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<br /> � �� g�..�. �Q�336.
<br /> Ratrower�nd l�nder covenane a+Kf eRree as folbws: ur rf the l.ender a��yu�res the pro�s;:rt�c,thcnti�se sftcr dcfauh,thc
<br /> Lendrr�hall ypply,at�he timr ui�hr commencement of such
<br /> � 1. TAat lii��rowe�will pay thc intlebtc�ncs�,as hereinbefc�re prcxxcdings,iu at thc timc 1he{xot►etiy is otherwise acquind,the
<br /> pravideti. P►ivile�e is re�rved tu pay�he det�t in whale or in�+u�t un t►a1a���e then remaining io the fumis nccumulatetl under fal of
<br /> any insuUmem Jue date. paragraph 2 preccding,as a credit agai��t the amoum of principal
<br /> thcn rcma�oing unpaid u�der wid notc.
<br /> 2.That.tugethc�with,and in addi�ion to,the manthly paymen�c
<br /> oi p�iecip�al�nd intcrcst payable under thc terms oi tAe natc secureli 4.Tha1 the Ba��awer will pay grau�d�ents,taxes,assessmenGt,
<br /> hereby.the Borrawer will pay to the Lender.oa the firsl day af each water�ates.and other gavernmental ar municipal chArges,fines,o�
<br /> manth until lhe said�ate is fully paid,the follawing sums: impasitions,for which provision has not been made hereint►efore,
<br /> and in default thereof the Lcnder may pay the same;and th�t the
<br /> (�)A sum eyual ta Ihe ground renu,if any,next due,plus the Banower will promptly delive�the ofiicial receipts therefor to the
<br /> prcmiums that will next become due and payable an palicies of fire Lende�.
<br /> and other huard insurance cavering the propeny,plus taxes and
<br /> assessme�ts aeat due on the prapeny(a!l os esti�nated by�he�ende�l 5.The Borrower will pay all taxes which mAy he levied upon the
<br /> less all sums alrady paid therefor divided by the numbc�of months Lender's interest in said real estate and improvcments,a�d which
<br /> to elapse bofare one(1)month prior to the date when such ground may be levied upon this instrmnent or the debt secured hereby lbut
<br /> rents.F•emiums,tax�•s snd aaessments will beoome deliquent.such only to the exteat that such is�ot prohibited by law and only to the
<br /> sums to ue held by L�.ader in,;ust to p�y said gronnd tents. extent that such will�ot make this loan usurious),but excluding any
<br /> premiums.taxes and special atsassments;and income tax,State or Fcderal,imposed on Lender,and will Gle the �
<br /> (b)All p�yments mentioned in the preceding subsection of this ��cial receipt showing such payment with the l.endet.Upon
<br /> paagrapb and all payments to be made uader the note secured ��p�ation af this undertaking,ar if thc 8orrower is prohibited by any • ,
<br /> hereby shall be addod together,and the aggregate amount thereof ���'now or hereafter existi�g irom paying the whole or any portion
<br /> shall be paid by the Borrowe�each monih in a single payment to be pf the aforesaid taxes,or upon the rendering of any court decree
<br /> appiied by the Lender to the following items in the order set fonh: Prohibiting the payment by the Borrower of any such taxes,ar ii
<br /> such law or dec�ce provides that any amount so paid by t6e
<br /> (1)Eround rents.taxes,assessments,fire and other hazard insur- �rrower shall be credited on the debt.the Lender shaU have the
<br /> ance prcmiums• right to give ninety dsys'written notice to the owner of the premises,
<br /> � requiring the payment of the debt.lf such notice be given,the said
<br /> (11)interest on the note secured htret�y; debt shall become due,payable and collectible at thc eaperation of
<br /> Qll)amorti�tion of the pri�cipal of said note;and ��d ninety days.
<br /> (IV)Iatc charges. 6.That should the Borrower fail to pay any sum or keep any • .
<br /> covenant provided for in this instrument.then the Lende�.at its •
<br /> Any deficiency in the amoun!of such aggregate monthly payment option,may pay o�perForm the same,and all expenditures so made
<br /> sh�ll,unless made good by the Borrower prior to the due date of the tio� �,_ . , _ __
<br /> s....l.�a�'��ta t..��rir�:�:��u.:i cwir��r�t�►c sw�u nuie,sinii
<br /> next such psyment.co�stitute an evem of default under tAis �secured hereby,and shall bear interest at ihe rate set forth in the '`"��
<br /> mortgage.The I.ender may collect a"late charge"not to exceed four �id note,until paid.
<br /> ants(4Q)for each dollar(SI)of each payment more than fifteen .
<br /> (I S)days in arrears to cover the extra expense involved in hmnciling 7,'rnat the Borrawer heteby assigns,transfers and seu over to the
<br /> delinquent payments. Lender.to be applied toward the payment of the note and all sums ' -
<br /> 3. That if the total of the piymonu made by the Bonower under �ured hereby in case of a default in the performance of a�y of the , --
<br /> (a)of terms and conditions of this instrument or the said note,aU the rents,
<br /> paragraph 2 preceding shall exceed the amount of payments revenues and income to be derived from the said premises during �
<br /> actualir•Reade by the Lender for ground renu,taxes and assessments such time as the indebtedness shall remain unpaid.and the Lender —
<br /> or insurance premiums.as the case may be,such excess,if the loan is shall have power to appoint an�agent or agenu it may desire for the -
<br />, current,at the optiQ�mf the Borrower,shall be credited by the P�rpose oi repairing said ptemFSes and of renting the same and
<br /> . Lendor on subsequerrQ payments to be made by cfte Sorrower,or ��tectin the rents,revenues and income,and it ma
<br /> rcfunded to the Borrower.If,hawever,the monthly payrtteacs made g y pay out of said �
<br /> by the Borrower under(a>of paragraph 2 preceding shaI[RQt Fse ��comes all expenses of repairing said premises and necessary ; ,.
<br /> commissions and expenses incuned in renting and managing the
<br /> suffiaent to pay ground rents,taxes and assessmenu or ins�eracce �me and of collecting rentals therefrom;the balance remaining,if �}'
<br /> premiums,as the case may be,when the same shat6 txcome due and any,to be appiied toward the discharge of said indebtedness. '
<br /> payable,then the Hosrower sh�ll pay to the Lendec any amount :�.
<br /> neoessary to make up the deficiency,on or before the date when �� -"•
<br /> 8.That the Borrower will keep the improvements now existing or �-.�.�:.�
<br /> payment of such ground rents,taxes,assessmenu,or insurance hereafter erected on the property,insured as may be required from �
<br /> premiw�s shall be due. If at any tdrt�.e the Borrower shall tender to i�me to time by che I.ender against loss by fire and other harards,
<br /> the Lender,in aocoraance with ct�e provisions of che note secured ���ties and cont;ngertcies ia sucb amounts and for such periods as •
<br /> hereby,full paymeat o�the entire indebtedness�eg:esented thereby, may be required by the Lender aacf will pay promptly,wheta due,
<br /> the Lender shall,in oomputing the amount of sach indebtedness, any premiums on such insuratr.ce,provision for paymenc af which
<br /> credit to the account af the Borrawer any balance remaining in the has not been made hereinbefore.All insura��shaIl be carried in
<br /> funds aa;umulated under the proF�s:�ns of(a)af paragra�sh 2 h,�.ceof. companies approved by the Leader and cise�F�¢�At�d renewals
<br /> If titere�ilsil be a ciefaai!under an"y of the provisions of thts � thereof shall be held by the Lend�r and have"attached thereto loss
<br /> , instrument resuttias iiE a public sale of the premises covered�heieby, payable clauses in favor of an¢in form acceptable to the Lender.In
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