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15. 'ff a couveyance ahould be sade by the tiartgagor of the pre~uisea harein desc-
ribed, or aar part Lhereof, without the vritten consent of SMA . and without
asauaptioA io regular'foss of law by the grantee of the obligation to SMA
created by said prowiasory Aote and thia Mortgage, then. and in that avent,
au~d at th~ option of SMA, and vitlwut aoti.ce, all su~s of uoney secured
hereby shall ia~ediately and copcurrently vith auch conveqance beco~e due and
payable aM in default. SMA ~ay charge a reasonable fee for its serv3ces
in causing a transfer in oanership to be reflected !n its books. "
lb. That whenever in the sold diecretioa and ~udgment of SMA it shall be for the
best interest of SMA to require additional aecurity from the Mo;tgagor, and
in order more fully to protect the security of this tbrtgage SMA shall find
it neceasary so to do, then at the option of Si-~A and commencing vith the
first ~onthly payment date after SMA ahnll have exercised its option hereut?der,
the folloWing terms, covenants aM conditions shall became in fu22 force and
effect in addition to all of the other terms, covenante and conditione herein
set forth:
That the Mortgagor Will together vith, and in addition to, the monthly payment
under the terme of the note secured hereby on the first day of each month until
the said note is fullq paid, will pay to SMA the folloving sums:
(a) A simm equal to the ground rente, if aay, next due, plus the premiums that
will next become due and payable for mortgage insurance and on policiea of
fire and other hazard insurance covering the mortgaged property, plue taxea
and aseeeements next due on the mortgaged property (all ae estimated by SMA)
less all sums already paid therefor divided by the number of monthe to elapee
before one month prior to the date when such ground rents, ~remiume, taxes, and
aeeessments will become das , auch sums to be held by SMA in trust to pay
said ground renta, premiums, taxes, and apecial asseasmenta.
(b) The aggregate of the amounts payable purauant to subparagraph (a) and those
payab2e oa the note secured hereby, et~all be paid in a aingle payment each menth,
to be applied to the folloving items in the order stated:
(I) ground renta, taxea, asaeasments, fire, and other hazard insurance premi~ea,
mortgage insurance premium;
(II)interest on the note secured hereby; and
(III)amortization of the principal of said note.
Any deficiency in the amount of such aggregate monthly paymeat shall, ualess
made good by the Mortgagor prior to the due date of the next such payment,
constitute an etient of default under this Mortgage.
If the total of the payments made by the lbrtgagor u~er (a) hereof shall
exceed the amount of payments actually nade by SMA, for ground renta, taxes,
and assessments, and insurance premiums, as the case may be, such excess shall
be credited on subsequent payments to be made by the Nortgxgor for suc~ items.
, If, however, such monthly payments shall not be sufficient to pay seich items
when the same shall become due and payab2e, then the I~brtgagor shall paq to
SMA any amount necessary to make up the deficieacy. Su~h payment shall be made
within fifteen (15) days after written notice fram SMA stating the aaount of the
deficiency, which notice may be given bq mail. If at any time the Mortgagor ehall
tender to g~ in accordance with the provisions of the note secured hereby, full
payment of the entire indebtedness repreeented thereby, gtyp~. shall, in cosputing
the amount of such indebtedness, credit to the accouat of the Mortgagor any credit
balance re~aining under the provisions of (a) hereof. If there shall be a default
under any of the provisions of this Mortgage resulting in a public sale of the
premises covered hereby, or if glyA acquires the property othervise after default,
g~ shall applq, at the time of the co~enement of such proceedings or at the ~
time the property is otherwise acquired, the amount then remainiag to credit of
Mortgagor under (a) hereof as a credit on the interest accrued and unpaid and the
ba2ance to the principal then re~osining unpa3d on said note. •
17. That if any action, or proceeding, shsll be conaeneed by any person other than
the holder of this Nortgage (e~ccept an action to foreclose this tlortgage, or to
collect the debt secured thereby) to vhich action, or proceeding, the holder af
this Mortgage is made a party, or in which it ehall become necesearq to defend,
or uphold, the lien of this tbrtgage, all suss paid by the holder of this Nort-
gage for the aocpenae of any litigation (including reaaonsble counsel fees), shall
be paid by the liortgagor, together with intereat thereon, at the rate of six (6x)
percent, per annum, and anq such sum, and the lnterest thereon, shall be a claia~
the repaysent of vhich is secured by this ~ortgage and bq the note that it
secures. In any action or procealing to foreclose this Iiortgage, or to recover,
or collect the debt eecured therebq, the proviaions of lav reapecting the
recovery of coets, disbursements and allovances sha11 prevail, unaffected by this
covenant.
. a ec~2~4 o,~fj544
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