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HomeMy WebLinkAbout0630 . , . _ .i...~__ _ _ ~ _ ~ _ _ - - - - - _ - SEE EXHIBIT "B" ATTACHED HERETO AND MADE A PART HEREOF. and shall duly, promptly and fully perform, discharge. execute, etftct. rnmplete. comply with and abide by each and every the stipulations, agreements, rnttditiotts and rnveaants of said promissory note and of this mortgage. then this mortgage and. the estate hereby created shall cease and be null and void. Ic is understood that each of the words, "note." "mortgagor" and "mortgagee" respectively and the pronouns referring thereto, whether in the singular or plural anywhere in this mortgagt. shall be singular if one only and shall be plural jointly and severally. if more than one. and shall be masculine, feminine and/or neuttr, wherever the context so implies or admits. And said 1?tortgagor for himself assd his heirs, legal representatives. successors and assigns, hereby covenants and agrees to and with said titortgagce, his legal representatives. suaessors and assigns: 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 on the days respectively the same severally become due. 2 To pay all and singular the taxes, assessments, levies, liabilities, obligaciorts and incumbrances of every nature and i kind now on said described property. and/or that hereafter may be imposcd. suffered, placed, levied or assessed thereupon, ~ and/or that hereafter maybe "levied or assessed upon this mortgage and/or the indebtedness secured hereby, each and every, 4 when due and payable according co taw, before they become delinquent, and before any interest attaches or any penalty is incurred: and in so tar as any thereof is of remtd the same sball be promptly satisfied and discharged of record and the or- iginal o[ficial document (such as, for instance, the tax receipt or the satisfaction paper of[icially endorsed or certified) shall be placed in the hands of said Mortgagee within ten days next after payvnent: and iu the event that any thereof is not so paid. satisfied and dixharged, said Mortgagee may ac any time pay the samc or any part thereof without waiving or affcct- ~ ing any option, lien, equity or right -under or by virtue of this mortgage. and the Lull amount of each and every such pay- ment shall be immediately due and payable and shall bear interest Itom the date tlctrtof until paid at the rate of tctt per centum per annum and together with such interest shall be secured by the lien of this mortgage. 3. To place and continuously keep on the buildings now or herea[ter situate on said land [ire and wind+torm insur- ance in the usual standard policy form, in a sum not less than the highest insurable value. in such company or companies as may be approved by said Mortgagee: and all wch itsurance policies on any of said buildings, any interat therein or part theroo[. in the aggregate sum aforesaid or in excess thereof, shall contain the usual standard mortgagee clause making the loss under said policies, each and every, payable to said Mortgagee as his interest may appear. and each and every such policy shall be promptly delivered to and held by said Mortgagee; and. not less than ten days in advance of the expiration o[ each policy, to deliver to said 1?fortgagee a renewal thereof. together with a receipt for the premium of such renewal: and there shall be no such insurance placed on any of said buildings, any interest therein or part thereof, unless in the form and with the loss payable as aforesaid: and in the event any sum of money bccomes payable under such policy or policies said 1?fortgagee shall have the option to receivt and apply the same on amount of the indebtedness secured hereby or to permit said llfortga- gor to receive and use it or any part thtrco[ for other purposes without thereby waiving or impairing any equity. lien or right under or by virtue of this mortgage: and in the event said Mortgagor shall [or any reason fail to keep the acid premises w insured. or fail to deliver promptly any of said policies of insurance to said 1?fortgagee, or tail promptly co pay fully any premium tbercfor, or in any respect fai! to perform, discharge. txecute, effect, complete. comply with and abide by this cov- enant, os any part hereof, said Mortgagee may plate and pay for such insurance or any part thereof without waiving or a([ecting any option, lien. equity or right under or by virtue of this mortgage. and the full amount of each and every sudt payment shall be immediately due and payable and shall bear intereu from the date thereof until paid at the nce of ten per centum per annum and together with such interest shall be secured by the lien of this mortgage. 4. To permit, commit or softer as waste. impairment or deterioration of said property or any part thereof. 5. To pay all and singular the coats, charges and expenses, including reasonable lawyer': fees and Lost of abstracts of title, incurred or paid at any time by said Mortgagee bepuse and/or in the esenc of the failure on the part of the said 1ltortgagor to duly, promptly and fully perform. discharge, Mute. tffea, complete. comply with and abide by ach and every the stipulations, agreements, conditions and covenants of said promissory note. and this mortgage, any or either, and :aid costs, charges and expenses, tech and every, shall be immediately due and payable. whether or not there be notice. de- mand, attempt to collect or suit pending: and the Iull amount of each and erery such payment shall bear inttrtst from the date thereof tmtll paid at the rate d tm per centttm per annum: and all :aid cotta, charges sad e:peasea sD lawre+ed aft paid. together with such interest. shall be secured by the lien of this mortgage. SOKeK?tJ PAGE