|
The Mortgagor in order more fully to protect the security of
<br />this Mortgage, agrees:
<br />. That he will pay the indebtedness, as herctnbefore pro,ded.
<br />PrInilege 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 />XXXKkx9CillptN!(J QN0ifk7I�Q1l RXXRRx1dB (�I4I�P(#d1(9(k7FXq(It�:ll7(NK �RRdxx
<br />Xi)( WXMKR1tlIX)WAXIVUPXkUXMUX=MN itl JAIOf4XJIlOX rAAuwxx
<br />rt�vtgl�t�,+ ull�xal+ dtR�ltxatlyc�llxxu�slyd (�xiEl:xXtts�nxR>f+au(xfp�l(auc
<br />�l' XlSX> fic�IX>��xXK19�4x7G�Xro�+�a�tXXX
<br />xx> mtl�atlWmbeln (>o(Radtl�mmcliXUMx)tbilxxt�(xx
<br />XXXXXXfrltid( Xdz�Fxi�!� R� £ lE�'it5t XX
<br />)NO* Ill a RRRkkft*mz�MXRRJ(RRRII Q00X�714Q1(��
<br />XNRRIq( ifRXMR )bCbIRRXIdO(lQbOppt[t1UlOp�Mx xAXMRXIUQ(IIMRO(XbWf 11MOtX�X
<br />AtX�t�xAF Ira, 2
<br />�Oacxgl�(RRR #faocx XXXXX
<br />>t> x R � MWrAOI*i kM W%kNo*kR)IRX#0(XI(R9(RRKX RMXXXx
<br />l QX)[ 1X�00041E; Ci�(l( M90► X( ICIO([ IOOm( RMR7�t1�f7U1RR1NY4 (RM)p(RRMMRRXX
<br />1tlMIXM" ti "LVWbxMiMl(iiMiH(M)ER1tQMLXt1;t nnrgUitX AltM MKXX
<br />WIIfNBHEIfAIPQfXffA'ffXlFk9t *
<br />a jM 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 />tall 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 ko Ail payments mentioned in the two preceding subsections
<br />of this paragraph and all payments to be made under the note
<br />secured hereby shat 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
<br />the order set forth:
<br />rsfi)ttPPPP"GAV RFS,)ig4Cd t j;Q0Us1Ct,.Af_jns=ance_ with
<br />w. wwanw+ swwtutnxlt7ftneatYtR7F7Wt9FRRit9( RiU00gW (A9I9fXx#1fi�JlA9P1FX�XtXII
<br />7�Gt
<br />1) XjJI) ground rents, taxes, assessments, fire and other hazard
<br />Insura /ncjjei� �rpremiums;
<br />(I I) ltx "W interest on the note secured hereby;
<br />(I I I ))dki amortization of the principal of said note; and
<br />(Iy)XX*) late charges.
<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 (4`) for each dollar (S1) of each pay-
<br />87--- lolo90
<br />ment more than fifteen (15) days in arrears to cover the extra ex-
<br />pense involved in handling delinquent payments.
<br />3. Thgt --{{'f the total of the payments made by the Mortgagor
<br />unde4wfl 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 the the monthly payments made by the Mortgagor under
<br />(1i(tbiparagraph 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 />g" x X an bal to t e un s accurau at un er t e provisions of iW paragraph 2 hereof. If there shall be a default under
<br />any cf the provisions of this mortgage resulting in a public sale
<br />of 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 unpei R) of paragraph 2 preceding,
<br />as a credit against the amount of principal then remaining unpaid
<br />under said note, 199A( 1l kR�JtR7BBE1[ ICkR1 lt�fXR�tX>B�1QR'�7tSFXXklAb(I(
<br />RtRdkkM)( RJbAFMXXR1t1�FXRRdR9t� -0d(R�19@tRiR�(X'-
<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 />91,
<br />,t
<br />M
<br />_1
<br />
|