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<br />brrawer and Le fiftf e:aveaaM and agree as follows:
<br />1. That Borrower will pay the indebtedness, as hcreinbefiire
<br />provided. PrivikV is reservO to pay the debt in whole or in part sus
<br />env installment due date.
<br />2. That, together with, and in addition to, the monthly paymcnty
<br />Of principal and interest payable under the terms Of the "Ole secured
<br />hereby, the Borrower will pay ter the Lender, on the first day of each
<br />month until the said nota 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 became due and payable on politics of fire
<br />and other hazard ittsurailm catering the property. plus taxes and
<br />Suntan m to next due on. the property (gNss e&*R*Wd by 11W Lender)
<br />ka all sums: already Paid-therefor divided by the number of months
<br />to esapte before one f 1) month prior to the date when such ground
<br />rents, premiums; taxes and'ttssessntents will become deliquent, such
<br />sums to be held b4y Lender. in -trust to pay said ground rents,
<br />pramiums; taxes and %PDC Altas$C-&mentc; and
<br />(b) All Paymtmts ntntioned in the preceding subsection of this
<br />Paragraph and,siPpeyments to be mark under the note secured
<br />hereby shiiMbe addi: d. together, sad the aggregate amount thereof
<br />shall be paid b)'1 the Borrower eac�t- month in a single payment to be
<br />applitd.by the lender to the following items in the order set forth:
<br />(1) ground reatU taxes, assessments, fire and other hazard insur-
<br />avoe premiumn,: .
<br />(11.) interest on the note secured hereby;
<br />(1ff•,xntartiution of the pnncipwt of said note; and
<br />(iV) late charges..
<br />Any deficiency i!it the amount of such aggregate monthly payment
<br />shall, unless made g6od by the Borrower prior to the due date of the
<br />next such Payrtteot. constitute an event of default under this
<br />sres~.,;.ic m LC"Wr may wile t a "7atE th roe not to exceed four
<br />ants (49) for each dollar ($I) of each Payment more than fifteen
<br />(15) days in arnars to cover the extra expense involved in handling
<br />delinquent payments.
<br />3. TGiat if the total of the payttte:ats made by the Borrower under
<br />(a) of (i 84caph 2 preceding shall exceed the amount of payments
<br />actually mark by the Mender for ground rents, mates and assessments
<br />or insurance Premium as the case may be. such, stxcess, if chi toan is
<br />current, at the option of the Borrower, shall be credited by Eke. .
<br />Lender on subsequent payments to be made by the Borrower,,,or
<br />refunded to the Borrower. If, however, the monthly payments made.
<br />by the Borrower under (a) of paragraph 2 prexxi`r4 shall not be
<br />sufficient to pay ground rents, taxes and assessrt mrs or insurance
<br />premiums, as the GM may be, when the same shall become due and
<br />Payaw then the 1lbrrower 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 be dyc:. If at any time the Borrower shall tender to
<br />the Lender, in aaor&twe with the provisions of the note secured
<br />hey, full paymerit'of the entire indebtedness represented thereby,
<br />the Condos shall, in computing the amount of such indebte dnims,
<br />cfeditto. t ie•amount of the Borrower any balance remaining iii-the
<br />funds accumulated under the provisions of (a) of paragraph 2 hereof.
<br />if there shall be a default under any of the proviwns of this
<br />irutrurneal residiiiig in a public sale of the prcmisec covered hereby.
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<br />fQ3198- or if the lender acquires the pn ?Para otherwise after default, the
<br />Lender shall apply, at the time (if the cOmmenmment of such
<br />proceedings, or at the time the property is otherwise acquired, the
<br />balanc'c then remaining in the funds acxuntulated under (a) of
<br />paragaph 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, acsmamentc,
<br />water rates, and other gOvemmental or municipal charges, fines, 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 official
<br />Lender. receipts therefor to the
<br />S. 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 />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 t c:rider, 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 />tavr now or hereafter existing frost Paying the whole or any portion
<br />Of the aforesaid 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 />9441 to give ninety days, written notice to the owner of the premises,
<br />cc4driring the payment of the debt. If such notice be given, the said
<br />debt shall become due, payable and collectible at the expiration of
<br />Mid itinety days.
<br />5,. That should the Borrower fail to pay any sum or keep any
<br />cosenant 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 be added to the principal sum owinj on the said note, shall
<br />w :w'rar--3 llc"Y anti shall 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 />Lender, to be applied toward the payment of the note and all sums
<br />secured hereby in, Case of a default in the performance of any of the
<br />terms and cofK�tktffs of this instrument or the said note, all the rents,
<br />revenues and income to be derived from the said premises during
<br />surd ,erne as the indebtednewshanremain unpaid, and the Lender
<br />shall have power to appoint MY' ageat or agents it may desire for the
<br />Purpose of repairing said premisa'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 reparring premises and necessary
<br />commissions and expenses incurred in rcntiag and managing the
<br />same and of collecting rentals diatfrom; the balance remaining, if
<br />any, to be applies6 toward the discharge of said indebtedness.
<br />8. That the Borrower will kelp the improvements now existing or
<br />hereafter erected on the propertg,, insured as may be required from
<br />time to time by the Lender against loss by fire 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'Uch insurance, provision for payment of which
<br />has not been made bereinbefore. All insurance shall be carried in
<br />companies approved by the Lender and the policies and renewals
<br />thereof shall be held.by the Lender and have attached thereto Ions
<br />payable clauses in favor of and in form acceptable to the Lender. In
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