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<br />104589
<br />to the ground rents. if my. next due. plus the p"iUMS that Will next NaMWAAM and pity" on
<br />(a) A sum equal 4K on the, property N11
<br />policies of fife and i3dw hazard insurance covering the property. plus taxes 00 aswurrients next
<br />as esdnwed by the Leaded less all aunts already paid therefor divided by the number ef mondirs 46 elapse before one (1)
<br />premium. taxes 04 assessments will become. (all t, such sums to
<br />month prior to the date when such 9TOW Mu premiums. taxes and special ASSIMUMM am
<br />be W by 1406" in trust to Pay said Stvad rents
<br />(b) All payments f=tkoed in the preceding subsection of this paragraph and all payments to be made under the ride
<br />scoured hereby shall be added wSeher. and the Mnse ammm thereof shall be paid by the Bmmwtf tub moonlit- Ift 6-
<br />single paymm to be applied by the Lender to 'in ft order set forth:
<br />the following items
<br />(1) growid It 1 . taxes. asmsments. fire and other hoard insurance urns;
<br />(11) toWea an the note sticuted bmreby; and
<br />(M) amortization of the principal of SM note.
<br />Any deficiency in the amount of such aggregate monthly payment shelf, unless made goad by the Borrower Prior 10
<br />the due date of the next Such payment, constitute an event of default under this mortgage. IU Lender my collect a "late
<br />charge, M to exceed four cents (4c) for each dollar 0I) of each payment more dw fiften (15) days in arrears to cover
<br />the extra expense involved in handling &[inquent PAYIDems.
<br />hall exceed the =101111t
<br />is ma4c by ft BmMwtf under (A) Of parvilo 2 pri=ding Q
<br />That if the coal of the paymen rws. taxes and assessments of insurance premiums. as the cue nay
<br />of payments actually made by the Lender, fror ground ir on subsequent payments
<br />t. at caption of the Borrower. shall be wAiW bY the Wide
<br />beisuch excess. if the loan is Curren 0131bly paknetits made by the Borrower under
<br />to
<br />tv. be madl: by the Borrower. or refunded the Borrower. If. hdwcvclr,. ft M
<br />W 4L'Varagraph 2 preced ing shall not be sufficient to pay greund rents. taste anit assessments or insurance premiums, as
<br />'
<br />the same shall become due and payable. dMftMMw9f.sWpaytothe Lender any amount nwxssmy
<br />tees raw may be. when 'M. Or insurance Pfcm�jm
<br />to make up the deficiency, on or before the date when payment of such,'pround rents, taxes, asscsSIMe
<br />Sul he due. If at any time the Borrower ".I twiner to the Under, in accordance with the provisions of the AM sccwd
<br />hereby, full payment of the entire indebtedness TqV7V'W thereby. the Under shall. in computing the amount, of such in-
<br />r'any.bulanice remaining in the ft-ids accumulated under the provisions Of
<br />debtodness, credit to the account of the eqrroWgl L ' ' Sal
<br />(a) of paragraph 2 hereof. If there anstof the provisions oaf this instrument resulting in public e
<br />Lender shall apply. at
<br />fall. the Ler
<br />of the premises coverod hereby. or if. 11w.Under acquires the PjV�y . otherwise after de
<br />commencement of such Oro . ccedings, of at the time the PfOPOrtY is Othe'M-d1t w.quired, the balance t1hen to-
<br />ft time of ft comrne lien rernzin-
<br />maining in the funds accumulated under (a) of paragraph 2 preceding. as a credit, &,*rlst the amount of principal d
<br />ing unpaid under said note.
<br />4. Ibm the gmrower will pay ground rents, taxes, asscssmenins, wAa VAWS- and other govemmental or municipal charges,
<br />fines, or impositions. for which provision has not. been made licreinbefoM alai: i,6 default thCF06f the Lender may pay ft
<br />same; &W that the Borrower will promptly dcli%'Pr 11 . 1C Official receipts thercEir 11) the Lender.
<br />S. The Borrower will pay all tares which may he levied upon the Lender's interest in said real estate and improv= ' N.
<br />and which may be levied upon this iliqnsinent or the debt secured hereby (but Wf �.:. rvc (.,xt:nt that such is not prekbod
<br />by taw and only to the extent that such will not make this loan usry . ious), but 4.rj&;dae gany income tax. State or FabnI.
<br />imposed on Under. and will file the official receipt showing such payment.%ithi Oil: Lender. Upon violation of this undertak-
<br />ing, or if the Borrower is prohibited by any law now or hereafter existing from M-7 9 IN Of any
<br />taxes, or upon the rttl&ling of any court decree prohibiting the pV#-.nVM by the Borrower of any such taxes. or is such law
<br />or decree provides that any amount so paid by the Borrower shall , be credited on the debt. the Under shall have t1, T4�:t
<br />to give ninety days written notice to the owner of the premises. requiring the payment of the debt. If such notice be iiien.
<br />the said debt shall become due. payable and collacr*ie at the extiff2tiolt Of !a:-'YJ ninety days.
<br />6. That should the Borrower fail ti-N PUY M sum Of keep any covenant provided for in thins instrunient, then the Itridef,
<br />at its option, may pay or perform the same, arid all expenditures so made shall be added to 4he principal sum OwilIM 00 the
<br />above note. shall be secured hereby, and shall bear interest at the rate set fom.% in the said note, unt-N paid.
<br />7. That the Boffaiier hireby assigns. transfers and % to be applied toward ft psymerkt,)f the
<br />sets over to the Len&r,
<br />note and all wlius securqi,hereby in case of a default in the perfommue of any of the terms and conditions of this illfsAiNIVIOnt
<br />or dhe said now. all the "M,. revenues and income to be der Wod from the said premises during such time as the indebtedness
<br />fiftaft remain unpaid. and 11w. Under shall have pO%%(-j• tij appoint any agent or: agents it may desire for the purpose of repairing
<br />Vall Me rents. revenues. and 4.wAme, and it may pay aa of said incomes
<br />..jaij premises and of tenting the same and cotlot
<br />repairing said prmimjwd necessary coMMi5sk)(Is and a,14XVI-ws incurred in tenting and managing the same
<br />all expenses of ; jfAi halance remaining. if an a, M.,). I ,jrV W toward the discharge of said indebtedness.
<br />and of coltm1inS fentals therefrom .9. 1.
<br />8. That the Borrower will keep the improvements now existing or kqql cr erected On the VOPefty- insured as may
<br />be required from time to time by the Under against loss by fire and othv.'!;azards, casualties and contingencies in such
<br />anwvjnls and for such periods as may be requited by the Lender and will pay promptly, when due. any premiums on such
<br />insufamc provision for payment of which has not been nude hereinbeforc. All insurance shall be carried in companies ap-
<br />p . roved by the Under and ft policies and renewals thmwf 4wll lie heli 1`1 r1jr- gnd have a t-ghed thereto tist payable
<br />clauw,$ in filvor of and in form acceptable to the Lender. In event of l(1,\,j.Vjtitfftwcr will give immediate notice by mail to
<br />- promptly by Hortow�r. and each insurance company concerned o-- hereby
<br />(he Lender.who may make proolof if-Al if not made
<br />w.W6mized and directed to Mike MMM fox such loss difccily to the Lender instead of to the Borrower and the lAnkt
<br />)lirwly, and ft imursice pro ceeds. of any pars thereof. nuy be applied by the Lender at its opticin either to the r-climtkin
<br />of ft indebtedness hereby secured or W the ftst"AtiO0 11T tepifif of the property damaged. In event of foreclosure of this
<br />ijiqrvttKrA t" (_lthe, tFjn%fCr ttf talc ti►tlw 11mittgagcd property Fn cmingulshment 41f the indebtedness secured hetchY. all light.
<br />tale and intercit of the Mlo%cr in and (t) any insurance yolidc3 then in fiine shall pass 14) the purchaser tit grantee
<br />collioct'll %"llrily for tk- payirwri if the note desoNA, and all sum,, it) I'Coillic dug under
<br />the. in'sminelit. 0C Wirl".%rr hcfcby US-61glis to (lie Leridut aH tyruffit'q. feventic,4, n%yalltes" f15•111% Sllll tterlefits acwtuilq: tit
<br />the Wwrs-,►vr Utkkr any and a)) fill and gas 11IS0 0D 541KI PrCl11l1C;i, 'All)) the tlgt'V tL'lCkC'VCand F"CiPt t'ir the %iflIC and
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