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<br />89- 102817
<br />ilorrovi er and Lender covrnant and agree a% follow %:
<br />. That Fiotuower will pay the indebtedness, as herinbefore
<br />pro %ided Privilege is rewived to pAv the debt to whole or in part tin
<br />any installment due date
<br />2. That, together with, and in adduton to, the monthiv payments
<br />of principal and interest payable under the terms of the note secured
<br />hereby, the Borrower will pay to the lender, on the first day cif each
<br />month until the said note is fully paid, the following sums.
<br />Is) A sum equal to the ground rents, if any, next due• plus the
<br />premiums that will next become due and payable on policies of fife
<br />and other hazard insurance covering the property. plus taxes and
<br />assessments next due on the property (ail av a sfrmated by the Lender)
<br />less all sums already paid therefor divided by the number of months
<br />to elapse before one 111 month prior to the date when such ground
<br />rents, premiums., taxes and assessments will become deliquent, such
<br />sums to be held by Lender in trust to pay said ground rents,
<br />Premiums, taxes and special assessments; and
<br />(b) All payments mentioned in the preceding subsectionvt this
<br />paragraph and all, payments to be made under the note wv cuicd
<br />k=l v shall be added together, and the aggregate amount. thereof
<br />sl!%i be paid by the Borrower each month in a single payment to he
<br />applied by the Lender to the following items in the order set forth:
<br />611 ground rents, taxes, assessment %. fire and other harard. insur-
<br />antti premiums,
<br />(11) inter,° -t ors the note secured hereby.
<br />Wt3f amortization of the principal of said note, and
<br />(R). late charges.
<br />Am Jefiuee w. rn the amount of such aggregate monthly payment
<br />shall; unless madegood by the Borrower prior to the due date of the
<br />next such payment: constitute an event of default under this
<br />martgage. one Lender mat• Collect a "late charge" not to exceed four
<br />ccnri. t4e I for each dollar (,e.t ( of each payment more than fifteen
<br />(1gb dry in - merles cot th- extra expcnt�-- !nyolved in handling
<br />delinvluer. t, pak rtrsrrtts.
<br />3. That if the total of the payments made by the Borrower under
<br />(a) at patagraph 2 preceding 'shall exceed the anraunr eft payments
<br />actually made by, the Lender for ground rents,. t axes aad assessments
<br />Of insurance pn.miums. as the case mar be, salt excess, dF the loan is
<br />current, at the op zon of the Borrower, shall beavdicixA by Oic
<br />Le ndca de subsequent payments to he made by the Klir -o%es- or
<br />refund to the &shower. If, however, the mvnthly pay.mcnts made
<br />by the Borrower under (al of paragraph 2 prcxdtng shall not fx:
<br />sufficitint to pea ground rents, taxes and assessments or insurance
<br />Premiums. as the case may be, when the same shall become due and
<br />payable, then the Borrower -hall pay to the Lender any artiount
<br />nemtnn,sary to make up the deficiency, on or before the date when
<br />paym"t of such ground rents, taxes, assessments, or insurance,
<br />pcerarums shaH he due If at any time the Borrower shall tender to
<br />the Lender, in =i3rdance with the prc vistons of the rote - ecured
<br />hitreby, full payment of the entire indebtedness represented thereby.
<br />tfie Lender shall, in computing, the amount of such indebtedness.
<br />credit to the amount of the Berro%%er any balance remaining in the
<br />funds accumulated under the proc.istons of (ar sit paragraph 2 hereof
<br />If there shall he a default under any of the proitwwn . of this
<br />insrumeni resulting in a public sale of the cancer.isec covered hcrchy.
<br />or it the 1 ender acquires the property olhvrvs iw after default, the
<br />1 ender shall apply, at the time of the commencement of such
<br />proceedings, or at the time the property is otherwise acquired, the
<br />balance then remaining in the funds accumulated under (a) of
<br />patagraph 2 preceding, as a credit against the amount of principal
<br />then remaining unpaid under sail note
<br />4. That the Borrower will pay ground rents, taxes, assessments,
<br />w aici rates, and other governmental or municipal charges, fines, or
<br />unposiuons, for which provision has not been made hereinhefore,
<br />and in default thereof the Lender may pay the same; and that the
<br />tiorriwer will promptly deliver the official receipts therefor to the
<br />Lender
<br />5. The Borrower will pay all taxes which may he levied upon.the
<br />Lender s interest in said real estate and improvements, and which
<br />may be levied upon this instrument or the debt Secured, hereby (but
<br />only to the extent that such is not prohibited by law and only to the
<br />extent that such will not make this loan usurious), but excluding any
<br />income tax. State or Federal, imposed on Lender, and will file the
<br />official receipt showing such payment with.the Lender. Upon
<br />violation of this undertaking, or if the Borrower is prohibited by any
<br />law now or hereafter existing from paying the whole or any portion
<br />of the aforesaid taxes, or upon the rendering of any court deeree
<br />prohibiting the payment by the Borrower of any such taxes, or if
<br />such law or decree provides that any amount so paid by the
<br />&irrower shall be credited on the debt, the Lender shall-have the
<br />right to give ninety days Written notice to the ownpcof the premises,
<br />requiring the payment Qr die dl:bt. If such notice be given, the said
<br />debt shall ,become due, payltble and collectible at the expiration of
<br />said ninety ddyk
<br />b. That should the Borrower fail to pay any sum or keep any
<br />covenant provided for in,this instrument, then the Lender, at its
<br />option, may pay or perform the same, and all expenditures so made
<br />shall he added to the principal sum owing on the said note, shall
<br />he and shall heaar ,.nacre:! --t the rat= sct forth i.. tf.t
<br />said note. until paid.
<br />7. That the Borrower hereby assigns, transfers and seta over to the
<br />Lender, it) be applied to%acd the payment of the note. and all sums
<br />secured hecetir, in case of a default in the performance: of any of the
<br />terms aril Winjitionti of this instrument: or tl;e said note, all the rents,
<br />revenues and income to he derived fro:;t Lhe said premises during
<br />5ach time a% the indebtedness shall Cemain ueraid, arid: the Lender
<br />ghall have power to appoint dine agent or agents k riaN desire for the
<br />'purpose of repairing said premises and dEnming the same and
<br />collecting the rents, revenues and income, aind it may pay out of said
<br />Incomes all expenses of repairing said pierrrises and necessary
<br />commissions ark expetnes Incurred in renting and nacagrng the
<br />same and of sxzttecting rentals therefrom; the balance.cernaining, if
<br />any. to he applied toward the discharge of said indebtedness.
<br />R That the Borrower will keep the improvements now existing or
<br />hereafter erected on the property, insured as may be required from
<br />time to time by the Lender ag,3rsc loss b) fire and other hazards.
<br />casualties and contingencies ea. -5,ach arr+unts and for stucb periods as
<br />may ire required by the Laid%" a:, ; xekt p;y promptly, when due,
<br />any premiums, on such insurarym prca.Gisklci for payment of which
<br />has not been made herembeforf Alit' 1rsrsrance shall be carried in
<br />companies approved by the f l-mder and the policies and renewals
<br />thereof,-hall be held by Ebb: ":,raider and have attached thereto loss
<br />payable clauses in favor : i' :_ L in form acceptable to the Lender In
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