gage, the amount secured thereby shall become at once due and payable, anything to the contrary notwithstanding. Agreement Extending Time for Payment of Mortgage. Form prepared and used by Lawyers Title & Trust Company of New York. Williston, Sections 122, 593-595, 1190, 1222-1230. AGREEMENT, made the.. nineteen hundred and... BETWEEN .day of.... hereinafter designated as the party of the first part, and hereinafter designated as the party of the second part: WITNESSETH, that the party of the first part, the holder of a certain bond conditioned for the payment of. which bond is secured by a mortgage recorded in the office of the Register of the County of.... in Liber.. and which mort lien upon the premises situate ..of the City of New on which bond and mortgage there is now owing the sum of Dollars, with interest at the rate of per centum per annum, from the.. day of. nineteen hundred and.... in consideration of one dollar paid by the party of the second part, and other valuable consideration, the receipt whereof is hereby acknowledged, does hereby extend the time of payment of the principal indebtedness secured by said bond and mortgage to the.. day of.... hundred and... .nineteen PROVIDED, the party of the second part meanwhile pays interest on the amount owing on the said bond and mortgage at the rate of.... ..day of... .per centum per annum, from the .nineteen hundred and..... semi-annually on the..... days of.... ..and in each year, and also complies with all the terms of said bond and mortgage as hereby modified; AND the party of the second part, in consideration of the above extension and of one dollar paid by said party of the first part and other valuable consideration, the receipt whereof is hereby acknowledged, does hereby covenant and agree to pay said principal sum and interest as above set forth and not before the maturity thereof as the same is hereby extended, and to comply with the other terms of said bond and mortgage. And the party of the second part further covenants with the party of the first part as follows: 1. That the party of the second part will pay the indebtedness as hereinbefore provided. 2. That the party of the second part will keep the buildings on the premises insured against loss by fire for the benefit of the party of the first part. 3. That no building on the premises shall be removed or demolished without the consent of the party of the first part. 4. That the whole of said principal sum shall become due after default in the payment of any instalment of principal or of interest for thirty days, or after default in the payment of any tax, water rate or assessment for sixty days after notice and demand. 5. That the holder of said mortgage, in any action to foreclose it shall be entitled to the appointment of a receiver. 6. That the party of the second part will pay all taxes, assessments or water rates, and in default thereof, the party of the first part may pay the same. 7. That the party of the second part within six days upon request in person or within thirty days upon request by mail will furnish a statement of the amount due on said mortgage. 8. That notice and demand or request may be in writing and may be served in person or by mail. 9. That the party of the second part warrants the title to the premises. 10. That the whole of said principal sum shall become due at the option of the party of the first part after default for sixty days after notice and demand, in the payment of any instal ment of any assessment for local improvements heretofore or hereafter laid, which is or may become payable in annual instalments and which has affected, now affects or hereafter may affect the said premises, notwithstanding that such instalment be not due and payable at the time of such notice and demand. 11. That the whole of said principal sum shall become due at the option of the party of the first part, if the buildings on said premises are not maintained in reasonably good repair or upon the failure of any owner of said premises to comply with the requirement of any department of the State or City of New York, within three months after an order making such requirement has been issued by any said State or City Department. 12. In the event of the passage after the date of said mortgage of any law of the State of New York, deducting from the value of land for the purposes of taxation any lien thereon, or changing in any way the laws for the taxation of mortgages or debts secured by mortgage for state or local purposes, or the manner of the collection of any such taxes, so as to affect said mortgage, the holder of said mortgage and of the debt which it secures, shall have the right to give thirty days' written notice to the owner of the mortgaged premises requiring the payment of the mortgage debt. If such notice be given the said debt shall become due, payable and collectible at the expiration of said thirty days. 13. That in case of a sale, said premises, or so much thereof as may be affected by said mortgage, may be sold in one parcel. 14. That the whole of said principal sum shall immediately become due at the option of the party of the first part, if the party of the second part shall assign the rents or any part of the rents of the mortgaged premises without first obtaining the written consent of the party of the first part to such assignment, or upon the actual or threatened demolition or removal of any building erected or to be erected upon said premises. 15. That the whole of said principal sum shall immediately become due at the option of the party of the first part upon any default in keeping the buildings on said premises insured against loss by fire as required by paragraph No. 2 above, or if after application by any holder of said mortgage to two or more fire insurance companies lawfully doing business in the State of New York and issuing policies of fire insurance upon buildings situate in the place where the mortgaged premises are situate, the companies to which such application has been made shall refuse to issue such policies. 16. That the holder of said mortgage in any action to foreclose it, shall be entitled (without notice and without regard to the adequacy of any security for the debt) to the appointment of a Receiver of the rents and profits of said premises. 17. That the party of the second part is now the owner and holder of the premises upon which said mortgage is a valid lien for the sum of.. principal, with interest thereon at the rate of. . Dollars per centum per annum, payable as above set forth, and that there are no defenses or offsets to said mortgage or to the debt which it secures. 18. That in the event of any default in paying said principal or interest, the rents and profits of the mortgaged premises are hereby assigned to the holder of said mortgage as further security for the payment of said indebtedness. 19. And the party of the second part further covenants that the principal and interest hereby agreed to be paid shall be a lien on the mortgaged premises and be secured by said bond and mortgage, and that when the terms and provisions contained in said bond and mortgage in any way conflict with the terms and provisions contained in this agreement, the terms and provisions herein contained shall prevail, and that as modified by this agreement the said bond and mortgage is hereby ratified and confirmed. This agreement shall be binding upon the heirs, executors, administrators, successors and assigns of the respective parties hereto. Collateral Bond to Secure Payment of Mortgage Form prepared and used by Lawyers Title & Trust Company of New York. KNOW ALL MEN BY THESE PRESENTS, That. hereinafter designated as the obligor,. .held and firmly bound unto.... obligee, in the sum of. .hereinafter designated as the . Dollars, lawful money of the United States of America, to be paid to the said obligee,. or assigns: FOR WHICH PAYMENT, well and truly to be made, .firmly by these presents. ..do.. .bind... of... day of 19. ., conditioned for the payment of the sum .Dollars, on the. one thousand nine hundred and with interest thereon, to be computed from the day of..... 19.., at and after the per centum per annum, and to be paid semi.days of... ..and which said bond is se rate of. annually on the.. cured by a certain mortgage, made by.. .recorded in the office of the to said obligee named in said bond, bearing even date with said bond, and.... Register of the County of.. 19.., in Liber......of Section......of mortgages, page... and covering certain premises, fully described in said mortgage, situate in the Borough of..... .in the City of New York. WHEREAS, to induce the said obligee to.... the said obligor hath agreed to make, execute and deliver this bond as further and additional security for the payment of the said above-mentioned bond and mortgage |