HomeMy WebLinkAbout1896 2. To pay all and singular the taxes, assessments, levies, liabilities,
obligations, and encumbrances of every nature on said described property, each
and every, and if the same b~ not promptly paid the said Mortgagee may at any
time pay the same without waiving or affecting the option to foreclose or any
right hereunder, and every payment so made shall bear interest from the date
thereof at the rate of ten per cent per annum.
3. To pay all and singular the costs, charges and expenses, including
lawyers' fees, reasonably incurred or paid at any time by said Mortgagee because
of the failure oa the part of the said Mortgagor to perform, comply with 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 rate of ten per cent per annum.
4. To keep the buildings now or hereafter on said land insured •in a sum
equal to the highest insurable value, both fire and extended coverage, in a company
or companies to be approved by said Mortgagee. and the policy or policies held by
and payable to said Mortgagee, and in the event any sum of money become 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, without
hereby waiving or impairing any equity, lien or right under or by virtue of this
• mortgage, and may place and pay for such insurance or any part thereof without
waiving or affecting._Lhe option to foreclose or any right hereunder, and each and
every such payment -shall bear interest from date at the rate of ten pex cent per
annum.
5. It will permit, Commit, or suffer no waste. impairment,- or deterio-
ration of said property or any part thereof, except reasonable wear and tear; and
in the event of the failure of the Mortgagor to keep the buildings on said premises
and those to be erected on said premises, or improvements thereon, in good repair,
the Mortgagee -may make such repairs as in its discretion it may deem necessary
for the proper preservation thereof and the full amount of each and every such pay-
ment shall be due and payable thirty (30) days after demand, and shall be secured
by the lien of this mortgage.
6. To perform, comply with and abide by each and every the stipulations,
agreements, conditions and covenants in said promissory note.
7. The Mortgagee may, at any time pending a suit upon this mortgage.
apply to the court having jurisdiction thereof for the appointment of a receiver,• and
such court shall forthwith appoint a receiver of the premises covered hereby all and
singular, including all and singular the income, profits, issues, and revenues from
. whatever source derived, each and every of which, it being expressly understood
is hereby mortgaged, as if specifically set forth and described in the granting and
habendum clauses hereof. Such appointment shall be made by such court as an
admitted equity and a matter of absolute right to said Mortgagee, and without refer-
ence to the adequacy or inadequacy of the value of the props rty mortgaged or to the
solvency or insolvency of said Mortgagor or the defendants. Such rents, profits,
income, issues, and revenues shall be applied by such receiver according to the
lien of this mortgage and the practice of such court.
8. If any of said sums of money herein referred to be not promptly and
fully paid within 30 days next after the same severally become due and payable, or
if each and every the stipulation s, agreements, conditions and covenants of said
promissory note and this deed, or either, are not fully performed, complied with
and abided by, the said aggregate sum mentioned in said promissory note shall
become due and payable forthwith or thereafter at the option of the Mortgagee as
fully and completely as if the full principal amount here secured were originally
stipulated to be paid on such day, anything in said promissory note or herein to the
contrary notwithstanding.
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