HomeMy WebLinkAbout0549 d~~il[m thc said Mortgagor hereby covenants and a~•ees:
1. To pay all and singular the principal and interest ancl
other sun~ of money payable by virtue of said pl-omissory note and this
deed, or eithei-, promptly on the days respectively the same severally
come due.
2. To pay all and singulai- the ta~ces, assess~~ents, levies,
liabilitizs, obligations and encu~nbrances of every natui•e on said described
property each and every, and if the same be not promptly paid the said
Mortgagee ma}~ at any time pay the same without waiving or affecting the
option to foreclose or any right hereunder and every payment so made shall
bear interest from the date ~the~eof at the rate of 7 per cent per annum.
:3. To pay all and singular the costs, charges and expenses,
including latiyer's fees, reasonably incurred or paid at any time by said
Mortgagee because of the failure on the part of the said Mortgagor to per-
form, comply with and abide by each and every stipulations, conditions and
covenants of said promissory note and this deeci, or either, and every such
payment shall beai- interest from date at the rate of 7 per cent. per annum.
-1. To permit, commit or suffer no waste, impairment, ar
deterioration of said propert}• oi- am~ part thereof.
5. To perform, comply ~vith and abide by each and evei-~~
. the stipularions, agreements, conditions, an~ covenants in said promissory
note and in this deed set foi-th.
6. If any of the said sums of monev herein referred to be
not promptly and #ully paid within- - - - - - -1 S - - - - - -days next after the same ,
severalh~ become due and payable, or if each and every the stipulations, `
agreements, conditions and covenants of said promissory note and this deed
or either, are not duly performed, complied with and abided . by, the said
aggrc~ate sum mentioned in said promissory note shall become due and pay-
able forthwith or thereafter at the option of the Mortgagee
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7. The Mortgagor shall have the right to alter or remodel
the building upon the above described property or to remove or demotish
the same; provided however, that should mortgagor demolish or remove
said building, a new building must be constructed on the propert}~ having
an actual construction cost of not less than SIS, 000. 00, which new build-
, ing would autamatically be encumbereci by this mortgage.
I~A 1~H']C~i~~~ QA~~fli~~~ , the said pam~
of the first part has caused these presents to
~~e signed in its name by its President, and
its corpoi-ate seal to be affixed, attested b~~ its
Secretary on the day and vear abo~~e written.
i Atte st: ~ ~
ecretary ANNETTE ENTERPRISES, INC.
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fi~~~-~"~ . ~l~'C~L.~~ ~ E~C ~t ' -
resi ent
SIGNEI~, SEALEn S DEI.IVERED
IN OL?R PRESENCE: . ,
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COUNTY OI~ ST. I.UCI L-'
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