HomeMy WebLinkAbout0768 AI~1D the said Mortgagor here6y covenants and agree s:
1. To pay aIl and singular the principal and interest and other sums of money pay-
able by virtue of said promissory note and this deed, or either, promptly and on the days
-respectively the same severally become due.
2. To pay all and singular the taxes, le~~ies, liabilities, obligations, and encumbrances
of every nature heretofore or hereafter imposed, placed, levied or assessed on said describ-
ed properry for which a lien shall exist superior in c~ignity to the lien of this mortgage, each
and every, and if the same be not promptly paid the said Mortgagee may at any rime pay
the same without waiving ar affecting the option to foreclose or any right hereunder, and
the amount of every payment so made shall bear interest from the date thereof at the rate
which said note bears and shall be secured by the lien of this mortgage; the Mortgagor
agree to furnish to the I~tiortgagee prior to April of each year receipts for all ad valorem
taxes paid by the Mortgagor .
3. To pay all and singular the ~costs, charges and expenses, including lawyer's fees,
reasonably incurred or paid at any time by said Mortgagee because of the failure on the
part of the said Mortgagor to perform, comply with and abide by each and every the
stipulations, agreements, conditions and covenants of said note and this deed, or either,
and the amount of every such payment shall bear interest from date at the rate which said
note bears and shall be secured by the lien of this mortgage.
4. To keep the buildings now or hereafter ori said land insured against loss by fire
in a sum not less than the amount of this mortgage from time ro time outstanding and un-
paid; or the full insurable value of such Eiuildings, whichever is lesser, and insured against
loss by windstorm in such amount that the insured will not be a co-insurer under the terms
of the policy or policies, in a company or compariies approved by Mortgagee , and the
policy or policies held by and payable to said Mortgagee ; in the event any sum of money
becomes payable under such policy or policies, the Mortgagee shall have the option to ~
receive and apply the same on account of the obligation hereby secured or to permit the
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 may ~
place and pay for such insurance or any part thereof withuut waiving or affecting the
option to foreclose ~or any right hereunder, and the amount of each and evety such pay-
ment shall bear interest from the date thereof ar the rate which said note bears and shall
~ be secured by the lien of this mortgage.
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5. To permit, commit or suffer no waste, impairment or deterioration of said
; property or any part thereof. .
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~ 6. To perform, comply with and abide by each and every the stipulations, agree-
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f inents, conditions and covenants in said promissory note and in this deed set forth.
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? 7. If any of said sums of money herein referred to be not promptly and fully paid
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within thirty days next after.the same severally become due and payable, or if default in
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- any other stipulation, agreement, condition or covenant of said promissory note and this
; deed, or either, shall remain uncorrected for chirry days after such default occurs, then
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± the said aggregate sum mentioned in said note then remaining unpaid, with accrued
~ interest and all other sums secured hereby shall become due and payable forthwith or there-
after at the option of the Mortgagee , as fully and completely as if the said sums were
; originally stipulated to be paid on such day, anyrhing in said promessory note or herein .
' to the contrary notwithstanding.
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