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(1) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />143181 with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder, or
<br />(II) If and so long as said note of even lots and this %m-trurnznt are held by the Secretary of Housing and
<br />U;b,zn) eveiogt net. s moviddiy charge sin Fiat a {a rnrxtfutge hisuast ze p +nl which shall bd7 in +:r.
<br />amount equal to one- twetf't 0;712) of one?talf (it;) per Centtuit of the It -Cf-7 a curttandi-t& ka vnte
<br />dt-. on the no-ti . +s "L—_ wit=hout taking into account delinipfencies Cr pmpigments,
<br />?s) A sum eq" to the ground tents. if any, nett due. plus the p.s.,._..Y .:._: will rtcxt become due and payable an
<br />policies of fire and other hazard insurance coveting the mortgaged Property, plus taxt%Arid assessments neat! due
<br />on the t mrtgaged property fan es cstustreti ¢x the AfiurEndnl less all sums aheady paid therefor divided by the
<br />number of months to elapse before one mont prior to the date when such ground rents, premiums taxes and
<br />assessments will become delinquent. such mini to be held by Mortgagee in trust to pay said ground runts, pre.
<br />mittoas. takes and special assessments; and
<br />1c) All payments mentioned in *tae two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgwt to the following items in the order set forth:
<br />(1) premium charges tsider the contract of insurance with the Secretary of Housing and Urban Development.
<br />or mottddy charge fi!t hest aft ortMe msrum e e preetneml. as the can tray be;
<br />(11) "nd rents, taxes, assessmeam fire and other hazard insurance premiums;
<br />(111) interest on the note secured hereby_ and
<br />IIV) amortization of the principal of said note_
<br />Any deficiency to the amount of any such aaregtte monthly payment shall, unless made good by the Mott -
<br />€ages prior to the due date of the next such payment. constitute an event of default under this mortgage. The
<br />Mortgagee may collect a "late chair- not to euved fitut cents (its) for each dollar ($0 of eadh payment mote
<br />than fifteen (1 5) days tr arrears to covet the extra expense involved in handling delinquititt payments.
<br />3. Thu if the total of the pkw mts wade br the tlortgatfor under f hl of paragraph 2 preceding shall exceed
<br />the amount of payments actually wattle by rite Ua:titvee for around rents, taxes and assessments or insurance pre•
<br />miunts, as the case way be. such excess. if the loan is current. ent. at the option of the Mortgagor, shall be credited by
<br />the ZiortXagee on atbsequettt payments to be mate by the tlortgagor, or refunded to the Moirtgagor. If. however, the
<br />- ninthly pa)meato tirade by the Mortgagor tamer !hl of paragraph 2 preceding shall not be sufficient to pay ground
<br />rest. taxes and assas_suaents me inwsce prestass. as the ere may be, when the same shalt become due and pay
<br />able, then the "stet shalt pay to the Mortgagee a,$ amount necessary to make up the deficiency. on at before
<br />the date when paymew of such ground rents. taxes, assra_weas or i" uraure premium shaft be due. If at any
<br />time the E1aRgagor * Wl tender to be tfortttafb*. is arcondsnce with the provisions of the new secured hereby,
<br />fait trasnaeot of the entire indebtedness represented tbe•eby. the tfortgagee shall. its Computing tie amount of such
<br />indebt+cdrtess. credit to nix aceawtt of the Mortgagor all pavements made under the provisions of (a) of paragraph 2
<br />hert+rf which the %iortgagee has not became obligated t+ pas is the -*AK- tary of Housing and !ibises Develth, t
<br />Ind any balance remaining in the fonds arcrnnmlated tinder die provisions of (bl of paragraph 2 hereof If there
<br />shall be a default trader sty of the provisiew!i of this mortame resulting in a public sale of the premises covered
<br />hnaeb%. or if the ttorigattep ac"itr -t the prspnrts othftwiv after default. the tlertlfagee --Ralf app)y, at the time of
<br />the cetmwemcemeot of such proceedings. or at she time the property is other"'i<e acquired, the faaitmee theft remain-
<br />ing in the foods accumulated under'!.) of paragraph 2 perrodiag. as a credit against the amarat of principal then
<br />remaining tmpaid wider said !tote. and shall properly adhui,,t aav payments which shall have been made under (a)
<br />of paragrsph 2.
<br />a That the htaetprgor wui pay 10' 1 rnas. takes. asstrswents. **ter rates. and other goveraattntal or municipal
<br />charges. Ones. at msposdwin. for which provision has Pot fteco made heretnbefa-e. and in defauk thereof the Mortgagee may
<br />pa} the same. and that the VonIpWr allf PIORV911P deliver the of iii receipt' therefor to the Mortgagee-
<br />5 The %f riper wta twv all taxes orb" may be ktied upon the Mortgagee's interest is said real estate and imiprove-
<br />mertt €. and wtwb maY be leered dI ""'} -# ar the !lets'- secured hereby tout only to the txtew that such is not pro -him' -
<br />ed by law and cal} to the extent that such wd not malee this soma trwisitust. but excluding any income tsar State or Federal.
<br />imposed on Mortgagee. and w tti fife the 011iclai receipt sttaattat sit Pat mint with the 'Mortgagee t'pon violation of this under -
<br />:aktstg. or d the Mortgagor is prostit4levd by 4A) taw tit» or hereafter tstrttn; front; paying the whole or any portion of the afon-
<br />said taxes. set upon the reftde"P$ IA any cowls decree pr'liit't" the Fat ment M the Mortgagor of any such taus. dr if such law
<br />or Secret rrov!des that any amount sec pasC tit he V a tporit tft3V tv credited on the mortgage debt. the Mortgagee OUR have
<br />the right to give ntrety da.s wntten notice to the owner of sire - tsxttaEd Premises. regumng the payment of the mortiage
<br />If such home lsc tat es- se swd "ett±tt>Il Ptcorne due ray atilt and csstkc14 at tore extvration tai said ninety days.
<br />A That should he hail to pax arty stern or keep ors caseaa a- r pre- ided for to this Monpl;e. then the Mortpsee. at its op-
<br />tion. m1v ray or perform. the tame_ and a t tniendtivaes to made shaft tte added to the principal sum owing on the above note.
<br />sides!j rat sectded hereby. and %W t+tar irate t €t at the rate set forth in the sad nee. uMd paid.
<br />rat he lieretny as. -s. trosicts amod sots rivet t- ine %Lonflaffet- to tvt applied toward the payment of the nee and all
<br />scats secured hereby in case of a default in the perch masct of anv of the terms and conditions of this Mortgage or the said
<br />+Pte. awl the rears- rtveMaeS and !eons m tr dersed from+ the mortgaged pttmi€ts dung such time as the mortgage "W ebmd-
<br />riess .hall remain vernal. and (be Mortgagee scull have power to appoint any Will or agents if may desire for the purpose of
<br />repairing raid premiises and of rest" the same and collectsrhg the rusts, retemses and income. and it may pay out of said in-
<br />comes art txpessts of mpaasaff sad prewnrs and sccessaerl commissions std circuses nurtured in nenn -st and manapttt the
<br />tame and of cotltcttrg rentals terrfrom_ t e tasamce rema mittg. d any_ to be applied toward the discharge of sad mortgage
<br />,rdebtedness
<br />I . That he rug keep the improvements now exntnll ear hereafter erected on the mortgaged propettY. insured as may be
<br />required from tome to time tw the Mortgagee agaaw tars tsy fire and other hazards. casualties and contingencies in such
<br />Amounts and for with ptfood s in +rInx to requued"the Mortgagee and rill pay promptly, when dux. awl premiums on such
<br />m4str2nce provision for savmeat of which has not owes _made herembefore Alt muffarce shall be carried in companies ap-
<br />txottd bs the Maa;gagte and the pctacaes and renewals thereof s1+ -411 be cud tts the Mortgagee and have attached thereto loss
<br />"4 at-k clauses M ra -w 4 _�d M ;:-� 4c.Miss � the moirtsalme Is event of toss mortgagor wnlf give immediate notice by
<br />:nail to the tfcrtfattee. -%0 +ass matte prosf ci k ss if :net made lim'"VVY Isy %fortgagtr, and each insurance ceOW"Y con -
<br />cerned is her bi, auttaorrted and directed to :make paysirm for uKh loss directly to the Mortgaltre instead of to the Mortgagor
<br />OW the Stortgatet js,,uh . and the =mvrrance proceeds. a,r ant part thereof. may he applied by the MonS ant at its option either
<br />w t1+r reduction d the ,ndef >�seess hereby secured ar tc. the restoration M repur of the property damaged. in event of foreclo
<br />sun of iMs mortpgt Of other transfer of title to she riorttasee property in exurnevnhnient of the indebtedness secured hereby.
<br />a=+ rytht tale a.Ad tmte"m of the %tortpRot rn and to ant insurance policies then in fo*ct shall pass to the purchas" of grantee.
<br />Sat as add+lio"34 ad cnflaterar tr, ant} ,er rse ra,rser it of the ++cue drsc_iibed- and Alf sums to tteeoetedne under this
<br />^.xxttaRe, the '�! vtpgsx Extet*s ,igns ter the W tpftr at' p• 1;!s revenues. rotahoei. rights and benefits acvtiinf to the
<br />vt,�tsaacr strider ass Ar_� zil >: tvid secs !rivet ors Aar preen" etit to receive and receipt for the same and apply
<br />r?+rrn , sar+d = --,br' wnrdmtss as +ell sxfxare as after default rn the _orris" -n mcrtpge, and the Mortgagee maY demand. sue
<br />,ahe, due and r a.atfe so n? do This assigiti ens is to terminate
<br />!rtes +Ya<?•'1r "40 ar+d d viRF's rCtrasr C l this ,,. "same
<br />-VD,9V 43%1 94'91
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