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To Ha~~e And To Fiold thc same, together with all and singular 2. That, in ordcr more (ully to protcct thc security of this
the ter,cments, hereditaments and appurtcnanccs thereunto belong• mortgage, the Martgagor, tagether with, and in addition to, ihe
ing or in anywisc appcrtaining, a~d the rcvcrsion and revcrsions, monthly payments under the terms of the note securcd hercby, on
remainder or remainders, rents, issucs a~d profits thereof; and also the first ciay of each month until thc said notc is fully paid, will
aU the estate, right, title, intcrest, homestead, separate eslatc, pay to thc Mortgagce thc foll~wing sums:
pc~sscssion, claim and demand whatsoever, as wcll in law as in ~z~ q sum equal to thc ground rents, if any, ncxt d~c, plus the
equity, of the said Mortgagor in and to the same, and every part premiums that will next become due and payable on paiicies of fire
thercof, with the appurtenances ot the said Mortgagor in and to and other harard insurance covering the mortgaged property, plus
the same, and every part and parcel thercof unlo the said Mort• ~axcs and asscssmcnts ncxi due on the mortgaged property (all as
gagee in fee simple. cstima~cd by thc Mortgagcc) Icss al1 sums already paid thcrefor
And the Mortgagor hercby covenants with the Mortgagcc that dividcd by the number of months to clapsc beforc one month prior
he is indefeasibly seized of said land in fee simple; that hc has full to thc date when such ground rents, premiums, taxes, and
. power and lawful right to convey the same in fee simple as as.u,ssments will becomc delinquent, such sums to be held by Mort-
aforesaid; lhat it shall be lawful;for the Mortgagee, at all times gagee in trust to pay said ground rents, premiums, taxes, and
peaceably and quietly to enter upon, hold, occupy, and en}oy said s~cial assessments; and
land, and crcry part thcr~of; that the land is and will rcmain frcc ~b) All paymcnts mcntioncd in thc prcccding subscction of this
from all encumbrances; that said Mortgagor wil! make such further ~~ragraph and all payments to be made under the note secured
assurances to prove the fee simple title to said land in said Mort- hcrcby shall bc added togcther and thc aggregatc amount thereof
gagec as may be reasonably required, and that said Mortgagor does
hereby ful~y warrant the title to said land, and evcry part thercof, shall be paid by thc Mortgagor each month in a single paymcnt to
be a lied b ti~e Mort a ee to the foUowin items in the order set
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` apd will defcnd thc samc against thc lawful daims of all pcrsons pn
i:~ whomsocver. for~h:
i; (i) ground renls, taxes, asscssments, fire and other hazard in-
- Prorided always, and these presents are execuled and delivercd surance premiums;
_ upon the following conditions, to wit: (~~1 interest on the note secured hereby:
(iii) amortization of the principal of said notc;
(iv) latc chargcs
The Mortgagor agrees to pay the Mortgagee, or order, the principal nny deficiency in the amount of such aggregale monthly payment
sum of SEVENTY THOUSAND SIXTY FIVE DOLLARS AND shall, unless made good by the Morlgagor prior to the due date of
NO/ 100--------------------------------------- the next such payment, constitute an event of default under this
Dollars (S 70 , 065 . 00 mortgage. The Mortgagee may collect a"late ~harge" nc~t to exceed
four cents (~e) for each dollar IS1) of each payment more than fif-
tccn (15) days in arrcars to covcr (hc expcnsc involvcd in handlirtg
as evidenced by a note of evcn dalc herewith, with interesl from ~clinqucnt payments.
datc at thc ratc of NINE AND SO/100---------------
per centum ( 9. S00 96), per annum on the unpaid 3. That if the total of the paymen~s made by the Mortgagor
under (a) of paragraph 2 preceding shall cxcced the amount of
balance until paid. The said principal and interest shall be payable ~yments actually made by the Mortp,agee for ground rents, taxes
at the oifice of FIRST CITIZENS FLDERAL SAVIN~S and assessments and insurance premiums, as the case may be, such
AND LOAN ASSOCIATION excess, if the loan is current, at the option of the Mortgagor, shall
or at such other place as the holder of the note may designate in be credited on subsequent payments to be made by the Mortgagor,
writing, in montf~ly installmen~s of FIVE HUNDRED EIGHT`Y or refunded to the Mortgagor. If, however, the monthly payments
made by the Mortgagor under (a) of paragraph 2 preceding shall
NING DOLLARS AND 14/ I00--------------------- not be sufficient to pay ground rents, taxes and assessments and in-
~ Dollars !b 589. 14 l, surance premiums, as the case may be, when the same shall
commencing on the first day of NOVLfiiBER , 19 86 . become due and payable, then the Morlgagor shall pay to the
` and on the first day of each month thereafter until the Morlgagee any amount necessary to make up the deficiency, on or ~
before the date when paymcnt of such ground rents, taxcs,
asscssmcnts, or insurance premiums shall bc due. It at any time the
principal and interesl are fully paid, except thal the fina) payment Morlgagor shaU tender to lhe Mortgagee, in accordance with the
of prir~cipal and interest, if not sooner paid, shall be due anJ provisions of the note secured hereby, full payment of the entirc
payable on thc first day of OCTOBER 2016 indcbtedncss representcd thcreby, ~he Mortgagec shall, in com-
puting the amoant of such indebtedness, credit to the account of
And shal! duly, promptly, and fully perform, discharge, execute, ef- ~he Mortgagor any balance remaining in the funds accumulated
' under lhe provisions of (a) of said paragraph 2. If there shall be a
~ fea, complcte, and compty with and abidc by cach and every thc default under any of the provisions of ~his m~rtgage resulting in a
~ stipulations, agreements, conditions, and covenants of said promis- public sale o! the premises covered hereby, or i( the Mortgagee ac-
~ sory note and of this mor~gagc, ~hcn this mortgage and thc cscatc quires thc property otherwise after dcfault, the Morlgagee shall
hereby created shall cease an~ be null and void. apply, at thc time of the commencement of such proceedings, or at
the same time the properly is otherwise acquired, the balance then
~ And the Morlgagar further corenants as follows: remaining in the funds accumulated under (a) of paragraph 2
preceding as a credit against tt~e amount o( principal then remain-
ing unpaid undcr said notc. '
4. That he will pay all taxes, assessments, water ratcs, and
i. "That he will pay the indebtedness as hereinbefore provided. other governmental or municipal charges, fines, or imposi:ions, for
Privilege is reserved to pay thc debt, in whole or in ~art, on any which provision has nol been made hereinbefore, and in default ~
installmc~t duc date. thercof the Mortgagee may pay thc same; and that he will prompt• -
ly deliver the official receipts therefor to the Mortgagee. ~
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