HomeMy WebLinkAbout0717 .
AND the said Mortgagoc s hereby covenant and agree :
i
1. To pay all and singular thc principal and interest and other awns of money pay-
able by virtue of said promissory note and thia ~rcd, or either, procnpdy and on th~ days
respectivcly the samc sev~rally become due.
f
2. To pay all and singular the taxes, levies, liabilities, obligations, and encumbrances
of every nature heretofore or hereafter imposcd, placed, levied and asaesscd on said des-
cribed property, each and ev~ry, ~tnd if the same be not prompdy paid the said Morcgagce
may at any time pay the same without waiving or affecting thc option to foreclose or any
right hereunder, and the amount of every payment so made shall bcar interest from the date
thereof at the rate which said note bears and shall be secured ~i'y the lien of this mortgag~; j
the MortgagorS agree to furnish to the Mortgagee prior to April of each year rcceipts i
for all ad valorem taxes paid by the Mortgagocs . ,
3. To pay all and singular the cQsts, charges and ezpenses, including lawycr's fces,
reasonably incurrad or paid at any ti=ne by said Mortgagee because of the failure on the
~ part of the said Mortgagor to perfortn, comply with and abide by each arid every the stip-
ulations, agreements, condicions and covenants of said note and this deed, or ~~ithcr, and the
amount of every such payment shall bear interest from date at the rate which said not~ bears
and shall be securcd by tha lien of this,tnortgage.
4. To keep the buildings now or hereafter on said land insured against loss by fire in
a sum not less than th~ amount of this mortgage f rom time to time outstanding and unpaid,
and insured against loss by windstorm in a sum not less than fifty per cent ( S 0`16 ) s~f the
f ull insurable value of said premises in a company or companies to be approved by Mort- '
gagee , and the policy or policies held by and payable to said Mortgagee , and, in the
~ event any sum of money becomes payable under such policy or policies, the Mortgagee
; shall have the optior? to receive and apply tbe same on account of the ob4gation hereby
` secured or to pcrmit the Mortgagor to receivc and use it, or any part ther~of, for
~ other purposes, without thereby waiving or impairing any equity, lien, or right under or
~ by virtue of this mortgage, and may placc and pay for such insurance or any part thereof
~ without waiving or affecring the option to foreclose or any right hereunder, and the
~ amount of each and every such paymcnt shaQ bcar interest from date at the rate which
a said note bears and ahall be secured by th~ lien of thia mortgage.
~
~ 5. To permit, commit or suffer no waste, impairment or deterioration of said
~ propecry or any pact thereof.
~
~ 6. To perform, comply with and abide by each and every the atipulations, agree-
~ ments, conditions and covenants in said promissory not~ and in this deed set forth.
_ _ . _ _ _ . - _
~
~ -
~ 7. If any of said sums of money herein referred to be not prompdy and fully paid
- within thirty days next after the same severally become due and payable, or if each and
- , ents;-- coaditions an~ove~
this deed, or eith~r, are not duly pcrformed, complicd with and abided by, the said
` aggregate aum mentioned in said note then remaining unpaid, with accrued interest and
all other sums secured hereby shall become"due and payable forthwith or thercafter at th~ ~
option of the Mortgage~ , as fuUy and completely as if the said sums were originally ~
stipulated to be paid on such day, anything in said promissory note or herein to thc j
°n contrary notwithstanding.
~ OR
,
~ . BooK 1~3 Pa~E ~~.7
~r .
_ -
v ~.._J~,~~ . . _ _ _ ~ . ~ 3 _