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HomeMy WebLinkAbout2909and shall duly. promptly and fully perform. discharge, execute, effect, complete, comply wttli and abide by each and every the stipulations. agreements. conditions and covenants of said pmimssory note and o! this mortgage. then this mortgage and the estate hereby created shall cea~ and be null and void. It is understood that each of the words, "note." "mortgagor'' and "mortgagee"_ respectively sad the pron- ouns referring theret0. whether in the singular or plural anywhere in this mortgage. shall be singular if one oily and shall be plural jointly and severally. if more than one. and shall be masculine, feminine and/or neuter. whee~ ever the context so implies or admits. And said Mortgagor for himself and his heirs. legal representatives, successors and assign. hereby coven- ants ana agrees to and with said Mortgagee. his legal representatives. successors and assigns: _- - l. To pay all and singular the principal and interest sad the various and sundry sums of money payable Dy virtue of said promissory note, and this mortgage. each sad every. promptly on tJte days respectively the same severally become due. 2. To pay all and singular the taxes. assessments, levies, 1labiHtles, obligation and lncumbrances of every nature and kind now oa said described property, and/or that hereafter may be imposed. suffered, Placed. levied or assessed thereupon, and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted- ness secured hereby. each sad every. when due and payable according to law. before they_beoome delinquent, sad before any interest attaches or any penalty i9 incurred; and in so far as any th~i!+eoTis-of record the same shall be promptly satisfied and discharged of record and the original offidal doc»sirient (such aa, for instance. the tax receipt or the satisfaction paper officially endorsed or certified) shalt be placed in the hands of said Mortgagee within ten Jaya nezt after payment; sad in the event that say thereof is not so paid, satisfied and discharged. said Mortgagee may at any time pay the same or any part thereof without waiving or affecting any option, Hen, equity or right under or by virtue of this mortgage. and the full amount of each and every such payment shall be immediately due and payable and shall bear interest from the data thereof unW paid at the rata of ten per centum per annum and together with such interest shall be secured by the lien of thL mortgage. s. 1'o plans and ~ntinuously keep on the buildings now or hereafter situate on said land fire and windstorm s~ ~0• 00 ......._., in such com- insurance in the usual standard policy form, in a sum not less than i-----•---•---~•-• .............-...------....... parry or companies as may be approved by said Mortgagee: and all such inurance policies on any of said build- ings. any interest therein or part thereof. in the aggregate sum aforesaid or in excess thereof. shall contain the usual standard mortgagee clause making the loss under said policies, each and every. payable to said Mortga- gee as his interest may appear. and each and every such policy shall be Promptly delivered to and held by said Mortgagee; and. not less than ten days in advance of the expiration of each policy. to deliver to said Mortgagee a renewal thereof, together with a receipt for the premium of such renewal' and there shall be no such insur- ance placed on any of said buildings, any interest therein or part thereof. unless in the form and with the loos payable as aforesaid; and in the event any sum o[ money becomes payable under ouch policy or policies said Mortgagee shall have the option to receive and apply the same on account o! the indebtedness secured hereby or to permit said Mortgagor to receive and use it or any part thereof for other purposes without thereby waiving or impairing any equity, Hen or right under or by virtue o! this mortgage: and in the event said Mortgagor shall for any reason tail to keep the said premises so insured, of fall to deliver promptly any of said policies of insurance to said Mortgagee, or fail promptly to pay fully any premium therefor, or in any respect fail to per- form, discharge, execute, effect. complete, comply with and abide by this covenant. or any part hereof, said Mortg• ~uity or rpight undersoriby virtue of this mortgage, andethe tuUtap~ount of eagch and every such payment shaTMU be immediately due and payable and shall bear interest from the date thereof until paid at the rate of ten per cxntum per annum and together with such tnterest shall be secured by the Hen of this mortgage. 4. To permit. commit or softer no waste. impairment or deterioration of said property or any part thereof Q To pay all and singular the costs, charges and expenses. including reasonable lawyer's fees and cost of abstracts of title, incurred or paid at any time by said Mortgagee because and/or in the event of the faUure oil the part of the add Mortgagor to duly, Promptly and fully perform, discharge. execute, effect.. complete, comply witb and abide by each and every the stipulations, agreements, conditions ash ~ a ery. shall ~e ~ gory note. and this mortgage, any or either, and said costs, charges and expenses, mediately due sad payable, whether or not there be notice. demand, attempt to collect or suit pending: and the fuH amount of each sad every such payment shill bear interest from the date thereof ua ~pd~dra~~e~ ten per centum per annum: and aH add cosh, charges and expenses so incurred or paid. terest, ahaH bs secured by the Hen of this mortgage. aooK179 ~E290?