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sallower and Lender covtoW and itltree as folbws:
<br />1. That Borrower will pay the indebtedness, as hereinhefore
<br />provided. privilege is reserved to pay the debt in whole or in part an
<br />any installment due date.
<br />2. That. together with, and in addition to, the monthly payments
<br />of principal and interest payable under be tems of the ot �«ed
<br />hereby, the garrotter will pay the following sum' s
<br />month until the said note is fully paid.
<br />(a► A sum cgtud t ^ the ground rants, if any, next due, plus the
<br />premiums that will next become due and payable an policies of fire
<br />and other hazard insurance covering the property. plus taxes and
<br />ayessrrienis next due on the property (alcas estimated by the lender} S. The Borrower will pay all taxes which may be levied apart tha improvements. a
<br />IM all sums already paid therefor divided by the number of months fNender's interest in n s �trunteit f the secured hereby Wtl
<br />to elapse before one t I) Monti � to the t3ate wbm .ca clt ground may be levied ergo
<br />revs, premivasx:taxts and Cots w am ant, such .: extent thhat such will n�� this oar, usurious), ous), bu exonl >
<br />RgAS m be tcc {if` i�t lender t ; 3? Y:.:- i3r . or t:e fer tJ� t art 1 ettder. atxt �itT} flis t t� : .
<br />Income tax. Sla t= , ice'
<br />end special ai.. :"Ilictial revri fairwirtg sttC pent xstfirfhe Leader -ltpe
<br />5' «fSSi'GiJe�15 (i C�iCS �,'y an)!
<br />All far± smK tnentiettrri rat tie , r.iiolaty,
<br />�f`t�s•undettaking. cr tf:'thi~ IS,�mS�:vsers prolit�itted
<br />s a+slit:hJf; ayments h� *E• utfc r the note. ;::red the whole or any post n
<br />P �� •, _ ' � l�jw: rn'}siF cx• iiereafler existing (corn pty�fe.
<br />hereby shall budded together,. "said the,: . *mate amount thereof of. t& aforesaid taxes. or upon the retideting of any coon decree
<br />shall be paid by the Borraaer eirb month to a single payment to be prohibiting the payment by the Borrower of any such taxes, or if
<br />applied by the Lender to the fr>licowing items in the order set forth: such law or decree provides that any amount so paid by the
<br />) ground rents. axes. assessments, fire and other hazard insur-
<br />Burrower wall be credited on the debt, the fender shalt have the
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<br />ance premiums;
<br />(111 interest nn the note secured hereb):
<br />(1111 amortization of the principal of said note. and
<br />IIV ) late charges
<br />Any deficiency in the amount of such aggregate monthly payment
<br />shall, unless made gc„Id by the Borrower prior u+ the due date of the
<br />next such payment, con' stillitt! an dent of default unfit this
<br />mortgage. The Lender may collect a "late charge,, not to exceed four
<br />cents (4¢) for each dollar I51) of each payment more than fifteen
<br />(15) days in arrears to cower the extra expense Involved in handling
<br />delinquent payments.
<br />3 That if the total of tl* payments made by the 13i1rSower under
<br />(a) of paragraph 2 pr%Vdkqg.•ball exceed the ameu!rt tsf: payments
<br />actually made by the L.et6er f0f grtia lld rents. taxc ;:sa xssessmenci
<br />or insurance premiums, as t`c tare 0z bir, such e* ;L n. of the loan,.:
<br />current, at the option of the Sorio Acs, shall he crca 'k—.1 by the
<br />Lender on subsequent r laments to be made by t",c N'—mower— of
<br />refunded to the Borrower. If, however,fne moot "!4 payments made
<br />by the Borrower under (a) of paragrayl: w preceding shall not ix
<br />sufficient to pay ground rents. taxes C4 assessments of Insurance
<br />premiums, as the case may be, when the same shall trecome due and
<br />payable, then the Borrower shall pay to the Lender 4:r; amount
<br />necessary to make up the deficiency, on or before the date when
<br />payment of such ground rents. taxes. assessments, (it insurance
<br />premiums shall he due If at any time the Bcufower shall tender
<br />the Lender. In ac4-41rdanw. with the pnrvlstons of the note secured
<br />hereby, full payment of the entire indebtedness represented therehy.
<br />the bender shall, in computing the amount of such indebtedness.
<br />credit to the account of the Borrower any halance remaining in the
<br />funds accumulated under the prnvtsrons cif la) of paragraph 2 hereof
<br />If tbete shall be a default under any of the provisions of this
<br />instrument resulting in a public sale of the premses owcred hereby.
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<br />or if the Lender acgwres the property otherwise after default, the
<br />L•encler shall apply, at the time of the commencement of such
<br />proceedings, or at the time the property is otherwise acquired• the
<br />balance then remaining in the funds accumulated under (a) of
<br />paragraph 2 pteceding, as a credit against the amount of principal
<br />then remaining unpaid under said note.
<br />4. That the Borrower will pay ground rents, taxm assessments,
<br />water rates. and other governmental or municipal chargm fiefs, or
<br />impositions, for which provision has not been made hereinbefom
<br />and in default thereof the Lender may PAY the same. and that the
<br />Borrower will promptly deliver the official receipts therefor to the
<br />Lender.
<br />right to give ninety days written notice to the owner of the premises4
<br />requiring the payment of the debt. If such notice be given, the said
<br />debt shall become due. payable and collectible at the expiration of
<br />said ninety days
<br />6 That should the Borrower fall to pay any sum or keep any
<br />ccnenaiif. provided for in this instrument. then the Lender. at its
<br />optun, may pay ar perform the same, and all expenditures so made
<br />shall be added to the principal sum owing on the said note, shall
<br />be ucun:.hhereby, 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 />Lender. to be applied toward the payment of the note and all sums
<br />secured hereby in case of a default in the performance of any of the
<br />terms aad wriditions of this Instrurs --x or the said note, all the rents,
<br />revt:na:c, amt income to be derived ft-= the said premises during
<br />such 4 r,° -as the indet mdness shall remain unpaid, and the Lender
<br />yka.i trt:ww power to argoint any agent or agents it may desire for the
<br />pur;&0 *106 `repairing said premises and of renting the same and
<br />colleca,rtg t:he rent~, revenues and i .,,some, and it may pay out cif said
<br />expenses of repairing s: premises and necessary
<br />Corr -m, %sons and exm,,—,e% incurred in renting and managing the
<br />yank: and of collect,04 MfItals therefrom; the balance remaining, if
<br />an... to be applied towAld the discharge of said indebtedness.
<br />K That the ,forrower will keep the improvements now existing or
<br />hereafter erected on the property, Insured as may be required from
<br />time to time by the Lender against loss by fire and other hazards,
<br />casualties and contingencies in such amounts and for such periods as
<br />may be required by the Lender and will pay promptly. when due.
<br />any premiums on such insurance, provision for payment of which
<br />has not been made hereinbefrire. 411 insurance shall be carried to
<br />companies approved by the Lender and the policies and renewals
<br />thereof shall be held by the Lender and have attached thereto Ims
<br />payable clauses to favor of and in form acceptable to the Lender. In
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