86104349 - Laserfiche WebLink

Browse

B6..- 104349 )01) (')4M (b)XXX a tbM�+liiWtQ4;X A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated btu the M•)rtgagec) 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 he held by Mortgagee in trust to pay said ground rents, pre- miums, taxes and special assessments; and 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 aniount 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: IflJ xR�at> Iiitif�r�bt�sr�erutltfd�rx�lf�caWWi�ae�txfi�dosw�trve�+ �tri�rY>< 1tr�st�aat�lau�xrofi> Ht« oc�sae�zttxk�t�mbetxi�lo ►xioyttttont. xwr�kw> tietxtgti�rx�urrwradacprawwautrpctutrft 'ttxtusttrttutytNr�;x (1) ground rents, taxes, assessments, fire and other hazard insurance premiums: ( 11) XXNA interest on the note secured hereby; and 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 wider this mortgage. The Mortgagee may collect a `late charge" not to exceed foul cents (tai) for each dollar (S I ) of each payment mote than tifteen (19) days in arrears to cover the extra expense involved in handling delinquent payments. :3. 'Chat if the total of the payments made by the Mortgagor underi(tdAof paragraph v preceding shall exceed the amount of payments actually made by the Mortgagee for eround rents, taxes and a.scssments 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 made by the Mortgagor. or refunded in the Mortgagor if, however, the monthly payments made by the Mortgagor undercut) of paragraph ' preceding shall not he sufficient to pay ground rent, taxes and assessments or insurance premiums, as the cause may be. when the same shall become due and pay- able, then the .Mortgagor shall pay to the )lortgagee 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 anti 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 Mortgagee shall. in computing the amount of such indebtedness, credit to the account of the Mortgagor> ft$ ldf�tprKtttSxttflaltltxiwottleatxtltttctprtvcactsiaartxrbc #wfrpaocagoapErcx'x tbuDOUfx> tiro' tRYrrtrbec> iia�tlq[ Ittjextc) t�cttttk> ixxwatex, ItYld�ettadcirxtptWc�rt #teuDeutet >• GclbaoeaifugctwulxkicMwtx #)enrslt>,roar�x wort any balance remaining in the funds accumulated under the provisions of paragraph ? hereof. If there shall be a default under any of the provisions ill' +,his mortgage. resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires cite property otherwise after default., the Mortgagee shall apply. at the time of the commencement of such proceedings or at the time the property is otbertvt e acquired, the balance then remain- ing in the funds accumulated underx{ lif paragraph ? preceding, is a credit against the amount of principal then remaining unpaid under said note, turtixxitakk{ purpcttthrrtrrdjttst> t�atopexttttretttawtMidtxaJtatWxkaxtexYuurnwataaitrcttxrbrtnvttrJcx tolxgrutxgttre4rhti)t 4. That the Mortgagor wif) pay ground rents. taxes. assessments, water rates. and other governmental or municipal charges. fines, or impositions. for which provision has not been made hereinbefore. and in default thereof the Mortgagee miry 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 read estate and improve- ments, and which may be levied upon this mortgage or the debt secured hereby (hit( 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 Federaf. 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 :my 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 or decree provides that any amount so paid by the Mortgagor shall be 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 be given, the said debt shall 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 Mortgagee. at its op- tion. may pay or perform the same. and all expenditures so made shall he added to [he principal sum owing on the above note, shall be secured hereby, and shall bear interest at the rate set forth in the said note. until paid. 7. That he hereby assigns. transfers anti sets over rn the Mortgagee. to he applied toward the payment of the note and :ill sums secured hereby in case of a default in the performance of any of the terms 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 shall have power to appoint any agent or agents it may desire for the purpose of repairing said premises and of renting the same and collecting the rents. revenues and income. and it nray 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 rentals therefrom; the balance remaining, if any, to he applied toward the discharge of said mortgage indebtedness. S. That he will keep the improvements no%% existing oc hereafter erected on the mortgaged property. insured as mar 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 promptly. when due, any premiums on such insurance provision for payment of which has not been made hereinbefore. All insurance shall be carried in companies ap- proved by the Mortgagee and the policies and renewals thereof shall he held by the Mortgagee and have ,matched thereto los; payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made promplly by Mortgagor, and each insurance company con- cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to the Mortgagor and the Mortgagee joinliy. and the insurance proceeds. or any part thereof, may be applied by the Mortgagee art its option either i to the reduction of the indebtedness hereto secured or to the restoration or repair of the property d,unaged. In event of foicclo- Lsure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness ecined hereby. all right, title anti interest of the Mortgagor in and to any insurance policies then in force shall pass tit the puichauer or grantee. 9. That as additional and collateral security for the payment of the note described, and all cunt: to hcronte due under [his mortgage. the Mortgagor hereby assigns to the Mortgagee all profits. revenues, royalties, rights and benefits accruing to the Mortgagor under any and all oil and gas teases on said premise,. with the right to receive and reccipi for the ,ante :in,l apply them to said indehtedness s well hefore as otter default in the conditions of this Mortgage. and the Mortgagee nrIN demand. suc for and recover army such payments "hen due and payable, but shall nor he required o to d„ 1 ht, .— ignincnl Is Iii ict;nuntc and become null and void upon release of this mortgage „a ti N