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,~0-- ~~~;~ ~. ~ St31899
<br />,.ny sad all outt¢nding contnxcta far the erection sad completion of said Auitdiags, to rrt¢Ice and toter into say r~ntncexsand
<br />obligations wherever aeceasary•, either itx-hi:Jher own name ar in tht name of the Mortgagor, artd to pay and discharge all debt, -
<br />obligvtiona, and 1mbilitiea incurred thereby. A!1 rrsch s¢ms sv adv¢rseed by the Mortgagee (ezrttuiae of adDancea-of tht prineip¢t
<br />of the indebtedneo recured hereby} rh¢ll be added to the prittcipot of the indtbteslness sectued hereby and shalt brsecured by
<br />this Moregoge and shat! be due and parable an demand with interest at thv, rete specified in-the note. Toe principal sum and
<br />other charges protrided for herein shall, nt the option of the Mrntgagee ru halder of Chia Mortgage and the Hate aecur(ag.the mine,
<br />become drat and payable on the failure of the Afortgagur to kelp and perform say of the covettant, conditions, and agreetaaant
<br />of said budding foam agreement. This covenant shall be terminated upon completion of the impraceattnt to the.aatirfaction of
<br />the Mortgagee and the ranking of the firwl adrence as provided in said building loan agreement; - -
<br />17. That, together with, and irs addition to, the payments of interest or of principal and interest payable yonder thrterrna
<br />of the note recured herebythe rNorigagor,wit7 pay to the Mortgagee on each payment date hereof, tantilthesaid~nate-ia Jutty.paid-
<br />the following:umr: -
<br />(a} .4 :um equal to the ground yenta, if any, and the razes and rpeciat wreurnent nest due on the premiuea
<br />covered by Chia :tfortgrrgc, plw the premiums that will Wert become due artd payable on policies of fiie~and-
<br />other property iruunrrce covering the premises covered hereby, plw water rates, tazet;aad•aaaesarnent-rtezt'
<br />due on the prerrsiser covered hereby (atI as estimated by tAe Mortgagee) kn all sumt aA-eady paid i6trtjor
<br />divided by the number of months to ebpae before one (1} month prior to; the daft when-sttch-ground rent,
<br />premiums, water rotes, tares artd asseument writ become delinquent, such srarns-ta beheld by Mortgagee to-
<br />pay said ground rent, premiums, tinter r¢tea, fazes artd specral waeasmentr.
<br />(b) At(payment mentioned in the preceding aubaection of this paragraph and alt payment to.be mttde. under the
<br />note secured hereby rho// be added together and the aggreg¢te amount thereof ahaH be paid-tack naortth-in ¢
<br />aingte payment to 6e applied 6y Mortgagee to the following items in the ordenset forth:
<br />(I} ground rent, fazes, special asrearment, water rater, fire artd other property insurance
<br />premiums;
<br />QI} interest un the rzote secured hereby;
<br />(111} amortization of the principal of said note.
<br />lt3. Any excess funds accumulated under (a} of the preceding paragraph remaining-after payment pf the item.; therein
<br />mentiorad ah¢ll be credited to subsequent monthly payment of the same nature required thereunder, but if any such item shall
<br />exceed the estimate therefor the .M1lortgagor shat! without demand forthwith moke good the deficiency. Failure to do ao before
<br />the due dote of ouch item shall be a default thereunder. IJ the property is sold under Joredoaure or is otherwise acquired by the
<br />Mortgagee after default, any remaining balance of the accumulatiow under (a} of the preceding paragraph shall be credited to
<br />the principal of the bfor€gage as of the date of commencemenr of foreclosure proceeatnga or as of rye care trse property is „thee
<br />woe acquired; and
<br />!9. That the Mortgagee shall have the right to irupect the mortgaged premises at rsny rewonable time.
<br />20. That ao long as :ht `4ortgage and .Note recwed hereby are outtanding, it wilt not (a} rent dwelling aecommoora ono
<br />in the mortgaged premises in esceaa of the rates approved by the Mortgagee or for periods of leas than one month or in axceas of
<br />thrtt ;.mr . (b} rant the r emists ¢:.,r. e,-. rcty; (c} rent tAe p,^tmises ar oat r:¢rt ikereaf to any f~raon for the pw-pate o -..,.-
<br />lowing; (dJ rent the prunisea or pernut its we for hotel or trrsnrlertt purposes; (e} require oFan_y truant as a condition ~,( ,
<br />occupancy life-tense contract, Jeer or other payment over and above those for rents, utilities, artd collateral services.
<br />2l. (N T1lF. EVENT of default in moking any monthly payment provided for herein or in the note secured hereby for
<br />o period of thvty (3Ja} days after the due date thereof, or in case of a breach of any other couemnt herein stipulated, then the
<br />whole of said principal rum remaining unpaid together with recrued interest thereon, shat!, at the election of the .Mortgagee,
<br />without notice, become immediately due and payable, in which event the >tifortgagee aMi/ hove the right immediately to forcctose
<br />this M1lortgage;
<br />23. AND IN CASE OF FORECLOSURE of fhb :Mortgage by said hlorfg¢gee in an_y court of law or equity, a reaaonoble
<br />sum shall be allowed for the aolicitor'a fees rf the complainant, not to exceed in any ewe five pen eeattum (SmJ of the amount of the
<br />principal indebtedneu found to &e due, sad the stenographer's fees of the eamplainant in ouch proceeding, and coat of minutes ref
<br />foredoswe, rooster i fees, and a!! other cart of suit, and oho for o!1 outlay for documentary evidence and the coat oJa complete
<br />abatracJ of title for the purpose of ruck foredosure; and in cane of any other suit, or legal proceeding, tnatituted by the Mortgugzc
<br />to enforce the provuiona of thu hlortg¢ge ur in case of any suit or legal proceeding wherein the ;Mortgagee shall ire nwde ¢ party
<br />thereto by reason of thu Mortgage, it cost and expenrea, and the reasonable fees and charges of the attorneys or solicitorr of tF.e
<br />Mortgagee, so mode p¢rties, for services in ouch ruts or proceedings, shall be further lien and charge upon said premises under this
<br />Mortgage, and alt ouch expenses shall become ao much additiom! indebtedness aecared hereby and be allowed in any decree fore-
<br />ctoring thu dortgage;
<br />23. AND TIIERF. 511.4LL BE INCLUDED in cnY decrrr forclosing this dlurtgagu and be paid nut of the procreda of any
<br />axle made in pursuance of any ouch decree: (1) All tAe coat of ouch suit ur runt, aduertiaing, sale, and ronucyance, including
<br />attorney t, aoltcitora ;and stenographers' fees, outlays for documentary evidence and cost of said aba tract and examination of
<br />title; (l) AU the ntoneya advanced by the 6ortgagee, if any, for any purpaae authorized in the mortgage, with interest on such
<br />adtxincu at th¢ rate specified in the note, from the time ouch odaancea ore made; (3) AU the accrued interest remaining nnpatd on the
<br />indebtednesr hereby secured; (4) All the card prinefpa! money remaining unpaid The Doer-plw of the proceedr of ante, i(nn y, shalt
<br />then be paid w tAe court may derect; -
<br />FtaA tOr}NLH Jru IliT6
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<br />Pyre a of a Dytea
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