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<br />sonower and under covenant and a9roo as followr
<br />1. That Borrower wfl pay the hdebtedrtess as hereinbetore
<br />Provided. Prk,ege is r"Mad to pay the debt in whole or in part CM
<br />any inswarnant due date.
<br />2. That PRO 'her wind, and in ad*Jm to. the nattily payments
<br />�.40d epA tftmd tom:wahu L*dar the tam of the note secured
<br />hereby, lei m said n so iu1 paid. $ Mo �g am"* y of each
<br />(a) A star equal to the ground ref" N any. nett +doe, Ploa the
<br />prntitasa that A nod boomtta due and payable on policies of fun
<br />and other hemd fmstaanoe oWA" tide ProP", Pee axes and
<br />assessments nod due on the pmp rly (era as atlr 01 1 by the Lander)
<br />loss d sums already paid thardw divided by the number of months
<br />to elapse before one (1) month prior to the date when such ground
<br />rents. premiums. taxes and assessments will become ddqusnt. such
<br />sums to be held by Lander In trust to Pay said ground dents.
<br />premiumm taxes and spKM assassmari ; and
<br />(b) p pWMWAs mentioned in the proos!ifdsyt subsection of this
<br />:.. are l pr yments. to be math u ierr the natrp aseursd
<br />ttilsdef�t shwa be >tidded t 90wl ltww : and the @Wept* a oew
<br />still be PW' thq ftum W each month in a single f*r,"M to
<br />esppM by thrf W(tdar to �h* ttsiiowksg items in the Order- salt tats;
<br />W ground' ha- "farces. as ` ::` is, tv and other hwwd ttssur
<br />ante premiums;
<br />(u) interest: W. the note secred hembir. .
<br />(1II) amort°saldon of the principal of sak! rtt�itf `a4d .
<br />(11) late charges
<br />Any de,ciwwy in the amount of such aggregate monthly payment
<br />shall. unless made good by the Borrower pdior to the due date of the
<br />nerd such payment, constitute an event of default under this
<br />mortgage. The Lander may co"ct a list* charge• net to exceed four
<br />cents (44) for each dolor ($t) of each payanent more than filters
<br />(15) days In arrears to rover the extra expense involved in handling
<br />dd nquent payments.
<br />3. That R the total of the payments made by the earrower under
<br />(e) of paragraph 2 preceding *half exceed the &mount of payments
<br />actu* made by the Lander for ground rents, taxes and ossessnrats
<br />or insurance premiums. as the case may be, such excess. N tits Iran is
<br />currant, at the option of the Borrower, shut be credited bet the
<br />Lender on subsequent payments to made by the Betower. or
<br />refunded to the Borrower. ff. however. the monthly psymunts made
<br />by the Borrower under (a) of paragraph 2 pr*eeding sJuM not be
<br />suf,cient to pay ground rents. taxes end assessmwt6 ur insurance
<br />pramaums, as the case may be. when the some shale became due and
<br />payable. than the Borrower she, pay to the Lender any amount
<br />necessary to make up the dolide cy. an or before ih* dote when
<br />payment of such ground rants. taxes. assessments, der Iitms Mce
<br />prerniume shall be due. if st any time the Borrower nhoM tender to
<br />the Lender. in accordance with the provisions of the nvte secured
<br />hereby, lull payment of the entire ktdebtedrues represented thereby.
<br />the Lender shot in computing the amount of such indebtedness,
<br />cfedrt to the account of the Borrower any balence remairing in the
<br />funds scor tubied under the provisions of (a) of paragoph 2 hereof.
<br />If there shall be a default under sty of the ptovi3ion3 of tnis
<br />instrument r*stAting in • public aerie of the promises covered hereby.
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<br />or N the Lender eequkaa the Poparty otherwie. atkr de4at11f. the '
<br />Ladder she, qq*, at the butte of the owtem*ncentent of such
<br />proceedtr+pe, or at the time the property la othwMse acgokad. the
<br />beia mw then rernekring in the 11111110 aaaulmriirti111 iutddler,(a) of
<br />paragraph 2 prscettktp, as a cr*dIt egaittat the amtrttnt'of pdndpd
<br />then remaining unpaid under said note.
<br />4. That the sonower will pay ground tbntft.: tRAW asaesirnertt:4
<br />water tatter and other 9ovammeitm or municipoll otWVW- firers or
<br />knposMo . for which prgvialort hao'not. betel. nude horsknbelom
<br />end its ddsuit thereof the Under miry paYP,thn wine: end that the
<br />Borrower wia promptly delver the e1110i111 rACWpts theraWJI0 the
<br />Lender.
<br />9. The Borrower ws pay tit taxes which mw be levied upon the
<br />Landau's Interest in said teat estate grid improvements. and which
<br />may be felled upon this aratm m t or the debt secured hereby (but
<br />only to the extent that such In mat prohibited by taw and only to the
<br />extent that such wait not matte thlo. loan usurious), but exdu&g airy
<br />income tax, State or Federal, Its gjad on Lander, and will Ale the
<br />oflldal feaipt showing; aueh• payatent with the Lander. Upon
<br />viol *w of this VndrMW g, if the 8orraMUer Is.tsro ibited by any
<br />faw:myw err h:',#??hr WYktg file wrier or any portion .,
<br />et titer;. fiaesaid ttr�iitsr: or itsce, rendeinp of any cattft �latxee .. � �� ;-'
<br />pt isiititt�p the p�idia nt blf tf?R to i tower of any such >s%14oi' ;,r:
<br />sudc ltsw or dew provides that arty amount so paid by
<br />Borrowershak 6.#uted on the debt. thtdErACdscsha,exe the'. + '.t,.
<br />fight to give itktw�`isays- written notice to ""'$'nil. #4mer of the premisew
<br />requking the pay ,,+ant of the debt. if such notice be giver,3 to dtai8 ''
<br />debt Shalt become due. payable wd collectible at the expOMn of
<br />salt ninety °dap., ,
<br />B. That atratpilt'tt:ua Borrower learn to pad a;.W- mum or keep any
<br />=,M&nt o.mf4led'Rrc n this irr -v W. fPec••ua Lender. at its
<br />CRlitaum;, itWry ptZik rx perform trN& suite. and so expenditures so made
<br />shrill be added fix -arse principal scum awing on the said note. shall
<br />be secured hdralay. and she$ bear interest at the rate set forth h the
<br />said note, until paid.
<br />7. The the Borrv.rer hereby assigns. transfers and sets over to the
<br />Lender. to be app6W toward the payment of the note and a, sums
<br />secured hereby In cgs* of a default in the performance of any of the
<br />terms and conditions of this instrument or the said note, all the rants,
<br />revenues and inoorne to be derived from the sold premises during
<br />such time as the Indebtedness shaN retrain unpaid. and the Lender
<br />she, have power to appoint any agent or agents it may deske for the
<br />purpose of repairhp said premises and of renting the same and
<br />collecting the rents. revenues and income, end N may pry out of said
<br />Incomes Y expenses of repairing said premises and necessary
<br />commissions and ercpsrtses Incurred in renting and managing the
<br />same and of cokcling rentals, thaalrom: the belsm Containing. it
<br />any„ to be applied toward the discharge of sold indsbtedraff&
<br />Ei That the Borrower will keep the Improvements now exlstbg cr
<br />hereafter erected on the property. Insured as may be required from
<br />firm* t tltme 4y the Lender against loss by fir* and other hazards,
<br />cloli Ms tern c »ntingencles In such amounts and for such periodi
<br />a moy be rsca:'red by the lender and wtN pay prompty, when due.
<br />any prerrriume. om..such insurance. provi kxl for payment of which
<br />has not been, made o herdnbefore. Al inswruion shall be carried in
<br />companies &Wt?ued by the Lender and the pClldes and renewals
<br />thereof shelf be NO by the Lender and have attached thereto loss
<br />pwysbte causes in favor of and in form eccePUbfe to the tender. In
<br />event of loss Borrower wig give immediate notice by mail to the
<br />Lender, who may make proof of loss if not made promptly by
<br />Page 2 of 5
<br />rruu-:tcrWur -1
<br />(Form F012.pfm)
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