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<br /> 111 If and su lung u� aaiJ note nf <v<n datc anJ Ihis in>tmmcN ar< insured or :uc minswed undcr �he pruviaions ol Ihr Naiional Housing Acl, �n
<br /> amount sul5cicn1lo accumulalc in �hc hand� ol Ihe hulder one ( U momh priur to i�s due Ja�< ihe annual monKage inwrancc pumium in order �o
<br /> � p�ovide such hulder with fund> m pay euch pr<mium tu �he Srcrclury ol lluusinganJ U�han Devdopmenl punuam to thr Nutional Ilousing Act,
<br /> � a� amended, and applica6le HcRulatums Ih<r<undcr, nr
<br /> ' � r 1111 If and so longns seid note o( even date and �his inelmmenl arc held by' Ihe Secr<lurp o( Housingand Urhan UcvolapmenL a mnmhlY �harge lin � .
<br /> I litu u! a mungape imurantt pamium� which shall lx in en amouN eyunl to onetxelflh 1111 :) uf onchal( 111'-1 per cen�um of Ihe aver�ge oul-
<br /> slanding halance Jue un Iht note compnkd wi�houl luking inw accnunt delinyuenaee or prepaymenls:
<br /> IM A eum equal lo Ihe y,round rtms, i( any. nu� due, plus Ihe premiums Ihat w�ill neKt becum< duc and pnyahle nn M+licies uf fire and nther hat�td imuranc<
<br /> � � covering Ihe mongeNed prupeny, plus Ia�es and as�eismrms nexl due on the mongeged pruperty lall as eslimaled by ihe AlnngageN lass yll sums al-
<br /> ready paid Iherefordi�ided by Ihe numbero( momhs to rlapx lx(ore one mnmh prim tn the dale when wch ground rents, premiums, tsxes and essess� �
<br /> � memi will hecome delinquem, such sums lo be held by �fon6++8« �n Irus1 io pay uid ground renls. premiums, laa<s and sp<cial assessments; und �
<br /> - � !U All p�qments mentiuned in �he Iwo preceding wbsecuuns of this paragraph und all papmrn�s �n be maJe under Ihe note securtd hercAy shall l+e added
<br /> � �ogelher. and tht aFPepate amount Iherrof shall he paid by �he �lorlgagor each munth in a �ingle paymem lu he applied hy Ihe MorIR�Bee tu ihe (olloN�- .
<br /> ing ilcros in Ihc urdcr se1 fonh:
<br /> 111 premium charges under the contract u( insurance wi�h the $ecroWry n( Huusing anJ Urban IRv<Iopmem. Or mnmhly charge lin licu of murlgnge , .
<br /> insurance premiuml, ae ihe rase may be;
<br /> 1111 grounJ renls, lnree, essessments. fire and o�her hazarJ inwrance promiume; '
<br /> � 11111 inlerestnnthe nole secured her<by: anJ �
<br /> . iil') nmortitationohheprincipalufeaidnote. �
<br /> Any de�ciency in the amoum o( any such age«eate mumhl}' pa}'menl shall, unlas m�de f��od by Ihe Alortgaqnr prior �o th< due Jute o� Ihe nexl such
<br /> � payment, conslilu�e an ecem u( defauh under this mun�ge. ih< MnrtgaF« may colleci a "late .harge" noI In exce<d Iwu c<nts CCI for each dollar ISh �
<br /> . nf each C+>'ment morc �han 611een USldays in arcars to cover 1he exlra eipcme inrnh�ed in handlingddinqucnt payments.
<br /> 1. That i( the [olal of the pxyments made by thc M1lortgxgor unJer ( bl of paragraph ? preceding shall exceeJ the amount of
<br /> : payments actually made by the �lortgagee for ground rents, taxes and assessmeNs or insurance premiums, as the case may be ,
<br /> such excess, at the option of the btortgagee , shall he credited by �he Atortgagee on subseyuent payments to be made by the
<br /> Morigagor, or refunJed to �he Atongagoc If, ho�cever, the mon�hly paymems made hy the �tortg.igar under Ibl o( p�ragraph ?
<br /> preceding shall not be suliicient �o pay ground rznts , taxes and assessmen[s or insurance premiums , as the case may be, when
<br /> ihe same shall become due and payable, than the �fortgagor shall pay to thc �fortgagee an�� amount necessary to make up the
<br /> deficiency, on or hefore ihe date �chen paymeni of such ground rems. tares , assessments or insuranee premiums shall be due. If
<br /> ai any time the Morigagor shall icnder to the �tortga@ee, in sccordance with the pro� isions of ihe noce secured hereby. (ull
<br /> paymem of Ihe entire indebtedness represented �herebp, ihe �tortgagee shall , in computing �he amount of such indebtedness.
<br /> credi� to the account of !he A1onFagor all paymems made under the provisions o( 1a10( paragraph Z hereo( which Ihe Atortgagee
<br /> has not hecome ohli�ted to pay to the Secretar}� uf Housine and Urhan Development anJ any balance remaining in the funds
<br /> accumuL�ted under the pro��isions of (hlof paragraph Z hereoL If there shall be a Jefault under any of the provisions of this
<br /> mortgage resulting in a public sale of the premises coeered hereh}�, or if �he 1lortgagee acquires the properly oiherwise a(ter
<br /> default , �he Mortgagee shall :ipply . at ihe time o( the commencement of such proceedings, or at the time the property is o[her-
<br /> wise acquireJ. the balance ihen remaining in the funds accumulated under Ih) o( paraeraph 2 preceding, as a credit against the
<br /> amount of principal then remaining unpaid under said note , and shall properly adjust any payments which shall have been made
<br /> under (a) of paragraph 2.
<br /> 4. That ihe �lortgagor « ilt pa}� ground rents. tasas, .+ssessments, water rates , and other Fovernmemai or municipal
<br /> charges, fines . ur impositions. for which proeision has not heen made hereinhe(ure, and in Jef.iult thereot the Mongagce may
<br /> p�q� Ihe same ; and that the Alortgagor w ill promptly deliver �he uliicial receipts therefor to thr bfongagee.
<br /> 5 . The �fongagor will pa} all t�ixes Hhich mac be lavird upon the Atortgagee's interest in said real estate and improve-
<br /> menis, �md which mat• br le�•ieJ upon �his mortg;ige or the debt secured herehy Ibut only to the extent thai such is not prohibi[-
<br /> eJ bp Ixw and only to the extent that such uill not makc thic luan usuriousl, but e�cluding :my incume tax . State or Federal.
<br /> p imposed on �longagee , anJ uill file �he u(ficial receipt showing such paymem with the Alortgaeee . Upon violation of this under-
<br /> takinF, or if ihe Alortgagor is prohibited by any la�e nuu or herea(rer existing (rom paping the u�hole or any ponion of the afore-
<br /> said taxes , nr upun �he renderinF oF an} court decree prohibiting �he payment by the 6lortgagor or any such taxes. or if wch lau'
<br /> or decrze prorides that any amuum so paiJ b� the Uortgagor shall he crcdited on the mortgage debt , ihe Mortgagee shall ha�'e
<br /> the right to @ivr ninett d:ps' uriuen notice to the u�� ner uf the murlFaged premiscs, reyuiring ihe pa} mem uf �he morlgace
<br /> c Jcbt . I( such notice be given, ihe saiJ JeM sh.ill become due, payable and collectihle at �he expiration ot said ninety dacs .
<br /> + h. Tha� shuuld he fail tu p:+y any sum nr keip any cocenant proviJeJ for in thi� Atortgage. then the '.tortgagee, at its op-
<br /> tion , may pay or prrtorm the same. anJ all eaprndiWres su maJe shall he adJed Io lhe princip�al sum uwing on the ahove note.
<br /> tihall be secured herehq , and �hxll bear in�ercst at the r.ue ut fonh in the saiJ note, until p�iJ .
<br /> Z That he hereb} :�ssigns, v.ms(ers and �ets o�'er tu ihe !�tonEagee, iu be applied �o��'ard thc paymem of �he note and �II
<br /> ,ums secureJ hereby in c;isz uf a deG�ult in the prrformunce ut any o( the terms and conditions o( this M1forigage ur �he saiJ
<br /> t' note, all the rents, rccenues and incomr to be derived from ihr mort�+aged premises Juring such time as the morlgage indebted-
<br /> r ness sh:�ll remain unp;�id ; and ihe 9longagee shall hace pou'er to appoint any ��em or agents it may desire (or the purpose of
<br /> ' repairing Ssid prcmises and u( renting �he same :md collecting the rents , revenues and income, anJ it m;�y pay out of saiJ in-
<br /> j comcs all espenses of rtp�iring said premises and necessary cummis�ions and expensts incurred in renting xnd m�maging �he
<br /> i �ame anJ uf collecting rentals therefrom ; the balance remaining, if any . �o be applied tou arJ the Jischurge of said mortgagc
<br /> ; indebtedness.
<br /> H. "ihat he H'ill kezp thc impruvemcros nuw c �iti�ing or hercafter crectcd on the murlgaged property , insured us maq bz
<br /> reyuired frum time to time by� the \longagee aEainsi lo+s hy (ire ;md oiher haiards, cawalties and contin�rncies in such
<br /> ;imounts and fur such periods :is ma> he reyuired bg the �lurtgagee anJ u ill pa} prompdy, �� hen duc , an} premiums en such
<br /> in�urance provisiun (or p.iymem of ahich h:u uut tren made hercinbefure . All insur.ince shall br rirried in companies ap-
<br /> pro�'rJ bq the Alortgagee anJ the pulieies :md «ne�c,�l� thereuf sh;dl be helJ hy the �lortgagee and h:we au�iched thercto lusti
<br /> p;�yablt clausrs in favor of and in (orm arceptahle to the lfongager . In event uf loss 1lortg;icur �rill giee immediate notice by
<br /> mail tu thr Atortgager. �� ho may make proo( of luss if not m�+de promptly h} �tor�gagur. and each insur.mce comp;my con-
<br /> cerneJ is herebv authorizeJ and dirceted to make payment (or such lus� directly tu the 9lortgagee instead of to the Atortgagcu
<br /> anJ the Alortg�gce juin�ly , and the insur.mct pruceeds, or.my part thereuf, map be applied by the A1or�gagee at its option either
<br /> to Ihe rcduciion uf the indeblaJness hereby secured ur to the restoration ur repair of the pruperty J;�maged . In event uf foreclo-
<br /> Sure of this mortgagr or uther irans(er of title �o thr mortgaged propeny in extin�:uishment of the indebtedness securcd hereby ,
<br /> all right , tille anJ interest of thc 1lortgagur in and ro an} insurance pulicirs then in (urce shall pass to the purch�ser ur grantee.
<br /> 9. Tha� as aJditiunal anJ cuilateral xcurily for Ihe paymem of the note JexribeJ . and all sums to hecume due undcr this
<br /> morlgage, Ihe '�fongagur hrreby assigns to ihe �tortgagze :+II prufits, revenues, roy :d�ies , rights and benefits accruing to the
<br /> 5longagor under any anJ all oil und gas leaxs on said premises , uith the right to receive anJ receipt for the same :�nd xpply
<br /> them Io saiJ indebledness as uell bnfore as after default in thz conJiiions nf this mnrtg:age , .lnJ the AtorlKaFee may Jemand , sue
<br /> for and reco� cr ant such papmen�s a'hen due anJ p�> able , bu� shall nut be reyuired tio to do. This assignment is to terminate
<br /> and become null and void upon rele�ise o( �his mongage .
<br /> 10. 'ihat the �longagor will kcrp the buildingi upon said premises in good repair, anJ neither commit nor permit was�c I _� .
<br /> upon said land, nor suHcr thc said premises lu be used for any unlaw(ul purpuse . • -
<br /> I1 . 1'hat i( the premius, or �ny part thercot. t+e cundemned under Ihe po�ver of eminem dom:iin. ur acquired (or :� public N -
<br /> t use , the damages aHarJed , the proceeJs fur the �aking uf. or the cunsideration fur such ucymsi�iun , to the eVem u( thz full �
<br /> Lnmount of indeb�ednes upun �his mort�;ige anJ the nore �� hich it ic gi� en Io �ecure remaining unpaiJ , arr herehy a>signeJ by ihc
<br /> �fortg:igur to the Afong:�gre, and shall be paiJ fonMrith to r.�id !�fortFagee w he ;+pplied b} ihe lutter on arcuunt uf the next �'
<br /> maturing installmenK u[ Such indebleJness . �
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