|
85-- 000606
<br />( tt>, �xx# �cif�x�xosxfatack€ accox�la�t��olaxl�xaXf! emtoaoaxtc >�ala�exza��lvxte�sa,�Ktio�g�:t
<br />�R4(4��#��A41i�tiC74l�14�K, �f'�R4C.�.�EX�[lt�l4�FfGx!{%
<br />-
<br />I fttxac��m�stecll��! a�Jtlxecoeifxt�tfccl�acxaausntxcecatt�ex�cattfl >�pcass�x
<br />(b) A sum equal to the 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 property, 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 rents, premiums, taxes and
<br />assessments will become delinquent, such sums to be held by Mortgagee in trust to pay -.aid ground rents, pre-
<br />miums, taxes and special assessments; and
<br />(c) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the 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:
<br />t�itx xxxt�rfsi�x�kai< a�+ x�icxttsFxxtxl�xo�d�t��c�tccx�ch��scaa> Imtl> �: �l��dlx�l��ac�o�tt�xtc�x�t ;>f�-�€a�s�x
<br />�t+ ma�a�5ac�s( a7KKetoc�D 's�x�.^cd�tc>�alartaoxalax nMamX xtx�mtotocetemtx �xx x
<br />(11) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(111) interest on the note secured hereby; and
<br />(IV) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mort-
<br />gagor prior to the due date of the next such payntel.t. ccalstitlate an event of default under this mortgage. The
<br />Mortgagee may collect a "late charge" not to exceed tm;i cents (4v) fur each dollar (51 ) of each payment more
<br />than fifteen (15) days w arrears to cover the extra expense involved in handling delinquent payments.
<br />:1. 'That if the total of the payments made by the Mortgagor under 0h1 of paragraph '_' preceding shall exceed
<br />the amount of payments actually made by the Mortgagee for eround rents, taxe- and assessment- or insurance pre-
<br />miums, at_<- the case may be, such excess, if the loan Is current, at the option of the Mortgagor, shall he credited h\
<br />the Mortgagee on subsequent payment- u) he made h\ the• Mortgagor. or refunded le the Morieagor If. however. the
<br />monthly payments made by the Mortgagor under r 1 i of paragraph ' preceding shall not be ;uificient to pay ground
<br />rent, taxes and assessments or insurance premiums. as the case may he. when the same -hall become due and pay-
<br />able. then the Mortgagor .shall pay ill the 1lortgagee am amount nec•es,an to make lip the deficiency. on or before
<br />the date when payment of such ground rents. taxes, assessments or insurance premium, >hall be due. if at an
<br />time the Mortgagor shall tender to the Mortgagee. in accordance with the provision- of the note secured hereby.
<br />full payment of the entire indebtedness represented thereby, ehe Mortgagee -hall, in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor all payments made under the provisions (JQXX dlkPXOWl1 .'t
<br />V.aa;,a:aMt uavuc cirri veur�aaaasti>,rx ti yy xY v •....... • •• • • )i1fNiXilf1&li V li Vr11iY �X kti:(1414>f r\iX�a4t.�3lXfidiii.tdiaai kill `[!fii�tK}l]Gk�Y
<br />1 of paraenaph 1 hereof. If there
<br />shall be a default under any of the provision, of this mortgage resulting in it public -ale cif the premises covered
<br />hereby, or if the Mortgagee acquires the property otherwise :after default. the llarrtgagee -hall :apply. at the time of
<br />the commencement of such proceedings, or at the time the property a- otiherwl -e :acquired, the balance then remain-
<br />ing in the funds accumulated under r IJ of paragraph '_' preceding. as it credit against the amount of principal then
<br />remaining unpaid under said note. M1iKl iNK.jrl6tifii Pi`+sYdjh tlri ji J+ aleyi )liiti+NrYbT("AKMUXO\`iili4ih' 11 `rtitlTkliXi!
<br />�TQKX
<br />d 'That the Mortgagor will rat, ground rents, saxes. ;ts cs,ments. w,a:cr rate,. ind OCT , t�osernmental .,r municipal
<br />charges, fines, or impositions, for which provision has not been made hereanhciore.. :nd In default thereof the \ortgaece nls\
<br />pay" the same: and that the Mortgagor will promptly" deliver the official receipts therefor to the Mortgagee
<br />5. 'The Mortgagor will pay all taxes which may be le\1cd upon the Mortgagee , Interest in said real elate :Ind improve
<br />ments. and which may be levied upon this mortgage or the Licht secured hereto 1hut ellll it, the event that such I, not prohthll
<br />ed by lau and only" to the extent that such will not make this loan u,unouv. hill cs,fudinl; .!ill rraronte bas. Mate „r Federal.
<br />imposed on Mortgagee, and will file the official receipt show ing skl:h payment w 1th the Mortgagee i pon \ wiaoor. of ,hi, ender
<br />taking, or if the Mortgagor is prohibited by anv law now, or hereafter c V sting from pa\ Ing the who;c „r am portion of the afore -
<br />taxes. or uptin the rendering of any court decree prohibiting the pal ment M the Mortgagor or and ti:1) I :Ixc . t,r if wish law
<br />said
<br />sir decree provides that any amount so paid by the Mortgagor shall he : redited on the moilg;age debt. the Morle agec'hail hat \c
<br />the right to give ninety days' written notice to the owner of the mortgaged preen,c,. requiting the pal motel „f the moltilage
<br />debt If such notice be given, the said debt shall become due, payable ovid :otlectihic :it the espitit €ion it? ,ani lnnef c da\,
<br />6 'That should he fail to pay any sum or keep anycovenanl ptaytded for n1 this Motleitte, then the \lollozaccc. :d Its .tp-
<br />iton, inav pay or perform the same, and all expenditures so made shall he ,added to the principal Burn ow Ins! its the aho%c note.
<br />shall he secured hereby, and shall hear interest at the rate set forth tit the s;ud little, until prod
<br />That he hereby assigns, transfers and sets over to the Mortgagee. to he ipplied wktard the pa\ nrcru of the note :anal at!
<br />,urns secured Hereby in case of ;a default in the performance of any of the terms and t •,motions of On% Mortgage of the ',Lid
<br />name. all the rents. revenues and income to he derived from the mortgaged premises durnaft such little :„ Ific mortgage Indehlvd-
<br />tless shall remain unptanE and the Mortgagee shall have power to appoint soy anent or agent, 1 nla\ deslle Ior the purpose of
<br />repairing said premises and of renting the %little and collecting the rents. re \colic, mid fnaalic.. ild it mat pa\ out ,,t said Ill -
<br />carmcs all expenses of repairing said premises and necessar\ cormill lot-.1nd expenses ancutrekf ill renting and nlanagmlt the
<br />same and of collecting rentals therefrom; the balance remaining. if any, to he'tpl \lied toward file disehaarge of said nlottp'afte
<br />indebtedness.
<br />N. 'That fie will keep the improvements now existing cir hercafler cock tell tin the nlot1paged properly. nl,ured is neat, he
<br />required from time to lime Iry rile Mortgagee against loss ht fire ;ind othcl haimtls. , nuattic, .ind 1 onnagen :le, n1 '1101
<br />amounts and for such periods as may he required by the Mortgagee :and w df pa\ protlpti\ . w hen doe, and ptelmotil, on such
<br />Insurance prevision for payment (If which has not heal made herelnfefele Nil Insuial:c ,h;dl be'allled Ill ee,111pa11ie, :y,
<br />proved by the Mortgagee and the policies and renewals thereof 'hint be held by the Mortgagee ,ind h1Ive anaehed therein loss
<br />payable clauses in favor of and inform acceptable to the Mortgagee In evcnl of loss Mortgagor wlli 11I\c lnanaedlale notice h\
<br />mail to the Mortgagee, who may make proof of loss if not made pronlpth In Mortgagor. and each ln,na,nre ,. mr my roll
<br />:erned is hereby authorized and directed fo rn:ake pavnlenl for such los, dtrectl\ to the Mortgagee rllslead of to the Moi lragttf
<br />the insurance Occcds. thereof. FlI a\ lsv applied I'\ file Mol lluugee ;If cis ,grtion clthct
<br />and the Mculgaiace jointly. and pl or ant, pall
<br />fork reduction of the tilde hied ne'44 hereby seetired or to the te,towlion "t Iepalf of till' jnope'rt\ dalllaitcd il+c\vnl of tile' to
<br />Ihr srrufcd helrhk
<br />,urc of this mortgage or other tramlei of title to the mortp;uged woper1% m csungulshnunl .d lndrhte,tness .
<br />At right. title and fmtcrest of the Mortgagor fn and to any n1,11uu1cr pohete•, then Ill f ,err shall pas, 1-1164, 1,110 h,a,el !.t rf vurr
<br />to "That as addifional and cullatend s i mm for tilt pavmmOIl of rile little des. abed. and .III 'um, to he, onto dui t11del Ifu,
<br />morf ftagC. the Mtrllgag9rr flerf f +y Ia9Ylgllti It, file �llnrlgagee .ill f,refn,. le'\er111 L•,. It,l .l if ll`♦. 1111hf, 111d hk•Ill: ill, ,lelllllllg lo Ilia'
<br />%lortgagur amder ,ariy ,ind all cal and gas Isaac, tat '.lid ptenlnc,. 'oath Iha• light In ae'.cala' . nd 1e.clpl lot Oil, •,mlr .+lid
<br />there to sire) nn1 lrladne s a, well before a, aflel default m the +.nulfrnal, .J Ihr, ww !bake .11,11 'he \1ei tc.t:re m,\ drncttld 'cir
<br />for .end res:over ,o1v h pavnacnts wheo due ; lid payable. hill 'hall I'M f,e !equnr,i 1., Ic••nn.lre
<br />sill hcr,lrn<• null :vuf .,nd upan n•Irusr .,f this nwrtiraue
<br />
|