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satisfactory to tY~e N:~rtgagee, shall be delivered prom~t~y to ~he i~ort-
;-agee. The riort~agor will pay promptly when due, as hereinafter pro-
vided, any and all ~reniums on such insurance, and in every case in wY~icn
~ayment therzof is not mada from the deposits therefor required by tnis
;~:ortgaoe, pronntly submit to the Mortgagee for examination receipts or
;;ther evidence of such payment as shall be satisfactory to the Mortgagee.
~i:~e ::ortgagee may o4tain and pay the premium on (but sha~l be under no
~bligation ~o da so) every find of insurance.required hereby if the amount
~i such prem~un has not been deposited as required by this Mortgage, in
~..~hica e~~ent the ~iortgagor will pay tb the Mortgagee every premium so paid
~y the ?~:orlY~~ep. '
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(o) Ir, the even~ of loss or damage to the nortgaged~property,
~~,e tilcrtgagor :~rill give to the Mortgagee immediate notice thereof by
:::a~l, and tne :'Iortgagee ~ay ~?ake and file proof of loss if not made other-
wise promptly by or on behalf of the Mortgagor. Each insurance company
:ssuing any such policy is hereby authorized and directed to make payment
~hereunder for such loss to the Mortgagor and the Mortgagee jointly, un-
~ess the anount of loss is payable first to the holder of a lien under a
::ortgage or similar instrument to which ~his Mortgage is ex~ressly subject;
and the insurance proceeds or any part thereo~ if received by the Nortgagee
yay be applied by the Mortgagee, at its op~tion, either in reduction of the
~ndebtedness hereby secared, or to the restoration or repair of the mort-
~aged property damaged. In the event of forecl osure of this Mortgage, or
any transfer of title to the mortgaged property in extinguishment of
suc'n indeatedr~ess, all right, title and interest of the Mortgagor in and to
~very such insurance poiicy then in force, subject to the rigY~ts and inter-
csts of the holaer of an~r such prior lien, shall pass to the grantee ac-
;;a=ring titie~to the mortgaged praperty together with such policy and
~ a~propriate assignment of such right, title and interest wY~ich shall be
~ ' -
~.ade by tY:e ;~ortgagor.
3
~ 7. In order more fully to protect the security of this ~iortgage,
~ ~~:e irortgagor shall deposit with the Mortgagee together with, and ii~ addi-
~ ~~~n to, the payment of principal and interest monthly on account of the
:;~te secured :~ereby, until the Note is paid in full, an amount of money
:J:.ual to the total amount of (i) ground rents, i~ any, next becoming due,
~
t:~e premiu~s next beco~ing due on the policies of fire and all other
:~.~zarn insurance required by this Mortgage with respect to t'ne mortgaged
_,~~perty, (~ii) taxes, assessments, water rates and other governmental
~ ~:aroes next beco~ing due cn the aortgaged vraperty (all the foregoing
~ -.::.~unts as estimated by the Mortgagee and set forth in a written notice
a
~ sach est~mate oy the ifortgagee to the A:ortgagor from time to time),
~ ~_zss al~. a~ounts that may already have oeen paid therefor, divided by t'r,e
~ :.~;.~ber ca~endar months to elapse before one calendar month prior to the
~
~ ~~.~e whe, sucY: ground rents, premiums, taxes, assessments, water rates and
~a
~ _ ~:er governWer.tal cy:arges, respectively, wi1~1 become due and payab~ e. ~
~ ar,y a::o~r.~ referred to in clauses (i) through (iii) hereof is required ~
t
~ be de:os=ted by the Mortga~cr under a mortgage or similar instrument ~
~ ~.~:-~;ng ~ri:,rity over the lien of this ;~ortgage, the Mortgagor shall nake ~
depos~ts required bg tY~is Paragra~n 7 only in the event of the ter- ~
:.::a~~a:l of such obligatian under ~he prior mortgage or simi~ar ins~runent~~
c
~ ~:~.a :+:ortgagor shall give prompt n4tice in writing to the Mortgaaee of tt~e
rr - t ~ 1'aS ii u:entioned event . All such amounts so de ~ ..r
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