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<br />(1) month prior to its due daft the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to die Secretary of Housing and Urban Development pursuant to the
<br />Tiat9onal Houatng Aar, as amended, and applicable itegutations thereunder: or
<br />(ff} If and so tang as said note of even date and this insimment are herd by the Secretary of Housing and
<br />Urban Development; a monthly charge (frr }feu oja mortgage insurance premium) which shall be in an
<br />airtauht etjual'to one-titretfrh fl(12j of one-h~f tt/~) per centnin of the average-outstanding balance
<br />due tin 11te nottcutitputed without taking into account delinquencies orprcpayments;
<br />{bj , A start equal to the ground rents, if any, next due, plus the premiums :hat will next become due and payable on
<br />..policies of fire apd other hazard inanrance cmering the mortgaged property, plus taxes and: assessments next due
<br />un site mortgaged property (a#1 as estimated by the BlorrgageeJ leas aIl sums a{rrady paid therefor divided by".the
<br />number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and
<br />asatsartettrS xvill became delinquent, such sums to be held by Mortgagee in trust tv pay said ground rents, pre-
<br />mirmts, taxes attd special assessments, and
<br />{ej Art payments mentioned in tfse twn preceding subsections of thts-paragraph and all payments to be made under
<br />ttte note secured hereby shall be added together, and the aggregate amount thereof shall be paid 6y the Mortgagor
<br />each month to a single payment to be apptied by the Mortgagee to the !'ollnwing i[ems in the order set forth:
<br />(1) prerrtium charges under ;lee contract of insurance with the Secretary of Housing and t,'rban Development,
<br />of montftly chaz~ jrn lieu of mortgage insurance nremiunr/. as ehr case may be;
<br />(ll) ground. rents, taxes, assessments, fire and other hazard itisuranre premiums;
<br />(ffli .....,. _,., .... the^."" "'__:ed FtnVroi.v y, tv
<br />(fV) amortization of the principal of said note.
<br />Any defuitncy in the amount of any such aggregate mtsnthly payment shalt, artless made good by the Mort-
<br />gagor prior to the due date of the next such payment. ,:crosutute an event elf defau}t under this mortgage. T'he
<br />Mortgagee may collet a "late charge" oat to exccet9 tiwr cents tit!) for each dollar (51) of each payment more
<br />than ftftten {f 5) days in arrears to cover the extra expense inyrotyrd in handling delinquent payments.
<br />:3. That if the total of the payments made' by the ytortt=agor under rh! of }turagraph `~ preceding shall exceed
<br />the amount of payments actually made by the lortaagee for Uraund rent., true; and assessments or insurtmce pre-
<br />miums, as the case may he, such excess, if the Ivan is cutxenc, ,rt the option of the Mortgagor, shall be credited by
<br />the Moetgager un subsequent payments iv he made by the livrtgagar. +tr refunded to the Sorgagor- If, however, the
<br />monthly payment.4 rtaat~ by the Mortgagor under tt>.+ of paragraph ~ precedut$ shall nor be sufitcient to pay ground
<br />rant, taxes and a:~sessments or insuranet: premiums. as the r•a=r may be. xhen the game shall become due and pay-
<br />able, their the 3lortptaaar shall pay to the ~9urtga{er any amvunt nett'-=arv to make' up the deficiency, on or before
<br />the date sy$rn payment of such ground rrrtt_G, taxes, assessments or insurance premiums shall be due. ff at any
<br />tiate the lfortgagor srhall trader to t}re Rtotigagre, in accordance with the provisions of the note secured hereby,
<br />fait ptiyment of the entire indetitednr=s represented thereby, the i9ongagee -trait, in computing the amount of such
<br />iridebtedness; uedit to the account of the Mortgagor slit payments made under the provisions of %a) of paragraph 1
<br />hereof which the Mortgagee has oat become obligated kt pay to the ~eeretary of Housing red i!rban Development
<br />and any balaace romainittg in the fund4 accumulated under the provisions of t r,! of paragraph 2 hereof. If there
<br />shall be a default under any of the procisian= o[ this inner;.++age resulting in a public gale of the= premi,;es covered
<br />hereby, or if the ylortgaggr acquires the praperh otherwise sftrr dr[ault, uhe lfort£ager :droll apply, at the time of
<br />the commencement of .:rich proceedings, or at ihr time the pmprny i.~ otherwise acquired, the balance then remain-
<br />ing in the funds accumulata~d under l % % of paragraph ' preteding. a a tredii against the amount of principal then
<br />remaining unpaid under said note, and shall pntperly adlu-t any payment= +yhith -halt have been made under ia)
<br />of paragraph 'r.
<br />w, "that the Mortgagor will pay ground rents. taxrs.:,sarsyments, w.+ter rates. and other governmrnta) or municipal
<br />charges. fines, or imxtvtivns, far which praytsian has not F_zn made herernbcterr. and in defauh thrrevf the Rfortgagee may
<br />pay the same: and that the Mvngagur will promptly deltvtr the otticial receipts therefor pt the R9ortgager.
<br />~. ~ftte Mortgagor wilt pay siE taxes which mat ~ Ic.ted upon the \lorteagee's interest sn said real estate and improve-
<br />ments, and which may ter levied upon this mortgage cu the debt secured herrhq that only to the extent that such is not prohibit-
<br />ed by law and only to the extent the[ ;ueh will rot make this loan uwnvu:+i, but excluding any income tax, State ur Irrderal,
<br />imposed an Atortgagrr. and wrtl het the olftetat receipt showing such pay mnrnt w rth the Mt:rtgagte. }'pun yiviativn of this under-
<br />taking, or if the 'tortgagor i+ prohibited by any law now or hereafter rxssting from paynng the whole or any portion of the afore-
<br />sadtaxes, ar upon the rendering of any court decree prohibiting the payment tip the Mortgagor or any such taxes, ur if such law
<br />or decree provides that any amvunt so paid by the tdortgagyx Mali rte treditm on the mortgage debt, ttx Mortgagee shall have
<br />the right ro give ninety days' written nutter to the ownrr of the mortgaged prcmist+, requiring the payment of the mortgage
<br />debt. If such iuuece tx given, the said debt shall bet:ume due. payable and collceo6lc at the expiration vt said ninety days.
<br />6. That should he fail to pay any sum or keep any coven ant provide) fur in this Mortgage. then the Mortgagee, at its op-
<br />tion, may pay or perform the same, and ail exprnditurca sa made shat} be added tv the principal sum owing on the above note,
<br />shall be secured hereby, afld sha#i bear }merest at the rail set forth in ihr sa:d Hate, unM pad.
<br />7- That he hereby assigns, trsnsfers and arts over io the Mortgagee, to ire applied toward the payment of the note and all
<br />sums secured hereby incase of a default in the perfurmatxx of any of the terms and cottditioas uF this lvftxtgage err the said
<br />note, ail the rents, rryenuts and incumt to he derived from the ntortgagrd premises during such time as the mortgagr indebted-
<br />ness shall remain unpaid: and the Mortgagee shat! have pvwrr to appoint any agent or agents it may desire for the purpose of
<br />repti-said prcrnises acrd of renting the same and collecting the rents, revtnurs and income, and it may pay out of said im
<br />troates s9l explores of repttiritste said premises and nrcrssary commissions and expenses incurred in renting and manngirtg tht
<br />same aitd of rviltctitsg reatais iheretrom; the balantt remainfttg, if any, io br apptitd toward the discharge of said mnttgagt
<br />~~-
<br />g. That tit will keep iht impravrine.nts now existing tx hrreatter ertued stn the mortgaged property, insured as may tx
<br />required-from timeta.iimr f*y the Al~rttgagee against kiss by-fore and other hazards, rasualtirs and canritigeneies in such
<br />amounts std far such pcria+cts as may lx rey~uired by the Mortgagee and will pay promptly, when dot. any premiums on such
<br />itswrs~,ee tuovitdota fm payrnerst ~ yvtrich hat nix been made hereinbefurr. Alt insurans.~e shall rte parried in companies ap-
<br />proved hY Nee ~ at+d the politids and temwa9s t9tereaf sliali he httd by [hs Mortgagee and have attached thtreta loss
<br />payable chtusrs in fever of and in farm accrpiable to the Mortgagee. In event of toss Mortgagor wilt give immediate nttnt a by
<br />mall #tt tip hfortgagre. who tt~p' make prttuf of toss it nut nsadt promptly by f,9urtgagur, and each insurance company aro-
<br />t t6 tieftlty ~i atnf dirrctdd tit make payment far such tuts dirttxly to the ;tiicxigagrc insued ut to the Mortgagor
<br />~tttt~t=1~ jcuttttb, attd tttt insurana t proceeds. ter any part therms, may t+t applied by the Fturtgagte at fts :option either
<br />tv the reduction tai the ittdthtedaoaa itarrity sued w Httht restoration or repair.yf tttc property damaged. In event of turecla-
<br />sttat udrtA~ ~otlftr transttr of titre to the mtxiga~gcd property in cxtingmshment of the indet±itdnrs+ +rcurtd hereby.
<br />a#t ritltt~A last-iwuf##Itt'Atbrtar ht tend !a any imtinur+ct potttie. ittattatt fc>ry~t short pass to the pun baser or granttt.
<br />4. That a+adttitaxusal and cv#tatetal xrcunty far ttx payment of the nose drscrintd, amt alt stems tit became der utu9ar this
<br />~. 'bl~4 harthY assygts to the Mtxt elf prtttitc. rrvrnurs. rayaltsrs. rights agd tke~iits.atrptyip~~-to2ht
<br />tdpt u+adtr any atpi art oil asd gas ttasrs an said premiers, te•ith the right to receive and teeipt.ittte tacit! anA tsppty
<br />rheas m said teWctrssalitrzs a x~ll Fefurr as atttr default rn the cctstdttittns of shier mortgagr, and the iFtort;ts may demand. xur
<br />[ur std rrcvret stet sets h txcymtnt+: wMtu dot acrd pavahlt. liar What} not ter rr4usrrd +s: to do ih~ ~ gnm ~ is tv~e~itsutr
<br />stet t+nvaae putt atad vend orlon rr~avc ^r this murue.- t'~ err..
<br />watt 9zt asrs4 9Y t9!
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