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103295 (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the property, plus taxes and assessments next clue on the property (nil as estimated hr the lw•nder) less all sums already paid therefor divided by the number of months to elapse before one (1) ; month prior to the date when such ground rents, premiums, taxes and assessments will became delinquent, such sums to be held by Lender in trust to pay said ground rents, premiums, taxes and special assessments; and (b) All payments mentioned in the preceding subsection of this paragraph and all payments to be made under the note 1 secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Borrower each month in a j single payment to he applied by the Lender to the following items in the order set forth: i ' (1) ground rents, taxes. assessments. fire and other hazard insurance premiums; i (U) interest on the note secured hereby; and (Ill) amortization of the principal of said note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Borrower prior to the due date of the next such payment. constitute an event of default under this mortgage. The Lender'may collect a "law charge" not to exceed four cents (4C) for each dollar ($I) of each payment more than fifteen (15) days in arrears to sewer the extra expense involved in handling delinquent payments. 3. That if the total of the payments made by the.Barrower under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the Lender for ground ream taxes and assessments or insurance premiums, as the cage may.. 1 be, such excess, if the loan is current. at the option of the Borrower, skiall be credited by the Lender on subsequent payment,R to be made by the Borrower, or refunded to the Borrower, If, however, the monthly payments made by the Borrower under (a) of paragraph 2 preceding shall not be sufficient to pay ground rents, taxes and assessments or insurance premiums, as the case may be, when the same shall become due and payable, then the Borrower. shall pay to the Lender any amount necessary to make up the deficiency, on or before the date when payment of such ground rents, taxes, assessments, or insurance premiums shall be due. If at any time the Borrower shall tender to the Lender. in accordance with the provisions of the note secured hereby, full payment of the eadw indebtedness represented thereby, the Lender shall, in computing the attiount of such in- debtedness. credit to the account of the Borrower any balance remaining in the funds accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisions of this instrument resulting in a public sale of the premises covered hereby, or if the Lender acquires the property otherwise after default, the Lender shall apply, at the time of the commencement of such proceedings. or at the time the property is otherwise acquired, the balance then re- maining in the funds accumulaW under (a) of paragraph 2 preceding, as a credit against the amount of principal then remain- ing unpaid under said note.' 1 4. That the Borrower wi11 pay ground rents. taxes, assessments, water rates, and other governmental or municipal charges. – fines, or impositions, for which provision has not been made hereinbefore, and in default thereof the Lender may pay the same; and that the Borrower will promptly deliver the official receipts therefor to the Lender. , S. The Borrower will pay all taxes which may be levii d upon the Lender's interest in said real estate and improvements, ! and which may be levied upon this instrument or the def3c secured hereby (but only to the extent that such, is trot prohibited j by raw, and only to the extent that such will not make this loan usurious), but excluding any income tax,'Seate or Federal, s imposed on Lender, and will file the official receipt showing such payment with the (.,ender. Upon violation of this undertak- ing, or if the Borrower is prohibited by any law now or hereafter existing from paying the whole or any portion of the aforesaid taxes, or upon the rendering of any court decree prohibiting the payment by the Borrower of any such taxes, or is such. Caw i or decree provides that any amount so paid -by the Borrower shall be credited on the debt, the Lender shall have the right 1� to give ninety days' written notice to the owner of the premises, requiring the payment of the debt. If such. notice be given, the`said debt shall become due, payable and collectible at the expriation of said ninety days. 6. That should the Borrower fail to pay any sum or keep any covenant provided for in this instrument. then the Lender. I at its option, may pay or perform the same, and all expenditures so made shall be added to the principal. sum owing on the ' abtrve note, shall be secured hereby, and shall bear irtrerest at the- rate set forth in the said note, untii.paid. 7. That the Borrower hereby assigns. transfers and sets over tax the Lender, to be applied: toward the payment of the note and all sums secured hereby in case of a•default in the performance of any of the terms and: conditions of this instrument or die said wke, all the rents, revenues and income to be derived from the said premises during Suclt time as the indebtedness shall remain unpaid. and the Lender shall have power to ,appoint any agent or agents it may desire for the purpose of repairing said premises and of renting the same and collecting ((resents, revenues and income, and it may pay out of said incomes all expenses of.re- pairing said premises and necessary commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance remaining, if any, to be applied toward the discharge of said indebtedness. 8. That the Borrower will keep the improvements now existing or hereafter erected on the property, insured as may be required from time to time by the Lender against loss by fire and other hazards, casualties and contingencies in such amounts and for such periods as may be required by the Lender and will pay promptly, when -due, any premiums on such insurance provision for payment of which has not been made hereinbefore. All insurance shall'be carried in companies ap- proved by the lender and the policies and renewals thereof shall he held by the Lender and havratiached tHereto loss payable clauses in favor of and in form acceptable to the Lender. In event of loss Borrower will give immc4ial notice by mail to the Lendcr,who may make proof of loss if not made promptly by Borrower. and each insurance company concerned is hereby Lauthorized and directed ro make payment ter sucn toss directly to the Lender msread of to the Borrower and the Lender LE I jointly, and the insurance proceed,. or any part thereof, may be applied by the Lender at it% option either to the reduction of the tndebtednos hereby weaned or to the re.toralion or repair of the property damaged. In event of foredw,ure of this trtstrtsrrtent rr other tren%fer of title ti, the mongat,ed pro fvriy in ctunguishmeni of the indebtedness secured hcrcbr . all light. fir, � title arid•! inter. >t of the porro%;cr to and t:: any tnwr:utcc polt,rc, then rn f«rcc %1:.ill pa— to the is,jr.:has, r or grintcC - +f Thal a% addiltlmet .Ind enllatetal ` cunq t11t 111Y payiiwnt (it t1w aide 1ir'crIbcd. and all �uu1s to lick 41111e tlu: under tits. •mir,,m vnt. ncc Ilorrot%cr hoch� a —SP11% r1+ th; Lesley ell pr1,f!t%. rrt.c•nut •. r•1�,,tlu ., 1111ht% aild bowiU•..,,, tilitll• b• 1t: It,1rr< „ +er Undo an4 .irtd all 1111 ar1:11.r, lc.r.cs un s.rul prcnutie.. -Allh the :, hr 1,1 tc.<•n� .191.1 It,cg1t':u tit -'. �.rnc .,,: 1 140D-99143 -t)s ::c J