86104286 - Laserfiche WebLink

Browse

L polio �- �� a tons ereun era nr (a)W A sum equal to the ground rents,'if any, next due, plus the premiums that will next become due and payable oft policies of fire and other hazard insurance cowering the mortgaged property, Pius taxes and assessments next due on the mortgaged property . tall as estimated ky the Mortgagee) 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 it, trust to pay said ground rents. Inc - mioms. taxes and special assessments; and (b)j* All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by tile' Mortgagor each month in a single payment to be applied by the Mortgagee to file following items in the order set forth: bi: # ilFfiftliJUikrtilAff�edtitnmlrtratkR> ooattw�eoaksefauatmatw�titimet�iweS' iaetootr> nexxx) dnr�inutattdrQttti 'taR>l�tverlt�at�ta�ts >ltsM/f►►�jpNc�76g1Yg7fi�t f�► i` 7F14�4trif }>�tliE�+.F�'ciFi4XXiSi�?o' (1) (Akk ground rents. taxes, assessments. fire and other hazard insurance prentiwns: (11) OLD$ interest on the note secured hereby: and { I I I fift amortization of the principal of said note. Any deficiency in the amount of any such aggrepte monthly payment shall. unless made good by the Mort- gagor prior to the due date of the next such payme *it. , ;astYtute an e%cnt of default under this mortgag . The Mortgagee may collect a "late charge" not to exceed f,x,r cents 140 !,it each dollar (Si ) of each payment more than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments. (a) :3. That if the total of the payments made by the Mortgagor under !**mf paragraph 2 preceding shall exceed the amount of payment= actually made by the tilortgagee for ground rent taxes and assessments or insurance pre- miums. as the case may be, such excess, if the loan is current, at the option of the Mortgagor, shall be credited by the Mortgagee on subsequent payments to be ma c by the Mortgagor. or refunded to the Mortgagor. If. however, the monthly payments made by the Mortgagor under) )of paragraph 2 preceding shall not he sufficient to pay ground rent, taxes and assessments or insurance premiums, as the case may he. when the .same shall become due and pay- able, then the Mortgagor shall pay to the Mortgagee any amount nec•essar. 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 am time the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured hereby. full payment of the entire indebtedness represented thereby, the \lortgagee shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor if14t} Sg? i14�lfici4ltid�rflft4fit> �kFiWi ?4kS7Fisk>Fx�}>ftA�FF'titx 6tntAOdarbixbcriulxlirpl�npluec >baec wcaoectdotiga�odtxsrpaycwtscYp000ctooctt �o3t #ittuuwrgLaW&Aiobw )R6rt�xx tit d any balance remaining in the funds accumulated under the provisions o Xof paragraph 2 hereof. if there shall be a default under any of the provisions of this mort_age resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default. the Mortgagee shall applti- at the time of the commencement of such proceedin or at the time the property is otherwise acquired, the balance then remain- ing in the funds accumulated tinderjC*�ac�f paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under said note, ttWWAhttiKtl3irfixliFLtl4x x aicroralitz"k>tix 4. That the Mortgagor will pay ground rents. taxes. assessments. water rates, and other governmental or municipal charges. fines. or impositions, for which provision has not been made hereinhefore. and in default thereof the Mortgagee may pay the same: and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee. 5. The Mortgagor will pay all taxes which may be levied upon the Mortgagee's interest in said real estate and improve- ments, and which may be levied upon this mortgage or the debt secured hereby (hut only to the extent that such is not prohibit- ed by law and only to the extent that such will not make this loan usurious). but excluding any income tax. State or Federal. imposed on Mortgagee. and will file the official receipt showing such payment with the Mortgagee. Upon violation of this under- taking, or if the Mortgagor is prohibited by am law now or hereafter existing from paying the whole or any portion of the afore- said taxes, or upon the rendering of any court decree prohibiting the payment by the Mortgagor or any such taxes, or if such law ordecree provides that any amount so paid by the Mortgagor shall he credited on the mortgage debt. the Mortgagee shall have the right to give ninety days' written notice to the owner of the mortgaged premises, requiring the payment of the mortgage debt. If such notice he given, the said debt shall become due, payable and collectible at the expiration of said ninety days. 6. That should he fail to pay any sum or keep anycovenantprovided for in this Mortgage. then the Mortgagee. at its op- tion, may pay or perform the scone. and all expenditures so made shall he added to the principal sum owing on the above note, shall be secured hereby, and .hall hear micre,t :d the rate set forth in the said note. until paid. ?. That he hereby assigns. transfer, and sets over to the Mortgagee. to he applied toward the payment of the note and all sums secured hereby in case of a default in the performance of ant of the term. and conditions of this Mortgage or the said 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 shalt have power to :appoint any agent or agents it may desire for the purpn,c of repairing said premises and of renting the same and collecting the rents. revenues and income. and it mad pay out of said in- comes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the same and of collecting rental, therefrom: the balance remaining, if am . 10 he applied toward the discharge of said mortgage indebtedness. S. That he will keep the imps „cements now existing or hereafter erected on the mortgaged property, insured as may he required from time to time by the Mortgagee against loss by fire and other hazards. casualties and contingencies in such amounts and for such periods as may he required by the Mortgagee and will pay prompllt, n hen due, any premiums on such insurance provision for payment of which has not been made hereinbefore. All in,urance shall he carried in companies ap- proved by the Mortgagee and the policies and renewals thereof shall he held ht the Mortgagee :cod have attached thereto !a„ payable clauses in favor of and in form acceptable to the Mortgagee. hi event of loss Mortgagor will give immediate notice by mail to the Mortgagee. who may make proof of roc, if not made promptly by Mortgagor. and each insurance a,mpan) con- cerned is hereby authorized and directed to make payment for such loss directh to the Mortgagee instead Of to the Mortgagor and the Mortgagee joiatly. and the insurance proceeds. or anc part thereof. mac he applied hx the Mortgagee :tt its option either to the reduction of the indebtedness hereto secured or to the restoration or repair of file propcil.% dannagcd In ccent of fw,c,k sure of this mortgage or other transfer of title to the mortgaged properly in extingw,hment of the indebiciines, ,ccurrd herch% . Al right, title and interest rd the Mortgagor in and to any insurance pole ie, then in force shall pa„ to the purcha,c r of : ranicc y. Thal :as additional and collateral cecurit% for the peymcot of the note dcscnbcd. and ail sum, to hc,omc d!ic seder fills mortgage. the Mortgagor hereby assigns fu the Mortgagee alf profit,. iccenucs, nnalhe,, nght, .:!ic +. brneGf...,Crum4 h, the Mortgagor under any and all tit and ga., lease, to said premise,. with the nght 1c, tc,rnc .ind ; c;cipi i,a the .•;roe oral npph them to s ;.tit mdebiednicss a, well before ,a after dctndt m the ",nchhon.:, this mWi fu.. t1 .and the deli; rd. ,tie for and r"ocer anc such payments when due aml pa%adle, hilt shall oat he t'i, io le nnn^.at,t and Lecture null amf void up, •n relc ;"c of fht, mortgage