|
F
<br />l.�
<br />87, 100566
<br />Ttse Mortgagor in order more fully to protect the security of
<br />this Mortgage, agrees:
<br />1. That he will pay the indebtedness, as hereinbeFore provided.
<br />Privilege is reserved to pay the debt in whole or in part on any
<br />installment due date.
<br />2. That, together with, and in addition to, the monthly
<br />payments of principal and interest payable under the terms of the
<br />note secured hereby, the Mortgagor will pay to the Mortgagee,
<br />on the first day of each month until the said note is fully paid,
<br />the following sums:
<br />XX
<br />xxxxXxelginunelia�wNnnlxa) pnav> ta1KxNKxtnuadc�iac�adt�liibcxiuu�lx
<br />xast Ilartr, Itilltwc�iryiniglulunlwoirrllKtlKK�xx
<br />�*N221 014 4 f 4 W V I VM W
<br />) s�Ililwd�wcRKewc�x�rau+ nwllcn�il rJvllcinn�IX�rIDOaunwetxx
<br />xxxxxx) tkkA"ltiMx)ckklNkllhtRRk*tf 0 = i�R1l�>�tit��xx
<br />xlill9WAF1l X) OOFx9 lIHl1RFk)Pxx117FX11AlK�PlAliltk R)Nl7PXx91RIM
<br />) d) i111U0KOk�) I1< MM�itA) CXXi1KX it701tKkK) wtli�00Q (IQt11iLlRlptllllttlQ(I(xx(IIK
<br />l�K>biXikXMfiYd(>4iQ(NIUi> ILK *1901tX9iKlt>e)f!i>ftl(I�YAUU(K kMIlXX
<br />�g 7l7fiHF )PlFit�ki!ll9t>ZR xtfE'xRW
<br />TI��iAtll kAkiB (fE!lllkRk�R>FR��;�t��9GFk9QXR kfl�A�x
<br />xiixklat�aatllleN i�ttx9at> �actiMit9lot >xbtltiallali�lltx'xx4t�czx
<br />x0tlOk11rKilX)1)atmt M117r nism *XXXXXX
<br />AW >� �A x3c E'x$ it Rxxx
<br />�aalfl�lt� ax"N >f6at i�llt it tlulxxn X�In it
<br />x xi
<br />Wd0[NMitXalbWdLvbaj mJ 07WtiUUppQNAQx77tlllt )pPXAlIo)tlC*kxxxxx
<br />x4fxxg; ItxiDUlteeul[ 1tXYX> Xl �xKttttlnlxKxXMKX1WHtitLKlgtOt lWO1m10(gXX
<br />X�)yiYj(>wJ( illy( liirltLliM�ftldE�tKiNifi( itXlitlW[it(�KriYdtxtlElEliifliY x x
<br />x�hk�A llfillfFk7P1f)AlJf�llXflkkfER�
<br />a )ft A sum equal to the ground rents, if any, next due, plus the
<br />premiums that will next become due and payable on policies of
<br />fire and other hazard insurance covering the mortgaged property,
<br />plus taxes and assessments next due on the mortgaged property
<br />(all as estimated by the Mortgagee) less all sums already paid
<br />therefor divided by the number of months to elapse before one
<br />(1) month prior to the date when such ground rents, premiums,
<br />taxes and assessments will become delinquent, such sums to be
<br />held by Mortgagee in trust to pay said ground rents, premiums,
<br />taxes and special assessments; and
<br />b )td All payments mentioned in the two preceding subsections
<br />of this paragraph and all payments to be made under the note
<br />secured hereby shall be added together, and the aggregate amount
<br />thereof shall be paid by the Mortgagor each month in a single
<br />payment to be applied by the Mortgagee to the following items in th
<br />the order set forth: jX
<br />AgAwn X$bN RX k�klPf lkRllAPu�RiIRIUP(1tfB( I�XX
<br />xkll;
<br />(t ��surp ground rents, taxes, assessments, fire and other hazard
<br />an a premiums;
<br />V interest on the note secured hereby;
<br />(II} X XX
<br />(I I
<br />AY amortization of the principal of said note; and
<br />(IV)lim late charge%.
<br />Any deficiency in the amount of such aggregate monthly pay-
<br />ment shall, unless made good by the Mortgagor prior to the due
<br />date of the next such payment, constitute an event of default
<br />under this mortgage. The Mortgagee may collect a "late charge"
<br />not to exceed four cents (4f) for each dollar ($I) of each pay-
<br />ment more than fifteen (15) days in arrears to cover the extra ex-
<br />pense involved in handling delinquent payments.
<br />3. Th t f the total of the payments made by the Mortgagor
<br />underXxjf paragraph 2 preceding shall exceed the amount of
<br />payments actually made by the Mortgagee for ground rents, taxes
<br />and assessments or insurance premiums, as the case may be, such
<br />excess, if the loan is current, at the option of the Mortgagor,
<br />shall be credited by the Mortgagee on subsequent payments to be
<br />made by the Mortgagor, or refunded to the Mortgagor. If,
<br />ho,� er, the monthly payments made by the Mortgagor under
<br />I . )paragraph 2 preceding shall not be sufficient to pay
<br />ground rents, taxes and assessments or insurance premiums, as
<br />the case may be, when the same shall become due and payable,
<br />then the Mortgagor shall pay to the Mortgagee any amount
<br />necessary to make up the deficiency, on or before the date when
<br />payment of such ground rents, taxes, assessments, or insurance
<br />premiums shall be due. If at any time the Mortgagor shall tender
<br />to the Mortgagee, in accordance with the provisions of the note
<br />secured hereby, full payment of the entire indebtedness
<br />represented thereby, the Mortgagee shall, in computing the
<br />amount of such indebtedness, credit to the account of the Mort-
<br />gago WARX
<br />R Rk Wbalan a remaining in the funds accum at uovisions
<br />of b� paragraph 2 hereof. If there shall be a default under
<br />any of the provisions of this mortgage resulting in a public sale
<br />or the premises covered hereby, or if the Mortgagee acquires the
<br />property otherwise after default, the Mortgagee shall apply, at
<br />the time of the commencement of such proceedings, or at the
<br />time the property is otherwise acquired, the balance then remain-
<br />ing in the funds accumulated urfieYAb) of paragraph 2 preceding,
<br />as a credit against the amount of principal then remaining unpaid
<br />under said note,XilO)*Kx WRIISF liXk !(lilkI&*RXX>A9PRkRRhX*MX
<br />XsWkbacexXbaaouWat>lpld KXAkx(xol1;lW ARkX2-
<br />4. That the Mortgagor will pay ground rents, taxes,
<br />assessments, water rates, and other governmental or municipal
<br />charges, fines, or impositions, for which provision has not been
<br />made hereinbefore, and in default thereof the Mortgagee may
<br />pay the same; and that the Mortgagor will promptly deliver the
<br />official receipts therefor to the Mortgagee.
<br />5. The Mortgagor will pay all taxes which may be levied upon
<br />the Mortgagee's interest in said real estate and improvements,
<br />and which may be levied upon this mortgage or the debt secured
<br />hereby (but only to the extent that such is not prohibited by law
<br />and only to the extent that such will not make this loan
<br />usurious), but excluding any income tax, State or Federal, im-
<br />posed on Mortgagee, and will file the official receipt showing
<br />such payment with the Mortgagee. Upon violation of this under-
<br />taking, or if the Mortgagor is prohibited by any law now or
<br />hereafter existing from paying the whole or any portion of the
<br />aforesaid taxes, or upon the rendering of any court decree pro-
<br />hibiting the payment by the Mortgagor of any such taxes, or if
<br />such law or decree provides that any amount so paid by the
<br />Mortgagor shall be credited on the mortgage debt, the Mortgagee
<br />shall have the right to give ninety days' written notice to the
<br />owner of the mortgaged premises, requiring the payment of the
<br />mortgage debt. If such notice be given, the said debt shall
<br />become due, payable and collectible at the expiration of said
<br />ninety days.
<br />6. That should the Mortgagor fail to pay any sum or keep any
<br />covenant provided for in this mortgage, then the Mortgagee, at
<br />its option, may pay or perform the same, and all expenditures so
<br />Page 2 of 4
<br />a
<br />I
<br />�f
<br />
|