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15. ~f a conveyance ehould be sade by the 14ortgagor of the premises herein desc-
ribed, or any part thereof, vithout the ~rritten consert of SMA , and vlthout
assumption in ragular fors of laW by the grantee of the obligation to SMA
created by said prosiasory note and this liortgage, then, and in that event,
and at the optioa of SMA~ and vithout notice, all sums of money secured
hereby aha12 imsediately acd cot~currently Wlth such conveyance become due and
payable and in default. SMA may charge e reasonable fee for its services
in causing a transfer in aWnership to be reflected in its books.
16. That whenever in the sold discretion at~d judgment of SMA it shall be for the
best intereat of SMA to require additional aecurity from the Mortgagor, and
in order more fully to protect the aecurity of this Mortgage SMA shaZl find
it neceasary so to do, then at the option of S'-1A and consoencing wiih the
first sonthly payment date after SMA shall have exercised its option hereunder,
the fol2owing terms, covenants and conditione shall become in full force_and
effect in addition to all of the other terms, covenants and conditions herein
set forth:
That the Mortgagor vill 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, will pay to SMA the following sums:
(a) A ewn equal to the ground renta, if eny, next duc, plue the premi~ms that
will next beco~e due end payable for mortgage inaurance and on policies of
fire and other hazard insurance covering the mortgaged property, plua taxes
and assesaments next due on the mortgaged property (all se eatimated by SMA)
leea all aums already paid therefor divided by the number of months to elapse
before one month prior to the date when such ground rente, premiums, taxes, and
aeseeaments will become dua , such sume to be held by SMA in trust to pay
said ground reata, premi~s, taxes, and epecial aeaessments.
(b) The aggregate of the amounte payable purauant to subparagraph (a) and thoae
payable on the note secured hereby, shall be paid in a aingle payment each month,
, to be applied to the folloWing iteme in the order stated:
(I) ground rente, taxes, aseesements, fire, and ather hazard insurance premiums,
~ martgage ineurance premium;
(II)intereat on the note eecured hereby; and
(III)amortization of the principal of said note. ~
Any deficiency in the amount of auch 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 Mortgage.
If the total of the payments made by the Mortgagor under (a) hereof sha12
exceed the amount of payments actua2ly made by SMA, for grourd rents, taxes,
and assessments, and insurance premiums, as the case may be, such excess shall
be credited_on subsequent payments to be made by the Mortgagor for such items.
. If, however, such monthly payments shall not be sufficient to pay such itesns
when 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
vithin fifteen (15) days after written notice from SMA stating the amount of the
deficiency, which notice may be given by mail. If at any time the Mortgagor sha22
tender to g~ in accordance with the provisions of the note secured hereby, fu1l
payment of the entire indebtedness represented thereby, g~ shall, in computing
the amount of such indebtedneae, 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 Hortgage resulting in a public sale of the
premises covered hereby, or if giKp? acquiree the property otherwise after default,
g~ sha12 apply, at the time of the commeacement of such proceedings or at the
time the property is otherwise acquired, the amount then resoaining to credit of
Hortgagoz under (a) hereof as a credit on the interest accrued and unpaid and the
balance to the principal then rewaining unpaid on said note. •
17. That if any action, or proceeding, shall be commeneed by any person other than
the holder of this Mortgage (except an action to foreclose this Mortgage, or to
collect the debt secured thereby) to which action, or proceediag, the holder of
this Mortgage is made a party, or in which it shall become necessary to defend,
or uphold, the lien of this Mortgage, all sums paid by the holder of this Mort-
gage for the expense of any litigation (including reasonable couneel feea), shall
be paid by the Kortgagor, together with interest thereon, at the rate of six (6X)
percent, per annum. and any su~h sum, and the interest thereon, sha11 be a cla Ln
the repayment of which is eecured by this mortgage and by the note that it
secures. In any action or proceeding to foreclose this 1~brtgage, or to recover,
ot collect the debt secured therebq, the proviaions of lav reapecting the ~
recovery of costa, disbursements and allovances ahall prevail, unaffected by this
coven+ant.
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