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<br /> ; � �'� This eonvey�ance, ho�eever, is �made� upon �the � fnll<i�vink conditions, to-�+�it � � � . . .. . . . . . � . � ' ' �� . ` ' " ' �-:
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<br /> � ? \1'HEREA$, we are � jusdy indebted to the� mortgagee � in the sum of � � ^ � � � � � � � � � � �. . �. ' �
<br /> i � 7:� � .rf- aa� �� 'PhM�o�nA Minu F7� mArcri �.F'i ftv—[me anr9 �97�100---- - - r3ollars (��.4,� Q51 97 � )
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<br /> ; �,, for niuney loaned to us � f9r tlie �purposn <�f enabhng us to � construct a new� building on the aforesaid lxnds and prrinises and �
<br /> $ . : tn be �sed For said purpyse, which indebkeci.nes.r is evidenced Uy our prornissory note of even datc: liere�+�ith for the s.�id sum� of
<br /> X Fourteen ` Zhousand N3ne HLmdred Fifty-one and 97/100--- -- - ,��,i�,«� �� 14 , 951 . 97 �
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<br /> ' S � p�yable to the order of �the mortKaSee on or beforc ��-'� �g�� �S � �+ftc�r d.ite nnd Gcaring � �
<br /> �� � . : . . . . . : : . . . . . . . : . . . . . . �. � . , � . . . . . .
<br /> � i . � interest frmtt date until paid at t2�e r•rte as specified in .aid prnrnicsor}� note � the said interest payable � �e�Y �3.vs �
<br /> ; . :p�, an�l th�s conveyance is � made � tn secure thc proinpt pa}�rnent of thc said nnte ut its u�aturity, together �a•ith an}� �u�d
<br /> ; i , '. � � all .renewa(s bi ratensions theteof and any bcher indebtedness of wLatsiiever kind or cLaracte�� �vl�ich may �erist cir be ywing� .
<br /> ' i � by �-us, or either of �us,� to thc � mortgagee, its kucci:ssors� or assigns, on account of thi+ aForexaid property ut ain• time pri<�r to the �
<br /> ,,; s' � . � . foreclosurc+ of � Ihis� instruruent; and,� � � � � � � � . � �
<br /> � � � � 1A'HEREAS, i,n order more fully to protect the security of this n'�ortgage we hereby covenant und agrec �vitb the in9rtgagee . �
<br /> `, .�, � .� �as follows: � . . . � � � . .
<br /> � � � � � 1 . 7'hat �ve �+�ill prornptly ��ay ti�hcn due all tasr,s and ott�er legal atisc�ssments on � thc. propert}^ hereby uiortgage� and th3t
<br /> . We �+�ill keep tl�e building on suid lands and precnities insured against Ic�ss by fire, tornado, �+-indstorm, cydonc. � lightning, hail, .
<br /> � , es��losion, smoke and aireraft, and �eaeh of sucli pr.rils, in gobd and solvent insurance companies, subject to the a>>provul of the
<br /> ' mortgagee, in thc amount of the full insurablc value of s��ch building and if abtainable in an umount as much as the total
<br /> � ? � � � � amount of the indeUtedness then secured by this rnurtgage, with srandard mortgage clauses in the policies of insurance, making
<br /> 4 � , . � � � . � the � Ioss, iF any, payabte to the mortgagee as its interust. may ut�pe:v' und deliver the policies of insuaruce to the mortg�gee, and . a� , �: ,. .
<br /> � � � �tl�at no insurance s1�a11 br. procured or maintained by us yn said buildings ur uny part t6ereof other tivm that represented by � .
<br /> � j . � � the insuranee policies delivered tu the mortgagee as afixesaicl. . � . � .
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<br /> � . . � � 2. 7'hat in. the event we shall fuil to pay uny taxes or other legal assessmcnts on the said property when the same become
<br /> . � . � due or to keep the� said bui7din�s insured as 6erein agmed, the rnortgagee may, at its option, pay snid tases or other � legul � �
<br /> � � . ussessments or the premiams for insuranec on said buildings and any amom�ts so eapended shalt be tacked. to the . indebYedness
<br /> }... � � � . � hereby � secured and tl�is conveyance shall stand as security of their repayment. , .
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<br /> �� .. � . � 3. Thut we 4vi11 prompdy pay the indebtedness hereby secured us and ��-hen the same becoines due and paY�hle and� thut �
<br /> �ve -�vill, on demancl., repxy to the mortgagee �ny and all amoimts which it may eapc:nd for h�.+es, legal asse�sments or insurauce ,
<br /> �: � � � premiums as hereinbeforc. proviticd, with interest thereon at the rate of ten ��er cent per annum from the date of espenditure � . � �
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<br /> - . . ��.by the mortgaqee untll repaid to it � � � � � : �
<br /> � � � . 9. That if the note hereby securt:d is not pxid w'hen due or if H�e shall fail to comply �a-it1�,. perfnrm or Fnlfill any of the � �'
<br /> ' r� � � � coVenants � or ugreirments herein uontxinnd on our purc, the mortF;agee, or the legal he�lder of said note, shall have the right,
<br /> ,, � � . uLits option,. to. de[;lare all of the indcbtedness liereby secured and then re�naining unpxid, «�ith intere.st tlien accrued, � dae and�
<br /> �iayable at once � and to enforce the payrnent thcreof, either under tLe power of sale hereinufter contained nr � in � the courts.
<br /> � .. � ; . . � . . . 5. 'i'Iwt �c7iprtgagor�� will nyt . scll the .inortga};ecl property �+�ithout wortgagee's prior approv:�L � � � � . .
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<br /> � . 6. Thxt K•e . wili pay �the costs of re.cording ssnd satisfying .this inortgage. . � . . .
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<br /> � � � � Now, if we shal) rvell and truly pay the indebtedness hurr.inUefore menlianed, � with � interest thereon as � hcrein provided, �
<br /> % as and ���hc.� 16cr same l�ec�imes due und pal'ahle, and shall cn�uply' �+'ith, perfonn and Enlfill nll of the covenants� ancl agreements
<br /> � : �. � �� herein .contained on our part, then this convcyance sball be null and �•oid; othrr��ise, to re.muin in Eull force und effect � ,
<br /> � � � . � �'� [f default is made� ui the payment of' Ihe said indebtedncss or aoy part thereof �rhen the samc is duc, the mortgagee may .
<br /> = � � tuke � possession of the � property � hereby conveyed wid�out proce�s of ta�� and wc hrreby agree to peaceabiy surm�nder lhe
<br /> � � � � same to it ur lo its �� authorired agent, � and a[ter ud��crtising thc said property for wle for tH�enh� dxys by ad�'ertisement published
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<br /> t ' in sane newspaper of general � circulation published i� �11 C.OLIl��V Nel�raska�� Gcsunty, Ar1.an+Fis, the
<br /> � � . mortgaqee,' by � its presidcnt, secretary; � c>r other autl�orized agent, shall l�ye the � right to scll said property at {�ubhc :iuction .
<br /> � �. . . . � : � . � . � � . . , . . �. . . � . . 311f1 �P�f.2XSe011
<br /> C . � to the highest bidder fnr cash� ut the � front door of t}�e Courtl�ouse of Ha� � �'�ntnt'�T;, NF'}iracka � ' County, Arkansas,
<br /> :a .. . . . anc9 to� apply the proceeds of the sale, firs�, t�> the payment oi' the espcnse of advertising, selling :�nd c<�m'ey ing said propc�ty,
<br /> t �.� � � second, to � the payrnent of the � indebtedness I�ereby secived, and third, the� balunce, if any, to us. It � ix understood und agreed
<br /> � ',�. � " tliat� the � mortgugee muy Uecrome the purchaser of the said properry at sucl� sule.; if die highest bidder ffie.refon � �
<br /> ' • + � � �� � � � � � It is furtLer understood and a};reed 8iat in . �the �event of anu lo+�+ . ur dainage � Uy �fire or tornado or � other casualty to the �
<br /> ` ' � � .propert�• he.�eb�• mortgs�ged, durin�; th< <�•�istencr uf ihis inort�acze, the �nortK:�K�•� or its a�,ent is hemby authorized to xdjust, .
<br /> " � � . � � � settle � and � collect for �such loss or � damagr, � receive and � receipt for any amounts which may be due., execute releases and
<br /> � ��� � � apply the pmcecds, � less �any costs which � may br incurred, eithc:r to the payment ot the indc:bledness hemby secured or tu the
<br /> � F�� � � - . . repairing �o� � rebuilding�:c�f -. said ��.buildings. . � � . .
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