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( l ) month prior to its due date the annual mortgage insurance premium in other to provide such holder
<br />1049011 �arJ With funds to pay such premium to the Secretary if }lousing and Uihan Development pursuant to the
<br />5 National Housing Act, as amended, and applicable Regulations thereunder: or
<br />(it) if and so long as said note of even date and this instrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge On titu of -a morrtWe nuuranre premium! which shall be in an
<br />amount equal to one - twelfth (1]2) of one -half (112) per centum of 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 the premiums that will next become due and payable on
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (all as estrmateli BT• the Mortgagor/ less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such grrntnd rents premiums. taxes and
<br />assessments will become delinquent. such sums to be held by Mortgagee in trust to pay said ground rents. pre-
<br />miums. taxes and special assessments: and
<br />(c) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made.under
<br />the note secured hereby shall he added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the f.ilf ='xwmg items in the order set forth:
<br />(1) premium charges under the contract of insurance with The Secretary of Pousine and Urban Development,
<br />or monthly charge fin lieu rifmc,rtgcrge insurance premium,, as tire case ntay be
<br />(11) ground ren is. taxes, assessrttents_ tire andlothe, hazard insurance premiums:
<br />1111) interest on the nine secured hereby: and -
<br />(IV) amortization of the principal ol'said note -
<br />Any deficiency in tire amount of any such aggregate monthly payment shall. unless made good by the Mort-
<br />gagor prior to the due date of the next wash payinew. constitute an event of default under this mortgage. The
<br />Mortgagee may collect a -late charge' nt.t to exceed lout cents (-ctrl for each dollar (S11 ofeach payment more.
<br />than fifteen (15 ) tt: ys to arrears to sting the extra expense involved in handling delinquent payments.
<br />;i. That if the total of the payment- made in the Mortgagor under t?) of paragraph ' Drees rt. y rsx
<br />the amount of payments actually made by the Mnrtga - rt r 'zi—nu rents. taxes and arse emetics. or ins=urance pre-
<br />miums. a- the case may be. uch excess, if the loan rs cttrrent, at the option of the Mortgagor. stall be credited by
<br />the Mortgagee on substrquent payments to the made by the doer. igagor. or refunded to the Mortgagor, t£. however. th4
<br />- monthly payments made by the Mortgagcor under ; y; of paragraph 2 preceding shall not he sufficient to pay ground
<br />nett fazes and assessments or in trance premiums. as the rase may be. when the same -hall become due and pay-
<br />able. then the Mortgagor shall pay to the Mortgagee any- amount necessary to make up the defrcieney on or before
<br />the date when payment of such ground rent-", t axes. a se sments or insurance premiums ;shall be due, if at arty
<br />time the Mortgagor Mali terider to the' t•4ottgagee; in accorAmee with the prayi -ion- of the note - retired herein_
<br />full payment of the entire indehtedncss trpre -ented thereby-. the Mortgagee shall. in computing the appoint of :arch
<br />Indebtedness, credit to the acccwutt of the Mortgagor all payments trade under the proyisrons of !a,a of paragraph 2
<br />hereof which the Mortgaget, has not become obligated to pad To the �ecretar3 of Housing and Urban DeveloIxive rt
<br />and any balance remaining in the fund - arcuntdated under the proxisirms of t�3 of paragraph 2 hereof. If there
<br />shall be a default under any of the provisions of this mmtrteage resulting in a public .sale of the prEmi es covered
<br />hereby, or if the Mortgagcae acquire- the property otherwise after default. the Morin agee "stall appl }. at the time of
<br />the commencement of such proceeding; or at the time the property is otherwise acquired, the balance then remalin-
<br />ing in the funds accumulated under (;,) of paragraph 2 preceding, as a credit against the amount of principal then
<br />remaining unpaid under =aid note_ and shall properly ad}u4 any pay'melm -s Ahich, hall !lave been made aziler tap'
<br />of paragraph '.
<br />8. That the Mortgagor will paw ground .rem.. taxes_ a:scysmenti, water rates. and other governmental or municipal _
<br />a;ra.ges, fines. or impositions- for w hich pr�avi,io a ba, ni=t Item rrt herembefore, and in default thereof the 1s, ingagee may
<br />pay the same: and that the Mr: rigagew u ill prompt[~ deliver the official receipts therefor it, the ilortgagez.
<br />i. The Mongagar will pas all t:,xes K hich max tv ievied Upon the Morig4mc's interest in szid real estate and improve-
<br />ments. and which ma} he levied upon that niongalwor the Jelht secured hereby.bui only to the extent that Such is noiprohiSt-
<br />rd by law and only to the extent that such will not m ie this loin usuroousi, Na excluding ;my iriorme tax. State cr Federal-
<br />imposed on Mortgagee, an.. will file the otuc X' seccipu sfuew:rW such p tstment w arh the Mortgagee- l'pr *n Violation of this, under-
<br />taking. or if the Mortgagor r is prcxfitbited b4 any Law nou or hereafter eustrng from paying the whole or any portion of the afore-
<br />aid taxes- or upon the rendering of ant court decree pre oolong the par latent h% the Mo rtan!!or ccr am such taxes, or if such law
<br />or decree pr oN ides that any amt un:.o raid t-N the 11oricatrot +haw he the
<br />tin right to give nincty clay, witterr rsiuLe rr, 1he owner of the nortliaged premises, requiring the payment of the mortgage
<br />debt. if such notice he given_ the .rill dehi shall become clue, }tea } "ah9c. r t tr,Alc able at the ezpiraticin of Barr) ninety day..
<br />6, That should he fail ax peas anti sum all keep xny c vs, n anT pZrv.4deii for in the, Mortgage. then the Mortgagee. at its ap-
<br />tion, may pay or perform tfie .same. and sl1 exp Luditurce _. , made shall he uddcof to the principal sum .owing on the ai+ ve n te.
<br />shall be secured hereby, and hall hear interest at the rate et forth ire the said note. until paid.
<br />That he hereby_ assigns- transfer, and sets offer to the Mortgagee. to be applied u,Aard the payment of the note and all
<br />turn, secured hereb% in else of a default in the performance of any of the arms and -- ondinons of this Mortgage or the said
<br />crate, all the rents. revenues anti income tone denyed from the mortgaged premisesduring <uch time an the norrgage todebtexl-
<br />ness shall remain unpaid, and the Mortgagee shall have po,wcr to appoint any agent or agent, :1 malt de,uc for the purpose of
<br />repairing said premise, and of renting the same and :oIlecnng the rents. revenues and ipcome. and it mat pay enrt of ,airs m-
<br />iomes all expenses cif repairing said premises anti necessary dommossions and expenses incurred in renting and minagrng the
<br />tams artd of catileetmg rentals therefromr the t aiance rrnozimng, if any. to he applied tow :.rd fin discftarge .af said mortgage
<br />indebtedness
<br />-- N. 'That he will keep the improvements cow exrsttrtg_ +xr t±eteafte-r ere'cIeci on the nolIttgagcJ ptr,pert3, insureoi t mars he
<br />egurt l fzivrn nm� to eir�n; h. >ffW St.xn_ ___ Is.- w�e --.4 ..t-, ba.�'� II _ _ � i, sic:
<br />amounts and for such pemid, as ma} he required M the Mortgage and will pav promptly, hen duc, any premium., on suih
<br />insurance pr +s titan for payment of which bat not been made herembetore Ad insurance .hall Ise carried in comp me, .cp-
<br />proved by the Mortgagee and the pxAhaes and tenewaN thereof shall be held by the Mortgagee and box a attached therms* 1c1,.
<br />payable clauses in favor of and in from acceptable to the Mortgagee in ctent of loss %fortgagor wilt give; immediate o-xtr a i..
<br />mail to the Mortgagee. ulro mar make proof it( loss if Troll made promptly txs Mortgagor, and each insurance comp +ant, on
<br />tuned i$ hereby authorized armd directed to: make payment for sucb toss dureculs its the Mortgagee instead of to flit 1f,rrpg �cr
<br />and the Mortgagee poiatfy. and the insurance proceeds, or any pan thereof, may be applied by the yiortpfa*,ti at it, opts n either
<br />to tike reiluctx,n of the intfchiedrtess hereby yecured o t tea The rrsicueikin or repair of the ptoptio d.tm.rgrd lnevrrltt4fi raio
<br />rcuerr'I flute mot Igattr or other transfer of title to the tnort9*11ed prcipetty I n c xunautohmeof o+t the tndchtcdries ca urr,i herco
<br />Ail TWill, ntk and interest of the Mortgagor in and to amv tnsur -rive polaris, then in forcr hall pass icy the pi:rch., c4 cx ,:ranter
<br />Y. That as aJdawriil wend c,Htarcraf sectmry lair the for heat of the note deN'nhed- and all ,tint, +n iv, zit diaat uruiti this
<br />mottgaite. Elie Mirtgagim htreht .„ign: to the Mortgagee art ptotirs- r"eiv, en aisi:aftres.. fight, trod t+enrft l- .)c..tiofig i. -, the
<br />hitittgAgot wider ;ant and all tar, afVJ g;as 1eawk rill; yAld pirtnisr" etch the rrR?,t to rc`cr° v-R "od nesoipi fee rile ,.i=reV Owl nf, -t*ia
<br />diem. N � a; -.Cli t rfc;xr..a< �ftrr a&ttateii to .tn,•,:.moltio"nt "t aPt• �,*�=rt a�,c :�as�l SiSe \t i i�t,t c: m ao zJe m -,t,i svee
<br />?,,t .n,9 TS, ,,n, =o, ,t; m. urge...hero due Old a.ahte. but -,hAl n:,e i.c rev +a•x,.i - lt,i. „
<br />F p . <ti- ••;xr »a,iTrat e. s., all ., a: -sic
<br />.4.d lv vi eft orw :t>,- a ao.t; T,w— r , =f On, morfitarie
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