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<br />Borrower and Leader eavetasnt and agree as follows:
<br />1. That Borrower will pay the indebtedness, as hereinhefore
<br />provided. Privilege is reserved to pay the debt in whole or in
<br />part on any installment due date.
<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 />(a) A sum eel :3': t^ `,tit g;(uad rents, if any, next due, plus
<br />the premiums $iNta- -qiM dean !*some due aad payable on policies
<br />i
<br />acquires the property otherwise after deftlillt. the Lender shall
<br />apply, at the time of the commencou►tolk4f such procec-dings, or
<br />at the time the property is otherwism acquired, the balance then
<br />remaining in the funds accumulated undid: (a) of paragraph 2
<br />preceding, as a credit against the amountOf principal then
<br />remaining unpaid under said note..
<br />4. That the Borrower will pay ground- rents. taxes.
<br />assessments, water rates, and other; governmental or municipal
<br />charges. fines, or impositions. fon which provision has not been
<br />made hereinbefore, and in def kith'thereof the Lender may pay
<br />the same; aad that the Borro>♦A will .promptly deliver the
<br />official reoespts thcmfor- to tO Lender-
<br />of fire and oti a hazard lrl- -Ante covenrt§ khe property. plus 3 tTre Hhi r+nver: tv 11 #r s 2ti t3. ti±.lich m'pie ieAizd :.-Pero. .
<br />taxes and assessments ne..t tqa .an the prop=y fold aF eVirr:c_e: - e Leader' :�x)r ;iii ;aid t.it es wn g^ maTJa tee : and,
<br />b,y i:$e Leader) less all sums dlv paid therefor diwi ded by the na.L A� tcWh % ant secured
<br />r Ixr of mouths to elapse ioeSa_rr one (t A _month prior <a :h r
<br />'3;
<br />hereby (bust w-rJ � a thz- cent that s:.d is. aw. p13h"sbited by. law
<br />:+004tee such ground rents, -p:wtiitrn ta_Ves and
<br />.
<br />and only to .lie rte:': rr ; rich w ate t2�e tns.;idari
<br />s*-.Tr_ bg6m. e ,,Jda. -quent, such sums to be TmU by Lender is m:si
<br />usurious), � ��+ral :' •-
<br />�
<br />to � 3 said SrP un3 rents, P remiums, kes and s ecaf
<br />imposed nn I ends+', mcf c vial rec°++s g?rra�jT�Q
<br />y
<br />assessments; aad," .
<br />such payment Wah the Lender. Upon: folation of this.
<br />(b) All payments, mentioned in the preceding subsection of
<br />undertaking, or if tht_i3errower is prohibited by any law now or
<br />this paragraph a--A all payments to be made under the note
<br />hereafter existing from, paying the whole or any portion of the
<br />secured hereby stall be added together, and the aggregate
<br />aforesaid tares, or upan the rendering of any court decree
<br />amount thereof ;hall be paid by the Borrower each month in a
<br />prohibiting the paywit by the Borrower of any such taxes, or
<br />single payment to be applied by the Lender to the following
<br />if such late or deicrrp provides that any amount so paid by the
<br />items in the order set forth:
<br />Borrower shall be valited on the debt, the Lender shall have
<br />the right to givee., niorty days' written notice to the owner of the
<br />(1) ground rents. taxes, assessment~, fire and other hazard
<br />premises, rw4uuing the payment of the debt. If such notice be
<br />insurance premiums;
<br />given, the surd debiishall become due, payable and collectible at
<br />(11) interest on the note secured hereby:
<br />the expiration of su4id ninety days.
<br />(111) amortization of the prinkipal of said note; 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 such payment, constitute an event of
<br />default under this mortgage. The Lender may collect a "late
<br />c a*ge" not to exceed four cents (4¢) for each dollar (41) of
<br />each payment more than fifteen (19) days in arrears to cover the
<br />extra expense involved in handling delinquent payments.
<br />3. That if the total of the payments made by the Borrower
<br />under (a) of paragraph 2 preceding shall exceed the amount of
<br />payments actually made by the Lender for ground rents, taxes
<br />and assessments or insurance premiums, as the case may be.
<br />such excess, if ahe loan is current. at the option of the
<br />Borrower, shall be credited by the Lender on subsequent
<br />payments to be made by the Borrower, or refunded to the
<br />Borrower. If, however, the monthly payments made by the
<br />Borrower under (a) of paragraph 2 preo,aci,ng 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 computing
<br />the amount of such indebtedness, credit to the account of the
<br />Borrower any balance remaining in the funds accumulated under
<br />the provisions of (a) of paragraph 2 hereof. If there shall be a
<br />default under :ny of the provisions of this instrument resulting
<br />in a public We of the p_reujj ses covered hereby, or if the Lender
<br />6. Thai should tlto Borrower fail to pay any sum or keep any
<br />covenant provided far in this instrument, then the Lender, at its
<br />Option, ntciy pay ors perform the saute, and all expenditures so
<br />made shall he a;ided!to the principal sum owing on the said
<br />note. shall be se+ m d hereby, and shall bear interest at the rate
<br />sec forth in the staid note, until paid.
<br />7. T1i t Ou,. Borrower hereby assigns, transfers and sets over
<br />to thr Leader, tit-be applied toward the payrtent of the note
<br />and all sums srwared hereby in case of a default in the
<br />perform3taw of, any of the terms and conditions of this
<br />instrumena of tier said note, all the rents, revenues and income
<br />to be darned ham the said premises during such time as the
<br />indi birdrnss shall remain unpaid, and the Lendey ,�ttall have
<br />power to appaint any ?gent or agents it may desire for the
<br />purpose of repairing said premites and of renting the same and
<br />collectinc Iles+ rents, revenues and income. and it may pay our of
<br />said irttxnrtts all expenses of repairing said premises and
<br />nmemailt commissions and expenses incurred in renting and
<br />mans.;paj; thi. same and of collecting rentals therefrom; the
<br />bala.mc rermining, if any, to be applied toward the discharge of
<br />said irtdeNidness.
<br />8. Tlinkthe Borrower will keep the improvements now
<br />existini) of hereafter erected on the property, insured as may be
<br />mclWtttllfrout time to time by the Lender against loss by fire
<br />an,.1 mltet hazards, casualties and contingencies in such amounts
<br />ani for such periods as may be required by the lender and will
<br />pays promptly, when due, any premiums on such insurance.
<br />p.:t►►iiion for payment of which has not been made
<br />btretnbefore. All insurance shall be carried in companies
<br />approved by the Lender and the policies anti tedewols 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
<br />of S w� J•92rGs� t
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