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r- r _j t 89-= 00322 To HAVE AND To HOLD the some unto the Mortgagee, as herein provided. Mortgagor represents to, and covenants with, the Mortgagee. that the Mortgagor has good right to sell and convey said premises, that they are free from encumbrance, except as hereinotherwise recited; that the Mortgagor will warrant and defend the same against the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes all rights of homestead, all marital rights, either in low or in equity, and all other contingent interests of the Mortgagor in and to the above - described premises. PROVIDED ALWAYS, and these presents are executed and delivered upon the following conditions, to wit: Mortgagor agrees to pay to the Mortgagee, or order, the aforesaid principal sum with interest from date at the rate of TEN per centum ( 10.00 %) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the office of 55 Haddonfield Road in WEEtRY HILL, NEW JERSEY , or at such other place as the holder of the. dote may designate in writing delivered or mailed to the Mortgagor, in monthly installments of SIX HUNDRED FORTY AND 63/100'* iDoHars (S 640.63 ), commencing on the first day of MARCH , 19 89 , and continuing on the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final payment of principal and interest shall lie. due and payable on the first day of FEBRUARY 2019 i all accdrdiag to the terms of a certain promissory note of even date herewith executed by the said Mortgagor. The Mortgagor further agrees: 1. He /she will pay the indebtedness, as hereinbefore provided. Privilege is reserved taj� repay at any time, without prgaium or fee, the entire indebtedness or any part thereof not less than the amoiisit of one installment, .or one hundred dollars (SIOO.00), whichever Is ligih: Freppvment in full shall be wedited, on the date ireceived. Partial prepayment., other than on-an instailitxet i due date, need not be credited until tut.- next following install- ment due date or thirty days after such fizepay ment, whichever is earlier. 2. Together with, and in additirlti to, the thonthly payments of principal and interest payable under the terms of the note secured hereby, Mortgagor will pay to Mortgagee, as trustee, (under the terms of this trust as hereinafter stated) on the first day of each month until said note is fully paid: LI t n A et, Z r ° j--' • a the :.n,es° t if °n" f next LL= , plus the premiumms that uIll t°rL become dte and .. payable on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the Mortgagee, and of which the Mortgagor is notified) less all sums already paid therefor divided by the number of months to elapse before one month prior to"the date when such ground rents, premiums, taxes and assessments will become deli geent, such sums to be held by Mortgagee in trust to pay said grW,�id rents, premiums, taxes and. special, assessments. (b) The aggregate of the aimounts payable pursuant to subparagraph (a) and those.'payabile.,on: the note secured hereby, shall'6e paid in a. single. payment each month, to be applied to the following items in the order stated: (t) ground rents, taxes, assessritents, fire and other hazard insurance premiums; (n) interest on the note secured hereby; and (III) amortization of the principal of said note. Any deficiency in the amount of any such aggregate mianthly payment shall, unless made good by the Mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage. At Mortgagee's option, Mortgagor will pay a "late charge" not exceeding four per centum (4%) of any installment when paid more than fifteen (IS) days after the due date thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" shall not be payable -out of the proceeds cf any sale made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses secured thereby. 3. If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the; Mortgagee, as trustee,. for ground rents, taxes''. aind assessments or, insurance premiums, as the case may be, such excess shall be credited by the Mortgagee on 'subsequent payments to be made by the Mortgagor for such items or, at Mortgagee's option, as ttuitee, shall be refunded to Mort- gagor. If, however, such monthly payments shall not be sufficient to pay such Items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as trustm, any amount necessary to make up the deficiency within thirty (30) days after written notice from the Mortgagee stating the amount of the deficien- cy, which notice may be given by mail. If at any time the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the Mortgagee, as trustee, shall, in computing the amount of such indebtedness, credit to the account of the Mort- gagor any credit balance accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, shall apply, at the time of the commencement of such proceedings or at the time the property is otherwise acquired, the amount then re- maining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accrued and un- paid and the balance to the principal then remaining unpaid on said note. 4. The lien of this instrument shall remain in full force and effect during any postponement or extension of the time of payment of the indebtedness or any part thereof secured hereby. S. He /she will pay all ground rents, taxes. assessments. water rates. and other governmental or municipal charges, fines. or impositions, le,.icd upon said premises and that he /she will pay all taxes le%ied upon this nuort- gage, or the debt Secured thereby, together with any other taxes or assestirnents %Nhicle may he levied tender the laws of Nebraska against the Mortgagec, or the legal holder of said prin --ipal note, on account of tiers endebledne,%. vii-me when payment for all such aeenti has theretofore been made under eal of par,tcrajste 2 hercof. arld tic .I„ will inomptly dclu.cr the (of futal receipt~ therefor to tlecMvrtg.etrcc in default thcre1+1 ttte t14•1 tt AiTc :11,0 11.1% tl:e sareec• z.