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<br />/aaa[e atN !fir oorutraal tttade IatBewsr or if the Lender acquires the property otherwise after default; the
<br />1 vii! Leader shall apply. at the time of the commencement of such
<br />Pray tie , as hereiabefore promdiugs, or at the time the property is otkrwise acquired. the
<br />prewidad.
<br />hit is rtesertred 10 pry tk debt in whole or in part on bolas= then remaining in the fords ammuiated under (a) of
<br />soy iftWIMettt dde dik,
<br />Paragraph 2 Preceding. as a credit against the amount or principal
<br />then remaining unpaid under said note
<br />a:ly piyfrei`oto -- - - - — - -- — — --
<br />Eby. the payaDie under tie tams of rift; nine Waxed 4. That the Boaower will pay Ercwnd rents. taxes, assessments.
<br />we pay to lie Ladder, on, gk !seal dry of cKh *rater rata, and other gov+tra scow or rrtwticipal- cltugk fug or
<br />atottth nosh lk aw auyte is lay Arid, the io"wiitg sums: IMPoaitioras, for which provision hat hot been trade ben iabefom
<br />Amelia defsurh lureof
<br />(a) A sum egatai to tie gnmi d rents. if lay, next die. plus Ike
<br />pre tniaaaa tint volt (text becom die rand payable on policies of fire
<br />and dlier hazard insurance cowriag tk property. plus taxes and
<br />amsarrenta next dw os tie propmy (mNrat imo iamm i p a1r Lewder)
<br />Mat &Mauna abrady paid tierefordivided by the amber of months
<br />a dam bafae one (1) oxM prior to Ile date when such ground
<br />rear► preaaicans, taxes sad sareasmeats wilt become deliquent. such
<br />wens to be held by Leader in (no to pay said ground rents,
<br />prtentiwae� taxes and special aaaeaanatts; and
<br />(b) AY payoneate mentioined in the preceding subsection of this
<br />Pw�apla and all psym ass to be made under the note snared
<br />hereby shalt be added together, and the aggregite amount thereof
<br />shall be paid by the Borrower each month in a single payment to be
<br />applied by the Lendes to the following items in the order set forth:
<br />(1) gt+owd RKS- taxea.asseuments, rive and other hazard insur-
<br />nape ptrnta o tee;
<br />(11) interest on tbL-.* le seeured hereby.
<br />(111) aaaortiaaarn at the principal of said now and
<br />(IV) late charges.
<br />Any deficiency in the amount of such aggregitta monthly payment
<br />shall, unless made good by the Borrower prior (a the due date of the
<br />Next such psyroweL constitute an event of default under this
<br />mortgage. The Lender may collect a -fate charge•, not to exceed four
<br />ants (44) for each dollar (f I) of each payment more than fifteen
<br />(15) days in arrears to cover the extra expense involved in handling
<br />delinquent payments.
<br />3. Thu if the cola! of the payments made by :lie Borrower ruttier
<br />(a) of pwwaph 2 preceding shall exceed the amount of payr6ents
<br />actually made by the, a ender for ground rents, s2 :es and asW"r►rents
<br />or insurance preourrtrT, as the case may be, s;ub excess, if the loan is
<br />current, at the oplikar.clE the Borrower. shall lot audited by the .,
<br />Lender on � 3taymerus to be made by the Borrower, of
<br />rt(WWW,d to the Borrower. if. Nw rmr, the monthly payments made
<br />by the 16.0ower under (a) of paragraPh 2 Preceding Shall not be
<br />sYl6,
<br />36 pay gusstted rents. ttxesand auesxtnimts4w insurance
<br />prertA ire' ' as the Caro tray be. when the same OWN hecome due and
<br />payable: theta the Borrows shall pay to the Lender any amount
<br />nearttit T;6 make up the deficiency,, ,on or before the date when
<br />gymixtt.rof such ground rents. U11-0i assessrraents, or insurance
<br />ptentnowshatl be due. fiat any ;dint the Borrower shall tender to,
<br />Ik Leader. in accortfitnce with the provisioes of the note secured
<br />hereby. NO payinelf6tl the entire indebtedness tgRvsented thereby,
<br />tie Lender shall. in cwnpwting (be•amount of such indebtedness,
<br />credit 1C> the account of the Borrcwer-.any balance remaining in eke
<br />futudt atxuarttriated tender' the prnkisio ;es of (a) o f paragraph 2 hereof.
<br />If them "sW be a dirkult under nay, of the provisions of this
<br />inatrwnent sescahiat� in•a7 Pub c- auto of the premises covered hereby.
<br />t the Leader MAY pay tie same: said tsar tk
<br />Borrower will promptly deliver the official "cdpts therefor to tie
<br />Lender.
<br />S. The Borrower will pay all taxes which maybe levied upon lk ,
<br />Leadee s intenat in said real estate and imprrlvanenes, and wYeA'
<br />may be levied upon this instrumem or the debt secured hpftttiv'(but
<br />only to the extent that such is not prohibited by law and "r" to the
<br />extent that such will not nuke this loan usurious), but exci"ag any
<br />incoaro tax. State or Federal. imposed on Lender, and will rate the
<br />ofrxW naipt showing such payment with the Lander. Upon
<br />violuan of this undertaking, or, if the Borrower is ptniibited by any
<br />law now or hereafter existi* fivym paying the whale or any portion
<br />of the aforesaid taxes, or uprtm the rendering of any court decree
<br />proWling the payment by;tbr Borrower of any such taxes: of if
<br />such law or decree provides shat any amount so paid by the
<br />Borrower shall be credited on the debt, tie Lender shall have the
<br />right to give ninety days' written notice to the owner of the premises,
<br />requiring the payment of the dbt. if such notice be given, the said
<br />ddat shall become due, payslip sad collectible at the expiration of
<br />said ninety days.
<br />6. That should the Borrower fad to pay any sum or keep any
<br />covenant provided for in this instrument, then the Lender, at its
<br />Option. MY PaY of Perform the same. and all expenditures so made
<br />shall be added to the principal sum owing on the said note, 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 a•7j . sums
<br />secured hereby in case.of a default in tk performance of ary of the
<br />terms and conditions of this- instrument or the said note. all the rents,
<br />revenues and inusmty to tndulved from the said pret+its-5 duriq . .
<br />such time as the indebtttdnaw!A0 remain unpaid. and the Lender
<br />shall have power to appoint ayy agent or agents it may desire for the
<br />purpose of repairing said premises and of renting the same and
<br />collecting the rents, revenues and income. and it may pay out of said
<br />incomes all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the
<br />same and of coliecting rtntals therefrom: tk balance remaining, if
<br />any. to be applied toward the disciatge of said indebtedness.
<br />8. that the 0640wer will keep the improvements now existing or
<br />hereafter• OTWed on the property, insured as may be required from
<br />ti=idlime by the Lender afainst.loss by fire and other haxat4
<br />casjiffler and contingencies rrhttur�4a amounts and for sud,peiirids as
<br />ma}' Ise: required by the Lender mid will Pay promptly. ohm due.
<br />any pt n—iums on such insurance. provision five; yfdttrt of which
<br />has not (seen made hereinbefore. All iraaurartrltt it becar;iuxl in
<br />companies approved by the Lender and the p64 6 s and rriiewals
<br />thereof shall be held by the Lender and have attached thrrviu "cros
<br />payable clauses in furor of and in form acceptable to the lender. In
<br />Pages 2 or 6 -- -- -
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