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15. ~f a comeyance ahould be sade by the I~brtgagor of the premises herein desc-
ribed. or aAr part thereof~ vithout the written consent of SMA , and vithout
asauaption in ragular fors of lav by th~ grantee of the obligation to SMA
created by said prosiseorq note aAd thia Mortgage, then. and in that ~vent~
and at the option of SMA, and vithout notice, all sums of money secured
hereby stu?11 iaoediately aad corcurrently with such comreyance become due and
payable and in default. SMA uay charge a reasonable fee for its services
in cauaiag a tranefer in ovnership to be reflected in its books.
16. That vhenever in the sold discretion and judgment of SMA it shall be for the
best intereat of SMA to require additional security from the Mortgagor, and
in order more fully to protect the security of this lbrtgage SMA shall find
it necessary ao to do, then at the option of St-tA and comaencing vith the
first monthly payment date after SMA ahall have exercised i~s option hereunder~
the following tetms, covenants and conditiona shall become in full force and
effect in addition to all of the other terms. covenants and conditions herein
set forth:
That the Hortgagor vill together with, and in addition to, the cwnthly paym~nt
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 folloaing sums:
(a) A s~mm equal to the ground rents, if any, next due, plus the premi~mms that
will next become due and payable for mortgage ineurance and on policiea of
fire and other hazard in8urance covering the mortgaged property, plue taxea
and assesamenta next due on the mortgaged property (all ae eetimated by SMA)
leas all aums already paid therefor divided by the number of months to elapse
before one month prior to rhe date when euch ground rents, premiums, taxes, and
aseesamenta Will become dua , such sums to be held by 5MA in truet to pay
said ground rents, premiums, taxes, and special aseesamenta.
(b) The aggregate of the amounts payable purauant to subparagraph (a) a~d those
payable on the note aecured hereby, shall be paid in a sfngle payment each manth,
to be applied to the following items in the order s[ated:
(I) ground renta, taxea, aeaeasments, ffre, and other hazard insurance premiums,
mortgage ineurance premiwn;
(II)interest on the noCe secured 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 Mor[gagor prior to the due date of the next such payment,
constitute an e~ent of default ~~nder this Mortgage.
If the total of the payments made by the Mortgagor under (a) hereof shall
excePCi the amount of payments actually 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 I`Iortgdgor for such items.
If, however, such monthly payments shall not be sufficient to pay such ite~s
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
within fifteen (15) days after written notice from SMA sta[ing the amount of the
deficiency, which notice may be given by mail. If at any time the Mortgagor shall
tender to S~p in accordance vith [he provisions of the note secured hereby, full
payment of the entire indebtedness represented thereby, gM,pi shall, in computing
the amount of such indebtednesa. credit to the account of the riortgagor any credit
balance remaining under the provisions of (a) hereof. If there shall be a default
under any of the provisions of this Mortgage resulting in a public sale of the
premises covered hereby, or if SMA acquiree the property otherwise after default,
gMp shall apply, at the time of the co~anence~ent 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 remaining 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 Mortgege, or to
collect the debt secured thereby) to tii~ich action, or proceeding, the holder of
this Mortgage is made a partq, or in vhich it shall become necessary to defend,
or uphold, the lien of this ?brtgage, all suma paid by the holder of this Mort-
gage for the expense of any litigation (including reasonable counael fees), shall
be paid by the Mortgagor, together with intereBt thereon, at the rate of aix (6x)
percent, per annun?, and sny such sum, and the interest thereon, shall be a claim
the repayment of vhich is aecured by this moYtgage a~ by the note that it
secures. In any action or proceeding to foreclose this INortgage, or to recover,
or collect the debt aecured therebq, the provisions of 1aW respecting the
recovery of costs, diabursemeats and allowancea ehall prevail, unaff ected by this
coversant.
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