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<br />Borrower and Lender covenant and agree as follow%:
<br />1. That Hnrrowcr will pay the Indebtedness, as herentbefore
<br />prosided. Privilege Is reserved to pas 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 securtxl
<br />hereby, the Borrower will pay to the Lender, on the first day of each
<br />month until the said note is fully 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 covering the Property, plus taxes and
<br />assessments next due on the property (all as estimated Av the. /_r ride•(}
<br />IM all sums already paid therefor divided by the number of months
<br />to elapse before one (I ) month prior to the date when such ground
<br />rent%, premiums, taxes and assessments will become deliquent, such
<br />sums to be held by Lender to trust to pay said ground rents,
<br />Premiums, taxes and special asse:senents; and
<br />(b) All payments mentioned ir? the Preceding subsection of this
<br />Paragonh *rid all payments t., fry uladc 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 he
<br />applied by the Lender to the following items in the order set forth:
<br />(1) ground rents, taxes, assessments, fire and other hazard insur-
<br />ance premiums;
<br />(11) interest on the note secured hereby...
<br />(111) amortuAtr4,10 t f the 176ncrRl of said' rs,;e. and
<br />f.114 t late charges.
<br />Any deficiency in the amount of such aggregate monthly payment
<br />shall, unless made good by the Borrower prior to the due date of the
<br />next such payment, constitute an event of default under this
<br />moripage. The tender ma txtllC:;t a -,,air charge" not to exceed four
<br />cents (4C) for each dollar (S I) of each payment more than fifteen
<br />(15 ) days in arrears to cover the extra expense ensuived in handling
<br />delinquent payments.
<br />3. 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 />actuativ made by the Lender for ground rents, taxes and assessments
<br />or inswance premiums, as the case [nay be, such excess. If the loan Is
<br />current, at the opman of the Borrower, shall tic cmdi & by the
<br />Lendevc 6 subsequent payments to be made try the Burro..' %er. of
<br />refamkd to the Borrower. If, hov+e%er, the monthly pavmi:rtcs made
<br />by the Borrower under (a) of paragraph 2 preceding shall not be
<br />sufficient to pay ground rents, taxes and asce5xtreats or insurance
<br />Premiums, as the case may be, when the same sCt,tll become due and.
<br />payable, then the Borrower shall gray to the Lender any amount
<br />necessary to make up the deficiency: on or before the date v:(~arxt
<br />payment of such ground rents, taxes, assessments, or Insurancr
<br />Premiums 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 indebtedness rep esented thereby.
<br />the Lender shall, in computing the amount of ","-b indebtedness-
<br />credit to the account of the Borrower any balarce. remamrng jr. the
<br />funds accumulated under the pro,;mpns of tai• of paragraph 2 hereof
<br />if there shall be a default under anv of the pro L. Bons of this
<br />instrument resulting in a public sale of the prey -. covered hereby.
<br />or d the 1 ender acquires the prey 9 e a rwise.O,e;t 198 7 c
<br />ender shall apply, at the brit,: of the commencement of such
<br />Proceedings' err at the time the property is otherwise aeyuired, the
<br />balacnr then ro�tnaimng in the funds is
<br />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 Hnrrowcr will Pay ground rents, taxes, assessments,
<br />water rates, and other governmental or municipal charges, tines, or
<br />Impositions, for which provision has not been made hereinbefore,
<br />and in default thereof the Lender may pay the same; and that the
<br />Borrower will promptly deliver the e4fie,7i;t1 receipts therefor to the
<br />!..ender.
<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 this instrument or the debt secured hereby (but
<br />wifi. to the extent that such is. not prohibited by law and, "nly to the
<br />extent that such will not malt(, this loan usurious), but eAtiiading any
<br />income tax. State or Federal, imposed an !.ruder, and will file the
<br />official receipt showing such pavrpent'witlt Ike Lerczer. O'rrsn
<br />violation of this undertaking, or. if, the &R,"A r.is PcnCtNted by any
<br />law now or hereafter existing from paying the white m any portion
<br />of the aforesaid taxes, or upon the rendering of any vc�dn 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 dineiy days' written notice to the owner of the premises,
<br />requiring the pa3Raent of the debt. If such notice be given, the said
<br />deW shall beertrte dde, payable and collectible at the expiration of
<br />said ninety da%N
<br />6 That should the &grower fall to pay any sum or keep any
<br />rowenant Provided for In this instrument, then the Lender, at its
<br />rptron, may pay or perform the same, and all expenditures so made
<br />shall be added to the principal sum owing on the said note. shall
<br />be !:erurcd hcrcb•v. and shaii bear interest at the rate set forth in the
<br />said note, until paid.
<br />7 That the Borrower hereby assigns, transfers and sets over to the
<br />EA74cr, to he applied toward the payment of the note and all sums
<br />secured hereby (n case of a default in the Performance of any of the
<br />terms and conditions of this instrument or the said note, all the rents,
<br />revenues and income to be derived from the said premises during
<br />scsh time as the inddbtedness shall remain unpaid, and the Lender
<br />shall have Power to appoint any agent or agents it may desire for the
<br />purpose of repairing said premises and of renting the same and
<br />collecting the rents, revenues and income, and it may pay out of said
<br />incomes all expenses of repairing said premises and necessary
<br />CoMmrsseons and expenses incurred in renting and managing the
<br />semi(_ -and of collecting rentals therefrom; the balance remaining, if
<br />a,'- Co be 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 />ti.mle to time by the Lender agarr:st loss by fire and other hazards,
<br />rasuaiaies and contingencies ir. such amounts and for suclr periods as
<br />eras 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 been made hereinbefore. All insurance shall be carried in
<br />companies approved b , the L"- Jer and the policies and renewals
<br />thereof shall be held by the I t!r,fer and have attached thereto loss
<br />Payable clauses In favor of and in form acceptable to the Lend
<br />hr In
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