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<br />$3-- fiG027a3
<br />and upon request of Mortgagee, the Mortgagor will pay to Mortgagee, n
<br />addition .to the installments of principal and interest payable under the rms
<br />of the Note secured hereby, monthly until the said Note is paid in fu ,the
<br />following: ~
<br />A sum equal to all taxes and assessments, and al- other imp itions
<br />next due on the premises described herein (all as estimate by the
<br />Mortgagee) ptus the premiums that will next become due and
<br />payable on policies of fire, rental value and other insurance
<br />.covering the said premises and required under the t ms hereof,
<br />less all sums paid therefor, divided by the• number of months to
<br />elapse before one month prior to the date whe such taxes,
<br />assessments, charges, impositions and premiums s all be due and
<br />payable.
<br />All such payments described in this paragraph shall a held by the. Mortgagee
<br />without accruing or without any obligation arising r the payment of interest
<br />thereon and may be commingled with the general unds of the Mortgagee and
<br />shall not be, nor be deemed to be, trust funds All such payments shall be
<br />added together with the payments required to a made under the Note secured
<br />hereby and Lhe aggregate amount thereof s II be paid by Mortgagor each
<br />month in a single- payment to be applied b the Mortgagee to the following
<br />items in the order set forth: (i) taxes, a essments, other public impositions,
<br />fire, rental value and other insurance pr iums; (ii) interest and principal on
<br />the Note secured hereby. Mortgagee all have the right to make any such
<br />payment of taxes, assessments and im sitions notwithstanding that at the time
<br />any such tax, assessment,. charge imposition is then being protested or
<br />contested by Mortgagor unless, up not less than forty-five (45) days prior
<br />to the due date thereof, Mortgag shall have notified Mortgagee, in writing,
<br />of such protest ar contest, in ich event, as the case may be, Mortgagee
<br />shall make such payments and r protest in the manner prescribed by- taw or
<br />shall withhold such payment• provided, however, that such contest shall
<br />preclude enforcement of col tion and the sale of the mortgaged premises in
<br />satisfaction of such tax, a essment, charge or imposition. In the event such
<br />protest or contest shah o might resutt in penalty or other charges, Mortgagor
<br />shat! likewise deposit nthly pro rata the amount of any such penalty or
<br />additional charge. A deficiency in the amount of any such aggregate
<br />monthly payment she constitute an event of default hereunder and the whole
<br />of such principal m shall immediately become due at the option of the
<br />Mortgagee. Any xcess funds accumulated pursuant to this paragraph
<br />remaining after a payment of the items therein described shall be credited
<br />to the subsequ t monthly payments of the same nature required thereunder;
<br />but if any such item shat) exceed the estimate therefor, Mortgagor shall,
<br />without demand, forthwith make goad the deficiency. Failure to de so before
<br />the due date- of such item shalt be a default hereunder and the whole of the
<br />said prinGi`pal sum shall immediately become due at the option of the Mortgages.
<br />If the premises described herein are sold under foreclosure or are otherwise
<br />acquires by the Mortgagee after default, any remaining balance of the
<br />accumulations under this paragraph shat! be credited to the principal secured
<br />heresy as of the date ^f the commencement of foreclosure pr^ceedinys cr as
<br />ofithe date Lhe title Lo the said property described herein shall be otherwise
<br />3. To keep the premises free from statutory liens of every kind,
<br />other than nondeiinquent real estate taxes and assessments; to pay, before
<br />de{inquency and before any penally for nonpayment attached thereto, al{ taxes,
<br />assessments, including, but not limited to sewer, sidewalk and street lighting
<br />assessments, water rates, sewer rentals and other governmental or municipal
<br />or pub{ie dues, charges, fines or impositions which are or may be levied
<br />against the premises or any part thereof; to pay, before delinquency and
<br />bafesra any penalty for nonpayment attaches thereto, any and ail real estate
<br />taxes- and assessments which may be levied ar assessed against the Mortgages,
<br />includ#ictg every mortgage interest which Mortgagee may have or be deemed to
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