|
A
<br />86 ' 105087
<br />(I nd
<br />A sum equal to the ground rents, if ant. next due. plus the premiums that will next become due and payable on
<br />1 policies of fire and other hazard insurance covering the mortgaged property. plus taxes and assessments next due
<br />oil the mortgaged property (all as cNiiinilim] hr the lfoivagre! less all sums already paid therefor divided -by the
<br />number of months to elapse before one month pnot to the date when such ground.rents. premiums. taxes and
<br />assessments will become delinquent. such sunis to be held by Mortgagee in trust to pay ,aui ground rents. }ire
<br />(� mtunis, taxes and special assessments: and
<br />All payments mentioned in the two preceding subsections of this paragraph and all payinernts to be made under
<br />the note secured hereby shall he 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 tollowing items in the eider set.fortli:
<br />Lit i r
<br />r!) ground rents. taxes a.essn,ents.'ire and ocher hazard insurance premiums: interest on the na tt securest h _by , and
<br />amortu ttion of the principal ,f said note,
<br />"YAnv dehciencv in the amount of arty such, agp eple- ztanthly payment shall. unhiss made plod ?iy the Mori .
<br />gagor prior to the due date of the next such i,aynx ,:. i.,tstiiute an e,eni of default under this mortgage. Tl;e
<br />Mortgagee may collect a "late chame" not to ex,: l [, ;i vnts (a,r) for cash dollar iSl 1 ot : eadl Pavirwrit inhere
<br />than fifteen (15) duns ir= arrears to ;IkkEr The extra expense involved in handling deiinquent pa-, newts_
<br />,. That if the total of the payment- made lax dt - yiortgagot under A•' of paragraph 2 preceding -hall exceed
<br />the amount of payments actuall% made by tile ilorieagm, fair ground rent, t,axe- and a--.e-sments or in= uraare pill -
<br />mium-. as the case may be.. -uch excess, if the loan is current_ at the option of the Mortgagor. sitaii be credited by
<br />the Mortgagee on subsequent. payments it, be shade by the >lortgxgtar, or refunded to the ?lortgagor..If. however, the
<br />^tenthly payment. - -matte be the Mortgagor under t of paragraph 3 preceding shall not be sufficient to liar ground
<br />rent. taxes and a.- .sesstnentc or in,- urance premium. as the case may be when the same shall become dtie and pity-
<br />able- then the Mortgagor =hall pay- to the Mortgagee any amount necessary to make up the deincie nr%, on or before
<br />the date when payment of such ground rents. taxc- ts>v = -sine nts or insurance premiums shalt be due. if at ally .
<br />time the 1loriga €ror -hall tender to the Mortgagev. in accordance with the provi� ion- of the note -ecured hereba,
<br />full payment of the entire indebtedne -s represented thereby. the Mortgagee shall. in computing the amount of slice
<br />indebtedness. credit to the account of the Mortgagor
<br />h -
<br />.aqd any balance remaining in the funds accumulated under the previsions of * of paragraph 2 hereof (f there
<br />shall be -a default under an% of the provisions of this mortgage resulting in a public =ale of die grt�iseas covered
<br />hereby. or if the Mortgagee acquire- the properi% otberwi -e after default, the llortoa_aee ;stall apply, at the bate of
<br />the commencement of _Itch proceeding -. or at the time the property is otherwise acquired, the balance then teximul
<br />ine in the funds accumulated under ; of parar*rapb ? pre - eding_ a a credi t against the amount pnn> igat then
<br />remaining unpaid under -aid ante. _ .
<br />mph .t
<br />4. That the Mortgagor rill pas ernunti rem - . :axe. s,e,stnents, ;hater rate,, and other eoyernmental or munaipai
<br />charges, tines. or impositions. for xhtch provision h;rr not here made heretriNfore. and in default thereof the Mortgagee MALI
<br />pit} the same: and that the Jfortgagor illl prompth deliver ,I of ice =receipts therefor to the tlt rtgagee.
<br />;. The Morigt.e•,r will pay all taxes which nix: be lee red upon the ixlortgagec < interest in said real c state and impro%e-
<br />mems, and which map he iceied upon this mortgage c,r the deN ectved beieMI:but onip to the extent that +uc-h is not €rorni +it
<br />ed by law and only to the extent that :uch "ill not make the- loan usurious). but excluding axis income tax._ State vie Federal,
<br />imposed on Mortgagee, and a ill file the official receipt showing su-b r,,,ment w ith the MortgAger. i pail xiolationof this utxie --
<br />"trip. or if the Morig.:t;or is prohibited hp any taw now or hereafter exrsung from paving the %bole crr any poitiont ad the afore-
<br />said taxes. or up m the rendering of any court d:s-ee prohibiting the Pak bs the Mortgagor or Aa} :uch taxes_ or it such law
<br />c,r decree prix ides that an} amutifil so paid bs the Mortgagor :h ell tic credited or. the mortgage debt. zhe ilortg; a shaf€ haze
<br />the right to gite ninety d:aes' %linen notice to the o, ner of the mortgaged premises, requirtnz the p:symeat Err the ir-x rtgage
<br />debt, If .uch no=tice he given, the said dent shall become due, pay ahle and collectible at the exp initain (if ;tiff nsneay. dat i.
<br />-R. That should he fail to pay an: sum or keep : ny cc- ven.a_.i pro, ided for in this Mortgage- then the Mo.t_g4ee� a.; It, .I
<br />ti in. a:as pay or perform the same, and all expenditures �o =wade shall he added to the pi ncsr.�'i suns soyirrgon the atsarve ;IcIlr,
<br />shall he secured herchs. and shall bear interest at the rate et fortb in the said note. untrl paid
<br />That he herehs assigns. transfcrs and set, over io the Mortgagee- TO be applie t toward Lhe pay trent i,f T he Ai ra sa:ail €i
<br />sums secured hereby I in casc of a default in the performance of ny if the term, _,ud conditions of this Icr(gtge air the aia
<br />note, all the rents. retenues and income to be derived from the mortgaged premises dunag such time as the moirte m i ietrted-
<br />mess shall remain unpaid: and the Mortgagee shafl have power to appoint any agent or Agents it trap desire for trig purpxi,e sal
<br />repairing said premi -es and of renting the same and c0ecting the rents, retenuea and rncx>mc, and it mar pit) vial of saw -rte
<br />comes all expenses of repairing said premises And necessary commissions and expenses incurred in renting and manatdng the
<br />cams and of collecting rentals therefrom: the balance rem..initag. if as >, to he applied ioa sd the di is ire h+,f :alit trierz�pe
<br />indebtedness.
<br />g. That he will keep the improvements now existing to hereafter erected on the mortgaged proper,,), insured :iW Asa; he
<br />required from time to time b) the 'mortgagee aeainst loss hs fire and other hazards. casualties and conningtoc'tes r- such
<br />amounts and for such periods as may he required by the Mortgagee and will pas promptly _ when drat, ans premiums on woofs
<br />insurance provision for payment of which bans not been made imretabeftwe. All insurance shall be .tarried in v yrmrarues ;ip
<br />proved by the !Mortgagee and the policies and renewals thereof shall be held bs the Morig:igee And have :altachilivf, thrretr los,
<br />parable clauses in favor of and to forth acceptable to the Mortgagee to eight c =f ks::s 4fyxtgag -� wilt glee =�Rteui :L'.tc tv tt e f y
<br />rnaii to the Mortgagee, wbo may make proof of hyss if not made promptly b) Mortgagor_ and each r-+ tanct trnvar■ on-
<br />cerncd is hereby authorized and directed iii make garment lire such toes sirrectl to the Mortgagee instead : =f ti, ha fit. rt €
<br />and the Mortgagee 7owails , and the insurance prtrtceh €s, ; r Atr} part thereof. may t a applied t*p the klortgagee as Us option either
<br />to the reducttnn <ri the rndehtcdriess hereby secured eit try tttc re.ttsration ar repan of the prarperit= iiamaged- Ir, cent of f =.ree.lo
<br />sure (if the% mortgage or tither trsasfci of title to the rnungatled ptoperiy to extinguishment of the indehitki ne- sc,-kae -`s bii -too .
<br />all right. silk .ind interest of the k4ongagor in and to stsy znsiu'ws e poll -e. Then in f. , r- ,ha'. - lh tch . ,.= ioes -
<br />- 4 1- h:,::,: addincmal 3rid i,,TUoAl
<br />- - t,arrty f,)= the payrucul if the rte dr, filivi3 u dt liln 1, ht nni .jv ztdvf it-, anuftgrge the Mvrrp,gol ieereby ,iin-t,, -
<br />chi xli,rig"gre Ali ptotlt <, revcnues, r,,e;t`ne, rEi.:.ts i+,il f enetil, ." ouing 26 ',t*c
<br />ktorigaleoa 'i"d t �o ;.m; - ;,iu,: „e- le,,',C' "', �,i, ;,rCrq a=.r5. wadi the right r„ tt•,,, .end =e;, t, i fe,, ;Yee 1sk «a
<br />-... - piers To ..,,. #_�t�tY�,.,e #• .s. 0 ztf in :. , : ftc, v-t.inlf in Olt 4..sni3ziihm, ot in , .rte, ilc-
<br />flan :0di a -, 'it, ft T", rt5 <trl- v: fq," do, ' -,o,: natiAhlc., trout 'b"t n +?t lle t, ry llr_d � .1a.= f'1i"
<br />-- i,n.i h ., i_ t; iir f .i .. . Avx .. i.,,, 4,i ljtt ke
<br />
|