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any interast payment, or twenty (20) days as to any payment on 4
4
principal, next after the samc severally become due and payable, i'
1
or if each and every sti~lation, agreement, condition and
~
covenant af said nromissory not~ and this deed or either, ;
are not duly performed, complied witli and abided by, the ou~-
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stai~ding sum under said Qromissory note sliall become due and
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payah.le forthwith, or therr.after, at the option of the Mort- ~
gagee, as fully and completely as if said qutstanding sum .
was oriyinally stigulated to be paid on such day, anything in
;
said promissory note ~r here5_n to the contrary notwithstanding.
7. The interest of th e Mortgagee shall at all times
be protected by adequate hazard insurance, and all policies of
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such insurance shall be written to cover the improvements and
on-site materials against such hazards, and in such amounts
dnd in such form, and in such companies as the t~ortgagee may
from time to time require, ar.d all such policies shall be de-
. _ livered to the ldortgagee ~•~ith premiums fu21y paid by the ~
Mortgagor.
8. The I~lortgac~or speci_fically agrees to have any
mPchanic~' liens «hich r.iay be ~iled against the said develop-
ment on said property released or bonded within ten (10) days ~
of the date
of the filing of the same, and receipt by the ;
Mortgagor of notice of such fili~
9. Althouyh the promissory note evidencing the -
indebtedr.ess of the tiortgagor to the T'[ortgaqee, provides that
it sha].1 hear interest from a specific date therein, the
parties herein aqree that said note shall bear inLerest from
the date of each ad~ance and on the surn outstanding from time
to time under thi~ ~.~ortgaqe deed, and it is the intention of
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the parties that under no cii-cumstances shal~ thc itor`gagors ~
he char~?~~ci more than the_hic~hest lawful rate of interest. It ~
- i
t
is, thc~ref~re, ~crrcet: tliat ~~t the tiiii~~ of fi »al settlement, ;
intr.r~st on sa~c~ ir.c:~:t~te~3i~~•s.r; shall bc~ computecl ~~t the hiyhes~
P~IC~t~
~ BOG~ 193 23Q4 ;