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86- x.06098
<br />r (01111 < A sum equal to rite 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 properly, plus taxes and assessments next due
<br />on the mortgaged property (all as estimated by the Mortgagee) 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 tents, premiums, takes and
<br />assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, prc
<br />miums. taxes and special assessments: and
<br />(b)W All payments mentioned in the two preceding subsections o! this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall he paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the following items in the order set firth:
<br />1(�d lBf) FAR) HIkJl9f] Ht% Rl( 1�1F1(7 1t�lfkRl( lt' fA1QK1fIAf) HEXk7l) �1tli�lR7 �fKktl2' X9t�t�n` tX• 11R87(D C1 (�f�FMlf7Fx%I�JfXR�F10QJ(tXRx
<br />» K�lmbt) �z> tix> tkratuU(> oxa�t) toU�xx�x�ra�r >yutxxlfl�mlxx�>O�xx�xfu��xi<xx
<br />( I) lm ground rents. taxes. assessments. fire and other hazard insurance premiums:
<br />(11) jtN>flt interest on [tie note secured hereby: and
<br />( I I I )WO anlorti /ation of the principal of said note.
<br />Any deficiency In the amount of any Such aggregate nlonthiv payment shall, III11"S ❑lade good by the Mott -
<br />gagor prior to tire due date of the next such payme..t. constitute all ekent .,f detarlt under tilts mortgage. file
<br />Mortgagee niay collect a "late charge" not to CxCCC•d t..l:l iCiriS 14VI lot each dollar IS I I of each payineilt more
<br />than fifteen (I 5) 0 ; :vs it arrears to covet the extra expellee involved nl handling kelinquent payments.
<br />(a)
<br />3, That if the total of the payment- made by the \tortgug;ur under X&tltof paragraph "_ preceding -hall exceed
<br />the amount of payment , actually made hx the lilortgagee for ground rent -. taxes and assessment or in ,surancc pre-
<br />mium=. ass the case may he, such ex(ess. if the loan is current, at tire option of the Mortgagor. shall he credited by
<br />the Mortgagee on -subsequent pa)ments to be magic)hy ill(. llortgaior, or refunded to the Mortgagor If, howe%er. the
<br />by Mortgagor he
<br />monthly payment.- made the undetx�(�1 of paragraph ' preceding shrill not sufficient to pas ground
<br />rent, taxes and assessments or insurance premium -. a- the ca,v may be. %then the -ainv -hall become due and pav-
<br />able. then the 1lortgagor =hall pay to the llortt!agev an amount nece - -an iii make up the deficient%, on or before
<br />the date when payment of such around rent -. iaxe -, a- se- sments or in- urance premium -hall he due. If at any
<br />time the Mortgagor =hail tender to the Mortgagee, in accordance with the pro%i -ion- of the note secured hereby,
<br />full payment of the entire indebtedness represenied thereby. the Mortgagee -hall, in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor
<br />�
<br />�IEIkKibK�KJ61f: �f1( Xit1i( �II�Xdfa1( 1( 3tJt7( ifii( XiiililifMiF )�ln(Ifit�fiN(IM)�tIQHWf! ) W) 011�1611N�1 (RI(ItXl4YlfRifX�filiCX
<br />7{ifid any balance remaining; in the fund- accumulated under the pro%isions i 7fi E7D of paragraph 2 hereof. If there
<br />shall be a default under anN of the provision- of Ihis morlizage resulting in a public -ale of the premises co%ered
<br />hereby, or if the llorts gee acquires the property otrerwi -e after default, (he Mortgagee Aiall appl%. at the time of
<br />the commencement of such proceeding- or at the time the properh i- otherr%i -o ,required, the balance then remain-
<br />ing in the funds accumulated undct7tDtll�)rf paragraph 2 preceding, as a credit against the amount of principal then
<br />remaining unpaid under -aid note. Xii8X�7Kt[I�( tip( 7t7c�jgXltXifi< K71( ifXififttXilKltdOKX 31iGII9U ®CY�EX>Xif%fftl(X1liWFXXXDtX
<br />)Gf)gl7ll�li{Th(%�l(
<br />4. "That the Mortgagor "ill pay ground rent,. taxe,. ;»srs,mrnts. %%ater title,, and other go%ernmental or municipal
<br />charges, fines. or impositions. for a hich proyt,ron has not been made herembefore, and in default thereof the Mortgagee may
<br />pay the same. and that the Mortgagor will promptly dcli%er the etiiciaf receipt, therefor to the Mortgagee.
<br />5. The Mortgagor will Pak alt lase, which may lie le%ied upon the Me- igogee s interest tin said real estate and impro%e-
<br />merits. and which may he le%ied upon this mortgage or the de ht secured here y (hut only to the extent Ihill wch is not prohibit-
<br />ed by law and only to the extent that wch %%ill not make this loan usuriou,l. but excluding any income tax. State or Federal,
<br />imposed on Mortgagee, and will tile the .ttlicial receipt showing such pat mint with the Mortgagee. t!pon violation of this under-
<br />taking, or if the Mortgagor is prohibited by any Lo% now or hereafter exiting from paymg the %%hole or any portion of the afore-
<br />said laze,. or upon the rendering of any court decree prohibiting the payment h_% the Mortgagor or any such taxes. ur if such law
<br />or decree provide, that ant amount ,o paid by the Mortgagor shall he credited on the mortgage debt. the Mortgagee shall ha%e
<br />the right it) give ninety day,' written notice to the owner of the mortgaged premises. requiring the payment of the mortgage
<br />debt. If such notice be gi%en, the said debt +,hall become dues payable and collectible at the expiration of said ninety day +.
<br />6. That should he fail to pay any sum or keep any covenant pro%ided for in thi, Mortgage. then the Mortgagee. at it, op-
<br />lion. may pay or perform the same. and Al expenditures so made shall he added to the principal sum ow ing on the aho%c note.
<br />,hall he secured herehy, and shall hear interest ;it the rate ,et forth in the said note. until paid.
<br />that he hereb y assigns. Iransfers and set, o%er to the Mortgagee. to he apphcu toward the lim ment of the note and all
<br />sums secured herehy in case of a default in the performance of any of the term, and conditions of this Mortgage or the said
<br />note. all the rents, rexenues and income to be deri%ed from the mortgaged premises during such time as the mortgage indebted-
<br />ness shall remain unpaid: arid the Mortgagee shall hake power to :appoint any agent or agents it may desire for the purpose of
<br />repairing said premise+ anti of noting the :tine anti collecting the rent,. re%enues and income, and it ma} pak out of said in-
<br />comes all expenses of repairing said premise, and necessary commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom: the balance renu.ining, if any. to he applied iow.ud the discharge of ,aid mortgage
<br />indebtedness.
<br />S. That he will keep the improvements now existing or hereafter erected on the mortgaged proper,, insured a, may be
<br />required from time to time by the Mortgagee against loss hg fire and other hazard,. casualties and contingencies in such
<br />amounts and for such period, as rna_% to required by the Mortgagee and will pay prontpuy. when clue. any premium, on su,1,
<br />insurance provision for payment of which has not been made hereinheforc V insurance shall he carried in conipanie, ap-
<br />proved be the Mortgagee and the policies arid renewals thereof shall he held by the 'd,rtlragcc and hake attached thereto lo„
<br />payable clauses in favor of and in form acceptable to the Mortgagee In e%ent of Ions Mortgagor will gike immediate notice by
<br />mail to the Mortgagee, why may stake proof of loss if not made promptly l,% %Iortgagor. and each insurance company con-
<br />cerned is herehy authorized and directed Io make payment for such loss directh it, the Mortgagee m,tead of to lire Mortgagor
<br />and the Mortgagee loiatty. and the insurance proceeds, or arty part thereof. may he applied by the Mortgagor at rn option tithe
<br />to the reduction of the indebtedness hereby secured or to the restoration ar repair of the property damaged In e%cm of foic,:o
<br />sure of this Mortgage or ,Ilia, transfer of title to the mortgaged property in exiingto,hment of the indebtedness secured hei cM .
<br />Al right, title and interest of the Mortgagor in and to any insurance politic, then in force ,hall pia, to the purrlc.sci or rantee
<br />et 1 ha; a, iiddmonai and collateral sccuriie for ncc pa} ment of the nett described .!rid ,0! .urn, TO heconic dui under till'
<br />mortgage, the Morgagot itetcht assigns h• the Morigagc: alt profits. rc%cnuc,, maitre, tight, and hviiefin .mcminp Io the
<br />Morigagor Evader stn•, mod <ltl out and pa, fea,c, on said premises, with the- right i, r;,cno nd r-,cipt for the ••,irne and m,r,k
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<br />then; rc•..uef mdehtectur,r.„ %cell hrfrr. as alter dcfanh in The iondnu.us. 1lrtte"gt'c �•..;% rttt^. nd our
<br />for .cite! rrcc.%er ark ;E h li t %a ;cents uh, n dare ."Id .t%ablc I,ia .tinN ut•t he re„r.r,c,! „� �. .' . 11— "Men �, to :c :❑ r..l;
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<br />.mil txc „vac• r.tdl arj '—dm—r, .elcn,e ..f this nwntpape
<br />tit•. -.� >A . `91
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