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HomeMy WebLinkAbout2188 - i i le l 3 snd shall duly, promptly and [ully perform, discharge, execute, etfect, completP, +:omply w~th and sbide by each and e~°erv the stipulations, agreemenis, conditions and covenants of said prom~ssory note and ot thi~ mortgage. ~ then this mortgage and the estate hereby created sha{1 cease and be null and ~~oid. It is understood that each of the wonis. "note." "mortgagof' and "mortgagee" respecti~ely and the pron- ouns referring thereto. whether in the singular or plural anywhere in thls mortgage, ahall be singular 1f one only and shall be plural jointly and severally, if more than one, and shall be mn.4culine, feminine and/or neuter. wher- _ e~er tl~e context ao implies or admits. And said Mortgagor for himself and his heirs, legal representatives, successors and essigu~. hereby coven- ant9 arw agrees to and with esid 1?tortgagee. h;s legal representatives, successors and sssigns: l. To pay ell and singular the principai and intereat and the various and sundry sums o[ money payable by ~ virtue of said pmmissory note. and thi~ mortgage. each and every, promptly on the days respectively the same { severally become due. 2. To pay a1l and ~ingular the tiuces, assessments, levies, liabilities. ouliRations and incumbrancea o! every nature and kind now on said descnbed property, and/or that hereafter may be iinposed. suftered. placed, levied I or assessed therenpon, and/or ihat hereafter may be levied or ass.:ssed upon this mortgage end/or the indebted- ness secured hereby, each and every, v?hen due and payable accorciing to law, betore they become delinquent, ~ nnd before any interest attaches or any pena)ty is incurred; and in so far as any thereof is of record the same shall be prumptly satisfied and discha oed ot record and the oriRinal official document (such as, tor instance. :he tax receipt or the satistaction paper officiaUy endorsed or certifiedl shall be placed in the hands of ~aid Mortgagee v?~thin ten days next after payment; and in the event that any thereof is r.ot so paid, satisfied and dis~ha~ged, said 111ortgagee may at any time pay the same or any part thereo[ wlthout wai~ing or affecting suy optiDn, lien, equity or right undec or br rirtiir of Lhis mortgage, and the full amount of each and every ~ such payment shall be immediately due and F~ayab;e and shall bear interest from the dxte thereof until paid ~ at the rate of ten per centurn per annum and together with such intere~t shsll be secured by the lien of this mortgage. 3. To place and continuously kerp on the boild~n~s now or hereafter aituate on said land fire tand windstorm insurance in tT.e usual standard policy form, in a~vm not less than i.....-------••-•-- in auch com- pany or comp^z9es as may be approved by sai~i 1?lnr2~ar~•e; an~1 nll such insurance policies on any of eaid build- ing~, any interest therein or part thereof, in the a~~Cn:Kate sum a[orpsaid or in excess thereot, ~hall contain the u.cual standard mort~agee clause makin~ lhe lu~s ur.~1~r a~id policies, each and every, payable to said 1liortga- gee as his interesi may appear, and each ar.d e~•e:y ssn•h ~licy shall be promptly delivered to and held by said Etortgagee; and, not less than ten ciays in ad.•anoe ~f the expiration of each policy, to deliver to said Mortgagee a renewa! thereof, to~ether ~i~h a receipt for thP premium of snrh r~newal: and there shall bc no suCh ir.sur ance placed o~ any ot ~aid buildinRs, any interesi therein or part thereof, unle.~ in the form and w[th the loss pavable as a:oresaid: and in the e~•Pnt any sum of money bccomes payable under s~ich pollcy or policies said MortRa~ee shall ha~•e the opiinn io receire and apply the same on account ot the indebtedne~ secured hereby or to permit said ~fort~agor to recei~•P and uce it or any part thereof for other purposes without thereby waiving or impairing any equity. lien or ri~ht under or by virtue of this mortgage: and in the event said Diortga~or ~hall for any -eason f~il to keep the ~aid premis~s so insurod, or fail to deliver promptly any at said policiea oi insurance to said 2?tortgaRee. or faii promptly to p~y (ully anY premium therefor, or in an) respect tail to per- fotm. dischar~e, execute, etfecc. complete, coinply w-?th end abide by thiy covenant, or any pnrt hereof. said 1?tortg- ~ agee may place and pay for si~ch inaurance or any part thereuf without v~aiving or affecting any o[?~eni shall ~ equity or right under or by virtue of this mortgage, and ihe [ull amount of each and every auch paym be immediately due and pat•abte and shail bear intPrest from the date themo[ unUl paid at the cate af ten pec centum per annum nnd together with such interest shall be secured by the lien oi Wa mottga(;e. art thereof. ~ 4. To permit, commit or suffer no Keste, imrairment or deterloration of safd property or any p b. To pay all and ainRular the costs, charges and expenses, including rea4onable lawyer'a fees and cwt of abatracta ot tiUe, tncurred or paid at any time by said 1?tortgagee because and/or in the e~ent ~f the tallure on the part of the said MortgaRor to duly, promptly and fuliy perform, dfscharge, e~cecute, etfec~ complete. compiq with and abide by each and every the sttpulation~, agreement~, conditlon~ and covenants of said promis- sory note, and thi~ mortgage, any or elther, and ss?id costa, charges and expensea, each and every. ahall be Im- mediately due and payable, whether or not there be notice, demand, sttempt to collect or nuit pending: and the full amount of each and every ~ucD pa}~rnent shall bear interest from the date thereof unUl pald at the tate oi ten per centum per annum: and all eald cwte, charges snd e~[penaes so tncurnd or paid, together wit2i auch fn- t~rest, shall bs eecured by the Uen of Wa mortgage. BOOK~~9 PAGE~~pH - - - - _z, _ . . - - _ - _ "~S _a... . . ~ .