HomeMy WebLinkAbout0012 P1~pY11~Ct~ 1~W8 8y thot ij ao~d Jlfort~a~or, heira, le~al
reprPBenta ivea or a8ai~ shall pay unto the aa~d JKort~a~ee, hsr te~al ~
repr~sentativea or ossi~a, the Qe~tain pro~n~saory note , of whiah the Jollowin~ ~
i~: wordg and ~t~urea is • true cop 7 , to wit:
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and shall Rerfor~ra, comply with and abide by eaeh and every the stipulations,
a~sreements, conditions and covenants of said promissory note and oj this deed,
then this deed and the estate hereby created shall cease and be null and uoid.
AIl(~ the said .h[ort~agor for tt?enselves ~ their heirs,
j legal representatives -and ossi~na, hereby covenant and agree : .
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~ 1. To pay ait and sin~ular th6 principol and intereat and otlr~r su~na o~ ~noney
pa~able by virtue o~ said promisaory note and thia deed, or either, promptly on
the ciaya reapectivelb the same severoitb come due.
8. To pay al1 and sin~ular the taxes, assesaments, teviea, liabiitties, obli~atlona
and encumbrances o~ every natu~e on said described property each and everb, and
if the aam,e be not promptly paid th.e suid .JKort~a~ee, ber heira,
legal representatives or asaigns ma~ at any tirrie pay the same without wair~ing or
a~'ectin~ the option to foreclose or any ri~~ht hereunder, and et~ery payment so made
- sh.all bear interest fmrrz the date thereof at the rate of s~ per cent. per annum.
3. To pay ali and sin~ular ~he coats, char~es and expen.qea, inctudin~ lawyer'a
feea, rea8onably incurred or paid at an~ time by said Mortga~ee, ~r
heira, le~al representatives or assi~na, beeause of the failure on the part of the said
Mortga~or, their - heirs, le~al representativea o~ assigns, to perforrrd,
corrtply w~th and abide by each and every the stipulations, agreements, conditions
and covenants of aaid promissor~ note and this deed, or either; and ever~ Ruch
payment sholl bear interest fro~n date at the rate of siz per cent. per annum.
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To keep the buildin~ now or hereafter on said land insu~ec~in a 8um not
1esa t/tanSeventy-Fiv~ Hnndred (i75.~•~) Dollars, in a com.pany or co~npanies to
be.approved by said Jliort~a ee~ and the policl/ or podicies held by and payable
to aaid .hfort~a~ee, ~r heirs, tegai ~epresentativea or aaai~ns, and in
the event any surri oJ m,oney becomea payabte under such policy or polacies, the
Mort~a~ee, . her heirs, le~ol representatives or oa8i~ns, shall have the
option to receive and apply the ad~ne on account o1 the ini~ebtedneas her~b secured
o~ to permit the Mort~agor to reeeive and uae ft, or any part ~hereof, for other
purpoaea, without thereby waivin~ or iinpairin~ any equitb Iien or ri~ht under or
by virtue o~ thia mort~a~e, and may ptaee and pay for sueh inauranee or any
part thereoJ without .woit~in~ or a11'ectin~ the op#on to foreeloae o~ any right here-
under, and eaoh and every such payment sh.all bear inte~eat fro~n date at the rate
o~ - siz par cent. per a~nurri. -
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