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15. 'ff a comeyance ehould be sade by tAe Mortgagor of the premisea herein desc-
riped, or any part thereuf, vithout the vritten consent of SMA , and without
aesuvption 1A ragular for~ of law by the grantee of the obligation to SMA
created by said pro~issory note and this Nortgage. then, and in that event,
and at the option of SMA, and vithout noti.ce, all s~ms of money secured
hereby shall iaioerliately and copcurreAtly With such courveyance become due and
payable snd in default. SMA may charge a reasonable fee for its services
in causing a tranefer in o~mership to be reflected in its books.
16. That whenever in the sold discretion and judgment of SMA it ehall be for the
best intereat of SMA to require additional security from the Mortgag~r, and
in order more fully to protect the aecurity of this Nortgage SMA ahall find
it neceesary so to do, then at the option af S2~SA and comnencing vith the
first nonth2y payment date after SMA shall i1av~ exercised its option hereunder,
the folloving terms, covenants and conditions shall become in full force and
effecc 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 secured hereby on the first day of each month unt21
the said note is fully paid, vill pay to SMA the following sums:
(a) A sian equal to the-ground rente, if any, next due, plus the premi~s that
~ill next became due and payable for mortgage inaurance and on policies of
fire and other hazard insurance covering the mortgaged property, plus taxes
and asseasmenta next due on the mortgaged property (all ae estimated by SMA)
lese all auma already paid therefor divided by the number of monthe to elapse
before one month prior to the date when such groucid renta, premiume, taxes, and
assesements will becaae due , auch aums to be held by•.,SMA in trust to pay
eaid ground rents, premiuma, taxes, and special asseasments.
, (b) The aggregate of the amounta payable purauant to subparagraph (a~ and those
payable on the note aecured hereby, ahall be paid in a aingle payment each month,
to be applied to the following iteme in the order stated;
(I) ground rente, taxes, aeeessmenta, fire, and other hazard insurance premiums,
mortgage ineurance premium;
(II)interest on the note secured hereby; and
(III)amortization of the principal of said note.
Any deffciency in the amount of auch aggregate monthly payment shall, unless
made good by the Mortgagor prior to the due date of the next such peyment,
constitute an e~;ent of default under this Hortgage.
If the total of the payments made by the Mortgagor under (a) hereof shall
exceed the amount of payments actua2ly made by SMA, for ground rents, taxes,
and assessments, and insurance premiums, as the case may be, sueh excess shall
be credited on subsequent payments to be made by the Iiortgugor far such items.
. If, however, such monthly payments shall not be sufficient to pay such ite~ns
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
vithin fifteen (15) days after written notice from SMA stating the amount of the
deficiency, which natice ~a3~ be given by asa32. If at any tiae the ?~lortgagor shall
tender to g~p in accordance vith the proviaions of the note secured hereby, full
paytnent of the entire indebtedness represented thereby, g~yp shall, in computing
the amount of such indebted~ess, credit Lo the account of the Mortgagor any credit
balance remaining under the provisions of (a) hereof. If there ahall be a default
under any of the provisions of this Hortgage resu2ting in a public sale of the
premises covered hereby, or if SMA acquirea the property otherwise after default,
S~ st~a21 apply, at the time of Lhe commencesent of such proceedings or at the
time the property is otherwise acquired, the amount then remaining to credit of
t3ortgagor under (a) hereof se 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 psoceeding, shall be comneneed by any person other than
the holder of this Mortgage (encept an actton to foreclose this Mortgr.ge, or to
collect the debt secured thereby) to vhich action, or proceeding, the holder of
this Mortgage is made a party, or in which it ahall become necessary [o defend,
or uphold. the lien of this tbrtgage, all sums paid by the holder of this Nort-
gage for the expense of any litigation (including reasonable couneel feea), shall
be paid by the Mortgagor, together with interest thereon~ at the rate of eix (6X)
percent, per annum, and any such sum, and the interest thereon, sha11 be a claim
the repaysent of vhich ie aecured bq this uortgage aad by the note that it
aecures. In any action or proceeding to foreclose this ?brtgage. or to recover,
or collect the debt eecured therebq. the proviaions of laW respecting tht
recovery of costs, diabursments and allovances shall prevail, unaffected by this
covenant. -
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