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L n r 1 { n! )n ) _): Fr, It, du a €r ttre -+nnua rte }rt r_e u) uian c l�rc loon u? provide such l:olde: 8 "VO55 will; ritnc Ir, play sty rr pnmtun. t: ll St is ate of liuusins' and I than De%ciopment pursuant 10 the \a iO.:ar Housing A 1. as ante Se_'- s 6 anpit "ble Reeulanons thereunder: or (II) if and so long as said no?c of even date and tilt, instillment arc 116' by tite Secretary' of Housing ant Urban I)eveiopment, a monittiv charge iin lieu jtj, a murigage iitsuranct, prenthan) which shall he in an amount equal in one - twelfth I1?]_) of one -half (I,'-') per centum of time average outstanding balance due tin this note computed without taking into account delinquencies or prepayments. (b) A sum equal to the ground rents. if any. next due. plus the premiums that will next become due and payable on policies of fire and other hazard insurance cawering the mortgaged property, plus taxes and assessments next due on the mortgaged property ia11 as vsrinrarexf hr the Aforigager, less all suits already paid therefor divided by lite number of months to elapse before one month print m the date when such ground rents. premiums, taxes and assessments will become efclinqucn ?, such sums to be held by Mortgagee its trust to, pay said ground rents, nre- miums. taxes and special assessments: and (c) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under the note secured hereby shall he added together, and the aggregate amount thereof shall be paid by the Mortgagor each month in a single payment u, he applied by li:. Mortgagee to the following items in the order sit forth' (i) premium charms under the contract ofinsurancc with the SL'cretaTV of fk,usutg and Irian D velopmeni. or monthly charge tin lira rid mor(gagf, insuranm prenlfunt i. as the case stay be: (H) ground rents. taxes. assessments, fire and other hazard insurance premiums: (11I) interest on the note secured hereby: and (Iv) amortization of the principal of said note. Any deficiency to the amount Of any such aggregate monthly payment shall. unless made good by the Mort- gagor prior it, thedue date of time next such payment, c:mstitttte an event of default under this mortgage- The Mortgagee may collect a "Tare charge" not to exceed faun ants @tt) for each dollar (S I ) of each payment ,tare than fifteen (151 gays in arrears to cover the extra expense involved in handling delinquent payments. ;1. That if the total of the payments made by the llortga -or tinder ! is % of paragraph 2 preceding shall exceed the amount of payment:- actualk made by the Mortgagee for -round rents. taxes and as=ps. -menu or insurance p*^- miums. as the case. may be. such excess, if the loran is current, at the Option of the Mortgagor, shall he creditet t , the lktrtgagee on sub_�tquent payments tit be made by the Mortgagor. or refunded tot the Mortgagor- If, however, the tmnthly payments made by the Mortgagor tinder 'hl of paragraph 2 preceding shall not be sufficient to pay ground rent taxes and a:.essments or insurance pmmiums. as the case may be, when the same shall become due and pay- able. then the Mortgagor shall pay to the Mortga_ee any amount necessary to make up the deficiency. on or before the date when payment of such ground rents. taxe assessments or insurano < premiums shall be due- if at any time the lbngagor shall tender to the Mortgagee, in accordance with the pro =ions of the note secured heroby. fall payment of the entire indebtedne =s represented thereby. the Mortgagee s 1:x11. to computing the amount of such indebtedness, credit to the account of the Mortgagor all payments made under the provisions of !a/ of paragraph hereof which the Mortgagee has not become obligated to pay to the secretary Housing and Urban Development and any balance remaining in the fund- accumulated under the provisions of 0:) of paragraph 2 hereof- if there shah be a default under any of the provisions of this morirage resulting in a public sale of the premises covered hereby. or if the Mortgagee acquires the property otherwise after default. the Moriga me shall apph , at the time uC the commencement of such proceedin -s, or at the time the. property is otherwise acquired. the balance then nrmain- ing in the funds accumulated under t7 i of paragraph 2 preceding, as a credit against the amount of principal !hen retraining unpaid under . =aid note. and shall properly adjust any payment= which =hail have been made u, der of paragraph 2- 4. That the Mortgagor will pay ground rents. taxes. assessments- water rates. and tither governmental nr municipal charges, fines, or impositions. for which provision has not been made hereir ICAOre, and in default thereof the Mortgagee mar pay the same. and that the Mortgagor will promptiv deliver the official receipts therefor to the Mortgagee. 5. The Mortgagor will pay all taxes which may he levied upon the Mortgagee's tntersst in said real estate and lingo) - -e- mems. and which may he levied upon this mortgage or the debt secured herehy (hut only to the extent that such is nor prohihn- ed by law and only to the extent that such will not make this loan usurious). but excluding am income tax. State or I ederai. imposed on Mortgagee. and will file the official receipt showing such payment with the Mortgagee. Upon violation Of this under- taking, or if the Mortgagor is prohibited by am law now or hereafter existing from paying the whole or any portion of the afore- said faxes. or upon the rendering of am court decree prohibiting the payment by the Mortgagor or any such taxes. or if such law Or decree provides that am amount u, Paid by the Mortgagor shall he credited tin the mortgage debt. the Mortgagee shall have the right to give ninety dnvs' written notice to the owner of the mortgaged premises, requiring the payment of the mortgage debt. If such notice he given, the said debt shall become due. payable and collectible at the expiration of said ninety days. ti. That should he fail to pay any sum or keep any covenant provided for in this Mortgage. then the Mortgagee. at its op- tion. may pay or perform the same, and all expenditures so made shall he added to the principal sum owing on the above note. shall he secured hereby. and shall beat interest at the rate set forth to the said note. until paid. ?. That he hereby assrtms. transfers and sets aver a, the Mortgagee. to he applied toward the payment of the note and all sums secured hereby in case of a default in the performance of anv of the terms and conditions of this Mortgage or the said tote, all the rents, revenues and income to he derived from the mortgaged premises during such time as the mortgage indebted- ness shall remain unpaid: and the Mortgagee shall have power to appoint any agent or agents it may desire for the purpose of repairing said premises and of renting the same and collecting the rents. revenues and income. and it may pay out of said in- comes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom: the balance remaining. if any, to he applied toward the discharge of said mortgage indebtedness. S. That he will keep the improvements now existing or hereafter erected on the mortgaged property. insured as may he required from time u' time by the Mortgagee against loss by fire and tither hazards. casualties and contingencies in such amounts and for such periods as may be required by the Mortgagee and will pay promptly. when due, my premiums On such insurance provision for payment of which has not been made hereinbefore. All insurance shall he carried in companies ap- proved by the Mortgagee and the policies and renewals thereof shall tie held by the Mortgagee :+nd hive attached thereto loss payable clauxs in favor of and in form acceptable to the Mortgagee In event of Ins Mortgagor will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made promptiv by Mortgagor. and each insurance company cun- cerned is hereby authorized and directed to make payment for such loss directiy to the Mortgagee instead of to the Mortgapor and the Mortgagee Jointly, and the insurance proceeds. or anv part thereof. may he applied by the Mortgagee at us option either to the reduction of the indebtedness hereby secured Or to the restoration or repair of the property damaged in event of foreclo- sure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the mdeMedness secured hereby . all right. title and interest of the Mortgagor in Lind t0 anv insurance policies then in force shall pass Io the pure In+ser or grantee 9 Thai as additional and collateral security for the Ila%men( of the note described. and all sums to i,ecomc due undo this mortgage,. ibc Mortgagor hereby assigns In the Mortgagee all profits. revenues. ,.values, right, and t,enetin arcrumc Io the Mortgagor under any ar•d !r 0:1 +ni pas !Casco on surd premises. Will' the right lo rmerve and recc•it'l for the swot' and appi, them to said indfehtednes -: well t>t.fore as after dcf.!ulo on 1he omhnon —if this nu riviwc, .nrd the Morw,ntCa man demand, sus and re.ovct sn, such papmenis when dour .in'i llioahic. huh .hall mgr tv rcuuucd s,• to 'w 1ln. :a,F>;nnu•nt is 10 renaur•.�Ic " "d he ors, nu` ,;rt' +u +d align rele:ese• iS Ih+s l"'.1gagc JV _ >,I il? I