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<br />86-107430
<br />(.b) A sum equal to the ground rents. if arty, next due, plus the premiums that will next become due ant' payable oil
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (all as esrimaied 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 rents, premiums, taxes and
<br />assessments will become delinquent. such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments: and
<br />(c) All payments mentioned in the r—o preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall he added tiowthei. and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month it a single payment to be applied b: the Mortgagee to the following items in the order set forth:
<br />!6[7[!19@41
<br />(11) ground rents, taxes. assessments, fire and other hazard insurance premiums:
<br />(III) interest on the note secured hereby. and
<br />lIV) amortization of the principal if said note.
<br />Any delioency to the amount :ii an: such aggregate m,mthly payment sl =all. unless made good by the Mort-
<br />gagor prior to the due date of the next such paxme'd , :.sonde an event of default under this mortgage. The
<br />Mortgagee may collect a '-late charge" nor t„ cx,ccd i ,•its w-ldi iur each dollar (SI I of each payrrn.nt mote
<br />than fiiieen (1 � t az} s it arrears to cover the extra expense Involved to handling delinquent payments.
<br />3 That it the torsi of the payment- made by the- Mortgagor under of paragraph Y preceding -hall exceed
<br />the amount of payment- actually made by the Mlorieaeee for ground rent taxes and assessments or insurance pre-
<br />mium=, as the case mat be, such excess. if the loan its current, it the option of he Mortgagor. shall he credited by
<br />the MMrtgagee on subsequent payment- to be made by the Mortgagor, or refunded to the Mortgagor. If, however, the
<br />monthly payment:- made by the Mortgagor under of paragraph : preceding shall nor he sufficient to pay ground
<br />rent_ taxes and a-- e- 1ment- OF in -urance premium -. a- the ca- +• may he when The -ame -hall become due and pay-
<br />able then the Mortgagor shall pay it, the Mortl.o,ee any :amount nece - -an to make up the deficiency, on or before
<br />the date whim payment of -uch emund tent -, taxe a - -e- -menu or in- urance premium- shall he due If at any
<br />time the ilortgagor shall tender to the Mortgagee, in accordance %%ith the proyi -ion- of the note - ecured hereby,
<br />full pavment of the entire indebtedness repro -ented thereby, the Nlorlitagee :hall. in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor all payments made under die liroyisions tfkO"bgjj3jff?A [ylh$j
<br />of paragraph Y hereof. If there
<br />=hall be a default under ant, of the prom-ion- of chi, mortgage resulting in a public -ale of the premises covered
<br />hmn , or if die Mlongagee acquire- the property otherwi -e after default, the Mortgagee -hall apply, at the time of
<br />the commencement of mch pt»ceeding or at the time the property i- othervsi,e acquired. the balance there remain-
<br />ing in the funds accumulated under of paragraph ° preceding. as a credit again -1 ill(, amount of principal then
<br />remaining unpaid under --aid rate 7f3tl�fi�idCJtf [>�11Ellji7Cil�OC�l7Citlf74ii jf1(Vi?(kl�[ldOxl�6()(1[Q1}p}pX
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<br />3 That the Mortgagor will pat ground rent taxes. :issessrrtent. uaier rare. and other governmental or municipal
<br />charges. fines. pr unpo,itiotrs, for which rrint,wn ha, nit heen made hereinbefore. and in default thereof the Mortgagee mat
<br />pay the same. and That the Mortgagor ,+ dl prompth dehi,er the official teceipt therefor to the Mortgagee.
<br />5 The Mortgagor will pax .dl laves thrch may he iexied upon the Mortgagee-, interest in aid real estate and improxe-
<br />ments, and which ma} he levied upon this mortgage or the d&-i secured hereby !hut onl% to the extent that such is not prohibit-
<br />ed by lau and only to the exier,t that such uilf not make this I „an usurious), but excluding any income tax. State or federal,
<br />imposed on Mortgagee. and u:fl file the official receipt shooing such payment uch the Mortgagee l coon xiolation of this under-
<br />taking, or if the Mortgagor i, prohibited ht ant tau noa r,t hereafter existing from par mg the u hole ur any portion of the afore-
<br />said taxes. or upon the tendering of an, court de. ree pn,hihiting the pin rnenl by the Mortgagor nr any such taxes, or if such lau
<br />or decree prox ides that any amount so paid 6% the Mortgagor shall he credited sir, the mortgage debt, the Mortgagee shall hay e
<br />the right it, gixe mnet± days. written notice to the owner of the mortgaged premr.es. requiring the payment of the mortgage
<br />deht. If such notice be eat e . the said debt shal! hoc VTTTC due. ,:ay able and sofle,fibfe at the c.piradon of said ninety da% s.
<br />6_ That should he fail to pay ; n} sum or keep ern c,ire2ar1 pn,sided for in this Mortgage. then the Mortgagee. at its op-
<br />tioxr, mat pay or perform .fie same. and .ell expenditures made shat! be added ro the principal sum ou mg on the it+o%c note.
<br />shall he secured hereby . and shall bear interest at the ; ate sc: forth in the said note. unit! paid
<br />- That he hereby assigns. transfers and set dyer to the Mortgagee, it, he ppiied toward the pat mem of the note and all
<br />sums secured heieh% in case of a default in the performance of am of the tonal% anti conditions of this Mortgage of the said
<br />note. all the rents. rex enues and income to he derived front the mortgaged premises during .uch time as the mortgage indehied-
<br />ness shall remain unpaid_ and the Mortgagee shall haxc power to appoint any agent or agent, it max desire for the purpose of
<br />repairing said premises and of renung the same and ecillcenng the rents. revenues anti . incorie. and it max pay out of said in-
<br />comes all expenses of repairing said pre,mses and necessart cornm%sions and evpen,r, incurred in reining and managing the
<br />same and of collecting rentals therefrom. the balance remaining. if ann. to be applied toward the &%charge of ,aid mortgage
<br />indebtedness.
<br />R. That he will keep the imprinements nou existing ,, hereafter erected a,n the mortgaged property. insured a, max he
<br />required fry m 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 by the Mortgagee and wig! pay promptlt when due. any prernuams on such
<br />insu.ranec provision for payment of which has not been made herein! efore Ml insurance shall he carried in companies ap
<br />proved hit the Mortgagee and the policies and renewals thereof shaft he held hx the Mortgagec and hay e attached thereto hors -
<br />payable clauses in favor of and m form acceptable to the Mforigaeee In event of loss Mortgagor a it! gnc unmedurle nonce by
<br />mail to the Moirtgagee. who n.3v make proof of fosx if not made pronipwfv by Mortgapit. Trod ears h insurance contparr, con
<br />corned is hereby authorized and directed it, make payment for such Ions directit to the Mortgagee instead of To the Morigago,
<br />and the Mortgagee paiatly. and the insurance procerds, tx ant part whereof, may be applied by the Mortgagee at us „piton cithei
<br />tai rote reduction of the indebtedness hereby sectored or to the restoration of repair ,if the propern. it.im.ged !T cyent of `orcclo
<br />sure (A this mortgage of other transfer of title ti, The morigaiged property in cxtinguistiment of the mdehtedness secured herehx
<br />all tight. took and interest of the Mortgagor in and to any insurance pohcres then m force shall pass r, !hr l,itc hascT ,it yr ;iriee
<br />y ;-hat as addna,mal and c,:>ll;iteaal set.unli f,,r the payment of the n<,te descnhe& .:rid 11! 1:,-111 ;., hr,a,nsc.fuc• urdrr This
<br />staortttarte. the Mrrtgagor herrh: _ signs to the Mortgagee aft profits. revenues. rot.rlties r,ghts .:na hcrtrhts accruing L, the
<br />loolortgaKta srndet tiny .,rod .alt •,t! any r,,is irases on said premises, with the nght It, tv,eixc fid 'r. rap! ',,,r the sit,ne ;,r..f spit:
<br />them t�, said indehtea:ness ;,s ref, r,ef.ur a,. :tftrr dcfaufl in the 1,mdin„ns ,.,f it,t. . r.3 !hr ltorrr,,gee may xfe„r,•rd u
<br />for sane'rr, :ri°.ca :ant ,,uch paertcri• Mfiert due and payable. lust .half n„ t he ctrrr rrt ' Ilri, .i,,,}?nnie fit 11 t,,
<br />Brad t t :.ies*r rei3' unfit ,,i,d uru,n tekasa ail this m,xra twin
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