HomeMy WebLinkAbout1835 td) T~ pa~ sU ana .ia~ular tbe eeN~. ebuses ~ai exprea~es.~'ioelndint lawYer~' ke~ sad d??ua.~ cost~ reaNOablY iacerred ~r pai~ ~t
aa~ time b~ tLs Moetp~es 6eaws ~t liw t~ilaro s~ tbr p~rt o[ tl+e ~dertpRor t~ pe~1~na. eompl~ wlth ~ed nbide by rae6 aed ~eq ~
t6e Kijwlatio~u. ~~eeme~us~ eendUisnr ~od ~ove+w~ts ot ~aid pc~mi~rs~r ~atr u~ni ~I~i~ mort~•rre o~ rither. ~nd evrryr wcG pa?yweat ~hsll
be+~r toterat trom dats ~t tlre ra~e ot tes per eeotoo~ pee annu~.
(e) It i~ tdrt6ee es.ewa~ed asd a~nea b~ .aid parties c6~t i~ tbc e~eat ot ~.uit l~ri~~K in~tkuted to to~eclo~e ihi. morlp~e. tM ~d~tt• ~
~~ee ~haU bs entitled u aPdr ~t aa~ ~ide peadie~ wteL toe~eelosuse wit t~ the rouet havin~ jadudletton t6ueot fo~ t6e i polntmeac
.
et ~ raeei~ar ei aU aad ds~at~ t6e a~t~~ed pr~pat~. aed eE all reet~. l~xoma. protit~. iuues aad reveaae+ 16erest~ m rr6st• ~
•oe~er iooree deri~edt ~od tbeceopN R b Lereb~ ~peeai~ ee~on~ated and ~~r~~ed tb~t ~be Conrt shall Eoithwith appoint wr6 ~eeeirer
~rith t6e w~d po~ren a~ iatia ~E r~eei~ecs in Wce ea~est t~ ala ~ppotnta~eat ~haU be aade br tbe Gart as a aauer eJ st~et ri~l~t ;
t! t6e M~rtpsea, ~sd ~ritb~~t rrtaYeae~ to tbe ~.;aac or in~deqnrcy o(1he rdue ot the p~opert~ here~r mottp~ed. oe to tM wheoey ;
pt
oe iosohra~r ot tbs ltertp~scs or aay ~tbar p~et~ d end~tt p~ue6 sai~ The Morlp~tor becebr ~pceifieaU! ~rJ~ea ibe rl~ht t~ objett ;
to tLs ~ppointa~eat o~ ~ reeei~u n dKewid ss~ herab~ ap~aslr co~uena tlut wrh a pointaneot r6a11 b aude M oa ~dmitted eqait~ ~
~u
Yad a~ a mauer oI ~b~elue ri~6t t~ tbs ~I~~~ee wi tbat tb~ suue awy l~e doae w a~ ns~iea ee ihe Ddsnp~oe.
~ tl II toreclesare p~oceedisp s6edd be ia~t~tod ~pio~t tbe peopntr eo~e~eil br thi~ a~etp`e apon ~or ot6e~ li~a ot ~4Fm ~+hether
~lle`ed t~ be wpacio~ et ~anl~r to t6e ltes ~t t6L mKtp~e~ the atort6v~tee nmy ~t bi~ opti.~n iauurdialel~ upun instituiion ot escL
,~ok or duin~ tbe pwdeee~? t6eceo( dedare t64 aart~~ and the indeMrdnear seea~ed hereb~ due aad pa~able tort6with ~nd may ~t
iu optioa p~oeeed te i~[oele~e t6i~ mort~e=a
(`1 T6u the Moetp ~or will Eeep ~il real andpeno oal pnpect~ nuw~ ar ieerraflrr eneue~bered bY tbe Ilea ~t tWs moetq~e iesored
a~ mar bs requtrad how time to tims br tbs Me~t~a~ea ~~n.t lo.a b~r fire. ~rindqorm and e~her 6isarda, ~ssaaltin and eoattn~eneiw
1or ~neh periods .nd ter no~ lea ~6an we6 .momw u ma~ be re~u~~ed by the Mort~aE.~e aed t~ pay prompl~ when dur. all pres~i~m~
lor wc6 iasonaoa TUe ameunt~ of insarance reqajred by tLe Mon6a6re .hdl be the n?iaimna~ awounts for hhieh ~aid inEaraMie ahaU
be ~rritteo and h shall be iatasbent ~poa t6e Moctp~ee t~ ~atain .urh a~ldltienal i~snranoe n m~~ be neeewrr te attet and o~e~ ~
~all~ ~+k6 aU eo~insaranre requiremeots ceatained ia ~aid polieies ta ~he eAd ti~ t1~e s~id ~teetN`~r is uot a raiasoror thece
Insnrance s6all be writtew by a eomp~a~ o~ eompanks appco~ed or dr.iEnated br the niortR~Ree ~nd dlpo
lieies ~ad ronev~at~ thereef f;
.haU be held b~ t6e ~onµ~ee. All detailed Je.isaatiuns by ~6o Mon~~Ror Mhjrh rre aeceptcy! b~ tLe Aionaaare~rnd all a~reem~ma
betweea ldortpjer aad ldNtp~ee telatj»a ~o lasncaaee. norr aiuinR or hercakre ms~lq ~hall be in ~rrido~ and ahall be a j?art ot tbia ~
~~N[e ~R~ u fidl~ as tboos6 set feet6 verbatias he~ein and ab~U Ro~en~ both parties 6enio ~nd thelr sueresWn and api~.
No Uw apon m~ o[ iaid polieies ot insamnce or apos an~ retaeH! or rnoru premiua~ ..hieb ioa~ be pqaWe on 1he eaneellstloa or
termie~tloa tberae~ ~6a11 be ~itee ta other tbaa the ~~ctpsee, eareP~ b7 l~eopK endona~x~t dfi~ced t~ sue6 poliey and ap~ro~ed b~
~ldoespsee. B.cb polier et insarsnae ~6aU ha.e .f~ced ~e• •~usdud tiew York aloet~taeee Clar~e wit6~ut Cootributieo, matia~
aU !on or loMes undrr we6 polk7 p~yable te tbs ]i~et~e~ a~ i~s intuat waj appear. Ia ~6e erea w~ wm or an~ns of nwney bceowe
P~ri~e t6ereander the ]Rortaa~ee ~6d1 bare tLe•~ptioa q re~e and aPP~)' t6e ~aa~e ~a aeeoow ot the iad~btednesa haeby serared. sr
u
teperwit the Mortpsor te rcrei~e aad uae It, et an~ paet t6ereo?, w~itbout 11Krcb}• waivin~t or i~pairiug an equit~, lic0. sr ~i~6t
nnder and b~ ~irtae ot thi~ mortRaRe. Ie ~eeR oE lo~ or p6ysi~al ~lamasr to U~e mortRaRed propeetr the oM~taRo~ fhall Ri~e im-
medi~te no~i~e thereof by mail to d~c Mortsa~ea aa~l the Mo~t~aRra: ~uar n~s~l.r ~KUOt ut lo~ if t6e wa~e is aot n~de }~romplly b~ 1he
Nortpsor. Ia eneat ot foteelowre of Il~is nNn~ae or otber tran,.(er ot title to lhe mortp`ed p~oprrt~ iu e~.tin6ui.hment ot tbe
indebtedeeu ~eenred bereb~, all ri6ht,~titls aad intere~t ~t the Mert faRer in ~nd ts aay insaraace polieip then ie toret ~hd! psss t~
t6e pureha«x oc srantee.
~b~ r. rert.nw eeapl, ..i~i .na .biaa L~ ad~ .ni e.e~, the a~pdw.o.. .~easeat.. ~ad~iOU~ .oa a.ea.~. is ..:a po.~...r,,
aot~e and in this wonp~e ~et EortL.
U) 17ut it aa~ ~i s~ su~s ot m~oe~ 6erein reEerred t~ ba not ~KO~ptl~ and Eoll' P~id witbie ~1'treall ~lap ~t
zfter the sme se~uall~ beeo~ea d~e aoa Pq~b1e. or if e~eh a~ ereq c6e stiy~l~tions. a~neeeeu. eonaitaes aai eosenaet~ ot wia
promiswr7 eote ~nd t6i~ m~tt~e, K ehbar. ue not folly perf~ed. eosplied ~~6 aoa abided b~. tba s~ia a«epte qs aeetiesed in ;
wd pcomiwoq nete ~6d1 bee~se d~a ud p~yable f~eth~dth or thersaher at tbs opW~ ef t6e liertp~oe as td17 aad compl~td~ u
it ~he ~aW aurepte sam oE ~aia pr~mi~wrp a`e rra~ od~inallr ~tipdsted te be paid ~n sae6 ds~, awlthio~ ia ~aid promiasoq note
or be~ein ts the eontnq ootwitlwaudin~,
(i) T6.R ~ srda~ co aeoet~r.ce e6e m.c.r~ oE ~s iode~ed~.s tKr~br seerred, beea~ue ot t6e tailore of tLe Mort~er to p~y a~
tu. as~asoaen~ 1Lbilit7. sbli~tise sr ewt4mbruee npse saia ~prct7, ss hueii~ pro~ided, ~ shall not be aecessary ~ot~ reqaiEite thst tbe ~
m~tt~ee s6all gnt pry tLe t.~nr.
It ia specificallp a~cree~l that time is of the e~eaoe of tl~i~ cc~ntract an~l tlut no sr•uirer of anv ol?li~ation here-
under or of tLe obligation secarcYl Lere}?y shall at any time thcrcatter he lield to be a waicer of tl~c tcnna 1?ereof or of
tl~e inetrnment aecured hereby.
3. TLe Mon~~ace inay, at hia option, and withont waiving lii~ ri~lit to accclerate the indebteclneas hereby
secured and to forecloae the same, pap either i?efore or after deIinquencjr any or all of tho~e ~ertain obli$ations
reqaired b~ the terms 6ereof to be paid by the tiiort~aaor for the prot~eetion of the mortgaae ~ecurity ~or for the oob j
tection of che indebudneas herrby eecura~. !lll anms so adranoed or paid by tVe Mortgagee ahall be charged into i
the mori~aae account and become an inte~ral part thereof, snbject in all reepecta to tlie terme, conditiona, and ~
oovcaanta of the aforcaaid pmmiseory note, and this mortgaxc, ae fnU~ and to the same exteat as though a part of
the oriainal inde6tednesa evidcnced 1?y eaid notc and 6ecurcd by this mort~aaG a~cepting however, that said sums ahall ~
be rep~id the Mort6aaee forth~vith npon ita deraand and be in ~ddition to the re.gnlar montl~ly inatallments prnvided by ;
the mortaaae note, and every such indebtalness sLall bear interest from date at the rate of ten per ceamm per annwn. 1
4. T6at the abatract os abstracta of title coverina tlte n~oct~ta ed pmpertv shall at all times, durin~ tirc life of ~
this mortaaae, rem~in inpos~eas~on of the Mortaagae anJ in aveat o~ tl~e foreclosare of d~ia niortas~e or otl~er transier
of tide to the mortgaaed property in eztiuauisLrumt of tLe indd?tedness secured Veteby, all ri~l~t, title and interest ~
of t6e Mort6aaor in and to any such abatract of title s6a11 ~?aES to the purchaser or e antee. ~
S. To tbe eztent of d~e indcbtednes.~ of tLe ~ortaa~~tor to "the Mortaasee dtacribed huein or ~ired liereb~, ;
the Mort6aaee is hereby st~rogated to ilu liea or lieas and to ihe riahts of the oNrners and holders iliereoi of each
and e~ery mortEaae, liea or ot6er iacnmbranoe on the land de~xiLed herein which is psid and/or satiefied, in whole
or ia part, ont of the prooeeds ot the ban deacribed hereid or sccured 6ereb~, and tl~e respeetive liens of asid mort-
I aad, liens or other inarmbranoes, shall be and t6e eame and eac6 of them 6ereby is preserved snd shall paes to and
, ~ held by tLe Mortaaaee hecein as Eecurity for the indcbtedaen to the Mortgaaee herein described or hereby aecared,
to the Nme eztent t6at it Mronld lu~e l~eea praerved and irauld have beea paased to and been held b~ the ~Io~aaee .
' Eud it becn dat~r and 1~ ae~ianed, transfen~ed, set orer, and deli.ered unto the ~ortga~ee br eeparau deed of
i aosianuneat, notv~ritlutan~the fact that t6e ssme ma~ be eatisfied and canoellcd of record, it beina the intention of
t6e partics hento that t6e same ~vill be sawfied and canoelle~! of record b~ the hotdera thereof at or about the time oi
~ the reoordin6 of this mortaaae.
~ 6. Ia the e~eat the o~rnerslup of the mortaaaad preu~ieee, or any part thereof, besomea veatal in a person other
; than the Mortaaaor, the Mortgaaee may, writhont notiee to the Mortaa6or, deal with suc6 aucoessor or snoceeson in
` iatenat ~rith sefercaoe to this wortaa~e and the debt hereby eeaued, in the aame manner aa withthe Mort~a~or Mrithoat
! in any wsy vitiatina or diachu the Mortsaaor's liability hereauder or npon the debt hereby secuze~. No aale of
` the pnmi~ea hcreb~ mo~aaaed and ao forbearanoe oo the jw~t of tl~e Mort6aaee, aad no e:teaaion of the time for the
; payment of the debt herebr .e~r~a ~.+~a b~ tbe ~orc~.aee sh.ll operate to nlea~e, diechu6e. modify, chan~e or
affcct the oriainal liabilitT of tbe Mortaaaor herein either in whole or in part.
~ 7. TLe iien of t6is mortaase secares ~and e6all ao~utinue to seeare payment of aaid indebtednees howevex e~i-
deaoed, rirhether b~r~ai~ ptomieeorT note or any reaewral or czteoaion tTureof or sabstitate therefor, or otherwris~
= uritil all sne6 indebtednas ahaU have becn fnDT paid.
; 8. T6e terau "Mort or° and "Mort6saee" ~?heae~tr ured in this instramart ahall inclnde t4e Leirs, personal
; repreaentati~es, sa~~oeeson ~ aa~iaos oi tLe reapect~re paniea hereto. ~hhere~er ~t~ed tLe ainaular nnmber shaU in-
; clnde the plaral and the plural tLe sin~uLr, and tLe we of auy ~eader s6all ineinde +all aenden.
~ 9. It is eove,aanted aad aar~eed that s6onld tLe terms of a mortsa6e anpe~cior ind~~ g to that of the herein da
; ecsiibed mort;
a- ~e be modified. altered or ~aried, ~rithont the writtea oonseat of the Moe~aaee herein, tben and in ~
~ anch e~rent tLe Mortaa~ee herein may, at his option, decLre the indebtedneaa aeeared by thia mortaaae to be all dne
~ ~ Pj7abla
~ 10. This is a tirst pu'eYise! ~?e4 ~nortaage npon the above Jescribed propert~.
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