Agreement for Participation of Interest in Mortgage

Form prepared and used by Lawyers Title & Trust Company of New York.

Thomas v. Zahke, 181 App. Div. 173, 168 N. Y. Supp. 396; Clare v. N. Y. Life Ins. Co., 178 App. Div. 877, 166 N. Y. Supp. 95;

Clare v. N. Y. Life Ins. Co., 100 Misc. 308, 166 N. Y. Supp.

after designated as the party of the second part, who ....

WHEREAS, the party of the first part has this day. the party of the second part..

a certain Indenture of Mortgage and the Bond which it secures, which Mortgage was made to.

.by

. Dollars, and interest,

.recorded in the

on.

Section....of Mortgages,

WHEREAS, the ownership of the party of the second part in said Bond and Mortgage is to the extent of... .. Dollars, with interest, and the party of the first part is now the owner of the balance of said mortgage debt....

...but

the ownership of the party of the second part is prior and superior to that of the party of the first part,

NOW, THEREFORE, the parties hereto in consideration of the premises mutually certify and agree:

1. That the ownership of the party of the second part in said Bond and Mortgage is now.

Dollars, with interest thereon at the rate of.. per annum from...

. per centum 19.., payable from each in

stalment of interest on said Bond and Mortgage, and that the party of the first part is now the owner of the balance of said Mortgage debt, but the ownership of the party of the second part is and shall be in every way prior and superior to that of the party of the first part, as if the party of the second part held a first mortgage for.. .. Dollars, and interest, and the party of the first part held.. second and subordinate mortgage to secure the balance of the mortgage debt.

a

2. That the party of the second part is authorized to receive the instalments of interest due and to become due on the said Bond and Mortgage and to give proper receipts therefor, and after deducting from each instalment the amount thereof due under this agreement to the party of the second part, shall remit... the balance to the party of the first part by mailing the same to the party of the first part at the address herein given.

3. That the party of the second part shall have all the rights of any holder of said Bond and Mortgage and is authorized to accept payment of said Bond and Mortgage and to execute a satisfaction piece therefor, and in the event of any default on said Bond and Mortgage to foreclose the same and receive the proceeds of sale from the Referee; but the party of the first part shall in any and every event have the right to an accounting for all money received by said party of the second part in excess of the ownership of the party of the second part in said Bond and Mortgage. All rights and authority given under this article by the party of the first part are irrevocable.

4. That the party of the second part is to notify the party of the first part of any and every default on said Bond and Mortgage and of any and every foreclosure by making the party of the first part a defendant in any and every suit without further notice or demand, but the party of the second part shall be under no other obligation to protect the interests of the party of the first part under any such suit or upon any sale under any such foreclosure.

5. That the interest of the party of the first part hereunder is not assignable. That the interest of the party of the second

part is assignable to any person or corporation without liability on the part of the party of the second part, if the assignment is made subject to this agreement.

6. That the party of the second part will sell to the party of the first part at any time after the...

day of

19. ., the interest of the party of the second part in said Bond and Mortgage, and will assign the said Bond and Mortgage to the party of the first part, upon being paid the amount of the share or interest of the party of the second part in said Bond and Mortgage, including principal and interest, at the time of such sale, provided such sale and assignment be requested in writing,.. .days previous to the date on

which they shall be required to be made.

7. That any notice or demand required by this agreement shall be given to the party of the first part by a notice sent through the registered mail and directed to the address of the party of the first part given herein.

8. That this agreement shall be binding upon and enure to the benefit of the respective legal representatives of the parties hereto and the assigns of said party of the second part.

Agreement Subordinating Mortgage.

Form prepared and used by Lawyers Title & Trust Company of New York.

THIS AGREEMENT, made the.. thousand nine hundred and..

day of...

one

BETWEEN

hereinafter designated as the party of the first part,

hereinafter designated as the party of the second part, and

hereinafter designated as the party of the third part,

WITNESSETH:

WHEREAS, the party of the first part is the owner in fee of premises situated in the Borough of.

of New York,.

in the City

and

.the

WHEREAS, owner....and holder....of a certain mortgage covering said premises, or a part thereof, as by reference to said mortgage will appear, and of the bond which said mortgage secures, said mortgage bearing date the.........day of...

on the..

..day of...

19. .,

Dollars,

and interest, and recorded in the Office of the Register of the County of... . . 19.., in Liber.. ..of Section......of Mortgages, page......,

and

WHEREAS, on condition that said mortgage be subordinated in the manner hereinafter appearing, the party of the third part is about. .mortgage covering said premises hereinabove described, bearing date the 19..., made by..

to...

day of...

and interest.

NOW, THEREFORE, in consideration of the premises and to induce the said party of the third part to....

and also in consideration of one dollar to each of them paid by the party of the third part, the receipt whereof is hereby acknowledged, the said parties of the first and second parts DO HEREBY, severally and respectively, covenant, consent and agree, to and with the said party of the third part, that said mortgage.. ...held by the party of the .hereby made

second part shall be, and the same.. subject and subordinate in lien to the lien of said mortgage for Dollars, and interest...

party of the third part.

..the

THIS AGREEMENT shall be binding upon and enure to the benefit of the respective heirs, legal representatives, successors and assigns of the parties hereto.

Building Loan Contract.

Form prepared and used by Lawyers Title & Trust Company of New York.

AGREEMENT, made this.... day of....

BETWEEN.

hereinafter referred to as the borrower, and.

hereinafter referred to as the lender.

19...,

WHEREAS, the borrower has applied to the lender for a loan of

....

Dollars, to be evidenced by the bond of the borrower, duly executed and acknowledged for the payment on demand made after the.....

sum of....

day of....

19..., of the said

.. Dollars, or so much thereof as shall at any time be advanced by the holder of the said bond, with interest upon each amount so advanced, from the day when such advance was made to the date of payment, at the rate of... per centum per annum.

by a

.said bond to be secured .mortgage on the premises described as follows: The borrower covenants to erect on said premises the following described building in accordance with the plans therefor filed in and duly approved by the Department of Buildings of the City of New York, and, if such building be affected by the Tenement House Law, the Tenement House Department of the City of New York. The said plans and the specifications for said building to be first submitted to and approved by the lender.

The building which the borrower covenants to erect shall be

and shall cost not less than.

Dollars.

NOW, THEREFORE, it is agreed between the parties as follows: 1. That said Mortgage is to be duly executed and acknowledged by all persons necessary to make it a valid. lien on said premises for the advances to be made, and the said Bond and Mortgage are to be in form approved by the lender, and it is expressly understood and agreed, that all gas fixtures, bath tubs, dressers, wardrobes,