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<br /> � ., . _ `� gg-�. �85�09 � .: � �
<br /> (a} �sum oqw!to tNe grrwnd rents,ef any. next dur.plus the premiums that wili next becori�E�e and payabk on �
<br /> policies of firr and adter i�aurd ie�urinee covering the property.plus taxes and zssassments next due oh�the P��Y fait
<br /> as esd»�at�d by rlre Lrralir)less ati sums atready piid therefar dividcd Dy the namber of rtwrnhs co eiapse lxfore o�e(1)
<br /> rnoa�th ptior to tt�e date when such ground re�s,premiums,�tsxes and assessmcnts wi116ecome delinquent,snch sums to
<br /> E�held by Lender in Uvst to pay said gr�wnd nnts.premiums.uxes and special assessments;and
<br /> ' ;:a`=:'�t�l !�L�u�it�ents nze�-�d in ttre}rrtceding subsecdon of this�taph and all payments to t+e m�dc nnder the nota
<br /> :�+�er����;sti�D be�dded togcL;er.aai the aggn�te�mouat thereof sh�l!bc paid by the Borrower exh month in�
<br /> - . si.�yic Fryrt�enE ta be�Qlis�hy the Lender w the folbwitrg items in the ard�r set forth:
<br /> . (� Sraand nats,t3xcs: uszssmrnts,firc and�th�rhazard insuroace premiums; ' . .
<br /> ([l� iuuerest on the nc►te securod hereby: �nd :
<br /> (Ill) unortir�tion of the Qrincip+l of s�id nuce, _
<br /> Any defiriency in the�nxwnt of such aggregace monthty payn�ent shall, unless n�dc good by the Borrowcr prar to
<br /> the duc d�te af the�next such p�yrn�nt,constitutt an event uf efefaufs under this mortgagr. The Lender may��oltset a "tate
<br /> chuge"not w excced four cent�(4C)f�r caeh dollar(Sl)�f each payment more than fifrcen(i5)days in.arrears to cover
<br /> the extra expenst involved in t�andling delinquent p�ymcnts. . � � �
<br /> 3. TTi�aat if�he totat of the payments made by the Borrower under(a)of paragraph 2�te�aeding shall ex�ead Qre unount
<br /> of payments actwalty it�ade by the Irender for ground rcnts, taxes artd assesscnents or insera,a��e premiums,as the case may
<br /> be.snch eacess,if the loan is currertt,at the option of the Borrower.shall be credited by the€.ender on subsequaqt payments .
<br /> to be snade by the Sorrower.ar refunded co the Bonower.If,however.the monthly paymertts made by the Borrower under
<br /> (a}of paragra�h�2 pseceding shall aa�e s�fficiene to pay grouscd rents, taxes and assessmeet�.s or insurance pnmiums.as
<br /> the qse may b�,�+►#�en the same shaJl be►.�due and payabte,then t�Borrower shall pay to de�I�znder any amount neae.csary
<br /> � , ta rz�up the deficiency.�r�:��'�+efoce c.'�date when payment of such ground r+en�,¢axes.ss.us�nents.or e��.zce premiums �
<br /> � shai3 be due.If at any.ti�o�c t�l�orrawet shal!tender to the Lender,in accordar�e K�..�the provjsions of tlse nQte secured � �
<br /> hereby,fu11 payment oi the entire i�ia�xiacss represented t6ereby. the Lenckr s�ral), iQ co�p:;ting the�rxwnt of such in- �
<br /> debttdness,crodit to the account af 2'rr�n�Y*,;rower any balance r:m.aining ia the fw�ds acca�m�tated under the provisions of � '
<br /> � (a�:�f p:v�graph 2 hereof.If chere s�:T?j�;a defautc under any of the provisions af this instniment resu�:i.�in a pnbtic sate '
<br /> cN"-ck�e premises covered her�v;oi ii z`.x�Lender arquires the property otl�erwisc after defauit;the i.er�c shall apply,at -;.:
<br /> the time of the commen�em.r�e c�.`s�.�,,�*,occedin�s,ar at the time thc property is othetwise acyuired,thc balance then re- ° _
<br /> maining in the fiands accumu�a:�c�ti�:e�,a2 of paragraph 2 prece�in�,as a credit against the�uant�f principal then e�mr•ain-
<br /> ' ' , ir�g unpaid under said note. '
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<br /> � 4. That the Borrower x's�if pay�ound rents.taxes,assessments,water rates.,�ti�ather p,ovemmental or municipal charges.
<br /> fines.or impositions.for�i�-�a�,�c��-:>ion has not been made hereinbcfore,a,�,u.ia defa:�:r.�±xreof the Lender may�b the
<br /> same:and that the Borrowcr w��p^'�tly deliver the off cial receipts therefor to the:.r�aer.
<br /> 5. �'he$orrower will�ak;a;��taxes which may bc levied upon the Lcnder's interest in said real estate a�.d i�nprovcments.
<br /> and which may be ievied c{na�r�is instrument or the debt secured hereby(but only to the extent that suoh is not prohibited ,
<br /> by taw and oniy to the exaes�t that sc�c�wiU not makc this loan usuriovs).but cxcluding�,.�.;�.income tau,State or Fe�3e�al,
<br /> impased on lx�w�ec.and wi!!file the�.`fec�ia�receipt showing such paymer�t with the Lendec.S�pon violation of this un�a`t�k- . :
<br /> ing.or if ihe Borrower is g�:fi:�bit��r sny law now or herrafter existing from�r�.c�i��the�ia;;�C or any portion af the afari�id
<br /> ; taxes,or upon thc render,�g�f a�}�-�rt decree psohibiting the payment by t!xs 13arrow�r of any such taxes.or is such law �
<br /> �' or decree provides that any amauat�:a rpaid by the Borrower shall be creditec��:�s thc�eL�,the Lender shall have the right i'� -
<br /> ; to give ninety days'wriiten natice t��rt�'N:a�wner of the premi�es. requiring the payr.:eat s�:'t:h'e debt. If such notice be given, �
<br /> the said debt tihafl become�r1e, payabie and callectible at the expriation of said ri:ety days.
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<br /> 6. That sbould the Bcr�ower fail to pay any sum e�r keep any cavenant pravicA:d fnr ir this instrument.then the Lender, ' �
<br /> • at its option,niay pay or perform the same,and all cxpcnditures so madc shall bc added to.hc principal sum owing an the '-
<br /> � a6ove note, sha11 be secured hereby. and shall bear interest at tttc rate set forih in Ihe�id note. until paid.
<br /> 'I. That the Borrawer hereby assigns.trantiferti anci sets��ver tu the Lendcr, tu be applied toward the payment of the
<br /> --__ note and all sums secured hereby in rase of a default in the performartce af any of thc terms and cond'stions of this instrumcnt
<br /> or the said note.all the rents.revenues a�xl income ui be derived fa�n1 the said premiscs during such time as the indebtedness
<br /> shall retruin unpaid.and the Lencler shall havc p��wcr to appoint uny agcnt ar agcnts it m;ey dcsire fur the put�wse of r�pairing
<br /> . said premises and of renting the same and calleciing the rents. revenues and incomc. and it may pay out of said incomes
<br /> alt expenses of repairing said pn:mises and necessary rommissions and expense�inrurred in renting and managing the same
<br /> and of cullecting rent•rls therefrom:the bAlance remuining, if any,to bc applicd toward the disrharge uf said indebtcdness.
<br /> � 8. Ttt�t�ii��3nrcowcr will keep the impmvcments nuw cxisting or hereafter erected on the property. insurcd a�may � - -�-
<br /> bc reyuired.�rct�:-cime tn Gime by.ti��:I,endcr against Inss by fire and nther hazards, casualties and eontingetteies in such - I
<br /> ' � i„'� amounts and,foc suLh�ricxl:j�;i:i;�w�'(ac required by thc Lendet and will pay promplly.when duc.any prcmiums on such I
<br /> .I;:. � its:sat�sst^��e�li�io:�€a:.�}�.et�uf.•.�'�I�t�lw;:iu�t l��te ntasle ltereenhef�te.1E!! 'sn�sr��ae:e sh��lE tse waie:t i�ct�m�t:snic;:s��- _ , ;
<br />— i proved by the Lender and the policirs�t.r,i renewals thcreUf shall bc held by the�.endrr and have attachecf theretu loss payable ,
<br /> � clauses in favor of and in fnrm acceptable to thc Lender. tn event nf lt�ss Bnrrc�wer will give immedinte notice by mail to �
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<br /> � � the Lender.who may make pro4f of lnss if nm made pramptly by Bormwer.and carh insurance company concemed is hereby
<br /> , L authorizal and directed ta make payment for such loss dircc0y tv thc l.ender inctead oi'u�the&�rruwer aM1 the l.ender
<br /> , jnintly.and the insuranes;pr�xeecls. or dny part thercx�f, nu�y be applied by the tAnder at rts uption rither ta the reduction
<br /> : of thc indcbtedncss hercby Sccurcd�rr tu qhe resturatian�ir rcpair of Uie property damagcd. In cvent uf fiire�alosur�uf this
<br /> � intiiruntrm�rr�,thrr tran5fcr nf�ittc tu the murtgagccl property in chtingu�tihmcm of thc indchrcdttc.ti ucured hrreby,all right, '
<br /> �i1le and interest�yi�hr &�rniwer in and tu any insuranre��liric��hen in fe�rrr�hall pa�s t�:ths: purrha�cr��r grattter. �,
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<br /> 4. 'IMat s.�:udditi��n:el and a►Iluccral,ecuri�y f„r�tic p;�y���c��t of thc aotc dr+rribc�. a�ad ull�u��as to bcr«�tTC Juc uudcr ...
<br /> �hiti instrument. �hc Ekirr��wrn c�rchy atisigns tu thc f.�u�icr .�II prufity, revcnucti, r��yaltics,ri�;htti:md tKUCfiI�arcruin�;t��
<br /> _ Qle��rru�tict under any and all uil�nd ga�ttascy un tiaul prcmiscs. wid►the nkh� to rc.civc und reccipt ti�r thc�mc and �
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