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<br />(; 1 nionth prior to its due dale the annual nuutgage insurance nrermurn in older to provide such holder
<br />with funds to pay such pleniium to the Secretary Of housing ;Old Urban Development pursuant to the
<br />National housing Act, as amended, and app livable Regulations tflelrIIII&E or
<br />(11) if anti so long as said note of even date and this instrument are held by the Secretary of housing and CP
<br />Urban Development. a monthly charge (in lieu of a mortgage insurance pmnriurn/ which shall be in an
<br />amount equal to one - twelfth (1/12) of one -half (1;2) per centum of the average outstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments: 0
<br />(b) A suit equal to the ground tents, if any- next due. plus the premiums that will next beccnrte due and payable alp 0
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property tall as estimated bl' the .Vortgagee) less al! sums already paid Therefor divided by the .w
<br />number of months to elapse het "ore one month prior to the date when such ground rents, premiums, taxes and t�
<br />assessments will become delinquent, such sums to he held hY Moneagcc in trust to pay said ground rents, prc- .'
<br />mfums. taxes and special assessments; and
<br />(c) All payments mentioned in the two preceding subsections of this paragraph and all payments to he made under
<br />the note secuicd hereby shall be added together, and the aggregate allIount thereof shall be paid by the Mortgagor
<br />each month m a single payment - be applied by the Mortgagee 10 the following items in the order set fords
<br />(1) premfwn Charges under the contract LA lnsurancc It fill if!,- Secretary „f Housing .111,1 (than Ihvclopnlcnl,
<br />or monthly charge (ire liija r,/ mortgage iilsurarrrclrrenaium :n ih(. Case mitt he,
<br />(11) gerund rents, taxes, assessments. fug and other hazard insurance prennunis.
<br />(11f1 wiliest on the note secured herchv; and
<br />i11') aulortization of rile principal of said note.
<br />Any def3cfe11cY ui the amount of an) such aggregate monthly payment shah. unless made good by the Mori -
<br />gagoT prior to the due date of the next such paYnlcut - C! :r,stirule an event ;:I Maul: undea this mortgage. The
<br />Mortgagee Ina), roitc0l a "late charge" not to aaceed tour tents t4t(1 !ot ;Adl doilal (5I ) 01 each Ilarnicnt i,lole
<br />that; ti icon (I ! ,alai s In arrears to cover the extra expense Involved n; handling delinquent payments.
<br />3. That if the total of the payments made by the MortLagor under ! ; Of para,raph Y preceding shall vxt ved
<br />the amount of payment- actually made by the 1lort2agee For ground rent t.axe, and a- e- -meni- or insurance pre-
<br />mium. al� the ca. -e mac be. .such excess• if the loan is current, at the option of the Mortgagor. shall tic credited he
<br />the Mortgagee on subsequent paymeni- io he made b5 the Mortgagor. or refunded to the Mort_agor if, houoNe•r, the
<br />taeimhly payment, made by the Mortgagor under , !, % of paragraph preceding shall not 1K sufficient to pay hound
<br />rent, taxes and assessmvnt- or in- urance premium -, a- the rate mat he. when the -ame -hall become due and pay-
<br />able. then the lktrtgagor hall pa) it) the Mortmacgee :kilt emouni nece- -x11 tai make up the deficiency, on or before
<br />the date when payment of -itch ground rents. tax0-. a-- c- -none- or In- uranvv premium- -hall Ix, due if at any
<br />time the lkirtgageir shall tender to the 'Mortgagee. Ll accordance xith the pro%i -ion- of the note secured here•bv,
<br />full payment of the entire indebtednv- represented ihen•hy. the 1klrigagee ,hall, in computing the amount of -uch
<br />indebtetness. credit to the account of the Mortgagor all pa }inents made under the l,rovlsums of ;io of paragraph
<br />hereof ufiich the Mortgagee ha- not Iwvome tiblig ued to pay tea the �e•cretary of Ilou -ing and I rhan Development
<br />and :any balance remaining in the fund= accumulated tinder the provi =torts of c; ; of paragraph :a hereof If fhe•re
<br />=hall be a def :.itli under any tof the pmvi -inn- of this mort_aie n•suiting in a public -ale a£ die• premise- covered
<br />hereht. or if the %lortgagee acquire- the property otherksi -e after default. the 1lortgagor -hall app#, at the time of
<br />the commencement of -uch pro(vvding -, or at the time the property i- others%i -e acquired. the baf:mce theft remain-
<br />ing in the fund.- accumulated under I'J of paragraph -2 preceding, a- a credit avain -t the amount „f principal then
<br />remaining unpaid under -aid now. and -hall properly adju -t ant pa:menf- .ehirh -flail have liven made i,zdvt A:!
<br />of paragraph 2.
<br />4. Thiil the klortgziew .kW net\ gronrid ti.'fll,. L.It C`.. 4 „e „1P.t'nl +... tdlt'r 1:alc',. Ind iothe, p, %ernmental or mion,ip;k!
<br />:hargcs, tine,. or impo,ition, for uhuhi pf"'isum hit, not hc•en rn : :dc hcrc,nhefor• -.and m dt'fallfl thereof Ill,:Mn;tgagce meat
<br />pav tht• same; and that The Mortgagor t!'If r:a:mpll', dchtty Tile otftct;at: 0e IpT fhc:efor t;, ihc Mortgagee
<br />s The Mortgagor udl p;:. sip TaNC, Cinch mat f,v !c,u'd upon the %imteaeec : intcrc,i rn .alai teal e,Ldc and ullrro"C
<br />menn..and which may he ic, led up<:n tilt, r!IorTLngr tar ?he dCht ,eCtired here; -, !hut onl,, to the c•Ntvnt thai ,i ;,:h is not prohahit-
<br />cJ e,t tau and onlp it, the es!cnt That .1101 ukdf not rn.akr tin, loan "sumo,i lint cy0loding ,,nN income t:,n. State or heeler :a'.,
<br />itnri;r,ed on Mongagee and tcifl ill,: the otficiial rc v pt ,h0t Ing ouch r ::: mcm unll the Mortgagee i'porl .n,!ation of thi, under
<br />taking, or if the Mo,:gag:w 1, n!ohlhned by am last ne,a or hcre1,ticr C V,Ilrlg frMTt pat inL the %thole tar halt portion of the Awe
<br />:aid taac,. or upon the rendering 01 ant court decree pr,hihnmg the rat anent M the Mortgagor or any ouch t :,te -. IT if ,m b !::,k
<br />or decree plot ide, that ilnc :mlouni ,n paid by the Motgagor ,ha!! he , redued nn the mortp;acc debt, rite Mortgagec ,h:av h:,, r
<br />irte saFhl :a, gite ninery ai ,' uullen nr,race lo the otkncr of ihc• mortgaged prema,e,, requurng the pacmem of file morig,gc
<br />do m if +ugh notice hr tale. en. the ,aid dchi shall become due. r as ahlt .:rid a,!Irvid,ir a1 the csptration,,f ,aid ninny ,lay',
<br />n That should tic fall to pray any ,um or keep any < oven rot plo%ided for to the Mortgage, then the Morig agec, ;if ii, op
<br />tion, may pay m perform the ,.fine. ;tnd afl ctpcnditurc, ,o rnade +hall he added to the principal +unl owing on the ahOye no1c.
<br />,hall he secured hereby . and ,hall hear miciest at the lace sct forth in the ,aid 11011 until r:ua!
<br />1'ltat lit herct y a„rgns. lnansfers and ,ct, ,%ct to the Morlgz,¢ec. tO he :wrlica tot and the pal, inert of the nO1c ,ind :all
<br />sums sccutcd hereby in vase of if Jcfault Iri the performance of an} of the term+ ,ind — nd!hon, of ihl, Morigage „r the +:rid
<br />note. all the rent., revenue, and income to he derive) from the mortgaged pTeru•.c• duritig ouch time as the mortgage in(jehicif
<br />nccs ,hall remain unpaid: and the Mortgagee ,hall hate purer to appoint anti avvitl „r agent, it maY desire for file purpn,c of
<br />repairing said premise, :end of renting the Name and ,oll"nng the Tcnls. tc%enuc, ,ind income. and it mat pay Out of said !n.
<br />comes all expense, of fepairing said premises and necessary cornm!„1 :,n, and cspen,c, mvurtvd In rcntrng trod man;agnlp ihc
<br />same anti of collecting rcniah, thcrefnian. the balance rerT %ijnling, if am to hr .lpptild IOU t,rd the 1ii10h ;,rpv oaf +;kill inortg !gc
<br />trldehtedness.
<br />K, That he wtll keep the impto,c•rncnt, now carsting a,, hercaftct etrcled on,hc rncartgaged pr„pertt. insured ,!, Ina% I,c
<br />required from time iO time h,. the Mor'tgagcr aWn1l%1 ;oN, by Inc and other h;,r,r,l,. unuaihes and Coniingen0ic, nl NMI)
<br />amount, and for such pond, ak may he leyutred by ttic Mlntgaiwc ,and till p;it piornprlt ,khen due. ally premnuns on each
<br />Inautanae prarvesle•rl for payment of which has ritit been trade heretnl clorc• Ml ua,umancc ,hall he karried in 0ompame, .if-
<br />proved hY the Mortgagec anef the policies and renetal, thereof shall he held ht the Mortgagee and bale attached the *ct0 !os,
<br />pay.ihtc cfauwN in tutor of and in firm acceptaMc to the 'Mwtgagc•e In loon of los, Mortgagor "Ill give inritediate none h,
<br />maff fo the Mortgaagoe. oho rnav make proof -It IONS if not fnadr ptornptlt ht 1lnrig:agor and oath nisuuancr catnpant con -
<br />ceined is herchY authorized and directed tit make payment for ouch 10ks dlrelllt f„ ihc' Morlgayev Instead of In the Mortgago,
<br />andihc Mortgagee rolatly. and ihc in,urance pfoLecds, or tiny part thcro,f. may he app!red ht The Mortgagee at It' a peon erithet
<br />li the reductum of the indchtetfne,• heruhy ,c0ured !,t ti, the resti,ration nt rrrau of the emporia &Ifnaged In c%c•nl of fist:^, Io
<br />sure Of This m0r1gicge 111 other transfrt of hfic !o the tnotigagc•d property in es.Inigua,hMI. ni 1 +f the iniichtednc•„ ,c. tiled hatch,
<br />all ight, title and rnterc,i M the Mmixiaitor in and to any in%wat cc pohcu', then nl fort e shall t,�, to ,h1 riff, h :!,c, „f er.:mry
<br />9 that sc oddiftori al and ,ollaferal ,c,mutt for the pa,, men1 of the note dt•• W'vd. rid ,,If ,tin, to hesannc line uudra tin•
<br />rn.41gage !!at• V14-figaeor ttervhk ak,agll, In the :forlgagee .1j! proht,- ler,enue,, r„t.alne, right, .ind hcncht, .!trr,unc to stir
<br />M,nl,jWWw ulxlef arly slid J? od and g”, h`a se,. tin "ald ptcmi'l.,, kllh The tlgh! I, C"I'r and ;ca earl het 7h, roc Inal .ir:p',.
<br />fl -ln !" ,a d mderhrrdne„ a+ :•rat #,- fait: •a, ,!ftc, r,ef,,tdl ,n the, ntithhaan•.,d ;h, +!r :: �t'a.a.;t r-id the M, tlk.wvl I wr
<br />?s,v aruf 'ei.s a' anti mi,.t. irn,tlie-si1, 'hl-:1 der Copt t.,t,!Wt- lint a1"ff nor h, ,,Cale ,( ,,, Ili„ i•i;'n•vv ;,::nn I
<br />s.ny, tK•ca Iw r ! r • €nit ,ash prim r e.a ef`: =f 1114 r.'lry leaitr
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