HomeMy WebLinkAbout0024 1. To pay all axd iin~ulur tJ~e prinaipal arid intereat and otker ~ of money payabls bf?
virtus oJ said promiaaory ttote- attd t11w dsed. or eithar, P~'~Ptly on tlle days rstpeativeiy tk~
aame aeverally become dw.
t. To pay all and ai»yxlar tl~s taxsi, a~aesan~enti. lavisa, Ziab~itisi, oblipatio~, a~d ~ou+n-
braneea oJ every natxre ori said deacribed property. cach ard every, axd i~ t.ks aa~ne ba not Pr'~P~
ly paid the iaid llLortpuyss.~., +~_~•i*~~ ~yal s~pl'stentctivet or astiy~a, ~a!? a# aagi
tims pay the sama without waivut~ or a11~~0 ths optio~t to foree~oss or any riql~t Aere~a~d~r,
and eva*Y P~Ym~ io ~nads al~aA bear interett ~rom ths dats tllereo~ at tha rnts of
1~.~~+'
cent. per a~wn.
J. To pay aU and rinyubr tks coat~, cllarpea a»d ezpe„ae+, i»eludix~ lawyar'i ~sei, teaaow-
ably incurred or paid at a~ty ti»ae by aaid l![w~tyayecs-., iepai represe~tativea
its ~
or aaaiQ~a, beeauae of tlk~ f~urs oat tlle part of ths said Mortpapor_., ,~Od
representaKvea or a~ui~~s to per~or~r+, ~f'~Y ~uitla and abide by sach and every tha stip~iatio~t~,
agreementa, cor~ditiona and covena~nta oJ aaid promiiaory note and thia deed, or eitker. awd
every auch payment iba~1 bear intsreat from dats at tks rats of_.a,.0.. per ee~nt. pe~' ~
To keep the bu~dixyi now or 1lerea~ter wt aaid iand inaured iri a asa~n not lesa t~ax
full insureable value x~ ~ a corxpany or co~xpa,niea
to be approved by aaid Mortgapee~., and tke poiicy or policiea Ae~d by a~d PaYable to said Mort-
9a9ee,.., ~''i, ~OaI raprearnta~tivea or aaai~a, a~d iri tbe svent -
any aum of money beeomea payabls w~der aue~ poiiey or pdicie:, t~ Mort~a0~.
l~i, ~sQa1 reprsaentatives or a~aiyna, iJYali llave tke aptioa to reeeive a~d
apply the sarne on accouxt of tl~ irdebtsdneu keraby aeeured ot~ to per»~it the )[ort~af?or to
reeeive and uae it or any part tl~ereof for otlY~er pserposea. +oitl+out tllersby waiviny or i~pairi~
~Y ~4~Y, Iian or riQht xnder or by virt~ o~ f.hia mortQaDs, and may plaee and Pay 1or sw,eh
inaurnnce or any part t,hereof uritho~t wai»inp or afleetiny th~ option to ~oreeloae or axy ripl~t
Aere~asdar, and eaeh a~d every axek payrxarit sltaii b~ar intereat from dat~ at the rate o1-~4-
~
per cent. per anx~ern.
5. To permit, eommit or suf
f
er rio toaate, i~npairment or det~srioratioft of said proparty. or any
E part thareo~.
6. To perforna, eomply ~evith, wtd abide by eack and svery tke s~ipulationa, a9rs~e~r. co~-
ditiona and eovena»ta in aaid promiuory ~ote.--, a~nd in tkis deed sst Jw~Pal.
9. If any of aaid azc~u of Mo»~? lrerei~n rsfsrred to be not prompuv a~t l+~v
10 ,~.ya next aft~r t~s sama senaraAy bseoms dus a~nd payable, or if eack a~d svery t~
atipulationa, aQreementa, conditio~s and eove~tta oJ ~aid promiaaory not~ and tl~ia d~ed, or
eitl~er, are not fu11y per~orm~d, ce~apiied ~oitk and abided by, ~~~0*e0~te a~ai? ~entioxad
iri aaid promiaaory note shaA bseo~ne due a~d payabis fortkwitk or tlureafter at tlw optiow of
t.he MortQayaa-, ~*t, Ispai representativea or aaiiynt, a+ 1+~Y ~~P~Y
aa if tke aaid ayprs~at,s siaR o~~'ventv Thousand Nine Hundred Ttiventv-Six a„~,~, ~ny
~ or~i~rwily atipxlated to be paid on aueh daY, wq?tkixy ix aaid promiaaory note._ or kereix to f~s
contra notwetl~tta„di~.
~ rU
~
IN WITNESS WSEREOF. fhe aaid ~[ort~ayor,_, has its
~
hand nttd aEa~~he day ~ittd firit above lorittet~. . a•~
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IdPal Ranch D~evelonment C ' •
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%%i~ I,wr,~„~~~,~ p.~pand by:
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