II. If the loan is to be advanced in more than one payment, and any payment be requested, and the attorney of the lender shall not approve of the payment requested because of some act, incumbrance or question arising after the making of the preceding payment. III. If the borrower assigns this contract or said advances or any interest therein, or if said premises be conveyed or encumbered in any way without the consent of the lender. IV. If the improvements on said premises or any building which may be erected upon said premises shall materially encroach upon the street or upon adjoining property. V. If the borrower does not take the loan or the advances within thirty days after they are made payable, or in case where the payment of advances is dependent upon the erection of a building, the building is not fully enclosed within two months from date, or fully completed and ready for occupancy within five months from date. VI. If the improvements on said premises be, in the judgment of the lender, materially injured or destroyed by fire or otherwise. VII. If the makers of said bond and mortgage shall fail to comply with any of the covenants therein contained. VIII. If any materials, fixtures or articles used in the construction of the building or appurtenant thereto, be not purchased so that the ownership thereof will vest in the owner of the said premises free from incumbrance, on delivery at the premises. IX. If the borrower does not erect said building in accordance with plans and specifications satisfactory to the lender and plans that have been approved by the Department of Buildings of the City of New York, and if said building be affected by the Tenement House Law, by the Tenement House Department of the City of New York. X. If the owners of said premises do not permit the lender, or a representative of the lender, to enter upon said premises and inspect the building thereon at all reasonable times. XI. If the construction of said building be at any time discontinued or not carried on with reasonable despatch in the judgment of the lender. XII. If, by reason of the death of any owner of said premises, the heirs, devisees or legal representatives of such owner shall permit or allow said construction of the building to be discontinued for a period of thirty days. XIII. If the borrower make any conditional purchases of, or execute any chattel mortgage on any materials, fixtures or articles. used in the construction of the building or appurtenant thereto. XIV. If the borrower fail to comply with any requirement of any Department of the City of New York, within thirty days after notice in writing of such requirement shall have been given to said borrower by the lender. SEVENTH: And it is mutually understood and agreed by and between the parties hereto on behalf of themselves and their respective legal representatives that the bond and mortgage contemplated to be executed, acknowledged and delivered pursuant to this agreement shall be made subject to all the conditions, stipulations, agreements and covenants contained in such agreement, to the same extent and effect as they would be if fully set forth and made part of such bond and mortgage; and it is further expressly understood and agreed that, if the borrower shall fail to keep, observe or perform any of the stipulations or covenants contained in said bond and mortgage, or in this agreement, that, at the option of the holder of said bond and mortgage, the amount secured thereby shall become at once due and payable, anything to the contrary notwithstanding. IN WITNESS WHEREOF, the parties hereto have signed and sealed this agreement the day and year first above written. In the presence of John Jones. John Doe (L.S.). No. 134. Agreement for loan to member of a joint adventure by trust company, which is to receive and disburse the moneys earned by the joint adventure.12 THIS AGREEMENT, made January 5, 1923, by John Doe, residing at No. 112 Broadway, Borough of Manhattan, New York City (herein called the "First Party"), Richard Roe, residing at No. 372 Broadway, Borough of Manhattan, New York City (herein called the "Second Party"), the Doe Corporation, a corporation, 12 Adapted from Evans v. Guaranty Trust Co. (1919), 187 App. Div. 30, 175 N. Y. Supp. 118. duly organized under the laws of the State of New York, and having an office at No. 571⁄2 Broadway, Borough of Manhattan, New York City (herein called the "Corporation"), and the Koe Trust Company, a corporation, duly organized under the laws of the State of New York, and having an office at No. 57% Broadway, Borough of Manhattan, New York City (herein called the "Trust Company"), WITNESSETH: WHEREAS, the First Party has secured a contract from the United States Government, dated December 16, 1922, for assembling, loading and packing one million complete rounds of three inch shell; and WHEREAS, for the purpose of fulfilling said contract, the First Party has entered into a contract with the Corporation, dated January 5, 1923, for assembling, loading and packing the said one million complete rounds of three inch shell; and WHEREAS, the First and Second Parties are owners of the entire capital stock of the Corporation now issued and outstanding; and WHEREAS, the First and Second Parties and the Corporation have requested the Trust Company to loan to the Corporation the sum of four hundred thousand ($400,000) dollars, and to receive a note in said amount, executed. by the Corporation to the Trust Company, bearing interest at the rate of six (6%) per cent per annum, and endorsed and guaranteed by the First and Second Parties: NOW, THEREFORE, IT IS HEREBY MUTUALLY AGREED, AS FOLLOWS: 1. The Trust Company shall forthwith loan to the Corporation the sum of four hundred thousand ($400,000) dollars, for a period of four (4) months from the date hereof, and the Corporation shall execute and deliver to the Trust Company its negotiable promissory note, in the amount of four hundred thousand ($400,000) dollars, bearing even date herewith, and payable at the office of the Trust Company, four (4) months from the date hereof, with interest at the rate of six (6%) per cent per annum, which note, prior to the delivery thereof, shall be endorsed and guaranteed by the First and Second Parties. 2. The First Party shall, immediately upon receipt thereof, deposit with the Trust Company all payments received by him from the United States Government, its officers, agents or assigns, under, or by reason of, said contract dated December 16, 1922, for assem bling, loading and packing one million complete rounds of three inch shell. 3. Said sum, or sums, so deposited, shall be received and held in trust, however, by the Trust Company, for the following uses and purposes: (a) That seventy-five (75%) per cent of each and every payment received by the Trust Company shall, immediately upon receipt thereof by the Trust Company, be paid to the Corporation, its successors and assigns. (b) That the balance of twenty-five (25%) per cent of each and every payment received by the Trust Company, up to an amount equal to the amount of principal and accrued interest due and payable to the Trust Company from the Corporation on said note, or any extensions or renewals thereof, shall be set aside and held by the Trust Company, as security for the payment of said loan and said note, or any extensions and renewals thereof; and that, after such amount shall have been so set aside and held by the Trust Company, the remainder of said balance of twenty-five (25%) per cent of each and every payment received by the Trust Company shall thereafter be disbursed by the Trust Company, as follows: fifty (50%) per cent thereof to the First Party, and fifty (50%) per cent thereof to the Second Party, their heirs, executors, administrators and assigns, respectively. (c) That at the date of maturity of said note, or of any extension or renewals thereof, the Trust Company may apply the sums. held by it hereunder as security for said note, to the payment thereof. 4. That the First Party shall not assign, transfer, or set over, to any person, firm or corporation, his right, or interest, under said contract with the United States Government, dated December 16, 1922, without first obtaining the written consent thereto of the other parties to this agreement. 5. That, subject to the express provision contained in paragraph "4" hereof, this agreement shall bind, apply and extend to the executors, administrators, successors and assigns of the respective parties hereto. IN WITNESS WHEREOF, the First and Second Parties have hereunto set their hands and seals, and the Corporation and the Trust Company have caused this instrument to be executed by their respective officers, thereunto duly authorized, and their respective corporate seals to be affixed, attested by their respective Secretaries, the day and year first above written. Agreement reviving debt barred by statute of limitations.13 THIS AGREEMENT, made January 5, 1923, between John Doe, residing at No. 111⁄2 Broadway, Borough of Manhattan, New York City (herein called the "First Party"), and Richard Roe, residing in Larchmont, New York (herein called the "Second Party"), WITNESSETH: WHEREAS, the First Party, on or about August 1, 1912, sold and delivered to the Second Party certain goods, wares and merchandise, consisting of a suit of clothes, of the agreed and reasonable. value of fifty ($50) dollars; and WHEREAS, no part of such sum has been paid by the Second Party: Now, THEREFORE, IT IS HEREBY MUTUALLY AGREED, AS FOLLOWS: 1. The Second Party hereby acknowledges that he is indebted to the First Party in the sum of fifty ($50) dollars, with interest. thereon from August 1, 1912, for goods, wares and merchandise, 13 Cf. Hartley v. Requa (1896), 17 Misc. 74, 39 N. Y. Supp. 846. |