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<br />t7S „f 005839 (1) inondn prior to its due date the annual nulrngage insurance piennum In order to provide such holder
<br />D `,vith fluids to pay such premium to the Secretary of Housing and t!rhan Deveh,pmeni pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder. or
<br />(11) If and so long as said note of even date and this Instrument are hold by the Secretary of Housing and
<br />Urban Development, a monthly charge (iii lieu of a nrori age Insurance preinium) which shall be in an
<br />amount equal to time- twelfth (I /12) of one -half (1/2) per centunl 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 became due and payable nn
<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 rstiniated hr the.for {caged less all sums already paid Therefor divided by the
<br />number of months to elapse before one month prior Io the date when suds ground rents, premiums. taxes and
<br />assessments will become delinquent. Such sums to he held by Mortgagee Ili bust Io pay said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />(cI All payments nientioeed in the two preceding subsc,unns of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and Tile aggregate amount tflcici:f shill be paid by the Mortgagor
<br />each month in a single payment to be applied b% The Wirigagee to the lnllowule ucnis rrr the order et forth
<br />111 prc•miurn charges under The contract oI insurance wlli, the Secretary o1 Holism,- and [Titan Ik•vclopn,en'.
<br />,a monthly charge /in licit o)- nt,,mage insturanc• premiunt ;, a, tilt- Lase may hc:
<br />tlil ground rents. taxes. assessnienls. lire and other hazard Insmance p lomhln's:
<br />elll) interest on the note secured hcichv;and
<br />(IV) alliortliallan ul the principal of said note.
<br />Any dotitrency Ili the amount of any such aggregate monthly pa�inont shall. unless matic good by the Moll.
<br />gagor prior to Ih3due date of the next such p;onlC!,t. clulsnuue an event "I dCtllmll under this nlortgagc. The
<br />Mortgagee nlay collect a "late charge” not To exceed log:! ,env IaJ) t"I c,ch dollar (;I I of each paynnrnT :uorc
<br />than fifteen ( I I +a} S m arrears to cover the extra expen,c involved in handling delinquent payments.
<br />That, if The total of The panmenl, math` by the Mortgagor under r % ! of paragraph 2 preve•ding -hall exceed
<br />Ili(, amount of payment- actually made by iho llur uagee for ground rent,. lake, and a-,e,-ment.- or insurance pre-
<br />mium-, a, the ea,v may be. ,uch excess, if tile loan is current, at the option of the Mortgagor, shall be eredlted by
<br />The Mortgagee on sub- etjuenl payments in by made by the Vorttagor, or refunded to the Mortgagor If. huweyer, the
<br />monthly payment- made by the Mortgagor under e %„ of paragraph 2 pre•cedip-g shall not he %uffic•ient to pay ground
<br />rent. taxe.� and a „e „me•nT- ur in-urance premium,, a, the ca,v may he when the -ame -hall become due and pa\-
<br />able then the Mortgagor =hall pay to the lleirtgarpe any amount necp - -ail 1( make up the deficiency, nn or before
<br />The date when payment of such around rent,, tact•,, a,-e,,ment, or insurance• premium- ,hall hr• duo If at am
<br />time the llottragor =hall tender to the Mortgagee. in accurdatnce %kith the provi -ion* or the• nose -ecurvd hereb%-
<br />full payment of the entire indebtedness- repro -tinted thereby, the Mortgagee -hall. in rnmpnlinI the amount of ,uch
<br />indebtedness, credit to thc• account of the Mortgagor ,ill p:tymrnts made• under the proy'sions of ,,r; of paragraph
<br />hereof which the Mortgagee ha, not become ublir!aied lit pay To the �,ecrviar% at (lousing and 1 Than Dcyclolxncnl
<br />and any balance remaining in the fund, accumulated under the provisions elf of paragraph 2 hereof. If there
<br />-hall be a default under any ref the provi- ion - of ihi- marl age re,uliing in a public -ate of the prerrI co%en•d
<br />hereby, or if the Mortgagee acquire- the property otherm-i. after default, the Mortgagee -hall apply. at tilt• lime of
<br />the e•ommeneemeni of ,uc•h prueeedings. rrr at the lime the property 1, otherwi -e acqur'ed, the balance Then rt•main-
<br />inre in The fund - accumulated under i1,) of paragraph _' pretef in);, a, a credit again -1 1114- amount of principal then
<br />remaining unpaid under -aid note. and =hall properly adju -t ant ,11%melit- ,%hich -hall lla%v been made ";alter
<br />of paragraph 2.
<br />4. That the Mortgagor %,ill pat ground rent,. hate•,. ;,+se„nlc111, xanr ratc,..md other co%crnmcnial of mumctp;!i
<br />charge,. fine,, (r impositions. for which prmi,wn ha, not hce•n mule brltrtlhef"IC. tI)d ITT Ief.,llh thcrc•ot If'e \111rtgagCC m:;%
<br />pay the saint•. and that the Mortgagor skill prttn'tilk dclt%cr tilt oih,i.d ICLClpt, thcrc•I"r 11101C \ lurtgagcc
<br />[he Mortgagor will pat all ta\e, %%hich nla% tic Ic%Icui upon the MorigAgee , IT11VIC,T ul s,od teat! e•! :dc .old rnlpro\c-
<br />rnenrs. and which rna% he felted upon thl+ ntnrlg:tgc or The dehl secured hotel,% thin "ill`. 1„ the v\lcnt that ,uch 1, not prvlhit,it
<br />cJ Hy LI%c and only to the c\teni Thor +uch "Ill not make this k,an tjmviou,l. Hut c%,luahng ,:n% income T.,%. STatc or Feder,l.
<br />unp"srd on \Mortgagee. and v.1I1 file lilt• official receipt Nhow tng [I'll p,I%mcnl %%;th the \lurtgagcc I poll %lelauom of the, under
<br />Taking. ur d the Mortgagor T, prohihiled by an`, law net%% ,I her r,l(ler c voting form paung Ili(: %, holc "ran% portnm of the atorc
<br />,aid lase,. or upon the rendering of an% court decree pro hihiting the pa%nit:rn h\ The Mmigarg"r or any such Ia\e %. or Tf +uch la%%
<br />or deciec pi 1\ itic, that tiny aniouni +o paid h% the Mortgagor ,hall he cre,lncd on the mortgage• dch1, the Mortgagee shall ha%c
<br />the right to give ntncty days 'A HIM) «odic To the ("Tier of Tile ntong ;iged ptemr,e,. ic•clumng The p :t%rnenl of the morigagc
<br />dehn. If +uch n(mcc he gi%en. the s:uel dehi shall become duc. pa%.,hlc• and tr1NCCl0+1c .t The r\puation "f +:ud ought d.r%,
<br />h, that should he fail io pay any Nunn or keel) any c „\e•n,o;.I prm ided for in the, \1,+r'gage, then the Mortgagee. at n, op
<br />non. %nay pay or perform the +amc, and all c %pcildilt re, ,” made ,hall he added To tilt• pTM,lpal sum (wing on Tile .hm c nose.
<br />,hall he sec'uied hcrchy. and %hall hear itucic,i :'f the rate or forth Ili the ,mil note•. mull p.(d
<br />That he hcich% assigns, transfer-, and set, o\c•r to the Mortgagee. to he applied t"%s.ud the pat ment of the little ,,lid .ell
<br />sums secured hereby in Ca,e of a defaull in The performance "f ins of The tc•nn, ,,rid condmnn, of lilt% Mortgage• ,, the ,.lid
<br />note. all the terns. Totemic, and income to he deri\ed from the mortgaged prvnll,c, during ,uch liner a, The rnatlgapc Indchted-
<br />tics, shall rernam unpaid: and the \lurtgagcc shall base power In appoint ant agent or .,gent, 11 play desire for the• purpose M
<br />repairing said prermsc, and if renting fhe ,;tine and collecting the rent,, rescnucs and lntonic. ,end in naa p,ly out of ,,lid ur
<br />tomes all espen%c, of repauing said promises and necc%sart ,ttmrnn %tons and e\pen,t•N mtuncd m renting and managing the
<br />singe and of collecting'emal% Itierefrom. the halance renLmning, it any. 1n he applied I(t%,•rd The „ T,ch.irge of "Ind mortgage
<br />mdehledne:s%.
<br />Ic Thad he will keep'hc nnpruwenleni, now t \i,tnig 01 hereafter crecled "n 'tic mortgaged pr ,perm, nr,ined :1+ m:,% he
<br />required from time t( little I,s file Mortgagee against I„%s h% file and "Tiler h,v,,ld,. ta,ualtic, and tnnungcne'e, ml ouch
<br />rma,mn'+ and for such period, a, may he required i's the \lortgot;cc and w III pas pn,nlpll% when Jut, ant prenuunt, on ,uch
<br />Insurance prvr%is ion flit payment of which has nut been lit;, (I he rc ill he fore \II nt,urante ,11.111 he ,.uricd In tonrpa lire, ,!p
<br />proved h% the Mortgagee :end the policies and renewal, thereof %hall he held h% the Moligagce and hake arTathcd Ihcre•t” lo„
<br />pa,y;ohlc dau %e, In fatur of and Ili form ;ICccpi: l,le n, The Mortgagee In c%,nl ld lo„ Mortgagor \%Ill g1\c unrTte•dudc MOIL 1`\
<br />mail To the Mortgagee, "ho nlay rinikc proof of In%, it not n'ade prnniprh i,s Mortgago'. •,lid oath m,urante unnp;on Lon
<br />cerneJ is herchv authorized and directed TIT make pasincnl for %11,11 Ina directls t„ the \t"ifg :lgcc Instead M to The \torlgay "r
<br />and the Mongalgee )ntrttN. and The !nsmrancc 11n,cccd,. or at-!% ;,;ITT Thereof, rrr•,\ 1w.ipplic l I,% the Mttrtgagcr It IT,. opil"n c,ther
<br />L ro %tic rcduchon of tilt- IndehncdneNN hereh\ ,cowed the rc,lor ;.inn Irp,nf M file Plopcn\ d.(nagcd In c\ tint M fnrc, I„
<br />',met' of this rtl",tgage rrr (,tiler Iransfel "I Idle To the Itl"rngalged pl"petis rrr e'VRigtlhtiltu•nl of The nkfchtedlie+, ,timed hrich\
<br />11 light. title ;Intl mlervo M tilt Mnrlgagor In ;Ind In :Ills In+ur•,n,r pnh %Its Illt•n in Inru• ,hall 4-.n, n, Ihr I,ui%h.,.er of gr.,ntee
<br />to i h d j, ;,clthnonaf Told , II ire Ill setunt% for Ill, i,.n Twill M the n „Ic Je,. nl`cd Ind .01 ,Inn, 'o He%"mr duc nndcT tin,
<br />nu,rtgagc. lilt- M"Ilgagor herch\ d, +l ji lt, f” the Mnllg•ige aN pf"fil, Ir%rn(C, \ iiCht, .Il,d ht•nrll', .u, ImIl1• I„ Ihr
<br />torryagor mntier :,n% •,lilt all mf and ga, h•.,,e•. ,Ili ,•lid plrrnl +r, \„Th the 11011 1„ 11 "I\I in,i ,, opf f,,, Ih " "rtt, i .,1•t-•!,
<br />!hem To •.;lid rt,d,HTcdnc,, .n. wr11 hchtfv ,, Ater drLnil m! OW"Md(um, „I fill, , l „(corn d 111, "i„ TS: IT:,, , ,v 1, 111''110 "t,
<br />f,,, .Ind te. ,,.cr .n% vnJl 4-.,%,i „n1, ,nht•n dnr i11,1 1,.5%ohlc I•ut ;11.01 ❑ „I
<br />up„n ,rlr -„% �,I Ihp, ui„rTt'ntr
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