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<br />(l l nunttb pour to Yts due Jate the auoual nuntgage msuran:c prenuum m order to prnvrde such holder
<br />wrth funds to pay v premtam to the Secretary of Fluusmg and 1 n Derelnpment pursuant to the ~.
<br />National tloutkng Ac....s amended, and apphcahle Regulannns thercu+..,tr, ur
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<br />'~fi 1) I( and so long as said note of even dart and this utstnunent art held by the Secretary of Housing and
<br />Urban Dcvetopment, a monthly charge (inliru o/a rnnrrgagr ursuranr•e premium) which :hilt be-in-an
<br />amount equal to one-twelfth (I/I?) of one-half (1/?) per crnturn of the average outstmdin;balance
<br />due on the note computed wuhout taking into account delinquencies or prepaymen[s: 1
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<br />ibl A sum equal to the ground rents, if any, next due, plus the premiums that will next becomrdue and-payibtr nn C
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<br />p+nc~ies of Cue and csther Isazard inwrance covering the mortgaged property, plus taxes and asttssments next due ~
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<br />on the mortgaged property /all as crrimarrr! h}• rhr Morrgager! toss ail sums already paid therrftir-divided by the ~
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<br />number of months to clapu before one month prior to the date when such ground rents, premiurni,-lazes and Fy
<br />assessments wd! hccnntr delnquent, such sums to he held by Mortgagee in trust to pay >aid grountl..rents..prr -
<br />rnmms. taxes and specia) assessments; and -
<br />t t) All payments n-+enuonrd ui dsc two preceding subscchuns of this paragraph and all payments Io be made_uridi:r
<br />the nnu :cooed hereby shall he added together, and du aggregate amount thueuf shall be paid by lheMurtgagor
<br />each month m a single payment to he applied by the !slungagee to the following rttrns in the order ser~fotth. -
<br />(1) prenuum charges under the Contract of msurantewnh the Secretary of Housing and Urban Ueveluprnent,
<br />ur monttdv charge lrn Lru n(mortgage insurance trremfum), as the case may be;
<br />{III grvund rents, la%CS, a55CSSmCRIS, fnC and oilier t:azard insurance premiums; ~
<br />t II11 interest mr the note stcurcd hereby, and O
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<br />(IV) amurttzatron of rfic pnncipal of said note .
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<br />Any dellcuncy m the amount u( any such aggregate monthly payment shaft, unless made good by [he Mora .~
<br />y,:.gu: pra;r to tl~c dac Date ::f :hr next such pa;•n~ci~t, a~nsnmtr an event of default under this mortgage. 71ie
<br />!dortgagec may tt>liect a "late drarge" not us exceed Gn:r cents tae) fur each dollar (SI) of each payrnrn.t more
<br />than Ilftcen 1 I51 days u+ arrears to cover the extra expense involved to handling delinquent payments.
<br />a. That if rhr 4rtnl of the payments made by the Atortgapor under r51 0[ paragraph 'L preceding Shall exceed
<br />rhr amount n( payment... actually made by the'11nrtRay:rr for eround rents. taxes and assessments or insurance pre•
<br />miums.as Ihr rase may be. such excess, tf the loan is current, at rhr option of the Mortgagor, shall be credited
<br />rhr Mortt;acec nn subsryurnt p-symrnls as br made by rhr Mvrtgapor. or refunded to the 1lortgagnr. If, however, the
<br />monthly payments made by the Mortgagor under f6/ of paragraph ? prcccdtng shall not be su((icicnt to pay ground
<br />rent, taxes and assessments or insurance premiums, as rhr k•asr mac br, when the same shall become due and pay-
<br />able, then the 4lnrtga€or shall pas to the Mortgagee am amount necessan to make up the deficiency, on or before
<br />rhr date when payment of such grvund rents, taxes, asses~mrnt~ nr insurunrr premiums shall be due. If al tine
<br />time rhr Mortgagor shall tender to rhr ltortgagre, m accordance with the previsions of the note Secured hereby,
<br />full puymrnt of the color mdebtrdnr~s represented thcrcbs , the Mangagee ..hull, in cnmputinR the amount of Such
<br />uedeMedncss, credo w the accuum ut the Mortgagor ail payments made under the provtssons of (ai of paragraph 2
<br />hereof which the yfortgager has not isre~omr obligated to pay In rhr .'+rrrrtary of ltnusing and Urban Dere!opmcnt
<br />and arn~ balance remaining in the funds accumulated under the pnsci_duns of (G; of paragraph 3 hereof. If there
<br />shalt br a default under tins of the proytsions of this mortgage resulting in a public sale of Ihr premises covered
<br />horrbs, yr it the Mortgagee acywrrs the property otltrrwise titter default, rhr Mortgagee =hall apply, at the lime of
<br />rhr cvmmeneement of such prorrediags, or at rhr time the prnpert? is ntherwrsr acymred, the balance then remain-
<br />ml* in the funds accumulated under rbi of paragraph 2 prrrs•ding, as a credit again..=.I rhr amount of principal then
<br />remaining unpaid under said note, and shall properiv adjust tine payments which shall have been made under (a/
<br />of paragraph '?,
<br />.. That rhr Mnrgagur udt pay ground reins. taxes, assessments, water rates, and other governmental or municipal
<br />:barges, lines, or rmpvsmnns. !cr wh¢h provismn has not been made hercmbefore. and m default thereof rhr Mortgagee may
<br />Pao rhr same. and that the htartgagar wdl grumpily dehvcr rhr n(fiaat receipts thereinr to the Mortgagee.
<br />~ The Mortgagor will pay a!1 taxes whrch may he levied upon the hfortgagec's interest in said real estate and improve
<br />meets, and whrch may he levied upon this mortgage or the debt secured hereby (but only tv the extent that such is not prohihil-
<br />rd be law and only to the extent that such will not make Chu roan usunousl, but excluding any income tax, State or Ftderal.
<br />imposed on Mortgagee-and will fife the official recupt show-mg such payment wnh the Mortgagee. llpan violation of this under-
<br />taking, or rt the Mortgagor is prohibited b any tas: new or hrrraftct rusting from nayin¢ Ihr whole or any portion of the afore-
<br />said taxes. er upan the rcndenng of any taco decree prohihmng the payment by the Mortgagor or any such laze ~, or i( such law
<br />or decree procidcs that any amount so paid 6y the Mungagor shall br credited on the mortgage debt, the Mortgagee shall have
<br />the right to give ninety days wnncn noucc to the owner of the mortgaged premises. regmnng the payment of the mortgage
<br />kfebt. H sus h notice he green. the card debt shat) txtomc due. payable and collecuble at the expiration of said ninety days.
<br />h. That should he tali to pay any sum yr keep any-covenant provided for m this Mnngage, then the Mortgagee, at its op•
<br />uun, may pay or perform the same, and all expenditures so made sha8 ht added to the principal sum owing on the above note.
<br />shall be secured hereby, and shall bear interest at the :arc set forth in the said Hate, until paid.
<br />'. That he hereby assigns, transfers and sets over tv the Mortgagee, to br applred toward the payment of the note and alt
<br />sums stcurcd hereby in case of a detach m the performance of any of rhr (ernes and cvndninns of this tslortgage or the said
<br />note, all the rents, revenues and income to be derived from the mortgaged premises dunng such time as the mongage indehted-
<br />ness shat! remain unpaid: and the Morigagec shat( have power to appoint any agent or agents it may desur fur the parpose of
<br />repaumg stied premises and of rrnung the same and caticcung the rents. revu:ues and income, anJ a may pay out of said im
<br />.amts a8 expenses ~f repairing said premaes and necessary comnussions and expenses incurred in rrnung and managing the
<br />name and of collecting rentak therefrom, the balance ramaming, d any. to hr applied inward the discharge v( sasd mvngagt
<br />indebtedness.
<br />g That he will keep the imprtmvrments now erasung or hereafter erected on the mortgaged property, insure) as may hr
<br />required tram time to time hs the Mortgagee against toss by hrc and ether harards, cnsuatnes and cununSrncres in such
<br />tsmaunts and for such periads as may to required by the Mnrigagcr and uiil pay promptly, when due. any prermulns nn such
<br />insurance provision for payment of which has nut hero made i~errmt,r(+ire..4N insurance strait he carried in compamrs ap-
<br />prtncd by iht Mortgagee and tht pohncs and renewals tlrrrcol shall be t,rtki by the Mortgagee and havt attached thereto toss
<br />i€ayabtt ciauxs in favcu of and in f,xm atteptahle to the Mortgagee Ire rent of h=ss Mungagur wilt give unrnedea!c nntrce by
<br />marl tes the Mnrtgagtt, who may make pros+f of last i! mu ma:lc pr.+mptis~ by Mortgagor, acrd each msurancr company cnn-
<br />.rrntd ix htrcley authorized and dueaed !u rnakt payment far suite lass directly t~. the ttortgagcc inured of to the Mortgagor
<br />and the Mosigayts }emtly, and the insirrancc proceeds, or at:y part thtieui, nsak he appl+rd by the Mortgagee of u, a{:tiara either
<br />is+tfat rtducuvn ofthem+khltdMSS hereby st vred csr la thursRsr:ruars nr icp.-,n o!thr pruprrt5 damaged to rcrnr+,f ferccio
<br />sure of thtS murtgiytr of other transfer ui title tv the mangaged pnspcrty u; exunguishmcnt et else ^rdcbtrdness seuarrd hereby,
<br />art rytht, 4rtit and tnktrcst r3f tkc M:~rtQagur io and (n an s' +nsuransr Ix=li<'ir> then in (++r.r s!+,ili pass t.• the pure hacr~ .,r {;rantee
<br />4 Thy as ;.d•-fttx€~':.;i and te•idatrra) securi<y far dtc p.kyrrecrt ,d the n+NC ate+c n?u<i. and art surru t.= t.et _~me du: +mder ibis
<br />nuxtgagt. ehc Mcx3g~;or herrtty assigns t+r Ihr Martgafrce s}i prdns. re ~cnur;. i.>?ari ie*. ;+gtats and hr negt, ,.ctuuvg to rhr
<br />-e.4,xrttra~sx under any anti art o+# anJ gz-s tcavts on sakd prtmase s, u:tks thz •:;.h= r_.-. r.,..sr and rrs r~;,+. t••r rhr ,time and 3t:p:y
<br />i lsrm tc, ltd a»ftbud~ees 3s welt hefc2rr as kfter dtfauk in rhr ca».tnrors d this vnsiriagr. aasJ #hc 4t c, <y;,egi-r m:,+ ,i<~a:ard, .uc
<br />f~u and rrtasvcr wag ro;h pass;rC errs when dot and gsyabk, but :ball no± hx rrrltorrd ss r ~„ t leis ass;gnes~ i>t rs to :ee minaie
<br />s?ia: '.ntkt`. AB nki~ 8isyt i`~Tit vM'n reitart a)f th#S nk9atEaRe.
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