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s_. 4~~.~QQ e~ o~u~ and s~~~:aUY. PROMISE TO PlIY to th~ ord~r ol... 3
t1u w~d~id~a~d. ~ ~
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~'s: l~~e! ts~! wsitit~. l~iM: wUh iat~e~s! r7vr•
,i. p=~w1 ~d ~„i~ a a~. ~d paY~bl~ in thirty nine (39) equa
The interest on this note will be 8~ X on
' ~ a1sa~ aatu aMw~it~r•
i nstal laients pl us accrued i nterest as fol l ows : ,
ae
the unpaid-balance from the date hereof until~atse eF~~ithefdate that9the fi~rst mortga9e is -
by the aartgagor) is paid in full within 90 Y ,
11 satisfied, in consideration for ~he mortgagee herein subordinating this mortgage to
fu Y institutlon mortgage for construction purposes, mortgagor will then pa~Y ~
that of a 1 endi ~9
~ la~ interest on the unpaid balance. .
note be p r ep a i d i n w h ole or in part at aRy time without penalty. `
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and shall duly. pmmptly and fully per[orm, discharge. execute, etfect, complete, comply wtth and abide by each
t1~en this mortgage and the estate he eby created shall c~ease and be null anA oid. ~ry note and ot this m~rtgage.
It is understood that each of the wor~. "note; '"mortgagor" snd "mortgagee" respectively and the pron-
ouns referring thereto, whether in the singuler or plural anywhere in thls mortgage. ahall be aingular ii one only ~
and ahall be plurnl joinUy and severally. if more than one, and shall be masculine, teminine and/or neuter. wher-
ever the context eo implies or admit9-
And said MortgaSor !or himselt and his heirs, legal representatives. succe9sors and essiBns. hereby coven-
anLs ana agrees to and with eaid Mortgagee, hia legnl representatives. successors and assigns:
1. To pay sll and stngular the principal and intereat and the various an
ns
~e
~y~~~uv le
y~theblsame
virtue of said promisaory note. and this mortgage. each and every. promptlY
I severally become due.
~ 2. To pay a11 and singalar the taxes, assessments. levies, liabilitie9, obiigations and incumbrance~ oi e~ery _
nature and kind now on said described property, and/or that heresfter may be imposed. Buffered. placed, levied
~ or assesaed thereupon. and/or that hereafter may be lecied or asses9ed upon this mortgage and/or the indebted- f
~ ness secured hereby. each and every, when due and payable according to law. be[ore they become delinquent, _
and before any interest attaches or any penaltY is incurred; and in so fai' as any thereoi is of record the same '
shaA be prompUy satisfied and discharged ot record and the original official dceument (such as. tor instance, ;
;he tax receipt or the satiafaction paper of[iciaUy endorsed or certified/ ahall be placed tn the hands of said
Mortgagee within ten days next after payment; and in the event that any thereof is not so psid, satisfied and
discharged. said Mortgagee may at any time pay the same or any part thereof v~~thout wai~~ng or aftecting
any optibn, lien, equity or right under or by ~ irtuP of this mortgage, and the full amount ot each and every
atcthe ai~yate noi st nl per centumaper annum anda together wilh ~su haintere tsshall be securede by ihetli n o,f th e
mortgage.
8. To place and continuously kecp on the buildin~s now or hereafter aituate on said land fire and M?i~?dstorm
MaX1.P.tL1Iri . tn such com-
insurance in the u.4ual standard policy form, in a sum not less than 5-..-.
pany or con~p: nics as may be approved by sai~l hiort~n~ee: and aU such insw..nce policies on any o! said build-
ings, any interest therein or part thereof, in the a~~re~ate sum atoresaid or in excess thereot, shall contain the
usual standard mori~agee dause makin~ the lo~s ur.d~r said policiea each and every, payable to said I?iortga-
gee as his interes[ may appear, and each ard e~~e;y 5~~~•n a?i~~y shali be prompUy delivered to and heid by said
Mortgagee: and, not less than ten days in ad.•an~e of the exp~ration of each policy, to deliver to said Mortgagee ,
a rene~val thereof, to~ether v~-ith a receipt tor the premii~m ~f vn~h renewal: and there shall be no such insur- ~
ance placed on any of said buildinRs, any interest therein or part thereot, unleqs in the form and with the loss
payable aa aforesaid; and in the e~ ent any sum of money becomes payable under such policy or policiea said
Mort~agee sball ha~e the option to receive and apply the same on account of the indebtedness secured hereby or
to permit said Mortga~or to receive and u~e it or any part thercot for other putposes a?ithaut thereby waiving
~ or impairing an} equity, lien or ri~ht under or by ~irtue of this mortgage: and in the event said Mortgagor shall
for any reaso:? fail to keep the said premises so inQur~d, or fai'eRO, am~~thereformoru,a any re~(?ect fail~t per-
~ 3nsurance to said rtortgaRee, or fail prompUy to pay tnlly ar?y p ari hereof, said Mortg-
torm. discharge, execute, effec~ complete, comply ~~~th and abide bp thia co~enant, or any p
agee may place and pay for such insurance or any part thereoi without waiving or atfecting any op[~ent shall
equity or right under or by virtue of this mortgage, and thc full amount ot each and every euch paym
be immediately due and pa}abie and ahall bear intPrest from the date thereoi untll paid at the rate of ten per
centum per annum ~?nd together vrith such interest shalt be aecured by the lien of thfe mortgage.
4. To permlt, commit or suf[er no aeste, impairment or deterioration of sald property or any part thereof.
6. To pay sll and aingular the costs, charges and expenses, including reasonable lawYer'e fee~ and cost o!
abstracta ot tiUe. incurred or paid at any time by sald Mortgagee because and/or ute, eeffect,~co Plete.
on the part of the said Mortgagor to duly, promptly and fully perforns. dlscharge,
comply with and abide by each and every the sUpulation~, agreements. conditfona ~h
~a~~ry ~a11 be lm~ :
sory note. and Ws mort~e, any or either, and said co3ts, charges and e.xpeneee. ;
mediately due and payable, whether or not there be notice, demand, attempt to collect or sult pending; and the ~
tuU amount ot each and every ~uch pavment ahall bear interest irom the date thereof unU1 pald at the rate of ~
ten per centum per aru~um; and all eafd cwte, charges and e:penses eo ~ncun~ed or paid. LoBether wit2? auch fn-
tereat, ehv! pe eecured by ths Ifen of thfa mortgage.
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