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Home My WebLink About0931 • ~ which note provides tor payment ot ~nte rest, bu! whic•h intrrest is nut evidenced by interest coupons or in- tere~t coupon noles, it being u~idr~stood that ~vliere~•er coupons, interest coupons, or interest coupon notes, a~e referred to in this prc>ciit moctgage, the ~ntcrest mentioned in said note is intended; and shall duly. promptly and fu11y pertorm, discl~arge, eaecute, ett~rt, complete, campl~• with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory notes and o[ the interest coupons re- ferred to lherein and of this mortgage, then this mortgpg~ and the estate hereby created shall cease and be null and void. lt is understood that each of the ~vords, note, mortgagor and mortgagce respectiveiy, whether in the singular or plural an~•w•here in this mortgage, shall be singular if one only and shall be plural joinUy and severally if more than onc, and thut the W ord their as used anywhere in this mortgage shall be takEn to mean his, her or its, H~herever the context so implies or admits. ~ And said Mottgagots. for themselves and their heirs, tegal represenlateves, successors and assigns, hereby jointly and sevPrally ro~ rnant and agree to and wilh said Alortgaqeea, their legal representatives, snccessors and as~igns: 1. To pay all and singular the principal and interest attd the various and sundry sums ot money pay- able by virtue ot said promissory notes, interest coupon notes and this morl6age, each and evary, promptly on the days re~pectively the same severally beccme due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations ~nd incumbrances o! every nature and kind now on said described property, and/or that hereafter may be imposed, suffered, placed, levied or assessed thereupon, and/or that hereatter may be lev_icd or assessed upon this mortgage and/or the in- debtedness secured thereby, each and every, whcn due and payab~e according to law, before they become de13n- quent, and before any interest attaches or any penalty is incurred; and in so far as any thereoi is o1 record tlie same shall be promptly satisfied and discharged of record and the original officiat document (such as, for x instance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Mortgegees within ten days next after payment; and in the event that any thereof is not ao paid, satis- fiec! and discharged, said Alortgsgees may at any time pay the same or any part thereof without waiving or affecting any option, lien, eqvity or right under or by virture of this mortgage~ and the full amount of each and every such payment shall be imr~ediately due 9nd payable and shall bear interest from the date thereof until paid nt EI~HTEEN (1890) PERCENT PER ANNUM and toKether with such interest ahall be secured by the lien _ of this mor gage. 3. To place and coniinuously keep on the builclings now or hereatter situate on said land haz- ard insurance as required by Mortsaaees in the usual standard policy form, in a sum nui less than ~ ---------------------FULL INSURABLE VALUE---~-------------- _Dollars - - . ` _ _ ' in sueh company or companies as may be app:oved by said Mortgagees; and all such insurance ; policies on any oi said buildings. any interest therein or part thereof, in the aggregate sum aforesaid or in excess thereoi, shali contatn t}:e usual standard mortgagee clause making the loss under said policies~ each and every, payable to said Mortgajeta as their interest may appear, and each and ev~ry such policy shall - be promptly delivered to and held by said Mort6u~ees; and. not less than ten days in advance of the expiration of each policy. to deliver to said Mortaa~~ a renewal thereof, together with a receipt for the premiiun of such renewal; and there shail be no such insurance placed on any of said buildings, any interest therein or part - thereof, unless in the form and with the loss payable as aioreseid; nnd in the event any sum of money becomes payable under such policy or policies said Mort~Asees shall have. the option tu receive and apply the same on ' account of the indebtedness secured hereby or to permit said Mortgagors to receive and use it or any part - ~thereof for other purposes without thereby waiving or impairing any equity, lien or riqht under or by virtue ' of this mortgage; and in the event said Mortta6ors shall for any reason fail to keep the said premises ao insured, or fail to deliver promptly any of said policies of insurance to said Mortgagees, or fail promptly to • • pay fully any premium therefor, or in any respect fail to perform, discharge, execute, effect, complete, comply 4 with and abide by this covenant. or any part hereof, said Mortgagees may place and pay for such insurance or any paTt 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 shsll bear interest trom the date thereof untii paid at the maximum rate per annum allowed by law, and together with such interest shall be secured by the lien of this mortgage. 4. To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereoi. 5. To pay all and singular the costs. charges and expenses, including reasonable tawyer's fees and cost of _ abstracts of title, incurred or paid at any time by said 1?iart~agees because and/or in the event oi the failure . on the part of the said Mortgagots to duly. promptly and fully perform, discharge, execute, effect. complete. . comply with and abide by each and every the stipulatinns, afireements, conditions and covenants ot sai@ promissory notes, interest coupon notes and this mortgage. any or either, and said costs, chargea and expensea, _ each and every, shall be immediately due and payable, whether or not there be notice, demand, attempt to _ collect or suit pending; and the fuil amount of each and every such payment sha11 hear interest from the date ihereof until paid at the maximum rate per annum aliowed by law; and all said costs, eharges and expenses so ~ incurred or paid, together with such interest, ahsll be secured 6y the lien of this mortgage. " 6. That (a) in the event of any breach of this mortgage or defauit on the part of the Mortgagors, or (b) in the event any of said seims of mo~ey herein refened to be not promptiy and fully paid within ten days next - aft2r the ~ame severally become due and payable, tvit8out demand or notice, or (c) in the event each and every the stipulations, agreements, conditions and co~-enants of said promissory notes and said interest cou- pons and this mortgage, any or either, are not duly, promptly and fuily performed, discharged, executed, ° ef.*ected, completed, complied with and abided by; then, in either or any such eeent, the said aggregate sum ~ mentioned in said promissory notes then remaining unpaid, with interest accrued, and all moneys secured ~ hereby, shall become due and payable forihwith, or thereafter, at the option of said r~ortgageea, as iuily ~ and completely as if all of the said sums oi money were originally stipulated to be paid on such day, any- w . thing in said promissory notes, interest coupons and/or in this mortgage to the contrary notwithstanding; and ,y . thereupon or thereafter at the option of said Morl`a6eea, without notice or demand, suit at 12w or in equity, ~ iheretofore, or thereafter begun, may be prosecuted as if al! moneys secured hereby had matured prior to its institution ~ 7. That in the event that at the beginning of or at any time pending any suit upon th9s mortgage, or to foreclose it, or to retorm it, and/or to enforce payment of any elaims hereunder, said Mortgagtes shall apply ~ to the court haring jurisdiction thereof for the appointment of a Receiver, such court shall forthwith appoint a Receiver of said mortgaged property all and singular, including alt and singular the rents, income, profits, issues and revenues from whatever source derived, each and every of which, it be:ng expressly understood, ° is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, ' and such Receiver shall have ali the broad and etfective functions and powers in any wise e»trusted by a S- court to a Receiver, and such appointment shall be made by such court as an admitted equity and a matter ~ of absolute right to said Mortgagees, and without reference to the adequacy or inadequacy of the value o! ~ the property mortgaged or to the solve~cy or insolvency of said Mortaa~ors and/or of the defendants. and s that such rents, protits, income, issues and revenues shall be applied by such Receiver according to the lien ~ and/or equity of said Most~a~eea and the practice of such coutK. ~ • ~ 8. To duly, promptly and fully perform, discharge, execute, etfect, complete, comply with and abide t by each and every the stipulations, agreements, conditions and covenants in said promissory notes and said ~ interest coupon notes and in this mortgage set forth. x 4 # • f ~ ~ ~ sooK 5~8 P~~f 9~i ~ ~ ~ . , _ _