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<br />(1) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay sucfi premium to the Secretary of Housing and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder, ur
<br />(II) If and so long as said note of even date and this instrument are held by the Secretary of Noosing and
<br />Urban Devefopmeni, a monthly charge /tn lieu oja mortgage orsurance premr'um/ which shall be in an
<br />amount equal u, one-twelfth (1112) of one-half ('ij3) per contain 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 become due and payable on
<br />policies of fire and other hazard insurance covering the mortgated property, plus taxes and assessments next due
<br />on the mortgaged property /aff as ertimared bt• the hforr¢ageej Tess all sums already paid therefor divided by the
<br />number of months to elapse before ane month prior ut the date when such ground rents, prer.:iums, taxes and
<br />assessments will become deltnquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />(e) All payments mentioned in the two preceding subsccuons of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount Chereo( shall be paid by the Mortgagor
<br />each month in a single payment to be- applied by Fhe Mortgagee to the following Hems in t-hc order set forth:
<br />(I) premium charges under the contract ul insurance wnh the Secretary of Housing and Urban tevelopment,
<br />ur monthly charge fin lEeu of r+rortgage insurance premium). as the ease may he;
<br />tfJ} ground tents. razes, assessments, fire and attrer hazard insurance premiums:
<br />fllf) interest un the note securer! hereby: and
<br />t}V} amortization of the principal of said note.
<br />Any det'tcieney in the amount of any such a~tegate rnemhly payment shall, unless made good by the M~rt-
<br />gagor prior to the due date of the next such paymmnt, cansnh+te ar. event of default under this mortgage. The
<br />Mortgagee may collect a "late. charge° not t„ exceed !~wr cents t-ly) Fbr cash dollar t`il} ui'eaeh payment more
<br />shun tTfteen f I > i taps in arrears to court the extra expense involved in handling delinquent payments.
<br />,. 'that iF the torsi of the payment= madt• ta.' the ylorigakur antler (hr of }+ura¢raph 'l preceding sha[I exceed
<br />the amount of pa}~nent~ acwallt made b}~ Qx• 1lortaagea for eround rents. taxes xnd a-sessments or insurance pre-
<br />miums. us the case mac be. -_uch excess, if the loan rs current, at the op:rmt of lire Mortgagor. shall be credited by
<br />the 1lnrtgageo on rubeeyuem payments to be made ht the M1tortct{~or, of refunded to rho ylortgagor. H, however. the
<br />monthly payments made t?v the Mattgagor under t+ ~ of paragraph ' precedmK shnli nut ire sufficient to pay ground
<br />rent. taxes wtd x-s-e~~:sments ur in5urattoc un•mtum~- s~ the c.t~e matt be. ~ht~n the same shall 6ecume due and pay-
<br />able- then the 1lortt;agur =hail pa} to the Mnrttraeee ant amount neee~-art to mrke up the deficiuncy, on oe before
<br />the duty when pae~ment of much gmund rent,. taxe<, a~=es=memo or insuranca• premium= <hall b<~ due. ff at any
<br />time the iloreaager =hull tender to the yfort~a},+ee. in uecnnlance with the prot+~ion> of the note secured hereby.
<br />full paymt:nt of the enure indebu+dne=- repro>enu•d therehc, lho ".tort„slice -hall. in compulin~ [he amount of such
<br />indebtedness, credit to the acetwnt of the Mortgat~r .tlf p:rvmcuts ttiadc under the pruvtsiuns of r<,/ of paragr~stt 2
<br />hereaf which the ylortgttgee hx~ not hr~come obligated to pap u. the >.armwrt ul Huusin,~ _ntl t~rbtm Development
<br />and anv halanm remainint# in the funds ar-c-unnalau•d under tht• prat i,um- of r ~; of paragraph '' hereof, t( there
<br />=itali he a default under anv of tht• txnti-ions ul' thix mot#p~e rrsultrnd! +n a public =ale of the premi=eti covm'ud
<br />herrht. or tf tht• 14unz;agvt• :.+egmm> tier pntpertt utherwi~e after default. ~hc tlurtgagee hall applu, at the time of
<br />the commencement ul -uch pruceedine~, or st the ttmc the prupertt t, othor.tl>o ucquirt-d, the h:tlancu than remain-
<br />ing in [h.• fund+ aeeumuiated under r ~ of paragraph J pa•eed,ng, a~ :+ credit again>E the amount of principa! then
<br />remaining mtpaid under ~xid mrp°, ,tnd >halF prupcrh ad!u-t ant p:tvmemt- „hick ,hall have born mode under ta%
<br />of par~;taph :'.
<br />~- -l-hat the 'tlor#gaenr utll p.r} zr„unu rent.. ~.ac.- :sx s.mcnis. water ruea..md nihet govrrnmenial ur municipal
<br />charges, lines. or impostuon+, far ,th+ct! prnv~nm h.o not #x~cn made here+ahet„re, and in default thereof the Mortgagee ma}
<br />p;iy the same-and that the ~Furtgagur ati? pr,•mpti} de}n er ilia nlhCtal receipts theretor to the Morigatgee.
<br />s. fhe Mortgagor will pa} :d{ tales wn+ch may he Ir,-te•J upon the ~~lorigsrgee~~ iulrrest m said real estate and improve-
<br />ments, and which may hi levied upon th+, marigagc at the deM secured botchy that ooh n, the extent Fhat ,uch is nut prrhibit-
<br />ed ht tau and un}g to the e~iem Ilt:n such tsdt not make this lour usur+uus~. but escludntg any income tax. State ,?r Federal,
<br />imposed on Mortgagor, and wttl file the „diaai receipt s}tact mg such t+ayntcnt w tth the 14lortgagee. l'pon violation of this under-
<br />taking- ur if [he Mortgagor a urnhibited b}' an} lau nc•w or hercatter e~~ting fnnn p:+ying chi whelr or an} partiuo of theafore-
<br />daidtaxes, or open the renderingaf any court ilrcree pruhihiung [ha pat moot t=} dre llortgagur ur auy such taxes, or if such law
<br />or dtcree provides that an} emvum su pauF F}~ the Vlurtgagur shall he credited un the rnurigage debt, the Mortgagee shall have
<br />the right to give ^ine.Ey dai's' written notice n? the owner +,f the mortgaged premises, requiring the pay meat of the mortgage
<br />dabs. !f such nud.:e begiven_ the said deb[ shat{ bea+me due, payahk and coliecubie at the expirttion of said ninety days.
<br />6. That should he fail to p3} any sum ur keep any covenant provided for to this h3nrtgage_ then the ftitortkagee, a! its op-
<br />tion, map nay ur perform the >anie, and at9 expendnure, so made shall be added to the principal sum owing on the above note,
<br />shall be seared herebv, and shall hear imerea az the rate set forth to the said note, until paid.
<br />i. Thar he hereby assigCts, transters acrd sets stet to the titurtgagee. to he applied toward the pag'ment of tfie note and all
<br />sums secured tiereM~ to ca:e of a default in [he performance of any of the terms sad conditions of this Mortgage ur the ,aid
<br />ntrFe, all the rents, revenues and ma,me W he drrned from tht mortgaged prom+ses during such time as the rnurtgage indehied-
<br />ness shat! rematin unpaid; and the Mortgagee shah h.+.e power a+apponn any agent or agents it may desire fur the purpose of
<br />repai;'ing said }remises and ut renting the swine and n>tiec[+ng the rents. revenues and income, and it may pay out of said in-
<br />comes all expenses of repairing said premises and necessary cummtssion> and expenses incurred in renting and managing the
<br />sang attd aT cuhecpng remaes therefrom, the balance rrmairtin{3, +f any, ut be applied toward the discharge of said mortgage
<br />indcbtetlnesx.
<br />R. 'T'hai ha w°dt ktep [he tmpro<cments nou ezrsting ar hertuttet erected un ttte rnurtgaged property, mstsred a? may be
<br />*rt{uirsd front [lino to time by the ~iuctg'agme agtsitrst loss by Fire and other hazards. •_xsua(ties anu cantingencits in suuh
<br />amuuFnsand tar such periods as ntay he required by the ifarFgagee and will pay promptly, when due, any premiums on such
<br />rnsurancc provtsicin foC psyurenC of which bas not heeu made hereinhefure_ All insurance shatF he earned in companies up-
<br />prbtt~ed by the Mort~a~e and ttre policies and renewals thereoff shat! he held by the Ak?rtgagee and have autachcd thereto ions
<br />payable' clauses to fayur r?f and in fvrtn aceepi#tbfr-tu the Morttagee. In evem ref Irzas ~furigagur will glue unmadr<tta notice by
<br />mail its tfie ?sittrigt~e, who may make ptouf of toss if not made prr?mpriy by Morttagor, and ouch insuruncr company cun-
<br />certied is heF~y uuthsrired and dires:ted to make paytuent for suzh loss directly to the ?uica tgagce instead of h? the Mortgagor
<br />and F~ MUr{gages jointly, stet tI~ ittsarattee proceeds, ur anu pars thereof, ntay I,e applied t*y the Mortgagee at ils uptirtn eithar
<br />#f+tht r~Ftirc-t,KSn ©t Fate itFdetNed'Ctess hrrrbg xeittr~c9 or to the rc storatiun.,r ea pair of the prupCr:} damaged. hr eve+tt „f fureci+s.
<br />stae ytf bhrs nturtga{rc ~ ~ .Nher transfer of litre to the me+rtgi~~d;xuparty to cxtin{~uiattnrrnt c,f Ihr i;+tfebtedness secured hereby.
<br />aJt ~ ~y;ltt, tnty ar+d int.:reat trf the Afrtttgxr~or in and n> any insurance {?ahcies tJiea in tore shat; pa>s tt• tfte purchsset ur grantee
<br />~+ 1!tnt s, sil:htw+u8; ark tcrlfatcrat srcurr{y fct tin: Facntrnt rd [lee noFC- diserthecl, rand a!i :elms Cta t,rct"ins due undrs this
<br />:gs?r;caitr_ a..r LE i•n~nttca t,cFet€p~ .;xs+{tns !o the ;4frar(p~es: ail hrofsCS, €e.ent~s. rayahtes, sx,gitts ;tnd bettt*.Yit. scut+nng !u ttrc
<br />:-3tsFita-n.",+ +~~:ic+ .u~} ancf ,ri3 eri3 and gav leases con satt$ prrtiirae~., w+C#t the right to r~ccrve and recrtitt fo= fire s3n:c ;+n.1 at*Plt
<br />tf5cr;: tv ;,,::: r~•n5€t?te~rtnerxc ~s web t,eftue ax a$er defaidt in F1#e rurrdittnsts+tf tilts ,n.,rstxsgc a+,c! the : ~inrrgu}sc _ - c~ea -
<br />t+s; a+ad _.,.er .::~} ,at.-h Ix«pntenis svP+in cfu...nd pa+~abix..i?ut stab} nt~s hr rPC{u,erri s, t,, ,i.,, r'hrs ,ass.+gnmetxF t, ia, :r utteuetc
<br />,trod ~. :,~:rr n+u'3 #x:1 .-°s=tit uC't;n rtt!«a :e „! thra s ;aztga{te.
<br />r+,its U2143M cy.:~3t
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