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<br /> �`''�'' �^�� UI If ond so bnµ ns aaiJ nme uf even dale and Ihi> nt.t:,,veni urc insureJ or are rcinsured unAa Ihe provisiuns nt Ihe NulionW Huusinp Acl, an
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<br /> �`,I� tlI110U0I5U��l'ICIII �0 ]CC00111�8IG 1111�I1' �18111�5 U� I�IC hU�dt( OIIC 1 �) Il1011(h �If10t 10Ib �IIG l�dll I�f JOOUX� IIIOfIFJ[(f IIISpIL�Ct �1fC111N111 III Uf�<f IO
<br /> � �a1�� provide snch hulder a�i�h tunds lo pay sucb prcmium tu �he Secrrlary of Hominq anJ Urbun I�evelopmcnt punuanl lo Ihe Natiunal Houting Act.
<br /> �`S ae amendcJ. anA epplicablr RsFulatiuns Ihcrcundcr, nr
<br /> q I pp if nnJ w lung es sniJ nute of even Jate enJ Ihis inslrumvnt are held by Ihc Sarelap� nf Hnusing nnd Urb�m Ihrclopmenl, a munihly churge (in
<br /> liru at u mongage imurance premiuml which shull bt in an amuuni eqcul �u onetwdflh U/I:1 of onr�half 111:1 per «ntum o( thc avarage uu1-
<br /> ;y� sianding bulance Jue ��n Ihe nule compWed wiUwul �akin@ intn accuunl dclinqucncicx or prrpuymenls:
<br /> `' . Ib) A sum <qunl lu Ihe ground renls, if nny, nezt Jue, plus Ihe premiums thal a'ill nexl hecume duc and pnyuhle nn pdicitt ol firr and olher harard insurance
<br /> covering Ihe mnr�gugeJ properly, plus lezn und nssessmrnts nexl duc on Ihe morfqaged p�openy Iall as cstimaleJ by th< MorIF�N«) ��+s all sums al-
<br /> � reaJy puid Ihen(ordividcd by Ihe numberuf mnnths lo elapse lx(ore one mnnlh prinr lo Ihe Jate e�hen such plound reNs, premiums, laxes and assus-
<br /> menls will Fecome delinqutnt. such sums to bc hcld by Mon6egce in trust tu p�ry said gruund mnls, prem�ums. tnses and special asseasm<nts: and
<br /> � (cl Ail paymenls menlioneJ in the two prcceding se6sectiuns af this puragriph nnJ all paymcnts lo bc mnde undct Ihe nole secured hertby sh:dl be udded
<br /> IoRelher, and Ihe aggrega�e nmomil Ihereof fhall t+e p�id by Ihe �lungugor e:ich muNh in ,v xingle payment In be applieJ 6y Ih< Mnrtgagc[ lu ihe (nilaw-
<br /> ing ilems in lhe urder se1 fonh:
<br /> U) premium charget under Ihe cunituct nf inairanc< uith Ihe S•crelarp o! Hwning xnd Urhan Ikvelopmrn40f rnomhly charge lin lieu uf rnorlN+�6e
<br /> � ? , insurance p�emium), as Ihe cose may be;
<br />� , .. Ilq Eround rmu. �xzes. assessmenls. fire and oiher hniarJ insurance premiums:
<br /> i UII) inlrresl on Ihe no1< sccurcJ hereby; nnd
<br /> II VI amoriizalian uf Ihe principal of wid nale.
<br /> Any deficiency in Ihe amuum ot any su<h aggrcgate monthly Oaymenl shall. unless made gnod by Ihe MonSagor prim lo IAc due dale nt the nexl xuch
<br /> payment, constitule an evem of de(ault under �his murtgage. The Mongugec may culiect a "hrte chargd' no! �u eztteJ iwo cenin Q¢l for wch Jollar (SI I
<br /> u( cach paYmenl more ihan Gf Inn I I S) day� in arexn tu cuver Ihe eztra expense involred in handling delinyucnl pnymenle.
<br /> 3. That if ihe total of Ihc paymenis m:ide by the Mortgagor under ( h) of paragraph 2 preceding shail excecd the amount of
<br /> payments auually maJe by the blortgagee for gruund ren�s, taxes and assessmems ur 'tnsurance premiums, as the case may be,
<br /> f such excess , at the option of the Mortgagce , shall be credited 'ny the M1tortg:igee on suhscyuent paymenis to be made by the
<br /> Mortgagor, or rcfunded to the hfortgagor. If, however. the monthly payments made by the Atongagor undzr (h) of p�ragraph '_
<br /> ;: preceding shall nut be suflicient to pay ground rents , Iaxes and assessments or insurance premiums , �s the case may be, when
<br /> the same sh;dl become due and payahle , then the Mor.gagor shall pay to the Mortgagee any amount necessairy to make up the
<br /> de(iciency, on or before the dale when payment o( such ground rents. :;ixes , assessments or insurance premiums shall he due. H
<br /> � :rt :my time Ihe Mortgagor shall tender to the �tortgagce, in accordance with the provixions of the note secured hereby. full
<br /> { payment of 1he entire inJehteduess rcpresented thertby. Ihc Mortgagee shal! , in cumputing the amount of such indebtedness,
<br /> credit to iha �:count of ihe Mortgagor all payments made under lhe provisions ot (a) of paragraph "' hereot which the Mortgagee
<br /> has not become ubligated to pay to [he Secretary of Housing and Urb�{n De�•elopmcnt and any balana: rcmaining in (he [unds
<br /> accumul.:ted undtr the provisions of (h! e( paragraph _' hereof. If there shnil be a defaul! under �ny of the provisions of this
<br /> i mortgage resulting in a public sale of the premises covered hereby, or it the blortgagee acquires Ihe property othenvisc .dter
<br /> default, the Mortgagee shall apply, at the time of the commencement of such proceedings , or at the time ihe property is o�her-
<br /> «�ise acyuired, the balance then remaining in tF�e funds Accumulated under Ibl of puragrapn ? preceding, as a credi� against Ihe
<br /> � I!, amount o( principal then remaining unpaid under said nute, and shall properly :�djus� any payments which shall have been made
<br /> unJcr !a) of para�raph 2.
<br /> � 4. That ihe �lortgagor will pay �round rents, ta�es , :issessments , water rates. and other governmental nr municipai
<br /> charges, fines , or impositions, tor wh�ch �rovision has not been made hereinbefore , :+nd in default thereuf the M1tartg.�gee may
<br /> pay the same; and thai the �tortgagor µ ill promptly deliver the ollicial receipts iheretor to thz �lortgagee.
<br /> 5. "Che blortgagor will pay all taxes which may bc le�-ied upon the Mortgagee 's interest in said real esr.de and impro�:e-
<br /> ments , and v hich m.iy be Icvied upon this mortgage or the Jebt cecured hereby Ibut only to the zxtent th�it such i; not prohibit-
<br /> ed hy iaw anJ only to the extent that such will noi make this ivan usuriousl, but excluding any income taa , Sta�e or Pederal.
<br /> impased on nlortg:�gee, and will file the oflicial receip[ showing such payment u�ith the Mortgag_e. Upon violation ot this unJer-
<br /> taking, or if ihc Mortgagor is prohibited by any law now or hereafter ezisting trom paying the whole or any portion of the aforc-
<br /> � said tase� , or upon the rendering of nny court decree prohibiting the payment by the htortgagur or any such taxes, or if such law
<br /> or decree provides ihat any amount so paid by the Mortgagor shall be credited on the mor[g�+ge deb[, 1he 1lortgagee shall have
<br /> Ihe right to give ninety days' written notice to the owner of the morigagcd premises, rrquiring the paymem of the mortgagc
<br /> debL If such nutice be given , the said deht shall hecome due, payahl� and collectible at the expiration of said nineq� days.
<br /> 6. That shoulJ he faii to pay .my sum or keep �my covenant provided for in �his �fortgage , then the �fortg�gee. at its op-
<br /> tion, may' pay or perform the same , and all cxpen�iimres so made shall be added to the principal sum oµ'ing on Ihc ahove nute,
<br /> .hall be secureJ hcreby, and shall be��r interest a� the rate set forth in �he said note. until paid.
<br /> 7. That hr hercby assigns , trans(crs anJ sets over to the Alnrtgagee. to be applied toward ihe payment n( the nute and ail
<br /> sums securcd hereby in case uf a Jefault in tht performance of �ny of the terms anJ cnndi�ions o( �his Alortgagc or the said
<br /> ' note , :�II Ihe rents. rovenues and incume ta be derived from the mm tgaged premises during wch timr as the morigage indebted-
<br /> ness shall rcmain unpaid : and thc Mortg.+gee shall have power to appoin[ any agent or agcnts it ma}� desire for ihe purposc of
<br /> rcpairing said premises and of renting �he s.�me and collecting thc rents , re��enucs and income, anJ it m.ry p:iy ou� nf said in-
<br /> comes all experses of repairing suiJ premises and necessary commissions and expenses incurrcd in ren[ing and man:�ging Ihe
<br /> same and of collecting remals therefrom ; the balance remaining. i( any, to be applied tuward the Jischarge u[ saiJ morigagc
<br /> indebtedness.
<br /> 8. That he w ill keep the improvcments now existing or hereafter crected on the mortgaged property. insureJ as m;�y he
<br /> required from timc lo time hy ihe '�tortgagee against loss by fire and other hazarJs, c:isualiies and contingencics in �uch
<br /> nmounts :md for such periuds as may bc reyuired hy �hr Mortgagee ;md uill pay prumpUy . u hcn Jue , any premiums en such
<br /> insurance provision for payment nf �ehich has not hecn m;�Je hercinhefore . All insurancr shall he earried in cornpanies ap-
<br /> pruved by the �lorlgagee and the policie, and rene« .ds thtreo( shall be held hy the !11ong:icec and hacc :d�ached thereto lus.
<br /> pay�ahle clauses in tavor ot and in form accepiahle to the M1forigagee . In eveni of loss Mortgagor �cill give immedi;ue notice by
<br /> mail ro �he Atortgagee , who m;iy make proof of loss if not m�de prumptly b�� �tur�gagor, anJ e;ich insurancc cumpany con-
<br /> cerned is hcreby audwrized and directed to nmke payment for such luss Jirecdq to the 1lortgagce insteaJ uf m the �torlgagor
<br /> and lhe A1or�gagec jointly , and the insurnnce proceeds, or ;my part �hereof. msy bc applicJ by the �tor�gagec at its option either
<br /> �o the reduction of ihe indebtedness hereby secured or to the rectoration or repair of the property damaged . In evem of fnredo- i
<br /> sure o( this mungngc or other transfer of title io the mnrtgagcd property in extinguishment of thc indchtedness secured hcrrhy , '
<br /> all right , titic and interest ot �hc Atortgagor in :md to anq insurance policies thcn in foree tih;�ll pass to the purchascr or grantee . '
<br /> � 9. 'Phat as additional and collateral security fur the paymcnt of thc nott Jescrioed , :md ;dl sums to hecome due under this !
<br /> mun�age, thc Murtgagon c�reby assigns to thc A1ortgagee all profits , revenues , ropaltics. righk .�nd 6enefits accruing tn the
<br /> biortgagor under any and all oil and gaz leases �n suiJ prcmises, wi�h the right to receive and receipt tor the same and :ipply i
<br /> ;. r them to said indeblcdness as µ•ell hefore :, .,:cr default in the cundilions of this murigage , and the Afortgagec may demanJ , suc �
<br /> for and recovcr any such paymcnts wh �n d��� and payahlc , hw shall not bc reyuired so to Ju. 'fhis assiFnmcnt is to �cmiinatc
<br /> 0 t and become null and vuid upun relcase of this martg�ge.
<br /> o "'' ' 10. That the Afort a �or �� ill kce thc bui'din s u on said remises in guod re air, anJ nzither commit wr umit uaste
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<br /> �. ' ��5 upon said �and , nor sufter the said premises to l�e used (or any unlawful purpose.
<br /> . ""� I I . T hat i f t he premises, or any part i hereo�. be con dcmnc d un dcr t hc po« cr o t eminen t domain, o r acy u ired (nr a public
<br /> ,;,,,��,% use . thc damages a�� arded , the proceeds (o� :he taking of, or the consideration for such acyuisition , tu the exient �.�f th�� full
<br /> � � "�`,p�`�,�.%: amount of indebtednes upun this morlga�c ,-.nd ;he note which it is givcn to secure remaining wipaiJ . are hcrehy a+signcd by thc �
<br /> a���� ktortgagur tu �he Afongagee. :uid shall he riid forthwith �o saia �tortgagee to he applicJ by thc laticr on accuum of t6c ncxt i
<br /> - -�'-�._; mamring installments of such indeblcdness .
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