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<br />Odlivil'"]Finder
<br />PYR . 1
<br />X AAA
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<br />(b) A
<br />sum equXlhk9l9lFCl�lf
<br />al 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
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<br />covering the mortgaged Property. plus taxes and assessments next due
<br />on the mortgaged property (eU gs esrinwW by the Mort ecJ less all sums already Paid therefor divided by the
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<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 be tided
<br />by Mortgagee in crust to pay said ground rents, pre-
<br />miums. taxes and special assessments. and
<br />(c) 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
<br />the order set forth:
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<br />(II)
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<br />ground rents, taxes. assessments, fire and other hazard insurance premiums;
<br />(111) interest on the note secured hereby, and
<br />(IV) amortization of the principal of said note.
<br />Any deficlency ui the amount of any such aggregate monthly payment shall, unless made good by the Mon•
<br />gager prior to the due date of the next such
<br />payment, cunsutute an event of default under this mortgage. The
<br />Mortgagee may collect a ,late charge" not to exceed four cents (4g) for each dollar (511 of each
<br />payment more
<br />than fifteen (15) clays w arrears to cover the extra expense involved in handling delinquent payments.
<br />3. That if the coca! of the payments made by the Mlortgaeor under f b/ of paragraph 2 preceding shall exceed
<br />the amount of payments actually made by the Mortgagee for
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<br />¢nd 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
<br />Mortgagee on subsequent payments to be made by the !Mortgagor, or refunded to the Mortgagor. If, however, the
<br />monthly payments made by the Mortgagor
<br />under (b) of paragraph 2 preceding shall not be sufficient to pay ground
<br />rent, taxes and assessments or insurance
<br />premiums, as the case may be, when the same shall become due and pay -.
<br />able, then the Mortgagor shall pay to the :Mortgagee any amount necessary to
<br />make up the deficiency, on or before
<br />the date 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,
<br />in accordance with the provisions of the note secured hereby,
<br />full payment of the entire indebtedness represented thereby, the Mortgagee shall, in computing the amount
<br />of such
<br />indebtedness, credit to the account of the Mortgagor a 1 payments made under the provistontsfaF•'MYal
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<br />V >iRk.�tdefau t�"[1fi10lBtb tote: lllttf# 1uCE0ltIR►1xMtid;tlWi�Jt:tii� ttdis<>iiattiBbt rb� of z hereof.
<br />paragraph If there
<br />ilia)) be a defwtt under any of the provisions of this.mortgage
<br />resulting in a public sale of the premises covered
<br />hereby, or if the mortgagee "acquires the property otherwise after defwtt, the Mortgagee shall apply, at the time of
<br />the commencement of such proceedings, or at the time
<br />the propertt is otherwise acquired, the balance then remain-
<br />ing to the funds accumulated under (b) of paragraph 2 preceding, as it credit against the amount
<br />of principal then
<br />remaining unpaid under swd note) astdlsltatl proptetFM�.aQYrkkaity fit�atbplJr• w} tieA' 13itall •1is-bfi'ehiy�e't3tit�pt�ftf;
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<br />4. That the Mortgagor will par ground rents, taxes. assessments, water rates. and other governmental or municipalf
<br />charges• fines, or impositions, for which pri,�ision has not been made heretnbefore. and m default thereof the Mortgagee
<br />may
<br />pay the same: and that the Mortgagor will prompt)% deliver the official receipts therefor to the Mortgagee.
<br />5 The Mortgagor will pa% all taxes which ma} he levied
<br />u improve-
<br />ments. and which may be levied upon this morn pen the Mortgagee's interest extent said teat estate and improve -
<br />ed by law and only to the extent that such willgnot ous). exclud atax,
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<br />make this ioan usur but ngtanv income State or Federal.
<br />imposed on Mortgagee. and will file the official receipt showing such payment with the Mortgagee Upon violation of this under-
<br />taking. or if the Mortgagor is prohibited h% an% law
<br />now or hereafter exisung from paying the whole or any portion of the afore-
<br />said taxes. or upon the rendering of any court decree prohibiting the payment by the Mortgagor or any such taxes, of If such law
<br />or decree provides that any amount so by the Mortgagor
<br />paid shall be 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 be given, the said debt shall become due.
<br />payable and collectible at the expiration of said ninety days
<br />6. That should he fail to pay anv sum or keep any covenant provided for in this Mortgage, then the Mortgagee, at its op-
<br />tion• may pa% or perform the same.
<br />and all expenditures so made shalt be added to the principal sum owing on the above note.
<br />shall be secured herehv, and shall bear interest at the rate set forth in the said note•
<br />until paid.
<br />7. That he herehy assigns. transfers and sets over to the Mortgagee, to be applied toward the payment of the note and all
<br />sums secured hereby in case of a default in the performance of any of the terms
<br />and conditions of this Mortgage or the said
<br />rote, all the rents, revenues and income to he denved from the mortgaged premises during such time as the mortgage indebted-
<br />ness shall remain unpaid, and the Mortgagee shall have power to appoint am agent or
<br />agents it 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 pa% out of said in-
<br />comes all rxpen%es of repairing said
<br />premises and necessan commissions and espenses incurred to renting and managing the
<br />same and of collecting rentals therefrom, the balance remaining, if any. to he applied toward the discharge of said
<br />indebtedness.
<br />mortgage
<br />8 That he wit! keep the improvements now existing w hereafter erected on the mortgaged property, insured as ma% be
<br />required from time to time b% the Mortgagee
<br />against loss by fire and other hazards. casualties and :ontingencics in such
<br />amounts and for such penods as may be required by the Mortgagee and will pay prompt)%. when due. am premiums on such
<br />insurance provision for payment of which has not been
<br />made herembefore All insurance shall be carried in companies ap-
<br />proved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee
<br />and have attached thereto loss
<br />payable clauses In favor of and in form acceptable to the Mortgagee In event of loss Mortgagor will gyve immediate notice h%
<br />trail to the Mortgagee, who may make proof of loss If not made promptly by Mortgagor,
<br />and each Insurance company con-
<br />cerned is hereby auth rized and directed to make payment for such loss directly to the Mortgagee instead of to the Mortgagor
<br />and the Mortgagee totntiy, an< the insurance
<br />proceeds. or an _v pan thereof. may he applied h% the Mort
<br />to the reduction of the indebtednes, herehy secured or to the resruranon or repair of the ro Ragee at its optwn either
<br />sure of this mortgage of other transfer p p pert% damaged In event o(forecio
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<br />a title h- the mortgaged properh in eyunguishment of the indebtedness scsured her ehy
<br />all right, title and interest of the Mortgagor in and to an% Insurance policies then in force shalt pas, It' the purchase* or );ranter
<br />o That as add itkinal and :ollaieral set:unt% for the
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<br />payment of the note des, nhed and a!i yarn,. ro become due under th,•
<br />mungaige, the Mextgagtu hereh) assigns to the Mortgagee all pruhi% re%cnue%. ro%atttes right% and henefir% accruing 1v the
<br />Mtxtgagty under an% and III! cat and gas leases on said
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<br />premises, with the right Io retei%r anti receipt for the same and ,,pp+%
<br />them to %aid Indehledness at well before as after default In the
<br />Londitwns of this mrrtgagc and the Mortgagee ma% demand sue
<br />for And tett+sel arse such payments when dur ano pa%ahte but %hall not he reuu,tea . .,, f'hts a..I�nm. •,•
<br />and hc.c.mr nu!' Anil ._
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