HomeMy WebLinkAbout0464 ~ pl'OVi(~t~ AlWaye~ tluzt if 8aid JKort~a~or shall pay unto th,e said J~fort,~a~ee
the cPrta~in~ pr~~ni is~ury ~wte, of' which the followin~ in words and ~it~ures is a true copy, ;
to tait: . ;
. On• pro~issory aot~ of sv~p date her~with, •ade by th• Morlgagor
ayabl~ to ths !lortgagee hereia~ id the principal su• of '
~91,000.00, together with iaterest at tbe rate of 6~ per.aonu~,
said principal and iaterest being pay~ble as follovst
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$7,500.00 on or beforo January ~2 , 1965, ~
S7,500.00 on or before January 1966, , .
$7,500.00 on or before Janudry 1967, ~
S7,500.00 on or before Jaauary 2_=~ 1968, .
- ST.S00.00 on or before January 22 , 1969, y ~
S17,833.33 on or before January 2~, 1970,
S17,833.53 on or before Januarq 22 , 1971, and
S1~,833.34 on or before January 1972.
Together vfth-interest at the rate of 6$ per annu~, p~yable
annually on the principal anniversary date.
No prepayweAt of the principal of this note ~ay bs ~ade prior
to Jan'uary l~ 1965.
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i ond thall perrorm, corrspty with arad abide b~ eaoh and at,~e~ the ~tipulattu~s~a,
a~`reement~s, conditions and cove~acnta of So,id prnmisaory 7tote a,aid of this deed, then
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s'daed and the estate hereb
y created shall ceacse and be nult and void.
1~I1(~ the said .1Kortga~or hereby covenants car~d d~ees:
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~ 1. To pay oit and ain~tilar the principu~ and intereat and other :ums oJ ~none~/ '
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payccble by virtue of scLid promissory ~ote and this deed, or either, prornptl~j on the ~
d~ccys resp~ctively the same severa.ily come due.
t. To pay alt and ain~ulai the tose~, oaieaament~, laviea, Iiabiiities, obli~ationa
a»d i~cuinbrn~ces oJ ever~ nature on iaid deioribcd prope~tb tach and ever~, and :
if the sam,e be not prnmptly paid the said .1Kortgm~ee rriay at any time pa,y the sa~ne
without wa,ivin~ or affecting the option to foreclose or any right hereunder, and euery '
pa,ym.ent 8o made shall bear interest frnm tli,e date t,hereof at the rate of s ix ( 6$ )
per cent. per annu~n. ' ~
d. To pa~ aii and aingular the coit,~, ohardea and ea~penaea, inciuciin~ lawyer'~
fees, rea~sonably incurred or paid ci,t any tim,e by scr,id JKort~agee beccause of the fculure
on the part of the sa,id .1~Iortga~or to perforin, complb with and abide by each dnd i`
every the stipulaitiona, a~reemen~s, conditions and covenants of sacid prurritssory note ~
und this deed, or eith,er., a.nd every such pa~/ment aha,ll bear intereat frnm date at the i~ -
r+u,te of six per cent. per ar,nnurri. .
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4. To keep tha buildin~ now os l~~ea~ter oA iaid land inaured ~n a su~n. not
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b~ mpprnved b~ sczid .1Kort~a~ee, cr,nd the po~iq/ or po6iciea held by and payable to 8did .
Mort,~a~ee, a,nd in th~`event anb 8urri of money becomes payable under such policy or .
policies, the .~i'ort~a~ee 8h,a.ll have the option to receive and aPP~J the same on account
of the indebtedue8s herebJ secured or to per~nit the ,1Kort~a~or to receive and use it, or
any pa.rt thereof, for other purposes, without thereby waiving or irripairirc~ any equity
lien or ri~ht und,er or b~ vLrtue of thia mort~age, and ma~ place and pay for such ,
insurance or any pcart thereof, without waivin~ or ct~`'ecting the option to foreclose or
any ri,aht hereunder, and each and every such pa,yment s~~ 'nterest ro~n da.te
at tlie ra.te of per cent. per annurri. d!': d : I~ PRGE • .
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