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HomeMy WebLinkAbout0394 . and ahall duly. prompUy and tully perform, diecharge, execute, eftect, completP, comply vwth and abide by esch ` and every We stipulations. agreementa. conditione and covenanta of said promissory note and ot thie mortgage. then thia mortgage and the eatate hereby created shall cesse and De null and void. ~ It ia underatood that each oi the worde, "note; '"mortgagot" and "mottgages" respectlvely and the pron• ` ouns refemng theret0. Whether in the aingular or plural anywhere in thls mortgage, ehall be singular if one only aad ahall be plaral joinUy and severally, it more than one, and shall be masculine, feminlne and/or neuter. wher- ever the oontext so impliea or admlta. ~ ~ Aad said Mortgagor tor himneit and his heira, legal representative~, auccessors and asaigns. hereby ooven- aat, a~ agreea to and with said Mortgagee, hia legal representatives, successors and as~igns: ' 1. To pay all aad aingular the principai and intereat and the various and aundry auma ot money payable by t virtus of said promissory note, and this mortgage. each and every, pmmpUy on the daya respectively We same ~ severally become due. ; 2. To pay all and ~ingular the taxea, asaessments, levie9, liabilitiea, obiigations and incumbrances of every i nsture and kind now oa said described property, andfor that hereafier may be imposed, suffered, placed, levied ~ or asseaeed thereupon, and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted- f nesa secured hereby, each and every, when due and payable according to law, betore they becoma delinquent, ~ and before any interest attaches or any penalty is incurred; and in so far as any thereof i~ oi record the sams shall be prompUy satisfied and discharged ot record and the originsl official document (such as, ior instance. . the tax receipt or the satisfaction paper officially endorsed or certified 1 ahall be placed in the hand~ of aaid Mortgagee within ten days next after payment; and in the event that any thereof is not so paid, eatisfied and ~ discharged. eaid Mortgagee may at any time pay the same or any part thereof without waiving or affecting any option, lien, equity or right under or by ~irtue oi this mortgage, and the full amount of each and everq auch payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate ot ten per centurn per annum and together with such interesi shall be secured by the lien of this mortgage. S. To place and continuously keep on the buildinga now or hereafter aituate on said land ftre and windstorm ~ 18 000 00 3 insurance in the usual standard policy form, in a sum not less than 5---•••-----~------••-•'--•-••-----••••--•--•-•-•---••--•. in auch com- ~ pany or comp^nies as may be approved by said Mortgagce: and nll such insurance policies on any ol said build- ings, any interest therein or part thereof, in the aRgregate sum atoresaid or in excess thereof, ahall contain the ~ usual standard mortgagee clause making the loss ur.der 9aid policies, each and every, payable to said btortga- ~ gee as his interest may appear, and each and e~~ery such policy shatl be prompUy delivered to and held by said ~ Mortgagee; and. nat less than ten days in ad~•ance o[ the expiration of each policy, to deliver to sxid Mortgagee a tenewal thereof, together with a receipt tor the premium of such renewal• and there ~halt be no auch insur- ~ ance placed on any o[ said buildings, any interest therein or part thereot, unles~ in the form and with the loss _ ~ payabie aa atoresaid; and in the e~ent any sum o[ money become9 payable under such policy or policies said ]Rortgagee shall have the option to receive and apply the same on account ot the indebtednea~ secured hereby or - to permit ~aid Mortgagor to recefve and use it or any part thereof for other purpo~es without thereby waiving or impairing any equity, lien or right under or by ~ irtue of ihis mortgage; and in the event said Mortgagor shall for any reason fail to keep the ~aid premises so insurcd, or fail to dellver promptly any ot said policie~ ot ~ Insurance to said Aiortgagee, or taii promptly to p:+y fuily any premium therefor, or in any reapect fail to per- ~ form, discharge, execute, effect, complete, comply with and abide by thia covenant, or any part hereot. asid Mortg- ~ ~ sgee may place and pay for such insurance or any part thereof without walving or affectlng any option, lien. : equity or right under or by viKue of thia mortgage, and the full amount of each and every such payment ahall 3 De immediately due and payable and shaU bear interest from the dete thereof until paid at the rate ot ten per ~ centum per annum and together with such tnterest ahall be aecured by tlfe lien of this mortgage. ~ 4. To permlt, commit or auffer no waste, impairment or deterforaUon oi aald propertq or any part thereoi. ~ 6. To pay all and aingular the costs, chargca end expenses, lncluding reasonable lawyez's fees and coet of ~ abetracts of title, incurred or paid at any time by satd bLortgagee becsuse and/or 1n the event of the fsilurs ~i: on the part ot the snid Mortgagor to duly, promptly and fully pertorm. dlscharge, ezecute, effect, complets, comply with and abide by each and every the atipulaUons, agreements, conditlons und covenants oi said promis- ~ iory note. and thls mortgage, any or etther, and said co9ts, charges and expenses, each and every, shall be !m- . ~ mediatNy due and payable, whether or "not there be notice, demand, attempt to collect or suft pending' and ths tull amouni of each and every such payment ahall bear intereet from the dste thenoi uatll pald at the rate ot ~ ten per centum per annum: and all aaid coste, chargei and ea[penae~ ~o incurred os paid, together with such fa- ~ tereat, shall be secured by the !!en oi thls mortgage. ~ ~ B~o~ 218 P~ 39~ } eS . ~ ~ _ - _ , _ _ ~ ..z~_.