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HomeMy WebLinkAbout2321 . ! a E i t and shall duly, prompUy and fully pertorm, discharge. execute, effect, complete, comply wiih and abide by each and every the stipulations, agreemenLs, cond~tions and covenants of said prom~saory note and of this mortgage. then this mortgage and the estate hereby created shalt cease and be null ana void. It is underatood that each o! the wonls, "note," "mortgagor" and "mortgagee" respectively and the pron- ~ ouns referring thereto, whether in the singular or plural anywhere in thls mortgage. shall be singular if one only ~ and ahall be plural jointly and severally, if more than one, and shall be masculine, feminine and/or neuter. wher- § ever Lhe context ao implies or admits. And ~aid Mortgagor for himself and his heir~, legal representatives, successors and a9signs, hereby coven- ants ana agrees to and with said Zdortgagee, his legal representaGves, successors and assigna: 1. To pay all snd singular the principal and intereat and the various and aundry suma of money payable by virtue o! said promisaory note, and this mortgage. each and evety. prompUy on the days respectively the sarae eeverally become due. 2. To pay all and singular the taxes, essessments, leviea liabilities, obligations and incumbrances of every nature and kind now on said described prnperty, an~/or that hereafter may be imposed, auffered, placed, levied i or assessed thereupon, andlor that hereafter may be levied or assessed upon this mortgage and/or the indebted- i ness secured hereby, each end every. when due and payable according to law, betore they become delinquent, j and before any interest attaches or any penalty iv incurred; and in so far as any thereoi is of record the same ~ sha11 be prompUy satisfied and discharged of record and the original official document (such aa, lor instance, the tax receipt or the satiafaction paper officially endorsed or certified! shall be placed in the hands of esid Mortgagee within ten days next after paymeni; and in the event that any thereof is not so paid, satisfied and discharged, said 1liortgagee may at any time pay the same or any part thereo[ w'ithout waiving or affecting any option, lien, equity or right under or by ~irtue uf this mortgage, and the full amount ot each and everq such payment shall be immediately due and payabie and shall bear interest from the date thereof until paid at the raie of ten per centum per annum and togethe~ with such interest shall be secured by the lien of this y ~ mortgage. ~ S. To place and continuously keep on the buildin~s now or hereafter situate on said land flre and windstorm insurance in the usual standard policy form, in a sum not less than 1~~- 1n such com- pany or comp^nies as may be approved by said 1?Tortga~ce: and ail such insurance policies on any of said build- ings, any interest therein or part thereof, in the aR~regate aum atoresaid or in excess thereof, shall contain the usual standard mort~agee clause making the loss ur.der said policies, each and every, payable to said Mortga- ~ gee as his interest may appear, and each and e~~ery su~•h policy shall be promptly delivered to and held by said Mortgagee• and, not less than ten days in ad~•ance of the eapirntion of each policy, to deliver to said. btortgagee a renewal ~thereof, to~ether with a receipt for the premium ot 4u~h renewal; and thece ahall be no such insur- ~ ance placed on any of said buildings, any interest therein or part thereof, nnless in the form and with the loss ; ~ payable as atoresaid; and in ihe e~ent any sum of money become~ payable under such pollcy or policies said ~ Mort~agee shall ha~~e the opti~n to receive and apply the same on account ot the indebtednes~ secured hereby or , ~ to permit said Mortgagor to receive and use it or any part thereof tor oiher purpoees without thereby waiving ~ or impairing any equity, lien or riRht under or by virtue of this mortgage; and in the event said Mortgagor shall ~ for any reason fai! to keep the sa3d premises so insurcd, or fail to deliver prompUy any ot said policie~ oi t insurance to said Diortgagee, or fail prompUy to pay fi~lly any premium therefor. or in any r~spect fail to per- y torm, discharge, execute, e[fect, complete, comply with and abide by thia covenant, or any part hereof, said Mortg. < " agee may place and pay for such insurance or anv part thereof without waiving or affecting eny option, lien, ~ ~ equity or right under or by virtue of thia mortgage, anJ the full arpount of each and every auch payment shaII ~ ~ be immediately due and payable and ahall bear interest from the date thereot until paid at the rate of ten per ~ ~ centum per annum and together with auch interest ahall be aecured by the llen ot this mortgage. ~ ~ ~ 4. To perrNt, commit or aufter no aaste. impairment or deterioration of eatd property or anq part thereoi. ? 6. To pay all and aingular the costs, cherges and expenses, including reaaonable lawyer'a tees and cost o! ~ abstracts ot tfUe, incurred or paid at any time by said Mortgagee because and/or in the event of the failurs ~ on the part ot the said Mortgagor to duly, promptly and tully pertorm. dlacharge~ ezecute, effect. complete. ' ~ comply with and abide by each and everq the stlpulaUone. agteements, condiUona and covenenta of eaid promis- ` sory note. and this mortgage, any or efther, and said costs, charges and expenses, each and everq, ehall be im• ~ mediately due and payable, whether or not there be notice, demand, sttempt to collect or suit pending' and ths full amount of each and every such payment ahall bear interest irom the date thereof untll patd at the rate ot ~ ten per centum per annum• and all anld coets, charges and e:peaee~ w incucred or paid. together with auch in- terest, shW bs secured by the llen oi thls mortgage. n ~ ~ ~ gooK 18~ p~ ~3~.8 ` ~ - . _ . - . . . _ - _ _