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Home My WebLink About0859 ~ E The Mortgaqee herein agrees to release from the lien of this mortgage, so lonq as the note secured thereby is not in default, upon the following schedule: a. When the unpaid principal balance of said note is $2~, OUO. 00, without further payment, the seller agrees to release said Lot 12, from the lien of said mortqage. b. When the unpa.id principal ba.lance of said note is 000. 00, without further payment, the seller agrees to release sazd Lot 11 from the lien of said mortgaqe. . ~ and ahall duly, promptly and fully perform. dlschsrg~ execute, etfect, complete. comply wlth and abide by each ~ aad every the stipulstions. ,agreementa. canditions and covenants oi asid promissory note and oi Lhia mortgagq ; tben this mortgage and the estats bereby cceated ahall ceaae and be aull and void. ~ It is nnderetood that each of ths words. "note." "mortgagor" aad "mortgagee" reapectivelq and the pron- ~ ouns referring thereto. whether in the singular or plurai anywhere fn thls mortgagro. ahail be singutar it one only and shalt be plural jointly and teverally. it mon than one, and shall be masculine, feminine and/or neuter. wher- ever the oont,ext eo implies or admits. And aaid Mortgagor !or himselt an~d bis heirs, legsl representstives, successors and aasigns. henby coven. ants ana agrees to and with said Mottgagee. hia 1ega1 repreaentstivea, serccaessors and aesigns: L To pay all and aingnlar the priadpai and iaterest aad the vartous and suadry sums of money payable by vlrWs oi said promissory note, a~ Ws mortSsSe. each aad avnry. promptly on the days reapectively the eame iEVetallj? bs(~ORIS dUe. i 2 To pay all and a[ngulsr the taxe~. aseeaaments. levies. liabil3ttes. obUgations and incumbrances of every ~ nsture and kind now on ssid described ProPenY. and/or that bereatter may be imposed. suitered. Placed. levied or aaaeseed thereupon~ and/or tbat herestter may be levicd or ssaessed upon thia mortgage and/or the indebted- neas aecnred hereby. each and every~ wLen due and payable acc~oidtng Lo law~ before they become delinquent~ and before aay interest sttaches or aay penatty is incurred; and in so far as any thereof is oi record the same : ahall be promptly aatiafied and dlacharged oi record and the originai off[cist document (auch ss. for instance, the tsx rec~eipt or the aatisfaction paper oi~cially endorse~l or certified) shall be placed in the handa of esid ± Mortgagee withiu ten days next aiter payment; and in the event Lhat any thereo! ia not so paid, satiafied and t discharged, said Mortgagee may at aay time pay the eame or anq part thereof without wai~~ing or affecting any optibn, Hen, equity or right uader or by virtue oi thi9 mortgage. and the fuU amouat of each snd every ~ such payanent ahall De immediatelq due and payable and ahali bear interest fmm the date Lhereot unLil paid at the rate ot ten per centum per annum and together with such interest shall be secured by the lien oi this mortgnge. a. To p and con uously keep on buildinga n or hereafter on said I flre and orm insurance the usual dard policq to , in s aum not sa than i in h com- pany or mpanies as y be approved y said Mortgag , and ali such ca po ea on any of d build- inge. inierest in or put thereo in the aggrega sum afo ' or in ex thereof. contain ths ususl tanclard rtgagee clause g the losa er said polici each and ev ry~ payable asid Mortg3~- gee his inte msy appear~ each and every uch policy a be promptly elivered to an held by 'd gagee; an ot lesa than teu ys in advance o the expiratio ot each policy to deliver to d Mor ee renewal the f, together with receipt for the p ium ot suc renewai; an there shail o such ur- ce placed any of safd buil gs, any interest ereia or pa reot, unl in the form d with e loes payable as oieaaid; and in event ewy t moneq es payable der such cy or poli es said Mortgagee 1 have the op n to receive apply the on account t the inrlebtedn secured reby or to pe eaid Mortgagor recefve and use or any part areo! for oth purposPS wi ut the waiving ~ or im g any equity, en or right under r by virtue of is mortgage: d in the eve said gagor ahalt !or q resaon fail to k p the satd prem so lnsured, faU to er promptl y ot d policies o insu noe to aaid Mo ee, or lail pm Uy to pay ful anq premi therefor. or n any t fail to !o discharge, ex effect, compl compty with abide bq s oovenant, or y part he f, aaid Mo - ee may place pay for such 1 oe or any thereoi wtth t waiving o fecting y optio en. equity or right der or by virtue tLls mortgag and the futl a ount of eac aad eve ch paymen ahall be fmmediately e atid payabie shs11 besr inte irpm tbe thereot paid the rate oi per oentum per um aiM togethe with aucb inte shall be Dy the Hen thL mo e. 4. Z'o permlt, commit or wlter no waete. impairment or deterloratton oi satd propsrty or aay part fhereoL 6. Zb pay all aad ainguLr the costs. char8ea and ezpenaca, including nasaa?able lawyer's fees and cost ot _ abstracta ot tltle, incurred or psid at aay time by aaid M~rtgagee because and/or in the svent M the fatlure oa the part of the said l[ortgagor to d~lY. Promptly aad iWly perlorm. dlacharB0. ezec~te, eltect, complete, oomply a?itlt and abi~ by eacb aad every the stipulatlons, agreements. conditions and oovenanb o! aafd pmre:ls- wry note. aod tbla mortgag~ any or either. an8 said cosU, chargd as?d e~tpeases, each aad everq. shall bs im- medletely fi~s and PsYsble. wbether or not thers be notice. demand, attempt to oollect or suit pendtng: and ths fuU arnount of each and every n~c6 psyment shall bear interest fe+om tLs date Lbereof untll paid st We rste at te~ per eentum psr anaum: ~ad all safd oosts, cbarge~ and eupea~e~ w incure+ed or paid, togetber wltb auch in- tere~t, shail D~ ~set~red b~ tbs lkn of thfa mortgags. . ~ ~64 P~ 856 - ; . , _ ~ ~ ~ ~ ; - ~~1~ ~ ` ~i ~