HomeMy WebLinkAbout0967 .
p'i~pVld~ ~W8 8~ that if aaid JKort~a~or e, their l~eira, le~ai
rep~outativea or oaa~~iu alwll po~ unto the ac~d .~1lort~a jee, ita au~ooe~aors. le~d
repretantatives or oiai~nt, the oerta~n pr~~niaaory note , o~ wl~iah the followtn
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~n words and )l~urea i s a true cop y , to wit:
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J ~30.000.00. ~ ~ _ .i ; ~ ~ f~. ; , ~y 8• ^ 1969` . ~
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a~ad aholi perjor~n, comply with and. abide by each and er~ery th,e stipulations,
agree~nents, conditions and covenants of said pmmiasorb rsote and of thia deed,
then t~eis deed and the estate hereby oreated sholi cease and be null and void.
AIIt~ the said JKort~agor s„ for themselves and their hesrs, te~ol
rep~eaantatwes and ossi~ns, hereby d0 covenant and agree :
1. To pay alt and sin~ular the principal and intereat and other aums of ~noney ~
payable bb urtua o~ 8oid p~omiasory note and thss deed, or either, prorriptly on
the da~ya ieapectivei~/ tlu aam~ seuemli~ come due.
t. To pay ali and ain~ular the tbxea, ossesarrwnts, ieviea, liabiiities, obtigatwna
and encu~n.brancea o~ ev6ry nature oa suid deaoribed property each and eu6ry, and
iJ tha aam.e be not promptib poid the said .hfort~a~ee, its su,cceasora, le~oi repre-
sentatiuea or aasi~'na may at uny tzm~ pab the sam.e without uxiirrin~ or a~}'ectsn~
the option to roreclose or any ~ ri~ht hereunder, and every pay~nent go m,ode alwll
bea~ interest 1m~n the date thereo~ at the mte of 7~ per cent. per annurr~.
J. To pa~,ali and sin~ular the cost8, chargea and e~xpenaes, includin~ lawye~':
_ Je~s, ~easonably incurred or paid at any tim,e by said JKort~a~ee, its succeaaors, te~ui
iepreaentatsvea or assi~ns, because o~ the failure on the part o~ the aoid Jlfort~a~o~ $
their heira, le~ai ~epresentatwea or aasi~ns, to perjorni, comply with
and ab~de b~ eaeh and every the atipuiations, agreementa, conditiona and eovenanta
of aoid promiaaory note and t~i:s deed, or either, and eve~y such payment ahait
bear intereat 1ro~n date at the rate o~ 7~ per cent. per annum.
lesa t dollara, in a company or companiea to
be approved '.J~tort¢a~ee, and the policy or polic#es held by and payabtt to
aoid Jlfo~t~suu~ee. it.~ a ors, te~ai rep~esentatwea or ossi~ns, and in tha event any
ium o~ mon~ beeome.a pa under sueh poliey or policies, the .]Ifort~a~ee, it.s
succeaaori, l~~al repreaentatwea or ' , sholt have the option to reae~iua arut appl~
tht aaine o~. aecount o~ the indebtedneas ae~ured or to permit the .iKort~a~o~
to reeesve and uae it, or anb part thereof, Jor ot ea, without thereby w~#vsna
or irripairin~ any equity lien or si~ht under o~ by vir hia ~nort~a~e, a~ ~i1
place and pa~V Jor iuch inauranca or anJ~ part theteof, witho 'vin~ o~ afjectin~
tlu option to joreclois or any rt~kt hereu~r, and each and e~ paynunt
~ g~17"7 ~ 967
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