HomeMy WebLinkAbout1254 and shall ~uerfo~m, com-pIJ with an.d abide bJ escla and every the s~ipulations,
ca~reements, conditions• acnd covenacnts of said prorriissory note acnd of this deed, then
this deed and tlae estate hereby created shall ceci,se and be nutl and void.
.~It~i the sccid .hiort~a~or hereby covenacnt.s and agrees:
-1. To pay all anad sin~ular th.e principal a~ul interest and other sums of moneJ
payable by virtue of said promissorJ ~aote and this deed, or either, pro»LptlJ on the
days respectively the sa~ne severallJ co~ne due.
Q. To pay all a~rd singular the tvxes, assessments, leLZes, liabili.ties, nbtigations
a~td encumbrances of everr,/ nature on said de,scribed propert~ each and every, and
if the same be not prorraptly paid the scr,id .1Kortgagee m,ay at any tirne pay ~he sdme
without waivin~ or df~'ectin3s the option to foreclose or c~ny right hereundeT, and every
pacyment so ma,d.e slr.cill bear interest from the date thereof u,t the rate of eight
per cent. per annum.
7'o pab all and sin~ular the costs, char6es: an,~l expenses. i~acludin~ lawJer's
fees, reasonably incurred or pdid at any time by sc~id .M~ort~ac~see because of the failure
on the pcart of the said .~ort,~agor to perfor~rrc, comply with a~ad abule by each and
every the stipulations, cc~reements, conditions and covenants of' said prumissory note
mnd this deed, or either, c~nd every such payment slutlt bear interest from dcate at the
rate of eight per cent. per c~nnum.
To keep the building now or hereafter on saul land insicreci in a sum. not
less than highest insurable value
' Bo~ions, in a compan~ a~ companies to
be approved by sccid .JKortgci~'ee, cand ~he poliey or polieies held by and pc~ya,ble to said
.1Kort~a~ee, and in the eaent any surrc of morcPy beeomes payable under sueh poliey or
polictes, the J4Tortgc~~ee sh~ll have the option to receive and c~pply tjie sdm,e on account
of the indebtedness hereby secured or to perncit tlae .iKort~sagor to receive cLnd use it, or
any pacrt thereof, for oth,er purposes, without therehy waiving or irrcpa,irin~ dny equity
lien or ri~ht under or by virtue of this mortgage, dnd may pla,ce and pQy for auch
insurance or any part thereof, without wa.ivin~s or mffecting the option to foreclose or
any ri~ht hereunder, cind eezch and every such paaJment shall bear interest fro~n d,a.te
at the racte of eight per cent. per annurri.
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