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HomeMy WebLinkAbout2314 _ . - ~ - - - _ - w._ And also, to secure the payment af any and all notes, liabilities~ and obligations of the mortgag- ors. or either of them, to t~e mortgagee~ its success ora or assigns. ~vhether as maker~ endorser~ guaran- tor or otherwise. and wliether such' notes, liabilitiea or obligations, or any of them, be now in existence or accrue or arise hereafter~ or be now o~vned or held by the mortgagee, or be acquired hereafter, it be- ing the intent and purpose of the mortgagors to secure, by this mortgage. all notes. claims, demands, lia- bilities and obligations ~~~hich the mortgagee. its successors or assigns, may have, hold or acquire at any time during the life of this mortgage against the mortgagors, or either of them. Protided, that the total of all amounts secured hereby shall not eKCeed at any one time the sum of Fifty-five , Hundred and No/100 ($5,500.Og)---------------------"-"'-'-'-""" , Dot~.axs, in the aggregate; and pro~•ided further that all such notes, claims, demands or liabilities and obliga- tions secured hereby be incurred or arise or come in to existence either on or prior to the date of this mortgage, or on or before Ten (10) years after date of this mortgage. AND TIiE SAID ~1IOftTGAGOR S, for their ~ heirs~ legal repre~entati~~e: , successors and assigns, do hereby covenant and agree : 1. To pay all and singular the principal, the interest and other sums of money payable by virtue of the said abo~e mentioned notes and other obligations and this deed, each and e~~ery, promptly on the days. respectirely, the same become due. 2. To pay all and singular-the taxes. assessments, levies, liabilities, obligations and encumbrances of e~ery nature and kind now on said property, or that hereafter may be levied or assessed thereupon, each and every of them ; and if the same. or any part thereof, be not promptly paid when due and pay- able, said Diortgagee, its successors, heirs or assigns, may at any time pay the same, without ~vaiving or aFfecting the option to foreclose this mortgage by reason of such default. or any right hereunder, ~ and e~~ery payment so made shall bear interest from the date therzof at the rate of per cent, ~ per annum. and all such paymen~s. ~r•ith interest as aforesaid shall be secured by the lien hereof. j 3. To pap all and singular the costs, fees, charges and espense.s~ of e~ery nature and kind, includ- ; ing the cost of an abstra ~t of title to the above descr ibed lands found to be con~~enient or expedient in _ ~ connection with any suit for the foreclosure af this mortgage. and also including all costs and espens- es of the said suit, includin~; attorney's fees, to the attorney of the complainant foreclosing of ~100.00 ~ and ten percent upon the amount decreed to the complainant, or fised by agreement before decree. «•hich co3ts and fees shall be inciuded in the lien of this mortgage and in the sum decreed upon fore- ~ ctosure, because of the failure on the part of the said Mortgagor , thei~eirs, legal representati~~es, ~uccessors or assigns. to perform. comply ~sith and abide by all or any of the co~-enan~~, conditions and'stipulations of said promissory notes and other obligations, and this martgage. and in the fore- closure of this mortgage and in collecting the amount secured hereby, each and e~•ery such payment shall L~ear interest from date thereof until paid at the rate of per cent, per anr.um, and ~uch pa~ ments ith intei•c~t thereon as aforesaid~ shall be se;;ure~ bt• the lien hereof. . To permit, comm;t or suffer no ~~aste. impairment or deterioration cf ~•aid property. ur any part therevf. v. To keep the buildings, no~v or hereafter on said land. insured against fire and tcrnado in a s:im not less than Fifty-five ~iundred -----------------------DOLLARS, (~5,500.00 in a com~:any or compa~iies to Ue designated by said biortgagee~ its successors or assigns, loss, if an~~ payable to the ~iortgagee, as its interest may appear, and in the e~ent any sum of mones hecomes pay- x able under such policy or Poli~ies, the :~Iortgagee, its successors. or assi~;ns, shall ha~-e ti:e option to re- rt' cei~e and_apply the same oii account of the indebtednes.s secured h~reby, or t~ permit said ~Iortgagor ~ to recei~~c and use it, or any part thereof, for the pur pose of improving said land, ~~•ithout thereby ~vai~•- ~ ing or impairing any e~uity, lien or right under or by virtue of this mortgage; and said 11lortgagee, its ,uccessors or as.signs, may place and pay for such insurance, or any part thereof. ~vithcut ~tairin~ or affecti~ig the option to foreclose, or any right hereunder. and each and e~~ery such payment ~hail bear ~ interest from date thereof until paid at the rate of per cent, per annum, and all such pay- ~ ments, ~~•ith interest as afor~~aid, shall be secured by the lien hereof. The mortgagee, its succes~ors or assigns, is empo~vered to adjust. compromise, submit to arbitration and appraisement and collect, and apply to the reduction of said indebtedness. any claim or loss arising under any insurance policy cover- ~ ing said premises; and to that end the mortgagee, its successors and assigns, are irrevocably appointed ` the attorney in fact af the part~ of the first part to execute and deliver such receipts, i-elea~e~ and oth- er writings as shaU be requisite to accompli~h such adjnstment, compromise, arbitration, appraise- ~ ment and collection. 0 R ~.~.0 s S00lI P11~f (?JlJa7 . . _ _ ' ` . . y ~ . . . ~ . _ - _ p • ~ ~ ~~~y`~~' ~n~'~._£.~.....,~.~ _....~a....i_ ...e.. ~=Y"' = J"'Fd .t-3 .