HomeMy WebLinkAbout2419 s
s. 11se Ll t!e aeaR of a.u1t bda~ is~tituad eo toerelas e~b seet~e~ tM ~~11 b~ ~s~itkd a s~ at sy? d~se auci~
•uci Eoralowrs ~uit eo ~Ae oouet 6a~ juri~dkdon ~ for tb~ sppoinaseat oE a ~er ~ ail aed~~ t?s mo~t~ased Q~ePeeq?. aW
of all reoa~ idoome~, Pro~ie~ ~ ce~renua tAe.roof? eaa Rsaaoevcr auta dalred; a~ tleceupoa 7t L Aeceb~ espe~a~br ao~maac~d
and a~c~d tiat t~e oourt ~bitl fo~wit~ appdat sa~ reoei~a wI~ t~ wuv pswsn aod duda et raoei~sn. ia lib ca~a; ~ed ssid ap~
poiaa~c ~6a11 M made S~ the eouK a a maeeer oE K.~a ri~4t eo tM ~od ~itrout Meeraoe ~o eM adeqwq oc iwdeqwq ot t~e
•alw of dw pcoperyr ~aeD or oo t6s ahw,7 or iaol~eaq of or ~e,f atYa p~rp dcfendaet eo wo? wd~ ~s
Moit~~pr Lersp ipai~~? wura risb a obiea ~s cYs appoiaaoe~ oE a rad.er a a~wsnid and ?enbr !=pseMly fAO~epb tDat N~d
aPP~~e~u shal~ be made at ~n admitted pWq ~nd a a~oaeter of abwlute ~i~6t eo tAe 1~oet~apt aad t6u tbe ume mq be doat wit~ont
ootia co t6e Morep~or.
6. 11?at It W proeetdinp ~hould bs i~tttated ~p~t t~e p~operq~ emred b~ t~i~ mort~e opoo aq~ aLer Hsn or daim wtietrer
~uperior or judor to tbe Iten of tbi~ tht Moet~s~s ma~r ~t iti option immsdiatel~ npon Io~itntioa oi wx! ~nit o~ durio~ tIK pead•
:ar tLeceof dalue ehn ~aortsase and~ebadaea ~ecored ?~:;b~ due aad pqsbte fa~tiwk6 aod m~T a la opcios peeoeed w Zoeedou
t6i~ mort~
To Wr all and~lar tDe oat~1 ~4 ~~a sod ssPeo~ of NK7 kind. isdodiss tbe cat of ao ~btnet ot 8tk ~o aid laoi
fouad co be oon~mieot ~ ent in oonnection wit?.aq~ wit fo~ tM toreelaan of tN~ aad aYo isdudia~ whet~e~ tbe
•
uo
u obii~ated to ~ame oc uoq rea~onabk ~toornhry ~ha ineurnd ar a~aded ~t W time Mor~yee beawe ot t`e hilwe t~e
Mo~a~or to oomp(p witb and ~bide b~ aQ or aq~r o~ t6t oormant~ ooodi8oa~ aad ~tipiadoes e~ aid ptomisoty oo~q ae t3ia
mort~a~e, ia c foreclauro of t6is rt~a~e ~nd in ootteetin~ ebe amaiet ~ 6~reb~ witL or witrout kp! aad ~s rejai-
bune tbe Mo tot every parmen~t made or iotun~d fot aq~r wc\ wht iotetaR tras da~t ef eter~ to~ at ebe ra~e ~E
ti~11t ptr Odlt~ p!t ~OO1LO; ~YCS p~j~m!!IN i~ Ob1ij~09~ R~t~ ~t tL![!0o Y it0lp~ t`i~~ b! ~lCY~ ~ tti! Ik~ ~
S. ~ eep t~t b11~~11~ Ot ~ OOw Ot tilrti~t~f 00 M~d ~iOd ~ ~OM Of {~ils~ ~~t'!~ ~ Cp~tl~! tdd
oc6er peril~. inekludin~ war rbt iawraocs~an~labl~ Ia a~an aot las tLsn didt tufl jnwnbk ~sine at etie oat and expare of tbc Mat-
ga~or in a oan or oompania appeored b t6e Morttase~ ebe polie~ o~ polieta ~u be LeW b~ ttis aod we6 polie~ or pdieia aE
s
insunace s6alt ~~e affiud tbcceeo a Sand~New Yock 11~0~~ Cl~u~c~ _eakio~ dl lor or bMa uala ~~~pdte~ o~ potida ;~tabk a
cbe Morc~agcs ~s ib iaterat mar appeu~ and eo deli~a ~aid or po~i~eia ~o ttie wtien f~oed tl~ tl~e radps foe t6epa
mrnt of the pcemium trerefor; and in t6e eveat an~ sum of becoma ~uada~
cDe aption to rood~a aod ~ppl~ t~e iame on sooonet of tbs P~~7 or polieia~ t~e Moctpsre s6a11 6a~e
L~l~~~ew ~eeuced ~ to yermit tYe tdo~o: to reai~e and we iy or an~
part ther~of. for ot6er pnrpo~ea, witbut eheceby wai~ios oe im ~ini W eqoib. lieo ot aode~ or by ~irtut af ttiis aod
c~e More~aiee if ie d«m. neec..arr mq plaoe sad par tor «~c6 or
:La+~ lai°s, ~ins a aHE~ns •
~ascd'~ op~ ~o foralae for brcacb of this oo~eoao~ or ao,r paet or a~qr or optws n~er t~ uo~t~a~e. aod e~a~ soeti~par
mmt sball bear interat ft~om date tbereof wuil d at tre cue of d
P~ t~ Pa oeot (t~~X~r) ~r aonuo, aod a!i we~ p~ wit5 ieeers~t a~
:foresaid ~6aU be ~ecnred b tbe lien beraof. L tbe e~eat ac~ ias or d~ma~e b w~httd blore~a~or ~?sp ooH~~ aE aK1 ioM ae
d.ms~e ..ichia toeq-ei~t ~4t) 6onn .aker tre 6ap~entns etieeaof; t~s taUiue ~o Si~?e wek oodee ~6aU con.Ht~e a dehuit iod t?e ~oet~a-
gce s6at1 b+~~e the ri~lb 6erein p~ca foe al) deha~b.
4. To permit, aom~ott or wfEer oo wa~te aad b maiotais tre impeo?~mmb u a11 t~me~ lo a rtate o~ ~ood rep~ir aod aoodiBos; and
co do orpenoit eo be dooe co uid premiia noetiin~ tbat will ~hee oe eL~op tM we ~ed ctisneta of Wd qope~ or in aqp wq impair K
wcakea t6e ~ecuriq~ of satd or~e. Ia cae of tbt refusal. oeslxt oe ioabitty oi eM tdo~tp~ot to eep~tr wd ssintain aidp ~~«_ty. tbt
by~che~
m h~af and ba~r
~ia~ st tbe ~ a! eI~ ~(i%j
p~aonm~o. ~aaa ia in t6at beddf wNeL aua s6a11 be seeee~d
10. To deliver the sbtraet or aburads of titk op~t6e matsyt~d qoperd to M~ee oe ja daiioatal a~eot~ w6icr ~6st1 a
all tuna~ dudo~ tbe Uk of t6is morts~e, e~in lu t~t o~ tLe ~o~ajes aud !a r?eat of tbe foreelanre at ttiis mort~a~e or ot6er
cramfer of titk, all ri~y tttk and interat of tLe Moctp~or ia snd to aq~ weti sb~orset or abrtraeq o~ tltk ~6sp paN eo the purc6a~er o~
Yrantte.
il. 't3at no w~i~er af~q~r oo~eaant rerein or te eLe obli~ ~ecoeed ~ee~sb~ ~iaU at aq~ dess ~ee~aEter be ~eW ts 6e a wd~er ef
any of the other tenm~ ~aeo~f or o~ tbe nots sxnced 6ersb~.
!2 17ut in order to ~oeelerue tbe nestoriq aE tLe tndebted~ bereb~ ~eenred beame aE tM tailarc of ele eu p~7 a~q? ta~
a6at~
i~ypay the~ ~ ar ena~mbanee apoa nW ~eoperq? a~ rerdn pe~o~ided~ it ~s11 aot b~ neoa~aq aor r~equhite~t
t N~e Mort~,f~es
13. T6at tt tbe Mo~[p~or sball fail, nesiecc oe rsfwe tor a Perbd ef tY=4 Isp) d~s aoa proa~ptl~ b py? t6e au~o~mb re-
~
quired co be paid b~ tbe oote Lasb~ sxnred ot t~e Ioterat etiad~ speeiSed er tq~ aE t6e ~ao~ moor~ ticreL~ telerred ~s or 6aeM~
curcd. or ot~er~e du1T. ~n1b P~~d7 ~ p~m. e~ee~e. oaa~y wit~ and abddeb~ e~eL. e~ec~ oe aq~ oE t4 ea~e4anu` oeodi
or ~ti~latioos of tbb aooet~e, tLe~omu~oq note l~cteby ~ecured ~lor tM ooo~en kw a~emeat. tf W~ t~ea. ~nd ia dtLet er h
any of ~acL cnrmt; wttbau notioe or demand. t6e ~aid~c sav meadouea ia sdd P~7 la~ P~ P~1~ ~d
any aad dl sums mmeioned 6ereia or rawred 6ereb~ ahall 6ecaa~e d~~ ~,~ab1e ~oetli
~a ~ita u o~tfoer~
Mortp~ee a fuly and oaaplstd~ as if aid a~m wm~ were otI
oote or 6erdn to t6e oonuar~ ootwttdandin~. and t6e Mort~a~ee riall be ~t~nwtpoa ot t~ereafter witbo~t aotice or~deman~ es iA-
stitute wit at Isw or ineq to enfate t?e ot tbe Mo~e~a~ee ?ereoader ot uoder qtd
or brcacb oo tbe ot t6e~ ~r Prosbwcf sote. L efe e~est ~ aa~ deEaoh
Wrmmt of a!1 s~~ieweed Lereb~ aedoo at law or b~r antt ia
e~ ~la t6b~moeep~e. ~ botti, oooenrcead7 ee at~eewi~e.
and aue aetion or wit ~6a11 oot abate ~ be a bae ~o or w~iver o~f tie ]~ic~ee'~ ri~it b ia~tute or maimdn tbe ot6a. p~oaded qid 1~fo~t-
~a~ce ~6a11 h~vc only ooe p~rmmt and sa~fsedoa of aid indebt~deaw.
14. 'lbat in tbe e~mt sbst Mor~a~or~sU (11 ooouat eo t6e eppainbmst ef s reedm. tru~ee ot liqddsens o~ sll or a wb~udd
inabili b~~ ~et~y or (Z) be ad~adie~ced a b~krapt oe ie~obeoy er 81s a~elna~r~ pe~idoa js bankeopee~ or admit In wdttus ie~
t7 P4 It~ deba as t~ bcoome dny o~ (f) mate a~merd wi~ome~t to~ trs 6eae~t oE a
P eredi~oe~„ or (4? ~le petlt~ou or ww~s
~
v~
~s~ P~~~~ ~
7 ban e
`adue~ion
e ~pee
e
dj t~~.s (f~ ~~aq~bs
takw b~ tie bRo~or for the purpae of effeedo~ taj of tLe fo~oto` ot (7) aa~ atder. jodpaest ar deetee sLall be aicered opao an
applitatiou of a uedi~ot or Mott~ot b~ a coart of oompete~ i~diceba app~o~iai • P~~ a~E a rad~a er tro~ee
of all or a sab~aatial part o! t6e Mo~~~ ~eer ~od suc6 order. iadpsent or daree ~sU oaodooe aod In effeet for ap period of
tLirtr (30) ca~su8n da~ ttie~~~ ma~ decLre die no~e 6ereb~ iecvred f~lwiti doe aod ps w ttie~~
pa] of and
the intere~t aaraed ao e~e oote and ali -aber rama rerebp secnnd t6aq b~oom~ ~iwteti doe and a~ it~t5e nid wnr of mooe~
..ere ori~inatt~ ~tipolated to be p~id oo soeh da7: tod t~eecvpon tl~s Mort~ee wh6out Doeiee or demand mq praecutc a wit a law wd/o~
in equiq as if all mooia ~aared 6ereb~ b~d matored ~ior eo Ib Iadtutloo.
iS. T6st t6e Mort~a~ee or aa~ penon a~r[sed b~ tre Mottp~ee ~all ?are t4 d~it b eater opoo and io~peet tfe ~
premi~ei u itll rea~ooable timea
i6. Tbac .n~ smn oc ~wma w6kh mar be b.ned o: ad.anoed br d~e Ma~a~ee es ~e 1sor~a~o~r ac sar ~me .rie~is oa~ tio) nan
from cLe date of t~b tnd~ mset6er nitb interat t6treoa u t6e rae ap~eed opoa at tM dme of wrc6 bw or ad
cured wic6 and ha~e tbe s~a~e prio~it~ d tbe ori~inal iadebtedna~ aod be rnbisa to sq the u~ an8 ~ro~i~ioo~ oE
~~~_b~ ~4 ~
cbat tbe a~qate ~ ot P~PV aoD' ~+e ~LsU na e~oe~eed aa ansooot eqosl to oas Lmidred sod R~ ~(IS0~96~
ibe prindpal amo~mt arl~inal4 Kcvrcd Lereb~.
17. T6sy If nq~dred bp N~ fbe aid Mo~ts~ wiq p~ uolo t~s lilatsapq ~a e~e ~est da~ of ac6 aod e~er~ ooa~eeoa~c
moatb. s ann al ~s aoe-twelfeh ot e~e aoaual amoaat oeoeMSq ts ph dl -hts asd aw~ee~b spia~t tbe uid moKprcd premba~. sda
moothl' sam ta~ euimaeed soldr b~ aad aknl~ted to be aa smo~mt aot le~ t6a~ t~e asoaot of ta~oes ara~ed apioR sdd moct-
B~~ Premisa for oe preriow pear. a~ad~tnrtber reqmred b7 ~Pi~ ~ p~7 ~~o~~ P~'~mo~ 1n ~oaooer aod foco r proTided
hemn foe t6e p:~mmt of, qze~ ~od aausmeae~.
1~ T6at ia t6e e~e~ tLs io~n w6tc6 tid~~~p b es seeu+e t~ e~ds !ee t~t aE ~iaaode~ dtirs tbs ooe~t~ioa
of new bnlldinp ~ t~e aowtsnetloa of impco~taear aod/or ~doo~ b~ baiWi~pr t4p 1 o~e~o~~ it teqoi bt ttis
espreal~ apt+es to depo~e• wit6 t6e )+so~ee or It~ d s qeot ~n asoont so~q pwt is !it ttie+~eoe bet~een tbe ~p~~~
of tLe loan sod tbe ~oal a~mount, ar daermtoed b7 eMad l~ e+ea Ia f~ib aeyiMe aid aea~t=oeeioa !e soootdwa wltti tie
aad spaifiatioos berecotae sabmiaed b~ ttie Morep~or aod s~r~~b1 tb~ Hae~ 8dd aowant aE ~
Mortsa~ee in s"Lwnt ia Procew Aooount' ia t6e naat aE tie ~i . aod tis su~e ~MII bt aud b~ t~e~~lsortsa~ee b~
~ioo~l~,
c~r~a aad e:pa~.a incorred in aoaaealoo witL wd ooo~eroeeio~ o e i o ~ a C~~i[ t~ ion. It b fort~er ap~eed erae is the etat
~u d oomcrunioo i ~ na t
a i y eomp
l
e
t
e d ae or 6 e
f
o
r
e eie da~e ~ a c
e d ~a i;~e LoaaA~re~eac or in t~e ereot e!u e~e w~a~ a~
.aid ooo~trnetion ~6a11 cnu before foll oompkeioe ~d soeh oeraeioa .i~ll oo~dnae ~or a pniod ~E aa (10) e~-if wbwantid eostinaoo~
Pro~ra~ s
6 a
1 1 not b e m a
d
e ie w e
5 o o w t r a e t i
a o. t
k s ~ o d i s aq wei e~qt trt rid yReistt n~ PdndP~1~ iaterat~ meatiooed t~ ~id
Promisor~ uot~ a o d a N m o a i
a ~eeured bereb~ ~ha11 beoase dne sod l~wit~ er tieieafbr ~t t~e apeioe of aid . aud ie
made in ~sne6 oa~ation of work u~ ooortraceioo tor t~kq~ (10) dar, oe ff ~a~qodd ooatiaoar pro~+es~ll o~,: be
~truction tn ~ it deem~ ~d~ib~bk~ w[ t~ ~t ib opeiaa ea~ter into ~sd opoo tie ~i~a aad oompkee aid aoa-
wt t~ ia~erfamo~ tns eM 1~pr: t~s a~~ `e+ebs d~s ~~s
eu t6e D~Iort~e fnll power ~nd aotborib ~o make w~L eatr~ is~a aoa a}oo ~ a~t~ap~ w eatu toto wei ooatraw or ar-
ran~emeaa a~ ma~ be neoaraq to oompkoe s.id ooatn~oe~ aoa r es~ead a4 seaia remd~L
idd 'Z.ow la Yeeoe. Aoosu~t" ~ad
io add~d.ao aor o~ mooe~ oeawar~ co oomplae .dd ooaenrceton; aod ao~ ,md .U mooM espeadeA b~ e6e btortpiee is ~oonee~oo
with ~ncti oompletioa of oooKn~aioo in esoar of ebe mooia ia ssid "Loae~ L Prooe~ Aboouot" itp be sadat b t4 w1d pdodpa! debt and
eha11 dnw icterat st tbe nte pmrided in said peomi~wr~ oot~ and ~hall be Keared b~ tL~y.aae~~e, aod ~all be
l~4~~ df ~ ~
~`m~°. aaoKl6fi P~2417 ~
~ar~ - -
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