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CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENTTHIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY.
THISMORTGAGE,madethe dayof intheyear
BETWEEN
,themortgagor,
and
,themortgagee,
WITNESSETH,thattosecurethepaymentofanindebtednessinthesumof
dollars,
lawfulmoneyoftheUnitedStates,tobepaid
withinterestthereontobecomputedfromthedatehereof,attherateof percentum
perannum,andtobepaidonthe dayof intheyear ,nextensuingand
thereafter,
accordingtoacertainbond,
noteorobligationbearingevendateherewith,themortgagorherebymortgagestothemortgagee
ALL that certain plot, piece or parcel of land, with the buildings and improvements thereon erected, situate,
lyingandbeinginthe
TOGETHERwithallright,titleandinterestofthemortgagorinandtothelandlyinginthestreetsandroadsinfront
ofandadjoiningsaidpremises;
TOGETHER withall fixtures,chattels andarticles of personal property noworhereafter attached toorusedin
connectionwithsaidpremises,includingbutnotlimitedtofurnaces,boilers,oilburners,radiatorsandpiping,coal
stokers,plumbingandbathroomfixtures,refrigeration,airconditioningandsprinklersystems,washtubs,sinks,gas
and electric fixtures, stoves, ranges, awnings, screens, window shades, elevators, motors, dynamos, refrigerators,
kitchencabinets,incinerators,plantsandshrubberyandallotherequipmentandmachinery,appliances,fittings,and
fixturesofeverykindinorusedintheoperationofthebuildingsstandingonsaidpremises,togetherwithanyandall
replacementsthereofandadditionsthereto;
TOGETHERwithallawardsheretoforeendhereaftermadetothemortgagorfortakingbyeminentdomainthewhole
oranypartofsaidpremisesoranyeasementtherein,includinganyawardsforchangesofgradeofstreets,whichsaid
awardsareherebyassignedtothemortgagee,whoisherebyauthorizedtocollectandreceivetheproceedsofsuch
awardsandtogiveproperreceiptsandacquittancestherefor,andtoapplythesametowardthepaymentofthemortgage
debt,notwithstandingthefactthattheamountowingthereonmaynotthenbedueandpayable;andthesaidmortgagor
herebyagrees,uponrequest,tomake,executeanddeliveranyandallassignmentsandotherinstrumentssufficientfor
thepurposeofassigningsaidawardstothemortgagee,free,clearanddischargedofanyencumbrancesofanykindor
naturewhatsoever.
ANDthemortgagorcovenantswiththemortgageeasfollows:
1. Thatthemortgagorwillpaytheindebtednessashereinbeforeprovided.
2. Thatthemortgagorwillkeepthebuildingsonthepremisesinsuredagainstlossbyfireforthebenefitofthe
mortgagee;thathewillassignanddeliverthepoliciestothemortgagee;andthathewillreimbursethemortgageefor
anypremiumspaidforinsurancemadebythemortgageeonthemortgagorsdefaultinsoinsuringthebuildingsorinso
assigninganddeliveringthepolicies.
3. Thatnobuildingonthepremisesshallbealtered,removedordemolishedwithouttheconsentofthemortgagee.
4. Thatthewholeofsaidprincipalsumandinterestshallbecomedueattheoptionofthemortgagee:afterdefaultin
thepaymentofanyinstalmentofprincipalorofinterestforfifteendays;orafterdefaultinthepaymentofanytax,
waterrate,sewerrentorassessmentforthirtydaysafternoticeanddemand;orafterdefaultafternoticeanddemand
eitherinassigninganddeliveringthepoliciesinsuringthebuildingsagainstlossbyfireorinreimbursingthemortgagee
forpremiumspaidonsuchinsurance,ashereinbeforeprovided;orafterdefaultuponrequestinfurnishingastatement
oftheamountdueonthemortgageandwhetheranyoffsetsordefensesexistagainstthemortgagedebt,ashereinafter
provided.Anassessmentwhichhasbeenmadepayableininstalmentsattheapplicationofthemortgagororlesseeof
thepremisesshallnevertheless,forthepurposeofthisparagraph,bedeemeddueandpayableinitsentiretyontheday
thefirstinstalmentbecomesdueorpayableoralien.
5. Thattheholderofthismortgage,inanyactiontoforecloseit,shallbeentitledtotheappointmentofareceiver.
6. That the mortgagor will pay all taxes, assessments, sewer rents or water rates, and in default thereof, the
mortgageemaypaythesame.
7. Thatthemortgagorwithinfivedaysuponrequestinpersonorwithintendaysuponrequestbymailwillfurnisha
writtenstatementdulyacknowledgedoftheamountdueonthismortgageandwhetheranyoffsetsordefensesexist
againstthemortgagedebt.
8. Thatnoticeanddemandorrequestmaybeinwritingandmaybeservedinpersonorbymail.
9. Thatthemortgagorwarrantsthetitletothepremises.
10. ThatthefireinsurancepoliciesrequiredbyparagraphNo.2aboveshallcontaintheusualextendedcoverage
endorsement;thatinadditiontheretothemortgagor,withinthirtydaysafternoticeanddemand,willkeepthepremises
insuredagainstwarriskandanyotherhazardthatmayreasonablyberequiredbythemortgagee.Alloftheprovisions
ofparagraphsNo.2andNo.4aboverelatingtofireinsuranceandtheprovisionsofSection254oftheRealProperty
Lawconstruingthesameshallapplytotheadditionalinsurancerequiredbythisparagraph.
11. Thatincaseofaforeclosuresale,saidpremises,orsomuchthereofasmaybeaffectedbythismortgage,maybe
soldinoneparcel.
12. Thatifanyactionorproceedingbecommenced(exceptanactiontoforeclosethismortgageortocollectthedebt
securedthereby),towhichactionorproceedingthemortgageeismadeaparty,orinwhichitbecomesnecessaryto
defendorupholdthelienofthismortgage,allsumspaidbythemortgageefortheexpenseofanylitigationtoprosecute
or defend the rights and lien created by this mortgage (including reasonable counsel fees), shall be paid by the
mortgagor,togetherwithinterestthereonattherateofsixpercent,perannumandanysuchsumandtheinterest
thereonshallbealienonsaidpremises,priortoanyright,ortitleto,interestinorclaimuponsaidpremisesattachingor
accruingsubsequenttothelienofthismortgage,andshallbedeemedtobesecuredbythismortgage.Inanyactionor
proceedingtoforeclosethismortgage,ortorecoverorcollectthedebtsecuredthereby,theprovisionsoflawrespecting
therecoveringofcosts,disbursementsandallowancesshallprevailunaffectedbythiscovenant.
13. That themortgagorhereby assignstothemortgagee, therents,issuesandprofitsofthepremisesasfurther
securityforthepaymentofsaidindebtedness,andthemortgagorgrantstothemortgageetherighttoenteruponandto
takepossessionofthepremisesforthepurposeofcollectingthesameandtoletthepremisesoranypartthereof,andto
apply the rents, issues and profits, after payment of all necessary charges and expenses, on account of said
indebtedness.Thisassignmentandgrantshallcontinueineffectuntilthismortgageispaid.Themortgageehereby
waivestherighttoenteruponandtotakepossessionofsaidpremisesforthepurposeofcollectingsaidrents,issuesand
profits,andthemortgagorshallbeentitledtocollectandreceivesaidrents,issuesandprofitsuntildefaultunderanyof
thecovenants,conditions,oragreementscontainedinthismortgage,andagreestosuchrents,issuesandprofitsin
paymentofprincipalandinterestbecomingdueonthismortgageandinpaymentoftaxes,assessments,sewerrents,
waterratesandcarryingchargesbecomingdueagainstsaidpremises,butsuchrightofthemortgagormayberevoked
bythemortgageeuponanydefault,orfivedayswrittennotice.Themortgagorwillnot,withoutthewrittenconsentof
themortgagee,receiveorcollectrentfromanytenantofsaidpremisesoranypartthereofforaperiodofmorethanone
monthinadvance,andintheeventofanydefaultunderthismortgagewillpaymonthlyinadvancetothemortgagee,or
toanyreceiverappointedtocollectsaidrents,issuesandprofits,thefairandreasonablerentalvaluefortheuseand
occupationofsaidpremisesorofsuchpartthereofasmaybeinthepossessionofthemortgagor,andupondefaultin
anysuchpaymentwillvacateandsurrenderthepossessionofsaidpremisestothemortgageeortosuchreceiver,andin
defaultthereofmaybeevictedbysummaryproceedings.
14. Thatthewholeofsaidprincipalsumandtheinterestshallbecomedueattheoptionofthemortgagee:
(a) afterfailuretoexhibittothemortgagee;withintendaysafterdemand,receiptsshowingpaymentofalltaxes,
waterrates,sewerrentsandassessments,or(b)aftertheactualorthreatenedalteration,demolitionorremovalofany
buildingonthepremiseswithoutthewrittenconsentofthemortgagee;or(c)aftertheassignmentoftherentsofthe
premisesoranypartthereofwithoutthewrittenconsentofthemortgagee;or(d)ifthebuildingsonsaidpremisesare
notmaintainedinreasonablygoodrepair;or(e)afterfailuretocomplywithanyrequirementororderornoticeof
violationoflaworordinanceissuedbyanygovernmentaldepartmentclaimingjurisdictionoverthepremiseswithin
threemonthsfromtheissuancethereof;or(f)ifonapplicationofthemortgageetwoormorefireinsurancecompanies
lawfullydoingbusinessintheStateofNewYorkrefusetoissuepoliciesinsuringthebuildingsonthepremises;or(g)
intheeventoftheremoval,demolitionordestructioninwholeorinpartofanyofthefixtures,chattelsorarticlesof
personalpropertycoveredhereby,unlessthesamearepromptlyreplacedbysimilarfixtures,chattelsandarticlesof
personal property at least equal in quality and condition to those replaced, free from chattel mortgages or other
encumbrancesthereonandfreefromanyreservationoftitlethereto;or(h)afterthirtydaysnoticetothemortgagor,in
theeventofthepassageofanylawdeductingfromthevalueoflandforthepurposesoftaxationanylienthereon,or
changinginanywaythetaxationofmortgagesordebtssecured therebyfor state orlocal purposes; or(i)ifthe
mortgagorfailstokeep,observeandperformanyoftheothercovenants,conditionsoragreementscontainedinthis
mortgage;or(j)ifthemortgagorfailstokeep,observeandperformanyofthecovenants,conditionsoragreements
containedinanypriormortgageorfailstorepaytothemortgageetheamountofanyinstalmentofprincipalorinterest
which themortgagee mayhave paid onsuch mortgage withinterest thereon asprovided inparagraph 16ofthis
mortgage.
15. Thatthemortgagorwill,incompliancewithSection13oftheLienLaw,receivetheadvancessecuredherebyand
willholdtherighttoreceivesuchadvancesasatrustfundtobeappliedfirstforthepurposeofpayingthecostofthe
improvementandwillapplythesamefirsttothepaymentofthecostoftheimprovementbeforeusinganypartofthe
totalofthesameforanyotherpurpose.
16. Ifthemortgagorfailstopayanyinstalmentofprincipalorinterestonanypriormortgagewhenthesamebecomes
Strikeoutclauseif due,themortgageemaypaythesame,andthemortgagorondemandwillrepaytheamountsopaidwithinterest
inapplicable thereonatthelegalrateandthesameshallbeaddedtothemortgageindebtednessandbesecuredbythismortgage.
17. Thattheexecutionofthismortgagehasbeendulyauthorizedbytheboardofdirectorsofthemortgagor.
18. Thismortgageissubjectandsubordinateto
Thismortgagemaynotbechangedorterminatedorally.Thecovenantscontainedinthismortgageshallrunwith
thelandandbindthemortgagor,theheirs,personalrepresentatives,successorsandassignsofthemortgagorandall
subsequent owners, encumbrancers, tenants and subtenants of the premises, and shall enure to the benefit of the
mortgagee,thepersonalrepresentatives,successorsandassignsofthemortgageeandallsubsequentholdersofthis
mortgage.Thewordmortgagorshallbeconstruedasifitreadmortgagorsandthewordmortgageeshallbe
construedasifitreadmortgageeswheneverthesenseofthismortgagesorequires.
INWITNESSWHEREOF,thismortgagehasbeendulyexecutedbythemortgagor
INPRESENCEOF:
ACKNOWLEDGEMENTTAKENINNEWYORKSTATE ACKNOWLEDGEMENTTAKENINNEWYORKSTATE
StateofNewYork,Countyof,ss: StateofNewYork,Countyof,ss:
,personallyknowntomeorprovedtomeonthe ,personallyknowntomeorprovedtomeonthe
basisofsatisfactoryevidencetobetheindividual(s)whosename(s)is basisofsatisfactoryevidencetobetheindividual(s)whosename(s)is
(are)subscribedtothewithininstrumentandacknowledgedtome (are)subscribedtothewithininstrumentandacknowledgedtome
thathe/she/theyexecutedthesameinhis/her/theircapacity(ies),and thathe/she/theyexecutedthesameinhis/her/theircapacity(ies),and
thatbyhis/her/theirsignature(s)ontheinstrument,theindividual(s), thatbyhis/her/theirsignature(s)ontheinstrument,theindividual(s),
orthepersonuponbehalfofwhichtheindividual(s)acted,executed orthepersonuponbehalfofwhichtheindividual(s)acted,executed
theinstrument. theinstrument.
ACKNOWLEDGEMENTBYSUBSCRIBINGWITNESS ACKNOWLEDGEMENTTAKENOUTSIDENEWYORK
TAKENINNEWYORKSTATE STATE
Subordinate Mortgage
SECTION
BLOCK
LOT
COUNTY OR TOWN
Title No.______________________________
TO
DISTRIBUTED BY