HomeMy WebLinkAbout0642 f. 'Y1~u sa tbs ereat of s sYit ~ia~ iasacuKd a foctcMcie t!b morts~, t?e ~ase~ ~lali Oc eaitkd w apr1~ at acp rime dur:os i
~ucA forccbsute suit to tF.c cuutt havia ~u~isdiaao ~b~re~f fo~ ~kc appoioca~ea~ ~t ~ rnrn~a of all aod sia~vtar ~~c moresased prepea~. aad
t
of all ttnn. iaoo~aa, profics. ~ssues crreuaa t?rnaf. ltoot ~biqoertt wuree derired j aad tl?etcupoa it is ~t~eeY eipreal~ coreaaoatd
~ad ~qcred t3a iLe courc thall Ean?:.itle sepant such .sreive~ wii! che uwal po~cca sad dutia of eeceiven. io li~e c~sa~ a4d asid a~-
pwnc-.ncnt slsll !~e saade bX iie court as t ~nana ot ucict riC~t co t~s 1?tor:~ aud wie~ow trhreooe a ws ,~.t~wcy or insde~uar~ oE t!s
r~l~x oE tht proptc~j? httebj doct~a~ed, ot te tht sol~tacy' or insol~caer of ~ e 1?lonsa~ a a.sy ot6cc ps~ d~fsndwt oe suc~ wi~ Tb
MonqaRo~ heceD7 ~paiFicallr ~aiva ~~e ris6t to object eo t6e sppdnaaeat of a receirer o do~eaaid aod ?e:eby c:prc~ly ooiaeoe~ tA~t auci
appointmeat sAali be madr ss aa adaiitteA equitr ar?d as a maner oE adsoluce riel~t to cl~e Mortaa~cs sod thai the wne may bc 8oae ~.ic?oW
cxKic~ co tke Mort~a~. -
'l~u it any proeadia~s ~Lould bc iwtituted apia~t t6e propccqr oo~ercd by t6i~ mo~sse upoo aa~ oc6er tiea or claim wre~Dee
~upcrioc or juaio~ o~ the lien ot thi~~~~ t~e ~tonsssa ~y u ib optioa irua~ediatclr upoo inuituaoo of sucb suit o~ durio~ t6e pend-
cacy tlerecf dala~e this rswrtYase and t~e indebttdaess ucu~ed be~eb~ due sud payabk fottewitb and tna~ at its optioo pcoceed eo toroelo~t
chis are~csaga
To par a11 aad siagular t4e cou~ fen, c6ar~es aad e:{xosa of eveq kiod, ~Indudiag the oo~t of an aDu~act of ptk to said laad~
fouad to be coorcaient or espr3ieat in conneaion Kith.aoy suit far che for«losurc o! thi~ mo~a~ aod al~o iocludin~ wbet6e~ tbe I~~
is obli~atc~ ~o par same ot aot. ~euonable attorae~s fea iucuned x upeaded ac .uy ciauc by cbe Moc~s~e bacswe of e~e~ failure t6e
Mo~a~or co perforia. canplr wit6 and abide bT a!! or ao~ of tbt c~oreaaats~ coodidom aad sdpulati:as of ~aid promi~w~ aote, er ebit
morc~a~ ia the fomlmure of this moct~age aad ia collatia~ c6e a~aount aecurcd 6ereby wit6 or witbo~ct k~al prooeedin~~ aod to reim•
bune t6e I~lortQage~e for evety paymeat made or iacurred iot anr s~:_h ~utpose witA intcrat from date ~ snerp wcL paymcnt at tbe nte of
e;~bt per cent (iRr) per wnum; suc6 paynxou and obliptiaa~, with ioterat t6enoa a~ aforesaid, s6at1 be sxured b~ t~s 4en 6ereof.
f. To tc tbe bwidint o~ buiidinp now or hereshe~ oa uid laad insured aeaimt b~s o~ dua~e b~ fice. emnded eo~ers~rr wd ~
rs
oehec perib. ioclu '~g war risk inwcanee if a~ailable. ia a pwn ~oot lesa chao t6ei~ fall i~urable ~atue u tbt eat wd espease of the Mort-
gagar ~n a cnropany o~ canp~ia approved by tbe Mortgsaeq tbe polie7 ee policia to be bdd b~ tbe l~Ro~a~e~aad suc~ pot~ o~ poliaa of
imu~aace shall 6a~e affi:cd thento a Staadab Ne~ York Mortgsgee Clause, making all loas or loasa uoder s Folis~ or policia parable p
che Moctgagee s its iaterest may sppcar~ wd ~o deli•e~ said pol~ or polic;a co ~Ae Monasace wbeo iswed wu6 e6e rerapts fo~ t6e paY-
ment of t6e presnium e6erefor; snd in t6e event anY sum of moaer becana psyable uader sucb poGcr or policia. the Mortgasee ~6a11 ha~e
t6e optian to recei+e aod appl~ cbe same m acoount of t6e indebtednes secured Se~eby or to pernut tbe Moctgsg~or to rcceire :ad we ;y or any
part tl+ercof~ for otber purRasea~ ~sicl~out tsereey waivia~ or im?airins an~ equi~. lieo or og6t under o~ b7 virt.se of t6is mat~age; wd
the Mortgsgee if it dsears Aeassary ma~ placs aad pay for areh ~nsurance, or any part t6ereof~ witbout Iasing„ wai~ina or affatin~ Moct-
gagee's optwa eo foreclwe fo~ bnach of t6ia ooveeaaq o~ aar psrt t6ereof, or ~ny ogbt or opeion uader this urortgsae~ and e~ery ~uch 3+a~-
ment shall bear iaterat ftom date thcnof until paid at t6e nte of eigLt per unt (t%) per annwq and all ~uc6 paymeab witl ioterat a:
aforesaid shall be sauced by t6e lien hereof, In the e~eat any kss or damage is suffered !.lortaagor s~aU ootit~ Mortsa~a of suc5 lou o~
damage within forty-eigbt (1i) laura after tbe 6appenin~ thereof ; tLe failure to gi~e soe6 ootice s6a11 cooatitute a defauk and t6e Mo~a-
gee s~all 6ave tLe righb herein given foe sll dsfaulb,
9. To pe~miq aom~nit or wffer oo waste u?d to maintain t6e impro~ements at dl tima io a stue of ~ood npair and oo~,dirion; and
co do o~pc rmit to be done to said premisa aothing tLat will alter or cbsnge tbe ~se and chacaaee of uid prope~ or in an~ w~ unpair er
vieaken the secutity of uld awrtgage. In case of the refwsl. neglect or inabilitT of tLe Mo~tgago~ to repair aod ma,ntain said pr~pertp. tbe
Mortgagcs ~nay. u its opftoo. maEe s~xh re~irs or eause tLe same to be wade and :d~aace monia ia tLst bebslf w6ic6 wms ahall be saurcd
b? cbe lien 6ereof aod beu inteceu at tbe rue af ag6t pec cent (!96) per anaum.
10. To deli~e~ che aburact or abscraets of title oo~erine t6e mortgaged pmperty w Mortgaeee o~ ~in designated sgent, .s6icb .6a11 at
all cima, during t6e life of this mortga,~ remain in the poaasioo of t6e Mo~agee snd io e~ent of cAe fonrcbsuoe of t6is mongage or aber
tr:wfer of titlq :!1 righti title and interat of the Mwt~a~yor ia and to aoy such abst~sct or abatrsas of titk shaU pass to tl~e purchaser ot
grarttee. -
Il. T6at ao wai~er of any t+nvwant 6e~ein or in t6e obliguion secaad 6ereb~ sha11 ~t an~ time 6creafter be 6eld to be a«ai~er ot
any of the otLer terms herrof or of tl.a aote securcd herebt.
12. That in order ~c? ~ncdente tbe macuric~ oE tLe indcbcedna~ 6ereb~ .ec~,tid because of r~e f~lure of ~e Mo~eg.gor co pay ani cu
assess~ment, liab;lit7?. obligatia~ or eacumbrance upou said propert~ a~ 6crdn pro~idcd~ it shall oa be neceasar~ aor rcquisite that tbe Mortea~ee
ehall 6ru par t6e sarpe.
li. T6at if [~e Mongago~ sLall fai1, ne~lccc or refwe for a puiod of tt~irtf {30) days fallr and ycomptl~ to Par tLe amo~mts re-
quircd co be paid br ~De nae bere~,~ sccured or tbe interat tLerein speciRed or aa~ of tLe ~ums of mooep Lereia ceferrcd to or baeb~ ~e-
cured. or ot6e~vrite dulr. ~11~ and promQtlr to perfor~a, e~cut~ eanpl~ witL and abide by_ eacb, e~ery or any of t6e ao~eoaab~ oonditiao~
or stipulations of this mortga~ t6e pnornusors ooce hercb~ socund aadfor tbe ooo~truetioa ban agreemeay if anr. theq and in d~Ler or iu
any o~ such ecrna. witbout aotiee or dmand. the said aggregate sum mentioned ia uid promiswqr oote. lea prer'aus parmeats, if an~. aed
any and all sums meationed herein or saured 6erebr a6a11 becane due aad parable fo~wic6 or tbereaher at tbe oontiauingapt~on of t~e
1?iorttagee as fully aad oanpletdy as if said a~gregate swm wece originallf sti~ulued to be paid at s~ a~e. aapt6iag in said _~timiwoq
note or heccia to tbe aontraq aotwithsandin& and t6e Mortgagee s6a11 be enbtled t6ereupoa or t6ereafter without aotice or demand to ia-
stimtc sat at la+r or intq uity to mforte tbe rigba of tbe Mo~tgagee 4ereunder or under said pro.~nissor~ nota Ia the r~ent of ae~ ddauh
or breacb an t6e part of t6e Mortga~r 6etcaoder or noda ssid pramiaoq note. tLe Mortgagce shall 6a~e 1L! O011t111WRg optiua to mforoe
papmeat of all surm s~cured hereb~ br ~aion u!aw or b~ suit ineq~u~ ta lornlae tbis mor~ either or botb, ooocurrrntly or otherwine,
and one actioo o~ wit s6aU na abate or be a bu o0 or wairer of tbe biortgagce't f1~t t0 1Q3titUt! Of RltiptLO tLC Otbtf. pro~ided said Mort-
gagee sha11 La~e only one parment and satisfaction of said iodebtednew.
14. 'I'hat in the evmt tbat Mo r a6a11 (1) oomeot to t6e appoiannent of a recavtr. truuee or Uqeud:tor of :11 or a subnntial
put of Mor~a aset~y or (2) be ad'~ a b~nkropt or imoheny ~ file a~olmtar~ petition in bmkruptcp. or admit in wridn= ie~
inabilit~ to pa~ ib debb as t6e~r baome ~ae. or (3) wtke a~menl apigomeat tor tbe benefit of aedito~s~ o~ fik s petition or amwa
•eelcin~ reotgaaiution os amngonent with crediton, or to take sdra~sge of any imol?eat~ law. or (S) file an answer admitting tbe ms-
terial allegauooa of a petidon Sled aaainsc che MorcBa~rn in any bantrupeer. reorgauiutiou or intohwc~ Proceediog, or action sball 6e
cakeo bp ttie Mortgagor fo~ the purpase of effaan~ an~ of t6e foregaog or (7) any order. jodQrneot ar detrte sLa11 be enteted upoo ao
appl;cuion of a creditor or Mortgagor br a court of oompetmt jarisdictioa apprmrins a pedtion ~eekins appoinaneut of a recei~er or crustee
of all or a wbstantial piK of the Monpgor's as~ets and sac6 orda. judgment or daree sLall aootinne ~mtarad and ia effect for an~ period of
thirtr (JOj eoRnecvdve dayr, tLe Mortgagee ma~ declare t6e noa bereb~ secured forchwitL dae and palrable, wbiereupon the pdnci~l of and
che iuterat soeroed on the note and atl a6er s~ms 6erebt aaured s6a11 beoorne ior~wit~ dr.e aed paJabk ~a if a11 of c6e said suros of mooef
were ori~inally ~tipulued to bt paid on soc6 da~; and thereupon t4e Mort~ee wit6ovt aotiee or demsnd msy proiccute a tvit at law_ and/or
in equits as if al! mooia ~aured bereb~ 6ad a~atured ~riot ~o its ~tutiao.
1S. lbat tbe Mortgagee or any persoo autborized br t6e Mort~ee a6a11 6ave tLe right ~o enter apoo and impe+~ tbe mort~ased
premisp at dl teatonable tima.
16. Tbat ao~ smn or sums w6ic6 mar be loaned o~ advaaad br d,e Mo~~.~ee eo cbe More~a~or u anr cime wic6i,. an ( lo) yur.
fran tbe dat~e of tbis indmture, to~etba witb Qnterat thaeoa u tbe rue agned upon at the time of soeb loan or sd~~nce. shall be eqwllr ~c-
wred wit6 and 6a~e the sa~me prloritT ~s tLe ori~inal iadebtednea aad be ~ub'at to sll t6e term~ Rad pra~isiaa of this mor~t~aie: Prmided.
chat che a~re~ate amou~ of priacipal oimcandIns u ao~ ame sbaU not ~ aa aaaune eqaal to ooe 6w~dred and Sfty pcr ceac (IS09fr) of
t6e prinelpal amoswt orlslndy sceored bereb~.
f7. Tbay if reqnired b~ Mort~ee, ths said Mott~os will ya~ tmoo tbe Mortp~te, on t6e fint dq of tae6 and e~er~ oo~cutire
mont6. a wmcq
ual to ooe-twelftb of tLe u~and amouat nawac~ eo par dl -tasa aod ~sc~menb a~atmt the said mort~a6'ed PrdaIsn. uid
ca ama~
moatbty sum to be acimated solel~ b~ Mo and cakutued to be an amam~ na lea t6aa tLe smoant of ta~s awaada~u~t said more-
B~~ Prnnues for tbe pce?iow Yar. and ~ fnrtber reqwred b~ Mortgajee to pa~ all in~nranee ptemiw» io manxr and form r prorided
heran for t6e psTment of. taw ~ad ~
i!. Zbat in tLe e~eat t6e loan w6ic6 t1i~mott~p b sl~m to ~aene~t I~ mtde fot t~e a~ Snaoeln~ ettba tbt oo~eruatfoo
of oewr bultdjnp or ebt oomtevedon ot i:nyra~easenu ~nd/or ~ddidoo~ ~~do~ bdldln~. ebep 1~~ i~ n d b~ the ldoet~apt,
expreay asrea to depodi• Mtb tbe Nortp~ee or la d p~aced aseat au ~monne of moue~ pnal b tht fhnooe t6s nec peoc~
of e6e ioaa ~ad t6s totsl ima~ey m determined b~ tb~p~Llort~sseR a drrd ta fn!y oomp{~a aW aoo~evedoa ta ~ooordaoce wIt6 tLe plaa
and ~pcdScstions 6eretofore ~nbm3tt~d the p ~ b ~ aoo eve oa
b7 ~d ~D ~ 7 Mmt~spe. 8vd ~monat of mo~ef s~dl be plaad 6~ t6e
Mon~a~ee ie s`Z,oaar tn Procer Aoooa~" in t6e name aE c6s M~tp~or, wd tbt wne ~11 b~ me~d b~ t~e Mortsa~e eo pay t'x oorb,
ehar~a ~ad apen~ ineurred tn oooaeedon witD aid ooo~troc~N pdor eo dl~b~o~ t~ ioia. It b fuetbee ~Qeed t6at in tbe e~cnt
.aid aonaruaioo u not fall~ tampletcd on or be~on tbt date ~ed (n t6s Loaa ~r~aent or ia t~e e~ent tba tbe w~! an
•~fd aon~troaiaa ~6:11 cwe before ful! eow~lsdoo wd weL oewtioo ~Lall ooodnue tor a periodAoE un (10) da oe•if ~nb~aa8a1 oontiauow
ProQres~ a6a11 not be made In ~ucL ooatn~awo, thm and in anf ~neb enot t~e qid a~re~ate ~um, prindpal ~ iaterest~ mentioncd in said
promi~oqr note~ ~ad ail monia ~ecund herebr. rLall beao~e due s.od pa~abk fort6a~itL or titreafter u tbe option of ~aId Mort~: u~d Io
the e~ent of suc6 oa~adon of work u ~aid oo~truetion for ~ period of tea (10) dar. or if w~tantisl oontinoow Pro~ces ~6a11 not be _
made in ~acL oonscructioo. as aforeui~t~e Mon~ee ooa~ st iu opttan enur into +~nd upon the mortgs~ed Prcnise~ and complae ~aid cm-
rcruettoo io wch maaner a~ it danu ad~iuble witbout w~ interEereace fcom tbe Mort~a~c: tbe uid Moresa~?r kereb7 ~,`~int ~ i~aoi
to tbe Mortea~ce full ~ower and autlaritp a mate sntti aur~ [aro aad npou said mort~a~ed praniscs~ to eater into wcb euntraas or u-
rangen~mb as ma~ be aeoes~ary to oanpkte said oon~truetioq aad to e:pend an~ moaia raaaiaw~ in aid "I.oans in Prous. Aooowa" and
in additioa an~ sanas of money naes~ar~ to oanplete ~~Id aoo~trnction; and ao~ aod all monia apended br tLe Mortsa6ee in oonoe~ao
with :ueh canplecion of ooostruaioo in e~ess of c6e mo4ia in said "I,osm ia Proas AooouaP' s6a11 be added w tLe said priac;pa! debt and
ihaq driw interat ~t the nte prorided in uid promiaor~ note, aud ~bdl be setored b~ t6a mat~a~ and shall be pa~abk b~ t6e Mortp~or
on Qemand.
40~ ~~V
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