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<br />100728 wItII ii :. trek n c u u , S n t . uI t) a l pmu. ,w; >r at. .h;
<br />�annnai f- irl :z,tnr. A%:I, a, srac.oa _ J ., .•u,... ac Re, .n_.iis, lass- rt •1Ur •r
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<br />(fI> If and so ir•ne a said note of even date anti :hie i istrununt air hold ilk the Sccretary of Housoliz :anti
<br />a rn nthoy charge i in lieu , rl a r n or gggc insuratu t• premium ± which Shall Inc In an
<br />10 oile-iwolr Ill 11 121 of rtne -hali 1I;_+ Per :Cull o of the average outstanding halance
<br />due on the r,, n: cum; tried witl!uut taking into account delinquencies or prop avnenis.
<br />fh) A stir•! anal TO CIIC ctextn rent,. !! am. next dui•, [lift, toe arenliutns that will TICK! hek•.0 ^c due and payable Ili
<br />poli.u, or :ire and other hazard Insurance covering the mortgaged pulp ri%. plus iaxes d sCssments next due
<br />oo the mortgaged proPCrty fa!/ as estimated hr the Moregre •. less all sums :dtea x plat! ! r:: r divided by the
<br />nurnhcl of months u, elapse before one month Pelt,? to ?flea dine wncn such .round n';1::, arrnuums. taxes anti
<br />assessments will hconne dehnyuent. such sums fu tic held by Mor-Mece in trust to !lay saicl '?mild rents. pic
<br />rniunis• taxes and special assessments. and
<br />(c) All payments mentioned in the twin preceding subsections •oi this paragraph and all payments to he made undC!
<br />the note securcef hereby shall he added together, and the a ctcgatc amount !he,ent ;hall bc. pull by the Morgagut
<br />each month in a smile Payment to lie opplied by the Mlntgagee to the ioilokkinp ucros tit the Older set i.,rih
<br />(1) premnun charges under the contrast of insurance oval The Se: ?elan' of Housing' aad linen Devciopnter.l,
<br />or monthly charge fin lieu •)l nra,rtgagc insurmtr, nrrm@on 1, as the case ilia. he:
<br />(11) ground teTltzi, taxes. assessments. tine anti nihel hazard insurance prerrriunls.
<br />(111) interest on the nntc secured hereh }:aunt
<br />(IV) aniortizatlon of the Pnncroul of .aid Note.
<br />Any deficiency to the amount or an} such aglaegate monthly paymenl shall, unless made P-00d h}. tilt Molt-
<br />gagor prior to the due date (if' the nem such par, •r,e• t. enutiure all event Ol detail! tun el this rne,rtgage. flit'
<br />Mortgagee may coile.t a 'late charge'- nor tai cz % :t_d 1 ! .cots (-!c) it,r each dollar (51 )ill ach pas I rat nlo,e
<br />than fifteen ( 15) do %s w arrears to cover the CXoa Cxtsense Involved tit handling_ delinquent payments.
<br />S. That if the total of the• payments made by the• Mortgagor under rr tit* paragraph 2 pret-voing Khali exr (-elf
<br />the amount of payments actually made b} the Mortgagee for ground rent -. tax(-- and a,- essmvnts or insurance pre-
<br />miums. as the c•ust, may be. such excess- if the loan is current, at the option of the Mortgagor. shall he credited h%
<br />the Mortgagee on subsequent payment- u) be made by the Mortgagor. or refunded to the Mortgagor If, hok%(-ve•r- thv
<br />monthly payments made by the Mortgagor under i of Paragraph ' preceding shall not ix sufficient to pat ground
<br />rent. taxes and assessments or insurxice premium=, as ill(, case Wray he when the same shall become due and pa%-
<br />able then the Mortgagor ~hall pay to the Mortgagee ant amount necessary to make u11 the- deficient%, on ar before
<br />the date when payment of such ground rents. taxes. assessments or insurance Premium- shall be due If at am
<br />time the Mortgagor skull tender to the Mortgagee. in accordance %kith the pro%ision- of Ihe note - (-cured hereh%.
<br />full payment of the entire indebtedness represented thereby. the Mortgagee shall. in computin" the amount of -och
<br />indebtedness, credit to the account of the Mortgagor all payments made under the provisions of of Paragraph
<br />hereof which the Mortgagee ha- not become obligated to pat i.o the .1,ecretan' of llousing and l'rhan Development
<br />and ank' balance remaining in the funds accumulated under the provisions of ; r; of para_nilph _) hereof. If there
<br />shall he a default, under arty of the prop ision- of this mort -va_re resulting in if public -aie of the premise•- co%e•rccl
<br />hereby, or if the Mortgagee acquire- the propene otherv%ise after default. ill(. Mortgagee• hail applx. at alt(- Irmo tit
<br />the commencement of such proceedings. or at the time the property is uthcro%isc acquired, the balance then rf -mion-
<br />in_ in the fund=_ accumulated under 1',., of paragraph _) precedinF. as a credit again -i the amount of principal tht -n
<br />remaining unpaid under said note - and -hall properly adjust am pa%ments which ;hall have been made- vsder
<br />of paragraph 2.
<br />That the "Oorigagor krill pay ground rents. taxes, assessment. %k'ater rate, and other gnkernmcmt :a : r ma Nlcap; l
<br />charge,. fine,. ur imposition,. for %ktuch pro%'isinn ha, not heen matte herClilhCItire. and In efcfaul! thereof the \iOrtt :a Plat
<br />pay the same: and that the Mortgagor .kill promptly deliver the official receipt, theretol u1 thc• Mortgagee.
<br />The Mortgagor "ill pat all taxe, %which mac he le%'ied upaN the Mortga;•ec , inter (-i in ,iid refill c,t: -n and immokc
<br />inenls, and which may ht'• te%ied upon this mortgage or the debt secured heteh% (hut oni% fn he cmen•t that: such i- nor p`ohiPtt
<br />ed h% law and onh to the extent that ,uch will not slake this loan usuriousl. but excluding am Income ia%, Staic or Federal.
<br />tmpo,ed nn Mortgagee. and will file the Official receipt ,homing such pay ment u rah the Mortgagee. 1. pon violation of ihi, under-
<br />taking. or if the Mortgagor is prohibited by am law nook or hereafter existing from patine the whole Or an% portion of the afore -
<br />,iiid laze -. or upon the rendering of am court decree prohihiting the payment he the Mortgagor ur ank such taxe,. or if such Liu
<br />o? dec an
<br />ree pro%ide, that % amount so paid h% the Mortgagor shall he credited tin the mortgage debt. the Mortgagee ,hall has c
<br />the right to give ninety days kk'riticn notice to the owner of the mortgaged premise,. requiring the pay melt of the mortgage
<br />deht. It ,uch notice he given. the said dchl shall hecome due. payable :rod collectible at the c,,pira! ion ,I ,aid nines da%
<br />I) That should he fail to pav am sum or keen am ct veriant pmxided fur in this Mortgage. then the Mtnngagc-c•, at its op-
<br />,!l mail. pin cr p L•rn1 the• Kiang iuld all expenditure, ,o made shall he added u1 the principal ,um tic, me on the ahove note -
<br />,r;all he ,cured hereby. and shall hear interest :u the• ratc•1ci forth in the said note, until paid.
<br />That he herchs_: assigns. transfers and sets over to the Mortgagee, to he applied toward the pat meat of the note :rod i,l!
<br />sums ,ccured herehc in case of a default in the performance of any of the term, and conditions of this Mortgage or the saki
<br />note. all the rents. revenues and income to he derived from the mortgaged premise, dunmle such time as the mortgage inefehted-
<br />ness shall remain unpaid: and the 4lortgagee shall have power to appoint any agent or agents it mat desire for the purpose of
<br />repairing said premises and of renting the .same and collecting the rents. revenues ;Intl income- and it may pat out of said in-
<br />comes all expenses of repairing said premise, and nece,sarc commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom: the halance remaining. if any, to he applied usk%ard the discharge of said mortgage
<br />indehtedness.
<br />8. That he will keep the improvements nokk existing or hereafter erected on the mortgaged property. insured its may he
<br />required from time to time h, the Mortgagee against loss by fire and Olher hazards. casualties and contingencies in such
<br />amounts and for such periods as may he required by the Mortgagee and % %ill pat promptly. \ %hen due. art% premiums on such
<br />insurance provision for payment of which has not been made hereinhefore. All Insurance ,hall he carried in companies ap-
<br />proved by the Mortgagee and the policies and renewal, thereof shall he held hp the Mortgagee and have attached thereto loss
<br />payahle clauses in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor krill give immediate• notice hr
<br />mail to the Mortgagee - who may make proof of foss if not made promptly by Mortgagor. and each insurance compank kon-
<br />cerned is herehv authorized and directed to make payment fo! such loss directly to the Mortt !gee instead of to the Mortgagor
<br />and the Mortgagee joiath . and the insurance proceeds. or arty part thereof. Wray he applied he the Montiage.e at its option either
<br />•k o fur•'lo-
<br />te the reduction of the indebedne,s hereby secured or na the r•sturtnon or rep:ur of the piopern damaged. In e c.0 f cs
<br />,urc of till, mortgage or other transfer of title to the mortgaged properly in extinguishmenl of the ondehtednes, secured heichk .
<br />all right. Bali and interest of the Mortgagor in and to ant insurance policies then to fnt%c ,hall pas, it) the purchaser .a erantce
<br />I hat a, additional ono c..d Meal securily for the p. :krncot of the nuts described. and all ,urns ie ha•cornr due .older fills
<br />mollvitgc, The Mortgagor hcreh% : ago, NI the Mortgagee fall moors. rcycnue, r 1k liie,. -Li ghi, ,rod hencfn, .I tufnc • , [lie
<br />nndcr an% and di rni ::nil Pa, leases ,n said premises, kith tile right tt re.cnk :Ind Ic%clpt 'or I'll , ime ,anti 'prat
<br />.:;r in. -�t :cJne•,. uk!I t ci,.,re :I, .dt "c? detaull m tile k :ondlllont of th:, m; , Igai:y. anal !tic \lour etc ❑u , do m. N,f. tie
<br />to' 11 J"I T`.n :Ihie. huh ,hall n,r he• I; knnra 1
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