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<br />83-001429
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<br />(I) month prior to its due date the annual mortgage lllSurance premium in order to provide such holder
<br />wW3:lUnds topayslidl'ptl>mhlm W the Sel:retary ofH6using and lJrban Developmentpursuanno the
<br />NaliffiJa\HousingA"f.'asamended.~nd'applicable Regulations ,hereunder; or
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<br />(u):., jf,lttId so::l()ugassald noteofevell'datem\d'flliSinstromentare held by th~ Secrelary of Housing and
<br />lJrban" Developmem; a monthly "harge. 'fin Hn.lnfa' mof.(guge' in5llrance premium) which' shall be. in an
<br />',amO\lnr'<<1ool t<>.,Jlleotwelfth (Itt2').<)f one.half (1/2) pel (",mllm ohhellverage oUlstanding bllJance
<br />due on the note-cO:I"TIputed without tak.ing into .1Ci..:ount delinquencies or prepayments~
<br />....\"tlrl';iA.$Uirlequall~t~e&\)Un.dlenl~, .if any; !>e,,:IAue, l'lus Ihe premiums Ihat willllexl become due and payable on
<br />." . ''ti1ll:fci7Stlf fire,.niloi!i1:r haz;ifd insutancecowrip,gUii: !1long-"geq property. plus taxes and assessments next due
<br />. 'on tlle'mortgaged property {till as <'stimttted by the Mi'rtgageeJ less all slim' already paid 'therefor divided by the
<br />f1:U~~et:"5)~~~opths to elapse before one month prior to the dare 'when :'iu.::h ground rents, premiums. taxes. and
<br />Il~ents will, becom"j}elinquem, suph sums .\0 be held by Mortgagee in !!USt to pay said ground rents, pre.
<br />,ltIiW1;S,UIXes.andspecialaaseJlSments; and,
<br />All payments. mentioued'in,the two preceding subsections of Ihis'paragraph and all payments to be made under
<br />the note secured hereby' shalt he added tngethcr. and the aggregate amount i,hereof shaH be pald by the Mortgagor
<br />.ea-dFmoiltff 'in:-:a' Single . payment to- be npplied' by the Mortgagee to the following j~ems in the order set forth:
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<br />(q l)r~rn.iUin charges un~~~ntrJct \1fh1S1iraH(~: \-vith~t~lC Se<::"i.:'tlil) of Housing and Urban Deveiopment,
<br />or,monthly charge (in li~~ o./mortgagt' iilSUFQJ1CI! pr;;:hl1uifl/, as th.e ~ase may be;
<br />on ~:f.O-und rents. t:lx'es. asses&1nents. fii~ and.other haz.ard insuranCt: pfennums;
<br />(HI) interest on the note $eLared here'by; and r!;
<br />(1V). amortization of thcprin.cipalof said note. H ,~' "'.
<br />Any'~ defjdel1a!~tlt~e.;~fl'f'<jl~ any ,s!,!ch. ;j~rrgak _~n(,ntbf:~ F~}:.l~'IC!!1 ~h;lIL unless made good by the:Mort~
<br />gag~Jt6 ~tller d~llMe'1if tne'l1.!jt'1mch piiyme'lll/ci:""filute kti'e\'cnt "j deLwl, under this mortgage, The
<br />MOrtgagee'may coila.'1' 3 Hlat~ ,ch~r~e'~, n~~t t,? 5xcee~ four c~ms (4~) for- each doH;if t~ I ) ~~_f .(:~ch payment more
<br />than-fifteen (15) days in arrM~io rovttVht: e~'rj eXl)t'flSt- lHvoiv('d m hamiHn~ ceHnquent 11syments.
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<br />a~ :.' .Th.a~ if flu:> total of Uw pi;Lymem,~ ~la{h~ h~. the \lnrtgtlgnr undt-r .~, Hi' p~qtgr:~p~:.2 pn'cpdin1! shaH f.~xceed
<br />iHS ~~P&t p.ayment$ actually made by t~('- \lm~I,gag~C:' for ~round rent~. t-~,~~ a~a -,n~~fr~~~.e~1l.s or insuranc(: pre-
<br />miums:'~ thc- ("ase mav he. such excess, If th<.' !<Y.ID is current, ;H ,he <;)'pttOO of,.the-~agor, shall be credHed by
<br />the \!origago;e on subs~'qu"ntl'aym('nts tI> he l1Jllne by the \longagur. HI' refunded to the \ltlTtgagor" If. ho,,,wer, the
<br />I'lonthly payments made hy the Mortgagor under "f paragraph :' prcC~dHlC ,hall n0' he sufficient to pay ground
<br />~~)'axe8- and.a&o;essntents or in~urance premiumi"'. as the tat...;p ma~ hl\, \\fWn fnf' :--am(' :-;haJl become due and pay-
<br />"","4',; Ult'-l1the MOI'lf!~'Of shaU !,IlY Lo the Morl~al!''t' any' amount n<'{','~"al)' to muk,' up the defki..nc}, on or before
<br />\ht!dalewlltm !,a)'ment of soch j!.tound n>nl~, la.X..~, >L~,,(>"~"m..nb or insurance "....mlums shall be du,," If at any
<br />u.'the-'\1OnR8jror .shall tender, to th{'r 'tortgagr'f', in iH'('ordmu'p \\ith thr- pro\'i:-iiHn~ of th{< not~ sHcun>d hprebY.
<br />full payment ~of tit.. ,'nlir... ind"blt'dnps, fep,e.sc"l<'{] thereby, the \lm1!!:igh' ,hall. ill {'omputin/( the "mu~nl of such
<br />indebtedl)ess, credil to the d.C~'OIlnt of tl~ Mortgagor "I! pa}l1"'n" made under the provisions of (ll) of paragraph 2
<br />h_("hicb Ute \Iorlgag..ebas nollwl'om<> obligaied to pay w ,Il<' ""<'fetal} ulllou"ing ..nd Urban Development
<br />and any ballUln\ rt~mainin~ in tlw rund~ ~-H'("limulatpt.! unrl~-'-r tht' pru\ ~:--:i(ln;-;. of i i of parJ.graph j hl'H)Of. If thcn~
<br />~,tJij:fi&~efaul(l!,n~,e_~ ~n: _~~.~ H~.t! l!f(!~_i~,l.un.'" ,~f lllt:-: mo.rt~a~t> H.A~u~tin~ m a public ~ale of th(" prpml~~~ ('o,v{~r~
<br />:;Jlil~'b:~''.'ibf,r:IIi'(f~~it~~,,~i~~:f>nlpPr1\ "lhpn\l~(' aft.'r d"lault, dH' \Iortga~"" ~hall applj', ltt'tm-timt'of
<br />the ('Qmmenl~en1(~nl of ~l'h pro('epding~. Of at (ht. i1mt' tht" prupprty 1-- oth(-~r"L.;t.-> :J.t.'quin'd. the balancp thpn remain~
<br />iog in th-t' funds ac{'umula~ under f :,) -of paragr:.iph :! pf'i:'("e4.Hn~. ;1:-' a ~:rt.'dit a~aH!;--:;t th(~ amount of printipal Uwn
<br />remaining: unpaid und(.r :-::aid nOl{>o and :--.haU prnp.~rly :UIJU:--l ~m\- pa~mt.'n!- ,...hh:h ...tw.H hav~ ht~pn madl' undpl' (,;j
<br />of paragraph 2,
<br />..1. That the Mortgagor \V1H rJ~ ground r.:nh. t]\t~S., J..;s,C"''".lnem,. "'~I1t,'r ;a::e'>, ;il'l.u Plher gL'l-\ernm~ntal t)r municipal
<br />('.harges, tines, Dr imr{)sition~. hlf \-\flh.:h Pf;.,l\'lswn hd" Hot been maJ~ hen.'mhi-i,,'n:, .tnd. in -default there;)! the ~1ortgagee may
<br />pay the sam,'; and that the Mort~.g~)r ~.tH prompti]. ddiHT thCI..Ifficiat rC~CJph rherdt)f h) the Mongagee.
<br />~, The- .f\h,lrtgagor win pa\' aU t;nes \\hich ma\' Ot--:' i~\"ied upon the \turt~~lgt.'e'. uHi;.'rc:>>lln ~itld re~,t estate and improve-
<br />ments, and ".hlch ma~' be Ic\Cied upon !hi-s monga~l" ,)f the di'~t s.e"'-lIf~J tH.~n.t.\ !t'lIl ...nh it) the c:\h.:nr (hat sUt..'h is not prohibil-
<br />ed by ):.l\\,' 1ind nuly hl the c\te-nt that "ut:h ",.il! n\.Jt milkt' thl~ h'~in 1.bUfhH.l.",I, lout t,'\duJ!og .HI\- inc,)rne tux. Stale \'f Federal.
<br />imposed nn MOrtgageC', ~nd win tile the (Ittkial tC(\-'lpt sh')\\-lOg ~uch ra\ ment \\ ah the MOflga.Jl,ee. Lpun \ inlation of this under-
<br />taking, or if the Mortgagur i... prllhitmeu hv an~ l;l\\' ntl\\. ,,tr ht7r~after e-\hUn~ fh)m payill.)t the wh(\le or any portion of tht afore-
<br />~id tax_c~, Of u~}n the rendetin~ (~f an} (OlUt de~rc~ rruhtnHin~ the pa\ meft! t'\' th~ .\1mtgagof (.f ;tny such ta\e~, \1r if such law
<br />or dt:~ree provlde\ that "flY amuunt :0,\1 f).aid ~\. the ~h.\ft~~\g.Ol :-;hall ~t" ,:reJHcd ,in the /n.t.'rt1!,l~e ..ieht. the Mongagee ~h"i1 have
<br />t~ righ1 10 gjy~ _ojnet~_g~~''''' Wfl!l~n m..l-ti,,-.:' t~' the ~\\\n~r of the nhln~,l~C'dpr(mi~c~, !equiri,ng ~he ra~'~lenl of the ITIl,lrtg.age
<br />deN, If suph ri6l~UlltWn,lhe ,a,d debt shad become ,We, pa,,,bk all,1 ,,'!le,'uble a! the e'puatlon "I' "lid mile!) d,,,".
<br />1>, That mtlitlll*flIil ""'p.y~:MIy..,>;lIIn "f.~p li'iy cL~"!l\provl~ 'h'l'ihitlli"Jlit(jrf~, then the Mortgagee, ill il\ op"
<br />rion, malO ra~flF)sa"""anqalh";\~lI'iiture"'.C>lllaJco.haIt~3d<kdtd!therrincipal ",m "Will!, on the abow nole.
<br />shaH be SC't:ured hereby. and shaH hear intcre!.t at ~he r:Ht'"....et fnrth 10 (he ..;aid nll[t=. until p:ud.
<br />{, That he hereby a'lj,\gns. lfansfer~ and <:,eh 0\-("( fo the Mt'>>"tgn~ee, tu t"e a~plied h.1ward the payment of the nute and .ill
<br />sums secured hereby a" \:a~e of ~ default in the p~rf\'\rm:.1n~e of all} of' the h:rms ~lnd ,,"fl1iOirion!'l uf this Mortgage fir the ~ilid
<br />note. aU the renu., re\'enue~ and income to he derived from the mortgaged prenll:ies during ~uch time ~tS 1he mortgage indeblcd-
<br />~:!Ihall~_~n un~_~:slutlrhu.''''''e{lt\Jal>pQihlltllYijIeO''(Il' l\!l,elIlJjt may desire for the purpose or
<br />.repairina,said ~prem:isbs and of- 'rcntinc:1ht ~me dnu ("('Heeting th~ re-nls, re\'enues and income. ~tnd it may payout of said in-
<br />OOIJR' llltiexpemlIlSof ret*irinJ. >aMi premi""" and nece$$ll1Y commission, and expenses incurred in renting and managing Ihe
<br />~an.tof ooltccting ret1tal. therefrom: the l>ala~ remaining, if any, to l:>e sPI'!ied !"ward tbe dischar!!e of said mortgage
<br />indt1llllaw\ DO, 'd ,: '
<br />8,/f:bllf:~,will:1I~, the.imrrovementsllow e,isting ,... here"fler erecled on lhe "'~;'lI:~Y; insnred as may be
<br />~quired from timt- to lime tl-)' the Mortgage~ a~.<lin~-t h~s~ t...~.. tire ..t!td nrh(f hazards. casuallies anti c-nntln{leocies in such
<br />~ldlllf0i'!mcltperiOOsM_rberequire<lI>VlheM"T\gilj(<eatld WIll roy prompllv, \\hen due, ,lilY premIums <>n such
<br />~~f<W'""yment ofwhid. """'DoI. been lljQ~fme. ,\II insural1ce shall be "'lrfieu in <oolpanies all'
<br />p<<wed by the M<~e ~nd lite "o1.k."" and renew,<ls thereor ,hall be hdd by lhe Mmtga.,ee and have Mtached thereto '"ss
<br />payable ~uses m......'tllf~~tl/tIl\>I_~~I~ Illi't'l1$Ufc'losdtN!gag,'r will gi", immed,ale "otice by
<br />mtlii....~, woo may "'.~e pmol <>f I"~"~ If r"j( m.de pfOmp!'V by ~f"rlgaRor, and each illSurance company <on.
<br />~~liIIhb"~ed and dirc:cted 1(' make ,,"vmentl,'r "Idlloss directly!>., lhe Mol'l!ta~ inSlead ,,( !"Ihe Mortgagor
<br />lOllCl..me ltilrt~e ;;'~lllly, .n;llhe lIl'lI,anee p<v<<ed" or any pan IhN<<lr. fIlav be &I'Pli<d hI' the Monlll\il<< al its oplion either
<br />~~.IMei>tllilltiO"eb.Y ~'liI'lo1'II\iIlt;,'ftiti&t ilI'reflijflf~lttip~d8ltl~, hlievent ol foredo,
<br />_<!t_~w'oll!"fnlmIf~of ritk;tGthe~<:<l PfOl>Cl1Y '" e'ltngui,hme~<1he Indebledness ,ecured hereby,
<br />.aD rieM-~ tide.oo i'tct,f'e"1 !:.tf .he \h.1rtJagor ." ~nd t,O any huurartcf p-(.~ti(;j(S then in kr..:c ,hall pas~ to the pun..~ha"t'r Of grantee,
<br />~. '. That. ....~ MUl.... '.tW._1 a.nd. <.oI..'.ale'.'al "'. <'litH) (or the .r..YI"".~ ~......'.f. the n.OI.e,de . . ".nd '1..1. 'tin" t(> be".<llllC "4e,~nJier Ihi.
<br />-~, lhe M~>r her~l>ta,..Il!ft. I" the M,ll1lt4<le ill!' ~ .:"'~ ~" ,,)lilt, ''''0 t>endlt"llet'l'U1Ilg '" the
<br />~~ U:.~.lUl)' :lointt 4H nil ~nd 'in lc~\C" on ~N pre'!'tH:\f~', with ttiC"rl,mf cceivc ;md re(~tpt' (tv f~ ~~me and npph'
<br />tlIom lllllilid iqjj.,btedlof".., wdl b;!fOfi' '" .ft.,"kl....U in it", cond,bvn",r I hI' m';fiSllll'" omd lhe Morl~m"y dem.nd, ,ue
<br />f~..-t ~~~'~, in'll': !iU(ft payuwnh ,,--he:n d~~ _!l4 ~~-t.but :!i-,ha,U not ~: H<qUtr~d ~n 11\ ..ht fh!) j}~~t",_mc'" h ((I (ermmate
<br />_h<<_....lhnd ",,,", lip'''' ,..1.,_ .,. Ih.. ",orl.Mb. ,;~:
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<br />H\! P l\:" 4)<<1 tlH9l
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