HomeMy WebLinkAbout1721 without thereby waiving or impairing any equity, lien,~or right under and
by virtue of this mortgage, and may place and pay for such insurance, or any
part thereof, without waiving or affecting its optiwi to foreclose, or any
right-hereunder, and each and every payment so made shall bear interest fran
the date thereof at the rate of 15~ per annum, payable quarterly,
4. To permit, commit or suffer no waste, impairment or deterioration of said
property, or any part thereof, and upon failure of the Dbrtgage to keep
the buildings of said property in good condition and state of .repair, the
Mortgagee may demand immediate repair of said buildings or an increase in the
amount of security, or the immediate repayment of the debt hereby secured,
and the failure of the Mortgagor to comply with said demand of the Mortgagee
for a period.of thirty (30)days, shall constitute a breach of this mortgage
and, at the option of the I?brtgagee, immediately mature the entire amount of
principal and interest hereby secured, and the Mortgagee ,immediately and
without notice, may institute proceedings to foreclose this mortgage. and
apply for the appointment of a Receiver, as hereinafter provided.
S. To perform, canply with and abide by each and every the stipulatioa~s,
agreements, conditions and covenants in said promissory note and mortgage
set forth.
6. If any of the scans of money herein referred to be not promptly and fully
paid within thirty (30) days next after the wane severally becomes 'due and
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payable, or if each and every the stipulations, agreements, conditions, and
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covenants of said promissory note and this mortgage, or eithex are not duly
f performed, complied with and abided by, the aggregate sum mentioned in
~ said prommissory note shall becane due and .payable forthwith or thereafter
at the option of the Mortgagee as fully and crnipletely, as if said
aggregate sum of money was originally stipulated to be paid on such day,
anything in said promissory note or herein to the contrary notwithstanding.
7. To deliver to the Mortgagee on or before March 15th of each year, tax
receipts evidencing the payment of all lawfully imposed taxes for the preceding
calendar year; to deliver to the Mortgagee, receipts evidencing the payment
of all liens for public improvements within ninety (90) days after the same
shall becane due and payable, and to pay or discharge within ninety (90)
days after due date, any and all governmental levies that may be made on the
mortgaged property, on this mortgage or note, or in any other way resulting
from the mortgage indebtedness secured by this mortgage.
~4 P~~711
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