HomeMy WebLinkAbout1399 Copy of Promissory Note attached hereto and made a part hereof as Exhibit "C".
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and shall duly, promptly and fully perform, discharge, execute. effect, complete, comply with and abide by each and every
the stipulations, agreements, conditions and covenants o[ said promissory note and o[ this mortgage. then this mortgage and
the eswte hereby crated shall cease and be null and void. i
It is understood that each of the words, "note." "mortgagor" and "mortgagee" respectively and the pronouns referring
thereto, whether in the singular or plunl anywhere in this mortgage, shall be singular if one only and shall be plural jointly
and severally, if more than one, and shall be masculine. ftminine and/or neuter, wherever the context so implies or admin.
And said Mortgagor for himself artd his heir, legal representatives, successors and assigns, hereby covenants and agrees "
to and with said Mortgagee, his legal representatives, successors and auigns: E
1. To pay all and singular the principal and interest and the various and sundry sums of money payable by virtue of
said promissory note, and this mortgage, each and every, promptly on the days respectively the same severally become due.
_ 2 To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbnnces o[ every mature 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 indebtedness secured hereby, each and every,
when due and payable according to law, before they bernme delinquent, and before any interest attaches o: anv penalty is
incurred; and in so tar as any thereof is of record the same shall be promptly satisfied and discharged of record and the or-
iginal official document (such as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall
be placed in the hands of said 1?tortgagee within ten days next after p:+}•menr. and in the event that any thereof is not so
paid, satisfied and dischuged. said Mortgagee may at any time pay the same or any part therm[ without waiving or attect-
ing any option, lien, equity or right under or by virtue of this mortgage, and the full amount of each and every such pay-
; ment shall be immediately due and pa}able and shall bear interest from the date thereof until paid at the rate o[ tcu per
centum per annum and together with such interest shall be secured by the lien of this mortgage.
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3. To place and continuously keep on the buildings crow or hereafter situate on said land [ire arrd wind,torm insur-
ante in the usual standard policy form, in a sum not less than the highest insurable value, in such company or companies as
may be approved by said Mortgagee; and all such insurance policies on any of said buildings, 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 policies, each and every, payable to said Mortgagee as his interest may appnr, and each and every such polic~r
shall be promptly delivered to and held by said Mortgagee; and, not leu than ten days in advance o[ the expiration of each
policy, to deliver to said I?tortgagee a renewal thereof, eogether with a receipt for the premium of such renewal; and these
shall be no such insurance placed on any of said buildings, any interest therein or part thereof, unless in the Corm and with
" the loss payable as aforesaid; and irr the event any sum of money becomes payable under such policy or policies said Mortgagee
shall have the option to receive and apply the same on account of the indebtedness secured hereby or to permit said A[ortga-
gor to recei~•t and use it or any part thereof [or other purposes without thereby waiving or impairing arty equity, lien or
right under or by virtue of this mortgage; and in the event said Mortgagor shall [or arty reason fail to keep the said premises
so insured, or fail to deliver promptly any of said policies of insurance to said 11[ortgagee, or fail promptly to pay fully arty
premium therefor, or in any mpect tail to perform, discharge, execute, effect. complete, comply with artd abide by this cov-
enant, or any part hereof, said Mortgagee may place and pay for such insurance or any put thereof without waiving or
affecting any option, 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 date thereof until paid at the rate of ten
' per centum per annum and together with such interest shall be secured by the lien of this mortgage.
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4. To permit, commit or suffer no waste, impairmrnt or deterioration of said property or any part thereof.
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5. To pay all and singular the costs, charges and expenses, including reasonable lawyer's fees and cost o[ abstracts of
title, incurred or paid at any time by said Mortgagee beptue and/or in the event of the failure on the part o[ the said
Mortgagor to duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and
.every the stipulations, agreements, conditions and covenants of said promissory note, and this mortgage, any or either, and
said costs, chuges and expenses, each and every, shall be immediately due and payable, whether or not there be notice, de-
wand, attempt to rnllea or suit pending; and the full amount of each and every such payment shall bear interest from tht
date thereof until paid at the rate of ten per centum per annum; and all aid costs, charges and expenses so incurred or paid.
together with wch interest, shall be secured by the lien of this mortgage.
8333 Pa~E1397
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