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HomeMy WebLinkAbout0371 ' . ~ ~ y ' ~ tutd shall duly. promptly and fully pertorm, discharge, execute, effect, completP, comply w~th and abide by each and every the stipulacions. agreements, conddiun9 and covenants ot said prum?ssory note and ot this mortgage. then this mortgage and the eatate hereby created shaU cease and be null ana ~ oid. It is underatood that each of the wonla. "note," "mortgagoY' and "mortgagee" respectively and the pron- oun~ referring thereto. whether in the sinl;ular or plural anywhere in tht9 mortgage, ahall be singular if one only and shall be plutal jointly and ~everally, it more than one, and shall be mesculine, femtnine and; or neuter, wher- eve~ the conte~ct ao implies or admits. And ~aid Mortgagor tor himself and his heira, legal representatlves, succes9ors and a9slgns, hereby rnven- snta sna agrees to and with said I?iortgagee. his legal repmsentatives, successors and assigns: i 1. To pay all and aingular the princiaal a.nd interest and the various and aundry aums.ot money payable b}r Wrtue of aaid prnmissory note. and t,his mortgage. each and every. promptly on the days reapectively the same severally become due. 2. To pay all and aingular the trucea, assessments, leviea, liabilities, obtiqations and incumbrances o! everq nature and kind now on said described property, and/or that hereafter may be imposed, auffered, placed, te~~ed or asaesaed thereupon. and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted- ness secured hereby, each and every, when due and payable according to lew, before Lhey become delinquent, and before any interest attaches or any penalty is incurred; and in so far as any thereof is ot record the same shall be prompUy satisfied and discha ~ed ot record and the original ofhcial document (such as, for instance. ` ihe tax receipt or the satisfaction paper of[icially en~iorsed or certitiedl shall be plaeed in the hsnds of safd i 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 san?e or any part ihereo[ v~ithout wai~ing or affecting ~ any option, lien, equity or right under ar by virtuP of this mortgage, and the full amount ot each and every such payment ahall De immediately due and F~ayabte and shall bear interest from the date thereof until paid ~ at the rate ot ten per centurn per annum and together ~a~lh such .interest shall be secured by the lien of this ~ ~ mortgage. _ ~ S. To place and continuously keep on the buildin~a now or hereafter aituate on said land fire and windstorm ~ ~ 's inaurance in the uQual standard policy form, in a sum not less than 3... ...............~B~IIl.L1A1_...._......_._.., 1n such com- ~ ~ pany or comp^nies as may be approved by sai~l Aiort~a~~e: and nli such insurance ~licies on any of eaid buiid- « ings, any interest therein or part thereof, in the a~~re~;ate sum aforp9aid or in exce9s thereot, ahall contain the ~ usual standard mort~;agee clause makinq the luss ur:d~r a3id policie~, each and evety, payable to said Aiortga~ ' gee as his interest may appear, and each ar.d e~~ery su~•h p~licy shall be premptly delivered to and held by said ~ 1lfortgagee; and, not less than ten daVS in adran~e ~f the expiration of each policy, to dellver to aaid btortgagee ~ a tenewal thereof, toRether vrith a receipt f~r thP premium of anrh r~ncwal; and therc ~hall be no•such insur- ance placed on any of sald buildinRs, any interest therein or part thereof, unless in the form and wlth the lose e payable aa a[oresaid: and in the e.•ent any sum of money becomes payable under such pollcy or policiea said ~ MortRa~ee shall ha~e the option to ?ecei~~e and apply ttte ~?me on account ot the indebtednes~ secured hereby or ~ to permit said Dfortgagor to receive and uce it or any part thereof for other purpose~ without thereby waia~ing or impairing any equity, lien or riRht under or by virtue of this mortgage; and in the event said Mortgagor shall for any reasoa fail to keep the said premises SA insur~d, or fail to dellver promptly any of said policiea of ~ lnaurance to said I?iortga~ee, or fail promptly to p:?p fl~lly any premium therefor, or in any respect fail to per- torm, discharRe, execute, ef[ect, complete, comply ~~~th and abide bv this covenant, or any part hereof, said 11tor.g- ~ ~ • agee may place and pay for such insurance or any part thereof without kai~ing or affecting any option, lien, ~ equity or right under or by virtue of this mort~age, and the full amount of each and every auch payment shall ~ be immediately due and pa~•able and shall bear intPrest from the date thereot until paid at the rate o[ ten per z centum per annum and together with auch lnterest ahall be eecured by the lien of this mortgage. ~ 4. To permlt, commit or sut[er no Ka~+te, fmpairment or deterioratlon ot said property or any part thereot, ~ 6. To pay ail and ain~ular the costs, chargea snd expen~es, including reaaonaDle lawye~'s fees and cwt of abstracts ot title, tncurred or paid at any ttme by sald Mortgagee becsuse and/or in the svent of the fallure ~ on the part of the said Mortgagor to duly, promptly aad Nlly perfor~n. dlacharge, ea~ecute, effect. complete, f ~ rnmpiq with and sbide by each and everq the sUpulations, agreements, conditlons and covenante of said promis- ~ ~ory note. and thla mortgage. any or elther, end ~x1d costs, charga and expenacs, each and every, ahaU be im- ~ mMiately due and payabte. whether or not there be notice. demand, sttempt to collect or ault pending• and the !Wl amount of each and evrry such payment ehall bear interest irom the dete thereof unW pald at the rate oi ten per centum per annum• and all satd coets, charges snd e~cpense~ w tncurred or pald, together with aucb in- tenst, ~hall be secured by the Uen o! Wi mostgage. ~ STATE DOCUMENtARY S~7 DtP~~E'~~`U ~p QRIGlNAL d~T~ ~ BOOK ~4~ PAGE 3F1 U ~ ~ ~ _ _ ' + ~ ~ ~ . ~ , '