HomeMy WebLinkAbout0850 , . '
1. To pay ull and singular the principat anJ interest and other sums of money payable by virtuc of said 1?romiseory not~
and such further sum or su?ns oi money, if any~ as the said party of the second part may ad~ance to the partias of the
first part pnomptly on the days respectively the sanie severally become due.
2. To pay all and Fingular the taxes. assessments. levies. liabilitirs~ obligations and eucumb~ances of every nature on
~~id described properties, and if the same be not promptly paid the said party of the second part, its auccessora and assigna
may at any time pay the same without waiving or affecting t he option ti foreclose or any right hereunder, and every pay-
nient so made shall bcar interest from the date hereof at the rate of percent. per annum.
3. To pay all and singular the costs. charges and expenses. including attorney's fees, reasonably incurrcri or paid at any
time by said patty of the second part~ ita successors, legal repreacnteti~es or assigns, because of the failure on thc part of the said
~,art i~8 of the first part~~eir _ successors, legal representatives or assigns, to perform, comply v?ith and abide by each
and everp stipulation~ agreement, condition and covenant of sa id prnmissory note and this deed~ or either, and every such pay
ment shall bear interest from date at the rste ofl~.- percent, per annum.
4. To permit, counmit, or suifer no waste. impairment or deterioration of said property or any part thereof.
5. To perform, comply with And abide by each and eve ry the atipulations, agreetr~nts. rnnditions and covenants in
said promissory nute and in this deed set forth.
6. If an~ of said sums of money herein referred to be not promptly and fully paid within 30 days next after the
sarne severally become due and payabte, or if each and every the stipulations. agreements, conditions and covenants of said
promissory note and this deed, or either~ are not dnly performed, complied with and abided by, the said aggregate sum men-
tioned in said promissory note. shall become due anil payable forthwith. at the option of the party of the second part, its
successors, legal representatives or assigns~ as fully and ccmpletely as ii the said aggregate sum of .
or the advances heretofore referred to was originally stipulated to be paid on such day~ anything in said promissory note or
~iotes later to be executed and secured hereby, or herein, to the contrary notwithstanding.
To keep the buildings now or hereafter on said lands insured in the smm ~ot less than T~enty Thousand & No / 1
dollara in a rnmpany or companies to be approved by the said party of the second part, its auccessors, legal representatives or
assigns, and in the event any sum of money becomes payable under such poliey or policies, the said party of the second part~
its snaessors or assigns, shall have the option to receive and apply the same on account of the indebtedness hereby secured
or to permit the parties of the first part to receive and use it, or sny part thereof, for other purposes, a~thout thereby waiv-
ing or impairing any equity lien or right under or by virtue of this mortgage and may place and pay for such insurance or
any part thereof without wai~-ing o~ affecting the option to foreclose or any right hereunder and each and every such payment
shall bear interest at the rate of7.~- percent per annum irom date.
8. In the event it becomes necessary to foreclose this mortgage, parties of the first part agree to the appointment of a
; receiver, to rnnserve the rents and profits securing from or dericed from the above described property.
I •
~
E!
f
~
~
~
~
~ IN W[TNESS WHEREOF, the said Mortgagor s ~ve hereunto set our hand $ and seal s the
~ day and fear first above v~'itten.
~ , ~ i
~ Signed, sealed and de' ered in the presence of:
(SEAL)
~ •
~ ~C~ - 'Q (SEAL)
_ ~ ~
~
go~~4 85p
~ ; - - - - ' > `
~ ~
~ " ~
~ ~ . _ ~