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<br /> � � � {tl) � � 1f an3 so inng as said 23+ate of even eL9ce end this i�uirument arc hcld by the Se,.xrtary of Howing and Urban Uevetopmevt,. � �
<br /> - � . � � x moRthlN sOrviCe ch81'g,C in an emount equwl tn 1 /l2 uf 1 /3� bl' thC average outstanding prin,cipai balanee 3ue on the Nute . �
<br /> . � � � com�uted for each auccsssive year hppinnirtg with [he tirat day �of the month follawing tho date of thls instrumene, 4t the � � �
<br /> � � � Seeretary �ot C3ousing and� Urbnn I7eretapmont is lhe � Martgngme (Bertef3Nary) named lierein, or [hc fin� day oC the month � � �
<br /> � ��. �� � � � tollucving asaignmeut, if the Nc�te and this inatrument are easigned to t6a � Secretary� of iiuusiiig and Urban L)cvetonment. � � � . �
<br /> � � � � ^tiY) . witriout taking into account delinGueeciu �:r prepqyment; . . � . � �
<br /> . ,.,� . {D) � A sum equsl to .lhe graund �renYs, if any , next due. PVcu chc premiums that v�ill. rtext Aernme due w�d payabie on poliNearit�Cire �
<br /> � and othar pcoperty 'vnsuran�a ccvecing t�he premis� rnverert �hereby, plus waYer raten, taxes �and assesamenW next due on th¢ � � �� �
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<br /> , � � ' �rremiacs� covered �ereby� iail .as estimated by the Mortgagec) tass all yu�ns already paid 4hvrclore dividad by� the nomber of aronths . � � � � .� �
<br /> - � � � to atapa¢ before one monrh prior lo the datc . when such g,raund renta, pnemium�, �vater rates, taxca end aasr.uments wili. becume � � . . . � � � � �
<br /> * � aedttquenx, xvcA � sums lo bc heW �by: Mortga�eo in Aruat to pay said giaunQ mnte, prnmiuxnx, wpter ratea, taxen, .and� apecirl � � � � . �
<br /> � . . . assessmtnta: . . � . � .
<br /> fc/ Nt pa.ymenta: mentissne3 in the� txo preceding su6sectlons of tAfs paragnph and all psymr.nts in be m�de under the Note secuced
<br /> �� � . � . herehy shnll be edded . tugetAar a�d She eggre$ato amount thrzeqf shali be . paid each month ia a sing�e payment to be appli+ed ay � �
<br /> . � Mqrtgagee. to ihe foltowing.items in the order set. forth : � � � � . . . � � � � .
<br /> � � � � � (!) premfum �charqoa under tfia Contract � of �Insurance. with the Secretary of Hnuslnp an� UrAun Devclopmrnat, acting by nnd � � � �
<br /> � � fbroug3� the Federai t{ouaing Commiasio��er. or aervice charqe: � � � � � .
<br /> - (21) qroimd rcnts, taxes, apacial axsdeamentn, uatar ratea�, Rre anS other property insurancc premiums; . � . � �
<br /> . � QI[) inte�ra# on the Note accured. hereby; � . � � � � �
<br /> � � � ([V) amortizeUon oC the prineipai of said Note; � � .
<br /> ! Q Ir, thu event tlze Mntt�agor fnils to pay any sums provided for in this Mortga�e , Uie Mortgagca, at its nption; inay pav
<br /> the samo. Any excess funds accumutated undar (A) of the {�receding paragraph cemaiixing after paynzent of the items therein
<br /> ❑aentianed , shail be credited to subsequent mnnthly payments nf the same nature mguired thereunder; hut ii any such ikem
<br /> xhuil execed the estimaEn thesetor, or iP the Mortgagor shall fail to pay any ather governmental or n�unicipal chasge, thc
<br /> Martgagot shatl fotthtrsth make good the deCiciancy or pay ihc charge bcfore tlie sreme becomes deiinquent ur suhject to
<br /> ucierest or penalYies and in default thereof the Morigagec mny pay the saine. r�il swns paid try the A�ortgagee and anyr sunxs
<br /> which t,1ie Mortgagee may be required to advance to pay morkgage insurance premiums shali ise added to ttie princtipal csf the
<br /> t debt sezured hcreby »nd s}ialt bear interest Crom Lhe date af paysne�it at the ratc spe�ified in Yhe Nate and shail be due and
<br /> payaUle on demand. ln case of Yerminatian of the Coniract of Mortgage Insurancc t�y prepuyrtzeak qf the Mortgage in full, ot
<br /> otheswtse (except as heninafccr prorided), accumulations under tu/ of thc nreccding paragra�sh hercof not required to rneet
<br /> , pnymenis duc under the Contract of ivlartgagc [nsurance, shall be creditcd to Uu 6iortgagor. If Uie pm�erty is satd uradar � � �
<br /> foreclosure or is othetwise acquixcd by the Slorigagee affcr defaulY , any remaining halance of t3ie accuinutations under (b) t�f
<br /> the �arece.ding pruagraph shall be cxeditcd lo t6e prinripal of the Mortgage as nf the datc of tltc commencement of f�seciasure
<br /> proceedin}C: or as of fhe datc the property is otherwise acquireci; snd accumulations under (a) tlicreof shal2 be. i[kew�ise
<br /> credited unless mquired to p�}� sums due the Secretary of Fiousing and Urban Uevelopment, actinp; by and tlirougtt tlze
<br /> Federel Housing Commissioner under the Contract of Mortgage insurancc ;
<br /> i 1 . 'I'hai thc Mottgagor will pay all tares wiuch mry be Icvie� upon che Mortgagce 's intecest in said real estete and
<br /> impro��menfs, and whieh muy be le.viad upon this Mortgage or the dcbt secumd hereby (but only tn the cxtent that such is
<br /> noY �rohibited by law and only to the extcnt that su.cli e•i(I naY make this loan usurious?, but e,s cluding any incaane tax , Stnte
<br /> nr ���i�r91, lr;��,�yet1 �n Mortgagee, and will file th� officiai receipt showing such payment witii ihe �4ortgagee. Upon vi�Uation
<br /> nf Chis undertalcing, or if Yhe Mortp,�gor is prohibited by any law now on c�reaftct c+:isiix�g from paving the whol� os any
<br /> portion of the aforesaid taxes, or upon the rendering o( any wurt decrec prohibititig the payrnent by the AlortgaRzor of any
<br /> such taxes, ar if such law nr decree prcavid�s that any amount so paid by the Mortqr�r shalt bc cr0dited an r,hn mortgage
<br /> debi, thc !�lortgagce sh3ll have thc ripJit to give ninety days' written iiotice lo the owttcr oi the mortg:�ed prerntsos, rei�uitinq
<br /> tht pa}�ment of the morYgage dabt . tf such nnticc be given , thc �id debt shali bewme due , payable , and soklecfible at khe
<br /> expixation of said ninety (90) days.
<br /> 12 . That hlortgagor wili not cornmit, permit, or suffer was[e, impainnenf, or deterioration oi' sai3 property ar any
<br /> part thereof, and in tho event of the failure of the Mortgugor to keep the buildin�s on said prcmiscx and t:hase to be erected
<br /> on said premises, or improvements Hiemon, in good repair, the Mortgugee map mako wch repairs as in its d{scretion it rney
<br /> ; deerri necessary for tl�e proper preservatinn Chercof, xnd any sums paid for such rcpairs shxli bcar Intcrest Crom the date of
<br /> payme,nt at tlxe rate sper.il7ed ii� the Note , shult be d�c snd {�ayable on demund and shaU bc fully xecured by Sl�e Mortgage;
<br /> 13 . 1'hat if Chere yhul! be a deCault in any of thc tenns, conditions, or cpve�iants ol' t)tis Mortgage , nr ihc Note secured
<br /> heeeby, then sny sums vwin� by the Martgagor to the Mortgagee shall , at tlie a{>tion oi the A4or[g:�ee , bea�me immedistely
<br /> due and payahie. 1'he tviorf�agee ot any holder of this Murtgage and thc Note secund itereby sha31 th�n have thc ri�yht Yo enter
<br /> , into the possession of ttze mort�aged premises xnd coliect the rents, issucs, and profits thereof. In �ny action to forecle�se, the
<br /> llolder of this Mortgage shall be entitted to the stppointrtient of n re�iver of tho rents and prof'its of thc rztart�ed preniises
<br /> as a matter of right and without notist with pawer to c�llect lhe rents, issues, and profits af said mortgaged {inmisas� d�1e
<br /> and becamin� due during the pendency of xuch foreclasure suit, stiieh rents anct pr�fits being herchy expressly axsigned and
<br /> pledged as additionrsl securify fox Ihe payment of the indebtednew+ secured by this Morkgage, widiout srgard to the velue of
<br /> the mortgaged prenuses or tlie solvency of �ny person or persans tiablu fc�r the paymr.nt �f the mortg:t�,c indebtedness. 'Fhis
<br /> Mortgagor far itsclf and any subsequent owner hereby u*aiver imy and atl defenses to the applicali�n for a rci�eiver as above
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<br /> snd 9�ereby specii'ically consents tv such uppoinement without notice, but nothing herein �rontnined is t� be annstrueci ta
<br /> deprivc the holder c�f the Mortgagr. of any otlier right , reinedy, or privilcge. it may naw havc u�tdcr the law to have a receiver
<br /> � �I�P�»x��ed . 7'he pruviaion for the a}+pointment of a recei��er of the rents and pratits aiad Uu aasi�zrrment ol si�s.li rcnts and
<br /> �unfits is made un expres� chnditiUn upon which the loan riereby secured is made ;
<br /> 14 . 'That rio wsiver of any cunvenant hercin or of the obtigation secured f�ereh,y s2:nl! at �ny time thereut'ter bc held ta
<br /> be a wsiver nf the tcrrns i�crecjt or of tha Natc �ecxire3 hereby ;
<br /> I S . 7'hat all payments made by the Mort�gee lo rettaedv a default by the Aiortgagor as uforesaid and the tata.l aC arxy
<br /> payment <�r payments due t'rom the Mor(gugor to tl�e Mortgagce and in dcfault shull br added to the ciebt secumd by this
<br /> Mortgage and s}xall be rr.;paid ta the Mortgagec upon demand . Any such sum and interest thereon at ihe rate specified in the
<br /> N�Ye shnl! br e iien on the ptemises , privr to any othcr lien atl:aching or accruing subsec3ucnt to i:;hc lien c�f this Mort�age ,
<br /> .� � i G . 'fliai w Ica�i�5 aa ilAe Rivrigage id i�irured iu�uer tlte E�awvisions ut t1ie. National tiousuig .Aci or kield by Khc 5ccaetary �
<br /> af I�I��trsiatg atid Urban Devetopment, it avill nc�t voluntaritq c:reate or pertnit. to Ue created xgains# tl�e ptoperty sutaject to ittis
<br /> M�rtgege anY tien orlir.ns inferior or superior to Y}te lien c.E this Mort�agc, and f'urther it will kcep and inaintain khc same frce
<br /> irom the olaim at nll persons supplying labar or mr� terials whicti will enter inta the constructian oa nuy and all �uild'ut�.s now
<br /> �eing erected or to be erected c�n sard premises
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<br /> 17 . 77iat tllc impruvc�nonts aGout 4u be n�ade upon Ute pminisv� :xbow described anc4 all pians and specificationx `
<br /> »` cornply with aJl municipxt ordinances und regulatiqns made c�r prantt�IgnWd by 9nwful nuihonty , and that the �ame will upon �
<br /> e.an�pletion comply with all such municipal ordinunces �i�d regulatioqs und Wifh tti� iules uf tlie fire ra[ing oc inspecti�n �r r
<br /> � . , or�anixation; bureau, u:ssnciati�n ur offico which arr now or maty hereafter become ap�li�;able to the piremisr.s �bo�r
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<br />� 13 Tltat the i �cuIs to Ua a�ivun�rJ li�ic,in raic tu iie �se�l uz Ll�e �on�t:ructwn ol certaan �mpravcm¢nts on thr lands �
<br /> h:�r;r. ties r.���d. i.. .:cccrd�r.cc z,ilh a 5�ilding So�r, ag:ccaiwi:t da.cd P."Rl" iS7 , i >77 , iwtw �eu thr Murtgagor <»�;�e
<br /> : and the �4ortgag,�r, which building loan agreament tUe � tvtortguy.ot � covenants to p�rfnrin ; iC Ure. consinrcticen ot fhe � �
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