HomeMy WebLinkAbout0163 ~rpUt~lp~ Mj1U~i1~~. that if saial J~fort~a~or slu:ll pay :i»to the saicl .JKort~a~see
the certain pronzissory note, ut' w/~iclc the follou~in.g in wumds and f~~'ures is a trice cupy,
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an~l shall perjo~nt, conrplJ ic~ith and abicle bJ e~ela a~rd eLerJ the stiptclations,
cL~'reements, conditions and covenants of sdid promissory note and of this deed, then
this deed and tli,e estate herebJ created shall cease and be null and voial.
,~tt~1 the said .hfortga.gor hereby covena~nts and cz~srees:
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~ .1. To pay all anc~ sin~ular the prin.cipal and interPSt and othPr sums oj money
payable bJ virtue nj sc~id prn~n.issnrJ note an~l tliis ~lee~l~ or either, pronrptlJ ~~n the
daJs respeetively the sa~rte severatly conte dree.
Q. To pay all und st»ar~lar the taxes, assess~»en.ts, let~i.PS, liahilities, ~?tili6«tions
~uxd encumbrances oj cverJ nature on saul dc~sc~ibed propertJ ear~h and every, anci
if the same be not prnrrcptly paid the sa,id .Mortgagee may at any time pa.y the same
without waivin~ or Q~ectin~ the option to foreclose or any ri~'ht hereunder, and every
pcayment so muca~e shall bear interest from the date thereof at the rate of
per cent. per dnnum.
To pay all and sin~ular the costs, CIL(1T~OQ a»d expenses. inclruiing lawJer's
fees, rea,sonably ineurred or pccid at any time by said JK'ort~agee beedtcse of the facilure
on the pcart of the said Mortgcagor to perform, eo~nply uzth a~ad acbide by each and
eaery the stipulati,ons, cc~reements, conditions and eovenants of said prurr~issory note
and this deed or either, ccnd every such payrnent sh,all becar interest from dctte at the
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f 7 3~4 per cent. per annum.
,
To keep the building now or hereafter on. saicl land i»sured in a s:~»i. not
l ess t han . S IX THOUSAND F IVE HUNDRED AND
00/100 ($6, 500.00) ~------------------Dollars, in a company or companies to
b~ apprnved by sa,id Mortgci~ee, and ~he poliey or poli,cies held by and paycLble to said
.Mort~a~ee, and i.n the event any sur?c of money becomes payable under sueh policy or
poli,eies, the Jlfortgd~ee shall have the optwn to receive and ctpply the sarrce on aecounf
of the indebtedness hereby seeured or to permit the .1Kort~d~¢or to receiae and use it, or
any part thereof, for other purposes, wilhout thereby waiving or impairin~ any equity
lien or right under or by airtue of this mortga~'e, and »uty pla,ee acnd ~rxty for sueh
insurance or ctny pcLrt thereof, without waivtn~ or afJ`'eetin~ the opti,vn to foreclose or
any ri~sht hereunder, and each and every sueh pcaym.ent shall becir interest fror,a date
ctt the rate of 7 3/4 per eent. per annum.
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