HomeMy WebLinkAbout1869 ANO Mse sold Mortgagor hereby tovenonh and agrees with the said Mortgagee as folbws:
FIRST: Thor Ilse Mortgagor is lawfully seised of tlse above dexribed premises in fee simple and has good right b sell and
cawey Nse same ro tlse Mortgagee; Mot the said premises ore free and discharged of and from all tones, tax tiNes or certificates,
judgments, mecharsit s liens and encumbrances of any nature or kind whatsoever and shot Me Mortgages will fully warrant and
defend Nse some ro tM Mortgagee, against Me lawful claims and demands of all persons whomsoever, and will make such furMer
ossurontes b perfect fee simple title ro said load, in Me Mortgagee. os may reasonable be required, and will pay Me several
sums of matey agreed in Me sold note ro be paid and all installments of principal and interest Hereon promptly when due, and
according b the true tenor and effect of the said note.
SECOND: That the Mortgagor will pay all and singular the foxes, assessments, levies, and encumbrances of every nature
on He above dexribed property, and upon this mortgage and note, or He money secured Hereby, before delinquency thereof
and reteiph evidencing payment of said foxes, assessmenh, levies and encumbrances shot) be deposited wits Me Mortgagee on or
before March 1st of Both succeeding year during the term of Mis mortgage; and if some be not promptly paid when due, He
Mortgagee may (without obligation ro do so) pay the same, or become purthaser,of any lawful evidence thereof, or certificate
therefor, witltOtrf waiving or affecting any right hereunder and in Mis mortgage, Or Me said note which this mortgage secures; and
such poymenh or expenditures so mode shall boor interest from Me date thereof at He rate of FIFTEEN (15s) per centutn
per anxrm.
THIRD: That Me Mortgagor will keep all real and personal property now or hereafter encumbered by Me lien of this
mortgage inwred os may be.required from time to time by Me Mortgagee against loss by Rre, windstorm and other hasards,
casualties and cattingenues for such periods and for not less thou such amounts os may be required by He Mortgagee and to pay
prontpNy when due all premiums for such inwrance. The amounts of suds insurance required by Me Mortgagee are expressive of
only the minintttm amounh for which said insurance shall be written and it shall be incumbent upon the Mortgagor to maintain such
additiorwl ietwronce as may be necessary ro meet and comply fully wits all co-insurance requirements tontoined in sold policies to
the end that said Mortgagor is not o co-inwror Hereunder, ktwrance shall be written by o cowpony w cowponies approved by the
Mortgagee and all policies and renewals thereof shall be held by the Mortgagee. All detailed designations by Me Mortgagor
which are oaepted by the Mortgagee and all agreements between Mortgagor and Mortgagee relating to insurance, now existing
a hereoher mode, shall be in writing and shall be o part of Mis mortgogt agreement as fully as Hough set forts verbatim herein
and shall govern boM parties herero and their suaessors and assigns. No lien upon any of sold policies of inuurance or upon any
refund or return premium which may be poyabk on the cancellation or termination Hereof, shall be given to other Mon He Morf•
gagee, except by proper endorsement affixed ro such policy artd approved by Mortgagee. Fach policy of inwrance shall hove
affixed iherero a Standard Mortgagee Clause oaeptable ro the Mortgagee, making all kxs or krises under such policy payable
ro the Mortgagee os its interest may appear. ti the event any sum or scans of money become poyoble Hereunder Me Mortgagee
shall hove the option b receive and apply the some on oaount of the indebtedness hereby secured, or to permit He Mortgagor to
receive and use it, or any port thereof, without thereby waiving o? impairing any equity, lien or right under and by virtue of this
morigoge. ti evert of loss or physical damage ro the mortgaged property He Mortgagor shod gtve immediate notice thereoF by
moil ro the Mortgagee and the Mortgagee may woke proof of loss if the some is not made promptly by He Mortgagor. In event
of forecbwre of His mortgage or other transfer of title ro the mortgaged property in extinguishment of the indebtedness secured
hereby, all right, title and interest of Ilse Mortgagor in and to any inwronce policies Men in force shall pass to Me purchaser Or
grantee. Upon orry defouh thereof, the Mortgagee may (but without obligation on its port so to do) place insurance on sudt
buildings and pay tl?e premium and charge such sums so paid to He Mortgagor and such cams of nwrtey s~• paid shot) bear interest
from the dote of payment of the rate of FIFTEEN (15$) per centtmt per omum.
FOURTH: Thor all sums of money paid or caused to be paid by He Mortgagee under Me terms of this mc:rtgoge and herein
spetificoNy provided for, artd including any expenses incurred by He Mortgagee in collection of the sum secured by this mortgage,
shall be covered by the lien of His mortgage, the some os the sums of money represented by Me note which His mortgage secures.
fTFTH: To permit, Oontretit or suffer rta waste, impairment or deterioration of said property, or any part Hereof, and upon
the failure of the Mortgagor ro keep He buildings on sold property in good condition of repair, He Mortgagee may demand the
inrrlediote repair of said buildings, or on increase in the _ontourtt of security, or the immediate repayment of the debt hereby
secured, and the failure of the Mortgagor ro comply wits said demand of the Mortgagee for a period of fifteen (15) days shall
I constitute a breach of Mis mortgage, and, at the option of the Mortgagee, immediately mature the entire unpaid principal and
interest hereby secured, and fife Mortgagee may, without notice, irtstitu:e proceedings to foreclose Mis mortgage, and apply for
the appointment of a receiver, as hereinafter. provided.
SU(TH: That He Mortgagor hereby promises, covenants and agrees to pay He cams of money and interest as mentioned
in said promissory note, rogeHer wits any and all other sums jvsNy due and owing Me Mortgagee by Me terms Me?ein, and secured
ro be paid os stated therein prompNy when due. If defauh shot: be mode in the payment of He said sums of money or any port
thereof as provided in the said note or His mortgage, or if He interest Hot may become due Hereon or any part Hereof shall be
in defauh and unpaid for a space of fifteen (ISI dogs, or should the Mortgagor breach or fail to comply with any other covenant
or agreement on the port of Ilte Mortgagor to be complied with (in those cases in which Me option of the Mortgagee of accelera-
tion is not otherwise expressly provided herein) and such breads or non-compliance continue in existence for o space of fifteen (15)
days, Hen and from thenceforth, at the option of the Mortgagee and without notice to He Mortgagor, Me whole of said principal
) sum expressed in sold note, together with all other sums therein as well as herein provided for, shall become immediately due and
poyoble, without notice ro the said Mortgagor.
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r SENErITH: That in case it should become necessary to plate this mortgage and He note secured hereby or either of Hem,
in the hoods of an attorney for collection, the sold Mortgagor covenants and agrees wits He Mortgagee to pay all costs, charges
i and expenses of such collection, including reasonable attorney's fees whether collected by forecbsure or otherwise. !
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EIGHTH: That, in the event any wit is brought upon His mortgage, whether ro forecbse it, to reform it, or otherwise,
and or ro enforce payment of any daim hereunder, the Mortgagee may apply to any court having jurisdiction thereof for the
appointment of o receiver of sold mortgaged property, as well os Me income, profits, issues and revenues Hereof, and the said
g~333 P~1867
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