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86-10395
<br />(I ) niontll prior l'o its due date the i muuai ��... e 1, p .. -iunl In order, it) provide sued holder
<br />With':funds to pay such premium, t ahe � lofaf)' fzt Iitlusing arod Iirhan Ikvelopment pursuant to she
<br />National Housing Act, as amender!, rid applicable Regulations rt erelrnder; or
<br />fil) If and so tong as said note of even slate -and this instrument are held by the Secretary of )lousing and
<br />Urban Development. a monthly, chatge (in h u of a mortgage insurance premium) which shall be in an
<br />amount equal to one - Twelfth I If 12) rd (,me -half f_I',) per centum of the average outmandingbalance
<br />due on the note computed vvili-,oul taking int i account debnon rcfes or prepayments;
<br />(b) A sum equal to the ground rents if an, due, plus file p c uiurns that will nest become due and payable on
<br />policies of fire and other hazard insurance covering Me :.. „nk3gic lk..?,.:tp, plus tares and assessments next due
<br />on the mortgaged property /alt as'estin[ared bit, the shit jge , Ir_s all Burn; atteadv paid therefor divided by file
<br />number of months to elapse before Line month pclot I:, the dAi” When SLWil ground rents, premiums, taxes and
<br />assessments will becorne delinquent, such sunis to be heio ;;y ktorjeltgce in trifst to pay said ground rents, pre-
<br />ridums, taxes and special assessments; and
<br />(c) All payments mentioned in the two preceding subsection, ia „us•parsgriph and all payments To he inade under
<br />the note secured herehv shall be added together. and 11 eIZI4 te 3n1oa r i .,., :co; sisal) he ^aid by the Mortgagor
<br />each inurlth in a sfngte payment to he applied by fli yfartgaree !o The !fll ,,vr Ie :tools in the order set forth:
<br />(1) premium charges under the contract of insluaarc , itfi l I( 1�ecrc, w. +. t {lousing and Urhan Delielonment.
<br />or mcnthly charge fin lien of mortgage insurance prem,unr,', as 111 ;r>: inav be
<br />(11) ground rents, taxes. assessments, fire and other ha: ,tai MSIWsrrc,- prcmmnis;
<br />i III) interest nn the note wcured hereby; and
<br />(IV) amortization of the principal fit said now
<br />Any deficiency in the amoqr of, any such as'E,;etaTe tn'� +'I' L :ncni shall. i n{ess made bond ba the Mort-
<br />gagor prior to the dae date tit the nee! such ;pavinent en eterit '.II deiauit under this mortgage. i`itc
<br />Mortgagee may collect a "late charge" not to exceed tt ar cents ( +;ti tor each dollar (S) } ofeach payment more
<br />than Fifteen (1 S) da vs in arrears to cover the extra exliL!RSe I n vcc in hardline delinquent payments.
<br />,. That if the tLitil{ 01 the pn ant!•[; t.i RY,kdP by tl}e L> l 1 (!Of . ''ed r
<br />the amount of payment, actually made by the :Mortgagee for vround rent faxed and 'e= sment.s or insurance pre-
<br />mium, as the case may be, such excess. if the loan is current. at the• ulnlon of the Mortgagor, shall be credited by
<br />the `.mortgagee on s'uh =egtl payments to be made tt the llnrlLlagor. ;ir rofunded to the Mortgagor, If, however. the
<br />monthly payments made by the Mortgagor under o - of par.rgraph :' ilrecc'dtne, "hall not he sufficient to play ground
<br />rent, taxes and assessments or insurance prennUnri-, as the catse may- ism', '•then. the =amc 'hill I become slue and pay-
<br />able. then the :1lortggor shall pay to the 1{ort-,agee anv amount n! t ca-nry to make up the deficienc•v, on or before
<br />fill- date when payment of such vround rent: <. tax! -, asses -ment- tir in:- ftrance premiums .shall be due, If at any
<br />time the Mortgagor :shall tender to the 111n a> ct•. in : #cr(lrtianC.' "idi the pru\i -inns of the note secured hereby.
<br />full payment of the entire indebfednv-- reprt:•senfed thereat . The Inn �agcc _ -111111, in computing the amount of such
<br />indebtedness, credit to the account of the Morigagor . 11 payments made under the provisions of r;r) of paragraph 2
<br />hereof which the AMortgagee has not isccame obligated to pay to the of dousing <nd I,irhan Development
<br />and am balance remaining, in the fuml- accumulated under the proviraon- of i, of parieiaph _i hereof, if there
<br />shall be it default under arty of sift, pro \r -ism- of till- mun..:i o re- shim., in a public -ale of the premises Covered
<br />herehy. or if the Alortga,neis acquires the nropr•rty other"c. after dr•faulr-, the tilort tree shall apply. at the time of
<br />The commencement of -nch proceeding, -. or :u the time the pnlperi\ i- r.ther+,i,}, acquired. fit(- balance Then refnain-
<br />irig in the funds at't'Umrfit tell Min dtl r it +r.1F;r tpb 2 girt t i tilt f„ l i it'd t till ainlotint of prinvipid then
<br />remaining! unpaid tinder -arid not),, ,twi _.hill drops rlV lu7Fu f .nit tit tt!f -hail .lave beell niatlf' onus's !:1�
<br />of paragraph_',
<br />That the Mortgagor w!li p,, er-ind eats t,t;r, assn „:nelu c,.._nd other go,crnmcmai .;r Tnunicipad
<br />barge,, tine - or impu,irion,, fir ` htch pit ,, 1111` t:.}, nu! heft code hi, a i.c. ,nd In cicfauli there,,! the Mortgagee may
<br />pat the -iirues and that file \lungagur `., iii c i, "tl; "Ch '.'r thr ` "its,. ... .I;t'• Ihcr'f,,, tr thr l;lrtgalgee.
<br />i he Vi,rtgsgo; a Ili pap adi lax!, ,a hi, t, li.,, i t .C, fell ui-on Hu iivrcagce , :Ml!F',i In ,dill ill .last iriprove-
<br />nrerlt,. and, uluch niai be Icyted uptm shr, n ntg;.::C . 1ne ,fell t - ,",led ! ,fet-, rrnr :::,It t: The extent that web i' n:,l paohinil-
<br />ed hr law and : my t;, the evtent tfai ,Lillis ,rl!i r,,.,, : . -xc ittr..t a t t ,t.nru, _ I,w c v:;uan•� am, !ncnme uiv, 'itnte yr t edera:.
<br />lillr0i,ed on Niortgag,c, :ifld trill The tht' „rlli i•i.. C,elpl ,hi —inn ,sigh ,^ .. 'r 1'I .%!ill thc "`:i 1.,r{t.s,;L'l Uoon ,iofaron of thi, otiocr-
<br />;aking. of if the '+long :got i, prohiboC,i h'. ,fin :,,'a rnx' or her...! *., t ,1 ?nit: trtun::',a,mg the whole Lt. am purtlor ll the afore -
<br />,aid ;:Lie..,': span fire rendeltrig (: an, cos.. „t<r..: ; mmiaunc,h, p } le'lf hi the .MmTFagur or ally ,Lich r•:cr,. to i!'uch last
<br />ordecree pnl,ide, that :,nt AFTIOUnl ,i, p ;rc H •hc M fig"gor ,ha; , .;hied wt the frfortgihe,iehr. the Alorgt ec,h:,il llr e
<br />the right to give nine!. day, •S;!"n nou,.e !i, the r.,'le, tai Nil r,Irt.rt;. rJ p tcfmse,. feyumitg the paynieii o' fat .,,` {stage
<br />debt. If sach notice tie sneii.!hr ,,,id Mich! h. ;Il hecolile ,Jut. pi!,:II f:: old orlleCnbfc r the Cxptrition (if s:ud ninet', dan,
<br />6. That ,houid he fall of pa} ain wRl r ilex,+ lo l', plc !,1,_d t,,T uI flit, Mortgage. !lien the Mortgagee. it it, tip -
<br />li<,n. may par or perf„rnl the ' ,I)C and a!; cxpelt,IF7ures ce mode ,haft he ;,dded To rite principal cum ,,wine an the A,o,e 11"1x.
<br />,hall he oeCUrexl hxieh',. ,111:1 ,h.ti! 11tat niter,,', Lit the !',ate ,e! inrth in the said n,ne, nRril p;nd
<br />- *lhal he hereh: <r.,tgn'..'an.,fe.r- Jill: ,eta o•,cr io The \•loftga,gce. ie be appitcd toward the paymara Ill Ill, rl"Te Irld all
<br />,i ,
<br />,um, Secured (TCCei'l in l.i , . ..:iCl.lui: !'l i'ic rear t r.l1,.Ce' �, :Mil Of dw lerol, all) �. ondii:on, of hiI ?f Ol Ignige � .` file Said
<br />note. AT the rent,. re, emote• vnkl incaTlc io he t;rrr�c,f iruri The i •r!gaged ; Tern!,.' c'. irinii '.Lich Tone a, The mortk g • nidchted-
<br />sies.s shatl remain urtpwd. and 'he AT -1t @agcc -,ail hale t,aucr i,, appilml ; ;", �fgcfi; t,i agent, it ma; desire for The nurp„se of
<br />repairing said premise, ;4tid of remmg {tic "1i" �n(I a•llxcnr.t lhC tens-. ill e ++nc'..ln,i 111,0 ale, and 111 mat I:.rt Lint Of card In-
<br />come, all evpence: of repairing said prem;,ts and neee,sary C"111:711"inn, and exprnse, incurred in n•nting and Inamaging the
<br />same and of collecimg ientatls thrrrhmni the ::lance remaining, if an , he aipphti'd t,xvurd the k i,chilTpc of ,aid mortgage
<br />indebiedriess.
<br />N. ')hat he will ketp the nnpra,,.eetent; nwk L +.stun! nr hert0ler vic hl,i on the rooms ieod r•rnperrv. in,,nrcd :i, alitv he
<br />� 911 = =, 4 lll )t'' t. reWittcd frrlrr !l1le TO fee ;'Qv• ; r . . , ` -illh
<br />ilrrloont,i and ftlr ,11,11 per'Od, a, mitt he requited h\' ih; � ';U t,ii' .. 111 ltl, � it fl d;1C 1',i pr;.'I11141r11, Olt ,.;,:h
<br />In'Urdnce provf%ion for pavoiefit of khieh ha, now het;.: 1n,tde ;!C.r,;rti, IIre All tl ':t.!:i,; flni! TIC 4. ;eta Ill =nip. ?Ille, ap
<br />pct tcd i,y Thl : tUrl iii ' :it!kl file p(%,..1,', . nil <t:C ,1 fiert- i it J! . , ,Wi , l t f, fi <';t i' l::d I,,i c .. ::ti l,t'v Omet, 4”,
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<br />!I'I fli 5'111 t,f NnIF� in t<`P ill - i,ri l!' I -; 'hC ,tt!t l.�t..t: :1,; `f l t, \t.,l tic lgof ,'. ilr 6'ilt a
<br />mall to tire %lorTpgeim. vihw nfav make Proof it i if nfi 7 )lit It r it fl t,% bf rt ? 11 c Icf Iii, It lnlf , rtip n\ t ifl-
<br />4erled i, herefs 1 th i f Ili nir<4- J it it 1 l l.„ tr -1Iv t ff 1. - v g e i I 111 f i' fit \1 ,rrt 1i,,r
<br />,.Od nr 11oril!"Ve. _ ?niit ntl the -ref -( r t t)
<br />tea rt+ =ecfu.:rrs,r., t=i the miiehledr,t • !'era., trt•tt , fif the r .,,,axis r , 1 n »a- t .< ., ._..,.`art+.; Inc ef., of for;, :I„
<br />rC of IITIN fjttl f r I IT i ?lie! If 10", of flt2r` tt+?i,i .1,.t!vt. 11'41, r,r— Ii ,. +.x110, 1. rt i,._. r, tom., _isle.; tic, l+l
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