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HomeMy WebLinkAbout1772 - _ ~ a together with all and singular the buildings and improvemcnts now and hereafter thereon, xnd togtther alsc~ wuh all shades, scseens and screening, avvnings, ptants, shrubs, and landacaping, elevatars, plumbing rnaterial, gas and electriul fixtures and equipmeat, and all heating, cooling, and ligbting 5xtures, equipment, and/or apparatus now or hereafter attached to or used in connection with said premises, all of which shall be deemed * , rcalt and canve ed b this mort a e, and all rcnta, issucs and y Y y Y g g pro5ts which map arise .or be had from an ' portion or all of said premises. ~ ~ T~ have and to hold the same, togethu with all and singular the tenements, here.~itaments and appur- I tenances ihereunto betanging or in anywise appcrtaining, and the reversion and reversions, remainder or re- ~ mai~ders, and also all the estate, right, title. intertst, homestead, dow~er and right of dower, separate estate. ~ j " posscssion, claim and demand whatscever, as well in law as in equity, of the said mortgagors in and to the { same, and every part thereof, with the appurtenances o~ the said rnortgagors in ~nd ta the sa. e, snd evPry k;: ~ ~art and parcel thereof unto the said mortgagte in fee simpte. „ And the said mort$agors, for themselves, thtir heirs, iegal representatives~and assigns, do hereby tovenant ~ with the mortgagee, its suaessors and assigrts. ihat uid cnortgagors are indefeasibly seized of said lands in fee ~d simple: that said mortgagors have full power and lawful right to tonvey said lands in fee simple, as afore- said; that it shall be lawful for said mortgagee, its sutcessoas and assigns, at all times peaceabty and quietly ~ to enter upon, hold, occupy and enjoy said laads; that said tands are free from all encumbrances; that said rnortgagors, their heirs and legal ~epresentativea will make such further assurances to perfect the fee sirnple title ° to said tands for said mortgagee, its successors and assigns, as r~ay reasonably be required: and the said mort- gagors do heceby f~ily warrant the title to said lands and will defer?d the samr against the lawful ctaims of ati ~ persons whomscever. PROVIDED ALWAYS, that if said mortgagors, their heirs, legal representatives or assigns, sha~l pay unto the said mortgagee, its tegal representatives or assigns, the said aum of money mentioned in said otomis- sory note, and hrrein, and the interest thereon at the times and in the manner spe~ified, and all other sums ~ ~ or advances hereby secured, and shall perform, comply with and abide by eath and every the stipulations, " ~'P agreements. canditions and covenants af said promissoty note and of this deed, then this deed and the esiate ~ a~ hereby created shall cease and ~ie nu11 and void. ~ And the said mortgagors, for themselves, their heirs. legat representatives and assigns, hereby covenant y ~ and agree: 1. To pay al[ and sinRular the principal and interest and other sums of money payable by virtue of said promissocy note and this deed, ar either, promptly on the days respectively the same severally hecome due. ~ 2. To pay all and singular the taxes, assessmencs, levies, liabilities, abligations and encumbrances of ; ~ every nature on said described property, and to furnish the mortgagee with satisfactory evidence of the pay- ment of the same. The mortgagars failure to pay said taxes, assessments, levies, liabilities, obligations and ? ~ n encumbrances, and/or the mortgagors' failure to repay the mortgagee for advances for such payments if made ' i~ by the mortgagee, sha11 give the rnortgagee the right and option co declare the principal balance due together '3 w~th all advances made pursuant to the terms, prov~isians and conditions of this mortgage and th~ noie which - it secures and the further option to foreclose. : 1~ 3. To pay all and singular the costs, chacges and expenses, including lawyers' fees, reasonably inturred Y ~ or paid ai any time by said mortgagee, its successors or assigns, because of the fai[are on the part of said mortgagors, their lega( representatives or assigns to perform, comply with and abide by eath and every the sripulations, agreements. conditions and covenants of said promissory note and this deed, or either. r ~ 4. To keep the buildings nc+w ar hereafter on said lands insureci against lass by fire, ligh[ning, wind- storm, hurricane or tornad~ or such other hazards as may be now or hereafter required by the mortgagee in such amount as will be satisfactory to said mortgagee in a company or cnmpanies to be appraved by said mortgagee, and the said policy or policies to be approved by said mortgagee, and the said policy or policies ' to be held by and payable to said mortgagee, its successors, legal representatives or assigns: and rn the event any sum of money becomes payable under such policy or policies the mortgagee. its successors, legal repre- sentatives, or assigns, shall have the opYion to receive and apply the same on account of :he indebtedness a hereby secured or to perrnit the martgagors ta receive and use it, or any part thereof for othec purposes, with- ' ou[ thereby waiving or impairing any lien or right under or by virtue of this mortgage: and said rnortgagee 'i may place and pay fos such insurance, or any part the:eof, without waiving or affecting in any manner the ° opt~~n of the mortgagee zo foreclase this mortgaKe for failure oE the mortgagors to kzep said buildings and ' other property insured as herein provided, and without a~tecting any other r~ghts of the mortgagee here- under. The mort~agors [urther covenant and agres to keep the personal property located upon said lands insured in an amount and against such risks as shall be sat~sfactory to the mortgagee, such insurance being subject to the foregoing provisions of this paragraph. Failure of the mortgagors ta effect said insurance, or 1 any portion thereof, or to pay the premiums therefor, or to repay the mortgagee for premiums advanced , thereEor sha!1 give the mortgagee the right and option to declare the entire principal balance, together with ;a all interest and advances made thereunder, due and payable with the further option of 'smmediatety farecios- ' ing this mortgage for the nonpayment thereof. '~3 ~ 5. To procur~ or cause to be procured from the mortgagee or from some other insurance company satisfactory to the mortgagee a policy or policies af life insurance of a kind satisfactory to the mortgagee in ',Ia an amount satisfactory to the mortgagee on the liEe of some person acceptable to the mortgagee as an in- y s~rance risk, and to pay or cause to be paid as they become due atl premiums on said policy or policies and. as additional coflateral f~r the indebtzdness hereby secured, to keep said policy or polic~es constantly assikned :c~ the mortgagee in accordance with the terms of a form of assignment satisfactory to the mortgagee. 6. To tommit, pe~mi[ or suffec no waste, impairment, or deterioration of said progerty or any pac[ ~ thereof. 7. That in the event of the failure of the mortgagors to pay att taxes, liens, charges, a~sessrr~ents, lia- bilities, obligations and encumbrances of every nature on said described property, or to procure and pay the premiums on said insurance, or to pay the cosis of necessary repairs, or to pa~ all ather costs and expenses ' including lawyers' fees reasonably incurred oc paid by the mortgagee, all as herein provided, the mortgagee ~ 'a shali have the right to pay said hxes, liens, charges, assessments, liabi(ities, obligations and encumbrances of 4 " ~ every nature on said descnbed property, and to paq for ar procure and pay for said insurante, or to pay the costs of necessary repairs or to p~y al1 othez casts and expenses including lawyers' fees, and all amounts so ex- pended by the mort~aget shall be charged hereunder as principal money bearing interesi from date of expendi- cure at the rate of seven per c+~nt. per annum, payable when the next sutceeding installment of interest herein ~ ~ . 1+D7 -~s=~~~' ~ ~ s~~K 570