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The Mortgagor in order more fully to protect the security of
<br />this Mortgare, agrees:
<br />I Tha, he v,:li pa, the indebtedness_ as herembefore provided
<br />Praileec ;s rc,er,ed ;,) pas the debt in whole or in part on any
<br />instailnxr.t duc ,-'ate.
<br />2. That. together with, and in addition to, the month(}
<br />payments of principal and interest payable tinder the terms of the
<br />note secured hereto, the Mortgagor will pay to the Mortgagee,
<br />on the first dax of each month until the said note is full} paid,
<br />he following sums:
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<br />a XU A sum equal to the ground rents, if am', 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 />fall as estimated bx 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 />razes and assessments will become delinquent, such sums to be
<br />held by %iorigagee in trust to pay said ground rents, premiums,
<br />taxes and special assessments; and
<br />b XKX 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
<br />the order set f(orrth:
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<br />(1) XAV) ground rents, taxes, assessments, fiire and other hazard
<br />insurance premiums;
<br />j(() l (JW interest on the note secured hereby;
<br />(! I t))Lfft amortization of the principal of said note; and
<br />(IV)XXOW late chaigLs.
<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 />.-1-r tl The Mortgagee ms - - - - -- -
<br />... , .- .. ^.gYge. gag j c ..,a:g�..
<br />riot to exceed four cents (40 for each dollar (SII of each pax-
<br />87- 1016054
<br />ment more than fifteen (15) days in arrears to cover the extra ex-
<br />pense involved in handling delinquent payments.
<br />I Th • ' the total of the payments made by the Mortgagor
<br />under XB ) 'of 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 />hov esfr. the monthly payments made by the Mortgagor under
<br />(Oo%? 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 therebv, the Mortgagee shall, in computing the
<br />amount of such indebtedness, credit to the account of the Mort -
<br />gagor ((mil =3 any
<br />balantt� ;;emaiping in the funds accumulated under the provisions
<br />of ;;W paragraph 2 hereof. If there shall be a default under
<br />any of the provisions of this mortgage resulting in a public sale
<br />of the premises s 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 properix is otherwise acquired, the balance then remain-
<br />ing in the funds accumulated undea ft) of paragraph 2 preceding.
<br />as a credit against the amount of principal then remaining unpaid
<br />under said rote. XggU(Xj7�{7(t�p{7(g
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<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 bas not been
<br />made herembefore. and in default thereof the 'Mortgagee may
<br />pay the same; and that the Mortgagor will promptly deliver the
<br />official receipts Therefor to ine Mortgagee.
<br />5. The Mortgagor will pay all taxes which may be levied upon
<br />the Mort¢agee's intrest in said real estate and improvements,
<br />and which max be levied upon this mortgage or the debt secured
<br />hereby (but only to the extent that such is nor prohibited bx law -
<br />and only to the extent that such will not make this !oan
<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 pax- anx sum or keep anx-
<br />covenant provided for in this mortgage, then the Mortgagee, at
<br />its option, mac pax or perform the game, and all expenditures so
<br />Page 2 of 4
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