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<br />The MortPior 10 order mOR fully to protfft Ule security of
<br />tho Mort..le, .1l'HS:
<br />
<br />I. That he will pay the indebtedness. as hereinbefore provided.
<br />Privilege is reserved to pay lhe debt in whole or in part on any
<br />installment due dale.
<br />
<br />2. That, to,ether with, and in addition 10. the monlhly
<br />payments of principal and interest payable under thc lerms of the
<br />note secured hereby. the MOrli.,or will ply to Ihe MOrlg.,ce,
<br />on the fast day of each month until the said nOle is fully paid,
<br />the followin. sums: .
<br />
<br />(a) Amount sufficient to provide thc holder hereof with funds
<br />to pay the ncltt monpge insuranoe premium if this instrument
<br />and the n-;uc secured hereby arc insured, or a monthly charlc (in
<br />lieu of a mort'lIe insurance premium' jf they are held by the
<br />Secretary of Housing and Urban Development. as follows:
<br />
<br />(I) U and so lonl lU said notc of cven date and this in-
<br />slmment arc insured or are reinsured under the provisions of the
<br />National Housinl A~. an amount sufficient 10 accumulate ill the
<br />hands of the holder one (I) month prior to its due date the an-
<br />nual monlaae insurance premium in order 10 provide such holder
<br />with funds to pay such premium to the Sccrelary of HOllsinl and
<br />Urb2n Development pursuant to the Nalional Housing ACI, as .
<br />amended. and applicable Relulations thereunder; or
<br />
<br />(II) If and 50 long as said note of even dale and Ihis in-
<br />strumenl arc held by the Secretary of Housin, and Urban
<br />Development, a monthly charle (in lieu of a mort'lIe insurance
<br />premium) which shall be in an amount equal to one-Iwelflh
<br />(1/12) of one.h~f (J 12) per cenlum of the averqe oUlstanding
<br />balance due on the nOle computed wilhoul taking inlo account
<br />delinquendes or prcpaymenls;
<br />
<br />(bl A sum equal to the around rents, if any. nelll due. plus the
<br />premiums Ih.l will nO:I become due and payable on polkie5 of
<br />fire and other hazard in~urance covering the morta.,ed property,
<br />plus tlU~ and as~ments nelU due on Ihe mortlaled propert).
<br />(all as estimared by rhe ,l"forr,.,reJ less all sums already paid
<br />Iherefor divided by Ihe numba of months to el.pse before one
<br />U) month prior 10 the dale when such .round renu. premiums,
<br />tlUes and assessments will become delinqu~nl, such sums to M
<br />held by Mon,.aee in truSI to pa)' said around rents. premiums,
<br />taxes and special aunlmeilt5; and
<br />
<br />Ie) All payments mentioned tn the IwO pre-cedina sub!t<<tionl
<br />of lhi. parqraph and a.1I paymC'nls 10 be made under Ihe nOle
<br />m:ured hereby shall be added tOltther, and 1he agrqale amount
<br />Ihereof ,hail be paid by the MOrlla,or each monlh in a linlle
<br />payment 10 be applied by Ihe Mmla_,et' t(l Ihe followlnl ileml In
<br />the order leI forth:
<br />
<br />(I) premium r.:har,l<I undc1 Ihe conlfll~~t llf IDlur.nl:'C' "'tlh
<br />lbe ~rclary of Houlin, and Urban I~'ell)pmt'nl. ~lr tmml II !),
<br />cha'ae (in lic-u or morr6ast' imuranlX prrmiumJ. .. Ihe rauo tna)
<br />be;
<br />
<br />(II) ground renl\, llun, llueUmCnll, file: and 1II11el l1ar.rd
<br />tn~urllnce rremiums;
<br />
<br />(1m 'nlttt'I' on thC' nOIl: ~(",;lIfN hl:'4;h~,
<br />
<br />(IV I ..mOrtllllllOn of Ihe (mncil,al of sA,d llllle:; llnJ
<br />
<br />l VI hUt (h/lfJii<~,
<br />
<br />AlI'1 deridenq' In lhe amOIlOI of \u.h IlUIrJlltc nllllllhbl"l}
<br />rrlC'tII \hall, unleu "'....e IOc'ld by lht" MI>llJlajlL1f t'um Itl Ihl" du('
<br />d,ltle: of Ihe: nut uld, l\f.ymrnl. WlIUHttle: In ("<'Ill cd .Jrl31111
<br />ufitkr thli I'IUJrtlll.ll:, nur MOII.Il!.ltt't m~~ .ullr,t II "I~lr dllt,~r"
<br />twl w tktt-rd rour (t'I'lU (41, 1m ridl ~'~llIlu rS n II' neh I\l'''.
<br />
<br />"'1"Mlf'''_~''__
<br />
<br />88- 103041
<br />
<br />\
<br />ment more than fifteen (I S) days in arrears to cover .i1e extra 0.
<br />pense involved in handlinl delinquent payments.
<br />
<br />3_ That if the total of the payments made by lhe M~
<br />under (b) of parqraph 2 precedm, sball a.c:eed lhe amouDt of
<br />payments actually made by lhe Mortppe for JfOUDCl t'aIIS. lues
<br />and assessments or insurance prcmiwm. as the cue may be. IIUdl
<br />excess, if the Joan is current, at the option .of tbe~.
<br />shall be credited by the Mortppe Oft suhlcqlHZll pa)'IMIl1S 10 be
<br />made by the Mortpaor. or refunded to the MoftaaIor. If.
<br />however, the monthly payments made by 'tbc: MCJI1NOI" uader
<br />(b) of parqraph 2 precediD& sbalJ not be sufflCieDl to PlY
<br />around renu. lUes and useuments or insurallCe ~. ..:J.
<br />the cue may be. when the same shall, become due aDd S-yabk.
<br />then the Monpaor shall pay to the Monppe uy UOOUD1
<br />nC<<lWY to make up tbe defac:iaK:)'. Or:! or before die dMt;,.taI
<br />payment of sudlll'ound fetUS. tu.eI, wr ~. ell: __.a.ce
<br />premiums sbal1 be due. If AI any time' die MOI1,piIOf .1IIlIIl1aIder
<br />to the MonPlef:. in accordance with the ~ of ...1t',U
<br />ltCured hereby, fun payment of lhe ~ ~ 11' 1.1
<br />represented ther~, the Monpaee ...wI. irt ~.. dt.e
<br />amount of such indebtcdDai. CRdil to tbe IlClClDIo8 or Dc Man-
<br />l&Jor all payments made uDder the prcMs:ioftl of 00 ,~ J;
<br />hereof which lhe MOJ1ptee bas GOt bu:omecll...,...... 10 pi,)' to
<br />Ihe Secretary of HoUlina and Urbu ~ ...s M)"
<br />balance remaininl in the fUDdJ .accum.lJauC uDdJer die: pl'O\~~
<br />of (b) of parqraph 2 bm:of. If tbc:rr d&a1I be. ckfauh UIlCir
<br />any of dIe provisions of lhis mor1pII: ~ 11'1 ap.ubt.it Ak:
<br />of the premises covered hereby. 0; if the Monpa.ee ~ *
<br />propeny otherwise after default. ube Monppe: s.ha\l1l'P'1!'~&'I
<br />the time of lhe comrnenc:remcnl of s.uch ~.'.~. at me
<br />lime Ihe property is OIherMK' ~. lhe ~ !!tal ~.
<br />inB in the funds accumulated u.ndft(b) of ~ l ~
<br />as a credit .pinn the amount of priDti,pa! thm remamq ~id
<br />under said nOle, and lha1! Pfoped)' adj&n:l IIW)' pI,!<1l:IIl::IW; ..tlidtt
<br />shall have been made unckr (a) of ~ :.,
<br />
<br />4. That the Monlllor .IU pay ~ fmt1i. Il&tIltl>.
<br />IlSSC5sments. 1I1..atet rales, a.'Id otbn pl~ or' m=~
<br />chartn. fines, or impolillions. fOf ..~ PfCil\1iIiorl hu i\')M ~
<br />made hereinbefoTt:, and in drfauh lh.."'ftOf w ~ imI~'
<br />pay Ihe wm; and t1w tht Monppr -ill ~ ti\'el' 11M
<br />official receipts therdar to lhe Monpftt',
<br />
<br />S. The Mmt,.,or .'ilI pall aU U.Ui.~ m&~'!bt' Ilrt._ \$~
<br />Iht MonplC't'" lnlrtfit in uS4 real a;.Wt ana Q~~t,,~
<br />Ind Vlhi.:h ml)' be 1t\'tN flIpor1 nut' l'IllINt,III:r(llr nhl': ~ ~
<br />hutb)' (but only to the t:ltmt .Ill!! wd'l ;it ~ ~4'llI ~, a.....
<br />and only 10 the cltmt lMt JUdI .'m aaa mai.'t l.:lmhe
<br />uluriouI), but rC1.dwbllJ U)' ~ 1.1.\. St&tT: ('If. AllIeIa1.. ..m.
<br />posed on MOfIIAl"', and ...n mt 1M of(~ It~ ~"~
<br />\u(b rl)ment -itb tbe Mm1J.q;<<, t:l~ ,.,....~'!lCrtl ..""~ j{lt'lil" \Iif\~'
<br />Ilklna, or If lh~ Milnlq~M "filT('j'b.lhtl~ bf.' e,.llP' MloIl' (!ill
<br />hrlUfltt e"lleana from pI)lna tht -bc-k ~ :a.1'l~' ~!I1'i/Ml il'l>t 1tltlr
<br />.tOlUl\d tl'Cli. Of ul'O'n tM tmikunJ; ~~' i&n~' .."'~urn r6Mlft:I!'Il''''
<br />hltmtn. IhC' pI)'mmt b)' tl'lf MN'PrC'lt """il.tl~ .;n:dt1ItI.~.. i'" ill
<br />~",h l..' Of d<<ret'rrQ\'idft d'l.~ all" ~l'ti "'" ii"D" 1b'~' liibt
<br />MOltllalOf ~h.lI N ~"JNlIN on .hr: ml'flf.'IIt ii.'Am. ~hr 'Mm1l;JliIlN'
<br />,han h...,C' '1'1\(,' tl,h~ m :J!~'C' nl!'iC'il~ ~I""" U'lt1tfl ,,~it(lr ttl'l 'lbt
<br />ll1i\n(,f ,'It tht nt\\U'I;JN fI'lmmn, 'l'fllfllilll'\J ,hi:" ;'tii-l.'l'l'\f'fll i~~ ~'hl'
<br />ml.1f'.IIIl:: drN. U 'Hhh nNH't' il"C' ,,'i\m, ~br u.t~ ah'tl1 ,..'hlln
<br />l'l(\.'1)1l1e due:. f\ll"l"kiith! ",,-'Ilr..:ll.ih1r ,1.1 ~ht t:'iIfll>ilih~'ll;,'l\ "t.~
<br />"tntl... 'tl...'\
<br />
<br />6, lib.' \"ou!.:1 1t1t M"I~P,~'i\1 Hill ~.('f 1'I....l.rl"~Ull\ ,~)l 'ft;'iIl.~,.\,
<br />('.."COOlnl $'lmiI1C'd {,,~ mltm "\,~l~"t', .lh~J:'l ~lllt, ".~IU'\Y, '\:II
<br />ilt oplilm, mll)'!,lI) m rr'l Sl"lm I~t urnf. 'n"~\!l ,r'..\'lit'~II'~im,'b.,~'
<br />
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