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<br />(I) nrtaatD poor lu its due date the annual mortgage ursurauce prennuni m unler sir provide such holder
<br />watlt funds to pay sue 'cm{um to the Secretor}' of ilausuig and UP Development pursuant to the -
<br />NaOonal Huuvng Aa, a., anrcndcd, and applicable Regulaunns ihcrcunu.., sir
<br />(I!) if and sn fong as said note of even date and thu mstrarncni arc held by the Secretary of Housing and
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<br />Urban 17cvtlopment, a monthly dsargc r
<br />in !re•u of a marrgaRr :nsurante premium/ which shall be in an
<br />amoum equal ro one-twtl.ttti (I/i?1 of one•half (1/3) per cenrwn of the average outstanding balaoet
<br />dot nn the note computed without taking onto ac'rnunt drhnquencres or prepayments; - -- -
<br />lb} A sum equal to dte ground rents, Sf any, next due, plus dre prcmaums that will next became dam and payablE nn
<br />politics of fee gad miter hazard insurance c'rrvrring rhr mortgaged proprrty: iglus razes and assessments next-dur ~ - -
<br />an the mvngagcd proprrty /aiI as cstimarrrt br the M1GJrrfagct/ fens all sums already paid therefor divided tsy the
<br />number of months to elapse befort one month pnvr to rhr doer when sudr gnaund rents, prcmzums, taxes and. "+~
<br />assessments w9i became delinquent, such sums to t?e held by Mortg;agce in oust to pap =aid ground rents, pse• -~-
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<br />nuunu, taxes and special assessments; and ~ _
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<br />ict r11! payments menuonrd in {}ac ;wo preceding subsccttans ai- this paagraph and-all paynunts to br made under -
<br />tlre note secured hereby shat! he added tugeutcr. and the aggregate amount thereof shall be paid-by the klrntgagtir -
<br />eacir month to a single payment to be applied by the Mortgagee u.= the following terms in the order set forth:
<br />(1} prtmmm charges under the ~-onuact of msruaacr wath the SecrN.ary of Housing and Urban 17cvdzrpment,
<br />ar mornhky charge; rn taco e( nxurcage insurunrc~ premium/, as the case may 6c;
<br />(11) gtoun.i rents. faxes, asstsstnenis. ;sic and ++thcr irarar.1 msutance p:rmiums;
<br />±lli) mt rest on the pate srcnrcd hereby, and
<br />ftYj am?riuatzon at the prmcifxal of said note
<br />:rty uc,;.arr, - :r .+~ a.,.,,un; of ~ny such ag<G.cga .......surly l+aymcnt slratl, unless rnadc y~rod.hy the Mott-
<br />¢agor prrw tv~ttar doe dart of the next such payantur, co:as=rlptc an crcr,t of default under this nsongagt. '17tr
<br />Mortgagee may cn,'leet a "fate charge" : e*t ,;r rxcrcur €+n:: cuts t-iv°) fc+r Bach dollar (St l s=teach payment nxate
<br />than Et(teen (!5'r d~°s r.=arrears w cover the extra rx~nst rnvut vrd m handling deitngatnt payments_
<br />,. That if rhr ieaiai of the payments made lay the 'linrtgsgur under i'=t of paragraph :! preceding shah exceed
<br />the amount of payments artualls~ made by the 5funga,ler ttv ¢raund rent=, taxes and avstaswmt±nts or insvrance pte-
<br />mium+, as the riL.r mas~ bee, eut`h exre4s, :f the !van is current, at rhr ulxaon of the b{ortgagoz, shall he credited bt
<br />the 11«rt}!a>nrc an sub>r`gvt•nt payments to hr made try the 1}c>,rtgagnr, nr rrbmded to lM• :yMdpagot. 1f, Leavrrcr, ilia
<br />month's pay-mrnts made by the ?kkaragagor under I!~%of ptsrca!<rapir ? preccdtng shall not br suffietent to pay ground
<br />rent. taxes and a_4sassmrntu sir incuranrr premium=, as Elie ry:'r ma)- br. when for same .~hali isecnme due and pay•
<br />able, then the 5iarigagar shad pay to the tlortgay;er anx amount :rs•cr=.an it, make up the da€ieiency, sin err before
<br />ths~ dait• when payment of +;urh };round rents, taxes;, a.sr~imrnts nr ;n urancr pmmiumc .shall tar dur. if ui ans
<br />time the Akrnga}inr +haEi tender to rhr 1tnrgagrr, .n arcordancr w;tl, the pruvrsions of the note secured ht*retry,
<br />fuel payment of rhr crotire tndcbtednra mpre..cntrd thrn'bt, the A±+,rigugr•t• shalt, in rnmpu[ing the amount rat such
<br />rndtbrcdncss. tredir to rhr acceunr of the ..'tiinrtgsgss a!€ t*rssments mast u~#er d:c }xov+sratw of rat of paragraph 2
<br />herent which thc'.fartgagce has not keanome obEigated to pad to ihr `^wrrrtsn' of Housing and iishan Urvetapmenr
<br />rind ans` tralance remaining in rhr funds ac:°amulated under rhr pane=truss of ff.i aF paragraph 2 here-af. !f there
<br />.,half tx• a default under any u[ the prnxt~rons sit this m+srif;age* rrsuinnt; m a publii sale of du' prrnuxac enscrrd
<br />hereby, or is the Akorgagee aequrres the prapert)' uttrs'rwrr after ,irfau}t, rhr lksrtKagee ~.'aail apply. at the time of
<br />rhr s•vmmrncernent of such prnrecdarsFi, ar at the tame :lrr pr:+prra,~ +~- r.thrrwt~r acquired. the balancse then remain•
<br />inp ;n rhr funds accumuiatrd antler ~'-= o, pangnph '~ pmcsnl,ng. ss a reedit afiacn<i rhr amount of princapal than
<br />rcmaininq unpaid tinder 'yaad note, and ~l.3il property adtu5t :u?a p;;gmrnis x-let ch chap h:txr been made under fns
<br />of patsttraph `?,
<br />That the hie=;gagc~° uiI? psi };r.^,and rents. east:, z----+saentc...arsr rrtcs, and uthu pavernmentai az manrcipal
<br />.'hnrgcs. lints. cx a:npusurans. ?err wfst,h pros:saon bas nut pernrr.;ail, hrranhcforr. and ua default thuct,f she hiartg,"igte may
<br />par the .amt: and that rhr Mart}atiUr aril prcnaprl) deliver rhr rN~itta: rtctapt+ Iht!cfar :++tbc biartgager
<br />7tx Sortgsgur wtif pay ail !axes ~-hx,, .,:ay !?e leveed upon !tit 4imtgagec's ;rttertst rn sard real csta!e and rmpmve.
<br />menu, and whrch may Eae leveed upon ihrs mortgage or the debt secured htre?y that only to tht r xltnt that such rs nut prohrlait-
<br />rd by ;,tw a:td Doty la the extent that each wrlE not :Hake !has loan usut=.uusi, but exciudtng any tncnmc tax. Stott at Ftderal,
<br />imposed en Mortgagee. and wilt h!c the tetficial re, eapt shawang su.h pagneent wnh tht Msxtgaget. L'pan violation of this undtr-
<br />takreg. or if the Mortgagor is pruhrtattd ; y any taw now u: hereof ter txtstmg frrm paying tht whnft ar any poruun of the afore
<br />card taxes, cr upon the renderang c€ any seurt decree prethihinng the payment by the !.iottgagur yr any such taxes, ar rf such law
<br />ar drtrtt prasrdes that one amount so pard by [he Aiortga~r shall be credited sin the tnurtgagt debt, the Aiortgagtt shat have
<br />the nght to give ntnrly days' w~rattrn noirre lu the owner of the msutgagrd premises, requretnp the payment of the mortgage
<br />sfebt. !f such nvtice ht given, the xard debt ahai's taecamc dur, paya{»c and ro',lcctiblc at the txpiratson a! said ninny days
<br />b i`Aai shaukl tie !azl to pap an xu+n sir keep any covenant provided !sir an this ?sinrtgage. then the Mvrtgagot. at its ap•
<br />ta+n, may pay or perfazm the .saint. and alf expenditures so made shall he added to tht principal surn awing en the atwve note.
<br />shaft t+t sccurcd hrrrbp, and shat! hear miuest ar the raft set forth tit the card Hate, until paid.
<br />'- ?'tsar he hereby assigns. trans#ers and sets os rr ra lht btuttgugte. tr he applied toward the payment of the note and aH
<br />st•tn• ucurrJ hereby in last sit a default an the prrformancr of any u€ the germs and conditions of then bluttgage ar the raid
<br />mute. all tlae :tots, revenues and income to bt derived from the mortgagrd pscmrscs during such time as rhr mortgage indtbicd•
<br />Hess shall remain urspaad; and rhr hlartgaget shall have }Doer to snpuint anF agent ut agents .t may dtsur for ihr purpose a!
<br />reparrrng said ptcmtsts and sit renting the same and coiitcting rhr rents, revenues and rncumc, and rt may pay gut sit said an-
<br />comcs a}! expenses of repairing said premises and nt.cssar;~ cumnttssions and expenses tncurrrd in tenting and managing the
<br />saint amf of taltetting rentals rtaert(rom; the ta3antc remaanirag, if any-. tr= hr applied toward tht drscl:argt n1 <aiJ mortgage
<br />rttdr=<trdntsx.
<br />R Thal ht will keep the impr~vcmems nrrw exietrng ar hereafter trc.ttd en the mungaged prupcctp. insured as may bt
<br />;tguirrd Irom rime to time by the Mortgagee agarnxt kris b)° !sir .ere! <*ther hazards, casunlises .end cuntmgtncres na aac3+
<br />amsmnts and fvr such peri~nals as may i,t requited rev the biarigagrt and ~aat; pay prcmpdy, when dur. an}= premnrms on such
<br />insurance pea>iahm far paymtni of svh ~h has nut btcn made lmrrrnkxf:ve .41t ursarrancc shal€ he aareitd m re=r»pnnres ap-
<br />pruted Ft the #slvrigagtt and the policros sod rtrrtwah the-;tof shall be bred by [Esc Msxtgaget and has~t atta~htd thaccta tars
<br />~s~af9ir ,rdauses in forge of greet in Irani ae'ceptablt ter tha Mortgagor lr+ rant sit lies: Mongagur u-ri? gist rnrznedrate nntsze by
<br />+*ia:} tt - =,";,gaftc, r'a:..• .^akt^.: ~•t ,~=f i~sss rt n;,t mys7e rsrumutsy by ~tacapagor, and rash insurance company e<m-
<br />r<rned is hrrri?p authoria^ril andedircLttd to make payment feu such lost :4rectJg tc> rhr Csisrrtgagee lrasttad of [r rhr ttartgngnt
<br />and hr Mttttgagti lceiritly, arts! ihr insurance prtrtrtds, ar any part thtrtu?, naav ht apphett M Yht 4iurtgagte sit tis apt±on either
<br />ist alit rasiucEUxn tr! th8indtbltdnrss hereby ucu€rd ar to the aesizrakars cr repair of tFt ptuptriy damaged let rs~tnr .,r fcsrtcla-
<br />sstz,g of tats mx~stgy;r.at ietlaer tranS(tr ~! title la_ the mattgaged pr uptrty nt txtltsgutshmcnt of ;he rndrMednrss scct:rtd htrebyo
<br />Ali Yx~ht;-elite-at6~3nfK3kst n( (hr !.~iMi$BjtGN inu~ to Bay insur,Yria;t pt>f.: eea titCn cnft'n'c[ it:~#e .r5ts to thK par: h:cse, err g-SeFitet.
<br />k. '1'ttas a+ayt,#ittrr°sal ansirrllatrIal ari°urity fat t3se ssaymtrri-c,:$ ihr n:Nr dcaerrfxd, anti ail earns rco- l;cr,s,mt our nnxtrt ihrs
<br />rn:artgisgs. rhr Mt,rtgr,fitrr hereby assigns to tear M~xtgagtt a€€ pnar<ta_ rr,tnuts. ;tatahsr°..'rPhts soot t=tnrhas vucrurng ice rhr
<br />'~#€Nlga~ptir eetsairt any ,artd ail tint once g;,3 1taaCx rTn sa[d Srrtmxses, ?~~; rt, tfse fl~,nr ts, ,eteave ant€ rr r!pt hzr Iht .ante and aPnty
<br />?t~sn -r _.aiil tndr2+trilttt~s as wc-litorfurt as atitt dtlauli-tn the c~ndrtezurx -the r~ ~rtx~agc. nst the "dnx:gngre mar dtrsttanri. sue
<br />4~r sr~ x4ci~rax rtny sa:,h #~Y"ntn(s alien anS pagat±ic. but :Ara#1 r t , r rt:it:rr •`u s~s t.~ d,, rr~t. s,.;g sarstnt as t~f ttvts matt
<br />attf~tse€ time nso-il a:sd vts~t utwn oleos: irf thin tnt3titttr..
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