Building Loan Mortgage {8017}

Form 8017 (3/00) Building Loan Mortgage - Individual or Corporat ion CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY. THIS MORTGAGE , made the day of , BETWEEN , the mortgagor, and , the mortgagee, WITNESSETH , that to secure the payment of an indebtedness in the sum of dollars, lawful money of the United States or so much thereof as may be advanced, to be paid with interest thereon to be computed from the date of each advance, at t he rate of per centum per annum, and to be paid on the day , of next ensuing and thereafter, according to a certain bond, note or obligation bearing even date herewith, the mortgagor hereby mort gages to the mortgagee ALL that certain plot, piece or parcel of land, with the buildings and impro vements thereon erected, situate, lying and being in the <<<<<<<<<********>>>>>>>>>>>>> 2TOGETHER with all right, title and interest of the mortgagor in and to the land lying in the streets and roadsin front of and adjoining said premises;TOGETHER with all fixtures, chattels and articles of personal property now or hereafter attached to or usedin connection with said premises, including but not limited to furnaces, boilers, oil burners, radiators andpiping, coal stokers, plumbing and bathroom fixtures, refrigeration, air conditioning and sprinkler systems,wash-tubs, sinks, gas and electric fixtures, stoves, ranges, awnings, screens, window shades, elevators,motors, dynamos, refrigerators, kitchen cabinets, incinerators, plants and shrubbery and all otherequipment and machinery, appliances, fittings, and fixtures of every kind in or used in the operation of thebuildings standing on said premises, together with any and all replacements thereof and additions thereto;TOGETHER with all awards heretofore and hereafter made to the mortgagor for taking by eminent domainthe whole or any part of said premises or any easement therein, including any awards for changes of gradeof streets, which said awards are hereby assigned to the mortgagee, who is hereby authorized to collectand receive the proceeds of such awards and to give proper receipts and acquittances therefor, and toapply the same toward the payment of the mortgage debt, notwithstanding the fact that the amount owingthereon may not then be due and payable; and the said mortgagor hereby agrees, upon request, to make,execute and deliver any and all assignments and other instruments sufficient for the purpose of assigningsaid awards to the mortgagee, free, clear and discharged of any encumbrances of any kind or naturewhatsoever.AND the mortgagor covenants with the mortgagee as follows:1. That the mortgagor will pay the indebtedness as hereinbefore provided.2. That the mortgagor will keep the buildings on the premises insured against loss by fire for the benefitof the mortgagee; that he will assign and deliver the policies to the mortgagee; and that he will reimbursethe mortgagee for any premiums paid for insurance made by the mortgagee on the mortgagors default inso insuring the buildings or in so assigning and delivering the policies.3. That no building on the premises shall be altered, removed or demolished without the consent of themortgagee.4. That the whole of said principal sum and interest shall become due at the option of the mortgagee:after default in the payment of any installment of principal or of interest for fifteen days; or after default inthe payment of any tax, water rate, sewer rent or assessment for thirty days after notice and demand; orafter default after notice and demand either in assigning and delivering the policies insuring the buildingsagainst loss by fire or in reimbursing the mortgagee for premiums paid on such insurance, as hereinbeforeprovided; or after default upon request in furnishing a statement of the amount due on the mortgagewhether any offsets or defenses exist against the mortgage debt, as hereinafter provided. An assessmentwhich has been made payable in installments at the application of the mortgagor or lessee of the premisesshall nevertheless, for the purpose of this paragraph, be deemed due and payable in its entirety on the daythe first instalment becomes due or payable or a lien.5. That the holder of this mortgage, in any action to foreclose it, shall be entitled to the appointment ofa receiver.6. That the mortgagor will pay all taxes, assessments, sewer rents or water rates, and in default thereof,the mortgagee may pay the same.7. That the mortgagor within five days upon request in person or within ten days upon request by mailwill furnish a written statement duly acknowledged of the amount due on this mortgage and whether anyoffsets or defenses exist against the mortgage debt.8. That notice and demand or request may be in writing and may be served in person or by mail.9. That the mortgagor warrants the title to the premises. 10. That the fire insurance policies required by paragraph No. 2 above shall contain the usual extendedcoverage endorsement; that in addition thereto the mortgagor, within thirty days after notice and demand,will keep the premises insured against war risk and any other hazard that may reasonably be required bythe mortgagee. All of the provisions of paragraphs No. 2 and No. 4 above relating to fire insurance and theprovisions of Section 254 of the Real Property Law construing the same shall apply to the additionalinsurance required by this paragraph.11. That in case of a foreclosure sale, said premises, or so much thereof as may be affected by thismortgage, may be sold in one parcel.12. That is any action or proceeding be commenced (except an action to foreclose this mortgage or tocollect the debt secured thereby), to which action or proceeding the mortgagee is made a party, or in whichit becomes necessary to defend or uphold the lien of this mortgage, all sums paid by the mortgagee for theexpense of any litigation to prosecute or defend the rights and lien created by this mortgage (includingreasonable counsel fees), shall be paid by the mortgagor, together with interest thereon at the rate of sixper cent, per annum, and any such sum and the interest thereon shall be a lien on said premises, prior toany right, or title to, interest in or claim upon said premises attaching or accruing subsequent to the lien ofthis mortgage, and shall be deemed to be secured by this mortgage. In any action or proceeding toforeclose this mortgage, or to recover or collect the debt secured thereby, the provisions of la