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HomeMy WebLinkAbout2782 . ~ . and shall duly. promptly and fully periorm. discharge, execute, effect, compietP, comply with and abide by each and everv the stipulations. agrren?ents, conditions and covenants of snid prom?ssory note and of this mortgage. then this mortgage and the estate hereby created shall cease and be null and void. It is understood that each oi the wonis. "note," "mortgagoC' and "moftgagee" respecUvely snd the pron- ouns referring thereto, whether in the singular or plural anywhere in thie mortgage. ahall be singular 1t one only and ~hall be plural joinUy and severally, if more thnn one, and shall be masculine, feminine and/or neuter. wher- ever the oontext ao implies or admit9. And said Mortgagor for himself and his heirs. legal representativee, successors and assigne. hereby coven- ants arw agrees to and with eaid Mortgagee. his legal representatives, successors and e9siBns: 1. To pay ali and singular the principal and intereat and the vsrlous and eundcy suma ot mi n~ e~y pa~ b1~e virtue o! said promisaory note, and thia mortgage, each and every. promptly on the days re~Pec ~ Y eeverally become due. i 2, To pay all and aingular the tnxea, essessments, levies, liabilitte9, obligations and incumbrancea of every nature and kind now on said described propertY. and/or that hereaiter may be imposed. euffered. placed, levied t ar y~sessec3 Lhere~~TM~~, andlor tt~at hereafter may be levied or assessed npon th~s mortgage and/or the indebted- i ness seeured hereby, each and every, when due and payable accorciing to law. beiore cney oe<.-~iiiie ue;iuy~~.-•L. and before any interest attaches or any penalty is incurred: and in so far as any thereoi ia of record the sams shall be prompUy satisfied and discharged of record and the original official document (such aa. tor instance. ihe tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Mortgagee within ten days next after payment; and in the event that any thereof is not so paid, satisfied and discharged, said Mortgagee may at any time pay the same or any part thereot without waiving nr affecting any opti0n, lien, equity or right under or by ~ irtue of this mortgage, and lhe full amount of each snd every atcthe r}ateno! t nlper centumaper annum and together wilh~su haintere tgshall be secured by the lien of thie mortgage. 3. To place and continuously keep on the buildin~s now or hereafter aftuate on said land fire and wlndstorm insurance in the ~4ua1 standard policy form. in a sum not-les9 than i..._'~a.~~•-~---- 1n 9uch com- pany or comp^nies as may be approved by said Mort~atce: and all such insurance policies on any ot said build- ings, any interest therein or part thereof, in the a~~regate sum atoresaid or in exce9s thereof. ehall contain the usual standaM mortgagee clause making the loss ur.der sr?id policies, each and every. payable to said Mortga. gee as his interest may appear, and each and e~•ery su~~h policy shall be promptly delivered to and held by said biortgagee: and, not less than ten days in adran~e of the expiration of each policy, to deliver to said Mortgagee a renewal thereof, together with a receipt for the premium of auoh renewal: and there shall be no such insur- ance placed on any of said buildinRs, any intemst therein or pr+rt thereof, unless in the form and wlth the loss payable as aforesaid: and in the e~•ent any sum of money becomes payable under such pollcy or policies said Mortgagee shall ha~e the option to receive and apply the same on account of the indebtedness secured hereby or to permit said MottRagor to mcei~e and use it or any part thereof for other purposes without thereby waivinS or impairing •an} equity, lien or riRht under or by virtue of this mortgage; and in the event said Mortgagor ahall for any reason fail to keep the said premises so insumd, or fail to deliver promptly any ot said policiea ot insurance to said DiortgaRee, or fail promptiy to pay tully any premium therefor, or in any respect fail to per- ` torm. dischar~;e, execute, effect, complete, comply .vith and abide bv this covenant, or any part hereof. said Mortg- agee may place and pav for such insurance or any part thereof without waiving or afEecting any opt ent shaU equity or right under or by virtue of this mortgage, and the full amount of each and every auch paym be immediately due end payable and ahall bear intPrest from the date thereot until paid at the rate oi ten pee centum per annum and together with such interest ahall be secured by the lien oi this mortgage. 4. To permi~ commit or sufter no vra+te. impairment or deterioraUon of eaid pmpertY or any part thereoi. 6. To psy ell and aingular the costs, chargea and expenses, including resaonable lawYer's fees and cast o! abstracts of tiUe, fncurred or paid at any time by said Morigagee because a~?d/or in the event ot the taflure on the part oi the said Mortgagor to duly, promptly and Nlly perform, dlecharge, eaecute. -eftect, complete. comply with and sbide by each and every the stlpulaUona, agreements, conditiona and covenanta of said promis- sory note. and thi~ mortgage. any or efther, and said costs. charges and e~penses, each at?d every. shall be !m- mediately due and psyable. whether ~r not there be notice, demand, attempt to colkct or ault pending- and the ltiill amount of each and every euch payment ahail bear interest irom the date thereof until pald st`.the rate ot - ten per centtun per annum• and all eatd coete, charges and racpeaee~ so tncurnd or Pa~d+ ~°Bether with such in- tenst, shW be secured by the liea of thls mortgage. : e~~ i ~7 PACE~ ~vu . _ _ - . _ ~ _ .