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<br />(1) month prior to its due late the annual mortgage insurance premium in order to provide such holder
<br />pt with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the
<br />@3 1
<br />! 911latiomd ItIctusing A =tz as amen4eil, aM appikzwe R-Viatilom rttenunddr, or
<br />(It) if and so iong as said note of even date and this instrument are held by the Secretary of Housing tatd
<br />Vrban Development, a goad arge It i" cf a ,..o= :gar s� Pa -m�ri which shalt b- in sr
<br />aaizu;ti equal to one - twelfth (l 1- OK one-half ()f' -) per cWurn of the avetage outstanding balance
<br />due on the note computed without taiauig mto a=ixunt delirtquen es or prepayments.
<br />(b) A sum equal to the ground rents, if any, next due, plus the p....�_,._ ; -_. will next beceint des LM payaile on
<br />policies of fire and other hazard irsura,-tce covering the mortgaged property, plus taxes and assessments next due
<br />o.-i the mortgaged property (all = esrrmared by sae .vinMee) less all sums already paid therefor divided by :lie
<br />number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and
<br />assessments will become delinquent, such stems to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums. taxes and special assessit enu; and
<br />t:) Alt payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be adder: together, and the aggregate amount thereof shat be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the following items in the order set forth:
<br />(1) premium charges order the contract of insurance with the Secretary of Housing and Urban Development,
<br />or monthly charge Inn Irma of m, -Rmr mumnorirt prernaim). as the case may be:
<br />(II) ground rents. taxes. assesurients, ftrt and outer hazud insurance premiums,
<br />111) interest on the note secured hereby, and
<br />(IV) amortization of the principal of said note.
<br />Ain) deficiency to the amount of any such aggregate monthly payment shall, unless made good by the Mort-
<br />gagor prior to the due date of the next such paymcr:t, z,tisittute an event of default under this mortgage. The
<br />Mortgagee may collect a late urge"' not to carted four cents {art) for each dollar IS I ) of each payment more
<br />than fifteen (1 S) 4-% 3 tr arrears to cover the extra expcnie involved in handling delinquent payments.
<br />S. That if the total of the payments grade br the klartgaagor under r b) of paragraph '. preceding shall exceed
<br />thr amootutt of paymemu actually made by the %loctgageee for remind rents, taxes and assessments or insurance pie-
<br />stuns, as the case eta% be, :arch excess. if the low is vurtent, at the gKion of the Mortgagor, shall be credited by
<br />the tbrtgagee on subxQuent payments to be :fade by the Mlottgagor, or refunded to the Mortgagor. !f, however, the
<br />- iootltly payments made by the Mortgagor under r i , of paragraph 2 preceding shall not be sufficient to pay ground
<br />rent, taxes and asse-sments or insaraace prerstums, u the case may be. when the same shall become due and pay -
<br />able them the Mortgagor shall pay to the }iorsgagee any amount necessary to :cake up the deficiency, on of before
<br />the date when payment of such grormd reefs, taxes, aa;essmeats or insurance premiums shall be dose. If at any
<br />Just the Mortgagor shall tender to the Mlorgagee, to accordance with the provisions of the tote secured hereby,
<br />full payttrent of the entire indebtedness mWeseated thereby, the Mortgagee shall, in computing the amount of suclt
<br />LAditbtrtiness, cresfil to the account of the MonpW Ad! payments trade under the provisions of raj of paragraph 2
<br />hereaf which the 1;tsrt, -ag" hu not become obligated to pay to the r+ectetaty of Housing and Urban Drselopmcat
<br />and any balance remaining in the funds accuaulated under the provistorts of (b) of paragraph 2 hereof, if there
<br />-hall be a default under arty of the pmvr� sons in ah:< mot- .,gage resulting in a public *ale of the ptesises covered
<br />hverebv, or if the %longagee acquires the property otherwise after default, the Sortgagee Aall apply, at the time of
<br />the commencement of -Qch proceedings, or At the time the property is otherwitie acquired, the balance then remain -
<br />,nq sa the funds accumulated tinder, ^„ of paragraph :' preceding, an a credit against the amount of principal then
<br />r:ma,ning unpaid under -aid note, and .hail peoperly Adlu*t Any payments *hich .hall have been made wider la)
<br />Of paragraph Y.
<br />a That the MforiSagor -ill pay ground rents- uxcs_ assessernts- water rates - am other governtsieretal of msinwipal
<br />vrgrs- fines, of impOS:twrts. for rhrh provision 'us, not tstea made hcreinbefore. and in kfauh thereof the -bfonsmee may
<br />ne same, and thm the mongigisr w "fol -,-tty 3t3rser rise rccctpts tfIC clot to tore MOngagce-
<br />< The Mortgagor .ill pay nil? taxes +anti ^uy be ie.ted upon the ltongagee't interest in said real estate and improve -
<br />,Rents- and which :mav'_vc rev wd up&A Miss tt,.srtgagt oar :ht :xM secured hereby ibut only to the extent that such is cwt prohibtt-
<br />ey: ±*y taw and Only to nT extent ilia! —h .4"6A make this tvun ut urwust. but czcluding any uscome tax. Stare or Federal,
<br />_Posed Ott tiorrgagee. _too w iii file the ,..r5: sea: recctpt sti. +iv ling suet payment with the Mortgagee- l'pxM siolatgn of taus utsdcr-
<br />�' mg w :f The ylw :g.;,t �a =s o!::t+otc.: `..a._.. 'ai. now at hercaftc etasting from paytng the whole or any purticiat of the afore -
<br />:,us. or up",, the saaer-ng of art ;._... or, nee t~re�?t.c+ne� the pay mint ray the Mortgagor of any such irxes. or if such I w
<br />- -r. ice pro, arcs :. . _ ..:g- -s.HI.,mr - 74,c' * >v -re Vostgagor ,tar:- be :rclited On the muttg, c dent, the Mortgagee shrill have
<br />- *c '' _. to gyve nrcr' n,:. 'c : 'he -wne-t of „x _'1>ftga4rd premises. rcyuuing;he payment Of the mortg,ao
<br />:,ern if '"h riv t.:c ^t i..cn "it a, 3 ZrN t.ect'nit J:.e. pay at%4 arxt :ollectibk At [he espttAtwn of sand ninety days
<br />TkAt 11s01 :,c -4 %",- for ,n tits Mtortg.gt. then the %tortgagee, at its op-
<br />`=:.t4. pay cr perf.v- `-it :sauc y+:.'T- espe*slatz :es a smut snail k ansled to the principal sum owing on the abo'c note.
<br />!,e sc,:urett he-et, snot 5tt. _rear cite iii: the matt set !orth to the saw note, until pawl.
<br />Tout he hereby - yjpn'. 7amsary a vea v.cr to the Mortgagete. to be applied toward the payment of the no AM all
<br />.�rsy ,r.urrd hertny it :ax .tf A zirfA -t .o t:ve xrforma,^.ct f any Of the terms And :Vndttio_ns of this Mortgate or the sad
<br />`sdar_ .,:: the rents - rxsc ^.arcs and risen -+x :o tv zcn,.ed from itte - oittgaged premises during such time As the mortgage imdetned-
<br />^,rss , *a #1 remain. urtpeg,: ..v :he yfc'^.Sagre ,na:1 ;ayc :;,wet to arpo,,it arty .,gent or agents it may desire for the Purpose at
<br />-r'a. -nng " prtrnists J-- _sf -rrUt4 '?+s s iMC �?%i :_t cct1,r4 1e tca±rs- te.enites and MCOme, and it may pay out of sad in-
<br />;,artrs a;l expenses Of rr ?+Ding :ace% Mc+rauv ArW ;tit . es:,ar :...._. -t :sty ne ;no expenses incurred in renting and managing the
<br />vnst and of cOl:ecnng �ene.:s `.:an :r :cfi� y, d any, to be applied toward the discharge of said mortgage
<br />-,lcbtcCrKSS.
<br />it That he will keep the improvr -sent% now custting r ?sereAfter erected on the mortgaged property. insured as may be
<br />-c.;u. red from rime to -ease by the M,xtgagre against toss by fir And other haauds.:Aivalties and :,mtrrtgenctn in such
<br />w.m. am for such per"4s as may be re- . -oared by rise Miosrtgtc aid svtf1 . pay promptly. ,r hen due. any premiums On such
<br />...mac provtsir fc =- -ma, �:� al :- ...T tyre .ma4c r tf iz :rs_ra r sha t be carried ir. c '?><s cep.
<br />•ed tsv the Mortgagee and mt pot .ties and rent +a , :hereof ,ir:l tic tied by the 'Nong.igee and have attached thereto loss
<br />:iadses in favor ,,f and :a f-_ - a<,cDtab;c to trim Mor•-.gagee l -n cent of toss Ml,xtgagor will give immediate noticr t+y,
<br />?e the Micwtgagce, t. ht: may "cane proof of i-,s if not maser pfi_ptiy by iviongagor, and each insurance company con -
<br />_ernn! is hereby suthortzed and arcord To mAke zAsment far sych toss directly w the Mortgagee instead of to the Mortgagor
<br />ar-d the Mortgagee ;o +tatty . act.: tic n- „tame prv;iteds. �, acv pan thereof, may he applied by the Mortgagee at its C1p4tOn tither
<br />.v =rte -c.it:ctwn of the ,njetgz_nc,s 'yrcby secured it to ttse restoration or repair -if the property lamaged fncvent of forecto-
<br />.�re i ,lies mnngagt :tr :,ttvfr t- ansfer +f ?,:,e tic site ^sv%tgtd p,-optrty 3n tsnnguis>•me. ^.t of the andrbtedness ucttrtd rtrrety.
<br />tsar a:sd :ntere,t *t :hx M_�r?gavr ; ,rd to fry ;- ts,.r_.n.e -rters ;hen in force sha::.ais to the pur Adscr vu jrantee
<br />v
<br />Thai as • i= >t>;;na? a--_ _ uy .`..f she p_, atrn• of 'ne �ie lexrzixd. ant wet 'ems to becomr due .-&!et - -his
<br />-- ragage. tht MvrtgAirx !scrctry a „,grs to ?he Mortgagce act - , -. re,cnuei. royatitrs -ghrs and berth” accruing to the
<br />•.- rtg,.,gsyr u'wrr any �. _-,. ,;r,; gas 'cage; , =n .au' 7'em „c, .. - - tent w. rei�ei -e an.; rtcripi for rest ,aver a-.. aPfiiy
<br />"tic^: Its said �re6t eed „t„.,a -u 'vcf;ae a, after Sefau =t in the -is m xtgage. end the Mortgagee may dcT:nos. +de
<br />•t:,:.cr ;rim s_.* , A. :inns »men d.,c and payabk - - -wire,^....., d,, Tbis j, immem is to !ci Maie
<br />.i..v ^e:vmr ra<.. a.,. ... ...... .....c ;ea,t <,t •h:s �., `tyxrae
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