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<br />87-.102359
<br />(a) A sum equal to the ground rents, N any, next due, plus the premiums that will next become due and payable on policies of fira and
<br />Other hazard Insurance covering the mortgaged property, plus loxes and assessments next due on the mortgaged property (all as
<br />teNreeled by the Mortgages) less all sums already paid therefor divided by the number of months to elapse before one (1) month
<br />Prim to the data when such ground rants, premiums, taxes and assessments will become delinquent, such sums to be held by Mort
<br />gagae In trust to pay sold ground rents, premiums, taxes and special assessments; and
<br />(b) AN payments mantioned in'the two preceding subsections of this paragraph and all payments to be made under the note secured
<br />thereby app�dbe added her, and the aggregate amount thereof shin be paid by the Mortgagor each month M a single payment by the Mortgages to the following hems In the order set forth;
<br />(U ground rents, taxes, assessments, itrn and other hazard Insurance premiums;
<br />(N) iderast on the note secured hereby; and
<br />(IN) amortitatlon of the principal of said note.
<br />Any deficiency In the amount of such 99WO010 monthly payments shall, unless made good by the Mortgagor prior to the duo date
<br />of the next such payment, constitute on event of default under this mortgage. The Mortgagee may collect a "late charge" not to e),-
<br />coed four cents (4c) for tech dollar (tit) of each payment more than fifteen (15) days In arrears, to cover the extra expense Involved
<br />In handling delinquent payments.
<br />3. That N the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shag exceed the amount of the payments
<br />actually made by the Mortgagee for ground rents, taxes and assessments or Insurance premiums, as the case may be, such excess, if tire
<br />loan is current. at the option of the Mortgagor, shah be credited by the Mortgagee on subsequent payments to be made by the Mortgagor.
<br />or refunded to the Mortgagor. If, however, the monthly payments made by the Meirq,q�r tinder (a) of paragraph 2 preceding shall not be
<br />suf 1c10nt to pay pound rent, taxes and assessments or insurance premiums, as the case may be, when the same shall become due and
<br />payable, then the Mortgagor shag pay to the Mortgagee any amount necessary to make up the deficiency, on or before the dale when pay-
<br />ment of such pound rents, taxes, assessments or insurace premiums shag be due. II at any time the Mortgagor shag tender to the Meriga
<br />gee, lu accordance with the provisions of the note secured hereby, fug payment of the entire indebtedness representmd there by. the hfortg ±-
<br />gee shag, in computing the amount of such indebtedness, credit to the account of the Mortgagor, any balance remaining in the funds err '
<br />mulcted under the provisions of (a) of paragraph 2 hereof. If there shell be a default under any of the provisions of this mortgage rerupinq
<br />In a public sale of the premises covered hereby, or if the Mortgagee acquiie-; fire properly otherwise after delault, the Mortgagee -iron
<br />apply, at the time of the commencement of such proceedings, or at the time the property Is otherwise acquired, the balance then , *311 ran.r
<br />M the funds accumulated under (a) of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under -mid
<br />note.
<br />4. That the Mortgagor will pay all ground rents, taxes and assessments, water rates, and other governmental or municipal charge,, fins nr
<br />impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee may pay the same: and than flirt M,,rr
<br />gagor will promptly deliver the official receipts therefor to the Mortgagee.
<br />5. The Mortgagor will pay all taxes which may be levied upon the Mortgagee's interest in said real estate and improvements, which may he
<br />levied upon this mortgage or the debt secured hereby (but only to the extent that such Is not prohibited by law and only to the extent that
<br />such will not make this ban usurious), but excluding any income tax. State or Federal, Imposed on Mortgagee, and will file the official rereipt
<br />showing such payment with the Mortgagee. Upon violation of this undertaking, or if the Mortgagor is prohibited by any law now or hereafter
<br />existing from paying the whole or any portion of the aforesaid taxes, or upon the rendering of any court decree prohibiting the payment by
<br />the Mortgagor of any such taxes, or N such law or decree provides that any amount so paid by the Mortgagor shag be credited on the
<br />mortgage debt, the Mortgagee she# have the right to give ninety (90) days' written notice to the owner of the mortgaged premises, requiring
<br />the payment of the mortgage debt. If such notice be given, the said debt shag become due, payable and collectible at the expiration of said
<br />ninety (90) days.
<br />6. That should he fall to pay any sum or keep any covenant provided for In this Mortgage, then the Mortgagee, at its option, may pay or
<br />perform the same, and all expenditures so made shall be added to the principal sum owing on the above note, shag be secured hereby, and
<br />shag beer interest at the rate set forth In the said note, until paid.
<br />7. That he hereby assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of the note and all sums secured
<br />hereby in case of a default in the performance of any of the terms and conditions of this Mortgage or the said note, all the rents, revenues
<br />and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain unpaid; and the Mort -
<br />gages shelf have power to appoint any agent or agents it may desire for the purpose of repairing said premises and of renting the same and
<br />colfacdN the rains. revarwes and Income, and N may pay out of said Incomes a# expenses of repairing said premises and necessary com-
<br />missions and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance remaining, N any, to be
<br />applied toward the discharge Of add mortgage indebtedness.
<br />6. 71wt he will keep the Improvements now existing or hereafter erected on the mortgaged property, insured as may be required from time to
<br />tine by the Mortgagee against loss by fire and other hazards, casualties and contingencies in such amounts and for such periods as may be
<br />required by the Mortgagee and will pay promptly, when due, any premiums on such Insurance provision for payment of which has not been
<br />made hereinbefore. AN Insurance shag be carried in companies approved by the Mortgagee and the policies and renewals thereof shall be
<br />held by the Mortgagee and have attached thereto loss P
<br />loss Mort will Payable clauses in favor of and in form acceptable to the Mortgagee. In even) of
<br />Mortgagor give Immediate notice by me# to the Mortgagee, who may make proof of loss if not made promptly by Mortgagor, and
<br />each Insurance company concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee Instead of
<br />to the Mortgagor and the Mortgagee jointly, and the Insurance proceeds, or any part thereof, may be applied by the Mortgagee at its option
<br />either to the reduction of the Indebtedness hereby secured, or to the restoration or repair of the property damaged. In the event of fore-
<br />closure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right.
<br />We and interest of the Mortgagor in and to any Insurance policies then in force shag pass to the purchaser or grantee.
<br />S. That as additional and collateral security for the payment of the note described, and oil sums , -come due under this mortgage, the
<br />Mortgagor hereby assigns to the Mortgagee all profits, revenues, royaNles, rights and benefits accn,;ng to the Mortgagor under any and all oil
<br />and gas tosses on sad premises. with the fight to receive and receipt for the same and apply them to said Indebtedness as well before as
<br />after default in the conditions of this mortgage, and the Mortgagee may demand, sue for and recover any such payments when due and pay
<br />able, but shag not be requred to do so. This assignment Is to terminate and become null and void upon release of this mortgage.
<br />10. That the Mortgagor will keep the buildings upon said premises in good repair, and neither commit nor permit waste upon said land, nor
<br />stator me Sold Premises to be used for any unlawful purpose.
<br />it. That N the promises, or any pan thereof, be condemned under the power of eminent domain, or acquired for a public use, the damages
<br />awarded. the proceeds for the taking of, or the eonskferawn, for such acquisition, to the extent of the fug amount of Indebtedness upon this
<br />nxwlgsge and the note which N Is given to secure remaining unpaid, are hereby assigned by the Mortgagor to the Mortgagee, and shag be
<br />Pad forthwith to said Mortgagee to be applied by the latter on account of the next maturing instalments of such Indebtedness.
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