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Provided, Always, that if the Mortgaqor (a) shall pay ~
unto the Mortgagee the indebtedness to Mortgaqee in the principal
sum of One Hundred Sixty-two Thousand Dollars ($162,000.00),
as evidenced by that certain promissory note of even date herewith,
executed by Mortgagor and payable to the order of Mortgagee, with
interest and upon the terms as provided therein, the final maturity
date ~f which note and of this mortgage being the day of March,
1972, which note provides that all installments of principal and ~
interest are payable at the office of payee, Fort Worth, Texas, or
are payable at the office of payee, Fort Worth, Texas, or at such
other place as the holder may designate in writing, and that each
maker and endorser agrees to pay all costs of collection, including ~
a reasonable attorney's fee, upon default in the payment of said
note, and that if default be made in the payment of any installment ~
thereunder and that if such default is not made good in accordance ~
with the terms of said note, that the entire principal swn and
accrued interest shall become due and payahle without notice at
the option of the holder thereof,(b) and shall pay all other
indebtedness to Mortgagee, (c) and shall duly, promptly, and fully
perform, discharge, execute, effect, complete, and comply with and.
abide by each and every the stipulations, agreements, conditions,
and covenants of said promissory note and this mortgage, then this
mortgage and the estate hereby created shall cease and be null and
void.
And the Mortgagor further covenants as follows:
1. That the Mortgagor will pay the indebtedness,
as hereinbefore provided.
2. To pay all anci singular the taxes, assessments,
levies, liabilities, obligations and encumbrances of every
nature on said described property each and every, promptly before
same becomes delinquent, and if the same be not promptly paid,
the said Mortgagee, its successdrs and assigns, may at any time
pay the same without waiving or affecting the option to foreclose
or any right hereunder, and every payment so made shall be secured
' by the lien of the mortgage and bear interest as provided by this
' mortgage or the promissory note which this mortgage secures.
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3. That the Mortgagor will permit, commit, or suffer no
waste, impairment, or deterioration of said property or any part
thereof; and in the event of the failure of the Mortgagor to keep
t}~e buildings on said premises and those to be erected on said ;
premises, or improvements thereon, in good repair, the Mortgagee ~
may make such repairs as in its discretion it may deem necessary
for the proper preservation thereof, and the full amount of each
and every such payment shall be immediately due and payable, and
shall be secured by the lien of this mortgage.
~ 4. That the Mortgagor will pay all and singular the
costs, charges and expenses, including reasonable attorney's fees,
and costs of abstracts of title and other title search or expense,
incurred or paid at any time by the Mortgagee because of the
failure on the part of the Mortgagor promptly and fully to perform
~ the agreements and covenants of any of said promissory notes and
~ this mortgage, and said costs, charges, and expenses shall be ;
immediately due and payable and shall be secured by the lien of ;
this mortqage.
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