First, dry the materials by bringing them out of the basement, and allowing them to air dry in a room with a fan, or outside, laying on a clean surface (like a sheet). Put a weight (a rock) on the papers to keep them from blowing away. Once the moldy material seems dry to the touch and not smeary or highly smelly, it is probably dormant. But still consider wearing an N-95 rated particulate mask (available at hardware stores) when you handle it. Also, some people advise wearing nitrile or latex gloves. If your work surface is not cleanable at the end of the day with a bleach solution (10% in water), you can lay out the materials on a disposable surface such as clean unprinted newsprint (available at art supply and shipping/moving stores) or sheet. Gently wipe the documents with cotton balls on both sides and then discard the wiping materials & newsprint on the same day. Be careful of any rips in the paper that may catch on the cotton, and do not use this approach if the writing or drawing is in soft pencil, charcoal, pastel or other media that may smear! Another technique is to use a HEPA vacuum cleaner with a brush attachment. This is tricky: you need to vacuum at low suction through a screen like a fabric window screen. Please exercise caution! You don't want to suck papers into your vacuum cleaner! Some have said that embedding mildewed items into silica balls (certain cat litter brands), helps to remove the odor, but I have never tried this. If you plan on duplicating your documents on a scanner, have several static-attracting dust wipes to wipe the surfaces at the ready. These can be washed in a bleach solution and reused in the future. Avoid the use of ammonia and bleaches near photographs and documents as the fumes can affect the silver and dyes!

Lastly, be sure to keep the documents in a clean, airy, stable environment. Mold is most often dormant, not dead, and can bloom again in elevated relative humidity over 50%.

We have a couple of blog posts on this topic http://siarchives.si.edu/blog/you-asked-we-answered-taking-care-your-own-archives Go to the blog and type "mold" and you'll see several other ideas and suggestions.