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HomeMy WebLinkAbout1839 8 i ~ ~ ~ ~ ~ ~ 3 and shall perform, comply with and abide by each and every the atipulations, agreements, conditions and covenants of said promissory note and of this deed. then this deed and the estate hereby created ahall cease and be null and void. Artn the said Mortgagors for themselves and their heirs, legal representativea and assigns, hereby cove- ~ R nant and agree: ~ ~ ~ 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said ; ~ gromissory note and this deed. or either, promptly on the days respectively the same aeverally come ciue. To perform, comply with and abide by each and every the stipulations~ agreementa, conditions and covenanta E in said promissory note and in thie deed set forth. ~ R 2. To pay all and singalar before they become delinquent, the taxes, asaessments, levies, liabilities. ob- ~ ligations and encumbrances of every nature on said described property each and every, and if the same be not promptly paid the said Mortgagees may at any time pay the same without waiving or a~ecting the option to forecloee or any~? right hereunder, and every payment so made shall bear interest from the date ~ thereof at the rate oi per cent per annum. ~ 3. To pay all and singular the costs, charges and expenses, including lawyer's fees, reasonab~y incurred ~ or paid at any time by said biortgagees because of the failure on the pact oi the eaid B~ortgagora to periorm. comply with and abide by each and every the atipulationa, agreementa, conditiona and covenante of eaid ~ promissory note and this deed, or either, and every such payment ehall bear intereat from date thereof ~ at the rate of 7 per cent per annum. ~ ~ 4. To keep the building now or hereafter on said land insured in a sum not less than H ~ Dollars, in a companq or companiea to be approved by said Mortgagees~ and the policy or policies held bq and payable to said Mortgagees, and in the event anq sum of money becomes payable under auch policy or ~ policies, the Mortgagees, ahall have the option to receive and apply the same on account of the indebtedness hereby secured or to permit the Mortgagora to receive and use it, or any part thereof, for other purposea, ~ «•ithout thereby waiving or impairing sny equity lien or right under or by virtue oi thia mortgage, and msy place snd pay for such inaurance or any part thereof without waiving or affecting the option to forecloee or ~ any right hereunder, and each and every such payment shall bear interest from date of payment at the rate of s even per cent per annum. ~ 5. To permit, commit or euBer no waste. impairment or deterioration of r~aid property or any part thereof. ~ BUGK ~O~ PAGE~C e~ : _ ~ . . - ; ,a__ w ~ ~.~e