Search for terms in file

I am having problems with my script. I want to find some terms in different files, defined in a searchlist. However - it won't find those terms, even if they are definitely included in those files. I checked it.

Am I missing something?

path = '/mypath'
for filename in glob.glob(os.path.join(path, '*.txt')):
    with open(filename) as infp:
        mylist = infp.read().splitlines() 
        for word in mylist:
            searchlist = ["term1", "term2", "term3"]
            for i in searchlist:
                if i in word:
                    print ('found')
                else: 
                    print ('not found')