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<br />Rerrowey tattttl Ll,ettiter eoveatstt aatl �:a tobwx
<br />1. That Borrawcr will pty the indebtedness, as hereinbefore
<br />provided. Privilege is reserved to pay the debt'in whole or in part on
<br />any installment date date.
<br />2. That, together with. and in addition to, the monthly payments
<br />of principal and interest paysble wider tie terms of the mote secured
<br />hereby, tare Borto+att will pay to The Leader, to the first day of arch
<br />month until the said mote is tally paid, the following sums-
<br />(a) A sum equal to the ground rents, if any. next due, plus the
<br />prtmiums that will next become due and payable on policies of fire
<br />and other harard insurance covering the property. plus taxes and
<br />attessmnnta next due on the property Was rstirrrated by the l eaQeq
<br />lien all sirens already paid therefor divided by the number of ttronibs
<br />to elspac before one (1111108th prior to the date when such mewed
<br />rents. premiums, taxes and assessments will become deliquem. such
<br />vents to bis 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 sub%ection of this
<br />pnr&Vaph and all payments to be made under the note ,ec;urcd
<br />hereby shall be added togtether, and the aggregate amount thereof
<br />shall be paid by the Borrower each month in a single payment to tv
<br />applied by the Lender to the folk ►wing items in the order set forth_
<br />(1) ground rents, taxes, assessments, fire &4 other harard msur-
<br />itnix premiums.
<br />1 Ll) interest on the note seraoul hereby;
<br />(111) amortization of the principal of said ra -te. and
<br />(IV) late charge~
<br />.any defrnencv in the a ., sit; of such aggregate monthly payment
<br />shall, unless made givsd by the Burrower prior to the due date of the
<br />next such pamemt-- ox5mtitute an tnent of default under this
<br />ncortgage. The L(W60 may collect a "late charge" not to exceed four
<br />cents (4C) for each dollar (SI I of each payment more Char. Ffreen
<br />(1St days in arrears to cover the extra expense invtalvcd ,i, tfisrdhng
<br />delinquent payments
<br />3. That if the total of the payments =!L- s) the Borrower under
<br />(a) of paragraph t , receding shalf exceed tee amount ref payment%
<br />actually made by the Lender 1if,•r ground rents, taxes and assessments
<br />or insurance premiums, as tier: �v.w may be, such excess, if the Irian is
<br />current, at the option of ft Borrower. shall he credited by the
<br />L.enderrm subsequent payments to be matte by the Borrower, of
<br />refunded to the Borrower. If, however, the monthly paymrnts made
<br />by the Borrower under (a)ofr paragraph 2 preceding than not N.
<br />sufficient to pay ground ten: ° ;, axes and assessments or wsuiance
<br />Premiums. as the case may be, when the same shall become due and
<br />payable, then the Rmlower shall pay to the Lender any amount
<br />necessary to ma L— up the deficiency, on or before the date when
<br />Payment of sulfa ground rents. taxes, a%w%sments, or insurance
<br />Premium,; shall be due If at aril time the Burrower shall tender to
<br />the Lender. to actordance with the provision, rf the note -rd Tared
<br />hereby, full payment of the entire indebtedness represented therchy,
<br />the Lender shall„ in computing the amount of such indebtedness.
<br />credit to the account of the Borrower any balanu remaining in the
<br />funds accumulated under the Provisions of (a) of paragraph 2 hereof
<br />If there shall he a default under an% of the prot coons of this
<br />instrument resulting in a public sale of the premises covered hereht:..
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<br />103265
<br />ar if the Lender acquires the property otherwise after default, the
<br />Lender shalt apply. at the time of the commencement of such
<br />prcrceedirrgs, or at the time the property is otherwise acquired. the
<br />balance tka retraining 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 Borrower will pay ground rents, texts, assessments,
<br />water taus, and other goveramental or rouniicipal charges, titres, or
<br />impositions, for which provision has not been made kreinbefote,
<br />aced in default thereof the Leader may pay the same; and that the
<br />Borrower wits promptly deliver the official receipts therefor to the
<br />Lender
<br />S. The Borrower will pay all taxes which may be tetjio upon the
<br />Lenders interest in said real "estate and improvements, rU d,wlTkh
<br />mar be Teviedupon this instrument or the debt seeure(b 4i y (but ;
<br />only to the r Ri�n that such is not prohibited by law utd oei'to the:,
<br />extent that r.will not make this ban usurious), but;. -444i rag any '
<br />income taix, State or pederi L imposed on tender. and• :ink the
<br />official receipt showing sitci? payment with the Lender. :.ti ion
<br />0.olation of this undertabag, or if the Borrower is ptolYi3iited by any
<br />law now u ij fte f cxisting from paying the whole or any portion
<br />of the aforesu4 the rendering of any court decree
<br />prohibiting ire EayrmWa:l;y the Borrower of any such wes. or if
<br />1410 law or decree p �ti'. slut any amount so ptid.L+?,3e
<br />lkr,•r:.►wer shall be CredJ i s the debt, tbo lender she?: 4ve the
<br />right to gave iftomy days: M ntien notice to the owner of the premises,
<br />requiring ttC.rpirinterit oftbe debt. If such notice be given, the said . .
<br />debt shall be& me due.. rauable and collectible at the expiration of
<br />Sid ninety days.
<br />b That should the Bone -wet fail to pad° L—sy ,Lnm:3r keep any
<br />covenant provided for in this instrument: -!ken the Lender, at its
<br />option, may pay or perform the same. and all expenditures so made
<br />shall be added to the prnapal sum owing on the said note, shall
<br />fsc ftvured hereby, and sfr1 >l:Lstar interest at the rate set forth in the
<br />-std note. until paid.
<br />7 Thal rain• :Wmrower hereby assigns, transfers and sets over to the
<br />Under. its Er.`:, flicd toward the payment of the note and all sums
<br />secured hereby in case e4:t %'JWtult in the performance of any of the
<br />s
<br />gum and condmon% of ilk instrument or the said note. all the rents.
<br />'revenues and income w be derived from the said premises during
<br />such time as the indebtedness shall remain unpaid, and the Lender
<br />shall havr power to appoint any agent c.r.. merits it may desire for the
<br />r.-O pose of repairing said On,?mise% and of renting the same and
<br />ca {kchng the rents, rereri=s .end income, and it may pay out of said
<br />►runic+ all opens% of r.g icing said premises and necessary
<br />commisuOes 1'41 eximmi:4 incurred in renting and managing the
<br />same and of ., t.o04cting rtntafs therefrom; the balance remaining, if
<br />any to frs a(- liliml towait!•tfin discharge (if said indebtedness.
<br />8 That :he I ;:ep the improvements now existing or
<br />id:reafter ete-A tcd on din property, insured as may be required from
<br />i:aine to titre 151), the Lender against loss by fire and other hazards,
<br />casualties and contingencies to such amounts and for such periods as
<br />iray be required by the Ixotler and will pay promptly, when due.
<br />any premiums on such insurance, provision for payment of wlich
<br />has not been made herembefore. All insurance shall he earned in
<br />companies appraeed by the Lender and the policies and renewals
<br />There( f shall be held by the fi.ender and have attached thereto loss
<br />payable causes in fa%or of and in form acceptable to the lender In
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