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HomeMy WebLinkAbout1113 - - - _l - ...r . i } SEE EXHIBIT "A" ATTACHED HERETO AND MADE PART HEREOF, - ~ and shall duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulatior», agreements, conditions and covenants of said promissory note :t:d of this moregage, then this moztgast and the estate hereby created shall cea~.e and be null and void. It is understood that each o[ the words, "note.' "mortgagor' acrd "mortgagee" respectively and the pronouns referring f thereto, whether in the singular or plural anywhere in this mortgage, shall be singular it one only and shall be plural jointly and severally, if more than one, and shall be masculine, leminine and/or neueer, wherever the context so implies or admits. And said ~(ortgagor for himself and his heirs, legal repreurrtatives, successors grid assigns, hereby covenants and agrees to and with said Mortgagee, his legal representatives, successors 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, obligations end encumbrances of every nature and kind now on said described property, and; or that hereafter may be imposed, suffered, placed, levied or assessed thereupon, and Jor that hereafter may be levied or assessed upon this mortg-age and Jor the indebtedness secured hereby, each and every. when due and payable according to law, before they become delinquent, and before. any iuterest attaches o: any penalty is ~ incurred- and in so far as any thereof is of record the same shall be promptly satisfied•aud discharged of record and the or- iginal official document (:such as, for instance, the tax receipt or the sati•tactiou paper officially entlorsecl or certified) s}rall E be placed in the hands of said Mortgagee within ten days next after payment: and in the event that au}• thereof is not so paid, satisfied and discharged, said Mortgagee may at any time pay the same or any part thereof without waiving or atfece- ing any option, lien, equity or right under or by virtue of thrs mortgage. and the full amount of each and every such pay- i meat shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate of ten lx•r j centum per annum artd together with such interest shall be securetl by [he lien o[ this mortgage. 3. To place and continuously keep on the buildings now or hereafter situate on said lancl fire and wird~torm insur- ance in the usual standard policy form, in a wm not less than the l~i~hest insurable value, in such comlrarty or companies as may be approved by said :mortgagee; and all such inwrance policies on any of srid buildings, any iuterest therein or part thereof, 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 iuterest may appear. and each and every such polictr shall be promptly delivered to and held by said Mortgagee: and, not less than ten days in advance of the expiration of each policy, to deliver to said 1lfortgagee a renewal thereof, together with a receipt for the premium of such renewal: and these - shall be no wch insurance placed on any of said buildings, any interest therein or part thereof, unless err the form and with the loss payable as aforesaid; and in the event any sum 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 waiving or impairing an}• equity, lien or right under or by virtue of this mortgage; and in the event said Mortgagor shall [or arty mason fail to keep the said premises - so insured, or fail to deliver promptly any of said policies of insurance to said Mortgagee, or fail promptly to pay fully any premium therefor. or in any respect tail to perform, discharge. execute, effect, complete, comply with anti abide by this cov- enant, or any part hereof, said mortgagee may place and pay for wch insurance or any part thereof without waiving or affecting any option, lien, equity or right under or by virtue of this mortgage, and the full amount of each and every wch t ~ payment shale be immediately due and payable and shall bear interest from the date thereof until paid at the rate of tent per centum per annum and together with wch interest shall be secured by the lien of this mortgage. 4. To permit, commit or wfftr no waste, impairment or deterioration of said property or any part thereof. I 5. To pay all and singular the costs, charges and expenses, including reasonable lawyers sees and cost of abstracts of ~ title, incurred or paid at any time by said Mortgagee because and/or in the event of the failure on the part of the said v Mortgagor to duly, promptly and fully perform, discharge, acecute,• effect, complete, comply with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note, and this mortgage, any or either, artd ~ said costs, charges and expenses, each and every, shall be immediately due and payable, whether or not there be notice, de- wand, attempt to collect or wit pending; and the full amount of each and every such payment shall bear interest from the date thereof until paid at the rate of ten per centum per annum; and all said costs, charges and expettsts so incurred oz paid. together with wch interest, shall be secured by the lien of this mortgage. f f 8326 PA~E1111