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<br />(1) n10nth prior to its due date the annual !11ortgage insurance prerniunl jn order to prevy"ide such holder
<br />with fund, Hl pay such premium to the Secreta!} of Housing and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder: or
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<br />(II) If and so long as said note of even date and this instntment are held by the Secletary of Housing and
<br />Urban Development, a monthly charge (in lieu of a fttortgage insurance premium} which shall be in an
<br />af!10unt equal to one,twelfth0/12) of one-half 0/2) per centum of the average outstanding balance
<br />due on the flotecomputed without taki!lg into account delinquencies or prepayments;
<br />(b) A sumcqual to the ground rents, if any, next due, plus the premiums that will next become due and payable on
<br />poHciesof .tire {lnd Nher haz:;rd insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged pmperty tan as estim,1red bv the Mortgag,'e} less aU SlllliS already paid therefor divided by the
<br />number ,)f months 10 befort~ one month pnor to the datcwhen such gmund rents, premiums, taxes and
<br />a:>se5snrents will OCC()[IlC such sums t(l b" held hy Mortgagee in trust to pay said ground ren ts, pre,
<br />tax'~s and speciaI as.<;essmtmts; and
<br />mentioned in the two subsections nf this paragraph and Rll pay.rnents tu be made under
<br />the no!t~ sei,ured hNeby shall be together, and the amount tl1enmf shall be paid by the Mortgagor
<br />Icadl month in J single payment to be applied by the hl the items 11l the order set forth:
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<br />(I)
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<br />premium charges under the ,:mltract ofins!!!'a)",:,: With Ihe Secretary of Housing aho U.b,Hl Dewlopmt'n!,
<br />-o}"-roonthly ~harge {in lieu inSlUYlfu'(} /:werniurrt). as. t.he case rnay! be:
<br />ground H~nts. taxe-S, asscsstnents, and othe,r h;u',ard jns.ur,U1Ct~ prej)'1hnns;
<br />uHere:;;t on th1G~ 1HHe settHcd hcr(~by~ and
<br />amonila two oj the prirlClpaJ of said f!(l!e"
<br />in the illlhlU!Jl Ill' ,if)\' such ;lggregale 11101Hhi\f payrnen I shall. unless l1l:lde guml hy the Mort'
<br />prio-r to the dtH~ dale of 'th~~ next su~~h r\;.typ1C'H~ '.~'t.n~tituh~' an t~vent of dcf\lldt under this rnortgage. "I11C
<br />rnay ~;oik~,:t a "'hae :,:,h~ngc~' nCH h~ (~X~~Ct;d ">.~'nts (4\l') for CUdl doHar ($1) of c~Jch payrnc'nt rnoft!
<br />I ;; I 11'\ "rre;u, to ,.:over tilt' ('x!fa t'Xp~l1S<: tnvnlved If\ hand.ling ddi!lquent payments,
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<br />(IJ)
<br />(HI}
<br />\IV,!
<br />Any
<br />gager
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<br />than
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<br />.~ rhtlt Mf thp hHaJ nl th,f" paynH,orlt,"" m:Hh~ h!' thf' \lofLl!a~10r Undi}f r t)f paragraph 2 prfl.('t.\d~n~ shall ()-xc.f~.(~d
<br />tht> lUllllUll1 of pa~'l!l"nt,;. anllally l7!lltk' h~ lh.. \IOrlgai!l'" f"r "mund rl'llb, laXl'" and a"""'SSml'n!B or in,,-urancl' pr('-
<br />millfl!""', ~t,- tlw net",," m<l\ !w, 'iuch <'1\cn';'"""lf 111(: illiln I" <,.urrClH, ;J( Ih<: OpIIOf1 01 111(, Mortgagor, shaH he credited by
<br />till' \lorlf.!U.lIl'1' ull~uh"f'(JtI..nt paym('lll,. tn Ill' llWlh. h; IiI", \1..rtg;II!Or. fir n,fmlllpd to l.hl' \longagllr If. howevPr, tlH'
<br />'''Hl1tlll\ flll\mi'lll1' madt, 1)\ lht, \lort.gag<J( under' "I panll!raph pH.'C('dHlg shaH not h,. suf!i"lcm tn pay ground
<br />rt'llt, I;IXt.~ ,UlU ;.l-"''i'''--Illl'lll,- of m"urat\('" prt'mIUfll. ,L" lilt' '"l.~l' mal bO', "hpll Ilw ,.,am,'..hall I)('comp due !lnd pay'
<br />"hi.. thl'll tlw \l"rli~I\t!IIr-haH P:lI '" 11ll' \I"ngal!p" :.IIH ;lmmmt I!l'C",,~ar~ III mal((' lip 111,. delle/pnel. nil or l)pfor!'
<br />11ll' dlill' '"lwn pa\nwr1l..1 '\1('11 r:rmmd n'!1l'" , Ln'''-. :b"'-"'I1Wn;~ "r HI-.ur:mu' prt'rl!illm~ "hall h., dLl!' If al any
<br />11ll1., In., \\OI1l.Plj(Hf ,11:.11 lPnON 10 Ih" '1,.rIC';I!!"", 111 :H'c,mialH'" II I [II 1,Ill" prol 1-IOIl~ o( lilt' 110((' ",,'('urpd lwmb\,
<br />fullllll\llwnl <llf lh., pIllH'" m\l,'blpdi1""' H'IH'i'-"IllPd !ll"",'lJ\, ih.. \long:I!,!"" ."h..11 ill ("ompulin!,! Ih.. amount of ~u(;h
<br />ll",idl!("inl'''''''. n(x\!ll ;0 till ,',"COUll! d lfw \lorl,itaj(of :d! p:H mcnls m.ltk umkr iht: !lfOII"'lOl1S 01 { of p.1WgHlph 2
<br />111"1""'( "hll'h \111' \l<l>tli~a~"... h"" no! iW'"I.ltW ohlil!ali'd (n !'''I ,n llw ,..("n.tary olllllU~llIg :md I rban Lk,.eloPIl1<:UI
<br />:uld :UH hallllw" n'I~H<ll!IIIil! HI Hit" fumf-:H("IHtHllat."lluHI", 1111' pnl\I"I"lI-..f 'of li:Jnll!l1lph :! 111'1'''''>1'. If tht'l'l'
<br />shaH b..;1 dd"auil llnd"1 ,lIn ..I' tIll' pn'\l~lHiIl~ o! Hi!' mllr!,~:IC." f<'~illilnl! 1Il.1 11111..11<' '>,Ii.. (II tlw pn'mi~.,~ l'",'..rpd
<br />tH"n'h~., lH If !JIlt' \l"ncil~"" :InjlJlrt.~ lilt, f'nlfJt'nl nth"r'''I-'' ..It.'r d,'hmlt, lilt, \long.Il!"" -hall appl~" ;it thl' tillW (If
<br />lh.(' CHmn1t~fH'pmt~~U uf "'lj('h prn(,(~,'d~f'lZ:,"', nt :d !h~~ l1tn.> ih.p fH'!-'PPH\ \"" utl'H~r",~....~' .U'1.tlHU.d. IfH' I~aianv~' th..n rf'main'
<br />Ifht tn ttlP hUl(b.: ;H jl-!Hnui':H~,~d Undtff ni p.uaut;tph .: 11f't'Vf;,tiHH~. .L"" ,t ~'n.dj" ~t..t1)nn:"":1 lil", Amuunl uf pnu1.'ipai fht,U
<br />rPIn-l~iHHn~: unp.1f~i UJ'Hh"r "'o~Hd _ttti.1 .,.hall prHpt'fi~ ,n!fH-t JH\ t~.\"m.'Ht... \..hi( h ...:haH ha'U:. I,H'i,'h m:Hh, untit)f (Ii:
<br />,.1 p;,r~il.rrllpl1
<br />.... rh,~~t Hw \1,W!~"-l,e:.\q \",..t' \ "+.!'Hr :11., .1- ,tft:1 r tdt'~, ,:lId \qhc': ~u\,t:r nHit:nial ~H In UT1I..:tpal
<br />!In..,:,,+, df 1000p't~.."dhl.'t"" fhlt fH.:tt'Hl'ht..'fnrt .'wd \n d>:l ,u~l: lhe:retd the \1i.)n~~,-tg~i': nl:1)
<br />p~f~ '\.,HHr.: < ;dlt;J Hit':, l1\t' \.1th,,'Ld 11..'1..-(tpi... !h-erej~tr I!" th~~
<br />h!t.~ \r~I~)ng~,~t'~lf ;"h;,"j.,f Up~,fl ~hc \h-'ngj~gt:1;~''''' \nh.:::t'"t !e;11 e"'i~llt: ;~nd t:HfHznc,.
<br />nltnH~o ;,HhJ v.)u..;h l'X' \,~t'P! ''1r.;\,'{Jit,d ht'a:b\ Ibul. \\nh, (.,'1 ih\~ l~\(~:llj ih~H "l.h:h I"" nilt pr1)hjDll~
<br />l;.:~1,1 h~ L-iii;.\, ;lIh,;i t"o;\- <,.'\'k'!H r,hd\ n;,t....t/ ii'l,,,, 1;'1;0'j U\l1Jh,\U~1 hut ("\!",'luJlt1g: dH'y i1h~tl/l!t," L_IX. ,(.';:~tft.: pf re,deraL
<br />HHPO"'t."-J ,,\1'1 v, nh:: {h'l.~ ,.>lhdj,~; f~:.....e}p:: ...hu...\ing.....tii..'h Pd\-HH'oi v.llh tfh;;' \ll)rtgdgt;t:' p~;n \tu;;__tt.i~ll"l \d' _du"l under~
<br />fd_kfUt;. ~H' It' fht. 1'. r'hJt'~i~"lik'4j t~! ;~:t,^ fl('~ ~)Z rH.'!c.dtt':r /t\hhng fn'HI trIg 1ht; '~I,;hL)k ~If pt~rtHH'1 (If tht~ {lf~H\.~'
<br />",..lh.l t~l^t'~< \,\f Up",lU il,'lh.i{'nng dny ~"\)Hn d't.:...:h'C {he m~nl. h\ tI'w or Kin)" l;1\{;'~. ,'::1" ~f \u,,-~h la~
<br />dc.cree prl,.'1~h,le~ 1h;~! ~:l!'i\. ..tHhfiJIH ">U fi4UJ t'\'~ \h"nga~~H ~..rt:"dllcJ 'un the in-~)t "h::bt, the- :.,nl-t!l ba\'('
<br />th<~ nght h) mnch ll~n" '1~rlth:n noti\.'c H1C i~v.nt'r the lhf.~ pa}rn-cnt the mortgage
<br />debL If n<Hl\.~c bt: the ""hi dehl ,h,lI: b",,,me Jue. thl~Jbj" .,llhe C\plfalWll \,f ,;;,,11 ninel} (bv,
<br />tk Thill \h~iU~d hlL~ r('1 p~~~ :.my ~um ()f' :~ny pr\>'>. nJed f(lf H1 I~H"; j lhen tht' t1), op-
<br />Hon. 111a.~' pa~" lJlr 1.0<: S~im(', ;Hid- aB ',.J rn,;':,Hlc :\h~tg he <.:idJeJ h) the ~um (),;A'Hlg on ;,J-",(t\'~..' ihJ{t~"
<br />Sh~lH he ~t~un~J dud ,htJ:H beat mteft",~t ,H th(~ Lite se'~ in rhe ~4h.i note, unl{1 paid
<br />Trut( he ::1;'t:\tgn:\, tran~fe'i's.. 2il'H:l ~t.'b ,\i(Jrt~.!,gt:'e, ~jpphed tu\\> .-:frO the of I he lhJr~ ~tnd an
<br />~urns secured here'b) ...:a1\~~ of ;;>t defauh in the the t\Jfm~ dnJ ('~>nd.if.j{)n'i ~.hlngjjg~ ~_H {ht: ~d.iJ
<br />note. all tht r~~nts, rev~nuet\ and !n~~)rne l.\'} t.X' pr~mj~c:-. during ~;"\ch tUJlt: ~J," the Indcr:Hcd,
<br />ne~~~ shall rem'41'n unpaid: nnd l.ht~ .dg'~n~ agiCHt~ il Ht41,- dc~irt~ flH purpl,):-'t' ~'~t
<br />~aid and of renring lfH; rents. r{;."\en.ue~ ~tnd \n~\.Hnl;. rind it rrl,ay pitt} ~JU\ lJf ~afd in"
<br />~~nd nC't.'t:ss.~j_ry \~nrn,mi!j,~it.,n0 and e,>\i)ensc~ ii'1~ur:rt1J in r~~Hting mr.tn~jgtng the
<br />('oHe~ting_ rentals th~ h~;,:an(e n::rnaanng. if an:)- ~ h,l be nppt~i~J t{)w~trd the dbt:-hargt:: p("
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