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86-102142
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<br />A Burn equal to the ground rents. It any, next due, plus the premiums that will next become due and payable on
<br />policies of fire and other hazard insurance covering the nlorteaged property, plus taxes and assessincills next due
<br />on the mortgaged property tall as esti!nared by the bi,rrgagce ll less all sums already paid therefor divided by the
<br />number of months to elapse hefore one month prior tri the dare when such ground rents, premiums, taxes and
<br />assessments will becorne dChn<lucnt. such suers R, he held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />All payments mentioned in the two preceding subsections of this paragraph tilt(] :Ill payments w be made under
<br />the note secured hereby shall be added io,_ether. and the a }krcgare amount thercot shall be paid by the Mortgagor
<br />each month in a single payment to he applied by the MorTilaeee t.) the loilowing, Items In the order set forth:
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<br />(I)) ground rents, taxes. assessments. mile and other hazard insurance premiums,
<br />(II) LIM interest on the note secured herehv. and
<br />UUMOM amortisation of the principal of said rule.
<br />Any deficiency ill the amount of any such aggrceatc nn,nthly naysrent shall, unless tirade good by tine Mort-
<br />gagor prior to the due date, of the next such pert meet, c-Istiutu: an event of default under this ttturtgage. The
<br />Mortgagee may collect a "late charge- not to cm:(vd four ant, 14,) I'M each dollar (,'� l ) of each payment nurre
<br />than fifteen ( -I -S) cliiys ie arrears Ur cover the extra expense involved in handling delinquent payments.
<br />:1. That if the total of the payments made hr the Mortgagor under i. of paragraph •_' preceding shall exceed
<br />the amount of payments actually made b% the 1lortgagee for ground rent,, taxes and asse. >.ments or insurance pre-
<br />mium.. :t.- the ease may be, such excess, if the loan is current, at the option of the Mortgagor, shall be credited by
<br />the Mortgagee on sub= equent payments to he made by the Mortgagor. or refunded to the Mortgagor.. If, hokvever, the
<br />monthly payments made by the Mortgagor under 1b aiparagraph ? preceding shall not he sufficient to pay grextnd
<br />rent, taxes; and asst ment� or insurance premium. as the tale mm' tie. when Ihc same . -hall become clue and pay-
<br />able then the ]k)rtgagor shall pay to the Mortgagee any amount neces -ark to make up Iht- deficiency, on or before
<br />the date when payment of such ground rents. taxes, assessments or insurance premiums shall be clue If at am'
<br />time the Mortgagor shall tender to the Mortgagee, in accordance nvith the proyi. >iuns of the note secured herebv-
<br />full payment of the entire indebtedne.« repre -ented thereby, the lhirtgaget, shall, in computing the amount of 'such
<br />indebtedness, credit to the account of the Morreapnr �'1Y} XJ i} GalaX3fXX} rti:YtiniLXy�Gl1t��'i����ttuuvvv
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<br />W any balance remaining in the fund accumulated under the provision- I, X, t f paragraph Y hereof. If there
<br />shall lie a default under any of flit, provlsiou� of this mortgage resulting tit a pubiic sale of the premises corervd
<br />hereby, or if the Mortgagee acquire- the property otherwise after default- file llor•t.,agee• -hall appiv, at the time of
<br />the c•ommencemenl of such proceeding' Y at the time the property i; other%i -v acquired, the balance then remain
<br />ing in the funds accumulated under (i t)ialraragraph 2 preceding, its a credit agair -1 the amount of principal then
<br />remaining unpaid under said now.,y3�¢}Qt'yr}�YByt}}zyj�L�
<br />W0W*WAM
<br />A. Thal the Mortgagor will pay ground rents. taxes, asse „rncnts. water ratter. and other governmental t +r municipal
<br />charges. fines, or impositions, for w hrch prr.vi,ion has not been made hereinhefore, and in default thereof the Mortgagee rusty
<br />pap the same: and that the Mortgagor will promptly dch%er the otfi: ial receipt, therefor to the Mortgagee.
<br />5. The Mortgagor will pay all roe, which nt:ac he fecied upon the ..%forigagec', inlcrc,l tit said real estate and improvc-
<br />ments, and which many he levied upon this mortgage (Or the dehl secured herehv (hut -nit it, the extent that such i, not prohibit-
<br />ed by law and only to the extent (hill t will nut make this loan uvuious), feu cxciuding ante Income lac• Stale or Federal.
<br />imposed on Mortgagee. and will file the official « ceipt showing stns h pacmrnt with the Mortgagee. t'pon violation of this under-
<br />taking, or if the Mortgagor is prohibited by any law novk rr hereafter eka,ung from paying the whole nr anx poilion of the alor'e-
<br />said takes. or upon the rendering of any court decree prohibiting the pat ment by the Mortutgoi or any such i:txe,. or if such law
<br />or decree provides that any amount so paid by the Mortgagor shall he credited on the niorgage dehi. the Mortgagee shall hake
<br />the right to give ninety clays' written notice It, the okvner of the mortgaged premix,. requiring the payment of the mortgage
<br />dchl. If such notice he Riven, the said deht shall become Inc. pagahic and colleclihic :n the . pirau y
<br />nn of said ninclk da,.
<br />6. ']'hill should he fail to pay any sum or keep am (ovenunt provided for in till, %lortgnge. then the Mortgagee, of its op-
<br />tion, may pay nr perform the same. and all c xpenditures ,o made ,hall he added to the principal sum owing on the ahove• note.
<br />,hall far secured hereby. and shall hear interest it[ the rate set forth in the said note. until paid.
<br />7. That he hereby assigns. transfer, and sets over lu the Mortgagee, Ili he applied toward the payment of the nuts and all
<br />sums secured herehv in case of it defaull in the performance of any of the term, .end conditions of this Moirgage or the said
<br />note. all rite rents, revenues and income to he derived from the mortgaged premise, during such time as the mortgage indet,ted-
<br />ness shall remain unpaid, and the Morig:agee shall have power to appoint an} agent or agents it mar desire for the purpose of
<br />repairing said premises and of renting the ,ante and collecting the slants. revenues and income. and it nmy pay' out of ,old in-
<br />comes all expenses of repairing said premise, and necessary comoll"ions and ekperot•s innrrrc•d in renting :Ind managing (tie
<br />same and of :ollecting rentals Iherehorn: the h:dance ietwoning, if ant. n, he :applied tok%tad the di,rharpe of said nmrtgagt•
<br />indebtedness.
<br />it. That he will keep the improvernertts now existing or hereafter etched till the mortgaged ptuperty, insured as may he
<br />required front little to tune ht lire Mortgagee against pus, t,-, lire and other haz:tds. Casu:dtie, and contingencie, in ,rich
<br />amounts and for such period, era, may he requfretl by the Mortgaget: and %kill pn promplk , %a lien due. :Ili% pr'cnunnns tin such
<br />insuiaurce provfcuun f..r payment of which has not been made heremhefore 111 in,ur.,nce• hill; he to iried in contpenie, ap-
<br />proved by the Mortgagee and the policies and renewals thereof ,hall he held by the \twtgogee ;Ind hake atlached thereto io,s
<br />payahie clause, in favor of and in form acceptable to [tie Mortgagee. In v%cill of loss Mortgagor will giae irnmediiiie notice by
<br />mad to the Mortgagee, wile nlay make proof of loss if nor made pr nlpol hl %torq:agot. ,Ind each insurance tontl,,un con -
<br />cerncd is herehv authorized and directed to make payment for such loss dircrllk lo the %Lnrgagec Instead Oil to Ihc %iortgagor
<br />:and file Ming gec )rn,Uh. and the in,urance piocet•d,, or :e k part thereat, real ilk apl i d f,v rile %fort ,ages• at 11, option ember
<br />to file rediwitoll of the indehtedne., hcrrhv secured or I., the reslor,ttion, t eel, :ur ..I rh, I,r,.pertk Jwnagcd, hr k vknt of tor:, I”
<br />sure of taus mortgage or niher elan f •r of Idic to the mong.agcd I n,perry in exnngutshnrcnt of Ihc nntehictinc„ ,.arcs( hrrel,t .
<br />.cif right, uric :end interest of Ihc %t, t} taor In Ind t„ ant insurmee politic, then in fol, .hall I : n, rn Ihc• pan, h;n r I ranter
<br />" Thal .ter ;rd,fatiorial :Intl :ud Ile -sass ,C loi:t- ids Ilia• p.:Is Inert of (he note dr„ rihcd cold .dl 'o "I, I,, 11C, ., slut r.... iii Ihc,
<br />morlual't. the %lolimgol Irrrrhe ,fNslgns to the \Itrtigagee :di n.nht,. n.•iruue, Io%,dIlr, nl:ht, .nd henrht, ;.,Iron=• l.• li.r
<br />'4141949 44 dust's rnv .Jed dlf nil cunt pat, I,- ,C, tan ,•dIl Inrnn,e,. •.,rah rile Tlehl r. ..nl; ,r,.rr,,l 1,11 !h,-
<br />rhtvn ."lJ udt�hre =.tors - ;. ., ell ovfore i,jftrrdr Lwit ill the: nudtnnn•• „I till, w it .re, It,iIt% %I.•Il�urr� I,. :,i�..Ii.u,•
<br />fn+ "trtt ., . .;r.; „scalp , , I .rr.r, ,, It- n der .:od I`., ,his Intl
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<br />.and ...anr!n.t },- .a•I,i. ;t,.,, clra,c .•1 tern-. �n.rth : :rp•,.
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