|
L
<br />gg,_ 104421 rbi, �aouuoba�urxwuuRitircr�ES «ni�a.ottuel»tt K» xla;> E +cttxK�»�t,anc+,okttciutlt>itrr
<br />x.rxe�+s�a���tn�t►tx
<br />'y G `.�'3`i�r��l tfi' Si 4';lYf i1;�`?Nti;i`c N �x
<br />XX)
<br />Ulf anq Sit3 , as t t xtticx >tlnucx�iis c x i►itSi )c�tiiitrt lkSt c Yxiikitx�F*3t ii [iEx51�C,��t51ii3�iCiErcikil5�
<br />xiuntsn� ,ai�twtaxrro�trlodt>�ka� - - . Ksgonaxpcx
<br />(a))Y(JE A sum equal 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 covering the mortgaged property, plus taxes and assessments next dire
<br />on the mortgaged property fall as esrtarated bar the Aortgagee) less all sums already paid therefor divided by the
<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 held by Mortgagee to trust to pay said ground rents, pre-
<br />miums, taxes and special assessments: and
<br />(b)W All payments mentioned in the twit preceding subsacm,ns 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 tidlowing items in tilt, order set forth:
<br />� nBffi) i)& �i£ �ck��iSrsxiiilSi£ 3trl�tfoEiBi) c1�F7�SctxSi) CrF51£ tlt5iiF3Flixiii�k) liSoAli3if8d> i• Af> ti�x�lrytlFkti9tii11tlxkiFliNUnir 2kk4ilc'.iritKRltfr,
<br />xR» rmawtlduazk>• xtptflwxkaxk?�ur7p17iRwpOtAt6r // » »xx?e» to-» lVIy1Mj�Xl4xt47rPcnlfatic »>ht!1t� xx
<br />(1) ) Pound rents, taxes, assessments, fire and other hazard insurance prentiuors;
<br />(11) ilf3lQt interest on the note secured hereby: and
<br />(I 11)( amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by rile Mort-
<br />gagor prior to the due date of the next such payment• cuustitute an event of dclauit under this murtgage The
<br />Mortgagee may collect a "late charge" not to exceed fom cents (4v) fur each dollar ($ i ) of each 1)3y Well t nnun•
<br />than fifteen ( I;) ,lz; %s it arrears to cover the extra expense involved in handling delinquent payments.
<br />(a)
<br />:I. That if Elie total of lilt, payments made by the Mortgagor under (iomf paragraph Y preceding shall exceed
<br />the amount of payments actually made by the Mortgagee for around rents, taxes and assesmenis or in- uranco 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 Mortgagee on subsequent payments to be made the Mortgagor. or refunded to the Mortgagor_ if. however, the
<br />'�by
<br />monthly payments made by the Mortgagor underoo'f paragraph ? preceding shall not be sufficient to pay ground
<br />rent, taxes and assessments or insurance 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 make up the deficiency. nn or before
<br />the date when payment of such ground rents. taxes, assessments or insurance premiums shall be due. If at am
<br />time the Mortgagor shall tender to the Mortgagee, 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 of such
<br />indebtedness, credit to the account of the Mortgagor i1# k} 41+ rttlwt4a< Rtlfdltnl: NoticKxhLettiplt914tsxesft >,xo}xa6t(rt►�xspkx3x
<br />llRllARt(>M�()ik lR7C l R) t% ltltxRMX�ltRlilNltX llll7f�7ltOrl :lUXRitYxElK�flR7LylRK�D:IO kBo= MI�tx i( Idc)(7tOL.ilK7�$x�HJAIDrA@pticx
<br />x »al anv balance remaining in the funds accumulated under the provision_: (Wk* of paragraph ? hereof. if there
<br />-hall be a default under any of the provisions of this mortgage resulting in a public sale of tit(- premises covered
<br />hereby,
<br />or if the Mortgagee acquires the property otherwise after default, the .Mortgagee shall apply. at tit(- time of
<br />the commencement of such proc•eedin gs, or at the time. the property is othertet acquired, the balance then remain -
<br />.c
<br />Oa
<br />in in the funds accumulated under paragraph a p k g• p pa
<br />g >( (�f :. preceding, u : a cn�dit against the amount. of principal then
<br />remaining unpaid under said note, atidczrbol #npr,upemt)r>c jit eft» ;xptuatm»tlxatx>ttin#vtrs tk# nrwiK #re+utrc»xrAusxisxlwac)ixttxx
<br />4. That the Mortgagor will pay ground rents. taxes. assessments, water rates. and other governmental or municipal
<br />;e
<br />charges. fines, or impositions. for which provision has not been made hereinbefore, and in default thereof the Mortgagee may
<br />pay the same: and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee.
<br />5. The Mortgagor will pay all taxes which may be levied upon the Mortgagees interest in said real estate and improve-
<br />ments, and which may be levied upon this mortgage or the debt secured hereby (but only to the extent that such is not prohibit-
<br />ed by law and only to the extent that such will not make this loan usurious). but excluding any income tax. 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 by am, law no%o or hereafter existing from paying the whole or any portion of the afore-
<br />said taxes. or upon the rendering of any courl decree prohibiting the payment by the Mortgagor or any such taxes, or if such law
<br />or decree provides that any amount so paid by the Mortgagor ;hall he credited on the mortgage debt. the Mortgagee shat! hate
<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 he given, the said debt ,hall become due. payahle and collectible at the expiration of said ninety day,.
<br />6. That should he fail to pay any ,um or keep any covenant provided for in this Mortgage- then the Mortgagee, at its op-
<br />tion, may pay or perform the same, and all expenditures so made ,hall he added to the principal sum owing on the above note,
<br />shall be secured herehy, and shall hear interest at the rate set forth in the said note- until paid.
<br />?. That he hereby assigns. transfers and sets over to the Mortgagee. to he 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 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 shall remain unpaid: and the Mortgagee shall have power to appoint any agent or 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 rnav pat out of said in-
<br />comes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefronn: the balance remaining, if any, to he applied to%%a:rd the discharge of ,aid mortgage
<br />indebtedness.
<br />8. That he will keep the improvements now existing o, hereafter erected on the mortgaged property, insured as may he
<br />required from time to time by the Mortgagee against loss by fire and other hazards• casualties and contingencie, in such
<br />amounts and for such periods a, may be required by the Mortgagee and will pay promptly. when Inc. ;tit y' premiums on such
<br />insurance provision for payment of which has not been made hereinbefore. All insurance shall he carried in cnmranics ap-
<br />proved by the Mortgagee and the policies and renewals thereof shall he held by the Mortgagee ;nd have auntched thereto It'-
<br />payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor will give innnedia to notice by
<br />mail to the Mortgagee, who may make proof of loss if not made promptly by .Mortgagor, and each insur;mec company con-
<br />cerned is hereby authorized and directed to make payment for such loss direct!. to the Mortgagee instead of to the ;Mortgagor
<br />and the Mortgagee jointly, and the insurance proceeds. or any part thereof, mat he applied by the Mortgagee at its option either
<br />to the reduction of the indebtedness hereby secured or to the restoration or repair of the property dnntaged In event of foreclo-
<br />sure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indcModne,s secured herehy,
<br />;all right, title and interest of the Mortgagor in and to any insurance policies then in force shall pa,s to the purchaser ur grantce
<br />9. That a, additional and coil feral security for the payment of the note described vui all ,tuns to hc%,nme due under tilt,
<br />nl
<br />mortgage. the Mortgagor herehy assigns to the Mortgagee ;!ll profits, revenues. ro\idlics. rights and he nclus accniing to the
<br />Mortgagor under .any and all oil and gas leases nn said premises. %%till the right to ruuv • .,nd receipt for the "Irle Ind : prl\
<br />them to said indebtedness as %veil before a, after default in the conditions of tilt, morigagc. and the Morlf�;t e•c m.r% ,tcm.md. 'sic
<br />for and recover any such payments when flue and papal le. lint shill not be nee; mvd ,r ;, d„ I hr.. -.ion nr'it i. ;m,
<br />:rod hecnme null "nei "'id upon release "t thi, mortgage.
<br />
|