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<br />Borrower cad LAYAIer eovemm mW aflree all follows:
<br />1. That Borrower will pay the indebtedness, as hereinbefore
<br />provided. Privilege is reserved to pay the debt in whole or in part on
<br />any instillment due date.
<br />2. That. together with, and in addition to, the monthly payments
<br />Of principal and interest payable under the terms of the nice secured
<br />hereby. the Bormwer wilt pay to the Lender, on the first day of each
<br />month until the said note is fully paid, the following sums:
<br />(a) A sum equal to Este ground rents, if any. next due, plus the
<br />premiums that w9f nest bwame due and payable on policies of fire
<br />and other hazard insuance covering the property, plus taxes and
<br />assessments next d`.ae on the property (all as estimated by the Under)
<br />less all surns already paid therefor 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 became deliquent, such
<br />sums to be held ire Lender in trust to pay said ground rent%
<br />premiums, taxes card, special assessments and
<br />(b) All paymeat� mcntiweJ in the preceding subsection of this
<br />paragraph and W fax innirm-ra be made under the note secured
<br />bereby shall be addr_fd uV e?mr. and the aggregate amount thereof
<br />shall be paid by the Oomrac-reach month in a single payment to be
<br />applied by Use Lender to d!iie following items in the order set forth:
<br />(1) ground rents. taxes, assessments, fire and other hazard incur-
<br />ancc premiums,
<br />111) interex,en the note secured hereby:
<br />(111) amortization of the principal of said note; and
<br />AV) late charges.
<br />Any defirieimy in the amount of such aggregate monthly payme,it
<br />shall, unlem rt We good by the Bumrwer prior to the due date of the
<br />next such paunrecrt, constitute an event of default under this
<br />mortgage. "r Lender may. collect a "late charge" rrot.to exceed four
<br />ants (419) for each dollar 1St) of each payment more than fifteen
<br />(IS) days in a.rrtars to cover the extra expense involved in handling
<br />delinquent pitycnents.
<br />a. That if the total of the payments made by the Borrower under
<br />(.xl.of pangs,.( -di 2 precedii shall exceed the amount (,-f payments
<br />.arc ally ma;P iy the Lenfar. for ground rents. taxes and assessments
<br />:,tr insurance pr :omiums. xi die case may be, such excess. if the loan n
<br />current, at ttm- option of thtf Borrower. ,&Jl be credited by the
<br />f ender on subsequent pax rncsrtts to be made by the Borrower, or
<br />refunded to the Borrower. If, however. the monthly payment~ made
<br />h'y the Borrower under Ia)loilp.aragraph 2 preceding stall not he
<br />sufficient to pay ground r�.,oju, taxes and assessments or insurance
<br />premiums, ;c the case tra3 he, when the same shall h tcome due and .
<br />payable. thins the Borrower shall pay to the Lender any amount
<br />necessary to make up the 6liciency. on or before the ifar-- when
<br />(stx}mem of such groui& =Co. taxes. assessments, or nrrruetnce
<br />fartniums shall be due. if at any time the Borrower snitV1tender ti,
<br />she i finder, in mcordanee with the prowsrans of the note secured
<br />Weby, full payment of the entire indebtedness represented thereby.
<br />the Lender shall. in computing the amount of such indebtedoc ti.
<br />credit to the account of the Borrower any balance temuining in the
<br />funds accumulated under the provisions of (a) i +f pa: ,{traph 2 hereof.
<br />If there shall be a default under any of the provisions of this
<br />instrument resulting in a public sate of the premises covered hereby.
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<br />or if the Lender acquires the property otberwise aftsr default. the
<br />Lender shall apply, at the time of the comMemMi. 1i'Of such
<br />proceeding_% or at the time the preperty is utherWijo %Cquired, the
<br />balanm then remaining in the funds, acc:umidated under (a) of
<br />paragraph 2 preceding, as a credit against the amount of principal
<br />then remaining unpaid under said note.
<br />4. That the Borrower will pay ground:tents, taxm assessments.
<br />water rate% and other governmental err Municipal charges, fines, or
<br />impositions, for which provision. has not been made herdribefore.
<br />and in default thereof the Lender rttay pay the same; and that the
<br />Borrower will promptly deliver the ofrrciah receipts therefor to the
<br />Lender.
<br />S. The Borrower will pay all'taxes which may be levied upon the
<br />Lendee s interest in said «al est3ic iitt►t. irnprovements, wo while h
<br />may be levied upon this instrument or the debt seetLed hereby (bet
<br />only to the extent beat such. is not prohibited by law and only to the
<br />extent elite such will'not afalt« this hoax curious)~ but excluding at-.r
<br />income tax. State Qi fe*aritl imposed cft (.ender,, &-x will fie the-
<br />official- receipt. showiiig44di °fia�•mce? x;i;i the Lender. Upon
<br />violation.nf this undcictt- fv;rrif IJ* 8arrower is prohibited by any
<br />law now rv' heinatRt:re>�t�r� from paying the whole or any portion
<br />of the aforesaid taxes,.ar n,N- -n the rendering of any court decree
<br />.prohibiting the paymiit4 L- 'the Borrower of any such taxes, or if
<br />t-xh low ordecree provides that any amount so paid by the
<br />Idorrowta; c.hall be credited on the debt, the Lender shall have the
<br />right to -give ninety days_ written notice to the owner of the prermb4m;
<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. This, should the Borrower,fa l to pay any sum or beep any
<br />covenaat;pzavided for it,. 6:s irstrumcnt, then the Lender. at its
<br />option, rt ay pay or peKkinr.t the same, and all expenditures so made
<br />shall be afded to the piipa1 sum owing on the said note, shall
<br />be sccureW tereby. and shall bear interest at the rate set forth in tli2
<br />said note, until paid.
<br />7. That the Borrower hereby assigns, transfers arrhws over to the
<br />Lender, to be applied toward the payment of the taxir and all sums
<br />secured hereby in case of a default in :f1e perfornmoce of any of the
<br />term, and conditions of this irstrurtwx of the said note, all the rents,
<br />revenie ar-d income to be derived irom the said premises during
<br />such' _'Xnvas the indebtedness shall remain unpaid, and the Lender
<br />shall have power to apfr . Int any agent or agents it may desire for the
<br />purpose of repairing sail(; premises and of renting the same and
<br />collecting the rents, revenues and income. and it may pay out of said
<br />incomes V expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom. the balance remaining, if
<br />any. to be applied toward the discharge of said indebtedness.
<br />8 TNI i.bc Borrower will keep t5c im -provements now existing or
<br />hereafter ¢iected on the property. imumi as may be required from
<br />unit ur time by the Lender against i"s by fire and other hazards,
<br />casualties and conungenci ^s in such wneunts and for such periods as
<br />may be required by the tender and - .ujll:pay promptly. when due.
<br />any premiums on such insurance. pswisiun for payment of which,
<br />has not Ixen made herernbefore. Atl immonc:e shall be carried in
<br />companies approved by the Under and the policies and renewals
<br />thereof shall be held by the Lender and have attached- thereto loss
<br />payable clauses in favor of and in form acceptable to the Lender. In
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