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HomeMy WebLinkAbout1400 1. To pay all and singular the principal and interest and other sums of moneq payable by virtue oi said promissory note_ and this deed~ or either, promptly on the days reapectively the same severally become due. 2. To pay all and aingvlar the tazes. assesaments, levies, liabilities, obligationa, and - incumbrancea of every nature on said described property, each and every, and if the same be not prnmptly paid the said Mortgagee~. the ir heirs, legal representatives or sssigna, may at anq time pay the same without waiving or affecting the option to foreclose or any right hereunder, and every payment so made shall bear interest frnm the date thereof at the rate of 15 per cent, per annum. . 3. To pay all and singular the costs. charges and expenses, including lawyer's fees, reasonably incurred or paid at any time by said ~ortgagee S, their l~gal representatives or assigns, because of the failure on the part of the said Mortgagor, ita aucceesora, legaP representatives or assigns, to perform, comply with and abide by each and every the atipuls• tions, agreements, conditiona and covenante of said promisaory note- and this deed, or either, and every such payment shall bear interest fram date at the rate of 15 ger cebt, per annum. 4. To ke~p the buildings ao~v or hereafter ~n ~id land insured in a sum not less than nollara, in a company or companies to be approved by said Mortgagee-, and the policy or policies held by and payable to said Mortgagee_, heirs, legal representatives or assigna, and in the event any sum oi raoney becomes payable under such policy or policies, the Mortgagee-, heirs, legal representatives or assigna, shall have the option to receive and apply the same on account o! the indebtedness herebp secured or to permit the Mortgagor to receive and use it or any part thereof for other purposes~ without thereby waiving or impairing any equity, lien or right under or by virtue of this mortgage, and may place and pay for such insurance or any part thereof without waiving or affecting the option to foreclose or any right hereunder, and each and every such payment ahall bear interest from date at the rate of per cent per annum. b. To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof. ' 6. To perform, comply with, and abide by each and every the atipulations, agreements, ~ ~ conditions and covenants in said promissory note_, and in this deed set forth. , ~ 7. If any of said sums of money herein referred to be not promptly and fully paid ~ within-1~ days next after the same severaliy become due and payable, or if each and ~ every the atipulations, agreements, conditions and covenants of said promissory note- and ; ~ this deed, or either, are not fully performed, complied with and abided by, the said aggregate ; sum mentioned in said promissory note_ shall become due and payable forthwith or there- ` after at the option of the Mortgagee~-, his heirs, legal representatives or assigns, as ~ fully and completely as if the said aggregate sum of ~O THOUSAND and no/100 dollara were originally stipulated to be paid on such day, anything in said ~ F promis~pXy, note_ or herein to the contrary notwithstanding. ~ i _.-~~.,t^` . t~~:. ~ . IN WITNF.S,S ~VHEREGF. the said party of the firs~ part has caused these ~ . ~ presents to be signed in its name by i~.9 . _ - J .J- ~ J i - ~ ,~Corporate President, and its corporate seal to be affixed, ~ - =(Seal) attested by its Secretaiy the day ~ . , _ " , ~ and year. above written. ; ~ I Atteat: ~ ~ Secretary. ~ _ ~ ~ ` Signed, aealed and delivered in the presence of :~?ND OMPANY OF ~ ~ ' ~ ~ I ~ ~ 4 ~ B / ~ R}'C NZ President. . - ~ ~ ,~e~- I /lii~ /rr~mi~nrir~ ~~rr~~,~rr~l 1~?•: . ~ 8~K244 PA~E14Q1 ~ - ~ - - - - - - = , _ s. ~ _W ~ . _ _ _ _ . ~ ~ .