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<br /> � 7're 11lortp�o*��ordee inoro Qally ta Ptotecl Ihe aecert�y ot ment more than fiftan(lt)days in arrears to cover the extra ex-
<br /> 'ts�a M;.rt�::,a:�r:.s: pense iatah•c3 in handling d.{ia�u.nt pay�mcuts.
<br /> !. That he will pay the indebtcdness,as hereinbeforc p�o��ided. 3. That lf the total of the{�tymeeu made by the Mort�a�at
<br /> P�ivltege is reserved to pay the debt in whole or in part on any under(b)of para�{rraph 2 precedln�shall euceed the unount of
<br /> installmeat due date. paymenta AMUally madc by the Mort��ee for around reuU.tues
<br /> and aasessments or insurance premiume.u the case may be. auch
<br /> 2. That.to�ether with,and in addition to, the monthly excess, if the loan is current, at the option of the Mort�ayor.
<br /> paymeata of pdncipal aad intaest payable under the terms oP the ahall be credited by the MonR�a on subsequeat payment�to be
<br /> note securad horeby�the Mort�a�or wiU pay to the Mongaga. made by the Mort�or, or rcfunded to the Mort�yor. If.
<br /> on the first day of each month untIl the sa9d note is fully pald. however,the monthly payments made by the Mort�or under
<br /> the followin�suma: (b)of puagraph 2 precedit�aha11 not be sufficieat to pay
<br /> (a) Amount aufflcieat to p�ovide the holder hereof wIth funds �°u�d rents.taaes and assessmenta or insurana pmaiwa�, as
<br /> to pay the neat mort�a�e insuraace premium if this iaatrument �he case msy be.when the aame shall become due aad paysble,
<br /> and the note aecured heroby ue insured,or a monthly charge(in �hen the Mortgagor shall pay to the Mon�a�ee any unouat
<br /> . /ieu of A mortjase iasvrance pnmium)lf they ue held by the neassuy to make up the deflcleacy.on or before the date when
<br /> Secrctuy of Housin�and Urbm Development. as follows: P�Y�eat of such ground rents,Uucea�assessmenta,or insur�na
<br /> premiums shvl be due. lf st any time tbe Morttajor ahall teader
<br /> (1) If and so lang as said note of even date and thls in- to the Mort�a�ee,in accord�nce with the proWsioaa of the note
<br /> strument ue insured or are reinswed under the provisions of the secured hereby, full paymeat of the entire indebtedness
<br /> Natioaal Howin�Act,an amount aufficient to accumutate in the represented thereby, the Mortgagee ahall,in computln�the
<br /> hands of the holder one(1)month prior to its due date the an- amount of such iAdebtedness.credit to the account of the Mort-
<br /> nual mortp�e lnsurance premium in order to provlde such hotder g�►sor all paymenu made under the provision�of(s)pua�rsph 2
<br /> with funds to pay such premium to the Secretary of Housing and hereof which the Mortgst�a has not become oblipted to pay to
<br /> Urban Development purauant to the Natlonal Housing Act, as ' the Secretary of Housing and Urbm Developenent aad any
<br /> amended, and applicable Regulations thereunder;or balana remaining in the funds accumulated uader the provisioas
<br /> ql) If and so long as said note af even date and this in- of(b)of paragraph 2 hereof. lf there ahW be a defanit uader
<br /> strument are held by the Secretary of Honsing and Urban �Y of the provisions oi'this morigAge t��sulting It�a public aale
<br /> ' Developmeat,st monthly charge(in lieu of a mongage insurance of the premises covercd hereby, or if the Mortgattee acqnires the . ,
<br /> , prunium)which sh�ll be in an amount equal to onatwelfth Property otherwise after default, the Mortgaga sbaU apply, at
<br /> (1/12)of o�rhalf(1/2)per anium of the average outstanding the time of the commenament of such proa�edin�,or at the � .
<br /> balana due on the note computed withaut taking in!o accr��nt time the property is otherwise acquired.the balana then remain-
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<br /> tnft in the funds accumuLted under(b)of earagraeh 2 nrece�iin,, _. ___._
<br /> - �`W~L`:=""�, �r`F�y`:"u='; as a credit against the amount of principal then remaining unpaid
<br /> � (b) A sum equal to the ground rents,if any, neat due. plus the under said note, and shall properly adjust any payments which '
<br /> premiums that will next become due and payable on policies of shall have ban made under(a)af paragaph 2.
<br /> fire and other huud insurana covering the mortgaged property,
<br /> � plus taues and assessments next due on the mortgaged ptoperty 4. 7'hat the Mortgagor will pay ground rents, taxes,
<br /> . (all as estimated by the Mongagx)less all sums already paid essessments,water rates, and other govemmental or municipa! -
<br /> ; therefor divided by the number of months to elapse bofore one charges, fines. or impositions, for which provlsion has not ban :
<br /> (1)month prior to the date w6en such ground rents, preminms. made hereinbefore�and in default thcnof the Mortgsgx may :_;i
<br /> � t�x�s and aasessments will become delinquent, such sums to be pay the same; and that the Mortgagor will promptly deliver the ;a�
<br /> i held by Mortgaga in trust to pay said ground rents. premiums. of�cial receipts therefor to che Mortgaga. —
<br /> taxa and special assessments;and
<br /> � (c) All payments mentioned in the cwo preceding subsections S. The Mortgagor wi11 pay all taxa which may be levied upon
<br /> i of this paragraph and all payments to be made under the note the Mortgagee s interat in said real estate aad improvements, �
<br /> � sccured hereby shall be added together.and the ag�regate amount �d which may be levied upon this mortguge or the debt secured � _
<br /> ' a r hereby(but oNy to the extent that such is not rohibited by law
<br /> � • thcreof shaq be paid by the Mort�agor each month in a single �d only to the extent that such will not make this loan
<br /> . payment to be applied by the Mortgaga to the following items in �urious),but excludi an mcome tax,State or Federal�im-
<br /> the order set forth: � y� ,
<br /> : posed on Mortgaga, and will file the of�cial raxipt showing �;
<br /> � (I) premium charges under the contract of insurana with such paymtnt with the Mortgaga. Upon violation of this under- i" �.±
<br /> the Sccretary of Housing and Urban Develo ment.or monthly taking,or if the Mort �'�
<br /> P gagor Is prohibited by any law now or
<br /> chuge(in lieu of mortgage iaseraaa premium), as the case may hereafter existing from paying the whole or any portion of the •
<br /> �: aforesaid taxes, or upon the rendering of any court decrce pra
<br /> ; (In ground rents. taxes,assessments, fire and other hazard hibiting the payment by the Mortga=or of any such uxa,or if " -
<br /> � insurante premiums; such law or decra provides that any amount so puid by the
<br /> , Mortgagor shall be credited on che mortgage debt.the Mortgaga
<br /> (III) interest on the note secured hereby; shal!have the right to give ainety days' written aoticx to the
<br /> (l� amortization of the principal of said note: and owner of the mortgaged premises,requiring the payment of the
<br /> mortgage debt. IF such notice be given, the said debc shall
<br /> (V) late chazges, beoome due.payable and collectible at the expiration of said
<br /> Any de�cien m the amount of such a ninety days.
<br /> cY ' ggregate monthly pay-
<br /> ment shall.unless made good by the Mortgagor prior to the due 6. That should the Mortgagor fail to pay any sum or kap any
<br /> date of the next such payment,constitute an event of default p gag�, then the Mongaga, at
<br /> under this mongage. The Mortgagee may callect a "late charge" CO°enant rovided for in this mort
<br /> not to exceed fuur ants(4�) for rach dollar(Sl)of each pay- its option, may pay or perform the same,and all expenditures so
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