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harrower ned !Miler covenant me agree as f+ ftws: or if the Lender acquires the property otherwise after default. the
<br />Lender sha iippply. at the time of the commencement of such
<br />11. That Borrower will pay the indebtedness, as hereinbefure proceediaj�k ikid the time the property is otherwise acquired, the Wof
<br />is installment d dateerved to pay the debt in whok_t+ f t :dart tart` Pantgta IY'�r `credit again%�t�1L of principal
<br />then remaiirirsaid under said note.
<br />T2p together with. anif iUldition to. the Mont[ity, yrtiwatts
<br />q { iich d and iatertnE pareeti -wader tie terms of the `ticl;y icured 4_ That the Borrower will pay ground rents, taxes, assmsments.
<br />hit ft. the lforroti ier writ! pay to tk Lender. on the first day of each water rates. and other governmental or municipal charges. fines, or
<br />month titan3 tie laid note is (ally paid the following sums: impositions, for which provision has not been made hereinbefore,
<br />and in default thereof the Lender may pay the same; and that the
<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 iwiurana covering the property. plus taxes and
<br />air amens next due on the progeny (alias esdi weed by the I elder)
<br />lever all sum already paid therefor divided by the number of nHmths
<br />to elapse before one (1) rnonth prior it) the date when such ground
<br />rents, premiums. taxes and assessments will become deliquent, such
<br />sums to be held by !.ender in trust to pay said ground renm
<br />premiums, taxes and special assessments; and.
<br />(b) All payments mentioned in the preceding subsection of this
<br />paragrsphand all payment.-. to be made 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 be
<br />applied by the Lender to the following items in the order set forth:
<br />(L) Smand it8i x taxes. assessmenim fire and 6therhwW -4 insure
<br />aex pretrrigam
<br />f ii5. t�teres '6 the mote vixurW hereby;
<br />1,114) aroottizaritvt of the principal of said note, and
<br />iW) late charges.
<br />Any deficiency in the amount of such aggregate monthly payment
<br />shall, unless made good by the Borrower pr%i )r to the due date of the
<br />next such paymrart constitute an event of ddtii t. under this
<br />mortgage. The !.ender may collect a "late charge' not t, exceed fewr
<br />exerts (49) for each dollar (S 1) of each payment more `tam ffteen
<br />05). -.Says in arrears to cover the extra expense involved U-n t4ndling
<br />dt(.irmyxrit payments.
<br />l7iitt ttl roller natal of the payments made by the &,rrower under
<br />Qt+i; of paragraph 2 preceding shall exceed the amount of payments
<br />ra,7ually made by the lender tot ground rents. taxes and assessments
<br />or insurance premiums. as the case may arc. such excess, if the loan is
<br />current, at the option of the Borrower, shall be credited by the
<br />Lender on subsequent payments to be made by the Borrower. or
<br />ieunded to the Borrower. If, however, the monthly payments mad-;
<br />tryobe Borrower under (a) of paragraph 2 preceding sU,! tow be
<br />wffixient to pay ground rents, taxes and assessments 0T&V,'M:ar4e
<br />i*tmiums, as the case may be, when the sarne shall hGYMe,' dUe AIV3
<br />payable, then the Borrower shall pay to ebe Lender ari }air
<br />tretxsaary to make up tMs deficiency. on or txfore the &Wsr VAt-T:
<br />Vwyment of such ground rents, taxes, assessments, or it °,w'.zMw
<br />Vmmiums shall be due. If at any time the Borrower shali tender t•;,
<br />the Lerider, in accordance with the provisions of the note secured
<br />hereby, full payment of the entire indebtedness represented thereby.
<br />the Lender shall, in computing the amount of such indebtedness.
<br />credit to the account of the Borrower any balance remaining in the
<br />funds accumulated under the provisions of (a► of paragraph 2 herei if.
<br />if there shall he a default under any of the provisions of this
<br />instrument resulting in a public We of the premises covered hereby.
<br />—m_,
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<br />Borrower will promptly deliver the official receipts therefor to the
<br />Lender.
<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 he 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 Lender, and wi l file the
<br />official receipt showing such payment with the Lender. (Upon
<br />violation of this undertaking, or it the Borrower is prohibited by any
<br />law now or hereafter existing from 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 tans. or if
<br />such law or decree provides that any amount so paid: by:the
<br />Borrower shall be crediW inn the debt, the Lender strstl..have the
<br />right to give ninety days written notice hie the owner of the premises,
<br />requiring the payment of the debt. if sWaxr:,^'tice be given, the said
<br />debt shall become due. payable and ci:. c4:.Ne at tke.expiration of
<br />said ninety days.
<br />6 That should the Borrower fail tz, pay any sum or keep any
<br />covenant pmrtided for in this rostrum ,« ,: then the Lender, at its
<br />option, may pay or perform the same. amt all expenditures so made
<br />shall be added to the prinapal sum owing on the said note, shall
<br />fm secured hereby, and snail bear interest at the ram !fir; forth in the
<br />said note. until paid.
<br />7. That the Borrower hereby assigns, utetrisleas rind sets over to the
<br />Lender. to he applied toward the pa)mcr.; VJ Ck mate and all sums
<br />secured hereby in case of a default in the of any of the
<br />terms and conditions of this instrument. rw 09 said'mote. all the rents.
<br />revenues and income to be derived freers [;be sW premises during
<br />such time as the indebtedness shall rc=n r utt•;tid, and the Lender
<br />shall have power to appoint any agent of t pits d may desire for the
<br />purpose of repairing said premises and of tenting sine'same and
<br />collecting the rents, «oenu^ and ineom. and it Maly pay out of said
<br />moPines all expenses of repairing said .,,mews ant necessary
<br />commissions and expenses incurred i::n r>3rnng and' managing the
<br />same and of collecting rentals therefroin; the baWs" remaining, if
<br />any. to be applied toward the discharge of said ens duedness.
<br />8. That the Borrower will keep the haivr nivements now existing or
<br />hereafter erected on the property, ir:snad ,ss may be required from
<br />time to time by the tender against la, 1 ,1y fire and other hazards.
<br />casualties and contingendes in such amounts and for such periods as
<br />may be required by the tender and will pay promptly, when due.
<br />any premiums on such insurance, provision for payment of which
<br />has not been made hereinbefore. All inpurance 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 loss
<br />payable clauses in favcir of and in form acceptable to the Lender In
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