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HomeMy WebLinkAbout0695 1?nd shall duly. promptly and [ully per[orm, d~acharge, execut~, et[ect, completP, r.ompiy w~th and abide by each and everp the stipulations, agreemenLs, cond?tio:i~ and covenan!s ot s.vd prum~ssory note and ot thi~ mortgage. then thi.s mortgage and the estate hereby created shsll cease and De null and toid. It i~ underatood that each o[ the wonl~. "note." "mortgagor" and "mortgagee" respectively and the pron- ~ oun~ referring thereto. whether in the s~nRular or plural anywhere ~n thts mortgage, ahall be e~ngvlar 1t one only and shal! be plural jointly and stverally, if mure than one, and shall be mnsculine, feminine and/or neuter, wher- ever tht context so implies or admits. . ~ And said MoKgagor [or him~elt and his he~r~, legal representatives, succe~sor~ and ~ssign+. he;eby rnven- ants ana agreea to and w~th aaid I?iortgagee. hi~ legal representat~ves, Su~cessOf9 8~d 8s~ig7~9: , 1. To pay all end singula~ the princi?al and internat and the variow and aundry ~um~ of money payable bJr virttie of said pmmisaory note, and this mortgage, each and every, promptiy on the day~ mspectJvely the sam~ severaUy becom~ due. ' 2. To pay all and singutar the taxe~, asaessments, levie~, liaEilitie~, obliRation~ and incumbrancw of every ~ nstun and kind now on said descnbed property, and/or that hereafter may be imposed, auttered. placed, le~~ed ' ar Zsaessed thereupon. andlor thai hereatter may be lev~ed or a.~sPSSed upon this mortgage and/or the indebted- I neas secured hereby. each and every, when due and payable arcord~ng to law. Detore they become delinquent, and betore any interest attaches or any penalty i~ ir.curred; and in so [ar a~ any thereof is of record the same j shall be promptly satistied and discharoed ot record nnd the onRmal otl~cial document (~uch a~, lor instance. the tax receipt or the satiatnction paper oft~cially emior9ed or certifiedl ~hnll be placed !n the hand~ ot said Mortgagee within ten day~ next after payment; and fn the event that any thereof is not so psid, satisf~ed and dlscharged. asid Mortgagee may at any time pay the san?e or any part therec?t w-ithout wai~ing or a[fecting any option, llen, equity or right under or b< <•~rtuo ot thia morigage, and the full amount of each and everq such payment ~haU be immediately due and payabte and shall bear interest from [he date tAereot uRtil paid E at the rate ot ten per ceniurn per annum and t~~~rther w-ilh such interest shall be aecured by the liea of thii mortgaga ~ 3. To place and continuously kePp on the bu:ld,n;,~ now or hereaiter altuate on ~atd land tire and windstorm ~ inaurance in the LL~ual standard poli~y form, in e surti nM less than s_. Maximum . 1n ~uch com- pany or comp^n'ses as may be approtcd by c1:~1 ~i~,rt~~_re: ar, f;?11 such insurance pniicie~ on any of a3id build- inga, any intereat therein or part thereof, in the afi;r.~~ate surt~ atorvaa~d or in exces~ _thereof, ~haU contain the usual standard mort~agee cla:ise mak~n~ t!ie 1::~, ur~l~•r s:?~d pot:cies, earh end e~ery, payable to said ATortga- ~ gee as his interest may appear, and each ar.~l P\'P: Ste~~h pnhcy shail be pro:npUy Qelivered to and held by said 11lortgagee; and, not less than ten ~fays in ad~anre n! the expiration of each policy, to deliver to said llter[Ragee s renenaf thereof, toRether uith a receipt f~r thr prPmium rf ai~~h r~newal; and thPre shall be no such insur- ~ ance placed on any of Qaid buil~fin~s, any intrrect thPrein or p~rt thercot, unle.~ in the torm and v~~th the lo+a payable as atoresaid; and in the e~ent an~ sum of rn~~ney become~ payable under ~~~ch pultcy or ~iicies said ~ Mort~aRee shall ha~-e the option to re~ei~~e and a~~~!y the samr on account ot the indeDtedneaa secure~t hereby or E to ~wrmit sa:d ~iort~aFor to recei~•r arni nse !t or any part~ thereot for oth~r purposes w~thout thereby ~~•aiving ~ or impairin~ any equity, lien or riRht unde: or by ~•~rtue o( this mortgaRe; and in the event safd I?1ort~aKor ahall for any rPas~n [ail to keep the ~aid pr~mia~•s sn in~ur~d, or tail to delh•er promptly any of said policie~ ot ; insurance to sa~d Dtortga~ee, or fail promptly to p~y [ully any premium therefor, or in any re~pect tail lo per- i form, discharge, execute, etiect, complete, cumply ~.:th and aA~de by thi~ co~•enant, or any part hereof, ~aid ~tor:g- aqte may pla~P an~l pay fnr such in~urance or nny part th~r~of ithnut vrafving or sf(ecting any op;ion, liPn. equity or riRht under or by ~•~rWe of this mort~;a~c. an~ the futl aruount of each and e«ry such payment ahaq ~ be Imrrtedialely due and pat•able anJ shall brer intPrP~t trom the dnte thereof untfl patd wt the rate of ten per centum per annum and together with ~uch lnterest shall be aecur~d by the lien of thls mortga~e. 4. To permlt, commit or aufter no a-eate, ~m, zirment or deterioratfon ot ~ald property or any part thcreof. 6. To pay all and singular the co~t~, charRee an~i e!cp!nxi, includ~ng reawnable law-yer'e tee~ and co~t of f aDstract~ o[ title, fncurre~l or pafd at any tlme by satd ~tortRa~ee because end~or fn the event of the faflure ~ on the part of the satd M.?rtgaKor to d~~ly, promptl}• and Nlly perform, dtscharge, execute, etfect. comFlete. comply with and ablde by each nnd every the ~ttpulation~, agreement~, condiUon~ and to~enanta o[ +a:d promta- ~ ~ory note. and W~ mortRage, any or etth~r, and ~ald co3t~, chargea and e~cpen~e~, ~ach and ev_ry. ~hall be Im- ~ mediaVly due and psy~ble, wh•th~r ~r n~t th•r~ t+: ~n!:r.+, r}T~~n~_ ttt•mpt to coqect or sult pendin~: and ths full smount ot earh and every auch peyment ~hntt ~ear t::tere~t trom the dats thereoi untll pald at the rate ot ten per centum per aiu~um; and all aald co~te, charge~ end expeaee~ so lncurred or pal~ together wlth such fn- teres~ ~hW bs eecured Dy the Ilea ot Lh1s mortgsge. P . ~ 10~01c PACE ~ 6 7U t .