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<br />83-002605
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<br />(I) month prior to its due date the annual mortgage insurance premium in order to provide such.h';J~er
<br />with funds to pay such premium to the Secretary of Hou.ing and Urban Development pursuant to the
<br />National Housing. Act.a. amended. and applicable Regulation. thereunder; or
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<br />(n) !f arH.J so lop..g as. said note of e'!e~ date and this Lrtstmment are .held by !h~ Secretary of HousLf!g and
<br />Urban Development. a monthly charge (fn lieu of a mortgage insurance preinium/whi~h shall be ina~
<br />amount equMto one-twelfth (1/12) of one.half(I/2) per centum onhe, averajle outiltanlHngbalante
<br />due on .the note computed without taking into account dellnquendes or prepllyments;' . .
<br />(b) A sum equal to the ground rents, If any, next due, plus the premiums that will next become due and payable on
<br />policies of tire and other hazard msurance covering the mortgaged property, plos tlll<es. and ~Sl>ssmelJts;ne1lt dUe,
<br />on the mortgaged property(a1la.v estimated by the Mortgagee) less all wms alreadypaidtherefoOr diYided>bYt!l<l,.
<br />number or months to elapse befote one month prior to rhe date when such ground rents, premiums, taxes and
<br />assessments will become delinquent, such soms l<l be held by Mortgagee in trust 10 pay said ground rents, pre,
<br />miwns, taxes.and specialasscS$lll!'nts; and
<br />(c) All payments mootloned in the twoO preceding subsllctions of this' paragraph and all payment~tobemade\iiltler'
<br />thenotesect>red heret>yshall be added together, and the aggregate amount thereof shall be p'did by the Mhrtga~or '
<br />each month In a single payment to he applied by the Mortgagee to the fnBowing items in the order set forth:
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<br />(I) premium charges under the contract Ol instiranct with the Secretary of Housing and {Jrban Deve.lopmentt
<br />or nionthly charge {in lil!fJ .}(mortgage insurance prnniumj, as the case may b~~
<br />(II) ground rents. taxes, assessments. fire and other hazard insuran.'e premiUmS;
<br />(III) interest tmthe nole secured hereby; and
<br />(IV) amorUlation of tbe prinCipal of wd note.
<br />Any det1cieDcy m the amount of any such aggregate monthly payment shall, unless made g<lOd bytlllVMort.
<br />gagor prior to the uue date uf the next such pilymenL cons-utute an eVt"-or of'defauff"under"dl1s mtlrrgiige.:;1b'e
<br />Mortgagee may collect a "tale charge" not to <'xceeJ four .,<,nl> (4g) tor each dollilr ($1) of eachl?ayrnenl mpR
<br />than ftfteen ( 15) do"s tn arrear, to cover the eXlra expense involved in handling delinquent payments"
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<br />::. That if th" total of th" pa~m"nt', mad" by th.. \lOrl~a"..r under i UHf paragraph 2 prec,'ding shall exceed
<br />the lUllOunl of paynWIIl,' actually mad" by tlw \lortgage.' I'M ~round renb. taxt'S lUId assessments or insurlUlce pre,
<br />..ium.'!, as the easp ma" be, .',llt'h excess. If the luan IS current. ,n the Opt!"" of the Mortgagor, shall be credited'by
<br />the \torlgaget' on "ub~;qu.'nl p~vmetlt~ 1.0 h., mad., b, th" \lorrgal!or. or ",funded (0 the Mortgagor. If. however. the
<br />....mlhl)' pay_nls lnadt: hy' the Mongago< lmder' i'i of par.lgraph .2 pr"eedinl! shall CIO' be sufficient to pay ground
<br />ront. (,aX{'R and a~i-<{'H~m~nt"" or in~ur.:Utn: prt~mium~. a~ ihi.' i"U~ol;' may bt'>, \.\-h(lO tht~ :-lame ~hall bel~()me due and pay.
<br />able. u...1I the Mor~1ljlOf ,;hall pay to thp \Iortl!agp{' any alllollnl n"'...~'"'at)' to mak" up th.. deficiency, on or before
<br />the date wh.m pllYl1lt'U1 or "\ten !/lOllnd ",nl~. I;lX"". """"s~mpnt$ tIr in~lIrance premlllmsshall be dlle,tr tlllijty
<br />li_ t.... Mortgagur shall tendl'r to Ih.. \Iortgall'"'" '" ,,('('on/anN' with th.. provbions of lheRolc secured, h\llllb~,
<br />full paymrmt <II lb., ....ti.... indebtedn,".' "'p","'nl<'d then'by, th,'\Iortgag<'() "hall. in 1:omputing Ihll.amoultl oLs~!lIt
<br />indebtedllCss, .'ftdit 1<' the a,COb", of lhe MOItpgvr all p<lym<:llts made under tl:teprovislOllS of.( a) pf parugrllPlt2
<br />heroof wbiehtb.. \Jongag.,e h..." nol b"C<ltll" obligated to pay 10 the ~:relllry ofIlO\llling.ndUrhanOevelopnent'
<br />and an} h",lanee remaining in Ihe fund. llCl'UlUOlawd under the provi..ion5 of (Is) ofpamgl1tpb 2hetoof.11 there
<br />,-mall be a df'fault untW-t an.)- jtf th(' "ftJ..'j~ltm;-. of t.hl~ mnrt~al!.' ft-'1"'ultinA in ~1 r)ubli(' ",al(, of tht. pwmhws ('ov(~red
<br />hereby. or if th,> \lorlgag"" "'qu""~ tin- 1'f<JP"'t~ olh..r\\,,,,' .ft,'r d"f;tult, th.' \lor4(ag'... _hall apply, <tUh.. tillll' of
<br />the fotttnm~ttf'emt!nt of ~u("h pro{'f~dintH. or :H l-tH' rim.." thf> I'fop.'rty j:-, othtlrWI~" a(:quir't~d. tho halwll'tI' then romain~
<br />in~ in I.ht. fundto' a.n'lI.muhu-Ni untk.r !! uf ~Hira~ravh :! pn'n.dtlll.t, a~ ~l ('n'di t a~ain:-<t dt(. amounl. of principal then
<br />remitintnl!: unp-utd unUt'r ....::ud noh:", and ..h~iH !-'f"1'f.wrh atJju;".( an~ pa~'nll'nt..., \\-hieh :-hitll haH,> b"t'n made undpr (aJ
<br />of par~l1ljlh ~,
<br />4. Thaf rhe 'h~t~;::tSt'f ~1l1 rw~ ~fPunJ rt:nh. t.Ht'\-. ;;...~{'.."mcflb, "-ater ratt". and other gove.rnme-ntal or municipal
<br />cMf!!:e\. flne... nor Impo,iu0Ih. fnr ~'hi\-h pflHt'iun h~~~ It\'! f1el"n mau(' htfC'inbdorc, ,Hid in default therel.f the Mortgilgee may
<br />pay tll<: "Jam.:: t~nd Ihti! rhe \iDrtgagor "-IH rfilmprh- deh..-ct Ihe ~lrikli:ll CCfetpH therdor h) !he- Murtgagee.
<br />~ lhe Mortgag'_H \qt! p..t) ,tIi {ine, \l.l-ul...'n frHl\ be k-1dtJ upon the \1011g;tgct' '\ ulteres.t in \otid real estate and improve.
<br />ment~. and ,"nJL'h md-) f"l1: kyicd upun thl_"i !T{1)r1K.jj~t' l)r ~ht" debt 'tt'\.'ure-J h(,l'd'~ {bur onty Il' the extent that !)uch is not prohlbit~
<br />cd h} ia-w and lH11~ W Iht' e'tenl th,a{ ~\h.:h will fh)t ma~e thi... loan U\Uflt.!U'\d_ nul e"dulilll~ uny In\:'ome: tax. Stale (Ir Federal.
<br />impdsed on Mnftg~ig'tC-, ,-U}J '*iU tHe the- ~ltht:',,(l ft'..:elfH \hll\Un~ ..,m:h PW~- menl '^-'lrh the Mortgagc~. Upnn violation of thlS under-
<br />taking, tlf If the \iufflW-S:nl t" ph_\hibut"J h~ .w~ hi" no~ ~lr hert:after t"I"tUlg from paYlIlg (he Wh{llt' \If un)" portion of the afore.
<br />said taxe~. IJf' upon tll< rentierlOg ni ...n~ (.'\Hlrl dct..:-rt:<: Ph,lhlbHin~ lht- pa~'rnCII( M~ the Mortgasor \Jf any ~uch tax.e~, or jf such In",
<br />\lr d~-crec J"roHd.e... thot ;irJY ittJ1,iunt "\.~ paal b~ the M\Jrt~itgur ~hall t'-te 1,:relhtCtJ (\n the mortgage Jebt. the Murtg;Jgee shaH have
<br />lhe flghl to ~l\e nmety da)', wfltten nHtice IU 1M owner ,lJ the mortgaged prcumc,. re4uirillJ1. Ihe payment ,)f the mortgage
<br />debt. If 'uch ,,,,hce be l!)ven, tbe ",id d.bt .hall bc:<:ome due, ","rab]e and cHUecllbie at the expualion of ,aid ninelY day,
<br />6. That _,hould tIt fail to pa~' ~my sum -or keep .:in)- L'1..1'<en,ml rn,wlded for in this MOr(gagr, then (he Mortgagee. ~It it\ op~
<br />ttoo. ma~' pay Of p.erfl1rm the su.mc, and uH ~\penditures .;;t.l m~de ~hall tk .\ddcu to the principal sum owing un the above note,
<br />~ha11 be \t'(ufcd h~reby, ",nu shan Oe.at UHerc\t ~t! the nUt .,<t forth in the "~-lld n,)fe. until paid.
<br />f. Th..'\t he ncre-by ';b'Sl!gns. ttansJer, ;iOd ~el~ (l\;'l':f to the M-\)rtgJgee. it1 be applied toward the payment of the note ~tOtJ aU
<br />Mlm!t. \,('..:ure-d hcreh~' In ,,>;ise llf a default in the pcrforman~t': of an) of the te-r1l1~ ano \..'undhiollft of tIDs Mortgage or (he said
<br />note. ,in the renh. re\'et1:ue~ anu int;ome t~\ b< d-erncd from rhe mortgaged premise:) Juring !Iuch time as th.e n10rtpge jndeb(ed~
<br />nes!' shalt remain unpaid: aoo tbe ~h_}ftgaiet: :\haH ha\'c p-\lwer W appoint an~- agent or "gents. iT fllay de:-.ire for the purpnse of
<br />rqmirina.~ pr<:mist's. anti of renting lhe ,,-ame and ';\Jlie-.:.:ung the rent'. n:'I,'enue~ and Income, :wd it may pay out ~)f said inA
<br />~Ofhe5--.an e-,xpenta of re-patnRg saidpremilics and neces,;sary ';\.lmmhsIOO\ rind expcn~es incurred in renting and managingtht
<br />..me;tnQ uf oollectIDg rental. thC\r"frolll; the I:>alanee remaining. it any, 10 I:>e applied toward Ihe discharge of ",id mortf!llge
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<br />g, TlIat hilwlll k~eplbe imprm'ements now extsting or hereafter <feCled on I~ mortgaged property, insured as may be
<br />'e<luil'ed 'r<lll> time 10 time by the Morli!agee agait>'it 1<1" byftre and olher hazard., castmlties and c<lntingencies in ,och
<br />afIh;lunh and fl'lf 'l.u("n pcn(td~ Jl), moil be requin:d by the Morlgagct' an~J wiU P41Y pwmptiy, when dut', .JJ\} prcmium-\ lm such
<br />i_w:epr<>visi<>n, ftW' ".YTlIO'nl <If which h.s nol bel>n nlade herembefore, All inso,.n,'e ,hall be ""nied fI1 companies .p.
<br />pmvedcl>y ItIe M"'I~ .""the policie,,,,nd renev.'aI. Ihere"r shall be held 1:>, lhe Mortgagee and h",c au.ched there", loss
<br />P\I}'abk- (~bun:("s 1ft (It'd)! of and inJorffi ll~cep-table to the Mdrtgtigee. In e'j.'('nt of khS M~)rtgagor Will Sih' immedlHIt" nutlet h)
<br />J':Nj:,jJ In d~ Mor-t,ag,ee:, ":ht~ _IDa)' mu.k~ pro.of ~l k1'-~~ If n~)t made t'wmp[~_~ '"'y Mortgagor. ~Uld t'a~h InMJf.uKe ((Impan)' (lH'l-,
<br />c4fl'te4ia.."'c:-by i\ui:~'lfi1't'd:and dtrect.e-d' lo make payment f(lJ ).w:h jos.~ dlfe.::tlj tlJ (~e M<lJrtgagec ll1sltad \,,[ to Ih(' MOr'lgagt.)f
<br />~ rM~ IOUltl\, litldtll<: ;nsor"""o pmceed., or 'HlY partlhereof, m;tybe applied by' Ill<! M,lrtllagee al it. option eilh<!,
<br />u;~ tile,' liN7t{;tKm{~ th<: trWeb-tt-dn(s,:'l< htrrdn $e...u~ed (II" to tit<- Je~h)r-atjQn ~)r lc~ir ~~f _~~- property damaie\l, In (;'\-('111 of fmedH.
<br />_~thh ~ \Jf 0111<:, If.".fer c>t hUe ro tl~ nmrl....ed ptt'per!, In utinl!.mhment of the indeNed"e" ,<cured hereb),
<br />"'1 ri".!1tk~!lt!Cl~,of!ile M~ ill ""d to uny ltlSlltlln,c polk,e" !ho" il1fo,,'< ,hall p"" !u lh,' pm,.ha,'er '" !trantee
<br />~- .'tMt a~ adQ'hj.(!41al a.nd t:nH-lHf'f&1 .i-c\,:unt" f,j.)j the payment of ttw fI-Ole dl.!'S."nhed, o:tna all '!rrUUh l\,l he-l.."ome JU(: under th-ts
<br />mm-t~~ tht( _M.1.1f~'jt~H ~retr) J,f)-$fl-ll\ f(~ tl'\(: MOH8i;t~dF,-aU ~fo~t~, re'c-mj.t;\., Hl~alu(,5" nghts dud henefHs .;1-n..Tuing to the
<br />W~'}f'~ _UmH-f Jmy ,mJ OlU o.d .lil1-U !:,u~ ka~-tr;. Oft _~.iud p-tO$~~';_',*it~ :~; ~pt-to receiVe ,mil rf.\:.elpi f'lf the S,Hne and tip-ph"
<br />~-tv- taW tD4e-btt-U'fJ.t-..,~ ,iji:", \\:r.U hctm_t: ~u <iftt!f ddau1t in I-fw ('(nldhi--on~ nrfhi_" m~rl!Iagt, .!ntl ;h(' M.ortgAjt<'e uta)' dr-mand, 'tiC
<br />':Vi" ~ f"t_tV'fU Mt)"' ",u~'h pil',rrHUIl-\ wh<.n due find ptry-ah-lt, but ...4aU not 0<- rt.Q(HH'..f 'H' Ii) dr- rh,~ a~jighment Iii; to l('umrnuc
<br />-in4 ~-\Jfflt n.u.tl;ii.nd 'l;'i.l-Kt ~~piur" f'tJ~4."K A thiij, ffJVn.~"
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<br />HU(,HI1'4:lM IIHl/1
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