s6a11 fint par tbe same. I3. T6at if t6e biort~or sLall fail, ne~lea or refwe ~oe s period of t~[rt~ (30) daps foUr and P~P~7 m W7 t6e amo~mb n~ quired oo be paid by the note ~e~eb~ seeured o~ t~e totuat therda speei8td ar ao~ of tbe sum~ aE monel berein referrtd to or bereb~r. ~a cured, or atLerwiu dnl~, full~ and pcom~d~ ~o perfoem. aaut~ eomp~ witti sad abide b~ eaeb. e~erp or an~ of tbe ao~enanby aoodjnoa~ or stipulatioos of tbin mortsa~e, tLe pe+oousar? oote bereby teeured s~dlot t6e eoo~tcuaion {oan sgeaneat. if an7. the4 aod iu dtDa or L anr of wc6 eveat~ witbo~u notia ~ demaad, tbe wda~tc wm mmoooed in said P~~4 1~ P~~ W7+~. if ~n~. aud anr and dl swn~ mentjoned 6eean or ~eeared 6ereb~ as6 1 beooaie doe aod pa,~aWe ~ortLwitS or tLenatter at t6e ooatinninaop~o~ of t~e Mor~a~ee as fulty and oomplad~ as if said ~qregue am~s were ertpnalts stipnlated eo be psid u sucD tim~ anytbing in sa?d pnm~oq note or baeia to tbe ooouar~ aotr~Ithsnudin~ and t6e Mort~ee shall be e~cled tberenpon or t~ereafat witbout aotiee or daaand ~o in- stitute snit at Isw~ of tbe~~ ttie ri of t6e Mort~agee ~erennder or nnder said prami~~ note. ~n the e~au of aa~ ddaoh or breaeb oo tbe er or under iaid promi~oqr noce. tLe Mo~qaree aLaU 6~e t~e ooarianint oprion eo eafocoe pa~mmt of aU sums ~e~wred 6ereb> > action at law or b~ snit is equ_it~ eo foceeiae t6is morep~e, dt6er ~ 6ot6. ooocurra~ty or othenroq and one aetion or wit s6at1 na abate or be s bar ~o or wdrer of tbe M~ee'a ri~t ~o in~titute or maintain tLe ot~e~, pra~ided said Mort- ~a~ee s6a11 6an only aoe pqmmt and atisfseeioa of aid indebtedoe~. 14. Tbat in tLe e~ent thu Mortfa~or tb~aq (1) ooo~ent ~n t6e appoinemeat o~ a reoei~~. tnstee or liquidator of all or a wb~taotiat ' InabiG 1~e ~s or (Z) be adJudie~~ed a 6aok~npt ~ iwolvaot~ or 8k a~o1~ac7 Peatim in bantrupte~. or admit in wsiriq~ iei . ~7 P+1 ib debq a~ tbej become due, or (i) mske a~mcral a~i;p~meaR ior tlie beoefit of aedicoes, or (4) Sk a petition or answa mkins no[~anizuian ~ arransement wh6 eredioon. or ~o uke ~d•aota`e of aa~ iaroha~ 4w. or (S) fik an amwer admitein~ d~e ma- cerial dleptiom of s petition filed s;siost the Moras~or io anr baakrnPte7. reor~aajsuioo 3~ p~ shalor (f) aetion sLall be taken b~ ttie Mort~or for tDe purpae of effeetin= an~ of tbe fon~oing, or aa order. t or deeice 1 be mcerad npoa aa applieuioo of a uedi~or or Mort~s~c b~r a oonrt of oompeee~ '»rndIcdoo aypro?ins a peti~oa sakins sppanemeat of a recd~er or trmeee ' oE al! or a~~bstaotial part of tLe Mort~a~os's sMets and sueh )~dp~ent or decree s6aU oootinoe no~ta and ia effea for a~ period oE chirt7 (30) eomceuti~e da tbe oen , yt? Mor~a~ee mq datare cle noee bersb~ secnred ~c6wid? dae aad ranb~w6ereapoo t6e prineipd of aal cbe interat aocroed an tbe aote and all aher sumr 6enbr ~ecured absll beoome fort?witb dae and papabk a~ if dl oE tLe said sumr of mooer were oripnalll tepnlated ea be psid an sueb da~; and t6eceupon tLe 1+Zortp~ee wit6ont noeice or danaod ma~ pe~oiecote a wit u lav~ and/or I ' in eq~dtT a if all awoie~ ~etured beeeb~ ~d matat+ed prfo~ eo ~ imdtuttoa. lS. ~st t6e Mortsasee or an~ peesoo autboriud b~ t`e Matsa~ee shall bm t6e ri~ht ro enter upon aod ia~pat tbe mostp~ed premiw st sll rea~ooabk time~ k 16. ~at aa s~ or s~ms wLk6 ma be loaned or ad~anoed b tbe i from t6e daee of t6is iadentnre, to~et6er wit6 i~otaa~t thteeon at the rate r ~~o t6e Mortta~or at an~ time within tea (10) yan asrad upoo u t6e time of wch {oan or ad~anoe, shail be equalty sa ;i cured wit6 aud 6ave tbe nme p:iorit~ sr the od~inal fadebtednew aad 6e s~~' tto sll t~e tsrms ~nd pro~siom of t6in mo+tt~: P*~~. that tLe a~epte ~noount of Pri~P~ ~oi at an~ time sbsll not e~oeed aa ~mount eqnal to ane 6~ndred aad Sfqr per omt (IS096) of c6e Pri~ipal amou~ oripnaly sanred herebJ. 1~. That~ t~ required b~ No~a. tbe said Mortp~o~ wiq pa~ mm tte lrtoct~ ao t~e Best da~ oE each and e~er~ ooo~ecati~e moatb, a ame~ 1 to ooe-twcihb of ~e amnd amoont neee~arp a pa~ dl -m~a ~od a~eeab ssaint tbe ~aid mor~aged Pre~sa. ~atd monthly sum ~o be estimated sold~ br Moet~ee aud ukulmd ~o be ao amame mt !er than t6e amoont o~ tnca awa~ed a~simt wd mort- Si8'~ Premiaa for t6e Prenioos Trar. aod ~f fartbv reqai~ed b~ Mortgatce to pq? d1 insuraoa premi~ms in manner aad form as p~o~ided nciEiR fGt t~t ptj@!~ Of. LtI~ R!!a ~ I~. 1'6u in tLe e~eot ths b~a w6ie6 d3~mott~p i~ ~ivea to ~eeore b made ~ t6e r~po~e ~ RoaocL~ eitbes tLe ooo~truedoa af new bnildiap or the oomdvetioo o~ Impeo~emeni~ aod/ot ~ddItiao~ ~o ~us buiWinp. t~ep 1Nof r~or~ ifreq~fted bj tLe Irlo~tp~, rzpres.lr a~ea co depo~ii• wh6 rbe Norepiee or !d dais .ane .n amoone ot wo~e~ equ.l a~e difEereoes betweeo tbe net y~ of tbe {wn and t6e mtal amouoy a~ determined br tM 1~ re nd /o inlb oompl~e aid ooa~esuedoa ia aooordanoe witi t~t plam and spaeificstiaos baetoiore so6m~md bp tbe Morep~or aad pp~M ~Le MortpAe, Satd ~mooat of mooey s6a11 be plaoed b~ the Mort~ee In a"Loaa~ in Peooe~ AooOUnt" Iu tbe name of t6e aD~Io~or~ and tLe nme ~6a11 bt a~ed b~ tLt I~ortp~ee to pq t6e aatb c6ar~ wd apea~a inenr~ed in ooouectioa witL aid ooo~era iufon pefor to `~~~onof t6b loao. It b fartber s~eed tbat fa tLe e?mt •aid ono~tre~etion u uot fn11~ eamPkted on or beion tbs date ~ated in e~e Loan Ap~eanent a in t~e r?eat t6ac t6e w~ork oa said ooownaioa ~6ari aase befae fnlt oom~ietfou ~ud ~neh aweioo ~6ap ooodoae tor a period ef uo (10) da orif wbtaadal oondnaow ~ P*os*~ shaii oot be made In u~eL ooatn~aion. t6eo sod in a~ aoeb ertat t~e atd aqrepte ~om. prineiWl ~ i~tera~ mmtioo~d in ~aid Promisorf not~ aad dl wooia ~ecnred bersb~r~ ~6al1 beoome ~ae sod pa~able foethwitL or ttieraka a tLe opeion ot said Mortp~ee; and ia ' the tvent of we6 aewtioo of work upoa uid oowtroet~oo i~x a petiod aE ceo (10) dar, ot If sa~t~id cootinoom pro~res ~ball aot bt ! made to ~ucL ooo~trnctioo, as sforaai4 tbe Mort~~ee ma~ u Ib opefon eater into and apon tbe premtses and oomplae u~d aon- ' arocdoo in w~c6 maaner n it dams ad.Labk wittiwut aoy inte~Eereoee troat t~s 1Ro~ep~; tbe ~ai~ Q~ort~or baeb7 d~i ~oi 0o tbe Mort~a~a fali power and aatboriry ao ~ate soe~ a~ iab and opoo said mottisnd to enter toto soc6 oootnas ot u- ran~vnmb as ma~ be neoa~aq to oaapiae ~aid aoatruetioa~ snd to espead a~r mooia r~aioi ~o aid "Lwoa 1n Proeat A~oooaat" ~od ~n additioo ~n~ sums o~ mooe~ neaaarr to oanptae aid ooatrncdon: and an~ aod dl moola ezpended b~ tLa Mo~tsasee ia oonoectioo werb snci oompktioo o! ooo~tr~ecion ia es~oas of the moaia io ~aid "I.wns in Pcoeer Aooonat" ~Dall be added b the »id priseipal debt and a6ai1 dnw interat at tbe rate pro~ided in said prami~wr~ note, ~nd ~haU be secnrod b~ t6is mortp~e, ~od ~halt be payabk b~ ttie Hortp~er ~ ° R 155 ~98 BOOK ~ - • ~ .~s,..~: ~ - -