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$3--+00"73
<br />(1) month prior to its due date the anrtual mortgage insurance premium in order to provide suchhalder
<br />with funds W pay such premium tti the Secretary of Hauling and urban development pursuant to the
<br />Natlvnal liousiftg Act, as amended. artd applicable Rrgularivns thereunder, or '
<br />(tF)~': If and sv lorig`aasaid note of even date and this instrutstent-are held by the Secretary of Housing and
<br />Ilrbat('>Des~eFvpment a>mrrnt#t1y cltarge fin. tree of a mt:rtguge insurance premfumJ whkh shall be in an
<br />amnum egttal to<one-twelfth {2!t?} of one-half'{3!2) per centum of the ave7age,outstanding balance
<br />due vr, the note t:omptrted withaut taking into a~~:avnt cielittqurncies or prepayments;
<br />{4`i'} ' A siFtir eoual to the ground rents, if eery, next due, plus the premiums that will r}ext become doe and payable on
<br />pniiric> of file attd ether Iiiiiard insurance Inver,""rig tltei?~ortgaged property, plus iaxes:tnd assrssntenis next due _
<br />`zm the mnRgagtid propery /tilt as a;trFrtrrterJ by the ,4#vttgrxgeal z -ss a,i Bums already paid therefor divided by the
<br />,number of.monilts to elapse before one nonth prior to the +ia:e when su.h ground rents, premiums, taxes and
<br />,. „asacsst~enis tivill br,,otne-delinquent, sttch- sums to be held by 4lortgagse iu trust to pay said: ground ren#s pre-
<br />miun:s, taxesand speciabassessrnones;and
<br />(c~ t#II payrnrnts mentioned in a#te iwa preceding stisseenons of this paragraph and aYl payments to be made under
<br />the note scoured hereby shat} be added together. and the ae~ega(e -atm~unt ttteraof shall be paid by die a44ortgagor
<br />each`rtighth in 'a single payment to be apptieit by the f49ortgagee =.<~ the f;>Ilowing items in the atder set forth:
<br />(f) premliimxharges under tfte etaruraet of insure? ~e v=ith (hc ~ecretarr at Housing aatd Urban development,
<br />or monthly ehaiga (iii Lieu' P! Ittartgagr iatttrartc'a premturiz a the case may be;-
<br />(lij : gfott{ad rents, tares, assessntc°!tts, lu¢ and oYhat haxatd ins°~t:ance pt~rnit,nts;
<br />till) ~ interest on the Hate secured lawrebyCand
<br />{ISM) amortization aftlir priactpal cf lard note.
<br />Any drfuet>~;in..the ~mounx-,oC an} suc(~ ~a~,rcga c rre~:?ni a ,ra^t >taatl. unless made good tsy the Mart-
<br />gagor~cat~o~he dqn dot o(' tkte naxrsucirpayment, evnstitute au evert :,f de(auit under Ehis tnor=_gage. The
<br />` Mortgagee may-edleet a "late charge" net iv exceed fot:r cents iavr) fur each dofiar {,1 } of each payment more
<br />than=fifrren (t 5_) days ire arrears3ta cover the extra ezpens:• ;,v~ii~,;f in handling driinauent payments.
<br />t3, That if rite total of the payments madt• i,c !br 11ortRa;!ar under ~ ~ ' c>f paragraph 3 preceding sha11 exceed
<br />tfie amoet+C€[payhe~atfr: actiiaHy irixtde 6}' the lart.gagee^ fur :*rotrnd rettt-, isxaz and aaseasments or insurance pre-
<br />miums a~-the case may ire, such excess, if the loan is snrmnt. at cite ~ptian€tf the hforrgagor, shall.be credited by
<br />the Sfortgagee on subsequent payment=: to 'tae m;itie ht the tiortgagar, t,r r=funded to the Startgagor. If, however, the
<br />monthly pxytttenis made by the !Fltutgugor under !''.::..f Irarucraph ' preccviny sh.x11 not i?e sufficient to pay ground
<br />rent, rases and-a:>~tawsment5 or insurance premium= as the ca.-+= may rte, ,ehen :itc same ~hx1i become due and pay-
<br />abie, then the: Vlottgagor ahaH par to the 31art_nagr=e any amount nece;~,sary• to make up the det'icieney, on or 6efare
<br />the:date when payment of.such ground rent::, rase:, it.~sessment- ar insaraetcr premiums shall be due if at any
<br />tirtte the ~fortgttgar s'ha11 fender ur ihr Slnrigagc+e, in accartlanre with tht~ :;ntvi~inns of th€: note secured hereby,
<br />fitlf paymnnt of the entire indebtedness reprn-crated thertiht°. the 4lorftia~c•e ~ha11, in computing the amount of such
<br />indebtedness, creriit to the account of fire Itlortgagor all payments n*.ade under the provisions of iaJ of paragraph 2
<br />hereof which the Jtortgfrgee has not become {,hligated tv pa} to the 4ea•rvtury of Hnustng .,nd lirhnn development
<br />and any balance remaining in the funds accunuilatod under the prnvistmt~ of ~% of partgraph 1' hereof. tf there
<br />sGi4f1.1~,8y;#fefaulE under,'sn)' uithe,pmvision= of tlti~ mott~age resulting in a pab!ic sole of the premises covorad
<br />hereby, or"if~Qte r4tortg2~ee acquires tie prapr-rte oth+^rwi~a^ ;rfu=r default, ihv ilortg:~ce shad appty: at the time of
<br />the eommenrement of such proceeding-, ar rat the time the pmp+•ny i~ miter+ri.~e acquired, the balance then remain-
<br />ing in ttte funds accumulated under ~ i-% at` p_tra;;raph ~ preccniing.:,, cs credit again=t the amount of principal then
<br />remaining unpaid under said note. and -hail prap,~riy :id~u-t ant ;tats~tnt- ,thiclt ~i+ai1 hate been made under i al
<br />of paragraph ?.
<br />1, That ihr 4lortgagvr .,ill p.ay ground rent.. t::xe+. ~--.ca+rstei.t,. ,.:etrr r:ues.:utd ether governmental or municipal
<br />charges, Ernes. or tmpesitivns. fw~ which prvtision has etat t>zee madr;tesrinbrfare. and in default thereof the Mortgagee may
<br />pay the same: and that the Mw[gagar wiii Promptly de1a. er ihr uiticrai rr~eipt+ thrrefar to the 4fortgagre.
<br />5. The Mortgagor wi21 pay all rase, uhiClt ma} itr k•vied uport the tcv=tgager'< Snterest in said real estate and intptvve-
<br />ments. and which may hr ievird uikm this ntar[gagr ar the def=t secured hrrehp tt+ut on{v to the ex(ent that such is net prohibit-
<br />ed by law and only to ihr extent that such +vifl eat erase thin i„un tuurioust_ trait rxduding any income tax, State err Faderai.
<br />impaled vn Mortgagee, and wiU file the otficia€ receipt show htg lath payment with the Mortgagee. l?txtn vialatian of this under-
<br />taking, or if the Stortyagor is prohibited b} any law new or hereafter exisung from pay ing the what: or any portion of the af~re-
<br />said [axes, ar upon the rendering at :any cnurt decree proitihning the payment by [he Mortgagor yr auy such taxes, ar if such law
<br />or decree pnrvides chat any amount ao paid b} the MortgarEOr shall be credited,-?a the mortgage debt, the Alartgagee shall have
<br />the righ( to give ninety dugs' wrinen notice to the owner of the nx?rtgagrd Premiaea. repairing the payment of the mortgage
<br />debt. if -such notice be giprn, the said debt shall become dtte~ payubte and colleaibie at the expiration of said ninety days.
<br />6. Thai dtatildJit tail tv:pay anq sum or keep anycnvenatiiy+rexidcxl for in this INartgage, then the Mortgagee, at its op-
<br />tion, may pay;,or~ertt~rm the same, end qtf expentiihtres sprat}dp shait,¢a-added to the pSioCipal sutra.-awing on the shove note,
<br />shall be secured hereby- and shall bear interes[ at the rate set forth in the said note. anti! paid.
<br />7_ T1rnt he hereby assigns. n+nsfrrs and seta over tv the Mortga;te, to he applied inward zhe payment of the pate nnJ ai!
<br />sums secured hereby iu case of a default in Fhe Perfornurnce of any of the (arms and cunditivns of this ~lartgage or ihr said
<br />note, all the rents, revenues and inutme to ix derived from the tnartgagrd premises during such time as the mortgage indebted-
<br />rress sbaN remain unpaid; and the Mortfaaget.shaH have powtir ta.appointany itgent yr agents it may desire for the purpose of
<br />repairing=said premises and vf-renring>the tarue tend atllerting (hr rents. rrvenurs sad inutmr, and i( ntay ply out of said in-
<br />tt'fmGS a# CxpEnscs of repairing-said premise's and noeessary cvmmissians and expenses incurred in ranting and- nttrtfaging the
<br />satnearxli>af call€eting renters there#tvm; the balance remaining, if any, rat he applied toward ihr discharge of said mortgage
<br />irttfeEi~dnatf.. ~ . = s ~- -
<br />S; That he vs+itf'keep t&t improvements now existing +x hereafter erected on the mortgaged ptgperty, insuresf as may be
<br />required from time to tirtte by the Mortgagee against ions key ftre anti c,shrr hatan#s, casualties and ccmingencies in such
<br />atncStttet~aag f€rr sttt.~h peritis a5 (twy=-tie rtquirad bu t1!e ktortgager and wilt pa} Peornpiiy, rthen due. an} prenuunts on such
<br />ir[atitrattae boa-i&idn {M payment ct€ which has nest' been made, ftetrinhrfore. ,>Ii insurar,.c sha11 be tarritd in cvmpattits aP-
<br />proved h}. the blartgagrr and the polis:irs :end renewals thereof steal! he held by the Mortgagee and have attached thereto lass
<br />pus'at:1e ahtesss in [a;~ati€1'st[ToaCC+aaleta~lctahCslslong~Iget~: in=a±tent tzf tgss.A#+~rtgagvr uiii Kivc immediate nester by
<br />mitil (,~;hr hiurtgager, wlta may make pa?at et h?as if not made pro[npdt by'tlertguRor. and each insuntnre company cun-
<br />~iaad is hereby°.tui#t~s=9~ed ansl directed io make p;eymrn( for such toss directly tt? tfte Martgagre imtead of to the Moregttgar
<br />Slid th€ xi urtgaRee jhinttj•, and (hr in.m ante pr€xceds, ar any ;sort thrrraf, rater- hr applied h} the if or(gagse at us ,tptiun either
<br />txsittn cedt;::tivrtt+( the indebtedrns+ perrby ~Lw'edirr€€iMte re3toTarkriktSt restralr:caf ihr peaprrty damaged In rvrett of forecla-
<br />'of (Ns marirx=,.+z1~r trmnsfer of titls'to ttt+:mvrt~:rgsd propertc in rxtingtsishmettt,oSittdehtedness secured hereby.
<br />'aUttplit. t,:h .and ittterezt cif ihr A#crrtgas',rr itt and to aay iasurattcr pufi4ies then it11'nr ,• shall p.,s+; tit the par, tutaer rat grantee.
<br />~a . hat as addttitynal and rt»tata'rat srvurin-far ttte i*u, :zrnt r.f the rote dra. riL.aad, ctnd nli sums to tu.utne Jac under this
<br />t45r>rt~,agc eM ht„rtgagar ftrrct?y assigns ca t-Ite 'Nvtt4 g,,4..,a: ,~r~ri~~r~rf(>sttrs, at> tEtrc.. r-ght. ane9 t+enrfttt aLt~'uipg (tt the
<br />l~+tritxga, ,rttdce ant- and s1f 3i1 and ;car. it«rxe., on surd prcroiscc i ~.{t ~ r rtght.to re cw,; and ec:,,eipt for flee same and aPRiy
<br />tht,n is :.t irrdetsrednr~. as fe=lt t~rfure as after delt}utt rat ilre ~ r~rui, [t<wt= .::?,,. ancrrtgat`c, and tltr, tFfvuigager may drrnanJ, xie
<br />fstr ; re:,-car ..rat ~~cA p:~ryutcnts ±thtn due anct ~. P~~, t ,P. ,r, n i ~< : rauu~sl sera n= ,~t,~ i f+is azsigummtt is to trrmntste
<br />att+i },ems,=:t+e txxil nttd +atid upon release ^r this m;,rt~ -
<br />ttLia~3tdJAi 1133ri}
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