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<br />To H.4vE axn To HaLD the same unto the Mortgagee, as herein pravidcd. Mortgagor represents to,
<br />and covenants with, the Mortgagee, that the iiiartgagor has goad right to sell and convey said premises;
<br />that They-are- free from eneYimbrance, except as hereinotherwise recited ;that the Mortgagor will warrant
<br />anddrfend the same against-the lawful claims of all persons whomsoever. Mortgagor hereby relinquishes
<br />all~ri~nts rtt` hflrQae?tead, a.i a:rite] rights, etcher in law or in equity, and a33 other contingent interests of
<br />tli~'.li"oz°kgagor n atxi tc~ the &bove-described premises.
<br />t°xovcF~U ejUw,~rs, anar tihese presertrs'sreexecu~ea and aetiverea upon zne rot}erring canaizcons; $o
<br />..-r+.
<br />_riart ~ a~or agrees to payto the Mortgagee, or order, the aforesaid principal sum with interest from date
<br />at tlae rats a# dine and ox~ e ~ta.l2~r centum {q c~fio) per annum an the unpaid-balance until paid..
<br />Thesaicl~rineipatandinterestsl~allt~payab}eatt'iieail`iceof i~#c~a't ~ e P2ue Znco~plirated
<br />in ~g,NO ad 3 bolo rsdp , or at such other place as t~e older of the note may designate In
<br />writinglivered ire mailed to the Mortgagor, in monthly instaIhnents of Two-hundred FOrty-Eight
<br />~ ~~ # t}t} I?allars {$ 24~. ~ fl ); commencing on the first day of Febrizary i97$ ,and continuing on
<br />-the first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the fitial
<br />gapraent of principal and interest shall be due and payable an the first day of Ja.nu~.ry ~pQg ; a}1
<br />according to the terms of a certain promissory note of even date herewith executed by the said Mortgagor.
<br />d:
<br />The Mortgagor further agrees:
<br />1. He will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any
<br />time, without premium or fee, the entire indebtedness ar any part thereof not less than the amount of one
<br />installment, yr one hundred dollars (~IOd.QO}, whichever is less. Pre~yment in full s~ he.credited bn
<br />the date received. Partial pre~yment, nther than on as installment due date, ne~3 net be credited-until
<br />the nest following installment due date ar thirty days after such prepayment, whichever is earlier.
<br />2. Together with, and in addition to, the monthly pay°znents of principal and interest payable-under _
<br />the terms of the Hate secured hereby, Mortgagor will pay to Mortgagee, as trustee, {underthe terms of-this
<br />trust as hereinafter stated) on the first day of each month until said Hate is fuI}y paid :
<br />{a) A sum equal to the ground rents, if any, next due, plus the premiums. tha£ will next-become-due -
<br />and payable on policies of fire and ether hazard insurance covering the mortgaged praper$y,
<br />plus taxes and assessments next due on the mortgaged property {all as estimated by theMorE=
<br />gages, and of which the Mortgagor is notified) Less all sums already paid t3~erefor divided by
<br />the number o€ months to elapse before one month prier to the date when sorb ground tents,
<br />premiums. taxes and assessments will became delinquent, such sums to be-held by Mortgagee
<br />- in trust: to, pay said ground rents, premiums, taxes and special assessments.
<br />{$) The aggregate of the amounts payable pursuant to subparagraph {ctj -sad those payable crn the
<br />.note secured-hereby, shall be paid in a single payment each montls, to be aPPlled to the fvlIpw-
<br />i.6 ~.,o=~.s u th<° order eta*.tid :
<br />(t) ground rents, taxes, assessments, fire and other hazard-insurance preanituns;
<br />_ {u) intei-eston the note scoured hereby; and
<br />{itt} amortization of the principal of said Hate.
<br />_ any deficiency in the amount of any-such aggregate monthly. payment shall, unless made good
<br />by the Riortgagar prier to the due date of the uext such payment,°canstitut~ an even;, t~f Ault
<br />under this mortgage.. At Mortgagee's option, Mortgagor will pay a "late charge" tpat:execed
<br />ing four per centum (~ ;~ } of any install meet when paid more than fifteen {I5} days a€tex ttte
<br />-clue date thereof to cover the extra expense involved in handfing delinquent payments, but each- -
<br />"~+~ eharae" sh?2! Hat hr paY~ble out of the p_* neet~s of anysale tna€la to satisfgthe-irtdeht_:
<br />Hess secured hereby, unless such proceeds are suflieient m discharge the entire indebtedness and
<br />all proper costs sad expenses secured thereby.
<br />3. If the total of the payments made by the Mortgagor under {ra; of paragraph 2 preceai8g shale -
<br />exceed-the amount of payments actually made by the Mortgagee, as trustee, for ground xerits, taxies and _
<br />is or insurance premiums, as the-case may be, such excess shall be credited: ~ tie lt3ortgagee -
<br />an subuent payments to be made by the Mortgagor for such items or, at Mortgagce's option, as trustee,
<br />he refunded to Aior#~agar. If, brew-aver, sucli mant'~ly vmarits shall not he sutTi~cieut to pad s~arh
<br />_ tdma ~heu flee earns mall- become due sad payable, rhea the Mortgagor shall pay to the ~~irtgag~e, as
<br />trustee, any ama,mE necessary to make trp the deficiency within thirty {3pj days-after written uatice €$orn
<br />_ the Mortgagee statilig ,the amount'of the deficiency, which notice may be given by-mail If at any-time
<br />tlty Mortgagor shall tender to the Mortgagee, is accordance with the gravistans of the note- secured
<br />hereby fu3l payment of €: entire indebtedness- represented thereby, the Mortgagee, as trtistee, shall,
<br />is computing the amount of such indebtexlaess, credit to the account of the Mortgagor any credit balance
<br />accumiihttea ntider 13ie provisions a€ _{al of pars~graaph 2 hereof.- If there shall _be a default uai~er. arRy
<br />of the gravisiana of-this triortgag'e resulting in a public sale of the premises cx<vered hereby, ar i# use
<br />ate sequii~es the grog€rty atherw%sa-after default, the Mortgagee;;as trustee; shall apply; at-the
<br />Li.:.e of tl~e c~3znm~ncement of such proa€edinga. ter st -the tsitne alts PT'oF~rtY is otherruise aclul.~ed,. t~
<br />ainotrnt t~ reanav».ng to credit the Mortgagor uttder_-{eej of p~aragreph 2 prei~•rIing, as a ereditod the
<br />interest accrued and unpaid and the balance to *he priricipat then remaining unpaid an said note.
<br />~#. The lien of this instrument slut]] remain in fulLfarce and effect during any postp~tnement or exten-
<br />4 r. ci t.t time :,f f,a;,u.er=t of the iadzt;tedness er aGy part-t#iereof cscured hereby.. -
<br />L
<br />• 5. He will pay alt ground rents, taxes, assessments, water rates, and other governmental or ainnici-
<br />pal charges, fines, or impasiiions, levied upon saizi premiss and that he wilt pay all taxes levied upon this
<br />~Ivr:B~, or the debt secua ed thereby, t<~gcthar with any other taxes or assessrient;, whieli -may be levied
<br />under*.he Is,ws of «~elsras'~a lgain8t file Mortgagee, or the Iegai holder of acid principal note, on account of
<br />this indabteclnass; except when payment-for all. aucl items has tl[eretofareli~een mazle under (a} of pare-
<br />graph 2 hereQf,,and he will promptly deriver the oincial receipts therefor to-the Rortgagee: In default
<br />thereof the Mortgagee may pay the same.
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