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<br /> III If aod w ba8 as qid �rota o( e�tn dNis asQ this inalrumset r�se ineurW or uc reinawed wader Ihc provin.wns a! thc NatiunW Muu�uy M:i, an
<br /> emount wfficient b accumWase in �hc Irands o! the hulder onr ( I I mun[h priur tw in duc dnte ths .aFnual munQaqe mxwasce prtmwm ia ur6er to �
<br /> provide .auCh hRH1ef with fund5 to puy wch plcmtum 10 !hc SCc refaly u( Nc+usia� and Urban Ikvdopmen� purfuant lo [Ae Natiunal Houung Act. �
<br /> at umended, and appfica6lc Regulatierna thercunder; ur
<br /> � . f1IY- � If and w brtg as wid note nf evm date anQ lbis insttumsnt a�c held Ay the 9screnary of Housini AMd Urban Developme�sa. s. moafhlY cluryee� tin � . . .
<br /> iieu o( e mor4gage insurenu premiumy which shall Fe io as amount eqa�d� to anc-�wttlN 11) f210( ome�hnl( Ut2) per cenwm of [Ae averyc.�ouh
<br /> � � standiny bulanee due on the iw:ie computed wirtiout lakinQ into account delinquenciea or prcpaymencs; � .
<br /> � . . (b) A sum�equaf to the �ound rents, if nny, nexl dae, ptus the premiums ihrl will next become due and payabk vn policies of fire aad othcr hazxd inwrence � � �
<br /> � . coverinII « mottyagcd property, plus taxee arW asxeesmmts nezt doe on Ihe mortgagecf proycrry (all ye rr�timated by thc Mortgagee) kaa ull suma ai• �
<br /> , � � rcacly paid themtoe divided by the swmberof months to etapse belora one morth pricx to the date whcn wcia ground rcats. O�emiuma. faxea am! assesa � � � � � �
<br /> . . � mewts wili becamc deiinquent. auch sums ta be held by Mortgay,ee in msast W pay said gr�Ml� rents, premiurecs, L�xcY und sD«�a� aa+esemeats; anit � � � �
<br /> � . �r) q1l,payments� menusned in [Ae rwn precedin; subxetione�a( thix Daragrnph and aAI pay�enss eo 6e made mder the roxe sccured� heraby� sAull be added � � ��
<br /> � rogGiher. and the aggregnte amount thereo( shall 6e paid by the Mortgagor exch month in a single peyment to Ix app�ied 6y the Mattgngcr to �he follaw• � � �. � � �
<br /> �, . . . ing�,items in tbe order set forth: � , � . . � " �
<br /> � � (}) � premium cAxrges under tht eontract ot insurance wilh the Secretary of Hnasing and Urban Devcloprn<nt.0[ mon(hly charge lin lieu of mnctgage . �
<br /> . insurartce prcminml, as the case may I�e: � � � � � � �
<br /> . � . . .(Ih � ground rents_ tazex, asscasmentS, fire and other huzard insurance prcmiums: . . � � �
<br /> � � Q[I')� � � � interest on ihc note securod hereby; end , � � : . � � . �
<br /> . .(IV;1r� '. . �amortizalion�ot thc principaF oP said nota . � . . . � .
<br /> . �. . Any deflciency in the amount of any such aggregace manthly payment shall, unless madc poud by the MarF,gagor prior to the du� data ef .the nezE such . - � ,
<br /> pngment, wnsti�ute an event ot dcfauFc�undar this mortgage. 7'he Mar[gagee may collcct a "late chargs" nut co cxceed tvwo ecn[s f2q� for eachdollar (S {) .
<br /> . � . of. eacbpayment more Ihan 6fteen (t5) daysin arears ca cover the cxtra expense involveA in hnndling delinyu,znt paymenas.� . � � .
<br /> " 3. That if the total of the payments made by the Mortgagor under (b) of para�raph 2 precading shatl exceed the amount of
<br /> - payments ac-xually made bythe Mortgagee For ground rents, taxes aod assessrrzents or insurarEce premiums, as the case may be,
<br /> such excess= at the optioa of the Mortgagee, shall be credited by the Mort�agee on su6seqaent payments to be made by Lhe
<br /> Mortgagoc, or refunded to the Mortgagor. If, however, the monthly payments made by the ll�ortgagor under (b) of paragraph 2
<br /> ' preceding stsall noi be safTicieM to pay �round rents , taxes and assessments or insurance prerniums, as the case may be, wfien
<br /> the same shall become due and payable, ihen the Mortgagor shall pay to the Miortgagee any amount necessary to mske up the
<br /> deficiency, an or before the date when payment of such ground rents, taxes, assessments or irtsurance premiums sha!} be due_ If
<br /> at any time ehe Mortgagor shali tender to the Tvfortgagee. in accordance with the provisivns of the reote sec�red hereby, tu11
<br /> payment of che entire indebtedness represented there6y, the Mort�agee sha21 , in computing the amount of such indebtedness,
<br /> � �ra�i:r t� rfia� �rrm�nt nf. thP M�,�rgagnr �.11 n�ymenu� made under the orovisions of Fa) of paragraph 2 hereof which the Mortgagee . � � � � � � � . �
<br /> has not become obligated [o pay to the Secretary of Housing and Urban Development and ac�y balance remaining in'the fun�s
<br /> accumulated under the provisions of (h) ot paragra�h 2 hereaf. If there shaTt be a default underany of the piovisions of this
<br /> + mortgage resulting iqa public sa2e of the premises covered hereby, or if the Mortgagee acquires the property otherwise after
<br /> default . the Pvlortgagee shall apply, at the time of the commencernent of such proceedings, or at the time the property is ot}ter-
<br /> wis� acquireci , the bztance then remain:ng in 4hz fur,ds accumulated under (b} of paragraph 2 preceding; as a eredit against ahe �
<br /> amount of prfrncipal thenremai�ii.g n�gaid under said note , and shat! properly �djust any payments which shatI have beea m�d�
<br /> under Ca} �f paragraph 2.
<br /> 4: That the Mortgagor will pay ground rents , taxes , assessments , water rates , and ather governmeri2al or municipal
<br /> charges , fines, or impusitions, for which provision has not been made hereinbefore, and in defaWt thereof the Mortgagee rraay
<br /> pay the same ; and that the Mortgagor will prompdy deliver the of5cial receipts t3ierefor to the iviortgagee.
<br /> S. The Mortgagor wiil pay all taxes which may be (evied upon the Mortgagee 's interes[ in said real estatc and impeove-
<br /> men[s ; and which may bP 3evied upon this mortgage or the debt secured hereby (but only to tla� extent that suc.h is not prohibit-
<br /> ed by law and onty to the extent that such will not rnake this loan usurious), but excluding any income tax , State ot Fede�-ai; _
<br /> imposed on Murtgagee, and will file the ofTcial receipt showing such payment w�ith the Mbrtgagee. Upon violatian of this und�er-
<br /> taking, or if t€�e Mortgagor is prahibited by any law now or hereafter existing from paying the whole or any portion oF the afare- �
<br /> szid taxes, or upon the rendermg of any court decree prohibiting the pnyment by the Mortgagor orany such taxes, or if such !aw
<br /> or decree provides that any amount so paid by the Mortgagor shall be creditad on the mortgage debt, the Mortgagee shaU have
<br /> tt�e, right to give ninety days' written notice [o the owner of the mortgaged premises , requir� ng ihe payment o£ the mortgage
<br /> debt. If such �otice be given, the said debt shall become due , paya6le and collec2ible at the exp3ration of said ninety days .
<br /> 6. That should he fail to pay any sum or keep any coven ant provided for in this Mortgage, then the Moresagee, at its ap-
<br /> tion , may pay or perform the same, and atl expenditures so made shall be added to the principal sum owing on the above naie .
<br /> shall be secured hereby, and shall bear interest at the rate set forth in the said note , until paid .
<br /> 7. That he hereby assigns, transfers and sets over to [he Mortgagee, to be applied eoward the payment of the note and at!
<br /> sums secured hercby in case of a defau3t in the performunce of any of the ter:ns aad conditions of this Mortgage or the said
<br /> note. all the rents, revenues and income to be derived from the mortga�ed premises during such time as the moatgage indebted-
<br /> ness shall remain unpaid ; and the Mortgagee shal7 have power to �ppuint any 3gent or agents it may desire for the purpose of �
<br /> repairing said ptemises and of renting the same and collecting [he rents; revenues und income, and it may pay out of said in-
<br /> comes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing t#ie
<br /> same and of collecting rentals therefrom ; the balance remaining. if any, to be applied coward the discharga of said mortgage
<br /> indebtedness _
<br /> ; S. ThaL tze will keep the improvements now existing or hereafter erected on the mortgaged property , insmred as may be
<br /> required from time to time by the Mortgagee ugainst loss by fere and other hazards , casuallies and con[ingeacies in such
<br /> amounts and for such periods as may be reyuired by the Mortgagee and will pay promptly, w hen due, any premiums on such
<br /> insurance provision for payment of which has not been made hereinbefore. Al! in 'surance st�all be carried irs compx�ies ap-
<br /> proveo by the Mortgagee and the policizs and renewals thereof shall be held by the Mortgage�e und have attact�ed thereto loss
<br /> payable clauses in favor of anci in form acceptable to the Mortgagee . In event of loss Mortgagor will give immediate nouce �y
<br /> mail co the :tiiartgagee , who may meke proof of loss if no[ made promptly by Mortgagor, an�d each insurnnce compu�y con-
<br /> cerned is her�by uuthorized and directed to make payment tor such loss directly to the Mor[gagee instead of to thc Mortgagcar
<br /> and the Mort�agee jointly , and the insurance proceeds, or any parc thereoi, may be applied by r�e Mortgagee at ats opxion either
<br /> ti� the reduction of the indebtedness hereby secured or to the restoration ur repair af the property damuged . In e vent of foreclo-
<br /> sure af this mortgage or other transfer of title ro the mortgaged property in extinguishment of tf�e indebtedness secured hereby.
<br /> alt right, title and i�terest o# the Mortgagar in and to any insurance palicies the� in force ;hall p�ss to ihe ,�urchaEer or grantee. �
<br /> 4. That as additional and collaiera! security for the payment of the noie described , and a!3 sums to oecome due under this
<br /> mortgsge, Ihe A�orT�aaor hereby assigr� to the �Sartnagee sll p:ofits, re��enues , r�ya:ties, ri�'�ts aad tsentfits ac.ruing to the
<br /> � MorCg,agor under any and all oiF and gas ]eases on said premises , with the right to receive and receipt for the sarne and appIy
<br /> them io said indebtedness as well before as after default in the cunditions of this mortgage, and ahe Mortgagee may demand. sue
<br /> for and recov�r sny such payments when due and payeble, but shall not be required so to do . This assignment is to terminate
<br /> and become nr�]i and void upoo release of this mortgage.
<br /> 10. That ihe Martgagvr will keep [he buildings upon said premises in good repair, and neither commit nor permit waste -,�, , � •
<br /> npon said land , nor s�ffe� the said premises to be used for any unlawf�l purpose. � _ ° ''
<br /> i l . That sf the premues, or any part [hereof, be condemned under the power of eminent dumain. or acquired for a pubtic � ��- `
<br /> use, the damages awarded , the proceeds for the taking of, or the consideration for sucfi acqizisition, to the extent of the full �► �
<br /> amount of indebtednes upan this mortgage and thn note which it is given to secura remaining unpaid, are hereby assigned by the �, _
<br /> � Mort�gor to zhe Mortgagee, and shall be paid forihwith to said Mortgage� to be applied by t�+e latier vn accouni of [he next
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<br /> maturinginsta�imentso[ such indebtedness .
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