HomeMy WebLinkAbout2753 ~ ..r.-_._. . . - - ~
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PROVIDED ALWAY3, sod the~s. pe+e:enb u+s upciu tbs espc~ers coadition tLat if tbe
• a~o~t~on ~tl paY to ths mo~ee~ ths certaia o~+o~ni»o~y nodes: oE evea du~s bar~e~wlth,
~ paya6k ~o tbs order uE the mact~agee~. ~n the pr~ndpal ~un oE
+ ~ v~ae ~ rr.r~r ~ ~a ao,~o non~
lso, ooo. oo ~ togethe~ with all iae~at ~iereoA oop~? o~ oop~ o~ whid? sre atbched
~ ~rebo). --------r~-- . and wlth.PrindP~l wd in• ; .
~~yable on the terms and at tbe rate provtd~d therein; and a11 renewala, e~cEensioaa a 1
tto~ o a4id no~es; ~nd sbaU duly, p~+omptly and fully perform, dtsch~rge, exocute,
effect. oomPlete, oomply wtth ~nd abide by eitch abd e~very, cov~enan~ agr~men~ oblig~ai-
. i tton, oonditlon ~nd stipulatlon of ~id ~PranissorY aotes aad of this moartgage cleexi, each
~ and every, thea: thta. naortg~go and the est~tte hereby created shaU ocase wid be null -
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'wd vold. Provided, lt i~ furthec oovenanced and sgreed by the parNes Lareto tt,at this morc .
~ M gage atso sec~,res the payanent of and iacludes all fufure ar further advanoes as shall be made
~ by the morcgagees harcin co ar fo~r che benefit of cbe mortgstsurs, vvithi~, ten years f~rom .
. the date hereof, to the same extent t~s if such f uture Rdvano~ were made an the d~te of the
ezec~utloa of t~?is ma~tg~ge. The eocal amount of ~adebtedne~s th~t n,ay be secured by ihis
mortgage m4y c~ecrwse or ~ncnase from tt~ne to tjme, but the botal unpaid balanoe so sec~u~e~
at ~.any one tlme slwll not e:cjeed the inaximum par~ndpal suam af ; ~ ,
,
together with interest tLereon- aad any and slI disb~ursements made by d~e mortgagces for tha ,
. payment of t~es, lev~tes, or insuranoe on the property eovered by tLe lien of this mortgage. wlth
, ~ interest on such disbu~rsements as pi+ovlded for herdnsfter, and f~ar-reasonable atborneys' fees•.
and oourt oosts incurred ia the oollecttoa of any o~ all of sw~ sums of "money. Such furth~r aar
~ future advanoes shall be wholly optional with the mo~tgag~, and d~e ~e s~ll~s~interest.
. as provlded in tLe notes secured hereby. untess said ince~c mte ahall be mod~f~ed by subse--~'-.. -
~ quent .a~en~ ~ - '
t`~ AND the said mortgagors oovenant with the said ma~t~agees as follaws: . r ~
y 1. To make all p~ymeats requked by said notes and this imort8~8e P~?P~Y wLen due.' =
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2. To pay all t~uces, ass~ents, lieas and eneumbraaoes on sAid lsnds prompdy wheri
due. If they are not pramptly paid, the mortgagees a~?Y paY them-witlwut waiving the opdori ~
_ to foreciose, and such P~?Yments, with interest thereoa at the rste of eight per oent (896) per
annum 5rmn date of payment, sLall aLso be ~s~eccured by the lien of this mor#gage~
~~'t 3. To keep the building~ and improvemeata on the said premises and articles of per: -
sonal PropertY oovered by this nartgage insured against loss by fire and other haznrds as - :
may be~ n~wnably requ~red by the nwrtgagees, in form and araounts aad wlth oonagsnies ap-
~ F ~ proved by the mortgagees. ~Ui poL'des shalt be deposited wtch tbe naozcgageea with premiwms
fuIIY P~P~d and with pmper mortgagees cLtuses attnc6ed therr~bo. T~e mortgagors agree, ~n
= t:- the event of any Ioss under anY. Po~Y of insuranoe; that the ~ooeeds ahall be paid dtreCtly to the .
. mortgagees and the mortgageea may, in thefr sole discretion, aPplY tbe amount so oollected,
i,
i . or any pait thereof, on the indebbedness hereby secured in whatever manner tbe mort
~agees may deem advisable, osr toward the repair or restoration of the damaged premises, _
or any portion thereof. In case the mortgagors faii to inswre the premisea as herein agreed, the
~ mortgagees are hereby authorized to procure and pay for s~h insuirano~ as they may deem ~
~ ~ neoessary, and every such payntent sLull bear interest fro~n the date thereof at tLe rate of `
eigbt peroent (89~') Per annum and shall be secured by the liet? of this mortgage. . ~ ,
j- 4. To oummit, Permit, or suffer no waste, impairment, or deterioration aE the mortgaged
{ ProPertY• - ~
~ ~ 5. To pay aU eYpenses rea~anably inc.vn~ed by the ma~tgngees because of faiZure of tLe ~ _
1 mortg,agon to c~nply_ with the ageemtnts in aaid notes or thia nartgage, inctudi~?g reasonable -
; , attoraeys fees. Tbe oost tbereof, with -interest t6e~reon ~t-the rafie af eight per oent (8~) per
; ~ annum from date of PsYmant, s6all aLso be sewred by t6e IfCn of'tbis nartg~ige. _
i 6. If anY P~Y~ent provided fo~ in said notes is not pi~d wlthb? thirty da~n after it beoomes- •
b~, or if ~ agreement in this mortg,sge otber tl~ the. a,~t t~ ms)ce the peymeats is ~
~ eacl~ed, enttre unpsid p~indpal balanoe of said notea a6all innmediateiy b4oome due st the -
opt~on o# tbe mortg~gees, and the nartg,~gees may forecl~o~e this ~gp ia the m~uia p~+n- .
vided by~~ bave the narta'~8~ P~~r sold to ati~fy o~r ap~ty on d~e inde~edne~
; - b'Y
~ , 7. 1'be reats an~d profits a~ the mo~t~ed p~+upe~rty are st~o Lenbry? mortg,~tged, sod if
.
~ prooeeding~ to forec~o~e tl~ mo~rtt~e athaU 64 i~titu~ed, the eourt havtag ~~dietl~on t~roo~f
:haU int a reoeivar of the ' _
h "p'p° ~8~ P~~Y, ~ spp1Y tLose reats a~nd p:+o~its b the ~ :
iQdebtednes~ Leareby, ~ecurecl, ..r~e~a af the ~lvenc.y, cf oir
. ~be.mo~t~a~o~s : tba ade9uac'~i :
~ ' of ~ tbe :ecurit
e~ eveat tbe ' ~ I }'~~9
~ oa?demoed or t~lcen far ~y to tLis~ mortg~~ ec any part d~ereo~, ~aII be
publie we unde~r powrors of e~nin~et doa~in, tbs .mortg~t~ee~ ~a11
4` Lav~e the r~ght to d~d th~t aII money swudcd far tbe ~
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