HomeMy WebLinkAbout0563 ~
. ~
;
referring thereto, whether in the singular or plural anywhere ~
in this mortgage, shall be singular if one only and shall be ~
plural jointly and severally, if more than one, and shall be ~
masculine, feminine and/or neuter, wherever the context so implies ~
or admits. The word "collateral" shall mean all interests a~d
properties encumbered hereunder.
~
And said Mortgagor for itself and its successors and
assigns, hereby covenants and agrees to and with said Mortgagee,
_ his legal representatives, successors and assigns; ;
,
1. To pay all and singular the principal and interest }
and the various and sundry sums of money payable by virtue of 4
said promissory note, and this mortgage, each and every, promptly
on the days respectively the same severally become due.
2. To pay all and singular the taxes, assessments,
levies, liabilities, obligations and incumbrances of every nature =
and kind now on said described property, and/or that hereafter may
be imposed, suffered, placed, levied or assessed thereupon, and/or
that hereafter may be levied or assessed upon this mortgage and/or
the indebtedness secur~d hereby, each and every, when due and
payable according to law, before-they become-delinquent, and
before any interest attaches or any penalty is incurred; and
insofar as any thereof is of record the same shall be promptly
satisfied and discharged of record and the original official
document (such as, for instance, the tax receipt or the satis- ~
~
faction paper officially endorsed or certified):shall be placed ~
in the hands qf said Mortgagee within ten days next after payment;
and in the event that any thereof is not so paid, satisfied and
discharged, said.Mortgagee inay at any time pay the same or any ~
part thereof without waiving or affecting any option, lien, equity .
I or right under or by'virtue of this mortgage, and the full amount
; of each and every such payment shall be immediately due and
j payable and shall bear interest from the date thereof until paid
~ at the rate of ten per centum per annum and together with such
interest shall be secured by the lie~n of this mortgage.
3. To place and continuously keep on the buildings now
or hereafter situate on said land fire and windstorm insurance in
the usual standard policy form, in a-sum c~ot less than the highest
insurable value, in such company or companies as may be approved ~
by said Mortgagee; and all such insurance policies on any of said
buildings, any interest therein or part thereof, in the aggregate _
sum aforesaid or in excess thereof, shall contain the usual
standard mortgagee clause making the loss under said policies,
each and every, payable to said Mortgagee as his interest may
appear, and each and every such policy~shall be promptly delivered
to and held by 'said Mortgagee; and, not less than ten days in ~
~ advance of the expiration of each policy, to deliver to said
z Mortgagee a renewal thereof, together with a receipt for the
~ premium of such renewal; and there shall be no such insurance .
~ placed on any of said buildings, any interest therein or part
~ thereof, unless in the form and with the loss payable as aforesaid; r
~ and in the event any sum of money becomes payable under such policy ~
a~« 430 P~u~i323
- 3 - 600~c ~7V PA~I ~
~ -
. . w.~.~ .
_ . _ _ .
_''.§~.,r. . ~