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s. i'6at in tLe eveac of a~uit beins ia~tituted ~o foceclon thi~ aw~ap, t6s Me~asee ~6~U be eutitkd to applp at sny tjme du,ins
•ucb fo~eelosun ~uit to the oourt 6avia~ jurisdiecioo thcrcqf fo~ t6e sppwotmenc ot s recei~er ol al) snd dn~ulu tbe mo~a,~ed pcopaty~ aoa
of all ccan. ioooma. pro~n, iswes and nveaua cheraof. f~om R6aqoe~e~ ~oura derI~ed; and th~ceupon it is hereb~ uprealr oo~enanted
and aQreed chat t6e coun iball forthwith sppoiat ~uc6 ~cceiver with ths uwd poKers iad dutia ot ceairen. in likt ca~a; sad ~aid ap-
pannacnt ~Da11 be inade by t6e court as a maner of uria ri~At to t6e Mo u?d witbout refen~ce eo t6e adcquae~ or insdcqu~ oE t!e
•alue of t6e properp haeb~ morcya~ed, or to t6e soiveaer or inwheocp of e~ortsa~or or sq~r ot6er part~ defeadant to ~ucb wit. Tse ~
Mort~a~o~ henb specifica ly waiva cbe d~ht to object to t6e appoiauaeat of • reecioer o afonaid and he~y u~~iy ooou~o ebu ;
appoiatment shal~ be made a an admiaed equIq and as a maaer oE abwlute ri~6t ~o ehe Mo~asee aad tbat t6e wne map be doae aitMw j
nocice co t6e Mo~a~or. _
6. Thac if a,~ proceedin~s s6outd be insdcuced apinu c6c prope~cy oo~ercd br t6is mo~t~a~e uqw sa otbe~ liae or claim w~etDer
~uperior or junior M t1u liea of t!w wortQa~ t6e Mort~s~ce may at ib option inunedistelp upon Io~titutiou ~sucb snit or du~ios t6e peud-
encr t6eceof declue t6is rnort~a~e snd tbe indebtcdaas ~eeured herep~ due and p~able tort6wit6 sad m~~ at ia option proc~ed ~o toreeio~e
this tnott~age.
7. To paY att aad singutu tLe c~o~ kes, c6ar~a and ezpcaa o~ everr kiad, Indudins tbe oo~t of an abstracc of dtle to said land~ '
fouad to be conrenieat or ezpedieat ia oonaectioa wit6: aqt suit for tAe forecbsure of t6i~ and abo ioeludinL wbetLe~ tbe Moetpses ~
is obli~aced co pap same or aot. reswnabk aaorner's fea jncumd or ezpeuded at an~ time~ Mort~s~ee becawe oE tLe failare of tLe ~
MortQag~or to perform. oomply witb and abide by ali or aay of c6e w•eaaaa. ooodieioa~ tud ~tipulstioos of said pwmisory aote, or t6i~
~o~tgaQe. in the foreclosure of this aart~aQe aud in aoliadn~ the amount secured beceb~ wit6 0~ witLo~t k~t proeeediup, sod ~o n~im. ;
bune t6e Moct~sgre tor evcry pa~-mcat aQade or iaeurrcd for an~ suc6 purpose witb interat from date of eteqr wch paymmt at t6e rate of ~
ei~ht pee ceot (!96) Per annum; sucL parmenb and obliQsaom~ witb iatecat tLaeo4 as afocesaid~ s6a11 be sawred by tLe lim 6ereof. !
i
i. To keep tbe buildioa or buildic~s oow or ?ereafcer on uid land inwred a~aimt ias or dama~e b~ fice, aaended oo~ea~ss and
other perib. includia~ war rist inwrance if available, io a~nm ~na ias thaa thae tult i~urable salue u tLs co~t and e:pense of t6e Mort-
gagot ~n a oompany or oompanip appro~cd S tbe Moctga~ t6e polic~ or policia M be beld b~ t6c Matp~es, and sue6 polie~ or polieia o~
~nsuraace shall 6ave affi:ed t6ereto a Stand~New York Mortgagce Clau~e, making all lo~s or bssa uader sue~ poticr or potieia paYable eo ~
tde Mortgagee as its iaterest may appear, and to deliver said policy or paliaa to the Mortgagce wbeu issued wit6 the rscapb for t6e pay-
mcat of t6e praaium t6erefor; and in the event aay sum of moaep btcoma parable under suc6 poticy or policia, t6e Mortgagee ~6aU 6ave
tLe optioo to receive aod apply the same oa aooouat o# tbe iadebKdna~ secured 6ereb) or to ~g t
permit the Mongsgot to me;ve and we it, or an~
psrt tLereof. for other purposes„ v~itl~out thcreby waiviag oe im~airiaq aqp eqaihr~ Iien or rig6t ondtr or br ~irtue of this moct~a~e; and
the Mortgagee if it dcems aecessary may pl~ace and pay for such iasuraaa~ or any part thereof~ Pitbout iosia& waivia~ or affaa~eg Mort-
Qagce'i option to forecla~e foc breach of thia oovaiwt, or u?y put tbercof. or any right or option uader tLis mortgagq aod e~?erp suc6 pa~-
ment shall bear iaterest from date thereof uatil paid at t6e tate of eig6t per oent (!96) pe~ aanum~ aod all such pay~menb wit6 iotcrat as
aforeuid shall be aecured by the lien heceo£ In the erent =nr lau or damsge is suffered Mottsa~ar s6ap notifr Mortga~ee of web loa or
damage wit6ia forty-eig4t (4E) 6oun after tbe happening t6ereof; t6e failure to Q~e suc6 notiee s6dl oowtitute a dehuh and t4e Mort~a-
gee shali 6ave the rigAts 6ereia giret~ for all defaules.
9. To permit~ ccmmit or wffer oo waue aad to maintain t6e iaapro~pnenb at all tima in a state of ~ood repai~ and ooodidoo; ~d
~o do or permit to be done to uid premises nothing tbat will alter or change tbe use and eharacter uf said propertp or w aor wa,p impair or '
weakm tbe securit~+ of said mortgage. In case of tLe refusal~ ncglea or insbiUq of tLe I?tottgagor to repair and mainqia said propert~r. t6e ~
Mortgsgee aoay~, u ia op6oo~ make ~uch repaia or cawe t6e ume to be mtde and ad~anee monia in tLat beDslf wLic6 aims s6a11 be saured
by the lien hereof and bear interat ac the rate of eight per cent (!96) per annwn.
l0. To deliver the a6stract or abstracb of title au~ering t6e mortgsged pmperty to Mortgagee or i~s daignatcd sgrnt~ ~s6ieh abail at
all rime~ duriag tLe life of t6is mortga~e. remain in t6e poaasion of the MortYsgee and in e~ent of the foreeto~ure of this morcgage or ot6er
tramfer of title, all rig6y ti:k ~ed iaterat o~ t6e Mort~s~or in and to an~ nx6 abstract or ~bstnets of titk ahaU pa~s to the purchase~ oc ~
~antee. ~
11. 'I'I~at no ~eaiver of any ooveaant hereia or in the obG~atian secured hereb~ s6a11 at ae~ time 6ereafter be Leld to be a~ai~er oi
any of tbe aher terms 6ereof or of t6e oote secured 6ereh~ ~
tt T6at in order to aocelerate ~he mae~riq of che indebcednas Lereby saured because of ~e failure of ~6e Mon~s~or co w~ snr cu ~
aasaament, lisbility, obligation or encumbrance upon ssid p~npertr as 6erdn pro~ided, it s6sq not be naea~r~ oor requisite t6at tLe Mort~a~es
shall fi~u pay t6e suaa =
13. T6at if tLe Mortgagor sLall f~il. negltet or refwe for a period of tbicty (f0) days fully and promptl7 tu pay the amountt re- ~
qu;red to be paid by ~e nae 6ercbr .eeured or tLe interat therein spaificd a~ aa~ of t6e snm~ of moner berein referrcd to or bereb~ ~e- ~
cuced, or afierwise dnl~. ~lly and prom~tly to perform. eucutq oompl7 witL and abide b~ eacb~ ever~ or anr of t6e oorenaats~ aoaditioo~
or stipulariom of t6is mort~a~e. the prom~swcy nae herebr secured and/or t6e oomtcuaian ban sgreeooeat~ if snr. tbea, and in eitLr~ or ia
anr of sucb event~ witbout ootia or demand, t6e said agQregate sum mentioned ia said pmmistoq note~ les~ revious
anY and all sums menrioaed 6ereia or secured hereb~ s6a11 beaome doe and pa~a6le fort6wit6 or thereafter it t6e oontinr~~ pif auy, aod ;
Mort~aace as futl~ aad oampktel~ aa if taid a~regue surm wete originailp sti~ulated to be paid at snch time. an~thing m~iaid pnmis~or~ t
note or 6erein to t6e cootrar~ ootwitMtaodiny~ aad t6e Mortgagee sbail be enhtled thereupon or t6ereafter withoat aotice or danand to in- ~
stimte suit at lav~ or in equit~ to enforce the ng6ts of the Mortgagre 6ercunder or ander wd pmmis~or~ note. In t6e r~ant of an~ ddault
or brescb oo t6e part of t6e Mo~t~or bereander or uoder said pranisaorp note, t6e Mortgagee s6a1t 6a~e tbe oontiauina optioa to eniorce
paYrneat of all auma secured hereb~ br actim u law or by suit ineq
uiq oo fo~eciae t6is mortgage, eit~er or botb, eoocurra~tir or otherwis~ ~
and oae action or suit ~hal! aa abste or 6e s bu to or waiver of t6e Mortgagee's ri~Lt to imatute or mainuia t6e ot6er. prwidcd uid Mort-
gagee a6a11 ba•e only ons payment and satisfaetion of taid iadebtedaas. ~
14. 'Ibu io t6e event t6at Monga~or ~6a11 (f) ooment to tbe appoiutmeat of a reai~er. mstce or liquidator of all or a sub~tmtid ~
put of Mort~a~oe's a~e.b. ~(Z) be ad'udicated a bankrnpt or imoi~ent, or 81e a~ol~mtar~ pditim ia bankruptcp, or admit io writins Ib
laabilitp to p~~ Its debts ss tLe~ beoo~ne ~nq or (3) make a~eoeral wi~o~oent for tbe beuefit ot crrcdi~ors, or (4) f'ile s petitioa or aoswa i
•eekin~ ceor~ani:ation or am~o~ement witL crediton, or to take ad~aata~e of an~ imoi~mcp taw. or (S) 81e an answe~ admitting tbe eot-
terial aliegadoos of a petit'aa 81ed agaimt tLe Mortgs~or in any bantrupee~. reorganiutiou or imol~eoep Proteedin~ or (6) actiou s6a11 be
caken br t6e Mortgagor for tLe purpae of effaans nn~ of the foregoin& or (7) an~ order~ j~t or dacee sLall be rntercd upoa so ~
application of a ereditor or Mortgagor b~ a court of aanpetent 'nrisdlcteon appnovia~ a petition saekias appointment of a reeei~et or trume
of aU or a substsncisl part of the Mortga~oe's a~ets aod suc6 ~er~ judgment or daree iLaU ooutinue m~ta~od and in effea for aay pcriod of =
tbirq (30) ooosecuti~e darr~ t6e Mortgagee ma~ dalare t6e note 6ereb~ secvrcd fort6wit6 due and parabl~ wherenpon t6e principa! of aod ~
cbe iaterat sarued oo the note and all a6er sua» Lcreb~ securcd s6a11 beoaoe forttiwit6 dae aad pa~able as if aU of the uid s~wn of mooe~ -
werc origioally stipulued to be paid on such da~; aod tbetenpoo t6e Mort~a~a without noda ot demand mar ptoiecute a suit st lav~ and/or
in equitp as if all coonia ~ecurad 6eaby iud matured peior oo ib Imtitutioa
iS. 'Ibu the Mort~ee or any persoo aut6oriud 6~ tbe Mortga~ee ahall 6a~s tbe ri~ht to enter upon and inspax tLe mortp~ed
premises st all reasa~able tima.
16. Tbat ao~ sum or sums wLich may be baned oc •dvanoed br rbe Mort~a~ee ~ c6e Mo~a~or ac any ~ime wic6in :m ( i0) yea~
from che date of t6is iadeatu~e, ta~t6er wit6 iaterat thereoo u tbe rue s~rad npon u t~e time of suc6 baa or ad~at~, s6a11 be equallr st- ;
cured wit6 aad 6a~e the ume pnority as tbe ori~inal iadeMednes and be subjat eo aq the ternd add pro~isioas of t6is mortpae; pw?ided. ~
that t6e a~ate amount of princi~l outst~nding at any time ~hall aot pooeed aa awonnt tqnal to oae 6undred and fitt~ per ca~t (ISO%) of ;
t6e priocipal amount ori~nallr secured 6erebp.
17. 'Ibat, If requi~ed b~ Moetga~ce. tbe said Mort~or will pa~ aneo t~e Mortp~eG o4 t5e fint da~ of ac~ and e~ery oomecutire
moet6. a wmeq wl to ooatwelh6 of tbe annual amoant neca~aq ~o par all tasa and a~aoaeats s~aimt t6e said mortB~B~ Pranisa, ~aid
mon[61y sum N be estimated aolelr by Mortgag~ce and cakulued bo be an amouat not les than t6e amouat of tua a~aad agaimt said mort-
B~~ P~~ ~r the previow rear~ and if furt6er requiad- br Mortgaaee to par sll imutana prem~ums in maoaer and fons a~ peorided
6erein for tLe paymmt of. tua and asesmeub.
is. Tbst in tLe e~mt tbe lo~n wbic6 c6is mo i~ p~eo w~etoee b made foe d~e ~~po~e of fin ;
Pd ~ot a~ . ~ aoostruetioo
of ner~ bwldiap or t6e oomtruetioo of impro~rmeaq or additions ~n es~ius bnildio~s~ tre Mortp~. IE t+~qmred 6~ t~e INortp~
ezpraslr asrces to depait witb t6e Mort~sgee or ~b dni~nnated st~t an amo~mt of mooe~ eq~t1 eo ttie diHeteace between tbe nct peoteed~
of the ban and ebe total amouot, as determincd br t6e 1Kortpsce. nqmrea e, ~~y .,~a oomwa;ae ~,o~«a,p« .ric~ ~ a~.
and spaifications 6erecofore subaitced b~ che Mo~or :ad ap ro~ed br tbe Mo~rs. Said amonnt oE
Mortpgee in a"I.oaw in Procen Aooo~mt"' is the nsine af t6e ~~ur. and d~e same ti~sl! be wcd b~ tk~~ ~6ai1 b placed br t?e i
eDar~e and e:pensa iocnrred in aonneetioo with ~aid aoo~trncdoo pn~oru w di~burins ot tlis lo~n. It b furtber
a~~cd ttiat~ tbe e~~
,s;d oomcrueeioo is not full~ complaed on or beforo tLe due stued 1a t6e Coa~truetioa Loan ~r~n or ia t6e e~cnt ehu cbe ..ort ao
said oomtrnaion sball eease before full oomPle~ioo ~nd soe6 casatioo s6ai1 ooaiaue ior a peeiod e~ tea (i0) da or ~if sub~ancid ooetio~ww
De~rea shatl oot be made ie sac6 oa~stract~oo. t6en and in aa~ ~nd enat t6s a~id a~resste snm. PrinriW~ ~ tnteraa. mentioned in said ~
Pramisorr aot~ and aq monia seeured hereM. ~hall bec~oroe due and Pq~bk to~wit~ or t~ereafm a t6e optioo of uid Mort~gee: and In ~
cbe rmt of sue6 awtioo ~ work upon ~aid c+owtrnction for a ~a~ ~p~
~ads io ,ue~ ooortructiou, as sfonsaid. t6e Matp~e may st ita of ta (10) daM or if pro~res a6a1! not be ~
opeioo enter into ~ad upon t6e mortR pKmisa and oanpMe said aon-
rcr~cBoe in • wch maoner ar it deeaa adrisabk witbout aa~ iaterfsrenee fias ttis I~ert~a~or • t6e wd l~i~o~a~or 6enb7 ~~in~ ssd ~oi
tu e6e Mort~ee fuli power and autborit~ q make :oei eotr~ imb aad opoa aid morep~id pr~sa~ to eater i~o w~cb oootraen or u-
rwsaoena a~ ma~ be oeee~aer eo oompkte said oomtrnaioa. and w eipmd ~s~ aaoia nmaiat ja aid "Loam to P~ocas Aooount" ~ad
ia addieioo an~ smas of mooe~ neca~ar~ ev eompku ~aid aeoRroetion; aad ao~ aod alt mooia a~peoded b~ tbe Mortp~ee in ooonaYioa
wic! ~ucL oa~pktioa of e~oakruceioo in e~eeas of ebe uoonia ie uid "Loaa~ ia Pr~ooes Aooonet" iail be addcd w t~e uid pdncipai debt and
s6a11 drsw intenst at t6e rate prorided io ~aid promiaoq oote. and s6a11 be seeu~ed b~ t6i. moes~a~ ~od ~6att be par.bk b~ tre ~sor~a~sr
on eeoaoQ. ~
~~x i~f5 ~?,1E ~3~39 ~~o~ 175 ~F~334 ~
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