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<br />Horratrer turd Leader xoveaau aadr agree as follows;
<br />I_ That Borrower will pay Clio indebtednes,% as hereinbefore
<br />WO- vided. Fdvilese is reserved to pay the debt in whole or in
<br />Part on any installment due due.
<br />2.. That, together with,. and in addition to, the monthly
<br />Payments of principal and interest payable under the terms of
<br />the note secured hereby.. the Borrower will pay to the Lender,
<br />on the first day of each month until the said note is fully paid,
<br />the following sums:
<br />(ay A sum equal to the ground rents, if any, next due, plus
<br />the Pvmllmw that will next become due and payable on policies .
<br />of fire and obw hazard insurance aovezn; the propeaty plus:.
<br />Wtes and assessments next due Ora tr—te. Dr ty (id1; a�_> eWmated
<br />AY tie Lended less all sums z' l by the
<br />6=�ber of months to elapse prior to the
<br />due when such ground rents. vim. es and assessments
<br />will become delinquent, such s---,Ms Iz +.ae j: eld by Lender in trust
<br />to pay said• ground teisis, pra'!r4tims, taxes and special
<br />assessments; and
<br />(b) All payments mentioned in the preceding subsection of
<br />this paragraph and all payments to be made under the note.
<br />secured hereby :Mall be added together, and the aggregate
<br />amount thereof s't'all be paid by the 12c(at3wCr each month in a
<br />sir &- payment to be applied by the fai1r'to the falfc:Aring
<br />flatus in the order set forth; .
<br />(7) ground rents, taxes, as5esstn=Q- ;.15,e and other hazard
<br />insurance pradurns;
<br />(II) interest on the note secured hereby;
<br />(III) amortization of the principal of said note; and
<br />(IV) late charges.
<br />Any deficiency in the amount Of'such ?,Ur:gate monthly
<br />payment shall, unless made good by the Ev-,rower prior to the
<br />dze date of tthe next such payment, constitute an em, t of
<br />fault under this mortgage. The Lender may collect a "late
<br />charge" not to exceed four cents (4c) for each dollar (Sl) of
<br />each payment more than fifteen (15) dri;;:s in arrears to cover the
<br />extra expense involved in handling d:Urijw-it payments.
<br />3. That if the total of the'•payn. ents made by the Borrower
<br />under (a) of puagraph 2 Priwofing shall exceed the amount of
<br />Payments auxuaily made by the Lender for ground rents, taxes
<br />and assessinens or insurance premiums, as the case may be,
<br />S011crcess, if the loan is current, at the option of the
<br />13004►wer, shall be credited by the Lender on subsequent
<br />payments to be trade by the Borrower, or refunded to the
<br />]Borrower. If. however. the monthly payments made by the
<br />Borrower under (a) of paragraph 2 preceding shall not be
<br />sufficient to pay ground rents. taxes and assessments or
<br />insurance premiums. as the case may be. when the same shall
<br />become due and payable. then the Borrower shall pay to the
<br />Lender any amount necessary to make up the deficiency, on or
<br />before the date when payment of such ground rents, taxes,
<br />assessments, or insurance premiums shall be due. If at any time
<br />the Borrower shall tender to the Lender, in accordance with the
<br />Provisions of the note secured hereby. full payment of the entire
<br />indebtedness represented thereby. the Lender shall. in c.,1nputing
<br />the amount of such indebtedness. credit to the account of the
<br />Borrower any balance remaining in the funds accumulated under
<br />the provisiotrs Of (a) of parapaph 2 h:rcof. If there shall be a
<br />default under any of the provisions of this in.st►ument resulting
<br />in a public sale of the premises cotered hereby, or if the Lender
<br />y
<br />acquires the property otherwise after default, the Lender shall
<br />apply,. at the tin- of the commencement of such proceedings, or
<br />at the time the property is otherwise acquired, the balance then
<br />remaining in the funds accumulated under (a) of paragraph 2
<br />preceding. as a credit against the amount of principal then
<br />remaining unpaid under said note.
<br />4. That the Borrower will pay ground rents, taxes,
<br />asses$mmm, water rates. and Other governmental or municipal
<br />charges. fines, or impositions, for which provision has not been
<br />made hereinbefore, and in default thereof the Lender may pay
<br />the same; and that the Borrower will promptly deliver the
<br />official receipts therefor. to the Lender.
<br />S. The Borrower vigil); psy all tries• ,Which may be levied upon
<br />the Lender's interest 'irr real e%rwsr and improvements. and
<br />which may be levied, this hr_.,fta nt or the debt secured
<br />hereby (hut only to tke_ittttnt that such is not prohibited by law
<br />and only to the enen1:�•ifsar.such will not make this loan
<br />usurious). but ex&s49 ;,y ;Acouir tax, State or Federal,
<br />imposed on Lender, zv_d.will file the official receipt showing
<br />such payrain with the Lender. Upon violation of this
<br />undertakii g,. cr if the Borrower is prohibited by any law now or
<br />hereafter existing from paying the whole or any portion of the
<br />aforesaid taxes, or upon the rendering of any court decree
<br />prohibitirg the payment by the Borrower of any such taxes, or
<br />if such- r �, ar decree provides that easy amount so paid by the
<br />Bormw=r hull be credited on the deist the Lender shall have ".
<br />the rig!-it.: m give ninety days' %T., notice to the owner of t;
<br />premis;.r.quiring the p riji e, ? .:, . debt. If such notice use'
<br />given, di4 said debt s'L�(I fAa;a?��. ; �G, payable and collecti',.r: ;
<br />the exp'rttitret of said ffjMia Cis s..
<br />6. Thu should the Borrawei fait imy any sure or keep any
<br />cwverna:;1lx ,.;vided for n '11tis insirzyme, then the Lender, at its
<br />eption, maf pay or peTfu'•css the ssa,� ;d . and all expmclitures so
<br />made sha-T ire added to the princiPa:f%m owing on the said
<br />note, shaib be secured hereby, and illait bear interest at the rate
<br />set forts; in the said note. until pa:f�,
<br />7. Tl!-41 the Borrower: hereby assigns, transfers and sets over
<br />to the Jjzuck. to be applied toward the payment of the note
<br />and ZZ-4 i.,r:.s secured hereby in case of a default in the
<br />perform 12.11;4 of any of the terms and conditions of this
<br />instrurron ar the said note, all the rents, revenues and income
<br />to be drwitil, from the said premises during such time as the
<br />ind tiredness shall re.:,afn unpaid, and the Lender stall have
<br />Fowzr to appcfai :say agent or agents it may desire for the
<br />Purpose of NniMIFL said premises and of renting the same and
<br />collecting tits rents, revenues and income, and it may pay out of
<br />said incomes all expenses of repairing said premises and
<br />necessary commissions and expenses incurred in renting and
<br />managing the same and of collecting rentals therefrom; the
<br />balance remaining, if any. to be applied toward the discharge of
<br />said indebtedness.
<br />B. That tine Borrower will keep the improvements now
<br />existing or hereafter erected on the property. insured as may be
<br />required from time to time by the Lender against loss by fire
<br />and other hazards, casualties and contingencies in such amounts
<br />and for such periods as may be required by the Lender and will
<br />pay promptly. when due, any premiums on such insurance,
<br />provision for payment of which has not been made
<br />hereinbefore. All insurance shall be carried in companies
<br />approved by the Lender and the policies and renewals thereof
<br />shall be held by the Lender and have attached thereto loss
<br />payable clauses in favor of and in form acceptable to the
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