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and shall perfona, canply with and abide by each and every the '
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stipulatians, agreeaaents, conditions and covenante of said praaissory .
note and of this deed, then this deed and the estate hereby created
shall cease and be null and void.
AND the said Mortgaqors, for themaelves, their euccesaora,
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heirs and assigns, be=eby covenant and agrees
l. To pay all and singular the principal and interest and
other sums of money payable by virtue of said promiasory note and this
deed, or either, promptly on the daya respectively the same severally
come due. .
2. To pay all and si~gular the taxes, assessments, levies,
liabilities, obligations and encumbrances of every nature on said
described property each and every, and if the same be not prooaptly paid
the said Mortgagee may at any time pay the same without waiving or
affecting the option to foreclose or any right hereunder, and every
payment so ~nade shall bear ~interest from the date thereof at the rate
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of 7'~ per cent per annum.
3. To pay all and singular the costs, charges and expenses,
including lawyer's fees, reasonably incurred or paid at any time by
said Mortqagee because of the failure on the part of the said Mortgagore
! to perform, comply with and abide by each and every the stipulations.
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~ conditions and covenants of said promisaory note and this deed, or
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~ either, and every such payment shall bear interest from date at the
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` rate of 7~ per cent per annwa.
4. To keep the buildings now or hereafter on said land
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insured in a sum not less than $20,000.00, in a canpany or companies _
to be approved by said Mortgagee, and the policy or policiea held ~
- by and payable to said Mortgagee, and in the event any swn of money
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~ becames payable under such policy or policies, the Mortgagee shall
~ have the aption to receive and apply the same on account of the
~ indebtedness hereb secured or to permit the Mortgagors to receive
~ y .
~ and use it, or any part thereof, for other purposea, without thereby
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waiving or impairing any equity lien or right under or by virtue of
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