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Thu ti~ tbe avent of a wtt btlu~ iaKituted to forocioe~ thts awrtsasr, tb~ M~~ ~1f bs sodtkd io ap~ly u aay tune dur~ns
•uc6 foreria~ura ~ult to tDe c+ourt havia~ jartedic~iaq ti4tte~f for t!?s sppoJAtmtnt oE s ~er o# ~11 ~ad dn~ulsr the inon~a;ed Propetty~ and
of al! rente, iaoowes, profin, i~suts ~n rev~~a t!?ereof~ fro~u ~Aaqoeve~ aurc^e de~ired; iad tbeceupoa it u 6e~eby e:pres~iy cavm~ntrd
and a~reed that t6a coun ~b~ll fortbwitb appoint •ue6 recetvrr wic6 t6e u~ust powrn aad dutia of raelven.la llke taes; and uid ~p-
polnt~eat ~L~l1 !~e made by the court u a muter of u~ict right to tbe Mong~~es, ~nd wiebouc afereace to ~Ae .dcquuy or tn~dequscy o! t6a
n
0 7 t~
•alu~ of t,e pe~opcccy 6e~eb mo~ a~ or to tAe wl~eac~ or Insolvsacy of t6a Mort~ag+cr oe rar other p~rtr dcfeadant to ~ucA wIt. ~'be
MTortga~or Lerebr ipecific~lly'raive:~s right to objtct to tbe appotnunent of ~ rtceiver as aforesatd snd 6ereby exprtuly ooast~n that wch -
appotatmtat shill be ruadt u sa ~dmttted equtty aad a~ a mstter of sbsolute righ! to tha Martgagce and tLat the ssme may be done aithout
notice to the Moctgagor.
6. 'I'hat lt any procesdla~ ~hould bo tastirottd a~alest t6e pcopeny oove~ed by ehi, awrtQage upoa aay otDer Iien or claJr$ wbetLer -
•upe~tor or jualor to thr lier~ of tht~ mort~a$e tbe Mortga~ee mq et tb optioa immedlately upoa twtituttoa of zuc6 auit or durtnQ the pe,nd-
ency thueoE declare t6is raonga~e and the indebtcdnew stcuitd 6ectby due and payable lorthrTith aad way at (ts opdon proceed to forccle~e
thi~ mottQage. •
7. To pay all and ~ta !ar the coit~ fea, e6}rga aad espeox~ of every klad, Ineludiag tDe o~t of an at~u~~ct of tldc to said l~nds
fauud ta ba convenieat or ezp~leat in connation witb.aay suit for tl~e forecloaure of thU wo~t~age~ snd alro tncludlug, R6tt~er t4e Moct~a~et
ia obli~atcd to pay ~ame o~ aot, rcasoasble attornry'~ ~fca tacurred os e:peaded at sny time by the Mon~a~se because of tDe iJlure of the
Mort~aQor Wps cform, canply NIt~ and sbtde by all or any of the coveaaoq, coadltioos sud sdpulat3oas og tatd proral~ory notr, ar t63s .
~nort~age, in the foralwur~ of thk mort~a~e and iu colleccin~ tbe unount ~ecured 4ecebr with or Rit6out le~al proceedipg~ u~d to reiM-
bune the Mort~agee for evtry payQaent wadt or iacurred for any euc6 purpose witL Iate~at fm~a date of ewery ~uch payraent at t6e rste of
d~6t per ceat (~96) psr annum; ~uch psyuuats wd obliratio~ wltb Iottrat tbereae~ a sforwsld, s~all be ~ecured by the liea bereof.
t. To Icap tlu bu1ldtae or butidlnp now ar bereafttr oo satd laad lneured a~alu~t loso or daiua~e b~ fire~ extendsd ca~era~t aad
other perit~, taclucliag vrar ritlc insunnce if arall~ble~ ia ~~uca 'not la~ th~n thdr ful{ iraur~ble value u ehe c~at and e:pease of tbe Mort-
ga~or in a ~ornpany or maapanla approved br the 1Vtort~agcc, t~e potlcy or potidp w be 6efd by tbe Mort~ssc~ ud tuc6 poltcy or policia of
insurance sLa!! 6:ve aff~:ed tbereeo s Stsadird Nsw Yoek Mart~agee Clswe, malcio` all bu or la»a uader ~ucbpo Uey or poticies payable ~o =
the Mortgagee as its interat may sppeaq aad to deliver said policy or pelicia to the Mortga~eee wbea iaued witl~ the nreipb for th~ par~
ment of the p~emium tbe~efor; and ia the eveat aar sum of moner becnmr.~ psrable under ~uch palicy or policia, t6e MortgaQa s6a11 h~ve
tbs optioa to retel~e and apply tbe same on aceount of t6e Iadebtedne~ ~ecured liereby or to peraatt tDe Moctgagor to receive and ux It, ac aay
part theceof~ for ot6er purposa, witLout tbercby v~aivia¢ or impairia~ aay eq~iq~ Uert or r~gbt ~aadtr oc by virtue of thi~ raortQaQt• aed
tse Moregagee if it dcems aecesiary way plur and pay for ~ucL In,~uraACq, or say part tbereof witbout lalag, waivio~ ar affectia~ ~iort-
~aQee'~ option to forec{a~e for breac6 of t6f~ coveaant, or ~y part tbereof, or say rJ~6t or optiou uadei t6ls awct~a~e, aud tvery •uch pay '
ment shall bcar intenst from dste t6e~eof undl psid st the rate af ei~t per ct~t (=96j ptr amwa, snd all ~ucb paymeab r?itb Iotereet as
aforesaid ~haDl be secured b the Ucn hereof. In the eveat any Ios~ ~r duna~e I~ ~uffertd Moet~a~or sliall notify Mortga~ee of sucb taa or
damage withia focty-right ~4t) lwun after the happeaiag t4ereof; t6e f+ulun to sive iuc4 notite ahalt eowtitute t dsfauh uid tae Mort~a- t
gee ~hall 6rve t6e ri~hhq 6ereIa ~iven Eo~ aU defaults.
, 9. To peeaalt, commit or wffer ae w~tt sad to maintda tbe fcnprovemccb at ai! tIma in a ~late af ~ood repaIr and ooodDtiop; and
b do orpt rmSt to be done to tsid premis~es aothin~ t2~at will ait~r or c6na~e tbe ux sad chsracter of said property or in aay wsp impalr ot
~ weaken the security of ~sid uwetga~e. Ip Cif! O~ tbi itElpai~ IIl~IEC~ O! Ipiblllty OE Lbi Mo~t~or to npsIr aad maintaia tald properry~ tbt
~ Mort~agec may~ at ib opfioa~ make •ucb repafn or causr t6e aame to be made aad sd~sace roonia in tLat beh~lf rrWc1~ num shali be socured
~y tbe lien hereof sod bear interat at t1?e rue of d~ht per cent (!96) per ~anum.
10. To dettver the abtract or abstracts of $tle oorerin~ tbe mortQa~ed properry to Mort~a~ee or ib dedpated ~qent, ~v6ich ~6s1! at
, all times~ durla~ the life of ebi~ moct~~e, remaIn ia tLe poae~swn ef the Moct~a~a and ip evcnt of tbc goreclaure~ of thi~ awrt~a~e or ot6et
j tra~fer of title~ ali ri~D~ title snd interest of tLe Mortga~or in and to sur such abKraa or ab~truq o¢ title ~ali ps~ eo tLe punhs~er ot
~antee.
~ 11. Tbat ao waiver of aoy covcuant ~eran or in tk obli~adoa setured htredy ~1s11 st a~y time 6ertafttr be @eld to be a ws,iva ol
auy of the othrr term~ hsreof o~ of the ~te sccured her~bf.
j 12. That in ordsr to ~?ccclerate che mscuciq of e6e iadsbtedne~. 6ereby.ecured beawe of ~he fdture of cbe Morcp~r w Qay s~r raz
~ ~taaunrnt~ U~bility~ obUqatiau or encurobrusce upoa ssJd propert~ a~ 6erdn prorided, it ~bsl! not be aacenaq nor rcquisits t6at tbe Mortgsjee
, sl~~11 fint pay t6e ssraa
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! lf. T6at i~ t3se MottQa~or s6a11 fdl, ne~ktt or refws for a period of t6in7 (f0) dqs ftelir sad pi+aaptl~ to pay tbe amouaq te-
quired ta be paid by the. eote hsreby ~eeured or ~be ioeerac c6erda ,p~dHe~ or ,ay of cbe ~ura. o~ mo~ey 6etdu referred to or berebl so-
:f cursd~ or otbuwi~e dul~. fuUy and prom~tly to perform. eucute, aompir witb aad sblde br escb, every oe anr oE tbs oovenant~ oooduloar
or ~ti ul~tians of thh awrt~s~e, the proc~~ory note btreby oecured aad/or ~be cooeen~aioa ioaa ,~ree~aen~, if ,wr, tbcq snd in dther or ta
e
any o ~ucb evrnce, witbout notics or danaad, tl~e sald ~um metetioaed IA satd prae?i~ot~? note, lea pcevioas payme~, if mr~ aAd
' a?nr sad sli aums menda?ed beceia or ~ecured 4ereby as~U~~becaoe due snd pa~able forthwith or t6enaher at ~be ooac~nuin~~ of tbs
' Mort~rQee as fully aad coaopletely as It sajd ~re~ste ~u~s rsere ori~inatty stiputurd to be pstd . Rt sucb rt~ aaything in aid prwni~soq
; aote or 6ereia to the coatrsry notwItlutaAdia~ and tbe Mort~s~ce tha11 be mtitkd thereupou or tbereafter wit6out noaee o~ demadd to iw
~ ~titute suit ~t law or ineq uIty to eaforce the ri~ha of t6e Moet~agee 6ereuader or under utd proa~i~rr uota Iv t6e erent of an~ defautt
~ or breach on tl~e part oE tbe Mortgs~or 6ecsuoder or unde~ rald p~aaisaory twt~ tLe Mort~a~et sLs!! bare t~e ooritfnuin~ optio~ to wfora
psrrasat of sll swns secured he~eby by ~ction st law os br ~uit Ineq utt~r to foac{o~e tht~ mottga6e, dt6er or both, coacumatir or aLere~isq
xnd oae actian or ~uit shall aot abate or be a bu W or ~waiver of the Mortgagee's dg6t to iasiitute or maiotaia t6c otba~ provided atid Mart- i
aagee ~6att 6ave only oae payuoent aud utisfecdon af said ;ndebtedaas. ~
: 14. T6at in tLe erent thu Mort~a~o r~al) (1) oo~ent w tbe appolntmeat of a~ctdrsr. tnntee or tiquidator of all or s sub~tandd ~
put of Mor~s~o~~ a~ets, or (Z} be sd udicated a bsalcsupt o~ iaial~ent, oc Sle a~rol~uatar~ ~
~ inab,~;c~ c~ wr ia ae~c... e~r ~~ue, or (3) naake s R+eaerd wi~ fo~ tbe beoefit o~f
e~r
dio~act,~~t (4
cr~ilers petidon or smna
; ~cetior reor~aaisuioo or arrae~ement wltL ereditorr, or to take ad~anta~s of sny ia~olvenep lan, oc (S) Sk an uawer ~dmittias tbe ms-
~ teriai ailegaaS~ee~ of a petidoa filed s~aiast the Mort~s~r io any bankn,y~~ reor~snisatim or inwire~ proceediny or (6) action ~Latl bs
takea by tbe Mortga~or for the purpae of effectia~ any of t~e fore~n~ ar (7) anr atder~ jud~rneat ot daree shsll be entered upon aa
applicatloa of s crsd~ror or Moctaagor by a coart of oompetes~t !'uri~dIction apptovla~ a peHdoa nekia~ appoiatmeat of a receirer or tnt~tee
i. of all or :~uhotancial part of t6e Mortesgoc'~ asets aad ~uch arder~ jud~meat or daree shall oootiaue uastayed aad ia tffect foe aay period of
= ehirer (3A) con~ecud~e days~ the Mortgaqee may declare tDe aote 6ereb ~scured fortbr?Itb due sad parable, w6erevpon t~e prind 1 of aod
t~e ttuerat secrue3 on t6s note sad ail a6cr eums bsreby secursd thsll
beaoane focthwit6 d~e sad pa~able a if aU of the s~id s~
of n~oaer
, were ort~iaall stipulatsd to be paid on ~ucb dar; aad tbereupoa the Mort~a~ee rithout aoda or danaad ma~ proiecute a•uit u!aw sad/~
ee
in cquity at i all moata ~ecuted bereby Lsd maturcd prbr W iq Iq~dtutioo. ~
' 1S. T6at tbe Moct~a~ee or aay per~a au~Soriscd b~ tbr Mort~a sb~li hs~e tbe ri~ht ~o cater upon and impoet tbe wort~a~ed
- premiu~ st all rea~oaable tima.
~ 16. Thac sa~ ~um or ;ums wLk6 may be loaoed or advsaeed br cbe Moc~s~ ~o rLe Ddoresa~oe +~c aor ria4e ~t~hi,a eea (io) ye.n
; from the date of cfu~ tadeatur~, w~ethes ~rttb interat shereoa u tbe rate sgrecd upon at tbe eims o4 wcb ban or sd~ eq
: cured wft6 and bave che ssme prtorit~ a ttie orf~aal iadeb[cdaea and be ~ubject to aii cl~s terra~ aad prorb3ow of ~ shatl be uatl ~e-
; t~at cLe s~re~ste amouat of principal oumandtn~ ~t aa~ time shall not aoceed w smonat equ~l to oae hnad~ed aad Sfqr per
~~•(IS09G) ol
ths priucipd ~a~ouat ori~inally eecused herebr.
+ 17. ~bst, It tequited by ~Io~t~te~ t~e ~std Mort~s~or will 'q un~o tie Hat~a~c, oa tie fiau day of uch ud erer~r coa~wdre
° moat6. s wa~ usl to orx-t~elft~ of tbe anoua! amouat naarar~ to pa~ all -ta~a ~ud ia~a~maab s~ia~t tbe s~id mo~tnicd P~a. sai~
~ nwn~Liy ~wn abau~ed ~e1e1r by Moe~.~ce and cak~,lued ~o be sa u~ uoc te~ e~an cLe am~ a~ a~ a.a~d s~ ~id ~o i~
' ~s~e-d Praaisa for t1~e pmrtow year~ and if fu~tier re+q~ired b~ I?4ort~a~es oo pr~ all iwursoee preadua~ !n maaae: aud ae pro~idtd '
-3 berein fos ths pa~t of, tssa aad a~a~.
+ l a. in rbe era~t tb. lo.n ,r~tcb ad.m~r~ d~t.a ta .eca,~e b o~de troe ew of Ra,na.s .h6es tLe ~
' ot ncw bulidia~ w tLe oowtrvaioa of impeoveaoeaes ads or addittoaa eo+~~ baildlnp, tM , if r~d y tM
; r~pra.lr agrea co depo.ii~wic6 d~e Mocrp~oe ar fa dat~auad s~eat aa aaioaot af aeo~ey ~qw1.a~~~~ ~ ~ie a~t ~
; of tbe bsa aud ebe toal sawuat, a deaereniaed b7 t'M Irtortssse~, ta fnlb? ooaq3~e~ qW oeoitereda~ b a~rdasot wte~ tL~' pta~
; sod ~petificatioa~ ~eretot+o~e submitted bp tbe 1?Zoctsa~oe aod a~ bj~the Irjostp~t. sdd amonat aE moe~~ ~ialf bt p~aoed br tit
. drSort~a~ee ia a'Zosa~ Iu Pe~xeN Acov+:~t" ta tbe uaa+e a~ du ~soe, aal eM a~e ~s11 6e med b~ ek I~o~ia~et ~o pq cLe o o ~ e y
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: ~std coauruet~oa i~ not fully oompleted ea oe befoet t~t ~te uatsd iq ttw LoaA ~1~reemeat ~ tn tL~e eneflt t~at tbe w~rt oa
; ~aid eottscruetloo shal! eaue before f~ll compktion and w~b cas~tion ~atl ooadaut t~ t
a pabd t+~a (10) da o~•;f ~taa8wl ooatiauoa
' pe~o~m~ sbsll ant be made ia ~wb cawt~tiv~o, ttiw sad ia sa~ wd~ tnat t~e atd a~repta smro, p~tocipal ~ iatereat, roeatiaied ta s;id
i pcoa4ioor~ ooee, aod a[I mo~ta ~cured rereby~ ebsl) bec+aas -dw sad panbk ~t?ide or tAsreafter u tbe o
~ the erent of ~ncL ceuatk~ of wort u ~atd oomtrnaba for s ~~~d
enade in sucb ooastnxtioa, s~ aforesat~tbe Moct~~es m~ st id eto (10) daM or if w~taatial ooetlnuow prosra~ ~4a11 not bs
, etnutiaa in ~ enanaer n it dtsmt adr~bk witDout sn~ interfa~ h+~n~ ~
MJ
qi~ tLe taid P~ ~P~ ~aid ooa-
~K . A'fonta~pr MeKby dr4s and ~aotto~ .
~ eo tLe Moct~a6ee full power sad antlw~It~ eo make sve~ tsuq lnto aod opon tdd mo~tYa~ed to eater joto wc4 e~~tr . or ~
s ranQemencs a ~aar be naa~sr~ to oo~pkte sald oon~t~nedoo, aad w a~pe~d ~ny wooia ~emaf In aid '7.osa ia Pracsa
; !a addidoa wr ~ucn~ of raoner oaa~srr to oompiste ~sid oaa~tructt~; sod sa~ aod sil moaia apeoded b~ t6e Mortpsee ia aiae~ectioo
t?itb sucL complaion of ooa~tructioa ~n ezcas of the a~wata ia ssid "Ioaaz ia Ptoce~ Ac~oount" s6a11 bs sdded to ek astd priaetpa! ~ebt ao~
~ ehal! draw iaterest st tLt aate pro~ided t~ wtd p~+orn&ior~ aote, aot! shsll be ~ecuted br tbb aoottss~e. sud ~iail be psyabk by t4 )+~rt:s~ot
~ ~c~K 1Q~~ Pac,E 2