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<br />MKRA
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<br />(a) ( A sum equal to the ground rents, if any, 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 fall as estimated by the Mortgagee ` 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 />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) > 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 aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the following items in the order set forth:
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<br />(j) tjj ground rents, taxes, assessments, Fire and other hazard insurance premiums;
<br />(IZ) O interest on the note secured hereby: and
<br />amortization of the principal of said flute.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the 11ort-
<br />gagor prior to the due date of the next such payment. ;:,Institute an event of default under this mortgage. The
<br />!Mortgagee may collect a "late charge" not 10 exceed tlr:r cents (4V) !or each dollar (SI ) of each payment store
<br />than fifteen (15 l days in arrears to cover the extra expense involved in handling delinquent payments.
<br />a. That if the total of the payments made bv- the Mortgagor undvotlltlof paragraph " preceding shall exceed
<br />the amount of payments actually made by the 1lortgagee for around rents, taxes and assessments or insurance pre-
<br />miums, as the case may be, such excess, if the loan is current, at the option of the Mortgagor, shall be credited by
<br />the \lortgagee on subsequent payments to be made by the Mortgagor, or refunded to the Mortgagor. If, however. (he
<br />monthly payments made by the Mortgagor under obil)f paragraph 2 preceding .shall not be sufficient to pay ground
<br />rent, taxes and assessments or insurance premiums, as the case may be. when the same -hull become due and pay-
<br />able. then the \lortMor shall pay sir the Mortgagee any amou e
<br />nt necssary to make up the deficiency, on or before
<br />the date when payment of such ground rents, taxes assessments or insurance premiums -hall be due. If at any
<br />time the Mortgagor shall tender to the Mortgagee to 4ecordance with the provision:. of the note, secured hereby.
<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 Mortgagor a> dX p�e9Ig61t�tAgtOadKto7a+ Lance 6otxwsmo77 eltxotbt5c]�tpt1R141c7�
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<br />xm&any balance remaining in the funds accumulated under the provisions of (b) of paragraph " hereof. If there
<br />shall b rt
<br />e a default under any of the provision- of this wrtgtt#fe resulting in a public sale of the premises covered
<br />hereby, or if the Mortgagee acquires the property othenvi.se after default, the lfor gagee shall apply, at the time of
<br />the commencement of such proceedings or at the time the property is othervise acquired, the balance then remain-
<br />ing in the funds accumulated under OW of paragraph _' preceding, as it credit against the amount of principal then
<br />remaining unpaid under said note, yltitcltstMtputpntioxxdaxKxtrot�xtmtaxXmtttx6t�dutiitilmrtt�e�eKaeoatt6CteutK6exXat�t
<br />a. That the Mortgagor µill pap ground rents. taxes, assessments, water rate%, and other governmental or municipal
<br />charges, fines, or impositions. for µhich provision has not been made hereinhefore. and in default thereof the Mortgagee may
<br />pay- the same: and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee.
<br />s. The Mortgagor will pay all taxes µhich may he levied upon the Mortgagee's interest to said real estate and improve-
<br />ments, and which may he levied upon this mortgage or the debt secured herehy (but only to the extent that such is not prohibit-
<br />ed by law and only to the extent that such µill not make this loan usurious). but excluding any income tax. State or Federal,
<br />imposed on Mortgagee. and will file the official receipt shoµ ing such payment µith the Mortgagee. Upon violation of this under-
<br />taking. or if the Mortgagor is prohibited by arrc W& now or hereafter existing from paving the whole or any portion of the afore-
<br />said taxes. or upon the rendering of any court decree prohibidag the payment by the Mortgagor or any such taxes. or if such Iavv
<br />or decree provides that any amount so paid by the Mortgagor shall he credited on the mortgage debt, the Mortgagee 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 he given, the said debt shall become due. payable and collectible :al the expiration of said ninety Jays.
<br />6. That should he fail to pay any sum or keep any covenant ptovided for in this mortgage, then the Mortgagee, at its op-
<br />lion. may pay or perform the same. and all expenditures so made shall be added to the principal sum alµ ing on the above note.
<br />shall be secured hereby, and shall bear interest at the rate set forth in the said note, until paid.
<br />7. That he herehy assigns, transfers and sets over to the .Mortgagee, to he applied toµard the payment of the note and all
<br />sums secured hereby in case of it default in the performance of any of the terns and conditions of this Mortgage or the said
<br />mote. all the rents, revenues and income to be derived tram the mortgaged premises during such time as the mortgage indehted-
<br />ness shall remain unpaid; and the Mortgagee shall have pmA er to appoint any agent or agents it map desire tot 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 tit renting and managing the
<br />same and of collecting rentals therefrom; the balance remaining. if any, to be applied u,w and the discharge of said mortgage
<br />indebtedness.
<br />8. That he will keep the improvements now existing or hereafter erected on the mortgaged property, insured its may IV
<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 be required b% the Mortgagee and µ ill pap promptly. when due, tuty premiums on such
<br />insurance provision for payment of which has not been made heiennhefore All insurance shall he carried in companies ap-
<br />proved by the Mortgagee and the policies and renewals thereof shall he held by the Mortgagee and have attached thereto loss
<br />payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor %k ill gtye untnediate notice I,y
<br />mail to the Mortgattec, who map make proof of loss if not made promptly by Mortgagor, and each insurance comp ;nlv con-
<br />cerned is hereby authorised and directed to make payment for such loss diiectiy u, the Mortgagee instead of to the Mortgat"Ir
<br />L and the Mortgagee jotntiy. and the insurance price-Is, or any part thetecf, may hc applied by the Mortgagee at its option cilhet
<br />to the reduction tit the indebtedness herehy secured or to the restoration or repair of the property d:unatiecl In event Of i0fC1 ?o
<br />sure of this mortgage or other transfer of ?)tie to the monigaged propefl%. in extinguishnnent of the nWcHcdness scctired hetet" .
<br />all right, title and interest of the Mortgagor in and to any insurance policies then in force shalt pass to the pun h.r.et of >;r,uttrr t`.
<br />H 1`hat as addNionaf and tollatetal ,county f,.r the pa; nit tit of the note des, d. mitt :all sums to hcccrme due unties tf-,
<br />nwrttiage, rbe Mortstagrr hereby ;assign, ta, the Mortgagee :111 phe6t. rr.ycnucs, i ,taltaes 1011, omi ' etwtits o ,fit "ILA tti the
<br />Martgagur finder :eny .,1141 t! od and seas leases m) ,arc prerm,e,, µith note raghl to roc, nr old ie:cap1 1 t the .t vie and '11111\
<br />terra to, grid tndehredne,s ;o. µell hcheae <81 :dtci default ire tilt' ,on.linon, „f this rn. i i : :wt' :ow the yl,a rgakec !!1 „v de,muld. =nc
<br />{a =r cuf f ra °s,�,air tins ,it: h poitmc•nts ,her. cioc .wa payable, but ,hall n „t l c regau r., r i,, 11ti• -a .p n�� nr i , �nr. . ;le
<br />an.( hr, mife mill .aril vna,i ;ipof1 retcavr, arf tilts ,p,'I l{ ApC
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