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a) M A sum equal to the ground rents. if any. next due, Plus the premtus trial wut area K1...,,. ---- r- - - -- - __
<br />policies of file and other'hazxd insuTerw covering the mortgaged; properly, plus taxes and assessments next due
<br />on the mortgaged property fall es esrimirred by The AfurrgWe!' less all sums already paid therefor divided by the and
<br />agse bee of months to a del nquent, one suuchsu s }to be field date when
<br />gager in I crust 10 pay said ground ground rents' pre•
<br />assavrxnu will become doling
<br />mums, taxes will special asatssmtnts, and
<br />b) 1111 payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note warred hereby shall be added together. and the aggregate amount thereof shall fie paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee 10 the following items in the order set forth
<br />C:)
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<br />1)6W ground rents. taxes. assessments. fire and other hazard insurance premiums,
<br />(II )Moth interest on the note secured hereby: and
<br />I I I )elY3 amortization of the principal of said note.
<br />of any such aggregate monthly payment shall, unless made good by the ►fort -
<br />Any deficiency in the amount
<br />duc date of the nett such payntettt, conslitutt an event of default under this mortgage. The
<br />gagor prior to the
<br />1Nortgagee may collect a "laic charge" not to exceed t(,;:r cents (44) for cacti dollar f5f ) of each payment more
<br />than fifteen 0:5) Ant's in arrears to cover the extra expense involved in handling delinquent payments.
<br />by the Mortgagor underxf paragraph :' preceding =hail exceed
<br />0�1.
<br />That if the total of the payments made
<br />by the Mortgagee for Around rents, taxes and Assessments or insurance pre -
<br />the amount of payments actuatty made
<br />as the case may be. =ugh excess, if the loan is current, at the option of the Nfortgagot, shall he credited by
<br />1 #, however, the
<br />miums.
<br />the Mortgagee on subsequent payments to be ma a� % the Mlortgagor, or refunded to the Mloetgagor.
<br />2 shall not be sufficient to pay' ground
<br />ncmthiy payments made !n the 'tfortgagor under of paragraph preceding
<br />insurance premiums, as the case may' be. when the same ahali become duo and pay-
<br />rent. taxes and assessment= or
<br />able. then the 11ortgagor shall pay to the Mortgagee any amount "eve to make up Cite deficiency, on or before
<br />shalt tin due. !f at any
<br />the date when payment of such ground rents. taxes. assessments or insurance premiums
<br />the Mlortgafor Malt tender to the Mortgagee, in accordance with the PTO%Istons of the note secured hereby.
<br />time
<br />full payment of the entire indebtedness represented thereby, the Mortgagee shall. in computing the amount of such
<br />k
<br />indebtedness, credit to the account of the fulgntgagar xllcstMNtFK>tntdK�xd�
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<br />aenKany balance remaining in the funds accumulated under the provisions of {paragraph ?hereof. 1f there
<br />of the covered
<br />a
<br />=ball be a default under any of the pro- of this mortgage resulting in a public sale premises
<br />all b a
<br />default, the Mortgagee shall apply, at the time of
<br />,
<br />tt if the Mortgagee acquire- rite property otherwise after
<br />the time the is otherwi -e acquired, the balance then remain-
<br />the commencement of such proceedmgsr fir property
<br />M Wg,, as i t against the amount of principal then
<br />° preceding, a credit
<br />ing in the funds accumulated under paragraph
<br />retraining unpaid under said note, tort*t k&U) pwpwi! xs0) rtcKNK 'pzfauatrcaxsbtedttte1ts11> Q KV „ KFOG°t
<br />ai�#b
<br />.i. That the Mortgagor will pay ground rents. taxes. assessments. water rates. and other governmental or municipal
<br />has not been made hereintiefore. and in default thereof the Mfortgagee ma}
<br />charges. finis. to impositxans, for which provision
<br />the same: and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee.
<br />interest in said real estate and improve -
<br />pas
<br />The Mlortgagor wilt pay all tales which may tie levied upon the Mortgagtc'%
<br />this mortgage or the debt secured htrehy )hut unls to the extent that such is not prohi�it-
<br />mcnis. and which may tie levied upon
<br />eel by law and only to the extent that wet wit! not make this loan usurious). but excluding any income tax. State or Federal.
<br />with the Mortgagee. L`ptm violation of this under-
<br />imposed on Mongaget. atxf will file the official receipt showing such payment
<br />iaw or hereafter existing from paying the whole or any portion of the afore
<br />taking. or if the Mortgagor is prohibited by any now
<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 />debt. the Mortgagee shall have
<br />or decree provides that any amount so paid by the Mortgagor shall be credited on the mortgage
<br />notice to the owner of the mortgaged premises. requiring the payment of the mortgage
<br />the right to give trinity days' written
<br />the said dcht shall become due, payable and collectible at the expiration of said ninety days.
<br />dens- !f sus fi rwtice be given.
<br />or keep arty covenant provided for in Ibis Mtortgagt. titer the Mortgagee. at its op-
<br />6. That should he fail to pay an, sum
<br />all expenditures so made shall be added to the principal sum owing on the above note .
<br />tion. rrtay pay or perform the same. and
<br />shall be secured hereby. and shall heat interest at the rate set forth in the said note. until paid.
<br />to he applied toward the payment of the note and all
<br />1. That he hereby assigns. transfers and sets over to the Mortgagee.
<br />defauh in the performance of any of the terms ants conditions of this Mortgage or the said
<br />sums secured hereby in case of a
<br />note. all *ore rents. rtvtnues and interne to he derived from the mortgaged premises during such time as the mortgage indebted-
<br />any agent or agents n may desist for the purpose of
<br />Ticks shall remain unpaid: and the Mortgagee shall have power to appoint
<br />repairing, said premises and of tenting the same and collecting the rents, revenues and income. and it may pay out of said in-
<br />and expenses incurred in renting and managing the
<br />comes all expenses of repairing said premises and necessary commissions
<br />the balance remaining. if any. to he applied toward the discharge of said mortgage
<br />same and of collecting rentals therefrom:
<br />indebtedness
<br />8. That he will keep the improvements now existing or hereafter erected on the mortgaged property . insured as may be
<br />required•: #rom time to time by the Mortgagee against loss by fire and other hazards. tl�swheasduetlany premiums on ucfi
<br />amounts and for such peritnds as may tie required by the Mortgagee and will pay pr p
<br />souse
<br />has not been made heretnhefore All insurance shall be carried in companies ap-
<br />m provision for payment of iAhicb
<br />proved try the Mor%ppee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto lots
<br />payable clauses in favor wfiU Wray make acceptable f loss d nMOm de prolmptly by tMlcvtgagor�gandreacth m. urance companycco n
<br />Mong&W. Mortgagor
<br />re4il to tht
<br />corned is herthy authutized and directed to make payment for such loss directly it, the Mortgagee instead of to the
<br />nd he Mot n`ttayfeblrclnes+ boost+. se:ured,rr to the air attic nior tpaitrx+f rhriptl+tpen� damaged In era en, of f +tether
<br />irtf t
<br />Z, a� th» ftkojl,W of f'ther transfer of title to the mortgaged proptrry m tvtingut,timent of the indetstcdness secured hem•%.
<br />then in f ,• •hall pats to the Purchaser or grantee
<br />_
<br />all ttgM, ritk and tnlettsi Of the Mofggagor m and to any insurance policies
<br />4 That as addittcmal and Collateral security for the payment of the note Srs rit sets, and all sums to N-to ,r due :ini: l th +,
<br />rights and henettrs ruing tit ihr
<br />arrrt .alit tifnttttWfrr botchy assign% ta> the Mf irtgaKre All profit%, revenues r.,s alter,
<br />a
<br />+ltd Witt the .god r and receipt f t the s im and :ippit
<br />Mlofi Wor utsdtr any laid all oil anal $as'lasts tin premise.
<br />sheen xo srtd tridehirdriesk as rCI, t,efnfe .1, afar! default in she condowns of m +, ,- -.t , c' end the M F" y.r, '1' demand ,tic
<br />in �hn
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<br />.`r trots ...
<br />±,.�r anti loose >sxr any suz'fi psYf^rnti N: tarn isr,r and r:2ltiahh but aha;t n 7',
<br />sfsd tv.,> c nil +i and' -otd utuen relca,,,r„ i,f IhlM nti+ttViWe
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