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Home My WebLink About1496 ~,R: b j ~ ~ 59 I!St 83 9, If the ?\Iortgagor defaults in any of. A~ F'ien,~~s -orLJ_~D\CflllP contained herein or in said note, then the ~fortgaRee may perform the same, and all suctt,~\~f~~..lri~~~'b.Y'theMortpgee, including a rusonable attorney's fee, in so doing shall elraw interest at the rate of eiKht ~r ttntum per annum and shall be rep!lyable immediately and without demand, and all such expenditures shall be secured by ~he lien of this mortga~, 10. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be hrlll to be a waiver of the terms hereof or of the note secured hereby. ' 11. That the mailing of a written notice or demand addressed to the owner of record of the mortgilged premises. or direded to the said owner at the last address actually furnished to the Mortgagee, or directed to said owner at S3id mortgaged premiv-s, and mailed by the United States mails, shall be sufficient notice and demand in al",' case arising IlIhler this in-arnment and required by the provisions hereof or by law, 12. That in order more fully to protect the security of this mortgage, the ~tortgagor, together with and in addi- , tion to the monthly payments under the terms of the note secured hereby. on th~ first day of each month and until said note i, fully paid. shall pay to the ~Iortgagee, an installment of the tAxes anti ...",b.>it1Cnt5 n~xt to breomr due against the mJrt- gagell premises. and an installment of premiums next to become due on insurance policies required by the ~fortgagee. Such installments shall be t'qual respectivdy to such taxes and assessmmts and insurance premiums, all as estimated by the :\lorll::agee, Ir-ss all sums already paid thereon, divided bv the number of mO!'!ths that are to elapse before one month prinr tu the date when such taxes and assessments and insurance premiums will become due. Said installments shall be held b, the \lortgagee, without interr-st, to pay such taxes and assessments and insurance premiums. All payments made under the terms of this paragraph and under the note secured hereby shall be added together and the agRregate amount thert'of shal\ be paid by the :\Iortgagor in a single payment each month to be applit'd by thE \fortgagee in payment of the items an,1 in the order following: (a) Taxes and as.st'Ssments, and insurance premiums; (b) I ntert'St on the note secured hereby; and ( c) Amortization of the principal of said note. Any drficit'llCY in the amount of such a~gregatt' monthly payment shall constitute a default under this mortj?;age. \Vhen sllch taxl"S. asst'SSlIlt'nts and insuranCl" premiums fall due. if the amounts deposit('d by the ~1url~agor for such purposes are not slltlicieilt to pa\' said taxt'S. assessments and insurance prtmiull1s. as the case may be, then dut'. the :\Iortgaj?;or will pay t(; thr \lortj?;ag('e .such deficiency imlllediately. \Vht'n such taxes, aSS('ssments and insurance premiums fall due. if the allluunts depo,ite,1 by the :\lortgagor for such purposes t'xct',.d the amounts due for such taxes. assessments and insurance prrmiullls, tht' ncess may. in thl" lliscretion of the \Iortgagee, be applied on subsequent monthly payments to bl" made by tilt' \lortgagor. In the t'wnt of default under this mortgage any unexpended funds in the hands of the :\Iortj?;aj?;t't' deposited h the \Iortgagor to lIl('t't the obligations of taxes. ass(,sslI1ents anri insurance prellliulIls ~hall be applied b\' thr :\Iortj?;agl'l" IIpon the ind('otedness ht'Teby secured. in the foIlo,\'ir;g order: (a), Intert'St on advances madt' by the ~fortj?;agee; (b). Ad- \' 1\<"<" 111;1<1(' h\' tht' \fortgagee; (c), Interest on thE' principal; and (.1) th... principal debt hereby secured. \Vh('n an\' such t:t:>:tS, "~S(,S'lIl("nts or insu.rance premiums fall .\ue the ~Iortgago.- will promptly obtain and deliver to the ~fortgagee state- mrnts with Tt,<;p-r,.t thereto. H. ThiS lIlortgagt' shall also secure additional loans h,.rt'after made by the th:-n holrler of tht' nott' seCllred hrreby to th.. thm ownrr or the real est'lte dt'Scribt'd herein, provided that no such additional loan shall he made if the making tht're- of wOllld callst' the total principal indebtedness secured horeb\' to exceed the amount of the original principal indebtrd- nr~s statt'd hert'in. Each s~lCh additional loan shall be t'\'idenced by a /lote or otht'T e\'idenct' of indebtednt'ss identi fyinj?; s\Jl'h a,t.litional loan as part of the irH\ebtedlll'ss securt'd hneby. and sha\l matllrt' not later than the then maturity date oi lhe original indebtedness secured her('by, :-.Io-hing herein contained shall imply any oblij?;ation on the part of any holder of sai,1 note to make any such additional loan. 14. Hortge.gor hereby assigns to Hortgugee any and all awards or da..-w.gen, o.ctu.:~l and consequential, for the taking of any portion or all of the mort~_ced :;)reoises, by the exercise of the riGht of cmnent domqin or condemnn.tion, including but not lini ted to d~Ges or awards for chnnges to the grades of streets, or acquiring title t~ streets, Th~ :;)~~cceds of such mw.rds or damages, when received by l~ortGagee, shall be o.pplicd in reQUC~lOn of the oortgub~ indebtedness. .. ~.~ .~ . __ ...... 0-.. . . - J