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NYC DEPARTMENT OF FINANCE
OFFICE OF THE CITY REGISTER
This page is part
of the instrument.
The City
Registerwillrelyon the informationprovided
by you on thispage forpurposes of indexing
thisinstrument.The information on thispage
willcontrolfor indexingpurposes inthe event
of anyconflictwith the rest
ohhe document.
2009051300508001002E3641
RECORDING AND ENDORSEMENT COVER PAGE PAGE 1 OF 22
Document ID: 2009051300508001 Document Date: 01-13-2009 Preparation Date: 05-21-2009
Document Type: MORTGAGE
Document Page Count: 21
PRESENTER: RETURN TO:
NATIONAL GRANITE TITLE (PICK UP- NATIONAL GRANITE TITLE (PICK UP-
B.C.) B.C.)
155 NORTH MAIN STREET 155 NORTH MAIN STREET
GR-24832 GR-24832
NEW CITY, NY 10956 NEW CITY, NY 10956
845-639-1415 845-639-1415
mwittenberg@nationalgranite.com mwittenberg@nationalgranite.com
PROPERTY DATA
Borough Block Lot Unit Address
BROOKLYN 3807 10 Entire Lot 561 NEW JERSEY AVENUE
Type: DWELLING ONLY - 2 FAMILY
Property
CROSS REFERENCE DATA
CRFN or Document ID _ or Year_____ Reel ____ Page_____ or FileNumber
PARTIES
MORTGAGOR/BORROWER: |MORTGAGEE/LENDER:
BENIAH ANOKAM ESTATE OF LEROY BRODWITH
561 NEW JERSEY AVENUE , C/O JONATHAN BACHRACH, ESQ., 44 WALL
BROOKLYN, NY 11207 STREET, 14TH FL.
i NEW YORK, NY 10005
FEES AND TAXES
Mortgage Filing Fee:
Mortgage Amount: 160,000.00 $ 0.00
I5
Taxable Mortgage Amount: $ 160,000.00 NYC Real Property Transfer Tax:
Exemption: $ 0.00
~NYS Real Estate Transfer Tax:
TAXES: County (Basic): $ 800.00
City (Additional): $ 1,600.00 $ 0.00
Spec (Additional): 1$ 0.00 RECORDED OR FILED IN THE OFFICE
TASF: $ 400.00 ~~ F THE CITY REGISTER OF THE
'
MTA: $ 450.00 E. I CITY OF NEW YORK
NYCTA: $ 0.00 Z Recorded/Filed 05-21-200915:31
Additional MRT: ,$_
$ __ _ 0.00
«Q< „"I/
CityRegisterFileNo.(CRFN):
TOTAL: $ 3,250.00 .. 2009000152835
"
Recording Fee: S 142.00 Taft.
Affidavit Fee: $__ 0.00
Cit Re ister0 teialSi nature
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I
Q
I
PURCHASE MONEY MORTGAGE
QgH'
W-a-y IJ
MORTGAGE, dated November ,2005, made by Beniah Anokam, having
(" Mortgagor"
an address 561 New Jersey Avenue, Brooklyn, NY ("Mortgagor"), tothe Estate of Leroy
14*
Brodwith, having an address atc/o Jonathan Bachrach, Esq. 44 Wall Street, 14 Floor, New
Mortgagee"
York, NY 10005 ("Mortgagee").
Recital
Mortgagor isjustly indebted to Mortgagee in the sum of One Hundred Sixty
Thousand ($160,000.00) Dollars, which is evidenced by a Purchase Money Note of
"Note"
Mortgagor of even date herewith in said principal amount (the "Note"). Mortgagor, in order
to secure the payment of the Note, has duly executed and delivered thisMortgage.
This Mortgage is a purchase money Mortgage given by Mortgagor to secure
a portion of the purchase price required to be paid by Mortgagor to Mortgagee in connection
with the purchase of the Property hereinafter described.
Definitions
Mortgagor and Mortgagee agree that, unless the context hereof otherwise
specifies or requires, the following terms shall have the meanings herein specified. Said
definitions shallbe applicable equally to the singular and the plural forms of such terms.
"Chattels"
shallmean allfixtures, fittings,appliances, apparatus, equipment,
machinery and articles of personal property and replacements thereof, other
than those owned by lessees, now or atany time hereafter affixed to,attached
to,placed upon, or used in any way in connection with the complete and
comfortable use, enjoyment, occupancy or operation of the Improvements on
the Premises.
Default"
"Eventof shall mean any event or circumstance described as an Event
of Default in Section 2.01 hereof.
"Improvements"
shall mean allstructures or buildings now or hereafter located
upon the Premises or any part thereof, including all equipment, apparatus,
machinery and fixtures of every kind and nature whatsoever forming part of
said structures or buildings.
Rate"
"Involuntary shall mean the lesser of eighteen percent per annum or the
maximum rate permitted by law,
"Property"
shall mean the Premises, the Improvements, the Chattels and all
other property, rights and interests described in the Granting Clause of this
Mortgage.
~~I' dAIDPREASESIMPROVEDa
onsonmoPanyonause
6Loc 3
ONLY
ri
if
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I I I S
"Premises"
shall mean:
ALL that certainplot, piece or parcel of land, with the buildings
and improvements thereon erected, situate,lying and being in
The City of New Y ork, the County of Kings and the State of
New York, being more particularly described in Schedule A
attached hereto and made a part hereof,
TOGETHER with all right, title and interest, if any, of
Mortgagor in and to any streets and roads abutting the above
described premises to the center lines thereof,
TOGETHER with the appurtenances and all the estate and
rights of Mortgagor in and to saidpremises.
Said premises is identified as Section 12, Block 3807, Lot 10,
Kings County.
Which premises are also known as 561 New Jersey Avenue,
Brooklyn, NY
All terms in thisMortgage which are not defined above shall have the meanings set forthin
this Mortgage.
Granting Clause
NOW, THEREFORE, in consideration of the premises and for value
received, and in order to secure the payment of the principal, interest and any other sums
payable under the Note and this Mortgage, and the observance and performance of the
provisions hereof and of the Note, Mortgagor hereby mortgages to the Mortgagee allthe
estate, right, titleand interest of Mortgagor in,to and under any and allof the following
"Property"
described property (the "Property"), whether now owned or hereafter acquired:
(a) the Premises;
(b) the Improvements;
(c) the Chattels;
(d) allleases of the Premises, now or hereafter entered into, and all right,title
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and interestof Mortgagor thereunder, including without limitation, allcash or
securities deposited thereunder to secure the payment or performance by the
lessees of their obligations thereunder, whether such cash or securities are to
be held until the expiration of the terms of such leases or applied to one or
more ofthe installments ofrent coming due immediately priorto theexpiration
of such terms, and including the right, upon the happening of an Event of
Default, to receive and collect the rents thereunder; and
(e) all proceeds of the conversion, voluntary or involuntary, of any of the
foregoing intocash orliquidated claims, including withoutlimitation insurance
proceeds and condemnation awards.
ARTICLE I
Covenants of Mortgagor
Mortgagor covenants and agrees as follows:
1.01. Mortgagor shall pay the principal,interest and allother sums to become
due under the Note, atthe time and place and in the manner specified in the Note, in the coin
or currency of the United States of America which atthe time of such payment shall be legal
tender for the payment of public and private debts.
1.02. Mortgagor represents and warrants thatithas good and marketable title
to the Premises; thatthe Premises are subject to no lien, claim or encumbrance except as set
forth herein; that Mortgagor now and hereafter will own the Chattels free and clear of all
liens, claims and encumbrances; and that this Mortgage is and will remain a valid and
enforceable firstlien on the Property; and that Mortgagor has fullpower and lawful authority
to mortgage the Property as herein provided. Mortgagor forever shall preserve, warrant and
defend such titleto Mortgagee, and forever shall preserve, warrant and defend the validity
and priorityof the lien hereof against the claims of allpersons and parties whomsoever.
1.03. Mortgagor, at Mortgagor's sole cost and expense, shall do, execute,
acknowledge and deliver alland every such further acts, deeds, mortgages, assignments,
transfers and assurances as Mortgagee from time to time shallrequire, for thebetter assuring,
mortgaging, assigning, transferring and confirming unto Mortgagee the property and rights
hereby mortgaged, assigned, transferred or intended now or hereafter to be mortgaged,
assigned or transferred, or forcarrying out the intention or facilitatingthe performance of the
terms of this Mortgage, or for filing,registering or recording thisMortgage. All right, title
and interest of Mortgagor in and to all extensions, improvements, betterments, renewals,
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I
substitutions and replacements of, and alladditions and appurtenances to,the Premises, now
owned by, hereafter acquired by, or released to Mortgagor, or constructed, assembled or
placed by Mortgagor on the Premises, and allconversions of the security of this Mortgage,
immediately upon such acquisition, release, construction, assembling, placement or
without further assignment or other act Mort-
conversion, any mortgage, conveyance, by
gagor, shall become subject to the lien of thisMortgage as fullyand completely, and with the
same effect, as though now owned by Mortgagor and specifically described in the granting
clause hereof. Mortgagor, on demand, shall execute and deliver to Mortgagee any and all
such further assurances, mortgages, conveyances or assignments thereof as Mortgagee may
require for the purpose of expressly and specifically subjecting the same to the lien of this
Mortgage. Mortgagor, upon the execution and delivery of this Mortgage, and thereafteron
demand, at Mortgagor's sole cost and expense shall cause this Mortgage and any security
instrument creating or evidencing a lienupon the Chattels or any other property to be secured
hereby, and any other instrument of further assurance or instrument supplemental hereto or
given in connection herewith, to be filed,registered or recorded in such manner and insuch
place or places as may be required by any present or future law in order to publish notice of
and fully to protect the lien hereof upon, and the interestof Mortgagee in,the Property.
1.04. Mortgagor shallkeep the Property free from statutory liens ofevery kind
workmen'
or nature, including, without limitation, mechanic's liens,material men's liens,workmen's
liens,liens for supplying fixtures, appliances, materials or doing any work or improvements
on or about the Premises, and shall pay and discharge when due alltaxes of every kind or
nature, general and special assessments, levies,permits, inspection and license fees, water
and sewer rents and charges, and other governmental or public charges, fines and
impositions, whether of a like or different nature, which are or may be levied or imposed
upon, or assessed against, the Property or any partthereof, or upon the revenues, income,
rents, issues and profits of the Property or arising in respect of the occupancy, use or
possession thereof. Mortgagor, upon the request of Mortgagee, shall deliver to Mortgagee
receipts evidencing the payment of allsuch taxes, assessments, levies, fees, rents, charges,
fines and impositions. For purposes of this Mortgage, assessments which have been made
payable in installments at theapplication of Mortgagornevertheless shallbe deemed due and
payable in their entirety on the earlierof the day the firstinstallment becomes due orpayable
or a lien.
1.05. Mortgagee, at the option of Mortgagee, to be exercised by ten days
written notice, may require Mortgagor to pay monthly, an additional amount sufficient to pay
and discharge thirty days prior to the date when due, all taxes, assessments and other
obligations under Section 1.04 above. Mortgagee agrees not to exercise such option unless
and until Mortgagee shall have failed to timely pay and discharge taxes on a prior occasion
for more than thirty (30) days or in the event Mortgagor isin default in the payment of any
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Mortgage payment secured by the Premises. The determination of the amounts to be
deposited with Mortgagee, so that the aggregate of such deposits shall be sufficient to pay
such obligations, shall be made by Mortgagee in itssole discretion. Such amounts shall be
held by Mortgagee, without interest,and shallbe applied to thepayment of such obligations
in respect to which such amounts were deposited or, at the option of Mortgagee, to the
of said obligations in such order or priorityas Mortgagee shall determine, when and
as payable, provided Mortgagor is not in default hereunder. Mortgagor shall furnish to
Mortgagee bills for allof the obligations for which deposits are to be made hereunder and
such other documents and information as may be needed for thepayment of such obligations,
at leastthirtydays prior to the date on which such obligations firstbecome payable. Ifthirty
days prior to the due date of any of the aforesaid obligations the amounts then on deposit
therefor shall be insufficient to pay and discharge such obligations in full, Mortgagor on
demand shall deposit the amount of the deficiency with Mortgagee. In the event of any
defaultby Mortgagor under any provision of thisMortgage, Mortgagee at Mortgagee's option
may apply any amounts deposited pursuant to this Section 1.05 to the payment of principal,
interestor other obligations secured hereby, in lieuof applying such amounts for thepayment
of the obligations for which such amounts were deposited. Nothing herein contained shall
be deemed to affect any other rights or remedies of Mortgagee under any otherprovisions
of thisMortgage, or under any statute or rule of law, including without limitation the right
to pay any such amount and to add the amount so paid, together with interest at the
Involuntary Rate, to the indebtedness hereby secured.
1.06. Mortgagor shallpay all filing,registration or recording fees, allFederal,
State, county and municipal taxes, duties, imposts, assessments and charges, and all
expenses incident to the execution, acknowledgment, delivery and recording of this
Mortgage, the Note, any security instrument with respect to the Chattels, any instrument of
further assurance and any other instrument supplemental hereto or tobe given in connection
herewith. If Mortgagor failsto make any such payment within five days after demand,
Mortgagee in addition to its other rights and remedies, may pay the amount due, and
Mortgagor, on demand, shall reimburse Mortgagee for said amount, together with interest
thereon atthe Involuntary Rate from the date of such advance to the date of reimbursement.
The amount so advanced by Mortgagee and such interest shall be a part of the indebtedness
secured by this Mortgage. In the event of the passage of any law deducting from the value
of the Premises, for purposes of taxation, the amount of any lien thereon or changing in any
way the laws for the taxation of Mortgages or debts secured by Mortgages or the manner of
the collection of any such taxes, so as to effectthis Mortgage; then the indebtedness secured
hereby, at the option of Mortgagee and upon thirty days notice to Mortgagor, immediately
shall become due and payable, provided, however, that said option shall be unavailing and
the Note and this Mortgage shall remain in effect if,without violating such law or any
applicable usury or other law, Mortgagor lawfully pays when due such taxes, including any
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interest or penalties thereon, to or for Mortgagee.
1.07. Mortgagor shall pay, from time to time when due, alllawful claims and
demands of mechanics, materialmen, laborers and others which, ifunpaid, might resultin,
or permit the creation of, a lien on the Property or any part thereof, or on the revenues,
income, rents, issues and profits arising therefrom. Mortgagor shall do or cause to be done
everything necessary so that thelien hereof shallbe fully preserved, at thecost of Mortgagor,
without expense to Mortgagee.
1.08. Mortgagor shall not be required to pay the obligations imposed upon
Mortgagor by Sections 1.04, 1.06 or 1.07 hereof so long as Mortgagor, in good faith and at
itsown expense, shall contest the validity or amount of such obligation by appropriate legal
proceedings, provided such proceedings shall prevent the collection thereof or other
realization thereon and shall not result in the sale or forfeiture of the Property or any part
thereof to satisfythe same. During any such contest Mortgagor, atthe option of Mortgagee,
shall provide security satisfactory to Mortgagee assuring the discharge of Mortgagor's
obligations hereunder and of any additional charge, penalty or expense arising from or
incurred as a result of such contest. If atany time the payment of any obligation imposed
upon Mortgagor under Section 1.04 shallbecome necessary to prevent the delivery of a tax
deed conveying the Premises or any portion thereof because of nonpayment, then Mortgagor
shallpay such obligation in sufficient time to prevent the delivery of such tax deed.
1.09. Mortgagor shallkeep the Improvements and Chattels insured for their
respective replacement values, for the benefit of Mortgagee, against loss by fire,
casualty and
such other hazards as may be specified by Mortgagee in an amount no lessthan the total
amount of other liens and encumbrances on the Property, plus $160,000.00. Mortgagor shall
also maintain rent insurance in an amount equal to 100% of the rents collectible from the
Property for a period of not less than one year.All insurance to be maintained by Mortgagor
hereunder shall be written in forms, amounts and by companies reasonably satisfactory to
Mortgagee, naming Mortgagee as insured. Mortgagor shall pay when due allpremiums for
such insurance. Proof of such insurance shallbe delivered at closing. The policy or policies
of such insurance, and renewals thereof, shallbe delivered to Mortgagee within thirty(30)
days of the date hereof and shall have attached thereto a standard non-contributing mortgagee
endorsement in favor of and entitling Mortgagee to collect any and allproceeds payable
under allsuch insurance, as well as a standard waiver of subrogation endorsement, and shall
contain provisions for ten days notice to Mortgagee prior to any cancellation thereof, allin
form and substance satisfactory to Mortgagee. Mortgagor shallreimburse Mortgagee on
demand for any premiums for insurance paid by Mortgagee, together with interestat the
Involuntary Rate, on Mortgagor's default in maintaining any insurance required hereunder
or indelivering the insurance policies to Mortgagee as provided herein. Mortgagor shall give
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Mortgagee prompt notice of any loss covered by such insurance. Mortgagee is hereby
authorized to collect, adjust and compromise all losses covered by such insurance.
Mortgagor shall have the right to join Mortgagee in adjusting any loss not in excess of
$50,000. Any moneys received as payment for any loss under any such insurance shall be
paid over to Mortgagee to be applied, at the option of Mortgagee, either to the prepayment
of the Note, without premium, or to the reimbursement of Mortgagor for expenses incurred
by itin the restoration of the Improvements, except that where the loss isten (10%) percent
or less of the value of the Property, in which event the Mortgagor shall have the option to
apply the proceeds to repair the loss. Mortgagor shall not take out separate insurance
concurrent in form or contributing in the event of loss with that required to be maintained
hereunder, unless such insurance names Mortgagee as insured, with any and allproceeds
payable to Mortgagee under a standard mortgage endorsement of the character above
described. Mortgagor promptly shall deliver to Mortgagee the policy or policies of such
insurance.
1.10 Mortgagor shall keep adequate records and books of account in
accordance with generally accepted accounting principles and shallpermit Mortgagee, and
the agents, accountants and attorneys of Mortgagee, to visitand inspect the Premises and
examine the records, books of account and papers of Mortgagor which reflect upon its
financial condition, the income and expenses of the Property or the business conducted
thereat, and to discuss the affairs, finances and accounts of Mortgagor with the officers,
agents, accountants and attorneys of Mortgagor, at such reasonable times as Mortgagee may
request. Mortgagor promptly shall make available to Mortgagee uponrequest, copies of such
books, records, financial statements, documents and such other information with respect to
Mortgagor and the Property as Mortgagee from time to time reasonably may request.
1.1 1. Mortgagor shall not commit, suffer or permit any waste on or to the
Property, except fordemolition of interior partitions and fixtures done for a tenant under a
new or renewed lease or in connection with a premises that has become vacant. Mortgagor
at alltimes shall maintain the Improvements in go
Preview
FILED: FILED: KINGS KINGS COUNTY COUNTY CLERK CLERK 07/12/2018 04/24/2018 05:02 08:06 PM INDEX INDEX NO. NO. 508445/2015 508445/2015 PM| NYSCEF NYSCEF DOC. DOC. NO. NO. 84 64 RECEIVED RECEIVED NYSCEF: NYSCEF: 07/12/2018 04/24/2018 EXHIBIT 4 FILED: FILED : KINGS KINGS COUNTY COUNTY CLERK CLERK 07/12/2018 04/24/2018 05:02 08:0 6 PM INDEX INDEX NO. NO. 508445/2015 5 0 8 4 4 5 / 2 0 15 PM| NYSCEF NYSCEF DOC. DOC. NO. NO. 84 64 RECEIVED RECEIVED NYSCEF: NYSCEF: 07/12/2018 04/24/2018 NYC DEPARTMENT OF FINANCE OFFICE OF THE CITY REGISTER This page is part of the instrument. The City Registerwillrelyon the informationprovided by you on thispage forpurposes of indexing thisinstrument.The information on thispage willcontrolfor indexingpurposes inthe event of anyconflictwith the rest ohhe document. 2009051300508001002E3641 RECORDING AND ENDORSEMENT COVER PAGE PAGE 1 OF 22 Document ID: 2009051300508001 Document Date: 01-13-2009 Preparation Date: 05-21-2009 Document Type: MORTGAGE Document Page Count: 21 PRESENTER: RETURN TO: NATIONAL GRANITE TITLE (PICK UP- NATIONAL GRANITE TITLE (PICK UP- B.C.) B.C.) 155 NORTH MAIN STREET 155 NORTH MAIN STREET GR-24832 GR-24832 NEW CITY, NY 10956 NEW CITY, NY 10956 845-639-1415 845-639-1415 mwittenberg@nationalgranite.com mwittenberg@nationalgranite.com PROPERTY DATA Borough Block Lot Unit Address BROOKLYN 3807 10 Entire Lot 561 NEW JERSEY AVENUE Type: DWELLING ONLY - 2 FAMILY Property CROSS REFERENCE DATA CRFN or Document ID _ or Year_____ Reel ____ Page_____ or FileNumber PARTIES MORTGAGOR/BORROWER: |MORTGAGEE/LENDER: BENIAH ANOKAM ESTATE OF LEROY BRODWITH 561 NEW JERSEY AVENUE , C/O JONATHAN BACHRACH, ESQ., 44 WALL BROOKLYN, NY 11207 STREET, 14TH FL. i NEW YORK, NY 10005 FEES AND TAXES Mortgage Filing Fee: Mortgage Amount: 160,000.00 $ 0.00 I5 Taxable Mortgage Amount: $ 160,000.00 NYC Real Property Transfer Tax: Exemption: $ 0.00 ~NYS Real Estate Transfer Tax: TAXES: County (Basic): $ 800.00 City (Additional): $ 1,600.00 $ 0.00 Spec (Additional): 1$ 0.00 RECORDED OR FILED IN THE OFFICE TASF: $ 400.00 ~~ F THE CITY REGISTER OF THE ' MTA: $ 450.00 E. I CITY OF NEW YORK NYCTA: $ 0.00 Z Recorded/Filed 05-21-200915:31 Additional MRT: ,$_ $ __ _ 0.00 «Q< „"I/ CityRegisterFileNo.(CRFN): TOTAL: $ 3,250.00 .. 2009000152835 " Recording Fee: S 142.00 Taft. Affidavit Fee: $__ 0.00 Cit Re ister0 teialSi nature FILED: FILED : KINGS KINGS COUNTY COUNTY CLERK CLERK 07/12/2018 04/24/2018 05:02 08:0 6 PM INDEX INDEX NO. NO. 508445/2015 5 0 8445 / 2 015 PM| NYSCEF NYSCEF DOC. DOC. NO. NO. 84 64 RECEIVED RECEIVED NYSCEF: NYSCEF: 07/12/2018 04/24/2018 I Q I PURCHASE MONEY MORTGAGE QgH' W-a-y IJ MORTGAGE, dated November ,2005, made by Beniah Anokam, having (" Mortgagor" an address 561 New Jersey Avenue, Brooklyn, NY ("Mortgagor"), tothe Estate of Leroy 14* Brodwith, having an address atc/o Jonathan Bachrach, Esq. 44 Wall Street, 14 Floor, New Mortgagee" York, NY 10005 ("Mortgagee"). Recital Mortgagor isjustly indebted to Mortgagee in the sum of One Hundred Sixty Thousand ($160,000.00) Dollars, which is evidenced by a Purchase Money Note of "Note" Mortgagor of even date herewith in said principal amount (the "Note"). Mortgagor, in order to secure the payment of the Note, has duly executed and delivered thisMortgage. This Mortgage is a purchase money Mortgage given by Mortgagor to secure a portion of the purchase price required to be paid by Mortgagor to Mortgagee in connection with the purchase of the Property hereinafter described. Definitions Mortgagor and Mortgagee agree that, unless the context hereof otherwise specifies or requires, the following terms shall have the meanings herein specified. Said definitions shallbe applicable equally to the singular and the plural forms of such terms. "Chattels" shallmean allfixtures, fittings,appliances, apparatus, equipment, machinery and articles of personal property and replacements thereof, other than those owned by lessees, now or atany time hereafter affixed to,attached to,placed upon, or used in any way in connection with the complete and comfortable use, enjoyment, occupancy or operation of the Improvements on the Premises. Default" "Eventof shall mean any event or circumstance described as an Event of Default in Section 2.01 hereof. "Improvements" shall mean allstructures or buildings now or hereafter located upon the Premises or any part thereof, including all equipment, apparatus, machinery and fixtures of every kind and nature whatsoever forming part of said structures or buildings. Rate" "Involuntary shall mean the lesser of eighteen percent per annum or the maximum rate permitted by law, "Property" shall mean the Premises, the Improvements, the Chattels and all other property, rights and interests described in the Granting Clause of this Mortgage. ~~I' dAIDPREASESIMPROVEDa onsonmoPanyonause 6Loc 3 ONLY ri if FILED: FILED : KINGS KINGS COUNTY COUNTY CLERK CLERK 07/12/2018 04/24/2018 05:02 08:0 6 PM INDEX INDEX NO. NO. 508445/2015 5 0 8445 / 2 0 15 PM| NYSCEF NYSCEF DOC. DOC. NO. NO. 84 64 RECEIVED RECEIVED NYSCEF: NYSCEF: 07/12/2018 04/24/2018 I I I S "Premises" shall mean: ALL that certainplot, piece or parcel of land, with the buildings and improvements thereon erected, situate,lying and being in The City of New Y ork, the County of Kings and the State of New York, being more particularly described in Schedule A attached hereto and made a part hereof, TOGETHER with all right, title and interest, if any, of Mortgagor in and to any streets and roads abutting the above described premises to the center lines thereof, TOGETHER with the appurtenances and all the estate and rights of Mortgagor in and to saidpremises. Said premises is identified as Section 12, Block 3807, Lot 10, Kings County. Which premises are also known as 561 New Jersey Avenue, Brooklyn, NY All terms in thisMortgage which are not defined above shall have the meanings set forthin this Mortgage. Granting Clause NOW, THEREFORE, in consideration of the premises and for value received, and in order to secure the payment of the principal, interest and any other sums payable under the Note and this Mortgage, and the observance and performance of the provisions hereof and of the Note, Mortgagor hereby mortgages to the Mortgagee allthe estate, right, titleand interest of Mortgagor in,to and under any and allof the following "Property" described property (the "Property"), whether now owned or hereafter acquired: (a) the Premises; (b) the Improvements; (c) the Chattels; (d) allleases of the Premises, now or hereafter entered into, and all right,title -2- t " lr" 'I FILED: FILED : KINGS KINGS COUNTY COUNTY CLERK CLERK 07/12/2018 04/24/2018 05:02 08:0 6 PM INDEX INDEX NO. NO. 508445/2015 5 0 8445 / 2 0 15 PM| NYSCEF NYSCEF DOC. DOC. NO. NO. 84 64 RECEIVED RECEIVED NYSCEF: NYSCEF: 07/12/2018 04/24/2018 il I I I U and interestof Mortgagor thereunder, including without limitation, allcash or securities deposited thereunder to secure the payment or performance by the lessees of their obligations thereunder, whether such cash or securities are to be held until the expiration of the terms of such leases or applied to one or more ofthe installments ofrent coming due immediately priorto theexpiration of such terms, and including the right, upon the happening of an Event of Default, to receive and collect the rents thereunder; and (e) all proceeds of the conversion, voluntary or involuntary, of any of the foregoing intocash orliquidated claims, including withoutlimitation insurance proceeds and condemnation awards. ARTICLE I Covenants of Mortgagor Mortgagor covenants and agrees as follows: 1.01. Mortgagor shall pay the principal,interest and allother sums to become due under the Note, atthe time and place and in the manner specified in the Note, in the coin or currency of the United States of America which atthe time of such payment shall be legal tender for the payment of public and private debts. 1.02. Mortgagor represents and warrants thatithas good and marketable title to the Premises; thatthe Premises are subject to no lien, claim or encumbrance except as set forth herein; that Mortgagor now and hereafter will own the Chattels free and clear of all liens, claims and encumbrances; and that this Mortgage is and will remain a valid and enforceable firstlien on the Property; and that Mortgagor has fullpower and lawful authority to mortgage the Property as herein provided. Mortgagor forever shall preserve, warrant and defend such titleto Mortgagee, and forever shall preserve, warrant and defend the validity and priorityof the lien hereof against the claims of allpersons and parties whomsoever. 1.03. Mortgagor, at Mortgagor's sole cost and expense, shall do, execute, acknowledge and deliver alland every such further acts, deeds, mortgages, assignments, transfers and assurances as Mortgagee from time to time shallrequire, for thebetter assuring, mortgaging, assigning, transferring and confirming unto Mortgagee the property and rights hereby mortgaged, assigned, transferred or intended now or hereafter to be mortgaged, assigned or transferred, or forcarrying out the intention or facilitatingthe performance of the terms of this Mortgage, or for filing,registering or recording thisMortgage. All right, title and interest of Mortgagor in and to all extensions, improvements, betterments, renewals, -3- 'D'' ll" FILED: FILED : KINGS KINGS COUNTY COUNTY CLERK CLERK 07/12/2018 04/24/2018 05:02 08:0 6 PM INDEX INDEX NO. NO. 508445/2015 5 0 8445 / 2 0 15 PM| NYSCEF NYSCEF DOC. DOC. NO. NO. 84 64 RECEIVED RECEIVED NYSCEF: NYSCEF: 07/12/2018 04/24/2018 I substitutions and replacements of, and alladditions and appurtenances to,the Premises, now owned by, hereafter acquired by, or released to Mortgagor, or constructed, assembled or placed by Mortgagor on the Premises, and allconversions of the security of this Mortgage, immediately upon such acquisition, release, construction, assembling, placement or without further assignment or other act Mort- conversion, any mortgage, conveyance, by gagor, shall become subject to the lien of thisMortgage as fullyand completely, and with the same effect, as though now owned by Mortgagor and specifically described in the granting clause hereof. Mortgagor, on demand, shall execute and deliver to Mortgagee any and all such further assurances, mortgages, conveyances or assignments thereof as Mortgagee may require for the purpose of expressly and specifically subjecting the same to the lien of this Mortgage. Mortgagor, upon the execution and delivery of this Mortgage, and thereafteron demand, at Mortgagor's sole cost and expense shall cause this Mortgage and any security instrument creating or evidencing a lienupon the Chattels or any other property to be secured hereby, and any other instrument of further assurance or instrument supplemental hereto or given in connection herewith, to be filed,registered or recorded in such manner and insuch place or places as may be required by any present or future law in order to publish notice of and fully to protect the lien hereof upon, and the interestof Mortgagee in,the Property. 1.04. Mortgagor shallkeep the Property free from statutory liens ofevery kind workmen' or nature, including, without limitation, mechanic's liens,material men's liens,workmen's liens,liens for supplying fixtures, appliances, materials or doing any work or improvements on or about the Premises, and shall pay and discharge when due alltaxes of every kind or nature, general and special assessments, levies,permits, inspection and license fees, water and sewer rents and charges, and other governmental or public charges, fines and impositions, whether of a like or different nature, which are or may be levied or imposed upon, or assessed against, the Property or any partthereof, or upon the revenues, income, rents, issues and profits of the Property or arising in respect of the occupancy, use or possession thereof. Mortgagor, upon the request of Mortgagee, shall deliver to Mortgagee receipts evidencing the payment of allsuch taxes, assessments, levies, fees, rents, charges, fines and impositions. For purposes of this Mortgage, assessments which have been made payable in installments at theapplication of Mortgagornevertheless shallbe deemed due and payable in their entirety on the earlierof the day the firstinstallment becomes due orpayable or a lien. 1.05. Mortgagee, at the option of Mortgagee, to be exercised by ten days written notice, may require Mortgagor to pay monthly, an additional amount sufficient to pay and discharge thirty days prior to the date when due, all taxes, assessments and other obligations under Section 1.04 above. Mortgagee agrees not to exercise such option unless and until Mortgagee shall have failed to timely pay and discharge taxes on a prior occasion for more than thirty (30) days or in the event Mortgagor isin default in the payment of any lt r FILED: FILED : KINGS KINGS COUNTY COUNTY CLERK CLERK 07/12/2018 04/24/2018 05:02 08:0 6 PM INDEX INDEX NO. NO. 508445/2015 5 0 8445 / 2 0 15 PM| NYSCEF NYSCEF DOC. DOC. NO. NO. 84 64 RECEIVED RECEIVED NYSCEF: NYSCEF: 07/12/2018 04/24/2018 I i,l I I U Mortgage payment secured by the Premises. The determination of the amounts to be deposited with Mortgagee, so that the aggregate of such deposits shall be sufficient to pay such obligations, shall be made by Mortgagee in itssole discretion. Such amounts shall be held by Mortgagee, without interest,and shallbe applied to thepayment of such obligations in respect to which such amounts were deposited or, at the option of Mortgagee, to the of said obligations in such order or priorityas Mortgagee shall determine, when and as payable, provided Mortgagor is not in default hereunder. Mortgagor shall furnish to Mortgagee bills for allof the obligations for which deposits are to be made hereunder and such other documents and information as may be needed for thepayment of such obligations, at leastthirtydays prior to the date on which such obligations firstbecome payable. Ifthirty days prior to the due date of any of the aforesaid obligations the amounts then on deposit therefor shall be insufficient to pay and discharge such obligations in full, Mortgagor on demand shall deposit the amount of the deficiency with Mortgagee. In the event of any defaultby Mortgagor under any provision of thisMortgage, Mortgagee at Mortgagee's option may apply any amounts deposited pursuant to this Section 1.05 to the payment of principal, interestor other obligations secured hereby, in lieuof applying such amounts for thepayment of the obligations for which such amounts were deposited. Nothing herein contained shall be deemed to affect any other rights or remedies of Mortgagee under any otherprovisions of thisMortgage, or under any statute or rule of law, including without limitation the right to pay any such amount and to add the amount so paid, together with interest at the Involuntary Rate, to the indebtedness hereby secured. 1.06. Mortgagor shallpay all filing,registration or recording fees, allFederal, State, county and municipal taxes, duties, imposts, assessments and charges, and all expenses incident to the execution, acknowledgment, delivery and recording of this Mortgage, the Note, any security instrument with respect to the Chattels, any instrument of further assurance and any other instrument supplemental hereto or tobe given in connection herewith. If Mortgagor failsto make any such payment within five days after demand, Mortgagee in addition to its other rights and remedies, may pay the amount due, and Mortgagor, on demand, shall reimburse Mortgagee for said amount, together with interest thereon atthe Involuntary Rate from the date of such advance to the date of reimbursement. The amount so advanced by Mortgagee and such interest shall be a part of the indebtedness secured by this Mortgage. In the event of the passage of any law deducting from the value of the Premises, for purposes of taxation, the amount of any lien thereon or changing in any way the laws for the taxation of Mortgages or debts secured by Mortgages or the manner of the collection of any such taxes, so as to effectthis Mortgage; then the indebtedness secured hereby, at the option of Mortgagee and upon thirty days notice to Mortgagor, immediately shall become due and payable, provided, however, that said option shall be unavailing and the Note and this Mortgage shall remain in effect if,without violating such law or any applicable usury or other law, Mortgagor lawfully pays when due such taxes, including any -5- "t g', FILED: FILED : KINGS KINGS COUNTY COUNTY CLERK CLERK 07/12/2018 04/24/2018 05:02 08:0 6 PM INDEX INDEX NO. NO. 508445/2015 5 0 8445 / 2 0 15 PM| NYSCEF NYSCEF DOC. DOC. NO. NO. 84 64 RECEIVED RECEIVED NYSCEF: NYSCEF: 07/12/2018 04/24/2018 I i.l I I I4 " interest or penalties thereon, to or for Mortgagee. 1.07. Mortgagor shall pay, from time to time when due, alllawful claims and demands of mechanics, materialmen, laborers and others which, ifunpaid, might resultin, or permit the creation of, a lien on the Property or any part thereof, or on the revenues, income, rents, issues and profits arising therefrom. Mortgagor shall do or cause to be done everything necessary so that thelien hereof shallbe fully preserved, at thecost of Mortgagor, without expense to Mortgagee. 1.08. Mortgagor shall not be required to pay the obligations imposed upon Mortgagor by Sections 1.04, 1.06 or 1.07 hereof so long as Mortgagor, in good faith and at itsown expense, shall contest the validity or amount of such obligation by appropriate legal proceedings, provided such proceedings shall prevent the collection thereof or other realization thereon and shall not result in the sale or forfeiture of the Property or any part thereof to satisfythe same. During any such contest Mortgagor, atthe option of Mortgagee, shall provide security satisfactory to Mortgagee assuring the discharge of Mortgagor's obligations hereunder and of any additional charge, penalty or expense arising from or incurred as a result of such contest. If atany time the payment of any obligation imposed upon Mortgagor under Section 1.04 shallbecome necessary to prevent the delivery of a tax deed conveying the Premises or any portion thereof because of nonpayment, then Mortgagor shallpay such obligation in sufficient time to prevent the delivery of such tax deed. 1.09. Mortgagor shallkeep the Improvements and Chattels insured for their respective replacement values, for the benefit of Mortgagee, against loss by fire, casualty and such other hazards as may be specified by Mortgagee in an amount no lessthan the total amount of other liens and encumbrances on the Property, plus $160,000.00. Mortgagor shall also maintain rent insurance in an amount equal to 100% of the rents collectible from the Property for a period of not less than one year.All insurance to be maintained by Mortgagor hereunder shall be written in forms, amounts and by companies reasonably satisfactory to Mortgagee, naming Mortgagee as insured. Mortgagor shall pay when due allpremiums for such insurance. Proof of such insurance shallbe delivered at closing. The policy or policies of such insurance, and renewals thereof, shallbe delivered to Mortgagee within thirty(30) days of the date hereof and shall have attached thereto a standard non-contributing mortgagee endorsement in favor of and entitling Mortgagee to collect any and allproceeds payable under allsuch insurance, as well as a standard waiver of subrogation endorsement, and shall contain provisions for ten days notice to Mortgagee prior to any cancellation thereof, allin form and substance satisfactory to Mortgagee. Mortgagor shallreimburse Mortgagee on demand for any premiums for insurance paid by Mortgagee, together with interestat the Involuntary Rate, on Mortgagor's default in maintaining any insurance required hereunder or indelivering the insurance policies to Mortgagee as provided herein. Mortgagor shall give -6- ' ' I' t' '!t FILED: FILED : KINGS KINGS COUNTY COUNTY CLERK CLERK 07/12/2018 04/24/2018 05:02 08:0 6 PM INDEX INDEX NO. NO. 508445/2015 5 0 8445 / 2 0 15 PM| NYSCEF NYSCEF DOC. DOC. NO. NO. 84 64 RECEIVED RECEIVED NYSCEF: NYSCEF: 07/12/2018 04/24/2018 i,l Mortgagee prompt notice of any loss covered by such insurance. Mortgagee is hereby authorized to collect, adjust and compromise all losses covered by such insurance. Mortgagor shall have the right to join Mortgagee in adjusting any loss not in excess of $50,000. Any moneys received as payment for any loss under any such insurance shall be paid over to Mortgagee to be applied, at the option of Mortgagee, either to the prepayment of the Note, without premium, or to the reimbursement of Mortgagor for expenses incurred by itin the restoration of the Improvements, except that where the loss isten (10%) percent or less of the value of the Property, in which event the Mortgagor shall have the option to apply the proceeds to repair the loss. Mortgagor shall not take out separate insurance concurrent in form or contributing in the event of loss with that required to be maintained hereunder, unless such insurance names Mortgagee as insured, with any and allproceeds payable to Mortgagee under a standard mortgage endorsement of the character above described. Mortgagor promptly shall deliver to Mortgagee the policy or policies of such insurance. 1.10 Mortgagor shall keep adequate records and books of account in accordance with generally accepted accounting principles and shallpermit Mortgagee, and the agents, accountants and attorneys of Mortgagee, to visitand inspect the Premises and examine the records, books of account and papers of Mortgagor which reflect upon its financial condition, the income and expenses of the Property or the business conducted thereat, and to discuss the affairs, finances and accounts of Mortgagor with the officers, agents, accountants and attorneys of Mortgagor, at such reasonable times as Mortgagee may request. Mortgagor promptly shall make available to Mortgagee uponrequest, copies of such books, records, financial statements, documents and such other information with respect to Mortgagor and the Property as Mortgagee from time to time reasonably may request. 1.1 1. Mortgagor shall not commit, suffer or permit any waste on or to the Property, except fordemolition of interior partitions and fixtures done for a tenant under a new or renewed lease or in connection with a premises that has become vacant. Mortgagor at alltimes shall maintain the Improvements in go