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_...... -106323 no Morlp&or I. order more r.lly .. pro.ectlbe _.rily 01 Ibis Morflqo, ....... I. That he will pay the indebtedness. as hereinbefore provided. Privilege is reserved to pay the debt in whole or in part on Bny installment due date. 2. That, togC'lher with. and in addition to, the monthly payments of principal and interest payable under the terms of the note secured hereby. the Mortgagor will pay to the Mortgagee. on Ibe firs' day of oacb month until the said note Is fully paid, the following sums: (a) Amount sufficient to provide tbe holder hereof with funds to pay the next mortgage insurance premium if this instrument and the notc secured hereby are insured, or a monthly charge (in lieu of a mortgage insurance premium) if they are held by 'he SecrotaIy of Housing and Urban Development, as follows. (I) If and sa long as said note of even date and Ibis In- stn1Jllcnt are insured or arc reinsured under the provisions of the National Housing Act. an amount sufficient to accumulate in the hands of Ibe bolder one (I) monlb prior to It! due date the an- nual mortBB&C insurance premium in order to provide such holder with funds to pay such premium to !be SecreUU'y of Housing and Urban Development pursuant to the National Housing Act. as . amended. and applicable Regulations thereunder; or (II) If and so long as said note of even date and this inM strument are held by the Secretary of Housing and Urban Development. a monthly charge (in lieu of a mongage insurance premium) which shall be in an amount equal to one~twelfth (1112) of one.half (l12} per centum of the average out!tanding balance due on the note computed without taking into account delinquencies or prepayments; (b) A sum equal 10 the ground rents, if any, next due, plus the premiums that will next become due and payable on policies of rrre and other hazard insurance covering the mortgaged property, plus' taxes and assessments next due on the mortgaged property (alJ as esrimared by rhe Mongag..) less all sums already paid menfor divided by the number of months to elapse before one (1) month prior to the date when such ground rents, premiums. talles and assessments will become delinquent, such sums to be held by Mongag.. in tlU5t to pay said ground rent!, premiums, taxes and special BSSeSlmentsi and (c) All payments mentioned in the two preceding subsections of this paragraph and all payment! to be made under the note secured hereby shall be added togelber, and Ibe aggregate amount Ibereof sball be paid by Ibe Mongagor oach monlb In a single payment to be applied by the Mortgagee to the following items in the order set: forth: (I) premium charges under the contract of insurance with lb. SecrotaIy of Housing and Urban Development, or monlbly charge (in lieu of mongase insurance premium), as the case may be; (II) ground rents. taxes. assessments. fire and other hazard insurance premiums; (III) mterest on Ibe note secured hereby; (IV) amortization of the principal of said note; and (V) we charges. Any deficiency in the amount of such auregate monthly pay. ment shall. unless made good by the Mortgagor prior to the due date of the next such payment. constitute an event of default under this monsase. The Mortgagee may collect a "late charge" nOl to exceed four cenu (ole) for eacb dollar ($1) of each pay- ..) ment more than fifteen (15) days in arrears to cover tho extra ex- pense involved in handling delinquent payments, 3. Thai if tbe lotal of the payment! made by tbe Mongasor under (b) of paragraph 2 preceding .ball exceed tbe amount of payments actually made by Ibe Monw.. for ground rent!, tBlles and assessments or insurance premiums, as the case may be, such excess, if the loan ill current, at the option of the Mortgagor, sball be credited by Ibe Monsasee on subsequent payment! to be made by the MongBlor, or refunded to the Mortgagor. If. however, the monthly payments made tiy the Mortgagor under (b) of paragraph 2 preceding .hall not be sufficient to pay ground rents. taxes and asscuments or insurance premiums. as the case may be. when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee any amount necessary to make up the deficiency. on or before the date when payment of such ground rents. taxes. assessments, or insurance premiums sball be due. If at any time Ibe Mongagor sballtender to the MangllBec, in accordance witb Ibe provisions of tbe note secured bereby, full payment of Ibe entire Indebtedoess represented thereby. the Mortgagee shall, in computing the amount of such indebtedness, credit to the account of the Mort~ gagor all payments made under the provisions of (a) paragraph 2 hereof which the Mortgagee has not become obligated to pay to the Secretary of Hoasing and Urban Development and any balance remaining in the funds accumulated under the provisions or (b) of parasraph 2 hereof. If there shall be a default uoder any of the provislons of this mortgase resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, tbe Mongagec sball apply, at the time of the commencement of such proceedings. or at the time the property is otherwise acquired, the balance then remain- ins in Ibe fund. accumulated under (b) of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under said notel and shall properly adjust any payments which shall have been made under (a) of paragraph 2. 4. That the Mortgagor will pay ground rents. taxes, assessments. Wilier rates. and other governmental or municipal charges, finel. or impositions. for which provision bas not been made herelobefare, and in defaul'tbereof Ibe Mangag.. may pay the same; and tha, Ibe Monwar will promptly deliver tbe official receipts therefor to the Mortgagee. 5. The MongllBor will pay alll8lles which may be levied upon the Mortgagee's interest in said real estate and improvements, and which may be levied upon tbls mortgage or Ibe debt secured he,eby (but only to tbe extent that sucb is not prohibited by law and only to Ibe extent Ibat .uch will not make Ihis loan usurious), but exc1uc1.ina any income tu.. State or Federal. im- posed on Monwee, and will file tbe official receipt Showing such payment with the Mortgagee. Upon violation of this under- taking. or if the Mortgagor is prohibited by any law now or bereafter existinS from paying the whole or any portion of the aforesaid taxes. or upon the rendering of any court decree pro- hibiting the payment by the Mortgagor of any such taxes. or if such law or decree provides that any amount 50 paid by the Manwar sball be credited on the monwc debt, tbe Mongagee shaJl have the right to give ninety days' written notice to the owner of the mongaged premises, requiring the payment of the mongBge debt. If such notice be Biven. the said debt shall become due, payable and collecrible at the expiration of said ninety days. 6. That should the Mortgagor fail to pay any sum or keep any covenant provided for in this mortgage. then the Mortgagee, at its option, may payor -perform the same. and all expenditures 50 { (leT:; ,-\ Page 2 01 " ...)