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-' 104050
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<br />A sum equal to the ground rents, if tiny, 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 title
<br />on the mortgaged property (all as estimated hr the Afortgagee) less all sums already paid Ulerelor divided by the
<br />number of months to elapse before one month prior it, tire date when such ground rents, premiums, taxes and
<br />assessments will become delinquent. such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments; anti
<br />All payments mentioned in the two preceding sabsectior?s of this paragraph anti all payments to be made under
<br />the note secured hereby shall be added together. and the acregate amount thereof shall be paid by the Mortgagor
<br />each 'month in a single payment to he applied by the Mortgagee to the ;olinwing items to the order set forth:
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<br />(I) (7 k ground rents, taxes, assessments, fire and other hazard insurance premmnls;
<br />(11 ) (XJW interest on the note secured hereby: and
<br />(f t t )(Ak* amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mort-
<br />gagor prior to the due date rtf the next such papnle ;o. ct;nstttule an %vent of default under this mortgage- The
<br />Mortgagee may rnliect a "late charge" not to exceed h,t.r cents t-lit) for each dollar (SI ) of each payment more
<br />than iif[cen ( 15) c :i,,s in arrears to cover the extra expense involved in handling delinquent payments.
<br />(a)
<br />That if the total of the payments made be the Mortgagor under rfat>,rf paragraph 2 preceding shall exceed
<br />the amount of payments actually made by the llortLiatme for ground rents, taxes and assessments or insurance pre-
<br />miums, a-s the case may be, such excess, if the loan is current, at the option of the Mortgagor, shall he credited by
<br />the Mortgagee on subsequent payments to be ma a by the Mortgagor, r refunded to the Mortgagor. If, however, the
<br />monthly payments made by the Mortgagor under !lid) o if paragraph ' preceding shall not be sufficient to pay ground
<br />rent., taxes and assessments or in- urance premiums. as the cams- may be, when the same shall become due and pay-
<br />able, then the Mortgagor shall pay to the Mloriga;gee any amount necessary to make up the deficiency, on or before
<br />the date "hen payment of such ground rents, taxes. as, e sment= or insurance premiums .shall he dtte. if at any
<br />time the Mortgagor shall tender to the Mortgagee, in accordance tcith the provisions 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 i} pxl}} ty{ g�� }iy4;!t44;h524i�t,FP;iE4g81�r.
<br />anv balance remaining in the funds accumulated under the provisions dlbifkykf paragraph 2 hereof. If there
<br />sTiall be a default under anv of the provisions of this morigage re ultinz in it public sale of die premises covered
<br />hereby, or if the %ortga;gee acquires the propert} otherwise after default, the Mortgagee shall apply. at the time of
<br />the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then remain-
<br />ing in the funds accumulated under 0, ailf paragraph 2 preceding. as a credit against the amount of principal then
<br />remaining unpaid under said note, xx X KrRft & Atil AR)t19 0 il3liE0RXVN5ikxi2 kA !Pt �kii *iARAAlSc>EWA%itikXX
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<br />d. That the Mortgagor ,ill pasf3f�3ikiE�4iti�i�EE>YEi{E3�
<br />charges. fines. or impositions. fur w hick provision has net been made hereinbeftire. and m default thereof the Mortgagee may
<br />pay, the same. and that the Mortgagor will promptly deliver the official receipt, therefor ill the Mortgagee.
<br />'5. The Mortgagor will pay all uvw, which n :ay he laded upon the Mortgagee's interest in said real estate and improve-
<br />ments. and which may he levied upon this mortgage nr the debt secured hereby (but only to the extenl that such is not prohibit-
<br />ed by law and only to the extent that such will not make thi; loan u.urioust. hill excluding :my income tax. State or Federal.
<br />imposed on Mortgagee. and will file the official receipt sho"ing,uch pat orient with the ,Mortgagee. Upon violation of this under-
<br />taking. or if the Mortgagor is prohibited by ;any law now or hereafter existing from paying the whole or any portion of [he afore-
<br />said taxes, or upon the rendering of :u,% court decree prohibiting the payment by the Mortgagor or any such taxes, or if such la"
<br />or decree prov ides that amt amount so paid by the Mortgagor ,hall he credited on the mortgage dehi, the Mortgagee shall have
<br />the right to give ninety days' to ritten notice ill the owner of the mortgaged premi,es. requiring the payment of the mortgage
<br />dehi. If such notice be Liven, the said debt shall become due, payahle and collectible at the expiration of ,aid ninety days.
<br />h. That should he fail to pay any ,ant or keep any covenant provided for in this Mortgage. then the :%Mortgagee. at its op-
<br />tion. may % pay or perform the ,arnc. and all expenditures so made shall he added to the principal sum o" ing on the ahove note.
<br />shill] he secured hercht. and ,hall hear interest at the rate set forth in the said note. until paid
<br />That he hereby assign,, tr,n,Ser, and sets over to the Mortgagee. w he applied toward the payment of the note and all
<br />sums secured herehy in c.,,e of it default in the performance of any of the term, and conditions of this Morledge or the said
<br />note, all the rents, revenues and income to he derived from the mortgaged premi,e, during .rich time :t, the mortgage Indebted
<br />ness shall remain unpaid: and the Mortgagee shall have power to appoint any agent or agent, it may desire for the purpo,c of
<br />repairing ;aid premises and of renting the Name and collecting the rents, revenues anti miorne. and it may pay out of ,aid in-
<br />comes all expenses of repairing ,aid premises and necessary comnti ;lion, and expense, incurred in renting and managing the
<br />same and of collecting rental, therefrom: the balance remaining, if any. to he applied to " : :rd the dncharge of ,aid mortgage
<br />indebtedne,s.
<br />X. That he will keep the improternents now existing o, hereafter erected on the mortgaged property, insured a, nlat he
<br />required from time to time by the Mortgagee against loss by tiro and tither ha/aids. ca,aallics and conhngencie, In :1ch
<br />amounts and for such period, its niat he required by the Mortgagee and will pay promptly. ,,hen duc. any pre•nliunts on such
<br />insurance provision for payment of which has not hLen made hereinbefore All insurance .hall Iti carried in companies ap
<br />proved by the Mortgagee and the policies and renewal, thereof shall he held by the Mortgagee and hate attached thereto h,,,
<br />pa,, ahle clauses in favor of and in foam acceptable it, the Mortgagee in event of toss \Mortgagor will give immediate notice ht
<br />mail to the Mortgagee. who may make proof of loss if not made promptly by Mortgagol, and cash insurance cnaipilm con-
<br />cerned is hereby authorized and directed to make payment for rich loss directly to the Mortgagee in,tcad of to the %torle,gor
<br />and the Mortgagee toia[ly. and the insurance proceeds, nr any part thereof, m.ty Ise apnhcd ht the Mortgagee at it, option either
<br />ho the reduction of the III&Ncdnc,s fierehv secured or to the restoration or repair of the piopciit dam,:ge,i. In ct cot of forcelo
<br />,tire of this mortgage or other a -"inter of tithe to [he morlgagcil properly m extinguishment of the indebrcdnc„ sc,,urcd hcrcht
<br />:rti righ[, title and interest of the Mortgagor in and to any inst i.ir "c policle, then in fore e ,hall pa" ,o the pure baser ,,, etantec.
<br />9 That as addilion.l and collateral securih for the pal mcw of the note dc•,enhed..md .1P swim, in bc,ornc duc under thl,
<br />mortgage. the Mortgagor hcrcht ,. signs to the Mortgagee. all protit, revenue,, roe t'ile's ;chi, .,nd hcnchts !,.ruutg W the
<br />%lump ), f inder o. e d t it and ea, let oil ud flh Tile light t t . c up; r h, r, '
<br />than to ,a r] ind h wine a -<tl before pis ft r i ar I to Ih • , r tna,m, t till, t tc i. l the M ± Tc !11, .i.
<br />f„r .pro remit: w, !,h ,, ..acne, ,then uuc .,rid pat;ahic. but .heal ntn t o e'11W. 117t,
<br />.ind pint ,end ad :.r; *nn rch•.,— ,.,f !hl, rlwile'Rc
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