HomeMy WebLinkAbout2562 and ahall duly. promptlq and fully perform. discharg0. execute, effect, completo. connply with u?d sbide by ea~c.h
aad every the stipulationa. agrcementa. conditions and coveaants of asid promiswry note and of Lhis mortgaga.
then this mortgage and the eatsts henby created shall ceaee and be aull ar?a void.
It is underatood that each of the words, ••note." "mortgagor'• and "mortgagee" respecdvely snd the pron-
ouns referring tl~ereto. whether in the aingular or plural anyqvhere W this mortgage. shall be singular i! one oNy
and shall ba plural jointly and severaAy. it more than one. and ehall be masculine. feminine and/or neuter, whe~ ~
ever the context so impliea or admita
And aa[d D[ortgagor for hinnselt and his heirs„ legal repreaentativea. auccea~ors aad aesigns, hereby ooven-
ants ann agrees to and with said Mortgage~ his legal repreaentativee, sucoeseors and asaigns:
1. To psy all and aiagular the prlncipa! and interest aad ihe varlous and sundry sums o! money psysble b~
vlrtue of said promissory note. and t,Uis mortgage. each and every. PmmPtly on the days reapectively the eame
severally bccome due.
2. To pay sll sad singular the taxes, aaseasments. leviea. liabilities, obligationa aud incumbnances o! every
' nsture and kind now on eaid described pmperty. and/or that hereafter may be imposed. suftered. Placed, levied
f or aase.saed thereupon,
each and e~ery. when due snd payable acc~ording to law. before they become dellnquent,
and before any interest attachea or any penalty is incurred; and in so far as any thereof is oi reoord the same
ahall be promptly satiafied and discharged of record aad the orig[nal ofi'ic'lal document (such as, for inetaace,
the tax receipt or the astisfaction paper ofiicially endoreed or certified) ahall be placed in the hands o! said
Mortgagee within ten days next aiter payment; and in the event tbat aay theteof is not ao paid, aatisfied and
~ discharged. said Mortgagee may at any time pay the aame or any part Lhereof without waiving or affecting f
any optiDn, llen, equity or right under or by virtue of thia mortgage. and the tull amount of each sad every ;
auch payment ehall be Immediately due and payable and ~hall bear interest from the date thereof until paid ~
at the rate of ten per centum per annum and together with such intereat ahall be secured by the llen of this
~ ~
To place aad continuously keep on the buildinga now or hereafter eftuste on said laud flre and ~
iasurance usual standard policp torm, in e aura not iesa that~ i-----•----------•--•-..____...__...._...-•--- in auch com- t
pany or oompzni may be appmved by aaid Mortgagee; and aU such inaurance polic n any o! said build- ~
inga, anq intenst the part thereof. in ihe aggregate sum aforesaid or ln ex ereol, shall cont.ain ths E
asual atandaM mortgagee making the loss under said policies. each very. payable to said Mortga. :
gee aa hia interest may appear, each and every auch policy ~halt mptly ddivered to and held by aaid ~
Mortgagee: and, not less than ten da sdvance of the ezpiratio tach poHeq, to deHver to aaid Mortgagee ;
a renewal thereof, together with a receip the premium o ch renewal• and there shall be no auch inaur t
ance placed on any of satd buildinga, any inie erei part thereoi, unless in the form aad with We loe~
payable as atoresaid; and in the event anq sum ot becomea payable under such poUcq or policies said :
Hortgagee ahall have ihe optlon to receive y the on sccount of the tndebtedneas secured hereby or !
to permit said Mortgagor to receive and or any part the !or other purposes without thenby waiving
or impairing any equity, lien or ri der or by virtue of this mo e: and ia the eveat said Mortgagor shall
for any reason tail to keep th d premi~es so ln9ured, or fatl to promptly any ot said policies of
' Insurance to aaid Mortg r tatl prompUy to pay fuUy any pnmium tt~e or in any respect fall to per-
form, dischsrge. eaec etfec~ complete. comply with and abtde Dq thl~ oovenant, o part aereof. said Mortg-
Rgce may place pay for sucb ineurance or any part thereot without walvlag or sny option, tien.
equity or under or by vlrtue oi this mortgage, and the Nll aq~ount of each aad every yment ahall
~ be ately due and payable and shaU bear interest trom the date thereo! until pafd at the ra ten per
um per annum and together with such interest shall be secured bp the liea oi thi~ awrtgage.
To permft~ comtdt or sutter ao wa~te, impairment or deterloeatlon o2 said P='oP~7 ~ an~ part thereot i
6. To pay all and aingular ths cost~. chaBea aad e~cpensea. includina rea~anaWe Lwryer'~ feea snd coet o! ~
abstracU ot title, incurced or pafd at any Wne by iafd ~+tortaa~ee beca~se aad/or 1n ths rent ot the fWun
~ the pait ot t?a satd ltortgagor to dulY. P~mPUY ~~7 P~~m. ~B0. ~~te, effeet. oompletq,
compl~ ~vlth and aDtde Dy eu?cb aad every the stipulatlau. adreement~. conditbn~ and ooveaai?b of said pmmb-
wr~ note. wd Ws mortgag~s, an~ or either. aad safd ca~stsr c~rge~ aad ea~peeus~ aach aad a~erp. sbdl bs Im-
nnediately dus and papa~le. ~?Detber or not t6ers be notice. doawd. attemPt to ooUect or ~nit panding: aad th~
!Wl amount of aach aAd every wcD paytnaat shall ~ear intKest from tLs dat~ tb~e+~ untll paW at the rate o[
t~a Pa ceatwa p~r aonum: and ali ~aid cwb. cbarie~ aad ~[paoNS ~o lacurr~d oe p~i4 toCst~r wlth sticL in-
tRewt, ~all b~ a~au+~d bp tb~ lfan o[ thi~ a~ort~ap. ;
(Paragraphs 5(a) and 5(b) on following page. ) R
Pa e 2 ~~K 1~ P~CE ~
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