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85-- UUMOU
<br />f 1 ) month prior to its due date tale annual mortgage insurance premium in Ardor to provide such holder
<br />%%-!tit funds !o pay such prenliurrl to the Secretary of Housing and lhhan Development pursuant to rile.
<br />National Housing Act. as intended, and applicable Regulations thereunder: or
<br />tow, ll) If and so long as said note of even date and this mstruutent arc held by the Secretary of Housing and
<br />oO5OV A Urban DOveiopntent, a monthly charge Ibt lieu rt% a mortgage insurance premium/ which shall be in an
<br />�� U # amount equal to one- twelfth (111') of one -half (lit) per centunt of the average outstanding halance
<br />due on the note computed without taking fill(, account delinquencies or
<br />prepayctents:
<br />(b) A sum equal to the ground rents, if anv, next due, plus the that become
<br />prenuturis will next due and payable on
<br />poliCics of fire and other hazard insurance covering the mortgaged property, plus Taxes and assessments next due
<br />on the mortgaged property tall as estimated be the Afort,gagee) less all snorts already paid therefor divided by the
<br />number of months to elapse before one month pilot 10 the date %%lien such ground rents. prenliunts, taxes and
<br />- Iit
<br />assessments will became delinquent, such sums to he held fly Mortgagee in rust to pay said ground rents.
<br />miums. taxes and special assessments; and
<br />Ic) All payllnents mentioned in file two preceding subsections of this paragraph and all payfriellts t„ be made undet
<br />the note secure'! hereby shall be added togettet..ind the aggregate annum thereof shall be paid by the Morteagor
<br />each month in a .mglc payment to be applied h\ the Mortgagee 11, the 111il(Fwrlg items In file order set Huth:
<br />(1) premium charges under the contract of in irancv wrh the Horsily, and I'Than De%clopnlenf.
<br />or nxmthly char_a tin lieu Ai nu,rteagc afs,nrmc('t,fy•tfuumr, as rllr case mat hr:
<br />I11! gn,uad rents. taxes, assessments. file and (Filler hazard insurance memnmts.
<br />II11) interest on the note secured herehy;and
<br />(IV) amorti7atwn of'1he principal of said note.
<br />Any deficiency in the amount of any such aggregate rtlonthiv payment ,hail. unless niadv good by the Mort
<br />gagor prior to the due date of the next such pavntenl.:institute an cleat ,If delaull untie, this morigage. The
<br />Mortgagee "late
<br />may collect a charge" not to exceed I,n;l "cots (4YI tot cad! dollar (Ji) of each paN ntent 11111re
<br />than fifteen ( 1 � i dal. s n, arrears a) cover the extra expense involved ill handling delinquent payments.
<br />3 That if the total of the payment- made h% tile- llurtg;3,gnr under,!,! nI paraariph ° precvding -hall exceed
<br />the amount of payments actually made by the \1origagee rnr _,round rent -, taxe- and a-- e- -mvnt- or in- urance pre-
<br />miums. a• the case may be, web excess, it the loam) is current at the option of the Morigagor. shall he credited b%
<br />the Mortgagee on - uhsequem payments to he made h% the Mortgagor. fir refunded to the Mortgagor if, houp%vr, the
<br />monthly payments made by the Mortgagor under r 1 r of paragraph' preceding shalt not he sufficicnl to pay ground
<br />rent. lase.- and at- cssmen1- or in- uranc'e premium -. a- Idle cat -e ma% be- ashen the -ame -hall become due and pa%-
<br />able then the Mortgagor =hall pay to the Mortgagee .un amount nece - -ar% to male up the• deficient•\. on or before
<br />the date- when payment of -ueh ground rent -. lax(. a-- e- -ment- or in- uratice premium- =hall he dip If at :roc
<br />time the Mortgagor -hall tender it) the Mortgagee. in accordance with the proi,i- ion - of the note - ecured herth %.
<br />full payment of the entire indebtedne -- repre -tinted thereb%_ the llortgagep -hall. ill Computing the amount of -uch
<br />indebtedness, credit to the account of the Mortgagor all payments made under the
<br />pro%Istons of -, of paragral>to '
<br />hereof which the Mrrrigaget- ha- not become
<br />nhlif:ated u, pay at the �ecreiar% of 114M-lner and I rhan Dti-clopiri
<br />and an} balance remaining, in the fun(L- accumulated under the- pro%i -ion of (lf para_raph _' herertf. If there
<br />-hall he a default under an% of the pro%i -ion- of thi- mortaa;Ie re- ulting in a public -ale of the prvmi -e- co%ered
<br />hereby, or if the• \lortaagee acquire- the properl% othor\ti -e after default. the 11ort;_,aape -hall appl%. at the lime of
<br />the commencement of -u(h pro( vedina -. or at Ihe nine The property t- (FIhpn%I -A- ac quired. the balance then remain
<br />ing in the fund= accumulated under " %of para;,,raph ? precedina..I- a credit again -t till• amount of prrncip;Ii Ihpn
<br />a
<br />remaining unpaid under -,lid note.and -hall prnperl\ adlu -t am payment- ,(filch -hall bane been made
<br />order :
<br />of paragraph _'.
<br />7h :t The %,[Igagor %k All p;,% grimed rem, t.,%e, .t „r „menu. ";Ater rte,.. :ni nfhet gASenunenrd Ar mrini011,ai
<br />charge,. fines. fox
<br />Ar !np A,uwn, Y.In i pro, own Im, nut been. made her c•I nhcl file . and it-, dcfaull thereof the \icrtgagec ma\
<br />pin Ihe same. and that the \long ;w, -1 \\ Ili rn,n lit I% lie 1,%ct tilt• tit; ul;,I rcc:vpts 1hvlefAr r„ the Mortgagee.
<br />5 Itic Mertgag„, %. dl pr.% all In %c, .,hash nl;ly tic Ic\fe•ll upon the Mori ca}ct•', ulic•re,r ul sand read c,Lnc :Ind Impio%c•-
<br />merits. and uhwh man he le%led upim this "iortgagc AI [tic deht sc. ][red heich% [hut oni\ IA the cx1cin [hat ,rich I, not prohibit -
<br />ed by Lot and Ant% ill the c•%tenl ilmi ,1101 %,,;1 n "It nt,,ke Ihe, 4,.,n 11,11lHnt,I. hot Vx,ludutg tin% income Tax. Slate „I i eder.,f.
<br />mlpo,ed ill, \lorigagvc.."Id a Ifl file tile idti0l:d retelpt 'hi- Ing ,u0h pw. rilent %%Ili; the MArtpagre. I'poll %nfaiwn if this under-
<br />taking. air it the Morigtigol 1, prnhllnted h% ant 1;1" no%v 1,f hcic,Iftcr ev,ting from pa%ntg [hie %%hole or n% portion AI The afore -
<br />.rid tent,. or upon the Icndenng of .on oull decree prnhlhlrng the pan Anent by nce Moripvw or any such taxes. Ar If ,uih I.,%%
<br />or decree pro\ Ides that in% amount ,A ;,;lid h% the %imIgagoi ,half be credited An Ihe nortc;lge debt, the ' fArtgagec• ,hall ha%c
<br />the right to gi%c ninth ,fans' written nAIICt• h, The aunet of Ihe mortgaged prcnn,c,. requiring the p;,%rnent of the In, A,lia a(•
<br />debt. If %uch notice he gi%cn. file ,;od deli( %hall he%'Anu' duc. p:,%a(hlc And "'11c,ilhie tit rile expiration of sand nmet% dal%,
<br />6. That should he fail to p:i% ,In% aunt Ar keep am t,nen.e t pio%ldc•d flit ill thls \lorlgage, then the Mortgagec. :,t it, op
<br />teen. ma} pay or perform the ,ante. and all expendturc, •,, ni ;itiv ,hall he •,,filed to the pnnclp,ll ,11111 oumg on the ahoy c little.
<br />shall he wcored herchy. and shalt hear Interest at the ,;lie ,rI fort ill In flit ,cud note owl p.tid
<br />Thal he hhch\ ,, %sign,. transfer, and lets o%cr to Iftc• \lorigacce. To he apphctf h,%%:rd the pa\ rricnl of the note .mil
<br />.111
<br />,ant, secured herchy lit case of a JcLudl in the performance „f :un of Ihe Iernt, .and ,ondlffen, of fill, \IArtg;,ge or file ,ald
<br />note. all the rents, re%cnue, and Income to tic deri,cd froln the mortgaged picml,c, during ,nets ][file ;,, the ntfirlgage Intichtcd-
<br />ne„ shall remain repaid: and the Mortgagec• ,hall flasc power u, eppoml :,rn .,gent of „pent, It nl;n de,ne for tile pupo,c if
<br />repairing said prcnn,c. •and Af renting the same and %ollecirrig flit Tern,. Iescnlic, ;,rid tnomic..Ind it m,ry pan out ,I ,;oil lit
<br />:nines all a \pcn %es if repairing said p renuses anti nc%c%s,,n commission, and expense, Incurred of renting and nimi,ignng The
<br />carpe and of collecting rentals Ihcrefrom; the balance rent ;+mlrrg. if ;In% h, he ;tpphed Ims..rd the dt,chargc .,t ,aid nl.utgagc
<br />indebtedness
<br />K "that tic x911 keep rho Ifilpl NSelllrnt, "”' "'"(191•, "CICA'Cl 11rLICIT U11 rile flit'[Igtircd t,l „pen%. I11,{Iled IIW% he
<br />.,,
<br />required from time IA time by the \tongagec agaunt 6,,, b% tor., .cod Atilt•, hai.lyd, ,a,uallic, ,Ind unmnacnuc, In 111%h
<br />amount, and for such periods I, rasa% lie rcqunred IF% the %lorlg.igcc and a III n.r, pr„mpfi%. %%hen,file. :In\ premuna, on lush
<br />In,uramcc prn%l %Ion fill payment I,f 'A hleh has not hccn made ficic lthCIArt MI U1s111.11Ie1 ,half he sanded In u,nlpanlC,
<br />,11,
<br />proved by the Mortgagee and the policies and renewals thereof ,hall he held h,% Ihe MAllgagec and hone jmik lied theictr, h,,,
<br />payable shlljws In fa%Af of ,rid m torn, acteptahle 11, the Mortgagee In r%enI of lo„ 1lnrivilgol %%Ail pore nnmrdl.,h' nAu\r h%
<br />road to the Mmltpjgce, %\1t,, rasa% make proof of Ins, if Ilfit matte plwilpi!\ h\ \Iollgag(,r .,rid rash 19,nl:nar ittnl
<br />p,,n% ,1,n
<br />cctncd I, hcrchy aulhorited anti ifir"Ied fo "lake payment for •nets lo„ 1111C%Jl\ In Ihe• %torigagee Itntrad of Io file MArtgtigo,
<br />and the %forlgafte leunlv.. and the m,nrmlcc plA\eed,. fir .inn par Ihctcol ,n„% tic• •,pr,hed 6% tie Mollg „gee :u (t, Apnon rllhcl
<br />Fit the rethoolon Af the Indchtedn .• hitch% ,eeured of IA file ;e,lAremnn of It p.fil t'f the 1`I„1,crn J.nn :Al ;ed In c%cnf of f ,fc, Lt
<br />'.
<br />e (if ilu, rowfigage 111 I,IhI'I 1rallsfer iif !file' to life' Inorigagrd pioperi, In e%Ilflgllf,llr.lt ' ll! ,,I Tilt Indio hictfll, „ ,e%Itled h\ rt h\
<br />Al ai tight. toile ;till! Interest 1,1 the Mollgag(.r no and It, till% III%IIt ;Intc IAlloc, He'll In I„1, r ,11a01 j,.l„ It' file pill, fl.,, t'r ,.I el.11ln'c
<br />L
<br />4 rhat'l, addl][onel .,Fill - ttlliutr.,l ,event% by file panmrnl of Ihe'Ilse IV,, Ilhed :,11,1 :dl ,u:n, IA het ... it” dill...ntfrl fill,
<br />fn(gtv,'tge- Ihf' Monbtigl,r herch% ,,s %Igo, IF, live Moltgnpe•r .Ill I'ri,hl, it-,cilm., ,,,.0110, "Uhl, ,111d henrhl, I„ flit.
<br />F'
<br />,,,,tmn,;
<br />derrK;,knr under anv !Till ill ,,d .rid pa, !rase, ,vl ..rid I'n ml,r, u "'A Ih: ,µ!ill 1 , 1,%1 11111 t "Alit f1,, •.h” l , !,+ •I,f,�,
<br />them IA .aid IIldrhl ill tlr„ 1, Nell hefnf e' ,� dire def.,wl ,, ih< ..,nthll,m f 11” , u( I t ,,,I 'lit M I,I; pats. I'l,"d ant
<br />ff., rid tc, nv „ash
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<br />p,,,n n , +hen 1hn_ and pa%•,blc hul '41 "0 •„,1 h% ,, yn ,,, f., ,I I hl, vcnnit n1 A, o, 1, 1.1 ,I JI
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<br />,,mf a., I,rru i tail , nil ,,,Id I1 „1. a _ of ti,n r,ultu.ler
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