Extension Agreement {NY 027}

NY 027 - Extension Agreement (NYBTU 8025) CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT - THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY THIS AGREEMENT, made the day of , in the year BETWEEN COURT COUNTY .OF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . hereinafter .designated .as .the party . . the. first part,. and. . . . . . . . . . .... .. of : : Plaintiff(s) -againsthereinafter designated as the party of the second part, WITNESSETH: Index No. Calendar No. : : : : JUDICIAL SUBPOENA Defendant(s) : . . . . . WHEREAS, that the.said. party. of.the first .part, the .holder .the. following mortgage ............... .. ... . ..... ..... .... . ..... or note secured thereby: , made by and of the bond THE PEOPLE OF THE STATE OF NEW YORK year Mortgage dated the day of , in the TO to GREETINGS: in the principal sum of $ and recorded in the Liber of section WE COMMAND YOU, that all business and excuses being laid aside, you and each of you attend before , in the office of the the of the , at Court located at County of in room , on the day of , 20 , at o'clock in the noon, and at any recessed or adjourned date, to testify and give evidence as a witness in this action on the part of the of Mortgages, page the Honorable Your failure to comply with this subpoena is punishable as a contempt of court and will make you liable to the party on whose behalf this subpoena was issued for a maximum penalty of $50 and all damages sustained as a result of your failure to comply. Witness, Honorable Court in County, now a , one of the Justices of the day of lien upon the premises situate , 20 (Attorney must sign above and type name below) Attorney(s) for there is now due the sum of dollars, with interest thereon, in consideration of one dollar paid by said party of the second part, and other valuable consideration, the receipt whereof is hereby acknowledged, does hereby extend the time of payment of the principal indebtedness secured by said bond or note and mortgage so that the same shall be due and payable Office and P.O. Address PROVIDED, the party of the second part meanwhile pay interest on the amount owing on said bond or note from the day of , in the year , at the rate of per centum per annum on the ensuing and thereafter, day of and on which bond or note Telephone No.: Facsimile No.: , in the year E-Mail Address: Mobile Tel. No.: , next and comply with all the other terms of said bond or note and mortgage are hereby modified. American LegalNet, Inc. www.USCourtForms.com AND the party of the second part, in consideration of the above extension, does hereby assume, covenant and agree to pay said principal sum and interest as above set forth and not before the maturity thereof as the same is here by extended, and to comply with the other terms of said bond or note and mortgage as hereby modified. AND the party of the second part further covenants with the party of the first part as follows: 1. That the party of the second part will pay the indebtedness as hereinbefore provided. 2. That the party of the second part will keep the buildings on the premises insured against loss by fire for the benefit of the party of the first part; that he will assign and deliver the policies to the party of the first part; and that he will reimburse the party of the first part for any premiums paid for insurance made by the party of the first part on the party of the second part's default in so insuring the buildings or in so assigning and delivering the policies. 3. That no building on the premises shall be altered, removed or demolished without the consent of the party of the first part. 4. That the whole of said principal sum and interest shall become due at the option of the party of the first part: after default in the payment of any instalment of principal or of interest for fifteen days; or after default in the payment of any tax, water rate, sewer rent or assessment for thirty days after notice and demand; or after default after notice and demand either in assigning and delivering the policies insuring the buildings against loss by fire or in reimbursing the party of the first part for premiums paid on such insurance, as hereinbefore provided; or after default upon request in furnishing a statement of the COURT amount due on any defenses COUNTY .OF.the. mortgage and whether . . . offsets .or . . . . . . .exist.against the mortgage debt, as hereinafter provided. An . .assessment which has. been. made . . . . . in .instalments at the application of the party of the second part or lessee of the . . . . . . . . . . . . . . . . . . . payable .... . ... .. : premises shall nevertheless, for the purpose of this paragraph, be deemed due and payable in its entirety on the day the first Index No. instalment becomes due or payable or a lien. : 5. That the holder of this mortgage, in any action to foreclose it, shall beCalendar No. appointment of a receiver. entitled to the 6. That the party of the second part will pay all taxes, assessments, sewer rents or water rates, and in default thereof, : the party of the first part may pay the same. JUDICIAL SUBPOENA Plaintiff(s) 7. That the party of the second part within five days upon request in person or within ten days upon request by mail -against: 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. : 8. That notice and demand or request may be in writing and may be served in person or by mail. 9. That the party of the second part warrants the title to the premises. 10. That the fire insurance policies required by paragraph No. 2: above shall contain the usual extended coverage endorsement; that in addition thereto the party of the second part, within thirty days after notice and demand, will keep the Defendant(s) : premises insured against war risk and any other hazard that may reasonably be required by the party of the first part. All of the . .provisions .of .paragraphs. No. .2. and. No. .4. above .relating. to. fire. insurance and the provisions of Section 254 of the Real ....... . ....... ... .. ... .... ..... . .. ..... Property Law construing the same shall apply to the additional insurance required by this paragraph. 11 . That in case of a foreclosure sale, said premises, or so much thereof as may be affected by said mortgage, may be sold in one parcel. THE PEOPLE OF THE STATE OF NEW YORK 12. That if any action or proceeding be commenced (except