HomeMy WebLinkAbout2234 s ;
f. 'I'bu in t?s ereoc oE • sujt beia~ iowaced a toraclae eLi~ ~oo~cp~e, tb ~de~a~ee sia: bs sati~lea ce ap~br ac aqy Kwe duriot i
•ucb fo~ecbsun suit ro t6c oou~t 6avin~ jusisdictioa tre~e
~f for tbc appoinaneot of a roa~~a of dl aGd aio~ulu tAe ao~ti+~ P~U'~ aea
of sll rena. inc~me~, poofia. i~wa and nveuua chercof. [coa~ w~haaoe~a aurce dsri~ed; snd c?c~eupon ~t b Scnb~ esprealy ao~ewucd
aad s~rccd c~at t6e ooun ahall EortAwi~Y ~ppaat ~ud+ recsiver wi~? t6s usual powas aod duaa of reoei~en. ia like asa; sa~i ~sid ap.
poincaeat ~Lall be made bj the aourt as s m~atr of sttiet ri~t ro tbe Mo~ aad ~+it6out rsfs~eoa eo tre ~?dequaq ot inadeQwq of t4~
•atue of t6e propect~ berebi iuo w co che sohcsu~ or ia~ol•cocr oE onppt or aq~ at6er defeadaiu co tucY ~ui~ T4e
Morc~aDor 6e~eb specificdiy wa~va t uT paec~
~ a objea ca c?e appoiua~ne of ~ re~cs~rrsr e aEo:aaid aad bener uv~r ooo~,,d c~u we?
appoiatmeat shal~ be ~aade as an admiacd equiq aad a~ a d?aaer of ab~olua ri~t eo tAe
notioe to ~e Mortp~t. ~K~ aad tbat cre ~ame m~r bc doa~ wic6out
6. 1~at if anr proceedio~a ~hoald be tnuitated ~aiwt che P~'oPe~tp oo~e~ed b7 tbfi moetta~e upon as~ ahe~ 4ea or claim w~et?er
~uperior or junins to tLs Gea of tbis tbe Mo~tsa~e aw u its opcioa im~nediatet? opou idatudaa of wcs suit or du~ tM peod•
eoc~ t6e~eof dalue t6i~ mort~a~e aad tbe i ebtedna~ aecured ?ereb~ due and pqsble forthwit6 ucd ioq at Ies optio~ ptoc~cd ~o Zocec(ae
this nwrtsage.
7. To pay att aad uagutu t6e c~oKa. fea. e~ar~es aad esPee~a o~ rM~ kiod. IndudJna tbe oat of ia sbaract ot titk to said land~
found to be oonvenient o~ e:pedieot ia oo~?neetion wit6:ae~ swt for tLe fonciaurt of thi~ ~ and ~iso indudin~ wrctber t6e b1o~~s
ia obGQaced co pay ~ame or aoti reasonable att~neys fea ipcurred ot c~cpeaded u an7 woe 7 tae Mortsa~ee eeause of t~e hilurs t4
Mort~agur tope sforw. oanply ..itb and abids b~ dl o~ aar of tbe ao•eoaaq, coudieioos and ~tipulaciom ot ~aid pe~o~niraqr aoa, o~ thia
mort~a~e~ in t6e fomlaaure of thi: awct~s~e aud ta oollatin~ t6e smouot ~ecured bc~eb~ wit6 0~ wit6out kpl prooecdiopr aod ~o tciat-
burae c6e Morc~s~ce for erery pa~ment ~de or iacarred for an~ wch ~urpose rrlt~ interpt f~om date o~ s~eq wch pa~noent u tbe nte o~
ut~ P~ (t9i) per ~nnmo; suck parmena and oblisatian~„ wit~ wterat tLcraos a~ afonsaid. ~6a11 be ~etnerd by t?e lien Leccof.
To keep tbe b~didin~ or buildinp now or bereafter m said laad iwured assiast lor oe daiaa`e br Sre, erteoded oo~esasc and
oc6er perib, includios wu risk inwnnee iE a~ailable. in a~ws 'not las t6an t6d~ 6e11 i~urabk ~alne ~ t~e oo~t aed e~ae of tre Mort_
!~8'~r ia a oanpany or oompania appro~ed b t6e Mort~agee, ~e policl or polieia to be 4eld br t6e Mc and sucr policr or polieia of
insurance s6all ha~e affised t6ento a Sanda~New York Mon~sgee Clau~ makia~ atl to~ o~ lossa uadu s polie~ or poficia payabk b
che Mo~egagce as ib iaterat map appear, and to delirer taid polie~ or policia ~o tbe Mortaagce wlkn is~ued wuh t6e recape~ for the pap-
mrnt of the premium tbecefor; aad ia the e~eat an~ sum of ~ae~r beooma pa~able unda such polic~ or policia, the Moctaasee ~6a11 bave
the option ~o raeive and appfr the same oo sooaunt of t6e isdebtMnew seeured bercby or to permit tbe Mortgsaos to recei~e and use iy ot aa~
put t6ereof. for other pucpoees, vsitlaut t6cnby wai~in~ or irn~airias an7 ~V~b. Gm or ri~ uodn o~ by ~irtue of t6is mortpae; aod
cke Morc~sgee if ic de~s nece,saq mar plaa and pa~ for n,eh imuraoe~ or an~ part t6ereo . wit6out laioa. w+tivi
oa o~ affaac~ Mort-
gagcc's optiaa to forecbe for bceac6 of t6ia coveaaot. or an~ part tLereof, or an~ n~ht a~ opaon uade~ this mo~aae, and t~eryr such Pap-
ment sball bear iaterat from date t6ereof until paid at tbe rate of dgbt per amt (!96) per amwq aud a[I roe6 paywenp with intereit as
aforaaid shail be aecuerd b~ t6e 6ea Lereof. In r6e r~e~ an~ lo~e or dams~s L snffcred Moct~aror shaU aotifj Mo~a~ce of nK6 loa or
damage withia forty-cig~t (4f) 6oun after the 6appeoiag t6eraof; tLe tailure to ~i~e suc6 ootice shall coo~dtote a defauh and tbe Mortp-
gce ahail ha~e t6e tighes hcrein ~i~ea for all defauib.
9. To permt~ oommit or wffer oo wbte and to maintain the impra+anents u all tima in a stue of ~od repair and cooditiao: aad
ca do orpe
rmit so be done to said premises nothins that wi11 ahtr or chante t6e n~e wd c6aracta of taid prope~tp or In anp way impair or -
wcaken t6e sceurity of said mortgaQe. Io we of the refu~al~ ne~lat or inabiti of t6e Mo
b rt6a~or to cepa~~ and maiataia said proMrtr. t6c
Mort~agre au~, u ib opf'roo. mske soch rrpairs or cawe tbe samc to be made and ad~ance mooia ja t6at behalf wLicl~ wms shali be secured
by the tim hereof and beu iaterat ac c6e rate of ei~t per cent (i9G) per annnm.
10. To deG~er the aburact or a6straas of tide oo~erin~ tbe mort~ed propertp to Mo~a~ee or its dai~uatcd sgent~ ~rhich s6a11 at
all dme~, duriog t6c [ife of this aw~a~ remain in tte poamion ot the bto~a~ce aad in ncnc ~ t~e ~1~~ a¢ ~~n~ ~ a~ -
cramfer of titl~ all ri~by titk aad ;ncerac of ~Le Morcp~or in and ~o aor wch ab,cracc ar ,bscr,w of 6ck ,b,U pa,. co ~be p~,rcb„K or
Lrantea
11. T6u oo ~r~i~er of any co~enant berein or in ~Le oblipdoa ~ecvred 6ereb~ s6aI1 u ao~ timc 6ereafter 6e beld [o se a aai~er o!
any of tbe otLer terms I~treof w of tbe note secused berebj.
tt TLat in orda ~o aoeelerate tbe a~storit~ of tbe indebtedaes 6aeb~ ~aurcd basuse of ttie hilnre of t6e bl.~r co p~r an~ az
a~nu. liabilit~. obligatian or encumbranee npou said p:opat~ as ticcein pro~idcd. It ahW na be oeowar~ aor reqwaice t c[6e Mort~sses
shall first pay t6e ssme.
13. T6u if tLe DRort~s~ a6a11 fai~, ne~fat ot rtfwt tor a period of thirtr (30) dap follp and pramP~7 ~ Wr t6e amounts rc-
quired to be paid br tbe note bctebr ~eeured o~ tbe ioterat tLerein speeified ot aa~ of tbe smm~ of moac~ 6etein referrcd to o~ 6ereb~ ~
cured~ or ahe~wise dulr. fall~ and p~om~tly to PerEo~a. e~cut4 oom wia and abide br each, ererr or anr of che oo•snane,~ ooc3i~iaw
or sdpuluiow of this mo:t~ag~ t6e Pe~omuwr7 oote 6aeb7 sa~ared ~or t~e aomtnxtion ban agcemcat, if anr. tbea. and in eit6cr or in
anr of ructi erwa~ witba~t no~.ice or demand, the uid ag~regate sms meneooed in said
anr and ali sums mentionad ba+an or seeurea 6ersb shalt beaame doe and P~7 °O~• 1~ P~~ W7~. if au~. and
Mo as full and oan letd~ as if ~d ~ Ps7able forthwid~ ~ tbereaher at cbe ao~innin~ option of t4
*W~ f P wms wae ori~iwllY sri~ulued to be paid u sne6 ame. aopt6ing in said
aoce or hecein to the aootnr7 mtwit~nn~in~. aad the b[ort~a~ec s6ati be enatl~d t~ereupon or tbereafter witbout notice or d
~
stitute wit ~t law or in~q mt~ to enforee~ then~bb of tbe Mort6agee :~ereunder or aader said promis~oq mta In t!e e~ent of ae~ d~sult
or bresch oo tbe part of the Mort~r 6ereander o~ under ~aid
P~~7 ~6e Mortgsaee s6al! 6a~e the uoatinnias op~ion w enforoe
pa~ment of alt suans saurcd 6errbj_b~ sction u law or b~ snit ineqm~r m foreclwe tLis ooortgase. at5er or botb~ oootnrrenti~ or otserwi~
and one action or wit s6a11 noc abate or be a bu to or wai~er of t6e M~eds rig~t ~o imtitute or maioain t~e aba~ pro~ided said ~ort-
e;eK abatt ba.e onty one pa~menc and .acafsuion of »id ;nd~badnn~
14. That in tbe e~eat t6at Mo~ar ~Lall (1) ooo~eat eo t6e appoiouamt af a reoei~er, mdae or liquidator of all or a substastial
~arc o~ Mortjs~oe'~ aueb, or be ad
ndicaced s b~nkrnpt o~ imd~eaf, or ~'le a~oluoar~ petitioo in bankrupth~ or admit in wrian~ it~
inabilit~ ~o pq its deMa a~ tLe~ beeome ~ne~ or (3) make s~eaeral aai~nment for tbe baidt ot crediton, or (4) fik a petition or amwet
seekin~ nor~sni:ation o~ arran~anent witL eredi~ots, or to take ad~antsse of an~ io~ohenc7r ?aw. or (S) fik an aoswer admittin` tbc ros-
cerid dlegaaoos oE a paitioo filed s~aimt cbe Mor~or in anr baokrup~e~, reo~gaai~eion or in~ul.e~? Droceediu~ or aetion s6ai1 6e
tatw bT tLe Mortgs~or for the purpwe of eff«tios any of the fore~oin& or (7) an7 order. j~W~nent or deenr s6a11 be aaercd upou ao
applicuiou of a eredi~or or Morrga~r b~ a aoart of oompeuntt ~'~risdietiao appronins a petition sakioL iPPantment of a raYi~er or tru~tee
of all or a substandd part u~ tbe Mort~a~uls awea and such order. jud~mmt o~ decra shall ooatiaoe amursd and ia effoct for an~ period o~
~irt~ (30) comecu6re daM tbe Mongaaoe ma~ dalue tbe noM 4ereb~ secnred fort6with due and Pa7+ible~ w6erenpon tbe pr:ncipal of aad
the interat aaraad oo t6e nooe and aq a~ sww Lereb~ secured shaU beooa~e forthwitA due and paribk a if atl of the said s~n of mooef
~rere ori~inaltr stipnlated to be paid on socb ds~; and t~ereopon tbe Mortp~ee wit6out noaa or danand ma
in :quitr as if all moaia secured bereb~ 6ad matared peiot ~o iu ~titutio~. 7 P~ute s sait at law and/or
IS. T6at tbt Motta~ee or any pe~son autLoeiud b~ tLe Matsasee ~6a11 6a~e ttie ri~t ~u mter opon and impect tbe mortp~ed
premius at dl rea~o~nable timea,
16. Tbat an~ wm or wms which may be baaed or id~anad b~ tbe Mott~ee oo cbe Morrp~or u aa~ time witiin uo (IOj ~eus
from tbe date of tbis ~ndentarq ~osa6er wit6 interat thereou at t6e cate s~reed opoo u tLe tlme of snch lo~o or ad~anoe, s6all be ~qnall~ ~c-
cuttd wit6 aud have ibe stme priorid a~ t6e ari~inti IndebtedaeM aud be wb!'eet b tIi tLe ternoe aod pco~sioo~ of tbis mortP~e: Pro~ided.
that tbe a~ue amount of PrinciP~d oubaadtnt u as~r time aba11 aot ~oe~ aa amonat equtl to ane haodre.l aad Sit~ per ant (IS096) of
the prioelpal ~+noant orlsinaU~ ~ecoced 6ereb~.
17. 13a~ if reqoired b~ l~~ e6e ~id Mor~ wlll pq moo d~e Mortpsee. an tLe ~ie~t dq of each aod e~ay ooosecnd~e
mont6. a s~cqnal to ooatwelftb of ~aund amount naoa~ar~ eo pa~ d1 •tau+~ ~od ~tr a~sto~t tbe a!d mortpsed premise~ sdd
montblr aam to 6e estimated akl~ b~ Mo aad aknlued tio be ~n ~momo~ oot les t6as t6e amount a~ tau~ a~a~eds~n~ uid mat~-
ga~ed Pnmisei for tbe Pis~riow ~ea*. and~ucthet reqmred br Moet~a~ee to ps~ atl imunuoe pee~nimw in manner and gorm r pro~ided
6eran for tbe pt~meat of, taza aad ara~meab.
IR Tbu fo t~e s~mt tbs loao wbte4 t~mort~ap L sins to ~ foe tl~e P;~Snao~~~
of new baildinp ot t6t ooo~troedon a~ impe~s~emeab tad/or addldoai 1s bdidiap, t~t if
~P~7 ~a+ to depwii. wh6 tbe ~toetp~ce or td dad~~+~~ an amo~mt moseT ~Qw1 eo eb~ ffarmes 6~twem tbe aet qooecd~
of tbe bao and tbe ~otal amount~ u daamtned br tbe 1 utnd os fulb eosrl~t atd ooo~ttuaiaa ia aooordaoos wid~ t& pl~
and sped8eatioae ~6eremf~e ~nbmiaed b~? tbe Mo~or aod a ~
Mort~a~s~e In a'Zoaw in Peoce* lloa~t" !a tLe narae o~ tbs ~~oeb~aod ~i6~U M a~ed ttie~~ pj~ ~ tic
cLar~s and apeaus iacnrred in oounecebn wh6 uid aoo~tcocBoo pcio~ ts CAbunin~ oE t~ 1oao. It b fuetber~ 10 t~e co~
~aid oooKruction is not fuq~ oompieud on or be.fare tbc date ~tated In t6e a~an~aa Loan~ or fa tDt~
er~ ~~e wmk o0
said can.cn~e6oo s6a11 oea:e betoee foll oompleeioa wd ineL cwadm ~6a11 cooklnue for a perlod o~ tm (10) da or-if sab~antial aondaooa~
pro~re» ~6a11 not be made ia ~nc6 ooostroaioo. tLea and in aof so~ ennt t~e aid ~re~ate som. PrinciNW~ ~ i~era~ maadoned in satd
P~~' ~G aad a11 mooie ~ecvrcd Lenb~ ibaU bK+ome -due and pa~abk iorthr~it6 0* t~ereaf~er u t6e optian oE said
Mort~Ce: and ta
tLe e~ent of su~ awation of work upon sai~ ooo~troction for a period of tea (10) da~s, or if sa~t~oaal coctinoow prosces ~hall not 6e
rnade in ~ocb oomtroctioq a atoraasd. the Mort~syee au~ a ta optioo ea~ f~o ~nd npoo rbe mortga~ed Pnmixa and compkce ~aid oon-
strne~oo in wc6 manner a it deaos ad~isabk witboat ~ interfereoce from tre Mo~a~o~; t5e uid Mort~a~or 6aeb7 dirlnt ~~t
anganeab ~~ma
~be n~tea~a~to oompl~ae uimdake sncb entn inw a~d apon said mort~ased Rrsmire~ m enter into suc6 aootncts ~ as-
ooo~tn~etioo, aod ~o ezpcad an~ mooia rematmo~ iu aid "Loaor In ProceM Acoouqt" aad
in ~ddiaoo an~ soms of monrr oeoasaq? oatiplae aid oonstcoedoo; aod an~ aod all monia apended b~ tbe Mortsaacc in oonnee6oa
wit6 surL oanpktioo af ao~ouraction io acoea of the mooia io ssid "Lo~n ia Praes Aooomt" ~6s11 be added eo tbt said prieKipal debt sod
shall draw interat u t6e rate ~rovided in said FromiMOC~ oot~. sod shall be secorcd b~ this mortpQ, ~~1 be
Pqab1~ M t~e ~'lortiap~ ~
a~m~. $oox 1G1 ~c~ ~ . 43~
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