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<br />Borrower and Lender covenant and agree as follows:
<br />I That Borrower will pay the mdebtednt�, as hcrcinbcfiire
<br />Provided. Pri%ilege 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 principal and interest payable under the terms of the note secured
<br />hereby, the Borrower will pay to the Lender, on the Rest day of each
<br />month until the said note is fulty paid, the following sums-
<br />(a) 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 fire
<br />and other hazard insurance coo cnng the property, plus taxes anj
<br />assccsaetents next due c,in the property (atl as esrfnated hu CC- tvrderz
<br />leis aft sums alceardc heist the-MloT Jvt idcd by the numbrt of M6riths
<br />to elarm tvfm groin q Il L month prior to the date when suck fgrctiirid
<br />rents,;eemi3:ns, tares and as�sm, ents will became deltquent, StKh
<br />sums 00 t.+e held by lender in. teems, jt pay said ground rents,
<br />Mm Ms, taxes and special assc svr;nts; and
<br />IN All payments mentioned in the preceding suhsection tit this
<br />Paragraph and all payments to he made under the note secured
<br />hereby shall be added together, and the aggregate amount thereof
<br />shall be paid by the Borrower each month in a single payment to be
<br />Applied by the ln:nder to the following items in the order set forth:
<br />(1) ground rents, tattoo, assessments, fire and other hauard incur-
<br />ance premiums;
<br />(11) rntcrest on the note sexured hereby,
<br />(1111 aeTitirtiration of the principal of said note, and
<br />(IV) late charges
<br />Any deficiency in the amount, of such aggregate monthly paymcnt
<br />shall, unless made stood by the Burrower nr, r t.. th.. due else::::, t:ic
<br />next such payment constitute an event of default under this
<br />mortgage The Lender may collect a "late charge" not to eitcced four
<br />tents W) for each dollar 1511 tit each payment more than fifteen
<br />(151 days in arrears to.o%cr the crtra expense involved in hacidhng
<br />delinquent payments
<br />3. That if the total of the payments made by the Borrower under
<br />(a) of paragraph : preceding shall exceed the amount of payments
<br />aelual.CY made by the Lender tier ground rents, taxes and asw' *,,`tents
<br />or assurance premiums, as the "se may be. wch excess, if the Gaan is
<br />current. at the optlon „of the Borrower, shall be credited by the;
<br />Lender on subs otmt payments to he made by the &rrrower, or
<br />refunded to the Borrower. If, however, the monthly payments made,
<br />by the Borrowcr under ( a) of paragraph 2 preceding shall not he
<br />sufficient to pay 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 shall pay to the Lender any amount
<br />necessary to make up the deficiency. on or before the date when
<br />payment of such ground rents, taxes, assessments, or insurance
<br />premiums shall he due. It at any time the Borrower shall tender to
<br />the lender, in accordance with the provimons of the note secured
<br />hereby, full payment of the entire indebtedness represented thereby,
<br />the Lender shall, in computing the amount of wch indebtedness,
<br />credit to the account of the Borrower any balance remaining in the
<br />funds aex:umulated under thti prof mom of (a) of paragraph 2 hereof
<br />If there shall br a default under any of the prvnrsions of this
<br />instrument resulting in a public sale of the premises covered herehv,
<br />or if the I ender acquire; the pnipenv otherwise 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 />paragraph 2 preceding, as a credit against the amount of principal
<br />then remaining unpaid under said note
<br />4. That the burrower will pay ground tents, taxes, assessments,
<br />water rates. and other governmental or municipal charges, fines, or
<br />impositions, fi1r which provision has not been made hereittbefure,
<br />aad in default: thereof the Leader. n,ay pay the same; and that the
<br />lkim'Wt with PN raptly detivet trot official receipts therefor to the
<br />Lender.
<br />5. The f+cietnt er will pay, ail aaxts Khia may be lexied'ttpon the
<br />L'mk'a\ iZtecest in said teal estmae anti immprovemenss; and which "
<br />Mal- be revie d ups wilds instrument of the debt secured hereby (but
<br />only to the exrcpaf Qhat such is not prohibic%cd h} 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 of the Borrower is prohibited by any
<br />law now or hereafter existing from paying the whole or any portion
<br />of the abreuud taxes, or upon the rendering of any court decree
<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 />Borrower shall be credited on the debt, the Lender shall have the
<br />right to give ninety days' written notice to the owner of the prem>scs,
<br />requiring the paymcnt of the debt If such notice he given, the said
<br />debt shall become due. payable and collectible at the expiration of
<br />said ninety dass
<br />h 1 hat should the Burrower fall to pay any sum or keep any
<br />cO%cnant provided for in this instrument, then the Lender, at its
<br />Option, may pay or perform the same, and all:ertpendtturec %n mgde
<br />shall he added 1+) the principal sum owing en, the said note, shall
<br />he secured herebv, and shall beat interest at the rate set forth in the
<br />:aid note, until' f,aid
<br />7 That the &irrcwer hereby assigns, traasfecs and sets vier to the
<br />Lender, to he applied toward the payment cuf the note and all sums
<br />secured hereby en case of a deKault in the performance of any of the;
<br />terms and condittoos of this instrument or the said note, all the rents.
<br />revenues and inaxaate to be derived from the said premises during
<br />such time as the indebtedness shall remain udp* aid. and the Lender
<br />Shall have power to appoint any agent or agents it may desire for the
<br />pcTPQse of repairing said premises and of renting the same and
<br />Ca.Sexung the rents, revenues and income, and it may pay out of said
<br />'Ocnmes all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom; the balance remaining, if
<br />any. to be applied toward the discharge of said indebtedness.
<br />S. 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 against foss by fire and other hazards,
<br />casualties and contingencies in such amounts and for such periods as
<br />may he requtrcd by the Lender and will pay promptly, when due,
<br />any premiums on such insurance, provision for payment of which
<br />has not been made hereinbefore All insurance shall he carried in
<br />companies spprovCd be the bender and the policies and renewals
<br />thereof shall be held by the Lender and have attached thereto loss
<br />Payable clauses in favor of and in form acceptable to the Lender In
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