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<br />83-ol,34017
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<br />(!) month prior to its due date the annual mortgage insurance premium in order t,) 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 />(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 (J /12) of one-half Oj2) per centum of the average outstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments:
<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 />polkies of fire. and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (all as estimated b.t! the Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one month poor to the date when such ground rents, premiums, taxes and
<br />assessments will become delinquent. such sums to be held by M.ortgagee in rrust 10 pay said ground rents, pre-
<br />miumS. taxes and special assessments: and
<br />(e) All payments mentioned in the two preceding subsections of this paragraph and aU payments to be made under
<br />the note secured hereby shall be added wgether. and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by t.he Mortgagee to the following items in t.he order set forth;
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<br />(I) premium cha.rges under the contract of insurance with the Secret.alY of Housing and Urban Development,
<br />or monthly clJarge(in lieu o(mortgage insurance prerniwn}, as the case may be~
<br />(II) ground rents. taxes, assessments, lire and other hazard inSUrance premiums;
<br />Oll) interest on the note secured hembv: and
<br />(IV) amurtizalion of l.he of said note.
<br />Any deficiency in the <lmount any sllch aggregate rnontl1lv payment shal!, unless made gl}od by the Mort'
<br />gagor pnor to the due date of the HeXI ~uch paynW'i1 c,,"stil.Ule an evcm <.>1 defauh under this mOr!gag'~. The
<br />Mortgagee may coHee! a '"late charge" !lot to cx<'edIoH'r cents 14;r) for each dollar ($1) of each payment more
<br />than fifteen <.. i 5) cl~~YS.lP arrears to ~over the cxtta eXjH::nse ~nvoived in handling delinquent payrnenrs.
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<br />:t. 'That if th\' IOtal of 111(' pavmellls mlH!p by ihl' \lnrtgagol' under (I,) (If par:lf!"r:lplJ ~ prpceding ;-:ha!l pxcHed
<br />th(~ amount of paym\~nls artually mad., hy l,lw \lort;.;;agl'{, for i!rtlUnd rents. tax!.',; and ;a";-:l',;smenls Of iO;-:llfl1nee pre.
<br />miums, a.S the ell"'" may b.,. such exccss, if th(~ loan IS ~'lJrrent, ar the optIOn of the Mortgagor, shall be credited b)
<br />Ih!' 'Iorlg-age!> on sub.sequent payment." to Iw ma!h.' lrv the \lonp:agor, or rpfunded to the \lol'lgllgor. If. howpver. the
<br />monthl y payment;;: made lw the \Iortgagof uncl(:r',.i of paragraph ,: preceding shall not be sufficient to pay ground
<br />r('nt, lIiX!!;; [lnG as"':'S:'!1Wllt:" or ll1>:'unUH'(' pH'millflls. a.s tilt' ca..,t' mat 1>".\\hpl1 the same ~hall. bpcome dll(~ and pay-
<br />ahle. thl'f! till' \!Oftg:Ugor ,'halt pay lO tll!' \lnrtgaW'I' ant ;.i1110lHH jW!:f's~ary to makl' up thl' d!,fjeiency, Oil or befom
<br />thp dat~; whpl1 paympnl nf such ground fpnh, :a.\(''', '\'S"I'.';.S[ll!'nh or tn,..umnel' prpmium,. shall hI' dtH~. If at any
<br />llmt' lht~ \l()rtg:~or "!Htll 1(~IHler to the \ltml.l;ilIR''', ill ilcl'ordan{'(' \dtll t1w prOI i sions of Ill!' not(, "'''e!ll'Od hf'reby.
<br />fu!! pa\"ml'Ot of thE' !'nuTI' md..bh"drw.,.... o"pr<'''''III(>(J tlH'rdn.. Ih.. \lorq!agl'l' "hall in (''Imputing lhl.' amoullt of ,.;uch
<br />mdcl)(ednt:s~,. crecit[ to the:' 'Kcoum of the Mortgagor .111 pi\\mCfllS made under me prmlSlons of !a) of pmagraph 2
<br />ht'reof whkh till' \Iortgaj?;e.' na" not h.'nm1l' obligatNJ (0 pa\' hI th",>!.!'!'''t:lr)' of f1ou.;il1g ,md l"rban Ikvclopment
<br />and ;III) hal:ml'l' !"pmaining in tn.. fund,.. alTIHlmlated lllHh'r llw pruvi,'ions of i i of paral!raph "hereof. If t!H;'l"f,'
<br />,.;II,11l bl' a dt"fault under an\' lil(' pm V! "lOn.~ of Ih i ~ mllrtl!Ul!P l'<,....ull In!! I n a puhllC -ak of the prpmi St'" {'oINed
<br />hl'H,I..,., '.Ir if Uw .\lortgagl'" ;\{,<{llIl'l'S Ihe PfO!WflS o[lwr" i..." ahN lll'fauil.. tlw \longagl'l' "hall llppl) , ,It tlw timl' of
<br />thl" ellmm"IWl'nW!1I. "f ,'\leo pro{'('l'(jini!", ur :11 lilt' Urnl' Ihl' proP"J'l1 "ltWfwi"" .H'tjuin'd, llw ba!a,nrl' HlPf! rf'mail1'
<br />in//, in thl" funds anumui'HI'd undH f ..>1 paragraph flH'cl'ding.. ,h :, nnli! :Iuail1"! lhl' amount of pnl!<'lpa! liH'n
<br />rtmHllnll1/1, \lllp.lld undN ",MtI Iwt", and "h"il pmpt'rh ,,{lju~1 '.m\ l",l\m...ni" I,hi..h "hall hlt\!. bpI'1! mad!' I!JIlIN (
<br />or pllragmph :!..
<br />~ That fht,~ \1ongagt.H pl,IHlh; r':flt', L,ne"-, ;ry...t.'\'~mt:!H"," \\'.ilt"1 r:dt;'.. ;U'hl tither j..;_o\'er!lm(~fHal or muot(:ipal
<br />(h,irge~, 1'~nes. \If h;~, Ill11, he~:n nl::H.,h:' hc!"t.'Hlhefpfc" ~H1d H1 d~L-lUlt th~rt."of the ;\h)f'lgagee may"
<br />pttY the 'am~; HThj \\ pt'\lmp!J'l tkl1\,t'! ri}l~ l)lfi{.'};;11 rhl"'fc{()r 1n the
<br />~ The ~;I_XC',' \Vhh.:h milY h~ k'd\:,t1 upon !he \ Hll(~l'e""t In r{"~d t'~t;th: and improve-
<br />rnent~. .:~ml.i In;.1~ be k\h..'d 'l.hf~ nh,.ng~1gt' t'lf the- deht "'t;\"Ufl'tl ht~tcby if,) rht~ c\h.~fH th~,!t ".Ui.:n. J\ nul. protHbjt~
<br />eJ by f:j\\ ,u}d ()nl~ !(t the t:\tel'H ~u(h \\,t!J ndl make Ihi~ u~urjou"'l, hut HHX~fn{; L'll:" Sta~t" or f~ederHL
<br />jn1rh)~cd (In JnJ ).I, it! tde ~hc ntfl(Ndi [t;,\.,'\:lpi ~h~,wm,~ '\ut.::h \vl!h (he . t pun ",ivJiiIHJn \)f thi~ ..Hh.h:r~
<br />raKIng" '-tt if ttH~ i\ ~\ b\~ IhiiA' elf hereafter frlJIH ~'h()k l>r ;:'g,:~nHHl of (he afort.'~
<br />said trt!\~s~ ~\r upon \.F ~tny (:ut~rt mC~it b:~, the t<txe'i. if ~lh.'h law
<br />,)1" de\.:,ft~t~ Pl'\'~\lde~ tha{ <:in} (iiHount ~..,;. paid h\ ~H,:di~cJ ~)fi lhe shan have
<br />tht~- {~,\ gIve ntnet;f dd'~':"J' '\~rittcn n'~Jti('c' lht~ ..IVdl,('! rht,~ the frHH'tgl1ge
<br />debt.. sU\.c:h notke be lOC said debt shaH bet;.:o:mc (lUI..~. p(.iy.abk' at the eXpirhtlOn said njnei~ d:;'Y"L
<br />h. That ~hou.ld he h,'i pd.::" an! .li,um ~)f d,ny 'co\,-en<i;trl,t prfnddcu fl.H lH thiS lh(~n t.he
<br />hon. tuay payor the SdJne ~ and a,H S~', rg;;~dil? :-;,huH oe added h) the sum 0"'" tng on
<br />siudi be St~cured ~ and shaH t"}(~U jrHt~rc.'H, at the r;.!.te s;;.'( forth in the ~4did no'te. paid
<br />;" That n(\, ~ss~gns, Hans{~r~ anti sets p\>('r io the \fort,gagt;~e. lo he -apphed ie.ward the
<br />sum,s se~ured he r-eb'" ~'~,~e' of :it default the of ,fiD'\-' the tefm~ unG c4)ndiiion\
<br />n,Jte. ~~H rbe' ren:ts, r~'Vt:'i1:ue:s, ,lOci j'I1C(HTIC [he ~ prcrni~~e~ i-.i-u.ring ~u~h t;.mc a~
<br />ne~.s re:,nl-~tin unp;lj,-d; iH"HJ: the ~igenf desire for
<br />said pre"nise', and {I! renting i!
<br />of iTtl.:,UHCd Hl
<br />c:nne.ctinE: d l(;r~;ard th,e
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