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HomeMy WebLinkAbout0324 ji + ~ . ~ '3 i ~ , ~ , ~ . ~ , i 1 3 1 ~ and shall duly, promptly and fully pertorm, d~scharge, executr, effect, completr, comply w~th and abide by each ; and e~•erp the st~pulations, agreements, condd~ons And covenants of said prom~ssory note and oi t.hi~ mortgage, then this mortgage and the estate hereby created shaU cease and be null anu ~•oid. It is understood that each oi the K'ords. "note." "mortgagor" and "mortgagee" respecGvely and the pron- ouns re[erring thereta, whether in the singular or plural anywhere in thls mor[gage, shall be singular If one only and ~hall be plural jointly and severally, if mure than one, wnd shall be masculine, teminine and/or neuter, wher- e e~•er the context so implies or admits. ~ i And sald Mortgagor tor himselt and his heirs, legal representatives, successora and assign~, hereby coven- ant~ ana egree~ to and with sa3d biortgagee, his legai representatives, succe9sors and as'igt?~: 1. To pay all and ~ingular the principal and intem~t and the various and aundry suma of money peyable by virtue of aaid promissory note, and this mortgage, each and every. prompUy on the day, re~pectively the same ~ aeverally become due. i 2. To pay all and aingular the taxes, assessments, levie~, liabilities, obli~;atiorw and incumbrances of every ~ nature and kind now on said described property, andior that herea[ter may De impwed, auttered, placed, levied 3 j or assessed thereupon, and/or that hereafter may be Ir~•ied or ~~st•ssed upon this mortgaqe andior the indebted- f ness secured hereby, each and e~•ery, when due and payable according to law, before they become delinquent~ i nnd before any interest attaches or any penxity is incurred: and in so far as any thereof ia of record the same ; shall be prumptly satisfied and dischar~ed of reconi and the onRinal o[ficial document (auch as, for instance, : ;he tax receipt or Lhe sat?sfaction paper officialiy endorved or certif~edi shall be placed in the hand~ of said ~ Mortgagee v?lthin ten days next atter payment: and in the e~•ent that any thereof is not so paid, sati9fied and discharged, said Mortgagee may at any time pay ihe same or any part thereo[ u-ithout wai~~ng or af[ecting ~ any opti~n, lien, equity or right under or by ~•~rtuP ot this mortgage, and the tull amount oi each and every ~ such payment shall be immediately due and payable and shall bear internst from the date thereot until paid z at ihe rate ot ten per ePnturn per annum and tu~eth~~r w~lh such interest shall be secured by the lien of thia _ ~ mortgage. 3. To place and continuously ke~p on the bwldmy;s now or hereafter eftuate on said land fire and windstorm ; insurance in the usual s4~ndard policy (orm, in a sum n~t less than t._. In such com- ; pany or comp^aies as ma_v be approved by aai~l :?i~~rl~a~~~e: amf all such insunnce policies on any of 9sid build- ings, any interest therein or part thereof, in the a~rnKate sum aforesaid or in excess thereof, shall contain the usual standard mort~agee clause makmR the I~~~s ur.d~r s~?d policies, each and every, payable to said Mortga- ~ gec as his interest may appear, an:i each aad e~•e;y su~~h pnl~cy shall be promptly delivered to and held by said 11lort~;agee; and, not les9 than ten days in ad~•anre of the Pxpirahon of each policy, to deliver to snid btortgagee a rene~val thereof, to~ether w•ith a receipi tnr thP prPmium ~f atlrh rnne~val; and there shall be no such insur- ance placed on any of ~aid bwldinRs, any interest thercin or part thereof, unle~s in the form and with the loss ~ payable as aforesaid: and in the e~•Pnt any sum of money becomes payable under such pollcy or policies said ; Mort~a~ee shall ha~•e the optinn to recei~•e and apply the same on account of the indebtednes~ secured hereby o~ ; to permit said Mort~GaRor to re~ei~•P and ~~ee it or any pa~t thercof for other purposes without thereby waiving : or impairing ant• equity, lien or ri~ht under or by ~•irtue of ttiis mortgage; and in the event said Mortgagor ahall ~ for any re;ism fa~l to keep the ~aid premie~s so insur~d, or fail to dellver promptly 8ny of said policie~ ot insurance to satd rinrtgaR~e, or fr?il prompUy to pay h~lly :u~y premium therefor, or in any respect tail to per- ~ torm. d~~char~e, execute, effect, complete, comply wtith and abide by thia covenant, or nny part hereof, said Mortg- ageP may place and pav tor such inaurance or any part thereof without waiving or affecting any option, lien, equity or riRht under or by virtue ot this mort~age, and the fuU amount of each and every auch payment shall ~ be immediately due and payable nnd shaU bear intPrest trom the date thereot untll paid at the rate of ten pec ; centum per annum and together with such Interest shall be aecured by the lien of this mortgage. ~ To permft, commit or euffer no Kaste, impairment or deterioration ot aald property or anq part thereot. ~ 1 6. To pay nll and ain~;ular the costs, charge~ and expenses, including resaonable tawyer's fee~ and coat of ± ebatracts ot tiUe, tncurred or paid at any Ume by sald Mortgsgee becguae and/or 1n the event ot the fatlure on the part ot the safd Mortgngor to duly, promptly and fully perform. dlscharge, ezecute, effect, complete. ; comply with and abtde by each and every the stlpulatlon~, agreements, conditlona and covenante ot said promis- eory note, and fh;~ mort~age, any or elther, and sald cost~, charge9 and e:pena~a, each and every, shall be Im- ! mediately due and payable, whether or not there be notice, demand, attempt to collect or suit pending• and ths fu11 amoen?t of each and every auch pevment ahall bear interest trom the date Wereof unW pald at the rate ot ~ Len per centum per annum; and all aatd costa, cAarges and expenses w lncurrcd or paid. Wgether wlth sucb fn• i terest, ~hall bs secured by the llea of thla mortgage. ~ r. ~ fA~ ~ ~J~ ~ ~ _ . _ .