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86 105110 f, T l) niurith I,tit , its due date the >mivai ii : t :e ut..itiance iitstiitiia its . rder Io provide such holder
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<br />with fun s ttk tra}° such premium to the Secietary of Housing and t ibin Development pursuant to the
<br />National Housing Act, as amerded, and applicable Regulations thereund-r: t,i
<br />(11) if and -it, long as said note of even date and this instrumerm are held by tile- Secretary of Housing and
<br />Urban devekoprnent, a monthly charge fin zizai <if'ra mortgage instintnce pminiumj which, shall be in an
<br />atn€,unt equal to one- twsitth (IIi2) of one -Ball I r) per cewum of the average outstanding balance
<br />dote an the note cmnpured withtout tutng Milt a cram[ dePtiqueno" or prepayments,
<br />(b) A suet equal to die ground rents, if any next due, phis the piemium5 that will next become due and payable Sri
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<br />. policies of (Ire and other hazard rnSUrance coveenk the mortgaged ptoperty, plrmtaaes and assessments next due
<br />ail the mortgaged propetty 4afl as esti ?rated bi' fire =ff ,rfgatgce� lest all suns already paid therefor divided by the
<br />number of months to elapse before ohc mouth prior to the date syhen such ground rents, premiums, taxes and
<br />assessments will tnxorne delinquent, such aunts to be held oy Mortgagee in trust to pay said ground rents, lite-
<br />miums, taxes and special assessments; and
<br />(c) All payments mentioned in the two_.prrceding- subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the M ort gagirr
<br />each - month -m a single payment tole applied by tile Mortgagee to !he follawing firms in tiie order set forth:
<br />(1) premium cliaxss uncle; rite e.artlract of ursu €ante with the Secretary t&fiousing and Urnan development
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<br />or monthly chat rv! .t heir fit !n origa -g a`.trsirt"ICr prenlhiatt,', as rite caw may tie:
<br />{ill ground rents. taxes :t5sessawilTs, lite and titlirr hazard insurance prern.iums;
<br />- - ( ill) interest on the twat; hcrrny: and
<br />(IV) amur'tuation if The prinealra; tit stir' note_
<br />Any deficiency i. T the an nuvr of ar,t snit; a$g'?Cgate r oliflily payment shall, i€nless made mid bv the kiort -
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<br />gagar prior to the due date of The neat such p,avnr-cr,:, t_.istiture an event of default under Otis oloirgage_ The -
<br />%forts;agee mas' :ollecl a "far,: Charge" -not to ex, y. 7' e tvw's' t-�✓l for each dollar (t y f 0' each payirlen. more
<br />than fifteer: (1 s s it arrears ti` cover Lire extra e Xpefise imr lved in handling delinquent tayuients..
<br />I'hat if the total of the paymentti made by they Mortea or sander 'fi ; o_f'paregraph a preceding =hail exceed
<br />the amount of payment- actualle made bs the 5lo4itagee Gir around rncrtn, laxv - and as e- -ments or ins=urance pre-
<br />Tire-
<br />mtum =. as the cake may be. Lush c- ,ccss. if the loath is currelkt. at the opci.m of the Mrrtgogi, _shall he credited Us,
<br />the Mortgagee on sub- equem' payment- it) be made fit the Nfortgagor, or refunded to the Mortieagor_ if. bowe%er. the
<br />- - lonthly payments made by the kfortg.igor finder :- of puttegirxph- ' precc -ding Shrill nor for imifr tent to pity ground
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<br />rent, ta.%v� and or illiurance premium. -.. as the t.i a ma% tit• _l1hert the -:4me ^hall become due and 'pav-
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<br />:able then the Mortgagor -hall pay to tire Mortgagee :trey amount nc :r'e m,ary to make im The defrei €sniff, on. or b_ efory
<br />The date illicit payment of surh areunr,f rents, iaxv , 1'�q•�. :'rnent4 OT in- uranre=lirem am,.• - hall -be, due. If at any' -
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<br />Time the Mortgagor shall tender to the Aiartgagee, !it accordane'e nilh the pnoiisit €n-_or the note - ecurcd here_
<br />full payment of the entire mdpbtcethrt »� refire -ented thaaeh'i., the iksrtgi Yee - haill. in ttumputing the junnunt ilf '-welt
<br />indehiednr -sv, credit to the aeciwnt of the Al : Ii:a):ncnta arl.ie us:i:cr fits r royisirirts of ii; cif paragraph Z
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<br />.Mortgagor
<br />hereof which the Mtortgagee has not become obligated to pal' to The s c rt tart' of Hciti <int! and f than Devciopimcvr
<br />and :in% balance remaining. in the )fund; accumulated under the prrisil__ nix of ( 6) of patagr ph 2 hereof, If there
<br />�y
<br />,hall he a default tinier any of the provision -� of this mortgage r"ulfing in a irulifit Mile of the premeres covered
<br />herebs. or if the Mlorigagee acquit" the p p it' +.ttth4Mxsist� after_ defrutlt, the :ilmusipt'v .hall apply, at the time of
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<br />the commencement of such proctedrn; . or at the time The property, i- fotheriyise :acquired, the balance then rt4nain-
<br />ing In the funds a ccumulated under ! `:j of paragr :tph ..a p ri'r eillnrr. a.� :f t'ti'.dit ;i aim. t the amount of principal. then - -
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<br />remaining unpaid under -aid mote, and gall proporll arFu --t tuck pa meni- -which --halt hale hetti mudo ur'der tai
<br />of paragraph 2.
<br />,t?
<br />- - - v. Thin the !klorlgatar Lull pail gr. *andc'fiE4. iiiies, .tw.mt.m+.i .t'F t`. s�t,wtc't cafes, and a1r}ter oil r(.'rnntentlil or municipal-
<br />charges fine -, of mipositi ink, to. which i,c.k, ;.;,. x.. ,' t :v,.,t : Cu cf ;arm ,., dkf f the- :cif the Mktrlgagee nta -
<br />pa) the mne :, and Thai the Ki?l li'� % iftc'111i" �iO the-. -�I "i l" €fte Min`:siee'
<br />-?Turvt
<br />\ the M ortgagor'%tif pax li i %E S Z ri "c it'i upon the N1nFti. r;Vv lruvi ml in 'Yid refit: e \t kte. and ifi!prnke-
<br />'. nienls. and 4thii.h mac' be leNieui upon !hi, nwrlg.'rc U. The jt. t'e'. UreJ hetcbs tt�w _Intl fit ?#3C extent [bat such r5 not prohibit-
<br />ed hti fall, and ;only Tat the e- *.tent Thai suzl'l ;.s'ill t" make thi# i° *ar) c. rfi :�tst r, Nit i,,xt itating zn✓ mcome tax, State or Federal- - -
<br />.imposed
<br />in Morigagee. :tnd "ill file the o;'k €'i:a? r�ti fipl btT irk iriC `�;P.. ti f'a R' u3knt With the Mortgagee'. l.I,pon violation of this under-
<br />taking. or if the kfrir'lgal'Of is rl'Ohii -Iled 11 %' an% i.rit no v, or hercrfter eitmrin from rah ing The x'hole or any portion of the aefire-_
<br />. i3ltr taxes. or upon ncc rentivring i'if ".flit' i'ourt Ciecrec k.rtinihlfin: The c=all 47-'eat : "y ttii'kftirtg,€Lt1r ire, €ny `,lle`li to k{;S_ or if tint "h raYY
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<br />or decree prat ides that -m iriounw kf ht the Mortg, gt T mbuil , _c : Vedaek ' tear y*; rte ayf itviu, the iortgagee shall have
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<br />the right Iki gike 1imct} Ja%" %1iltver Rattier tit the oune ti` the '-n yiej ed ; -n i e.. : -count: the p,a }meni of the slorig;ge
<br />debt _ If %lll h fit liti e be gr %Cn. !hi' ti.ak "s deft tihl, t t :'rt7e'hic 1 e [ ;t l ` tj to r.. ii ° }Fd iii' i °f :3.d ninety days.
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<br />fi, that +tiaulal -lie t:€ €l tt p::'v :=iii -'um of ke:'f :..;iL �. } �„ .. ='- :, _ awe ix .fir' dr1 tit ?'^ k't l.i�_.igt Fht`.ii tfit" NIAYCtixigr_€'.. a r 4 ifp-
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<br />uton. lna% k°_'ii in jaelform 113. Jslc � -ho-4`1 ba" .st:ir'.tiu ls' file ;A9 trx'tpai suns WaC iii_ e }(4jriie aF`erve note.
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<br />shAl be scc uaed he., hk. and shattf hcar iniei.e :l r ,he ?ale 1 `rtii in The
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<br />fit :it he lrelehk a+'igns, .;'Sad het, Ole! T., !he 'forty',: � `i'- t"c e t ic'd loo, a.ri the Fiji -menI of the mote and all
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<br />Slone .enured hercbp in rice of a default in ,'he �rfarmiance of ins= of tine ter is -si i condHi €in'. it, this Attirteaf0 ar the said
<br />mote, all the rem,. revenues and mcomc to 1-vv dtnied fr.tra The n>urig4'ej ttrerw'cti d, lei: ,uch time a4 the - "Tortga ge indebted-
<br />- nest: '.hail remain unpaid aid the 'lei rlg.4'ee �h t C'hil'e polvet -tie I pt mi any' rct €i or jee t it indy dcm're fm the purpose of
<br />repaiiring said premises a1114 if anti rg !be .and ;,nd ct'4, :Litng the ,ens, rekc< .cm _li,kl ..tome. :ond it n.a; pas till if aid in -"
<br />Come. aiH ripcarsc. of rettalling safe arc times ,and ;le-, i i;a,twmr -n, .i, ekpe';,aex areutred in reaxinx -nd inanaging the
<br />same and of collccung ra:nial, Ilrerefrom: the of ctn4e rein •ining, if ,mv> w he appricti To%a ru li?e rlik :hargn if s.ud tnortgza e
<br />indebtedness.
<br />R. That fie will -keep the itttfrt °yemenT� nera existing Lit hereafter vre ic! on ifie m- ortgaized protlei-iy,- irv,urcil as may he
<br />re hurt! from me f h. - .,r €e m ( gee "gta,ns, 'r. ss e ... x, .._ S"ix u.. ...f'ir`s u tt
<br />- q . -__, - .�, �-.�ci ' r - v fire .;red mhel- - ... ;`iii it.t ,. Zit - -iitrflgenc-rc'' -in 11th
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<br />- Amounts and for mach periods a4 mag be required by The Mortgagee and %x ill pr promptly , then tit t.. -anc premiums on such
<br />insurance pre =vision for payment of %hich has not been made hereinbefore. All irisurari c shalt he carried in.companias ip-
<br />graven b} The hlortpgee and the poNcies and reoc%t ah thereof shall be held b% the ?rlongavee raid hale attached thereto hiss_
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<br />payable clauses in favor of and in form acceptable to the Mortgagee. In csent of loins xlorigigeor will Like immeoiare notice by
<br />mail to the Mortgagee, who may make proof of 'lass if not shade proniptlybv itt r*gagor, and each insurance cnlupaoY can,
<br />cernetf is hereby uuthoravd and ehreded To make 'pas men; for such It"s,directh ill the Sfort�g e instead it( to the kh,rigagor
<br />and the Mortgagee )osolly. and the instirauee procceds. or dry' part thcreitf. nm be applied bt the M trtita gee at its onion either
<br />to the reduction of the indebtedness hereby secured or To the rc klo;al ,°n sorri!r fir iif the fitaperh d am,iged In ek ent of le raclo-
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<br />sure of this mortgage or other transfer of title lea the morlpi>_id property in cxungui�hmcnt of Tile indehtedness secured bet hy%
<br />all right, title and interest of the ,'Jortgagor ht acid is ,ins msui ance polmirs the" it, force stls if pus. to the purchaser or itr ;mice
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<br />9_ That as additional and collateral secumv for the p:ivmenf of the note de"Clid -cd, and all <ornt to bee,'tintt: due under thil
<br />mortgage, the Mortgagor hereby assrRns' to the kforigagec all pratils, re %enue" ro%ahac., rigour and I)Clletit: ;ICkrume Ili me
<br />Mortgagor unties any and all oil and fia, lease, ill 'Siaid premise �,,. unit me right to ic4`ei4e ,a hid ret,eipt for the :i nit" .11111 appl}
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<br />tbeln to said mde hlt'tlnek+,ii Well bcfnre :ta ;ntei' de'fHuall tit Tlie s'anilt(iirf {!° of 1h1+r°iiti i�,etge', and ;tie �Nf t7Pta sg1'c inllF dt.ai;Y #ttl, 414c
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<br />for and eeciover ant' such p :ttinenls whco duo and pa)ablc. but sh[aa not } t, ruklilinrd to 10 tiles. "1nis signment ik ti' titrti €tau :re
<br />and twi :onie ritllf iuid void opiln t eteaktt iif llama mortg;ute
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