Loading...
HomeMy WebLinkAbout1771 i rI and shall per/onm, comply with and abide by each and every the stipulations, agreements, conditions and rnve- ~ Hants of said promissory note and of this deed, then this deed and the estate hereby created shall cease and 6e null and rwid. Provided, it is jurther covenanted and agreed by the parties hereto that this mortgage also secures the payment of and includes oll future or further advances as shall be made 6y the mortgagee herein, or its successors or assigns to or for the benefit of the mortgagors, or their heirs, personal representatives, or t assigns within twenty (20) years from the date her~eoj 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 6y this mortgage may decrease or increase /ram time to time but the total unpaid balance so secured at any one time shall not exceed the maximum principal sum of S__.._2 900._+..0...-......-..._..... together with interest thereon, and any and all disbursements made 6y the mortgagee for the payment of taxes, levies, assessments, or insurance nn the property covered 6y the lien of this mortgage, with interest on such disbursements at the rate specified herein. i~ and for reasonable attorney fees and rnurt costs incurred in the collection of any or all of such sums of money. ~ Such future or jurther advances shall be wholly optional with the mortgagee, and the same shall hear interest ' at the same rote as spedjied in the note described herein, except any amounts paid 6y the Mortgagee for taxes. levies, assessments, or insurance on the property shall 6e added to the mortgage debt, and ij not repaid to mortgagee within fifteen days after such advances, the indebtedness hereby secured shall bear interest at the ~ rate of 96 per annum, and the mortgagee may increase the amount of monthly payments required by said i Hole in order fo assure r'~'lorigagee the repayment of said advances. ~ 1. The Mortgagor hereby covenants and agrees: I i i (a) To pay all and singular the principal and interest and the various and sundry sums o money pay- able by virtue of the above described promissory rrote_._..., and this mortgage, and arty and a l renewals of ~I the same, or any part thereof, and also any and all other loans and/or advancements which may 6e made j by Mortgagee to ~~'Iortgagor, promptly on the days respectively the same severally become due. ~ (b) To pay all and singular the tuxes, assessments, levies, liabilities, obligations and encumbrances of I every nature, on said described property each and every, and if the same be not promptl3•~ir6~ the Iaort- gagee may at any time pay the same without waiving or of fecfing the option to foreclose or arr~~righl here- under and every payment so oracle shall bear interest from the date thereof nt the rate of......_._.~.Q__.._...per ' centum per annum. iI (c) To pay all and singular the costs, charges and expenses, including lawyer's fees and abstract costs (I reasonably incurred or paid at any time by the Mortgagee because of the failure on the part of the Mort- 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 such pay- meat shall bear interest from date of the rate of 10 ...............per centum per annum. j (d) To keep the buildings now or hereafter on said land insured against loss 6y fire in a sum not less ~ I than $ and against loss by windstorm in a sum not Less than S._......_..._....._ . n company or companies and through Inswance Agents or Agencies to 6e named and designated by the ij j g g policy or policies shall be held and payable to the Mortgagee. In the event any sum ~ 1?7ort a ee and the of money becomes payable under such policy or policies, the Mortgagee shall have the option to receive j~ and apply the same on account of the indebtedness hereby secured, or to permit the Mortgagor to receive I~ and use it or any part thereof for other purposes, without thereby waiving or impairing any equity, lien ! I or right under or by virtue of this deed, and the Mortgagee may place and pay for such insurance or any i II part thereof without waiving or ajfecfing the option to foreclose or any right hereunder. and each and i ' II every such payment shall bear interest from date at the rate of........~,Q..._._....per centum per annum. i I (e) To permit, commit or suffer no waste, impairment or deterioration of said properly or any part E I thereof. ` I ~ (f) That if any of said sums o money herein referred to 6e not promptly and fully paid within__..~Q._ g ~ days next after the same severally becomes due and payable, or if each and every the stipulations, agree- ~ ~ meets, conditions and covenants of said promissory note and this deed, or either, are not fully performed, complied with and abided 6y, the said aggregate sum mentioned in said promissory note, and any renewal thereof, and all indebtedness (rom Mortgagor to Mortgagee, shall become due and payable forthwith, or ~ I ~ therea ter at the option of the Mortgagee as /ally and completely as if the said aggregate sum of said in- j ~ debte~ess and said promissory note was originally stipulated to be paid on such day, anything in said - I ; I promissory note or herein to the contrary notwithstanding. j (g) Thnt in order to accelerate the maturity of the indebtedness hereby secured, because of the fail- ' ? are of the Mortgagor to pa any tax, assessment, liability, obligation or encumbrance upon saidd property, II as herein provided, it shall not 6e necessary nor requisite That the Mortgagee shall first pay the same. I t ~q j (h) To perform, comply with and abide 6y each and every the stipulations, agreements, conditions and covenants in said promissory Hole and in this deed set forth. 2. The Lien hereof shall extend to and include the use, rents, and profits of said premises, but the ~lorlgayor shall have the right to remain in possession of said premises and enjoy the use, and to receive the rents and profits ~ thereof, without accounting to the l~lorf~fayee therefor, so long as there shall be no default hereunder, provided I that in the event of any such default hereunder for a period of..._....3D..... days, the Mortgagee shall be entitled to j the possession and use of said morfnagcd premises, and to receive and apply the net rents and profits thereof. upon and toward the payment of the indebtedness hereby secured. f 1 . (1nDt 3~iiJ ,.SL 17~J ~ .yw _ ~ _ i - - r , . _ ~ - r.e