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HomeMy WebLinkAbout0599 . ~ and shaU duh~, promptl~• and full~~ perform, discharge, execute, effect, complete, comply ~vith and abide by each and every the stipul~tirn~s, agreements, conditions and co~~enants uf said promissur}• notr and of this mortRage, then this mortgage and thr rstale hrrrb~• crrated shall cease ~nd be nult snd void. It is understood that each of the ~vords, "note," "mortRagor" and '~morty~aqee" rrspectively and the pronouns referring thereto, whciher in the singular or piural am~~vhere in this murtgage, shall be singular if one only and shali be plura! jointly and severalh•, if more than one, and sh:tll be masculine, feminine and/ur neuter, ~vherever the context so implies or admits. And said Jlortgagor for himseli and his hrirs, Iega! representati~•es, successors and assiRns, hereby covenants and aRrees to and with said ~tortgagte, his lcgai representatives, successors and assigns: i l. To pa~• ali and sinAular thr principal and interest and the a•arious and sundr~• sums of monrp payablc by ~•irtue of i seid promissor~• noic, and this murtgage, rach .u~d r~•en•, prumpil}• on the da}•s respecti~~el~• the s:unr severaUy become due. j 2. "I'o pay ~11 and sinqular the taxes, assessments, le~~ies. liabelities, obligations and incumbrances of every nature and G kind no~v on said described propert}•, and/or that hereafter ma~• be imposed, suffered, placed, levied or assessed thereupon, :uid~or that hercaftcr may bc Icvied or assessed upon this mortRaRe and/or the indebtedness seeured hereb~•, each and every, ` ~vhen ctue and pa}•sble accurding to ta~~~, before the}~ become delinquent, and before any interest attaches ur any penalt}• is = incurred: and in w far ~s sn}• thereof is uf record the same shall br promptly satisfied and discharged of record and the original official ctucumcnt (such as, for instancc, thc tax reccipt or thc satisfaction papcr officially ~ndorscd or certefied) shall ` be placed in the hands o[ said \tortgagce within ten da~•s next after paymcnt: and in the c~•cnt that anp thereof is not so ~ paid, satisfied and discharged, said ~tortg:?gce ma}- at an~~ time pa}- the same or an}• part thereof without waiving or affecting ~ an~• option, lien, equit}• or right under or by ~~irtue of this mortqaqe, and the full amount of cach and e~ery such payment ~ shall bc immcdistely duc and pa}•ablc and shall bear intcrest from thc datc thereof until paid at the ratc of ten per centum ' per um and toRether ~vith such interest shal~ be srcured by the lien of this mortqage: ' To place and continuousl~• kecp on ihe buildings now or hereafter situate on said land fire and windstorm insurance in the usual standard policq form, in a sum not less than the hiqhest insurable calue, tn such company or companies as may be h approved bt~ said :~IortRagee; and all such insurance policies on any of said buildings, am• imerest therein or part thercof, in r the df~f~f~dlC sum aforesaid or in excess thereof, shall contain the usual standard murtR.~ee clsuse making the loss under said policies, each and every, payable to said ~fortRager ss his interest ma}• appear, and erch and e~~ery such poticy shall bc ~ prompUy dclivcrcd to and hcld b~• s~id ~lorigaAcc; and, not Icss ihan tcn da}•s in advancc oC thc expiration of each polic}•, to i dcliver to said ~tortRaRee a rene~val thereof, together ~vith a receipt for the premium of wch renewal: and there shall be no such insurance placed on any o( said buildings~ an~ interest therein or part thereof, unless in the form and with ihe loss payable as afuresaid: and ire the~e~•ent any sum oi mone}' becomes payable under such polic}• or policies said l~tortqaqee shall _ have the option to receive and apply the same on account of the indebtedness secured hereby or to permit said Dlortgagor to recci~•c and usc it or any part thereof for other purposes without thereby waiving or impairing any equiry, lien or right under ~r by ~•irtue of this mortgage; and in thc event said 111ortgagor shall for any reason fai) to kcep the said premises so insured, or fail to dcliver prompU}• any of said policies of insurance to said Afortgagee, or fail promptly to pay fuUy any premium there- ; for, or in any respect fail~ to perform, discharge, execute, effect, complete. compl~~ with and~abide by this covenant, or any part herrof, said \tortgagee may~ place and pa}• for such insurance or any part ihereof without waiving or affeeting any optiun, licn, equity or right undcr or by virtuc of this mortgage, and thc full amount of each and cvery such payment shall be - immcdiatcly duc and pa}•able and shall bcar interest from the datc thercaf until paid at the ratc of ten per centum per annum and toqrther w~ith wch interest shall be secured bp the lien of this mortRaqe. ~ 4_ T~ permit, cummit or suffer no waste, impairment or deterioration ~~f said propcrty or an~• part thrreoC. _ t :f. To pa}• .?II and singular the costs, charqes and expenses, including reasoaable lawyer's fees and cost of abstracts of titlc, incurrcd or paid at any timc by said ~lortgagee because and/or in the e~ent of the failure on the part of the said - ~iortqagor to duly, promptly and fully perform, dischargr, execute, effect, complete. comply with and abide by each and ' every the stipulation~ agreements. conditions and covenants of said promissory note, and this mortgagt, any or either, and said costs, charges and expenses, cach and every, shall be immediately due and payable, whether or not there be notice, • demand, attempt to collect or suit pending: and the full amount of each and every such payment shall bear intuest from the ' date thrreof unfil paid at the rate of ten per centum per annum; and all said costs. charges and expenses so incurred or paid, tugcther ..~ith such intcrcst, shall be sccured by thr lien of this mortgage. - ~ t',~ ~~V' / - - - ~ ~ _ - , ' n . - '