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<br />- - RECORDER'S MEMO; rEr„ewrr OF
<br />- ~~~ ~~~~~~ - WRITING, TYPING OR PRINi1NG Z _
<br />1 UNSATISFACTORY
<br />iN THIS DOCUMENT WHEN RECEIVED
<br />;lowed by law or tederal regulation. Principal amounts prepaid prior to maturity must
<br />.< i:r amounts-,equal. to one or more subsequent principal payments.
<br />_ 3: `,That in addition fio, and together with, the marethiy installments provided for-
<br />,1:~'er the terms of the aforesaid Promissory Note-and any other notes or agreements for
<br />_;dcltianal-advances as prom dad herein Plartgagor will pay as an advance payment fa
<br />,r t•iagee on the first day of each morifh anti l said lJote-and the iota) indebtedness
<br />..'cured hereby is fully paid, an amount estimated by Mortgagee to be sufficient to enable
<br />::.r i~~rtgagee ta.pay all taxes, .assessments !general or special), rents, and o#her
<br />;r.+iiar charges agairTSt the above described premises, as the .same become due. Such
<br />~.ance payments shall ba paid. each month Loge#her with the monthly instalments provided
<br />>r a*rdar #ne terms of said Promissory No#e and any other notes cr agreements for
<br />:,~Ifiiunal advances as provided herein in a single payment and shall not be, nor deemed
<br />trust funds but may be commingled with other such funds or the general funds of the
<br />5r gagee, and no interest shat! be payable in respect ther-eaf. Mortgagor shall promptly
<br />`=rx,dra to hbrtyagee all bi(Is ,for taxes, assessments and rents and Mortgages will use
<br />,f;i3 advance payments for the payirent of said bills.- hbrfigagee may, from time to time,
<br />. .ifs-option, waive, and after such waiver, rsirstate-any and all provisions of this
<br />;agrapn requiring such advance payments, by notice to Mortgagor in writing. tdhile-such_
<br />vier is in effect, Piortgagi~r shall gay ail taxes, assessments-and rents as otherwise-
<br />;: '•vided hereinafter.
<br />4. tf the Iota} of fihe advance payments made by the Mortgagor shalt exceed the
<br />~r3t of payments actually made by the Mcr#gagee for taxes, assessments or rents, as the.-
<br />e maybe, such excess, at the option of the Mortgagee, shall be credited by the
<br />__ t«a~ee on_suns_equent payments to be made by the tflorfigagor, cr refunded to the Mortgagor.-
<br />i,~a~ever, the TDanthly advance payments roads by the Nlortgagot shat!-not ~e 5uflic-lent
<br />..,may such taxes, assessments and rents, as the case may he, when the same shall become.
<br />a=-rd payable, then the Mortgagor shall pay to the PAortyagee any amount necessary: to make
<br />. a de#iciency; on or before the .date when payment of such taxes, assessments or rep#s
<br />;l be-due:: !# afi any time the Mortgagor-shall tender to the Mortgagee, in accordance
<br />. ?fie -provisions of the-Note secured hereby, tull payment of the anti re indebtedness
<br />,.,anted tht~eby; the h'lortgagee shall, in compufing the amount of such indebtedness,
<br />,~ 7o ins account of #ha Mortgagor any credit balance accumulated under fihe shave
<br />r,~;~abh. tf there shall ba a default under any of the provisions of this Morfigage
<br />-sa;in~ In a public sale of the premises covered- hereby or ifi the Afortgagee acquires the -
<br />.•:erty othariclse after default, the Mortgagee shall apply in such manner as Mortgagee
<br />>* .i determine the balance ct advance paymen#s then remaining In the funds accumu-sated
<br />~s the above paragraph, es a credit agains# the Indebtedness secured hereby.
<br />5. That in the avant any of the monfihly advance payments provided herein or monihty
<br />~ilmer~#s provided for under the terms of said Promissory Note and any other-notes or
<br />,~:~~nants far addit-Iona! advances Nava not bean made by the tenth day of the month in
<br />_:!.such payment was due, a to#e charge of up to ten (IO) percent of the amount of said' i,
<br />~ni~: paymeh# may be assessed dy the Association to cover fhe extra expense--involved
<br />-, h~rsd3ing delinquent payments. The Association shalt not be obligated to accept any
<br />„yti payrtzen# made-after the tenth day of the monfih unless said mc,nth[y payment shalt
<br />~~,,:o~anled by the full amount of fihe late charge assessed by the Association as
<br />.- sawed herein.
<br />t~. To pay any and a}t taxes, assessments Cgeneral ar spatial), rants and other similar
<br />:fie" 12viad and assessed agains# the premises, #hIs idortgaga, or indebtedness hecaby
<br />ztred, before they become de)inquent, for which provisions has na# been mach hereinbefore,
<br />ir, c}efauit thereof the Mortgages may pay the same, and al! moneys so advanced with
<br />?arc-s3 at . }t p from the data of such payment shall be repaid by tortgagor upon
<br />:a+~d, acrd siTall ba secured by this pbrtgage.
<br />7-. That }dortgagor will keep the improvemen#s an said premises Insured against toss
<br />:-: fire, lightning-and other hazards included in the standard extended coverage ericorse-
<br />,- ;,}us ftoc~it insurance xhere required by mor#gagea) in an amount not less than ttre
<br />:i ba-lance of the indebtedness seturad hereby, with lass, If any, payable to said
<br />-~ea-ion, ist a ter,~sany or companies accep#abla to the Association; and should such pciitcy
<br />~_;~il~ies contain any pravislan that could limit the insurance company's liabili#y to
<br />ft;e amount of any. toss ar damage up to tfte #ull amount for which policy is written,
<br />• ~,•~;in* of insurance #o be provided shell be in an amount sufficlant ta, at all times,
<br />_.1, protect the Association. 'tf Mortgagor tails to procure or maintain such insurance
<br />:..s- osier specifled.tTerein, Atha Association may, at Its option,-procure and pay far
<br />a*;urance~-,and-all Taonays so advanted with in#arest at tI p from the date of
<br />t,cyment shat! be repaid by Nbrtgagor-upon demand, al•+d shall be secured by this
<br />rTga.ga.
<br />d. 7lTct ttTe Mar~-gagar sii}.t keep the buildings upon-said premises in good repair, and
<br />. .?per coamat raor peln.+# waste upoif sa:Id land,, nor su#fer the sane promises to be used
<br />~ :r any unlawful purpose. Mcjrtgagor.#urtner agrees-that without tiTe written consent of
<br />~ `:. r.4 iederai Savings ana i_oan no buildings or adds#oTts #a existing buildings shall be
<br />-~cte0 and a}t parl.ing and }andscaped areas shall be:'satistac#orly maintained.
<br />~, Tiiat in the event the premises or any part ~ttereof be taKen or damaged by reason
<br />• TTi~• public improvement or cvndemnafion proceading~; or.undar right of eminent domain,
<br />ir, say older mariner, Mar#gagae she;1 lie ahfiifled a#-.its-option to commence, appear in,
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