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<br />86-100948
<br />SatA01,31 iioraaamre AJ. 2i an,cnva anti spTrica 'Ne Regulations thereunder.
<br />fill 1f and so ione m said r t :bets date ar if t its instru .nor arc held t,v The scar r n° oT ti us mg ana
<br />U-,ban Ikveiopment. a mouthilt charge 1m lice : f a n.rtrrrage 1 i1srrance .re -lure, wend, stall lt, it, an
<br />arrit?unt e<ival to one- twelfth i I A-D of Dine -half i f _) pe; centurn of the average +ruistandin: hAance
<br />due on the note computed without Taking into axoUnt delinquencies of pttpayments;
<br />(bi A stun equal io the er+tund rents if anx. next due, plus the premiums that will next become due andpayable ;)n
<br />prdicies of lire And other tnazata insurance covering the mortgaged property. Plus taxes and assessments next dun
<br />on the mongaged property ?a!: as _- rirmrred fit• ;ate Vt?rrizj.gec1 less all sums already paid therefor divided to the
<br />number of months to elapse before one anon h nnor to the ;ate %Oven such ground rents. premiums, taxes and
<br />aSessments will become deltaquemt- such aunts to tic held by Monzagce in trust to pay said ground rents, pre-
<br />miums. taxes and special a sseessmaenis- and
<br />(c) Ali payments mentioned in alai awe, preceditn.; subx.cuons of this paragraph and all payments to lx made under
<br />Cite Witte secured hereby shall he added i2 *atiiL r. and the ar gregate aniouni thereof shall be paid Ity the Mortgagor
<br />each Month tat a single payment To he apmlae_' ',s. the Mortgagee to tine fnllowine items in the order set forth:
<br />Ill premium charges untie: vhw oitlra t ,l insu;aricc with the secretar% on 33ousinc and 1 °rban llevrlopment-
<br />or monthly chased;'in iiet, ,i rrreritiunt , as Tile case :tray be:
<br />f[tl ground rents, taxes- assessnews. fire and outer ha"ard insurance premiums:
<br />dlli irtterest cart the c>ate :cured hercht: and
<br />i lt' i 3h.1,t1- rira110n Of The prinitp.ai Of Saki note.
<br />Any delicieucy in the amouw nt any such aggregate mottthiy rac,nient snail. uniesi; made good by the Mort-
<br />gagee prior tit the due date of the next such pavnx,zt, c:.,tstitute an eeen; of delauli tinder this morteage. The
<br />Mortgagee My collect a --late A12114C tent TO rxcced 1113;1 :ants (-i.7) fur each dollar (Sl l of each payment nlotc
<br />Chart fir i 1 .` ) ,+a,, s r- arrears to Covet The extra expense inviolved its handling delinquent payments.
<br />Titer t time total of the payments made b> The Mortgagor under f.' � of paragraph 2 preceding .shall exceed
<br />the amount of payments actually made by the ilortgaeee for around rents. taxes and assessments or insurance pre-
<br />mium. as the cas=e ma3 be -u(.h excess, if the loan is current, at the opticin of the Mortgagor. shall be credited ttv
<br />the Mortgagee on .. <ubsequent payments to be made by the Mortgagor, or refunded to the Mortgagor- 3f, however, the
<br />morlibly pay'"Vents made In the :4kxtgagcx under :'b.! of paragraph , preceding shall not be sufficient to par ground
<br />rent, tastes and assASsments or .insurance premiums, a= the case max ire. when the same shall become due and pay-
<br />able. then the Mortgagor shall flay to the Morgagee am amount nece -sary to make up the deficiency- on or before
<br />the date when payment of such grrtund tents. taxt _. aSse ssment_- or insurance premium= shall he due.. If at any
<br />time the Mortgagor shall tender to the Mortgagee. in accordance with the provisions of the note secured hereby,
<br />full payment of tare entire indebtedness repre- sented thereby. the ` ortg itee shall. in computing the amount. of such
<br />indebtedness. credit to the account of the Morgagor all payments made under the provisions of i,.,, of paragraph
<br />hereof winch the Mortgagee has not become obligated in pay to the ecretan of )dousing and ('than Development
<br />and any balance remaining in the fund= accumulated under the provisions of ! ' of paragraph _' hereof- If there
<br />shall be a default under any of the provisions of thi mortgage resulting in a public =ale of the premises covered
<br />hereby. or if the Mortgagee acquire- the property otherwise after default- the xlorigagee hall apply. at the time of
<br />the commencement of uch proceedings, or at the time the pmperty is otherwise acquired, the balance then remain-
<br />ing in the fond= accumulated under O l of paragraph _' preceding. as a credi t against tote amount of principal then
<br />remaining unpaid under said note. and shall properl% adjust ant pavements Which shall hate been made Tinder fc%
<br />of paragraph 2-
<br />4. That the Mortgagor will pas, _round ,-ens. taxes. assessments. mater rates. and other governmental or municipal
<br />charges. fines. or impositions. for u hich provision has not been made hereinhefore. and in default thereof the Mortgagee mad
<br />pay the same: and that the Mongagor u ill prompth, deliver the otncial receipts therefor io the Mortgagee.
<br />�. The Mortgagor will pay all taxes which may he levied upon the Mortgagee -s interest in said Tea! estate :ins improve-
<br />ments. and which may be levied apron this mortgage or the debt secured hereby +hut only To the extent that such is not prohibit-
<br />ed by law and onh to the extent that such will not make this loan, usuriousl. but excluding any income tax. state or Federal,
<br />Imposed on Mortgagee. and will file the official receipt showing such payment vrith the Mortgagee. Upon violation of this under-
<br />taking. or if the Mortgagor is prohibited bg any taw now or hereafter existing from paying the u hole or any portion of the vfore-
<br />said taxes. or upon the rendering of any court decree prohibiting. the payment hti the Mortgagor or any such taxes. or if such lau
<br />or decree provides that any amount nt paid by the Mortgagor shall he credited on the mortgage debt. the Mortgagee shall have
<br />the right to give ninety daj's written notice to the ova net of the mortgaged premises. requirine the payment of the mortgage
<br />debt. If such notice he even. the said debt shall become due. payable and collectible at the expiration of said ninety days.
<br />h. Thai .should he fail to pay any sum et keen any covenant provided for in this Mortgage. then the Mortgagee, at its op-
<br />tion, may p n or perform the same. and all expenditures so made shall he added to the principal sum owing on the above note,
<br />shall t+e secured hereby. and shall bear interest at the rate set forth in the said note. until paid-
<br />?. That he hereby assigns. transfers and sets over to he Mortgagee. to he applied toward the payment of the note and all
<br />sums .,ecurrd hereby in case of a default in the performance of arty of the terms and conditions iif this Mortgage or the said
<br />note. x11 the rents. revenues and income to he derived from the mortgaged premises during such time as;he mortgage indebted -
<br />ness shall remain unpaid. and the Mortgagee shall ht,ve power to appoint ant agent or agents it may desire for the purpose of
<br />repairing said premises and of renting the same and collecting the rents. revenues and income. and it may pay out of said in-
<br />comes elf expenses of repairing said premises and necessary commissions and expenses incurred in renting anti managing the
<br />same and of collecting rentals therefrom: the balance remaining. if any. to be applied t(owtird the discharge of said mortgage
<br />mdctncdness.
<br />S. That he wail keep the improventens now existing o, hereafter erected on the mortgaged property. insured as may he
<br />required from time to time by the Mortgagee against loss by fire and other hazards. casualties and contingencies in such
<br />amounts and for such periods as may lee required hl the Mortgagee and a ill pat prompik. u hen due, any premiums on such
<br />mt,uranec provision for payment of which has nor been made herembefore. All insurance shall be carried in comranies ap-
<br />proved by the Mortgagee and the policies and renewals thereof shall he held by the Mongagee and have attached thereto loss
<br />payable clause. to fa%or of and in for accrptahle to the Mortgagee. to even ,of loss Mortgagor will give immediate notice by
<br />?:tail io the Mvxtgag", who may make prtutf of loss if not made pnompth b% Mortgagor. and each insurance uompan} con -
<br />ccrned is hereby authorized and directed to make payment for such lets, dir"ik to the Mortgagee instead of to fhe Mortgagor
<br />acid the %kirtgaW jointly, and the insurance PTOLCCel. or AM part there 1 may he :applied he the Mortgagee it its option either
<br />tar the redueliim of time indebtedness hetetay secured or to !Tit restoration or Pen M Of !be property damaged. In c•v ent of fooreclo
<br />sure of riii8 mortgage or other transfer of title tit The mortgaged pioperry in cxtinguisnmeni of the indebtedness secured berefty.
<br />;x31 right, title and inters t of the %forilzaigor in and to any insur;o a, poliir Then to v e liall pass it, the purchusr or gr inter.
<br />9 That as Additxtnat jfW at laTerai sreutWT f.,r ht p.vmom Of stir tit is de,cr � t o nd ill unrs lo hteome due under this
<br />rrtostlgw. The MmIgagin he.ebt as signs III the 't ;,,• Ga};rr a!i , r ±his. re tenor:.. tal,ies. whts and I enents a;a u1Tte To ncc
<br />lAotigitgor uniter an* and all oii and etas It a c curs :act p'ennst . a ish thr iph mi is cipt r t The rot rid ippk
<br />Them ti• aaiaf atidebtedricss as "Cli !trforr.sa �ttICT deiatiit" ittr mdau:an, :ive .• 1 tti,.a>^c.'.:+.ol the M,. Tg.,gt, rn.ai ,i,. �..+tJ. •.:.�;•
<br />lw , n 3 e.::.•ver any <,se. r pa.mcW*, when slur :and r ably. heat sh;iP: •s, +c :raga e ht �itnt r.° n
<br />:anti r,ra:t,rnc ftul.3 attest %...seat ttN+sn iefCdse of 'ti rt��r,sa%r •.
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