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alt Jehts, obligations and liabililirs inrurrrd by reawn of any as tinn r.+4rn by the M<+rtgagct, as providtJ is this Puagraph, all
<br />of which amounts so paid by th< btgrtgager, with intt[est Thereon from rhr dart of rarh such parmrnc, at Eht ante of thret ptremt
<br />(37e} per annum, shaft he i'aayabtr by rhr Mortgagor to the bfrsrtg~gre on demand and shall bt seturcd by this Mortgmgt.
<br />~. No betiding or other structure or impi;,dvtmenr, fiziurc tar per annal property »inrt({aged }rr,,reby shmtl bt remould or
<br />JrmolishcJ without the prior written ronsrrt of the Mnrtgag< ~. •1•hr Ffv,rtgagor wilt u..t 'm~kE, ptrrtjit `oi s•ffcr :ray alteration of
<br />nr addition to any building nr Daher structure nr improvement uow or which may hereafter be erected or installed upon the
<br />mortgaged property, or any put thereof, except tl~e improvcmrNa required W he made pursuant to Puagnph 3 hereof, rwr
<br />wilt the Mortgagor use, or permit +,r suffer the use nf, any of the mortgaged property for any purpose other than the purpose
<br />or purposes for which the same is now• intrndtd to ht used, without d,e prior svritrcn nmsent of the htortgaget. Tht Mortgagor stilt
<br />maintain the mcrrgageJ proptrty in gnat uwJitiun and start of repair and will not xuffrr or permit any waste to any put thereof, and
<br />wilt promptly comply with all the requirements of FrJenl, state and local gnvernmmts, ur o{ any departments, divisions or
<br />bureaus thereof, poruining w such prop4rty ur any part thcrtof.
<br />3. The Mortgagor will not voluntarily create, nr permit or xuffrr a, be rented or to exist, on or agaitat the mortgaged
<br />property, or any part thrrrof, any lien suptnor to the lien of chi, Mottgagt. exsluxive of the tiro nr liens, if arty, to which
<br />this hfortgage is e:prossly subject, as act forth in the grantmq rlau+c shove, and wilt keep and maintain the same feet from
<br />the claimz of all parties supplying labor or materials which will toter into the cunsiruction nr instillation of the Tmprorements.
<br />,~ 6. (a} The Mortgagor will keep all building;, other strurturrs and imprnvemrnts, inrlwling equipment, now uisting or
<br />which may hereafter he crrrtal nr inualleJ un the land mortgage) htrrhy, u,urreJ against Inca by fire and other haaardt,
<br />ca aualtits anJ ronnngrncres, in such amounts and manner, anJ fur sorb pmnds, all as map he required from time to time by
<br />the Mortgagcc. l?mess nthrrwise require) by the Mortgagee, all such insu nrt,r sh.,ll he effoetcJ by Standard Fite and Eztersded
<br />Coverage Insurance polities, in amnmsts not Icss than necruuy to comply with the coinsurance clause percentage u( the value
<br />applicable to rhr Cncatinn and rho tar ter n( the proptrty to ht revered. All su.h insurame shall he tarried in Campantts approved
<br />hp the Mortgagee and all politics thrnior shall hr m sorb form and shall hour a1L„hrd thtrrtn Ims payable clauses in boor of the
<br />Mortgagcc anJ any other parties a< shall be satisfac Jury 6, the Mortgagoc• All sn,h pulse its and attach mcnts thereto shall, he delivered
<br />~ pruntptly to the Mortgagcc, unlcas they err required to he dtlivcn,l m the holder of a lien of a mortgage or similar instru-
<br />rnert to which this Mortgage is expressly s.~btecl, in aahiih latter rcenl rteti6.at,. d~rrenf. satidactnry to the hfortgagec, shall Ix
<br />delirerad promptly to the Dfortgagce. 'Chc Mortgagor will pay promptly when Juc, as hrrcinaftrr prnridrd, and any and all
<br />peer»iums e» such insurance, anJ in ra'ery tear in which payment thereof is not made from the deprnits therefor required by this
<br />Mottgagt, promptly submit to the hortgagee for rxaminalion receipts nr odor cvidenc'e n( such payment a shalt be satisfataocy
<br />to the Mnng.,ger. The Mortgagor map obtain and pay the premium nn (hut aball he un<Icr nn nbligstion to do so) every kad of
<br />insurame rryuirrJ hecehy if dre amount of such premium has not hero drpnsitrJ as required by this Mortgage, in whith vent
<br />the Mortgagor asst pay to the Mortgagor every premium an paid by the Mortgagee.
<br />(b} :n the event of loss r+r damage to the mnrtg^Red proptrty the Mortgagor will give to fhe Mortgagee immediate notice
<br />thereof by mail, and the Mortgagee m.ry make anJ Eile proof of Inca if not made ntherwiae pmmptlr by or nn behalf of the
<br />Ttnrtgagar. F.a,h insunnu con,panv issuing any urrh policy is hrrrhv .mthurirtd and dircrted M make paymrnt hereunder for
<br />' such loss directly to the Mortgagcc, inxlra=) of to rhr Mortgagor .rod Ibc Mortgagee lointlr, unltst the amount of loss is pap
<br />atilt first to the holder of a lien under a mortgage nr -similar instrument .n whkh this Mottgagt is expressly subject; asid the
<br />insurynrr pros olds or any part thereof is rrceive.l by the hfirtga qtr may he applied by the Mortgagee, at its option, either
<br />~, in rrductinn of the indthtedness bcrrhq securc.l. of to the restoration rat repair of the mortgaged property damaged. In
<br />the evert of foreclosure of this htnttgage, or of auy transfer of title to rhr mortgaged property in extinguishmrnt of such indebt-
<br />edness, all right, tit!c and interest of the Mortgagor in and to every sn.h insannrr pofiry then in farce, subject to Fhe rights
<br />anJ interest of the holder of env au:h prior lien, shall pass to rhr grantee acquiring title W the mortgage) property togethtt with
<br />such policy and appropriac assignment of curb right, title and interrat which xhill hr made by the Mortgagor.
<br />7. (a) In erJn more fully h, protect the security u( this Mortgage, rhr hU,rtgagnt sha^ deposit with the Mortgagee to-
<br />gethrc with, and in addition lo, the paymrnt of principil and interest monthly nn account of the Note securtd hteebp, until
<br />the Note is paid in full, an amount of mm~ey equal to the rotas ammmt of (i) ground rents, if any, next becoming due, (ii) the
<br />premiums ntxt becoming J.rr +:n rhr pnlicira of fire and all other ha>anl inorranrt rtquirrJ by this Mottgagt with- rtsprct to the
<br />' mortgaged proptrty, (iii) teats- assrssmenta, water ratty and other cusetnrncncal rlsatgra nrvt htrrsming due on t}tt mnsegagrd
<br />proper ty {all the foregoing amounts as tatimatal by rhr Mortgagor and aN forth in a written entire of sash estimate by the
<br />Mortgagee to du hfortgagnr from time to time), iesa alt amnunta that may already hart hten paid therefor, divided by the number
<br />of calendar ms~nths to ~lapat htfnre one raltn.lar ttinnth paint to the Jatt wh<n such ground rents, premiums, texts, sssess-
<br />usenl., wirer t.stts an:I other govrrnmrntal =taarats. rraptrtivelv, wit! her+,ruE JuE and payal±lt. !f any an±cunt rtfttrtd to in
<br />ttausrs (i) through {iii} hereof is requited to ht depgsitrd by the Mortgagor under a mortgage or simiUr instrument having
<br />' pti»r'ity r,.rr the )ire r+f chi=. Mottgagt, rhr Ainrtgagnr chili meet rhr Jcp-nsus r:yuir€d icy this Paragraph 3 only in she estnt of Cot
<br />- - - rettntnati~•fl of skrit zh{igafi:=n ttndrr the prYnT moitgagr rsr si milsr i.nattso»enT. Thr Mortgagor chaff give prompt notirt in writ- - -
<br />ing to the DtnrlRaRee n( rhr orrurrrntr of the bstmsentinnrJ event- All amb anwnnta sn Jepuaitrd with the Mortgagee shall he
<br />- heW by the Ttnrtgager, or any agent dexi,xnated by it, in trust to he uxd only f.•r rhr payment n( sorb grnvdd rent+, premiums,
<br />texts, assessrnenN, water tetra and other goretnmenUl charges. Nn intrreu shall he payvhle by the Mortgagee un any stun w
<br />Jepositrd. '
<br />(b) All amounts require) eo hr depnxlttJ within rhr Mortgagee manthlq in accnrdsnre with paragraph ?faj hereof, and the
<br />nmm~t of principal and interest to he paid urh month nn utnunt of the Nutr, shat) he adsled together, and the aggregate atnouot
<br />Ibtrenf shall be paid by the Atnrtgagor In the Aortgagee in a single payment to tit applied by the Mortgagee on acxnunl of the
<br />inJrhtednraa nl rhr Ffnrtgagor pursuant to the Nutt and thi+ Mortgage (tn eht extent that monies ut available from the
<br />amount so Jepositrd), in ttte order, any provision u( the Nutt to the rnntrary notwithstanding, as folloavs:
<br />FIRST, to the fate charges, if any, referred lu in the Note;
<br />ST;Ct3ND, to the amount of such ground rents, if any, fire and other hared inwanee premiums, tiara, assessments, .torte
<br />rates and nthrr g«rernmtnlal charges required to ht paid under the ptnviainn+ of this Mortgmge, in whattrer segneate tlsst
<br />Mortgagee may exJusirely determine;
<br />'iH1RD, to interrat due nn the Nntr, and
<br />_ _ pCyLIRTIf, t!u retnsittder, ice the p€incipal due on the Note.
<br />Arty dr(ititnry in rhr amount n( any such aggregate mnmhlY payment shall. unless paid by the Mortgagor prior to the dot date pf
<br />t!se nex! such deposit payable. constitute an event of default under this A{ortgage.
<br />(c} Any excess funds ifiat may ht accumulated by rtasnn of the deposits required under Paragraph >(a) hereof, remaining
<br />after payment of the amounts Jesrcihed in clauses (i), (ii) and (iii) thrrrof, shall ht credited to suh:equent respective monthly
<br />amounts of the same nature required to be paid thertun.ler. If any sorb amount shall exreeJ the estimate thtrefo6 the Mortgago:
<br />shall forthwith pay to rhr Mortgagee the amount u[ such deficiency upon written nntiro by the ]4fortgagre of the amount thereof.
<br />Failure to Jo so before the due date of such amount shall tit an cur, r of default under this Mortgage. If the mortgaged prop•
<br />- eery is sold under foreclosure or is othecwise acquired by the b[nrtgaget, after default by the Mortgagor, any remaining
<br />balance of the accumulations under Paragraph 7(a) hereof, shelf brrrtdited to the principal amount owing on the Note ^s of the
<br />date of commencement of foreclosure proceedings for the mortgaged property, nr as of the date the mortgaged pcoperty is
<br />otherwise so acquired. -
<br />g. The tmprovemeatY and all plans and specifications Ihectfor shall rnmply with all applicable municipal ordinances, regu•
<br />lotions, and rusts made nr promulRateJ by lawful cuthnrity, and upon their completion shall compiq therewith.
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