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HomeMy WebLinkAbout2130 and shall duly, promptly and fully pertorm. discharge, execute, et[ect, complete, comply w~th and abide by each and everv the stipulations, agreements, cond~tions and covenants of said prom,s~ory note and oi this mortgage. then this mortgage and the estate hereby created shall ceage and be nuU and void. It is underatood that each of the wonis, "note; '"mortgagoY' and "mortgagee" respectively and the pron- ouns referring thereto. whether in the singular or plural anywhere in this mortgage. ahall be singular if one only and ahall be plural jointly and severally, ii more than one, and shall be mnsculine, feminine and/or neuter. wher- ever the context so implies or admits. And said Mortgagor for himself and his heira, legal representatives, successors and assign~. hereby rnven- anta anu agreea to and with said Mortgagee. his legal representatives, succes9ors and assigns: 1. To pay all and singular the principal and intereat and the variou9 and sundry aume of money payable by virtue of said promisaory note, and this mortgage. each and every. prompUy on the daya respect3vely the same severally become due. 2. To pay all and aingular the tnxea, a.ssessments. levies, liabilitie9. obligations and incumbrances of every j nature and kind now on said described property, and/or that hereafter may be imposed, auffered, placed, levied { 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 due and payable according to law, before they become delinquent, snd before any interest attaches or any penalty is incurred; and in so faz as any thereof is oE record the sama shall be promptly satisfied and discharged of record and the original otficial document (auch as, tor instance. :he tax receipt or the satisfaction paper of8cially enJorsed or certified 1 shall be placed in the handa of said Mortgagee K'ithin ten days next after payment; and in the event Lhat any thereof is not so paid, satisfied and discharged, said 1liorigagee may at any time pay the same or any part thereof without wai~ing or affecting any opti0n, lien, equity or right under or by ~•irtue of this mortgage, and the full amount of each and everq such payment shall be immediately due and payabie and shall bear interest from the date thereof until paid at the rate of ten per centurn per annum and together with such interest shail be secured by the lien of this mortgage. 3. To place and continuously keep on the buildinRa now or hereafter aituate on said land fire and windstorm insurance in the usual standard policy form, in a sum not less than i----......-•---~•------•-•---•-•----•-••--•-•----•-•--.._., in auch com- pany or comp^nies as may be approved by said Mort~a~ce; and all such insurance polieies on any of said build- ings, any interest therein or part thereof, in the a~firegate sum a[oresaid or in excess thereof, shall contain the usual standard mortgagee clause making the lo~s ur.der said policies, each and every. payable to said b~ortga- gee as his interest may appear, and each ar.d eeery su~•h policy shali be pmmptly delivered to and held by eaid Mortgagee; and, not less than ten days in ad~•anre of the expiration of each policy, to deliver to said Mortgagee a rene~vsl thereof, toRether with a receipt f~r the premiiim ~f ai~rh renewal; and there shall be no such insur- ance placed on any of said buildin~;s, any interest iherein or part therno[, unless in the form and with the loss payable as aforesaid; tutd in the e~ent nny sum o[ money becomes payable under such policy or policiea said MortgaRee shall have the option to receive and apply the same on account of the indebtednes~ secured hereby or to permit said MortRagor to receive and uce it or any part thereot for other purposes without thereby waiving or impairing any equity. lien or riRht under or by virtue o[ this mortgage; and in the event said Mortgagor shall ~ for any rnaso~ fail to keep the said premises so insur~d, or tail to deliver promptly any ot said policiea ot y insurance to said 111ortgaRee, or fail promptly ta pay tully any premium therefor, or in any reapect fail to per- form. digcharge, execuie, effect, complete, comply with and abide by this covenant, or any part hereof, aaid I?Sortg- ~ agee may piace and pay for such insurance or any part thereof without v~aiving or affecting any option. lien, equity or right under or by virtue ot this mortgage, and the full amoi~nt of each and every auch payment shaII be immediately due and pa~•able and shall bear intPrest from the date thereof untfl paid at the rate of ten per ~ centum per annum nnd together with auch interest ahall be secuced by the Hen oi thle mortgage. 4. To permi~ commit or sutfer no waste, impairmeat or deterioratlon o! said pmperty or any part thereof. 6. To pay sll and aingular the costs, chargea and expen9es, including reasonable lewyer's fee~ and coot ot abatracts ot title, lncurred or paid at any time by satd Mortgagee because and/or fn the event of the fallure on the part ot the said Mortgagor to duly, promptly and Rilly pertosm. dfecharge, ~a[ecuie, effec~ complete. comply with and sbide by each and every tbe stipulatlona, agreements, conditlons and covenanta of said promia- aory noie. and this mortgage, any or either, and said cosia, charges and expenaes, each and every, ahall be Im- mediately due and payable, whether or not there be notice, demand, attempt to collect or sult pending• and the full amount of each and every auch payment ahall bear interest from the date thereof until pald at the rate o! ten per centum per annum; and all eafd coste, charges snd expenaes eo incurred or patd. iogether with euch in- terest, ~hall be secared by the lien ot thla mortgage. a~21'~ ~~.21 ~ ~r- _ _ 3~ . ~ T._ ~ W..~ = ~ ~