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<br />83-002659
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<br />(1) 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 Developmenl pursuant to the
<br />NalionalHousing Act, as amended, and applicable Regulations thereunder; or
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<br />(h)
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<br />(II) If 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 (lfJ2) of [me,half (l/2) per centum of the average outstanding balance
<br />due on the note comp\Jted",'ithout taking into account delinquencies or prepayments;
<br />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 fire and utIler hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (atlas e3timated by the Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the dale when such ground rents, premiums, taxe, and
<br />assessments will become delinquent, such sums to be held by Morlgagee in trust to pay said ground renls. pre,
<br />miums. taxes and special a~ments; and
<br />All payment. mentioned in the two prece<:ling subsections of thi, paragraph and all payments to be made under
<br />Ihe note secured hereby shall be added together. and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a "ngle p.yment to be applied by the Morlgagee 10 the following items in the order set forth:
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<br />r
<br />
<br />(e)
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<br />(I) premium charges under the ,;ootTO':t of 1llS\llancc wilh the Secretary of Housmg and l'rb.n Developmenl,
<br />Qr monthly I.'harge tin liet4. ~Jl mOFt,~QKt! insumnce premium). as the .case may be;
<br />HI} ground rents. taxeJi, ass.es.~ments. fire and (lther h,l1:ard insurance premmms:
<br />Oil) lfiterest on Ihe n,}le secured herebv; and
<br />(IV) amQrtilalinn of lhe PrlnCtpal (If ,aid nnle,
<br />Any deflctency III the amounl of any mch aggregale monthly payment shall, unless made good by the Mort,
<br />gagor prior to the due date of the next su~h payrncnc ~OI1~titut.c an l~V("tlt of Jcfault under this mortgage. TIle
<br />M(lrt~ may c<>lle"t a "late charge" not I" exceed I."" (.etUs (4~) lor each dollar ($ I) of each paymenl more
<br />than fift~ (15) day. in arrears 10 coWr the extra expense "",olved in handling delinquent payments,
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<br />;L That if th.. total of th<, pa~'m<,nt' mlUl.< by Ih.. \lort/!at(or und..r It i of pal1l!<lllph :! p",,,..din/( shall <""eed
<br />the l\I1lount of pay",enl,< actually made by th.. \lortl(ll!l..... fnr !!fOUnd r..nt'. taxe" and assessments or insuran".. pro-
<br />miutIL". ..... the "...... mav he, >'t/d. excess, tf rhe loon IS ,'urren!, ," the option of rhe Mortgagor, shall be credited by
<br />the \lort.gall"e on "ubsequ""t payments [0 ,... made hy rh., \Iorllla!!or. or refunded to the \lortl1al1o," If. howe"..r, the
<br />monthly payment" made by the Mortg..gor undt'f If,) 01 paral!raph 2 precedlfll! shall not be sufiicicnr to pay ground
<br />rent" l.axes and a..~S~.sB.mMlS or ihSUran(~t. p-tl\miym:-. a..~ lht! {'US.1- ma~- be. y.'hf'f1 I.h(\ :-;am(l- ::-;hall be(~ome due and pay-
<br />able, thon tit<' \lol'tllllllOf ...nail pay 10 tlte \k'rtll~"" any amount Ol','pssary h> mai", up th,' deficien,'y. on or befort!
<br />th.. daw when payment of such /(nJund I('nt'. la,,,~. :lss<,ssm"uls or In"urlUll',. premium.. shall b.. due. If at any
<br />tillte lit.. \lottlitll!!Or ,mall tend... lo tit.. \Iort!ll<~". in a,,,'unlall"" with Ih,. proVIsion" of the nol" s(','umd hero by.
<br />full paymt!t\l of tht; entin. intk>bh.dn".. "'Pre",'Ul{,d the,,' by . ih.. \Ior!/l.I1.... .half. ill ('omputinll U", ..mount of such
<br />tnde~... credu to the account 01 tilt MortwOf ,111 f"'ymenrs maJc under tll.. ptunslOns of (u) of paragraph 2
<br />h_f ..'hit'll tho\lonll~ ha.;, oot b..,'ome obi il1at<'d 10 I"l\' lO the "",'rNary of lIouslnl111nd I'rhllll Development
<br />...<1 any ballift{.t. remainiftJ( in ttlt' funds u,'.'umulttwd und..r lh., prnvtSiOM of (,_; uf parall"'ph :! her,'of, If tht'l'"
<br />~atll be a d...Cauh un~f an~ Hi UW ptO\-j~lon~ ul th.... mort_l:ap.t' rt'>.~ulhnJt U1 a pubh(' t-;uJt" of tht~ p~mi~H~ ('ovf.~rHd
<br />hereliy. or if tht' \long~ acqui""" th.. prop""t, "lh,.tw...., aflt'r d..rau!t. rhe \lort~a~.... ~hall apply. at the timt' o[
<br />the t~mmt.tu~emftAt- Hf :--ud. pro\:~in~~. or at ltlt' IImt' tht- propi'rt\o. t::< olh('r~i....~' ;;U'qUift'd. tht.> hulanet-' du"n n"ma'n-
<br />in~ in the Cunds accumulatt>d: ImdP, Hi parltl(t'B,)h ;; prt.,...+din~. ,1~ .. l'f(~il attain...t, thl' amount of prindpal thml
<br />.....ajn.ng unpaId und.11' -...d ",,'e. ..nd ..j,<<lIl""pt.dl .,dju~[ ,"" payn"...ts which ~hall haH' 1H....n mad,' und,'r I,,}
<br />of (>lU'llil""l'lt t,
<br />4, lbat tht: MOfl~}j '>Ai.U t"N.t} ground r('fH~_ t~l,\('~, ~t'\;.t~..mcnh, v.,-.alc:r [iite\-, ;mo other gu\'t'rnmc-nlal Of munl~ipal
<br />t.:hat-se:~; fine.... Of IAlfl't)!tjtitJn~> fOf ~hi-i.;J~ rhl\b~()n ha., !iOl hecn .nade herembeh'>ft:, UIlU in Jdauh the-fenf the Mortg.agee may
<br />pay tbe ...cun<:. and thlit (he MOftg,tgt.lf ~iU pftHnpa) d<il\'<'J l~ \.1tlki41 h,,:(('iph therefor to the ~hntgajee.
<br />~. The Mort..)! ~,n pity all l~u..e~ whh::h ma)- he: le\-ied upon the ,,"tortgage-c',\ in(efe~t in ".ud re~l c~lale druJ impn)\'e~
<br />m~ms. ~nd whi\:h ma,~ be k\;,ltd Up'," lht'!< nh.lng.agc Of the de-ht M:UJrcu hefthy l~ut l,nt;- In the extent thaI ~uch j, nOI prohibit.
<br />ed. hy 1&\'\' and unl),' '0 the elh:nl thiSt "w.:h \1...tH n"Jt tllukr thi\ kHtll "hUfhJUSi, hut c\duding .m~- ifh,,'\lrne lax.. Slate or Federat,
<br />impvstd on MOftgag-ee, aud wW t1k (he lJrtkJ~i tt"~:(Jp-l \h:tY"Ulg 3u~h Pii)1UCIH \Il;'irh rht" Mongal(cc 1..:1'01\ \'lUlation t.Jf tht~ under.
<br />taltintl. or if lite MOftlllliU1 i, pmlul><te.J t>, an,I." ."", ,.r be.eafter e\t.long f"!l1l pilYlllil the whole or au, p",ti"n of the <<fore,
<br />said tax-c-~. -\)f upon the T't-ndt"Iing vI an)' (~}Un de-cree prohfb.tjn~ the payment hy the Mortgagor ~lr ,Hi)' such 'a:\e~, Of if such kt\\'
<br />"I'de,;;r<< p({>vidb that an, amount _" !'il'..! 0, the\l,w'tpgor .bal/be .:.e..!tted on Ihe Ill,>rtga!!e debl, the Morlgagee .hall hav"
<br />tlte ri&bllO gil'e ninety day, ...riuen not",e !<I In.: o"n,:! .,f lhe miJfltlag"..! pr.mt..., requiting the payment of the mortgage
<br />debt, If ,",ch nutiee be i\i>en. lhe \.aid detrt _haJJ ""c,)lIle due, payable and colle,lible allhe .'pinllion of suid mnety days,
<br />6, ThaI ~Id Ite fail to fl;lY 411, sum or keep any. ,'"n'" ant pl'l>\'wed for in Ih" Mortgage. then lhe Mortgagee. at.ls op,
<br />tion. may' pay or perform tn.: same. .nll <<1I ..'peu.JitUlC> '" u>a.Je .hall be adde<i 1\l the prindpal sum owing on Ihe abo'e note,
<br />lIball he !l<<Uled hereb\', JU>d shall bear intere'l at lhe tate set forth in the >aid note. until paid,
<br />], Thallle hereby ",signs. transfer. and >Cts c"er tOlhe Morlgagee. to be applied toward [he p<lyment of Ihe llotl' and all
<br />'lUlU' ",c..red herchy in ea", vf a default in lhe performance of any of the tenns and condition, of Ihi_ Mortgage or the >ald
<br />note. all the renb, revenue. and inc"me 10 be <ierived fwm lhe mott:gaged ptemises duting such lime as Ihe mortgage indebled,
<br />_ sWrelUlIUtulij)aid; anti the M~e shall have jXlwef to apjXlim ilOl' "gem ,'r agellt. il may dewe fot Ihe pmp.).e of
<br />l'eJ!8ir'iltiYlid pl'eJlli~ #lid of renting the 'ame and collecting the ren",. fCl'enuc> ,,,,..I income, and il may pa, "ul vf said Ill.
<br />,;;_ all "JlCn.... of repaitU1ll ....d preaU>e. and neee~'ar} commissions aud upens.:. Illc..rr.d III renting an..! managillglhe
<br />~JU>d of rolleC'ting te.lllah IherefrQln; the halan.::e remaining. if an" to be applied toward the di;charge of said murlgage
<br />~!>eU,
<br />~ Tlwhe "'/lIlitep the illlprove~nt. now e""bng or he.eafler erecle..! on the lllortg"!:ed pl'Ol><II,. lll.ured as may be
<br />required h_ time to time by' lhe Mortgage" againS! 10" hy fire and ,)Ihef haurds, c,,,uallies and c'onlingend,,, in "Kh
<br />__'sal!d f<< .....hperlod.~ as may be required by lite l\{OrlBagee and will I'd, prom pI I; . wben dlle, any premium, 00 su.:h
<br />~ l'lovi>loti. fOt"jlI>Ylllent ,>fwhich ~not been made herelnbcf,>re, All in,,,rance shall n.: l""lIed ,n ,:,'mpanie> itP'
<br />"ro"C;d by theM~" and tlte policie. and rtne",als tltereQf shall be heid Oy the Mllltgagee anti have allil>:hcd Iherelo /(",
<br />jlIIyabk <:ll;~ ill flmll'ofa.04 it! fOfmlll;c"ptable 10 lheMorliag"", In "vent of io" Mortgagor w.lIgive imlItedi<lle notit. h,
<br />Itlllil.lo tIltM~. wllo lI'llty 'l\Jlke pl'oofof I"" if not matle promptly by MortS"!:"" and each inSUflllKe ':0011'"'" con
<br />~if,,,,b)'.~~!~<i and dincted ll'.....b paymenl f\Jl 'ud.lo" directly (0 the M"flwee in'lead of to the MOI'I!t'.g"1
<br />lIIIdlhl\M.~"jIJIlltly. andlhe in_line. "_ClOds. o. any parlllltreor. ma, be applied oy the Mortgagee at tt, ,'ption either
<br />1o~~Q(t.n..I>k<t~s$bcr"by~ed <l.tolhe te.toratJOll orrc.pa.",f the I'WIICrtydamillled, Inewnr "f fured,)
<br />W" . or ~~r l>l' tlt.le.~" llic lJl()ft8;>ged properly in eltittJlUl.hnrenl of the ,ndeblcdn." ,ecureo bc,rehy.
<br />all ' "'mtheMj)tt~ iTland h,any imuNlM'e pclieie.lhen in f"lce,hall pa" 10 lhe pt""h",er ,!I' gntntce,
<br />and .:oltakr.l =lIflll' for tile PUIllCIII of the note dC"llbed, ;llld all ,um_ '" b".:ome duc ull,kt thi,
<br />~,t1Itr MtiI~lwt11:b)' A$.~ I<> iheMorttWl"~ llll profit;, "evenue'. "';allie" right> an..! ocodlt, a<Cluing tu ,he
<br />~.~ &II)'.aruJ 1lll.1illilid _. ""."", "" 'laW pr""'.'"'' will> the rigb!.lo rc~'eiv< und re(.ipl h,. the s;lnle .,hl apl';'
<br />.~ 1.0 liW iDlkNl'itAU. ~. "'<:II be(QI'~'" atk' defw1tiu !n.:Cllnd11Wn' of thi, mmtgag<, all..! the MOrlll"11e,' may d~m31\..!, ","
<br />f<< _~...."'" illI}' ~ /lltyll1tl\t~ "'hell dutllll<f Jllly.l>ble,~t~ll ""t "" rcqull<d "'!" d"I, rill, "".gnme'H t, !.. <<'mm.";
<br />_ ~l!idl!ltKl v<>i4ull<Ill ~kjj,k "l IlIb m.m~,te
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<br />HUD -9114 ,iM (',t, r});
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