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15. ~f a comreyaace ehould be sade by the Itortgagor of the premises herein desc-
ribed, or anr part thereof, vithout the written consent of SMA , and vithout
asaunption in ragular fors of law by the grantee of the obligation to SMA
created by said proaiseory note and this Mortgage, then, and in that event~
a~ at the option of SMA, and vithout noti.ce, all sume of money aecured
hereby ahall imediately and co~currently vith such conveyance become due and
payable and in default. SMA may charge a reasonable fee for its services
in cauaing a transfer in ownership to be reflected in its books.
16. That whenever in the sold discretion and ~udgment of SMA it ehall be for the
best interest of SMA to require additional security from the Mortgagor, and
in order more fully to protect the security of this Mortgage SMA shall find
it necessary ao to do, then at the option of S;~iA and con~oencing with the
flrst monthly payment date after SMA ahell have exercised its option hereunder,
the following tenus, covenants and conditions shall become in full force and
effect in addition to all of the other terms, covenants and conditions herein
set forth:
That the Mortgagor will together with, and in addition to, the monthly payment
under the terms of the note secured hereby on the first day of each month until
the said note is fully paid, Wiii pay co S~'9p? the folloving sums:
(a) A s~m equal to the ground renta, if any, next due, plus the premiums that
will next becoa~e due and payable for mortgage inaurance and on policiea of
fire and other hazard insurance covering the mortgaged property, plua taxes
and asseeementa next due on the mortgaged property (all ae estimated by SMA)
lees all auma already paid therefor divided by the number of montha to elapae
before one month prior to the date when auch ground renta. premiuma, taxes, and
aeeesaments will become due , auch aume to be held by SMA in trust to pay
said ground rents, premiums, taxes, and apecial assesamenta.
(b) The aggregate of the amounta payable purauant to subparagraph (aj and thoae
payable on the note aecured hereby, ahall be paid in a single payment each month,
to be applied to the following itewe in the order atated:
(I) ground rente, taxee, aeeeesments, fire, and other hazard insurance premiums,
mortgage ineurance premiwn;
(II)interest on the note aecured hereby; and
(III)amortization of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall~ unless
made good by the Mortgagor prior to the due date of the next such payment,
constitute an e~ent of default under this I~iortgage.
If the total o£ the payments made by the Mortgagor under (a) hereof shall
exceed the amount of payments actually made by SMA, for ground renta, ta~ces,
and assessments, and insurance premiums, as the case may be, such excess shall
' be credited on subsequent payments to be made by the I~iortgagor for such items.
, If, however, such nwnthly payments shall not be sufficient to pay such items
i vhen the same shall become due and payable, ttien the Mortgagor shall pay to
~ SMA any amount necessary to make up the deficiency. Such payment shall be made
~ withfn fift~er. (~S) days aftez vrittcn ^.otice €rem S!~i11 statiag the amount af the
; deficiency, which Aotice may be given by mail. If at any time the Mortgagar sha12
tender to g~p in accordance vith the provisions of the note secured hereby, full
payment of the entire indebtedness represented thereby, g~ shall, in computing
the amount of such indebtedness, credit to the~account of the Mortgagor any credit
balance remaining under the provisions of (a) hereof. If there shall be a default
under any of the provisions of this I~lortgage resulting in a public sale of the
pre~ises covered hereby, or if SMA acquirea the property otherwise after default,
g~ shall apply, at the time of the co~nencement of such proceedings or at the
time the property is otherwise acquired, the amount then remaining to credit af
Mortgagor under (a) hereof as a credit on the interest accrued and unpaid and the
balance to the principal then re~naining unpaid on said note. •
17. That if any action, or proceeding, shall be comneneed by any person other than
the holder of thia Mortgage (except an action to foreclose this Hortgage. or to
collect the debt secured thereby) to which action, or proceeding, the holder of
this Mortgage is made a partq, or in which it shall become necessary to defend,
or uphold, the lien of this Hortgage, all sums paid by the holder of this Mort-
~ gage for the rxpense of any litigation (including reasonable counsel fees), shall
~ be paid by the Mortgagor, together with interest thereon, at the rate of aix (6X)
~ percent~ per annum, and any such sum, and the intereat thereon, shall be a claim
the repayment of vhich ia aecured bq this mortgage snd by the note thst it
secures. In any action or proceeding to forecloae thie Idortgage. or to recover,
or collect the debt eecured therebq, the provisions of law reapecting the
recovery of coets, disbuss ments and allovances shall prevail, unaffected by this
~ covenant.
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