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<br />(t) ntt,nth prior tiff its .due daze the annual rttage insurance prerniur,i ill erdrr tq provide such holder
<br />X14 ,�� with funds to pay such premium ,c; the Sec retary of Housing acid ,;than Ikveiop lent�pursuant't +a tha
<br />National Housing .Act, ai amended, 4alai a;`.f licable Regulations iheretnder; or
<br />(il} If and so long as said note Of even date and this mslrunten; are held by the Secretary, of Housing and
<br />Urban Development, a monthly charge yin lieu 14a rnrirejage insurance preririu rt/ whit :h shall be it, an
<br />amount equal to one- twelfth (1/12) of ;me -half (I j2) pef centunt fit- the average outstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments;
<br />(b) A sum equal to the ground rents, if any, next due. plus tite premiums that will next become due and payable on
<br />Policies of frre'and tither baaard insurance covering the mortgaged property. plus taxes and assessments next due
<br />on the mortgaged property (a11 as cstimared by the afortgage",1 less 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. premiums; taxes and
<br />assessments will become delinquent. such sums to be held by ,Mortgagee in ;rust at, pay said ground rents,,prc-
<br />miwns,'taxes'and special assessments. ,,,f
<br />1 tut payments mentioned irk tite two preceding subsections of this paragraph and WI payments to be inadc' tinder
<br />the note secured hereby shall be added together', and the aggregate amount thereof shall be paid by theMortgagor
<br />each month in a single payment to be applied by the %,rtgagee to tiro tbhowimg items ni the order set forth:
<br />(1) premium charges wider ate contract of insufLUIce with the Secretary of lfewsing and urban Development,
<br />or monthly charge fin lierr.,.01fortgaxe insurance prerrriurrrl. as the case. he;
<br />I t!) ground rents, taxes. assessments, tine and ether ha/ard itisurattc; ;>tct:uums;
<br />(111) interest on the notc•'secured hereby; and
<br />(IV) amortization of the principal of said note.
<br />Any deficiency in the amount of anv such aggregate month!y p:tynnuit shall, unle -, [nude good by the Mort•
<br />gagor prior to the due (late of- the next such paynteni, coin lit art wont of delault tinder this mortgage. The
<br />Mortgagee may collect a "late charge" not ro exceed Ion: cents (4,e) for each doflar f 51) of each payment more
<br />than fifteen (I S) (13 s ire• arrears to cover the extra expense involved in handling delinquent payments.
<br />3. That if the total of rite payments made by the Mortgagor tender t i,; of paragraph 2 preceding shall exceed
<br />the amount of payment~• actually made by the Mlortgagee for eround rents. tax,- will assessments or insurance pre-
<br />miums: as the ca-,e may be, such excess. if the toxin is current, at the option of the Mortgagor, shall be credited by
<br />the Mortgagee on subsequent payments to be made by tilt, Mortgagor, or refunded to the Moritagor. If, however, the
<br />monthly payments made by the Mortgagor under (14 of paragraph ? preceding shalt not be sufficient to pay ground
<br />rent, taxes and asst men[_- or insurance premium. s, as the cac>e may be when the same shill become due and pay-
<br />able, then the Mortgagor anal I pay to the 1)ortgagee sty' amount neecissary to make up the deficiency, on or before
<br />the date when payment of such ground rents, luxe,, assessments or insurance premiums shall be duo. li' at arty C
<br />time the Mortgagor shall tender to the Mortgagee, in at- vordance with the prrisions of the note secured hereby.
<br />full pavment of the entire indebtedness represented thereby, the Mortgagee : -hall, in computing the amount of such
<br />11 indebtedness, credit to the account of the Mortgagor all payments made under the provisions of rut of paragraph 2
<br />hereof which the Mortgagee has not heCOme obligated to pay to the 'secretary of ]lousing and 1 rban Development
<br />and any balance remaining in the fund, accumulated tinder the provisions of !h) of paragraph 2 hereof. If there
<br />shall be a default under any of the provisions of this mortgage resulting in a pubiie sale of die Premises covered
<br />hereby, or if the Mortgagee acquire, the property otherwise after default, the Mortgatgee shail apply, at the time of
<br />the commencement of such proceedings, or at the time the property is otherwise acquired, tilt• balance then rvniain-
<br />ing in the funds aec•umuiated under (1,! or paragraph 2 preredinL, ii a credit jtgjlin>I the amount of principal then
<br />remaining unpaid under -aid note. ,and shall properl udiust ally p tymeuts she It hall Kaye bet >ra onadr vndca r;:1
<br />of paragraph 2.
<br />4. i -hat the Mortgagor will pay grouml rent,. %vies, a „r „men[:, s: tit le rote,. Ind other governmentai or municipal
<br />charges. fine,. or impositions. for which provision h;:, not peen trade heicint,efore. ;ind in ucf:,uit !hereof uhe'stang,,f>ce may
<br />pay the saute' and that the Mortgagor will piomptJc de!itcr the oBiciai receipt, third! „r to rile Mortgagee.
<br />5. The and
<br />evil! pay all luxe, u 1 h nor•: he ictrcd upon the Mt rlgagec ,interest in ,aid real esime mid impro\c-
<br />ments. and which may he Ictied upon thi, viol lk ge or the dehi ,e: tired h rchv ,hut mitt to t!.c e \Icnl That ,rich is not prohihif-
<br />ed by law and only to the extent that ouch ctrl! not m tke this loan uvuron,t. but c xcl r !nig Inv income tax Staic or Federal,
<br />imposed on Mortgagee, :aid w 111 file the o8ici i re, eip ht tern; ,tech p,1\ menu t,% ith the \i ig: gee Upon „olation of this under-
<br />taking. or if the Mortgagor is prohihiled by any !a +t noa or hert, :flee exr,fing faun pacing it i, o; hale or;Im p„riton of the afore-
<br />said taxes, or upon the rendering of ;icy court Jeciec prohibiting the pay nr•_tit by the Aiurtgagor or,mv ouch riac,, or rl ouch I fw
<br />or decree provides that any amount p;.td ht the Mortgagor sha`rI be credted nn the ntorl}agc c;c•ht. [he 1lorigagee shat' ha%e
<br />the right to give ninety d Iy,' written notice :e >.he inner of the mortgaged premi,,:,, ;vtluiring the payment of the mortgage
<br />debt. If such notice he given. the mot; dent anal, become due, payable ,inJ collectible .a the e\; irecurr of +aid oinel\ dais.
<br />b. Thai should he fail if, pay am' swn or keep any coven ant pmtided for in this blertga e. then the A1c?rtgagec. at its ap-
<br />lion. may pay or perform the same. and all c±:penditures so made ,hail he added to the pt;,i sum owing l the unite note.
<br />shall he secured hereby, anti shall hear interest it the rare set forth in ie said note, until paid.
<br />.. That he hereby assign,, trrn,frr, anJ ,et, ricer to the Nlorlgagee, n0 he appht :d nncard file payment of the note and all
<br />sums secured hereby in case of it dcf: :alt in the perforn.ance of toy of the terms inJ conditions of tins Mortgage or the said
<br />note. all the rents, revenues std income to he derited from the mortgaged premi,(, Jurrng such time :1, the mortgage Indebted-
<br />agent shall remain unpaid; and the. \lorigagee ,hall have power fu appoint anv agent or agent, it may Jesire for the purpose ebt of
<br />repairing said premises and of retains tire same and cullccunj�: the rcnis. revenue, and income, and it may pay out of said in-
<br />comes all expenses of repairing said prenmt es ;Ind nec•easary commissions and expense, incurred in renting ,:nd managing the
<br />same and of collecting rental, thercfro n: the halance renu-ining. if any to be applied toit::rd the discharge of ,;lid mortgage
<br />indebtedness.
<br />g. That he will keep the impros (merits now existing or hereafter erected on the mortgaged property. inbred as may he
<br />required from time to time by the Mortgagee against loss by fire and other hazards, ca,uallie, and contingencies in ,rich
<br />amounts and -for such periods as may be required by the Mortgagee and will parr promptly. when due, any premiums on such
<br />insurance provision forpavrnent of which has not -been made hereinbefore. All im,uranee shall lie carried in companies ap-
<br />proved by the Mortgagee and the policies and renew;ds thereof shall he held by the Mortgagee and 'hate attached thereoo lo,s
<br />Playable clauses in Favor of and in form acceptable to the :Mortgagee in weal of [(is, :Mortgagor t( ill give immediate notice he
<br />mail to the Mortgagee, who may make proof of let„ if not made promptly hp Morigiigoi. arid each nuurutcc ctanp;tny con-
<br />cerned is hereby authorized and directed it, make paynivw for such loss direrllc I„ the Morrg iiet m,tead of ru tr,e Mortgagor
<br />and the Mortgagee jointly, and the urvuraw.t. procc =;1, ur ,toy part (hereof, m x lie applir,9 hs tf c \fcrlga.ce at ii, option either
<br />tvthrreduction of the indebtedness huehy scoured or to the rc,tocatien or rcp;fir ,,f the property („imaged !rs (tent of loreclo-
<br />sure,of this mortgage or other transfer of title to the mortgaged property in extinguishment of the inde-bie(ine,s ,(cured hereh\ .
<br />all right, title and interest of the titortgagor ill 'Ind to any in,orance pohrre, then It, force sly: li lr,;s, to the pcnr ha,cr 01 yr; flee.
<br />W, That as additional and collatetat security for (lie pavmcrit of the note de,cribcci autl :dl aims to heroine thee tnicfet the,
<br />mortgage, the Mortgagor herchv :t arena to the Mortgagor all profit, . retie« ue,. nnalLr,- right, anti, 1•cr,et t aCCrtong tar the
<br />Mortgagor tinder vi and jil ,oil and 11.!s base, no ,,rid prcmt,r,. with the r1t.ht to, n cis • ;;nJ net elpr f, r Uic ua and .p; is
<br />them to said intichtedness a, well heft,re, as a' -defaoft u, the .ondrliom col' this mart I} 1, ,.ant! ,hc 4fortgay,<. tat ty na :inJ. sic
<br />for and recover any such pa, mvi9s when di ind pavahle. hot ,hall nor b. icquue,t •. ,, i fits "1141nlc of .,, r,•un,r.ate
<br />;and hecornc null and void a, or, te!cas,, of thls n :ottuaotc
<br />.J( l •, "I A 4 1A 1 ,i n); I
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