HomeMy WebLinkAbout2516 and shall duly, promptiy and fully perform, desrharge, executes. rttrei, complete. ~•omply wrth and abrde by each
and e~~ery the strpulateons, agreements, condetu,ns and covenants u[ sxul pr~~m~ss•ery note and of this mortgage,
then thes mortgage and the estate hereby created shill cease and be null anu .onl
It rs understood that each o[ the words. "note," "mortgagor" and "mortgagee" respectively and the pron-
ouns referring thereto, whether in the singular or plural anywhere in this mortgage, shall be aengular it one only
and shall be plural jointly- and severally, if more than one, and shall be rna.9cuhne, feminine and!or neuter, wher-
ever the context ao implees or admits.
Md said Mortgagor for himself and his heirs, legal representatives, successors and assigns, hereby coven-
ants aria agrees to and with said Mortgagee, his legal representatives, successors and assegns:
1. To pay all and singular the principal and interest and the various and sundry sums of money payable by
virtue of said promissory note, and this mortgage, each and every, promptly nn the days respectevely the soma
severally become due.
2. To pay all and singular the taxes, assessments, levees, liabrhties, obligateons and incumbrances of every
~ nature and kind now on said described property, and nor that hereafter may be imposed, suffered, placed, levied
or assessed thereupon, andior that hereafter may br leveed or assessed upon this mortgage and or the indebted-
; Hess secured hereby, each and every, when due and payable according to law, before they become delinquent,
E and before any interest attaches or any penally es occurred: and rn so (ar as any thr•reot es of record the same
shall be promptly satisfied and descharged of rccoM and the original ofhcral document !such as, for nestance,
;he tax receipt er ;he satesfacteon paper officially emtoraed or certehedr shall be placed In the hands o[ said
E Mortgagee wethin ten days next after payment: and in the event that any thereof rs not so paid, satesfred and
discharged, said I?iortgagee may at any time pay the same or any part lhere~f without waning or affecting
( any opUOn, lien, egwty or right under or by eertuP of tMs mortgage, and the full amount of each and every
such payment shall be immediately due and payable and shall bear interest from the date thereof until paid
at the rate of ten per centurn per annum and t~geth~r weth such interest shall be secured by the lien of thin
mortgage.
3. To place and contentiously keep on the bu~lrlinl;s now or hereafter situate on said land fire and windstorm
insurance rn the usual standard policy form, in n sum riot less than = In such com-
pony or comp-firs as may be approved by said ]?inrtga~~•e: an•i all ouch rnsurance policies on any of said bwld-
ings, any enterest therein or part thereof, in the aggregate sum aforeaaed or en excess thereof, shall contain the
usual standard mnrte;agPP clause making fire Ir~~s ur~ier card polrcers, each end every, payable to Bard iltortga-
r gee as his enterest ma~• appear, and each ae:d P\•e: y sup h p~lecy shall Ae promptly dPlevered to and held by Bard
1?iortgagee: and. not less than ten dove in adranre of the Pxperatrnn of Pach policy, to deliver to Bald btortgagPe
a renewal thereof. together w•eth a receipt fir the premnem of sn~h renewal: and there shall bC no such insur-
e once placed on any of said bwldings. any interest therein or part thereof, unless m the Corm and with the Ines
pavahle as aforesaed: and in the e~•Pnt any sum of money becomes payable under such policy or policies Bard
~ Mortgagee shall ha~•e the optirrn to receive and apply the same nn ae•count of the indebtedness securM hereby or
to permit said ~tortgaFor to receive and rr~e it or any part thereof !or other purposes without thereby waiving
or impaering any equity. lien nr tight under or by virtue of this mortgage: and in the event said Mortgagor shall
for any rPasni foci to keep the said prener~PS so in?tired. or fail to deliver promptly any of said polecies of
ensue-once to soul ~t~rtgaRPe, or fait promptly to pay tally any premium therefor, or in any respect tail to per-
form. descharge, execute, Pftect, complete, comply with and abide by this covenant, or any part hereof, said Mortg-
agee may place and pay tar such insurance or any part thereof without waiving or affecting any option. lien,
equity or rght under nr by virtue of this mortgage, aril the full amount of each and every such payment shall
be Immediately due and payable and shall bear interest fmm the date thereof until paid at the rate of ten per
centum per annum and together with such Interest shall be secured by the lien of this mortgage.
' To permit, commit or suffer no waste, impairment or detertoratlon of sold property or any part thereof.
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6. To pay all and singular the costs, charges and expenses, includeng reasonable lawyer's tees and cost of
abstracts of title, incurred or paid at any time by said Mortgagee because and/or In the event of the !allure
on the part of the said Mortgagor to duly, promptly and fully perform, dUcharge, a:ecute, effect, complets,
comply with and abide by each and every the stfpulatlons, agreemenU, conditions and e:ovensnb of acid protnis-
wry note, and this mortgage, any or either, and said costs, charges and espenses, each and every. shall be Im-
mediately due and payable, whether or not there De notice, deman4 attempt to collect or suit pending: and the
3 full amount of each and every such payment shalt bear interest tram the dab thsreot unW paid at the rate of
ten per centum per annum• and alt said costs, charge sad a:penaaa so incurred or paid, together with such lo-
t tercet, shall be secwed Dy the Ilea of this mortgage.
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