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15. 'ff a comeyance should be *ade by the Kortgagor of the premisea herein desc-
ribed, or any part theseof, without the vrittan consenr of SMA . and without
aseu~ptioa in rasular for~ of lav by the grantee of the obligation to SMA
created by said prooissorq note and this Iiortgage, then. and in that event,
and at the option of SMA, at~d vithout notice, all suma of money secured
hereby shall iasediately aAd copcurrently with such comeyance become due and
payable and in default. SMA ~ay charge a reasonable fee for its servicea
in causing a transfer in ovnership tb be reflected in its books.
16. That whenever in the sold discretion at~d judgment of SMA it shall be for the
best interest of SMA to require additional aecurity from the Mortgagor, and
in order more fully to protect the eecurity of this Mortgage SMA shall find
it necessary ao to do, then at the option of S;~lA and cominencing with the
first nonthly pay~aent date after SMA ahall have exercised its option hereunder,
the fo~lowing terms, covenants and couditiona shall become in full f~rce and
effect in addition to all of the other terms, covenants and conditions herein
set forth:
That the Hortgagor vill together vith, and in addition to, the nwnthly payment
under the terms of the note secured hereby on the first day of each nwnth until
the said note is fully paid, will pay to SMA the folloving sums:
(a) A aum equal to the ground rente, if any, next due, plus the premi~aas that
will next become due and payable for martgage insurance and on palicies of
fire and other hazard insurance covering the mortgaged property, plua taxes
and asaeesments next due on the mortgaged property (all as eatimated by SMA)
2ess all aume already paid therefor divided by the num?ber of months to elapse
before one month prior to the date when euch ground rents, premiums, taxes, and
asaeaements Will become dus , such sums to be held by SMA in trust to pay
said ground rents, premiuma, taxes, and special asaessmente.
(b) The aggregate of the amounts payable pursuant to subparagraph (a) and thoee
payable on the note secured hereby, shall be paid in a single payment each month,
to be applied to the following itema in the order etated:
(I) ground rente, taxes, asaeesments, fire, and other hazard inaurance premiums,
mortgage ineurance premium;
(II)interest on the note secured hereby; and
(III)amortization of the principal of said note.
Any deficiency in the amount of such aggrega[e 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 shall
exceed the amount of payments actually made by SMA, for_ground rents, taxes,
and assessments, and insurance premiums, as the case may be, such excess ehall
be credited on subsequent payments to be made by the Murtgdgor for such items.
_ If, hovever, such monthly payments shall not be sufficient to pay such items
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 fifieen (15) days after written notice from SMA stating the amount of the
deficiency, vhich notice may be given by mail. If at any time the Mortgagor shall
tender to g~p in accordance with the provisions of the note secured 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 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 acquirea the property otherwise after default,
~ gMp shall apply, at the time of the co~mmencement of such proceedings or at the
~ time the property is otherwise acquired, the amount then remaining to credit of
~ Hortgagor under (a) hereof as a credit on the interest accrued and unpaid and the
balance to the principal [hen r~aalning unpaid on said note.
i I7. That if any action, or pzoceeding, shall be com~neneed by any person other than
~ the holder of this Mortgage (except an action to foreclose this I~lortgage, or to
~ collect the debt secured thereby) to which action, or proceeding, the holder of
~ this Mortgage is made a partq, or in which it shall become necessary to defend~
: or uphold, the lien of this Hortgage, all sums paid by the holder of this Mort-
' gage for the dcpense of any litigation (including reasonable couneel fees), shall
s be paid by the Nortgagor, together with interest thereon, at the rate of six (6x)
` percent, per annum, and any such sum, and the interest thereon, shall be a claim
; the repa~ent of which is aecured by this mortgage and by the note that it
£ secures. In any action or proceeding to foreclose this l~fortgage, or to recover,
€ or collect the debt eecured therebq, the provisions of law respecting the
recovery of costs, diebursements and allovances shall prevall, unaffected by thia
F covenant. ~
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