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HomeMy WebLinkAbout0208 and shall•duly, prompUy and tully perform, discharge. execute, effect, compleie, comply wtth and abide by each and every the stipulations, agreements, cond~tions and covenants of sxid prom~saory note and of thia mortgage. then thia mortgage and the estate hereby created shall cease and be null ana void. It i9 underetood that each oi the wor18, "note," "mortgagor" and "mortgagee" respectively and the pron- ouna reterring thereto. whether in the aingular or plnral anywhere in this mortgage, ahall be singular it one only and shall be plural jointly and severally, if more than one, and shall be m~9culine, feminine and/or neuter. wher- ever the conteut so impliea or admits. And said Mortgagor for himaelf and his heire, legal representatlves, successore and essigns, hereby coven- anL~ ana agrees to and with said Mortgagee~ his legal repcesentatives, succes9ors and assigns: ~ 1. To pay all and singular the principal and intereat and the various and aundry auma of money payable by virtue of said promissory note, and t.hi~ mortgage. each and every. pmmpUy on the days respectively the same i eeverally become due. ; 2. To pay all aad aingular the txxes, assessments, levies, liabilities, obti~ation9 and incumbrances of every ~ nature and kind now on sald described property, and/or that hereafter may be imposed, auftered, placed, levied or assessed thereupon, and/or that hernafter may be levied or assessed upon this mortgage and/or the indebted- a ness secured hereby, each and every, when due and payable according to taw, before they become delinquent, E and before any inierest attaches or any penxlty is incurred; and in so faz as any thereof is ot rerntd the same shall be prompUy satisfied and discharged of record and the oriRinal ot[icial document (~uch as, tor instsnce, ~ :he tax receipt or the satisfaction paper officialiy endorsed or certifiedl ahall be placed in the hands of said Mortgagee within ten days next after payment; and in the event tha[ any thereot 3s not so paid, satisfied and ~ discharged, said Mortgagee may at any time pay the same or any part thereo[ w-ithout waiving or affecting ~ any optibn, lien, equity or right under or by ~•irtuP of this mortgage, and the fult amount of each and every auch payment shall be immediately due nnd rayabte and shall bear interes[ from the date thereof until paid ~ at the rate oi ten per centum per annum and together with such interest shall be secured by the lien of this k mortgage. . e ~ 3. To place and continuous~jr keep on the buildinga now or hereafter 8ltuate on said land fire snd windstorm inaurance in the usual standard policy form, in a sum not less than ~ in auch com- pany or comp^nies as may be approved by sai~l Afort~a~ce: and all such insurance policies on any ol said baild- ~ ings, any interest therein or part thereof, in the a~~regate sum a[ornsaid or in excess thereof, ~hall contain the ~ usual standard mortgagee clause makinq the lu~q ur.d~r said policie9, each and every, payable to said Mortgar p gee as his interes[ may appear, and each and e~~ery surh policy shall be prompily deliaered to and held by said ~ Mortgagee- and, not less than ten days in adi~an~e of the expiration of each policy, to deliver to snid Mortgagee ~ a renewal ~thereof, toRether with a receipt for the premii~m ~f vu~h renewal• and there shall be no such insur- ance placed on any of said buildinRs, any interest therein or part thereof, unle_as in the form and with the tosa payable as aforesaid; and in the e~•ent any sum of money becomes payable under such policy or policies said i ~ MoriRagee shall ha~e the option to recei~•e and apply the same on account of the indebtednes~ secured hereby or x to permit said Mortgagor to rece3ve and use it or any pwrt thereof for other purposes without thereby waiving n or impairing any equity, lien or riRht under or by ~ irtue of this mortgage; and in the event said Mortgagor shall ~ for any reason faii to kecp the saic~ premis~s so insured, or fail to deliver promptly any of said policies ot ; fnsurance to said I~tortgaR. e, or fail prompUy to pay faUy any premium therefor,- or in any respect tail lo per- = form, discharge, execute, effect. complete, comply ~vith and abide by this covenant, or any part hereof, said Atortg- - agee may place and pay for such insurance or any part thereof without waiving or affecting any option, lien, equity or right under or by ~•irtue of this mortgage, an~ thc full amount of each and e~ery euch payment shall f~ be immediately due and payable and shall bear intPrest from the date thereot untll paid at the rate of ten per ~ = centum per annum and together with such Interest shall be aecured by the lien ot thls mortgage. ` 4. To permlt, commit or suffer no waste, impairment or deterloraUon ot aaid property or any part thereoi. 6. To pay all and aingular the costs, charges and expense9, including reasonable lawyer'e fee, and cwt o! abstracts ot tiqe, tncurred or paid at any time by sald 1?tortgagee because and/or l~r Ehe_event of the fatlure ~ on the part of the said Morigagor to duly, pmmptly and fully perform. discharge, execute, effect, complete, comply wlth and abide by each and every the stipulation~, agreements, conditlona and covenante ot- said prnmfe- - eory note, and thia mortgage, any or e~ther, and said costs, charge9 and expensea, each and every, ahali be Im- = mediately due and payable, whether or not there be notice, demand, attempt to collect or ~uit pending; and the - full amount of each and every such payment ahali bear interest trom tha date thereot until paid at the rate oi ten per centum per annum; and all eafd co~ta, chargea end expenees eo lncurred or paid, together with auch in- teres~ stull De secured by the lien of this morigage. ~ i~00Y f,~~f 4 f' N' ~ . 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