HomeMy WebLinkAbout2489 AND the said Mortgagor hereby covensnr and agrec :
1. To pay all and singul~r the principa( and interest and other sums of money pay- t
abk by virtue of said pmmisaory nate and ;his doed, or either, pmmpdy and on the daya 4(
respecavely the same stverally become due, f
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2. To pay all and sin,gular the caxes, Ievies, liabitidea, obligations, and encumbrancc,s i
of every nature heretofore or hereafter uaposed, placed, levied or assess~ed on aaid describ- ;
ed property for which a lien shall ezist superior in dignity to the lien of this mortgag~, each :
and every, and if the same be not pro~nptly paid the said Mortgagce inay at any time pay `
the sanr.e without waiving or affecting the option to foreclose or any right hereunder, and ;
t~c amount of every payment so made ahall bear interest from the dace thereof at the rate ~
wluch said note bears and shall be aecured by the lien of this mortgage; the Mortgagor '
agree to furnish to the Mortgagee prior to April of each year receipts for all ad valorem ~
tazes paid by the 1Vlortgagor . ~
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3. To . all and sin the costa char i
PaY 8~r , ges and expenses, including lawyer's fees,
rcasonably incurred or paid at any time by said Mortgagee because of the failure on the i
part of the said Mortgagor to perform, cvmply with and abide by each and every the t
sdpulations, agreements, conditions and covenants of said note and this deed, or either, ~
and the amount of every such payaient shall bear interest from date at the rau which aaid ~
not~ beara and ahall be secured by the lien of this mortgage. ~
~ 4. To kcep the buildings now or hereafter on said land insured against loss by fire ;
in a sum not less than th~ amount of this mortgage from time w cimc outstanding and un- 4
paid, or the full insurable val~e of such buildings, whichever is leaser, and insured against
Ioss by windstorm in auch amount that the insured will ~ot be a co-insurer under the terais
, of the policy or po4cies, in a company or companies approved by Mortgagee , and the
policy or policies held by and payable to said Mortgagce ; in the event any sum of money `
becomea payable under suc~i policy or policies, the Mortgagee shall have the ~pdon to '
roceive and apply the same on account of the obligaaon hereby secur~d or to perinit the
Mortgagor to'neceive and uae it, or any part thereof, for other purposes, without thereby
waiving or impairing any equity, lien, or right under or by virtue of this mortgage, and may
place and pay for such insurance or any part thereof without waiving or affeccing the
opdon to forecloae or any right hereundcr, and the amount of each and every such pay-
ment shall bear interest froai the date thereof at the rate which said note bears aad shall .
be secured by the 4en of this mortgage. '
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S. To p~xsnit, commit or auffer no waste, unpairment or deteriorateon of said
propcrty or any part thereof.
6. To perform, comply with and abida by ~ach and every the stipulationa, agm-
menta, conditions and covenanta in said proniissory note and in this decd set forth.
7. If any of said sums of money hcrein referred to be not prompdy and fully paid
within thirty days nest afcer the same sev~rally become due and payable, or if default in
aay other stipulation, agrc.emetit, condiaon or covenant of said promissory note and this
deed, or either, shall remain uncornecoed for thirty days after such default occurs, then ;
tlu said aggregate sum niendoned in said note then remaining unpaid, with accrued
intereat and all othcr aums secured hercby shall become due and payable forthwith or there-
after at thc option of the Mortgagee , as fully and completely as if the said sums were
originally atipulated to be paid on such day, anything in said promissory note or herein
to the contrary notwithatanding. ~
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