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HomeMy WebLinkAbout0291 AND the said Mortgagors hereby covenant and agree : 1. To pay all and singular the principal and interest and other sums of money pay- able by virtue of said promissory note and this deed, or either, promptly and on the days respectively the same severally becomc due. 2. To pay all and singular the taxes, le~~ies, liabilities, obligations, and encumbrances of every nature heretofore or hereafter imposed, placed, levied or assessed on said describ- ed property for which a lien shall exist superior in~dignity to the lien of this mortgage, each and every, and if the same. be not promptly paid the said Mortgagee may at any time pay the same without waiving or affecting the option to foreclose or any right hereunder, and the amount of every payment so made shall bear interest from the date thereof at the rate which said note bears and.shall be secured by the lien of this mortgage; the Mortgagor agree to furnish to the Mortgagee prior to April of each year receipts for all ad valorem taxes paid by the Morcgagors.. 3. To pay all and singular the costs, charges and expenses, including lawyer's fees, reasonably incurred or paid at any time by said Mortgagee because of the failure on the part of the said Mortgagots to perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants of said note and this deed, or either, and th~e amount of every such payment shall bear interest from date at the rate which said ; F note bears and shall be secured by the lien of this mortgage. 4. To keep the buildings now or hereafter on said land insured against loss by 5re ' in a sum not less than the amount of this mortgage from time to time outstanding and un- paid, or the full insurable value of such build.ings, whichever is lesser, and insured against loss by windstorm in such amount that the insured will not be a co-insurer under the terms of the policy or policies, in a company or companies approved by Mortgagee , and the policy or policies held by and payable to said Mortgagee ; in the event any sum of money becomes payable under such policy or policies, the Mortgagee sha[I have the option to Ii receive and apply the same on account of the obligation hereby secured or to permit ~the ~ Mortgagors to receive and use it, or any part thereof, for other purposes, without thereby ~ waiving or impairing any equity, lien, or right under or by virtue of this mortgage, and may ~ place and pay for such insurance or any part thereof without waiving or affecting the ~ option to foreclose or any right hereunder, and the amount of each and every such pay- ~ ment shall bear interest from the date thereof at the rate which said note bears and shall ~ be secured by the lien of this mortgage. • ~ ~ - 5. To permit, commit or su$er no waste, impairment or deterioration of said property or any part thereof. ~ 6. To perform, comply with and abide by each and every the stipulations, agree- ments, conditions and covenants in said promissory note and in this deed set forth. ~ ~ 7. If any of said sums of money herein referred to be not promptly and fully paid ~ within thirty days next after.the same severally become due and payable, or if default in F any other stipulation, agreement, condition or covenant of said promissory note and this deed, or either, shall remain uncorrected for thirty days after such default occurs, then ~M the said aggregate sum mentioned in said note then remaining unpaid, with accrued F~ interest and all other sums secured hereby shall become due and payable forthwith or there- ~ after at the option of the Mortgagee , as fully and completely as if the said sums were originally stipulated to be paid on such day, anything in said promissory note or herein ~41 ,1 to the contrary notwithstanding. ~ 8~~~ 449 ~~r,Gi9~S `J A 6o~tz92 ~ ~ ~~+1 -5- ~ ~ , - ~ - - - : ~ ~ _ ~ ~ ; d. ~ ~ ~--~a~, ~ ~ ~ " . = cw'~-~ x i ~ . ~ ~a - ~`d''