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1S. 'ff a comeyance should be tiade by the Mortgsgor of the premisea herein desc-
ribed. or any past thereof, vithout the vritten conse~t of SMA , and without
assuvption ia ragular fors of law by the grantee of the obligation to SMA
created by aaid prooisaory note and thls Mortgage, then, ac~d in •that event,
and at the option of SMA, and Without notice, all sums of money secured
hereby shall imsediately and copcurrently vith such conveyance become due and
payable and in default. SMA may charge a reasonable fee for its aervices
in causing a transfer in owmership to be reflected in i[s books.
16. That vhenever in the sold discretion and ~udgment of SMA it shall be for the
best interest of SMA to require additional security from the Hortgagor, and
in order more fully to protect the eecurity of this Mortgage SMA shall find
it necessary ao to do, then at the cption of S;4A and conaaencing with the
first monthly payrtient date after SMA ehall have e~cercised its option hereunder,
ihe following terms, covenants and conditions shall become in full force and
effect in addition to all of the other terms, covenants and conditlons herein
set forth:
That the Hortgagor will together wich, and in addition to, the monthly payment
under the tetms of the note secured hereby on the first day of each month until
the said note is fully paid, vill pay to SMA the following sums:
(a) A avan equal to the ground renta, if any, next due, plus the premiuma that
will next became due and payable for mortgage ineurance and on policies of
fire and other haaard insurance covering the mortgaged property, plus taxes -
and assesaments next due on the mortgaged property (a21 as eatimated by SMA)
2ess all sums already paid therefor divided by the number of months to elapse
before one month prior to the date when such ground renta, premiums, taxes, and
seae8amenta will becaae dua , such aums to be held by SMA in trust to pay
said ground renta, premiums, taxes, and special asaessments.
(b) The aggregate of the amounts payable purauant to aubparagraph (aj and those
payable on the note secured hereby, shall be paid in a aingle payment each ~onth,
ta be applied to the fa21o~?ing itema in the order stated:
(I) ground rente, taxes, aeaeasments, fire, and other hazard insurance premiums,
mortgage ineurance premium;
(II)interes[ on the note aecured hereby; and
(III)amoriization of the principal of said note.
Any deficiency in the amount of such aggregate monihly paya?ent shall, unless
made good by the Hortgagor prior to the due date of the next such payment,
constitute an e~ent of default under this Mortgage.
If the to[al 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 shall
be credited on subsequent payments to be made by the Hortgagor for such items.
If, however, such monthly payments shall not be sufficient to pay such ite~s
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 fifteen (15) days after written 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 g~p in accordance with the provisions of the note secured hereby, full
paymen[ of the entire indebtedness represented thereby, g~p shall, in computing
the amount of such indebtedness, credit to the account of tt?e Mortgagor any credit
balance remaining under [he provisions of (a) hereof. If there shall be a default
under any of the provisions of this Nortgage resulting in a public sale of the
premises covered hereby, or if SMA acquires the property otherwise after default,
g~p shall apply, at the time of the ca~encement of such proceedings or at the
time the property is other~+ise 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 then reinaining unpaid on said note.
17. That if any action, or proceeding, shall be comneneed by any peTSOn other than
the holder of this Mortgage (except an action to foreclose this Mortgage, or to
collect the deb[ 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 Mortgage, all suma paid by the holder of this Mort-
gage for the expense of any iicig8cion (including reasonable counsel fees). shall
be paid by the Hortgagor, together aith lntereet thereon, at the rate of six (6X)
percent, per anctum, and any 8uch sum, and the lnterest thereon, shall be a claim
the repayment of vhich ia aecured by this mortgage and by the note that it
secures. In any action or proceeding to foreclose this l~brtgage. or to recover,
or collect the debt secured thereby, the provisions of lav respecting the
recovery of costs, diaburs ments and allowances sha21 prevall, unaffected by thie
covenant.
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