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<br />(l i rnanth prior to its due date the anruai mortgage insua,~rtce premium in order to providz sucia i:alder
<br />with funds to pay such premium to the Secretary' of Housing and urban Bzvelopment pursuant to the
<br />National Ilausing Act, as amended, and app licabiz Regulations thereunder: or
<br />(IIj If artd sa long as said note of cusp datz and this instrument are veld by the Secrztary of Housing and
<br />I;frban .Development, a monthly charge f in tFeu of a mortgage insurance F.remiumj which shall begin an
<br />amount equal to one-twzlfi€i fltl2j of one-half (1 (') per centum of the average outstanding balance
<br />due on the note computed. without taking into account delinquencies or przgavments;
<br />(b) A suni equal to the ground rents, if any, next due, plus the premiums that will next become due and payable an
<br />policies of fire and other hazard insurance covering the mortgaged prapzrty', plus taxes and assessments next due
<br />on the mortgaged property !alt es estirrxaied bt the 1bJcartgaeeeJ izss ale sums already paid thzrzfor dividzd by thz
<br />number of months to .elapse before one month prior to the date c~hen such ground rants, premiums, taxes and
<br />assessments wilt become delinquent, such sums to bz hz€d by Iv3ortgagee in ti•ttst to pay said ground rents, pre-
<br />miuans, taxes and special assessments; and
<br />(c:) All payments mentionzd in the two preceding subsections of this paragraph and all payments to bz made under
<br />the note secwrzd hereby shall be added togethzr, and the aggregatz amount thzrzof she#t 'tie paid by the ?vlortgager
<br />each month in a single payment to bz applied by the 'vtorigagee to the faltawin; items in thz nrder set forth:
<br />(€;t premium charges under the eo~ntract of insurance with tttz Szcrztary c>f Iiousina a,td l;tban Bevelopment,
<br />or monthly charge (in teen ~J rnr.>rtgage ~zsursnce prerrtiunz%, as the case may ':~e;
<br />(IIj ground rents, taxes, assessments, Sire and atltzr hazard insurance premiums;
<br />(141) interzst an the notz secured hereby; and
<br />(TV} amortization of the principal :tf said note.
<br />Any delicizncy in the amount of ens such aggre~zate n:ontttiy payment sisal#, unless made good by the 141ort-
<br />gagor prior to the due date of the next: sorb p ivrttent, cvitstitutz an event of defau#t under this mortgage. 'I'hz
<br />lwlortgagze may collect a °`Iatz cl~,argz" pat to exceed f<,ur c;ents (4~} for zaci; cloitar ~~1 ~ of zach payatent;nore
<br />than fafteen { I S) days in arrea3-s to cavzr the extra zxpensz involved in handling dzisaqueptt payments.
<br />`; '€'Itat it the total of the pas~ments made by the ltortgaQor under f=`:) of para.grapli J preceding shall Kaxceed
<br />the amount of payments ac.tual€y made by tht~ ~lort~anee scar itrcaund rents, taxes and ¢ _sewsments or insurarrc€~ pre-
<br />miums, as the case may be, Such excess, if she teen is current, ut the option of the 4fortgagor, shall be credited Isy
<br />the *4lortgagee an Uubsequc.nt payments to lee made by the' 1€artgaf;or, or refunded to the ~'~tortgagor, lt, howe`ver, the
<br />monthly paa~tnettts made by the :!€artgngor under rG:l of patrsxgraph ~' i?rc°c:ediitt; shall. ;tot be su€ficient to puy ground
<br />rent t:aaee. and assessments orsn~tarance: prensium~, as the t~<tve~ ma.ti bc:, ashen th€: same vhal I hecamt= duv and I~ay-
<br />able, flten the ylorigagor shall pay to the Ylor~ga~frc_e* env amount. ite:cc , sa.n° i.o make up the deficiency, on or before
<br />the date when payment o€'suc~h ground rc-nt:.. takes. t.;sessments crr insurance= pre=mtnms ha{1 bet due. if ac env
<br />trims t:he ~9ortl;aFor shall to-rider to the 1lortga;t?ec~, in ta.c:eb>raa,nc•e with the: prcavi.sions of €he note :-~r>eurc~d Iterebs.
<br />fu€I payment of t:he entire indabtedneys reprct:;ent.ed tltereb_y, thc~ ylortgagee ~ha11, in c:omputin~ t:he remount crr' Such
<br />atdehtedness, credit to the acttount of the Mortgagor all paytncnts €nade under the {xovis?ons .~fl'ca,y of paragraph 2
<br />hereat Gvhic°h the hlart,gaF;ee has not- become o6#ioatc>d t€a pay to the `+ecrre~tary oi' €lausinl; ~ncl Lirban Development
<br />~d;uty balanr,e rcamaining~ in the funds seecumutaat.Fd tinder the> Isrovision.~ of !`~1 srt' pare=„ra.plt ? hereeif. tf there
<br />shall bit a defau#t under anti' cat the: pravi,siott.~ al' this mortr,t~~et rests#titit,~ in a public- scale csf the premise:s covereu'
<br />€tesreix}, or if the 1'loa-tgat;ee= aec€uiret:s that prespert;e ot.hc:i•~.sise ~:.fter default.. t:he 1lortgagee ;halt app#y. Stt the time of
<br />the commenr.etnE.>.nt of such proctor:dings, zzr art. the bate t.Ito Iasopertti i ~~ihor~~r.-,t~ ar;yuired„ the balance Then remain-
<br />ing in the tuntis accumutaated under 'r! of #t.ara<rraph `,~ preceding; as a cret€it against the amount ai` princ:ipat then
<br />sEmaining unpaid under said note, and =hal# propcxrly aclju.~t arts paymf>nt.~ •.tihiz'h shall (sac-tt bE:en heads under fca
<br />of pztr~tz;raph `~.
<br />~. That the Mortgaagor wile pay f.ro•,tnt, rents. taxes. assessments, ~.~~ater rates. ztnd ether gavzrnnterita# ar municipal
<br />charges, fines, or impositions, or ti~.~h#ch prc>~ estop has not bzzn precis hereinl?et~tire, and in default thzrzaf the i+Iort~agze may
<br />pay the same. and that the 'eiortgagar will promptly dziivzr the. cfhcial rzceipts therefor Cu the Mortgagez.
<br />'?. Thz ,~tartg:agar Euil# pay aII taxes which .rreay be ievicd upon the Liccrtzt<:gee'; interest in said ~ea9 ersatz aitd itnpreve-
<br />mznts, epee which may be levizd ufian the, martg~agc or the debt secured hereby (but aniy° to the extzatt that such is pat prohi~it-
<br />zdby #aw arad truly to the extent that uch ~a~il? pert make this loan usurious). but exclud=rig any mcarne tax. State or hedzrcal,
<br />imposed an ?~ortgagez, ntd wi,# fle the: «tfiei;t4 rzceipt showing such paynterft with the Mortgagee. L?pop w~iolatic,n of this ;ender-
<br />taking, or if the 22ortl, agar is prohibitec# by ar+y~ #aw paw ar hereaftzr existizxg from payLtg thz whoiz car any aortion of the afore-
<br />,aid taxes. or upon the rendering of any court decree prohibiting, rite tea}~meut i7}~ the ~,arc~,steor ar espy ~us`e taxc,. or if sa<h i:ak+
<br />txccie~i'zz praviclzs lhat any amount sa paid by thz i+~ortgatzor shall he credited act the mo='egage debt, the i~~{ort~a~ee: shall have
<br />?he eht to gins ninety days' ~'vrittzn notice to fibs owner of the nio.rtg<sged premises, rzquiring the. paycnerit of ihz mortgaagz
<br />deb 't such notice be givzn, the stdd debt shalt beeonte t3ue, pay aLle and cai€cctiblz at thz expiration of said ninety dar,~s.
<br />ti. 4 h.<; should he i'aiI to pay any sum. or keep aany c:ovena,rt prouided 'tor in this slartgake, thin the Ylartgagee. at its c±p-
<br />tiot,. ma-y pay or perform the samz. and att. zxpendsturzs sa made she#! be added to the principal sum au~inK on the abav~z notz,
<br />she: f be ;~cured6ereby, <aitd shall irearinterzst air the rnt~ :et fartlz in thz said natz, untitpaid,
<br />7, '1'nat he fierzby assigns. transfers and sets Doer to the Mortgagee, to he appfizd toward the payment of the note and Sill
<br />sunf~ ecrsre<I h~ei•zb}^ ins case of a dei?ata€t in the perfUrmctnce of airy of the terms and conditions of this 't2ortge ter the said
<br />reuse .uf • i;e ~ n ts,reveiaites once income to be deii~wed fronro the mortgaged prentiszs during such tirnz as the x-tte~rtgaxvz indebted-
<br />.. r~e> .,1 r t :in u~at aid .s!~i !ltr R7ctr _agee shad have power tU appoint any agent or agents it Wray dzsire far the pur~a~a of
<br />€e; , ~n~; s~i _^ii,e ;,f,d n- c~ e:n:~ the ..are; andcol#ecting the rents, revenues and-incontz; and it_ pray pay out etf :n:~ in-
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<br />s:n :.a.c .... :;~ca.in~ u~t:.L ,nrretr.im; thz h~itanee r~marnircg, if any, to he applied toward t;tz dischargz of yaid~nac~ gage
<br />in°:; fi ecte: ..
<br />,. .,,t ~,~ ~.,f~i «i~ ..r .r: , r~~ ~~nent, nau c ~ .tiny ar herzafaes zrzt ed can tl7z mortgaged propea-Cy, iztsarred as map be
<br />-e~ufred ;n~~~ nn~~ ~~, ,tn:; n~' :~-t. .:cue ,,~as..5t 'os< by hrz ::rid other ktazards, casualties and cvntiitgzncies :n5uch
<br />,ref ~~.~ , .na ~ ,uc~ . _n~,;~= :;:~ ~ cciuirzd '~~~ thz >wCartgagez.anti v,i17 p~.+y pramlatly. when due. any premiums an sucYt
<br />sa~~ i -~~~; , ~ .rnt .;ii t~ ,.t .~ ct, ha, not been. ntztdeherzinbefarz. All insurance snail bz carried in ciAtnpanies ,~tp-
<br />~~r.c, ,,, ,l t terry ~ ,_..,i z ~<. ~_;~. r ~.. renzwals thar~zc:# .,~ali bz hzltf k,y the ~g~o,rtgagez <md hR,ue ,rttached thereto loss
<br />,an .: .e : ~.. =.n f~; c~s :,>> , m inr~r ec~?:,~?~ r? the ~£ t*ta~*ee. 1st everts of #c~~5 xd€artmagar will y=ive immediate hosiers Fey ~ a
<br />~nait ~~., :ham' .,i ,i,.--~r,. ;•: nc :_ ..~::c .,a,„ i ,>i i,,;s if not n::ode prompt#y by 9a~rteagcir., aitd-eawh insurance c, rttpany :an- 1
<br />>f _ 1 ~~ h:_ _r ; oearJ~ n e: >,. ~f~e~,- ~ ~ r:: t,, , . .~clt toss vii ,. r_~ tea Ricrtgageeinsteada?i to the ;~Iartgagor
<br />,. _ °~e ~e~ , ;,> ,+ . _~fu h: ,air .. _ ~ . ~ _ . ,- .:. .,t ,.act therza#, '~a~ _ ~ t ,~aiedYsy the !~lortgagzz at ifs option ei€her
<br />,, - ~ ,hsa;,: •t,e fr,~i<br_~ r,_i~her_h. ,,,a. f~~._,t..3 ariUttarre}rr,._ ' tht;pr'~,pCrtydta[paged:'Rne4entafftfrcclsi-
<br />~~e, ray + ~,. ~ her ~~~~r,n ,a,;: ;~ ;_~a ~ „r~ rcy inexta~gu:-hmznt of the inder,CecinesM ~zrzircdf,er;#w,
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<br />;ra:~r . ~Jictta~. , + ~iru , ,.. r_ ~ u•F- ',.. =:c f ~e:.e. ~ :hencsta descdY}ed, and ale sump ire h~rcn,ne retie ferici, = ti'>3~
<br />.~., ,_ . !r~ s, ;[~ t r 'b:. ~ ~ a.:e, 'J;c , fi ,_;: -'_ ..entre rusa(ttr iip,nir iail~ f ;}t
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