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1S. 'lf a comreyance ehould be sade by the Mortgagor of the premisea herein deac-
ribed, or any part thereof, without the ~rtitten consent of SMA , and without
assu~ption ia ragular~fors of lav by the grantee of the obligation to SMA
created by s~id prasissory note and this Nortgage, then, and in that event.
and at the option of SMA. and without notice, a12 sums of money secured
hereby s~ull iasediately aad concurrently With such conveyance become due and
payable and in default. SMA may charge a reasonable fee for its services
in cauaing a tranefer in oWnership to be reflected in its books.
16. That Whenever in the sold discretion and ~udgment of SMA it 8ha11 be for the
best interest of SMA to require additional aecurity from the Mortgagor, and
in order more fully to protect the securitq of this Hortgage.SMA sha21 find
it necessaty so to do, then at the option of S:lA and commenciag vith the
first ooathly payment date after SMA shall have exercised its option hereunder,
the following terms, 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 Hortgagor will together with, and in addition to, the monthly payment
under the terms of the note se~ured hereby on the first day of each month until
the said note is fully paid, vill pay to SMA the fo2loving sume:
(a) A su~ equal to the ground rente, if any, next due, plue the premiums that
will next become due and payable for mortgage ineurance and on policies of i
fire and other hazard lnsurance covering the mortgaged property, plua taxee !
and asseaements next due an the mortgaged property (all as estimaced by SMA)
less all eume already paid therefor divided by the number of monthe to elapse ~
before one month prior to the date vhen auch ground rente, premiume, taxes, and
asaesamente wi11 became dtts , such awna to be held by SMA in truet to pay
said ground renta, premiums, taxes, and apecial asaeasments. ~
(bj The aggregate of the amounta payable pursuant to aubparagraph (aj and thoae
payable on the note secured hereby, ahall be paid in a single payment each month,
to be applied to the following items in the order atated:
(I) ground rents, taxea, aseesaments, fire, and other t~azard insurance premiums,
martgage ineurance premium;
(II)interest on the note eecured hereby; and
(III)amortizatfon 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 event of default under this Mortgage.
If the total of the payments made by the Mortgagor under (a) hereof s~aZl
exceed the amount of payments actua2ly made by SMA, for ground 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 Mortgssgor for such items.
. If, however, such monthly payments shall not be sufficient to pay such items
when the same shall become due and payable, ttien the M~ortgagor 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, vhich notice ~ay be givea hy asa31. If st any time the Mortgagor shall `
iender to g~p in accordance with the provisions af che note secure3 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 ut~der the provisions of (s) hereof. If there sha11 be a default
under any of the provisions of thie Nortgage resulting in a pub2ic sale of the
prea~ises covered hereby, or if gMA acquirea the property otherwise after default,
gMp shall applq, at the time of the c~aencement of such proceedinge or at the
time the property is otherwise acquired, the amount then remaining to'credit of
Mortgagor under (a) hereof as a credit on the interest accrued and unpaid and the
balance to the principal then remaining unpaid on said note. •
17. That if any action, or proceeding, shall be com~eneed by any petson other than
the holder of this Mortgage (e~ccept an action to foreclose this Mortgage, or to
collect the debt secured thereby) to which action, or proceeding, the holder of
[his Mortgage is made a partq, or in which it shall became necessary to defend,
or uphold, the lien of this Hortgage, all swns paid by the holder of this Mort-
gage for the expense of any litigation (including reasonable counsel feea), shall
be paid by the Mortgagor, togethe~e with intereat thereon, at the rate of aix (6X)
percent, per anrnun, and any euch sum, and the interest thereon, shall be a claien
the repaysent of which ie eecurad by this mortgage and by the aote t!u t it
aecures. In any action or proceeding to forecloae thia tbrtgage, or to recover,
or collect the debt secured therebq, Lhe proviaions of law respecting the
recovery of coate~ diaburameats and allowances shall pre~vail, unaffected by this
covenant.
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