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HomeMy WebLinkAbout0622 _ i t and shall duly. promptly and fully perform, discharge. execute, efEect, complete, comply with and sbide by each and every the stipulations, agreementa, conditions and covenanis of said prom~ssory note and of thie morigage. then this mortgage and the estate hereby created shall cease and be aull and void. It ia under~tood that e8ch of the words, "note," "mortgagoi" and "mottgagee" reapectively and the nrnn- ouns referring thereto, whether in the singular or plural anywhere in t.hia mortgage, ahall be singular if one only and ahall be plural joinUy and severaUy, if more than one, and shall be masculine, feminine and/or neuter. wher- ever the oontext ao implies or admita. And said biortgagor for himeelf and his heira, legsl representativea, successora and assigne. hereby coven- i ants ana agrees to and with aaid Mortgagee. hia legal repreaentatives, succe.9sors snd assign~: ~ 1. To pay all and singular the princ[pal and interest and the varioue and auadry aums oi money payable b~ ? virtue of aaid promiasory note. and this mortgage, each and every~ prompUy on the daya reapectively the same ~ eeverally become due. ~ 2. To pay all and singular the taxes, aseessments, levieq, liabilities, obligations and incumbrances ot every nature and kind now on 9aid de9cribed property, and/or that hereafter may be impoeed, auffered, placed, levied f or assesaed thereupon, and/or ihat hereafter may be levied or assessed upon this mortgage and/or the indebted- ; ness secured hereby, each an~ e~ery, when due and payable according to lew, be[ore they become delinquent, y and before any interest attaches or any penalty is incurred: and in so far e~ any thereof ia oi record the sarae shall be pcvmptly satisfied and discharged ot record and the original official documeat (auch as, tor instance, ~ :he tax receipt or the satistaction paper officially endoraed or certifiedl ahall be placed in the hand~ of said z Mortgagee within Len days next after payment; and in the event that any thereof is not so paid, satisfied and discharged, said Mortgagee may at any time pay the same or any part thereot without waiving or affecting ~ any opti~n, lien, equity or right unde.r or by ~•irtue of this mortgage, and the full amount of each and every ~ such payment ahall be immediately due and payabie and shall bear interest from the date thereof until paid ~ at the rate oi ten per centum per annum and together v~zth such interest ahall be aecured by the lien of thls mortgage. ~ 3. To place and contiauously keep on the buildinga now or hereafter eituate on said land ftre and dstorm va ~ue ~ insurance in the usual standard policy torm, i~ a s,m not ~e~ cn~ s_.hiqhest___insurable~in such com- ~ pany or comp^nies as may be approved by said Mortgagee; and all such insurance policiea on any of eaid build- ~ inga, any interest therein or part thereof, in the aggregate sum atoresaid or in excess thereot, ahall contain the ~ usual standard mortgagee clause making the loss ur.der said policiea, each and every, payable to aaid Mortga- gee as hia interest may appear, and each and every such policy ahall be promptly delivered to and held by aaid I~iortgagee; and, not less than ten day~ in ad~~ance of the eacpiration of each policy, to deHver to said Mortgagee a renewal thereof, together with a receipt for the premium of such rrnewal; and there shall be no such insur- ~ ance placed on any of said buildinga, any interest therein or part thereof, unless in the form and with the loss _ payable as aforesaid; and in the event any aum of money becomea payable under such policy or policies said Mortgagee shall have the option to receive and apply the same on account of the indebtedneas secured hernby or ~ Lo permit said Mortgagor to recefve and u.Re it or any part thereot for other purposes without thereby waiving - or impairing any equity, lien or right under or by virtue of this mortgage: and in the event said Mortgagor shall - for any reaso~ fa'sl to keep the said premi~es so insumd, or fall to deliver prompUy sny of asld policies of insuranre to said 1ltortgagee, or fall prompUy to pay fully any premium therefor, or in any respect fail to per- form, discharge, execute, effect, complete, comply w-ith and abide by this covenant, or any part hereoi. aaid Mortg- ± agee may place and pay for such insurance or any part thertof without waiving or affectlng any option, lien, equity or right under or by virtue of thia mortgage, and the full aq?ount of each and every auch psyment ahall be immediately due end payable and ahall bear Snterest from the date thereot unW paid at the rate ot ten per ; centum per annum and together with such interest shall be eecured by the lien of thU mortgage. 4. To pernnlt, commit or autfer no wa,~te, tmpairment or deterioratlon oi eald propnrty or anq part Lhereot• _ 6. 1b pay all and singulsr the coats, chargea and expensea, including reaaonable lawyer's feea snd coc~t ot abetracts of tiUe, incurred or pald at any ttme by sald Mortgagee becsuse snd/or in the event of the fallurs on the part ot the said Mortgagos to duly, promptly and fully perform, dischar8e, execute. eifect, complete. oomply with and abide by eacb and every the atipulatlons, agreemeats, condltfons and covenanL oi eaid pmmis- sory note. and this mortgage, any or either. snd eald co~ts, charges and expenses. each aad everq. ~hall be im- mediately dus aad payable, whether or not there be notice. demand. sttempt to oolkct or suft pencling: aad ths '`•rt full amount of each and every such payment shall bear iatereat from the date thertof until patd at the rate o! - ten per centum per ~nnuan• and all satd oosts, charges aad ezpea~e~ w incurt+ed or paid, Wgether writh suc2i in- - terqt, ~ba11 be iecured by the llea of tAfa mortgage. ~V ~ - g~K~~ P~ szz u3 _ " . 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