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<br />Borrower geed Eerier cove and agree as foNows:
<br />II: Thal Borrower will pay the indebtodnc&% as hereinbefore
<br />provided. Privilege is reserved to pay the debt in whole or in part on
<br />any installment due date.
<br />2. That. together with. and in addition to. the monthly payments
<br />of principal. gad interest payable under the terms of the note secured
<br />hereby. the borrower will 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 the ground rents, if any. next due, plus the
<br />premiums that will next become due and payable on policies of fire
<br />MA other hazard insurance covering the property. plus taxes and
<br />assessments next due on the property (all as estimwd by tike lender)
<br />!e=Z =."'. L--dY p:i d tit.i"`- W tti:idad by ttmi - niimtici -01 iirt"Idn
<br />to elapse before one (1) month prior to the date when such ground
<br />rents, premiums, taxes and assessments will become deliquent, such
<br />sums to be held by Lender in trust to pay said ground rents,
<br />premiums. taxes and special assessments; and
<br />(b) All payments mentioned in the preceding subsection of this
<br />paragraph and all payments to be made under the note secures
<br />hereby shall be added together. and the aggregate amount thernor
<br />shall be paid by the Borrower each month in a single payment tom. -be
<br />aped by the Lender to the following items in the order set Gfi:
<br />M ground rents, taxes, assessments. fire and other hazard insur-
<br />anac [acemiums;
<br />(Ili Tr.•:rest on the note secured hereby.
<br />(111) amortization of the principal of said note; and
<br />(IV) late charges.
<br />Any deficiency in the amount of such aggregate monthly rtp1170xt
<br />shall, unless made good by the Borrower prior to the due care al Poe
<br />next such payment. constitute an event of default under this
<br />mortgage. The Lender may collect a "late charge" not to exceed four
<br />ants (49) for each dollar ($ 1) of each payment more than fifteen
<br />(15) days in arrears to cover the extra expense involved in lu, dNng
<br />t'tli:a{et►:rtt payments.
<br />3. That if the total of the payments made by the Borrower under
<br />(a) of paragraph 2 preceding shall exceed the amount of payments
<br />actually made by the Lender for ground rents. taxes and assessments
<br />or i=ranee premiums, as the case may be, such excess, if the (n 4n is
<br />curtcm. at the option of the Borrower. shall be credited by tte,
<br />Lender on subsequent payments to be made by the Borrower, ar
<br />refunded to the Borrower. If. however, the monthly payments made
<br />by the Borrower under (a) of paragraph 2 preceding shall ma, ii^x
<br />sufficient to pay ground rents, taxes and assessments or insurmcc
<br />premiums, as the case may be, when the same shall become ditu and
<br />payable. then the Borrower shall pay to the Lender any amount
<br />necessary to make up the deficiency, on or before the date when
<br />payment of such ground rents, taxes, assessments, or insurance
<br />premiums shall be due. If at any time the Borrower shall tender to
<br />the Leader, 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 hereof.
<br />If there shall be a default under any of the provisions of this
<br />instrument resulting in a public sale of the premises covered hereby.
<br />or if the Lender acquires the property otherwise after default: the
<br />Lender 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 preceding, as a credit against the amount of principal
<br />then remaining unpaid under said note.
<br />4. That the Borrower will pay ground rents, taxes, assessmens.
<br />water rates.,and other governmental or municipal charges. Gnc%.or
<br />impositions. for which provision has not been made hereinbefore,
<br />and in default thereof the Lender may pay the same; and that trio
<br />Borrower will promptly deliver the official receipts therefor to ilia
<br />Lender.
<br />S. The Borrower will pay all taxes which may be levied upon the
<br />%Mier s interest in said rM esfite and improveiire ts, andwhich
<br />may be levied upon this instra>nta or the debt stxxtM hax41y ('but.
<br />only to the extent that such is not prohibiw by law aritI. Uhlite the
<br />extent that such w�71'not make this loan unuirnis , but exctAng any
<br />it me tax, Sate oc federal, imposed on t4md�:r and will file the
<br />0071 d receipt showing such payment with 1e'1xnder. l3jir %—,
<br />yr on of this undertaking, or if the Borrow_ is prohdiitaby any
<br />law now or hereafter existing from paying tlia~ tsrhole or any'portion
<br />of the aforesaid taxes, or upon the renderink. nf: my court decree
<br />prohibiting the payment by the Borrower otan5i such taxes, or if
<br />such law or decree provides that any amourxw paid by the
<br />Borrower shall be credited on the debt, the Lender shall have the
<br />right to give ninety days' written notice to the owner of the premises,
<br />requiring the payment of the debt. If such notice be given, the said
<br />debt shall becorfi dxie. payable and collectible at the expiration of.
<br />said ninety dayt *.
<br />ti. That should the Borrower fail to pay any sum or keep mty .`
<br />covenant proviW for in this instrument then the Lender. at its
<br />option. may pay or perform the same, and all expenditures so made
<br />shall be added aAre principal sum owing on the said note, shall•
<br />be secured hereby. and shall beer interest m the rate set forth in the
<br />said note, until paid.
<br />7. That the BuAm wer hereby assigns, tia,n%fi�rs and sets over to the
<br />Lender. to be gyxlicd toward the payment :i1the note and all sumo .
<br />secured hereby :ys'mse of a default in the peiiormance of any of Ilse
<br />U=-. and conditions of this instrument or the said note, all.the renal.
<br />..e. -roues and income to be derived from the said premises during
<br />such time as tl:e indebtedness shall remain. unpaid, and the Lender
<br />shall have powin: to appoint any agent or Agents it may desire for the
<br />purpose of repairing said premises and of Minting the same and
<br />collecting the rents, revenues and income, and it may pay out of said•
<br />incomes all expenses of repaiuing said premises and necessary
<br />commissions and expenses irutrrcd in rearing and managing ilia
<br />same and of collecting rental:: ti:e:efrrisr; dx' balance remairtitag,,i1 .
<br />any, to be applied toward the di*i#a;Fjz �t( said indebtedness.
<br />8. That the Borrower will keep the impiiwoments now existing or
<br />hereafter erected oa iPe property. insured as may be required Unmi
<br />time to time by Ilse Lender against loss by fire and other haaLniw
<br />casualties and contingencies in such amounts and for such periudi' as)
<br />may be required by the lender and will pay promptly, when duo.,
<br />any premiums on such insurance, provision for payment obwhich
<br />has not been made hereinbefore. All insurance shall he 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 favor of and in form acceptable to the Lender. In
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