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Bs — Ss é | HEL4301°509S5 A Iw : pe oe “ct ADE MORTGAGE, made the 29th day of July, 1998, by ang, VO" RICHARD & ONS, INC. "a New York Corset en having its’ principal : oe rrrr—ti‘“‘is—sO—Ss—s—Ns—sssSSCsS organs et%0t, £0, INDEPENDENCE SAVINGS BANK, a banking cetgorat son! having Gn wma,exiating under the laws of the state of kee teen Brooklya neice and, Place ‘of ‘busineos at 195 wontague strcee! Brooklyn, New York 11201, the nortsaose, 4 oF Ive wea inat 2 Secure payment of an indebtedness in the honey of tee MZLATON and 00/200" ($5,000,000.00) DOLLARS, Saytte ee tecording ‘te United States, to be ‘paid with interest thereste Renews te oreertain, Note or obligation bearing eve ons herewith, the mortgagor hereby mortgages to the mertengee ings Rak Gextain plot, piece or parcel of lend, with the Pebisings and improvements ‘thereon erected, situates dying and reget tts Borough of Brooklyn, city and stacetse He! York, bounded and described as follows: Flatbush Avenue; AUENING THENCE westerly along said side of Pacific Street, 171-44 feet to the easterly side of 4th avenses suEhSE Ly raneTLY along said side of 4th avenue, 160.15 feet to the southerly side of atlantic Avenues THENCE easterly along said side of Atlantic avenue, 170.80 feet; TOPNCE South 31 degrees 45 minutes 00 seconds west, 180.15 feet to the point or place of BEGINNING: ate tee with all right, title and interest of the mortgagor adjorcing fhP,2¢nd lying in the streets and rene in front of and adjoining said premises to tne center tine thereof. 4 SAID PREMISES being known as 15-23 4th Avenue, Brooklyn, New York. c ed in any way in conne ‘operat ion oF of the’ faregeieeniaees melding, but not Liniting therseees cnet Sinamoe, boneind for abd pareitione, ‘elevators, cxginas eesti elev eonateioeiag, fMepacens fuel ofl 'conly heat inge Te set Gacuim Clensrnaay,@lumbingy “gas and eloctrte "Tigntt agermesnay sre eeCingulasi a? oeaRe; sinker system or other ie CHBReN: or, extinguishing equipeent materials; stoves! “ransen’ Entuag“compacectathind, Machines,” clothes diye ety rangee” EOEREE,.compasterey stunae,auningas fcreona, window "shades; eniture uthishinga ” for’ "the ‘common Neg fer) mesa! saipment Ot say hotel “wireh, Mlle et lobbies! eR fore 4B Qo desesesseEsEdsEsseseEEEsEN ORTGAGE $ YS Te mussssssenessuccceaccecueee AbsssHRESSEEseLEssssEsssdscdeTcEssEseEssTeasERsuBEBEsEcsEEEEsEsESscEEELEEEEEEY eesseeeeesEseedseeedes MORTGAGE RE COR D sssddecsscdesl0/09/9Be8E8E RUG i456 5544584 SSAA SSAASASSASSSASSSSSS Oasasssaansaasaaaasasasaaaaaace 1 ae : °cnry. 25,000.00 ° ne crry 56,262.00 ° a HIS PROPERTY 6 OR LESS RESIDENTIAL N' © susr 81,262.00 ° ae . © sat 12,500.00 ° a ae . © TASF 0.00 # me : © MTA 12,500.00 2 ne : © NyTA 31,238.00 ° # He : ° BERESEEREREREREERREERESE = ° mH He : © TOTAL 137,500.00 ° HAG44554654555558554544454454548468661 SAS445S4F8 TO PRINT TAXSAS64841 © 5 'T.A.SPEC ASSIST FUND 0.00 a MET. TRANS. AUTH. TAX 0.00 5 NYC 'TRANS-AUTH. TAX 0.00 ® u TOTAL TAK PAID 0.00 au ABEEESSEBUsEsEEsEdESsEsEEESESEESESESEEESEESEETESSESSSEESCELESEOUESEESEEEEY | 4 i : s RELY 301°508Sb Fesidence or wegreation facility, hospital, hursing home, adult idence or other health care veia, ted facility, theater, place of eee ek Private assemblage, clus ay lodge, i mortgagor for of the busin or encumbranc fixtures agreenent the security sated being, notwithstanding tne execution and giher security agreement’ ana/ox financing ang cherative. should any of sacd y Prior security interest deomed fhgeted hereby, ‘the tien of ‘tne fortgage shall be deemed ts include ‘the equity and” interent’o2 fhe mortgagor or any such personal parpanterest in any of such feet ai Ene auth Property and, in the event og ti peeL 3010957 | | @ deems it advisable for the purpose Commercial Code and of effectuating, continuing or renewing the liens hereby created. g 2 g 38 & S 5 2 g and awards heretofore Page, and Nereafter to be made by any Municipal, County, State, Federal or other governnental authority to the present and/or aii subsqduent owaers of the prenises herein described including any award and awards for any change or changes of grade of stoects Shkgcting said premises, which said award or awards are hereby geeigned to the said mortgagee and the legal representatives: gns of the mortgagee, and the sai: said mortgagee and the legal representatives, succuesors and assigns of the mortgagee (at ite or their option} authorized, directed and empowered to collect and ‘re eet his mortgage and its accompanying Note, notwithstanding the Aact that the amount owing on account of this mortgage and’ send Rete may not be then due and payable; and the said mortgagor tos the said mortgagor and the legal representatives, succecssre acd apeigns of the mortgagor hereby covenants and agrees to and with the said mortgagee and the legal representatives, successors ani ' assigns of the mortgagee, upon demand by the holder of thin , mortgage, to make, execute and deliver any and all assignments snd Qfeez instruments sufficient for the purpose of assigning, che 2foreeaid avard and awards to the holder of this mortgage, trees Clear and discharged of any and all encumbrances of any Kink of nature whatsoaver. And the mortgagor covenants with the mortgagee as follows. de torrhat the, mortgagor will pay the indebtedness as hereinbefore provided. 2, That the mortgagor will keep the buildings on the premises and with such insurance carriers as the mortgagee RY in its sole discretion require and approve,) for the bencfitvcs the mortgagee, and the mortgagor will assign and deliver to the morpgagee fully prepaid, unassigned, unpledged, and unencunbered policies of such insurance, as the mortgagee’ may require. che paexpired preniun or premiums on which shall at all tines iikewsee de unassigned, unpledged and unencumbered, except that, inthe SE naeaty, default hereunder, any unearned premiun on any policy se einmurance for fire or any other insurance required’ ty the mortgagee is hereby assigned to the mortgagee; that the mortgagor a PEEL 301750958 will reimburse the mortgagee for any premiums paid for insurance by the mortgagee on the mortgagor's default in so insuring the buildings or in so assigning and delivering said policies; and that the provisions of subdivision 4 of Section 254 of the Real Property Law applying to insurance against lose by fire shall apply, so far as possible, to any other insurance required by the mortgagee hereunder. ‘This paragraph shall be construed pursuant to the provisions of subdivision 4 of Section 254 of the Real Property Law as it existed prior to the effective date of Chapter 830 of the Laws of 1965. 3. The mortgagor will insure and keep incured all of the articles of personal property referred to herein against lose by fire or any other casualty or hazard against which the mortgagee may from time to time deem it advisable to be insured for the benefit of the mortgagee. This provision shall be construed in the same manner as the foregoing provision for the keeping of the buildings on the premises insured against loss by fire and any other casualty or hazard. 4, That the mortgagor will maintain the buildings on the premises in good repair; if all or any portion thereof is rented or adapted for renting, then the mortgagor wili maintain same in good rentable condition at all times, whether or not occupied. Neither the value of the mortgaged premises nor the lien of thie mortgage will be diminished or impaired in any way by any act or omission of the mortgagor or any successor in interest thereto and mortgagor will not do or permit to be done to, in, upon or about. said mortgaged premises or any part thereof, anything that may in any way substantially impair the value thereof or substantially weaken, diminish or impair the security of this mortgage. The mortgagee may make whatever advances it deems necessary as a result of mortgagor’s default and/or in order to preserve and protect the mortgaged premises and all such advances shall be deemed secured hereby, shall bear interest at the rate(s) specified in the Note and shall be allowed and collectible in any action to foreclose. 5. That no material structural changes shall be made to the buildings on the premises without the prior written consent of the mortgagee and that no building on the premises shall be removed or demolished without the prior written consent of the mortga 6. hat the whole of said principal sum and the interest thereon shall be due, at the option of the mortgagee, after default in: a) payment. of any installment of principal, of interest, or of principal and interest, for fifteen (15) days, or of any payment of an escrow deposit hereinafter referred to for real estate taxes, water rates, sever charges, vault taxes, assessments or other Charges, for fifteen (15) ‘days; or b) ‘payment of any taxes, including corporate franchise taxes, payable by any corporate owner of the premises for thirty (30) days; or c) delivering receipted bille showing payment of such real estate taxes, water rates, sever 4 a aetna a2 EEL 301220959 te ghasges, vault taxes or assessments for thisty (20) daye after donand.therefery "or" dj either 'asclgnig andlor aohatat tnd eee policten inmucing the slaings ayeisot Tose Oy fist ae ee ekeS Basard or “casualty “cetersed’ "tole pacagrach sé herecd! ee i reimbursing the mortgagee for premiums paid on such insurance ac hereinbefore provided; or e) furnishing upon request a statement, setting forth the amount due on the mortgage and whether any offsets or defenses exist against the mortgage debt, as hereinafter provided. 7. _ That the holder of this mortgage in any action to foreclose it, shall be entitled to the appointment of a receiver, 8. That the mortgagor will pay all taxes, including, but not a limited to, corporate franchise taxes and real estate taxes, water rates, sewer charges, vault taxes and assessments and will submit to the mortgagee receipted bills therefor on demand, and in defeult thereof, the mortgagee may pay the same. If any’ duplication of Payment results from the failure of the mortgagor to submit receipted bills, the cost and expense of procuring refund of duplicate payments shall be borne by the mortgagor. 9. That. the mortgagor within six (6) days upon request in Person or within fifteen (15) days upon cequest’ by mail will furnish a written statement, duly acknowledged, setting forth the amount due on the mortgage and whether any offeete or defenses exist against the mortgage debt. 20. | That notice, notice and demand or request may be in writing and may be served in person or by mail. Any notice Zequired to be given by mortgagee to mortgagor shall be in writing, aggressed to mortgagor at the address set forth above (or any other > address which mortgagor may designate in writing), sent ‘by (2) certified mail-return receipt requested, (b) personal delivery or {c) by reputable overnight courier service, with notice delietred By (2) oF (b) deemed given on delivery thereof and notice by [e) deemed given three (3) days after mailing. 11, That the mortgagor warrants the title to the premises. 12, That in case of a sale, said premises, or so much thereof as may be affected by this mortgage, may be sold in one parcel, Ghereon shall become due at the option of the mortgagee: a) after Gefault for thirty days, after notice and demand, in the payment of Any ,instaliment of any assessment for local’ improvenents, heretofore or hereafter levied, which is or may becone payable in 5 reeLu 3010960 scent of threatened demolition or rewoval of any building erected Bon said premises without the prior written conaent’ of the seregagee and in the event of auch unauthorized structural change Qe Gemolition or removal of any building, the interest om the indebtedness secured by this mortgage shall be at the rate on rans, specified in the Note secured hereby from the date of tee sRgueed by mortgages for State or local purposes of the menneerce the collection of any such taxes, so as to affect said mortgage, fhe holder of this mortgage and of the debt which it secures anoet Rave the right to give thirty days’ written notice to the conor ee mbeidand requiring the payment of ‘the mortgage debt.” tr such notice, Be Siven, the said debt shall becone due, payable och collectible at the expiration of said thirty days, fter be protected atute or statutes ‘gagee from foreclosing for nonpayment of the xXpiration date hereof, the mortgagor heresy nue to pay amortization to the mortgagee (if the mich eee ef? ghects and only so long as the moratorius awe or any Forte ener statute or statutes ‘protect “said mortgagor fey ses CRUFe {or nonpayment. of the balance of ‘the princieal deter at the default rate Paragraph 33, on the maturity date hereof and, thereafter, on the same days of the martha veces Broyided for; provided, however, that if, and as, the law Creat Stats, of Now York require in connection vith mortgages so peorscteg or affected, that there be paid to th grortizing said debt greater in aggregate per annum’ ther he eigregake Per annum of the payments which would be due if haved eo wre cotid last year’s payments, then, at. the option ar sere may ovelectn” einen after the maturity of said debt ‘the mortgages fay fo glect, the installments payable following the instalivoce Tei ee by this paragraph to be paid on the maturity date hensoe shail be as provided for in said lawa with interest at the dereere defaults foe, Paragraph 23. In the event that the mortgases Gefaulte in the payment of any such installment of amortivee ioc any due date, 164 gi any action or proceeding be comenced (except an action to foreclose this mortgage or to collect the dest eecarey 6 HEEL 43015091 thereby) to which action or proceeding the holder of this mortgage is made a party or in which it becomes necessary to defend or uphold the iien of this mortgage, all sums paid by the holder of this mortgage for the expense of any litigation to prosecute ot defend the rights and lien created by this mortgage (including Feasonable counsel fees) shall be paid by the mortgagor, together with interest thereon, at the rate or rates specified in the Note secured hereby and any such sums, with the interest thereon, shall be a lien on said premises attaching or accruing subsequent to the jien of this mortgage and shall be deemed to be secured by this mortgage and by the Note which it secures. In any action or proceeding to foreclose this mortgage and/or to recover or collect the debt secured thereby, the provisions of law respecting the Eecovery of costs, disbursements and allowances shall continue unaffected by this’ covenant. 17. If the said premises as existing or used at any tine are in violation of the Multiple Dwelling Law, Labor Law, or any other State or local statute, ordinance, code, rule, regulation or requirement or of any order issued or filed by any municipel ov governmental authority or subdivision thereof, or if by reason of any change either in the physical condition of the premises or its use or in the aforesaid laws, statutes, ordinances, codes, rules, regulations or requirements, or direction of any municipal or governmental authority or subdivision thereof or if, by redeon of the filing of @ violation against the said prenises they shall becone and be in violation of any of the foregoing, the mortgagor shall take immediate steps to alter the premises as required to comply therewith. In any of the aforementioned events; (a) the alteration or repair shall proceed with all due diligence and bhatt be completed within a reasonable time and (b) there shall be submitted to the mortgagee, upon completion, (i) receipted bills evidencing the payment of the cost thereof and (ii) satisfactory Proof that no Liens or encumbrances have been or will be filed on account thereof; if the alterations or repairs require filing and appcoval of plans or specifications, said plans and specifications must first be approved by the mortgagee before they are filed with the governments] department having jurisdiction thereof and the mortgagor, on completion, shall procure and exhipit to. the mortgagee a Certificate of Occupancy issued by said governuentel department and a Notice of Dismissal of all violations; if the alterations do not require filing and approval of plans, the mortgagor shall produce, on completion, a Notice of Diemiseal oF all violations. For the purpose of this mortgage, any attempted compliance with the above by the partial or total vacating of the premises shall not be considered compliance with the requirenente hereof. On any occasion when the premises shall be deemed to be in violation of any law, order, decree, code, rule or requirement relating to said premises, it shall’ be deemed so to be on the assumption that the premises are or will be fully occupied. The zepairs and alterations to be made in order to comply with the foregoing shall include all unoccupied portions of the premises 7 -E z with like effect as though they were fully occupied. 18. The Leases and Pents, as defined in that certain Collateral Assignment of Leases and Rents of even date herewith . between mortgagor and mortgagee (the “Aseignment"), of the mortgaged premises are assigned to the holder hereof pursuant to | the provisions of the Assignment collateral hereto as further security for the paynent of the obligations evidenced by the Note and secured hereby, and mortgagee shall upon the securvence of a i default hereunder which shall not have beon cured within appliceble ' grace and cure periods, if any, have ail rights’ provided in the | Aasignnent in consequence thereof. 19. [INTENTIONALLY OMITTED) 20. The mortgagor covenants that it will not assign, pledge or otherwise alienate any of the Rents (as defined’ in the Assignment) from the mortgaged premises without prior written consent of the mortgagee and any such attempted assignment, pledge or alienation of said Rents shall be subject and subordinate to the rights of the mortgagee. 21. If, at any time, the income of the property shall be any criterion of the amount of interest or amortization payable by the owner, either by operation of any law or otherwise, the portion of the mortgaged premises occupied by the owner shall be treated as income producing and the reasonable rental value thereof shall be treated as additional income from the mortgaged premi: | 22. In the event that by law or by the provisions hereof the amount of income from the premises shall be any basis for a determination of the amounts payable to the mortgagee, the mortgagor shall make its books, records and vouchers of income and disbursements available for inspection by the mortgagee at any time upon the giving of five days’ prior notice in writing to the mortgagor. 23. The mortgagor or any subsequent owner of said premises will, annually within sixty (60) days after the end of the mortgagor’s fiscal year, furnish to the mortgagee or any subsequent holder of this mortgage, a full and complete statement of all | income and expenses incurred in the operation and maintenance of the said premises. Such a statement shall include a rent roll and such other information relating to the property as the mortgagee may require. Such statement will aleo be furnished to’ the mortgagee at any other time on demand. 24. In compliance with Section 13 of the Lien Law, the mortgagor will receive the advances secured by this mortgage and will hold the right to receive such advances as a trust fund to be applied first for the purpose of paying the cost of the improvement. and the mortgagor will apply the sane firat to the payment of the 8 REELGIOT09b9 Same Por'neyimprovenent before using any part of the total of the same for any other purpose. nable cee MorGAGOr covenants to pay to the mortgagee a for tha te charge which the mortgagee may impose, at ite ‘option, scrote, Processing on its records of any change’ of ownership or oe pesgution of bondsman or for any letter advice ao (ange! amount Sf Pkincipal and interest owing on the mortgage or for ite yections proceedn nt9aged | Premises in connection with paynent of tees loss prpgeeds or condemnation aard, or for any releses, modification, extension, consent, vement, special agreement, reduction insttancee eiaceigment, satiotaction of “mortgaye 2 other instrument relating to this mortgage. 26. The mortgagor covenants to pay to the mortgagee on the She ctc teen’ Mach and every month Commencing Reseda! 1, 1998, water sacen, (1/32) of the annual charges for real eetaty titer tates, sewer charges, vault taxes and assesaect affect ing ENE Premises herein mentioned and, at the option erent mortgagee, ene_tmmual premiums for fire, flood and other Kestee insurance, which sums shall be held by the mortgagee and was by it to pay such taxes and charges as the same become due sng Payable. ‘The the mort gence" Ronthly payments is to be fixed and deterttned by ieMogtgasee immediately’ after the date hereot ant iy + on the fist Say Of any month hereatter, the tote caytt monthly installments theretofore ‘paid to ‘tie mortgagee shall be thaufficient to pay such taxes and charges 62 tay then or Shereafter be due and payable, the mortgaser os any subsequent, ae shall be neremises shall pay to the mortgagee suc fertew ent sent be necessary to make up such deficit sitchin nes (10) daye. Sxcege “Titten notice and demand therefor; and te tet, be any fares and Sry pnouth over and above the sum necessary ‘ta Pay such subseqeeteGnazgeey, it shall be applied to such tend Soy charges fubsequently accruing. Such funds held by the mortgagee shall not Y mortgagor, auch funds § gole discretion be applied in reduction or ge brincipal balance then remaining upote. Upon mortgagor *s Sefault in making any such payment or payments ag ey when herein Progaded, mortgagee shall have the right (but not tin obligation), ‘Scretion, to pay any such taxes to repay the same to specified in the Note by mortgagee, together non said premises and secured by this mor: 27. In the event of a sale, Gunership of the mortgaged premises by the Mortgagor or an; subsequent owner thereof, this mortgage wit) immediately becone due and payable at the option of ‘the mortgages nt used in this conveyance or transfer of 9 ree gore Ogbe Shall be vdomreeetyase "sale, conveyance or transfer of omership* tothe eecensteued to include, but not be Limited to, with eeenie Tease wien gased Premises: a)’ an installment salea contracts bys @ corporation; e) portgagor, as same presently exiat, if nortgag £) any change in the menbers comprising the mot, mortgagor is a limited liability company: any other lien or encumbrance involving a ‘occupancy. mente Ubon the breach of any of the covenants warrantee or Peove ee ee creo, oF should any representation of mortgcces heresy Be the opeigm true the entire principal aum secured hereby shalt” Rorteeger ator Of the mortyagee or any subsequent holder of ity any sae egeecone, immediately due and payable and the nortgeges ae aor egabeemuent holder hereof shall have the right to forsciee hoe Foreetsee or Mortgager hereby agrees that upon any “sevien ae meresteee OF otherwise enforce the provisions contained ic ents mortgages ymoxtgagor shall “not interpose any counterclaim ‘tis mortgagor hereby waives any right toa jury trial. instrument and all of the covenants contained herein shall bind the heirs, executors, assigns of the mortgagor and inure and assigns of the mortgagee, with like ef rect executors, administrators, successors, and a herein. if such heirs, igns were named art Uathe event the date for paynent of the principal sun or collsteral fexet Secured by ‘the Note to which this mortgage oo collateral falls on a Sunday half holiday, it Spe iate(s) provided for therein shall be paid ts the arene date of paynent of i 31. oth include’ "Bond", term Note as used herein shall be construed to 32. The terms and changed, modified, or di instrument in writing si of such change thereunto duly’ authorized in writing. 23, Anything herein contained to the contrary notwithstanding, age the event the principal indebtedness refered te heey becones gue and payable by the terms hereof or by reason or ere mortgagee due, interest on the 20 weer PS APO REELU 301 P6OUbS indebtedness shall thereafter accrue at the lower of (a) the highest. rate permitted by applicable lew or (b) sixteen percent ' (168). per annum” and continuing until payment of the entire principal indebtedness and the same shall be collectible in any Action to enforce this mortgage. 34. Anything contained herein to the _ contrary notwithstanding, if it becomes necessary to employ counsel to collect the obligation described herein or to protect or foreclose this mortgage, the mortgagor hereby agrees to pay a reasonable attorney’s fee for the services of such counsel together with all other costs and disbursements in connection therewith, whether or not suit be brought. 35, Mortgagor will not, without the prior written consent. of the mortgagee, create, grant or permit to be created or granted, or ‘permit ‘to remain, any mortgage, pledge, lien, encumbrance, option to purchase or charge, or security interest, or conditional’ sale or other title retention agreement, with respect to the premises secured hereunder or any part thereof or income therefrom, whether prior or subordinate to the lien of this mortgage or any extensions, renewals or modifications thereof. 36. Mortgagor hereby covenants and agrees as follows: (i) Within ninety (90) days after notification by mortgagee, mortgagor shall, remove or cause to be removed any and ali asbestos or correct or cause to be corrected the condition of ch asbestos by enclosure or encapsulation for all asbestos which may at any time be determined to ve located in or on any part of the mortgaged premises and will take or cause to be taken any and all other actions, required by law in connection therewith; and (ii) Mortgagor shall proceed promptly and with due diligence to perform or cause to be performed all actions required to be taken by law in connection therewith and/or as requested by mortgagee; and (iii) Mortgagor shall comply with all laws, rules or regulations, as the same may from time to time be amended, modified or supplemented, and relating to acceptable levels of asbestos, asbestos-containing materials or other hazardous materials including, without limitation, all pollutants, dangerous substances, toxic substances, hazardous wastes and hazardous substances ‘as defined or set forth in or pursuant to or covered by the Resource Conservation and Recovery Act (42 U.S.C. Section 9601, et seq.), the Comprehensive Environmental Response Compensation and Liability Act (42 U.S.C. Section 6901, et seq.), or any other federal, state or local environmental law, ordinance, rule or regulation. nn } HELIO OIbS Mortgagor, its auccessors and officers, nammlees mortgagee, including tee director: SFetseres employees, agents, ‘succeswoat and assigns, from and egeinet any and all claine, demande, damages, act ions, agresmencs agStiony injuries, adninisen ‘igns, shall defend, indemnify mortgagor, or’ any of them, in part ‘by any ‘condition? Mesion of mortgagor, ut at peth® actual, alleged or threatened dispersal, release, generation, disposal or escape ‘containing materials or other hazarhont materials; ro tally, oF Allegedly arises out of the Performance or peaitye £0 perform the abetenest of any asbestos or other pazerdous materials source or the wok required to be taken by jaw in connection therewith: Mortgage shall have the right, RerecndecT Cause to be performed’ i Mu mortgagor's obligations RekRunder. | If mortgagee shall ost Or cause to be performed nortgentigations, nortgagors shall ior: tely and upon demand of ineuge%9o" Feimburse mortgages for ‘ai rmees ‘and expenses mortgages incurs “in‘connection therestth. but not the obligation, to ame beconed @88igns, shall bear, pay and Gigcharge when and‘as the same become? due and payable, any and all such judgments or claims for Samages, ‘penalties, Clean-ups “sr otherwii i i burden and administrative proceed with any and all persons, agencies arising out of any Paragraph 36, vet_and comply with the balance of eoicomtitions set forth in this paragraph se ene entire e Phekhse of principal secured hereunder, tosetne ee all interest fer the eon, hall inmediately become due and paysite se eet option of {ge Mortgage. Wortgagor hereby represents feet’ jagee that there 32 48, 0f the date hereof no asbestos, asbecte containing materials premiocg, '@#azdous materials in, ‘on or about mortgaged premises. eeeeeag contained in this agreement to the contrary Indemnirienaings the mortgagor hereby’ ag tee that the suscmitications contained in this paragrach 36 shall. continue and foreclosuce setction of the loan whether’ by payeunt eon ‘through fore toeuEe OF acceptance by “mortgages of Payne in lieu of foreclosure. 37. any provisions mortgage to the contrary potwithstanding, mortgagor hereby agrei any and all state and local real property transfer tases but not by way gf limitation, any New York State cea) Property’ gains tax then ceeveyenle and payable in connection witht gai or other mortgagee ra yy ne, mortgaged premises arising or resulting from 2 eaagee(s (1) foreclosure of this mortgage ee (ii) acceptance of Procecding?, "Re, mortgaged premises, In?’ rey tip foreclosure Proceedin ueTemMser further hereby irrevocably serene and wees, ts true and lawful attorney to ace Te mortgagor's name 38. (INTENTIONALLY omrrrED}, 39. | Any advances made by the mortgagee under any of the terms, covenants, or conditions of ‘th mortgage shall be deemed wing the gq MortGICE covenants and agrees that, promptly the ting the date hereof, it will undereake ees diligently pursue the issuance by the New Department of a Provided Borrower diligently Such Periods), ISB is authorized, subsequent to’ January 29, 1999 authorized hereby), for (i) completi: Gredit against principal due under the Loan. obligation to utilize all or any portion of aforesaid purposes, the, ful amount of ‘the Deposit ‘remaining und until all of the foregoi i ay be extended in accordance i ak the sole option of mortgagee, be deemed ne which event ali suns then owing shall bercne payable, 41. (INTENTIONALLY oMTrrED), 42. Beginning in the throughout the entire term prior written notice to the Upon the exercise of such in addition to the prepayment thereon at the together with Prepayment option the mortgagor shall, of the entire principal balance, 45; qlotwithstanding any of the provisions contained herein to the contrary, the mortgagee shal, any default herein. If 8 in default, oth mortgagee of any sum of amount Payable from time i ms of this agreement, Giving of Gefault must be cured. “However, nortregevont, such default cannot, in the aole determination of the the mocteeges GuEes within such thirty (30) day Period, and provided y without 1 the mortga: iditional thirty RELY 3D 129969 (30) day period within which time all actions required as set forth in the mortgagee’s notice of default shall be completed. Any such default not cured within said thirty (30) day period, shall be subject to all of the other terms and provisions contained in this an agreement. 7 46. The mortgagee, its successors and assigns, in consideration of the premises and the mutual covenants herein contained, does hereby covenant and agree as follows: (a) That it will not exercise its right to institute any action at law against the mortgagor, or any principal of the mortgagor disclosed or undisclosed, for the payment of any sum of money, which is, or may be, payable under the note secured ‘hereby, other than the right to foreclose, which right is specifically reserved; (b) That it will not seek against the mortgagor, or any principal of the mortgagor disclosed or undisclosed, any judgnent for a deficiency in any action to foreclose this mortgage; provided, however, that nothing in this covenant and agreement contained shall be or be deemed to be a release or impairment of the said indebtedness, or of the lien thereof upon the premises, or shall preclude the holder of the said bond and/or note secured hereby from foreclosing in case of any default or from enforcing any and all other rights under and by virtue of this mortgage. The provisions of this paragraph shall not apply to any obligations or. liabilities of the mortgagor or any principal of the mortgagor, disclosed or undisclosed, pursuant to the provisions of paragraphs 36 and 37 as herein above set forth. IN WITNESS WHEREOP, this mortgage has been executed by the mortgagor on the day and year first above written. ‘A.J. RICHARD & SONS, INC. Pe, o Vice President & C.P.0. ao STATE OF NEW YORK ) Fea. COUNTY OF NEW YORK) On the 29th day of July, 1998, : THOMAS P. POHMER, to me known, who, depose and say that he is the Vice President & C.P.0. of ACs RICHARD & SONS, INC., the corporation described in and. which gxecuted the foregoing instrument by order of the ‘Beard ice Directors of said corporation; and that he signed hia name thereto by Tike before me personally came being by me duly sworn, did NOTARY Mortgagor: A.J. RICHARD & SONS, INC. Mortgage: INDEPENDENCE SAVINGS aN 7 Premises: 15-23 4th Avenue Brooklyn” few York 2 1 Section 4 2 i Block: 927 i lots ? attache mily asi Pover® Fea) property improved by a one or two family dwelling only zeal property principally Y one or more structures t more than six residential : 2 ee The attached mortgage does not cover real Property inproved a8 described above. Date: July 29, 1998 A.J. RICHARD & SONS, INC, wm Palen Vice President & c.F.0, REELY 301 PEOITZ E/N 30079931-08 98-1620 7 MORTGAGE A.J. RICHARD & SONS, INC. a0 | INDEPENDENCE SAVINGS BANK Oe Tite # F tk 7346 Premises: 15-23 4th avenue Brooklyn, New York Section: 4 Block: 927 Lot: 1 Record and Return to: BLEAKLEY PLATT REMSEN MILLHAN & CURRAN 90 West Street - 20th Floor New York, N.Y. 10006 Attn: EDWARD F, GENTNER, JR. r © twas 93 7 Lous), / 15-223 0:01 B66] 399 9K Ba "ae" ay ciry Recistéh AECORDING AND ENDORSEMENT PAGE - KINGS COUNTY - (This poge forms part of the instrument) 1? et ff rVK Deb ‘THE FOREGOING INSTRUMENT WAS ENDORSED FOR THE RECORD AS FOLLOWS: Exambodty oj gue» 063770 lige Tarsersino,| GC _P24859 | Sealnimber Fo Teme Vallod kage Amount é By. — | [Ber TexabieAnount —| Boch) and Le) varied byt) Ewmeoni4— yesQ wo ites tay Q pee bm] [a] fener] [mea —___ toy ok oo vena Tee: (rwa] [3] (ewe) fad] frcramprn l= 77 lraxnccuvsvowanoveuonauey 7} pMNFH on TaAae tax receive eee a a County ask) —_ Saar] frre | ee ee ee sewn ——_ fp [few Vor Steal Ea Tanar Tax ¥ 1] fase $ aa Seta vera Hanber op Taw You Pa roan tax Prop Tander Tx, Sell Naber a” ow Yor Sab ans Tax Sil Nentar 9p RECORDED IN JGNGS COUNTY OFFICE OF THE CITY REGISTER 1999 UCT IS 2 4:24 Witness My Hand and ofadtdl§ Jor Crea Asm crcrusoxere 13 EL bow 1OENT

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