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HomeMy WebLinkAbout1667 I and shall duly, promptly and fully perform, diacharge. execute, effect, completp comply wfth and abide by each and every the stipulation~, agreementa. conditions and covenanta o[ said prorruswry note and oi thia mortgage. thea this mortgage and ti?e eatate hereby created shall cease and be null ana void. It is understood that each of tha words, "note;' "mortgagoY' and "mortgagee" respectlvely and the pmn- ouna referring thereto. wheWer in the singular or plural anywhere in thls mortgage. shall be singular 1l one only and nhall De plural joinUy and saverally. if more thau one. and ahaU be masculine~ teminine and/or neuter. wher- ever the conteut so impliea or admita And said Mortgagor for himaelf and hie heire, legal representativea, succeseors and a~slgtis~ henby oovea- ants ana sgrees to and with aaid Mortgagee„ his legal reptesentatlves. aucces9otg and ea~igas: 1. To psy all and singutar the principal and interest and the various and aundry aums oi money psyable by ~ virtue of esid promiaaory note. aad this mortgage. each and every, prompUy on the daya respectively the same aeverally become dua ' 2. To pay all aad singular the taxea, assessments. levies, liabilitie,, obllgationa and incumbrances of every nature and kind now on eaid deacribed property. and/or that hereafter may be impoaed. suffered. placed, levied or assessed thereupon, ~nd/or that hereaiter may be levfed or asaessed upon thls mortgage and/or the indebted- ness secured hereby, each and every. when due and payable acoording to law. before they become delinquent, and before any interest attaches or any penalty is incurred; and in so far as any Lhereof is of record the same shall be pmmpqy satisfied and discharged of record and the original ofCcial dceument (such aa. for instance, the tax receipt or the satiafaction paper officially endorsed or certified) ahall be placed in the hand~ of said 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 same or any part thereof without waiving or affecting any option, lien, equity or right under or by virtue of this mortgage, and the full amount of each and every such payment shall be immediately due and payable and shatl bear interest'from the date thereof unW paid at the rate of ten per centum per annum and together with such interest shell be secured by the Hen oi this mortgage. j 8. To place and continuously keep on the buildinga now or hereafter aituate on said land lire and windstorm i insurance in the usual standard policy torm, in a sum not less than =...a_,.fl~_Q_.OD--•--••-•--• in auch com- : ; pany or comp^nies as may be approved by said Mortgagee; and aU such insurance policies on any of said build- ; ings, any interest therein or part thereof, in the aggregate sum atoresaid or in excess thereof. ahall contain the ~ usual standard mortgagee clause making the loss under said policiea, each and every. payable to said biortga- f gee as his interest may appear. and each and every such policy ahall be pmmptly delivered to and held by esid Mortgagee• and, not less than ten daye in advance oi the expiration ot each pollcy, to deliver to asid Mortgagee a renewal ~thereof, together with a receipt for the premium or ~~rh renewal; snd ther~ sh~t t~ sssch insur- ~ ance placed on any af said buildings, any interest therein or part thereof. unlesa in the form and with the loas payab~e As aforesaid; and in the event any aum of money becomea paysble under such poltcy or policies said Mortgagee shall have the option to receive and apply the same on account ot the indebtedneas aecured hereby or ~ to permtt eaid Mortgagor to receive and use it or any part thereot !or other purposes without thereby waiving or impalrii?g any equity, Uen or r3ght under or by virtue of thi9 mortgage; and in the event safd~Mortgagor ahall for any reason fail to keep the said premises so fnsured, or fa[l to deliver promptly any of ~ aaid policiea o! insurance to said 1?fortgagee, or fail prompUy to pay fully any premium therefor. or in any respect fail to per- lorm, discharge, execute, effect, complete, comply with and abide by this rnvenant, or any part hereof. asid Mortg- agee may place and pay for euch inaurance or any psrt thereof without walving or affecting any option. lien. ~ equity or right under or by virtue of thls mortgage, and the Nll aq?ount of each and every such payment ahall j be lmmediately due and payable and ahall bear interest frnm the date thereof untfl paid at the rate ot ten per ~ centum per annum and together with such Interest shall be secured by the Hen oi this mortgage. i F 4. To permlt, commit or suffer no waete, impairmeat or deterioraUon oi said property or anq psrt thereol. 6. To paq ail and eingular the costs, charges and expenses, including nasonable lawyer'a fees and cost ot abatracts o! tfUe, lncurnd or pafd at anq tlme by said Mortgagee because and/or !a the eveat of the fsllurs ~ on the part of the said Mortgagor to duly, promptly and iWly peKorw, dl~chsrge, euecute, eKect, completer ; comply with and abide bq eacb and everq the atipulations, agreementa, conditloni and c,ovenants oi eaid pmmis- sory note, and this mortgsge, any or elther, and aaid costs. charge~ at~Q espeneea~ each aad every. ahail be lm- , mediately due and paqable, whether or not then be nodce, demand, attempt to aollect or suit peading; and ths !uU amount of each and every such payment ahall bear intereat from the date thereo! until paid at tde nte ot ten per centum per annum; and ail said caste. chargq aad ucpenasr ~o incure~sd or paid, togetber arftH sucb in- ~ ~~k Dy the liea o! this mortgags. ~o~K 244 P~~E1668 y - - - - - . _ ~ ` ~ `~'-~.y ~,~a~. ~ . ~..r ~x~~'`~ ~ ~ _ . . ~ ~ ~