HomeMy WebLinkAbout2622 ~
perty not specifically mentioned. All of such real, personal and mixed pro- ;
perty herein described, whether affixed or annexed or not, and all rights ;
hereby conveyed and martgaged arc intended so to be and are to be deemed in- ~
cluded in the term "tl~e Property" as used herein.
To have and hold the Property unto the Mortgagee, iCs successors and
assigns, to its own proper use, benefit and behoof forever.
Mortgagor hereby covenants with Mortgagee that it is the fee owner of f
the Property and hereby covenants with Mortgagee that it is indefeasibly
seized with the absolute fee simple title to the Property and has full
power and lawful authoritq to sell, convey, transfer and mortgage the same;
that it shall be lawful for Mortgagee at all times peaceably and quietly to
enter upon, hold, occupy and en3oy the Property and every part thereof; tha~
~
the Property is free from all liens and encumbrances and claims of any kind, '
including taxes and assessments, and Mortgagor hereby fully warrants unto
Mortgagee the title to the Property and will defend the same against the
claims of all persons whoeisoever.
Provided, however, that if Mortgagor shall pay or cause to Ue paid to
Mortgagee the principal and interest payable in respect to the Note at the
times and in the manner stipulated therein and herein, all without deduction
or credit for taxes or other similar charges paid by Mortgagor, and shall
keep, perform and observe all the covenants and conditions contained in the
Note and in the Mortgage without delay, then this Mortgage and all the pro-
perties, interest and rights hereby assigned, transferred, conveyed, mort-
gaged, pledged and delivered shall cease, determine and be void, but shall
otherwise remain in full force and effect.
Mortgagor covenants and agrees as follows:
1. Payments on Note.
To pay the principal and interest and all_ather sums
payable by virtue of the Note and of this Mortgage promptly
as the same shall become due. .
2. Condition of Im~roveraents.
Mortgagor shall (a) promptly repair, restore or rebuild
any improvements now or hereafter on the Property which may
become damaged or be destroyed; (b) keep the Propert}• and
said improvements in good cond3tion and repair, without
waste, and free from mechanics' liens or claims for liens
- not expressly subordinated to the lien hereof; (c) not do
or permit waste thereon or to suffer anything to be done
which would impair or depreciate the value of the Property ?
or the improvements thereof; (d) pay when due any indebt-- ;
edness which may be secured by a lien or charge on the ~
Property superior to the lien hereof; (e) complete within
a reasonable time any bui2ding or buildings now or at any
time in process of erectian upon the Property; (f) comply
with all requirements of law, municipal ordinances, or
restrictions of record k~ith resgect to the Property and the
use thereof; (g) suffer or permit no change in the general
nature of the occupancy of the Property, without riortgagee's
written consent; and (h) pa}• each item of indebtedness secured
by this Mortgage ~•hen due accordin~ to ttie terms hereof or of
the Note.
3. Taxes and Assessments. ,
~
' i
Mortgagor shall pay, before any penalty attaches, all `
taxes, special assessments.and other charges against the pro-
perty when due, and shall, upon written request, furnish to
l~iortgagee duplicate receipts therefor. To prevent default
hereunder, Mortgagor shall pay in full, under protest, in
~
~
t
• - 2 -
g00K ~OU PAC~ ~',8 !
i
~
c _ . . . . . . _ . .
k'f.%s..S~$-'~x. R . ' . ? . ' ~._S.u~ V'~~ .
~ `t,~;^.~,~ ~ z~ 't- ~ 5
~ w _ ; . ~x~' ~
~s
~ ~