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<br /> gonpNret apo l.eedet eo�enant and a�ree a.folfovrs or�f the Lender acqu�res thc praperty othcrurise after default,thc
<br /> ; � .. Letider shatl apply,at�he[imc iit the w�nencement of sach
<br /> 1.That Barrower will p2y�he indebtedness.as Aereinbefore pro�eedin�s,or at the time t[�e propeny is otherwise acquired,the
<br /> provided.Privi(ege is reserved to pay the debt in wh4te or in part on 6atanoe then remaining in the funQs nccumutatod under(a)of .
<br /> any iQSlaliment dtte da[e. p3r.tgrdph 2 ptepeding.as a rredit against the amount of principal
<br /> ' • . then remaining unpaid undersaid note.� �
<br /> 2.Tha�together with,and in addition ta,the mopthty paymen� � �
<br /> o�principa!artd intuest payable undet the terms of the aote secured 4.That thr Baaawer wilt pay ground rents,taxes,assessments.
<br /> . hueby,tf�e Bo�rower will pay ta the Lender.on the first day of eacb water rat�,and other governmental or muniapal c6uges.fines.or ' •
<br /> monih unEil the said note is fu!{y paict,the follaKing sums: impositioas.far wlrich provision h�s nat heea made herem6efore,
<br /> and in defauft thereof the,[.ender may pay the sam�and ehat the
<br /> (s)A sum equal ta the ground rents,if any,aext due,plus the Boao�rer wiU promgiiy detiver the oiticia!reoeipts therefar to the
<br /> premiums that wil!atxt become due and payable on p�iicies of fire txnder.
<br /> and nther huard insurance covering the property.ptus taxes aad �
<br /> ass�scmenu next du�on the propeny i�j���red by tPre Le�rder) 5.The eorrowrr will pay alf taxes which may be Eevied upon the
<br /> less aU sums almdy paid thecefor divi4ed by the numher o€months I.ertdec's inteces�in said ceal extate and impravements.and whicb
<br /> w etipse before one(1)month prior to the date when such ground may be fevied upnn this instrument or the debt secured hereby(but
<br /> rents.pncrniums,taxes and assessments wll 6ecnme deligaen�such onty to she eztent thac such is not pro6ibited by Iaw aisd onlg tQ the .
<br /> • sums to be held by Lender in trust to pay said ground rer►cs, extent thac such wi0 aat make this toan usurious),but exctuding any
<br /> " prcmiums.taxes aad special assesments:and ' income taa.State or Fed�al,impased on I.ender,a�3.mU file the
<br /> (b)Ap payments mentioned in the preceding subsectian of this p�eial cec�eipt showi��s�payment witb the t.eRdw ilpon
<br /> paragrapit artd all paymcnts tn 6e made nnder the.aote�ecured �v�otation of this underra�c:rr�,ar if the Bonower is prohibited by-asy
<br /> h�eby shxll be added together.and the aggregate amou*_�thereof �aNr now ar hereafter ea:sting from paying the whote or any pc�itien
<br /> �a11 be paid by[he Borrower each montEt in a singte�::nem to be of the afe*�-�d iaxes..��cpon the rertdering of any c�uri decr�-
<br /> appTied by the Lender to th�folTawing it�r»s in tAe erder set fonh: � Prohibit:=��...�aayr.:r„��!tbe Borrower of ai�y sud�.a�cgs.or if
<br /> � such law or decree p:asv�es that any amoun!so paid by the
<br /> Borrower shal!be credixd on the debt,the Lender shall flave the �
<br /> (1)ground rents.taxes,assessmencs,fire and other lcx�ard insur- ��ght to give ninety days'written rtotice to the owner of the ptemises, . �
<br /> ance premiums; ' � requiring the payment of the de6t.If sucB nouce be given.the said .
<br /> (II)inte�s eo the note seFured liereby:.. � debt shall aecnme due,payable and cotiectibte at the eapiration of '
<br /> (11I)amart¢�tion oi the principal of sar.�nate:and ' ��d nirtety days. ;
<br /> . (IV)late charges. � 6.Thatshould the.8oaower fail to pay any susn uz keep any .
<br /> covenan:�noi,ided fat in this ins[rument,then the i,ender.at its :
<br /> Any deGciency in the amount of such a�g�egate monthly paymem a�uan,r,�.��ay or�Serform the same.and ail expeIIdicures.sa�. ' + --��
<br /> shall,unless made gaod by the Bottawer p�ior ta the dac date of the Shal1 be added ta the priatipal sum owing oa ths said note,s�.i6 E
<br /> . next suCh paymen�wnstitute an eve�t of default under this be secured hereby,and sliatl 6ear inter�t at the rate set forth in the
<br /> mortg�ge.The l.ender may wllect a"tate charge'not to exceed four ��d note,until paid.
<br /> cenls(4¢�for eacb doltar IS 1)uf each payment more th.an fifteen . �
<br /> (15)days in arrears to cover the extra expense involve�c:r handting 7.That the&�rrawer hereby assig�ss,transfers and sets over to ti�e•. - =
<br /> delinqvent payments. Lender,m be appiied toward Ihe payment of the note artd all sums ` �
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<br /> secured hereby in case nf a defauit in the pertormance.of any of the : ' =-
<br /> 3. That if the total of the payments made by the Borrowe�under �rms and conditions af t2ris instrument or the said nate.all the rents, "
<br /> (a)af paragraph 2 prer,eding shall exceed the amount of payments ��,�ues and income to be derived from the said premises during � .+�
<br /> actualty made by the Lender f�r grnund rents,taxes artd astesaments sucb time as the indebtedness sha11 remain unpaid.and the l.ender
<br /> ar insurance premiums,a�cF.�case may be,such exc;ess,if the luan is shall have power to appuint any agent or agents it may desire far�he
<br /> curren�at the optiun of the itorrower,shaU be credited by the purpose of repairing s�c«�premises and�f renting the same and
<br /> . l.cnder�n subseyuent paymen�y to be made by the Borrower,or ��,�J�i�ng the ren�.r,ce�enucti and irtc��mc.and it may pay uue nf said ' �
<br /> refundcd to the Borrower.If,hnwever.�he munihly paymemti madc �ncomc�ap cxpcn�c�uf repairing tiaid prcmi+eti and nc�;estiary ' "
<br /> E�y thc Borrower under(a!nf paragraph 2 preceding shaU nne be «smmitisions and ex n�c incurred in rentin and mana in the • �`�
<br /> ��bcient to round�ents,taxes and assessments or insurance � � g $ ��`�
<br /> paY� same and af collecting rentats therefrom:thc balance remaining.ii
<br /> premiums,as the case may be.when the same chafl6eos�e due ar,� any.to be applied toward thedischarge of said inAebtedness. , �`
<br /> psyable.thee�che Borrawer shall pay to cf:e Lender any amuunt �� � ,
<br /> nccessary to make up the deficiency,o�s�r before the dale when K.That the 8arrnwer will kecp tRe improvemer�ts aow existing ur �
<br /> payment oisuch ground ren�s,taxes,355Easments,��r insurancc hcreaftcr erected nn the Fraperty,insured as may i�e reyuired from
<br /> ptemiums shall be due.ti'at any time t!^e&�rn�wcr shall tender tu ��me ta time by the Lender agains�luss by 6re and other hazards,
<br /> the Lender.in ar.cordan�w;:h the prati itii�mti�tif the n�►te secu�eJ �sualticti and contingencies in yuch am�►unts aad for sueh periads as
<br /> hereby.full payment of thr entirc indehta:nes.ti represented thereb,y, may tx reyuircd by thc Ixnder and will pay pron��ciy,when due.
<br /> the Lxnder sh�ll,in compctir.g thc amou.r.o of such indebtednc�s, any premiums on such insurance.provisian for pzyraent oi which
<br /> ..credit ta the.account of tAe Bnrn�wer any batance rema�ning in�h: _h�s.�ut.bcen r[�ad�her�in.bcf�te.All insuran�;e.st;�it_be carried in ..
<br /> � f�nds accumulated unde�thc ��ri�vis►ans of Ia�of eragta �h 2 herevt. � �� �� � � � �
<br /> P P' P c;omyaniec,appruved by the l.ender accL�he pal�cies and renewal�
<br /> tf there shatl be a detauit under any uf the pruvisios�::ff�hiti thereui shall be hefd by�he Lender.�r.G 2:ave attached theretn loss
<br /> instrument resuiting in a public sale of th�premises co�cred herehy. payablc clauses in favur nf and in form acccptabie;c,�he l.ender.ln
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