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(1) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the
<br />E � dT National Housing Act, as amended, and applicable Regulations thereunder; or
<br />(f!) If and so long as said rote of even date and this ir> rimen! are held by Elie Secretary of Housing and
<br />Urban Development, a moethl c'''am fret fiena of a mortsep bliairmrv_ prerifum) which slhail be in an
<br />2- 3unt equal to one-twelfth (1112) of one -half (!,12) per centum of the average c=,a+wading balance
<br />due on the note computed without raking into ace ant delinquencies or prepayments;
<br />(b) A sum equal to the ground rents, if any, next due, plus the p,c:..:_.... ; . ; will text --come due and payable on
<br />policies of fire and other hazard mu-mce covering the mortgaged property, plus taxes and assessmenu next dtte
<br />on the mortgaged property (Asti as evintalred Fv the Afiugagre) Iess all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such ground rents, premiuts, taxes and
<br />assewisents will become delinquent, such sums to be hell by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special aaaesstteatu; and
<br />nc) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added tog:ther, and tM aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the following items in the older set forth:
<br />(1) premium dirge: under the contract of insurance with the Secretary of Housing and Urban Development,
<br />or monthly +:lur=e tin lien ojmorgw iwsuninc a ommium), as the case may be;
<br />(11) ground rents. taxes, assessments. fire and other hazard insurance premiums;
<br />4111) interest on the note secured hereby: and
<br />(IV) amorttutt" of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall. unless trade good by the Mort-
<br />gagor prior to the due date of the next such payment, cunstitute an event of default under this mortgage. the
<br />Mortgagee may collect a "late dtarte' not to exceed four cents (1st) for each dollar (51) of each payment more
<br />than fifteen (15) Jays in arrears to cover the extra expense involved in handling delinquent payments.
<br />T. That if the total of the paxmtats wade by the Mortgagor under fb) of paragraph 2 preceding shall exceed
<br />the amount of payments actually Aside by the Mortgagee for around rents, taxes and assessments or insurance pre -
<br />mitnaus, as the case may be. such excess. if die lout is current, at the option of the Mortgagor, shall be credited by
<br />the Mortgagee on - Aa"eat payeeats to be trade by the Mortgagor. or refunded to the Moortgagar. If, however, the
<br />monthly payments made by the Mortgagor under (b) of paragraph : preceding shalt not be sufficient to pay ground
<br />rent, taxes and assea_�eents or inmsrsmce premiums, as the case Wray be, when the same shall become dice and pay-
<br />able, than the Mortgagor shall pay to the Mortgagee any amount necessary to male up the deficiency, on or before
<br />the due when payment of such grenad teats, taxes, assessments or insurance premiums shall be doe. It at any
<br />time the Mortgagor "I tender to the Mortgagee, is accordance with the provisions of the note secured hereby,
<br />fail paymeat of the entire irdehtedaess neprt asited thereby, the Mortgagee shall. in compittiag the amount of such
<br />usdebtedwi s, credit to the account of the Mortgagw all payments made under the provisions of (u) of paragraph 2
<br />hereaf which the Mortgagee has nit become alligated to pay to the ,+reretary of Housing a" U i" Development
<br />sad may balance trwaznieg in the fiatda accumulated tinder the provisions of (b) of paragraph 2 hereof. If there
<br />-hall he a �taaat under any at the Brost =ions of this wirtga;e resulting in a public =ale of the premises covered
<br />hereby, or if the ttang&gee scrimres the property otherwise afar default, the Mortgagae Mull apply, u the time of
<br />the commeaceaKnt of wch proceedings, or at the time the property is otherwise acquired, the balance theft remain-
<br />ing in the funds accueiulated under f }.3 of paragraph preceding, as a credit against the amount of principal then
<br />re tanning unpaid under said mote. and shall prepArdy adluat any payments *hick shall have beta made under (a)
<br />of paragraph 2.
<br />a. That sir Morgagar %in pay Voting rents, taxes, assessments. ,mater rates. and ether governmental or mutux'ipal
<br />charges. fines. or impovtnoas, for which provision has rsat been made hereinbefore. and in default thereof the Mortgagee may
<br />Pay the same, and that the 311ortgapo w-- promptly derive the dial tr_'eipts therefor to the ? onsagee-
<br />S The Morttator utii pay all taxes which may be levied upon the Mortgagee's interest in said real estate and imM%C-
<br />ments. and which may be levied uwa this asonSage of the debt secured hereby (but only to the event that such is not prohibit-
<br />ed by law And only to me extent that such *41 not make this loan asunoxus), but exctdirg any moms tax. State or Fetal.
<br />Imposed an Mortgagee, and wed file the .illicul receipt showing web payment with the Mortgagee. Upon vioutioa of this under -
<br />raketg. or if the Mortgagor is prohsbried by any law now or Hereafter eusttng from frying the whore or any portion of the afore -
<br />sad taxes, or upna the reisjiering of any .oust dnree prohibiting the pay ntent by the Mortgagor or any str.At taxes, at it such law
<br />c decree prosidea rbat _v,. a ns wee: w pax: by the Meetgaigot shall be credited on the m=ortgage debt. the Monswe shat! have
<br />the right to pve minery :lays- written notice to the owner of the mortgaged premtses, requiring the payment of the mortgage
<br />seta It %tech notice be ip•cn. the sand debt shall becomes Aloe. payable and co>llechbie at the expiration of said ninety days.
<br />fs That should he fart to pay any slam of keep act) coseyart proviiled for in this Montage. then the Mtongagae. at its op-
<br />:eon. may pay or pc: f,tg € w same. and al, us es so =made shalt be Aided to tbe principal sum owi� as the also t note.
<br />,tall be secured hereby. and shall bcal anterrst at the rate set forth to the said note. until paid.
<br />" Thar he hereby assigns, aanslem and sera over to the Mortgagee. to be applied toward the rmynnew of the role and all
<br />wms vc�:ured hereby to case .af i 3efauM m the performance of any of the terms and conditions of this Mortgage Of the sad
<br />pyre- alt the rents. revenges and Income to be Icn%ed from the mortgaged premises during such time as the mortgage Indebted -
<br />ness ,hall remain ;Ittyaid: and the Mork shall have parirer to appaim any spat cx agents it may desire for the purpose of
<br />Tepautttss said ptetnrses_ asd 01 renting the %acme and CAJPLJC� the rents, revenues and Income. and it may pay out of said un-
<br />.ymes nit expenses of re^,.auej %vie premises teat nrcessuy commissions anp expenses incurred in renting and mxnagirg the
<br />same and of coile rmS temala therefrom, the ti ivare remaining. if any. to be applied tows rd the dt%charge of sad mortgage
<br />,nactstedness.
<br />That he %to keep the improvements now existing P hereafter erected on the montaged property, insrrrN as may be
<br />requmed from have to meat by the Mortgagee against loss by fire and other hazards. casualties and :uatutgrocies in such
<br />amt,?bams and fix soc-li perods as nay be icqve d by the Mortgagee and *10 pay promptly. when due, any premiums on such
<br />:nutatict pra; n o& fog pa3meat of at: --ach has nix beat ...ate herelmbefore AAA Insurance shall be carried in _-_ �_ ;see lnew ap
<br />•oved by the Mortgagee atwt the polices and renev,als thereof shall be held by the Mortgagee and have attached thereto loss
<br />ta.sbie cfauw$ In fasirr of mad in form accept.hie rot the iortgagee in event of loss Mortgagor w111 give Immediate notice by
<br />>ls :Il to the Mong;io c who may nuke proof of loss if not :Wade promptly by Montagor, and each insurance company con -
<br />.erned is hereby authtnzed acid directed to make payment for such loss directly to the Mortgagee instead of to the Mtortgagor
<br />and the Mortgage w.s y..and the ,nwrance proceeds. m any part thereof. may to applied by the Mortpg" at its option either
<br />to the red" Arian of the =debtedness hcteby secured or to the restoratwo or repair of the property damaged to event oaf foreclo-
<br />-re of this axxtgage or whet transfer J title to the mortgaged property in cittam ishment of the Indebtedness secured hereby.
<br />,.' ,gbt. tine no Interest „ t the Mortgagor ,n .rid to any .nwrance policies., hen to force shall pass to the purchaser or grantee.
<br />Ii That a% f,ld.Irorsal and co:latcral sccur:ty !ar a1c pay meni of the tote described. and All gams w become due under this
<br />xxtgage, the M,.rsag.ir hereby assigns to the 'itcxtgrgce all pt.Int•. te.eniles. rosaittes, rights and benefits accruing to the
<br />%jrIp" vrxkr any �nA: all 'xi and gas leases ;n sail premises ght to reietse and receipt for the same and apply
<br />he > to aIS! , xrrerc 3nasc as Wei[ 5cf re as after dtfau m the _sir -is mortgage, and the Mortgagee may demand, sue
<br />i;.r arxl tecase: an. _? va; meets +her. disc and payatk. *act -fluxed sir to do This assignment is to terminate
<br />sat h[..rt?te n„u mad —w
<br />•+t.D97taJM S ��I
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