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<br />83....+W5385
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<br />allowed by law or federal reguliltlon. Principal amounts prepaid prior to maturity must
<br />be In amounts equal to one or more subsequent principal payments.
<br />3. That in addition to, and together with, the monthly instal iments provided
<br />under the terms of the aforesa i d Prom i ssory Note and any other notes or agreements
<br />add itlonal advances as pravi ded herei n Mortgagor wi II pay as an advance payment to
<br />Mortgagee on the first day of each month untl I said Note and the totallndeb.tedness
<br />secured herebyi 5 full I' pa i d, an amount est I mated byt'lortgagee to be sutt I ci ellt to enable
<br />the Mortgagee to pay a I I taxes, asseSSments (genera I or spec I a I ), rents, and' other
<br />Similar charges against the above described premises, as the same b.8come' due. Such
<br />advance payments sha II be pa I d each month together Iv i th the month I I' instal imentsprov I dad
<br />for under the terms of sai d Promissory Note and any other notes or agreements for
<br />additional advances as provided herein in a single payment and shall not be, nor'deemed
<br />to be, trust funds but may be commingled with other such funds or the generaJfunds.otthe"
<br />Mortgagee, and no interest sha I I be payab I e I n respect thereof. Mortgagor sha I I promptly
<br />forward to Mortgagee a II bill s for taxes, assessments and rents and MEirtgagee w il I . use
<br />said adv,ance payments for the payment of said bi lis. Mortgagee may, from timeto>time,
<br />at its option, waive, and after such waiver, reinstate any and al I provisions of this
<br />paragraph requiring such advance payments, by notice to Iclortgagor in writing; \1hi Ie such
<br />wa I ver is I n effect, Mortgagor shal I pay a I I taxes, assessments and rents as otherwi se
<br />p rov ided here i nafter.
<br />4. I f the tota I of the advance payments made by the Mortgagor shall exceed the
<br />amount of payments actually made by the Mortgagee for taxes, assessments or rents, as the
<br />case may be, such excess, at the option of the Mortgagee, shal J be credited'by the
<br />l'iortgagee on subsequent payments to be made by the Mortgagor, or refunded to the Mortgagor.
<br />If, however, the monthly advance payments made by the Mortgagor shal I not be sufficient
<br />to pay such taxes, assessments and rents, as the case may be, when the same shal I become
<br />due and pay.able, then the Mortgagor shal I pay to the Mortgagee any amount necessary to make
<br />up the deficiency, on or before the date when payment of such taxes, assessments or rents
<br />shall be due. I f at any time the '.lortgagor shall .render to the Mortgagee, in accordance
<br />with the provisions of the (,ote secured hereby, full payment of the entire indebtedness
<br />represented thereby, the l'lortgagee sha I I, in comput I ng the amount of such indebtedness,
<br />credit to the account of the Mortgagor any credit balance accumulated under the above
<br />paragraph. I f there sha I I De a defau I t under any of the p mv I s ions of th I s Mortgage
<br />resulting In a publ Ie sale of the premises covered hereby or I f the I'lortgagee acqul res the
<br />property otherwise aher default. the ~1ol-'I'gagee shall apply In such manner as ~lortgagee
<br />sha II determi ne the ba I ance of advance payments then rema in I ng in "ihe funds accumu I ated
<br />under the above paragraph, as a credit against the indebtedness secured hereby.
<br />5, That in the event any of the monthly advance payments provided herein or monthly
<br />installments provided for under the terms of said Promissory Note and any other notes or
<br />agreements for add i t i ona 1 advances have not been made by 'rhe tenth day of the month in
<br />wh I ch such payment Ivas due, a I ate charge of up to ten (10) pel-cent of the amount of sa I d
<br />month I y payment may be. assessed by the Assoc I at i..in to cover the extra expense i nvo I ved
<br />In handl ing del inquent payments. The Associatidl't shell I not be obi Igated to accept any
<br />month I y payment made after the tenth day of the month un I ess sa i d month I I' payment sha I I
<br />be accompanied by the ful I amount of the late charge assessed by the Association as
<br />provided herein.
<br />6. To pay any and a I I taxes, assessments (genera I or spec I a i ), rents and other s I m I I ar
<br />charges lev i ed and assessed aga i ns t the I' rem I ses, th I s i~lOrtgage, or I ndeb tedness hereby
<br />secured, before they become delinquent, for which provisions has not been made hereinbefore,
<br />and in default thereof the ~iortgagee may pay the same, and all moneys so advanced with
<br />I nterest at f~ ~~?~ed % from the dat'e of such payment sha II be repa I d by Mortgagor upon
<br />demand, and shall be secured by this Mortgage.
<br />7. That Mortgagor wi II keep the improvements on said premises Insur"ed against loss
<br />(from fire, I I ghtn i ngand other hazards i nc I uded I n the standard extended cover~ge endorse-
<br />ment plus flood insurance where required by mortgagee) in an amount not less than the
<br />unpa i d ba I ance of the indebtedness secured hereby, with loss, if any, payab I e to sa I d
<br />Assoc i at Jon, I n a company or camp an I es acceptab I e to the Assoc i at i on; and shou I d such po I icy
<br />or pol icies contain any provision that could limit the insurance company's I labi I it I' to
<br />pay the amount of any I ass or damage up to the fu I J amount for wh i ch po I icy Is wr I tten,
<br />the amount of insurance to be provided shall be In an amount sufficient to, at all times,
<br />fuLly protect the Association. ! f Mortgagor fai Is to procure or maintain such Insurance
<br />inthem,mner specified herein, the Association may, at its option, p,rocure and pay for
<br />such insuranCe, and all moneys so advanced "Ith interest at ~ ~~~~ed% from the date of
<br />such.Paymenf shal I be repaid by Mortgagor" upon demand, and shall be secured by this
<br />Mort:gage.
<br />8. Th.at the>Mortgagor "ill keep the bu i I dings upon sa I d pre.rr, I ses in good repa i r, and
<br />ne:JTh~,r-___c~,itrlo~: permIt wast~ upon saId land, nor suffer the same premises -1'"0 be used
<br />1:0" any.unlawful purpose. 1.tlOrtga.qor further agrees I'hat 1,Ii thout the I<ritten consent of
<br />MtlIlllil Federal Savings i'l.~9 Loan no "b1J i I dings or add I t ions i'o ex is 'r I n9 b u i I dings she I J be
<br />€>J"eptE;.d illlq all parking and landscaped areas shall be satlsfactori IV maintained.
<br />Q. ThatIn the even'!' the prem i 5es or any part thereof be taken or damaged by reason
<br />of anypl.lt:dic tmprove~nt or cOl1de,mation proceedings, or under right of eminenr domain,
<br />-Qr in_any o'th~r ma-nneF,~, ~r."tg!;l:gee sha 1 i ~e_ ant,! t I ad at f ~s opt i on to con1fi1ence ~ dppear' j n,
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