HomeMy WebLinkAbout2483 ~t • ~eeei~a ~t a1! aad ~lar tl~e s~rti+I+~ l~+P~+~T. a~i ~f atl reats. i~c+a~es. Ph6b. iaasrs asd te~c~es tAereot. from ~rb~t-
wenr »rroa deri~; awi ttiere~a lt a`ereL~ es~[e~if cweaarte~ si spsd t6~t tbe C~~rt sball (~etLwri~ sppoiat,fsch reeei~er
witL t6e ~sad p~.ra~s asi i~tjes d recei~s w i~ a•ases: ar aaii a~wi~tse~t a?dl le ~~is l~ tbc Ga~t u a~auu et suid ri~ht
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t~ tbe 1brt~~ee. a~d ~vitwat ade~ t~ tra sie~e~ s~ i~rie~c~ r[ tUe cd~e ~t ~Lc P~+Pat7 ~ercbY iu~n~e~. ec l~ tbe ~si~eaey
~r iwl~eaef t6e Y~~pes K aq Mk+r 1~rts iefe.ina t~ wc~ ~it. 11e YKtPiw ~T ~P~~b •?d~?es tbe risM to objeet
t~ d~s app~i~t~w~t ~~ec~t~ ~r ai~+i~ ari ie~a~is a!~'~+~7 swe~ts eVt we~ ~~i~ra~+rt sbaU ~s s~~ie M ss ~iq,eJ e9d~7
aai a~ ~~atw ~f ~l~tc ri~t M ti~s ]Mstitree ai d~t etie aa~e wl Le i~ws ~iri~t Mtic~s ts t~e i[wtp~K.
(1) It t~nd+we~ Phoeei4w ~1~ ie ia~tit~ei a~pidt ttie ~e~e~ eRe~ h ttiis ~wrtpse ~p~e aer ~tLer lka ~r elaiea whet6er
a11e~e~ l~ 1M ~t ~ N tLa lks ~i ~ii a~~ t~t 11~t~c'e td~ at 6is ~pM~ i~we~iatel~ ~p~n la~iilatta~ et weh
wdt ae i~ei~~~c d~ere~i ieela~e tkis ~tp~e a~i ~ee~d berel~ ~s asi p~jabk terthwdt6 aad ~wa~
~t its ~piw pe~eeai ~i~erel~e tiw ~t~a~e.
(e) 1'?~t t4 ~ will kee~ all eral a~i lers~rl teMat) w~ ~c Lc*eatter erca~l~~ei Lf tw lieo •f tLis mort~a~e ia~nred
a~ sa~ be req~ie~ei Iiw ti~e u ti~re ti tLe ]l~rtp`ee a~t IwL~ 6~ wi~Lt~c+~ ai Mier imrls. cawalties aaa e~otin~euda
fK arei-pR~i. a~1 i~e trt laE t`a. we~ a~t. r.s~ !e e.~.ir~i if tie lt~r+tMee ..i a D~l P~Mj7 w`en doe dl perrl.ma
hr ~~a~oa 7Le ar~tts ~I ~wr~ ral~*a 17 tie ]~s~ia~e~ s`aN ~e ~ie ~i~i~ss s~W hc wr~ic6_ said iaEnranee sLall
be ~eitte~ a~i 1t ~Il tie i~s?a~l tie YMt`~ M afi~ta wc~ ~i i~wssoe Y ias 6C ra~swq_t~ meet aa~l tompl~ -
f~U~ wttL atl a-i~wr~see repi~ts cwtiei i sii l~icia » ~6e e~i d~rt t6e wii bt~ctppr is aN a erins~ror tbereuad~e. -
Iewrase~ ~11 ie rreW~s ti a cN~e~ ~ c+~~ a~+~d ~r i~i b~~ aW all p~licies asii reaew~da tbcra~i
anp be 6d~ b~ tbe Y~ee. M ieta~c+i ~t~wt Lt tie lt~t~spr s~iei are ~ccepei ti tLe B[~see aod dl a~cesa~eat~
b~ Y~~e a~i l1~tp~ea rdati~ t~ iwr~c+. ~w ~~t ~rtQ ~aiG dnU be is rriRiei aai t6a11 be • p.rt of tLis
mutRa~e a~e~t aa MT s tLN~i ~et f~ei wArti~. Ls~ ai iall p~er~ tiM? peties Lents ae~ tl~ Wecessen and ~sd~na.
N~ liea y~a ~~f wY pdieies ~t i~~c+ ~r ~p aa~ ~ei~~ sr nare~ ~re~iu ~icL ~a~ be pa~able ow tLe eancellatioa ~r
cee~irtiN tktwt. idl tie st~es t~ ~tie~ t~ d~e 1lw~syea. ~ee~ b!~+l~* ~iK.e~e~t atS:eJ u ne6 pnlie~ ana .ppro.ed by .
M~etp~ee. E~ek. p~lier ~f i~wraee iaU ~nr a~ei ti«~ ~ S~a~i~ri he.? Y~rk ]I~rttster Cls~e wrid~sot Coatrib~tion. mdcin~ s
dl 4u ~r l~wea ~sier we~ ~iief ~~aYs r dte Y~a~es as is i~ta~ea~ ay sp~ar. lw t4 ereat as~ s~ .r wos •f inener ba '
e~se pqable t`et~esier.lLs ~/~etsa~ee iall L~~e dre w ~stdw ri y~plY t~e s~c ~s sccs~at ~i tl~e i~eMedneu hereby ~e• p
crrea. ~r t~ pasit tre 3[~tfp~K t~ e~es~e ri re ~r rf l+~t d~te~L ritL~t tLerey ~nirie~ ~r i~p~~ aa7 Moitj. lie0. or ris6t F
uder ana L~ ~tae ~E ttiis swt~a t~ e~e~t Lr ~~sid i~s~e t~ tLe r~«~p~~i ps~pat~ t~e D[~tttitK ~baU 6i•e im~
media~e a.Riee ~ae.f L~ ~ail a ae !~«s~s~ee ai ae Y..+p~ee ~.akc ~r+.I .f I.ss if eLc ra,.e is ne~ made ~romalr D~ ~ .
~ S[ottpjor. In ereat ~f f~reeMwr~e ~t di~ awtpe R M`er tra~.fe~ tiak ~ tLr Mrci~i~ i~P~7 is eitlnEuishmeat of ehe
iadeMedneES see~rea ~eL~ all ri¢t, titk sai iw~rr~eR ~f tLe ]L~t~ i~ a.d t~ a~s i~sva~et pdicieE thra ia force t1~al! pass to
. t6e parch~set ~r ~ra~tee.
(k) T~ parlKa~, c~plT w~id~ a~i aLiie ir~ eac~ ai e~rrT tLe si~irtiMS, a~~e~e~ts. cNiitiw ad eweaam• in said ptomiswrp
n~te aad ja th~ ~a~e ~ci f~tL.
(i) T6at if a.~ •i s~ii w~. .f ~.~es ~s .efaeti Le ..e ~..~~d~ a~i t~dl7 w+~ *~:tL in f if teen d.~. nen
aher ~he ~t~e anaallr Leaw~es i~e d la~~lie. ~r i~ Ms~ al e~e~ ti~e stipds~i~as. a~s. ceoiiti~ns aed ~o~eosot~ of said
graatisssri ne+te e~ tl~• ~w~t~ ~r ~ are ~a f~IIf le~i~ae~ e~tiei ~itr awi stiidd 1~. tie said sa~repte aam meMioeed io
aia pe~eiwry a~te si~U tieo~~e ie a~i rttaYe irtL~i~L K t~re~her at ue ~ptiN ~i ~ie iY~rt~g~~ zs fa!!j snd ca~gletel~ ia
ii ttie sria a~e;ate ts ~f s~ii ~ s~te ~ra~ Ki~i~aD~ ~te1 ts Le p~ii w wcl~ iap. aa~thie~ is said yromiuery notle
~i ba'ti~ U tbe ar~MCa~ sK~.i~L~ardi..~.
(i) YbaR i~ ~e~der c• aoeelerate tie ~ut~rit~ ~f tie i~ieLeir I~eL~ Ksarei. Leea~se ~f d~e failae •f ~e ~[•rtp~er to pa~ snr
ta. arareat. liabilit7. ~ K~~e ~l+~ ~!~'~l~7. as ~rea ~rrriie~ it a~ll rt Le ~~r reqnisite t6at tbt
1[~rtpse~ ~hall fint p~r t6e sa~.e_
2. It is ~ aa~+eed tbat t~e is of tbe ereac+e of tLi~ oaeuset asi that no wu~er aE an~ obligation here-
andee or af tLe obliaatioa ~ee~+ed bereb,~ ahall at ~ ti~e t6ue~iter be hc]d to be a~?airer of the terms hereof or of
the ~t ~ecured he~+eb~.
3. The Mottaaaee aaa~, u his optioq ~d rrat~sut ~~ai~ Li~ ria6t to sooelesate the ind~btedne:s hereb~
sa:ared and to forecloee tLe ssmy Pa7 a~tber bdoc~e ar afur dd'mqoeee! asT or all of tho.e oert~in obli~ations
reqnired b~ the ta~ms hereot to be pa~d by the l[a~or tor ~ proieaioe of ihe mort,~aae ~ecurir~r or ior tbe col-
lectio~ 6f-tb~ indebte~es ~-ae~:-A~-s~a-so-adtaeoed~naid~_tbe M r~a~ee shall be char6ed into
the mo~rtaa~e aooo~mt aad beoome m iate~al p~rt thereol, ~jeet ia aD r~specb!u~ t6e
terms, ooudihons, a~d
ooveoants c?f the afor~said p~o~siroa~ net~ a~d t~is ~tas~e, as fa11~ aad ts the ~ame e:tmt a thonah : part of
the oriainal iadebtedaess e~idc~oed b7 said aots aid ae~d L~ tleis ~ bowe~er, that said sums shall -
be repaid tLe l~ort~ee fortLwith apoa ic~ desa~i a~d be ~ sdditioa~n~vLr meathhr installmmta provided b7
the mort~e noty and e~+er~ we6 iedeLtedee~s aLaII bear iaterest frm aate at the nu o~' tm per ceatnm per annnm.
4. T6at thc abbtract a: abstracb d title oa~u~iaa tbe ~t~ed propat~r ~aD at aIl tiaus, dnrina the life of
tlw mort~a~e, r~aia in poESe~sia~a of tlre l?1o~t~ee asd ia t~t of tLe fa~erlasnre of thi~ mortaaEe or other tranafer
of title t
o t he mort6a~ed pcopert~ ~ e~tin~ai~ast of ~e ~tedoess sec~red bereby, aU riaht, tiile and interest
of the M~a~r m aad to aa~ wele ab~tract d ti~le :6all pa~s t~ t6e parebase~r ar arantee.
S. To tLe e:tmt d the iadebt~daeas of t~e l~artaa~r to tbe Mort~ee de~eribed berein or secnred hereb~.
the Mortaasee is hereb~ snbmaated ta tbe ~ or lie¦s aei to t6e ris6ts aE tl~e o~rnen and 6olden theno[ of ach
and ever~mort~e, liea or oth~r ~emobraoe~ oa the l~ dereribed herein wLieb is paid aad/or satisfied, in whole
or in part, oat o~ tlie pr~ooeeas d dre io~a duer~ed `anea ar ~eear~ed bcreb~, ~d ibe nspecd.e li~s of .aid mort-
~aE'es+ Zieas oe other imeo~braaoea, s6aD be a~ t4 s~~e a~d eacb of tbe~ ~eb~ is preses~red md shaD paa to and
be hcld b~ t6e ]iort~taee 6ereim ae eeeariq for tbe i~lebtcdsns t~s tbe ]i[ert~e besein deK~ibed or hereb~ aeeored,
to t6c same estest tbat it r?onid ha~+e bee~ ~~ei aei w~o~fa 6a~e bee~~ to a~d bern heZd b~ the Mortaa6ee
haa ,t ueea ad~? ana ~..:~aea, ~«~ea..a v.a, ~.a da:.~~ ~sa tLe Morc~a~a b~ kp~T.u a«ra o~
u~f~ament, aocwitLa~ !'aet t1~at tLe ~a~.e ~+e~r be satide~ a~d eascel~oi a[ ruord, it be~a the inteatioa of
tbe partia hereto that tLe eame w~71 be ~atidied ~i ca~oe]jei af :+eeo~a bl t6e 6o~de:s thereof at or abont the time of
6. In the e~ut t6e o~roership d t~e mort~aei P~'~~ ~~T P~ t6areof, beeo~mcs vested ia a persan other
than the Moct~or, the Mo~t~aaee ma~, witbo~t aodoe ts tLe ~Iortaasor. dal with wcb iacc~swr or eneoawn in
iaterat witL rderenoe t~ tlw a~ort~e ~ t~e de~t L~seb~ ~ee~+ed, ia tbe ssae ~ as ~rith the Mort~a~tor wnt6ont
~~7 ~7 ~6 dre l~ort~r~s liabalit~ ~anem~dar ar npaa tbe debt hereb~ atcured. No sale of
~ P~~ ~7 ao tocbeara~ac aa tbe ~ af ti~e Yor~ee, and ao rzL~sion of the time for t6e
pa~rmeat of tl~e ~ebt 6aeby ~e~e~+ed ai~+ea b~ tLe j[~6~E°~ 'L'u ~pa~k to r~e~ discLar~e, modifl. ehanae or
iJfect tbe o~ liatiilitl ef tbe Yoe~taa~or Leim wtioie o~ i~ psrt.
7. Tl~e liea ~f tb» a~ort~+e aeeanes ai a~i.aD a~ti~ ~ re~are parmmt aE said indebtedness however e~i-
deaced, ~er ~ sai~ ~ree~iswrT ~vte ~ aaT n¦enal ar e~ioe t~eof ar wb~titnte, therefor, or othetwiae,
tmt~ all anch indcbtedner a1~aII bs~e l.eea inII7 P~-
8. 1'6e terms "Mort~" md "~o~taa~ee° wbe~e~er ~ei ia this ~t siiall i~lnde tbe heira, persond
repreaentati~es, weoea~o~rs aHd ss~i~ns d tLe re~ectii~e p~ties ~er~ ~cr ~ed tbe ~Lr nnmber aball in-
cl~de tbe plural and tbe pl~al tbe aa~a]ar. sa t4 a~e ~f sp 6ea~ier ~LaII i~dode aII ~eende.rs.
9 It is ao~ea~ated and ~at sbao3d ti~e ta~s aE a aeat~aae ~perior. ia di6oiq to thit of tht herein
oi
de~cribed mort~a~e be modif' alteted or ~aried, wit6o~t tbe w~ittes earc~t ot tLe )dort~taaee herein, thea and in
ench e~ent t6e l[«~aaee bereaa ma~, at i~s optio~, ~eeLre tbe isdeLtedaea~ ~ee~a+ed b~ this mort~a~e to be all dne
and phablG
10. T6is ia a purchase money secor~d d~;~
- ~ ~i~' s 2~~ ~ p~:
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