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HomeMy WebLinkAbout2884 ~and shall perform, comply with and abide by each and every the stipu- lations, agreements, conditions and coven,a~nts of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease, determine and be null and void. AND the said Mortgagors hereby further covenairt and agree: ~ 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said note and this mort~age, or either, promptly on the days respectively the same severally come due; time and amount on the days severally when due beisig of the essence. 2. Not to remove the chattels covered by this mortgage from the present location without written consent from the Mortgagee, and any such removal by the Mortgagors, or their agents, servants, or employees, shall be deemed a willful conversion and an unlawful taking by the Mortgagacs and shall constitute a default under this mortgage. 3. At their own expense, from time to time, to replace and re- pair all parts of the chattels as may be broken, worn, or damaged, and to ~ keep the chattels-in ever~ respect in good working order and re- pair; to permit the Mortgagee to have free access to the chattels at all reasonable times. 4. To pay all and singular the taxes, a~sessments, levies, lia- bilities, obligations and encumbrances of every nature on said described property each and every, and to maintain in force and e£fect all federal, state, and ~unicipal licenses aad franchises necessary or appropriate ' for the continued operation of their business; and if the same be not ~ promptly paid then the said Mortgagee may at an~ time pay the same without waivi.ng or affecting the option to_ foreclose, or any other right ~ hereunder,a,nd every payment so made shall bear interest from the date thereof at the rate of seven (7°j6) percent per annum. 5. To keep said goods and chattels insured against loss and . damage by fire, theft and/or any other insurable risk, and for such amounts as the Mortgagee may require, such insurance to be obtained from companies satisfactory to the Mortgagee, and to be made payable - to the Mortgagee as its interest may appear as Mortgagee and as Credi- tor or as may otherwise appear, and all policies of such insurance shall be delivered to the Mortgagee; and in the event that Mortgagors shall fail to comply with these ins~ ance provisions., it shall be lawful for the Mortgagee to effect such insurance, and the premium or premiums paid for effecting the same shall be added to the amount of the indebtedness or obligation secured by These Presents, and payable on demand, wifih interest at the rate of seven (?°Jo) percent per annum. 6. To pay all and singular the costs, charges and expenses, in- cluding a reasonable att-,rney's fee, incurred or paid at any time by said -4- ~ dooK 162 P~E 481 - - - . _ _ - - ~s-= _ - ` - ~i _ '