HomeMy WebLinkAbout1454 and shall duly, promptiy and fully perform, disc2~ae-ge, execuie, etiect, comptetr, compiy tiv~th t?nd abide by ~each
and e~•erp the stipulations, agreements, cvnditions and co~enants of said prom~s~ory noie and of tius mortgage,
Chen this mortgage and the estate hereby rnated shail cease ~~d 1~~ nuil ana vo:d.
It is underetood that each o! the «r.rds. "nute," "mortgagor" snd "mortgagee" resp~cti~~ely and the pron-
ouns referring thereto, whether in the si:igz:iar or plural anywhere in this mortgage, sha)1 be singular 3i one only
and shall be plural jointly and severaily, if morc [lian one, and ahall be masculine, feminine und; or neuter, ~sher-
ever the context so implies or admits.
And said Mortgagor for himsel! and his heirs, legal repres~ntaiives. 9uccessors and assigns, hereby eoven-
ants ana agreee to and with said I+iortgagee, his ingnl reprr•sentatives, successors and assigns:
1. To pay all and aingular the principal an1 fnterest r.nd th~ var'sous and sundry sums of money payable by
vlriue of safd promissory note, and this morigag~, each aa3 every, prompUy on the da}s respectively the s:une
severally become due.
2. To pay all and singular the ca=:es, as~essm2nts, le~•u3, li~bilitiea, obli~ariot~s and incunibrances ot e~~erq
nature and kind now on said descnbed prop.:rty, and/or thal h~:eatter rria}• Ge imposed, suffered. pIaced, levied
or assessed thereupon, and/or that hereafter may he levicd or assecsed upon this marigage and!or the indebted-
t ness secuted hereby, each and ever}-, -.vhen d~ie and paya5:e accorci~ng tu law, before they become delinquent,
` and before any interest attaches or any pet:a!ty is incnrred; ~u;d :n ~o :ar as nn}• thereof is of record.the same
ahall be prompUy satisf~ed and dischar~ed ai record and the original official document (ssch as, for instance,
the tax receipt or the satis[action paper affic;al:y endorsed or certif~e~t1 shali be placed in the hands of said
Mortgagee within ten days next after ~aymcnt; and in Lhe evenc that any thereof is not so pzld, satistied and
dlscbarged, said Mortgagee may at any time pay the samc o* an)• p~rt lhereof «ithout K•airing or affecting
~ any opti~n, Iien, equity or right under or b}• ~•ir:ue of thi~ mort~agc, ancl the full ttmowit of each and every
such payment shall be immediately clu~ and layab;e and shail benr in?r.r~t from the date thereof until paid
at the rate of ten per centurn per anu~=in ,br,r~ E~g~
.ner ~a-~ih such intere3L shall Ur secured by the lier. of thie
mortgage.
To plaCe and continuously krc~ :~n ~?~e ~-u::~f:n:;; nc:~;• or here,fi~~r s±tu<ric cn s~i~. 1an~3 fire and ~vir.dstorm
highest insurable value
insuranCe in the usual standard policy Corm, in a sum ~c~t l~:.s t7~=n~ :r. such com-
paAy or comp: ni~s as n~ay be approved Dy sai;? `.T:,: ~,~~;~~~e. ::~~•s ~.I7 . in ;•~:.:n; e~_~ticice oa any of y~d bu11d-
ings, any interest therein or pari thcrcof, in the a.~;;:•_~:aie ~u:.i afnr~said or ir. ~•xcess therec:, shall contain :he
usual standard mortgagee cl~use mak~n~ ti~e ]:;~s ~~t::lc•r ~:,:•i ~%.:~:i~.:. °a:h ar.~i etier}, paya~ie Lo said Mo^tga-
gee as hia interest may appear, and en~h a~:~l e-;~ <<~~ h,.,~::~~y ch::it : c,~~arn~*.ty d~ livered to nr.~i hcld by sa~d
MOrtgagee; and, not less than ten da.s ?n ad~•r. :.~e o; !}~c ~rs:er.~i of c:~ch Yulic}~, tb de?iv~r Lo s~Ed R?origagee
a rene~val thereof, together with a recei, ; i~~ ti~e pr~~m:•.~^~ ot -•:rrh rere«al; and chera sh~ll ~c z~o such insur-
ance placed on any of said building9, sin}• ~n~e.-~s: 't,crr±n a: Ps~rt tlieriot, u:!~_s ihe form ar.~1 w'sth tne lnss
payable as atoresaid; and in the eti~ent any~ sur,ti ot :r,one~• teco;.~es payatle unde: s=.?ch policy or policies said
Mortgagee shalt ha~•e the option to rece3ve and spF~l_: the ~am~. u~: s~c~an' n: the itidebLedne: s secured hereby or
to permit said Mortgagor to recci~•c a:~~ ':>c ~t .~r an_: f»rt !tic; eof far ott~er par~~oses ~thout thereb~ wtii~~ng
oT impairing any equity, 11en or r~~ht un~l~r :,r by ~:r.ue o: tt;i. sz:~rtg,~gr; a:,d in Lhe ei'eni said 211origagor shalt
~ for any reaso~ tail to keep the said premis~:~s so inri~r~d, or fail to deliver prom, t}y zn~• of snid policies of
- insurance [o said Martgagee, or fnil pmmntiv to pr~y f~~!!y zny prem~um ttt^r~!;~r, or sn any r?spect fail to per-
form, discharge, execute, effect, CJMp1eiC. CUin~:ly w:th ar.d -~~c t)• this c~~~rn::n:, ur ar.y part hereof, snid ~tor:g-
8gee may place and pay for st~ch in=urance or xny nart !he: P<-,f ~vithout :~~aiv'v:g or atfectir.g nny option, lien,
~ equity or right under or by virtue ot this mort~age, ar,d tne fut? amount of ea~h und every such payment shaU
be immediately due and pa~•able and shali bcar interesi from the cl :te therc:,f ur?tti paid at tiie rate oi ten per
~ centum per annum and together with s~ch interest shall re securfd by the Ler, of thta mortgage.
4. To permlt, commit or suf:`er no ~=~s-ste, impairment or ~Ic~2rioration of snid property or any part thereol.
6. To pay all and singular the costs, charges and ~::p~ns: inclu6i~g rEa: onable lawyer's fees and cost ot
8b~ttacta oi Utle, lncurred or paid at any time by sald Tlor'igagee bectiuse and%or in the event of the fail•a.rs
on the part ot the said Mortgagor to duly, promptly an9 tuliy perform, discharge, eKecute, effect, complete.
comply with and abide by each and ~very the s!Ipula!ions, a~reements, conditions and co~•enan[s oi said promis-
sory note, and thla mortgage, any or either, and said ^osts, CI]aTgC9 e.nd expsnsee, each snd avery, shall be im-
- mediately due and payahle, whether or not there be notice, demand, attempi to co2lect or suft pending: and the
it111 ataount of each and evtry auch payment shall bear interest trom the d::te thereof untll pald at the rate oi
ten per centum per annum; and aI: said costs, cha:gea end expensa+ ao lncurrad or p~:.td, to~ether R~ith such !n-
~ tsrast, shall bs eecured by the llea of ttila mo: tgage.
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~ BOOK ~ P~
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