|
r
<br />The Mortgagor In order more fully to protect the security of
<br />this Mortgage. Area:
<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 />Y �kiH9tlmcMNnlUIRlYtltlumCdOhtYAi (A1m(QItX
<br />i8 i1TtiU1tIHEi(hilBf 7{)wgilw K Ifili %itXAiIiXWN>tgltlN nix
<br />jyxw #WXX
<br />1�iR1�Ib:Watpli 4V(+YISIOUC"XXX
<br />XXXXX)* XWXl9tOlIIP1dmmJfm)!)l4F> )%ARM7lklFx7Plf}[ ik*x lf�tXX
<br />7NCOIOMOOtt110 (iWINKIlliX9pUptIMA WRIIt�11101�OFxhhil(fXfl)A WW*,X%Xx
<br />AMX111WNUlM1(XK MidWXRXROCp1WWl1WRUUft
<br />filifi txd1c1N1titt(t;iirt>11 xfo}) MUIiXIUgbucKxr )a(1t7Rmttx3omtxWM!(xttxxx
<br />7 1ri111t� XJ011fit9tRMlRIWWW(!A(1<�����
<br />xb!>� UWYf MIS[ Ip111XRXR1 (XRl�lt7t)diR*Ill(1®(PubitX )tX %l( X
<br />YY MMAxihuw7 gklfrlli mwmu MM xwxawAotx)mxxxxx
<br />AWXVX XIIWMIiWR!() J� 1(R911I&A1F1a� $R X
<br />�A9tXxXXXXX
<br />VAVWP=XKXWJADOWOdft Ut�00([ R) GWU6RRX9 (fUlXlllp(1�IWfxinWHQWfI9tx
<br />1Eiutlptld�cNit rMC1rrLWAIftXtat7Wnla wkilmakXax>nnttnnd()b(xxxxx
<br />� iik)H4Xi4{iMX�V1Dj X i�HFX tiKX10 (MrdUlYiiYydGtgMxYMiitlp(XX
<br />��wc��ix��t���a�, �l�axi�IKxracxxxll�cixlX ,ti�iix�cX%
<br />Xh >ZIG7Ni7A47WW(RR>PX1<RIO�FR>dG
<br />a *iX 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 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 forth:
<br />XtA1FX x�tR9F kl nRl �����wx��th
<br />XAX)IIt1{I Rf(x1 ItJ aEAtkXX+kA9atRlnitRX9t7WixX9tiE 1FxA�1FAMMK
<br />ANK
<br />(1) XjV) ground rents, taxes, assessments, fire and other hazard
<br />insurance premiums;
<br />(I I) AL'W� interest on the note secured hereby;
<br />(I I 1 )X7IN amortization of the principal of said note; and
<br />( IV)XXJX) 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 (449) for each dollar ($I) of each pay-
<br />$!-w° 102276
<br />ment more than fifteen (IS) days in arrears to cover the extra ex-
<br />pense involved in handling delinquent payments.
<br />3. Thq_if the total of the payments made by the Mortgagor
<br />under 0) V 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 can 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 fr, the monthly payments made by the Mortgagor under
<br />(fi nragraph 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
<br />gpMort-
<br />7tRlto��hl�� Wuner any
<br />balanc e ining in the funds accumulate provisions
<br />of MKS 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 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 undmijk) of paragraph 2 preceding,
<br />as a credit against the amount of principal then remaining unpaid
<br />under said note,X"Ak*N)grjp Shlbxf)# *#X*UA11Xasf> )Xkj*X
<br />> sEMtLchaxxlbammxaeostdeXttxwteoXlR�ltRfc XtattlXtadX>i•
<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 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 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 le%ted 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 />1
<br />I
<br />
|