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Tbhr IM «tgagae ql .ewe fdhy In IW~ the security of
<br />" IMae1pM. agaaaa:
<br />I. 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 />it
<br />h
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<br />grouted rents, taxes, asuasment$. fire and other hazard
<br />premiums;
<br />111) interest on the note secured hereby;
<br />(ll) I
<br />(1 I I )L��tr1� iuti °n of the principal of said note; and
<br />(IV)Xffi late charges.
<br />Any deficiency in the amount of such aggregate monthly pay -
<br />ment "I. unless mid good by the Mortgagor prior to the due
<br />date of the text such payment, constitute an event of default
<br />under this mortgage. The Mortgagee may collect a "late charge"
<br />tat to exceed fact cents (Ig) for each dollar (51) of each pay-
<br />87-. 102878
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<br />meet more than fifteen (13) days in arrears to cover the extra ex-
<br />pense involved in handling delinquent payments.
<br />3. Th i(( the total of the payments made by the Mortgagor
<br />under Al paragraph 2 preceding atoll exceed the amount of
<br />payments actually mode by the Mortgagee for ground rents, taxes
<br />and assessments or insurance premiums, sa the case may be, rub
<br />excess, if the loan is current, at the option of the Mortgagor,
<br />shall be credited by the Mortgem on subsequent payments to be
<br />made by the Mortgagor, or refunded to the Mortgagor. if,
<br />( rr�� the Monthly Payments trade by the Mortgagor under
<br />(Mxdf• &0 2 preceding shall not be sufficient to pay
<br />ground rents, tax" and saeuattana or insurance premiums, as
<br />the can may be. when the same shall became due and payable,
<br />then the Mortgagor shall pay to the Mortgagee any amount
<br />necessary to make up the deficiency, on air before the date when
<br />payment of such ground rents, taxes, aueuments. 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 />sectored 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 Mort -
<br />Ngor
<br />X
<br />X
<br />jremaming tot 01ja§um u jupo, isions
<br />Of (Mbrlparagraph 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 unto))((pp)) of paragraph 2 preceding,
<br />as a credit against the amount of priRipal then retraining unpaid
<br />under said yy X tMk�ftXa A � 7 TX"'"*
<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 />3. 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 levied 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 win not make this loan
<br />usurious), but excluding any income tax, State or Federal, im-
<br />posed ten 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 Mongagee
<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 aixnthf 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 />Pa" 2of4
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