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HomeMy WebLinkAbout0735 and shall duly. prompqy and tully perform, discharge, execute, ef[ect, completP, romply w~th and abide by each and eYery the atipulationa. agreemenL+, cond~tiosu and covenants of srud prom~s~ory note and of this mortgage. then this mortgage and We estate hereby created shall cea~e and be nul! end vo~d. It is understood that eacD of the wonla. "aote," "mortgagai" and "mortgxgee" respectively and the pros~- ouns referring tLeret0. Whether in the aingular or plural anywhere ln thts mortgage. shall be singular it one only and ahall be plural ~ointly and severally. iE more than one, and ahall be masculine, feminine and/or neuter. wher- ever the oonteat aa implies or admita. " And said Mortgagor for himaelt and his heirs, legal representati~es, succeswrs and assigns~ hereby coven- anta ana egrees to and arith aaid Mortgagee. his legal representatives. succesaors and assigns: 1. To pay ail an3 aingular the principai and interest and We various and aundry suma ot money payable by vlrtue of said prorr~ssory aote, snd Ws mortgage, each and every. pmmptly on the daya re~pectively the same severally become dne. 2. To pay all and singular the trixes, bssessments, levie~, liabilities, obtiRations and incumbrances of every nsiure and kind now on 9aid deacribed prnperty, endlor that hereafter may be imposed, suffered; placed, le~tied or aseeaaed thereupon. and/or that hereatter may be levied or essessed upon this mortgage and/or the indebted- neas secuted heseby. each and every. when due and payable acrnrding to law, before they become delinquent, and before any interest attaches or any penulty is incurred; and in so far as any thereof is uf record the same shall be prumptly satisfied and discharged of record and the original otticial document (such aa, for instance, ihe ta~c nceipt or the satisfaction paper ofticialiy endorsed or certifiedf shall be piaced in the hands of said Mortgagee within ten days next atter payment; and in the event that any thereof is not so paid, satistied and discttarged, said Mortgagee may et sny time pay the same ar any part thereot ~s~thout wai~~ing or atfecting any option, lien, equity or right under or by ~ iriuP of this mortgage, and the tull amount of each and every ~ auch payment ahall be immediately due and payable and shall bear interesi from _ Lhe ds?te thereo[ until paid at the rate ot ten per centum per annum and together K1lh such interest shall be secured by the lien of this mortgage. 3. To place and continuously kePp on the buildin~a now or hereatter aituate on said land fire and windstorm f ' inaurance in the ~~ua1 standard policy form, in a sum not less than ; .............~$X~U111....--.----•..•--•---••. ~n auch com- ~ pany or comp^nies as may be approved by said biort~~~ce: anci all such insurance polieiea on arty of said build- j ings, any intereat tttecein or part thereof, in the a~~regate sum atornsaid or in exce9s thereot, ahall contain the usual atandard mortgagee clause makinR the lu~s ur.d~r sa~d poticiea, each'and every, payable to said Mortga- ` gee as his interest may appear, and each and e~•ery sw•h pMicy shail be promptly delivertd to and held by said I ~Mortgagee• and, not les~ than ten days in ad~•anre of the expiration ol each poUcy, to deliver, to anid Mortgagee a renewal ~thereof. toRether with a receipt f~r thP prpmium ~f m~rh rPnewal: and there shall be no auch iasu~- ~ ance placed on any ot said buildings, any interest therein or part thereot, unless in the form and wfth the lws i payable aa a[oresaid: nnd in the event any sum of money becomes payable under auch pollcy or policies said Mortgagee ahalt have ihe- optSon to recei~ e and apply the ~ame c~n account of the indebtednesa aecured hereby or ' to permit said Mortgagor to receive and u~e it or any part thereof for other purpoxs without thercby waiving or impairing any eqnity, llen or riRht under or by rirtue of this mortgage: and in the event said Mortgagor ahall for any reason tail to keep the said premi~es SA iaaured, or tatl to deliver promptly eny ot said policie~ o! insurance to said rlortgaRee, or fai) promptly to pay tnlly any premium therefor, or in any respect tail lo per- form, diacharge, execute, ettect, complete, comply with and abide by thia covenant, or any part heteof, said Mortg- agee may place and pay [or such insurance or any part thereof without waiving or aitecting any option, 9ien. equity or right under or by virtue oi this mortgage, and the full amount of each and every such payment ahall be immediately due and pa)•able And ahell bear intprest fmm ihe date thereof unttl paid at t2?e rete oi ten per cenhun per annum and together with auch interest ahall be eecured Dy the lien of this mortgage. 4. To permit, commit or auffer no ab+te, impairment or deterioratioa of sald property or sny ~art thereof. 6. To paq all and eingular Ne coats, chargea and expense9, including reasonable lawyer's tees and cwt o! abstracta ot tttle. tncurred or paid at any time by safd Mortgngee becaux and/or in the event of the tailure on the part ot the said Mortgagor to duly, promptly and 1Wly perform, dlscharge, execute. effect, complete. comply arith and abide by each and everq ihe stlpulations, agteements, condidoas and covenante of aaid promis- wry note. and this mortgaga anY or elthe~. and ~afd costs, charges and eapenaes, each snd everq, ahsll be fm- ' mediately due and payable, whether or not thece be notice. demand, attempt to collect or suit pending: and ths iWl amount of each and every such payment shall bear inter~st irom the date thereot until patd st the rate ot ' tea per centum per annnm: and all eatd coeta, charges and expeaser w lncurtM or Qaid. together with such in- terest, ~hW bs ~ecured by the liea o! thls mortgage. BOOK~~~ PACE 7~V ~ w - ~ K,~~ ~ ~ , ~ ~ ~ - ~~,~t . _ ~ _ .