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<br />-83-f) QJ.2.Sn::';
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<br />(I) monlh prior to it, due date the annual mortgago insurance premium in order to provide,ud!;\older
<br />wltlrfunds to pay such p(elTrium to,the.,Secretary of Housing and Urban Development punuant tothli'
<br />Natifinal.HQUlliIlgAct; as amended, and.l"p!icable Regulatioo~ theretlnder; or
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<br />(l.\}," {fand ro 1000g as saidnoteo!'."ven d.te'and, thisll1Stfll"'ent ",eheld by th~ Secretary of Housing ll~d
<br />Utban,~lopment, amonthlycllluge (inlfeliofll wJtrgllgelnsrmml'epremiumjwhichshBlI 'b~:'inal!"
<br />~tequall" Of!"'twelftll' (lfIZ) "f one-ha/f Ol2)pl!r ,;entumofthe averageoutstandillg,blllirnlle"
<br />,_ due on the note computed without taking into ~ccoum deHnquendes or prepayments~
<br />A"$l!m equalto ~e~?undren", jf "oy. nexl due, p!\lslhe premium. t,hal will nel\I~j.;Otn..dUeartd p~y~bl",9n
<br />pollcl~s.(~:nreartdotljet~azard insunmce ccweringihe mortgag~dp{O!",rty ..plu~ lal(~ J<Il<1 l\~~~'Wntf'll~ldu~';;'
<br />011 the mortgaged property (all as <'!CltnUlted ot' the Mor(<<agct!) Je,,, fill sum, already paid lberefordividedby the
<br />,~umbet;:-'Qflp..~,ths to elapse hetJ.l(e one month pnor in the dale when s\l('h ground rents, premiums; taxes _-and
<br />"~n!$ wULbeOOll'leQelillquent, >\!chsums to be held by Mongngee in trust to pa.ysaidgrountbrenu;,,,re,"
<br />miums., tue~and~peciala__e111S; and .' ........ . ... . ..
<br />AllpaymenUl.mentlonedintbe twoprecOO1ng subsections of this'paragraph ~nd all'paymellts'to'bemade under".
<br />the -n{)t~'secured hereby shaH be added lugethe.r, and the aggreg.tle ,UlKHmt theu:;of-s:haJ1 be paid by tire Mortgagor
<br />eacll.rt'l<lntn inallingle paymem tobeappJied by the Mortgngee h1 the folj.,willg ,terns in the order set forth:
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<br />(c)
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<br />(I) premIum charges under thewntract of insuranc'" "..,th :he S"cretary GfHousU1g;lUdUrbanl)ey~19pmenl,.
<br />Qf monthly_charge rin-lietlo[mortgage. insur-ann: ptf:.'J71iUmj.;:;:; tile case may_be; - -.
<br />(if) ground rents. taxes. i1s.sessments. fife and other h;~zard-_}n.suranct': pre::J"Uums;
<br />(1U) . interest on the note ~cured here.bY~'~llf1d
<br />tlVJ amortization of the principal C\f "",dllDle.
<br />Any detlc,ien.~y" An .the ~~9~lU;,.:Qf- any -.;ueh 4g;grcgate 'tllonthly ~d:yment'5juIL unless\rtl3de good- by,-the.:Milft._
<br />gagor~ ~~:: t~: _~e,~d4C,.._4a~~ ,Qt; ti~e_,:.1!~?\-_t sltCh paym~n\, _ I,;vHst,itu~_an event ,1f t.k~'~'l1j t under this mortgage. The
<br />MOrtpgee, may~ collect -a ..h~-e- cflargeU not to exceed four Ct~ts (4{.) fnr cO\ch doilar ($1 ) of each paYI';1ent ~nore
<br />than_ tiftetn ft 5) -days in arrears.to CC)ver -the e)ftraexpe1\~" :_l1v:J!wd in handling deHnquent'Pa.Y1nents. '
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<br />;~. Thai if the tot,al of thr. paynHmt~ mad!' by tiw \lortg1:t}!"or Uliij{l.f of p:1ragr;.lph :! pn~(~('ding :-;haU exceed
<br />_tbQ)aJ~I.IIft~j6f~p'_a,E,!,!ft~ act~HYJ'l~ hy t~(' -\ltlft.gag(~(l fur ,qround rf"l1tf'. t:]x~'~, and aS6iessme-nt<.; or insura.nc-e pre..
<br />miums,aS IlIe "l!.~emllY be, such 'exc"~s, d the loan" ",,,rent, ,it the Optlon. of the)"o<<;ig"89',~,Hbe credited by
<br />the \.1o,rtg_agee on_ $ubsequent paynmnt.s tu h(~ m;1d(~ by the :\lnflg;~ur. qr i{ofunderl to the Mortgagor. If, how{tver~ the
<br />monthly paym(~nl..~ ITh'ldc by the 'Mortg..lgor under of p;uagraph ~' prcl'{'~{in~ shaH f10t he sufficient [0 pay ground
<br />NPt.., tnQ.S and--.ass-essmen~ or inHUf3nCR }Jre_mJumt">. ;j~~ iiH~ (~a.~p nn~ lit', .,'\lwn 1lw :'"illmtl ..,hail bocom(} due and pay'"
<br />able;'lhen iJw~lort.glt,l!Ol'.;,<hall pay 10 tht, Mort,l!'<ll(t'e any a"'Ol..nt n,'"e",.,,,y t" make up Ihe deficiency, on or before
<br />Ute daw wilen llllymelll of Su"n ground rents, laX..". ",.,...,.sm''flts 0' insurance prl'miums shall bo> due, ffatany
<br />ti_t~\l6t1j!:aplt "hall l\'flde, to th.'\lortgag.'p. in :It'wrdan('p with 1h.. pro,.i";"ns of Ihl' notl' secured hereby,
<br />fun paymenvnfthe entil'<' indebted",',,"" N'l,re,wnlpd therpby, II... \longag"" ,hall. in ,'omputing thl' amount of such
<br />indebtedness. credit to theac,'oum of the Mongagm .11l parm.:nts made undcr the provisions of (a) of paragraplt2
<br />hereof which.the \fof\gagee ha.s not b,'com" obli?(lltcd II) pay 10 Ih" ""t'l'Na.ry of lIou,sin~ ,nd UrbWl, Development
<br />jlIld any~balance remaining in t.he fund~ aceumuia.t(\u umh~f tht~ provj..;ion,... of of para~r-aph 2 hl'ceot .If there
<br />~1''''Yll::,defauh und~r any of th{' prO\-j;<JfiHb of Uti", mortg,igf' I'p::-;.uhin1l in a public ~a.I(' of the ,pwmi_,8es_c-overt!d
<br />1i~4"lIfiif;\tIt.;~.a:equl~lbejlrop"rl\ odH'''\lSP .illt'r ddauh, <l", \Iurlg"fl"" ~hllUappJ:y,.I~qlJ(dilll'L?r
<br />the comment'em~nt of such proc(1<_edin~~. uf aJ i-he Urnl' th~' pfOpt'rt~ i;-o (,tht:.1f\\-'1:--(' lH_'quirerl.. tht' halancp thpn femain~
<br />ing in the funds ;lc(~umuilltt~d under j.,i ni p~ragraf1h 2 pn'ct.ding, a~ a Cf(-dit ~nin:-jt tht" amoufH of principal then
<br />remaining unpaid un~r :'"-aid nou~. and ~haU prI.JJH'.rh ;idju~l ;~H~ paynwu{.... '.,hidl ...h:1U have t.H'en mad-e und{~r ((1/
<br />I)f paragraph ~,
<br />4,. That !f1e ;\1()f!gagl.Jf wiU p.iy ground ,ent..., l.;.!\(;\- ~i;':"'1:~"mt:m\, \'\",ale( :i;:te~, MId \'ithcr guvernmentaJ Of municipal
<br />charges, fines. tJr impo-3ittons-. for which rri'i\:j~j(!n h~1~ nm fteen m~IJe hel'ein-beft,rt::_ ~nd in default thereof the Mortgagee may
<br />pay_the ~ame, and {hal, the Mortgagor \'\.-ijf promptly rlehvc:r the nflk-iat r~ce-iph therc-h'f hl the Mortgagee.
<br />5. The M-ortg<d@-of win pay ail IaXe~ whkh m.n- r.e- kvied liptln the M-nng;q!cc.s interest in ~ajd real es.tate and improve~
<br />menb, and which nti\'y he ie-vied upon rhis {nnrtsage- Hf the clcht :"e-cured herer.\' j ntH vn~y w the c\tent that "iuch is not t'rohibit~
<br />ed-by law 4nd (lnjy r-o the ex.tent that :-..ucn wiH tH)~ makt: thi", j('l1U u,,-,unt}U;\:i, put c\.duding ,my income fax, State or Federal.
<br />,imposed nn Mortgagee, -Hnd wlH fik the official rct.:-eip:l 5ohowing o,u",;:h payment \\ llh the \fQrtgagct. l;pon violati(ln of this under~
<br />taklng+ or jf the Mottgagt.,r Iii pruhibited by ~tn" hi',;!,' now {If hereaf:et existing froUl paying the- whok t.1f any purtion of lhe afore.
<br />said ta:\e~. \)1' upon the rendering 'Of (iny '~'urt Jeat'e pn,'hihnlrl$:, the payment t,~ the ~h)rtg.ag:of or any ,..uch taxes. t,)( if -such law
<br />or de~ree provides (hat ~Iny umount 'H\ p.tid hy rhe Mi)ft~HgIJr shaH be \.'re\ilteu fin the mortgage debt, the Mongagce ,h~dl have
<br />the rig_hi to give ninety thlYS' written noti..::e to the uwner \~f the !1wrtgage-d prt:mises. requiring the P;j, men! oJ the mortgage
<br />debl, if such notice be gl.en, the said debt shail become due, papl,le Jnd ,'"l!eclihle al the e\pjrallon or said ninety' days,
<br />6. That ~_J.i to pay any -sum or keep any-cove-nunt ph_1Vlded t\)f ill thj~ Mortgagc~ then tht: Mortgagee,. at its op~
<br />tion, may r.a~iiK,pe~f,Q\,! J!l.~,~~. ~1lI,l,a1be~l)d;lI,It:~,.~,o made tb. 41tbe ,..ided to t~ principal sum owing on the ah,we note,
<br />shall be se~ured ~reby, and shanl>eannterest <It Iii<' nile ,et f,irth 1ft the said nOle, until paid. .
<br />7, Thnt he helot-by assign_s. [raQsfer~ and sets over {i} i_he 'Mortgagee. to he applied {oward the payment of the note and all
<br />sums secured hereby in cas_e 01 a default jfj the pcrforman\:1;.' of i.tOj uf the tam~ ,Jfld (onJiriotls t)f [hh J\1ortgage or the said
<br />not~.. aU the renh-. revenues, and incofne to be 4eri\'ed from the mt.~rtg.aged pn:miscs Juring ..,u~h time a~ the mortgagc-indebted-
<br />tnlf.Ss,SbaI11'elllaitl.\lftl'a.i!I;ll!ld !l!c,M,)f~ >i1allhav!> pvw'er,lpapl'\lIlIt anyagc;nt <1f:ajlenrs .t may deSIre for the purpose of
<br />~,sai<f;~ses. alid<lf'hm~ same and.,."l~~ the 'ems, .,evenues :uidin<:ome, and it may payout of ~aidin-
<br />~ 11Il~pj!1l_,,,f repai(il>!l.iaid prerltiscsan</ neceisllf) 'comnlission. and expense' incurred in renting and managinilthe
<br />...<an<l;<lf...~t\g.r~ therefrom; theblllal\(Oe remaining. if any, to he applied toward Ihe discharge of saUlmOrt[!Jlge
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<br />illde~"'~<ii'lliiteeiilie'lmpr..weiu.,ftl.noweXim"ll ,)f here"ft"rerected on the m<irtgl1J!<'d pmperly,in,uled as may be
<br />required: from r!m~ ~() _iinw b)' the- Mortgage~ against NSS- by hre iind ..liner hal.arJs-, -('''3-sttalries, and <.:'ootitlgencie~ lfl such
<br />~.~f<lI'~~5c!l$_Yhe:tequifl!d by .rheM"rt~.g.e and,,,,, pay pmml'tly, when liue, any pr<"!Hum. on such
<br />~-"qv~,:fOf~payl'ftt!tJl',ilf'whidl.bas-not bten ~~,~ hC~f,iJ~bet.\lu. AH m~urant-c ..hall he ~~tTjed in compunic-:) ap~
<br />prtlN~bytb<:c Mortgqo!e arid the policie, and renewal> tbel'el1f',lial'!<e hdd by the Mortllll8ee ""d ha,e aWleh.d lhereto loss
<br />pa.....)ilOl>...I<l.;lall~. 'in.fi\y~,,~,jl!\4~f''fc1l,l,. ,~tq,l~!\~" IO.90,l!.1'II J",." :,tortga.llor wdlgi,. In.'mediat. nOll,'" by
<br />nld..".~;.Wftd~Y' m.a:ef nl!1 mllde.pr"'r~'Pff:r!iy.MOI'tgug()r, and each rnsurance company,,,,'.,
<br />, . mem inr sudr !<)s.dirul!yto the Mortpgeejnslead of to tile M&t""r
<br />nim;~ ~tuce(td~~ -of any pan t~fe~)I. tlHI~' be &ppbed b\' tht! MOflgagee al its \lPtion either
<br />~.'" <<l.... r~iyf>"I1~1<f.,jl!eP'911'l!:tY~I~.,In."''''''1 "f rorccl<;,
<br />llf_m..lhenmr~.d ~y in t'\tIMHj',hmen.(Hf,IIl<' inde;,te.r""" secured hereby,
<br />tbt._M~'PitUf tn-a,~ ,toil1i)i i:O!liouUtJh':;(t fl'vtKles. tnttl-m f-('!'r-(<<;', ~'ha.trp-a~~ h~ the PUH;'fU.l~fCT or grant(;e.
<br />9..... ;f.Mt.......'1...~. ...w...'........~.'... . ....'!<l....^."ll..'."f.a...h."curil),for.lhe. 1'11.1',,",. ".I.'''.th<e''''~........ '.~'..~.' ".I,l.:.lIl.I ~.m' I.". "".c.".'.me
<br /> Jue under this
<br />~, tl!tlJ,fOtlfllli<lt~r"l>f "'*lfllJ.'~ I" the Mmtll'll!"e Jlll'rolit>. re"~i r;:;y~~;,'titht, aM benelilnw\lrUllllt<l t~
<br />"",,"~,~f..")'Jl!Id all ,lit and ll""""''''' ,Jft1Ol.id PW1\'S;;" with IIIe nlllll II' ,e<;d,'e ;md f",,;'ptfnr l~ o;;ime ~nd apply
<br />~""Mlid:IOOel>t!lOd~'" "" !!>'ell bo/'lfe". atlel .lei..,,!! In!he <;OOIItt<<IIl' or lil" "'''fi~!I<', an,] the Morl~~e_v dem..".!, 'lie
<br />flit. _,<,va M\)'>ud, paym.mb ",bo'n dl,K ~ill.i~fiJb\ll"J)\!" .~llllt'I.l:><;. iJ,"fJIH,..j ,,', w,1<> nH~ ~~,,~nt " tll letnli"ate
<br />liIlO~....ul<""h....""up<""t'l"ii,,,,'IJl>i''''.>rt~ ..,<c.' .. ..... '
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<br />'j\)!l 117 I 4:lM; {9> 191
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