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00 -101533
<br />Xxx XXXX
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<br />xxx XXXXXXXXX
<br />(a) OW A sum equal to the ground Twits, if any, next due, plus the premums that will tx xt' become due and payable on
<br />policies (if fire :and other hazard insurance covering the mortgaged property, plus taxes and assessmenu next clue
<br />on the mortgaped :property (aU as estirrTatecl by the Martgage ec less all runts already paid therefor dreaded by the
<br />number of months to .elapse before one month prior to the date when such ground rents, premiums, taxes and
<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 />(b) '(k All payments mentioned in the two preceding subsections of this naragraph. and all payments to fie made under
<br />'tile note secured hereby shall he added together, and theaggregaie amount theicol shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Morigalwe <,o the following ;;erns to the order set forth:
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<br />�CXx7Cif;ICikX.XXXX XXXXXXXXXXX
<br />(1) Ift ground rents, taxes. assessments, fire and other hazard insurance premiums;
<br />(11) Mt interest on the note secured !hereby; and
<br />(111) k amortization ref the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall. unless made good by the Mon -
<br />gagor prior to the due date of the next such payment. constitute an event of default under this mortgage. The
<br />Mortgagee may collect a "late change" not to exceed tour cents (41r) for each dollar ($I ) of each payment more
<br />than fifteen (15) days it, arrears to cover the extra expense involved in handling delinquent payments.
<br />3. That if the total of the payments made by the "Mortgagor under k4 of paragraph .l preceding =hall exceed
<br />the amount of payments actually made by the Mortgagee for ground rents, tares and assessment- or insurance pre -
<br />miums, as the case:mav be, such excess, if the loan is current, at the option of the Mortgagor, shall be credited by
<br />the Mortgagee on subsequent. payments to be made by the Mortgagor, or refunded to the Mortgagor. lf, howe% er. the
<br />monthly payments made by the Mortgagor under XIAO$f paragraph _2 preceding shal! not he sufficient to pay ground
<br />rent, taxes and assessments or insurance premiums, as the case may be, when the same shall become due and pay -
<br />able. :then the Mortgagor shall pay to the Mortgakee am amount nece =sary to make up the deficiency, on or before
<br />the dale when payment of such ground rents, taxes, assessments or insurance premiums shall be due. if at any
<br />time the Mortgagor shall tender to the Mortgagee. in accordance with the provisions of the note secured heri
<br />full payment of the entire indebtedness represented thereby, the Mortgagee shall, in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor1CCFAfQ0ltIC4C4Q7d�yLtX7diex7tcatitvtarsxkitta [lei nlareeraik>2
<br />WW any balance remaining in the funds aceumu)ated antler ii, e -provisions or(
<br />jjhof paragraph ? herEOf if there
<br />shall be a default under any of the provisions of this mortgage resulting in a public ;ale of the premises covercd
<br />hereby, or if the ;Mortgagee acquires the property otherwise after default, the Mortgagee shall apple at the time of
<br />the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then remain-
<br />ing in the funds accumulated under (10'of paragraph ? preceding. as a crediC against the amount cif principal then
<br />remaining unpaid under said note.
<br />4. That the Mortgagor will pay g7ound rents, taxes, assessments, water rates - and other governmental or municipal
<br />charges, fines, or impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee mar
<br />pay the same; and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee.
<br />5. The Mortgagor will pay all taxes which may he levied upon the Mortgagec's interest in said real estate and intproke-
<br />ments. and which may be levied upon this mortgage or the debt secured hereby lhut only to the extent that such is not prohihil-
<br />ed by law and only to the extent that such will not make this loan usurious]. but excluding any income tax, State or Federal.
<br />imposed on Mortgagee, and will file the official receipt showing such payment with the Mortgagee. Upon vioiation of this under -
<br />taking, or if the Mortgagor is prohibited by any law now or hereafter existing from paying the whole or any portion of the afore-
<br />said taxes. or upon the rendering of an' court decree prohibiting the payment by the Mortgagor or any such taxes. or if such law
<br />or decree provides that any amount so paid by the Mortgagor shall he credited on the mortgage debt. the Morwayee shall have
<br />the right to give ninety days written notice to the owner of the mortgaged premises, requiring the payment of the mortgage
<br />debt. if such notice be given. the said debt shall become due. payable and collectible at the expiration of said ninety days.
<br />6. That should he fail to pay any sum or keep any covenant provided for in this Mortgage. then the Mortgagee. at its op-
<br />tion, may pay or perform the same, and all expenditures so made shall he added to the principal sum owing on the ahm e note.
<br />shall be secured hereby. and shall hear 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 he applied toward the payment of the note and all
<br />sums secured hereby in case cif it default in the performance of any of the terms and conditions of this Mortgage or the said
<br />note, all the rents, revenues and income to he derived from the mortgaged premises during such time as the mortgage indebted-
<br />ness shalt remain unpaid: kind the Mortgagee shall have power to appoint any agent or agents ii may desire for the purpose of
<br />repairing said premises and of renting the same and collecting the rents, revenues and income, and it may pay out of said in-
<br />comes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom: the balance remaining, if any, to he applied toward the discharpe of said mortgage
<br />indebtedness.
<br />R. That he will keep the improvements now existing o, hereafter erected on the mortgaged property. insured its may he
<br />required from time to time by the Mortgagee against loss by fire and other hazards. casualties and contingencies in such
<br />amounts and for such periods as may he required by the Mortgagee and will pas, promptly. when Jae, any premiums on such
<br />insurance provision for pa;;ment of which has not been made hereinbefore. All insurance shall he carried to companies tip-
<br />proved by the Mortgagee and the policies and rencuals thereon shall he held by the Mortgagee and have attached thvictu loss
<br />payable clauses in favor of and in form acceptable to the Mortgagee. in event of loss Mortgagor will give immediate notice by
<br />mail to the Mortgagee. who m.ay make proof of loss if not made promptly by Morig Igor. and each insuranc:t• company con -
<br />cerned is hereby authorized and.directed to make pa}mem for such loss directly to [tic Mortgagee instead of to the Mortgagor
<br />and the Mortgagee Jointly. and the insurance proceeds. or any part thereof, may he applied by the Morlgugec at its option either
<br />tothe reduction of the indebtedness hereby secured or it, the restoration or rep"tir (If the property damaged. In even ( Of foreclo
<br />sure cif this mortgage of other transfer of title to the mortgaged property in exurigwshn:ent of (tic mdchtcdnt!" scnnecl hcrebs .
<br />all right, title and interest of the Morrgagoi in and to any Insurance policies then tit folcc'hall pas, to the pntclw,cr or in :oIttv
<br />4 That a, additional and collateral securitf for the paymenl of the noic descrihed. kinii ;ill '111111 to hrconic• day under thi,
<br />mortgage. the Mortgagor hcrcbv assigns to the hlorrrga)Zec all profit'. rrNenut•'. TO\iillies right, , od henrlitc iwr ruing i,, Ihv
<br />Mortgagor under any and iIli oil and Put, leases on said premises. xcuh the twill t,� rv, eirr : nd ;Crrtpt 1'nr lire ':one .ono i :pp"
<br />them it, said indeb:rdnes, as well twfotr as after delauli Iii the condittims ;4 chi, 1;ol 1pig . and Ih ring I ^nitre nut dt .. ;,nri.'rc
<br />for kind reccwcr am ,uc'h p %1`11Cnls Ikhell dui :rod pavabic. but 'brill nor hr reauir;d — to & o I n :1 „Ipm)ICIli i, i,ur�,�ir
<br />and htsaorne null wit! ,old tiptm ivrvw.., of this mortgagc.
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