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<br /> 111 I( und su long us said wte uf crcn date anJ this inatmment arc iusweJ ur are rcinswed undcr Ihc p�ori�ions ul �hc Nniional Huuaing Ac�. an
<br /> umuunt sulOcienl lu accmnulale in Ihe hanJs ul lhe LulJcr unc ( 11 month priur lu ils Juc Jule Ihc annuul nwngage insurunce p�cmium in urder tu
<br /> pruviJe mch holder with funds lo pay such prcmium tu Iht Seaelap' ul Nou>ing and Urhan fhvclopmeN pwsuum lu 1hc National Nuusing An,
<br /> ae amcnJcd, and applicnble Hegulatiuns Ihc�cund<r, ur
<br /> � 111) If und so �ong us wid nalc uf even date end �his inslmmcN are held by Ihc Sccrclap� u( Huming und Urbun Ikvelopma�l, e munlhly charg< fin
<br /> licu of u morlgagc insurance prcmium) whi[h shall be in an �unount ryual W onrtwcllth (11121 uf unc�hal( ( 1/21 Mr ttnWm of Ihe nvcrapc out�
<br /> st�nJing halance due un thc nute cumpuleJ wilbuW laking inW ncrounl dcliuyuencics or prepuymcnls;
<br /> � 161 A sum eyual lu Ihe ground «nls. if any, nexl due, plus Ihe premiwns Iha1 will next bccumc Jue anJ payable on �nrlicics ol firc anJ ofhrr hatard insutance
<br /> corering Ihe mongagcd Orupeny. plus lexes anJ assessmenu ncxl Jue on thc mnrl�gcJ proD<ny lall as cstimalcd by lhc Atnngugee) Icss all fums a4
<br /> «ady paid �haefur divided by Ihe numberof munths tu elapse before one munlh priut lo Iht date xhen such gtounJ rcnis, premiwns, taxtc anJ asseis�
<br /> mcnts will become dclinquenl, such smns to !z helJ by Mongugce in tmsl ro pay naid gruunJ renls, premiwns, laxes anJ spaciul afscssmcnls: unJ
<br /> (ri All pay'mrnts mentioned in lhe Iwu preccding wbsectionn uf Ihis parugraph und all paymenls lo be made under ihe nule sceured hereby shnll lx addcd
<br /> � WSether. xnd Ihe agpfegate emuunl thereof shull be pnid by Ihe MonRegur each momh in u single paymrnt lo tu applied by Ihe Mongapee lu Ihr (ulloW�
<br /> ing ilcmx in Iht oNcr set lonh:
<br /> 1 � pl prcmium char6es und<r �he conuuel o( insur�nce wilh Ihe Sectelary n( Housing and Urhan Ikv<Iupmenl. 0� monthly charge lin lieu uf murl�ge
<br /> � insurunce premiuml, as the use may be:
<br /> (Iq gruunJ rcnls. laxes, ussessmenlf, fire und ofher hatarJ inwrance premiums;
<br /> IIIp iNercst on Ihe nok ucurcJ hercby; and
<br /> II V) �motlirntion uf the principal of xaid nute.
<br /> - Any Jeficiency in Ihe amuuN u( any such n5�rcgaie momhly payment shall, unless made R��od by Ihe Aluny,ngor prior �u Ihe due date of Iht nez� such
<br /> � paymenl, conslilWe an evem of defaWt under Ihis murlgage. 'Ihe AlonFugee may cull<ct a "lale charKe" nut iu axtted Iwu cenls Ri) fur each dullar (SI I
<br /> � of each paymeN more Ihun fifleen ( IS/ Jays in arear5lo cuver thz utra eRpense inroked in hundlingdeiinyueni puymenls.
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<br /> 3. That if the total of lhe payments made by Ihe Atortgagor under 1 bl of paragr.iph 2 preceJing shall exceed the amount o[
<br /> � paymems actually made by the Mortgagee tor ground rents, t.ixes anJ assessments or insurance prcmiums, as the case may be,
<br /> such rxcess, at the option ot the htortgagee, shall he crediled by !he M1tortgagee on suhsequent payments to be made by the
<br /> Mortgagor, or refunded to the Mortgagor. If, however, the mm�thly p�yments made by the \lortgagor under !h) of paragraph ?
<br /> preceding shall not be sufiicient to pxy ground rents, taxes anJ assessmen[s or insurance premiums, as the case may be, when
<br /> Ihe snme shall become due anJ p�ryabic , lhen �he Mortgagor shall pay tu the A1ongagee any amount necessary to make up the
<br /> Jeficiency, on or before Ihe Jale when payment of such gruund rents, taxes , assessments or insur.�nce premiums shall be due. I(
<br /> at any Iime the Alortgagor shall tender lo the Alortgagee. in accordance with the provisions o( the note securrd hereby. (uli
<br /> paymcnt of the entire indebtedness represented therehy, the Afortgagee shall, in computing the amount uf such indebteJness,
<br /> credi� to the account of Ihe Mortgagor all payments made under the pro�•isions of lal u( paragr.�ph 2 hereof ���hich the Mort�gee
<br /> has not become ubligated Io pay to ihe Secretary of Housing �mJ Urban Development and any b�d.mce remaining in [he (unds
<br /> accumulated under the provisions uf (6) of paragraph 2 hereoL If there shail he a default under any of the provisions ot �his
<br /> mortgage resulting in .� public sale of the premises covered hercby. or i( the �1urtgagee acyuires the property otherwise after
<br /> Je(ault, the Mortgagee shall apply, at �he time ut the commencement of such proceedin�s, or at ihe time the property is olher-
<br /> wise .�cquired , ihe balance then remaining in �he funds xccumula�eJ under Ib) of paragraph 2 preceding, as a credit against the
<br /> amount of principal Ihen remaining unp�id under said nute, and shall proprrly adjust any payments which shall have been maJe
<br /> unJer (a1 of par.igraph 2.
<br /> 4. That the Mortgagor will p��} ground rents, taxes, assessmems , water ra�es , and o�her go��ernmental or municipal
<br /> charges, fines. or imposi�ions, for ���hich pru��ision has not bcen made hereinbefore , and in default thereof the Mortgagee may
<br /> pay ihe same: and tha! the M1lurtgagor will prompdy deli��er �he uflicial receipts theretor to the �1lortgagee .
<br /> 5. The Alorlgagor u•ill pay all taxes a•hich may be levied upun Ihe Aiortpagee ' s interest in said real estate and improee-
<br /> menis, and which may be levied upon Ihis mor�gage or Ihe dent secured hereby (but only to the ex�ent that such is not prohibit-
<br /> zd by law and only to thc extent that such will not make this loan usuriousl, but exduding any income tax , State or Federal .
<br /> imposed on Alortgagee. :md will file �he o(rcial receipt showing such payment with the Afortga@ee . L'pon violation of this under-
<br /> taking, or i( �he �1ortgagor is prohibited by ;my lak nou ur herea(ter existing frmn paying the whvle or any poruon o( the afore-
<br /> 'r. caid taxes. or upon the renJerinF u( any cnurt decree prohihiting the p.iyment by the 1lortgagor or an� such taxes , or if such laa
<br /> ur Jecree provides that ant� :+mount su paid bp the Atortgagor shall be credited on ihe mortgage Jebt . the Mortgagee shall have
<br /> the right �o give nine�y days' written notice tu the ou ner ot thc mnrtgagcJ premises , reyuiring Ihe paymem of the morlgage
<br /> debt . If such no�ice bc given , the said debt shall beromr due. payahle and collectible at the espira�iun of saiJ ninr�y Jays.
<br /> 6. 'ihm should he tail to paY any sum or keep any� covenant pruvided fur in this A1urtgage . �hen the t�lorigagee , at its op-
<br /> iion , may pay or per(orm the same. :mJ all expenJitures �o madc shxll he adJed tu Ihe principal sum uµ ing un the above note .
<br /> ; shall be securcd hereb}•, and sha!I bear intercst at ihe rate set (orth in ihe snid nute, until paid .
<br /> 7. That hc herehy assigns, tr,msfers and sets orcr ro the Mort�age�. ro be applied towxrd the payment o( the note :md all
<br /> ,ums secured hereby in cxsr of u def.�ult in the perfurmnnce o( any of �he terms :ind conJitiuna o( this Sfongage ur the said
<br /> note. all the rents. revenues and income w be derived frum ihe mungaged premises during such time as the mortgage indeb�zd-
<br /> ness shall rem�in unpaid ; and the hfortgagte shall h:�� e power to appoint :my agent or agents it may desire for ihe purpo+e ut
<br /> repairing said premises and o( renting the same and collccting the rems, rc� cnucs anJ income , anJ it ma} pay out of said in-
<br /> comes all expenses of repairing said premises .ind necessary commissions and exprnses incurred in renting and man;�ging �hc
<br /> �ame .md of collecting renlals therefrom ; the balancr remaining, if any, to be applied towarJ the Jischarge uf taiJ mortgage
<br /> indehtedness.
<br /> R. That he will kcep Ihe impruvements now exis�ing or herea(ter erected un th� murtEaged property , insured a+ may be
<br /> rcquireJ frum time to time hy the A1ortg:�Eee againsl loss h� fire and other haz.uJs , casualties nnd contingencics in such
<br /> amuunts and for such perioJs ��s may he reyuired bq the �tungager .inJ �� ill pa} prumpUy . �� hcn Jue , :my premiums on such
<br /> intiurance pruvision (or p;i} ment of which h:u nut heen maJe hereinbe(ore . All in,urance shall be carried in companies ap-
<br /> pro� ed by the !�lortgagee and ihe pulicies and renew.ds therrut sh:dl be held b> thr �furtgagee and ha� e au;�ched thzreto loss
<br /> pa} �ble clauses in favor of and in furm ,iccept.ihie w the lfortgagee . In crent uf luss �turt�agor « ilI gi� e immeJiaie noUce by
<br /> rn:iil to lhe Dlurlgagee . �� ho may make proot uf loss if nui made prompNy by 11or�gagor, and each insurance compan> con-
<br /> cerneJ is hereby authorized :�nJ dirccted tu make payment for such lo,ti direcUq to the \torigagee instead o( to Ihe !�tortgagor
<br /> anJ the btortgagee jointly , and the insurance proceeds , or an}� part thcreof, m�y be �pplied by Ihe �1orlgagee at its opiion either
<br /> tu the reduction of the indebtedness hereby secured ur tu thc restur.uiun or rep:iir of �he property damaged . In cveni o( foreclo-
<br /> ,urc of this mortgage or other tr.msfer o( title tii the mor�g:iged propert} in ex�in�:uishmcnt ot the indehledncss secureJ herebt .
<br /> all ri�ht , title and interest o( �he �lurtgagor in :md to any insuranct policies �hen in force sh;ill p:ns to the purcha�er or grumee.
<br /> 9. That as additional und collateral securi[y for the pa>'ment ut the nute described , anJ all sumti to brcnme duc unJer ihis
<br /> mongage. thc Mortgagor hereby assigns to thc lfurtgagee all profi�s, re� enucs , ro} altic, . riEhts and henelits neeruing tu ihc
<br /> \tongagor unJer any :mJ ;dl oil and g�is Icasrs on said premi�c+, � ith thc right tu recei � r and reccipt (or the c�me anJ apply
<br /> them to said indebledness as well before as a(ter de(ault in the conJitions of this mort�;age , anJ the Afur�gagec m:ip Jem;md , sue
<br /> 4 for and recover any such payments when duc and payable . bW shall nat be reyuireJ su tu do. 'This ;usignment is �0 lerminaie
<br /> � :md become null and void upon rcleasc of this murtgagr.
<br /> = 10. That �he Alortg�gor will knep ihe buildings upun said premiscs in gouJ repair. :md ncithcr commit nur permit uaste
<br />_ upon snid land, nor sufier �hc suid Premises to bc used tor any unlawful purpose.
<br /> I i . That if the prcmises, or any part therec�L be condemned under the poaer o( emincnt Jomain , or acyuired (ur a p�blic
<br />�e use, the dxmages awardeJ , the proceeds for the taking of. ur the considrration (or such acyuisition . In the exrem o( the full � �y .
<br /> amount ut indebtednes upon this mongage and the note w hich it is givcn �o securc remaining unpaid , are hereby ;issi�:ncd by the �
<br /> 9fongagor to the Mortgagee. anJ shull be paid (oriMcilh to said Aior�gagee tu be �pplied b> the latter on accuunt of ihe nest �
<br />�;i � m:rturing inswllments of such indebtedness. �` '
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