2013 New York Consolidated Laws
BVO - Benevolent Orders
Article 2 - (2 - 14) General Provisions
10 - Mortgaging property.

 
    § 10. Mortgaging  property.  If the funds of the corporation shall not
  be sufficient to pay for any real property purchased  by  the  board  of
  trustees  in  pursuance  of  law,  or  for  the  construction, repair or
  rebuilding of a suitable building or buildings,  and  the  finishing  or
  furnishing  of  apartments therefor, the corporation may issue its bonds
  bearing interest, semi-annually, for  such  additional  sum  as  may  be
  required  therefor,  and may execute to any such trustee or trustees, as
  the board may select, a mortgage upon its real property as security  for
  the  payment of such bonds or the corporation may borrow such additional
  sum as may be required therefor of any person or corporation and execute
  and deliver its bond for the moneys so borrowed and secure  the  payment
  thereof  by  mortgage  upon its real property as collateral thereto. The
  proceeds of such bonds or such bond and mortgage shall be applied to the
  payment of debts of the corporation incurred by  the  purchase  of  such
  real property, or the construction and repair of a building or buildings
  thereupon  or  the finishing or furnishing of apartments therein. Any of
  the bodies specified in section seven may invest its funds in the  bonds
  authorized  by  this  section  to be issued. Such corporation shall have
  authority also to borrow of any person or corporation such sum as in the
  judgment of its board of trustees may be required to pay the cost of the
  construction, repair, rebuilding or reconstruction of any such  building
  or buildings, and the finishing or furnishing of apartments therein, and
  to  secure  the  payment  of  any moneys so borrowed, and to execute and
  deliver its bond for the sum so borrowed, and to secure the  payment  of
  the same by mortgage upon its real property as collateral thereto.