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<br />Borrower and Lerida cove"nt and agree as follows:
<br />1. That Borrower will pay the indebtedness, as hereinbefore
<br />Provided. Privilege is reServed Yea pay the debt in whole or in
<br />part an any installment due- date.
<br />2< Thar. together with, and in addition to, the monthly
<br />paytnenls 6f:brincipal and interest payable under the terms of
<br />ille 114iie4 UfW hereby, the Borrower will pay to the Lender,
<br />thsr itb .rhiy of cads month until the said note is fully paid,
<br />rat: fol43.4 sums:
<br />;;_•.:, is .
<br />{a) 24 trrr'equal to the ground rett_s, if a -w, nm, dzw elms
<br />the pmulnift that will next become dt:e ,� paj• &�+Ie.re
<br />a : ' _. •.:..: of fire init' ather hazard insurance � mvT1_L -he propaTj , pits
<br />taxes Aq,?•a ssments next due on tale .propem, (,& >,w arimared
<br />by ilre- Lejj!W/ less all sums ahead: paid iherefar ,diiided by the
<br />numberitt)iT.ttths to elapse ,before ottE fl) month prior to the
<br />date wliii:iAirh. Bound rent.%, premiums, taxes and assessments
<br />will bewmi delinquenr, suCA sums to- be held by Lender in trust
<br />to pay said ground rents. j*L- miums, taxes and dal
<br />assessments; and
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<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 shall be adiied together. and the aggregate
<br />amount thereof shall be paid by the Borrower each month in a
<br />-single payment to be applied by the Lender to the following
<br />items in the order set fortis:
<br />(1) around rents, rages, assessments. fire and other hazard
<br />insurance premiums;
<br />(Il) interest on the secured hereby;
<br />(III) amortization of tae principal of sz:_ r; and
<br />(IV) late charges.
<br />Any deficiency In the amount of such aggregate monthly
<br />payment shall, unless made good by the Borrower prior to the
<br />due date of the next sitch payment, constitute an e:L�nt of
<br />default under this mortgage. The Lender may coliva a "late
<br />charge" not to exceed four cents (0) for each dollar (51) of
<br />each pasinent more than fifteen (IS) days in arrears to cover the
<br />extra expense involved in handling delinquent payawnts.
<br />3. That if the total of the payments made by r.:.e :3orrower
<br />under (a) of paragraph 2 preceding shall excee..d, amount of
<br />Payments actually made by the Lender f-,v rents, taxes
<br />and assessments or insurance premiums, ,y:. za:ia may be,
<br />such excess, if the loan is current, at the o ;allz of t):o
<br />Borrower, shall be credited by the Lendey on s.:b :agucnt
<br />payments to be made by the Borrower, or refur,C•.,,14 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 around rents, taxes and assessments or
<br />insurance pre3niums, as the case may be. when the :amt shall
<br />become due and payabl :, tlten the Borrower shall pay i,3 the
<br />Lender any amount necessary to matte up the def r :icy, on or .
<br />before the dale when payment of sL�1; ground rents, taxes,
<br />assessments, or insurance premiums d3ali be due. If at any time
<br />the Borrower shall tender to the Le :,i~et; in accerdoce with the
<br />provisions of the note secured here?,;. SuII, payment of the entire
<br />indebtedness represented thereby, the Lender shall', in computing
<br />IN amount of such indebtedness, cral-n to the account of the
<br />ftnowel any balance remaining in ihr.' funds accumulated under
<br />the provisions of (a) of paragraph 2 he -mof. If there shall be a
<br />default under any of the provisions of this instrument resulting
<br />in a public side of the premises coffered hereby. or if the Lender
<br />acquires the property otherwise after default, the Lender shall
<br />apply, at the time 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 grounds, taxes,
<br />assessments, water rates, and otf=- govern. -:ntal or municipalf
<br />charges. fines, or impositions, ffivi which provision has not been
<br />made hereinhefdo, and in a ffatals ihereof the Lender may pay
<br />the same; aLd. 6j,:j. t:lae Borr Or, :r * ll promptly deliver the
<br />official receipm ibweor-to the Lender.
<br />5. The Borrower will pay 40 taxes ak cb may be levied aeon
<br />the Lender's interest in said mal CsvE:: =4 Enrmvements,.and-
<br />which may be levied upon this ins ect or T; a debt secured
<br />hereby (but only to the extent that such is nr.T prohibited by lbw
<br />and only to the extent that such will not make this loan
<br />usurious), but excluding any income tax, State or Federal;.
<br />imposed on Lender, and will file the official receipt showing
<br />such payment with the Lender. Upon violation of this
<br />undertaking, or if the Borrower is prohibited by any lava 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 />prohibiting the payment by the Borrower of any such taxes, or
<br />if such law or decree provides fI-are any amount so paid °by the
<br />Borrower shall be credi:� -. Y die d.bt, the Lender shall have
<br />the right to give ninety •'J s' v:=ten notice w the ownir of the
<br />Premises, requiring t �e. Epkg Tent of the defat. If such,nmice be
<br />given, the said del:. ck : become due, payav4e and mllec*.ible at
<br />the expiration of sai-I ninety ;xis.
<br />6. .^hat should the Borrowei fail to pay any sumlor keep any
<br />covenant provided fey- in this instrument, then the Lender, at its
<br />option, may pay er p. -rform the :;ame, and all expenditures so
<br />made shall be added to the principal sum owing on the said
<br />note, shall be secured hereby., .w d shall bear interest at the rate
<br />set forth in the said note, until: raid.
<br />7. That the Borrower hereby assigns. tramsfess and sets over
<br />to the Lender, to be applied toward the pclrtnent of the note
<br />and all sums secured hereby in case of a defaultfin the
<br />performance of any of the tens end conditions of this
<br />instrument or the said note, aU rf•e rents, revenues and income
<br />to be derived from the said premises during such time as the
<br />indebtedness shall remain unpaid. and the Lender shall have
<br />power to appoint any agent or agents it may desire for the
<br />Purpose of repairing said premises and of renting the same and
<br />collecting the 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 renta. % Therefrom; the
<br />balance remaining, if any. to be applied toward the discharge of
<br />said indebtedness.
<br />8. Ttlat the Borrower will korp tins improvements now
<br />existing or hereafter erected oar tB property, insured as may be
<br />required from time tET t :*ere by tie► Lender - against loss by fire
<br />and other hazards. �,L;ahies �.d contingencies in such amounts
<br />and for such periods as may i%: rcyuirediby the lender and will
<br />pay promptly, when due, any premjums on such insurance,
<br />provision for payment of which his not, been made
<br />hercinbefore. 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,;t -etrto;Toss
<br />payable clauses in favor of and m form acceptable to the
<br />4.
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