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<br /> ��� 1061�5
<br /> � TI�e 11�lottsqor iA peder more fuliy to protect the securily of thc property othrrn•ise attc�dcfault, the 1�lanyagee shall apply,
<br /> tAi�Mort=aie. ��reea: at �he dmr of thc cpmmcncement of such praceedings,c�r at thc
<br /> �ime thc prc+perty is atherwise acquired, the hal�ncc then r�main-
<br /> 1. fha� he Nill pa�• the indebtedness, as herc�nhefore pru��ded. ing in the funds accumulated under(a1 oi'paragraph :preceding,
<br /> Pri�ilege is rc.ened to pa� thc debt in ��holc ur �n par� rn am es a credit against thc amaunt of priRClpal �hen �emaining unpaid
<br /> in�tallment duc datc. undcr said notc.
<br /> 2. Thal, taaciher with, and in udditian to. �he monthly 4. ThAt �he Mort;agor will pay ground rents. taxes,
<br /> pa>ments ol� principal��d�interes� payabf�e undcr �h�tcrms of ihc a�sessmen�s, water rates,and ather Qovernmental o� municipal
<br /> nole secu�o�! hrreby, the Afort�agor will pa�• to the Mor�gagec, rharge�, fines, or imposi:ions, fnr which provision has nat bcen
<br /> on 1hc first day af each manth u�til �he s�id natc is fully paid, madc hereinbeiore, and in default thertof thc �,tart�agee may
<br /> the follawin� sum�: p�y the same; and that the blortgagor wiU promplly deliver the
<br /> (+�I A sum equal to the grouod rents, if any, next due. plus thc nfficial receipts therefor to the Mortgagee.
<br /> premiums that will nert 6ecomc duc anA payable on polic�es of
<br /> fire�nd other hazud insurance covering the mortga=ed property, S. The Mortgagor will pay all taxes which may be levied upon
<br /> plus tsaes and usessments next due on the mortgaged propertX the Atortgagec's interest in said real estate and i�nprovements.
<br /> (af/as estimated by�he ,4lorrgagee)less all sums already paid and which may be levied upon this mortgage or the debt secured
<br /> therefor divided by the number of months to elapse bofore one hereby (but only to the exte�t that such is not prahibited by taw
<br /> (1)month priar to the date when such ground rents, premiums, and only to the exteni that such will not make this loan
<br /> taxes and assessments will become del9nquent. such sums ta be usurious), but excluding any income tax, State or Federal. im-
<br /> held by Man�a�ee in trust to pay said ground rcnts, premiums, Posed on Mortgagee, and will file the ofGcial rcceipt showing
<br /> taxes�nd special assessment�;and such payment with the Mortgagee. Upon violation oP this under-
<br /> taking, or if the Mortgagor is prohibited by any law now or
<br /> < (b) All paymrnu mentioned in the precediag subsection hereafter existing f�om paying the whole or any pottion of ihe
<br /> of this paragraph and all payments to be made under thc noie aforesaid taxes, or upon the rendering of any coutt decree pro-
<br /> srcured hereby shal) be added togeihe�, and the aggregate amoun� hibiting the payment by the Mortgagor of any such taxes. or if
<br /> thereof shall be paid by the M1longag�r each month in a single such law or decree pra�ides that any amount so paid by the
<br /> payment to be applied by the�+torigagec to the folfowing items in �fongagor shall be credited on the mo�tRa�te dcbt, the Mangagee
<br /> the order sa forth; shall ha�•c the right to give ninety days' Kritten notice to thc
<br /> (!) graund rents, taxes, assessments, fire and ather hazard �µ'ner of the mortgaged premises, reqairing the payment c�F the � .�
<br /> insurance premiums; mortgage debt. If such notice be given, the said debt shall ' '
<br /> i,�:
<br /> become due, pavable and collectible at the expiration of said '
<br /> 111) intetest on the note secured hereby; ninetp days. � �`�"
<br /> (Ill) amortization of the principal of said noie: and 6. That shoutd the MortgaROr fail to pay am'sum nr k�� an �'���`
<br /> `S'r' �°""�°i�r'• cor•enant provtded for in this rttortgagt. then the Mongagee at Y _
<br /> Any defciency in the amount of such aggregate monthly pay- �ts c�ption, may pay� or perPorm the same, and all expenditures so
<br /> ment sfiall, unless made good by the 1�lortgagor prior to the due madt shall be added to the principal sum owing on the above
<br /> date of the next such payment, constitute an event of default note.shall be secured hereby, and shall bear interest at the rate
<br /> under this mongage. 'fhe Mortgagee may collect a "late charge" set Eorth in the said note, until paid.
<br /> not to exceed four cents (4�) for each dollar(S1) af each pay-
<br /> ment more than fiftan (15)da�s in arrears to cover the extra ex- ' That thr�tortgagor hereby assigns,transfers and sets over
<br /> pense inti•alved in handling delinqutnt payments. to�he�fortgager�to be applied toward tha payment•of the note
<br /> , and all sums secured hereby in case of a default in the perfor-
<br /> 3. That if the total of the payments made by the Mortgagor mance of any of:he terms and conditions of this mortgage or the
<br /> under(a)of paragraph 2 preceding shal!exceed the amount of said note,all the rents, revenues and income to be derived from
<br /> paymenes actually made by the Mortgagee far ground rents,taxes the mor.tgaged premises during such time as the mortgage in-
<br /> and assessments or insurance premiums,as the case may he, such debtedness shalt remain unpaid, and the Mortgagee shall have
<br /> excess. if the loan is current, a� the option of the Mortgagor, PoWer to appoinc any agtnt or agents it may desire for the pur-
<br /> shall be credited by the Mortgagee on subsequent payments to be P°se of reQai�ac�g said premises and of renting the same and col- �:
<br /> made by the Mortgagor, or refunded to the hiortgagor, if, lecting the re�rts, revenues and income, and it may pay out of � .
<br /> however, the monthly payments made by the Mortgagor under said incomes all expenses of repairing said premises and necessary °-
<br /> (a)of paragraph 2 preceding shal! not be sufficient to pay commissiors and expenses incurred in renting and managing the f''�
<br /> ground rents, taxes and assessmenxs or insurance premiums, as same and oP roltecting rentals therefrom; the balance remaining, ' �'
<br /> the case may be, when the same s4�a11 becomt due and payable, �f any,to be apptied toward the discharge of said mortgage
<br /> then the Mortgagor shall pay to the Mortgagee any amount �ndebtedness. •
<br /> necessary to makt up the deficiency, on or before the date when -
<br /> payment of such taxes.ground cents, assessments. or inse,rartce 8• That the tiortgagor will keep the improvements now ex-
<br /> premiums shall be due. !f at any timt the Mortgagor shall teRder �sting or hereafter erected on the mortgaged property,insured as
<br /> to the Mortgagee, in accotdance with the provisions af the note may be required from time to time by the Mongagee against loss
<br /> secured hereby. full payment of the entite indebtedntss by fire and other hazards.casualties and contingencirs in such
<br />_ repraented thr:eby.thr Mortgagee shaif, in computing the �mounts and for such prriocis as may be reyuired by ihe Mor-
<br /> amount of such iadebtedness,credit to the account of the Mort- tgagee and wiU pay promptly. when due, any premiums on such
<br /> gagor any balance remaining in the funds accumulated under the �nsurance provision fvr payment of which has not been madt
<br /> provisions of(a)paragraph 2 hereof. If there shall be a default hereinbefore. All insurance shall be carried in companies approv-
<br /> under any ot'the provisions of this mortgagt resulting in a public ed by the Mortgagee and the policies and renewals thereof shall
<br /> sate of ihe premises covered hereby,or if'the hlortgagee acquires be held by the Mortgagee and have attached theretu loss payable
<br /> � HUD-921�3M•1
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