The URL can be used to link to this page

Home My WebLink About0848 . ~ ~ Z ~l./ S. '1'h~t io t6e e~ent of a suit bcin~ institutcd to fo~alae t6i~ mortQaQe, tde I?lort~a~te ~Sal! bc entitlcd to apply at any ti~ue durin 5:1Ct1 fOftCIO)U~! suit to the co~n ha~•ing jurisdiction tbe~cOf fur the appointmeat of a rativct of all tad ii~~ular the mongaged p~ope~ty, an~ of sll rena, incomes~ protits, issua and ~evenua thereof, from ~hatsoeve~ wu~ce derived; aad teeceupon it i~ 6e~eby e:p~asly tovcaaoted and agreeA that t6e court sball fonhwitb appoint such raeive~ ~sit4 t6e usual po+ren and dutia of ~aeiven. in like cua; and ssid ap- poir.imeot shail be made b~• the cuurt as a matter of strict rigAt to the :1lortga~a. and without ~efereace to t6e adequacy or iaadequacy of tbe va{ue of the property hereb~ morcgagcd. or to the solvenc~• or insolvency of the \longaQo~ ot anr ochcr pany defcndant to such suit. T3e ~ior~gago~ 6creby specifically waiva t6e rig6t to object to t6e appoiatment of a ~aeiver a~foresaid aud 6e~eby e:pces~ly consenq tbat sucb appointment shall be made as an admitted equit} and u a matter of absolute rieht to tAe Monga~a and t6at t6e same may ~e done ~~itbout no~ice to the \lo~tgago~. 6. That if any proceedings ~lauld be iwtituted ~gaiwt the prope~ty covercd by thi• moctQa~e upon aoy ot6e~ lien or claim w6etder superior o~ junior to ~he lie~ of thi~ mortdage, the Alortgsgce may at ia option immediately upon ~nstituuon of suc6 suit oc during tbe pend- e~cy ~hereoE declare chis mongase and t6e iodcbtcdness saured hereby due aad payabie fonhnit6 and may at ia option procced to fo~alae this mortgage. 7. 1b pa~ all and sin~ular the costa~ £ees, cbarga and e:pensa of every kind. including the cast of sn abstract of title to asid land~ found to be con~•e~ient or e:pcdient in connation acit6. any suit for the foreclo~ure of this rno~t~age. and alw includiag. whether t6e Mortgagee ie obligatcd to pa~• same or not, reasonable attorney's fees iacurrtd or espended at anr dme by c6e Mone.eee bccau~e of t6e. failure of t6e 1~lorcgagor to perform, comply ~rit6 and abide by all or an~• of t6e rnvena~n, toaditiaa aod ~tipulations o~ uid promiuory note. o~ t6is mortbage, in the forrclosure of this mortgage and in collecting tQt amount secured 6ettby wit6 or witbout Ie~al proceedia~aa„ aod to rcim- bur~e the `tortgagre for eve~~- pa}mcnt made or incurred for any sucb ~urpoae vritb iaterat fm+n date of every suc6 pa~~neat at the ratc of ten per «nt (10`/u) per anaum; such payments aad obligation~, with ~ote~at t6ercon u aforaaid, ~hall De secured by tDe lien ~creof. 8. To keep t6e building or buildings aow o~ hereafter on said laod insured a~tinst lass o~ dama~e by ~re. cztended rnverage and o~hcr perils. including ~rar risk insutaace if a~ailable, in a~um not lesa than their full insurabis value at the coat and e:pense of the Mort- ~;agor in a company or companies approved by t6e 4tongagee, tht policp or polities to be Dcld by tAe Mortgagee. and suc6 policy or policiea of in+urance s6a11 hact affi:ed theteto a Standard New 1'orl• l~Iortgagee Claust, malciag all loss or loases under sueh policy or policies payable to the 1lortgagee as its interc.t ma}• appear, and to deliver said policy o~ policid to the Mortgagee w6ta iuued with the rece~pes for the pay- ment of the premium therefor; and in the event any sum of money becoma payable under such policy or policies. t6e Mortgagee s~all bave t~e option to receive a~d apply t6e same on account of t6e iadebtedncu secured hereby or to permit the Mortgagor to raeive and use it, or any part thereof, for other purposts, Kit`out thereby a~aiving or impairing any equiry. lien or rig6t under o~ by virtue of thi~ taortgage; and t6e Mortgagee if it dcems naessary may place and pay fot euch insuraaee, or any part tsereof, ~it6out losiog, ssaiviag or a(fecting Mort- gagee's option to foreclose for breach of thie cavenant. or any part thereof, o~ any rig6t or option undet this mortgage~ and ever~ suc6 pay- ment shall bear interest from date thereof until paid u the rate of ten per eeat (1096) per annwn. and all sue6 pa~~mena ~si~6 iaterest as aforesaid shall be secured b~• the lien hereof. la ~he event any lou or damage ia suffered Mortgagor s6a11 notify Moctgagee of ~uch loaa or darnage ~.ithin fo~t~--eight (iE) hours after the happening thereof; the failure to gi~e such notice s6a11 constitute a dtfault and the Mortga- ~;ee shall 6ave the rights hereio gi~fn for all defaults. - 9. To permit, commit or suffer oo «ute and to maintain t6e improvemenb at alt times in a state of good repair and conditioa; and co do or permit to be done to said premiscs nothing that will alter or change t6e use and eharacter of said property or ie aay way impair or ~ceaken the secu~ity of said mortgage. In cue of the refusal. neglect or inability of t6e Mortgagor to tepair and maiatain :aid propert~•, t6e ~ioregaqce ma.•, ac its option, make such repairs or cauu the same to be made tnd ad~ance monia ia that be6alf ~hic6 suma aAall be ucured b~• t6c licn fiereof and bear interat at the rate of ten pec cent (10°!0) per annum. l0. Tu deli~•er the abatract or abstract~ of title rnvering t6e mortgaged pwperty to Mortgagee or its deaignated sgent, ..6icA s6a11 at all ti~nes, d~uing the life Df this rtartgagc, remain in t6e posses+ion of the Nlongagee and in eveot of t6e foralwure of t6is mongage or ot6er ;ransfer of ~itle, all right. title and interest of the 111ortgago~ in and to any aucL aMtract or abstrub of title s6a11 pass to the purcha~er or ~rantce. ~ 1~. That no ~.aiver of an> rnvcnant 6erein or ia t6e obligation secured 6ereb~ sball at any time hereafter be held to be a«aiver o1 ar~. of the ot6cr terms hereof or of the note saured hereb}. 12. That in order to accelera~e the maturity of t6e indebtedacas hereby secured because of t6e failurc of t6e Mongagor to pay any ta: assasment. liabelity, obligation or encumbrance upon said property a 6erein pmrided~ it s6a11 not be aecessary aor requi~ite t6at the Mortgagee ehail first pay the same. 13. That if t6e l~tongagor aLall fail, aeglat or refwe for a period of t6irty (30) dqs fully and promptly to pay t6e amounb re- quired to be paid b~• the aote 6ereby secured or t~e interest t6ereia apecified or any of tbe sums of mor?ey herein referred to or 6erebr ~e- cured, or otheniise duly. fully and proroptly to perfocm. ezecute, complr wit6 and abide by est6, t~ery or eny of the corenaoa. conditiow or stipulation~ of thia mongage. the pro+nissory note hereby seeured and/or t6e oon~truetioa loan agreemrnt, if any, theo, and io either or in any of such e. ents, ~cithout notice or demand, the aaid aggregate sum mentioned in aaid promissory noee, leu previow paymenta~ if any. and an}• and all sums mentioned 6erein or secured herebr s6a11 becomt due and payable fort6with or t6ereafter at the oontinuing option of tbe !?tortgagce as tully and completely as if said sggregatt sums vre[e originally stipulated to be paid at sucb timq anrt6ing in said promi~sory noce on c~rein to the contrary na«ithstanding. and t6c ~tortgagee shall be mtitltd tbereupon or t6ereafter without notice or demand to in- scieute suit at la.c or in equity to enforce the rig6a of the Mortgagee hereunder or under said promi~aorp note. Ia the event of any default or breach on the part of the Mortgagor 6ercunder or uoder said promiseory notq tLe Mortgagce shall 6a~e t6e rnntinuing option to cnforce paymrnt of all sums secured hereby by ution at law or by •uit in equicy to forecloee t6is mortgag~ either or both. coacurrmtly or otberwise. ~ and one action or su~t Yhall noc abate or be a bar to or waivu of t6e Mortgagee's rigLt to institute or maiatain t6e other~ pm~idcd said Mort- ~ gagee s6a11 6a.•e onl~• one payment and ~atisfattion of uid iadebtednaa. ~ 14. That in the event [6at Mortgagor s6all (1) rnoxnt to tl~e appointroeat of a raeiver, trustce or liquidator of ali or a substantial part of Mortgagor'~ aa~ea~ or (2) be ad~udicatcd a bankropt ot insalvent, or file a~oluntar~ petition io bankruptcp. or admit in wri[ing in ~ inability to pay in deba u ther beeome due. or (i) mate a general assignment for tLe beoefit of crediton. or (4) file a pctition or aaswu ~ee{cing reorganization or arrtngcment with ctediton. or to take advantage of anr iuwl~encr law. or (S) file an answer admittiag the ma- cerial allegations of a petition filed against t6e Aiongagor io any bankruptcp. reorgaaisatioo or in~olvencr proceediog, or (6) action s6a11 be caken by che rtongagor for the purpwe of effecting an~ of t6e foregoing. or (7) any order. judpnent or deeree ~6all be entered upon an application of a creditor or Mongagor by a court of competcot jurisdiction approving a petidon seeking appointmeat of a recei~er or trustee of a!1 or a substantial part of the Mortgagor's usets and suc~ order~ judgment or daree s6a11 rnntinue unstaped and in effect for any period of thirty (30) consecutive daya, the 141ortgagee may declare the note 6erebr secured fort6wit6 due and payable, whereupon the pti~ipal of and chc interat accrued on the note and all other suma hereby xcurcd shall becotae focthwitL due ind payable as if all of t6e said sums of moner were originall~• atipulated to be paid on suc6 day; and thereupon the Mortgagee witlaut ooea or demand may proxcute a auit at law and/or in equiey as if all monia saured herebs 6~d matured prior to its inrtitution. 15. That the Mortgagee or an. penon authorised by ihe Mortgaga ~hall 6a~e the rig6t to cnter upon and inspect the mortgagcd pr~mises at all reasonable time!. I6. Th:+t .~m- :~un ~~r culns ..hi~h mac b~ lu~ned or ad~-a~ced b}• the ~iort¢a¢ee to the ~Sortqa¢or at ang time within twenty !201 cearc ;:~•~n thr ilat~ uf this in~fenarc~•. to¢~•~hrr with !i1lCfP5I thc~eon at thc rate aerecd upon at the time of such loan or ad~•ance, shall be equally urrd N-I(Il Ail(I }1JC~' lllP 5dllil' }1fIOL1[~" :IS the orieinal indrbtedncss and be• subject to all the terms and pro~-isions of this mort¢a¢e; pro~-ided, ct:.~c thr .~eerr~.~tr .+tn~~unt of pri~~rip.~l outst.~nditi~ at an}~ til~se shall not e~ceed an amount equal to one hundred and fifty per cent ~,150',: ) of t,ie princip:+l arnuunt or:~in:~ll}- secured herebp. 1;. That, if required by 1~lortgsgee. the said Mortga~or v~ill par unto the MortQt~ee. on t6e fint day of eac6 and every consccutive month, a sum equal to one-twelfth of t6e annual amount oecesaary to pa~ all tua and ~~aeamenb aga;nst t6e said mortgaged premixs. ~aid :nunthl.~ sum to Ue cstimated solely b~• Atortgagce and ealculated to be an amowt not lea t6an the amouot of taza asessed ag:in~t ~aid mort- ~;aged premis~s for the pre~•ious ycar, and if furt6er reqwred by Mortgagee to pa~ ~Il insuranee premiwm in maaner and form as provided E herein for the pa~ment of tazes and assnamenb. 18. 'IIF~EKit~fYdc~W[iR~iK~diB ~gk~lruxli~ll9tlf~0'Xte~l~NC~tx Y~7mt3~u~l~tlhE~aoslemo~atfoa aabt]~o4ft]b]mL~(4~l~1C74~[9[X4(!l1~7[9~f[4~KR~c7[Il4[f[~J~R~9t„~lt~l~t~11a147ta[4UQlfEl4l~l~f~~~1lt~x~E~ct~M~`~lx~]lx~X!'Blllilf~C~]CR~c ~ ~ :spca~bc~awcaxo~~i~poxacaickxbexAtoaot~a9eaac3i~ ~t~uc~aemmmo~os~~~qc ~eoc ~sosearxl~c~uc ~ ~bt~e~d~aot~dsco6xxotodxa[oaoxocnx~d~ioor~t~~ ~ ~ xock~eoifiaoa~oaxboaao~foa~~sxacedtnciciutxbac~~c~oodc~~comet~c~On~arx~d~ic~ouo~~~maopoc~it~~OCit~xx~ic ~ ~FSo~~c~iaxx~iwcWxia~ci~ocr~c*~amnt'lcMx~~otfc~bcl6a~#ocl~t~cX~~~~~~x~e~ciqcxbacldox~p~rscm~~c~6e~aoo~cri x~cxadcx~c~ac. . ' x~oadsaa~idc~cc7i~~ox~a~oaaaat x~ai~xsoaQiurx~nd~c~nc~crdcx~ct~s ~idcxamo~ocfieaximcoat ia~Ean~xbe?c~btac~tt#M ~~mc~?Eeanooxx~c~xibexsnracx~~t~c~~ac ~ ~wudc~mmaoooc~ioac~totitx~acxi~af~wc~xlkxon~tateosw~~~mdcwwotioxxbtkaaaiamcee~6mcr~lx~fx~ac~~C~~ emsifx~euo~t~8at~t pco$oc~s~~icxa~cxrwdx~ioc~x~cx~axix~cx~M~xucAxkx~mmicxbca~ic~cWmoe~mc~oco~xl~k~kndciaoecaKxmKomc~~mc~calt gc~ ~f~~Itk+x~c~~R~A~x~E x~kf~lc~~lk~s:~~~4c~~l~~t li~~at~x~t~i#~1lotiat~xxxadcimc ~~~~~!~~l~C#~t R4t xqtlhk!ltEftR fbP~t 1m6tc~lk ~!l~f~x4Qltt«sR~aocRae~[~t~adl~d3c~btrR f!t x~tJtlU ~l~A~lix'!tk!! x1~ltsnt4Ac x~vi~rx~caQtvub~eaawd~avt~r ~ 4~4n~~~~~c~?4tlt~i~Rx7~o~Scsont06o~ s:a ~R~~R~l61t~lc ~ ~ lk7l4C ~ ~l~JC ~~~~~~iS~ )41C944[~[3i4tx9G1iJC71l~t}~9l~c149~719~lUO7[MO[ ~ 74Al~lC11tJC~kl4?SC ~9C A~!~ 1!lAt7l~dC7!!!* ~lK~}[lEX~[]d~~iL0~001~tiQld ~ ~l1K~c l4A9~X l4KA~.~4,~4~l~ ~~~M~d~~JC9l9f~l4txS44l~94~h~d~~~xat~cicacoo11o0C0~7osc ~~6~~1mm~doo~aoc~~~~id~o~[OOOm[~[)CGCx 7[DOWt Anfo~c'!c ~[YliB~pt~ilxdFKOC~ ~ ~k~ik~t~w~cicomcaxxoceb~~xx4t~s~txRx~~txuo~~eovs~afsic~c~tat4ki~x~t~rxdci~scs~wT~ts4cxadc~lalt~~~~b7~~~oi~ ~xtem~mo. ~ BOC'~1K ~.V~ r,1Gf _ ~ ~ ; . ~ ~ ~ ~ . ~ ~ ~ _ ~ ° ~w- - y ~ . _