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86 -10671
<br />0,11
<br />(a)V* A sun
<br />policies
<br />of lire and other hazard insurance covering the mortgaged property. plus taxes and assessments next due
<br />on the mortgaged property tall as r-stintated by the iWorlgageel 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 he held by Mortgagee in trust to pay said ground rents, pre-
<br />miums. taxes and special assessments: and
<br />(b)*X All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby sh- : be added together, and 'tire aggregate amount thereof shall be 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 forth:
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<br />(I) ground rents- taxes - assessments, fire and other hazard imuranc,: premiums;
<br />interest on the note secured hereby; and
<br />(I 1 I ) amortization of the principal of said note -
<br />Any deficiency in the amount of any such aggregate monthly payment shall, uniess made good by the Mort -
<br />gagor prior to the due date of the next such payment, constitute an e,.Qnt of default tinder this mortgage. Tltc
<br />Mortgagee may collect a "late charge" not to exceed fm;, �_ents 441f) for caxh dollar (51 ) of each payment [tote
<br />than fifteen 0 5) %+airs in arrears to cover the extra expense involved in handling delinquent payments.
<br />(a)
<br />& That if the total of the payments made by the Mortgagor under ltiXXof paragraph '_r preceding shall exceed
<br />the amount of payment= actually made by the %lortgagee for _round rents- taxes and a- se=sments or insurance pre-
<br />miums. as the case may be, such excess, if the lain is current, at the option of the Mortgagor, shall be credited by
<br />the Mortgagee on subsequent payments to he mafle by the Mortgagor, or refunded to the Mortgagor. If, however. the
<br />monthly payments made by the Mortgagor unde. 1) of paragraph ' preceding shall not be sufficient to pay ground
<br />rent, taxes and a::sessments or insurance premiums. as the case may be. when the same shall become due and pay-
<br />able, then the Mortgagor . =hall pay to the Mortgagee am amount necessary to make up the deficiency, on or before
<br />the date when payment of such ground rent,,. taxes, arse =sments or insurance premiums shall be due. If at an
<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 slortgagee =hall. in computing the amount of such
<br />indebtedness. credit to the account of the Mortgagor
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<br />xW any balance remaining in the funds accumulated under the provisions of paragraph ? hereof. If there
<br />shall be a default under an of the provisions of this mortgage resulting in a public sale of the premises covered
<br />hereby, or if the Mortgagee .
<br />acquires the property otherwise after default, the Mortgagee shall apply. at the time of
<br />the commencement of such proceedinivs. or at the time the property is otherwise acquired, the balance then remain-
<br />ing in the funds accumulated underAj&?hf paragraph _' preceding. as it credit against the amount of principal then
<br />remaining unpaid under said mole, SAVOILIVIC a <iXJltoKl(I011tlllll xKkX*lf ltltllWx X
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<br />4. That the Mortgagor will pay ground rents, taxes- assessments. water rate,. and other governmental or municipal
<br />charges, fines. or impositions. for uhrch precision has not been made hercinbefore. and in default th =reef the Mortgagee may
<br />pay the same: and that the Mortgagor will promptly deliver the official receipt, therefor ter the Mortgagee.
<br />i The Mortgagor will pay all taxes which may he levied upon the Mortgagee , interest in said real estate and improve-
<br />ments. and which may he levied upon this mortgage or the debt secured hereby shut 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 viii file the official receipt showing such payment with the Mortgagee. Upon violation of this under-
<br />taking, or if the Mortgagor is prohibited by any Lau now or hereafter exiting from paying the %% hole or any portion of the afore-
<br />said taxes. or upon the rendering of any court 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 shall he credited on the mortgage debt. the Mortgagee shall have
<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 shall become due. payable and collectible at the expiration of ;aid ninety days.
<br />G. That should he fail to pay any sum 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 shall he added to the principal sum owing on the above note.
<br />shall he secured hereby. and shall hear interest at the rate set forth in the said note. until paid.
<br />L 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 be 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 szme and collecting the rents. revenues and income, and it may pay out of said in-
<br />comes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the
<br />sane and of collecting rentals therefrom: the balance remaining. if any, to he applied to%, ;rd the discharge of said mortgage
<br />indebtedness.
<br />R. That he will keep the improvements now existing or hereafter erected on the mortgaged properq. insured as may he
<br />required from time to time by the Mortgagee against loss by fire and other hazards. casualties and contingencies in such
<br />amounts and for such periods as may he required b% the Mortgagee and will pay promptly. % %hcn due, any premiums on such
<br />insurance provision for payment of which has not been made hereinbefore. All insurance shall he carried in companies ap-
<br />proved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto loss
<br />payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by
<br />mail to the Metrigagee, who may make proof of loss if not made promptly by Mortgagor. and each insurance company con-
<br />cerned is hereby aulhorized an directed to make payment for such loss directly to the Mortgagee instead of to the Mortgagor
<br />and the Mortgagee }oiatly. and the insurance proceeds, or any part thereof, may he applied by the Mortgagee at its option either
<br />to the reduction M the indebtedness hereby secured or to the restoration or repair of the property damaged. in event of foreclo-
<br />sure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby,
<br />all right, title And interest of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee.
<br />4, That as additional and collateral security for the payment of the note described. and all sums to become due under this
<br />mortgage. the Mortgage - hereby assigns to the Mortgagee all profits, reycnue,. royarhic,. rights and henefpslaccnrhtg;ltefhe
<br />640rtgaKe t under «,ny and all oil and gas leases on said premises. with the right to reset %e and receipt for tSesiahie and'"op1%
<br />them 6, said indchlcdncss as well before its after default in the conditions of ;has mortgage, and ;he Mortgagee nwiy denmod, sire
<br />for and reao%tr any such pa%rne"is when due and payable, but shall non hi• - equircd ,,, rep do 'phis atsstgnmrnt is re termir.;atr
<br />:nad hecontc null and voted utsm reie asc of this mortitaec.
<br />�S1 LPL, ?683 "e �`r 59t
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