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200605645 3 described herein and operate same and collect the rends, profits and income therefrom; e.:. THat at tHe ElJ'ltiElR of tHe Mettgagef tRe )3fiAeipal salaeee seet:lrtlEl Reres)' ma.)' be reamertize€l ElA t@fFfl.S ass@13tae)@ to tRe 8eeretary Elf HEll:Isieg aeEl UrbaH DllwelopmeAt, aetiRg by aHG throHgR tHe PeEleral IlelisiAg Cem.missiEleer if a partial prepa)'meRt resl:lIts ffem aR It\vafd ie eElAaeffiRatieA ie aeeElraaeee with pffi'agrapR g Rereie, Elf [rem an iRslifaRee )3aymeAt mafie ie aeeElrElaRee with )3rElvisiEles af Pafagfapn 7 Rereie, WHere tHere is Ii resl:lItiRg less efpfEljeet ieeame. 7. That the Mortgagor will keep the improvements now existing or hereafter erected on the deeded property insured against loss by fire and such other hazards, casualties, and contingencies, as may be stipulated by the Secretary of Housing and Urban Development, acting by and through the Federal Housing Commissioner upon the insurance of the Mortgage and other liabilities as may be required form time to time by the holder of the Note, and all such insurance shall be evidenced by standard Fire and Extended Coverage Insurance Policy or Policies, in amounts no less than necessary to comply with the applicable Coinsurance Clause percentage, but in no event shall the amounts of coverage be less that 80% of the Insurable Values or not less than the unpaid balance of the insured Mortgage, whichever is the greater; and in default thereof the holder of the Note shall have the right to effect insurance. Such policies shall be endorsed with standard Mortgage clause with loss payable to the holder of the Note, and shall be deposited with the holder of the Note; That if the premises covered hereby, or any part thereof, shall be damaged by fire or other hazard against which insurance is held as hereinabove provided, the amounts paid by any insurance company in pursuance of the contract of insurance to the extend of the indebtedness then remaining unpaid, shall be paid to the holder of the Note, and, at its option, may be applied to the debt for the repairing or rebuilding of the premises; 8. That all awards of compensation in connection with condemnation for public use of or a taking of any of the property, shall be paid to the mortgagee to be applied to the amount due under the Note secured hereby in (1) amounts equal to the next maturing installment or installments of principal and (2) with any balance to be credited to the next payment due under the Note. That all awards of damages in connection with any condemnation for public use of or injury to any residue of that property, shall be paid to the mortgagee to be applied to a fund held for and on behalf of the mortgagor which fund shall at the option of the mortgagee, and with the prior approval of the Secretary of Housing and Urban Development, either be applied to the amount due under the Note as specified in the preceding sentence, or be disbursed for the restoration or repair of the damage to the residue. No amount applied to the reduction of the principal amount due in accordance with (l) shall be considered an optional prepayment as the term is used in this Mortgage and Note secured hereby, nor relieve the mortgagor from making regular monthly payments commencing on the first day of the first month following the date of receipt of the award. The Mortgagee is hereby authorized in the name of the mortgagor to execute and deliver valid acquittances for such awards and to appeal from such awards; 9. That the Mortgagor, together with and in addition to the monthly payments under the terms of the Note secured hereby, will pay to the Mortgagee monthly, beginning on the first day of the first month after the date hereof and of each month thereafter until the said Note is fully paid, the following sums: a. An amount sufficient to provide the Mortgagee with funds to pay the next mortgage insurance premium if this instrument and the Note secured hereby are insured, or a monthly service charge, if they are held by the Secretary of Housing and Urban Development, as follows: Rental - Rider to Mort Reslr Mlg 09-15-04