HomeMy WebLinkAbout0621 and shall duly. promptly and tully pertorm, discharge, execut~, eftect, completP, ~omply w~th and abide by each
and everv the st~pulatiorts, agreements, condd~on~ and covenants ot ~aid prum?ssory note and of tltis mortgage.
then thfs mortgage and the estste hereby created shall cease and be null ancf ~ouL
It is underatood that each of the worJa. "note." "mortgagoY' snd "mortgagee" respectively and the pma-
ouna retemng thereto, whether in lhe singvlar or plural anywhere in thfa mortgage, ehsll be eingular it one oNy
and ahall be plurat jointly and aeverally, i[ mure than one, and shall be masculine, [eminine and/or neuter. whec-
ever the oontext ao implies or admits. .
Md said Mortgagor for hlmself and 1us heirs, legal representativea, aucces~ora and asaigris. henby coven-
ants ana agrees to and with said ]+Iortgagee, his legnl representaUvea, succ~saon and as~igns:
. 1. To pay W and singular the principal and intercst and the variou~ and aundry sums o[ money payable by
vfrtue ot sald pmmiswry note. and this mortgage, each and every. prompUy on the daya respectively the aams
severaUy becoma due.
j 2. To pay all and singular the tnxe~, as~es.~ments, levies, liabllities, obli~ations and incumbrances of evetiy
' nature and kind now on said desenbed property, andlor that herealter may be impo~ed, euftered, placed, levied
~ or aaaessed thezeupon, and/oc that herentter may be levieci or assPSSed upon this mortgage andior the indebted-
ness secured hereby, each and every, v~•hen due and payable sccorcfing to lsw, before they become delinquent~
and betore any interest attaches or any penalty is mcurred; and in w far as any thereof is o[ record the same
~ ahall be promptly aatis[!ed and dischar~ed of record xnd the on~nal ofGcial document Isuch as, tor ittstance.
Lhe tax nceipt or the satiataction paper of[icially endoraed or cerliGedl shall be placed !n ihe handa oI said
F Mortgagee within ten day~ next after ~+aymcnt; and in the evenl that any thereof is not ~o paid, aatiatied and _
discharged, aaid l?tortgagce may at. any time pay the same or any part thereot w~ithout wai~-ing or aftecting
any optiOn. lien, equity or nght under or b~• ~•~rtuP ot this mortgage, and the [ull amount of each and every
such payment ~hall be lmmediately due an~1 ~~ay:~bte :?nd shali bear interest trom the date thereot until paid
at the rate of ten per centum per annum and t~~~eth~r v?nlh such interest ~hall be aecured by the lien oi thU
mortgage.
3. To place and continuously ke~p on the bualdin~a now or hereafter attuate on aaid land fire and wfndstorm
tneurance in the u.4ua1 standard policy form, in s avm not less than _...PI~~ !n such com-
pany or comp^~ics as may be appmved by ~a~~l 1linrtfia~~~e: and nli such insurance policie~ on any ot said build-
ings, any intere~t therein or part thereof, In the a~~r.•Kate~aum aforeaaid or in exce~s thereof, ahall contain the
uaual standard mortRagee clause makmR the I~~:~v ur.dr~ ~aid policiea, each and every, payable to aaid Mortga-
gee as hia interest may appear, and ench ar.~t e~•e: y s~u-h ~~I~cy ahall De promptly delivered to end held by ssid
Mortgagee: and, not less than ten davs in a~iran~e of the Pxp~ration of each policy, to deliver to anid MortgaRee
a renewal thereof, toRether with a receipt f~r thP prrminm ~f ~~~~h r~newnl: and thPre ~hall be no suCh insut•
ance placed on t?ny of said buildinRs, any ~ntereat th~rein or part thereof, uNesa in the form and with the los~
payable as_ a[oresaid; and in the e~•ent nny aum of mc~ney becomes payable under auch poHcy or policiea asid
Mort~agee ahall have the opUon to recei~e and apply the same on account of the fndebtedness aecured hereby or
to permit aaid MortRa~or to receivP end u•e it or any p~rt thereot for other purposes without thereby waiWng
or impairing any equity, lien or riRht under or by ~irtue of this mortgage: and in the event safd Mortgagor sball
for any reason [eil to keep the safd prem~~~s so inaur~d, or tail to dellver prompUy any of said policies of
lnaurance to aaid 1?tortga~pe, or fafl promptly to p~y t:~lly any premium therefor, or in any reapect [af! lo per-
torm, diacharge, execute, effect, complete, comply ~~~th and abide bv this covenant, or any part hereot, said Mortg-
ager may place and pay for such in~urance or xny part thereof witheut vraiving or attecting any option, lien,
equity or right under or by ~irtue of this mortRaRe, and the full amount ot each and every such payment shaU
be Immediately due and payable and ahap brar int•rest from the date thereot until paid at the rate ot ten per
centum per annum end together wlth auch lnterest shall be eecured Dy the l~en ot thi~ mortgaqe.
4. To perml~ commit or suffer no w•aste, ~mpairment or deterloratton oi sald pmperty or any part thereol.
6. To psy W and singular t]~e co~ta, charqea and expenx~, including reaaonable lswyer'~ tees and cost oi
abetracts ot title, Incun~ed or pald at any time by aatd Mortgagee because and/or in the event ot the tallure
on the part ot the aafd MortgaRor to duly, promptly and tully pertorm. dischsrge, e~[ecute, effect. complete.
comply wlth and abide by each and every the stlpulations, agreements, condittoni and covenant~ of sa~d pmmL-
~ory note. and W~ mortgsge. any or either, and aaid co~ts. chuges and eupenses, each and every, shaU be !m•
medlately due and payable, whether or not there be notice. demand, attempt to collect or ault pendfng• and ths
!WI amount o[ each and every such payment ahall bear interest trom the dste thereof unill pafd ai the rste ot
tea per centum per annum; and all eatd coab. chargei and s~cpaa~ w lncurred os paf~ togett~er writh ~ucb tn-
tereat, ~hW bs ~ecured by We Uea o! thl~ mortgage.
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