HomeMy WebLinkAbout1425 • .t ~ t`
~rpuidrd ~ltuttya, that if said JUortgagor s/ealt pay unto the said Jlfortgagee
the certain prnmissory note, uj' which the following in words and figures is cz. true copy,
to unit: _
I See attached
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acrd shall perjoz»z, comply zcit)i acrd abide by each and ez.•ery the stipulations,
agreements, conditionw and covenants of said promissory note and of this deed, then
this deed and tlae estate hereby created shalt cease and be null and void.
~ .~1nd the said ~ilortgagor hereby covenants and agrees: '
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.1. To pay all and singular. the principal and interest and other sums of money
payable by Lzrtue of said promissory note-and this deed, or either, promptly ~?n the
days respectively the same severally come due.
To pay all and singular tlae taxes, assessments, leries, liabilities, ~~bli.6ations
and encumbrances of every nature on said described property ear•h and every, arul
if the same be not promptly paid the said Mortgagee may at any time pay the same
urithout waiving or affecting the option to foreclose or any right hereunder, and every
payment $o made shQ.ll bear interest from the date thereof at the rate of 8-1/2%----- -
per cent. per annum.
J. To pay all and singular the costs, charges and expenses. including lawyer's
fees, reasonably incurred or paid at any time by said Mortgagee because of the failure
on the part of the said Mortgagor to perform, comply uzth and abide by each and
every the stipulations, agreements, conditions and covenants of said promissory note
and this deed, or either, and every such payment shall bear interest from date at the i
I rate of --8-1/2%-~iner cent. per annum.
ij To keep the building now or hereafter on said land insrcred in a su»t not I
less than its highest insurable value------ - - -
~ -------------------------------------dollars, in a company or companies to I
be approved by said .1lortgagee, and the policy or policies held by and payable to said
Mortgagee, and i~n the event any sum of money becomes payable under such policy or
~ policies, the Mortgagee shall have the option to receive and apply the same on account
of the indebtedness hereby secured or to permit the Mortgagor to receive and use it, or
any part thereof, for other purposes, wi`,horct thereby waiving or impairing any equity
lien or right under or by virtue of this mortgage, and may place dnd pay for such
insurance or any part thereof, without waiving or affecting the option to foreclose or
any right hereunder and each and every such payment shall bear interest fi~6rrc date
at the rote of --8-1~2%- per cent. per annum.
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