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Home My WebLink About2545~; R. 5~ rAEE 431 y~,. ~. If the \lortgagur defaults in an}'~~~th~ (,1~~En~ii.}~~t~agF~ShcFnts contained herein or in said Holt, then the \lurtgagre m :>' perform the same, and a such expenditures madt by the ~Iortgagec, including a reasonable attonuy s frt. in su doing ;:hall draw intrust at the raft of eight per crntum per annum and shall be upayable unmediately :utd without demand, and all such expenditures shall be secured by the lien cf this mortgage. I(l. "That no ~~•aiver of any covenant hrrcin or of the obligation secured hr.~ehy shalt at any tim- thereafter be held w be a traiver of :he trans hucuf or of the note secured hereby. 11. "hhat the mailing of a written notice or demand addressed to the owner of record of the mortgaged prrm+ses, ur directed to the said owner at the last address actually furnished to the Mortgagee, or directed to said owner at ,.,id mortgaged prennses, and mailed by the United States mails, shall be sufficient notice and demand in any case ansmg under this in.;rumcrt and required by the provisions herruf ur by law. I?. `l•hat in order nx,rr fully to protect the security of this mortgage, the Mortgagor,ltogrthhr11;jtlmtithlsaid note lion to the n+unthly pa)nrents under the tram of the note secured hereby, un the lint day of tar t count i+ tulle paid, .hall pay to the \lurtgagcc, an installntrnt of the t:+~t•. and acsessnu•nts nr~t to hrconte due ag:oast the nrort- gagrd prcnrises, :tad an inaallmrnt of prenuunts next ro hecun+r due on utsurancr {xtlicies reyurred by the ~lurtgal by Suite insrtilnu•nts steal( hr cyual rrsprrhvely to such taxes and as;cssntrnts and insurance prrmnum, all as csnmatct the \lurtgagrr, Ies all sum; aln:uly paid thrn•un, dicidrd ht the nunthrr of months that au to elapse before oar nun+th prior to the tlau• when wch taxes and asavnu•nts and insur:ux'e pn•miun+s will hecontr due. Said installnu•nts shall he held ht the \lu+tgagre, withuu; interest, to pay sitrh taxes :uul as.cssntrnts and insurance premiums. All payn+rnts n+adc under the term. of this paragrapl+ . n,1 under the Hutt securra hereh} :hall hr added together and the aggregate anu,unt thereof .hall hr {,aid h. the \lurtgagur in a single pa}rnrnt each month to he ap;+lied by the \lortgagee in pa}nu•nt of the !term and in the onlcr fullutving: (:,) "1•axes and assrs.nu•nt,, and insurance premiums; (h 1 Intert•st un the Hutt secured hereby : and • lr) Anu,rtir;+tior+ of the principal of said Hutt. r\n. dclii icni ~ in the :unuunt of sr+<h aggregate nuntthly payment shall constitute a default under this nu,rtga~c. ~1•hrr. curb trues, assessnrrnts :u+d incur;u+ca• prcmiunts fall due, if the amounts de{wsited by the ~lurtgagor for such put{uses are nut a+tlicirnt to pa. said texts. a~srssnu•nts and in•.nrance prcnuunu, as the r:ur net) he, then due, the '~lortgagnr will pap to thtt \Inrtgngrt• .uch dctiricncc innucdiatrlt. 1Vhcn .urh lases, asu•sstncr+ts and insurance prenuunu fall due, rf the :unnunts drpu.itc,1 he the \lortgagur for sorb purptst•s exceed the :unonnth due fur such taxes, assessnx•nis and insurance prrmiutns, the cxress nr:n, in the disrrrtinn of the ~l:,rtgagce, he applit•d un suhst•yuent monthly pa}nu•nth to hr made ht. the \lortga~,,,r. In rhr c~rnt of dcf:udt under this mnrtgagc am•unrxpcruled funds inthchandsnf thetlortgagt•edep:,artcd ;,t th,• \iu!t:tku! n, n!ret the uhligatiuns of Ltst•s, asrssnx•nts :u+d incur:u+cr prrnuun+s steal{ hr applied by the 1lurtgagrc ,!{xn+ the indehtc.lm•s. hen•h+ srrun•~1, in the tollutcing urdt.r: f a), Intert•st un ad~:utcrs made by the \lortgagec; (b), A,i- ~:u+ir: nr:rdr he the \lurtgap,ce: 1r). Intrrt•st un the {~nncrpal; and 1d) the p:n+rrpal dt•ht hereby secured. ~~'hrn any such taxt•s, :u.r..+m•nt. ur ins,uunrc pn•n+iunrs fall dut• the \lurtgagnr will prumptl} obtain and deliver to tht• ~lurtgagcc s;atr- nu•nts with ~espt•it thcn•tu. I ;. •l~hi. nu,r~y~.+kr .hall aLu serun• additional In;u+s hrn•after nr..dr ht the thee, holder of the note soured hereby to the then rnvncr ut the n•al r.t:ue do;rrihed herein, prop idcd the+t nu curl: additional loan ;hall be made if the making there- at would rau,r the tutrl prinri{•:d indchtednt•ss scrurrd h••!rht h, exceed the anu,unt of the nngu+al pnncrpai nniehted- ness stated hrrcin. Each sucl+ additional loan .hall hr c~ i,irnccd ht :e Hutt ,,r other evidence of indeh*.ednt•ss identifying such additional loan as part of the indchtrdnt~; .crured hereby, and shall mature not later than the then matunt)• date of the original indchtc,hrta >ecured hereby. \o•hing herein containrd shall in+pl}• :un obligation on the part of :nty holder of .aid Hatt to n+ake :c+t sorb additional loan. ltt. i:ort.~~a.or :. •reby ::,sirens to sort-a~ee an:~ end 311 at~ords or uar.~ages, actual <^nd consequential, `_~or the takin~• of any portion or all of the mart aged nremi:_es, by :i:e e;:erci~e of ~i!c• ri ht of eminent domain or cond~mnat.ion, incluc_n but not limited to daT:a;es or -wards nor cha,.n ;es to ; i-.? rades of ~txeets, or acc,uirin ; title to s~reet:~. 'ile ,proceeds of .etch a•,•:~:r~s or d_c~:aE;es, t•:hen rec~.ived by ifort~;s);ee, shall be a! died ~n reduction of the mar ~~;:t ;e indeb~edne ~s.