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HomeMy WebLinkAbout2372 ~ I, - i I 1. To pay all and singular the principal and interett and other sums of money payable by virtue of said promissory note- and this deed, or either. promptly on the days respectively the same severally become due. _ t. To pay aU and singular the taxis, aaausmenta, levies, liabditiu, obligations, and eneum- brancu of every nature on said ducribed property. each and every, and if the earns be not prompt. ly paid the said Mortgagee, h { r legal representativu Or assigns, may at axtr I time pay the same without waiving or affecting the option to foreclose or any right hereunder, 1~ and every payment ao mach ahaR bear interut from the date thereof at the rate oJ13__par cent. per a~papf?. I~ j s. To pay all and singular the costa, charges and expenau, including lawyer's feu, reason- ` ably incurred or paid at any time by said Mortgagees-, .their ors, legal repruentativu or assigns, because of the fas7ure on the part of the said Mortgagor, t Pty- legal repruentativu or auigna to perform, comply urith and abide by each arui every the stipulations, agreements, conditions and covenants of said promissory note and Chia deed, or either. and j every such payment ahaII bear interest from date at the rate of_.13_ per cent. per annum. 4. To keep the buddinga now or hereof tar on said land insured in a sum not leas than If FIFTEEN THOUSAND and o0/100----______~__~._.__~oUars, in a company or companiu to be approved by said Mortgagee, and the policy or policies held by and payable to said Mort- gagee s-~-. their 1~+ra, Iegal repruentativea or assigns, and in the event any sum of money becomes payable under such policy or poiieiea, the Mortgagees, their !I era, legal repruentativu or asaigrta, shall have the option to receive and apply the same on account of the indebtedneaa hereby secured or to permit the Mortgagors to i receive and use it or any part thereof for other purposes, without thereby 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 the option to foreclose or any right I' hereunder, and each and every such payment shaA bear interest from date at the rate of_13_- I per cent: per annum. ~ 5. To permit, commit or suffer no waste, impairment or deterioration of said 1»'o~riY~ m" CHI i part thereof. I I 6. To perform, comply with, and abide by each and every the stipulations, agreements, con- , ditions and covenants in Said promissory note-, and in this deed set forth. 7. If any of said sums of money herein referred to be not promptly and fuuy paid within thirty Sys next after the same severally become due and payable, or if each and every the stipulations, agreements, cmulittona and covenants of said promissory note and Chia deed, of either, are not fully performed, eom led with and abided pi by, the said aggregate sum mentioned in said promissory note- shall become due and payable forthwith or thereafter at the option of the Mortgagee, their heirs, legal representatives or assigns, as fully and completely as if the said aggregatt sum of Eighty-Five Thousand and No/100 ($85.000) doUara were originally stipulated to be paid on such day, anything in said promissory note- or herein to the i contrary notwithstanding. ji ~ IN WITNESS WHEREOF, the said Mortgagor, have ~eunto set their ~ hand G and aeal~the day and year first abov 't t ~ j i~ Sign delivered in presence of us: (Seal) i` 't H. cCall iI ~I C,~.l..~„~ y a. c ~ (seal) I~ /%u I~uln~nu•~~l prr~arr•,1 /y: G. Emmett McCall 6~'1K~~ PIlGE~e ~ %~~/~/n=Suite 201, 134 S. Stratford Rd. , Winston-Salem, NC 27104