|
r
<br />87. 102849
<br />77u Msrtgyar M m ft order ore tuft to pirift t ere Werity of
<br />" Moegage. agree:
<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 />mint more than fifteen (15) days in arrears to cover the extra ex-
<br />pense involved in handling delinquent payments.
<br />3. T�h�y (( the total of the payments made by the Mortgagor
<br />under Wif paragraph 2 preceding shall exceed the amount of
<br />Payments actually made by the Mortgagee for grand rents, taxes
<br />2. That, together with, and in addition to, the monthly and s assessments uts loan is i insurance premium, as the � may be, such
<br />Payments of principal and interest payable under the terms of he shall be credited by the M opts of the Mortgagor,
<br />time secured hereby, the Mortgagor will pay to the Mortgagee. made by the Mon Mortgagee d o the Mort payments to be
<br />on the first day of each month until the said note is full � Mortgagor, or refunded to the Mortgagor. u
<br />the following sums: Y Paid, (dTb� the monthly payments made by tlx Mortgagor under
<br />Alf paragraph 2 preceding shall not be sufficient to pay
<br />X ground rents, taxes and aasesunrtnts a insurance premiums, as
<br />XXX the case may be. when the same shall become due and payable,
<br />then the Mortgagor shall pay to the Mortgagee any amount
<br />X necessary to make up the deficiency, on or before the due when
<br />���Xx Payment of such ground rents, taxes, assessments, or insurance
<br />Premiums shall be due. If at any time the Mortgagor shall tender
<br />Ifff(XXX for the Mortgagee, in accordance with the provisions of the note
<br />�101KX secured hereby, full payment of the entire indebtedness
<br />"Win 111121gl 11 X represented thereby, the Mortgagee shall, in computing the
<br />011 moil amount of such indebtedness, credit to the account of the Mort-
<br />gagor
<br />)bbfadfulllflx gX1lg
<br />X XXX tbaflfaettpynaf >abotgtipKtfcNMft-- l X
<br />baleen remaining in the funds accumulated under the
<br />Md Any
<br />provisions
<br />���>!r>lllbMlffXX %X of t>s><�t paragraph 2 hereof. If there shall be a default under
<br />ttlxlNf0�1ff01M -- MX XXXJ(x -(x any of the provisions of this mortgage resulting in a public sale
<br />X#flIgftt7Mft>d(X of the premises covered hereby, or if the Mortgagee acquires the
<br />XXXXX property otherwise after default, the Mortgagee shall apply, at
<br />XX the time of the commencement of such proceedings, or at the
<br />-����XXX time the property is otherwise acquired. the balance then remain-
<br />ing in the funds accumulated unddt)#$ of paragraph 2 preceding
<br />• MXA sum as a credit against the amount of principal then remaining unpaid
<br />equal to the ground rents, if any, next due, plus the under said note,
<br />Premiums that will next become due and payable on policies of fJgftdirig X�g��fNblgllXX
<br />fire and other hazard insurance covering the mort gaged property,
<br />Plus taxes and assassmenta next due on the mortgaged property 4. That the Mortgagor will
<br />(all as eat"i"d by the Mortgagee) less all sums already Pay ground rents, taxes,
<br />therefor divided by the number of months to el Y paid assessments, water rates, and other governmental or municipal
<br />(1) month prior to the date when such before one charges, ernes, or impositions, for which provision has ttm been
<br />ground rents, premiums, made hereinbefors, and in default thereof the Mortgagee may
<br />Itrcaxe M inn will tbecome delinquent, such sums to be pay the same; and that the Mortgagor will promptly deliver the
<br />taxes and s Pay and ground rents• premiums, official receipts therefor to the Mortgagee.
<br />pedal assessments; and
<br />b fQ 11 Payments mentioned in the two preceding subsections S• The Mortgagor will Pay all taxes which may be levied upon
<br />of this paragraph and all Payments to be Mack under the note the Mortgagee's interest in said real estate and improvements,
<br />secured atoll Shall be added together. and the aggregate amount and which may be levied upon this mortgage or the debt secured
<br />Raid 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 and only to the extent that such will not make this ban
<br />the order set forth: usurious), but excluding any incOme tax, State or Federal, im-
<br />posed on Mortgage, 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 />fill 111:1011, h
<br />donee =&=MAX"WWXXXX
<br />g1 76 mlimR#}pt>pBOIX
<br />1) AW ground rents, taxes, assessments• fire and other hazard
<br />premiums;
<br />(I 1) interest on the note secured hereby;
<br />(1 11)tamortization of the principal of said note; and
<br />(lv)x*Wi 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 Bach Payment. constitute an event of default
<br />under this mortgage. The Mortgagee may collect a "late charge"
<br />RCK to exceed four cents (K) for each dollar ($I ) of each Pay.
<br />6. That should the Mortgagor fait 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 />paps 2 of 4
<br />s.:
<br />J
<br />
|