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HomeMy WebLinkAbout1915 s , . - and shall duly, promptly and fully perform, discharge. execute. effect, complete, !imply with sad abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and of this mortgage, then this mortgage and Lhs estate hereby created shall cease and be null and void. It is understood that each of the worts, ..note,.. "mortgagor" and "mortgagee" respectively and the pron- ouns referring thereto, .whether in the singular or plural anywhere in this mortgage, shalt be singular it one only and shall be plural jointly and severWy, it more than on0. and shall be masculine, feminine and/or neuter, wher- ever the context so impUes or admits. And said Mortgagor for himself and his heirs, legal npreaentatives, successors and assigns. hereby coven- aats sure agrees to and with said Mortgagee, his legal representatives, successors and assigns: ~ 1. To pay all sad singular the principal and interest and the variow and sundry aunts of money payable by ~ •irtue o! said promissory note. and this mortgage, each sad every. Promptly on the days respectively the acme severally become due. ~ Z. To pay all and singular the taxes, aaseasments, levies. IiabiliUes, obUgatioas and incumbrances of every nature and kind now on said described property. and/or that hereafter may be imposed. suffered. placed. levied or assessed thereupon, and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted- ness secured hereby, each and every. when due and payable according to law. before they become delinquent, and before any interest attaches or any penalty is incurred; and in so far m any thereof is of record the acme shall be promptly satisfied and discharged of record and the original official document . (such as, for inataACe, the tax receipt or the aaUafacUon paper officially endorsed or certified) shall be placed in the hands of said Mortgagee within ten days next after payment; and in the event that any thereof is not so paid, satisfied and discharged. acid Mortgagee may at any Ume pay the same or any part thereof without waiving or affecting nay opUOn, 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 data thereof unW paid at the rate of ten per centum per annum and together with such interest ahaA be secured by the lien of thin mortgage. , 3. To place and continuously keep on the buildings now or hereafter situate on said land fin and windstorm insurance in the usual standard policy-:arm. in a sum not less than i•-•-------------•-------•-...__ in such eom- pany or companies as may be approved by said Mortgagee: and ail such insurance policies on any of said build- ings, any interest 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 policfes, each. and every, payable to said Mortga- gee as hb 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 of each policy, to deliver to said Mortgagee a renewal thereof, together with a receipt for the premium of such renewal. and there shall be no such insur- anex placed on any of said buildings, any interest therein or part thereof. unless in the form and with the loss payable sa aforesaid; and in the event any sum of money becomes payable under ouch policy or policies said Mortgagee shall have the option to receive and apply the same on account of the ladebtedneas secured hereby or. to permit said Mortgagor to recefve and use 1t or any part thereof for other purposes without thereby waiving or impairing any equity, Uen or right under. or by virtue of this mortgage; and u1 the event said Mortgagor shall for any rcaaan fail to ktrp the said pretniars in_surrd, or fall to deliver promptly any of said policies of insurance to said Mortgagee, or fail promptly to pay fully any premium therefor, or in nay respect fail to per- form, discharge, execute, effect. complete, comply with and abide by this covenant, or any part hereof, said Mortg- agee may place and pay for such insurance or any part thereof without waiving or affecting any option, lien. equity or right under or by virtue of this mortgage, and the Nil agnount of each and every such payment shall bs immediately due and payable and shall bear interest fmm the date thereof until paid at the rate of ten per oentum per annum and together with such interest shall be secured by the llea of fhb mortgage. 4. To permit, commit or suffer no waste, impairment or deter~nUoa Ot said property or any part thereoG 6. '1'o pay all and singular the costs, charges and expenses, including r~easonabls lawyer's fees and cost of abstracts of title, incurred or paid at any time by said Mortgagee because and/or fn the event of the !allots on the part of the said Mortgagor to duly, Promptly and iWly perform. diseharg0. execute. eKect, complete. comply with and abide by each and every the atipolsUons, agreements. conditions sad covenants of raid promis- sort' note, and this mortgage. any or either, and said costs, charges and expenses„ sach and every, sbaU be lna- mediately due and payable. whether or not then be notice, demand, attempt to collect or salt pending: and the titll amount of each and every such payment shall bear interest fr'osn tlN da4 thereof until paid at the rate oz tan per ceatum per annum: and all said costa, charges sad expsasas so lactarred oiT paid. togetbsr with such ln- terwt; shall be secured by the Uen of thin mortgage. ' 80 ~1LU PAGE~~~