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4 tfus mortpaps ~s p~rson~l to tM Monpapor Mre~n. snd no conv~Yanc~ s~all b~ mad~ by Mort9aQor ol ~M pr~m~s~s h~rt~n d~scnOW or sny part
chereot nnthoul h~~t obtau?inp iM ptwr wnlt~n cOns~nt ol iM MOrtpayN In tM ~wt+! Mort~qN pwes th~s wntt~n tonN~t. tM pr~ntN nam~d ~n such con-
~e~~nc~ Mall ~asurt+~ and a~N to pay tM obl~patwn w~o~nc~d Dy tM pomusory not~ s~cu~~d MrMy. Any conwya~u ot tM prop~rty Mr~~n d~unb~d or
any part iMr~oi ~n vwlslwn of IM t~rms ol tA~s pa•~prapl+ sMii ~n~~th Matpap~~ to ~ccN~~at~ th~ paym~t+t oi tM oblpation s~wr~d Mt~by ~nd NI wms of
mon~y s~cur~d Mr~by shaU. ~t tM optwn of Mwtpaq~. b~som~ dus and p~yabl~ aod ~n d~IwM wMtMr or ~ot tM s~m~ u~ so dw and paY~b1~ and ~n ;
de?aut~ by tM sp~c~(~c t~rms Mr~of. NotM~q h~n~n contun~d sha11 b~ co~atrwd to contt~tua a novation o. ~~Ha~ Mwtpa~or a any ~uD~pu~m owne~ ot ;
I~sbd~ty Or oblroatwn unMr tM prom~ssory not~ s~cur~d Mr~by or tMS motipyp~ by n~so~? ol tM dw~sad atwmptcon ot tM obl~p~t~on unde~ tM note ~
sacwsd Mrsby. by • tubs~Quent own~r ot tl?~ p~operty d~stnDtd Mr~~n ~
5 th~t in the w~nt of a w~t beu+9 initrtutsd ro 1w~close tlus nwrt~aQ~. t1+~ Matqa~ st+~ll b~ ~nt~thd to appl~r ~t ~ny t~rr+~ durmq such forec~osure ~
su~t ~c tM court havinp ~ur~sd~ctwn t~~r~ol la th~ appo~ntment ot ~ r~cs~v~ of all and s~npular tM mon0ap~d prop~rhr. and ol all r~nts. intomes. profits
~ssues and revenues tMreot, from whatio~w~ sourC~ denvld. ~nd iMrtupOn ~t ~s h~tfby ~xp?~uly COnWMntld ~nd ~p~~ld tA~l tM COUrt fhall (orthw~tA sp- ~
pomt such rsce~wr w~th the uwal powers ~nd dut:es ol rec~~wrs ~n hke us~s. and ta~d ippomtmMt sMH M n?acN by tM court ss a matie~ ol su~ct r~9hc to ~
cna M?rt9~qee. s~d w~thout nf~rsnce to the sd~ouacy a~nadeQuacy ot the v~1u~ of tM prop~ny Mr~by mwtp~~sd. or to tAe solv~ncy or ~nsolvsncy oi tne
Mortg~po~ a any othar pucy def~+d~m co wch su~t TM Monyspor Mr~by spsc~t~cally wa~ves tM nqht to oq~ct to tM sppo~ntment oi • rece~ver ss
afwss~~ and her~by ~xp~eufy consents tAat wcA sppomtrt+~nt sh~ll b~ m~de as an adm~tted pu~ty ~nd ~s ~ msttK of ~bsoluts npAt to the Mortgagee and ;
~h~t tM sart» may bs dane vr~thout not~c~ to tM hlwtpa~ ~
6 TMt ~f sr.y proc~ed~n~s should be ~nsututsd ~pa~nst the p?operty covaed by th?s mwt9a~ upon any otMr INn or claim whather wper~or or ~umo~ ;
to ths I~en ol tAis mortpa~e. tM MwtpapN may at its eption ~mmed~~tely upon ~nstitutwn of wcA w~t o~ dunn~ tM p~ndencY thsrsot det~sre t~~s mortgsge ~
and [he indebtsdr?sss sscured Mr~by dus Md payabl~ lorthw~th and m~y at ~ts option poc~ to tor~cbst Mis matpps !
~ To pay all ~nd s~n~ular ths costs. fees. charges and e•pemes ol ~wry k~nd. ~ncludmp th~ cost of sn sbstrac~ of t~tl~ to ss~d lands tound to De con• .
vernent or ~xpsd~ent ~n co~+nsctwr+ with any su~~ for tM foreclosure ol tFxs mort~ap~. and also mclud~np. wMtMr th~ Mortqa~e ~s obl~yatsd to pay same or
no~. reaw~ible anorn~y's fe~s ~~curr~d a~xp~nded at any t~me by th~ Mortpa~ b~c~us~ of tM i~ilur~ ol tM Mo~tpapa to perform, comply witA snd ab+de j
t>y all or sny ot tM coven~nts. con0itiw+s and st~pul~t~ons ot sa~d prom~ssory not~. or tl?~s matps~s. ~n tM toretbsun of ttus mo~t~sps and m couect~n9 the ~
amount seCUred Mrsby w~th or w~thout le~al procesd~nys. and to re~mburse tM Mortp~~s for ewry payment m~ds or ~nturred fa any such purpose w~t1+ ~n-
carest ~rom date ot every such paymant at tAe h~phest rs~e auihor~:ed by I~w. such psyments and obt~gauons. vmth mterest tMreon ss storesa~d. sh~11 be
secured by tM I~en Mreot .
8. To ke~p the bwld~n~ or bu~ld~ny: now or heresher on sa~d land msured apamst loss a dam~qe by firs. s:tend~d coveraye snd o~her penls. ~n-
clud~n9 war nsk mw~snce ~f avs~labl~. ~n ~ wm not less ~hsn the~r lull ~nsur~ble vatu~ ~t tM cost ~n~ ~:psnse of tM Mort~a~or ~n a comD~~Y a rompames
approved by tM MortQa~ee. the pobcy or po~K~es to De held Dy the Mo?tgaQes. and such policy a pobc~es o( mwranc~ shall hav~ ~H~:ed theroto s Standa?d
Ncw York Mo~cgagee Clause. mak~nq all loss or buss undar wch polrcy or polK~es psyable to the Mortqsqee as its inter~st may ~ppesr, snd to del~ver sa~d
pof~cy or polecies to the Mortga~ee when lswed w~tN the rece~pts for tAe peyment of the premium tAereior: and m the ewnt any sum oi money becomes
payable u~de~ such pol~cy or pol~c~es. the Mongsgee shall h~ve t1» option to rscs~w and spply the same on account o/ the ~ndeDtedness sacured t~ereby or to
Qerm~t the Mortgagor to receive and use ~t. or any pan thereof. for other purposes. vintAout iMreby wsmnq or impamn~ any equity. t~en or nght under or bv
v~rtue of th~s matgage. and the Mortqagee i1 ~t deems necessary may place and p~y la wch ~nwrance. a any p~n ther~ol, vmthout los~n9. wa~wng or aflec-
c~ng Mort9aQee's opUOn to loreclose !or brsacA oi th~s covenant. a any Rart thereof. or ~ny npht or optron under th~s monQs~. and evsry such payment shan
baar mterest irom date th~reot unt~l psid u the h~ghest rata auchon:ed by law. and ~II wch paymsnts with ~nterest ss ~for~ss~d shall be secu~ed by ~he I~e~ I
~ercot In ths event any bss o? dama9e suHsred Mo~tqagor shall not~fy MortQapee ot such bss w dsmage w~thin torty-apht (481 hours shsr ~he happemng ~
` thareo}: tM faifure to g~vs such noUCe shail const~tute s defsult and tAe Mort~aqee sMll hiw tM n9hts hare~n qivsn iw ~II def~ults ~
~ 9. To permit. commit or suHer no w~tt~ and to mamte~n the improwm~nts at sll tim~t m~ sUb of ~ood rtpair and Condition: and to do w p~rmrt to '
be done to sa~C p?amises nothing tMt will alter or cAany~ the uss and charact~r ot said propsrty or in any w~y impair or weak~n tM sscurrty oi sa~d mortpags
;n case of the ~eiusal. nefltect w inab~l~ty o( tM Mort9agor to repa~r snd maintsin said p~operttr. tM Mort9a~e m~y, at rts option. m~ke such rspa~rs or cause
tne sams to ba made and sdvancs maniss in th~t bel~ali wh~ch sums shsll De s~curod by tM lien Mr~of and bsar mterest at the h~ghesc rate autho*~:ed by
~aw ~
J 0 To delrver the abstract or abstracts of t~tle covenng che mortga9ed propsrty to MongapN or ~ts des,gnatsd spent. whKh shsu st all t~mes. dunng
~ne !~fe o( th~s mortya~e. remam m the postetsion o~ the Mortysqee snd m eveM ot the !orsclosurf ot thrs matssy~ or othsr transfar of t~tle. ali ngAt. utle ine !
' n~erest of the Mo.tgagor in and to sny suCh abstract or abstracts ot titl~ shall psss td the purcfiater a grantse. '
1 1. Tnat no weive~ of any covsnsnt hsn~n or in ths obl~pat~on secured Aereby shall at any time here~her be held to bs ~ warvsr of ~ny ol the other
terms hereot or of ths nots sscund Mr~bY, or (uture w~iv~r of the same covenant.
I 12. tAat in o~der to accelente the matunty of the mdebtedness hereby sewred because of ths (ailurs o( the Mortpayor to pay sny~ as~ssment. ~
i~abzliry, obligarion or encumMance upon said proaerty ss Mr~m prowded.it shall not be necesssry nor requisite thst tM MortQaqes sh~0 (int psy the same
13. That il the Mortpaflor shall fait, nsalsct or roluse for a p~nod ol th~rty (30) days fully and promptly to pay the amounts requ~red to De pa~d Dy the
~ote henby seCUiad a the intersft thers~n tp~ciiisd or any o( the sums oi money hsre~n re(errsd to or hereby secured. or oshsrw+ss duly. tully and promptty to
; pertorm. sxecut~. comply with ~nd ~b~d~ by ssch. ~wry a•ny ot tM cov~n~nts. conditions o~ stipulatwns ot this mortp~q~. ths prort+issory note hereby
I mecund ~nd/a tM construCtion loan a9rNm~nt. if ~ny. tMn. and in e~tMr or m~nr ot such w~nts. wrthout notics a d~mand. th~ s~id ~~wats sum men-
t~on~d in ~aid promissory not~. Itu Dr~viou~ WYm~nts. ii ~ny. ~nd arry' snb aM wms m~nt~on~d Mrti~ or skund Mnby shall tiscome du~ and paysble
fonhwiM a th~nafur at tM cont~nuinp option o1 cM MortpapM as futH ~nd completshr as ii s~id pprpau wms vwn oriQinauy stipl~lat~d to be p~~d si
such tirr», anythinp in wid promiswry not~ a Mnin to tl?~ contrary rwtwitMundinp. and tM Monp~~w shall ba ~~titNd tMnupon or tMnsftsr wichou~
i nctic~ a~m~nd to institut~ wit ~t law or in puity to ~nfo?c~ tM ripAt~ ot LM Mottps~ h~?wndK or w~ said pr'om~ssorY not~• tM ~wnt ot ~ny ,
! dai~ult a bn~ch on th~ p~rt oi tM Mortpayor hKwnd~r a un~r sa+d promi~wry not~. tM MatpipN shM h~w tM oontirtuinp option to ~ntora paymsnt
~ nt ~II wms s~a,r~d Mnby by action ~t law or by wit in puity to forsclow thia monp~p~. ~itM? or poth. concurnntly a otMrw~s~. and one action or su~~
~ shrll noc abaa or b~ ~ bar to a w~iwr of th~ Mortqap~~'~ riQht to ~n:titut~ or m~int~in cM other. povid~d ta+d Mon~~w sha11 hav~ only or» piyment and
~.eUShctiOn of said ind~bt~dn~sl.
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~ 14. That in tM ~vsnt that Mortps~or ~hall (1) cons~nt to ch~ appointm~nt oi a nceivsr, tn»tN a liquidata ot ~11 a a wbstu+tisl part ot Monpego? s
E eesat!"o`r 12) b~ ~djudicat~d a bankrupt or insolw~t. or t~l~ ~ volunt~ry p~tition in bankruptey, a admit in wrianq its inability to pay ia d~bts as tMy become
i du~. a(3) mak~ a q~r»ral asaiQn!n~nt lor tM b~n~fit oi u~ditors. w 1~) fi!~ ~ p~tition or aruvwr NMeinp tsof~anizatioA or ~rrarp~m~nt with ersditors. or to
~ t~k~ adv~nta~ ot aMr insoiv~ncy I~w. or l6) fiN an ~nswN admittinp ths mat~rial allpations ot ~ p~tition 61~d p~inst tM Mort~a~ in ~ny b~nkruptcy.
;eorpanix~tion or intolvMCy procNdinp, a(61 action ~?all bs t~ksn by tM Mo?tpapa for th~ purpow of ~ifectin~ any oi tM torpanp a(71 any order. ~udg-
~ msnt ot d~CtN ahall b~ ~nt~nd upon an ~pplication of ~ u~ditor or Mortpspo~ by a court of comp~tant jurisdiction approvirq a p~tition sNkinp appointmen!
~ of a ~~v~r or trustN of all a~ wbst~ntiN p~n oi tM Mortpspor's asHts ~nd wch ord~r. judpm~nt or dscrN shall eontinw unstay~d arM in ~Hect (or sny
~ panod of thirty (301 cons~cutiw days. tM MortyaQN may dsclan tM not~ her~by s~cund iorthwith dw and payabl~, wMnupon the pnncipal oi and the ~n-
; ierest aaru~d on tM not~ ~nd a11 ~tha sums Mr~by'sscur~d ~haN b~com~ forthwith dw and pay~bl~ ~s if ~41 ot th~ asid wms of mon~y wer~ or?q~ns~iy
~ •cipuiat~d to b~ p~id on weh day: •nd ttmwpon tM Mortpap~s without noticy a demand may pros~cut~ ~ wit st Isw a~d/or in pu~ty ~s if ~11 mames
~ sscursd Mnby had m~tured prior to its institution
~ 16. That tM Mortpaq~e w ~ny p~aon autAaii~d by tM Mort~aps~ shalt hav~ tM rwAt to snttr upon ai~d ins~ect the m~rtpsQ~d premeses st all
~essonabls t~mef
16. That any sum or wms which m~y b~ banb w~Qvsncsd by tM MortpaQse to tha Mortpaqa at sny time anthin trwnry (20) years from tha ds~e
at this irfdMtun. to~th~r v?ith int~nst tMrson ~t tM rat~ aprNd upon at Me tirt?~ 01 wch loan or ~Qvanc~. shals br pualf~r s~cursd witn and haw th~ same
pr~ority ~s the ori~inal ind~bt~dn~ss ~nd b~ wbj~ct to all the t~rms and provisans of th~s mon9ape: prov~d~d. thst tM aQpnpat~ ~mount of pr~nc~pal outstsn-
din9 ~t ~ny tim~ shall not ~xtNd (S 1. or it the precedinq b1~nk is not completed. tMn an amount squal to or» hundrsd ~nd t~fty p~r esm
! 1509L) oi the prinupal amount ai9inally Hcursd hereby shall app~y
17. That, ii nquub by Monyepee. ths sa~d MonQ~9or w~ll p~y unto th~ Mortp~pse. on the fint Gay of e~ch ~nd swry consecutive month, a sum
eqwl to on~-tvwlhh of tM annwl amount n~csssary to pay NI ax~s ~nd ustsam~nts ~~mst tM sa~d matpap~d p?~m~s~s. u~d monthly sum to be es~
~~matsd soNly Dy Mortyaps~ and calculat~d to be en ~mount not I~ss thin tM ~mount o( taz~s ~ss~ssaG apainst said mortp~~d pr~mises tor cha prev~ou:
year, and it ~urther requirsd by Mortyages to pay all 1n:ur~nce p?sm~ums m manner ~nd fwm sa provid~d Mnin tor tM p~Ym~nt ot tsxes ~nd sssessments
18. That ~f th~s mon9~ye ~s in sonn~ction wrtA tOnstrutUOn loan t~n~nc~ny. thsn this mortpays is wbj~ct to the Construcnon Loan Agreemem
dated betw~~n th~ Matyapor and tM Mortpa~. an ez~cut~C copy of which is ~n the possess~on o( the
Mortya9ee and ~s ~ncorporated h~re~n by ntsrence an0 m~ds ~ p~n hsnof: any dslault by MortQapw und~r ~.aSp~n~nt shall const~tute an eve~t o~
de~~uit under th+s mortqap~. ~ s~
1~ That tM Monqaflor w~N on the rsqu~st of tM Mortgayee (urmth ~ wntt~n st~tement ol tM ~mount ow+np on ths o0l~patwn wh~ch th~s mortgage
~ tKUr~~ ~nd th~~lM tt~t~ wh~th~r or not Mortp~qor d~~m~ •ny d~f~nNS ot offis~tt tMr~to
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