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Home My WebLink About0968 and shall duly. prnmpUy and fully pertorm. diacharge~ execute. effec completc~ comply with end abide bq each •nd every the st~pulations, a~reementa, conditions and covenants oi ssi~ promisaory notea and of thia mortga~e. thea thia mortga~e and the estate hereby created ahall cease end be nuA and void. It is underatood thst each oi the worda, "notea" "mortgagora" and "mortgagees" reapectivel . whether in the sIt~- ~ gulsr or plural anywhere in thia mortgsge~ shall be aingular if one only sad ahaU be plural j~ointly snd aeverally ii more th~?n one, and that !he word "their" ss used anywhere in thia mortgage s~sll De LakeA to mesn hta. her or its. ~vherever the context so implie~ or admita, The worda "promiasory notea" as used hereia~ ahall include intereat conpon notes (if pmvided tor in this mortgage) wherever the context so requires or sdmits. And the Mortgagora, hereby jointly and ~severally covenant to and with the Mortgagees: i 1. To pay all and singular the principal and intereat and the various and sundry suma oi money psysbls ~ by virtne of aaid promissory notes and thia mortgage~ each and every. prnmptly oa the daya respectively the eams ~ aeverally become due. _ 2 To pay all and singular the taxea, assessments~ levies. liabilities. obligationa and incumbnnces oi every nature and liind now on said described prnperty and/or that hereafter may be imposed. sufiered. placed. levied or asseased thereupon. andlor that hereafter msy ~e levied or assessed upon this mor age and/or the indebtedness secnred hereby~ each aad every. when dne and payable according to law. before they~ome delinqnenL~ and before any iaterest attaches or any peaalty is incurred; and in ao far sa any thereof ia of record the same aball be promptly ss~tisfied and disc~ed of record and the orif[inal ofiicial documeat (suc6 as, for instaace. the tax receipt or the ~ satiafaction paper of icially endoraed or certified) shall be placed in the hands oi the Mortgagees within ten days next after payment ~ ~ t 3. To keep the impmvementa now euating or hereafter erected on the mortgaged prnperty, insared aa may be required irom time to time by the mortgagee against loss by fire and other haaards, casualties, and contingencies in such amounta and ior snch perioda as ma~y be required by Mortgagees and to pay pr~omptIy. ahen due. sa~ ~ premiums on such insurance. AU ineurance ahall be carried in companies ~esignated by Mortgagees and the poli- ; cies snd rPne~ala thereat s~a22 ;o he2d by Ddortgsgees and have stiaE~i~i ic~etefi,o loss payaoie ciausea in iavor of snd in form acaeptable to the Mortgageee. Ia event of loas Mortgagors will give i~nraediate notioe by mail to Mort- gsgees and Mortgsgeea ms~ make proo! of loss ii not made promptly by Mort~~ rs, and each insurance company concerned ia hereby suthonzed and directed to make payment for such losa directly to Mortga~ees instead oi to Mortgagors and Mortgageea jointly~ and the inannnce prnceeda. or eaq part thereof, maq be ap~lied by Mortgagees at their option either to the tednction oi We indebtedneas hereby secured or to the reatorataon or repair o! the ~roperty damaged. In event of foreclosnre of tbis mort age or other transfer oi title to the mortgaged propert m eztinguiehment of the indebtedaeas secored hereby, a~ right~ title, a~d intereat oi the Mortga~ora~ ia and t~o any insurancepo licies then in foroe shall paas to the purchaser or grantee, appropriate credit beiag givea therefor. after, but sa of the date of snch tranafer snd delivery oi posseasion. 4. To remove or demoliah na bnilding oa said premises without t6e vvritten conseat of the Diortgagees; to ~ permit, commit or suffer no ~vaste. impairment or deterioratian of said prnperty or any part thereof~ and to keep ~ ihe aame and improvements thereon in good condition and repair. 6. That in the event the Mortgagora fail to pay and/or diacharge the tazes, assessments. levieai liabilities. ~ oWigations and incumbrancea, or fail to keep ssid premises insured or to deliver the policies~ premiuraa paid, or fail to =epair the said premisea~ as herein a~reed. the Mortgagees are hereb~r suthorized at their election to pay and/or ~ discharge said taxes. assessments, levies. liabilities. obligations and incumbrancea or any part thereoi. to procnre and pay for such insnrance or to make and pay for auch repairs. without an~? obligation on their part to determine the validity and/or neceaaity oi any thereof and without the Mor gee wsivtng or affecting any option. lieA, equity or right nnder or by virtue of this mortgage; and the full amonnt~of each und every anch payment shall be immed- iately dne and paysble and ahall bear interest lrom the date thereof until paid at the rate oi ten per centum per annnm. and, together with snch interea~ ahall be secured bq the lien of thia mortgage; but nothin~ herein contained ' shall be construed aa requiring the Mortgagees to advance or ezpend moneys for anq oi the pnsposea in thia paragraph men'oned. • ~ 6. To pay all and aiagular the costs, chargea and ezpenaes, incladiag reaaonable lawqer'a tees, lawyer'a disbursements snd cost of abstracts of dtle. incurred or paid st any time bq the Mortgagees becauae and/or in the _ event of the isilure on the part of Mortgagors duly, promptly and fnlly to pettorm~ discharge, ezecute, elfect, complete. complq with and abide by each and every the sti~nlations, agreementa~ oonditions and covenants o! : aaid promissory notes and tbia mortgage~ any or either, and sa~d coa~, charges and ezpensea, each and every, shall ± ~ be immedistely dne and paysble, whether or not there be notice, demand. attempt to collect or snit pending; and the ; I . inll amount of each and every anch payaaent ahall bear intereat irom the dste thereoi untilpa~d at the rate oi ten ~ per centnm per annnm; and aU such costs~ charQes and ezpenaes ao incnrred or paid, together with auch intereat~ ; ahall be secured by the lien of this mortgage. ; t That (a) in the event of any breach oi this mort a~e or default on the part of the Mo~ gora~ or; (b) in ~ the event any of said sums of money herein referred to be not promptly and fally paid w~'th'w 10 daqs nezt ~ after the same severally become due and payable. without demand or notice; or (e) in the event each and every the ; stiguIsaons, agreement~~ conditions and covenanta of said prnmissory noies and tnis morigage, sny or either. are ~ not duly~ promptly and fnlly performed~ diachsr~ed, ezecnted, effected, completed, complied with and abided by~ ~ or; (d) upon the rendering by sny conrt oi last reaort of a decision that an undertalcing by the Mortgagors as herein provided to pay tazes, assessments. leviea, liabilities, obligationa and iacnmbraix~es is legally inoperstive or cannot be enforced or in the event of the paasaQe of any law changing in any way or reapect the laws now in iorce : for tbe tazation o~ mortgagea or debta secured thereby for any pnrpose~ or the manner of collection oi any snch i taxes, so as to affect thia mortgage or the debt secured hereby; then~ in eiWer or any such event, the said aggre~- t gate sum mentioned in said promissory notes the~n remaining unpaid. with interest sccmed, and ell moneys secured = herebp shall become due and paqable forthwith. or thereafter, at the option of the Mortgagees, as inll~r and com- ~ pletely as if sll of the aaid snms of money were originallq stipulated to be paid on snch day, anqthu?g in aaid - pmmissorq notes and/or in this mortgage to the contrary notwithstanding; and Wereupon or thereafter, at the ` option of We Mortga$ees~ without notice or demand, anit at law or in equity. therefore or thereafter begnn, may ~ be pmsecuted as if all moneys secnred hereby had matnred prior to ita institution. 1 , f • 8. That, in the,event that at the beginning o! or at any hme pending snq snit npon thia mortgage, or to tore- close it, or to reforth it, and/or to enforce payment of any claima herenndei~ the Mortgagees ahall apply to the ' court having jurisdiction thereof for the appointment oi a Receiver anch court ahall forthwith appoint a Re- ~ ceiver of said mortgaged propertq all and singular. including all and singalar the income, pro8ta, isaues and revenues from whatever source derived each and every of which, it being ezpresaly nnderstood. is hereby mort- ~ gaged as if specificaUy set forth and deacribed in the Sranting and habendum clansea hereot~ and such ~eceiver ~ shall have all the broad and effective innctions and po~vers in any wiae entrnsted by a coart to a Receiver. and such ; appointment ahall be made by such court ae an admitted eqnity and a matter of absolnte rigbt to the Mortgageea, ~ and without reference to whether or not aaid mortgaged propertq be in whole or in part a homeatead and without reference to the adequacq or ine~dequacy of the value of the property mortgaged or to the aolvency or inaoivency - oi !he 3iortgagors andior of the defendaats, and that auch rents, profits, income. issnea and revenaea ahall be t applied bq auch Receiver according to the lien andlor eqnity of the Mortgegeea sad the practice of such conrt. ~ S 9. Dnlq, promptly and fully to perform, discharge~ execute, effect, complete, comply with and abide by each ~ snd every the stipulations~ agreementa, conditions and covenants in said promissory notes and in thia mort~age set forth. _ ' i ~ ( ~(x~ ~ TN[MILLq?11[~~-FORYII-?AGCi a00K2'~~ PACE v~/v ~ ~ u ~ ~ - - ~ w z ~s~`~"»~-'-a~''~~ ~ ~-:r ~ ~ _.Y_ , ' . s~.~~';,,r~ _