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HomeMy WebLinkAbout0993 . ' ' , ' and shall duly. promptly and fully pertorm, discharge, execute, eftect, completc, comply wlth and abide by each and every the stipulations. agreements. cond~tions and covenants oi said prom~ssory note and ot this mortgage. then this mortgage and tha estate hereby created ahall ceaBe and be null and void. It is underatood that each oi the worda, "note," '•mortgagof' and "mortgagea" respectively and the pron- ouns referring thercto, whether in the aingular or plural~ anywhere in thie mortgage, shall be singular it one only and ahall be plural jointly snd severally. ii more than one, and 6hall be masculine, feminine and/or nevter. wher- ever the context eo implies or admits. And said Mortgagor for himselt and hia heirs, legal representatives, auccessore and assigns. hereby coven- ants ana agrees to and with eeid Mortgagee, hia legal representatives, succeseors and assigne: i. To pay all and aingular the prtncipal and intereat and the various and aundry aums b! money pe?yable by virtue of said pmatis~ory aote, and this mortgage. each and every. promptly on Lhe days respectlvely the same eeverally become due. i ' 2. To pay all and singular the ts+xes, assessments, levies, liabilities, obligations and incumbrances ot every ' nature and kind now on said described property, and!or that hemaftcr may be imposed, euffered, placed, le~•ied ~ or assessed thereupon. and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted- ness secured hereby, each and every, when d~ie and payable according to law. betore they become delinquent, , and before any interest attaches or any penslty is incurred; and in so far as any thereof is of record the same shall be prompUy satisfied and discharged of record and the original ofticial dceument (such ss. for instance, P ihe tax receipt or the aatistaction paper ofticialiy endorsed or certitied) shxll be placed in the hands of said btortgagee within ten dwys next atter payment; and jn the event that any thereoi is not so paid, satisEied and dischargecl, said 1?iortgagee may at any Ume pay the same or any part ihereo[ without waiving or affecting : ~ any option. lien, equity or right under or by virtue o[ this mortgage, and the full amount ot each and every ~ B such payment ahall be immediately due and Fayable and shall bear interest from the date thereof until pald ~ at the rate of ten per centurn per annum and together with such interest shall be aecured by the lien ot this ~ mortgage. 3. To place and continuously keep on the buildinga r.ow or hereafter altuate on said land fire and windstorm insurance 1n the usual standard policy form, in a sum not iess than i.••• in such com- pany or compsnies as may be approved by said Morlgo~ce: bnd ell such insurance policies on any of snid build- ings, any intere~t therein or part thereof, in the aRgregate aum a[oresaid or in excess thereot, ahall contain the usual standard mortgagee clause making the loss under said policies, each and every. payable to said biortga- ~ ~ee as his interest may appear, and each ar.d every such policy shall be promptly delivered to and held by said l~iortgagee; and, not less than ten days in ad~•ance of the expiration ol each policy, to deliver to said 1?1ort~aRee ~ s renewal thereof, together with a receipt for the premium of 9uch renewal; and there shall bc no auch insur- ance placed on any of said buiidings, any interest therein or part thereof, unless in the form and with the loss ~ payable as aforesaid;. nnd in the event any sum of money becomes pnyable under such policy or policies said Mortgagee shall ha~•e the oplion to receive and apply the same on account oi the indebtedness secured hereby or ~ to permii said Mortgagor to receive and use it or any part thereof for other purposes without thereby waiving ~ or impairing any equity, lien or right under or by virtue of this mortgage; and in the event eaid Mortga~or shall [or any renson fail to keep the said premises so insurcd, or isii to deliver prompUy any of said policies o! insurance to said l~tortgagee, or fail prompUy to pay fully any premium therefor, or in any respect fail to per- ~ form, discharRe, execute, effect, complete, comply ~vith and abide by this covenant. or any part hereof. said 1liortg- a~ee may place and pay for such insurance or anv part thereot without waiving or affecting any option, lien, ~ equity or right under or by virtue of this mortgagc, and the full ar~iount of each and every auch payment shall ~ be immediately due and payable and ahall bear interest from the date thereot unttl paid at the rate of ten per ~ centum per annum nnd together with auch interest ahall be aecured by the lien of this mortgage. ~ a. Tn pmrmlt, rnmmit ~r ,~~tter nn_ v~a+te, impairment or deterloration of said property or any part thereof. w ~ 6. To pay nll and aingular the co~ts, charge~ and expenses, including reasonable lawyer'e fees and cost ot ~ abstracts ot title, fncurred or paid at any time by safd Mortgagee because and/or tn the event of the fallure _ on the part of the sald Mortgagor to duly, promptly and fully pertorm, dlscherge, execute, effect, complete. ~x compty with and sbide by each and every the stlpulations, agreement~, condiUon~ and oovenante of eaid promis- ~ sory note. and thi~ mortgage, any or either, and nald cost~ charges and e~cpenses. each and every, ahall be tm- mediately due and p~?yable. whether or not there be notice, demand, attempt to collect or ault pending: and the ~ fuU amount of each and every such payment ehnll bear intere9t from ths dats tbereof untll pafd at the rste af ~ ten per centuin per annum; ar~d all asld coote, chargea and expea~ ~o incurred or paid. Wgetber Mth aucb fa- ~ tereat, ~ha11 bs ~ecured by tbs Len oi this mortgaga ~ ~a ~ ~ E~~~ 2~5 F~~ 991 ~ y . . . ~ - ~ ~ _ . ~ _ _ _ ~ _ _ _ . _ _ _ ~ ~