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<br />(a) () A sum equal to the ground ants', d anv, next due, plus the premiums that will next become due and payable on
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property 1it11. estimates! by the iVortgageci less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and
<br />assessment$ will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents. pre•
<br />miums, taxes and special assessments: and
<br />(b) (a) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the amie pte amount thereof shall he paid by the Mortgagor
<br />each month in :t single payment to be applied by the Mortgagee to the following items to the order set forth:
<br />c
<br />(1) (Jft ground rents. taxes, assessments, fire and other hazard insurance premiums;
<br />(11) tW interest on the note secured hereby; and
<br />amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Ylort-
<br />gagor prior to the due date of the next such payment, constitute an event :,f default under this mortgage. The
<br />Mortgagee may collect it "late charge” not to exceed rr :.* c:cnis 14x1 lof each dollar 6 11 of each payment mare
<br />than fifteen (15 ) days III arrears to cover the extra expense involved in handling delinquent payments.
<br />That if the total of the payment., made by the Mortgagor under ox "of paragraph '1 preceding shall exceed
<br />the amount of payments actually made by the 5longagee for ground rents, taxes and assessment•, or in.suranc(i pre-
<br />miums, as the case may be, such excess, if the loan is current, at the option of the Mortgagor, shall be credited b%
<br />the 5lortgagee on subsequent pa)ment -s to be made by the Morhaagor. or refunded to the 1lortgagor. if, howe%er, tite
<br />monthly payments made by the Mortgagor under';eoi paragraph ' preceding shall not he sufficient to pay ground
<br />rent, taxes and assessments or in- uranc•e premium as the ca. -e mac he. when the ,ame ,hall became due and pav-
<br />able. then the 1lortgagor shall pay to the llortgattee any :'mount necessan to make ill) the deficiency, on or before
<br />the date when payment of such ground rents. taxe assessments or in -uranc a premiums shall he due. If at anv
<br />time the %longagor shall tender to the Mortgagee, in accordance with the provisions of the mote secured hereby.
<br />full payment of the entire indebtedne-_= represented thereby, the Mortgagee =hall. in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor
<br />Y.vausuuvvscvvic v... i..... y� ................................_ ...._........-- -------- ----- - --
<br />tiny balance remaining in the funds accumulated under the provi :ion= of (bof paragraph 'l hereof. if there
<br />shall be it default under any of the proyi ions of this mortgage resulting in a public- sale of the premise- covered
<br />hereby, or if the 1lortgagee acquire- the property otherwi�e after default, the lfortgagee shall appl %. at the time of
<br />the commencement of such proceedings, or at the time the properly is othentise acquired, the balance then remain-
<br />ing in the funds accumulated under t'& Of paragraph " preceding, :t- it credit avrain,l tilt, amount of principal then
<br />remaining unpaid under .,aid notes
<br />MINIMUM=
<br />J. That the Mortgagor will pay ground rents, taxc,. assessments. et,ter Imes. and other governmental or municipal
<br />charges, tine,. or imposition,, for which provision ha, m,t i,een made here;nhefore. and in default thereof the Mortgigee may
<br />pay the same: and that the Mortgagor will promptly deliver the offit sal receipt, therefor a, the Mortgagee.
<br />`.
<br />The Mortgagor will pay all taxes which may he levied upon the Mortgagee , interest in said rc;u e ,rate and improve-
<br />ments. and which may he levied upon this mortgage or the debt,ecured herehv fbut only ro the extent that such is not prohibit-
<br />ed by law and only to the extent that such will not make this !;,;m usunousi. but excluding any income tax. State or Federal.
<br />imposed on Mortgagee. and will file the official receipt show Ing such payment with the ylortgagee, l!pon saolation of this under-
<br />taking, or if the Mortgagor is prohibited by any taw now or hereafter existing from paying the whole or any portion if the ufme-
<br />said taxes. ar upon the rendering of any court decree prohibiting the payntenr by the Mortgagor or any such [smog,. or if such law
<br />or decree provides that anx amount so paid by the 11ot'tgagoi shit]; he credited ,m the mortgage debt. the Mortgagee shi%!l have
<br />the right to give ninety days written notice to the owner of the mortgaged premise:, requiring the pay mcni of the mortgage
<br />debt. If such notice he given, the said debt shall become due. parable and collectible at the expiration of said mnetx day,
<br />6. That should he fail to pay anv sum or keep ant covenant provided for tit this Mortgage. then the Mortgagee. at it, op
<br />tion. may pay or perform the same. and all expenditure, so made shall he added u, the princtp :d sum o k mlz on the abot e note,
<br />shalt be secured hereby, and shall hear interest at the rate set forth in the said note. until paid
<br />That he hereby assigns, transfers and sets over le the Mortgagee. to hr applied toward the payment of the note and all
<br />sums secured hereby in case of a default m the performance of any of the terra, and condition, of this Mortgege or the ;iiJ
<br />note. all the rents. revenues and income to Ise derived from the mortgaged premises during such lime as the mortgage indebted-
<br />ness shall remain unpaid: and the Mortgagee shall have power to appoint any iigent or agent, it may desire for the purpo,e of
<br />repairing said premises and of renting the same and collecting the rents, revenues and income. and it may pat oiit of said in-
<br />comes all expenses of repairing said premises and necessary commissions and expense, incurred in renting :and in ;,paging the
<br />same and of collecting rentals therefrom: the balance remaining, if any. to he applied toward the discharge of said mortgage
<br />indebtedness.
<br />8. That be will keep the improvements now existing or hereafter erected on the mortgaged property, insured :, m;o he
<br />required from time to time by the Mortgagee against loss by fire and other hazard,, ca,ualties and contingencies in much
<br />amounts and for such periods as ntav he required by the Mortgagee and will pay pron':ptly . when due. ant prennrun, on such
<br />insurance provision for payment of which has not been made heremhefere •Ill insurance shall he ,tarried to corrtpcmies gip -
<br />proved by the Mortgagee and the policies and renewals thereof shall he held hp the MortgTigre :and tease atUiched thereto lo„
<br />payable clause: in favor of and in form acceptable to the Mortgagee. In event of loss \long ;,goo 11111 gtcc tntmedaatc• noose by
<br />mail to the Mortgagee. who may make proof of loss if not made prumpth by %lorigagor. and each insurance :ompam con
<br />cerned is hereby authorized and directed to make payment for such los, direct]% to the Mortgagee instead of to the Mortgagor
<br />and the Mortgagee jointly. anti the insurance proceeds. or any part thereof. Ina% he applied hx the V oiigagec ,u it, option either
<br />to the reduction of the indthltdne„ here! *y secured ar o the re,toranon or repair r.f tile d:unaged. In cent o? fi're',',,
<br />sure of this mange or other transfer if title to the mortgitgcd ptopertt in c xringuishment a? the indehtednes, ,vcurcd hercbx
<br />all right. tick and interest of the %fortgawr ire and to am in,ur me pohcte, then to 4ate steal' ; n, t,• the l,ur, hone; „, cr,u,tec
<br />y Tbmf as addilionat and nlltte•ral wicurrtt io7 the paN menr ,!1 the n „Ic dec,nneJ..mti .all .urn, I,` 11C, on?, disc' :tl&l tilt, Is`
<br />mortgnKx, the Mofigatiot ►eight a,stgris i,t the Mot -tiger. At profits avenue• not alai, ns•ht. suss] ?k•r,eht, :,,.,.a!ni r,. 'hr cut
<br />Mortgagor under any and II iml aged liar !case, on ,old pre!nnr, 'kith tilt' rilzhi r.' ti,rnr nd ! :u'y,t I "t .h, nr,r oaef
<br />Them to •atd [Imlehrrdness a, ,+cut Isct,oc as after det ;'ull iii the ,,anitnon• :,f 01" n„!V.. •c 0 she y1;,rt aces ,:n sic ni ,r•,+ ,uE
<br />for arxi re "Cl .one <ach t a. :ate +�[, ' hen due !?.I 1 *ae,hk, but hall not !r re. s,uu r.? .1.• Ci, .. sae
<br />;and bec.uts•. rt,ll c,n,t ••ua.t _ ��: rcica s, „'f this m.'rigare
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