HomeMy WebLinkAbout0178 and shall perform, comply with and abide by each and every the
stipulations, agreements, conditions and covenants of said prom-
issory note and of this deed, then this deed and the esta~e here-
by created shall cease and be null and void.
AND the said Mortgagors hereby covenant and agree: ~
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1. To pay all and singular the taxes, levies, liabilities, '
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obliga~ions, and encumbrances of every nature heretofore imposed, `
placed, levied and assessed on said described property, each and
every, and if the sam.e be not promptly paid the said Mortgagee ~
may at any t~me pay the same without waiving or affecting the
option to foreclose or any right hereunder, and the amount of every
payment so made shall bear interest from the date thereof at the ;
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rate which said note bears and shall be secured by the lien of
this mor~gage.
3. To pay all and singutar the costs, charges and expenses, ~
including lawyer~s fees; reasonauly incurred ~r paid at ary t~me }
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by said Mort~agee, because of the failure on the part of the said
Mortgagors to perform, comply with and abide by each and every the
stipulations, agreements, conditions and covenants of said note
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and this deed, or either, and the amount of every such payment
shall oear interest from date at ~he rate which said note bears
and sha11 be secLred by ~he lien ~f this mortgage.
4. To keep the buildings now or hereafter on said land
insured against loss hy f ire in a sum not Zess than the amount of
this mor_tgage from time t~ time outstanding and unpaid, and in- ~
sured against loss by windstorrn in a sum not Zess than f ifty per
cent (50%) of the full insurable value of said premises in a com-
pany or companies to be approved by Mortgagee, and the policy or -
policies held by and payable to said Mortgagee, and, in the event ;
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any sum of money becomes payable under such poZicy ~r poZicies, _
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tne Mort~agee sha11 have the option to receive and apply the same ~
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on account of the obligation hereby secured vr to permit the
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