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HomeMy WebLinkAbout0989 ~ ; i AND the said Mortgagor hereby covenants and agrees: ! 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note and this deed, or either, promptly and on the days respec- tively the same severally become due. 2. To pay all and singular the taxes, levies, liabilities, obligations and encumbrances of every nature heretofore or hereafter imposed, placed, levied and assessed on said described property, each and every, and if the same be not promptly paid prior to delinquency the said ~ Mortgagee may at any time pay the same without waivin~ or affecting the option to foreclose or any right hereunder, and the amount of every payment so made shall bear interest from the f date thereof at the rate which said note bears and shall be secured by the lien of this mortgage; the Mortgagor agrees to furnish to the Mortgagee prior to April of each year receipts for all ad valorem taxes paid by the Mortgagor. 3. To pay all and singular the costs, charges and expenses, including lawyer's fees, reasonably incurred or paid at any time by said Mortgagee because of the failure on the part of the said Mortgagor to perform, comply with and abide by each and every the stipulations, I, agreements, conditions and covenants of said note and this deed, or either, and the amount of ' every such payment shall bear interest from date at the rate which said note bears and shall be secured by the lien of this mortgage. ~ 4. To kee the buildin s now or hereafter on said land insured against loss by fire in a P S sum not less than the amount of this mortgage from time to time outstanding unpaid, and in- sured against loss by windstorm in a sum not less than the full insurabie value of said premises in a company or companies to be approved by Mortgagee, and the policy or policies held by and payable to said Mortgagee, and, in the event any sum of money becomes Fayable under such policy or policies, the Mortgagee shall have the option to receive and apply the same on account of the obligation hereby secured or to permit the Mortgagor to receive and use it, or any part thereof, for other purposes, without thereby waiving or impairing any equity, lien, or right under or by virture of this mortgage, and may place and pay for such insurance or any part thereof without waiving or affecting the option to forecl~se or any right hereunder, and the amount of each and every such payment shall bear interest from date at the rate which ~ said note bears and shall be secured by the lien of this mortgage. ~ 5. To permit, commit or suff~r no waste, impairment or deterioration of said property t or any part thereof, and to keep and maintain the building or buildings now located upon or E hereafter constructed upon the premises hereinbefore described in good condition and repair, F and from time to time make such repairs, improvements or replacements upon and to said ~ building or buildings as may be necessary to keep the same in good condition and repair. f i ~ 6. To perform, comply with and abide by each and every the stipulations, agreements, i ~ conditions and c~venants in said promissory note and in this deed set forth. f ~ ~ 7. If any of said sums of money herein referred to be not promptly and fully paid i within thirty days next after the same severally become due and payable, or if each and every ~ the stipulations, agreements, conditi~ns and covenants of said promissory note and this deed, r or either, are not duly performed, complied with and abided by, the said aggregate sum men- , tioned in said note then remaining unpaid, with accrued interest and all other sums secured hereby shall become due and payable forthwith or thereafter at the option of the Mortgagee, as fully and completely as if the said sums were originally stipulated to be paid on such day, anything in said promissory note or herein to the contrary notwithstanding. 8. That should suit be brought upon this mortgage and the Mortgagee apply for the ap- pointment of a Receiver, the Court shall forthwith and without notice to the Mortgagor (or ; other defendants) appoint a Receiver of said pro~erty, including the income, profits, issues x and revenues therefrom. Such appointment shall be made as a matter of absolute right of the Mortgagee without reference tu the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of the Mortgagor. g k ~'1~r . ~~,~t. ~93 ~ . - - - - - - - - u ~ § . . _ ---r - ~ ~`~a~ . y,~,: . . ~ ~ Ki~- `a'~ . _ _ S:~ _ _