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<br />$9 = 105307
<br />Mrrowee noel L4tt w cove a.ttt anal am as bs8awn:
<br />1. That Sorrowet will pay the indtbkdneaa. as hereinbefm
<br />provided. PtivilW is reserved to pay the debt in whole or in part on
<br />any itntalhncrst due date.
<br />of }riadw nand interest payable wader the tams. of the note secured
<br />M!dsy. the Borrower will pay to the LAWN. oa the fast day of each
<br />WANIN until the said note es fully paid, the folbwing sums:
<br />(a) A suns equal to the ground rents, if any, next due. plus the
<br />Pmrmivaa that will next become due and payable on policies of fire
<br />and other hazard insurance cowriapf the property. plus taxes and
<br />aatNumm next due os the property;(Om mubm rLly McLenkr)
<br />icon aU suats Acedy paid theirdor divided by the number of moths
<br />to a spat: before one (1) month prior to the date when such ground
<br />assts, premivm taxes and asseur cents will become deliquent. such
<br />stuns to be halal by Lender in trust to pay said ground rents,
<br />premiums. taxes and special assessrneoft and
<br />(b) All payments mentioned in the preceding subsection of this
<br />paragraph and ap payments to be evade under the note 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 />applied by the Lender wt)w I tM awing items in the order see forth:
<br />(1) ground Tents, lax %,useumnu. fire and other hazard insur-
<br />ance premiums;
<br />(11) interest on the note secured "by.
<br />(111) amortization of the principal of said note; and
<br />(IV) late charges.
<br />Any deficiency in the amount of such aggregate monthly payment
<br />"I. unless made good by the &Ymswer prior to the due date of the
<br />Mgt Stich paymmt. eomtitute an event of default under this
<br />mortgage. The lender may collect a "late charge" not to exceed four
<br />cents (49) for each dollar (SI) of cub payment more than fifteen
<br />(I5) days in arrests to cover the mr expense involved in handling
<br />ddk gvms payments.
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<br />3. Thu if the total of the payments made by rJlit.Borrower under
<br />(a) of paragraph 2 prmiding shall exceed the amair.t of payments
<br />actually made by t,z. Under for ground rents. taxo and amesiuients
<br />or insurance premiatni, as the case may be, such excess, if the loan is
<br />current, at the option of the Borrower. sbail be credited by the
<br />lender on subitegt o-rAyments to be made by the Borrower, or
<br />refunded to the 8carri;strtrr. It, however. the monthly payments made
<br />by the Borrower :uhlrir (a) of paragraph 2 preceding shall not be
<br />sufficient to pay WiMila rents. taxes and assessments or insurance.
<br />premiviivl >'as the case may be. when the saute shall become dun, ind
<br />payable"'. hen the Borrower shall pay to the lender any amomu,
<br />necessary to make up the deficiency. on or onto**, the date when
<br />payment of such ground rents. taxes, assessments, or insurance
<br />premium,. shall be due. If at any time the Borrower shall tender to
<br />the Lender. in accordance with the provisions of the note secured
<br />hereby, full payment of the entire indebtedsm represented thereby.
<br />the (.ender shall in computing the amount of such indebtedness.
<br />credit to the sewunt 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 d:fauh under any of the provisions of this
<br />iastfownt resWting in a public sale of the premises coffered hereby.
<br />or if the Itmkt acgwres the property otherwise after default, the
<br />Lender shall apply, at the time of the comrrencensrnt d such
<br />prnaedinga, Or at the tiff* 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 now
<br />4. That the Borrower will pay ground rent% taxm assessments.
<br />water rates, and other gon"messW or musiWel rdtnrples. FkM or
<br />impositions, for which provision has not been aide her�einbefbtr,
<br />and in default thereof the (render may fay the sm+C and Wt the
<br />Borrower will promptly deliver the official receipts therefor to the
<br />!.ender_
<br />5. The Borrower will pay all taxes which may be levied Wort the
<br />Lenders interest in said real estate and improvements, and wbicch
<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 oaly -to the ,
<br />extent that such will not maize this luart usurious), but excluding any
<br />income tax, State or Federal, imposed on Lender. and wM Or the
<br />official receipt showing such payment with the leader. Upare
<br />violation of this undertairing, or if the Borrower is prsliftnd by any
<br />law now or hereafter existing from paying the whole or any-portion
<br />of the afercmid uxes, or upon the rendering of any court decree
<br />prohibiting the payment by the Borrower of naysKb taxes, or if
<br />such law or decree provides that any amount so paid by the .
<br />Sorrow!:* shaft be credited on. the debt, the Lender shall; tone -the
<br />right t6.give ninety days written.ortice to the owner of the premises,
<br />requiri ng the payment of the ikk f s#b noke be given, the acid
<br />debt shall becema xhm,payable ind• cnllectiW.0 the expiration of
<br />said ninety days: ?
<br />6. That should the Bias resw; foil to pay any sum or keep any
<br />covenant prrvided..iur in this mstttiment, then the Lender. at its
<br />option. may pay ar, perform the same, and alt expenditures so made
<br />shall be added to the principal sum owing on the said note, shall
<br />be secured hereby. and shall tear interest at the rate set forth in the
<br />said note, until paid.
<br />7. That the Brr tu*er hereby assigns, transfers and sets over to the
<br />Lender. to be spoifi(ttoward the payment of the note and all sums
<br />secured hereby ii ti= ' a default in the perforraanee of any of the
<br />terms and conditions pf this- #ttiwment or the said note, all the rents,
<br />revenues and income to be deg#ice from the said premises Oming
<br />such time as the indebtedttewt siAM remain unpaid. and theUmder
<br />shall have power tai A; point any agent or agents it may desire for the
<br />purpose of repiy,nn. ;;:wid premises and of renting the some and
<br />collecting the and income, and it may pay out of said
<br />incontt ul cx �" of repaifwg; ?:aid premises and necessary
<br />cu mr�:u ns d 1 ilmnses irrrirmd in renting and managing the
<br />same and of ccil astinp rentali,l*iefrom; the balance remaining. if
<br />any, to be appl:i f$ toward the i;�,�harge of said indebtedness.
<br />8. That the Borrower wiS13:u.V the improvements now etiisting or
<br />hereafter erected on the property. insured as may be regwxals from
<br />time to time by tlw fender against loss by fire and other hai.".
<br />casualties and contingencies in such amounts and for such pe: rods as
<br />may he required by the Lender and will pay promptly. when, due.
<br />any premiums on such insurance. provision for payment of which
<br />has not been made hereinb-efore. All insurance shalt be carried in
<br />companies approved by the Lender and the policies and renewals
<br />thereof shall be held by the !.ender and have attached thereto loss
<br />payable clauses in favur of and in form acceptable to the lender. In
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