HomeMy WebLinkAbout1172 ~raai~rd ~I~a~~a. that if said .iKortgca,~'or shall pa.~ unto the said .1Kort~2~ee
the certain pro»Lissory note, of which the following in word,s and ~tgicres is a trcce copy,
to wit; -
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: . - - - - . _ . .--....__.__hom this date,
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j If any default cball be made iu the pasment ef any installment of principal or interest, and such
defanlt continnes for dayr, the v~bole principal sum then remaining nnpnid~ to~ether tivith interest
shall, at the option of t6e hotder hereof. become due and paveble on demand.
' The makers~ endorsers and guarantors of this note or other parties thereto~ and each of them hereby
~ severally ~aire demand~ notice anc] prntest.
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anci shall perfoim, comply with and abide by e~eh and every the stipulations,
m~reem,ents, conditian.Y and covenacnts of said promissory note dnd of this deed, then
th,is deed and the estate hereby created shatl cease and be null and void.
.~I1~ the said .hfort~agor hereby covenants and dg`rees:
.1. To pay a1l and sin~ular the principal a~ul interest anci oLher sums vf rrwneJ
payable bJ virtue of said p~omissori,J note and this deed, or either, promptlJ vn the
days respectively the same severally come due. ~
Q. To pay all a~rd sin~sular the taxes, assessments, levies, liabilities, obli~ations
and encumbrances of every nature on said described property each ctnd every, and
if the sctm,e be not prorraptly p~zid the sa~id JKort~ac~ee m,ciy c~t acny time pa,y the same
without waivin,g or c~ffectin~ the option to foreclose or any ri~,sht hereund~r, and every
payment so rnade shdtt bectr interest from the da,te thereof at the ra.te of ten
per cent, per dnnum.
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To pay all and sin~ular the costs, chargPw' and expenses. i~tcluding lawyer's
fees, rea~sorur,b~tj incurred or p~xid ac~ any time by said .iKort~Yigee because of the facilure
on the pacrt of t)ae said .M~ort~'cc~or to perform, comply uzth and ctbide by eaeh and
every the stipulations, cc~reement,g, eonditions and eovenants of said prorrLissory note
and t7iis deed, or either, and every such payment sha,ll bear interest from date cr,t the
ncate of ten per cent. per annum.
To keep the buildin~ noiv or hereafter on said land insured in a siena not
less than highest insurable value _
Doltars, in a company or companies to
be approved by sa,id .htort~'m~ee, and ~iie poliey or policies held by dnd p~yable to sccid
.1Kort~a~see, and in tJr~e event any sum of manoy hecomes payable under such policr~ or
policies, the .iKortg'd~ee slutll have the option to receiae and ccpplrj the sacme vn account
of the indebtedness hereby secured or ~ to permit the .1Kort~sca~or to receive and use it, or
ctny part thereof, for ot.h.er purpo8e.s, without thereby waivin~ or impa,irin~ any equity
lien or ri~ht under or by zrirtue of this mortga~e, and rn,ay pla,ce dnd pcay for Such
~ insurance or dny part thereof, without wccivir~g or a~'ecting the option to foreclose or
i any ri~ht hereunder, and each and ever-y Such p+a,ym,ent Sha,ll beccr interest" frorn date
i ctt the ra,te of ten per een~, per dnnum.
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