HomeMy WebLinkAbout1812 . 4
T~a~ ia ~M rraR ~f a wh ?et~ ia~tituad a hnclas t?a ~me~apr tM lrt~..~sll-L~-Meitk! a ap~ ~t s~r tLw d~
~ue~ foreelow~e tutt eo t6e court b juri~dictioo e~e
~f tos tbe appoimmeot of a ~eoe~~er of dl and~~ lar c?e ieo~t~a~ed P~P~V•
ef all ~b. iocame~ Pcofie~ iw~w ~ cenaua trereof, from Rhat~ever auroe dsrt~?ed; aod t?eceupoa it M la~~, espe+~b ao~eaastcd
aad ~cerd tlat tM aouet ~all h~Y~+itr appoiot sucr reai~a wi~6 t?e uwd powe» and dutla et ~eoei~sn.la Ub eaa; aad aid
u
poiaanent shall be made by c?e oouK aa a matcer o~ ~tcia rishe eo tM aad wltbout eeEenoo~ a tM ade9wq or to~deqnae7 oE
•alus of trs p~ ~tb ot ~o t4s wheoq o~ iaottenep oE or W atMr puqr defmdant eo weti wi~ T1e
Mon~a~or rere0 speafic~j?~~ ei~t a objea b t?e appdntment of a ~er a siawaid ~od lerebr sspra~br ooo~ae~ tLat w~
appoiaeme~t shal~ be ~~ds a ao admimd puip and a~ a mata oE ab~olu~e rispt a t~e l~loetsa~s aad t)iat tbe wns st~r bt da~e wttrout
oot~a eo tbe Moctsa~o' .
i. T6at if aq~ proceedinp ~ho~W be inuituKd ~pio~t trc properq oo~eced M tsis doe~e npo~,a~ otber lim ar dais wret~et
•uper~ or iunior a tl~t liea. of ti~ c6e Mor~ajee nw at tb opcion immediuev upou ta~icutiea a[ «xi ndt or dorias cM pead-
eac~ thcreoE declare ehi~ mo~e~e and~~ ~ecured ?aeb~ due and pqaek toettiwie\ aad my ~t tb opeioo p~ooeea w~eeeelae
~6js mocetase.
zo p.r au a,~ lar ~e oan, tea. c1~r~a .od a~eaa oE e.a~? t~ad. tadwatos ~e co.~ of ae ae.cracc of etde ~o ..te tan~
tound to be ooo~enient ~~eat in coaoecdoa wit6.aq~ suit forptre toceelo~an of tii~~ aod aMo IodadIos. wietfer tle~
is obliptcd to wne or oot, re~sooabk attocoey~a ~ca ioeurnd or apeoded u as~? tim~ b ttie 1~oetppe beaws ot etie tdlurs ad e~e
Mort~s~or ro oaupi~ wit6 and ~bide by aU or anx ot tre ao~ oonditioas aod teipnlatioo~ oE uid promtroq no~q ot thk ~
~nort~a~e, in foreclosuro of tbismo~a~e aod ia ooll~ru tbe amouet se~r~ La~~ wid or wltiont le~l ~ad M:r~ai-
burse t6e Moct~a~se for evcq p~ment mad os Incurre3 !or wcr purpat witr Iaten~t fros date oE s~eq P~ at ths nb ~f
at~ Pa ~(s'1i) Pe~ aoomo; sucr ~ ana obU~ wlt~ L~erat tiaeoo ~ aioeadd, ~tiaU be ~ecwred D~ t~e ~ M+M+of.
R To ere boildin~ o~ bW~~ sow or tieraher oa safd laoa torured ~p~ IoM or da~wie b7 ~
otLer perib, iac~ wu rbk iownncec i~ a~ailable. in a tus not las tban trds tuit iusarabk ~alae u t6e oat and esptase of tle Mort~
Ba~o~ iu s aompaqr or oompauics appeo~ed D tbe Mort~a~c~ tbe polie~ or polie~a to be bdd b~ tbe ~aod we? potie~ oe polkia aE
i~uraoce sbali 6a~e affuced t6ercto a~New York Clawe, oakio,~ all lor or lones unda ~or polida p~T=bk ~s
t6e M rt~agce as itf interat ma7 aPPesr. aod to deU~a sai~~d~ or po~a'a ~n tbe~ w?en ~ued ceaips ~or t!epa~-
ment of the p~emium trerefor; aod In tbe e~mt an~ suis of bctome~ pa~aWs nnder iuc-6 polie~ os polida, tbe Motesa~ee ~lall iia~e
~e optioo to reai~re aud appt~ tbe aame ao sooount of the L~kb~t
na~ ~eeured baeby or ~o permit t6e Mort~a~or ~o rad~e and we iy or aV
part t6ereof. for ot6er purpae~, witbut t`ereby wai~ins or impairlot W tqnib. lien or d wda or b~ ~irt~e of t~ mo~ep~e• ao~
c6e Mo~aRee i~ it dcem~ naewq ms~ pl~aa and pq tor ax6 or an7 Put ~~!itLoot laio` wd~ o~ afketins ~oeb
~agre'~~ to foceclae foe bceac6 of t6i~ oo~enanti oe aqr paetUa~. or aar ri~ oe opeion uoder t~is mort~a~ aad e~ar sutli pa7~
mmt a6aii bea~ intcrat fran date ~e~of until paid u d~e rue of dsht Per omt (i7~fr) per am~, aod all a~ pqmeob wlt~ interat ar
aforaaid ~6a11 be sawred br the hm heeeof. Ia ebe e~mt W{oN or dams~e L•nffaed l~ort~a~sr sbsp ~otib ~ of aref lor oe
damsge wit6in tort7-eii5t (4i) leoua afta ttie hap~mios tLeceot; ttie f~iloce !o p~e su~ notke ~6s11 ooo~dt~Ke s~h and t~e l~o~t~a'
gee shall 6s~e the ri~bts 6erdn si~en for di defaulb.
9. To petmIy oommit or s~Ner no warte aad to maintain tre impro~semeob at dl ei~t la s uate of ~ood repair aad ooadido~: and
eo do orperm~t eo bc dooe co aid p~emisa nahins that will aher oe cLao~e ths n~e aad e6sraaer ot aid p~ or in ao~? w+V impair K
weakeu tbe seturiq? of »id mort~an. In ca~e of tbe refwd. ne~lea Or inabiliq o~ t6e eo eep~[r and ma?naia pidprop~r
~ t4
Mort~a4ee ma7. u ta opfioo. m~e ~oeh repsin or uwe tDe same ~e be msde aad sd~ana~me~a~ta eLu beLalf whiei w~ ~ha
!1 be ~eeu~
by cre Uw 6ereoE aod bear intesat at tre rue o~ ei~t pxr cmt (t%) per amum. ;
10. To ddi~er tbc sbKtaet or ab~traw of tiNe onterin,~ tbe mo~ed property m Mo~ee or its dd~oated aamt, w~iei sWl at
all tima. durin~ tLe lih of t6i~ moet~a~e. remain ia tLe poaasioo oE tbe Ddoetp~ee and in e~ent of t6e ioreelaure ot t6i~ moctp;e or otLer
cramfer of titk, stl ri~6e. ack and incerac o~ ~e Mo~a~ot in and ~o anr snc~ abKraa o~ ab~trws oE titM ~6a11 par to ttie Paeda~er ec
Crantct•
11. T6u oo wai~er ofaq~ oo~eaant 6esda or in t~e obtiption sea~red ba~e6~ sraU at aq tLmc rcreaf~r i~e bdd ~ be a Rat~er ol
anY of tbe at~er term~ her~of o~ of tbe note secnnd 6ereb~
1Z. 'That in ocda ~o aoalerate t6e mstnriq ot tbe indtbtedoew herebp ~ewred baeawe a~ tle failore oE t~e Mort~or eo pa7 an7 tss
s~seameM. liabilit7?. obli~ation ac encnmbraoee npoo aid prcpersp as 6erein peo~ided. it s6aU ~ot be oeowae~ aor requbite ctiit tre yiortga~ee
sbaU fitst ps7 tLe ame.
13. Thac if tbe ~ shslf ~ail, nesl~ct or refae fec • period of tLtety (f0) da7s~y aad P'mPd7 ~ pp ebe adomn ra
quired oo be paid br t6e noa rereb~ saured or t~e interist tLadn specified ~r an7 of t6e ~ of mooel i~a+~o referred ~to or baeb~r. ~
cured~ or otherwise dot~. ialt~ and prom~ti7 ro Perfa:my, e~cecu~ aanpy wit~ aod ~bide 67 aei. e~er! or aa~ oE ik co~eaaotr~ oeod~hoo~
or ~tip~latiom of t6i~ moresa~ tbe rw~rY mte 1KCeb7 seennd aib/ae t4 oowtnKtios loa~ a~reemeot. it anf. ttiea. aod in dtLer er it
~ any of suc6 e.mea~ witboat aocioe or ~ d~e ~aida~ep~e sov mmtiaaed in said promi~~ nae. IeM previau W7~. ~~7. ~
an~ and al! sums ma~ioned becein or ~eeared 6ereb7 s6 1 b~oomt doe aod ps~sble ~athwitk or tLetafter u tbe oooRindosopt~on ef tre
Mottsa~ee as fuli~ and oompktd~ a~ if aid a~ue swo~ wae ocisinall~r stipnl_ated ~o be paid u soeh tir~ aoYthios in aid ~Siwor7
note or 6er~an to tie oontrar~ notwitLsqodio4 and t6e Moctsa~ee ~b~ll be entitled therenpon o~ trereafta w:~out aotice o~ daaand ~o in- .
I satute wit at law or in e~d to eoforce~ of the Mo~s 6ercuoder oe noder ~aid pe~omiwoe~ aota L tLe e~e~ af w~ dehnit
or breae6 an t6e put of t6e or m~det said P~omi~orl note. tLe Moet~ee shal! lia~e t~e oontinuios option a eafoece
Pa7ment of vl soms secured 6u~~ adioo at 4w o~ b~ adt ~n ~o i~do~e t~ m~, ~er o~ b~. ~7
and ooe aaiou or wit ~6a11 mt abate or be a bu eo or wa~~er of [Le~i~e'~ ri~t to i~tit~te or mainuin t~e a~t~er, providcd ssid 1~tort-
~ ~a~ce ~6ai1 6are only one pa7ment and sswfaetion of aid indebtedoe~.
14. '13at in tbe e~mt ttit ~~stiaU (1) oomeat to t6e appoinemeoR af a rscd~er. truitee at tiq~ddabr of aU o~ a a~b~tial
~ part o~ Mor~~~ a~ees. o~ (Z) be ad1 a b~okeapt K iwoiveot. ar Sle a~ol~mtar~ petitioa ia baokrnpte~ or admit In wriBn~ Hs
f- inabi4t~ m pn ib deMs a~ die~ bac+ome dn~ a: (3) mabe s`eseral ari~ to~ ttie bmeRt oE aedita'+. a~ ~Ie a petition or ~o~wa
~ sedua~ r~or~sai~oon ~ wit6 credimn. or to take ad~antase af au~ inwhea.7 law. oe (S) Sk an awwa adoeitdni ttic ma-
cerid allea,stioos of a pea~ta~aimt t6e Morcp~ in any bankrnP~7. ~~~7 n~. or (i) aetioa srall be
akea b~ t~e Mortg~or for t6e purpae of effeaios aa~ of tLe fore~oins. o~ (7~ aa1 order. jodpoeot orp~ ~ball be eatered npon' ao
apylicaeion of a credimr or Moc~a~r br a oourt of oanpennt !'ori~dteoon spp~o~ins a peBtion Kekios appdnemeat of a rad~er or tru~tes
of all a a subtaotial put of ttie Mort~a~oe's aweb and ~ncb order. l~daoeat or deene s6a11 aoneinneo~~ aod ~n e~fat !or a~ period af
t6irty (30) aoweensins da~s, tbe Mortgs,~ee ma~ daelsre ~ mte bcreb7 seeot~ed ~iwit~ doe sod p~7~K. w6ereuapau ttiepnna
pal of sod
the iatenst aarued on t6e note and all ocher sams tis+ebl? secured sh~q 6eooa~e io~t6whti due and pa~abk as if a0 0~ t~e uid sum~ of mone~
were oripnallr stipalaad co be paid an sncb ds~; aod tLerenpoo tbe ~ee withoot notioe or demand ma7 P~iec~e ~ sait u law aad/ar
in equit~ as if all mooia ~etarad bereb~ 6ad matnred ptfo~ to hs iwdtwioo.
1S. Tbat tre Moet~a or so~ penon audLoei:ed b~ t~e 1~ortp~ee sLall tiane t6e sl~ht b a~ter npon and inspxt tre matp~ed
premi~q it all twooable times.
16. ~at an~ wm or s~ms wLieh may be loaoed or ad~aooed b7 tbe Moet~e ~o t~e 1Sortp~or u ao~ time wit6ia ua (10) ~an
from the date of dw indeatnre. ~o~er with internt t6er~os u tbe tate ~Ceed apon at t6e time of sne6 io~n or ad~anor, s6a11 be aqaall~ so-
enced wic6 and 6a~e tbe same prio~iep as eLe ori~inai indebtedne~a aod be snb~'ea so aq tbe tena~ aod prn~biom of t6is mo*W~e: Pro~ided.
~hu tre s~etate amonne of prineiPal ouMandint ae a~? eise ~btU na e~ooe~d an amoaot eqnal ~o ooc imdred and life~ per amt (is0%) ef
ehe prine;psl amount ori=ina11~ sawed berebr.
17. 'I3ay tf reqoired b~ Mo~ tbe tdd Mortp~o~ will ~ oNo t~e lRoet~ee, an t~e fint da~ of eae6 and t~erT aoo~eeu8•c
mootl~. s w~m~qw
1 to aoatwclft~ of ttie ananal smoant neoa~ar7 Is pay dl ~tata and ~ ssddt tbe aid morega6~ P~. ~
mootbly smn to 6e estimsted soklr b~ Morc~s~ee and ealenlued to be an wo~mt not ler tbao tre amoaat of aus awa~ed apimt idd woet-
S¦6~ Prtmiai for t~e prs~iou~ pear. and if fart6es required bp Moct~ee bo pq aU iwaranoe praaiwr in manoer ~od forv a~ peo~ided
herein for t6t paymmt o~, u~a and are~mea~b. .
1=. That in t6e e~mt tbe lo~a wLieh t~itm~p b si~s to ~eeuee L m~de ~~e r~ oE Snaoeiu,z eierer tbe eoo~eruetio~
of aew buildiu~ or the aomu~tian of jmpe~oTeme
tats aod/ar additioos ~s ~ti~ bdldiap. t~ep 1N~. it n a[ted b7 ~~P~,
rzpre~l~ aseas to depoit~ with tbe Morep~ee or ib ds~ipated a~ent aa asom~ of mooef eqwt 1o ttis keeoa t6e net
of t6e {oau and tLe ~oal auo~mt. a~ determioed b7 tM 1Soe~e.'~ rcq~dred ea ln11~ oosplMt pia coa~ecretjoo in aooordaoa witti plat~
aad spaeificatiom tiae~otoe+e a~baiaed bf t~e 1~o~t~a~ aud ~ed bp t4 D~loetsa~ee. add ~moimt of mooe~ tiiall be plaoed b~ t~e
Mortsa~a in a"'Lwm In P~oc~as A~ooouot" ia tre nase o~ t~e ~ortp~or, aod t~e same tL~U be med b7 t4 Nortia~ee b W7~ ~e ~b.
eharps aod apen~e~ iaenrred in ooaoeetion with stid coa~rocw~ prior Is `~bant oE t~b lo~o. It b fnrtber ap~ad t6at is tbe e?e~t
said ooo~cruction n 0ot foiy oompleced o0 or be~oee tM d~ee rtated is t6e I
oaa or in t6~ ereat eWt e6e w~ort a~
.aid eo~mtrnaian ~6ali owe bcfore fdl oom~letton aad we~ oa~eioa ~baU oootians t~ a periaf ao (i0) da or-if sabwanBal ooa8nooa~
P*oQras shall not be msde in soer ooourocnoo. t6ea aod io aof a~Y enat tre pid ypepa ag PriodPal ~ Lotsrat. mmtiaacd in ~aW
P~~7 ~ aod aU mooia ~eeured tiere~ srall 6~oo~e dne aod~We ~witr or tiaeaita at tbe optioo aE said . asd I~
t6e e~mt of sne6 oa~atfos of work npoo sai~ oomisoetio~ ior s of te~ (10) dU~. or if ~d aootinoom pra~res~l aot be
made in wcb ooo~troctioo. as aforaaid~ tbe Mortp~ee sq at fb optim entet i~o and apoa t6e a prraifa snd oompkbe ~aid ooa-
~o~os ia «u6 maaner a. it dema ad.babk ..tt~orc a~ intertereaoe fno t~. Moet~a~o~: t4 a~l 1~ b~bs d~s ~ o'~ ,
~ tbe Mort~ee tull power asd ant6orit~ b msks weL eatq ieto nd apoo aW soeepfed~~~~ a, w auec Into ~ ooatnds or ae~
no~emeoa a~ ma~ be o~aar~ to oomplea ~aid ooo~tn~oa~ ~sd te espmd aa~ atooia ia aid "Loaa~ te P~ooer Aeoomit" aod
ia addie;oo ~a~ swns of mooe~ oearar~ eo onmple~e aid ooo~oaion; and aa~ aad sU moda ~peaded bf the Mort~ee in oooneaioo
wicti wcti oompktioo of ooo~tr~ ia e~oes~ of ebe mooia in said "L,wni ia Proar Aooouat" ~lad be sdded ~n trs said prioeipsl debt and
s6s11 draw inttrat at tbe nte pro~ided Ia aid P++om~or~ not~ aad ~6ai1 be seemsd b~ t6i~ moctp~. aoa srali be pq~We b~ tle Mort~yot j
u~ eema~d.
a~K168 ~~1~07. ~
--_~~r :