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<br />83_00260','
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<br />(I) month prior roits due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to the Seoretary of Housing and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder; or
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<br />(ll) If and so long as said note of even dale and this instmment are held by th!, Secretary of Housing and
<br />UrhanDevelopment, a monthly charge (in lieu of amottgage insuroftce premium) which shall be in an
<br />amOll1lt equal to one.twelfth (1!l2) of one,half (1/2) per centum oflhe average outstanding baiance
<br />dlJe6!1 the note corilpu~d without taking into account delinquencies or prepayments;
<br />(b) A sum eqW!llo the ground rents. If any. next due. plus the premiums that will next become due and payable on
<br />pollcies of fire and other hazard Insurance covering the mortgaged prop;>rty,plu. taxes and assessments,neJ<HI\le;
<br />oil the mortgaged properlY (all as estimated by Ihe Mortgagee] less all sums already paid therefor diVided by.;tIw
<br />number of months to elapse before one month .prior to the date when such ground rents. premiums. taxes and
<br />assessmenU will become delinquent, ,uch sums to he held hy Mortgagee in trust to pay said ground rents, pre.
<br />miums. lues and special assessments; and '
<br />Ie) All payments mentioned Il1 the two preceding subsections of this' paragraph and all payriiellts;to bemadeun~er
<br />the note secured hereby <hall be added together. and the aggregate amOllnt thereof sh~1l be pafd by the Mbrigagor
<br />each month ill a single payment 10 he applied by the Mortgagee to the followmg items in the order set forth:
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<br />(I) premium charges und-t'r the lontrad of U1suranL'l' wah the Se('f~tary of Housing and' Urban Devclopmentt
<br />or monthly charge (in lieu n.fmnrtgage insurancf premium), as the case may be;
<br />(II) ground rents. taxes, assessment., nre and other hazard imurance premiums;
<br />(Ill) intere't on the note secured hereby; and
<br />(IV) amortization of the principal of said note,
<br />Any defiCiency in the amount of any such JAATfgllte monthly payment shall, unless made good by. ~'~,'1rt'
<br />gagor priOr to the duo: ,i.'He u-f The next s.u.:h payntcnL t.'.nns.tllute an ~"'ent of default-".'undtT- this mortgage~- The'
<br />Mortpgee may wlle,t a "late charge" nN !O exceed tOllr cents (4,) fo, each dollar ($1) of each payment more
<br />than flfteen{l5) ,lays in arrears to cover the extra expense involved in handling delinq\lentpayrnents,
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<br />;1. That if t!IP tOI.1 of lht' p"rmrnl~ madl' b" !hr \lnrtl(<<gor undrr I L; 01 paragraph 2 preceding shall e"ead
<br />the amount of pjiyments act-uail~- madl~ by th{~ \lurtgag{lt~ fl)f ~round fent.~. taxes Md.a.s.sessments or insurance pro.
<br />",!ums. 3.8 !he ca,;" rna\' b.., ~u<:h n('ess, If the 1001l IS current, ;illhe option of the Mortgagor, shall be crediled by
<br />the \toftl(llgl'e ..n~ub8;qUt'flt payment-< to be mad., h\ th" \l"rl)!"l!or. or ",funded 10 lhe \tor/gagor, If, however, the
<br />",,,nthly pa~menls made hv the MorrKagor under Ii,,! of paragraph 2 preceding shall nor be sufficient to pay ground
<br />n-nt~ taxc~ llnd Il~:"e:-ism~nt:-, or IfbUranl't" premium~, a~ tilt' i'~t' may he, ",hen thQ ~amp shall become due and pl.\y~
<br />able, tht\n II", Mor4l"llor shall pa" to Ih.. \Iorl!!"!!".- an\" amount n"""~8al)" 10 mak,' up the deficiency, on or before
<br />tile da'" wh..... pa~'II1..nt uf ~U('h gruund renl'. ta",", "'<8"88m"nl~ nr insurance premiums shall be.dul). If. a.t.l1tiy
<br />Urn" the \loril!llgUf Mall t..nd..r io Ih.. \lorlgaUf>p, in "('('"rdam',' .,itll the provision" \If the 110le Sel'Ur\!lrhereby,
<br />full pay'm""t of lh.. ''11ti.... ,"deht.-dn.,,,,, '''p"'",'nt,,,1 th"....by, th.' 'Iortgage.' "ball, in eUlltpuling lheamoun/ or such
<br />indebtedness, eredil w ,h" ""CUUT!l of th" ~lort8agor ,>11 payments made urn.ler Ihe provisioos off aj of paragraph 2
<br />h,>roof whkh the \lor4laglle hll, mH hm,om... ..bliRated 10 I'")' 10 Ihe ,,,,,,,'retary of Housinl( AId Orban Development.
<br />and an} balatl<'(' r..maining ill .he fund~ anumul"..-d \lnd1'f the flftJVi~!on" of (/>) of paraltf1lph2 hereof. Wthere
<br />:-,hall n._' a dt..fault undt'f an} He tlw pn)\.i~ion"" nf thh mort-gag.' ft':"uhin,g in a publi(' :-.aie of the pr~mi~~lS eovered
<br />h...",by, or if th.. \lorti<al':"" <<,.qui...., th" l'rnp,.rt, o.h.."""., "flN d,'fauil. !h.> \Iortgag,'" shall apply, allhl) lim.. of
<br />thp comnwn(.-t~ent Qf ~u{'h I)ro('(l-f~djn~.:o'. or at flu~ {im~ th~~ pflJp(~rt~. b otlwr",i;-o;l~ (H'qulrt~u. tht~ bah.loCt\ then remain-
<br />in~ in Lht~ rund~ J..:'{'umulab.~d \.mdPr I i of para~fi\ph ! pn-u-..tlinJ!, ;t~ a rn.dit ~~ain:-oit thp amount o( prineipal then
<br />rt~a.min.l! unpaid Ufhh_~f "'i,.uti flnHi. ami ~hall pmpt't1~ adJU'!l1 any pa.\mt'ni-~ whil'h ",hall have het:-n mad(' ur1th~r (aJ
<br />of paragraph ~
<br />4. That :hc .\1{Jng<:i!:.td \'dH pay gllJUnti .n:nb, t,I'H""", ,h'lC~'HlCnh, '."'.<ller fate:>.. ..md ,.Jlher governmental or municipal
<br />(harge"l. ftne.., lif ImrHJ....ioOfh. ft,J( ~hKh prO"l''''!) ha' !l(l.l r-ern made hert'lObt-f~)rc-. ,-H1d in default there"f the Morfgzigee may
<br />pa} the ~';Hnt.': ;Hh.l rh4t the \'oft!1ag~H ""Ill pftHHpll~ ..khH'; lht' \;ific!al f-t:'<.'Clph therdor h) [he Mortgagee.
<br />-\, The .\h\ttgdgfH \.\oft ru~ ,Ii! Li\e... ",tH~h md~ he,' k'dc:J Itptll1 the \-1(}ng~lgcC'., lll(eft,':'J,l in said re.IJ t'\tate and tmprove~
<br />mcm". ,md ~hl(h m;;h ~. k..icd up~'n lhl" nh,n~wgC'..1' the ~khl"e,-urt'J hcrd')~ (put lHlly h) the eXIt."nt that su\.'h is not prohjbit.
<br />cd hy !ii\\- ,-tl1J 1.1nl~ to the t;'.\lcnt thut ..u~h \i.oil! fhll nh\J..t" ItU'" ill.til u,uwlu:>.L but f.'\duJing any ineum.: (<lx. Stale (~r Federal.
<br />impo~t:'J ,)0 \~I)rtgaa;:ee, ..md \\.m file the urtklal H.';.'!;"lpi ,ihlwm~ ,>uL'h pa>'nlcnt \\-Hh the Mortgagee. Lplln viol.ati()O of this under.
<br />taking, (')r if the \h1-Hgagnr IS rruhtbiled t'1-~ an\ law now llf hereafter C',lilijtin~ from raYing th~ y,..hofe or ,any portion of the afore~
<br />satd taA('S, ,l( upon {he rend-efJng of an, court de(;ree pn)h.biung the payment by the, Mortgagor tlr any su..:h ta.\e~. t1r if such In\\-'
<br />or de<ree Ph1\'it1t\ lhdl dO\ ~inWunl .,,,1 paid lo~ tht" MOn:gu~hlf "h..11J hi:' ,-'redited ~Hl the ml.Jrtgag( debt. the Mongagee shlJJl have
<br />the fight to give nmely li.,)~' \\fltten nntK'e: t,J the \l'ol.llci" of the fIhlflgJtgs:d rn:,ml~e\. requiring the payment of the nhlrtgage
<br />d(bL If sut:h nutlet be !:l,'ell. the ~.aid. de.t'!t shall be..:,.lrnc due, p~YOJble and (tl-Ile\.:lible- ,jt the: expiration of 'laid ninety day!),
<br />(l, HUtt ~!lUuld he faii to PU) ~1ny ~um ~)(' keep au; covenant pruvided f\n In thi~ Mortgage, then the Mortgagee, at its op~
<br />tion, IU.01y pa~' t)f perfm"m the same. ..md ail t'.\p-end.ltlJre~ ,t,) !l:l,i.tde ~hall be ;uide.d to the principal sum owing on the aoo\'c note,
<br />~hafl be S-e(:ureJ he-rei:ly. ;wd shall benr uHercs( at {he fJte S('l forth In the ~tHJ note.untiJ paid.
<br />7. That he herdn' assign;.;, transkr.'1- and sel" (wer to the Mortgagee. to pe applied toward the paymem of the note and an
<br />"lUllS ~el..-ured hereby In (:..t~rC: \)f a defauh In the performance \~f a[j~ of the term, ~mJ (:IJnditiun~ of this, M(\rtgagc or the ~ald
<br />note, aU fhe rent'l-, re\cnues and in..:ome h) ~ denvcd frum lh.e tlll.JrtgageJ premhe:'. Juring such tiOlt' as the mortgage indebted-
<br />nes~ shall remain unJ1<iid; and tbe M(.wtgagce shall hayc power to appoint any agent or agC'ots it may desire f~)f the- purp~.lse of
<br />rep.airing'~jd rrlt-f1USC.!) .and of l'e.nting the ~ame ~lfHj L(1He~ttng the reoIs-. re.....cnues. and income. ~lnd il may payout t)f said in-
<br />l..'Otne-s allex,pt:l't,se.s of rep.airing said. premlSt's anJ ilC'e~S1.iq! ;;:~Hnmi;'i!)iQm ~1nd cxpen'j.e~ in,"uncd in renting and managiAg the
<br />...~ "tlll of colle<:ling rentals tMre!rom: the balance remaining, if .ny, to he applied toward the di>charge of sRid mottg811e
<br />indo\>le"-,.
<br />~, TltIilhe will keep the Improvemems "0" existillil Of hereafter erecled on the mortgaged pTLlpen~. insured", may be
<br />requlttd f/'llln time lOti"", hy tbe M,.rtgllj1:ee against loss hy fire and other hazard;. ,a'\laltie, and ",'ntingendes in such
<br />ami>unb and for su\:h i~{lOd", a~ may 1)( required hj tht: ;\4lirtgage~ and \Io."iU pay promp{ly, when due. any pre-miums. t1n such
<br />jJls~anec prQvi.~ton ftlf payment of which h,a" nl...,t heen made hereinbcfon:. AU m"uranl,.:e :-.haH he carried in \,'ompante~ ap-
<br />pt",,,.dl>y.tht MorfJll.<ll"" and rhe pclkie, and renewal, thereof .hall be held hI' !be Mortgagee and have attached therelo h."
<br />payabi~ t.'litu~n Hl- .fa\'or of and in f~)mi ~H.:~ept~lb-k' 10 ,he Mortgag~t'. in t\nH of jl.lS.~ .\-fl,)rtgag\)! v. in 8ive immediate notil.:e b~
<br />roaU h) lheJ\'h)f'l~B.e-c. who may fl"l,.a.".e pn1i,)-f of !r.~", :! o\,lt made pwmpf.1y P)' \f(H't~~U!, and each in~lIran~e \"ompa.ny ~lHl'
<br />c~ b.'~)' authtmtfd and,dtflttted w'makt pnymel1f fnr \U\.:h ios~ dm:cny It) the;: Mortgagee I.n~tcad of In the M9ng.a~of
<br />and,',~ MOr.tpgce !(Hn"(ly... ~ud ,hi' U):'HU.H1I,:e pH)o(;-e-ed"t, {If ~Hl! pMt thef('of. rna~ be 'applied' hy the Mortgagee at its ~1pHt.ln either
<br />t("* the redu4J,U)O of the inde-bt~ut:t.:'! hcritb} 'l.c:cun:J Pf to ,he re...i{lfulion j,.f fr.p<tir df the propen} J.;mw.ged In event of f..1rl;.I....lt1.
<br />"'~ o(lhi, ,",~,>r "111,,1' tfans1ef ,,( titlet" Ilk tnortgcaj!l!d properly in eKti!lllUtdlmenhlf the intiehlrdnes., ;<,..red hereby.
<br />a1~ ricbt:,~ art4!nleft'l$l,of tM',Mflif.J'd:'i't in a.ft<fk. jtly insitr<trK~e'p.otki(:~ [hen jrdof..:e -shaH Pll"" iI,' the rU1I..h;.i!-.cr ~H grant('e
<br />9' ~. 3~ l<<14W~.")fl-.ai and ...'vn~h.'Tal.';.t'\:urj!:r for the p~l:yment nf the nlJtt' dt~\-l'fiheu. .mJ iiH ",um~ hi b-c(\)m~ Jut" undef thh
<br />lU'~f~(', d~ Mt.'f?~fi!:{K h<'fet::~- Jt,...~~~n~ to the \'1ofi~~e< aU pr<Jfi~~ re~:.(Q,~e~~ r~)i.al~je~., ftght~ ~md benfth.., <i\.-auinll to fhe
<br />Mo.tl~-ll ~'n4t! i4fl) MHJ ;'l.H .'!:Il and g...fi!' k~!>j,c~. t}O: ':..auJ wrtl the nlM hl t~V(\ and. re.:ctp{ f.,~r lhe ";Ullt anti apply
<br />them ~Q tiilid in~~kN.n-t..J~t~~ Jt\ '.\-eN ~forf: a'~ .itler delauh the o;:o'nd~finfl'l t)( th1~ mnrt;g.agx. j!ld fht: Mt'ITtln,ee ma}' demand. "W,'
<br />tvt..u\d f'(t:'.(>lr{'f att'! ..\,Kfl. .p:#)'rtu."tttlJ w'h(-J1 due ;md Jhiy...hk. hut ~JliiJ! n.ot he r~*Hh,;d 'HI hI do This t1.....igmncN is it,j tennlllut(
<br />~ ~-l'tJm,(' m~H ;irt-d >'{:-t~j ~tP{lri >("tJt.,"~'(: "I ~ht'\ RSf~f1~,,;
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<br />HU04iJ~14JM W,,1~
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