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103724
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<br />(a) *Y A sum equat to the grearnd 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, phts taxes and assessments next due
<br />on the mortgaged property (all as estimated by the alurtgagee) less all smus already paid therefor divided by the
<br />number of mouths 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 spet-ial assessments-, and
<br />(b)jt All payments mentioned in the twn preceding subscciiwis of this paragraph and all payments to be made under
<br />the note secured hereby shall he added together. anti the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to life following items in the order set forth
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<br />(1) ground ants. taxes, asSessuicttts, fire and wher hazaid insurance pwonums',
<br />(1 I) 49M interest on the note secured hereby; and
<br />(1 11)t amortization of the principal of said note.
<br />Any deficiency in the amount of any such iggrepte nninthly pavutent shall. unless made good by the Mnrt-
<br />gagor prior to the due date of ;tie next such payment r,.,!,tuute an neat of defanh raider this mortgage. The
<br />Mortgagee may collect a "late charge" not to exceed 1, ,,f . nis (•Ill tot each doilar IS I I of each payment more
<br />than fifteen ( 15I days an arrears it) Inver the extra expense involved fit handling deiutquent payments.
<br />(a)
<br />`I. That if the total of the payments made bt the Mortgaeor under exxlxof paragraph " preceding . =hall exceed
<br />the amount of payments actually made by the ilortgagee for eround rents. taxe and asme smenl� or insurance pre-
<br />miums. as the ca..e may be, such excess, if the loran is current, at the option of the Ftortgagor, shall he credited by
<br />the Mortgagee on subsequent payments to he made by the Mortgagor, or refunded to the Mortgagor. If. however, the
<br />monthly payments made by the ;vhxtgagor under fxAxof paragralih _' preceding shall not be sufficient to pay ground
<br />rent, taxes and as. essments or insurance premiums. a- the vase may he when the same shall become due and pay-
<br />able, then the Mortgagor shall pay to the Mortgagf -P any amount rlece -sary to make up the deficiency, on or before
<br />the date when payment of such ground rents, taxes, as- essments or in- urance premiums -hall be due if at anv
<br />time the Mortgagor shall tender to the Mortgagee, in accordance with the preavi -ions of the note .secured hereby,
<br />full payment of the entire indebtedness represented tltereby, the 1lortgagee shall- in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor ( } (Sii2ScR>l�ypS��x' 5�5rk,(�ffixRSSFytSc3F )C tiiEilxSi�rrBt�FifPdrS!{ ax
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<br />fijllii any balance remaining in the funds accumulated under the provi sion.- dP)ferlxrf parugraph 2 hereof. If there
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<br />shall be a default under any of the provisions of this nmrrttage resulting in a public -ale of the premises covered
<br />hereby. or if the \lortgagee acquire' the property otherwise after default, the \lorwagee -hall apply, at the time of
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<br />the commencement of such proceedings, or at the time the property i- otherwire acquired, the balance then remain-
<br />ing in the funds tlCenrnnl;Lted under4 )f paragraph 2 preceding, as it credit at;aut-a the annum of principal then
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<br />remaining unpaid under -aid note. tM7tixilwirF, pert{ wt> L% xttt (puoAtfuaxprtatrowslrncfrof►itb xataalkfwewrulwexxmctrtk «worbrrr *eulxx
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<br />charges, tines, or impomlions. for which provision hit, not hcen rnede heieuibeforc, end in default thercof the Mortgagee may
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<br />pay the same; and that the Mortgagor will promptly deliver the ofiinal rrtriprs therefor to the Mortgagee,
<br />°. The Slortgagur will pay all ;axe, which niay he !cured upon the \lorrgagec', interest in ,aid real estate and nnprove
<br />ments, and which may he levied upon thls mortgage ,n the debt ,ccured heich} ihut ,fill lo the extent that such is not prohibit-
<br />ed by law and only to she extent that such will not mike this loan usurunas(. but excluding any income ta\, State or Federal,
<br />imposed on Mortgagee, and wall Mile the othcial receipt show mg such pay merit with the Mortgagee I'pon violation of this under-
<br />taking, or if the Mortgagor is prohibited by an Law now or he rcafteI exiting train pay dig the w hole or any por tfor, of the afore-
<br />said taxes, or upon the rendering of any Court decree prohihiiing the pay men( by file Mortgagor or any such talcs. or if such law
<br />or decree provides that any amount s, paid by the Mortgagor ,hall he credited on the mortgage debt, the Mortgagee shall have
<br />the right to give ninety day, written notice to the owner of the mortgaged premise,. 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 nincly day,.
<br />6. Thai should he fail to pay ant sum or keen any c,ven.in( provided for in this Mortgage. then the Mortgagee, it ill op
<br />lion. may pay or perform the same. and all cvpenditures so made shall he added n, the principal sum owing on the above note.
<br />shall he secured hereht. and shall hear interest at the rate set forth tit the said note, until paid
<br />'. ghat he herehv assigns. transfer, and sets over to the Mortgagee, to he applied toward the pavtncnt of the note and all
<br />sums secured hereby in case of a default tit the performance of any of the terms and conditions of this Mortgage or the said
<br />note, all the rents, revenues and income to he derived from the mortgaged premises during such time as the mortgage indebted-
<br />ness shaft remain unpaid. and the Mortgagee shall have power to appoint any .,gent ar agents it ntav desire for the purpose of
<br />repairing said premises and of renting the same and collecting the tents. revenues and income, ,rid it may pay out of said in-
<br />comes all expenses of repairing said premises and necessan• commissions and c spcn,c, incurred in tenting and managing tire
<br />same and of collecting rental, therefrom. the balance remaining, if any. (o he applied toward the discharge of said mortgage
<br />indebtedness.
<br />R. That he will keep the improvements now existing or hereafter erected on the mortgaged pri,perty. insured a, may, he
<br />required from time to time ht the Mortgagee against loss by fire and other hazard,. casualties and contingencies in such
<br />amounts and for such periods as may he required by the Mortgagee and "ill pay promptly. "hen due. anv premiums in ,rich
<br />insurance provision for payment of which hits not heen made hcreinhefore. All in,utante shall lie carried In cornpames ap-
<br />proved by the Mortgagee and the policies and renewals thereof shall he held by the Mortgage( and have a(ta, hell thereto Joss
<br />payable clauses in favor of and in form acceptable to the Mortgagee In event of lox, Mortgagor wdl Fuse rmnicdaane notice by
<br />mad to the Mortgagee. who may make proof (if loss if not made promptly by Moatgagot, and each in,roance :oniftany con
<br />cerned is here y authorized and directed to make payment for ,rich less directly to the \lortgagee in,tead if to file Mortgagor
<br />and the Mortgagee johrtly. ;wild the insurance proceed,. or any part thereof, may he .ipphcd by the Mortgagee at its option either
<br />to the reduction of the itxleoslcdne,s herchv secured or to the restoraiuon or rep,nt of the properry damaged In cv tint of fora to
<br />sure of this mortgage or other transfer of title m the mortgaged property in extinguishment of the mdehledne„ soured herchv ,
<br />-JI right, title and interest of the Mortgagor in and litany insuroicc policies then in force ,hall pa„ to the part h:a,et or Fr anice
<br />4. ghat a, additional and colluteraf ,e,unty Fur the pay anent of the note dc,tua,cd. and :di sum, to he-mie lue under thi,
<br />mortgage, the Mortgagor hctchv assign, to the Mo rigagee all prom,, revenue, . rovahtr, right and henciu. et truing i„ the
<br />Mortgagor under any :and all oil and ga, Ic esv, tin said preno,c,. with the right ❑. rrt en t and ref ell +t tar the game . +rid apph
<br />them to said indebtedness es well Ikf,re a, after Jefautt in the to ^dition, ,f this, ni„ng.,gc .tnd the \t„rtgay;ct •,I , demand. 'tit .
<br />ff,r and recover seat such patme:ns uticn due ind pavahk but 4iall n,�t bc'ryt ar,? ., le do Ihr tc.ww,
<br />and belUnte' miff and v-d InXM rrlc211e of the, awouaim
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