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86-100714
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<br />due, the, premiums that will next become due and payable tin
<br />(a) M A sum equal to the ground rents, if any, next plus
<br />the mortgaged property, plus taxes and assessments next due
<br />policies of fire and other hazard insurance covering
<br />by the Mortgagee) less 311 sums already paid therefor divided by the
<br />on the mortgaged properly (atf as estimated
<br />to elapse before one month prior to the date when su.h ground rents, premiums, taxes and
<br />number of months
<br />assessments will become delinquent, such sums to he held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments: and
<br />subsections of this paragraph and all payments to be made under
<br />ib)" All payments mentioned in the two preceding
<br />the note secured hereby shall be added toeether, and the aggregate amount thereof shall be paid by the Mortgagor
<br />following items to the order set forth
<br />each month in a single payment to be applied by the Mortgagee to the
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<br />(I) N10 ground rents, taxes, assessments, fire and other hazard insurance prennums:
<br />f LI) fAMj interest on the note secured hereby: and
<br />(III) (AX* amortization of the principal of said note.
<br />monthly payment shall, unless made good by the Mort-
<br />Any deficiency in the amount of any such aggregate
<br />to the due date of the next such payntet constitute an event default under this morteage. The
<br />n
<br />gagor prior
<br />Mortgagee may collect a "late charge" not to exceed funs cents 141!1 for eadi dollar IS 1) of cash payment ^tore
<br />than fifteen 0 5) days in arrears to cover the extra expense involved in handing delinquent payments.
<br />by the Mortgagor under XftTuf paragraph 2. preceding =hall exceed
<br />3. That if the total of the payments made
<br />the amount of payments actually made by the Mortgagee for ground rents, tax" and arse - sments nr insurance pr
<br />is at the option of the Mortgagor• shall be credited _n
<br />current,
<br />miums. as the case may be, such excess, if the loan If, hosxescr, the
<br />�y the Mortgagor, or refunded to the Mortgagor-
<br />the Mortgagee on subsequent payments to be mat
<br />be sufficient to pas ground
<br />Mortgagor under PZ1 of paragraph 2 preceding shall not
<br />monthly payments made by the M the same shall become due and pay
<br />may be. w
<br />xwhen
<br />rent, taxes and assessment- or insurance premiums. as the case
<br />make up the deficiency, on or befor
<br />nece Sean before
<br />able. then the Mortgagor shall pay to the Mortgagee any amount
<br />the date when payment of such ground rents, taxes, assessments or insurance premiums shall be due. If at arty
<br />the note - ecured hereby,
<br />time the Mortgagor -shall tender to the Mortgagee, in accordance with the pn+sismuns of
<br />represented thereby, the Mortgagee -hall. in computing the amount of =uch
<br />es
<br />full payment of the entire indebtedness
<br />indebtedness, credit to the account of the Mortgagor xidygxrtotttxtatxtt�dtttntttaem aAxt�usxxrs'�a't�
<br />a?cxaxketxveaxstaa?c > Ytertxatx
<br />NorarbtXkkltxitx> otorxgo) txtsiuutxtuabxaatwtitikM�aaaetlxtf
<br />of x f paragraph '? hereof. if there
<br />alWany balance remaining in the funds accumulated under the provisions
<br />of this mortgage resulting in a public sale of the premises cohered
<br />=hall be a default under any of the provisions
<br />otherwise after default, the Mortgagee shall apply, at the time of
<br />the
<br />hereby, or if the Mortgagee acquires proper-IN
<br />the commencement of such proceedings �r at the time the property is othenyi�e acquired, the balance then remain
<br />amount h
<br />fit
<br />„t
<br />ing in the funds accumulated under 044 b� paragraph '2 preceding, as a credit ittP.lx Matt >+ rt
<br />unpaid under -aid note, 1L"xk:M>1Ka9Nrc} xKxravtpz9mctax
<br />remaining
<br />,A,7XxPXaPkx'x
<br />s. That the Mortgagor will pay ground rents. taxes. assessments. water rata's. and other governmental or Mortgagee m, a
<br />been made hereinbefore. and in default the Mortgagee may
<br />geteof
<br />charges, fines, or impositions, for which provision has not
<br />the same: and that the Mortgagor u ill promptly deliver the official receipts therefor to the Mortgagee
<br />the Mortgagee's interest in said real estate and improve-
<br />pay
<br />5. The 1lortgagnr will pay all taxes which may be levied upon
<br />this mortgage or the debt secured hereby (but only to the extent that such is not prohibit-
<br />the State or Federal.
<br />ments. and which may be levied upon
<br />by law and only to the extent that such will not make this loan usurious). but excluding atn income tax.
<br />Mortgagee.
<br />e the whole or anytporrtionrof the afore-
<br />imposed on Mortgagee, and wprohibited official
<br />y anyrla%snow car hereafter existing from pay n
<br />is razes. or if such law
<br />taking. or if the Mortgagor p
<br />said taxes. or upon the renderin g of any court decree prohibiting the payment by the Mortgagor or any such
<br />be on the mortgage debt. the Mortgagee shall have
<br />or decree provides that any amount so paid by the Mortgagor shall credited
<br />nine^ days' written. notice to the owner of the in premises. requiring the payment of the mortgage
<br />to of said ninety days.
<br />the right give
<br />debt. if such notice be Riven. the said debt shall become due. payable and collectible at the expiration
<br />for in this Mortgage. then the Mongagee, at its op
<br />6. That should he "ail to pay any sum or keep am covenant provided
<br />expenditures so made shall be added to the principal sum owing on the aboxc note.
<br />tion, may pay or perform the same. and all
<br />shall be secured herchy. and shall hear interest at the rate set forth in the said note. until paid.
<br />to the Mortgagee, to be applied toward the payment of the note and
<br />7. That he hereby assigns, transfers and sets over tgage or the said
<br />hereby in case of a default in the performance of any of the terms and conditions of this Sior
<br />sums secured
<br />note. all the rents. revenues and income to he derived from the mortgao nd anyagent sdorr ragents rttma desire f�rtthe purpose �f
<br />ness shall remain unpaid: and the Mortgagee shall have power to app
<br />and managing the
<br />and of renting the same and collecting the rents. revenues :+nil : ^come, and it may pay out of said he
<br />in
<br />repairing said premises renting
<br />comes all expenses of repairing said premises and necessary commissions and expernes incurred
<br />the balance remaining, if any. to he applied toward the discharge of said mortgage
<br />same and of collecting rentals therefrom:
<br />indebtedness.
<br />g. That he will keep the improvements now existing or hereafter erected on the mortgaged property. insured as may he
<br />fire other hazards. casualties and contingencies to such
<br />required from !ime to time by the Mortgagee against loss by and
<br />M required by the Mortgagee and will pay pn+mptl >'• when due, any premiums on such
<br />in ap-
<br />amounts and for such periods as may companies
<br />insurance provision for payment of which has not been made hereinbefore. All insurance shall be carried
<br />be held by the Mortgagee and have attached thereto loss
<br />proved by the Mortgagee and the policies and renewals thereof shall
<br />I give immediate
<br />in farm cr n
<br />payable clauses in favor of and acceptable ofloss if not made promptly by Mortgagortgandreaclh insurance company
<br />mail to the Mortgagee, who may make proof
<br />for such loss directly m the Mortgagee instead of to the Mortgagor
<br />cerned is hereby authorized and directed to make payment
<br />Mortgagee jointly, and the insurance Proceeds, or any pan thereof. may be :WPlicd by the Mortgagee at its option either
<br />damaged. In event of foredo -
<br />to
<br />i
<br />and ;he
<br />he eduction of the indebtedness hereby secured or to the restoration or repair r,f the property
<br />dness secured hereb>.
<br />title to the mortgaged property_ in cxttngw.hment of the indebtedness
<br />•su.
<br />of this mortgage or other transfer of to the
<br />the not edencnhed hall
<br />„; :;cot, title and interest of the Mortgagor in and to any insurance
<br />nd allssumsfto hcahme due under this
<br />n
<br />9 That :,s edditkonal and collateral security for the pa,' ent of
<br />mot tgagor hereby' assigns to the Mortgagee all profits, revenues. allies. rights and thenc its accruing to the
<br />for the same and apple
<br />ry e. 'he
<br />rr any and at! oil and gas leases on said premises. with the right t rc erse and receipt
<br />may demand, s
<br />well heforc as alter default in the condmnuns of this ^�•�r'c•��c' and the xL,rtgagee ue
<br />:+s Th_ is to termt.^•atc
<br />- udnesq ;, dt, i•,.gnment
<br />cih payments when due and payable, but shall r.ot he -.•
<br />n releau of !Ms mort¢aec
<br />
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