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HomeMy WebLinkAbout2293 AND the said Mortgagor hereby covenant and agr~e : 3 , ~ 1. To pay all and singular the principal and interest and other sums of money pay- ~ able by virtue of said promissory note and this deed, or~ither, promptly and on the days ? respectively the same severally becom~ due. ~ _ i 2. To pay all and singular thc taxes, le~~ies, liabiGties, obligations, and encumbrances ~ of every nature heretofore or hereafter imposed, placed, levied or assessed on said describ- ~ ed property for which a Iien shall exist superior in ciignity to the lien of this mortgage, each ~ and every, and if the same be not promptly paid the said Mortgagee may at any time pay the same without waiving or affeccing the option to foreclose or any right hereunder, and . the amount of evety payment so made shall bear interest from thc date thereof at th~ rate which said note bears and shall be secured by the lien of this mortgage; the Mortgagor agree to furnish to the Mortgagee prior to April of each year receipts for aU ad valorem taxes paid by the Mortgagor . 3. To pay all and singular the costs, charges and expenses, including lawye~'s fees, ° reasonably incurred or paid at any time by said Mortgagee because of the failure on the ' part of the said Mortgagor to perform, comply with and abide by each and every the i i stipulations, agreements, conditions and covenants of said note and this deed, or either, and the amount of every such payment shall bear interest from date at the rate which said note bears and shall be secured by the lien of this mortgage. 4. To keep the buildings now or hereafter on said land insured against loss by fire in a sum not less than the amount of this mortgage from time to time outstanding and un- paid, or the fuU insurable value of such buildings, whichever is lesser, and insured against ; loss by Mrindstorm in such amount that the insured will not be a co-insurer under the terms , ! of the golicy or policies, in a company or companies approved by Mortgagee , and the ~ i policy or policies held by and payable to said Mortgagee ; in the event any sum of money ; E becomes payable under such policy or policies, the Mortgagee shall have the option to ; i receive and apply the same on account of the obligation hereby secured or to pcrmit the ; ~ Mortgagor to receive and use it, or any part thereof, for other purposes, without thereby : q waiving or impairing any equity, licn, or right under or by virtue of this mortgage, and may e place and pay for such insurance or any part thereof without waiving or affecting the ~ opaon to foreclose or atiy right hereunder, and the amount of each and every such pay- ~ ~ ment shall bear interest from the date thereof at the rat~ which said note bears and shall t ~ : ~ be secured by the lien of this mortgage. ~ I ~ i ~ 5. To permit, commit or suffer no waste, impairment or deterioration of said ~ ~ property or any part thereof. ~ ~ ~ 6. To perform, comply with and abide by each and every the stipulations, agree- t ~ ~ ~ ments, conditions and covenants in said promissory note and in this deed set forth. ~ ~ 7. If any of said sums of money herein referred to be not promptly and fully paid ~ within thirty days next after.the same severally become due and payable, or if default in ~ any other stipulation, agreement, condition or covenant of said promissory note and this ~ deed, or either, shall remain uncorrected for thirty days after such default occurs, then the said aggregate sum mentioned in said note then remaining unpaid, with accrued ;a ~ interest and all other sums secured hereby shall become due and payable forthwith or there- ~ after at the option of the Mortgagee , as fully and completely as if che said sums were ~ originally stipulated to be paid on such day, anything in said promissory note or herein - to the contrary notwithstanding. ~y a; = eoo~ 191 ~8g _ : - _ ~ _ , ~-~r _ ~ _ _ _ .