|
(a) A stank ogwl to the ground scats. if any. next due} plus due premium dtu.witl next breasts due and payable os
<br />potholes of fire and outer bastard ftnwance ooveriag d o property, phu taxes and assessments next due on the property (all
<br />10,W rmmwd by bile Lemkr) lets all summa already paid thtxefm divided by the number of months to elapse before one (1)
<br />40 Monk penal to At diAe mben raKfi &road rents. prenuuoss. WAS std aucu menus will become delirbpeat, such fauns to
<br />be bdd'by t:eatder,aas tartest to pay sand ground rafts, premiums, taxes and special acaessmen<s; ad
<br />(b) .All pff"Re s aper 6brad in the preceding subsection of this paragraph and all payments to be made under _the note
<br />aechtrei beneby dha ! be idded.togriluer. sad the aggregate amohttrs thereof shall be paid by the Borrower each`tnondt in a
<br />pay„nertc to be aRQW by the !.ender to the following items in the order set forth:
<br />(1) grouse& react. taxes. asiessmemr fire and ,other hazard iacurance premiums: ^— - --
<br />-� ... -(.0/ 1 atit.thi NO 690110 hereby. and
<br />i
<br />t , (pi) ,asnortiratioti of die prtncnpd of said note.
<br />Any ddicieacy in the =vm of sacb aggregate monthly payment shall, unless made good by the Borrower prior to
<br /># the done dale of the next srrch pit) 'a nstutslte.aa evert of default wider this mortgage. The Lender may collect a --late
<br />charge.. sot w exceed four eel"f W ttyr each dollar (Si) of each paynhs�eutt mare than fifteen (is) days is arrears to cover
<br />the extra expesae involver, iio � ddingaedr/.,payaants,
<br />I. iiiM if the taut of the pays apps made by the Borrowicc'rJghdet (a) of paragraph Z preceding shall exceed tfiiiaimunt
<br />of paytpaKttitt a>ceWly made by the i for gmwj?eid rents, t and assessments or insurance premium, as their," may
<br />be. such excess. if flue lotto, is current. at the aptia 44W Borrower, shall be credited by the Lender ash s tteiZsnrt(Ipryttdertts
<br />to be rnade by the Blorr, wmr. or refuri*4 to the Drawer. If, however, the monthly payments made W, stile Borrower under
<br />(a). of parasraph 2 prd� shall i"IS; sutitcidnt to pay ground rents. taxes and assessments or iGiactasioe
<br />pt'alw'ens,.as
<br />the case may be, when the cam; shig Rime dote and payable. then the Borrower shatlf pay to the Lender any amount rieoessaty
<br />to snake up the defer'. m or before Zlre date when payment of such gtnund}�ts. taxes. assessmpts, or inwrance premiums,
<br />shall be due. It at anty, i re the Borrower shall taiderto the Lender. in awaielancce with the provisions of the note secured
<br />hereby, full ptaytneast Vt; entire Wdeytedriess represented thereby. rrty. the Leiter shall, in computing the amount of .srlclt in-
<br />debtedness• cralq toff die recount otr.11 r Botniwer any balance vxoining in the funds a4'M' I&ted under the prvv vi_0 of
<br />(a) of ptratim 2 hereof. if there shall be a default under any of the provisions of this'6m'o bent resulting in a pyfiilyi sale
<br />of the premises covered hereby, or if the Lender:,sagtires the property otherwise 2fterdt4ltault, the Lit er shall
<br />the tinne of the commencement of such proceeclikj .or at the time the prop--*. is otherwise acquiredL ti5e balance ti�uiYt
<br />Vaining in thr funds accumulated under (a) of pa4uph Z preceding. as a crews igainst Ac+,�mount otprineipal then remain-
<br />ing ur_paieJ under said note_
<br />4. That the Borrower will pay ground rents, taxes, assessments. water nags„ and other governmental or municipal charges,
<br />fin. -s, or impositims,.for,which provision has not been made hereinbefore.'arid in default thereof the Lender may pay the
<br />sauce; and that the Borrower will promptly deliver the official receipts therefor to the Lender.
<br />S. The Borrower will pay all taxes which may be levied upon the Lender's interest in said real estate and. improvements,
<br />2nd which [tray !1110 levied upon this instrument or the debt secured haft (bill only to the extent thatysxch is toot prohibited
<br />by law and only to the extent that such will not qwL: this loan usurious). 6hA excluding any income tax, State or Federal,
<br />imposed on lender. and will file the official recorn showing such payment %-.&I the Lender. Upon violation of this uedertak-
<br />ing. or if the Borrower is prohibited by any law ri;* or hereafter existing from-paying the ikbole or any portion of the aforesaid
<br />taxes, or upon the rendering of any costiYcdrtx:iw i;r Aibiting the payment by are Borrowerof any such taxes. or is such law
<br />pr decree provides that any amount sa *4 6., ithr:Sorrower shall be ereditk4wo the debt, the Ltn&r shall have the right
<br />to give ninety days' written notice to the ',%, •,►1r of the premises. requiring the payment of the debt. if such notice be given,
<br />the said deft shall become due, pay*.It and collectible at the expriation of said ninety days.
<br />6. That should the Borrower fail to pay any sum or keep any covenant provided for in this instrument, then the tender,
<br />at its r,poion, may pay or perform the same, and affil expenditures so made shall be added to the principal sum owing on the
<br />above note, shall be wcurttrf' hereby, and shall beir interest at the rate set forth in the said note, until paid.
<br />f. , !qu ,ft Borrower hereby ,;h4i.gar;. transfers and sets over to the Lender, to be applied toward the payment of the-
<br />notcand all sums secured hereby in i aNu of a default. in. the performance of any of the terms and conditions of this instrument
<br />or the said note. all the rfnrs, revenues and income "to be derived from W. Suitt premises during such time as the indebtedness
<br />-Aall remain unpaid, ;u4s4ut fender slwi i have power to appoint any ag ivii i;Ar,igents it may desire for the purpose of tgMiring
<br />said prentigm Arid of reiiing the samtte:.4nd collecting the rents. revenues and income, and it may pay out of saki itmomes
<br />All expea ssirof reptiri##:said premises and necessary commissions and expenses incurred in renting and twuhagir* the same
<br />and of collecting rmuly,_i'fierefrom; the balance remaining. if any. to be applied toward the discharge of said irAebaedness.
<br />A. Thrt the Borrower will tee tltc improvements now existing or hereafter erected on the property, insut:'d as may
<br />be required frisra tins to time by ilk Lender against loss by fire and outer hazards, casualties and contingencies in such
<br />Aln(mMs and for %wh periods as miq be required fey the lender and will pay promptly. when due. any premiums, on such
<br />insurance provi,sicm for ;payment of which has not been made Ihereinbefore. All insurance shall be carried in companies ap•
<br />y pntwtd by the Lender and Ow }ho6cies and renewals thereof shall be held by the Lender and have attached thereto tens!, payable
<br />clrtsce in fwt�u r+f err .ssi Lilt L:e;~r ,! to the l carer. In c„u.;.i Of loss I;orrouei Q's gitc i n ywdiate notice fr}; mail to
<br />the ttrder.*'bu n uy.nnate ptr*4ofkA6 -,'if not made promptly by Burrower. and each insurance company c4wwcfnedi is hereby
<br />atttbcxized sed direaod to nu ite payment for such loss directly to the Lender instead of to the Borrower and tht Lender
<br />rriatly, sad the inturatK* proceeds. or any part thereof, may be applied by the Under at its optics[ either to d* reduction[
<br />Of the andeMedness hereby secured or to the restoration or repair of the property dwriaged. In event of forecloss:re of this
<br />instrwnent pr otki transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby. ail right,
<br />title VW ir►trtest of the 8csrnwcr in and to any insurance policies then in force shall pass to the purchaser or grantee.
<br />9. That as 64111 ►nrdl and c+dlateral wurety fen the payment of the note dexrrbed, arot all sump to become due under
<br />this enstrunwtA. the 1 mAnwer hereby asvgns rig the I erkfcr all rtofts. revenue ro)ahic,, right, anel Lvotfits accruing till
<br />the Bxrovrcr tandtcr alny and all wl and gif-; cm avid pret1w oi, with the right to ercetti and re-,r1)x fern tfic carne and
<br />I
<br />3.
<br />f ,
<br />
|