|
(I) month prior to its due date the annual mortgage insurance premium in order to pnivide such holder
<br />—A/�a� with funds to pay such premium to the Secretary of Housing and Urban Developmen pursuant to the
<br />V v National Housing Act, as amended, and applicable Regulations thereunder; or
<br />(1) premium charges under the contract of insurance with the Secretary of Housing and urban Devc1opmot.
<br />or monthly charge (in lieu of mortgage insurance premium), as the caw may be;
<br />(11) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(111) interest on the note secured hereby; and
<br />(IV) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mort-
<br />pgoT Mort-
<br />p prior to the due date of the next such payme +it. constitute an event of default under this mortgage–
<br />Mortgagee may collect a "late charge" not to exceed four cents (dua) for each dollar (S I ) of each payment more
<br />than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments.
<br />.y. That if the total of the payments made by the Mortgagor under dh) of paragraph 2 preceding »hall exceed
<br />amount the of payments actually made by the Mortgagee for vround rents. taxes and a_ s eats or insurance
<br />_.
<br />min, as the ease may be. such excess, if the loan is current, at the caption of the klortgagor. shall be credited ley
<br />the ! on subsequent payments to be made by the Mortgagor, or refunded to the Mortgagor, If, however, the
<br />monthly pay to nuadc by the Mortgagor under (h) of paragraph 2 preceding shall ram be sufficient to pay ground
<br />t o inw�r re premium _ a~ the ease may be. when the same shall become due and pay-
<br />s, shall pay to the Mortgagee any amount necessary to
<br />the daw when pap t of -inch ground rents, taxes. assessments or insurance premiums shall be due. If at afty
<br />time, the MMgaW mall tender to the Mortgagee. in accordance with the provisions of the note secured h by,
<br />full payment of the eatire indebt ess represented thereby. the Mortgagee shall. in computing the amount of such
<br />indchte4niess. credit to the account of the -tort car all pa�mc°rats made under the provisions of iii) of paragrapit 2
<br />heretif which the , g has not become obligated to pay to the :xPcretary of Housing and Urban Development
<br />�>
<br />and any balance retaining in the funds accumulated under the provisions of th) of paragraph 2 hereof. if there
<br />.shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered
<br />hereby. or if the Mortgagee acquires the property otherwise after default. the Mortgagee shall le. at the time of
<br />the c , t ens of such proceedings, or at the time the property is otherwise acquired, the balance their eemain-
<br />ing in the fun& accumulated under 04 of paragraph 2 preceding, as a vredit against the amount of principal then
<br />remaining unpaid under said note and shall p"ifierly :adjust any panments which shall have been made under a,Z)
<br />of :,a,
<br />4. That the Mortgagor will paw ground rent%, ia%es. atsses%tnentl, water rates, and other go%crrimc tal tit municipal
<br />ChWSCik.finCS. CW fnipaa i1l0ai'a. fix which pfo%tsnrn has not been made herembefore. and in default thereof the Morlmocinal,
<br />pat the %ainc. and than thcMortgaloorwill promptly deli4'er the official receipts therefor to the Mortgagee,
<br />if The Mortgagor oar wit] pad all taxes which ma} he levied upon the Mortgagrc.% interest in mid real estate and improve-
<br />meats. and which mav he levied upon this mortgage tit the debt secured hereby thou only to the extent that such is not prohibit -
<br />ed h� law and only to the extent that such will not nuke this ]%tail usnriou,% , but excluding an) income tax, State tit Federal.
<br />Artilkised tin cxt et°. annd will file the official receipt %hosing %arch payirrenl with the M4tmg4gee. Upon iittlatioan of this a f�
<br />taking. tic if the Mottiilastm is prohihatedl by any law niiw or hereafter e- %.sting atom p ;aging the whole or sans pinfitin of the aiaarea
<br />saw taxes. of upon the rendering of ant %tiurt decree prohibiting the pay.nett liv the klortgagor or Am such taxes, tit if %UCh law
<br />ax^ decree pfov c% that gnu amount %%r paid by the Mott o% shall he credited on the rntifigage debt. the Mci-rigWv shall have
<br />the to give ninety days' written motor% to the tow net of the naortgatk*cd ptcniiw,. teunirinti, the pal menu of the moripap
<br />if . h notice be given. the wail debt shall become dire. payable and tolicclible at the ctptralitin of %alto nancl% daa %
<br />6 Thm should he. fail to pay any sum or keep anycoyenaint pwa idcd for in this M rlga rv. then The falwlppce. at its ov,
<br />bout, seal pap rx perform the same. and all expenditures %o made %hall tit added to slue principal suns ow wig too the al i%c iuite.
<br />I he vetured hirrcb . and shall ticar ilnteresi at the rate set tenth to the %md no le, unfit p.' W
<br />That he hereby asxtgtt %. transfers and %cle ove? to the °<fott a e. ro tic apptacil toil asd the paimcni cot .lac But +tc ass%] At',
<br />iasms, . hereby in case of a default in the performance of any of the tern.% and k;#.w%atam% of thy% %hil4spix, ,u roc satd
<br />rtotc alt the rent%° revenues and awfi mr to he derived from the tnintpatted premise %doting smh tints as the r"imsp ° inJ hrR'd-
<br />s vW remain impatill. and the Morigivitirc shall have po"er to appoint ;asap : qcm cot agcni, it ma% de'sifc fet itv M
<br />r Premises and of femmit the saute anti collet rng the resets. rc %enuc% and into:r€a . mvd o mm pay imai of %hell Iv-
<br />y- expewws of repantaii laid paicmiw% and ncte %tars ton ?viii %sip n,, And ctlienw, mi urtfat in icn?iwe ind amnaging the
<br />,,am OW Qf Coftictmot rental% tf reftom. the liafairto,e remaining. if tarry. to too applied IwAmd tow, %tmchaspr of said marstgaa
<br />t.
<br />g. Thmi he wi# keep the imptomentents now cut,imp ire hersillo cttirrol ova fire 4'sr,rsts et4 tiaopvrti. isr %artetl es mm tic
<br />re Vol ORW by the Mmlosititee against lee %% by fife and tither haaard9. ,aou,JIWI .meat 110W@ 'O%Wq in %toes%
<br />v and for kWh rsant% a% MA he re4uffcd P+p the MtortsAileC arlif "139 pa% ;1t , isr 6%. "bees %tsar. arts t'tfir lOffl% ,w% %ia%h
<br />isivarawA provnitim fear payment tit wltkh has nivi heen maile rep" tort' Al? liestata;r4%f 111,311 l*@' 1airrta'19 in %fl%PriJMIItrs Ar'
<br />laviviadby *A t and the polmic% and renewals lhercof %hall he held t,s the Mmi aapvc W lion anal twd ;hart, I,—
<br />y, c io favors cif and in ftxrn *CVeritallike lei the Mlift ec In c%cnl %et hiss &t % ?ft a 8 watt glir bMnIlOmlc n "144 c pis
<br />not to the - . OKI may £ogles" finial of loo, if not made pr% njt ll% ht khOota *qa_ anaf ea,b in%uphtity omipani "Ill
<br />�i
<br />.. aut1wimA and dlickled 14, Malec pas'mew f,,r %uk h %r%% dire€ ob 1„ Ow .as st¢@tl A io tltf !4t of9 'F a +r
<br />lit %ufamvc pr. o:ee4is< sir 4m J ml thstrof. mab lit" arrlls'tt hr the mmigail `& ai at% a ptMiit Ci$t9et
<br />rut r Eaf tf st off %% lietchv w6ured oP to the ia%roratt a7 tN rep%aif of ilii "l op*art.- d4m cd lBi %' %vill %*f ford l"
<br />of Oaf astir transfer or .isle to the nteetra ell pio ri4 in extinpANhm. Cftt eat tlif ari htf?ilrtg" %V, weill hrtcbi .
<br />air_ , tAW and resl 14 OW mfolvoll tea And tae aov in% %iraame ra vh w, rttrvi in fob, t` whaP 1,,t' io ilia r,m, h i,ry ea: panto'%
<br />It That ai a,"aftmal and ctrlfaletmll %gr,.taasl9 the px Ap n rol of fiat' n+ is dr,i r1hed. ,saed All' ire, 4,', 'yte{ t visit' "Miit'i 91114
<br />�ftor
<br />rot , the tort 4€f l tehy a milim to the M44t a rc alp piokt,, t$ \r WI, n1thi, ,,Pilo � � ia'iF Frt�' icy lulul:
<br />w $ asap at all oral gall Pa% leaw% errs "od prvgl8' ''._ 4,Ifh low ?0Pht h, Pk" .e Plitt #s yt ijTi fop tiv 4 a <a "I'Ir4,Y4
<br />kbai w%444 b*4l1w4% 4% well behte 4 after 40atilt in the 6,%aatiita7 i,nt M 0iia mom igArw .t,o 114kH M m f ,ages, m,ik 69p°vp7.e,O x33q .
<br />fin rfsovev oo1 logoh pa)mcnl% Fahvn dice And stalk touts 9h,tll no% tat Frq Ili. d °, ' ., lhl , ;K'n iSii
<br />ow hfttierW ovull And o4mj t4rAm feleaw of IN% rti he it
<br />,
<br />,,1.,54ck %,.zns_
<br />
|