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<br />so rowel aid tether carettstM Me agree as faiowsr
<br />1. That &WrOwef Witt pay the indebtednewi, as hereinbefore
<br />Lxu-itled. Privilege is reserved to pay the debt in whale or in part on
<br />any installment due date.
<br />171111111- together with. and in addition to, the monthly payments
<br />Of I itatapaI aNd ttlarest payable - It I the terms of the note secured
<br />hmby, the 111mm Ier will pay to the under, on the first day of each
<br />010111111 sntd the Said nM is fully ptW. the following sums.
<br />(4 A sure equal to the ground rents, if any. next due, plus the
<br />Premiums that will next became 'due and payable on policies of fire
<br />and outer hazard insurance covering the property, pleas taxes and
<br />a ilessi lent5 next due on the property (trf/ as estirsathi by be i ender)
<br />lea AV sett m already paid therefor divided by the number of months
<br />Iv.til>ypee before Oft (1) month prior to the date when such ground
<br />f0ki.10 i> ft. _Wes and assesaments will bewmie detiquent, such
<br />stuns 1144 N lNew k* Lertdcr in trust to pay said ground rents,
<br />great71 rte, taR '.�ritii special assessments. and
<br />payments mentioned to the preceding subsection 0't this
<br />p>wreddtsapb and all payments to be made under the note secured
<br />itei6y 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 item's in the order set forth-
<br />'
<br />.11) around rents, (Axes, ai,45wents, fire and other hazard insur-
<br />*a" prermunps.
<br />1111 intertsi r ;irate note secured hereby;
<br />@IZt amartl�5tittx11 tai the pttnupu�rt; '3 rr,�2C. and
<br />..091 olate charges.
<br />Any deficcene)r iV. the amount 4 i such monthly payment
<br />shall, unless m16e good by the ikirrouer prior-to the due date of the
<br />rieir.ftteh payttteat. Constitute an event of default under 6
<br />mex%pge. The Lender mA) co,,!kv a -late charge" not irr c.L to four
<br />cents (49) for each dollar IS14r,f each payment more afar, fifteen
<br />115) days In acty0d;;Il!) cover the extra expense mvo►lved In handling
<br />delinquent paymtir {t,.
<br />1• That if the total of the payments made by the Borrower under
<br />(411'' a'paragraph 2 preceding shall exceed the amount of payment%
<br />"301111y made by the lender fist ground tents, taxes and assessments
<br />Of ntsurance premiums, a% the base may be. such excess. If the loan I%
<br />current, at the cOKA of the Bt►rro%er, shall tic credited by the
<br />Ur4er on subsequent payment.,, to he mute by the Borrower, or
<br />nttt`; okd to the Btxrower. if, 'inwc%cr. The monthly payment-, made
<br />t r , ft Borrower under (a) of p� tagraph 2 preceding shall not be
<br />stailicient to peN V ouod rents, taxes and asse:._ncnts or Insurance
<br />premiums, as this case may lee, when the saint ,, ulf become due and
<br />pttpaMe, then the Borrower shall pay to the (.!rider any amount
<br />McCeSsary to snake up the deficiency, on or before the Catrr'w4ten
<br />r* t:xnt of such ground rent%, taxes, aises%mCrtis. Of tr. <irdt> ce
<br />Premiums shall he due If at any time the 131xr.;,wer shalt! tender to
<br />the Lender, in accordance with the pre►slsrc,n,.1,1, the n,; secured
<br />hereby, full payment of the entire indebtedness, represerimd thereby,
<br />titre [r_nder shall, In computing, the amount of such,ndeh!cdncss,
<br />Cis dir to the account of the &% jower any halance rem:rinritg in the
<br />fuldd -1 accumulated under the pAM1,14ins of is) i tl paragraph 2 hereof
<br />If there shall he a, default under any of the provlsfons of this
<br />instrument rewltina in a puMK sale of the premise co, creel hereby.
<br />or if the Lender acqufms the property otherwise after default, the
<br />Lender shall apply it the time of the commencement of such
<br />proceedings, or at the time the property is otherwise wquited, the
<br />bttance there "remaining in the funds amumulated under (a) of
<br />paragraph 2 preredirlg, as a credit against the amount of principal
<br />then remaining unpaid under said note.
<br />4. That the Borrower will pay ground rents, taxe% assessments.
<br />water wets, and.other goverttuteaul or Municipal crkMM trap, of
<br />impostrinne.. AT 1wW Prowisiota has not been made hereinbefem
<br />and in default thereof the Lender may pay the same and that the
<br />Borrower will promptly deliver the offtcaal raxipts therefor to the
<br />Lender.
<br />5" The Borrower will pay all taxes whk* may be levied upon the
<br />Lender's interest in said real estate and cinches, )and which
<br />stay be levied upon this instrument or the debt secrrd hereby (but
<br />►mly to the extent that such is not prohibited by taw rcaty to cite
<br />Ayctent that such will not make this loan Usurious). but et4duding any
<br />income tax. State or Federal, imposed oa Winder. and wn'll file the
<br />oir"I rei,-ttip't511owies such payment with the tender. Upon
<br />violation. of this` undertaking. or if the Borrower is prohibited by any
<br />law flew of hereafter existing from paying the whole or any portion
<br />of 11110' stcireisid 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 ort9eeree provides that any aw%wt so paid by the
<br />Borrower ship be credited on the debt, the lender shall have the
<br />right tc, give ninety days' written notice to the owner of the premises,
<br />requiring the payment of the debt. If such notice be given, the said
<br />ddA- shall become due, payable and collembte at the expiration of
<br />said ninety days.
<br />6 That should the Borro%cr fail to pi)e any sum or keep any
<br />covenant provided for in this instrument, then the Lender, at its.
<br />optat►n, may pay nr perform the same, and all expenditures so made
<br />shall be added to the principal sum owing on the said epee. shall
<br />he secured hereby, and 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 />l ender, to be applied toward the payment of the note and all sums
<br />secured hereby In Case of a default in the fitv1►rmanee of any of the
<br />term~ and condimms oof this instrument lfw said note, all the rents.
<br />avenues and Income to be derived from 1hr. .d premises during
<br />such time as the indeMednesz skafl re.mam unpaid. and the Lender
<br />shall have power to appmnt any agent or agents it may desire for the
<br />pufP0%c of repairing said premises and cf, ovaing the same and
<br />collecting the rrata., revenues and inca m„ ogee, it may pay out of.
<br />811wl►tes all eRfa:n-.40 of repatring said;rrilltxs and necessary
<br />commtsscon%arid expenses rr,.curred in reciting and managing the
<br />%same and of collecting terr.t At therefrom: the balance rratrairting. if
<br />Wny, a, bt: applied toward the discharge of said indebtedness.
<br />A That the Borrower will keep the tnifr►Svements now existing or
<br />hereafter erected on the property, Insured mi may be required from
<br />time to time by the Linder ayiaivist loss by fire and other liamrds,
<br />casualties and umt,ngencit% in'�,yCh amounts and for such periods as
<br />may Ix required by the Lender and will Pa promptly. when due.
<br />any premiums o ►! such insurance, prosiskimfor paytneat of which
<br />has not baer , tttadde heretnhefore. All tomwaacg shall be carried In
<br />companics, approved by the f xndet and :he policies and renewals
<br />tlterrof shall be held by thr LettGer and have attached thereto toss
<br />payuble clauses In favcrr ut xndA form acceptable to the Lender. In
<br />Page 2 of 5
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