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HomeMy WebLinkAbout0993 . . ~ AND the said Mortgagor 6ereby cov~enants and agnes: ~ i 1. To pay all aad siag~eLar th~ principal and intia~est and other awas of money Pay- ~ able by virtue of aaid promissocy noa and this doed, or either, prompdy and on the days ~P~~Y che saau severally b~comt du~e. 2. To pap all and singular the taus, levics, liabilities, obligations and enrumbrancea of_avery nature here~ofora or hercafceer imposed, placed, levied and a~s~ on said de- ~ acn~ed pr~perty, each aad ~?ecy, and if the samc be not prompdy paid priar to delinqurncy ~ the said Mortgagoe may at any timc pay the.same without waiving or affecting the opdon o~ focrclo~e or any right hereunder, and the amount of every payment so made shall bear inurest froin the date thertof at the rue which said note bcacs aad shall be aecured by th~ !im of this mortgagc; the Mortgagor agrocs co fumish to th~ Mortgagoe prior to April of esch y~car rxdpta for all ad valorcm? tazes paid by the Mortgagor. 3. To pay all aad singular the costs, charges and ezpenses, including lawyer'a fees, rcaaonably iacurnd or paid at any ~ne by aaid Mortgagee because of the failure on thc part of the said Mortgagor to perform, comply with and abide by each aad every the stip= ~~ns~ agc+eem,~ats, condiuons aad covenanes of said note and this dced, or either, and the - a:aouat of every such paymmt sha11 bear interest from date at t~e rate wluch said note bears and shall bt aoceued by t6~e lien of this morcgage. . 4. To Icoep the buildings now or hereafter on said land insured against loss by fire in a sum not kss than tht amount of this mortgage from timc to-time oustand'iag and unpaid, ~d 1~ by wiadstonn in a sum not less than 5fty per cent ( 5 0`~ ) of the {~ul( insurable value of said pramises in a companY or companies to bc approvcd by Mort- gagee, and the po4cq or policies hetd by and payabte to said Mortgagee, and, in the event any sum of money becomes papable nnder such policy or policies, the Mortgagee ~i.~lt 1,a~ thc ofltion to receive and. apply the same on account of the obligation hereby secured or t~o permit the Mortgagor to receive and use it, or any part tliereof, tor o~. p~r~es, w,ithout thereby waiving or impairing any equity, Gen, or right under or by viirtu~e of tbis mortgage, and may place and pay for such insurance or any part thereof without waiving or a$ecting the opuoa to- foreclose or any ~ight hereunder, and the amount of euh and every such payment_sh~11 1~eat interest from date at the rate. which said aote bears and shali be aecured by the lien of this mortgage. ~ ' S. To permit, commit or suffer no a?astc, imPaitment or deterioration of said pro- ' perty or any part thcreof, and to keep and maintain the building or ~wldings now located ' upoa or ~a~eafter constructed upon the pre,mises heceinbefore described in good condidon and repair, aad from time to time make such repairs, improvements or replacements upon ~d ~~~uildiag or buildings as may be necessary co keep the same in good condirion and repair. ~ 6. To perform; comply with and abide by each and every the stipulations, agree- ments, conditions and covenants in said promissorY note and in this deed set forth. If any of raid- sums of moaey heruin refernd to be not prompdy and fully paid ~,,rithin thuty days nezt after the same severally become due and payable, or if each and eve~, th~ stipulaoions, agc~etments, conditions and covenants of said promissory note and this deed, or either, at~e not duly performed, complied with and abided by, the said aggregate sum mentioned in said note then remaining unpaid. with accrued interest and k a]( o~a sums secured her~eby shall become due and payable forthwith or thereafter at ~ the opdon of the Mortgagee, as .~uUy and completely as if che said sums were originally stipulated to be paid on such day, anything in said promissory note or 6erein to the contrary notwithstanding. 8. That should suit. be brought upon this mortgagc and thc Mortgagee apply for ~ the appointment of a Receiver, the Court shall forthwith and without notice to the Mort- gagor (or othet defendants) appoint a Receiver of said propercy, including the income, profits, issues and revenues ther~from. Such appointinent shall be made as a matter of absolute right of the Morcga~ee without reference to the adequacy ar inadequacy of the value of the property mortgaged or to the solvency or insolvency of the Mortgagor. # b0~?~ ~F a~ ~ i~`~ r ° - " ~ t .,T~"~.~„~ .r, _ ' ~,~~e~`-~ ~ , ~ ~~..._...._..s~_ _ v` _ _ . .