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<br />86-- 10300' 8�-YO s
<br />(i I month fir TO r:s tl't_ ..ate the arr�u,u , e to artier .o p,ov.de sdc.r tit>1Ser
<br />with funds to pay such premium to the -i- Housing mdI I ;rbatt Deve!opment pursuant to the
<br />National Housing Ace. as amended, and apglieai~le ltet;uia?ions Lher :d :o_Itr- or
<br />(fi) If and so long as said note of evert date and this insuutrienr are held by the Fecietary' if tinustng and
<br />Urban Development, a monthly charge firs lieu i>r a me—gage fnsurance premium,, which shall he in an
<br />amount equal to one twelfth (lil3) of one-lialt H!21 per tent urn if the average outstanding ha lance
<br />due on the note computed without ta;i it .n o a,:courz d hnquer t s ,r p cpa rments.
<br />(b) A sum equal to the ground rents, if any. next due. plus the p; nwifn, that 11 tie t ceceme due and payable on
<br />policies of fire and other hazard insurance covering tine wwtgaged ;Jr pert*- . i :lus taxes and assessments next due
<br />on the mortgaged property (all as estrmatea rr rite ,tforrragc�,i :ems :,i! s„n :.aL� ady paid therefor tiivided by the
<br />number of months to elapse before one month prior tit the 'aat� V-11,-)l >J:h n,Md rend, premiums, taxes and
<br />assessments will become delinquent, such sums to be taeid by kfor? %gee in :rust to pay said ground rents, prc-
<br />miums, taxes and special assessments. and
<br />(c) Ail payments mentioned in the Two preceding subsections of thls•p : : :agr..nta and all liter merits to be made under
<br />tine note secured hereby shall be added together, and he a;greea,: r. ,tall i . ,',� s, II u: Paid r , t1m M -•t-1 agor
<br />each mocth m a sinide payment to be applied he ti c• Mortgag :o tic t , ;.vote. :t v rrs in I ionic: ;et forth:
<br />{T) pretmtun chas es under the contrict f ?nste t yirit sec :e ii '. iicusirte cut! f icait 1 '4ei p1 Cilt,
<br />or morulily eaafge ,!M lieu of murtgage insuranc.. the c,rsr may be:
<br />(11) ground tents, taxes. assessments. fire sod tnici liana: insurance predaaur, ,
<br />(111) interest on the note secured hereby, and
<br />(IV) amortization of the pwict pal of said rote.
<br />Any detic:iency in the amount :d any sduch it, re;a'e atu nh!, .ta'r:nccit .tta!, ;unless made good by the Mort-
<br />prior to the due date if The Text ,lien an t:ve t ,_ ,4 ileiatjtt under tilh rrtor :geaoe. The
<br />gagor
<br />Mortgagee may collect a late char;e,. not to exceed four rents 14ir ?or cat., dollar r S I ) of .rich pay'rnent mote
<br />than fifteen ( I S t clay s Tt arrears to cover the cstra exper;k involveei in liwnulm.., delinquent payments.
<br />That if the total of the payments made !ry d;r Morti,a,•nrttnder' , o' paragraph '_' preceding =hull exceed
<br />the amount of payments actually made 1) the MortPg( +: for ,round rent.-. Taxes and a. se- sments or insurance pre -
<br />miums. as the rasp may he, such excess, if the loan i, u.,runr. at ,re option of The Mortgagor, shall be credited by
<br />the lfortgagee on : >ubsequent pa.)meni- to he ;made be the Mort, a or- or rcfandt -d to the Mortgagor If. huttr'•e•r, the
<br />monthly payment= made by the Slongagor under ' of par igraph _' pr ccdinc shill uc t be suf` c e tt to ground
<br />rent, taxes and assessment or insurance premiums. a= the ca =e may +e. ,il,en she . amt -halt become due and pay-
<br />,
<br />then the Mortgagor shall pay In the Mortgagee anv amount nec essary to make up the deficiencv, on or before
<br />the date when payment of such ground rents. taxc assessment= or insurance premiums shall be due. if at anv
<br />time the Mortgagor shall tender to the Morigagee, in accoirdancc eJlh the prcyi =ions of the note secured hereby,
<br />full payment of the entire indehtedm - represented thereby. The `to t„a_t•e -hall. in computing the amount of =uch
<br />indebtedness, credit to the account of the Mortgagor all payments made undcr dic provisions of it of paragraph ?
<br />hereof which the Mortgagee has not become oLligated to pay ua the :-�c•cretary of dousing _rid ( than Development
<br />and :m} balance remaining in the fund- :accumulated undcr the pro%i ions Of i'r of paragraph _a hereof. If there
<br />shall be a default under an% of the provi -= ions of this mortgage re _ulhn" in + public sale of the premises cnyered
<br />hereby. or if the Mortgagee• acquires the properh othor.ai -r after default, the Mort airee shall apply. at the time of
<br />the commencement of such proceedinizs. or at the nmc the properh t- othenti c .cduired, the bal.nei' +nt'n rem =tin-
<br />ing in the funds accumulated under of paragraph ? pro cedin -. " a cr+•d a t aiflst the amount oI print .pal then
<br />remaining unpaid under said now. and -hall properly adlu -t any payment -.hitn -h.tll h:nr liven made unties •a;.'
<br />of paragraph "
<br />4. That the Mortgagor will pay ground rents. Taxes. :a, cssmtnts t .cr rate;. and other _,o%erwnenTar or inumcipal
<br />charges. fines, or imposition,. for ythich pr vision hits not been ,nade hereiphctore. and in default thereof the Mortgagee mar
<br />pay the,ame. and that the Mortgagor mil prompt? } del), er the official receipts therefor to tLe Mortgagee.
<br />5. The Mortgagor will pay all taxes which may .c !Dried upor the Mor gaeee s mteie t in said i c ,ate and inirroye-
<br />mcrit,. and which may he levied upon this mortgiq,c of the dcht secured here``y !hut only to the extent that uch i n t Mohihn-
<br />ed by law ant cmy to the extent that such il! m,t make this Iran u,uriousl. hilt excludng at:y income Tax. ste e ,,r Federal.
<br />mposed on Mc rtgagee, and will file the otlicia! receip! showing ,uch ^.at meat w ith the Mortgagee tree- L'pnd yuc lauun of this under-
<br />taking. or if the Mortgagor is prohibited by m Igo, now or her ntu cxasune from p yang the,rhole ur, any pt,rtion of thr . fore-
<br />said taxes, or upon the rendering of am court de:ree prohibiting the payment I,% the Niiirtgagor or arrc such taus. or if ,uch iay%
<br />or decree provides that any amount so paid by the Mortgagor shall he credited on the mortgagt debt, the Morrgagee shall hacc
<br />the right to give ninety days' written notice to the owner of the mortgaged premises. requiring the gagmen of rho afortgage
<br />debt. If such notice be given, the said debt shall become due. payable an(! aollectihic at the expiration of said ninety day,.
<br />6. That should he fail to pay any sum or keep am covenn-il provided for in thi, \tort; ate. :it At the Mortgagee ,:t it, op-
<br />tion. may pay or perform the same, and:dl expenditures so made shall he added to the princiral st-m owing on the ahoy c note.
<br />shall he secured hereto'. and shall hear interest at the rate set forth in the said note. until paid.
<br />"that he hereby assigns. transfers and sets Dyer to the Mortgagee. to t,c applied toward the prinnent of the note and all
<br />sums secured hereby in case of a default in the performance of am of the terms and condition, of this Mortg roc or the said
<br />note. all the rents. revenues and income u, he derived from the mortgaged picnnses during uch Tune a, the rnorig arse indebted -
<br />ties,, shall remain unpaid: and the Mortgagee ,hall have power to appoint any agent or agent, 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 all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom: the balance remaining, if am to hr applied Toward the discharge of said mortgage
<br />indebtedness.
<br />R. That he will keep the improvements now' existing or hereafter erected nn the mortgaged property, insured as may be
<br />required from time to time by the `Iorlgagee against loss by fire and other h:v rd, casuahies and contingencies in such
<br />amounts and for such periods as may he required by the Mortgagee and a ill p:} pr mptly. +then thic. any pretniums on such
<br />insurance provision for payment of which has not been matte hereinhefore. Oil insttrmce shall he carried in companies ap-
<br />proved by the Mortgagee and the policies and renewals thereof steal! he held by the Mortgagee and hays :dtached thereto loss
<br />payable clauses in favor of and in form acceptable to, the Mortgagee. In dent of lo„ Mortgagor will give mrniediate notice b\
<br />mail to the Mortgagee, who may make proof of loss if nn: made promptly hp Mortgagor, and each insurance company con-
<br />cerned is hereby authorized and directed to make parinent for ,uch loss; directhv to The Nortg :agce rn,tcad of to the Mortgagor
<br />and the Mortgagee jointly, and the insur ncc ptocccd or ar:} part hc!v i .nay be pt lira! by the %lortgagev at n of nori either
<br />i.unas,c a
<br />to the reduction of the indebtedness hereby secured or to ,the restoration or repair of :1 c pn.perr In c to ni of orec!o-
<br />transfer of title to the mortgaged pro ngut 1 i r o te inoe c ccu c here hv.
<br />sure of this mortgage or other
<br />all right, title and interest of The Mortgagor in and in ,am msoran e poll. -r . n in it r t r r. p he t n I i cr r gr i ore
<br />n
<br />9. That its :a dditional; mdcclliteral, ectnit yfor the paymentofthcr.ottdr,ciii d ai ua t to tic lot n e this
<br />:ea
<br />(0)
<br />mortgage, the Mortgagor hereby assigns to the .Mortgagee all profits, recenoes- r y Itit,. r till or i c ietit, . Tiling to the
<br />Mortgtagor under any and atl oil and gap, teases on said premises. with the Tight t r eu t . r c: { he ri.nc ar i apnP.
<br />them to said indebtedness a, ..01 isefort a, after dcfauh in the condition —if o i e c .. c s1 ,rieague ri , na ,tic
<br />for and rer,,ycr :iny uch � ,Ticnta 'k hen clue ,,rid payable, but ,ha!1 no• !,r rot ,a .,.. "ignmeoi i ., e-nnn.,lc
<br />ind become null a it ,{.t4WAgA,c • r ni. nuxtgage
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