|
F
<br />87- 102490
<br />Tile Mortgagor to order more filly to protect the security of
<br />this Mort", SVM-
<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 />X XAMUM� xlrvc+ urntaowr> Rttttiutittdtxwtlttetlalit�lx falurcx
<br />WMWXx
<br />� ---f�XtaVtfldiWWlIXXX
<br />xxxxx)b1k*xNWllJlxjppg(UM A( xlplNN *AX1t1(*klllll*lt*)Onxxx
<br />xktix
<br />il�> �tix' Mlf) flt> tdl> rlgtJ6x�01 )EMIfluultndor1al01a(xltXttitX
<br />> ht�lfilxlG�1( ilidicMc7(wcytul7fdYgi7�Jtgrxxx
<br />R'l l�l �RkRRX!ll9HF)(RIHf!!!!lfllXlllc fAUA[ K ltll� Mon
<br />1MId1()<) MI�XIp1t1110Uplti�xt #fg1111N1U0(1()�IItR
<br />>]DtlPiliDpGllplK fltKYaf xgK> f0Ut�1mfJ1MlD lmX7Flgllliq)n(AtC�glf
<br />�UU&WPU iKJNl MXXjL%IMINBj)WXXXXxx
<br />1 ac,�>>�� AL��l! X*XX,xXxx x x x
<br />�il> oililORkN Kldulwet>i�c1(tac�#igcRli xxxx
<br />�nn� �KttxiwmwumtKxxxxx
<br />ilgxt�biYitgxdlYtiilfidfiiliixx
<br />� � �iXii��il:Il�t�iHi�bYd(iHfxxx
<br />a l01)tA 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 lazes and assessments next due on the mortgaged property 4. That the Mortgagor will pay ground rents, taxes,
<br />(ail as estimated by the Mortgagee) less all sums already paid assessments, water rates, and other governmental or municipal
<br />therefor divided by the number of months to elapse before one charges, fines, or impositions, for which provision has not been
<br />(1) month prior to the date when such ground rents, premiums, made hereinbefore, and in default thereof the Mortgagee may
<br />taxes and assessments will become delinquent, such sums to be pay the same; and that the Mortgagor will promptly deliver the
<br />held by Mortgagee in trust to pay said ground rents, premiums, official receipts therefor to the Mortgagee.
<br />taxes and special assessments; and
<br />b iplxAll payments mentioned in the two preceding subsections 5. The Mortgagor will pay all taxes which may be levied upon
<br />of this paragraph and all payments to be made under the note the Mortgagee's interest in said real estate and improvements,
<br />secured hereby shall be added together, and the aggregate amount and which may be levied upon this mortgage or the debt secured
<br />thereof shall be paid by the Mortgagor each month in a single hereby (but only to the extent that such is not prohibited by law
<br />Payment to be applied by the Mortgagee to the following items in end only to the extent that such will not make this loan
<br />the order set forth: 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 />ment more than fifteen (I5) days In arrears to cover the extra ex.
<br />Pense involved in handling delinquent payments,
<br />3. TbVj the total of the payments made by the Mortgagor
<br />under XMJ �0 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%q r, the monthly payments made by the Mortgagor under
<br />(l Ko 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
<br />R )tRlt i ndeR b tednlfercsrss(p� ,t� credit tothe account of the Mon-
<br />got tltoauotxtf x i It M�7uPX o * R>ERWxRlR Ot fiRxx X
<br />balan ARkppink w e tg in funds accumulated vtsions
<br />Of (bJb'T' 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 and*) of paragraph 2 preceding,
<br />as a credit against the amount of principal then remaining unpaid
<br />under said note, pr uatX�ayicR>AXRtaa(RX10 abckXX
<br />Yilltl llfltflttltlsi1101XMxil lxitWltx(lyxdtl!l�YKY(=
<br />x Ak
<br />cR�Ch
<br />as ��iAOO(ctt�tl��xtat nt�txtttxoxtx
<br />(1) XW) ground rents, taxes, assessments, fire and other hazard
<br />insurance premiums;
<br />(It) Xxxi interest on the note secured hereby;
<br />(III )fiA amortization of the principal of said note; and
<br />( IV)Xjo� late charges.
<br />Any deficiency in the amount of such aggregate monthly pay-
<br />ment shall, unless made good by the Mortgagor pnor 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 (49) for each dollar ($1) of each pay-
<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 />I
<br />L�
<br />
|