HomeMy WebLinkAbout1607 - - _ - _ 136sY ~ -
Copy of Promissory Note attached hereto and made a part
hereof as Bxhibit "8".
and shall duly, promptly and fully perform. discharge. execute. effrct, complete. rnmply with and abide by each and every
the uipulations, agreements, conditions and covenants of said promissory note and of this mortga ;e. theft this mortgage and
the estate hereby created shall cease and be null and void.
It is understood that each of the words, "note;' "mortgagor" and "mortgagee" respectively and the pronouns referring
thereto. whether itt the singular or plural anywhere in this mortgage, shall be singular if one only and shall be plural jointly
and severally, if more than one, and shall be masculine, feminine and/or neuter, wherever the context so implies or admits.
And said 1lfortgagor for himself and his heir, legai rcpre+eutatites, successors and assigns, hereby covenants and agrees
to and with said Mortgagee, his legal representatives, wccesson and assigns:
1. To pay all and singular the principal and interest and the various and sundry sum, of money payable by virtue of
said promissory note, and this mortgage, each and every. promptly on the days respectively tht same ses•enlly become due.
2. To pay all and singular the taxes, assessments, levies. liabilities, obligations and incumbnnces of every nature and
kind now on said de~crihed property, and/or that hereafter may Ix imposed, suffered, placed, lewd or assessed thereupon,
and/or that hereafter may be levied or assessed upon this mortgage and/or the indebtedness secured hereby. each and every,
when due and payable according to law, before they become delinquent, and before any interest attaches u: any penalty is
incurred: and in sn tar as any thereof is o[ record the same shall be promptly satisfied and discharged of ree-ard and the or-
iginal official document (:udt as. for instance, the tax receipt or the sati••faction paper officially eudorsal or crrtified) shall
~ be placed in the hands of said Mortgagee within ten days next after pa}•ment: and iu the event that ans• thereof is not so
paid, satisfied and dixharged, said Mortgagee may at any time pay the same or arty part thereof without waiving or affect-
~ ing any option. lien, equity or right under or by virtue of thts mortgage, and the full amount of each and eery such pay-
ment shall be immediately due and pa}•able and shall bear interest from the date therm( wail paid at the rate of ten her
«ntum per annum and together with such interest shall be secured by [lee lien o[ this mortgage.
3. To place and continuously keep oft the buildings crow or hereafter situate on said lattci fire aisd srit:c!•torm insur-
ance in the usual standard polic}• form, in a sum not less than flu liihhest insurable calve, in such company or coml,anies as
may be approved by said hortgagee; and all such inwnnce policies on any of said buildings, any interest tltertitt or part
thereof, in the aggregate wm aforesaid or in excess thereof. shall contain the usual stattclard mortgagee clause making the
loss under said policies, each and every, pa}•able to said Mortgagee as his interest may appear, and each and every such policy
shall be promptly delivered to and held by said 1lfortgagee; and, not less tiwn ten days in advance of the expiration o[ each •
policy, to deliver to said Dortgagee a renewal thereof, together with a receipt for the premium of such renewal: and these
shall be no wch inwnn« placed on any of said buildings, any interest thtrcitt or part thereof, unless in the form and with
the loss payable as aforesaid; and in the event any wm of money becomes payable under such policy or policies said Mortgagee
shall have the option to receive and apply the same on account of the indebtedness secured hereby or to permit said ~fortga-
gor to receive and use it or any part thereof for other purposes without thereby waiting or impairing aft}• equity, lien or
right under or by virtue of this mortgage; and in the event said 1ltortgagor shall for arty reason fail to keep the said premises
so insured, or fail to deliver promptly any of said policies of insurance to said Mortgagee, or [ail promptly to pay tally any
premium therefor. or in any mptct tail to perform, discharge. execute, effete. complete, comply with and abide by this rns•-
en:nt, or any part hereof, said 1lfortgagee may place and pay for wch ittwnnct or any part thereof without waiting or
affecting any option, lien, equity or right under or by virtue of this 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 «ntum per annum and together with wch interest shall be secured by the lien of this mortgage.
4. To permit, commit or suffer tto waste, impairment or deterioration of said property or arty part thereof.
5. To pay all and singular the costs, charges and expenses, including reasonable latvytr's tees and cost of abstracts of
~ title, incurred or paid at any time by said Aortgagee because andlor in the event of the failure on the part of the said
Mortgagor to duly, prompdy and fully perform, discharge, ezecute. e[fecc, complete, comply with and abide by each and
every the stipulations, agreements, conditions and covettanu o[ said promissory note, and this mortgage, any or tither, acrd
said costs, charges and expenses, each and every.:ftall be immediately due and payable, whether or riot there be notice, de-
mand, attempt to collect or suit pending: artd the full amount of each and every such payment shall bear interest ftnm the
date tbereof una'1 paid at the rate of ten per centnm per annum; and all said oats. charges and expenses m incurred at paid.
together with wch interest, shall be secured by the lien o[ this mortgage.
BOOK315 P~E1605