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<br />83- 006306
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<br />To HAVE ANI) To HOLD the same unto the Mortgagee, as herein provided. Mortgag'l>r represents to,
<br />and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said Prell1i$es;
<br />thattillilY are;fJ'ec".from encumbrance, except as hereinotherwise recited; that the Mortgagor will wa:rrant
<br />and defend. the same against the lawfulcjaims4)f alJpet'll()lls w'homsoever. Mortgagor hereby relinquishes
<br />all tights of homestead. all marital rights; either in law or inequitJ', and all other contingent interests of
<br />the Mortgagor in and to the above-described premises.
<br />PRoVIDE!) ALWAYS, and these presents are executed and delivered upon the following conditions, to
<br />wit~
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<br />Mortgagor agrees to pay to the Mortg-.lgee. or order. the aforesaid principal sum with interest fromcdate
<br />at the rate of per centum ( 'i&) per annum on the unpaid balanceuntiLpaid.
<br />The said princival and interest shall be payable at the office of
<br />in , or at such other place as the holder of the note may designate in
<br />writing delivered or mailed to the ~[ortgagor. in monthly installments of
<br />Dollars ($ ), commencing on the first day of . 19 ,and continuing on
<br />the first day of each month thereafter until said note is fully paid. except that, if not sooner paid. the final
<br />l>llyment of principal and interest shall be due and payable on the first day of ; all
<br />aeeording to the terms of a certain promissory not" of even date herewith execuwd by the said Mortgagor.
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<br />The Mortgagm' further agrees:
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<br />1. He will pay the inclebtNiness, as hereinbef'H't, provided. Privilege is reserved to prepay at any
<br />time, without premium or fee. the entire indebtt,dness 01' ;my part thereof not less than the amount of one
<br />installment, or one hundred dollan; ($100,00). whichever is less. Prepayment in full shall be credited on
<br />the date received. Partial prepayment, other than on an installment due date, need not he credited until
<br />the next following installment due date or thirty days a!wr such prepayment, whi~hever is earlier.
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<br />2. T<;gether with, and in addition to, the monthly payments of principal and interest payahleunder
<br />the terms of the note secured hereby, Mortgagor will pay t{) Mortgagee, as trustee. (under the terms of this
<br />trust as hereinafter stated) on the fint day of each month until said now is fully paid:
<br />(II) A 8Um equal to the ground !'ents, if all)', next due. plus the premiums that will next become due
<br />!'.nd parable on p<,licil~ of lir" and oth.'r hazard itlsurance covering the mortgaged property,
<br />plus taxes ilnd ilssessments next due on Ihl' mortgaged property (an as estimated hythe Mort-
<br />gagt'<!o and..f whit-h tiw Mortgagor is n"lith'd) !,'ss all slims already paid therefor divided by
<br />the numbt:'!~ ni months to d.ap.",(!' b.,~fnril (lIli..' nwnth prior to the <iate when such ground rents,
<br />prt"miurn.... ("Xl'S a!!d a"s"g.'menU will h('{:orne ddinqllent, slleh sums to be held by Mortgagee
<br />in tru~t to pay satd j{l'QUIH.i n'uts. pfvmiums. taxes and spt.~dal assessments.
<br />(1)) The llw"ptt' ,,( the amounts payable pursuant to H,bpamgraph (It) llnd those pllyable on the
<br />note I!teeur('d ht.,.e1w. slm!! I", plli.! ill" SilllClt' !>"...ment Nlcl1 month. to be applied to the follow-
<br />Ing items in tl'u:~ oJ'fter ~tal~:.d :
<br />OJ ground rt!'Ut8. t,ax-es. a~~(~~SnH~nts, rlre and other haxard ins.uranc-e premiums;
<br />(n) intcn,"'st on th,,' noh~ S(~{'ut"pd h""....reby: .and
<br />(lU) afnOniUltion of Ull' principal of .aid note.
<br />Any de/k't.'IlC)' ill the amount (or any SIIf:11 agll'N.'gat.. monthly payment shalJ. unle.'lS made good
<br />by th" M"rtgagol' prior to thl' .llH' dat<. M the Il"xt such parment, constitute an event of default
<br />under thili mortgage. At ~{ortg'agee's of,ti,,!!, .\lortgagor will pay a "late charge" nQt exceed-
<br />ing' four 1"'1' <","tam 1..1 ";) of allY install !Hem when paid more than fifteen (15) days afwr the
<br />due dat!' li",n'o! to ('OWl' the ('xtm ''x pens., involved in handling delinquent payments, but such
<br />"late charlie" shall not 00 payable 'Hit of the proceeds of any sal" made tQ satisfy the indebwd.
<br />nesa lle<:Uf1?d 1"'1'd)y, unless slIch pnlCl'eds al'e sufficient to discharge Ule entire indehtedness and
<br />all prol!l'r costs and eXpmlli('"'I s('Cllred thereby.
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<br />3. If the total of the pa}"tnents made by the Mortgagor under (a) of paragraph 2 preceding shall
<br />exceed the amount of payments actually made by the Mortgagee. a.ll trustee. for ground rents, taxellllnd
<br />assessments or inauranee premiums. as the case may b<>, such excess shall be credited by the Mortgagee
<br />Ol1su~uentpayments to be made by the Mortgagor ror such items or. lit Mortgagee's option, as trustee,
<br />shall be refunded to Mo~gor. If. however, such monthly payments shall not be sufficient to p::.y such
<br />items when the same shall become due and payable. then the Mortgagor shall pay to the Mortgagee. as
<br />truatee. any amount necessary to make up the deficiency within thirty (3ll) days after written notice from
<br />the Mortgagee stating the amount of the deficiency, which notice may be given by maiL If at any time
<br />the )(ortaagor shall tender W the Mortgagee, in accordlln~'ll with the provisions of the note secured
<br />hel'l'by. full payment of the entire indebtedness represented thereby. the Mortgagee, as trustee. shall,
<br />incomput\ng the amount of soch indebtedness, credit to the account of the Mortgagor any credit balance
<br />aooumuIated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under llny
<br />Gf the proviaiou Gf thitI mortgage resUlting in a puhlic sale of the premises covered hereby, or if the
<br />~. aequirultheproperty otherwille after default, the Mortgagee, as trustee, shall apply. at the
<br />time Gf the ~t of such ~ingl!, or lit the time the property is otherwise aequired. the
<br />lUlJOOni then n:maining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the
<br />Inw:nlIIt _rued lUId utlpaid lInd the bala.noo to the principal then remaining unpaid on said note.
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<br />,4; .1'fIeJ~(Jtthill l11~ntentllhaU 1'llrnaln in full furea and "lIret dllring lln)' JlQStponement or exten.
<br />ttWt.t~,itbm()f pa)'tlllflltoifheitidebtOOn_orllny part thet'eOf ~ hereby.
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<br />~ a:.>wm~ ~Igrwnd tl!llt!!. ta-.~t!l,W!lWraW;and l'ther i<1Vllrrunent&! Or mu.nid.
<br />p.te~ .l'\rieII,. o.r impositlowl. i!;vi<!d upon ll<IidjmlmiseJl8l1d that hE> will pe., all taxes levied upon thl!!.
<br />~ or the<Wbt _tired thereb)., together with any ot.lwr tax..., or assessm.!ftts which may be levied
<br />~-~,ia"".'Qi':N~ka..-ai-~t!m!lort~~_t,f)t the!epl h~l~r of" !aid principal notF,_ on account of
<br />Utili ~,,,~ptwh,,npe.ynmlt (Q.r alllllU!hitmnahu theretofore he<llllnad" under (a) of pe.ra.
<br />~2~,ill1IlbewUl ptOllIpl;{yiWllv"rth"offieialreeelpt:ll th"refllr t<ltbe Mortfl'l\l!'t'<l. fn d"fault
<br />tlwrmttk llf(o~ma)' plryth".llllllle,
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