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<br /> � 7`R. .:ia�tgogar in nr�rr mar� fuity to arotzci th� �cu`ity ot the pruperty utlirn.ise aftct deiauit, thc ;lfortgAgee shail appiy.
<br /> th19 Mu�t�s=e, �=rees: at thc time of the commencement oP such praceedings. ar at the
<br /> timc the properiy is otherwise acqui�ed, the bala�ice the» remain•
<br /> 1. That he��i11 pay �hr indebtedne�+, ati hercinbefare pro�ided. ing in the funds accumulated under �al of pa�agraph 2 preceding,
<br /> Pricilege is reser�ed to pay ihe debt in �►{�ole ur in part on any as a credit against the amount of pri�cipal then remaining unpaid
<br /> instaUment due date. under said note.
<br /> 2. That. to�ethe�with, and in addition to, the monthly 4. That the b1ortgagor will pay ground rents, taxes,
<br /> payments of principal and•interest payable under the terms o�'the assessmems, wacer rates, and other governmental or municipal
<br /> ; note secured hereby, the Mortgagar will pay to the Mortgagee, chargec, iines, or imposiiions, for which provisio� has not been
<br /> on the �rst day ot'each month until thc said note is fully paid, made hereinbefore, and in default thereof'the Alortgagee may
<br /> the following sums: pay the same; and [hat the Mongagor a�ill promptly delivGr the
<br /> (a) A sum equal to the ground rents, if any. next due, plus the official receipts therefor to the Mortgagee.
<br /> premiums that will next become due and payable on policies of 5. The R1ortgagor will pa�• all taxes which may be levied upon
<br /> �re and other hazard insurance covering the mortgaged property, �he Mortgagee's interest in said real estate and improvements.
<br /> plus taxes and assessments next due on the mortgaged p�operty and which may be levied u on this mon a e or the debt secured
<br /> (all as estimated by rhe Mortgagee)less aU sums already paid p 8 g
<br /> therefor divided by the number oP months to elapse�befare one hereby(but only to the extent that such is not prohibited by law
<br /> . (1) month prior to the date when such ground rents. premiums, and only to the extent that such will not make this loan
<br /> taxa and assessments will become delinquent, such sums to be usurious), but excluding anK income tax. State or Federal. im-
<br /> held by Mortgagee in trust to pay said ground �ents, premiums, Posed on Mortgagae. and will �le the officia!receipt shawi�g
<br /> taxes and special assessments• and such payment wiEh the Mortgagee. Upon violation of this unde�-
<br /> ' taking, or if the�lortgagor is prohibited by a�y law now or
<br /> (b) A1Z payments mentioned in the precedi�g subsection hereafter exis±ing from paying the whole or any portion of the
<br /> of this paragraph and all payments to be made under the note aforesaid taxes, or upon the rendering of any court decree pro-
<br /> stcnred herthy shall be added tog�tlyer. 8�ta Ihe aggregalr amount hibiting the payment by the Mortgagor of any such taxes, or if
<br /> thereof shall be paid by the Mongagor eaeh month in a single such law or decree provides that any amount so paid by the
<br /> payment to be applied by the Mortgagee to the following items in Mortgagor shall be credited on the mortgage debt, the Mortgagee
<br /> the order set forth: shatt have the right to give ninety days' written notice to the
<br /> p) ground rents, taxes, assessments, fire and other hazard o�vner of the mortgaged premises, requiring the payment of the
<br /> � insurance premiums; mortgage debt. lf such notice be given, the said debt shall �
<br /> become due. pay�able and collectible at the expiration of said .
<br /> , (Il) interest on the note secured hereby; ninety days.
<br /> QII) amortization of the principal of said note;and {�. Th�i �hv'� s!:� *4�rt °^or £sil t;.—a•aa•�Lrs:,r �cz I �:
<br /> s••a Y 3 y -�n�f -�T_ :.�- .
<br /> (1V) late charges. co�•enant provided for in this mortgage, then the Mortgagee, at i . �-¢
<br /> Any de�ciency in the amount of such aggregate monthly pay- �«option, may pay or perform [he same. and all expenditures so � - -
<br /> ment shall. unless made good by the A�ortgagor prior to the due made shall be added to the principal sum owing on the above •
<br /> date of the next such payment.constitute an event of default note. shall be secured hereby, and shall bear interest at the rate �
<br /> under this mortgage. The Mortgagee may collect a •'late charge" set forth in the said note, until paid.
<br /> not to exceed four cents(4�) for each dollar($1)of each pay- �, That the Mortgagor hereby assigns. transfers and sets over
<br /> ment more than �fteen (1S)days in arrears to cover the extra ex- to the Mortgagce. to be appIied toward the payment•of the note
<br /> pense involved in handling delinquent payments. and all sums secured hereby in case of a default in the perfor- �_
<br />. 3. That if the total of tht payments made by the Mongagor mance of any of[he terms and conditians of this mortgage or the
<br /> under(a) of paragraph 2 preceding shall excad the amount of said note. all the rents, revenues and income to be derived from
<br /> payments actually made by the Mortgagee for ground rents, taxes the mor.tgaged premises during such time as the mortgage in•
<br /> and assessments or insurance premiums. as the case may be, such debtedness shall remain unpaid. and the Mortgagee shall have
<br /> excess, if the loan is current, at the option of the Mortgagor. Power to appoint any agent or agents it may desire for the pur- � �
<br /> . shall be credited by the Mongagee on subsequent payments to be Pasc of rtpairing said premises and of renting the same and tol• •
<br />, made by the Mortgagor, or refunded to the Mortgagor. If. �ecting the rents, revenues and income, and it may pay out of
<br /> hawever. the monthly payments made by the Mortgagor under said incomes all expenses of repairing said premises and necessary
<br /> (a)of paragraph 2 preceding shall not be suf�cient to pay commissions and expenses incurred in renting and managing the .::��°
<br /> same and of collecting rentals therefrom: the balance remaining, ��'
<br /> ground rents, taxes�nd assessments or insurance premiums, as �f an y, to be a p plied toward t he disc harge o f'sai d mortgage '
<br /> the case may be, when the same shall become due and payable, �ndebtedness.
<br /> then the Mortgagor shall pay to the Mortgagee any amount
<br /> necessary to make up the deficiency,on or before the date when g, -r}iat the ;�Iortgagor w�ill keep the improvements now ex-
<br /> ; payment of such taxes. ground rents,assessments, or insurance �sting or hereafter erected on the mortgaged property, insured as
<br /> ptemiums shall be due. If at any time the Mortgagor shall tender may be required from time to time by the Mottgagee against loss
<br /> to the Mortgagee,�in accordance with the provisions of the note by�re and other hazards. casualties and contingencies in such
<br />: �ecurtd @ereby, fu!!payment of she enti�e indebtedness �ounts and for such periods as may be required by the Mor-
<br /> represented thereby, the Mortgagee shall, in computing the tgagee and witl pay promptly. when due, any premiums on such
<br /> , amount of such indebtednas. credit to the account of the Mort- �nsurance provision for payment of which has not been made
<br /> gagor any balance remaining in the funds accumulated under the hereinbefore. All insurance shall be carried in companies approv-
<br /> • provisions of(a) paragraph 2.hereof. If there shall be a default ed by the Mortgagee and the policies and renewals thereof sha11
<br /> under any of the provisions of this mortgage resulting in a public be held by the '.�ortgagee and have attached thereto loss payable
<br /> sale of the premises covered hereby.or if the Mortgagee acquires
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