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Mortgago~ further covenants and agrees with Mortgagee as follows:
l. To pay all sums including interest secured hereby when due. as
provided or in said promissory note and any renewal. extension or modification
thereof and in this mortgage. al) such sums to be payable in lawful money of
the United States of America at Mortgagee's aforesaid principai office, or at
such other place as Mortgagee may designate in writing. _
2. To pay when due~ a~d without requiring any notice from Mortgagee.
all taxes. assessments of any type or nature and other charges levied or assessed
against the premises hereby encumbered and produce receipts therefor upon demand.
To immediately pay and discharge any claim~ lien or encumbrance against such
premises which may be or become superior to this rr~ortgage and to permit no default
or aelinquency on any other lien, encumbrance or charge against such premises. i
3. If required by Mortgagee~ to also make monthly deposits with Mortgagee. ~
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in a non-interest bearing account. together with and in addition to interest and i
p~incipal of a sum equal to one-twelfth of the yearly taxes and assessments which
may be levied against ti~e premises, and (if so required) one-twelfth of the yearly
premiums for insura~ce thereon.. The amount of such taxes. assessments and premiums.
when knowrn~ shall be estimated by N~ortgagee. Such deposits shall be used by Mort-
gagee to pay such taxes, assessments and pre:~iums when due. Any insufficiency of
such account to pay such charges when due shall be paid by Mortgagor to Martgagee ~
on der::and. If, by reason of any default by Mortgagor under any provision of this
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mortgage, Mortgagee declares all sums secured hereby to be due and payable. Mort-
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a gagee may then apply any funds in said account against the entire indebtedness
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~ secured nereby. Tne enforceability of tne covenants relating to taxes. assessmznts
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; and insurance premiums herein otherwise provi~~a shall not be affected except in so
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~ far as those obligations have been cnet by compliance with this paragraph. Mortgagee
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~ may from tine to time at its option waive~ and after such waiver reinstate. any or
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~ all pravisions n~reof requiring such oeposits, by notice to Mortgagor in writing.
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~ Wr.iie any such waiver is in effect Mortgagor shali pay taxes. assessments and
~ ins~rance premiums as herein elsewnere provided. !
- 4. To promptly pay all taxes and assessments assessed or levied under and
~ by virt~e of any state, federal. or r.wnicipal law or regulation hereafter passed ;
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