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Home My WebLink About1508 ct the Most~a~ee becoms 1m~?edlateb? due ~ad payaWe. witAout noUce. and proceedia~s my? be lastltuted by tt~ ldort- ~e~ for tbe reco~veiT thereat by tot~eclaaure oi t!?Is D[octsa`e. ot in aq~r other aaanner persdtted b7 Lw a~ tbe Moct- si~!!t~ay 4kCl. ~ 1R V!! AOL! GR' W t11b MOI~! OOAWRld LO ~10 OOII~itf7 Ulll'!LO IIO~wl~tj. vpoa tOI'!• claatre ot this Moetsa~e~ tlr Nott~a~e~ sliall be allowcd as a part ~ the lndebtednen secured l~es~b7. aad t!~ Mort- t~i s~ tax searcrh aad iM extenst~da~ot~in ab~tract of dtl~e o~r UW poliq ~re~sonatde ~ en~ D~ la~s are secuea eerore tee ooooummanon cnereoc or the encq? ot iudg~a~ w wm ooata ana e~en.e. .ad oWes charBe: so lncurred. lncludtns a reasauble attornay's tea sh~ll neverthelas be paid. 9'be Mo~a~ee or W WrV 1n fn- . t~res~ befat the hisAed bldder. may be a P~+~r +~t aq~? foreclcau~e s~le. My ekMlon by tb~ Mort~a`e~ ~s Aerel~? pro- ~ vided tor mq? be exerclsM lmmedtatel~ aPon deLulf. or at any tlme thereatter. aad aoWn~ shW be oon~drued to be a 4 wdver oi such dHht unless e~~d by ~n fnstrument In wrlW~g to tbat effect dulY ezecuted by tba Morta~ee. The ~ Mortsa~or wdvas all rl~ht at Doznestaid ~nd exemptioa ptiated pr tlie Conatitutlon and Lws ot ~7osMa. ~ AND TAE MORI~GAGOR FURTHER CONVSNAN'13 AND AGREFS: ? 1. To p~y tbe prtndpal Indebte3neas wiU? Intered as !a the nota Provided. Zb p~y moaWb unW tbe Mortgagee. ~ fa abdiUaa to aad at tAe time and place for escD payment ot PsindWl and intered. an installment at each o[ the follow- ~ ~ (u 1luces and a~e~t+. teueral or spedal. ~nd all oWer cbarges levied or to be levled ajain=t the premise~. ~ (b> Premiums to becoa~e due snd pe~yable ior. and to reae~w. the insurance on tde premtfes agatast loss by Me and ~ ach other harardt. caswlties and coatia~endes as herela provided for or required Lrom Ume to tltne. 1 The amount oi the respectlve moatNy? lnstallmenb shW be equal to the amount o! the annwl nspectlve clurge next ~ due (ss estlmatcd by the Mortg+~ee). leu all lastaWnents alreadY Paid theretor. divlded by tbe number at monthly? in- ~ staWnents tL,erefor becom(n~ due aot Lter tAan oae month prbr to the due date ot any such charge and sbW be sub- ~ect to Increase or decrease to the eztent rMulred to create as of a montNy payment date oa the note not leas than one ~ month prior to We due date oi any wch char8e. an amount suHictent for the pe~yment tRercot when due and payable. ~ Ia no eveat shall the Mortgagee recelving wch paYment be liable for aay fnterest on any uaount pnW to it as hetpin requtird. nnd the money ao recetved mqY be 1~eld With 1ts awn funds pendin8 paY~pt or appUcaUon thereot as herein s proW~ed, The Mortgegur sMll furnish nnto the Mortgagee at leait niteen de~yrs before the due date aa of8cial statement ~ oi the anwunt ot any taxes or asse~cnents next due. and such Mortgagee shall p~y the abo~e charges to the aawunt ot the then uau~l credit therefor as aad when they become aeverallY due and payable. Tde Mort8a8~ ~1Y. at its option. 1 peRy aqy oi such charBes when psyable. either before or atter they ara tleliaquent, vNthout nottce. or make advances i therefor ln eacess ot the then amount oi credit i~r safd char8ea. TAe e:cess amount sdvanced :Mll be lrmnedtately due and payable to the Mortgpgee and sha11 be sec~red as at? a8dltional prindpal sum under thts instrument and bear the same ~ rate oi interest irom date oi advancement as :he principal indebtedness. An oIIictal recefpt theretor shall be conclua[ve eWdence of such payment and of the validtty oi such charges- The Mortgsgee me~? apply credib held by it for tt~e above i chuges, or any part thereof. on eccount o! aay delinquent lnstaliments oi prindpal or Interest or any other pa,yinents ; matwing or due under tdls lastrument and the amount oi credtt exisW~g at anY time shall be reduced by the amount thereof psW or applled as herein provlded. The amount oi the existing credit herewider at the time ot eny tranater oi the Propert3? shall aritdout assi8nment thereoi inure to the bene8i oi the succesaor owner o! the PropertY end ahall be ePPlled under and suDject to all oi the pmvlstons hereof. Upoa tl~e psyment In full oi the indebtedn~s. the amount of any anused credit shall be applied to tt~e paymment thereof. The Mortgagee ma,y collect a'7ate charge" not to exceed tour cents (4c) tor each one dollar <:1.00) ot each monthly installment psyment required w? the note and under thia Mortgage which Is more then 8[teen (15) days in arreais. to cover the extn expense involved in handllng delinquent payments. - 2 To pay. when psyable. sll taxes and assessments. general or special. water rents and ground rents and all other ~ charges whetacever levied upon or aasessed or placed a8ainst the premisea. pmvialoa for which has not been made here- ~ inbeiore. and wW pmmptly deDver the offictal receipta ttierefor ta the Mortgagee; to 1lkewise pay all taxea. assessments and oth.er charges. levied upon or as9essed. placed or made againat thfs instru~hen~ or the [adebtednena or any interest oi r the Mortgagee in the premisea or the obligations aecured hereby. provtded that the psyment oi any such tas assess- . ment or cLarge by the Mortgagor is not rnntrary to law or would not result in the psyment ot an ualawful rate o! ittter- est on the lndebtedness hereby secured. In the e~•ent oi the passage aiter the date of this inttntment oi any law of the State. or subdivWon thereof. wherein the premises are situated, creating or providtng for any tauc, as~es9nent or charge ~ vvhtch by the above proviao fa aot to be paid by the Mortgagor. the fndebtedness secured hereby together wlth fnterest due thenon. shall. at the opUoa oi the Mortgagee. become immedl~tely due aad payable. and tn ttie event pa~yment there- of b not made forthwitL, the Mortgagee may take or cause to be taken such actton or proceeding as may be taken here- ' unaer in the case oi any other default in the payment oi the indebcedness. j 3. To keep the bulldings and additions thereto on or hereaiter erected or placed apon the land ir~aured against loss ~ bq fire and such other ha:ards. c~sualt[es and contingeaclea. Including war dainages if at an,y time a state o! war exicts or it appean to the holder ot the note that war is imminea~ and ia wch amounts and for such perbds. as may be required irom time to time by the Mortgagee. and to pay promptly whes~ due sll premiums on such insurance. providon tor pay- ment oi wWch has not beea made hereinbefore. The polides of lnsurance shall have loas payable provWons acceptable to the Mortgagee and shall be del[vered to and held by the Mortgagee. or as ft may dlrect, unt11 this Mortgage is satisBed. Renewal pollcies oi inaurance. Premiums for which have been ful1Y Paid. are to be furniahed to the Mortgagee at least ~iteen dsys Prbr W the ezpiration date of the insurance thereby renewed. The lnsurauoe shsll be written in companles approved by the Mortgagee; In no event shall tl?e Mortgagee be heW responaiWe for fallure to pay for any insurance vvritten or for any loss or damage growing out of a defect in any poHcy or growing out ot any fatlure of at~y insurance oompany to pay for any loss or damage insured againat. In Ne event ot la~s the Mortgagor shall give innmediate notice by mail to the Mortgagee who may make proof oi loas if not made prompUy by tlie Mortgagor; each insurance oompany conceraed is. hereby authorfxed and directed to make payment for loss d[rectly to the Mortgagee instead o! to the Mort- gagor and the Mortgagee jointly; the insurance proceeds. or any part thereof. maY be-aPPlled by the Mortgagee. at its option. to the expenses. It anq. iacurnd by [t In the collection thereof. to the reduction of the indebtedneas hereby ae- cured, to the restoratlon or repalr ot the praperty damaged, or released to the Mortgagor without liabWty upon the Mort- gagee tor such release. All polldes ot insurance are hereby assigned to the Mortgagee bs additional secudty for We pqy- ment oi the sums end interest secured hereby; fn the event o[ forecloaure of thb Mortgage or other trans[er of tltla to the ' premises fn extingul:hment oi the indebtedness. ari rlgh~ tltle aad interest of the Mortgagor !n and W any lnsurance poHdes then in force shall peas to the purchaser or grsntee. 4. To complete adthiu a reafonable Ume any bullding or buildings now or at any tlme W the prooess of erection upon ~ tLe land and to promPtly repair, restore or rebaiW any bullding or improvements now or hereafter ~ the Lad whlcb ~ m~y become dam~cd or be datro~red, and not eomidt ar pesadt to be done or exist an or abaut the premises anything whereby the premises shall become less valuable; W compl,y with all laws. rules„ regulaUons, or ordinanoes oi a~r gavera- mental sBen~Y ard not Wolate or permit the vtolatlon as to U~e preml~es of any bullding or use restdctlons: to keep the land and improvements thereon icee irom mechar?ic's and mstertslmen's Uens and wW not suffer a~? Hen superbr to the 14n crPated Dy this fnstrume~t W attach to or be enforced a8alnst the pr~misa. ' S. It delault be mede in the payment ot texes, a~nents, llens, clatms, insurance premiums or any other charge wbatsoever, or aqy part tha+eof. or in the pertormance of any ut~ to be pafd or pertormed by the l[ort~a~or ~wder tbe pe+ovWoas hereot, the Mortgagee may. at its option, make p~yment therrof or pertorm any act reqWred o[ the Mortga~or in any form or manner detmM eupedient aad pqy aiqr otAer sum Lhat ls neaessary to protect tbe secudty ot Uils instnt- ment: tLe amounb so patd, w1W fnterest thereon ~om t2~e dnte of such p~rment at the ~ame nte as borne by tLe prin- _ clp~l Indebtednes~ sbsll be as~ea~ed as an sdditiaul lien on the premises and shall be ~dded to and beoome a part oi the iodebtednw ~ecured hereby and be lmaxdiately due and payable to the Mortga~ee. Any pqyment bereby autbori~ed to be made by tLe Mortga~ee aoq be msde aeoordin8 to aiq? bd11. statement or esti~au furni~.d os procund !mm t6e appro- P~k Pudic o~ioe ae tbe P~Y ~B MY~~t withont lnquir~? into the aocuracy or vWditp thereo~ aad t6e reoeipt of ~4 D~11c omoer or partr in tLe baads ~ the Maetga~ee sbW be conclusive evidenoe ot tLe valldlq~ and amoant ot ltear w Paid: tAe Mott~~ee sha11. Rt tts optlon. be subro~ated to anr ~cumbrance. 1ten. elafm ae dea~and, and W all thr ri~?b and ~ecudtks fac tbe payme~t thereof. p~id or d1s~Larged with the prlnclpal sum ~ecured hereby oe bp tbs ~iertpjee ~mder tt?e pro~Mlom Aereof. aad any such sub:+osatlon sishL sball be a~ditloaal and cumulative aecurit~ to tbis Mort- ' pt'- s b~K 169 PA~ 1496 { ~ k