Loading...
HomeMy WebLinkAbout0244 ; ~ 4 : : i . ~ ~ ~ t ~ ~ . ~ ~ ~ . ~ ~ ~ . ~ 4 1 { ~ p i md shaq duly. promptly and Eully perform. discharge, execute. elfect. complete, comply with and abide by each and every { the stipulations, agreements, conditions and covenants of said promissory note and of this mortgage, then this mortgage and ~ the cstate hereby crcated shall cease and be null and void. it is understood that cach of the words. "note," "mortgagor" and "mortgagee" respectively and thc pronouns referring thereto, whether in the singulu or plural anywhere in this mortgage, shalt bc singular if one only and shall be plural jointly and severally, if more than one. and shall be muculine~ feminine and/or neuter. wherevcr the context so implics or admits. And said Atongagor for himsclf and his hein, Irgal reprexntatives, successors and assigns. hereby covenu?ts and agrces to and with said Mortgagee, his Icgal rcpresentativcs. successon and assigns: I. To pay all and singular the principal and interest and the various and sundry sums of money payable by virtue of - ~ said promissory note, and this mortgage. each and every. promptly on the days respectivcly the same severally become due. f 2. To pay ali and singular the taxcs, assessments. levics~ liabilities. obligations ar?~ incumbrances of every nature and E kind now on said described property. and/or that hereafter may be imposed. suffercd. placed. levied or assessed thereupon. E and/or th~t hereafter may be Icvied or assessed upon this mortgage and~or thc indebtedness secured hereby~ each and every~ : ~ 3 when duc and payable according to law. before thcy becomc delinquent. and before any interest attachcs or any pcnalty is ; incurred: and in so far u any thereof is of record thc same shall be promptly satisCed and discharged of record and the ~ original of6cial document (such u, for instance, thc tax receipt or the satisfaction paper officially endorscd or certi~ed) shall { be placcd in the hands of said Mortgagee within tcn days next aftcr payment: and in the event that any thertot is not so ? paid. satisficd and d'uchuged, said Mortgagec may at any time pay the same or any part thereof without waiving or affecting ~ any option. lien. cquity or right undcr or by virtue of this mortgage, and the tull amount oi each and every such payment ~ shall be immcdiately due and payable and shaU bcar interest (rom the datc thereof until paid at the rate of tcn pe~ centum : per annum and together wit6 such ~nterest shaU bc securcd by the lien of this mortgagc. . ~ ~ 3. To placc and continuously keep on thc buiidings now or hercafter situate on said land firc and windstorm insurance ~ in the usual standard policy form, in a sum not less than the highest iosurable value. in such company or companies u may be i approved by said Mortgagcc: and all such insurance policies on any of said buildings, any interest thcrcin or part thereof. in the aggregatt sum aforcsaid or in exccu thereof. shall contain thc usual standard mortgagee clause making the loss under said policics. cach and every. p~yablc to said Atortgagee u his intcrest may appear. and each and evcry such policy shall be promptly dclivcrcd to and held by said Mortgagcc; and. not Icu than tcn days in advance of thc expiration ot each policy. to dcliver to said Alortgagec a rcnewal thereof, together with a receipt for thc premium of such rencwal: and thcre shall be no such insunnce placed on any of said buildings. any interest therein or part thereof~ unless in the form and with the loss payablc as aforesaid: and in the event any sum of moncy becomcs payablc under such policy or policics said 1ltortgagee shall ; have the option to receivc and apply the same on account of the indebtedncu secured hercby or to permit said bfortgagor to ; rtceive and use it or any part thertof for other purposes without thereby waiving or impairing any equity. licn or right under f or by virtue of this mortgage; and in the cvent said Mortgagor shall for any rtuon fail to keep the said prcmises so insured, or ; ~ fail to deliver promptly my of uid policirs of insurance to said Mortgagce. or fail promptly to pay fully any premium there- ~ for. or in any respect fail to perform. dischuge, caecute. effect. complete, comply with and abide by this covenant. or any ~ part hereof. said Mortgagee may place and pay tor such insurance or any part thereof without waiving or a(fecting any ~ option. lien. equity or right under or by virtue of this mongage. and the full amount of each ar.d every such payment shall be immediately due and payable and shall bear interest (rom the date thereof until paid at the nte of tcn per centum pcr annum ~ and togcther with such interest shall be securcd by the licn of this mortgagc. ~ 4. Te pertnit, commit or suffer no wute. impairment or deterioration of said proptrty or any part thercof. t 5. To pay all and singulu tht costs, chuges and eapenxs. including reasonable lawycr': fecs and cost of abstncts of ~ titlc. incurrcd or paid at any time by said Mortgagee because and/or in thc event of the failure on the part of the said ? Mortgagor to duly, promptly and fully pcrform, d'uchuge~ execute. e[fcct. complete, comply with and abide by each and cvery the stipulations. agreements. conditions and covenants of said promissory note. and this mortgage, any or either, and said cosis. chuges and expenses. each and every, shall be imaied'utely due and payable. whether or not there be notic~. i demand. attempt to collect or suit pending; and the full amount of each and every such payment shall beu interest from thc , , date thcreof until paid at the rate oi ten per centum pe~ annum: and all said costs. c6uges and expenxs so incurred or paid. togcther with such intcrest. shall bc secured by the licn of this mortqage. ` i BooK 419 ~~cEi414 ~ a~zss ~ z~ ~