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~.~aea Aiway~, that if 8air~ .M'ort~d~or Sha,ll pa~/ unto the said JKort~a~ee
the certain pmmisaory »ote, of which tJ+a followin~ in wom~s and fl~'ures is a true copb,
to wit: ~ .
~ PROMISSORY NOTS
The Mortgaqora ~hall pay to the Mortqaqees the aum of $7,000.00
at $100.00 per a?onth, commencinq 30 days after the mortqagors take
possession of the property here~n described, at no interest, with the
further promise that $1,000.00 shall be paid on this swn within 12
months of the date of this instrument, said principal sum to be payable
without interest as described in this note, namely, at the rate of
$100.00 per month, with the additional sum of $1,000.00 due within 12
months of the date hereof, said payments to be made at the residence of
the mortqaqees.
In the event that this mortgaqe sha],l became in default, then the
mortgagees aqree to pay all costs of collection, includinq a reason-
able attorney's fee, in the event of foreclosure.
- - Wil am . Blanchar
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ancl sholt perfoim, comply with and abide by e~,ich and every the stipulations,
m~reements, conditions and covencants of said pro~nissory note dnd of this deed, then
this deed and the esta,te hereby created sluall ceo~se and be null and void.
~ Alld the so~id .M~ort,gmgor h,ereby covenants and agrees: -
i
~ .1. To pay oll and sin~udar the princLpal a~ul interest and other sum,s of money
payable by vdrtue of said promissorrJ note and this deed, or either, promptly on the
~ days respectively the same severally come due.
~ To pay all and singular the taxes, assessments, let~ies, liabilities, obligations
and encumbrances of every nature on said described property each and every, and
if the smm,e be not promptly pcaid tlr,e scud Mort~m~ee m,cLy cr,t any time pdy the sam.e
urithout waiving or a~ectin~ the option to foreclose or any right hereunder, and every
po,yment So mcLde sluall bear interest frorrc til,e date thereof at the ra,te of none
per cent. per annum.
To pay al1 and sin~ular the costs, Cjl(1TgP,R arul expenses, including lawyer's
feea, recc~sonably incurred or paid at mny time by sccid .1Kort~m~see because of tlue failure
on the pa~rt of the sa,id .~ort~ctgor to perfor~n, co~nplaf with dnd abide by each and
every the stipula,tions, cig'reements, condiLions and covenctnts of sdial pramr,ssory note
and this deed, or either, a,nd every such pa,yment sh,a,ll bear interest frorrz date at the
~ o
f none per cent. per a,nnurro.
~ To keep the building now or hereafter on said land insured in a sum not
~
dessthan THREE THOUSAND AND NO/10~ -----($3,000.00)
ollars, in a company or corrtpanies to
be apprnved by 8aid .Mortgmgee, a,nd the policy or policies held by dnd pacy,crble to sa~id
~ Mort~mgee, and in the event dny surri of monPy becomes pa~a,ble under such policy or
~ policies, the .1Kort~agee 8ha,ll have the option to receive mnd acpply the same on account
of the indebtedneas hereby secured or to pernLit the .1Kortga~or to receive mnd uae it, or
~ ctny part thereof, for other purposes, without thereby wccivin~ or i~npdiring any equit~
lien or r~ght under or by irirtue of this mortgage, and ~rur,y pla,ce dnd pay for such
in~urcance or cr,ny pu,rt thereof, without wcuvin~ or affectin,~ the option to foreclose or
an~ right h~ereunder, ur~d eczch and every Such po,bm,ent 8hall bea,r interest frn~n d,a,te
a.t the na,te of None per cent. per annu,~n.
BOOK 1/ z PACE S13
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