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! • f. 'Ibat id tns evccu of a~uie brln~ lnstituted to faralas t111s ro~ort~a~e, t6e M.ortga~ea a~tU bs eacidcd w apply at ~qy dme durin
es
~uth foral.~wre suic to tLs court haviag jurisdtcttoa tle:reqf for the app~Jaaneat of a receiver of all and ~In~ular the mortp~ed pt+operty~ sn~
i
j' of al! rc~nt~, iac~a, proli bsaa And revenua tbereof, from ~husoever wurce dc~ived; apd thereupaa tt I~ hercby apresaly covenaatid
's aad a~rcrd tb~t ths court ~ ~Il lonhKith t~ppoi~t ~uch raeiver NIt6 e6e usu~l potirers and dutda of receiven.ia lilce casci; znd utd •p-
• potntmeat ~6a11 dc m+~de by t6e court *s ~ miaec of ~trtct ri~bt to the Mort agtt a~d Nltbout reference to t6e ~dcqu~cy o~ in~dcquuy of tbe
~ ralue of tLe propcrty here6y raort~ag~, oc to ths eolveney or lnwlveacy of t~e Iu~ortYagor ot any other pacty defendant to •uch ~uIt. Ttie
. Mon~agor Aercby ~pecificaliy R~iva the dght to object to tha appotatmeat oE a receiver a aforosJd sad hutby tzpressly coasenb tb~t ~uch
~ppaintmrnt thalt be made u an admtttcd equity and as a m~tter of abwlute ri~6t to the Mortg~~ee and t6at t6t ~ame may be done wIthour
notice to t6e MortgaQor.
~ 5. 'Thit If any proctedtng~ should be instltuted agdau the property covercd by tbi• mort~ag~e upon any ot6er lien or claim whetht~
F~~ wperiar or junior to the lien of this mongtge t4e Mortgagee m~y at ia optioa tnunediately upon Iwtitutioo of ~uch tuit or du~iag tbe pend-
~ sacy t~ereoE declare t6ia mortgsge and the inc~ebtcdna~ ~ecurcd htreby due aad payab~e torthwith and may at ft~ optian ptatetd to foreclat
thi~ monQage, ~
~ 7. To pay all and ua ul~r t6e couti fca~ c64rge~ and e:prasa of every klad, lncludinQ tLs oat of an abitract of dtte to ~afd land~
; fouad to be convenieat or esp~ie~t tn connection ~ith.aay suit for the foreclaurd of tbii mo~c~a~e ~d alio Iacludin~ wLrtber tAt Mortgagcs
i i• vbli~ated to psr ~ame o~ not, resson~ble attorneyr~ ~fet~ iacurrcd or expeadtd at any tt~ae by t~e Mott~a~ee because of tLe t~flure of the
ee
: Mortgagoi tope rforcq compiy wit6 and abide by all or any of t6e covenaaa, eoudtdoes and ~tiputattans of asid promiaory ewtq or thts
` mortgare~ in tDe forectoaure of thit mortYrge aud in collecteng the amaunt u+cured berebr eitb or without is~al procetdin~s, ~tad ta reini-
4•~ bune the Mo~tgagte for every payme~t cnade or ineurred for any sucb purpose wlth iote~at from date of everr suc6 piymcnt at the rate of
~ cight per ant (E%) per annum; ~uc6 paymenes and abligatfow, with Iate~at tLereoa as aEocaafd, sDall bt ~ecured by tbe tien 6rreof.
To kap tbe bulldtag or butldlag~ aow on c~roafte~ on satd I~nd insured a~ainet Jo~ or damag~e br fice, enteadcd oovenge ~nd
other peril~ Iactudia~ wer riik tosursacr if availablq in a pum ~not te3~ than t6eir fui~ ia:uradle valut at the cat and x:pmse of t6e Mort-
# j gagor ia s canpany or compaaia appmred by th~ Mortgagee, t6e policy or poticia to be held by t6e Mortg~gee~ nad ~ucb policy or policle~ of
~ insurance s6a11 have affi:cd theceto • Stand~rd New Yorlc Murtgagee Ctause~ makiag all to~ or toa~a iender sueb Folfey or polieiei payable to
~ the Mortgagte u its Dnterest roay appear, wd to delivec iaid policy or policia to tbe Mongagre wheu i~n~ed nuh the rrceipta for the pay
mcat of t6e prcmium therefor; and ia the eqent sny sum of money betoma payabte uader ~uch poticy or potictes, the Mortgagee ~halt t~ave
the optiou m receiva aod appfy tbe same on aooount of t6e iadebtedne~ ~ecured hereby or to permit t6e Mortgagor to receive aad uu tt, or sny
~i part thercof, for other purpoaes~ witl~out thereby waivtng os itn~airtng say equity~ Uea or dght undec or by virtue of this awrt~age• and
th~ Mortgagee if jt dtems nc~ccssary may place and pay for ~uch ~nsura~~, a= any psrt thereof~ witlsout 1o~iQ& waivia~ or aEftchng ~4iort-
€ ~agre'~ optiaa to foreclose for brcach of tbia oovenant, or any part thereo~, or ~ny right or opaaa under tWs coort~age, and every s~xL pay-
= ment ~hRll bear Interest from date thercof uatil paid st the rate of eigbt per eent (E96) pcr aaaum~ ~d alt ~ueb paymend with iaterat a'
? iforaaid fb~ll be secured by the tica hercof. Iu tbe e~eat aay lou or dama~e ii ~uffeted Mortga~or absll notify Mort~agee of iocb loa or
r: damage witbjn fony-eJg6t {4H) boun sfter tbe h~ppeniag thereof; the fulure to give ~ucb aotice e!?all eoasdtute a default snd the Mort~n-
~ i ga ~hall 6ave tbe dgLts 6ecein ~iven for alt defaults.
.
, 9. To permtt~ crommit o~ auffer oo wate aad to malntain t!?e impm~aaeAts at all tima IA s ~tue of ~ood repaic and ~ooadition; and
to do ort~ rmit to be doae to taid premIse~ notWn~ tLat wU! alter or c6an~e the use aod ebarsctes of ~s1d property or In uny war icopair or
wesksa chs .ecuacy of asid moreg~ge. Ia csx of t~e nfusal, ae~lect or iaabitiq of tbe Mort~a~or to repalr aud maiatsln ~tid propenty~ tbe
~ Moneagee msy~ at Its opfion, make ~uch repsin or cause the s~.me to be msde snd sdrwce moaia iu that beAalE ~t~ich ~uau shali be arared
by tbe tim hercof sad bear interat at t6e r~tte of aQLt pet crnt (l9f.) per a,anwa.
~ , 10. To deliver the shst~act or abstrscn of dtle ca~ering tbe mortgsgt~ property to Mort~s~ts or ib dest~oated a~eat, ~v6icL s6s11 at
all timea, du~ia~ the life of thts snongaYe, remain in ebe po~sasioa of the Moct~agee and Ia esrent of t6e foretlaure of t6is mortea~e o~ aber
. traa~fer of title, ~11 dght, citle and interest of the Mort~~ot in sad to ~ny tueL ai~tr~ct ~ abstr~cb vE dde thsll p~w to tbe purcbaser or
; ~rantre.
s .
~ li. T6at no waiver of wp coreauu berein os in tht obU~uton ~ecured I~sreb~ shaU at aa~r ttae heceafter be held to be a wdrer e!
~ ~ any of tbe otLe: teraa~ hereof or of t6e note secured !?erebr. .
: .
~ t2. That fa order tfl aocetente t~e maturit~ of t6e iedebtrdaew 6tteb~r ucuced becauae of tys ~atlure of t~e Mortg~~or co p~,y aar tas
; aas~s~meat~ li~bility~ obl3Qation or eacumbraace upoa said pcaperty a~ berda provided~ It ~bal! oot ba neceaxq mc requi~ite ~bat tLe Irlortga~s
aball fint psy tLe ssmr.
_ , 13. Tbst if tbs Morr~a~ ~al! fall. n+e~lat or rcfwe for s perbd of thirty t30) ~qs fully aad piomptly ~o par tbe aiaouaa rc-
~ quired to bs p~Id by tbe note 6ereby ~ecuced or tLe Interat thectIa ~pecifisd or aay of tbe sua~ of a~one~r 6erein referced Qa oe ~ereb ~
euced, or otl~erwtee dulr~ fulty and prowvtly oo perfona, ezervt+~ oeraFfr~?ieh s~d sblde b~ eseb. every or sa~ of t$e ooreoant~, aoad~tfow
or ~puiadou~ of tbis moct~a~e, tLe prornlpory uote l~ecrbr ~aured sad/ot ti~s oon~tcuetiou {oaa a~rcemeat, if an~. cbeq aod in dther or in
- anr of sucL eveats, v?itl~out aotice or demaad~ cbe ~aid ag~repta sum mendoned In said prowi~.oq noee, te~ prevtow pa~ts, If any~ aad
aor and sil surm mmttaned berdn or ~ecured henb~ sbsll become due and p~pable foKLxith ot thercahtr at tbe eoatiAUina op~ of tbe
Moct~aece as fully and oomplstr[y s~ if said a~re~ate swas werc ori~iaally sa'pulated to be g~d st ouch ti~u?ythiag ta uiQ pnraiiwry
1 aot~e or hercin to the cantnq notwit6uaadia~ md the Mort~a~ee t6a11 be eatitled thereup~oa or tbe~eaket nit ut natice or demsnd to in-
_ stttute suit at lapr or iaeq uitr to enforce the r~~ha of tbe Moct~aQce hereunder or unde~ satd pra~siaohr aota Ia the evcat of anr detauh
` or breac~ oa the pact of tLe Mort~a~?r hereuoder or undsr saId promiswry aote, the Mortga~a ~ball 6a~e tllt COAtILWII~ optioa to mforoe
= : pannrnt of ~Jt sums kcund hercbr br a~cdon at ta~? or by eult iae~ uity to forecloae thls mert~e~ dtLer or both, cooeurrently or otberwise,
snd one action or ~uit shslt aot abste or be s bar to or waiver of the Mortgsgre'a d~t to iasritute or maiatain the otber~ pro~ided ~sid MoK-
peee ~6a11 ~ve oaly oae paymrnt sad aut~fsction of oatd iadebtednas. _
; ~ 14. T6at [n slac crast that Mort~aga r~hall (1) aoaseAt to t6e sppdntmeat of a ceeeirer~ trwiee or iiquidaoar of al) o~ a~nb~tsndal
f. i rt of Mortga~s saeb, ot (Zj be sd'udicated a bankrupt or iaeol~eay os 81s t rolwusr~ pedtba in baakruptcr or admit in writin~ t~
~ iaability co pay its debts a tl?r~? be~orae ~ue~ or make a~eaeral aaignmetu for tbe bwefit of endiwn, or (4) ~ite a pedtioa or ao~wa
; secicie~ reotQsnlzation or erraagemeat wit6 credio~r~. or to take adosati~e of aar insol~ee~r 1a~v~ o~ (S) fik sa uawer admittia~ tbe nos.
_ teri:t alie~aadaa~ of a petition filesf s~dn~t tDe Mort~a~o~ In any baakrupCc~, reor~aaisstion ot inaol~eacp proceediu~ or (S) ~ction s4a11 be
taken br tbe Mortga~or for che purpoa of effecdn~ any of tbe farsgofo~ or (9) ao~ order, jud~+rnent or decree ~ball 6e eatercd upoa aa
applicatioa of a ereditor or Mortgagor by a oourt of ccc+~apeteat juriidlccion approvlaa a petition ~eelrSn~ appoiutmsut of a raeirer or trustea
i of ~Il or i substwtial part of t6e Mort~agrsr'a ~t~ets snd ~uch order, jud@nrnt or deera shall condous ua~tared and ia effat fo~ aar period of
thlrty (30) ca,~ecuu.e day.~ cLe Monga~e~ may declare c6e aae 6erebr xcured foreh.ricL due aad para6l~ w6ereupoa tbe priacfpal of and
~ t6e interat aocrued on the noee sad al! ot6rr ~um~ bereb~ secored sbsll beooiue forth~ith dot uid paysble as if all of the uid ~uaa~ of moaer
• were oriQiaally stipulated to be paud oa ~ucb day; .a~ cb~ce~~ c~e Mor~Qa~ee r.icbouc nodce or danu?d rn~r pro:eco:e a.~ic ac Iaw and/or
in equiry as if all mo~nia ~ecuted hereby t~ad uutured prios to ita twdtudoa.
_ ~ IS. T6at tbe MortgaCee or any penou autborized 6~ tbe Mortga~e~e s}~ap hare the dQht w mtcr upon aad ie~pc~ct tbe mat~sd
+ ' p~c~uisca i"a Qii ac«i.:+:~:G «
~ ! .
~ ~ 16. Tl~at aar suw or sums rvhk6 may be baned or sdvaaced by tbe Mo~tga~a to tbe Mort~sqoe at wy time nithia tm (!O) Yean
~ from the date of dw iadrnture, to~ctber ~itb tatcrest t6sreon u ths rue agreed upon at the dme of wcb b~a or ad~at~ce, shal! be equsllr ~r -
cured with and 6a~e che same priority ae tbr od~in:l tndebtodaa~ ~nd be sub'sa to all tbe tcrm~ Rnd prorisioa~ of thi~ mort~aie: Pro~idt~
that t6e ~~ste amauat of primipsl oumanding st aa~ time shall nnt ~ sa awouot eqwl to ane 6un~tted snd fifty pe: cmt (IS096) of
~ the prindpsl amouet originally seeured hereby.
17. 'TAat, if required bj Monga~ee~ cbe uid Mon~or wtll pa~ uaco cLe Mocep~ on che ~inc dar of eaeL aed escryr ~re
mootL, a a,aueq ua) to one-tvrelfth of che snanal aawan: neceasr~ to par a11-tsta aad ssew~enb s~sia~t tbe ~d roortgased premix~ ssJd
; awnthlr ~um t be atimsted ~old y b
y Moet
g
a~
s
e and cakulated to be aa amo~me uot kw t5an tbe R
m a m
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g:
a s a ~ a i e d a~ a t d m o~ t-
~a~cd premi~n for tbe previous Tear, aud if fuetBes requiced by Mort~asee to pyr sil ieauraacs premtums iu mwuec ~d as proridad
. ~ 6~ r
s tn foe t~ p a
y t
o s
o t o
f, csu~s e a d ~awwmeam~.
1R That in tLe eneat t6e i~a w1~Ic6 t~b b~I~ to ~eeure b a~dt #oe tbe ~E fLaadni ~t4es tlie ooo~trncSoo
; of r~ , bujldIap or the ooastrucdoa of lmpev~ements~i
or addidoa: to ar3tdn~ buiWiap~ t6e~t oct~s~or~ ifreq~tred bp eLe I~krtsa~e~, .
~ ~pre~ir aQrees eo depodi~ r?ith tbe Mortsa~ee or its daiauated ~Qeat ~n ~iouat of ~aaty aqust M tss dlfftraee 6etws~ea tbe ~et jto~od~
t
of tbe baa sad the total sraoaat, a deterrntaed b~ t~ Mort~e~ reqsdrai ta fully ooanpleee ~aid ooe~tr~dar ia aooord~aos wtth tbe plaar
aad ~pocifitsdoa~ betetofore tubaateted bY t6e Moet~a~or and appro~ed bT tM Mas~e, 8std ~mouat of wowy shsll be pi~ed bp tbe
Nert~asee la a"Lww In Proces Aooonot" ln tLe nawe of t6e Mortss@cu. aad t~e same ~ha1l be n~ed t~e
n bs ~ e~ wr
~ oct
t slur~s sad e:peoses ineurnd In ~anaetloe with ~aid oos»trouioa pKior to dt~buc~i~~ of t6i~ bas. It b fuctber a~reed tbst 1~ the ereot
; ~ said oowtniction io aot fuitr eompleted oa or bc~ors tbe date ~tated ln the C' ~ ructioa I.o:a or t4 e~e e,reac etin tbe ~.o~t oa
; ~aid oonKruaion ~hati aue before full com fecioo sad ~~L ccwtion s1~aq ao~Jaue for a perbd o tea (10) darr oe•iE snb~qibctd eoa8auow
gro~r~ sh.tt noc be made ia •uc~ ~crn~oa, cbao aad io aar •ue6 ereac cbe a~d s~repee .~me„ p~iwi aaa i.cere.y a~cio~ed in .dd
~ : P~~7 st~d sll iaooia ~cured bc~eby~ ~hsll becorae due aad p~~abte ~o~N~f~6 or t6ere~fser ~ tiswaptioa ot t~id lrtortis~ee • asd ta
i ; tbe creat of tucb asution of work u said cowtructioo !o~ t reriod ~ te~ {10) dsr, or if w~taatial eooKooou~ pr+asrew ~bal~ nat be ~
made ta ~uc6 oomtnxtion~ a~ aforessi~tbe Mo ema st ib o
; i rti*~ 7 P~ eatcr law aad ~poo t~e Prad~a aad compkte ~aid oon-
muccloa in wcb maaaer a~ ic dees~a .drisabk wicLo~x .ar iatsrfee~euee from c6e Ko~a~or: ebs ~ale~~s~or yereb7 d+~s ~d ~dms -
; ' e~ tbe ~ fuli pcwer ud autborir~ eo make sqc~ enaj? tn~o asd npo~ aid t~setpsed ~o eater la~ ruc6 ooptracb oe ar-
: : rsAscmcab a~ mq be aec~u~ to aaapkt~ uid ooa~ttvetk~, wd es ezpead sn~ ~oeia tsmsi~qid "I~wa~ ta Proce~ Aa~oaat" ~?d
` i ta additiQa sn~ aums of owaer aeceasr~ W ooavpiete sstd aoartra~tioo; ~ad sa~ ssd all moo~a esF~~ M~~L~ ta oean~aio~
1 ~ wft6 sucb o~aplaion of ~troction in esrs~ of tbe monia in said "i,wn im procr~ Ao~o~nt" ~q be ~ddcd b tw aid ptiodpst debt aad
3 ~ ahaii draw interat ~t t6e rsce prorided in .aid pcoo~irwry no~e, sad ~bait be ~eeured br ~E. mo~ase~ aad ~iali be p.rs~k y crs ~
J ou dtmsno.
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