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HomeMy WebLinkAbout2387 AND the said Mortgagor hereby covenants and agree a: 1. To pay alt and singular the principal and interest and other aums of moncy pay- abk by virtue of said promiasory note and thia deed, or either, pro:npdy and on th~ days rtspccdvely the aame aeverally become due. 2. To pay all and singular the taxes, le~,ies, liabilides, obligationa, and encumbrancca ~ of every nacure hcretofon or hereafter imposed, placed, levied or ass~ssed on aaid describ- • ~ ed property for which a lien shall exist superior in dignity to the lien of this mortgage, each ; and every, and if th~ aame be not prompdy paid the said Mortgagee may at any time pay ' the aame without waiving or a$ccting the option to foreclose or any right hereundcr, and ~ the amount of every payment so made shall bear intcrest from th~ date thereof at the rate which said note bears and shall be secured by the lien of this mortgage; the Mortgagor agcrc to furnish to the Mortgagee prior to April of each year receipts for all ad valorem tazes paid by the Mortgagor . 3. To pay all and aingular thc costs, charges and expenses, including lawyer's fees, reasonably incurred or paid at any time by said Mortgagee because of th~ failure on the part of the said Morcgagor to perform, comply with and abide by each and every the sdpulations, agreements, condidons and covenants of said note and this dced, or either, and the amount of every such payment shall bear interest from date at the rate which said ~ note bcars and shall be securcd by the 4en of this mortgage. 4. To keep the buildings now or hereafter on said land insured against loss by fire in a sum not less than the amount of this mortgage from time to time outstanding and un- paid, or the full insurable value of such buildings, whichever is lesser, and insured against loss by windstorm in such amount that the insured will not be a ca-insurer under the terms of the policy or policies, in a company or companies approved by Mortgagce , and the po4cy or policies held by and payable to said Mortgagee ; in the event any sum of money becomes payable under such policy or policies, the Mortgagee shall have the option to receive and apply the sam~ on account of the obligation hereby secured or to permit the ' Mortgagor to receive and use it, or any part thereof, for other pucposes, without thereby ~ waiving or unpairing any equity, 4en, or right under or by virtue of this mortgage, and may ~ place and pay for such insurance or any part thereof without waiving or affecting the ~ option to foreclos~ or any right hereunder, and the amount of each and every such pay- ~ mcnt shall bear interest from the date thereof at the rate which said note bears and shall s be secured by the lien of thia mortgage. ~ ~ S. To permit, coaunit or suffer no wasu, impairment or dctcrioradon of said ~ property or any part thereof. ~ ~ 6. To perform, comp(y with and abidc by each and every the stipulations, agree- ~ ments, condirions and covenants in said promissory note and in this deed set forth. ~ ~ 7. If any of said sums of money herein refernd to be not prompdy and fully paid " ~ ~ within thirty days next after.the same severally become due and payable, or if default in F any other sdpulation, agreement, condicion or covenant of said promissory nou and this ~ ; ~ dccd, or either, shall remain uncorncted for thirty days after such default occurs, then ~ the said aggregate aum mentioned in said note then remaining unpud, with accrued ~ interest and all other sums aecurcd hereby shall becoine due and payable forthwith or there- ~ aftcr at the option of the Morcgagce , as fully and completely as if the aaid aums wen ~ originaUy stipulated to be pud on such day, anything in said pro:nissory note or herein ~ ~ to the contrary notwithsunding. ~ ~ ~ ~ ~ ~ ~ ~ ~178 ~~38~ ~ ~ ~ ~ ° ~ ' - . - "r _