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HomeMy WebLinkAbout1680 and shall duly, promptly and fully perform, d~scharge, ex~rutP, effect, completP, ~~omply w~th and abide by each and e~~ery the st~putations, agreements, condR~ons and covenants of srud prom~s~ory note and of tttis mortgage, then this mor[gage and the estate hereby created shall cease and be null ana ~•oid. It ~s understood that each of the wor~s, "note," "mortRagor" and "mortgagee" respectl~~ely and the pron- ouns rnferring thereto, wheiher in the singular or plural anywhere in thls mortgage, shall be singular i[ one only and shall be plural jointly and severaliy, if more than one, and shall be magculine, fem~nine and/or neuter, wher- ever the context so implies or admits. ~ Md said Mortgagor tor himaelf and his heirs, legal representati~es, successors and assigns, hereby coven- ' ant~ ana agmes to and with said biortgagee, hi~ legal representatives, successora and assigns: ~ 1. To pay all and singular the principa! and internst and the various and aundry sums of money payable by ~ virtue of said promissory note, end this mortgage, each and every. prompUy on the day~ respectively the same ~ aeverally become due. ~ 2. To pay all and ~ingvlar the caxes, as.sessments, levies, liabilities, obliRations and incumbrance~ ot every ~ nature and kind now on said described property, and!or that hereatter may be imposed, auftered, placed, levied ~ or assessed thereupon, andior that hereafter may be le~•ied or ass~~ssed upon this mortgage andlor the indebted- ; ness secured hereby, each and every, v~hen due and ~~yable accorri~nq to lau, before they become delinquent, 3 and before any interest aitaches or any penalty is incurred; and in so far as t?ny thereof is of record the same ? shall be promptly satisfied and dischareeci of record and the onRinat off~cial document Isuch a~, for instance, ~ :he tax receipt or the satisfaction paper of[iciaqy endorsed or rertif~ed? shall be placed in the hands of said ; :?tortgagee within ten days next after payment: and in the event that any thereoi is not so paid, satisfied and ~ discharged, said riortgagee may at any time pay the same or any part thereot w-ithout wai~ting or affecting A any option, lien, equity or right atider or by ~~~rtuP of th~s mortgage, and the full amount of each and every ~ such payment shall be immediatPly due an~1 F~ayabte :?nd sh~li bear intcrest from the cinte Lhereof until paid * at the rate of ten per ceaturn per annum and to~eth~r w~th such interest shall be secured by the lien of thia ' mortgage. ~ n 3. To place and continuously ke~p on the bu~ldm~;s now or hereatter situate on'said land tire and windstorm ~ insurance in the u~ual standard policy form, in a~vm n~t less than s 6, 5~• oo , 1n such com- ~ pany or comp'~aies as may be appm~~ed by sa;~1 Afnr±;;a~~~e: .in~l all such insunnce policies on any of said build- ings, any interest therein or part thereof, in the a~~m~ate sum aforPaaid or in excess thereot, shall contain the ~ usuai standard mnrt~ageP clause makin~ the l~~~s ur.d~~r s:i~d po6cies, each and every, payable to said 1liortga- _ gee as his ~nterest may appear, an~i each a::d e~•e; y su~ h pnlicy 9hali be promptly deli~•ered to and held by said ~ Diortgagee; and, not less than ten days in adt~an~•e ot the Pxpiratinn of each policy, to deliver to said btortRa~ee ~ a rene~val thereof, to~ether w•ith a receipt t~r thP prPm~um ~f anrh rrnewal; and thPre shall be no s~ch insur- ance placed on any ot said buildinRs, any ir.terest th~rein or pari thercof, unleas in the form and with the loss payabie as atoresaid; and in the e~•Pnt any sum of money becomes payable under such pollcy or policiev said MortRa~ee shaA ha~•e the option to recei~•e and apply the same on account o[ the 3ndebtednes~ secured hereby or ; to Fwrmit said liort~a(:or to re~ci~•~ and use it or any part thercot for other purposes without thereby waiving or impairing any equity, lien or ri~ht under or by ~irtue of this moctgage: and in the event 9eid Morigagor ~hall ' ~ tor any renso? f:+i1 to kP~p the said premi,rs so insur~d, or fail to deliver prompUy any of said policies ot insurance to said at~rt~aRee, or fnil prompUy t~ p~y f~~liy :tny premium theretor, or in any re~pect faii t^ per- torm, diechar~e, execute, effect, complete, comply w~th and abide by this covenant, or any part hereof, ~aid Aiortg- ageP may place and pay for such inaurance or anv part thereof without waiving or a[fecting any option, liPn, equity or nRht under or by ~•iriue of this mortRa~e. an~ the fult amount ot each and every auch payment shall be fmmediately due and pa}•abie and shall bear intorest tmm the date thereof until paid at the rate of ten per ' centum per annum nnd together with such fnterest shall be eecured Dy the lien of this mortgage. 4_ To permSt, commit or sufter no wa~te, impairment or deterioratlon of sald property or any patt thereot. 6. To pay all and sinRular the costs, charRes and expenses, including reawnable lawye~e fee~ and cwt o! abstracte ot title, lncurred or paid at any time by ~ald Mortgngee becau~e and/or ln the event of the failure on the part of the said MortgaRor to duly, promptly and fully peKorm, diecharge, ea~ecute, ettect, complete~ T~ comply with and sbide Dy each and every the sUpulation~, agreement~, condiUons and covenanta ot aaid promis- eory note, and this mort~age, any or elther, and said costs, charges and expenae~, cach and every, ~hnll be Im- - mediately due and payable, whether or not there be notice, demand, attempt to collect or sult pending: and the full amount of each and every such pavment ahall beer interest trom the date thereof untU pafd at the rste o! - ten per centum per annum: and all a81d costa, chargea and expenaea ~o iacurred or pai~ togethar wtth auch fn- terest, shall be secured by the lien ot Wa mortgage. ~Ej eooK 2~~ e~?Gf 1679 ~ ~ . - _ ~ ~ ~ ~ ~.r.,~~ ' '