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HomeMy WebLinkAbout0544 and shall dul~•, promptly and fullj• perform, dischsrge, execute, rffect, cumpletc, cumply with and abide by each and ~very• the stipulations, ~grccmrnts, conditions and rvvrnants u( said promissury notr ~nd of this mortQage~ then this mortqage and thc cstatc herrb~• ~rcated shall cesse and be oull and void. It is underst~wd that each of th~ ~+•ords, "note," "mortRagor" and "mortgaRee" respecti~~ely and the pronouns referring thrreto, ~vhcther in the singular or plural anywhcre in this mortRaqe, shall bc singular if one only and shall be plural jointly and se~•~rally, if more than one, and shall bc masculine, feminine and/or ncuter, ~vher~ver the contcxt so implies or admits. ~nd said ~lortgagor for himself and his heirs. Icgal representatiees. successors and assiqns. hereby covenants and agrees to and ~+•ith said ~tortgagee, his legal representati~•es~ successors and assigns: I. Tu pa~~ all ancl sinRular the principal and interest and the various and sundry sums of money peyable by virtue of s.+id promissor}• note, and this mortgaRe, each :tnd even•, promptly on the da}•s rrspecti~~ely the same sn~erally become due. 2. 'tu pe~• all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every naturr and kind no~v un said dcscribed property, and/or that hcrcaftcr ma~• bc imposed, sufferrd, placcd, levied or assessed thereupon. I .u~d/or that hercafter may bc tc~-icd or assessed upon this mortgaqe and/or thc indebtedness ucurcd hereby, each and every. ! ~vhrn duc and payable accordinq to la~v, before the~~ become delinquent, and brfore any interest attaches or any penalty is ~ incurrcd: and in so far as any therrof is of rccurd thc. same shall be promptly satisfied and discharged of record and the ~ uriqinal ~~ificial document (such as, for instance, the tax rcceipt or the satisfaction paper officiall~• endorsed or certified) shall b~ placed in thc hands of said ~tortgagce within tcn da}-s next after payment: and in the cvent that any thereof is not so paid, satisfied and discs_arged, said Alortgagee may at any time pay the same or any part thereof without waiving or affecting ~ any option, lien. equity or riqht under or by rirtue of this mortgaRe. and the [ull amount uf each and every such payment ` shall be immcdiately~ due and payable and shall bear intcrest from the date thercof until paid at the rate of ten per cenEum ~ p~r annum and together with such interest shall be secured by the lien of this mortRaqe. 3. "To place and continuousl~• keep on the buildings now or herrafter situate on said land fire and windstorm insuraner io the usual standard policy form, in a sum not less than the hiqhest insur;~ble value, in such cumpany or companies as may be approved b}• said 1lortgaRee; and all such insurance policics on any of said buildinRs, am• interest therein or part thercof, in the rqgreQate sum aforesaid or in excess thereuf, shall contain the usual standard mortRaRee clause making the loss under said ~wlicies, each and ever}•, payable to said ~IortQaqee as his interest may appear, and each and n•ery such policq shall be ~ promptl~• dcli<<crcd to and hcld by seid AlortRsgcr, anJ, not Icss than ten days in aJ~•ancc of the cxpiration of each policy: to ~ dcliccr to said ~1ortAaRec a rcncwal thcrcof, tog~thcr with a rcccipt for thc prcmium of wch rcncwal: and there shall bc no ~ such insuran<-e ~I3CC(I on any of said buildinRs, any interest thcrcin or part thcreof, unlcss in the form and with thc loss payable es aforesaid: and in the e~•ent any sum of money becomes payablt under such policy or policies said ~ltortgagee sha11 ~ have the option to receivc and apply the same on account of the indebtedn~ss secured hereby or to permit sa~d Alortgagor to recei~•c and use it or an~• pa:t thereof for other purposcs withont thereby waiving or impairing any equity, licn or right undtr ~ ~~r by virtue of this mortgege; and in the event said !?lortqagor shall for any rcason fail to keep thc said premises so insured, or ' fail to deliver promptl}• any of said policies of insurance to said ~fortgagee, or fail promptly to pay fully any premium therr ~ t~~r, or in any respect fail to perform, discharge, execute, effect, complete, comply with and abide by this rovenant. or any ~ part hereof, said ~tortgagee may place and pay for such insurance or any pari thereof without waiving or affecting any option, lien, equit~• or riqht under or by virtue of this mortgaqe, and the fu{~-amount of each and cven• such payment shall be immediatch~ due and payable and shall bear interest from the date thereof unt~l paid at the rate of ten per centum per annum ~ 3nd toRcthcr with such intcrest shall bc sccured by thc licn of this mortqage. x 4. To pcrmi~, commit or su(fcr no wastc, impairment or detcrioration of said propcrty or any part thrreoL . ~ _ 7~o pay all .ind singular the costs. charges and expenses, including rease~nable law}•er's fees and cost o( abstracts o( ~ title, incurred or paid at any time by said Nfortgagee because and/or in the ecent of the failurc on the part of the said illortgaqur to duly~ promptly and fully perform, discharge. execute, effect. complete. comply with and abide by each and ~ r~•cry thc stipulations. agreements, conditions and covcnants of said promissory note, and this mongage. any or either, and ~ said costs, charges and expenses, each 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 interest from the ~ , date thrrcof untit paid at the rate of ten per centum per annum: and all said costs. charges and expenses so incarred or paid. ~ t~~qcthrr ~.•ith such intcrest, shall be secured by the lien ~~f this mortgage. ~ ~ z ~ ~ ~ go~~2~7 PAGE 542 . _ , _ _ _ _ - ~s F S ~::1 ' .L~ f'ryc~~~ +c"+Nix ~3' 'r•-~ .i~9 " ~v~ ~ ~ r . . .