HomeMy WebLinkAbout1151~r~uidr~ ~lu~tt~a. that if sni~l .~Vort~u~or shall pay unto th~ sui~l .hlorf~n~ee
the certaia pnon:i~sory note, u~' rc-l~:ch tlee jollou~ii~~ i~: wo-Yls urrd jl~'~cres is a true cupJ,
lo sait:
ond sltoll perjo»ie, ~o»rplr~ icith a~id al,ide hJ e~ch u~td ei•erJ tlie slipulalions,
dgreements, conditions and eovenants of saitl promissorr~ note and of this deed, then
this deed and tlce estate herebJ created sliall cease and Le n~clt an~l t~oid.
,t~tl~ the said ~llort~sugor fiereby covenanls dnd a~rees:
.1. To pay ~~Il and sin.~rclar thP pri~i~ipnl an~l i~rl~r~ct u~l~l ~~th~r srims ~,j »torrey
priyahle hJ i~irtue nj said pr~,~niss.,ry n~~t~ ~r~i~l this ~1~.~~1, ~,r e~ithe~r, pr~~-~rpt/r~ ~-~i tltP
claJs respee~i~~elJ the sun:c• sei,erallJ c~ont.e daP.
~_ Tn ~-ay all ~ui~l singtilar tlee tux~~s, assessin~nls, let•i~~x, li~~hiliti~~x, ~,h/ic~alio~tc
und en~~cnabrances o/' cr~crJ ~rature oit sui~l d~s~~~ibc~d propc~rtJ ea••le a~rd et•~rt~, and
if the same be not promptlaj paic~ the said .~lfortgceyee mciy at anJ time par~ the sam.e
without u•aiving or aJ~'ecting the option to foreclose or ctny right liereu~:der, and ez•ery
pctyme~it ao m,ade slutll bear interest from the date thereof at the rdte of t~aelv~e (12)
per cer~t. per annum. ~
J. 7'o pay all and sin~ular the custs, ehar~~~Q ond exp~nses, in~lruli.ng I~u~Jer'c
fees, rectsonctblJ incurred or paid at any time by said .1~orf~'a~ee becar~se of the failure
on the part of the saic~ .hfort~agor to perform, compLJ u•ith a~i~l abi~le by e~ich a~zd
every the stipul,citions, d~reem.ents, conditions and covenants of said prumissory nole
! and this deed, or either, ctnd every sr~ch paymer~t shall Lear i~ateresf front date at the
4 rate of twelve (12) per cent. per annu~n.
, .~. To keep the building n~~ie nr hPre«~t~r on suid lund insured in a 4unr n~~t .
~ lE;ssth~n its highest insurable value---------------------------------
; -------------------------------------Unllurs, in a ~•~rrap~lnry ~u ~•u»e./i~niiPe to
~ dPP~ved by said .~lortgagee, ocnd the polic~ or policies held by and paycable to said
~.Alortga~ee, and in tlie evenE any srcm of mon~J Lecomes payable rcnder such. policy or
~ policies, the .~lort~a~ee s/uill haae the option to receive and upply the same on accor~-nt
of the ind,ebLedness hereby secured or to permit the JKortgac~or t~o receive and use it, or
any part thereof, for other purposes, wi`,hotct thereby u~aivirt~' or impairin~ any equity
lien or right t~cnder or by airtue of this mort~age, ctnd may pla,ce and paJ for aueh
insurdnee or ctny part the~eof, without u~aiving or ctffectin$ the option to foreclose or
any ri~ht hereunder, and eaeh and every sueh pctyment shall bear interest from date
at the rute of twelv~e (12) per cent. per annum..
g~ 348 FbCE ~.1.51
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