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S.t ~hat ln tL~ ercoc ot ~ suft betn~ taxltutcd to fomloa thta moct~a~ the Mort~a~a ~h~li ba ~t3tled ta spply ac aay dme durin~ i
wci~ forecla~ure ~uit to the coun havtn~ jurt~dtccion t6etcqf for the appotatmcac af ~t ~em~er of aN aod ~Ia~ular the martBa~ed propeny~ and ~
a! ap rea», Iacomes„ ptofit~ t~wa and ~evrnua thereof, from t~A~tvoeve~ eource d~riered; aad t6eroupon it It hereby e:pres~ly COYtll~lltl~ ~
aad ~gcad t6~t t6e cou~t ehall foct~with ~ppotat ~uch receiver wtth the wusl porre~s and dudes af ccceiren.ln tike easa; and •aid ~p- E
pointmeat shaU De m~de by tde coun a~ a mntte~ oi u~ict right to tha Monga~e~ ~ad rrl~bout rtEerence M tEe adequ~ty oc Ioadequur of tbe ~
; ralue af chs property bereby nwrtgago~ or to che solvency or insolveucy of the 1Nong~~or or any otber psny dete~daut to~ ~uch wIt. The
' Mortq~gor hecebY ~peciiicaliy waivc~ the dght to objert co t6e ~ppatatraent of a raeiva a aSorteald and bacby ezpres3ly oon~ena that euch , 1
t ~ppotntment ~hali be m~de as ta sdmitted tquity and as a mAtter of abwlute right to the Mortg~~ce and thtt t6e ~ame may be dane ~rit6out ~
~ noticc [o tdr Mortgago~. . . ~
? 6. Tbat if wy prceeediaQ~ sbouid ba imdtutcd RgRicut the property covsnd by tht~ moct~age upon aay other Ii~n or clatm w6ethec '
~ ~uperior o~ juntor ro tht liea of thi~ martga~e t6c MoctQagee may at ia optioa immtdl~ttelY upon iastitutioa ot ~uth ~uit oi during tbe prnd- ;
ency thercof dcclare tAia mongaQe and the ia~ebtednas ~scured htreby due and payable fotthwith and may at it~ optioa procesd to fo~eclas , ~
thi~ rnon~age. . ~
~
7. To p~y all aad ~ingular the catr, fees~ c6~rQts and szpsase~ of erery klnd, includiag t6e cat of an ~bsuact of title ta tatd t~ads '
~ fauad to be conventeat or upedient In connatton wftb.sny ~uit for tDe forecfo~urc of thEi mo{t~age aad al~a Includin~ wbahcr t6e Mon~aga ~
Fr obU~eted to pa ~ame or not, reasoasbte attotaey't decs tacurrcd or expeaded at any dme by t~te Mon~agee bccausc of tbe failuce of the
Mortgagur tope r~onn, co?nply ~+it6 aad abide by ali Ot i[I~ of t6e covenaata, eoaditiaa and ~dpulatioa~ of aid promiaory notq oc t6is ~
, mortga~e, in the fareclosure of this f1fOCtQigO •qd I[i COIICCttlle 2bt ~JA011/1L itCll~ I!![tby v~ith or wttbout k~al proceedinjp, Rna to rtun•
buru tht MortYagee for evc~y paymeat m~de or Ineurted fo~ any ~uch purpose wit~ ioterat from date of every :ucb paymeat ~t the rate of 1
ei~6t pcr esnt (~°k) per annusa; ~ucb payments aad obltgatioa~ with iotecat tbe~eaa u afnradd, ~hai! bt returtd by tbe llen Dercof. 1
t. To krsp the buiidiaQ or butidings cwvn or Lercifter on utd (aad inwced a~aia~t iou o~ dama~e br fire~ emended to•ersge and
othec ptrit~, tactud~ng war ei~k tasurance if available~ ln a pum not la~ than thde fuTl insurable velue at the cat aud expenu of t6e Mort• i
gago~ in a comp~ny or compania approvcd b• the Mongagee, tbe policy or policiq to be 6eld by t6e Mortga~ aAd .uch poticr or poi,etes uf j
; 3 Iasuraoce shall hRVe afftxed tAe~eto t Staadar~ New Yoric Mortgagee Clause. maY.iag all !o~ or lo~sey uader sucL FolIc or polJcirs p:yable eo ~
thr Moregagce a~ it~ Interest may ~ppea~~ and to ddiver saId poliey or pollctes to d,e Mortgagce v+6en Is~ued with t~e rrcclpts for the pay-
~ ment of the premlum therefor; and ia the event any ~um of monxr becwnp payable uAder such policy or policies, t6e MortgaQee ihall bare ~
; t6e option ~o caeire iad appiy t~e samt on aooount of tDe Indebtednp~ ~ecured l+ereby or to permtt tde Mortgagor to receive aad u~e it~ or aay
> part thereof~ for other purposra, witLout t!?ertby wAlvlag or iro~airlns aay equtty~ ltea or ri ht unde~ or by virtue of t6is mortgage• and
t6e Mortgsgce iE tt desms naessary may place and pay for ~uch ~niuraucq or any part thereo~! ~vlt6out lo~tng, waivin~ or affecting ~uiort- I
~agee • option to foreclae for brsach of thi~ covenanr, or any part tbereof, or any right or ophoa unde~ this raortga~e, and every •ucb pay- ~
: rtieat ihall bear iaterat ftum datc thereof until paid u t6e ~ate of eigbt per ceat (S96) per snnu~a, aad all tvch payments ~it6 iaterat a
' aforesxid ~hdl be securcd by tbe tien huoof. Ia t~c eveut aay 1os~ or dsma~e is •uffsred Mort~agar sh~ll aotify Mortgagee of ~uch loa oc
_ damage withia fortyei~bt (4s) bouri aEter t~e happeaia~ thereof; the fajlure to ~ive suc6 nocia ~hal! constltute • dehutt and tbe Mon~a- '
gtc shall have tht tigha herein given for all defaulb.
. 9. To permit, oomanit or suffer do Nate sad to tnsintaia tbe impro~pasnts at tl) tImes ta a state of ~wd repair aad caaditiou; ~tnd
eo do otpe rmit to be doae to iaSd prtmi~n nabias that wUl alter or ekan~ tbe ws sad charscter of uid propeety oc in any way ImpaJr or
~ wraken tbs ucurity oE uId mon~a~e. Ia ca~e of the refwal, ae~lect or iaabiliqr of the Mo~s~or to r+~psir and maiotain uid property~ t6e
MortEsgee may~ at ia opfion, msks iucb repsin or cau~e t6e same to bs m~de wd advsace monies ia tLat btbelf w63cm aau~ sLall be ascured
by the iiea hereof tad bear i~terat at t6e rate of ely~t per ctnt (f96) per anauw.
4: 10. To dcliver the abmtnct or sburacq of title oo~erin~ tbe ~ortQaged property w Mort~a~ee or la dai~ated a~eat~ ~rhich ~6a11 at
~ sll timn. durlaQ tht life of t6i~ ~rt~a~c, ranala in the potsesuon of the Mott~aBee and la e~emt of t6e foralauce of tht~ tt~oct~a~e or otber
~ . . tcaaifer of title~ all riQht, title and intereK of the Mort~a¢or 3n aad to say such abKraet ot abtracb of dtle ihall paas to tbe purcbaser oc
f ; ~tntet.
~ tt, T3at ao waI~ec of sny coveaaat 6erdn or iA the obiJ~sdon secured 6ereby e~all at wr time 6eceafter be bald ta be a~~dver of
aoy o~ tbe otLer term~ hcreof or of the aote ~ecured 6erebr.
~ ' lZ. That in ocder to ~oseterate the maturiqr of the Indebtednc~ hereby secural becausE of tbe fallurc of t6e Martpgo r co pay any tas
_ asra~enent~ liabllity~ obliQatloa or encurnbrance upon uid pmperty as hecda pra~ided, It ~L~l1 uot be aenrnaq ao~ requlsite tbst tbe Mongases
sh~ll fint psy tbe wne.
' ~ is. T6at if tbc Mort~a~or ~La!! fai)~ nr~lect or retu~ for a pttiod of ttitrty (SO) dar full aad pro~ptly ~o pay tba atnonaa re-
_ ; quired to be paid by the oots becsby ~ccured or tbe ioeerat tbereia specifisd or aay of tbe wm~ ~awaey btceta ceferred to or acreb~ ie-
= ~ euad, or ocherwt.e dulr~ futly and praa~tiy to perEom~, aceeute~ ooa~plr ~i~ aad abide br eseL~ e.ery or aar o~ c6e eoreaaaa, eood~ciow
! or ~tipulaaon~ of thL nwrtgag~e, ths proanuaary aoce bercbr secu~ed aad/or tbe oooatrvetfoa bao a~reaaeat~ (f aar. then, and ia dtLes or !n
' aay of sucb avena, vtithout aotiu or daasnd, cAe said aggregste ~um mendooed Io said promiaory oote, ieu prev~ow ps,rments, lf snr~ aad
j• anr aud ~li •u~a wrationed hercia or ~ecured hrrebr aball beco~ne due aad paysble fortbwitb oe thereaher ~Z tI1! OORtI1111Ipg op~tfoo oE t~e
; Mort~a~a ss fully and completeir ~u lf said a~rcgate ~ums were oda,iaally sdFulated to be pald et ~uch d~aarc6tnq ia said praai~onr
nete or herela to the coatrar~ aotwitbatandinp~ snd t4e MortgaQee ~hall be eaptled t6ereupo4 or tfirreafttr wit ut notice or demsad to ia-
~ stitute iuft st law o~ iqeq ufty td enfor~e tLe ng6b of the Moctgagee hereuade: or uader ~ald pioraiawp ~ote. Iu t4e e~eat of say default
~ ~ or breacb oa tbe p art of tLt Mort g s g
or 6ereuader or under said pramisso ry not q th~ Mort g i Q e e ihaq ha~e the coa~tlauia~ a p c i
o a to enforce
payment of alt ~ums secured 6erebr b~ acdoa at law or br•u.it In ~eicr to foreclae tLb mortgage~ dcbar or both, aos~enneatly or aherwtse~
i aad one ~ction or suit a6a11 not abate or be a bar to or a lver of cbe~OftQf$K~~ 1'IQ~t~ ~A ~t1fh~UtE OT O11IptiJp [L! OtLiT~ prorlded ~aid Mort-
~sgee shall 6ave.only one payment aad sstisfaction of ~aid tndebtedaea.
: 14. TDat i4 tbe event tbu Moct~agor s6ai1 (i) ooment to the sppdnt~mwt of a ratl~er~ tnatce or lfqufdator of all or a•ub~taaHa!
` put of Mort~aQor'~ aa~ets, or (2) be sd!udltued a bsatn~pt or ia~ol~eat, ar ~ile a~al~~ut p~ddoa ia baakruptcy, or edmit to writing tts
inabiti to sJ iss debts as the~ beoome d or make a uusr~? p d
ty p ue, gcaeral api~nmeat for t6e beaeSt of credibo», or (4) file t petidon or ecsne=
~ ~etlcIn~ reorgsnisation o~ •rraoganeat wIt6 crtditon, or to tske ad~uusQe of anr iasv~reacq ian~ ot (S) ~lk aa u~swet sdioitdn~ the ana-
t. j tedsl sllegadoa: of s petltba ~ilcd a~ai~t the Mortga~or in aay bankruptc~~ reorQanlsatioa or ia~olreocp peoceedja~ or (6) sctiaa sliall be
, tsken by the Mo~tgs~or for tAe purpae of effectin~ anr of t6r foregoin~ or (7) aar orda~ j~d~rneat or daree s6at1 De entered upoa sa
. ~ app
licstioa o f a creditor or Mortgagor by a court o f eompetmt j'a r
i: dtction approv
la~ a petido~ ses h
dnt appaiatment o f a taei~er or trwtee
go
- of a!1 or a subuantial part of t6e Mortrsg~or's aaets and such order~ judement or decree sball oootlnue uc~ta od ~ad ia effea for an~ period of
j t6lrty (30) can~ecuti~e day~ the Mortga~ee may dalare the note bercbr ~ecured fort~wit6 dne and parsb~ wbereupot~ t6e prineipal of aad .
t6e interat aarucd t6e aote ~nd :I! a6er tum~ 6ereby recurcd sbs11 bcc~a~ forthwitL due sAd pa~~bk a, if sli of the ~sid swm of moaq .
~ were origiaa~ly ttipulsted to be pnid oa ~uc!? day; aud tbereupoa ths MoKga¢ee rrithout aotiee or danand reay praecute a~uit st taw aad/or ~
s: in equity as if all maaiea ~ecured hercbq 6ad matured prio: to id is~dtutioa.
~ 1S. 'Ibat tbie MoKgagee or sny person authoriscd by tbe Mortgs~se ~6a11 ~ara tLe d~4t ~o rnter upou aad l~apcet the wo~rtp~sd
. premi~s at aU rea~oaable times.
t 16. T6at aar sura or ~ums which may be loantd or advanccd by c1~e More~a~ee eo cbe MorcQa~or ss sar dmr ~?ichin isa (to) reae~
; from the date of thi~ =adrnture, to~ethrr ~sit6 tntere~t t~ereon u tbe rste a~reed upon u tbe dax of axb bau or ad~aaee~ s6a11 be eqoall~ u-
{ curtd with and 4a~e the same pdonty a the on~inal iedsbtsdoas aad be ~ubjea to ~tl1 t6e teRns amd proriiiow of t63a awit~+e; pmrld
that tAe aQgre~ste amoaat of pnocipa! outstsadinQ st anJr dme s4a11 not ezeeed aa rmouat equ~l to oae 6nadred and fifhr per aat (1509(0) ~
- c6e priacipal smount origiaally ~ecured hereby.
1 17. Thay if required br Morcga~ee, ~e .aid Marc~s~or will pa~ unco ~i~a Mocep~ee, au cbe Rr.e dq of ach sad e~ery ow~ecuti~e
mon~, a amaeq ual to one-cwelfch of c6e ~aaual amount aeca.arr oo psr ail -tasa sad ase~aena s~aia4t cbe saSd naortsa~ed Premtsay said
" moathly sum to be estimared solelr by Mortga~ee sad es{culsted Eo be aa amou~t oat !w than elre sawnot of taus s~a~ed ~a[mt aid moct-
Qa Q
e d Pr
e
m
lta for t
be prrriow year~ an d i f fu c t
b e r req u
i r e
d br M
o~iec to Aa7 a l l iasuriaee p r
s m iums ia maaaer ~ d !am a~ pro~id~ .
t btreia foe th~ paymsat of, tash wd ao~mtae~.
; 1~ 'I'rat ia tbe e~a~t tht to~n whicA dds~oct~ ~~t to rxure I~ madt td+r dit ~f &aaedas eitbes tbe eoo~ruetl~n
~ of oew buildia~s or tbe oocutn~ction o! Im e~osemeats ada
, or sddltioas ea d e
ez rer~tr s~ea to depaif~ witl? the Mort ~ ~~0~ eLep IM~~ if teqnite~t bp d~e Mort~a~ee,
F i~ee or ies daiptated a~aet ta aniouot of ~oa~~ pu~1 ~s t~e fftre~oe~ betw~n tbe aet
n
~ of c1u loao and the totai anwunt, a~ determiaed br t~e Mo~qa~ nqdred M laUy o~pi~ot aid ooa~trnedaa ia aacxdaact witL~~
u,d speci8catioas 6mtofore ~ubnitted b~ the Mort~e aad appro~ed by t~e Moetppe. Ss1d seweiat of aanr~ ~all be pl~ced b~tbe
i Mort~a~ee In a~ ta Proce~ Aceouat"•ta the aame of t6e A~fort~a~u~ sod t~e s~e sba11 bs wed b~ t~e Mortsasoe to pay t5e aMb,
- I~ eliar~es wd upeara iucurrcd ia ooaaadon witb taid ooo~truaioa p~to~ 1o di~bu~ a~f t6i~ toaa. ~ It b furtbet ap~ecd t6at L tb~ ereat
~ ~aid ooastructia? is not full~ c4mpleted on oe before t6e dste etatM ta t6e CAme:aetloa ~.oan or ia tre e~t~t tl~st t6e wa# p~
~ee~eeat ~at
: ~h p
i wtd con~tructiaa ~hall ecase before fuli oan tsstoo ~od ~uc6 ce~stloa shall eoadAUe for a pesiodAof oee (10) da os-!f wbKaAt3a1 eoadnuow
~ i proQ?as ~bsl! not be msde ta *ucr oon~tn~aioo, tLen ~ad in sa~ w¢6 s~sot de nid a~ate s~, PdociWl ~ iwt'e*ay meatiaeed ta said
? ~ promi~wry aotq wd all woota recured bereb~ stisll boeoRae due ~d p~sbk ~ett~wid~ or tMertaiter ~t tl~e optsoa ef isid ~+toct~s~ee• snd Ia
~ t6e e~reat of such ca~adon of work uv~ ~atd~ ooatrUCtfoa foe • pertod of tes (10) da~ or tf ~a~tsotial ooatia~ow p~+e~res~ ~bs13 no~t bt
; ; m.de in •ucb oomen~ccion, u aforaata, cbe Moce~a~e may u ia opdon eocer inco aad np«~ ctie t~ pre~isa aad oompkae saW eon-
; ecruai~on in wch maoaer as tt deana adrbai~k wit4o~k aa~ inte~Eereace fe~w trt ~i tis ~~i l~oe ~e~ebr d~t md F+~K
~ ! a cbe Mort~sgee fuil power aAd autboritr t~ a~ake we6 eotq iato aed npou atd :so~a~ed ea s~ua iato w~ ooatraea oe ae~
: ' rsn~aaeats a mar be escenar~r ta oompkce ~ald ooa~Rructioa, wd b apead sey wonl~s nrsddfa
a~aid "I.oair in Pnea~ Aooo~M" ~nd
; tn additioa aa~ swns of iao~ne~ oeceaarp to aowpleoe ~std oaattcvedon; sod w~ aad a!) uooola acpended b~ dk Mortp~ ie ooan~t~oa
~ wfrh such compktioo of eoatructfio~ in eua~ of eLe wodta ta ~sid ~'I.oaas ie Proce~ Aeoouat" ~isil bs ~dded ~ tl~e pid ni~dpal debt ssd
~ ~hall draw laterat ~t tbe ratt prorided ia sald Pto~or~ ~Mr, sod sha11 be ec~nred by d~is wortp=e, ~d ~Wt 6e Mysi?k i~ t~t Mottis~ot
o!f dtmfoQ. •
. ~ D~R' ~~.G~ ~~.;.~2~2
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