Preview
FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023
EXHIBIT F
FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023
100 INSTR# : 2 010-37 915 0 6 / 07 / 2 010 MORTGAGE Ima ge : 2 of 13
0UNTY TITl.E/ESCROW
, (845) 794-3050
ITLE # ACA- ÏD / 0 b
MORTGAGE
THIS MORTGAGE made this ist day of April, 2010, between Robinhood Properties L.L.C., a New
York limited liability company with an office at 133 Main Street, Mountaindale, NY 12763 ("Mortgagor")
and Habib American Bank, located at 99 Madison Avenue, New York, NY 10016 ("Mortgagee");
WITNESSETH that to secure payment of a principal indebtedness in the sum of SIX HUNDRED
EIGHTY THOUSAND D OLLARS ($680,000) (the "Loan") lawful money of the United States, due in
accordance with a certain written promissory note (hereinafter "Note") dated today in the same amount as
the Loan, and also to secure payment of all interest, late charges, and other sums, charges, premiums,
indemnification amounts, or other amounts, direct or indirect, absolute or contingent, joint or several,
liquidated or not liquidated, due or to become due, including future advances, to Mortgagee under the Note
and this mortgage and all extensions, renewals, modifications, substitutions, and replacements of either of
them, and to secure performance by Mortgagor of all of its other obligations and covenants under the Note
and this mortgage, Mortgagor has mortgaged, given, granted, released, assigned,transferred, given asecurity
interest in, and set over unto Mortgagee, and by these presents does hereby mortgage, give, grant, release,
assign, transfer, give a security interest in, and set over unto Mortgagee, its successors and assigns forever,
the following described property and rights:
"A"
ALL that certain plot, piece or parcel of land, more particularly described on Schedule attached
hereto and made a part hereof and the buildings and improvements now or hereinafter located thereon (the
"Improvements")-said premises being hereinafter referred to as the "Premises";
SAID premises also being commonly known as 60 EAST MAIN STREET, FONDA, NY,
AND AS SECTION 35.12, BLOCK 3, LOT 23, and being and intended to be the same
premises conveyed to Mortgagor, as grantee, by Mortgagor, as Grantor, by a certain deed
dated today and intended to be recorded simultaneously herewith.
THE real property covered by this mortgage is NOT principally improved or to be improved
by one or more structures containing in the aggregate not more than six residential dwelling
units, each having their own separate cooking facilities.
TOGETHER WITH all rights, title and interest of the Mortgagor in and to the following property,
rights and interests (the Premises and the Improvements together with such property, rights and interest being
hereinafter collectively called the "Mortgaged Property"):
(a) all easements, rights-of-way, gores of land, streets, ways, alleys, passages, sewer rights, and all
estates, rights, titles, interests, privileges, liberties, tenements, hereditaments, and appurtenances of any
nature whatsoever, in any way belonging, relating or pertaining to the Mortgaged Property and all land lying
m the bed of any street, road or avenue, opened or proposed, in front of or adjoining the Premises to the
center line thereof;
.
(b) all machinery, apparatus, equipment, furniture, fittings, fixtures and other property ofevery kind
and nature whatsoever owned by the Mortgagor in connection with the Mortgaged Property, or in which the
Mortgagor has or shall have an interest, now or hereafter located upon the Mortgaged Property, and usable
m connection with the present or future operation and occupancy of the Mortgaged and all
Property,
buildings, equipment, materials and supplies of any nature whatsoever owned by and now or hereafter
located upon the Mortgaged Property, as to which, and as to all of the Mortgaged Property, this Mortgage
constitutes a security agreement under the Uniform Commercial Code (in addition to and not in lieu of any
other
security agreement between the parties);
(c) all awards or payments, including interest thereon, and the right to receive the same, which may
be made with
respect to the Mortgaged Property, whether from the exercise of the right of eminent domain
(includmg any transfer made in lieu of the exercise of said right), or for any other injury to or decrease in the
value of the
Mortgaged Property;
(d) all leases and other agreements affecting the use or occupancy of the Mortgaged Property now
or h
ereafter entered into, and the right to receive and
Pm apply the rents, issues and profits of the Mortgaged
Perty to the payment of the aforementioned indebtedness;
(e) all proceeds of on any msurance the Mortgaged
p any unearned premmms pohcies covermg
mperty, moludmg, without the right to receive and apply the proceeds of any insurance,
limitation,
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NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023
100 INSTR# : 2010-37 915 0 6 / 0 7 /2 010 MORTGAGE Image : 3 o f 13
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judgments, or settlements made in lieu thereof, for damage to the Mortgaged Property;
(f) the right, in the name and on behalf of the Mortgagor to appear in and defend any action or
proceeding brought with respect to the Mongaged Property and to commence any action or proceedings to
protect the interest of the Mortgagee in the Mortgaged Property.
TO HAVE AND TO HOLD the above granted and described Mortgaged Property unto and to the
proper use and benefit of the Mortgagee, and the successors and assigns of the Mortgagee, forever.
AND the Mortgagor, for further securing the payment of said Note, together with interest thereon
and other charges, amounts, expenses due under such Note or this mortgage, hereby mortgages to the
Mortgagee, and grants Mortgagee a security interest in, the Mortgaged Property.
And the Mortgagor covenants with the Mortgagee as follows:
1. CROSS DEFAULT; APPLICATION0F FUNDS. A default by Mortgagor either under this Mortgage,
or under any other mortgage (whether or not Mortgagee is mortgagee thereunder) on the real property
subject to this mortgage, or under any other loan obligation and/or agreement between Mortgagor and
Mortgagee constitutes a default by Mortgagor under this Mortgage and/or under the Note, and all any other
documents executed in connection with this loan by or on behalf of Mortgagor to Mortgagee and/or by any
guarantor and/or any person/entity affiliated or related in any way to Mortgagor or any guarantor
(collectively the "Loan Documents") . A default by Montgagor under any of the Loan Documents
constitutes a default by Mortgagor under this mortgage, the obligation thereby secured, and every other loan
obligation and/or agreement between Mortgagor and Mortgagee. Notwithstanding any contrary provision
elsewhere in this instrument, at any time that Mortgagee is holding any other mortgage(s) securing either (a)
the same, or a different portion of, the indebtedness secured by this Mortgage, or (b) any other indebtedness
or obligation/loan of Mortgagor, Mortgagee shall have the sole discretion to determine how to apply wholly
or partially any payments made by, or on behalf of, Mortgagor to and among each indebtedness, obligation,
or loan, and/or portion of any of same, and/or mortgage pursuant to which any amounts (whether monthly
payments, overdue principal, late charges, taxes, insurance premiums, and/or any other amounts or items)
are due.
2. Mortgagor's sole member has authorized execution of this mortgage.
3. LATE CHARGES. In the event that any payment shall become overdue for a period in excess of fifteen
charge"
days after the due date, a "late of FIVE per cent of each dollar ($1.00) so overdue will be charged
by the Mortgagee for the purpose of defraying the expense incidental to handling such delinquent payment,
and such late charges are also secured by this Mortgage.
4. PAYMENT. The Mortgagor promises to pay the principal and interest, and/or any other amount, due
under the Note and/or other obligation secured by this Mortgage, when due and payable, plus all other
indebtedness secured by this Mortgage.
5. WARRANTY OF TITLE. The Mortgagor warrants the title to the Mortgaged Property, and warrants
and represents that the full amount owed as described above is secured by this Mortgage and that this
Mortgage is a valid first mortgage lien on, and security interest in, the Premises and Mortgaged Property.
6. INSURANCE. The Mortgagor will keep the buildings and improvements on the Mortgaged Property, as
coverage"
hereinbefore provided, insured against loss by fire and the perils covered by the usual "extended
endorsement, (and if this Mortgage includes personal property, said insurance shall include a "Lender's Loss
Payable"
clause) in an amount to be approved by the Mortgagee, not exceeding in the aggregate one hundred
percent (100%) of their full insurable value, and in companies to be approved by the Mortgagee, and will
on demand exhibit to the Mortgagee receipts evidencing payment of the premiums for such insurance and
the Mortgagor will assign and deliver the policy or policies of such insurance to the Mortgagee, which policy
or polictes shall have endorsed thereon the standard New York Mortgagee Clause in the name of the
Montgagee in such manner and form as approved bythe Mortgagee, thatthe Mortgagee shall hold such policy
or policies as collateral and further security for the payment of the indebtedness and interest secured by this
Mortgage; and, in default of so doing, the Mottgagee may procure such insurance, and pay the premiums
therefor, and in such event the Mortgagor will on demand pay to the Mortgagee such premiums so paid, with
mterest from the date of payment, and the same shall be deemed to be secured by this Mortgage and shall
be collectible thereupon in like manner as the principal monies; and, should the Mortgagee by reason of such
msurance receive any sum or sums of money for damage by the perils insured agamst, such sums may be
2
FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023
100 INSTR#: 2010-37915 06/07/2010 MORTGAGE Image: 4 of 13
All County Title/Escrow Town: Mohawk
Title # 10-ACA-10108 SBL: 35.12-3-23
Schedule A Description
ALL THAT TRACT OR PARCEL OF LAND, situate in the Village of
Ponda, Montgomery County, New York, bounded and described as follows:
BEGINNING at an iron pipe set in the southerly margin a f New York State
Route 5 (East Main Street) which point lies south·88 degrees 00 minutes 00
seconds east 38.73 feet as measured along said margin from the intersection
of the extension of the easterly margin of Cemetery Street with the southerly
margin of said Route 5; . .
THENCE south 88 degrees 00 minutes 00 seconds east 285.00 feet along the
southerly margin of said Route 5 to an iron pipe marking the most
northwesterly corner of lands of Compani;
THENCE south 2 degrees 28 minutes 05 seconds west 21 I.43 feet the
along
westerly line of lands of Compani to an iron pipe set in the line of
northerly
lands of Montrose Railroad Company;
THENCE north 86 degrees 25 minutes 24 seconds 285.04 feet along the
northerly side of said Railroad to an iron pipe;
THENCE north 2 degrees 28 minutes 05 seconds east 203.59 feet the
along
easterly line of lands of Geloso to the point or place of beginning.
Containing 59,l38 feet or 1.36 acres of land, more pr less.
Nore particularly described in a recent
* survey by Daniel J.
O'Brien, PLS dated March 4, 2010 as follows:-
.
a
FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023
100 INSTR#: 2010-37915 06/07/2010 MORTGAGE Image: 5 of 13
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All County Title/Escrow Town: Mohawk
Title # 10-ACA-10108 SBL: 35.12-3-23
Schedule A Description
All that certain lot, piece or parcel of land situate, iying and being in the Village of
Fonda, County of Montgomery, State of New York and being more accurately bounded and
described as follows:
Beginning at a point in the southerly line ofNew York State Route # 5 (a.k.a East Main
Street) being at the northeasterly corner of lands of Geloso as described in deed liber 404 page
802 and also being the northwesterly most camer of the here-in described parcel; thence from the
said point or place of beginning and following along the southerly line of New York State Route
#5, South 88 degrees 00 minutes 00 seconds Bast 285.00 feet to a point; thence along the line of
lands of Hanson as described in d1.708 pg.15, South 02 degrees 28 minutes 05 seconds West
211.43 feet to a point being the rusted remains of an old pipe found; thence along the lands of
New York Central Line, Inc., North 86 degrees 25 minutes 24 seconds West 285.04 feet to a
point; thence along the line of Geloso before mentioned, North 02 degrees 28 minutes 05 seconds
East 203.59 feet to the point or place of beginning and containing 1.35 acres of land, more or less.
B
FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023
INSTR# : 2010-37 915 O 6 /07 / 2010 MORTGAGE Image : 6 of 13
00
retained and applied by the Mortgagee to payment ofthe indebtedness and interest secured by this Mortgage,
or the same may be paid over either wholly or in part to the Mortgagor for the repair of said buildings or for
the erection of new buildings in their place, or for any other purpose or object satisfactory to the Mortgagee,
and, if the Mortgagee receives and retains insurance money for such damage, the lien of this Mortgage shall
be affected only by the reduction of the amount of said lien by the amount of insurance money received and
retained by said Mortgagee. If the Mortgaged Property is determined to be in a flood hazard area under the
Flood Disaster Act of 1973, the Mortgagor must provide the Mortgagee with insurance against loss or
damage to the Mortgaged Property by flood to be written by a Company, on such terms, in such form and
for such periods and amounts, as may be satisfactory to Mortgagee.
7. TAXES. The Mortgagor will pay all taxes, including corporate franchise taxes, if applicable, assessments
and/or water rates and/or sewer rates and/or any and all taxes, charges, assessments which are applicable to
the use and/or occupancy and/or existence of the Mortgaged Property; and in the event that the Mortgagor
fails to pay same, Mortgagee may (but is not obligated to) pay same and the Mortgagor will, on demand, pay
to the Mortgagee any amounts so paid by the Mortgagee with interest from the day of payment, and the same
shall be deemed to be secured by the Mortgage and shall be collectible thereupon in like manner as the
principal monies.
8. ESCROWS FOR TAXES, INSURANCE. Notwithstanding any contrary provision of this mortgage,
upon written request from mortgagee, at any time and/or from time to time at Mortgagee's sole discretion
during the life of this mortgage, mortgagor shall pay to mortgagee on or before the first day of each month
or such other day of the month selected by mortgagee, a sum equal to one-twelfth of the estimated annual
amount of all taxes, assessments, water, and/or sewer and/or comparable charges, and of all premiums for
insurance required hereunder. Mortgagee in its sole discretion shall determine the necessary and/or
fractional amounts to be deposited so that, as of one month prior to the due dates of each such obligation,
mortgagee shall hold sufficient funds to timely and fully pay the obligation or installment of same.
Mortgagee shall hold amounts payable hereunder without interest. Mortgagee shall apply such amounts to
payment of the obligations to which the amounts relate, and, at mortgagee's option, in such order or priority
as mortgagee shall determine, on or before the dates on which the same or any of them would delinquent.
If at any time before the due date of any of such obligations, mortgagee determines that the amounts on
deposit do not suffice to timely and fully pay any such obligation, then mortgagor shall deposit the amount
of the deficiency with mortgagee within ten (10) days after demand. This paragraph shall not be deemed to
affect any right or remedy of mortgagee under this mortgage or under any statute or rule of law to pay such
amount and to add the amount so paid to the outstanding debt hereby secured. If there is a default under this
mortgage, mortgage may, at its option and without notice to mortgagor, apply any funds held under this
paragraph in payment of any amounts due under this mortgage. Any amount(s) determined by Mortgagee
to be due hereunder (whether single or recurring or otherwise) shall be payable upon not less than five (5)
business days notice from Mortgagee; one or more payments may be specified in any such notice.
9. NO ALTERATIONS. No building or improvement presently on or hereinafter constructed on the
Premises shall be removed, demolished or altered in such a manner as to adversely affect its structural
strength or its value, without the consent of the Mortgagee.
10. ESTOPPEL CERTIFICATE. The Mortgagor, within five (5) business days upon request in person or
wntten notice will furnish a written statement duly acknowledged of the amount due on this Mortgage and
whether any offsets or defenses exist against the mortgage debt.
1l. SECTION 13 OF THE LIEN LAW. The Mortgagor will receive the proceeds of indebtedness secured
by this Mortgage, subject to the trust fund provisions of Section 13 of the Lien Law.
12, NO
RELEASE OR DISCHARGE UNTIL FULL PAYMENT; RIGHT TO RELEASE ANY
PORTION OF THE PROPERTY.. Until the full payment of all indebtedness evidenced by the Note with
mterest at the rate therein agreement with any other person, firm
specified, (A) regardless of any subsequent
Corporation modifying, the terms of the Note or any agreement
to m said amending, altering or changing referred
Note or this Mortgage, or spreading the lien thereof, or consolidating the same with any other
gage, the obligations of the Mortgagor to pay the indebtedness and interest at the rate specified in the
No
secured by this Mortgage shall not be released or discharged or affected in any way, and/or (B)
y¡ rt.gagor
shall not, at the sole discretion of the Mortgagee, be entitled to a release or satisfaction of the lien
o
may¹Sfortgage with respect to any of the Mortgaged Property. the foregoing, Mortgagee
Notwithstanding
as to th'SS'Sny portion ofthe Mortgaged Property for such consideration as Mortgagee may require without,
nder of the Mortgaged Property, in any way impairing or affecting the lien or priority of this
instrum , or
improving the position of any subordinate hen holder with respectthereto, except to the e,
FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023
100 INSTR# : 2010-37 915 0 6 /07 /2010 MORTGAGE Image : 7 of 13
that the obligations hereby secured shall have been reduced by the actual monetary consideration, if any,
received by Mortgagee for such release, and may accept by assignment, pledge, or otherwise any other
property in place thereof as Mortgagee may require without being accountable for so doing to any other lien
holder; and this instrument shall continue as a lien and security interest in the remaining portion of the
Mortgaged Property.
13. BOOKS, RECORDS AND FINANCIAL STATEMENTS. The Mortgagor will at all times keep
proper books and records and accounts in accordance with generally accepted accounting principles
consistently applied and shall within five (5) business days of demand:
13.1. permit the Mortgagee or its representatives to examine such books and records and all
supporting vouchers and data at any time from time to time on request, at its offices, or at such other location
as may be mutually agreed upon.
13.2. provide a balance sheet truly presenting the financial condition of the Mortgagor as of the
close of each fiscal year and statements of cash flow truly presenting the results of operations of the
Mortgagor for such fiscal year, and a statement of changes in financial position, all prepared in accordance
"reviewed"
with generally accepted accounting principles consistently applied and by independent certified
public accountants acceptable to the Mortgagee, together with, if requested, referred to in the preceding
subparagraph, a certificate of the independent certified public accountants who reviewed said annual report
stating that in making the examination necessary to said review of the annual report they have obtained no
knowledge of any default by the Mortgagor in the performance of any of the covenants, conditions,
agreements or warranties under this Mortgage and the Note, or, ifthey shall have obtained knowledge of any
such default, the nature thereof.
13.3. within five business days after the close of each fiscal quarter, provide to Mortgagee a
compiled statement of financial position truly presenting the financial condition of the Mortgagor as of the
close of such fiscal quarter and compiled statements of operations and retained earnings and changes in
fmancial position truly presenting activities of the Mortgagor for such fiscal quarter, all prepared in
accordance with generally accepted accounting principles consistently applied and verified by the President
and Treasurer of the Mortgagor.
13,4. provide a certificate of the President, a Vice President, or the Treasurer of the Mortgagor with
knowledge of the facts in question stating that a review of the activities of the Mortgagor to date during the
fiscal year in question has been made under [his/her] supervision with a view to determining whether the
Mortgagor has fulfilled all of its obligations under this Mortgage and the Note, and that the Mortgagar has
fulfilled all such obligations, or, if not, specifying all defaults of which [he/she] has knowledge.
14. INDEMNIFICATION. Mortgagor hereby covenants and agrees, at its sole cost and expense, to
indemnify, protect, defend and save harmless Mortgagee from and against any and all damages, losses,
liabilities, obligations, penalties, claims, litigation, demands, defenses, judgments, suits, actions, proceedings,
consultants'
costs, disbursements and/orexpenses (including, without limitation, attorneys', and experts'fees,
expenses and disbursements) of any kind or nature whatsoever by whomever asserted which may at any time
be imposed upon, incurred by or asserted or awarded against Mortgagee relating to, resulting from or arising
out of the past, present or future (a) use of the Mortgaged Property for the storage, treatment, generation,
. transportation, processing, handling, production or disposal of any Hazardous Substance or as a landfill or
other waste disposal site or for military, manufacturing or industrial purposes; (b) presence of any Hazardous
Substances or a Release or the threat of a Release on, at or from the Mortgaged Property; c) appropriate
investigative, containment, removal, clean up and other remedial actions with respect to a Release or the
threat of any Release on, at or from the Mortgaged Property; (d) human exposure to any Hazardous
Substance or nuisances of whatever kind to the extent the same arise from the condition of the Mortgaged
Property or the ownership, use, operation, sale,transfer or conveyance thereof;(e) violation of any applicable
environmental law; or (f) noncompliance with any environmental permit.
, I4.1. The liability of Mortgagor to Mortgagee hereunder shall in no way be limited, abridged,
impaired or otherwise affected by (I) any amendment or modification of the Note; (ii) any increase in the
amount of the Note or the extension of any additional debt to the Mortgagor; (iii) any extensions oftime for
payment or performance required by the Note; (iv) the release of Mortgagor, any guarantor of this loan or
any other person from the performance or observance of any of the agreements, covenants, terms or
conditions contained in the Note or this Mortgage; (v) any exculpatory rovision contained in any of the
Loan Documents
limiting Mortgagee's recourse to property encumbe by the Mortgage or to any other
securityor limiting Mortgagee's rights to adeficiencyjudgmentagainst applicable statute
Mortgagor;(vi)any
4
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100
.
of limitations; (vii) any investigation or inquiry conducted by or on the behalf of Mortgagee or any
information which Mortgagee may have or obtain with respect to the environmental or ecological condition
of the Mortgaged Property; (viii) the sale, assignment or foreclosure of the Note or this Mortgage; (ix) the
sale, transfer, conveyance or lease of all or part of the Mortgaged Property; (x) the dissolution or liquidation
of Mortgagor; (xi) the death or legal incapacity of the Mortgagor; (xii) the release or discharge, in whole or
in part, of the Mo tgagor in any bankruptcy, insolvency, reorganization, arrangement, readjustment,
composition, liquidation or similar proceeding; or (xiii) any other circumstances which might otherwise
constitute a legal or equitable release or discharge, in whole or in part, of Mortgagor under this Mortgage.
Substance"
14.2. For purposes
of this paragraph, "Hazardous means, without limitation, any
flammables, explosive, radon, radioactive materials, asbestos, urea formaldehyde foam insulation,
polychlorinated-biphenyls, petroleum and petroleum-based products or by-products, methane, hazardous
materials, medical waste, hazardous wastes, hazardous or toxic substances or related materials, as defined
in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42
U.S.C, Sections 9601, et seq.), the Hazardous Materials Transportation Act, as amended (49 U.S.C. Sections
I801, et seq.), the Toxic Substances Control Act, as amended (15 U.S.C. Sections 2601, et seq.), Articles 15
and 27 of the New York State Environmental Conservation Law and in the regulations promulgated
Substance"
thereunder. The term "Hazardous does not include consumer products which are stored and used
by a consumer with reasonable care and for their intended use.
"Release"
I4.3. For purpose of this
paragraph, means any spilling, leaking, pumping, pouring,
emitting, emptying, discharging, injecting, escaping, leaching, dumping, or disposing mto the environment,
including the abandonment or discarding of barrels, containers, and other receptacles containing any
Hazardous Substance.
15. MORTGAGE TAX. Mortgagor agrees that in the event that mortgage recording tax is required for any
reason whatsoever, Mortgagor will pay said tax on demand to Mortgagee; and if Mortgagor fails to pay said
tax, the Mortgagee may pay same. The amounts paid by the Mortgagee, plus interest at the rate set forth in
the Note from the date of payment, shall be deemed to be secured by this Mortgage and shall be collected
in like manner as the principal monies.
16. DEFAULT.
I6.1. Provided that this paragraph shall not be deemed to limit or modify any of the terms of the
Note or rights of the Mortgagee thereunder, the Mortgagee shall be entitled, at its option, to declare the
Mortgagor in default and the whole of the indebtedness and interest to be immediately due and payable:
(a) aher failure to pay any installment of principal or of interest, and/or any other amount due under the
obligation secured by this moitgage, for fifteen days (15) days
(b) after failure to pay any tax, water rate or assessment, or to exhibit to the Mortgagee receipts evidencing
payment thereof, within ten (10) business days after notice and demand;
(c) after failure to pay any premiums on the policies insuring the buildings and improvements on the
Mortgaged Property, or to exhibit to the Mortgagee receipts evidencing payment thereof, or to assign and
deliver such policies to the Mortgagee, or to reimburse the Mortgagee for
Preview
FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477 NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023 EXHIBIT F FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477 NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023 100 INSTR# : 2 010-37 915 0 6 / 07 / 2 010 MORTGAGE Ima ge : 2 of 13 0UNTY TITl.E/ESCROW , (845) 794-3050 ITLE # ACA- ÏD / 0 b MORTGAGE THIS MORTGAGE made this ist day of April, 2010, between Robinhood Properties L.L.C., a New York limited liability company with an office at 133 Main Street, Mountaindale, NY 12763 ("Mortgagor") and Habib American Bank, located at 99 Madison Avenue, New York, NY 10016 ("Mortgagee"); WITNESSETH that to secure payment of a principal indebtedness in the sum of SIX HUNDRED EIGHTY THOUSAND D OLLARS ($680,000) (the "Loan") lawful money of the United States, due in accordance with a certain written promissory note (hereinafter "Note") dated today in the same amount as the Loan, and also to secure payment of all interest, late charges, and other sums, charges, premiums, indemnification amounts, or other amounts, direct or indirect, absolute or contingent, joint or several, liquidated or not liquidated, due or to become due, including future advances, to Mortgagee under the Note and this mortgage and all extensions, renewals, modifications, substitutions, and replacements of either of them, and to secure performance by Mortgagor of all of its other obligations and covenants under the Note and this mortgage, Mortgagor has mortgaged, given, granted, released, assigned,transferred, given asecurity interest in, and set over unto Mortgagee, and by these presents does hereby mortgage, give, grant, release, assign, transfer, give a security interest in, and set over unto Mortgagee, its successors and assigns forever, the following described property and rights: "A" ALL that certain plot, piece or parcel of land, more particularly described on Schedule attached hereto and made a part hereof and the buildings and improvements now or hereinafter located thereon (the "Improvements")-said premises being hereinafter referred to as the "Premises"; SAID premises also being commonly known as 60 EAST MAIN STREET, FONDA, NY, AND AS SECTION 35.12, BLOCK 3, LOT 23, and being and intended to be the same premises conveyed to Mortgagor, as grantee, by Mortgagor, as Grantor, by a certain deed dated today and intended to be recorded simultaneously herewith. THE real property covered by this mortgage is NOT principally improved or to be improved by one or more structures containing in the aggregate not more than six residential dwelling units, each having their own separate cooking facilities. TOGETHER WITH all rights, title and interest of the Mortgagor in and to the following property, rights and interests (the Premises and the Improvements together with such property, rights and interest being hereinafter collectively called the "Mortgaged Property"): (a) all easements, rights-of-way, gores of land, streets, ways, alleys, passages, sewer rights, and all estates, rights, titles, interests, privileges, liberties, tenements, hereditaments, and appurtenances of any nature whatsoever, in any way belonging, relating or pertaining to the Mortgaged Property and all land lying m the bed of any street, road or avenue, opened or proposed, in front of or adjoining the Premises to the center line thereof; . (b) all machinery, apparatus, equipment, furniture, fittings, fixtures and other property ofevery kind and nature whatsoever owned by the Mortgagor in connection with the Mortgaged Property, or in which the Mortgagor has or shall have an interest, now or hereafter located upon the Mortgaged Property, and usable m connection with the present or future operation and occupancy of the Mortgaged and all Property, buildings, equipment, materials and supplies of any nature whatsoever owned by and now or hereafter located upon the Mortgaged Property, as to which, and as to all of the Mortgaged Property, this Mortgage constitutes a security agreement under the Uniform Commercial Code (in addition to and not in lieu of any other security agreement between the parties); (c) all awards or payments, including interest thereon, and the right to receive the same, which may be made with respect to the Mortgaged Property, whether from the exercise of the right of eminent domain (includmg any transfer made in lieu of the exercise of said right), or for any other injury to or decrease in the value of the Mortgaged Property; (d) all leases and other agreements affecting the use or occupancy of the Mortgaged Property now or h ereafter entered into, and the right to receive and Pm apply the rents, issues and profits of the Mortgaged Perty to the payment of the aforementioned indebtedness; (e) all proceeds of on any msurance the Mortgaged p any unearned premmms pohcies covermg mperty, moludmg, without the right to receive and apply the proceeds of any insurance, limitation, FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477 NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023 100 INSTR# : 2010-37 915 0 6 / 0 7 /2 010 MORTGAGE Image : 3 o f 13 . judgments, or settlements made in lieu thereof, for damage to the Mortgaged Property; (f) the right, in the name and on behalf of the Mortgagor to appear in and defend any action or proceeding brought with respect to the Mongaged Property and to commence any action or proceedings to protect the interest of the Mortgagee in the Mortgaged Property. TO HAVE AND TO HOLD the above granted and described Mortgaged Property unto and to the proper use and benefit of the Mortgagee, and the successors and assigns of the Mortgagee, forever. AND the Mortgagor, for further securing the payment of said Note, together with interest thereon and other charges, amounts, expenses due under such Note or this mortgage, hereby mortgages to the Mortgagee, and grants Mortgagee a security interest in, the Mortgaged Property. And the Mortgagor covenants with the Mortgagee as follows: 1. CROSS DEFAULT; APPLICATION0F FUNDS. A default by Mortgagor either under this Mortgage, or under any other mortgage (whether or not Mortgagee is mortgagee thereunder) on the real property subject to this mortgage, or under any other loan obligation and/or agreement between Mortgagor and Mortgagee constitutes a default by Mortgagor under this Mortgage and/or under the Note, and all any other documents executed in connection with this loan by or on behalf of Mortgagor to Mortgagee and/or by any guarantor and/or any person/entity affiliated or related in any way to Mortgagor or any guarantor (collectively the "Loan Documents") . A default by Montgagor under any of the Loan Documents constitutes a default by Mortgagor under this mortgage, the obligation thereby secured, and every other loan obligation and/or agreement between Mortgagor and Mortgagee. Notwithstanding any contrary provision elsewhere in this instrument, at any time that Mortgagee is holding any other mortgage(s) securing either (a) the same, or a different portion of, the indebtedness secured by this Mortgage, or (b) any other indebtedness or obligation/loan of Mortgagor, Mortgagee shall have the sole discretion to determine how to apply wholly or partially any payments made by, or on behalf of, Mortgagor to and among each indebtedness, obligation, or loan, and/or portion of any of same, and/or mortgage pursuant to which any amounts (whether monthly payments, overdue principal, late charges, taxes, insurance premiums, and/or any other amounts or items) are due. 2. Mortgagor's sole member has authorized execution of this mortgage. 3. LATE CHARGES. In the event that any payment shall become overdue for a period in excess of fifteen charge" days after the due date, a "late of FIVE per cent of each dollar ($1.00) so overdue will be charged by the Mortgagee for the purpose of defraying the expense incidental to handling such delinquent payment, and such late charges are also secured by this Mortgage. 4. PAYMENT. The Mortgagor promises to pay the principal and interest, and/or any other amount, due under the Note and/or other obligation secured by this Mortgage, when due and payable, plus all other indebtedness secured by this Mortgage. 5. WARRANTY OF TITLE. The Mortgagor warrants the title to the Mortgaged Property, and warrants and represents that the full amount owed as described above is secured by this Mortgage and that this Mortgage is a valid first mortgage lien on, and security interest in, the Premises and Mortgaged Property. 6. INSURANCE. The Mortgagor will keep the buildings and improvements on the Mortgaged Property, as coverage" hereinbefore provided, insured against loss by fire and the perils covered by the usual "extended endorsement, (and if this Mortgage includes personal property, said insurance shall include a "Lender's Loss Payable" clause) in an amount to be approved by the Mortgagee, not exceeding in the aggregate one hundred percent (100%) of their full insurable value, and in companies to be approved by the Mortgagee, and will on demand exhibit to the Mortgagee receipts evidencing payment of the premiums for such insurance and the Mortgagor will assign and deliver the policy or policies of such insurance to the Mortgagee, which policy or polictes shall have endorsed thereon the standard New York Mortgagee Clause in the name of the Montgagee in such manner and form as approved bythe Mortgagee, thatthe Mortgagee shall hold such policy or policies as collateral and further security for the payment of the indebtedness and interest secured by this Mortgage; and, in default of so doing, the Mottgagee may procure such insurance, and pay the premiums therefor, and in such event the Mortgagor will on demand pay to the Mortgagee such premiums so paid, with mterest from the date of payment, and the same shall be deemed to be secured by this Mortgage and shall be collectible thereupon in like manner as the principal monies; and, should the Mortgagee by reason of such msurance receive any sum or sums of money for damage by the perils insured agamst, such sums may be 2 FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477 NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023 100 INSTR#: 2010-37915 06/07/2010 MORTGAGE Image: 4 of 13 All County Title/Escrow Town: Mohawk Title # 10-ACA-10108 SBL: 35.12-3-23 Schedule A Description ALL THAT TRACT OR PARCEL OF LAND, situate in the Village of Ponda, Montgomery County, New York, bounded and described as follows: BEGINNING at an iron pipe set in the southerly margin a f New York State Route 5 (East Main Street) which point lies south·88 degrees 00 minutes 00 seconds east 38.73 feet as measured along said margin from the intersection of the extension of the easterly margin of Cemetery Street with the southerly margin of said Route 5; . . THENCE south 88 degrees 00 minutes 00 seconds east 285.00 feet along the southerly margin of said Route 5 to an iron pipe marking the most northwesterly corner of lands of Compani; THENCE south 2 degrees 28 minutes 05 seconds west 21 I.43 feet the along westerly line of lands of Compani to an iron pipe set in the line of northerly lands of Montrose Railroad Company; THENCE north 86 degrees 25 minutes 24 seconds 285.04 feet along the northerly side of said Railroad to an iron pipe; THENCE north 2 degrees 28 minutes 05 seconds east 203.59 feet the along easterly line of lands of Geloso to the point or place of beginning. Containing 59,l38 feet or 1.36 acres of land, more pr less. Nore particularly described in a recent * survey by Daniel J. O'Brien, PLS dated March 4, 2010 as follows:- . a FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477 NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023 100 INSTR#: 2010-37915 06/07/2010 MORTGAGE Image: 5 of 13 . All County Title/Escrow Town: Mohawk Title # 10-ACA-10108 SBL: 35.12-3-23 Schedule A Description All that certain lot, piece or parcel of land situate, iying and being in the Village of Fonda, County of Montgomery, State of New York and being more accurately bounded and described as follows: Beginning at a point in the southerly line ofNew York State Route # 5 (a.k.a East Main Street) being at the northeasterly corner of lands of Geloso as described in deed liber 404 page 802 and also being the northwesterly most camer of the here-in described parcel; thence from the said point or place of beginning and following along the southerly line of New York State Route #5, South 88 degrees 00 minutes 00 seconds Bast 285.00 feet to a point; thence along the line of lands of Hanson as described in d1.708 pg.15, South 02 degrees 28 minutes 05 seconds West 211.43 feet to a point being the rusted remains of an old pipe found; thence along the lands of New York Central Line, Inc., North 86 degrees 25 minutes 24 seconds West 285.04 feet to a point; thence along the line of Geloso before mentioned, North 02 degrees 28 minutes 05 seconds East 203.59 feet to the point or place of beginning and containing 1.35 acres of land, more or less. B FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477 NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023 INSTR# : 2010-37 915 O 6 /07 / 2010 MORTGAGE Image : 6 of 13 00 retained and applied by the Mortgagee to payment ofthe indebtedness and interest secured by this Mortgage, or the same may be paid over either wholly or in part to the Mortgagor for the repair of said buildings or for the erection of new buildings in their place, or for any other purpose or object satisfactory to the Mortgagee, and, if the Mortgagee receives and retains insurance money for such damage, the lien of this Mortgage shall be affected only by the reduction of the amount of said lien by the amount of insurance money received and retained by said Mortgagee. If the Mortgaged Property is determined to be in a flood hazard area under the Flood Disaster Act of 1973, the Mortgagor must provide the Mortgagee with insurance against loss or damage to the Mortgaged Property by flood to be written by a Company, on such terms, in such form and for such periods and amounts, as may be satisfactory to Mortgagee. 7. TAXES. The Mortgagor will pay all taxes, including corporate franchise taxes, if applicable, assessments and/or water rates and/or sewer rates and/or any and all taxes, charges, assessments which are applicable to the use and/or occupancy and/or existence of the Mortgaged Property; and in the event that the Mortgagor fails to pay same, Mortgagee may (but is not obligated to) pay same and the Mortgagor will, on demand, pay to the Mortgagee any amounts so paid by the Mortgagee with interest from the day of payment, and the same shall be deemed to be secured by the Mortgage and shall be collectible thereupon in like manner as the principal monies. 8. ESCROWS FOR TAXES, INSURANCE. Notwithstanding any contrary provision of this mortgage, upon written request from mortgagee, at any time and/or from time to time at Mortgagee's sole discretion during the life of this mortgage, mortgagor shall pay to mortgagee on or before the first day of each month or such other day of the month selected by mortgagee, a sum equal to one-twelfth of the estimated annual amount of all taxes, assessments, water, and/or sewer and/or comparable charges, and of all premiums for insurance required hereunder. Mortgagee in its sole discretion shall determine the necessary and/or fractional amounts to be deposited so that, as of one month prior to the due dates of each such obligation, mortgagee shall hold sufficient funds to timely and fully pay the obligation or installment of same. Mortgagee shall hold amounts payable hereunder without interest. Mortgagee shall apply such amounts to payment of the obligations to which the amounts relate, and, at mortgagee's option, in such order or priority as mortgagee shall determine, on or before the dates on which the same or any of them would delinquent. If at any time before the due date of any of such obligations, mortgagee determines that the amounts on deposit do not suffice to timely and fully pay any such obligation, then mortgagor shall deposit the amount of the deficiency with mortgagee within ten (10) days after demand. This paragraph shall not be deemed to affect any right or remedy of mortgagee under this mortgage or under any statute or rule of law to pay such amount and to add the amount so paid to the outstanding debt hereby secured. If there is a default under this mortgage, mortgage may, at its option and without notice to mortgagor, apply any funds held under this paragraph in payment of any amounts due under this mortgage. Any amount(s) determined by Mortgagee to be due hereunder (whether single or recurring or otherwise) shall be payable upon not less than five (5) business days notice from Mortgagee; one or more payments may be specified in any such notice. 9. NO ALTERATIONS. No building or improvement presently on or hereinafter constructed on the Premises shall be removed, demolished or altered in such a manner as to adversely affect its structural strength or its value, without the consent of the Mortgagee. 10. ESTOPPEL CERTIFICATE. The Mortgagor, within five (5) business days upon request in person or wntten notice will furnish a written statement duly acknowledged of the amount due on this Mortgage and whether any offsets or defenses exist against the mortgage debt. 1l. SECTION 13 OF THE LIEN LAW. The Mortgagor will receive the proceeds of indebtedness secured by this Mortgage, subject to the trust fund provisions of Section 13 of the Lien Law. 12, NO RELEASE OR DISCHARGE UNTIL FULL PAYMENT; RIGHT TO RELEASE ANY PORTION OF THE PROPERTY.. Until the full payment of all indebtedness evidenced by the Note with mterest at the rate therein agreement with any other person, firm specified, (A) regardless of any subsequent Corporation modifying, the terms of the Note or any agreement to m said amending, altering or changing referred Note or this Mortgage, or spreading the lien thereof, or consolidating the same with any other gage, the obligations of the Mortgagor to pay the indebtedness and interest at the rate specified in the No secured by this Mortgage shall not be released or discharged or affected in any way, and/or (B) y¡ rt.gagor shall not, at the sole discretion of the Mortgagee, be entitled to a release or satisfaction of the lien o may¹Sfortgage with respect to any of the Mortgaged Property. the foregoing, Mortgagee Notwithstanding as to th'SS'Sny portion ofthe Mortgaged Property for such consideration as Mortgagee may require without, nder of the Mortgaged Property, in any way impairing or affecting the lien or priority of this instrum , or improving the position of any subordinate hen holder with respectthereto, except to the e, FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477 NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023 100 INSTR# : 2010-37 915 0 6 /07 /2010 MORTGAGE Image : 7 of 13 that the obligations hereby secured shall have been reduced by the actual monetary consideration, if any, received by Mortgagee for such release, and may accept by assignment, pledge, or otherwise any other property in place thereof as Mortgagee may require without being accountable for so doing to any other lien holder; and this instrument shall continue as a lien and security interest in the remaining portion of the Mortgaged Property. 13. BOOKS, RECORDS AND FINANCIAL STATEMENTS. The Mortgagor will at all times keep proper books and records and accounts in accordance with generally accepted accounting principles consistently applied and shall within five (5) business days of demand: 13.1. permit the Mortgagee or its representatives to examine such books and records and all supporting vouchers and data at any time from time to time on request, at its offices, or at such other location as may be mutually agreed upon. 13.2. provide a balance sheet truly presenting the financial condition of the Mortgagor as of the close of each fiscal year and statements of cash flow truly presenting the results of operations of the Mortgagor for such fiscal year, and a statement of changes in financial position, all prepared in accordance "reviewed" with generally accepted accounting principles consistently applied and by independent certified public accountants acceptable to the Mortgagee, together with, if requested, referred to in the preceding subparagraph, a certificate of the independent certified public accountants who reviewed said annual report stating that in making the examination necessary to said review of the annual report they have obtained no knowledge of any default by the Mortgagor in the performance of any of the covenants, conditions, agreements or warranties under this Mortgage and the Note, or, ifthey shall have obtained knowledge of any such default, the nature thereof. 13.3. within five business days after the close of each fiscal quarter, provide to Mortgagee a compiled statement of financial position truly presenting the financial condition of the Mortgagor as of the close of such fiscal quarter and compiled statements of operations and retained earnings and changes in fmancial position truly presenting activities of the Mortgagor for such fiscal quarter, all prepared in accordance with generally accepted accounting principles consistently applied and verified by the President and Treasurer of the Mortgagor. 13,4. provide a certificate of the President, a Vice President, or the Treasurer of the Mortgagor with knowledge of the facts in question stating that a review of the activities of the Mortgagor to date during the fiscal year in question has been made under [his/her] supervision with a view to determining whether the Mortgagor has fulfilled all of its obligations under this Mortgage and the Note, and that the Mortgagar has fulfilled all such obligations, or, if not, specifying all defaults of which [he/she] has knowledge. 14. INDEMNIFICATION. Mortgagor hereby covenants and agrees, at its sole cost and expense, to indemnify, protect, defend and save harmless Mortgagee from and against any and all damages, losses, liabilities, obligations, penalties, claims, litigation, demands, defenses, judgments, suits, actions, proceedings, consultants' costs, disbursements and/orexpenses (including, without limitation, attorneys', and experts'fees, expenses and disbursements) of any kind or nature whatsoever by whomever asserted which may at any time be imposed upon, incurred by or asserted or awarded against Mortgagee relating to, resulting from or arising out of the past, present or future (a) use of the Mortgaged Property for the storage, treatment, generation, . transportation, processing, handling, production or disposal of any Hazardous Substance or as a landfill or other waste disposal site or for military, manufacturing or industrial purposes; (b) presence of any Hazardous Substances or a Release or the threat of a Release on, at or from the Mortgaged Property; c) appropriate investigative, containment, removal, clean up and other remedial actions with respect to a Release or the threat of any Release on, at or from the Mortgaged Property; (d) human exposure to any Hazardous Substance or nuisances of whatever kind to the extent the same arise from the condition of the Mortgaged Property or the ownership, use, operation, sale,transfer or conveyance thereof;(e) violation of any applicable environmental law; or (f) noncompliance with any environmental permit. , I4.1. The liability of Mortgagor to Mortgagee hereunder shall in no way be limited, abridged, impaired or otherwise affected by (I) any amendment or modification of the Note; (ii) any increase in the amount of the Note or the extension of any additional debt to the Mortgagor; (iii) any extensions oftime for payment or performance required by the Note; (iv) the release of Mortgagor, any guarantor of this loan or any other person from the performance or observance of any of the agreements, covenants, terms or conditions contained in the Note or this Mortgage; (v) any exculpatory rovision contained in any of the Loan Documents limiting Mortgagee's recourse to property encumbe by the Mortgage or to any other securityor limiting Mortgagee's rights to adeficiencyjudgmentagainst applicable statute Mortgagor;(vi)any 4 FILED: MONTGOMERY COUNTY CLERK 02/10/2023 12:56 PM INDEX NO. EF2022-477 NYSCEF DOC. NO. 143 RECEIVED NYSCEF: 02/10/2023 INSTR# : 2 0 10-37 915 0 6 /07 /2010 MORTGAGE Ima ge : 8 of 13 100 . of limitations; (vii) any investigation or inquiry conducted by or on the behalf of Mortgagee or any information which Mortgagee may have or obtain with respect to the environmental or ecological condition of the Mortgaged Property; (viii) the sale, assignment or foreclosure of the Note or this Mortgage; (ix) the sale, transfer, conveyance or lease of all or part of the Mortgaged Property; (x) the dissolution or liquidation of Mortgagor; (xi) the death or legal incapacity of the Mortgagor; (xii) the release or discharge, in whole or in part, of the Mo tgagor in any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or similar proceeding; or (xiii) any other circumstances which might otherwise constitute a legal or equitable release or discharge, in whole or in part, of Mortgagor under this Mortgage. Substance" 14.2. For purposes of this paragraph, "Hazardous means, without limitation, any flammables, explosive, radon, radioactive materials, asbestos, urea formaldehyde foam insulation, polychlorinated-biphenyls, petroleum and petroleum-based products or by-products, methane, hazardous materials, medical waste, hazardous wastes, hazardous or toxic substances or related materials, as defined in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42 U.S.C, Sections 9601, et seq.), the Hazardous Materials Transportation Act, as amended (49 U.S.C. Sections I801, et seq.), the Toxic Substances Control Act, as amended (15 U.S.C. Sections 2601, et seq.), Articles 15 and 27 of the New York State Environmental Conservation Law and in the regulations promulgated Substance" thereunder. The term "Hazardous does not include consumer products which are stored and used by a consumer with reasonable care and for their intended use. "Release" I4.3. For purpose of this paragraph, means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, or disposing mto the environment, including the abandonment or discarding of barrels, containers, and other receptacles containing any Hazardous Substance. 15. MORTGAGE TAX. Mortgagor agrees that in the event that mortgage recording tax is required for any reason whatsoever, Mortgagor will pay said tax on demand to Mortgagee; and if Mortgagor fails to pay said tax, the Mortgagee may pay same. The amounts paid by the Mortgagee, plus interest at the rate set forth in the Note from the date of payment, shall be deemed to be secured by this Mortgage and shall be collected in like manner as the principal monies. 16. DEFAULT. I6.1. Provided that this paragraph shall not be deemed to limit or modify any of the terms of the Note or rights of the Mortgagee thereunder, the Mortgagee shall be entitled, at its option, to declare the Mortgagor in default and the whole of the indebtedness and interest to be immediately due and payable: (a) aher failure to pay any installment of principal or of interest, and/or any other amount due under the obligation secured by this moitgage, for fifteen days (15) days (b) after failure to pay any tax, water rate or assessment, or to exhibit to the Mortgagee receipts evidencing payment thereof, within ten (10) business days after notice and demand; (c) after failure to pay any premiums on the policies insuring the buildings and improvements on the Mortgaged Property, or to exhibit to the Mortgagee receipts evidencing payment thereof, or to assign and deliver such policies to the Mortgagee, or to reimburse the Mortgagee for