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15. ~f a comeyance should De sade by the Mostgagor of the premiaea herein desc-
ribed, or any part thereof, Without the written consent of SMA , and vithout `
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aaeuaption in ragular fors of lav by the grantee of the obligatioa to SMA
created by said prosis.ory note a~d this Mortgage, chen, and in that ~vent,
and at the option of SMA, a~d vithout notice, all sums of money secured
hereby shall isoediately aM copcurrently vith such conveyance become due and
payable and in default. SMA oay charge a reasonable fee for its services
in causing a transfer 1n ovnership to be reflected in its books.
16. That whenever in the sold discretion and judgment of SMA it shall be for the
best interest of SMA to require additio~aal security from the Mortgagor, and
in order more fully to protect the security of this Mortgage SMA shall find
it necessary eo to do, then at the ogtion of S.`-iA and commencing with the
ffrst oonthly payaieat date after SMA ahall have exercised its option hereunder,
the folloWing terms, covenants and coM itions 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 nanthly 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 s~mm equal to the ground renta, if any, next due, plus the premfums that
will next become due and payable for mortgage insurance and on policiea of
fire a~d other hazard insurance covering the mortgaged property, plus taxes
and asseasmenta next due on the mortgaged property (all as estimated by SMA)
lesa all suma already paid therefor divided by the number of months to elapse
before one month prior to the date vhen such ground renta, premiums, taxes, and
asseesments ~rill became dua , such aums to be held by SMA in trust to pay
said ground rents, premi~mma, taxea, and special asaesements.
(b) The aggregate of the amounta payable pursuant to aubparagraph (aj and thoae
payable on the note aecured hereby, ahall be paid in a single payment each month,
to be applied to the following iteme in the order stated:
(I) ground renta. taxes, asseasments, fire, and other hazard insurance premiums,
mortgage insurance premium;
(II)intereat on the note eecured 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 da[e of the next such payment,
constitute an e~ent of default under this Nortgage. '
If the total of the payments made by the Mortgagor under (a) hereof shall
exceed the amount of payments actual2y 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 Mortgegor for such it~s.
. If, however, such monthly payments shall not be sufficient to pay such i[ems
when the same shall become due and payable, tNen the Mortgagor shall pay to
SMA any amount necessary to make up the deficiency. Such payment shall be made
within fif[een (15) days after ~rrftten notice from SMA stating the amount of the
deficiency, which notice may be given by mail. If at any time the Mortgagor shall
tender to gjyp in accordance with the provisions of the note secured hereby, full
payment of the entire indebtedness represented thereby, g~p 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 Hortgage resu2ting in a public sale of Lhe
premises covered hereby, or if SMA acquiree the property otherwise after default,
gMp sha21 app2y, at the time of the conm~encement of such proceedings 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 ranaining unpaid on said note. ~
17. That if any action, or proceeding, shall be co~eneed by any person other than
the holder of this Mortgage (except en action to foreclose this Mortgsge, or to
collect tt~e debt secured thereby) to s+hich action, or proceeding, the holder of
this Mortgage is made a partq, or in ~rhich 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 r~cpense of any litigation (including reasonable counsel fees), shall
be paid by the Mortgagor, together vith interest thereon, at the rate of aix (6X)
percent, per annum, and any such sum, and the interest thereon, shall be a claim
the repayment of vhich ia aecured by thle mortgage and by the note that it
secures. In any action or proceeding to foreclose thia Mortgage, or to recover,
oz collect the debt eecured.therebq. the provisions of lav respec.ting the
recovery of coets, diabursenents and allovances shall prevail, unaff ected by this
covenant.
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