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<br /> • :. 89-- 10�06�
<br /> � 76e Mort4i�or 111 o�der mo�e tu11y to protect IAe �ecuNl�� ot thr properey otherH-isc uRet drfai�l�, ths �larFgagee shat!a�+pl�,
<br /> ; . tl�b Mott4a�e.�{rees: at the time af the rommencemcnt of sueh pnktedmas, or a1 the
<br /> t�mr the prope�ty is otherwi�e acquired, the b�lance ihen �emain•
<br /> 1. That he Hil1 pay the mdebtedne,., a� herrmbrFnre prakeded. ing �n the funds accumutated unQer(a)of p�ragr�ph 2 preadin�,
<br /> Pri�ik�e is reseneQ Io pay th� debt in ��halr or in pan �m an} as a cradit a�ainst the�mount o(pcincipat then remaining uopaid
<br /> ins�aliment due dace. unde� said note.
<br /> : 2. That. tojether vvith.and in addition to. the monthty 4. That the Mort�agor wifi pay �round rents, taxe9.
<br /> ' payments of p�incipal and•interest payabie under the terms uf�he assessments, Water rates, and othec govnrnment�l or municipal
<br /> ! nnte secured Iv:reby, the Mortp�or xip pay to the Mortgagee, charges, Pines, or impositiunc, P�r whish pro��isic�n has not Crrn
<br /> on :he fiist d�y of each month un�il the said note is fully paid, made hercinbefore, and in default the�tof the Martgagee may
<br /> the Poilowin�sums: pay the same; and that the Mon�agar will promptly delivec th�
<br /> (s) A sum equal to the oraund rents. if any, next due, plus the official receipts therefor to the Mortga�ee.
<br /> premiums th�t will next become due�nd payable on policies af �
<br /> firo and other hazard insurance covering the mortgaged p�operty, 5. The M1fortgagor will pay all taxes which inay be levied upon
<br /> � plus taxa and usessmtnts next due on the mortgaged property the 1�longagec's interest in said real estate and improvemenl9, •
<br /> ` (all as e.stimated by rhe MorrRagee)tess al) sums already paid and which may be le��ied upon this mortgage or the debt secured
<br /> � therefor dlvided by the number of manths to etapse hePore�ne hereby(but only to the extent that such is not prohibited by law
<br /> ' (1)month prior to the date when such graund rents, �,remiu�s, �d only to thc extent that such will n�t malcc this !o�
<br /> !' taxes and assessments will become delinquent. such sums to t�e usurious), but excluding any income tax, State or Federal. im-
<br /> h¢Id by Mortsa=ee in trust to pay said ground rents. premiums, Ppsed on Mortgagee. and will file the ofrcial receipt showing
<br /> J taxes and special assessments; and such payment with the Mortgagee. Upon violation af this under-
<br /> � taking, or if the�?�rtgagor is prohibited by any law now or
<br /> ; (b) All payments mentioned in the preceding subsection hereafter existing fram paying the whole or any portion oP the
<br /> I of this paraarxph and al) payments to ix made under the note aforesaid taxes, or upon the rendering of any court decree pro-
<br /> secured hereby shall tre added together, and the aggregate amount hibiiing the payment by the Mortgagor of any such taxes, or if
<br /> thereof sdall be paid by the Mortgagor eaeh month in a single such law ot decree provides that any amount so paid by the
<br /> j payment to be applied by the Mungagee to the following items in Mortgagor shall be credited on the mortgage debt. the Morigagee
<br /> � thr order set forth: shall have the righc to give ninety days' wriiten notice to the
<br /> � !!) ground rents, taxes,asse�srurnts, firc a�:�!uther hazard oW ner oC tht mortgagcd pre;ttises. requiring the payment of the
<br /> ; insu�anae pretniums: mortSage debt. (f such nutice be gi�•en, the said debt sha11 ;
<br /> ; becar.ee due, payable and coltectihle at the expiration of said '
<br /> ; (II) interest on the note secuced hereby; ninety days. '�
<br /> (UI) amortization of the prancipai of said note;and ����
<br /> ' 6. That sh�utd¢he Moregagor fai)to pay any sum or keep any
<br /> (IV) 13tt ChSig�s. CPVtila�t Oro.cided Por in thic�nnreaap.��ihen t!:e:L�:srsgag;.�,at
<br /> � Any drficienry in the amoun[ of such aggrcgate monthly pay- �«flF:io:, may pay or perfarm the same, and all expenditures so �
<br /> ; ment shall, unless made goad by the Mortg�gor prior to the due made sha:!be added to the principal sum owing an the above
<br /> ; date of the next such payment. constitute an event of default• note, shatl be secuQed hereby, and shall bear intcrest at the rate
<br /> under this mortgage. The Mortgagee may collect a "late charge"` set forth in ttee saic!aote, until paid.
<br /> � not to exceed four ccnts(4�)for each dollar(S11 of each pay- � •
<br /> ment more than fiftan (15)days in arrears to ca�er the extra ex• • �ar the �torcgagor hereby assigns, transfers and sets o�•er
<br /> ' pense involved in handting delinquent payments: to the�fortgagee, to be applied toward the payment•of che note
<br /> , and all sums secure�hereby in case of a detault in the perfor-
<br /> • 3. That if the total of the paymeascs made by the tilortgagor mance of any of ct�e terms and conditions of this mortgage or the
<br /> ; under (a)of puagraph 2 precediag shall exceed the amount of ��d note, all the res�ts, revenues and income to be derived from
<br /> I payments actually made 6y the Mortgagee for ground rents, taxes �he mortgaged premi�es during such time as the mortgage ia-
<br /> i and assessmrnts or inse�.sance premiums, as tf�e case may be,such debtedness shall remain unpaid, and the Mortgagee shait t►avo
<br /> � excess. if the loan is current,at the option of the!4tortgagor, PoW�r to appoint any agent or agents it may desire for the pur-
<br /> shall be credited by the Mongagec aa subseque�¢Ra}ments ta be Posc of repairing said premises and of renting the same and col-
<br /> t m�dt by the Mortgagor. or refunded co the :4toct lecting the rents, reti�enues and income, and it may pay out of �
<br /> � gagor. �f, said incomes all expenses of repairing said premises and necessary �'�
<br /> 1 however. the monthly payments made by the Iu�cs�gagor under �
<br /> commissions and expenses incurred in rentin and mana m the `'
<br /> ! (a)of puagraph 2 preceding shall not be suffic'rent to pay S g" g —
<br /> ground rents, taxes and asse;sments or insurance premiums,as �me and af coUecting rentats aherefrom; the balanet remaining, � —
<br /> the case may be. when the same shall become due and payable. �f any, to tre apptied toward the discharge of said mortgage ,
<br /> thrn the Mortgagor shall pay to the Mortgaga any amount �rtdebtedness. .
<br /> ; necessary to make up the deficiency. on or before the date when
<br /> payment of such taxes, ground rents. assessments,or insurance 8• That the Mortgagor will keep the improvements noK ex..
<br /> � premiwns shall be due. Zf at any time ehe Mortgagor shall tendrr �sting ar hereafter erceted on thr mortgaged property,insured as
<br /> � to the Mortgagee, in a��cordance with the provisions of the note may be required from timc to time by the Mor[gagee against loss
<br /> seeured hereby. full payrnent of the entire indebtedness by fire and other ha�ards,casualties and contingencies in such
<br /> • represented,thereby, tht Mortgagee slir3l, in computing the �ounes and for sss�4►periods as may be rcaa�ired by the Rfor-
<br /> sn►onat a€sach indebtedness,cre�fic ro the acceunt of the l��en- �Bagre and wiii pay promptiy, a•hrn due. any premiums on such
<br /> ; ga�or any balance remaFning in thr funds accuraula�ed under the �nsurance provis�on for paymcne of which has not bten made
<br /> provisions of(a)paragraph 2 hereof. lf there sh�C be a default hereinbefore. All insurance sha:f be carried in companies approv-
<br /> . under any of ihe prar�is:flns of this �ongage rautting in a public ed by the Mortgagee and the poliries and renewals thereof shall
<br /> sale of[he premises covered here6�•�Qr if the Mortgagee acquires be hetd by the Mortgagee and have attached thereto loss payable
<br /> Pafle 2 0}4 HU0�92113M•1 ---- - ---
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