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<br />88- 106468
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<br />Sorren'" Ind IAndtr ('o\'tnlnl .nd :lRrrt' a. follows:
<br />:'f ,-', ~, .
<br />I. Thai Borrower will pay Ihe ind('blC'dnes5:'aVh1i~elriberore
<br />provided. Prhilqu: is resened to pa~.. Tht' debl in whole or in p.m
<br />on any installment due dale.
<br />
<br />2. That. tDBC'lhc=r "'jlh. and In addilion 10, rhe monlhh
<br />pa)'mentl of principal and interest pa~'able under rhe' term!l of Ihe'
<br />ROle secured hC'rt'b~. Ihe Borrower will pay to rhe lender, on lhe
<br />finl day of ('neh momh unlil Ihe said nOle is (ull~' paid. rhe
<br />following sums:
<br />
<br />_~IiIK~
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<br />(a) _ A sum equ.!.llo the ground tt'nt~. II an~. ne\.l due. plu~ the
<br />premiums that will 01:\1 be\:ome due and payable on poliCle> of
<br />fire and olher hazard lO~urancc cC'\enng the properly. plu~ ta\~~
<br />and as5~55m~nl~ n~'l du~ on the- prop~rt~ (all a~ NrJmarc:-d b.t rhr-
<br />Lendr:or} less all sums alr~ad, paid Iher~for dl\ ided b~ the number
<br />of monlrn to eJap!.e bC'for~ one (J I month prior 10 Ihe dale" hen
<br />such ground rent!.. premiums, lakC'S and assC'ssments "Ill become
<br />delinquent. such sums to b~ h~Jd b, Lender in trust to pa, saId
<br />~round rcnts. premiums. la~es and special aS5~S5menlS; and
<br />
<br />(b) U All paym~nl!l menllon~d in the 1""0 rnecedmg !oub!oC'clion.. 01
<br />this paragraph and all pa~'mems 10 be- made under the nOle
<br />"~cured hereb~ shall be added lo(!elher, and the ag(:regate amount
<br />hereof shall be paid b~ the Borro.....er each month m a ..m{!Je p.J~'
<br />ment 10 be applied b, the lender 10 Ihe foUem mil item\ In Ihe
<br />ard~r set fanh.
<br />
<br />~";'_fIo.~llIJIl]llCIEZ:IIIDb:\
<br />-"<r'_-"rn.~"""""'m<mbb<
<br />~ab:D fV'l.......-.AU'loA~~
<br />llxx
<br />
<br />(I) III) Braund rents, la.Ju~S, assC'Ssment... fire and other hazard
<br />msuranCC' prC'mlum':
<br />
<br />(I I) _ 1:lIC'rC'St on Ihe nOle sC'cured hetel,\.
<br />
<br />(III) n amorrizalion of the prinCipal of ..ald nOle; and
<br />
<br />(IV) .. latc charges.
<br />
<br />Any deficienC')' in the amount of 5Uch aBH.regole monthl, pa,.
<br />rnent shall, unless madr good by thr BorrQuer pnor 10 lhe due
<br />dale of lh~ nellt such payment, cOmtitule an e\enl of deraull
<br />under this monBage:, The: Lender mal collecl a "lale char8~" nOI
<br />10 C'lteed four te'n15 (411:) for each dollar ($1) of each payment
<br />
<br />mOTe Ihan fiflC't'n 115) do)'!> in arrenr-. 10 cO\'C'r Ihe r\lra e\pt'nse
<br />in\ol\ed in handlin~ delinquenl pnymenl~.
<br />
<br />3, Thai if the tOlnl of Ihe paymenls made b)' the Borro"'d:r
<br />under(a)of para8raph 2 prccc:ding shall exceed the amounl of
<br />payments actual!)' made by Ihe Lender for ~round mm. lak~ and
<br />a~!oe!osmenl~ or imurance premium~, a~ Ihe case may be. such C':I.'
<br />ces!o. ir the loan i!o currenl, al Ihe oplion of Ihe Bonower, shall ~
<br />L'redited by Ihe Lender on subsequenl payment!o 10 br made b!-' Ihe:
<br />Rorro"er, or rerundrd 10 Ihe Borrower. H. ho.....~\'er, the monthl,
<br />payment!- made by' the Borrower under (a)or paral.!f3ph 2
<br />preceding shaJl not be:' surrkienl 10 pay ground renls. ta"~ and
<br />a~!oe!o5menlS at imuranL'e premiums, a!o Ihe' casC' ma!-' :X:. when the'
<br />~amc !ohall b(\.'ome due and payable. then Ihe Borro"'ct ~hall pa~
<br />10 the lender an~ amount necessar!- 10 make up the defj":lC'n,,-,. on
<br />or btfore Ihe dale when payment of such ground n~rm, ta\~.
<br />a!o!oe5..m~nl", or in!ourance: premium.. shall be due. If al an~ time
<br />Ihr BOrrO"::T shall lender to th~ lend~r. in accordan.:r \\ ith Ihe
<br />prO\isions of thr nOle secured hereby, full paymenl olthr enlirC'
<br />IOdebtedne~ represenled thcreb,. Ihe ll:nder ..hall. in ,,'omputlllg
<br />the amOUnl or such indebledn!:s.., credil to rhC' aL',,'ount of the Bor-
<br />rov.er_~
<br />
<br />~~;myhalancC'rl'-
<br />maining in the rund~ ar.:.:umuI3led under thr prmi~lon~ l,l{a) l"
<br />paragraph:! hereof. If Iherr shall hc a defauh undC'r an~ I" lhr
<br />pro\ i~iom of Ihl!o m'>trumC'n1 rr..ulting in a public !oak (If Ihl'
<br />premises co\ered hereby. or If Ihe lender a.:quir~ the prof"ctT~
<br />(I(hC'rnl!oc afler default. the lender "hall appl~. al Ihe lime' 01 th.:
<br />..:ommenl..'eme:nt of sUl.'h pro.:eedlDg!o. or al Ihe lime the rrope:"~ '"
<br />OIh~r\lI"~ 3.:qult~d. the l1:l1ancc then n:malnlOg In the iund.. a~'-
<br />~'umulated under {a)ol parapraph :! prc:'.:edlnfl. a.. a ..:Tedll aflam..l
<br />Ih~ amount of pnnl.'lpal Ihen rc:'malnlng unpaId unda '001111 n.llc:'..
<br />~~~
<br />X!I:IdIclm~
<br />
<br />~, Thai the Borre'l\\er \\111 pa~ flround rent... ta\t"o. a....("<..m.:nt...
<br />\\aler rale~. and olher !!l'l\ernmenlal or mum':lpal dtarflt"o, fmC"l.
<br />or Impo..illom. for \\hKh prO\l!oion ha!<o nOl ~en made
<br />heTl~mbd(lre. and in delault thereof thr l~nder ma, pa~ Ihe "3mC'_
<br />Jnd thai the Bommer uill ptompl]~ deIllcr Ihe (Iffi~,a] re.,Ylp'"
<br />Iherefor 10 the I t'nder
<br />
<br />~, The BorrO\\el ",ll pa~ allla\e.. \\hl.:h m;]~ \'It' 1C'led upon
<br />Ihe lend!"r'.. Interc!ot In ..aid rcal e!olalC and Imprlllt'1TlC'TIh, and
<br />"hl\:h ma~ he le\led upon lhl!o ID!olrument l'r the detll 'o(',.-ured
<br />heret-~ Ibut onl~ 10 Ihe e\tent Ihal "ul.'h I~ nl'l rrohlbllC'd t'ty 13\\
<br />and on]~ 10 ,he e\tenl Ihal ..u.:h "111 nOI male thl" loan U<;UTll'u..l.
<br />bUI "",eludmg an~ mcome la",. SIOUe or Federal. IInftO'rd on
<br />lender. and "ill me Ihe offl":lal rC'~.rlpl ..hll\\mg ,u.:h J'.1~menl
<br />"'"h the lrnder l'pon \1olatlon 01 Ihl!<o undC'T1allnf.. 01 II the
<br />Borro\\.er I~ prohibned b, an, la\\ n('I\\ or herC'3flet e'l..tmg from
<br />pa~'tn8' the: ",hole or an~' portion of thr aforeo.:ud 13\(".. or ufIOn
<br />,he fC'ndmng of an, coun dei."rC"C' prohibllmg the p.a~mem b~ the
<br />BOrTOl..er of an~ ~uch la'\C'!o. or If !ouch la\l or de.:rC"C pro\lde-. lhat
<br />an~ amount so paid h~ the Bonoucr ..hall be I.Tr:dlted on the debt.
<br />the le:nd!:'r ..hall ha\C' the TIght 10 (Zl\e mnC'l~ da,,' UTlncn nOIl..:e
<br />to thr ounel of the preml!oe!o, requITIng Ihe pa~mcm of thr delJt
<br />If 'uch nOlicr be (Zt\C'n. Ihc saId debl ~hall tle.:ome due. p.a~.ablr
<br />and collectible OIl Ihe e\pnallon 01 ~Ilj mnel~ da~..
<br />
<br />6. Thai ~hould the Borro\\.ef fad 10 pOl' an) ..urn (It 1.C"C'J" an~
<br />COlenam pro\lded for m lhis m~lrumenl. Ihen the lendrr, at Il~
<br />opllon, may pal or pefform Ihe same, and all e\prndllurC"o '>\.1
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