This section is from the book "Real Estate Principles And Practices", by Philip A. Benson, Nelson L. North. Also available from Amazon: Real Estate Principles and Practices.
THIS INDENTURE, made the ......day of ........ in the year of our
Lord one thousand nine hundred and........ (19...) BETWEEN ..........
.........................................................................................................................................................
(hereinafter called the Mortgagor..) of the one part, and ..................
.........................................................................................................................................................
(hereinafter called the Mortgagee..), of the other part:
WHEREAS, the said Mortgagor.., in and by ...... Obligation.. or Writing. . obligatory under .... hand.. and seal.. duly executed, bearing even date herewith, stand........bound unto the said Mortgagee.. in the sum of......
lawful money of the United States of America, conditioned for the payment of the just sum of .......... lawful money as aforesaid, together with interest thereon, ..........payable..........at the rate of .... per cent per annum, without any fraud or further delay, and for the production to the Mortgagee..
Executors, Administrators .......... or Assigns, on or before the ...... day of........of each and every year, of receipts for........all taxes and water rents of the current year assessed upon the mortgaged premises, and also, from time to time, and at all times, until payment of said principal sum, for the keeping of the building..........mentioned in this Mortgage insured against loss or damage by fire for the benefit of the Mortgagee.. in the sum of........
PROVIDED, HOWEVER, and it is thereby expressly agreed, that, if at any time default shall be made in the payment of interest as aforesaid for the space of......days after any......payment thereof shall fall due, ........or in such production to the Mortgagee.., Executors, Administrators .......... or
Assigns, on or before the ...... day of ........of each and every year, of such receipts for..........taxes and water rents of the current year assessed upon the premises mortgaged, or in the maintenance of such insurance, then and in such case the whole principal debt aforesaid........shall, at the option of the said Mortgagee........ Executors, Administrators........or Assigns, become due and payable immediately, and payment of said principal debt
.......... and all interest thereon, may be enforced and recovered at once, anything therein contained to the contrary notwithstanding. AND PROVIDED FURTHER, however, and it is thereby expressly agreed, that if at any time thereafter, by reason of any default in payment, either of said principal sum
........ at maturity, or of said interest, or in the production of said receipts
........ for taxes and water rents within the time specified, or in the maintenance of such insurance, a writ of Fieri Facias is properly issued upon the judgment obtained upon said Obligation, or by virtue of said Warrant of Attorney, or a writ of Scire Facias is issued upon this Indenture of Mortgage, an attorney's commission for collection, viz.:...... per cent, shall be payable, and shall be recovered in addition to all principal and interest then due, besides costs of suit, and all expenses of effecting such insurance, as in and by the said recited Obligation.. and the Condition.. thereof, relation being thereunto had, may more fully and at large appear.
NOW THIS INDENTURE WITNESSETH, That the said Mortgagor.., as well for and in consideration of the aforesaid debt or principal sum of........
and for the better securing the payment of the same, with interest, unto the said
Mortgagee.., Executors, Administrators, ........and Assigns, in discharge of the said recited Obligation.., as for and in consideration of the further sum of One Dollar unto ........ in hand well and truly paid by the said Mortgage.. at and before the sealing and delivery hereof, the receipt whereof is hereby acknowledged........... granted, bargained, sold, aliened, enfeoffed, released and confirmed, and by these presents......grant, bargain, sell, alien, enfeoff, release and confirm unto the said Mortgagee........ and Assigns,
TOGETHER with all and singular ............... Ways, Waters, Water-Courses, Rights, Liberties, Privileges, Improvements Hereditaments and Appurtenances whatsoever thereunto belonging, or in anywise appertaining, and the Reversions and Remainders, Rents, Issues and Profits thereof.
TO HAVE AND TO HOLD the said.........Hereditaments and Premises hereby granted, or mentioned and intended to be so, with the Appurtenances,
........ unto the said Mortgagee ...... and Assigns, to and for the only proper use and behoof of the said Mortgagee...... and Assigns forever.
And the said Mortgagor.. for.....Heirs, Executors and Administrators, do..
hereby covenant, promise and agree, to and with the said Mortgagee...., Executors, Administrators,........and Assigns, that if the said Mortgagor......
Heirs, Executors or Administrators, shall neglect or refuse to keep up the aforesaid insurance, it shall be lawful for the said Mortgagee ........ Executors,
Administrators......or Assigns, to insure the said building ...... in a sum sufficient to secure payment of the said principal debt in case of fire, and all costs and expenses of effecting such insurance shall be treated as part of the principal debt in a suit upon this Mortgage.
PROVIDED ALWAYS, nevertheless, that if the said Mortgagor......Heirs,
Executors, Administrators or Assigns, shall and do well and truly pay, or cause to be paid, unto the said Mortgagee ........ Executors,Administrators......
or Assigns, the aforesaid debt or principal sum of.......on the......day..
and time.. hereinbefore mentioned and appointed for payment of the same, together with interest as aforesaid, and shall produce to the said Mortgagee..
........Executors, Administrators........or Assigns, on or before the......
day of........of each and every year, receipts for all .......... taxes and water rents of the current year assessed upon the premises mortgaged, without any fraud or further delay, and without any deduction, defalcation or abatement to be made of anything, herein mentioned to be paid or done, and shall keep the building..........mentioned in this Mortgage insured as aforesaid, then, and from thenceforth, as well this present INDENTURE, and the estate hereby granted, as the said recited Obligation.. shall cease, determine and become void, anything hereinbefore contained to the contrary thereof in any wise notwithstanding. AND PROVIDED, ALSO, that it shall and may be lawful for the said Mortgagee........ Executors, Administrators ........ or
Assigns, when as soon as the principal debt or sum hereby secured shall become due and payable as aforesaid, or in case default shall be made for the space of........ days in the payment of interest on the said principal sum
.......... after any........ payment thereof shall fall due, ........ or in case there shall be default in the production to the said Mortgagee..........
Executors, Administrators........ or Assigns, on or before the ........ day of........ each and every year, of such receipts for ............ taxes and water rents of the current year assessed upon the premises mortgaged, or in the maintenance of the insurance as aforesaid, to sue out forthwith a writ or writs of Scire Facias upon this Indenture of Mortgage, and to proceed thereon to judgment and execution for the recovery of the whole of said principal debt,
........ and all interest due thereon, together with an attorney's commission for collection, viz.: ...... per cent, besides costs of suit, and all expenses of effecting such insurance, without further stay, any law, usage or custom to the contrary notwithstanding.
IN WITNESS WHEREOF, the said Mortgagor.. to these presents........
hereunto set ...... hand.. and seal.. Dated the day and year first above written.
SEALED AND DELIVERED in the presence of us
............................................................ ................................................................[L. S.]
............................................................ ................................................................[L.S.]
 
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