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<br />iarmwer arced Leader eavew it tied agree as foNaws: or if the Leader acquires the property otherwise after dciaull. the
<br />Icader shall apply, at the time of the commencement of such
<br />j 1.1W Nomwer will pay the itsdebtednm as kmitbefore proccedings, or at the time the property is otherwise acquired. the
<br />provided. Frivii4v is reserved to pay the debt in whole or in pan on balance then remaining in the funds accumulated under (a) of
<br />any iroWlaseru due date. paragraph 2 preceding. as a credit against the amount of principal
<br />then remaining unpaid under said caste
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<br />?' T'haL together with_ and in addition to. the monthly pyrnents - of plied* aid imam payW& wader the tetras of the lute sKvmd 4. That the Borrower will pay ground rents, taxes, assessments,
<br />hereby, tint swower wig pay to the t:axw ae the fall day of eacb crater laws, and other governmental or raueicipal charges, (saes, or
<br />son* nabs the slid now is:fnily patid. the following sums: impositiora. for which provision has act been orate kreinbefore,
<br />sod in default thereof the Lender may pay the same: and that the
<br />(a) A sacra cilval to the gt&md rents, if any. next due. plus the
<br />pmoiteaa that will treat bete - due aad payable on policies of fire
<br />anal other bland wAwaitx covenag the property. plus taxes and
<br />waenwas" am doe ON the property (altar esriskstrwdbp 11W Lewder)
<br />ksa all3v a aheady paid therefor dined by the number of months
<br />to ebpe before are (1) Mole prior to the date whelk stack Wound
<br />reviis, pteeaaivaks, taxes and asteurnents will become deliquent, such
<br />sum to be held by Leader in trust to pay said ground rents,
<br />preaeiam taxes and special assenments; and
<br />(b) All payments mmtkwd in the preceding subsection of this
<br />peragnpli aed all payments to be made under the mote secured
<br />hereby shall be added together. and the aggregate amount thereof
<br />shall be paid by the Borrower each month in a single payment to be
<br />apok by the !.ender to the following items in the order set forth:
<br />(1) grotmd rants, taxm assessments- fire and other hazard insur-
<br />aece prentittms;
<br />Mli interest on the note secured hereby;
<br />�hjlp.amortiution of the principal of said note: and
<br />charge-
<br />�rt ?? W- F'io"imcy its 5.tie amount of such aggregate monthly payment
<br />s Wt,- ,trr{teu made good by the Borrower prior to the due date of the
<br />dext;.,Au paymenk constitute an event of default under this
<br />mcr*W. The Lender may collect a "late charge' not to exceed four
<br />cents (44) for each dollar (S 1) of each payment more than fifteen
<br />(1! 5) days in arrears to cover the extra expense involved in handling
<br />delzogvent payments.
<br />,. j9'tat if the total of the payments made by the Baffewcr under
<br />(a) of paragraph 2 preceding shall exceed the amount of pyments
<br />actually made by ft Lender for ground rents, taxes and assessments
<br />or insurance priOWitrm as the case may be, suds excess, if the loan is
<br />curttmt;-at the option of the Bormwer, shalt be credited by the
<br />LAW on subsequent psymer4,16 be nude by the Borrower, or
<br />refunded to the Borrower. if, tic*uvcr. the mimthty payments made
<br />by the Borrower under (a) of parsgiph 2 preceding shall not be
<br />sufficient to pay ground rents, taxes and assessments or insurance
<br />pmerriurns. as the case may be. when the same shall become due and
<br />p*N#*L -, then the Borrower shall Vey to the Lender any amount
<br />noust 4ty to make up the deficiency. on or before the date' When
<br />pa•ywat of such ground rents. taxes, assessments, or insurance
<br />premiums shall be due. If at any time the Borrower shall tender to
<br />the ),ender. in accordance with the provisions of the note secured
<br />heridsy- full payment of the entire indebtedness represented thereby.
<br />tint• f:trtder shall, in computing the amount of such indebtedness.
<br />crrsfksio the account of the Borrower any balance remaining in the
<br />fandsaccumulated under the provisims of (a) of paragraph 2 hereof.
<br />It there shall be a default under any of the pir,vi ions of this
<br />itett'm iment restating in a public uk of the pattt :ses covered hereby.
<br />Borrower will promptly deliver the official receipts therefor to the
<br />Leader.
<br />5. The Borrower will pay all taxes wbkb may be levied upon the
<br />Lender's interest in said real estate and iroprovernen% and which
<br />may be levied upon this instrument or the debt secured hereby (but
<br />only to the extent that such is not prohibited by law and only to the
<br />extent that such will not make this loan usurious). but excluding any
<br />income tax, State or Federal, imposed on Lender, and will file the
<br />official receipt showing such payment with the lender. Upon
<br />violation of this undertaking, or if the Borrower is prohibited by any
<br />law now or hereafter existing from paying the whole or any portion
<br />of the aforesaid tam or upon the rendering of any court decree
<br />prohibiting the payment by tliv Borrower of any such taxes. or if
<br />such taw or de c%-, provides that any amount so paid by the
<br />Borrower shall, be reedited on the debt. the Lender shall have the
<br />right to give n' ity days' written notice to the owner of the premises.
<br />ret1giring the payment of the debt. if such notice be given, the said
<br />Qclif shall bec me due, payable and collectible at the expiration of
<br />sRO'ninety days.
<br />.6. That should the Burrriwer fail to pay any sum or kmyi4*,`:
<br />arvuixnt provided for in ibiS.i"menL,then the Lender,.si ii
<br />oattinar may pay or perform tire tame, and all expenditures i i mzde
<br />shall be added tn•the principal sum owing on the said note. shall
<br />be secured herdsy,.'and shall bear interest at the rate set forth in the .
<br />said note, until lama
<br />1. 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 />wcurrsd Mreby'. it case of a default in the performance of any of the
<br />terms and coadibohs of this instrument ari the said note. all the rent%
<br />tevenues and income to be derived from the said premises during
<br />such time as the indebtedness shall remain unpaid, and the Lender
<br />Otall have power to appoint: city; agent or agents it pray desire for the
<br />purpose of repaiii (( -said Vomitus and of renting the same and
<br />collecting the Franck; .frvenues end income, and it may pay out of said
<br />incomes all exit im of repairing said premises and necessary
<br />commissions and cxpenses incurred in renting and managing the
<br />same and of collecting rentals therefrom; the balance remaining, if
<br />any, ib be applied toward the discharge of said indebtedness. '
<br />8. That the Borrower will keep the imprtsvements now existing or
<br />hereafter erected on the property, insured as may be required from
<br />it me to time by the Lender against loss by fire and other hazards,
<br />casualties and contingencies in such amounts and for such periods as
<br />may he requiresf by the Lender and will pay promptly. when due,
<br />any premiums ran such insurance. provisioet for payment of which
<br />has not been made hereinbefore. All insurance shall be 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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