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<br /> Horrawer�nd l.ender coven�nt and st�;ree as fulbws: ` ot�f!hc Lender auq►ntrs the p�pzzi��the�ise af[e�ddfa�the
<br /> Lender shali appty,2t th�time og.eitC wmmancement of sach
<br /> � 1. That Barrou•er will pay the indebiedness,as i�ereinhefure praceedings,or at ti��lim�thx�►mjwnv is othen+uisc�cquir,.�,the
<br /> pro�ided.Privitege is reserved to pay the debt in whote�r in part nn balance then remainsng,in.th�[untis��cumuiaeed undcr la)of
<br /> any instalime�t due date. paragraph 2 pre;ceding,2s a ccaJit z;:,inst the amount of pri�cipal
<br /> then remai�ing uopaid unde=�id�ttta_:
<br /> 2.T6at,together with,and in addition to,the monthly payments
<br /> of prirteiRal and interest payabie urtdcr the tcrms of the nate secured 4.Ti��t thr Bc�rta��ti*. �t•iil pz�gouh;i�rcnts,taxes,assessments.
<br /> hereby,the Bonowcr wiA pay to the Lender,on the first day of each wates r�ies,ansi oth�r g��uznm�«9;as,muniapal charges,6nes.oc
<br /> manth until thc said note is fully paid the following sums: imposivans.for whie4�pmv;;irm,�it;+�aat bcen rnade her�i�before,
<br /> artd in default thxreni�th�L:endi�:rn�y pay the same;artd that the
<br /> (a)A sum eyuat to t[►e ground rents,if any,next due,plus[he - Borrower will prompzly delivet the aflieial receipts therefor to the
<br /> — premiums that will�ext become due artd pay�ble on policies of firc. Lender.
<br /> and other hazard insurance coverinS the praperty,Qlus taaes aad
<br /> assessments next due on the property(allws estiacvted by 1he Le�rder� 5.The Borrower will pay all taxes which may be levied upan the
<br /> tess ati sums already paid therefor divided by thc numher of months I.ender's interest in said real estate ard improvements.and which
<br /> to elapse 6efore arte(1►month prior to the date when such g�oand may 6e levied upon this instrument or t6e de6t secured here6y(but
<br /> . rentc,premiums,taxcs and asse�sments will become detiquent,such only to the extrnt that such is not prahibited 6y taw and onty to the
<br /> sums to be held by Lender i�trust to pay said ground r�nts, extent that such witl c�a�inake this taan usurious).but excluding any
<br /> prcmiums,taxes aad special assessments:an� , income tax.State or Federal.impased on Lender,and will fite t[te
<br /> (b)Ali payments mertdoned in the preceding subsection of this official receipt showing such payment with the Lertder.Upon
<br /> paragtaph aRd all payments to bc madc under[he note secured ' violation af this undertatcing,ar if t��Lionower u�rohbited by any
<br /> hereby shall fie added together,and the�regate amount thereof !aw now or hereafter exi�ting frcm paying the whole or any portion ,
<br /> shall be p�id Ev the Borrower eacb mor�[t in a singte payment ta Be of the aforesaid taxes.�r�pen tlt�r��dering of any court decree
<br /> applied by t[;.z Lender tv the following items in the Qrder set forcEi_ prohibiting the payrrz�t r�s L;e ff�;r��.arer of any such taxes,er if
<br /> such law or decree prcfFie�es tfiat ac�y emount so paid by the
<br /> (I)ground rents,taxes,assessments,fire and othec hazard insur- �rroKea Glall be credited on the debt,the Lender shall have a�e
<br /> ance premiums• right tv�ev.�ninety days'written notice•to the awner af Ehe premises,
<br /> ' requiring the payment of the debt.If such a�tice be given,the said
<br /> � (U)intere*-t on the note secured hereby; uebt shall become due,payabte and collectible at the exp•:ration of
<br /> (III)amortizatian of t[TZ�riacipal of said note;an3 sa�d ninetp days.
<br /> (fY)late charges. 6.Tbat should the Borrower fail to pay any sum or iceep any
<br /> � covenant provided for in this instrumcnt,then the Lender,at its
<br /> } Any deficiency in tht amount oi such�gregate mnnthly payment optian,may pay or pe�f�:r�-�the same,and all expenditures so made '
<br /> shall,unfess made gaod by the Barrower priar io thc due date of the shall be added to the pr:7cipal sum owing an the said note,shall �
<br /> next such payment,constitute an eveAt of default under this be secured hereby,and shall bear interest�t the rate set forth in ti�e � �
<br /> marigage.The Lender may collect a"late charge"not to exceed four said noic,until paid. �
<br /> cents�4¢)for eacb dollar($1)of cach payment more tAan fifteen
<br /> (15)days in arrears to caver the extra expensc involved in handlinc 7.That the Bormwer hereby auigns,transfers and seis over to the � °
<br /> delirtquent paymenG�. Lender,to be applied toward the payment of Ihe nate and all sums ��
<br /> 3. That if the total of thcs ps►yments made by the Borrower under secured hereby in case of a default in the perform�nce of any of the : • -_
<br /> (a)of paragraph 2 preceding shall exceed the amount of payments �erms ari�c�nditions of this instrument or the said note.all the rents, —
<br /> actuall made b the Lender for round rents,taxes and assessments revenues aZd i�cor;.e to be derived from the said premises during
<br /> or insurwa��remiums,as the cage ma;:I�p,such excxss,if the loan is such time as the inJ::t�c�ness shall remain unpaid,and the I.eader ,.
<br /> current,�c�,1.'u�option of the Borrower,s!:�.!I be credite�by the shall have power to�ir�..s:nt any agent or agents it may desire for the
<br /> purpose of repairing said premises and of renting the same and �
<br /> i.ender on subsequent payments to be made by the�orrnwer,��r ����C�ting the rents,revenues and i��.aeme,and it may pay out of said
<br /> refunded to the Borrower.lf,hawever,the monthly payments made ;ncomes all expenses of repairing said premises and necessary
<br /> by th�e Borr�wer un�,,.r(a)af paragraph 2 p:eceding shall not be �,mmissianr�and expenses incurred in renting and managing the � �
<br /> suffccicnt tk.,pay ground rents,taxes and assessments or insurancc 5amc and af callec�i�g rentats therefrom:the bal.�m;e remaining.if �
<br /> �remiuins,�:��he case may be,whcn the same shall bea�mc due dr.3 any.to bc applicd toward thc discharge�f said indeotedness.
<br /> payable.then�he Barrawcr shaU pay to the Lender any amount �'��
<br /> nectssary to make up the u��ciency,on or 6efore the u'.��e when , .�
<br /> payment of sucb grounJ rentt,tazes,assessments,c,:�:�:.srance �•Thai ihe Fiorrower will keep�he improvements now exis!�*;or ;
<br /> premiums s:�a11 be due.Ii at any lime the Iinrrower�hall tendcr tu hereaftcr crected on�he property,insured as may be required irom
<br /> - time u�time by thc l.ender against loss by fire and athcr hazards.
<br /> the Lende,^,�n accardance with the prc�..a�•.^n�ui[he:nc,tc srcurcd �;,�sualties and cc,ntingencies in such amaunts and for such periods as
<br /> herebv,Eu:3 yayment�f the entire indea.:�r:��s re�resented thereby, may be reyuircd by thc l.ender and wiU pay promptly,when due.
<br /> �'.z:t.ec�er shall,in com�l�ing the amo,.a:;�f s�:h�r�S;.btednesti. ��y preni�ms an such insurance,provision for payment of wha�.i.t
<br /> �sr:�:c co the account of�t�r 8urrower any balancc r:.�c-a�amg in thc has r:c:��een made hereinbefure.AU insurancc shall be carrie�,�rr
<br /> E::s�ds ac::umutzted under:he pr��visianc of la��,f par�braph 2 herec�f. �mp�;,;�y�pprovcJ by the Lendcr and thc policfit�.�*�d res>�:�e�rs
<br /> If the�e shaG,l'sr z default unJer any of thr pruvisi�ns ut this there��i shall be held by the l.ender and have atta-J���:.c!�_ret,:,'.��,ti
<br /> instrumerst:c.w�;!::::g rn;�;sablic salc af the premises cc�vered hereuy�, a ahte elauses in favur of anJ in fnrm are � e'
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