89102683 - Laserfiche WebLink

Browse

r 1� I 89-102663 ca► 1 sun, c►liml to the ground rent%, If :my, next title. plus the prennunts that will inxt become .lite and payable an policies tit tire anti other hazard in %urance covering (he properly , plus clie% and a%sesslllents next title till the property (till (1► esroftule'd hi, rile Uolde•rr less all sorts alrcadt pald thercior dis Ideal by the number of months to elapse before tine t I) month prior to the .late %%hen %uch ground rent., prenuunls, taxes and a% %e%%incnts will become delinquent, such sums tit he hold by Lender in trust tit pay %aid ground tents, premiums, tares and special assessments; and (hl All payments mcnut►ncd in the prec. ding subsection of this paragraph and all payment. to he nutde under the note %ecur.M hereby shall be addt:d together, and the aggregate amount thereof %hall be paid by the Horrower each month in a single payment to lie applied h) the Lender tit the following items in the order set firth: all ground rents, taxes, assessments, fire and other hailard insurance premiums: (ll) interest tin the note secured hereby. and (111) amortization of the principal of said note. Any deficiency in the amount of such aggregate monthly. payment %ha P. unless made good by the Burrower prior to the due date of the next such payment, constitute an event of default under this mortgage. The Lender may collect a "late charge" not to exceed four cents k * t for each dollar (S1) of each payment more than taftccn 0 5) days in arrears to cover the extra expense involved in handllarig delinquent payments. 3. That if the total of the pay ments made by the Borrower under la) oL paragraph 2 preceding Sh"01 exceed the amount of payments actually made by the Leader for ground rents. taxes and assessments or insurance premiums, as the case may be, such excess, if the loan is current, at the option of the Borrovxcr, %hall he credited by the Lender on subsequent payments to he made by the fio ►rrower, or refunded to the Burrower. If, however, the tnnnthty payments made by the Borro\\er under (a) of paragraph 2 preNcding shall not be sufftceart to pay ground rents, taxes and assessments or insurance premiums, as the case tray he, whrtttl c rune shall become due and payable, then the Borrower shall pay to the Lendceany amount necessary to make up the def ictenc y , on or hetd\rc the date when pay tncrl2vG such ground rents, taxes. assessments, or insurance M—miums shall be due. If at any time the Elv m,«ser shall tender e:* tht, Lczder, in accordance with the provisions of the nc�tz•'seeured hereby, full payment of the entire indebtedness rcpre z. ,:4 tht?iby , t~he l -ruder shall. in computing the amount: of such in- Jebtednc%%. credit to the account of the Borrmser,Lrr)' lei 47N7e rtr"rllaipinp „-the funds accumulated under the pr.st•isions of ta) of paraeltaph 2 hereot. If there •!r V N: a deCiul•r under au,> of the prosssa4�ns of thu. m %trument resulting in a public sale of the premises covered herehy . or rt:'t . lender acquires ONo property stth% :rwise atiCt,�r• default, the Lender shatt apply, at the time of the commencement of ouch, proceedings, or at the tone the &kiNrty is othcrts,ise acquired, the balance then re- maining in the funds accumulated under (a) tit paragraph 2 preceding• as a crsc:it against the amount of principal then remain- ing unpaid under said note. 4. That the Borrower will pay ground rents, taxes. assessntciits. v+ af;r rates, and other governmental or municipal charges, lines. or impositions, for which provision Itas ntrt t- cta madc hcr,in'C'N-rc. and in default thcrecof the Lender may pay the same: and that the Horrowcr will promptly deliver the official receilrc% therefor to the Lender. S. The Btrrower w elf pay all takes which may he toted upon the bender's mucrc %(. in said real estate and imp-1 wements. ; and which may be levied upon this instrument or the debt secured hereby (hut only to Ov extent that such is not prohibited �= by law and only to the extent that such will not slake this loan usurious), but excluding any income tax, State or Federal. imposed on lender, and will file the official receipt showing such payment w nh the lender. Upon vtotatton of this undertak- mg, or if the Borrower is prohibited by an) law now or hereafter existing fnarn paying the whole or any portion of the aforesaid tares. (Ir upon the rendering of an) coup decree prohibiting the payment by the Borrwaer of any such taxes. Air is such law ; or decree prov ides that any amount %t► paid by the Borrower shall be credited on the wart. the Lender shall have the right ' to give ninety days' written notice to the owner of the premises, requiring the payment of the debt. If such r-ettice be given, the said debt shall become due, payable and tiillectihle at the expriation of said ninety days. 6. That should the Borrower fail to pay any sum or keep any covenant provided for rn this instrument, then the Lender. at its option, may pay nr perform the same. and all expenditures %e► made shall he added to the principal sum owing on the above note. shall h;. ,,..-cured hcrehy . and shall bear interest at the rate -set forth in the said note. until paid. 7 That the Borrowcr hcrcb% assigns. transfer. and %ors over to the Lender. to hre applied toward the payment of the note and all sums secured hcreb% in case of a default in the performance of any of the Corms and conditions of this instrument or the said note, all the rents, revenues and income to he deri%ed from the said premisc- daring such time as the indebtedness %hail remain unpaid. and the tender shall have: lF -wer to appoint any agent or agents it : z: y distre for the purpose of repairing said premises and of renting the ame and coAlecting the rents, revenues and income., and it may pay out of said incomes all expertscs of repairing %aid premises and necessary cummisstons and eirpense% incurr d in renting and managing the same and tit - collecting rentals therefrom, the balance remaining., If any. to he applied tow,ird the discharge of ,aid indebtedness. ft That the Borrower will keep the improoernen1% r,au existing or hereafter erected on the properly, insured as may he required from time to time hs. the Lender agaimt loss by fire and other hazards, casualties and contingencies to such amount,. and for such period% a% may he required by the Lender and will pay promptly. when due, any premiums on such rrt%uran.e provi %urn for payrnent of which has not been made hcteinhefore All insurance shall be carried u► companies ap- prened by the Lender and the ItiOicies and renewal% thctcof shall he held by the Lender and have attached thereto Io%% payable t Iau%c% in fh:,ir of and in town a.cep(ahlc Ill the lender In event of to %% Mirnower vvill live unmediate notice by mall to the Lcnder.who May Make pnNlf of lo%% it not made promptly by Botitlwer. and ca.h inwrancc utmpanv o mcerned i% hcrc•hv f�}( aulhorlred and directed to make peymcnt for such lo%% directly ti, the tender m %toad tat tr thi• liommet and the Lcndcr wind). and the imurarue proceed%, tat any pact thereof. flay he applied by the Lender .11 it% oplirlr, rather to the redu.tton ,rt the indehicdmc %% hcrehv secured In Io the rc,lorarltln or tc11.111 t`I the prt,perls Il.rnl-11901 In t wni art iorc.lo%ure of Ihf% r.j 111%Ifumte111 r•r ther tran %err ,•t title i,%the tcmrtgarcet prtrlte•ri% In r.tii,guj,hnte'n! t,t the inllch!talnc %, �c't ofcd herehv. Al ttylit ��, w'.. .Ural ttdrr,•.I „i Ili” I 1n attd to afn tD,1jr.11nc pr,lr.tr•. thou it'. 1nttC 41.111 (,.l••, to lit, (`II1.11.t %1'1 „I 1'1.111Ttt .1 ', .n.rt .,11,1. dl.tt foil ,r . tit u, i I Ili: {veu lit . •I the. 1, 4 .1. „ • 1i`• .! ,rt3 ail '11" , f. • hr. •al r ,hp. , ldc: r!., char, r ` ,t 1t••f t••,%, t r„y, L. f „!t1 t., Ih• 1 t 10't .,1. I.f. lit, It 4, ;rid '%lh tit. . ,,t I: •:r ..., r ,.tact r a:,. • ,.1 .,I' a t -, r.r , r,t` •.rt.f I iron n •I. ! ' ., .1i L., r� „ •! 01111► 41141 ill ••