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<br />83-00265G
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<br />(l) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder; or
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<br />(H) ii and so long as said note of even date and this instrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in lieu of a mortgage insurance premium) which shall be in an
<br />amount equal to one,twelfth (1!I 2) of one-half (1/2) per centum of the average outstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments;
<br />(h) A sum equal 10 the ground rents, if any, next due, plus the premiums that will next become due and payable on
<br />policies of fire and other hazard insurance covering the mortga~ed property, plus taxes and assessments next duc
<br />on the mortgaged property (all as estimated by the Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and
<br />assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre,
<br />miums, taxes and special assessmen ts; and
<br />(c) All payments mentioned in the Iwo preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the MortgagOt
<br />each month in a single payment to be applied by the Mortgagee to the following items in .the order set forth:
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<br />(I) premium charges under the contracI of insurance with Ihe Secretary of Housing and Urban Development,
<br />or monthly charge (in lieu of mortgage insurance premium), :.is the case may be;
<br />(11) ground rents. taxes. assessmcnts. tIre and other hazard insurance premiums:
<br />(U1l interest on the note secured hereby; and
<br />(IV) amonilation of the principal of saId note.
<br />Any deikiency in the amount of any such aggregate Itwmhly payment shall. unless made good by the Mort-
<br />gagor prior to th.e due date of the next such payment. l,.'Olls1itute an eVent of default under this mortgage. --TIle
<br />Mortgagee may collecl a "Iale charge" nOI 10 exceed f"ur cenlS Hi) 101 each dollar (S I) 01 oach payment more
<br />than fifteen (15) days. in arrears to CUVl~r the- exfra expense IOvnlved in handling delinquent payments.
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<br />... That if th,' t<>lal of the paym"nh mad" b, uH,\lurt!(al(or undl'r I hi of paragraph ~ pr"",'ding shall eXl'eed
<br />UM-' amount of pa-ymmts: ~l('tualf)' mad~ hy tht--' 'tort-f,';a~cp for around rpnt~. laXHS and a,.;;seB-Smenls or insurance pre..
<br />mium". as the e:l-.;('- may 0", "ueh c,cess, If the Imln IS current. ,ll Ihl' opllon of the Mortgagor. shall be credited by
<br />the 'lort~~p(l- on sub;-o.;-quent paympnt,;;: to In- nuuil' h~- thp \\(,rtga,c:or, or Tl'funded to tht' \lortgagor. If, how(~ver, the
<br />,",anthly paymenb made by Ihe .\lortg"!lOr under I', I of p<lfdgraph :; preccdlllg shall nm he sufficient ro pay groond
<br />fent~ UU.e:" and lt5~"~8m(!'-nt':'" Of in~uran("(' pn-.'mium~, U:o. tht' {<a:s(" may be. \\ht--rt tht~ ~amt. ~hall betmme due and pay-
<br />a.bltL. rhtm the \JorigBAOf ~hall pa~- tu th{~ \lort~al!:t).t' an)' amc)unt nN.'"t'.sz'ary to makt~ up the defkicncy, on or before
<br />Uw dale when pa)'m~nt of ~ueh ~rnund f(.nt..;. L~Xt-.~. as.~p~;o<m."nt::<<. ur in~Uran('l-' pn'mium8 shall be due. If at any
<br />tintf>- th~ \1t)nR~r ~hail tt'nde-r to tht. -\fnrtga..l!{'-P, in :Ll'(.onlanc(' \Vilh th!' pruvi;o.;ion:-; Hr the not(. se-eurt.d horeby,
<br />fulll>1iIJm..nt of th,' .'nli.., indehi,'dn.',," f('pr.'''"nlt'd UWN,h)', thl' \1urt/!aw", ~hall, in <'Omputing the amouni of such
<br />indebtt..lness. <redit to tht: >1"toutH of ,he \Iortgag,>r .tlJ I"'Hnt'ots ma,k. under ,he pru,-isions o( f "j of paragraph 2
<br />h{'f(~f whirh Itw 'tort,(agl--(~ ha.~ mil bt.:;('t.lm(~ .Ibl ij!;uh-.d to 'Hi) to tht' ~'(>rt'tary or flou~inJ! Ani t:rh\Ul Dcvc(opmCtH
<br />and ~tn~-- bahuwt" n--maininJ! in th..-. funtJ~ ~ln-umul.\h.(i ululpr [he pfH\"i,",inn~ of if,.! of lHJ.r:.l.J.!.f'"J.ph 2 ht~r(:"!uf. If thllf(~
<br />~aU be a default unde-r an~' oj' lh-t;'- pro-vbJ(ln..... Ill' thi:-- nltJrtAa~(> I't~:-<uhin~ lit a publit- :o'alt. of I}W pn'miSl!S (:ov{~rl'd
<br />hun4))., Uf if l.tW \lorl~aKt~t-' ;u.-qujrtt~ till' pr.-'Jwrl.' ollwf\\i~l' ufl.(lr (Ii-fault, Ihp 'l(Jr~age(\ ~haJl apply. at the t.ime- of
<br />t,ht1 eomm-(~lu~em(~nt of "'ui:h prHu~t>(hng:--. or 1H 111,. t{fllt' lh(. PWfH'rt~- I"" otht'r\\-i~p ;.H'<{uin.d. th(. balanl"(~ th\:\11 r('main~
<br />in~ in tht.:~ fund~ i.ln'UmuL~h:'d until-r ' hf p.wl~rH,}h :! pft'".~.(hn.l.t, a:-. ;l Cff.di t Jj~:'l!n~t fllt' amount of prinCipal thlm
<br />remaining unptud ullder ~aid HtHt", iwd .....hail PhJfWd~ iHiJu:--t an,\ pa~'nlt.'ul~ \\htdl ;-haH hl.iH~ lWf.:'n made under ['oj
<br />"f pa"'l(raph ~,
<br />~-_ Tffif( the Mt.)ngi-i~Uf .....-it! I'd;' g.hhmJ t\"nr~. L.txe..< ;1:'l:..C)..rncol\-, \,I"tll('i' l'~tk~, ~ln,t tither gv\'ernrnema! In municipal
<br />charges. tlnes.. 1)( imp-()~itjon-;., fl..."'-f \\-nh.:h pfi,.'ovtsion h~i\ not l"et'1l m.:tJ(" hCh'lnnefoft:. .,ud m Jdi-wll thereof the- t\.'toftgagee- may
<br />pay tbe ,am~; and thaI the Mong"g'" WIlt pr,)m~ltl) ~d"er the ..rile,al r,'':<lplS therefor to the Mortgagee.
<br />,':', The Mt"-rtgitg()f \\-iU l)a) '-An tJ\t'~ whl1.'h nlft}- he- k\'le-J UfkHl the Mortgagt"('~ intere-,t in ~.tld Tt:al estate and irnprovc~
<br />mt~nt~~ and \\hi(:h may he k\ lCtl UI'kHl Ihi, mnrlgag~ \'r th(' dent \c\,.urt-J he-h.'by tbm only tll the c.\lent thai such I!> !lot prohibil~
<br />cd hy jaw anJ only hJ the t'\h:-nl that ,u..-I\ v. Hi nul uh.ke thi, ll)~lll Uf"urj{,u~L hUl cxduJing an.~ jn('ome tax. Stale llr Fcdernl.
<br />imp(h.cd on MO-rtg.lget, ~1Ud ,;.'it! me the (iftidaf frcl"lpt ~howing .\uch p;i~ [ll(,'nl \\,' ith the ~h)rt~agee, Upon violation of this under-
<br />taking_ or if the M4"rlpgOf i... prohibited ny rill} la,,-o' nu~ ,,If here-after t.~\istins from paying the whole or an~< portion uf the ,afort'~
<br />",id la'e', 01 upun the rendonng of any court decree ptohibmng lhe paymenl l>y the Mongag.>r or any ,uch ta....s. or if such law
<br />,1f decree p1<WIJ.S tbat any amuUlll '" paid l>y the Murtgagor ,hall be "ediled OHfhe mortgage dehl, the Mortgagee shall have
<br />ltx.'- right h,) give, nin<t)' day~' \\TiU-cu Of It ice to the 0", ner of the fthJrtgaged -premi~~. requiring the pay-mem ()f the rnortgage
<br />debllf such fu"ke be give!I, Ih. said debt ,hall }:\eClllll<' due. payable anJ c"lIoctible at the ",plration of ,aiJ ninety day,.
<br />b_ That shnuld he fail to ray :my sum or keep any eovt'n ~Hlt provided for in this Mortgage. then the Mortgagee. at its op-
<br />"i,m, may pay (\of' perform the !Wnte. and all cxpeuditules ~\i made :shall be added 10 the principal sum owing on the above note.
<br />,hall}:\e secured hereby. and $hall bear mtere,l at the rate '''t forth in the 'ilid nole, unul paid.
<br />., That be hereby ;"'I&n,.. transfers and ,ets o\Or to the ~l<mgagee. to be applied towarJ the payment of tbe llOte and all
<br />,"Il" ",,,ured hereby io case of a ~efaull in the performan,,. "f "ny of Ihe terms and conditions of this Mongage or the ,aid
<br />nott. aU the t-enl$, rf:\\CUUCS and 10\;ome w he derived from the !TIOttgaged prenwses Juring s'uch tHUt: a:'\ the mortgage indebted
<br />ntss ~haIl remain unpaid: and the MorLg-agee shaH have p..Jwa tt) appoint any age-nt or agents It may desire [or the putpo.se of
<br />repairing S#-id pre-mises and of renting the ~ame ~u\d coUc-\;t1ng the renb, revcnue~ and im'::(HnC, and il may payout of said jn~
<br />;;umcs..aJl-expe:-nses of repairing said p,remi~es and neces'Sary commis:'tJons and expense~ incurred in renting and managing the
<br />sitflle 3~-Or colk,tingH:ntab thercfrom~ the r-.alan-cc remOiJning, if any. HI be apphed ltw.-ard the di!\("hargc or said mortgage
<br />in;\ebted~s',
<br />K Th~t N' wm Keep the- improvemcnt, now e",i;;;ting or here-af!cf ~re(~et1 ~Hl tht: I'nortg;Jged property. jn~;ured -a~ maj tx-
<br />re-q~ire-d .fn:,Hn' time: t.ll time b}' the M'lftgagee against loss by fire anl! otht:r ha.c.ards. ~dsu.aJties anu \.'ontmgen~ic:-- in ~ud~
<br />;a"t~lUnt'i aoo Jt.'l{ s-ueh perit..us- as- maSt he requirt'd b~- the Mortgagee and wiH pay p-rmnptJy. when -due- < ;,tOY rrcmium\ llll \tll.:h
<br />ins.ut-a.~ VrQ\-is.1.oo f-vr payment _ur which has not heen made herctllc-efure. __"-H in:".U!';ln\..{; ~haH he ,,:arried in ~'~~mp;tnie-~ ap~
<br />pr~v'edby ~ M~~tpgef and- fhe p\'lhcie-s and renewah thcn;(~f _"haH bt' held by ,the \-turtg~lgce <H1J h..nc <JH<iI.'hcJ Ihere-h.l hJs~
<br />Jl'lj'ahle dau>e~ ill fav(ll' <lfarld ill ,....m acceptable IOtll.Mortgagee, In evellt 011"." Mortgagur will she """,nlialr l""ic. by
<br />llHli\t<> 11t!l ~l~e.e,.,.il<:\ may mide pnx,f ollu\\ if nOl ma<te pf(,ml'tly by MOr!!"'llor. and eat'h in""anc,' el'",pa"y eon,
<br />cerll1ldi. hereby llulh""iwl an4dir~.t"d wmake paymtnl fvr ,u<~h loss ditIKII} tc> lite Mortll'tllC" in,,",,<I of (" Ih~ M\lftllall'"
<br />ilM J~ ,11~t~ }Q41'1tJ]'. ~d_ tbe Insura.!H;'; proceeds, (If an,y raft n')~rei)f, may be .lpplied by lhe Mortgagee at it.. optwn t:itht~r
<br />W,t~.J'CdU(~no~.thie- i{1ikJltt4tW-s~ htttl:ly- 'Sc-cun.'1i _~)r tQ Ow rrl\t(lfuti~tn ~IT repair l}( t~~ pn)ptrty dam(lg~d Jo ('\-t~nt llf fort'(h~
<br />s~_tt cf-tJU_~_ m_(~r~(' VI' otbe't tr~.tt~ter vf ',ide hI the !Tiortw~~(:d prop~rty lIt t'_xtioiubhmcIH of the mdt'~h'dnt~:." SI..'l'Uffd hi.~rc~).
<br />jtn;i.Jb_~~ th~ ~_~ 1~~.~te'-to-f the- M_vrt~~or. in jnd h) any in~ur!uh.~t' r(lHcit~ then in fmfc ~han p~"'" W ih\: puri.,'_h~l~fr \H itfanter.
<br />,~ 'l'Mt_~_~.-~tt~'t,.l~#: a~ ttiU~t~t_aJ. $<:t~utir}" .ft)!- the payment of the note dt':'oi:fibcJ. antf all :.\1m~ h~ hei..'"tHlC Juc t!ndt: thh
<br />1W4.H"~.t~ fbt:Mt~'_M-:~b)-,:..~_'Jt~f\!&. -to thl' Mortg:a:gee .'iH ptullH, rtVt"rtut"". hyyahie:-.-. ngln~ ;tnd ~ndjt~ aC~fUtng \I. [he
<br />~l11p~t)t tl~i-':":..iln)' _'and :tflnU_tirnf pl< f(:ascJ; Nl, s13id premJ~{ry" '~<i.tt) the nght h~ r~~,,:t.:l...-t~ ;md rf~.~tpt (Hr the ~1lme ,inJ ~!p_ri~
<br />l~,m f{.f~W i~btt:dtJt";tS -~$ w~n Mf()fe- a~ itfltrikf~u~t in~I~_C{)rn1j,tlnn~ of thj~ ft~t~rtpi~f, "mJ the "Mmtgttgct mil,! dCfhMtd._ _~U('
<br />fu-t and rtiC1~\:('-t _ii-.ny ~uch pA-)'ftle-t}t{ wn~n -44c ~rut Piiyab-l't, b'vt- sbaH not be t-eqlHH:-J \ii.\ li~ dt. Thl?\ ;:l'i'~ignm('m: f'j. h~ ft';mm~iH"
<br />~_ ~~~~' mll! j.M- \'{}i,d tff'(Hl ,t~k_~iil.:'" 'If thh- trloN.g-att
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<br />t-!\.mn:ll4:1M 19-HH
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