86103235 - Laserfiche WebLink

Browse

86--- 103235 >ll �ktriothr +>�eae�l�ttcRit►tttw�tttt IS manyffm am �` (a A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and Y' a able on [ ' policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property fall as estimated by the Morrgageet less all sums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre- miums, taxes and special assessments; and (bjGt7jX All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under the note secured hereby shall he added together, and the aggregate amount thereof shall be paid by the Mortgagor each month in a single payment to be applied by the Mortgagee to the following items in the order set forth: NftWlltYtRkRkRipOi> afemN11c7i�ttxtnmEWW> �ft6c1tM9tKxARKxxkktAbOciiwcytxAytzltiblwutingiumuF >a=+ootxi3orolw�>nuo� exxneksa gcx ¢irNraxirotQwr�b>r�,�cn>p,t *xf xx (1) Qkk ground rents, taxes, assessments, fire and other hazard insurance premiums: (1 1) (UW interest on the note secured hereby.- and (III ]RXJA amortization of the principal of said note. Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mort- gagor prior to the due date of the next such payment constitute an event of default under this mortgage. The Mortgagee may collect a "late charge" not to exceed four cents Ole) fur each dollar (S 1) of each payment more than fifteen 0 5) days it arrears to cover the extra expense involved in handling delinquent payments. (a) :1- That if the total of the payments made by the Mortgagor under /%tt;iof paragraph 2 preceding shail exceed the amount of payments actually made by the Mortgagee for around rents, taxes and assessments or insurance pre- miums, as the case may be, such excess, if the loan is curcent, at the option of the Mortgagor, shall be credited by the Mortgagee on subsequent payments to be made by tit(, 1lortga9 or. or refunded to the Mortgagor, If. however, the monthly payments made by the Mortgagor under i�f paragraph 2 preceding shall not be sufficient to pay ground rent, taxes and assessments or insurance premiums. as the case may be. when the same shall become due and pay- able. then the Mortgagor shall pay to the Mortgagee any amount necessary to make up the deficiency, on or before the date when payment of such ground rents, taxes, assessments or insurance premiums shall be due- If at any time the Mortgagor shall tender to the Mortgagee, in accordant•(, with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the Mortgagee shall. in computing the amount of such indebtedness, credit to the account of the Mortgagor 311 oartnerur; made uruleL the »utvisions of ialsrf.naraeravh2 -_ "4 any balance remaining in the funds accumulated under the provisions ttiR lAfef paragraph ? hereof, if there shall be a default under any of the prod =ions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee shall apply, at the time of the commencement of such proceedings. or at the time the property is otherwise acquired, the balance then remain- ing in the funds accumulated under)• 4 paragraph ° preceding. as it credit against the amount of principal then remaining unpaid under said nose. atk�gxJb�> tltjlti fxilitk>lit*li9@i3t1i*xk'i�lfi} Ilk) IRiic) tiltiiFSrXlt >gcptiSEiFic>E4tii)FlfxdditiCxz ockin- l¢rgtitx3x 4. That the Mortgagor will pay ground renh. (axe,. :r „ts,ments, water rate,. and ether governmental or municipal charges. fines. or impositions. for which prrivi,ion ha, not been made hereothefore, and in default thereof the :Mortgagee may pay the same: and that the Mortgagor will promptly deliver the official receipts therefor io the Morti- ,ag cc. 5. The Mortgagor will pay all (axe, which may he levied upon the Mortgagee's interest in ,aid reed estate and improve- ments. and which may be levied upon tor, mortgage or the debt secured hereby (hill only to the extent that such is not prohibit- ed by law and only to the extent that such will not snake this loan u,urittu,l. but excluding any income tax. .State or Federal. imposed on Mortgagee, and will file the official receipt showing such pay ment w i;h the Mortgagee. L'pon violation of this under- taking. or if the Mortgagor is prohibited by :iny law now ur hereafter existing from pay ing the w hole or any portion of the afore- said taxes, or upon the rendering of anv court decree prohibiting the pay ment ht the Mortgagor or any such taxes. or if such law or decree provides that ant amount So paid by the Mortgagor ,hall he credited on the mortgage debt. the Mortgagee Shall have the right to give ninety days' written notice to the owner of the mortgaged premise,. requiring the payment of the mortgage debt. if such notice be given. the said debt ,hall become due, payable and collectible at the expiration of said ninety day,. 6. That should he fail to pay any sum or keep any covenant provided for in this Mortgage. then the Mol tga :gee. at it, op- tion, may pay or perform the same. and all expenditures ,o made ,hall he added to the principa sum ow ing lilt the ahoy c little. ,hall he secured herehy. and shall hear interest at the rate set forth in the ,,lid note. until paid 7. That he hereby assigns. transfer, and set, over to the Mortgagee. to he applied tovuud the pay merit of the note and all sums secured hereby in case of a default if) the performance of any of the tern, and condition, of this Mortgage or the ,aid note, all the rents, revenues and income to be derived from the mortgaged premises during Such time as the mortgage indebted- ness shall remain unpaid: and the Mortgagee shall hale power m appoint anv agent or agents it may de,ire for the purpose of repairing said premise, and of renting the same and collecting the rents, re\critics and income. and it may pay out of said in- comes all expenses of repairing said premises and necessary commission, and expenses incurred in renting and rnunaging the store and of collecting rentals therefrom. the balance remaining, if any, to be :applied toward the di,charge of ,aid mortgage indebtedness. 8. That he will keep the improvements now existing or hereafter erected on the mortgaged property, insured a, may he required from time io time by the Morigaigee against loss by fire and other haiards, casualties and contingencies in such amounts and for such period, as may he required by the Mortgagee and will pay prompth , when duc, any premium, on rich insurance provision for payment of which has not been made hereinbefore All insurance hall he carried in ionlpanics ap- proved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto loss payable clause, in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor w ill gi%e immediate notice by mail to the Mortgagee, who may make proof of loss if not made promptly by Mortgagor, and each insurance company con cerned is hereby authorized and directed to make payment for Such loss directly to the Mortgagee in,tead of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof, may he applied M the Mortgagee at its option either L to the reduction of the indebtedness herehy secured or to the re,airttion or repair of the properrx damaged In went of foieclo sure of this mortgage or other transfer of title to the mortgaged property in cxnngui,hntent of the mdchtcdocS, secured herehy. all right, title and interest of the Mortgagor in and to any insurance policies then in force ,hall pass to the purchasci or grantee. 9. ghat au additional and collateral security for the payment of the note described, and all sum, to hecomc due under this mortgage. the Mortgagor herehy aS ignS to the Mortgagee all profils. revenue,. royaltie,, right, and henctit, (,thong to the• Mortgagor under tm and all oil and gait tea,c'S on Said premise,. with file right to receive :md rercipt for the same and apply them to said indebtedness as well before as al'tr 'efault in the• c,inditions of this mortgage, and the Mortgagee man dc•inand. Site for and iecover ;in%,rich payment, when due d payable. but shall nor he required So to .In lilt, a „ignnicnt i, (o ternurate and b cone null and void nprn releaw of this morteagc i+ui"i "I'l