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HomeMy WebLinkAbout1763 I I and shall perform, comply with and abide by each and every the stipulations, agreements, conditions and cove- ' Hants of said promissory note and of this deed, then this deed and the estate hereby created shall cease and be j null and void. Provided, it is further covenanted and agreed by the parties hereto that this mortgage also i secures the payment of and includes all jutur+e or jwfher advances ns shall be made by the mortgagee herein. or ifs successors or assigns to o? for the benefit of the mortgagors, or their heirs, personal representatives, or assigns within twenty (20) years from the date hereof to the same extent as ij such future advances were made on the date of the execution of this mortgage. The total amount of indebtedness that is secured by this mortgage may decrease or increase from time to time but the total unpaid balance so secured at any one time shall not exceed the maximum principal sum of S_...2.,.~~9-,.QQ.......-..._.---.-. together with interest thereon, and any and all disbursements made by the mortgagee for the payment of taxes, levies, assessments, or insurance nn the property covered by the lien of this mortgage, with interest on such disbursements at the rate specified herein, ! j and for reasonable attorney fees and court costc incurred in the collection of any or all of such sums of money. ~ I Such future or further advances shall be wholly optional with the mortgagee, and the same shall hear interest (I at the same rote as specified in the note described herein, except any amounts paid by the Mortgagee for faxes, ~ levies, assessments, or insurance on the properly shall be added to the mortgage debt, and if not repaid to mortgagee within f if teerr days after such advances, the indebtedness hereby secured shall bear interest nt the rote o °lFi er annum, and the mort a ee ma increase flee amount o monthly m meats rec uire saic I s I p f? g y 1 f d l ~ note in order to assure 1~'lortgngee the repayment of said advances. +i I The 1Mortgagor hereby cor•erranfs and agrees: =;t ~ ~ j (a) To pay all and singular the principal and interest and the d-s f~i~Gms of money pny- i ~1 able by virtue of the above described promissory note......, and thism~rorPgmty and all renetrals of the same, or any part thereof, and also any and all other loaves an~for tidv hick may be made ~ ~ by Mortgagee fo r4~ortgagor, promptly on the days respectiveYy the I~dru~ue. ~ (b) To pay all and singular the faxes, assessments, levies, liabilitiesab ' s aiirl~l~iranres of ~ ~i every nature, on said described property each and every, and if the same be ny o p IOltyi~ the ~Iorl-~ gagee may at any time pay the same u~ifhout waiving or affecting the option to foreclose or any nglrt here- . ~ under and every• payment so made shall bear interest from the date thereof at the rate o(-....~~ ..............per centum per annum. ~ j (c) To pay all and singular the costs, charges n?rd expenses, including lawyer's (ees and abstract costs ~ reasonably incurred or paid at any time by the 1~'lo?tgngee because of the (allure on the par! of the Mort- ~ I gagor to perform, comply with and abide by each and every the stipulations, agreements, conditions and ~ covenants of said indebtedness and said promissory note...... and this deed, or either, -and every suck pny- (I ~ meat shall bear interest from date nt the rate of.....1.Q ..................per centum per annwn. j ~ (d) To keep the buildings now or hereafter ore said land insured against loss by fire i?r a sum not less ~ # than and against Loss by windstorm in a sum not less ihnn 5...__....-_._...-.--------.--• in I a company or companies and through /nswance Agents or Agencies to be named and designated by the ~ c'~lortgagee and the policy or policies shall be held and payable to the 1~'lortgagee. In the event any sum 1 ~ of money becomes payable under such policy or policies, the 1~'lortgagee shall have the option to receive and apply the same on account of the indebtedness hereby secured, or to permit the i•Iorfgagor to receive j I and use it or any part thereof for other purposes, without thereby waiving or impairing any equity, lien or right under or 6y virtue o) this deed, and the :Mortgagee may place and pay for such insurance or any part thereof without waiving or affecting the option to foreclose or any right hereunder, and each and j every such payment shall bear interest from date at the rate of..--....Lfl.........-per centum per annum. E ( (e) To permit, commit or suffer no waste, impairment or deterioration of said properly or any part j ~ thereof. ~ O That if any of said sums of money herein referred fo be not promptly and fully paid within.-..~Q._ i ~ ~ ~ays next after the same severally becomes due and payable, or if each and every the stipulations, agree- meats, conditions and rnvenants of said promissory note and this deed, or either, are not fully performed, complied with and abided by, the said aggregate sum mentioned in said promissory note, and any renewal thereof, and nlI indebtedness from Mortgagor to Mortgagee, shall become due and payable forlhu•ifh, or j fherea ter at the option of the ~'lortgagee as fully and completely as if the said aggregate sum of said in- {i debt ess and said promissory note was originally stipulated to be paid on such day, anything in said j ~ promissory note or herein to the contrary notwithstanding. 'j~ of O (g) That in order to accelerate the maturity of the indebtedness hereby secured. because d the fail- ~ ure of the Mortgagor to pay any fax, assessment, liability, obligation or encumbrance upon said properly, i If: as herein provided, it shall not be necessary nor requisite that the Mortgagee shall first pay the same. j ~ (h) To perform, comply with and abide by each and every the stipulations, agreements, conditions and I I~I! I covenants in said promissory note and in this deed set forth. f~ 2. The lien hereo/ shall extend to and include the use, rents, and profits of said premises. but the t~lortgngor 'I shall have the right to remain in possession of said premises and enjoy the use, and to receive the rents and profits ij thereof, without accounting to the :11ort~fayee therefor, so long as there shall Le no default hereunder, provided j that in the event of any such defnu[t hereunder for a period of .....3Q......._days, the Alo?fga~fee shell he entitled to the possession and use of said morfungMl premises, and to receive and apply the not rents and profits thereof. f upon and toward the payment of the indebtedness hereby secured. I~ i -1760 r~;, _ .