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<br />Borrower and Lender covenant and agree as follows:
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<br />I, ThaI Borrower will pay the indebtedness. as hereinbefore
<br />provided. Privilege is reserved 10 pay the debt in whole or in part
<br />on ~ny installment due date,
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<br />(i) Xlb) A sum equal to the ground rents. if any. next due. plus the
<br />premiums Ihat will next become due and payable on policies of
<br />fire and other hazard insurance covering the property, plus taxes
<br />and assessmenls neXI due on the property (all as (',slimalt-d /l,\ r /11."
<br />Lender' leu all sums already paId Iherefor di\lded by the number
<br />of monlhs 10 elap!\C before one (II month prior 10 Ihe dale "hl'll
<br />such ground renls. premiums. 1;J,\es and as~sments will become
<br />delinquenl, such sums 10 be held by Lender In truSI 10 pay saId
<br />ground rents. premiums. taxes and specIal assessments; and
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<br />(bl XJ;I All pa~'ments menlioned In the two preceding \ub,e.110ns III
<br />Ihis paragaph and all payments to be madt' under the nOle
<br />5a"Ured hereby shall be added together, and the aggregale amoulII
<br />thercof shall be paid by the BOrfllWer eadl month in a SIn~1t' pay,
<br />menl to be applied by tht' lender 10 the followm8 lIems In the
<br />order ~ fonh:
<br />X
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<br />III 411) Jround rm". laXt'll, as!laSmentl, fire and olher hlt/ard
<br />inluranee premiums;
<br />1m IX
<br />(1111 inleresl on the nOle se.Uled hl."reh~,
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<br />UUI *",1 amortlutlon of the principal of s:ud 1I01e; and
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<br />1lI1) ~l late char~
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<br />Any deficiency III Ihe lImounl llf such agglegall." 111llllthly I'a~
<br />menl shall, unless made tlood b~ the Ikmo"'er I"I'I0r to the due
<br />dall:' of the nnl such pa)melll, ';OllsII1UIC an l."scnl 01 defaull
<br />under thi. morlltllll:', nle lender may C\,lIrcl a "Iall' l'hllfl!C" 11,'1
<br />to exct'td four cenl. (;$C. lor each dollar IS II Oll."a\'ll pa\'nwlll
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<br />88- 10334.0
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<br />more Ihan fifteen (15) days in arrears to cover Ihe extra expense
<br />involved in handling delinquent paymenls,
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<br />3, That if the 10lal of the payments made by the Borrower
<br />under~bf paragraph 2 preceding shall exceed the amount of
<br />payments actually made by the Lender for ground rents, taXes and
<br />assessments or insurance premiums. as the case may be, such ex-
<br />cess, if the loan is current, at the option of tho: Borrower. shall be
<br />credited by the Lender on subsequent payments to be made by the
<br />Borrower, or refunded 10 the Borrower. If, however, the monthly
<br />payments made by the Borrower under~bf paragraph 2
<br />preceding shall nOI be sufficient to pay grour:d rents, tal(es and
<br />assessments or insurance premiums. as the case may be. when the
<br />same shall become due and payable, then the Borrower shaD pay
<br />to Ihe Lender any amount necessary to'make up the lkrlciency. on
<br />or before the dale when payment of such ground rents, taXes.
<br />assessments, or insurance premiums shall be due. If at any time
<br />the Borrower shall tender 10 the Lender. in accordance ~ith the
<br />provisions of the nOle secured hereby, full payment of the entire
<br />indebtedness represenled thereby, the Lender shaD. in computing
<br />the amount of such indebledness. credit to tbe account of the Bor-
<br />rower~"~-"'~~l~
<br />~_lI&JIRI1IXIII'1"-~~-U1il"~
<br />~~"rKlmaalft."y balance re-
<br />maining in the funds accumulaled under tbe provisions oUi) of (I)
<br />paragraph 2 hereof. If there shall be a default under an}' of the
<br />provisiom of Ihis imlrument resulting in a public sale of the
<br />premises covered hereb~'. or if the Lender acquires the property
<br />Olherwise afler default. Ihe Lender shall appl}', at the time of the
<br />commencement of such pnx:eedings. or at the time the properlY is
<br />olherwise acquired. tlte balance Ihen remaining in the funds ac.
<br />l'umulal~-d under .._ paragraph 2 preceding, as a credit again&!
<br />lhe amount of principallhen remaining unpaid under said note. .
<br />XDU(D~~'-wD'~ 11(10.
<br />~w.otiA'lCIIDdJ.Il nllUIOWl
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<br />4. TIml Ihe Borrower will pa}' ground rents. 111\.es. assessment!..
<br />waler rales. and olher go\'emmenlal or municipal charges. fines.
<br />lH Impositions. for which provi!>ion has nOI been made
<br />hereinbefore. and In defauh Ihl.'l'cof the Lender ma~ pa~ 'be ~me;
<br />and thaI Ihl:' Borrower "ill promptly deti.er the offioal ~"'Opl"
<br />Iht'ldor 10 Iht' tender.
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<br />~ The Uorr\l"er \II III P.l~ all la\~ ,...hl(h mil} t>e It"\led Uf'('n
<br />lhe lender', mlere.1 In ...ald real estate and ImrHl\emcm.... and
<br />,,11I,'h may be le\ ic:d upon thiS Instrumenl or the debl ..a."Uled
<br />herell\ (bUl only 10 Ihe nlem Ihal "uch .s nor rrohihna:l tl~ IaVo
<br />and only 10 Ihc nlem Ihal "lIch will nOI make Ihls loan usunousl.
<br />llul t'\dudlll~ an~ m,OI1lC' la\. Stale "I I'a:leral. .m~ .:>n
<br />I clldcf. '.nd ".11 file Ihe .,fft.,al 1e..~IJlI sl1\lVom~ ..u..il 1'-1\'mMll
<br />\\Ilh lhe lelldC'T Upon \lolallOo of Ih" undenak'"i!. (111 If Ihe
<br />IklrroS\ el I~ rlOlllhilcd b~ an~ la.... n\'" Of hen:'.lher ('\...111111 h...'II1l
<br />paymg the wholl:' or an~' portlon of the .11oroald 1;11\.es. .o1 upl'n
<br />the lendenng of an~' courl de.ree: PTllhitlitlOJl Ihl:' I'-'~ment b~ the
<br />\1orlo\\'er of any' \u.:h IIl\es. or if 5u.:h \a.... or dl.".'Tl"t' rr1l,widc-. lhal
<br />an~' amollnt sO J'aid ll~' Ihe Borrov.~r ..hall t>e <-ra:liIN ,'\n Ihe dehl.
<br />t hl' I endel shall ha\!: lhl:' f1l1hl 1\' 1:"'(' mnel\ ..1a\'\' "nllell 11011ct"
<br />I" Ihe l'''ner ollhe I'I'('nlls...... Icqumn~ Ih(' 1'3\111elll .., the debl
<br />II \udl nOIl,'e be lli\l'lI, Iht' sallJ dt'''l shall l'C'I.'l'ml' .1m', Jl3\:Jt>k
<br />and ".llt'l.'III'k <II Ihe ('\1'1I..1110n ." -.aId IlInel~ da~s
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<br />(), lhal slllluld rhl.' 1\011\''''el fall h' J'3\ 3n~ <um ." l.('('fI an\
<br />l'(H l.'nal1l pH" Ided h'l 111 ,hIS In'IIUII\t'r.l. lhen Ihe I enJl'l, .11 II'
<br />"1'11(\11, lIla~ pa~ .'r 11('! l<'Im ,h.. ..ame, and all t'\l"ClldllUf"'" ...,
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