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HomeMy WebLinkAbout0084 A . . and shall duly, promptly and fully peKorm, di~charg~ ex~cute, eftect, complete, comply wtth and abide Dy each and everv the stipulation~, agreemente, conditions and covenanta of said prom~ssory note and of this mortgage. then thi~ mortgage and the eatate hereby created shs!! cease and be nuU and void. It ia underatood that each of the worda. "note," "mortgagoY' and •'mortgagee" reapectively and the pron- oune referring thereto. whether in the singular or plural anywhere in thts mortgage, ahall be aingular it one only and shall be plutal jointly snd aeverally, it more than one, and shall be masculine, teminine and/or neuter, wher- - ever the context ao implies or admits. And said Mortgagor for himself and his heirs, legal representativea, successors and assigns, hereby coven- ant~ ana agrees to and with said Mortgagee. hia legal representatives, successors and avign~: 1. To pay sll and siagular the principai and lntereat and the variou~ and sundry auma ot money payable Dy virtue ot said promissory note. aad this mortgage. each and every. prompUy on the days re~pectively the same severaUy become due. - 2. To pay all aad singular the tnxes, assessments, levies, liabilities, obURation~ and incumbrances of every nature and kind now ~n said descnbed properly, and!or that hereatter may be imposed, auftered, placed, levied . or asaesaed thereupon, andlor that hereafter may be levied or assessed upon this mortgage andior the indebted- ! ness secured hereby. each and every, when. due and payable according Lo law, betore they become delinquen~ E end before any interest attaches or any penalty is incurred; and in so far as any thereo! ia ot rernrd the same i ahall be pn~mpUy satisfied and discharged ot record nnd the oriRinal official document (auch as, for instance, :he tax receipt or the satisfaction paper'officially endorsed or certifiedl ahall be placed in the handa ot sa3d Mortgagee within Len days next atter payment; and in the event that any thereof is not ao paid, satistied and . ~ discharged. said Mortgagee may at any time pay the san?e or any part lhereot without wai~ing or a[tecting ~ any option, lien, equity or right under or by ~~irtuP o[ this mortgage, and the full amount of each and every auch payment shall be immediately due and {~ayable and shall bear inlemst from the date thereof until paid at the rate of ten per centum per annum and to~ether with such interest ahall be secured by the lien of thia ~ mortgage. 3. To place and continuously keep on the bu~ldini;' now or hereafter aituate on ~aid land flre and wlndstorm insurance in the usual standard policy fnrm,- in a sum not less than 1n such com- pany or compcnies as may be approved by said 1?iort~ar~•e: and all such insurance palicies on ar?y ol ~aid build- inga, any inter~at therein or part thereof, in the a~~reRate sum a[orPVaid or in excess thereot, shall contain the usual standard mortRagee clause making the luss ur.d~r sa?d policies, each and every, payable to said Mortga- gee as hia interest may appear, and each and e~•e:y stu•h policy shaU be promptly delivered to and•held by said Mortgagee; and, not less than ten days in adran~e of the exp~ration of each policy, to deliver to snid Mortgagee a renewa] thereof, toRether with a receipt f~r thP premium of 4i~~h renewal; and there ahalt be no auch insur- k. ance placed on any of said buildinRs, any interest therein or part thereo[, unle~ in the form and with the lose ~ payable aa atoresaid; and in the e~•ent any aum of money become~ payable under si~ch pollcy or policiea said ~ Mort~aRee sha21 have the option to recei~•e and appl~• the same on account ot the indebtednes~ secured fiereby or to permlt aaid Mortgagor to rereive and use it or nny pnrt thereot for other purposes without thereby waivfng ~ or impalring any equity, lien or ri~ht under or by virtue of this mortgage; and in the event said Mortgagor shall for any reason tnil to keep the said premi~~s so inGurrd, or fail to deliver prompqy any of aaid policie~ ot insurance to said Mortga~ee, or fail promptly to p:sy [nlly any premlum therefor, or in any re~pect fa11 to per- ~ form, discharge, eaecute, effect, eomplete, comply w~th and abide by thia covenant~ or any part hereof, aaid Mortg- ~ agee may place and pay tor such insurance or nny part thereot without waiving or "affect3ng any option. 1ien. equity or right under or by virtue of thi~ mortgage, and the fup amoiint of each and every such peyment shaII be lmmediately due and payable and shall bear intPrest from the date thereot unt11 paid at the rate of ten pee centum per annum and together with auch Interest shail be eecured by the lien of Wa mortga[{e. 4. To permf~ commlt or suffer no v4aate, impairment or deterloraUoa o! sald property or any part thereof. ~ . r: b. To pay all and aingular the co~W, chargea and expenses, including reasonable lawyer's fees and cost ot abatracts ot title, incurred or pafd at -any 'time by eatd Mortgagee becauae and/or in the event of the taliurs on the part ot the said MortgaRor to duly, promptly and fully perform. dlscharge, execute, eftect, complete. ~ comply with and abide by each and every the stipulacions, agreements, conditions and covenanb of asid p~omla- ~ eory note, and Ws mortgage, anq or efther, and ~ald costs, charges and expenses, each and every, shail be Im- ~ mediately due snd payaDle, whetl~er or not there be not~ce, demand, sttempt to collect or euit pendtng- snd the ~ full amount of each and every such payment ahell bear intereet trom the dats thereof unW paid ~t the nte o! ~ tea per centum per annum• and all satd costs, chargei and ezpenses w lacurred or pald. together aith such ln- ~ tereat, ~ha11 bs ~ecured by the Uea of Ws mortgage. ' ~ °oRx 285 P~G~ ~ ~ - - - - - - ~ . _ - - ~ ' ~ - - - _ r~°„s . _ _ . _ . _ ~ ~imY°Y _ . . . .