’WPCN ĖwW IŪ“ULżqõ|W IŌ4oüĘZ>Ņōi2Ū„UÄqZįŲbac\Böķ+ÉŚ[łĖóčÖC%ci“%9J3µ *üažż†č ;vķ2­Ī}Ų³Åķ\šĢįś¤nāPDßWĮŹä®ųÖŁČŚÅīņˆÆĘ+°Ł-Ģ,0Šī !ß{ČHwfŽ~X¹UOüæn/s i;NĆpPč“%˜„»PæÕģ—µ.µŲ9Ö»SXuąØ6c·‡ĘDÄČܽ5¬½/ÉI&ł‹¶Ź{zIĶs ŚGzø·ī0»5@.øĻL£×Ņ>4\ŁLżˆÄVVYBlµ× ė–£x—‰IŽÕā1ˆFv6¢ģ3v nSüĬēq!³U~Ŗc‚fˆ)²YP”¬³Œ…Õ먓ųŻ"°rW\Ē3¤Š6‰ģŌķ•Oš§ßX¼^†µ¬Љž1‘ˆĒ*O£i“”H&50[2b4§” łcĆ^՛ŪjÕ¹Z‰™#Ś®ļHÆą¾łgŚČMĖm[6mķ†ĢG)·(|}ߝ‚õXD5ēŃŌO äķé*•näo*ŲfØL";eēśŲ՟ž ŠÆ‚§ļšz‰QūČ Ø#ÉøUN %Ļ 0:ÕN^ w4!5 m7#|x˜EPSON Stylus COLOR 3000Œ”ŒŒŒŒŒ”0(  Z‹6Times New Roman RegularX(üœ$””ŌUSUS.,Ō‚s2ø ‚¢Œ/ź:i¢×+00 ’U‹’ĄĄĄŻ ƒüœ!ŻŌUSUS.,ŌŻ  ŻŌ_ŌĢForm€8032€-€Building€Loan€ContractŠ ķ ŠĢCONSULT€YOUR€LAWYER€BEFORE€SIGNING€THIS€INSTRUMENT-THIS€INSTRUMENTŠ wĒ ŠSHOULD€BE€USED€BY€LAWYERS€ONLY.Š d“ ŠĢ-----------------Š > Ž ŠTHIS€AGREEMENT,€made€theą h ąday€ofą Ą ąin€the€yearŠ + { ŠBETWEENŠ  h ŠĢĢĢĢĢĢĢĢhereinafter€referred€to€as€the€borrower,€andŠ m½ ŠĢĢĢĢĢĢĢhereinafter€referred€to€as€the€lender,Š Õ% ŠĢĢWHEREAS,€the€borrower€has€applied€to€the€lender€for€a€loan€ofŠ œģ ŠĢDollars,Š v Ę ŠĢto€be€advanced€as€hereinafter€provided€and€to€be€evidenced€by€the€bond€or€note€of€the€borrowerŠ P"   Šfor€the€payment€of€said€sum,€or€so€much€thereof€as€shall€at€any€time€be€advanced€thereon,€onŠ =#! ŠĢĢĢĢwith€interest€upon€each€amount€so€advanced€from€the€date€of€such€advance€at€the€rate€ofŠ Ž'.#& Šą  ąper€centum€per€annum€to€be€paid€on€theą  ąday€ofą p ąin€the€yearą  ąandŠ Ė($' Šą  ąthereafter;€said€bond€or€note€to€be€secured€by€aą p ąmortgage€€€€€€€on€theŠ ø)%( Špremises€described€as€follows:Š „*õ%) ŠĢALL€that€certain€plot,€piece€or€parcel€of€land,€with€the€buildings€and€improvements€thereonŠ ,Ļ'+ Šerected,€situate,€lying€and€being€in€theŠ l-¼(, ЇĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢTOGETHER€with€all€right,€title€and€interest€of€the€mortgagor€in€and€to€the€land€lying€in€theŠ ZŖ Šstreets€and€roads€in€front€of€and€adjoining€said€premises;Š G— ŠTOGETHER€with€all€fixtures,€chattels€and€articles€of€personal€property€now€or€hereafterŠ 4„ Šattached€to€or€used€in€connection€with€said€premises,€including€but€not€limited€to€furnaces,Š !q Šboilers,€oil€burners,€radiators€and€piping,€coal€stokers,€plumbing€and€bathroom€fixtures,Š ^ Šrefrigeration,€air€conditioning€and€sprinkler€systems,€wash-tubs,€sinks,€gas€and€electric€fixtures,Š ūK Šstoves,€ranges,€awnings,€screens,€window€shades,€elevators,€motors,€dynamos,€refrigerators,Š č8 Škitchen€cabinets,€incinerators,€plants€and€shrubbery€and€all€other€equipment€and€machinery,Š Õ% Šappliances,€fittings,€and€fixtures€of€every€kind€in€or€used€in€the€operation€of€the€buildingsŠ Ā Šstanding€on€said€premises,€together€with€any€and€all€replacements€thereof€and€additions€thereto;Š Æ’ ŠĢĢĢWHEREAS,€the€lender€agrees€to€make€said€loan€upon€the€terms,€covenants€and€conditionsŠ c!³ Šhereinafter€set€forth,€and€the€borrower€agrees€to€take€said€loan€and€expressly€covenants€toŠ P"   Šcomply€with€and€perform€all€of€the€terms,€covenants€and€conditions€of€this€agreement,Š =#! ŠĢNOW,€THEREFORE,€it€is€agreed€between€the€parties€as€follows:Š %g # ŠĢ1.€€The€borrower€expressly€covenants€to€make€on€said€premises€the€improvement€describedŠ ń&A"% Šbelow€in€accordance€with€the€plans€and€specifications€therefor€which,€before€the€making€of€theŠ Ž'.#& Šfirst€advance€hereunder,€the€borrower€agrees€to€file€with€all€governmental€authorities€havingŠ Ė($' Šjurisdiction€and€to€obtain€all€necessary€approvals€of€said€plans€and€specifications€and€allŠ ø)%( Šnecessary€building€permits€from€said€authorities.€The€said€plans€and€specifications€shall€first€beŠ „*õ%) Šsubmitted€to€and€approved€by€the€lender€in€writing;€and€no€changes€or€amendments€thereto€shallŠ ’+ā&* Šbe€made€without€first€obtaining€the€written€approval€of€the€lender.€The€said€improvement€to€beŠ ,Ļ'+ Šmade€shall€be€as€follows:Š l-¼(, ЇĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢĢ2.€€With€the€approval€of€the€lender,€the€loan€may€be€evidenced€by€more€than€one€bond€or€noteŠ 4„ Šaggregating€the€amount€of€said€loan€and€be€secured€by€more€than€one€mortgage€each€covering€aŠ !q Športion€of€the€said€premises;€in€that€case€reference€herein€made€to€the€bond,€note€or€mortgageŠ ^ Šshall€be€deemed€to€include€all€of€the€said€bonds,€notes€or€mortgages.Š ūK Š3.€€With€the€approval€of€the€lender,€the€bond€or€note€and€mortgage€may,€for€the€convenience€ofŠ č8 Šthe€borrower,€be€written€for€a€sum€larger€than€the€amount€of€the€loan€above€specified,€but€in€noŠ Õ% Šcase€will€the€lender€be€obligated€to€advance€more€than€the€amount€of€the€loan€so€specified.Š Ā Š4.€€The€said€bond€or€note€and€mortgage€shall€be€upon€the€standard€forms€promulgated€by€theŠ Æ’ Šformer€NEW€YORK€BOARD€OF€TITLE€UNDERWRITERS€or,€at€the€option€of€the€lender,€uponŠ œģ Šsuch€other€forms€and€containing€such€clauses€as€the€lender€shall€determine€are€needed€for€theŠ ‰Ł Šlender's€protection,€and€the€mortgage€shall€be€executed€and€acknowledged€by€all€partiesŠ v Ę Šnecessary€to€make€it,€as€determined€by€the€lender's€attorney,€a€valid€lien€on€a€good€andŠ c!³ Šmarketable€title€in€fee€to€said€premises€and€on€the€said€fixtures€and€personal€property€to€beŠ P"   Šcovered€thereby€for€all€sums€that€may€be€advanced,€free€and€clear€of€all€liens,€encumbrances€andŠ =#! Šdefects,€except€those,€if€any,€to€which€the€lender€has€expressly€agreed€herein€to€take€subject€orŠ *$z" Šwhich€the€lender€may€hereafter€waive.€The€said€bond€or€note€and€mortgage€are€to€be€deliveredŠ %g # Šon€theą  ąą ` ą€€€€€day€ofą  ąą h ąin€the€yearŠ &T!$ Šatą  ąą ` ąM.,€at€the€office€ofŠ ń&A"% ŠĢĢ5.€€The€borrower€at€the€time€of€the€execution€of€this€agreement€or,€at€the€option€of€the€lender,€atŠ ø)%( Šthe€time€fixed€for€the€delivery€of€the€mortgage,€shall€pay€all€fees€and€charges€agreed€to€be€paidŠ „*õ%) Šincluding€the€fees,€if€any,€for€the€procuring€and€making€of€said€loan€and€the€charges€for€theŠ ’+ā&* Šexamination€of€the€title€to€said€premises,€surveys,€appraisals,€inspections€and€drawing€of€papers,Š ,Ļ'+ Šand€shall€also€pay€the€recording€fees€and€mortgage€recording€tax€and€cost€of€revenue€stamps,€ifŠ l-¼(, Šany,€and€architects',€engineers'€and€building€loan€service€fees.Š ° ŠĢ6.€€The€said€loan€is€to€be€advanced€at€such€times€and€in€such€amounts€as€the€lender€shallŠ ŠŚ Šdetermine,€but€tentatively€in€installments€in€accordance€with€the€following€schedule:Š wĒ ŠĢSCHEDULE€OF€PAYMENTSŠ Q ” ŠĢą  ąThe€lender€may,€as€provided€in€Paragraph€7€of€this€agreement,€advance€parts€or€theŠ + { Šwhole€of€any€installments€before€they€become€due€in€accordance€with€this€schedule.Š  h ŠĢĢĢĢĢĢĢĢĢĢ7.ą  ąNo€advance€shall€be€due€unless,€in€the€judgment€of€the€lender,€all€work€usually€done€atŠ G— Šthe€stage€of€construction€when€the€advance€is€made€payable€be€done€in€a€good€and€workmanlikeŠ 4„ Šmanner,€and€all€materials€and€fixtures€usually€furnished€and€installed€at€that€time€are€furnishedŠ !q Šand€installed,€and€unless€all€construction€be€approved€by€an€engineer€or€architect€satisfactory€toŠ ^ Šthe€lender,€but€the€lender€may€advance€parts€or€the€whole€of€any€installments€before€theyŠ ūK Šbecome€due,€if€the€lender€believes€it€advisable€so€to€do,€and€all€such€advances€or€payments€shallŠ č8 Šbe€deemed€to€have€been€made€in€pursuance€of€this€agreement€and€not€to€be€modificationsŠ Õ% Šthereof.€The€making€of€any€advance€or€any€part€of€an€advance€shall€not€be€deemed€an€approvalŠ Ā Šor€acceptance€by€the€lender€of€the€work€theretofore€done.€Any€advance€or€installment€of€any€partŠ Æ’ Šor€parts€thereof€may€be€postponed€or€deferred€by€mutual€consent€of€the€borrower€and€the€lender,Š œģ Šand€any€such€postponement€or€postponements€shall€be€deemed€to€be€in€pursuance€of€thisŠ ‰Ł Šagreement€and€not€in€modification€thereof.€A€receipt€for€any€advance€shall€be€binding€on€theŠ v Ę Šborrower€although€signed€by€any€one€of€the€individual€parties€constituting€the€borrower,€any€oneŠ c!³ Špartner,€if€the€borrower€is€a€partnership,€and€any€one€officer,€if€the€borrower€is€a€corporation.Š P"   Š8.ą  ąThe€lender€may€require€five€days'€notice€in€writing€from€the€borrower€before€an€advanceŠ =#! Šshall€be€called€for.€All€advances€are€to€be€made€at€the€office€of€the€lender€or€at€such€other€placeŠ *$z" Šas€the€lender€shall€designate.Š %g # Š9.ą  ąThe€lender€may€at€any€time€release€portions€of€the€mortgaged€premises€from€theŠ &T!$ Šprovisions€of€this€agreement€and€from€the€mortgage€executed€and€delivered€pursuant€theretoŠ ń&A"% Šupon€such€terms€and€conditions€as€the€lender€shall€deem€fit.Š Ž'.#& Š10.ą  ąThe€lender€may€at€any€time€extend€the€payment€of€the€principal€secured€by€said€bond€orŠ Ė($' Šnote€and€mortgage,€and€any€extensions€so€granted€shall€be€deemed€made€in€pursuance€of€thisŠ ø)%( Šagreement€and€not€to€be€modifications€thereof.Š „*õ%) Š11.ą  ąThe€borrower€shall€furnish€to€the€lender,€on€or€before€the€making€of€the€final€advance,Š ’+ā&* Šthe€final€certificates€of€approval,€including€certificate€of€occupancy,€of€the€various€governmentalŠ ,Ļ'+ Šauthorities€having€jurisdiction€and€the€certificate€of€the€Board€of€Fire€Underwriters€acting€in€andŠ l-¼(, Šfor€the€locality€in€which€the€said€premises€are€situated.Š ° Š12.ą  ąThe€borrower€shall€furnish€to€the€lender,€or€the€lender€may€procure€at€the€expense€of€theŠ ķ Šborrower,€surveys€made€by€a€surveyor€satisfactory€to€the€lender€whenever€required€by€the€lender.Š ŠŚ Š13.ą  ąThe€borrower€shall€furnish€to€the€lender,€premiums€prepaid,€or€the€lender€may€procure€atŠ wĒ Šthe€expense€of€the€borrower,€insurance€policies€in€companies,€forms€and€amounts€satisfactory€toŠ d“ Šsuch€lender€insuring€the€premises€against€loss€or€damage€by€fire,€with€the€usual€extendedŠ Q ” Šcoverage€endorsement,€and€other€hazards€as€may€reasonably€be€required€by€the€lender.Š > Ž Š14.ą  ąThe€lender€may€at€the€expense€of€the€borrower€employ€a€watchman€to€protect€theŠ + { Šbuildings€and€their€contents€from€depredation€or€injury.Š  h Š15.ą  ąIf€the€construction€of€said€buildings€be€at€any€time€discontinued€or€not€carried€on€withŠ  U  Šreasonable€dispatch€in€the€judgment€of€lender,€said€lender€may€purchase€materials€and€employŠ ņ B  Šworkmen€to€protect€said€buildings€so€that€the€same€will€not€suffer€from€depredation€or€theŠ ß/  Šweather,€or€to€complete€said€buildings,€so€that€they€may€be€used€for€the€purposes€for€which€theyŠ Ģ  Šare€designed€under€the€said€plans€and€specifications.Š ¹  Š16.ą  ąAll€sums€paid€or€expended€in€accordance€with€any€of€the€foregoing€provisions€shall€beŠ ¦ö  Šdeemed€advances€to€the€borrower€and€secured€by€said€bond€or€note€and€mortgage€and€may€beŠ “ć  Šapplied,€at€the€option€of€the€lender,€to€any€advances€thereafter€becoming€due.Š €Š Š17.ą  ąThe€lender€may€deduct€from€any€payment€to€be€made€under€this€agreement€any€amountŠ m½ Šnecessary€for€the€payment€of€any€fees€and€expenses€relating€to€the€examination€of€the€title€toŠ ZŖ Šsaid€premises,€including€cost€of€surveys,€charges€for€appraisals,€inspections,€drawing€of€papers,Š G— Šmortgage€recording€tax,€revenue€stamps,€if€any,€and€architects',€engineers'€and€building€loanŠ 4„ Šservice€fees,€and€any€expenses€incurred€in€the€procuring€or€the€making€of€the€said€loan,€and€inŠ !q Šthe€payment€of€any€insurance€premiums,€mortgages,€tax,€assessment,€water€rate,€sewer€rents€andŠ ^ Šother€charges,€liens€and€encumbrances€upon€the€said€premises€whether€before€or€after€theŠ ūK Šmaking€of€said€loan€and€any€other€amounts€necessary€for€the€payment€of€the€cost€ofŠ č8 Šimprovement€as€defined€by€the€Lien€Law,€and€apply€such€amounts€in€making€said€payments,€andŠ Õ% Šall€sums€so€applied€shall€be€deemed€advances€under€this€agreement€and€secured€by€said€bond€orŠ Ā Šnote€and€mortgage.Š Æ’ Š18.ą  ąThe€lender€may€cause€said€loan€to€be€made€by€some€other€person€or€corporation.€TheŠ œģ Šbond€or€note€and€mortgage€shall€then€run€to€said€person€or€corporation.€The€provisions€of€thisŠ ‰Ł Šagreement€shall€apply€to€such€bond€or€note€and€mortgage,€and€if€the€loan€be€so€made,€it€shall€beŠ v Ę Šdeemed€a€compliance€by€the€lender€with€this€agreement.€The€lender€may€assign€this€agreementŠ c!³ Šand€the€bond€or€note€and€mortgage€and€cause€the€assignee€or€any€subsequent€assignee€to€makeŠ P"   Šany€advances€not€made€at€the€time€of€the€assignment,€and€all€the€provisions€of€this€agreementŠ =#! Šshall€continue€to€apply€to€said€loan€and€bond€or€note€and€mortgage.€In€case€the€loan€is€made€inŠ *$z" Šaccordance€with€any€of€the€methods€mentioned€in€this€paragraph€18,€it€shall€be€deemed€aŠ %g # Šcompliance€by€the€lender€with€this€agreement€and€to€have€been€made€pursuant€thereto€and€not€toŠ &T!$ Šbe€a€modification€thereof,€and€the€advances€so€made€shall€be€secured€by€said€bond€or€note€andŠ ń&A"% Šmortgage.Š Ž'.#& Š19.ą  ąIn€the€event€of€the€death€of€the€borrower€while€still€holding€title€to€the€mortgagedŠ Ė($' Špremises,€the€lender€may,€at€the€option€of€the€lender,€in€case€the€work€upon€the€saidŠ ø)%( Šimprovement€is€continued€as€provided€in€this€agreement,€continue€to€make€advances€under€thisŠ „*õ%) Šagreement€and€subject€to€all€its€terms€and€conditions€to€the€borrower's€executors€orŠ ’+ā&* Šadministrators;€and€all€sums€so€advanced€by€the€lender€shall€be€deemed€advances€under€thisŠ ,Ļ'+ Šagreement,€and€not€to€be€modifications€thereof,€as€if€made€to€the€borrower€in€his€lifetime,€andŠ l-¼(, Šshall€be€secured€by€said€bond€or€note€and€mortgage.Š ° Š20.€ą  ąThe€borrower€will€not€assign€this€contract€or€the€moneys€due€thereunder€or€convey€orŠ ķ Šencumber€the€property€without€the€written€consent€of€the€lender,€but€in€such€event€the€lenderŠ ŠŚ Šmay€nevertheless€at€the€option€of€the€lender€continue€to€make€advances€under€this€agreement€toŠ wĒ Šthe€borrower€or€to€those€who€succeed€to€the€borrower's€title;€and€all€sums€so€advanced€by€theŠ d“ Šlender€shall€be€deemed€advances€under€this€agreement,€and€not€to€be€modifications€thereof,€andŠ Q ” Šshall€be€secured€by€said€bond€or€note€and€mortgage.Š > Ž Š21.€ą  ąThe€borrower€further€agrees:€(i)€where€stairs€are€required,€to€erect€the€permanent€stairsŠ + { Šwith€temporary€treads€as€rapidly€as€the€framework€erected€will€permit;€(ii)€to€submit€to€theŠ  h Šlender,€for€the€lender's€approval€the€details€of€the€floor€construction€and€framing€plans€before€theŠ  U  Šcontract€therefor€is€let;€(iii)€to€give€the€lender€sufficient€notice€(a)€when€tests€of€the€plumbingŠ ņ B  Šand€heating€systems€and€structural€work€are€to€be€made;€any€further€tests€required€by€the€lenderŠ ß/  Šare€to€be€made€by€the€contractors€for€such€work€under€the€direction€of€the€lender€at€the€expenseŠ Ģ  Šof€the€borrower;€(b)€to€permit€an€examination€of€all€bottoms€before€any€foundation€materials€areŠ ¹  Šplaced€or€used;€and€(c)€to€make€an€inspection€after€floor€filling€is€completed€and€before€theŠ ¦ö  Šwood€flooring€is€laid€in€each€story.Š “ć  Š22.€ą  ąIn€case€city€sewers€have€not€been€installed€or€the€street€or€streets€adjacent€to€the€saidŠ €Š Špremises€have€not€been€paved,€the€borrower€shall€install€and€properly€connect€sewers€of€cityŠ m½ Šspecifications€as€to€size€and€quality€and€shall€pave€such€street€or€streets€so€as€to€have€the€sameŠ ZŖ Šconform€to€the€established€city€grade€thereof;€and€the€borrower€shall,€upon€demand,€furnishŠ G— Ševidence€satisfactory€to€the€lender€of€compliance€with€the€provisions€hereof.Š 4„ Š23.€ą  ąThe€borrower€covenants€and€agrees€not€to€do€any€act€or€thing€prohibited€by€the€terms€ofŠ !q Šthis€agreement,€and€it€is€expressly€agreed€that€in€any€of€the€following€events€all€obligation€on€theŠ ^ Špart€of€the€lender€to€make€said€loan€or€to€make€any€further€advance€shall,€if€the€lender€so€elect,Š ūK Šcease€and€terminate,€and€the€said€bond€or€note€and€mortgage€shall,€at€the€option€of€the€lender,Š č8 Šbecome€immediately€due€and€payable,€but€the€lender€may€make€any€advances€or€parts€ofŠ Õ% Šadvances€after€the€happening€of€any€of€the€following€events€without€thereby€waiving€the€right€toŠ Ā Šdemand€payment€of€the€mortgage€debt€and€without€becoming€liable€to€make€any€other€or€furtherŠ Æ’ Šadvances:Š œģ Š(a)ą  ąIf€the€mortgage€offered€by€the€borrower€does€not€give€to€the€lender€a€good€and€sufficientŠ ‰Ł Šlien€for€the€indebtedness€to€be€secured€thereby€on€said€premises€satisfactory€to€the€lender'sŠ v Ę Šattorney.Š c!³ Š(b)ą  ąIf€at€the€time€any€payment€is€due€to€the€borrower€the€title€is€not€satisfactory€to€theŠ P"   Šlender's€attorney,€regardless€of€whether€the€lien,€encumbrance€or€other€question€existed€at€theŠ =#! Štime€of€any€prior€advance.Š *$z" Š(c)ą  ąIf€the€borrower€assigns€this€contract€or€any€of€said€advances€or€any€interest€therein,€or€ifŠ %g # Šsaid€premises€are€conveyed€or€encumbered€in€any€way€without€the€written€consent€of€the€lender,Š &T!$ Šor€if€the€borrower€dies€before€receiving€the€final€advance€hereunder.Š ń&A"% Š(d)ą  ąIf€a€survey€shows€that€the€improvement€on€said€premises€encroaches€upon€the€street€orŠ Ž'.#& Šupon€adjoining€property,€or€any€adjoining€structure€encroaches€upon€said€premises€to€an€extentŠ Ė($' Šdeemed€material€by€the€lender's€attorney.Š ø)%( Š(e)ą  ąIf€the€borrower€does€not€take€the€loan€or€the€advances€within€thirty€days€after€they€areŠ „*õ%) Šmade€pay€able,€or€in€case€where€the€payment€of€advances€is€dependent€upon€the€erection€of€aŠ ’+ā&* Šnew€building,€the€building€be€not€fully€enclosed€withiną p ąą Č ą€€€€€€months€from€date€hereofŠ ,Ļ'+ Šor€in€any€event€if€the€improvement€be€not€fully€completed€and€ready€for€occupancy€withinŠ l-¼(, Šą  ąą ` ą€€months€from€date€hereof.Š ° Š(f)ą  ąIf€the€improvement€on€said€premises€is,€in€the€judgment€of€the€lender,€materially€injuredŠ ķ Šor€destroyed€by€fire€or€otherwise.Š ŠŚ Š(g)ą  ąIf€a€petition€in€bankruptcy€is€filed€by€or€against€the€borrower€or€a€receiver€or€trustee€ofŠ wĒ Šthe€property€of€the€borrower€is€appointed;€or€if€the€borrower€files€a€petition€for€reorganizationŠ d“ Šunder€any€of€the€provisions€of€the€Bankruptcy€Act€or€of€any€other€law,€state€or€federal,€or€makesŠ Q ” Šan€assignment€for€the€benefit€of€creditors€or€is€adjudged€insolvent€by€any€state€or€federal€court€ofŠ > Ž Šcompetent€Jurisdiction.Š + { Š(h)ą  ąIf€the€borrower€does€not€make€said€improvement€in€accordance€with€plans€andŠ  h Šspecifications€which€are€previously€furnished€to€and€approved€in€writing€by€the€lender€and€whichŠ  U  Šhave€been€filed€with€and€approved€by€all€governmental€authorities€having€jurisdiction,€and€inŠ ņ B  Šaccordance€with€all€laws,€rules,€regulations€and€requirements€of€such€governmental€authoritiesŠ ß/  Šexisting€at€the€commencement€of€the€improvement€and€any€amendments€thereof€and€additionsŠ Ģ  Šthereto€made€with€the€written€approval€of€the€lender€during€the€construction€of€the€improvementŠ ¹  Šor€fails€to€file€amended€or€supplemental€plans€and€specifications,€if€required€because€of€suchŠ ¦ö  Šamendments€and€additions€after€first€obtaining€the€written€approval€thereof€by€the€fender€and€theŠ “ć  Šapproval€of€such€governmental€authorities;€or€if€the€borrower€fails€to€furnish€the€lender€with€aŠ €Š Šwritten€certificate€issued€by€the€department€of€the€governmental€authority€in€the€locality€inŠ m½ Šwhich€the€property€is€situated€having€jurisdiction€thereof€approving€said€plans€and€specificationsŠ ZŖ Šand€any€amended€and€supplemented€plans€and€specifications€where€such€department€hasŠ G— Šjurisdiction.Š 4„ Š(i)ą  ąIf€the€owner€of€said€premises€does€not€permit€the€lender,€or€representatives€of€the€lenderŠ !q Što€enter€upon€said€premises€and€inspect€the€improvement€thereon€at€all€reasonable€times€andŠ ^ Šexamine€all€detailed€plans,€shop€drawings€and€specifications€which€are€kept€at€the€work,€or€failsŠ ūK Što€furnish€to€them,€when€requested,€copies€of€such€plans,€drawings€and€specifications.Š č8 Š(j)ą  ąIf€for€any€cause€whatever€the€construction€of€said€improvement€is€at€any€timeŠ Õ% Šdiscontinued€or€not€carried€on€with€reasonable€dispatch€in€the€judgment€of€the€lender.Š Ā Š(k)ą  ąIf€the€borrower€executes€any€chattel€mortgage€on€any€materials,€fixtures€or€articles€usedŠ Æ’ Šin€the€construction€or€operation€of€the€improvement€or€appurtenant€thereto,€or€articles€ofŠ œģ Špersonal€property€placed€in€said€premises,€or€if€any€such€materials,€fixtures€or€articles€are€notŠ ‰Ł Šsatisfactory€to€the€lender€or€are€purchased€on€conditional€bill€of€sale€or€otherwise€so€that€theŠ v Ę Šownership€thereof€will€not€vest€unconditionally€in€the€borrower,€free€from€encumbrance,€onŠ c!³ Šdelivery€at€the€premises;€and€if€the€borrower€does€not€furnish€to€the€lender,€if€requested,€theŠ P"   Šcontracts,€bills€of€sale,€statements,€receipted€vouchers€and€agreements,€or€any€of€them,€underŠ =#! Šwhich€the€borrower€claims€title€to€such€materials,€fixtures€and€articles.Š *$z" Š(l)ą  ąIf€the€borrower€fails€to€comply€with€any€requirement€of€any€governmental€authorityŠ %g # Šhaving€jurisdiction€within€thirty€days€after€notice€in€writing€of€such€requirement€shall€have€beenŠ &T!$ Šgiven€to€said€borrower;€or€fails€to€furnish€to€the€lender,€when€requested,€official€searches€madeŠ ń&A"% Šby€the€governmental€authorities€having€jurisdiction.Š Ž'.#& Š(m)ą  ąIf€the€borrower€does€not€disclose€to€the€lender,€upon€demand,€the€names€of€all€personsŠ Ė($' Šwith€whom€the€borrower€contracted€or€intends€to€contract€for€the€construction€of€saidŠ ø)%( Šimprovement€or€the€furnishing€of€labor€or€materials€therefor.Š „*õ%) Š(n)ą  ąIf€the€borrower€permits€any€purchaser€or€prospective€purchaser€to€occupy€the€premisesŠ ’+ā&* Šbefore€this€agreement€shall€have€been€fully€performed€and€the€final€advance€made€thereunder.Š ,Ļ'+ Š(o)ą  ąIf€the€borrower€fails€to€keep,€observe€or€perform€any€of€the€conditions,€stipulations,Š l-¼(, Šagreements€or€covenants€contained€in€this€agreement€or€in€the€said€bond€or€note€or€mortgage.Š ° Š24.€ą  ąIn€the€event€that€more€than€one€mortgage€is€executed€pursuant€to€this€agreement€andŠ ķ Šthere€should€be€any€default€by€the€borrower€in€the€performance€of€any€of€the€conditions,Š ŠŚ Šstipulations,€agreements€and€covenants€contained€in€this€agreement€or€in€any€of€the€bonds€orŠ wĒ Šnotes€and€mortgages€given€in€connection€therewith,€then,€at€the€option€of€the€lender,€theŠ d“ Šprincipal€indebtedness€secured€by€all€or€any€of€such€bonds€or€notes€and€mortgages€shallŠ Q ” Šimmediately€become€due€and€payable€and€all€or€any€such€mortgages€may€be€foreclosed€in€eitherŠ > Ž Šone€or€more€actions,€and€any€judgment€of€foreclosure€and€sale€obtained€therein€may€direct€thatŠ + { Šthe€mortgaged€premises€covered€by€all€the€mortgages€sought€to€be€foreclosed€in€such€action€beŠ  h Šsold€in€one€parcel.Š  U  Š25.€ą  ąThe€borrower,€in€compliance€with€Section€13€of€the€Lien€Law,€covenants€that€theŠ ņ B  Šborrower€will€receive€the€advances€to€be€made€hereunder€and€to€be€secured€by€the€mortgageŠ ß/  Šexecuted€pursuant€hereto€and€will€hold€the€right€to€receive€such€advances€as€a€trust€fund€to€beŠ Ģ  Šapplied€first€for€the€purpose€of€paying€the€cost€of€improvement,€and€will€apply€the€same€first€toŠ ¹  Šthe€payment€of€the€cost€of€improvement€before€using€any€part€of€the€total€of€the€same€for€anyŠ ¦ö  Špurpose.Š “ć  Š26.€ą  ąAnd€it€is€mutually€understood€and€agreed€by€and€between€the€parties€hereto€on€behalf€ofŠ €Š Šthemselves€and€their€respective€personal€representatives€or€successors€in€interest€that€the€bond€orŠ m½ Šnote€and€mortgage€contemplated€to€be€executed,€acknowledged€and€delivered€pursuant€to€thisŠ ZŖ Šagreement€shall€be€made€subject€to€all€the€conditions,€stipulations,€agreements€and€covenantsŠ G— Šcontained€in€this€agreement,€to€the€same€extent€and€effect€as€they€would€be€if€fully€set€forth€inŠ 4„ Šand€made€part€of€said€bond€or€note€and€mortgage,€until€this€agreement€is€terminated€by€theŠ !q Šcompletion€of€the€improvement€described€herein€and€the€making€of€the€final€advance€hereunderŠ ^ Šas€provided€for€herein;€and€it€is€further€expressly€understood€and€agreed€that€this€agreement€isŠ ūK Šmade€subject€to€all€the€conditions,€stipulations,€agreements€and€covenants€contained€in€saidŠ č8 Šbond€or€note€and€mortgage,€to€the€same€extent€and€effect€as€they€would€be€if€fully€set€forthŠ Õ% Šherein€and€made€part€hereof.Š Ā ŠĢĢĢĢĢĢĢĢĢĢĢą  ąA€true€statement€under€oath,€verified€by€the€borrower€as€required€by€Section€22€of€theŠ Ž'.#& ŠLien€Law,€is€attached€hereto€and€made€part€of€this€agreement.Š Ė($' Šą  ąThis€agreement€may€not€be€changed€or€terminated€orally.€Wherever€the€word€"lender"€isŠ ø)%( Šused€herein€it€shall€be€deemed€to€include€also€the€personal€representatives,€successors€andŠ „*õ%) Šassigns€of€the€lender.Š ’+ā&* ŠIN€WITNESS€WHEREOF,€the€parties€hereto€have€duly€executed€this€agreement€the€day€and€yearŠ ,Ļ'+ Šfirst€above€written.Š l-¼(, ŠIN€PRESENCE€OF:Š ° ŠĢĢĢĢĢĢĢĢĢĢĢSTATE€OF€NEW€YORK,€COUNTY€OFą Ą ąą  ąą p ąą Č ąss.:Š Ģ  Šą  ąbeing€duly€sworn,€deposes€and€says:Š ¹  ŠI€reside€at€No.Š ¦ö  ŠI€am€theą ` ąofŠ “ć  Šthe€borrower€mentioned€in€the€within€building€loan€contract.Š €Š ŠThe€consideration€paid,€or€to€be€paid,€by€the€borrower€to€the€lender€for€the€loan€described€thereinŠ m½ ŠisŠ ZŖ ŠDollarsŠ G— Š($€ą  ąą ` ąą ø ą€€€€€€€€€€€€€€),€and€that€all€other€expenses€incurred,€or€to€be€incurred,€inŠ 4„ Šconnection€with€said€loan€are€as€follows:Š !q ŠĢĢĢBroker's€commission,ą ø ą$Š Õ% ŠĢExamination€and€insurance€ofŠ Æ’ Štitle€and€recording€fees,ą  ą$Š œģ ŠĢMortgage€tax,€Architect's,€Š v Ę Šengineer's€and€surveyor's€fees,ą h ą$Š c!³ ŠĢInternal€revenue€stamp€taxes,€ą h ą$Š =#! ŠĢInspections,ą ` ą$Š %g # ŠĢAppraisals,ą ` ą$Š ń&A"% ŠĢConveyancing,ą ø ą$Š Ė($' ŠĢBuilding€loan€service€fees,ą  ą$Š „*õ%) ŠĢSums€paid€to€take€by€assignment€prior€existing€mortgages€which€are€consolidated€with€buildingŠ ,Ļ'+ Šloan€mortgages€and€also€the€interest€charges€on€such€mortgages,ą Č ą$Š l-¼(, ЇSums€paid€to€discharge€or€reduce€the€indebtedness€under€mortgages€and€accrued€interest€thereonŠ ° Šand€other€prior€existing€encumbrances,ą Ą ą$Š ķ ŠĢSums€paid€to€discharge€building€loan€mortgages€whenever€recorded,ą  ą$Š wĒ ŠĢTaxes,€assessments,€water€rents€and€sewer€rents€paid€(existing€prior€to€commencement€ofŠ Q ” Šimprovement).ą ø ą$Š > Ž ŠĢĢĢĢĢĢĢĢĢĢand€that€the€net€sum€available€to€the€said€borrower€for€the€improvement€isŠ m½ ŠDollars,Š ZŖ Š($ą  ąą ` ąą ø ą€€€€€€€€€€€€€€€),€less€such€amounts€as€may€become€due€or€payable€for€insuranceŠ G— Špremiums,€interest€on€building€loan€mortgages,€ground€rent,€taxes,€assessments,€water€rents€andŠ 4„ Šsewer€rents€accruing€during€the€making€of€the€improvement.Š !q ŠĢĢĢĢĢThis€statement€is€made€pursuant€to€Section€22€of€the€Lien€Law€of€the€State€of€New€York.Š Æ’ ŠThe€facts€herein€stated€are€true€to€the€knowledge€of€the€deponent.Š œģ ŠĢĢĢĢĢ________________________________Š *$z" ŠĢSworn€to€before€me€thisŠ &T!$ Šday€ofą  ąą ` ąą ø ąin€the€yearŠ ń&A"% ŠĢĢSTATE€OF€NEW€YORK,€COUNTY€OFŠ ø)%( ŠOn€theą  ą€€€€€€€€€day€ofą ø ą€€€€€€€€€€€€€€€€€€€€€€€€€in€the€yearą  ą€€€€€€,€before€me,€the€undersigned,€personallyŠ „*õ%) ŠappearedŠ ’+ā&* ŠĢą  ąą ` ą,€personally€known€to€me€or€proved€to€me€on€the€basis€of€satisfactory€evidence€toŠ l-¼(, Šbe€the€individual(s)€whose€name(s)€is€(are)€subscribed€to€the€within€instrument€andŠ ° Šacknowledged€to€me€that€he/she/they€executed€the€same€in€his/her/their€capacity(ies),€and€that€byŠ ķ Šhis/her/their€signature(s)€on€the€instrument,€the€individual(s),€or€the€person€on€behalf€of€whichŠ ŠŚ Šthe€individual(s)€acted,€executed€the€instrument.Š wĒ ŠĢĢĢĢĢĢSTATE€OFą ` ąą ø ą,€COUNTY€OFŠ ņ B  ŠOn€theą  ą€€€€€€€€€€day€ofą ø ą€€€€€€€€€€€€€€€€€€€€€€€€€in€the€yearą  ą€€€€€€,€before€me,€the€undersigned,€a€NotaryŠ ß/  ŠPublic€in€and€for€said€State,€personally€appearedą  ąą p ąą Č ąą  ąą x ąą Š ą€€€€€€€€€€€Š Ģ  Š,€theŠ ¹  Šsubscribing€witness€to€the€foregoing€instrument,€with€whom€I€am€personally€acquainted,€who,Š ¦ö  Šbeing€by€me€duly€sworn,€did€depose€and€say€that€he/she/they€reside(s)€inŠ “ć  ŠĢ(if€the€place€of€residence€is€in€a€city,€include€the€street€and€street€number€if€any,€thereof);€thatŠ m½ Šhe/she/they€know(s)Š ZŖ ŠĢto€be€the€individual€described€in€and€who€executed€the€foregoing€instrument;€that€saidŠ 4„ Šsubscribing€witness€was€present€and€saw€saidŠ !q ŠĢexecute€the€same;€and€that€said€witness€at€the€same€time€subscribed€his/her/their€name(s)€as€aŠ ūK Šwitness€theretoŠ č8 ŠĢ[add€the€following€if€the€acknowledgment€is€taken€outside€NY€State]€Š Ā Šand€that€said€subscribing€witness€made€such€appearance€before€the€undersigned€in€the€€(insertŠ Æ’ Šthe€city€or€other€political€subdivision€and€the€State€or€country€or€other€place€the€proof€wasŠ œģ Štaken).Š ‰Ł ŠĢĢĢĢĢĢĢSTATE€OFŠ ń&A"% ŠOn€theą  ą€€€€€€€€€€€day€ofą ø ą€€€€€€€€€€€€€€€€€€€€€€€€€in€the€yearą  ą€€€€€€,€before€me,€the€undersigned,€personallyŠ Ž'.#& ŠappearedŠ Ė($' ŠĢą  ąą ` ą,€personally€known€to€me€or€proved€to€me€Š „*õ%) Šon€the€basis€of€satisfactory€evidence€to€be€the€individual(s)€whose€name(s)€is€(are)€subscribed€toŠ ’+ā&* Šthe€within€instrument€and€acknowledged€to€me€that€he/she/they€executed€the€same€inŠ ,Ļ'+ Šhis/her/their€capacity(ies),€and€that€by€his/her/their€signature(s)€on€the€instrument,€theŠ l-¼(, Šindividual(s),€or€the€person€on€behalf€of€which€the€individual(s)€acted,€executed€the€instrumentŠ ° Š[add€the€following€if€the€acknowledgment€is€taken€outside€NY€State]€Š ķ Šand€that€said€individual€made€such€appearance€before€the€undersigned€in€the€€(insert€the€city€orŠ ŠŚ Šother€political€subdivision€and€the€State€or€country€or€other€place€the€acknowledgment€wasŠ wĒ Štaken).Š d“ ŠĢĢĢĢĢĢSTATE€OFą ` ąą ø ą,€COUNTY€OFŠ ß/  ŠOn€theą  ą€€€€€€€€€€day€ofą ø ą€€€€€€€€€€€€€€€€€€€€€€€€€in€the€yearą  ą€€€€€€,€before€me€personally€cameŠ Ģ  ŠĢto€me€known,€who,€being€by€me€duly€sworn,€did€depose€and€say€Š ¦ö  Šthat€€€€€he€resides€atŠ “ć  Šthat€€€€€he€is€the€Š €Š Šof€Š m½ Šthe€corporation€described€in€and€which€executed€the€foregoing€instrument;€that€€€€€he€knows€theŠ ZŖ Šseal€of€said€corporation;€€that€the€seal€affixed€to€said€instrument€is€such€corporate€seal;€that€itŠ G— Šwas€so€affixed€by€order€of€the€board€of€directors€of€said€corporation,€and€that€€€€he€signed€h€€€€€€Š 4„ Šname€thereto€by€like€order.Š !q ŠĢĢĢĢĢĢĢĢĢĢĢĢBuilding€Loan€ContractŠ *$z" ŠTITLE€NO.Š %g # ŠĢĢTOŠ Ž'.#& ŠĢĢĢSECTIONŠ ’+ā&* ŠBLOCKŠ ,Ļ'+ ŠLOTŠ l-¼(, ŠCOUNTY€OR€TOWNŠ ° ŠĢĢĢĢĢĢDistributed€ByŠ + { ŠChicago€Title€Insurance€CompanyŠ  h ŠĢĢĢ.Š Ģ  ŠRETURN€BY€MAIL€TO:Š ¹  ŠĢĢĢĢPage€1Š ZŖ ŠĢ