86106860 - Laserfiche WebLink

Browse

as-- i W (0013 A sum equal to the grixmd tents. if any, next due, plus the premiums that will next become due and payable nn policies rf fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property frill as estimated by the Afortgageel less all sums already paid therefor divided by the number of months to elapse before one month prior to the date when such ¢round rents, premimns, taxes and assessments will become delinquent, such sums to he held by Mortgagee in trust to pay said ground rents. Inc - miums. taxes and special assessments: and fb) 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 amount 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 lti) xt6daauamcaucxtWtltbnx5> twntXxaleuoii# attlwafncttxi <>�batKic�atxiupttttaat. xaac�ocxiitt> ticutfai�c+ anaauttaoo ®c�frdtaXxlwc>ausltxlonxX+xva (I) ground rents, t axes, assessments, fire and other hazard insurance premiums; f ! 1) tpf interest on the note secured hereby: and (i I I )dffbGl amorfizatiun of the principal of said !tote. Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mort- gagor pricy to the due date of the next such pay nicia..onstitute an event ,f default under !his mortgage- The Mortgagee may collect a "late charge" not to exceed hn :r cents (4O tut each dollar (51 ) of each payment more than fifteen f 15) days in arrears to cover the extra expense involved in handling delinquent payments. (a) :3. That if the total of the payments made by the Mortgagor underXXXof paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee far _round rents, taxes and assessments or insurance pre- miums. as the case may be, such excess, if the load is current. at the option of die Mortgagor. shall be credited by the Mortgagee on subsequent payments io be made by the Mortgagor, or refunded to the Mortgagor. If, however, the monthly payments made by the Mortgagor unde9W of paragraph .'- preceding shall not be sufficient to pay ground rent, taxes and assessments or insurance premiums. as the case may be, when the same shall become due and pay- able, then the Mortgagor shall pay to the Mlortgagee auy 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 am 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 Mlortgagee shall. in computing the amount of such indebtedness, credit to the account of the Mortgagory4W 1f 17( 1tiGE2Kit1E )ii(iCXltYfdBt�flllt9t�Ik�111[Xk It10NC40111M1C�Kf1tR7�I1�lAp0p60t�1O6t11tODl7�tleN119® 0!) �1f�17dtXfUO® pUl70lclb( 1U�10.919i7f) IX9�( �i9NgtlIIf�UI9�� (��I�XIU�ftJfR�RIl10®Ot<)c XUd any balance remaining in the fund= accumulated under the provisions kft let) of paragraph ? hereof. If there shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mlorigagee acquires the property otherwise after default, the Mortgagee shall apply, at the time of the commencement of such proceedin or , the time the property is otherwise acquired, the balance then remain- ing in the funds accumulated undel if paragraph 'd preceding, as a credit against the amount of principal their remaining unpaid under said note. INdUGL? Olf;< 7) ftlolptlHq( lt�utllx7lllx7�pt}[ IOIpOt7 ktttt�iRlutfiiUtftkipptXx11X7e7Dt111fldf7tXtOdpOtRalkX X WOUIPMllm- 4. That the Mortgagor will pay ground rents, taxes, assessments, water rates- and other governmental or municipal charges, fines, or impositions. for which proxision has not been made hereinbefore. and in default thereof the Nortgagee may pay the same: and that the Mortgagor will promptly deliver the official receipts therefor to the Ntortgagee. 5. The Mortgagor will pay all taxes which may he levied upon the Mortgagee's interest in said real estate and improse- ments. and which may be levied upon this mortgage or the debt secured hereby tout 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 Federal. 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 an% 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 he credited on the mortgage debt, the Mortgagee shall have the tight 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 days. 6. That should he fail to gay any sum or keep anycovenart provided for in this Mortgage. !hen the Mortgagee. at its op- tion, may pay or perform the same, and all expenditures so made shall be ridded to the principal sum Owing on the above note. shall he secured hereby- and shall bear interest at the rate set forth in the said note. until paid. ?. That he hereby assigns, transfers and sets over to the Mortgagee. to he applied toward the payment of the note and all 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 he 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 may pay out of said in- comes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the tame and of collecting rentals therefrom: the balance remaining, if any, to he applied toward the discharge of said mortgage indebtedness- R. That he will keep the improvements now existing o* hereafter erected on the mortgaged property, insured as may be 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 be required by the Mortgagee and will pay promptly. when due. any premiums on such insaance provision for payment of which has not been made herembefore. All insurance shall be carried in companies ap- proved by the Mortgagee and the policies and renewals thereof shalt he held by the Mortgagee and have attached thereto loss 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 promptly 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 jonttly, and the insurance proceeds. or any part thereof, may he applied by the 'Mortgagee at in option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclo- sure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby. all right, title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee 9. That as additional and collateral security for the payment of the note described. and all sums tO become due under this mart e, the Mortgagor hereby assigns to the Mortgagee all profits, revenues. royalties. rights and heneht _tccnunv lo the Mortgagor under tiny and all oil and gas leases tin said premises. with the right to recei%c and receipt for the me and ;tppk them to said itniehiednes, as well before as after default in the conditions of this mortgage. and the MOrtgaucc nm dcnstod, sue for and recover sang such pavmews when due and payable, but shall not to required so to d«. This ""wi me nl u to termirale and become null and void umtn release of this mortl, aae. x r.