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<br />Bormxer arid Lerida eovettaet and aarer as iolbw3
<br />1. That Borrower will pay the indebtedness, as hercinbefore
<br />provided. Privilege is reserved to pay the debt in whole or in part on
<br />any installment due date.
<br />2. That, together with, and in addition to. the monthly payments
<br />of principa) and intert~n payable under the terms of the note secured
<br />hereby. the Borrowtr will pay to the Lttxkr. on the first day of each
<br />month until the said we is fully paid, the following sums
<br />(a) A sum equal to the ground rents. if any. next dm plus the
<br />Premiums that will next become dare and payable on policies of fire
<br />and other hoard insurance cotl;riag the property. plus taxes and
<br />assessments next due on the property fall as esrinntated by the Leerder)
<br />Bas all sums already paid Ikerefor divider! by the number of months
<br />to elapse before one (1) month prior to the date when such ground
<br />tents premiums, taxes and assessments will become deliquent. such
<br />sums to be held by Lender in trust to pay said ground rents,
<br />premiums, mies and special assemn -mrs; scd
<br />(b) All payments menfticred is the pi=ding subsection of this
<br />paragraph and all paytrA=to be made under the notesecured
<br />hereby shall be added together. and the aggregate amount thereof
<br />shall be paid by the Borrower each trestb in a single payment to be
<br />applied by the lender to the following items in the order set forth:
<br />(1) ground rents, taxer, assessments, fire and other h=rd insur-
<br />ance premiums;
<br />(11) interest on the note secured bv*-J..,
<br />(III) su=ction of the principal of as note; and
<br />(IV) late charges.
<br />Any deficiency in the amount of such aggregate monthly payment
<br />shall. unless made good by the Borrow -,�i prior to the due date of the
<br />next such payment, constitute an every, cI default under this
<br />mortgage. The Lender mavrollect a Nz3 a charge" not to exceed four
<br />ants (40 for each dollar 4tj i of each payment more than fifteen
<br />(15) days in arrears to co= -the extra expense involved in handling
<br />delinquent payments.
<br />1 That if the total of the payments made by the Borrower under
<br />(a) of paragraph 2 preceding shall exceed the amount of payments
<br />actually made by the Lender for ground rents. taxes and assessments
<br />or insurance premiums. as the case may be. such excess. if the loan is
<br />current, at the option of the Borrower, shall be credited by the
<br />Lender on subsequent payments to be made by the Borrower. or
<br />refunded to the Borrower. If, however., Or. monthly payments made
<br />by the Borrower under (a) of paragre u 2 preceding shall not be
<br />sufficient to pay ground rents. taxes W..t, assessments or insurance
<br />premiums. as the cue may be, when firi same shall become due and
<br />payable. &i'2t. the Borrower shall pay to• the Lender any amount
<br />necessary �: a make up the deficiency. on °cr before the date when
<br />pyment of such ground rents. taxes. assessments, or insurance
<br />rremiums shall be due. If at any time the Borrower shall tender to
<br />the lender, in accordance with the provisions of the note secured
<br />hereby, full payment of the entire indehriadness represented thereby,
<br />the Lender shall. in computing the amcutnt of such indebtedness.
<br />credit to the account of the Borrower a .'v balance remaining in the
<br />funds accumulated unde• dire pm-4sions of (a1 of paragraph 2 hereof.
<br />If there shall be a defaaJV wnrcr any of the provisions of this
<br />instrument rCSUii`.Irr in a public sate of th;! premises covered hereby.
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<br />or if the Lender acquires the property otherwW after default, the
<br />Lender shall apply. at the time of the commencement of such
<br />proceedings, or at the time the property is otherwise acquired. the
<br />balanct then remaining in the funds accumulated under (a) of
<br />paragraph 2 preceding. as a credit against the amount of principal
<br />then remaining unpaid under said note.
<br />4. That the Borrower will pay ground rents, taxes. assessments,
<br />water rates, and other governmental or municipal charges. fines. or
<br />impositions, for which provision his not been made hereinbefore.
<br />and in default thereof the Lender may pay the same: and that the
<br />Borrower will promptly deliver the official receipts therefos to the
<br />Lender.
<br />5. The Borrower will pay all taxes which may be levied upon the
<br />Lender's interest in said real estate and improvements, and which
<br />may be levied upon chi's instrument or the debt secured hereby (but
<br />only to thy. extent that such is not pm!Hbited by law and only to the
<br />extent that such will not make this loan usurious), but excluding any
<br />income tax. State or Fed.. -rai. impas:f3 a� Lxxder, and will file ove
<br />official re mpt showing such paymeni %.ith the Lend= Upon
<br />vioIai:�tr.7 of this undertaking, or if the iorrower is prdfly red by.any . .
<br />law =' w or hereafter existing from paying the whole or any pdrt3�n
<br />of the aforesaid taxes. or upon the rendering of any court decree
<br />prohibiting the paymcF., by the Borrower of any sdcb taxes, or if
<br />such law or decree p- aides that any amount so paid by the
<br />Borrower shall be credited on the debt, the Lender shag have the
<br />right to give ninety days' written notice to the owner of the premises.
<br />requiring the payment of the debt. If such notice be given, the said
<br />debt shall become daQ.pavable and collectible at the expiration of
<br />said ninety days.
<br />6. That should the Sorrower fail ucc pay any sum or keep ary
<br />covenant provided for in this instrument, then the Lender, at is
<br />option. may pay or m rearm the same. and all expenditures so made
<br />shall be added to Z:-t r'lmcipal sum owing on the said note. shall
<br />be secured hereby, and shall bear interest at the rate set forth in the
<br />said note.. until paid.
<br />7. Tk a tta.- Borrower hereby assigns, transfers and sets over raj- tµ;e
<br />Lender. no be applied toward the payment of the note and all s rm.
<br />secured taneb% in Case ota default in the performance of any car vin'.
<br />terms ard' cenditiors on pis instrument or the said note. all c r milts,
<br />revenues.ard tncc ,J in d:rivo]l from the said premises dttirg;
<br />such urr:e as the ir4'=1 ' :..:=5,4i :l1 rw.main unpaid. and the Lender
<br />shall have power 'm arm; tt any agent or agents it may desire for the
<br />purpose of repa,r3r-2 said premises and of renting the same and
<br />collecting the rents. - =;c Cues and income. and it may pay out of said
<br />incomes,al] expenses of repairing said premises and necessary
<br />commiss :cis and expenses incurred in. renting and managing the
<br />same and of collecting rentals thereGrotn; the balance remaining. if
<br />any. to be applied tni>;ard. ;te di,;3t:�t;ya ref said indebtedness.
<br />8. That the Borrower will keep the improvements now existing or
<br />hereafter erected on the property. ansumd as may be required from
<br />time to time by the Lender against loss by ire and other hazards.
<br />casualties and contingencies in such amounts and for such periods as
<br />may be required by. the Lender and will pay promptly. when due.
<br />any premiums on such insurance. provision for payment of which
<br />has not btsn made hereinbefore. All insurance shall be carried in
<br />compEnies approved by the Lender and the policies and renewals
<br />thereof stall be held b)• the Lender and have auached thereto loss
<br />payable; clauses in favor of and in form acceptable to the Lender. In
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