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89- -14526 7 "
<br />'To HAvE AND To HOLD lice same uWa ft Mortgagee, as herein prowIded. Mortgagor represents to,, and
<br />covewnt* with, the Mortgagee, the tht MclrWkW has Sood right to sell and convey said premim. that they
<br />are tree raga ettcuanbrance. except = C*; recited; that the Mortgagor will warrant and defend the
<br />sauce agahW the lawful daims of all persons wkanever. Mortpgor hereby relinquishes all rights of homestead,
<br />all marital rights, either in law or in equity, aNd.-*11 other contingent intere9k of the Mortgagor in and to the
<br />above.dacribed premises.
<br />- ftOVIDED ALwAYs, and these txreseati of: execuNd- and delivered upon the fdbwinX conditions. to
<br />J wit:
<br />Martgagor agrees to pity to the Mortgagee, cam' :order, the aforesaid princilisil sum.witih interest frorii date
<br />K file rate, of _ WE *D A ._ ` :. _... _. 9;5�3D-
<br />pa assanat oa _WE bitlaaoe sell! pa eeatum ( �)
<br />1�.. '�: psiaciltal and igtexest shaWbe payable at the office of
<br />u5 ! 56
<br />Hamm Iia,
<br />is GW WJ v W JEW CW or at -sui ".other, puce as rho holder of the note ma d�to in
<br />i writing delivered or miaiW to the Mortgagor: in.,aadnthly installments of 13I,R HAD :�w AND 0V=
<br />DdVrs`'
<br />rnencing. : :On the,: &st day of, NNE IER 1989
<br />. acid c�ontiijp?ai'iba;frn day of each ntaynfdi thareafter tinfil said note is fully paid, except that, if not sooner
<br />paid, the f sVOMWnt Qf principal and ister*'shall Ew:"and payable on The firm day -of OMM'
<br />i al! accordiiijf to the terms of a`¢> lain promissory mote even
<br />daft IxM -Mth execueed:by the said Mortmoril
<br />The Mortgagor ftvt� agrees:
<br />1. He /she will pay the indebtedness,, as hcodnbefore provided. Privilege is reserved to prepay at any. time,
<br />without premium or fee, the entire indeistednmpr any part thereof.not less than the amount of one installment,
<br />or one hundred dollars ($100.00), whichever.& less. Prepayment in:full shall be credited on the date received.
<br />Partial prepayment, other than on an installment due date, need not becredited until the next following install -
<br />[Pent due date or thirty days after such prepayment, whichever is Mier.
<br />2. Together with, and in adding to, ft.i nonthly payments of principa►1 a� ?i��ttiest payable untkr 1 'firms
<br />of the note Secured hereby, M"Wio.wilt pay: -tee Mortgagee, as trustee, ( t3 ;vx, ns of this_ trtnat as hd fter
<br />SOW) on the first day of each month until', isid note is fully paid::
<br />(o) A sum equal to the ground rata. t if any, next due, plus the tJi m etMii that will ntrirf!became due and
<br />payable on policies of fu-9 and''other hazard insurance covering the mortgaged property. plus taxes
<br />and assessments next da a co,the mortgaged property (all as estimated by the Mortgagee, and of which
<br />the Mortgagor is ttceriedpka all sums already paid therefor divided by the number of months to
<br />elapse before eat mendl.piior to the date when such ground rents, premiums, taxes and assessmetts
<br />will become d0li uWat, mach sums to be held by Mortgagee in trust to pay said ground rents, prettihms,
<br />taxes and spetaph attadtlanenta.
<br />(b) The aggregate of the ashounts payable pursuant to subparagraph (a) and those payable on the note
<br />secured hereby. shall be paid in a single payment each month. to be applied to the following items
<br />in the order stated:
<br />(t) ground rents. taxes, assessments. fire and other hazard insurance premiums;
<br />(iq interest on the note secured, hereby; and
<br />(ill) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate maitalil;± payment shall, unless made gdod by
<br />the Mortgagor prior to the due date of the next such paatuiett?; constitute an event of defaul «. under
<br />this mortgage. At h#al.Tagee's option, Mortgagor will pay ;L, "late c,(tasaeit not exceeding €nur per
<br />centum (4%) of any %nitument when Paid more than fifteen (15) difvusifter the due date thereof to
<br />cover the extra expense hivolved in handling delinquent payments, but such "late charge" shall not
<br />be payable out of the proceeds of any sale made to satisfy the indebtedness secured hereby, unless
<br />such proceeds we sufficient to discharge the entire indebtedness and all proper costs and expenses
<br />mined thereby.
<br />3. If tiar.total of the paymentai anade by the Mortgagor under (a) of paragraph 2 preceding shall exceed the
<br />i W'Dl utt of paymgtts nctuaUy trrade by the NOttgagee, as trustee, for- ground rents, taxes and assessments or
<br />ipr<tuanae premiums, as the case may be. such excess shall be credited bye -the Mortgagee on subsequent payments
<br />to be aaade by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to Mort-
<br />Pga- If, howtver+ such monthly payments shall not be sufficient to pay such items when the same shall become
<br />due cad payable, thew tht Mortgagor shall pay to tie Mortgagee, as trustee, any amount necessary to make up
<br />the deficiency within thirty (30) days after written notice from the Mortgagee stating the amount ofthe defielen-
<br />cy, which notice may beegiven by mail. If at anytime the Mortgagor shall tender to the Mortgagee. in accordance
<br />with the pcovisiotu of the time secured hereby, full payment of the entire indebtedness represented thereby, the
<br />Mortgagee, as trustee. shall, in computing the amount of such indebtedness, credit to the account of the Mort -
<br />1W IMY credit balance accumutated under the provisions of (o) of paragraph 2 hereof. if there shall be a default
<br />under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br />Mortgasee acquires the property otherwise after default, the Mortgagee. as trustee, shall apply. at the time of
<br />�« %•` sue ' piv',ccdiugs of tai the time the property is otherwise acquired, the amount then re-
<br />maining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the interest accrued and un-
<br />PW and the bsWice to the principal then remainins unpaid on said note.
<br />4: The tier of this itstrulftnt shall remain in full force and effect during any postponement or extension
<br />Of the tittle of paY►sent of the ittdebtedrress or any put thereof secured hereby.
<br />S. Me /she will pry all ground rents, taxes. assessments. water rates, and lather governmental or municilml
<br />charges. hoes, atsriipersitions. IeWled sport said T7rCTriitCS �ltltl that hC '5he will Gas all taRCS levlcd Urh[1ti this nie�3 t-
<br />gale. (►r the debt secured thereby, togtther with any other taxes or assessments whwh nim be tc,.icd i+nkfer t►�e
<br />laves of :vebtast<ti itlaiRct t!)r tiic�rtgA&w. or the legal hrrldtr of said prin.ipat cute. (fn :t. cautrt of tMti indebteatnCsti.
<br />rtcep1 when payinent for al -t sue? items tr;s5 therrtofote been made under4a) of varagrarb 2 lizicof. and tae: acre
<br />sail twomptly detiaer the oftitial rcv,`J is tPeref(Sr to the Mortlsget. In default thcrc+af ihr ,%7ongjgcc r� sy t^ 3ti
<br />i he same.
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