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<br />89-105208
<br />nal- a'tK Wd Lum4W avr NNd agree W fellows- or if the (render acquires the property otherwise after defauh, the
<br />Lender shall apply, at the time of the commencement of such
<br />!.That worn elf! is win pay the psy thedanr, as hole o in p proceediw or at Ue tirne the property is Otherwise acquired the
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<br />say ved m py the" in node or in pan on ba4noe then ternainirtj in the funds secumulated under (a) of
<br />paragraph 2 preceding. as a credit against the amount of principal
<br />then remaining "Paid under said nee. - - -- - - --
<br />_ - rritlt_ani�e sddrtionio. -tl`e ifiontTily MYmeiits _ -- - - -- --
<br />of JR—i/ai and late lsat payable under the tem or the note secured
<br />hereby. Ae 1mower will pay to the Lender. oa the fitm day of each
<br />MOWA OW rite slid nose is fully paid, the folbwisg sums:
<br />(a) A sws egaal to the ground rents, if any, next due. plus the
<br />praniam do still next became doe toed payable on policies of fire
<br />acrd otter h sz&W insurance covering the property, plus taxes. and
<br />sett+ mmeatst no dire on the property (am as esairrAW by Of Lewfer)
<br />Iarc AN serna shmWy paid therefor divided by the number of months
<br />10 oaiapae be fore txhe (I) maNti prior to tfhe date when suer ground
<br />rents. Witaiwaas, taxes and assessments wig become deliquent. such
<br />swats to be bead by Lender in trust to pay said ground rents,
<br />prewisma, taxes and special atssossmertts; and.
<br />(bi 4(1 paynhates mentioned in the preceding sabstetion a€ this
<br />parajraldh cad all peytneats to be made under the trot! secured
<br />hereks still! be added together, and the aggr*le amount ttterr.;�f
<br />ARM be pid by the Borrower ela waist in a single paynwt: to be
<br />811111 *10 45Y the [.trader to the folluir'n!t items in the order sit k rth:
<br />(4 t»d "M;5, tp %0% usaessrnents. fire amt other hazard insur-
<br />ance premiums;
<br />([Wirikrtest on the note secured hereby;
<br />tY[Tt+' :iuutortumion of the princigl of said note: and
<br />Arid *kiency in the amount ogsuch aggregste monthly. p *yinvnt
<br />shall; w0as made good by the ilex -siwer prior to the due div., r ; the
<br />Next such payttaent, constitute an 6-1=1 of default under this
<br />mortgage. T'he Lender may collect a "late charge, to exceed four
<br />ants (dg) for each dollar (51 t of each payment more than fifteen
<br />(IS) days in arrears to cover the extra expense involved in handling
<br />delinquent payments.
<br />I That if the total of the ps }W a0 = made by the Borrower under
<br />(a) of paragraph 2 pr,- ceding ska:ti r red the ..rtst�vrt of payments
<br />actually made by ttre l.a nder (of y,, -aund rents; tzzi and &%tSsment.
<br />or insurance premiums, as the twe t1sy be, such excess, Of uic• 14510 IS
<br />w;4'r�n",11 the option Of the Borrhtwer, shall he credited by Ue
<br />1arA in; c,n subseq;reni payments to be mate by the Borrower, or
<br />refunded to the Wm It, however, the monthly payments made
<br />by the Borrower '- (a) Of paragraph 2 preceding shall not be
<br />sufficient to pay groutd rents, taxes and assessments or insurance
<br />Premiums- as the Use may be, si?i M clhe same shall become dvu.:md
<br />payable. then the Borrower shale pty to the Lender any amount
<br />necessary to make up the deficiency. on or before be date when
<br />payment of such ground rents, taxes, assessments, 4)r insurance
<br />premiums shall be dare. if at any time the Bornawe:r shall tender to
<br />the Loader, in accordance with the p(ovasiuns A the note secured
<br />hereRry, lull payment of the entire rrtdebtedness represented thereby,
<br />ttie Ctader sliall, in computing the autount of such indebtedness,
<br />credit to eke accomt of the Bowrowcr any halanc r remaining in the
<br />fwek accumufated under the provhsrons of tr) of paragraph 2 hereof
<br />Hthere shall be a default under any o of the prawmims Uf this
<br />'WfW hens restating in a public sait;.af the premises covered hereby,
<br />4. That the-Borrower will pity ground rents, taxes. assessments,
<br />winner fates, and exkr gowerrta emd or municipal charges. finch. or
<br />irnpoatiaak for whidt I)MVi;iion bas nor been made heminbefae.
<br />and in default thereof the Lender may pay the name; and tbttt the
<br />Burrower will promptly deliver, the OQiaial,rrceipts therefor to the
<br />Lender.
<br />S. The Buroiver will pal all. macs whici -may be ievkd�upoa the
<br />tender is iritercg in said tratetratrt end improvt;mcnr4:and which
<br />may be kvipd upon this ittsiranent or the debt secured. ler4tly (but .
<br />only to the esitirttt_that strc b is not prohibited by law sad only td -tttc ,
<br />extent that stick iO not, shake this loan usurious), but-excluding any
<br />inoonhe tors. Stp`h (it fedora; imposed on Lender, Gird wiff- fi[e the ;
<br />otittiai rooeipt tiltctwM9 sud. payment with the Lender,. tlpoe
<br />vltiftrtion of this undertaking;, t {t'_if the Borrower 0. prohibited by any
<br />law now or hereafter existing. 1�7m psyin({ the whole or any portion
<br />of the aforesaid taxes, or upan'the rendering of any court decree
<br />prohibiting the payment by. the Smewer dfakny such tries, or if
<br />such law or decree providr!�& thtt any amount so paid by the
<br />Borrower shall be credited an tflk debt. the Lender shall have the
<br />66bt to give ninety days wttfirit notice to the owner of the premirts,
<br />rlipuirang the ptsrneat of the debt. if such notice be given, the said'.
<br />dent shall became: due, payable and coflectibk It the expiration of
<br />said ninety days..
<br />tr, "That should the ewrow�r to pay any sum or keen any
<br />cvvciiunt provikk -, for in this emwument. tba, the Lender, at its
<br />option, may Pa3f t v perform the same anal aft expenditures so made
<br />shall be added to the principal sum owing on the said notc shall
<br />be secured hereby, 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 caw of a default in the performsnce of env of the .
<br />terms and conditions of this c,nrnsment or the said note, alt he rents.-.
<br />reeenues and income to be a ie ;; v�3 from the said premises during
<br />.4x;fr sine as the indebtedness i; ;at'il remain unpaid, and the Lender
<br />Ou4l, have power to appoint any agent or VOWS it may desire for the
<br />srwtse of rep aL74 said premises and of renting the same and
<br />1.v.j1i%11nX the rents, revenues tint: income, and it may pay out of said
<br />;if4;rarmes all erpen:,es of repaitaiW �;tid premises and ncce a ry
<br />Cmirmrssions xnkf r.Zpensei miat: and in renting and manseill the
<br />same and of cuYtiMag renta:> claerefrom; tttwt:t%lance remaining, if
<br />any. to be applit- toward the discharge (9- :•94 indebtedness.
<br />8. That the Borrower w i 1 B4u.11 the improvements now existing or
<br />hereafter erected on the prope.-v. insured 4s may be required from
<br />time to time by Ott Lender against toss by fom and other Wards,
<br />casualties and urntrcrgencees m such smowtis. anal for such periods as
<br />may be required by the Lender and will pay promptly. when due.
<br />any premiums on such insurwrre, provision for psymeat of wfiich
<br />(tax not been made herernbeftrre. All insurance shall be carried in
<br />companies approved by the Under and the policies and renewals
<br />thereof shall he held by the tender and have attached thereto loss
<br />payable clau!4% tit favor of and in form acceptable to the Lender. In
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