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<br />81- 1073'74
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<br />ment more than fifteen (1S) days in arrears to co~-er the extra e.'l-
<br />pense invoh'ed in handling delinquent payments.
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<br />r
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<br />T1Ie MorCpaOl' in ordn' more fnDy to proted tile SKurity of
<br />tIIh Mortp&e, qrees:
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<br />L That he ",ill pay the indebtedness, as hereinbefore pro~ided.
<br />Pri\ilege is resen.'ed to pay the debt in whole or in part on any
<br />installment due date.
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<br />2. That, togethe1' \IOith. and in addition to. the monthly
<br />payments of principal and intn-est payable under the terms of the
<br />note secured hereby, the Mongagor \IOill pay to the Mongag<<,
<br />on the first day of ach month until the said note is fully paid.
<br />the following sums:
<br />
<br />(a) Amount suffICient to provide the holdei' bcnof with funds
<br />to pay the next mongage insurance pmnium if tbis instrument
<br />and the note secured bet'eby au: insured. or a monthly char!e (in
<br />lieu of a mortgAge i~ pnmium) if tbey are bdd by the
<br />Secretary of Housing and Urban Oe\'dopmmt, as follo1l<s:
<br />
<br />(I) If and so long as $aid lJO(e of e\'CII date and this in.
<br />strument au: insured or are reinsuJed UDlIet' tbe pro~isiom of the
<br />National Housin,g Act. an arDOU1It SlIff'JCicnl to aroDIIuhte in the
<br />hands of the bo14tt one (I) month priot' to its due dale the ;an-
<br />nual mongage insuJranoe premium in order to pro~ilIe sum boMtt
<br />with funds to pay mch premium to the SWdaJ:)' of HOIIJIYng mil
<br />Urban Oe\'dopment pursuant to the Natio.nal Housin,g Act. as -
<br />amended. and applicable R~1ations th~ (JIf
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<br />(II) If:anil so long as said DOle of e\'Clll dale and this m.
<br />~lUIDall arc bdd by the SmdM)' 01' H~ ad Urban
<br />Oe\dopmcnt. a monthly charse (in Iku of a ~ imwuzr.m<<
<br />premium) ",mm shall be in an :amount equal to o:ne-t",dflh
<br />(1112) of one-bdf '(112) per <Centum of lbe a~'U~ o~
<br />bal&noe due o:n the OOI\e complltcd ",itbool taI<iD.i into ZOOOllIlM
<br />ddinqumcics or pilcpa)"IDtDts;
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<br />(b) A $UID equal to the eroumt ICIlIts, if any. M.'lt due. pllus the
<br />pmniUmi 1lW .ill oat bmNm d~ ~ pa)~ 0<Il poiIiiOies or
<br />fUca>>d~~~~~~~-
<br />plUi tbet d4 ~-lll\eel~ Dut doe on lbt lOOlllIJB1'(d ~
<br />(~l OIJ ~~ b]' me A'~J Bess all $UDll$ ~ aWd
<br />lb~for divided by lbe ..umbel' of moaadK to ebpJIe bef(ft ooe
<br />(I) mMth ~ 10 th! dill ",11m mdI iWIlIDlI mt~i. lIlIaDNml.
<br />IDa IDli auc:mm;ull1!\lU ~ ~" ...m ........ ... "'"
<br />held b)' "'~ in lIUIllto pal' gDd ~ rmli, ~$.
<br />lna :Iud :qn:i11 mmmrnlii mil
<br />
<br />1~1 ~ ~l~ --=-~ ~~ ~ ~~~~
<br />clum IwuDmuml ~ oo...ooli I~ ~ ;..~!! miiI<< mf ~
<br />~~mm~~~!~~~-----
<br />tbmof WU be pIid by the M~ ~b momia m a ~
<br />P&)'lDmt to be ~ by the M~ to Ihe folllaaimli i{cms ill
<br />the order set forth:
<br />
<br />(I) pilmUum chuea; undet' the OOIIltRCt of iawr.moe.ith
<br />the Sec<<wl' of HouJ.in& and Urbul Oe\dopmml. CllI' -thly
<br />dw'ie (III Iitu of IDCII1lP8C' mS1UW>Cle pramum). m the Q1le may
<br />be;
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<br />(II) pound mlts. taxes. ~~ts. fire ;ami CIIlIm' hua'll
<br />insuranoe prmUlIl1ns:
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<br />(Ill) inlfml on 1M OOIt xrumJ OOAo)';
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<br />(IV) tiOOItialioo of IlK ~paJ of ~ -~; oUMl
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<br />(V) lale charge!;.
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<br />Any defteieoc). in lbe amount of sum ;aweple IDOOtbl)' pia)"
<br />mmt shaD. unless made good b)' tbe Monsa&<< pIlioc to the d~
<br />date of the next iUch pa)'1Dftlt. romlilute an e\ml of default
<br />undea' tbis mOltllaae. The t.tongagee may rolled a "we dw&C"
<br />nOlto exceed four cents (44) for each dollar (SI) of each pia)"
<br />
<br />3. That if the total of the pa)"IIlents made by the Mortgagor
<br />under (b) of paragraph 2 preceding shall exceed the atttount of
<br />pa)"IIlents acrually made by the Mongagce for ground rents. taxes
<br />and assessments or insurance premiums. as the case may be. such
<br />e.'lCCSS, if the loan is cunent, at the option of the Mongagor.
<br />shall be credited by the Mongagee on subsequent payments to be
<br />made by the Mortgagor. or refl1lHkd to the Mongagor. If,
<br />howt\-eI'. the monthly payments made by the Mongagor under
<br />(b) of paragraph 2 prc.:eiling shall not be suff'Icientto pay
<br />ground rents. taxes and assessments or insurance premiwns, as
<br />the case may be, when the same shall become due: and payable,
<br />tllen the MOttgagOI' shall pay to the Mortgagee any amount
<br />IK<<5$3I)" to make up the deficicnc)', on or before the dale when
<br />pa)'lDeDt of sum ground rents. taxes, assessments, or insunuKe
<br />premiums shan be ~_ If at any time the Mortgagor shall tender
<br />to the MCH1pgtt. in zc..-ordanoe with the provmons of the note
<br />~ Mreby. fun pa)'1I1eDt of the entile indebtedness
<br />~ted tlncRby. the Mortgagee shaD, in romputing the
<br />zmowll Qf mch indehtedDels. cmlit to the acrount of the Mon-
<br />~ all (!I3)1nULls mtde UJldu the plO\-moos of (a) (lIU3&RPb 2
<br />hucor ...hidi the MCH1PF bas toot bealme obligated to pall' to
<br />the ~ of Homing and Urban Oe\"efopmtllt and an)"
<br />~"1e mn:ailling in tile funds z<<umulated under the pro~isiol\$
<br />Olf (b) of ~,qrh 2 I>eRof. If thHe shall be a default lmdu
<br />:my 101' the pro~iOOn$ of this ~ resulting in a puNk We
<br />of the pmniw> OO\'tmJ 1tcrebJ. or if the Mortgagee a<quiR$ the
<br />~ oaMnIile ~er def:mlt. tile M~ shaD zpply. lit
<br />1M time 101' tbe ~t of sum ~, or at the
<br />time the propmy is cdtawile ~. the ~"1e tlw1 remain-
<br />iIl,g m ube funds 2lOWIDublted undu (b) of puayaph 2 p~.
<br />:as ;a OI~U ~ the _t or prind-pI1 theD mn:Uning unpaid
<br />~ Wd lIIllI4e. :md mill PfllIlUIJ adjmt ;my pIlpDmlS \llbidt
<br />~ h,,~.e b<l<D ~ WlJlIIu (a) of ~ 2..
<br />
<br />i, T1RJIIkI!\<~-I""T~~~
<br />m~ ..'lIlter nlloes.. :mil cdr>tt l'Gnmm~td or mmJdpal
<br />dilJl~. rmes. 01' impotliOOM, fOG' ..bfdt piO\mroo r. n'lJt ~
<br />tmlIk lmciiDbd'<>K. ;md m .sefauh llb=eof the M~ m.:Q'
<br />PJly the !l:IICllC illlllIi IIIWtlbe l\I~.. ..ill ~ de6\U kite
<br />o(fD.:Ull~ ~r(llt ll\ 1M I\lmlPift,
<br />
<br />J, ~ ~ ..111m ill iiiti 11l~ m.ly be ~ "'poD
<br />=~~:cz=.: ~~~~~~amd ~~-_..
<br />w.fIml UW' l!Il1 h~!itd ~ 1m ~~ (11' ~ ~-=mnJ
<br />~~J~~\g~~ mg~~~t::~ -~ '=
<br />.md OGlIly to the atCllJllIh1.t S$da \11m IIlClt maie tMs bn
<br />lll\wiou$l. blill ucNdiDa ;DJ' ~ tD. SWe or Fcdcnl, im.
<br />ptlIIIed _ M~. md .in rDie the ofrllCW Il:\.-efpt sho..ing
<br />web 11'&)_t ",iLb the L\~. Upon \ioblioa or this undu-
<br />tuimli, << if the l\I~ is pcohl'ltfl:ed bJ' mJ' b..' 00'111 Of'
<br />Imeafter oai!ting flom paJiD& tile ..hole or :m)' IWItwn of the
<br />ldOGlCl3.id tuC$. or llpoo tbe 1m1kriD& of any ,"OWl dcatt p'O-
<br />bilM1iD:~ tbe pl)mmt by tbe Monpa,w of my sum til.'lC$. or if
<br />wdllaw Of ckatt pfO\iiJcs tUt my UDOl1I1t 50 paid by the
<br />l\I~ ,~ be atdited 011 the moctpie dctlt, tlr.e M041P&tt
<br />sUn tn~<e the righl 10 p><e ninety da}S' ..tiUnl n<lti<:e to the
<br />Ql'Jl,toer of the moa~ ~. tcqlluma the ~Stttetlll\f 1M
<br />~ ~. If ~ ~~ he li~'CD, the ~ &bt shall
<br />~ due. p3)'"bk ;md ~iibk ;ill~ e'l(lU';ttioo of said
<br />Gimic<l)' dl)~_
<br />
<br />6. lk" $hoWd tbe MCH1pg<ar fail to pia)' om)' sum 01 te<p om)
<br />oo~manl p.lo~ilkd f~ in this m"...t~, tMo the l\IOIt~. at
<br />it~ optioo. may pia)' Of perform lhe!WDC, and all eApcMllllle$ 54)
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