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<br />83-\IU 3433
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<br />I[ I J month prior to its due date the annual mortgage insuraJ1<:e premium m order 10 pro~-ide such holder
<br />'I.lith funds to pay such premium to the SecretaJ""- of Housing and Lrban Development pursuant lO the
<br />National Housing Act, ;"s amended. and applicable Regulations thereunder: or
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<br />(II) If an\! so long as said note of even date a.'1d th.is L'1strument are held by the Secretary of Housing and
<br />Urban Development. a monthly charge (in lieu of a mortgage insurance premium) ",hich shali be in an
<br />am01;l1!t equal to one-twe'lfth (l !l2) of (me-half (J I'?) per centum of the average outstanding balance
<br />due on tlH~ note computed without laking into account delinquencies or prepayments:
<br />{o} 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 other hazard insurance covering the mortgaged property. plus taxes and assessments next due
<br />on .the ntortgaged property (all as estim<1ted by the Mortgagee) less all sums already paid thereFor divided by the
<br />number (lIf mOnlhs to elapse before ()ne month prior to the dale when such ground rents. premiums, taxes and
<br />aSse5Sm,ents will beCOflle delinquent, sHch sums to be hdd by Mortgagee in trust to pay said ground rents. pre-
<br />miums,taxes and special assessrnents: and
<br />te) A!1pitYlTl,~nts mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured he:reby shall be added together .and the aggregate amount thereof sllal.l be paid by the Mortgagor
<br />eachmol'lth in a single paymem to be applied by th{~ Mortgagee tUlhe following ilems in the order set forth:
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<br />(1) premium charges uoder the contract. of insurance with the Secretary of Housing and Urban t).;:veIOpmNlt,
<br />or monthly charge (i1'llil>tlolrnonga,ge irmmmce pf'I.'miumJ. as the case may be;
<br />rH) grmmd fen 1$. taxes. .a\!>sessmcnts. tire and other hazard msurance pn,miums;
<br />(HI) interest on the nOle secured hereby; and
<br />!IV) ammtiilltion of the princr.paJ o1's"ld !lole,
<br />Anydefidency Tn tfle lU1'Hlllnt of :my sllch aggregate llwlUhly payment shall,. .IJliles,<; rm,dc good by the />llyn,
<br />gagof prior {f'lhe dut d:ue of the next sllch paymen I, COHstitute an (:vent of deL1ult under this mortgage, The
<br />Mortgagee may G{)JJect;1 "!trtt char.g~" nO! 10 \~xceed fnm cents (4i1) Ii,>! each dollar ($1) <Jfcm;h paymellll11()re
<br />thl1.ll11fle<!ll (15) days In arrears to ,)'lVer tJu~ extra <'xp",~nse invnJved in haru:l.ling d.elinquent paymems,
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<br />~), That i f du~ t.ota1 of UH:\' P~"'y"u)nl-~ ma,df,~ b}: t.hr' .\tortga.g("tf' l.HlCk~r (k) of para.graph :t p'rt}c(~ding .shall (;):xceed
<br />th(~ i!lInount of paymenti' llctllally made hy tho MOrlf~lti!:(W fllr J;mHlnd rpn!...,;. taX(lS and aSsNiSltlCll!Sor immranee pre-
<br />miums. a.s .he t'll.~,e mlW bi;i, 8UI1:I (~);'~ess" Ii lhe loan IS Cllrr~,m. at the option of the Mortgagor. shall Ix: credited b)
<br />tbt' \I(ltl;gagee (In ",ul)!'E;q:t.l(~ntpll;YlnentH 1.0 be mild!' by Ill!' Vh.,tgag{)r" or mfundE~d to the Mortgagor.. If, however, the
<br />monthly pllYlllt'nts rna&~ hy the Mortgagor under n,,; of paragraph 2 preceding shall f1<lt bt: sufficiclH to pay ground
<br />rent, 1.:11(('" and !l..jlc"e""nw.llt!:' or insUrMC(' pr('mlum"., ;j.-< tilt' C:l."l" may 1)('. \\hl'll t1H~ "llmf~ "hall heeonw due and pay'
<br />able. tJU!ll thE' \lIortgugol' "hall plly to dll'!\lortl2:,tA!>I' am limourn rHH'p,.."ary io nmlw up ilw <!tlfi(:j(,ncy, 011 or IH~for(~
<br />the dlltE~ ",11(,1'1 paymoot of "\leb j!,:mund 11!1l\.,S. tax(!,;, a""'''i-'Sments or inSIJfant'.' premiums "hall tw. du!!" If at any
<br />time lJfu:+ \1ol't~aj~r ",hall t('1Ider hI dle \l(lrtl2:lI~"l!{>. in lU'j'nroance with HI(' pmvi,.ion::< ,)f dw Iwle ,';j'i('ur"d 11.,reby,
<br />full plt~'melll of ,(,tIE' entin! mdebtl.'<!rw",; n'llfl'".'nlt.d tlwl'I'by. the Mm'tF!ag\'j' ~;ltall. ill computing lXII' amount of sudl
<br />indebtednel'''',llrcdll to the ac,;:ulIrlI "f the Mongagor .lIt p,lymC::'lHS made ',!litleI' tht, pl'Ovlsmns of (,;) of paraf,>l'aph 2
<br />hereof whi\"h uw 1~lo.rtl!:lIl!:",t, nll..'j lIot h{'nHll~' ..bligah.d I.n pay 10 t.tl,~ :--N"l'l'hu'y I't' H<)lISin~ and Urban Dcv'ck1pmerll
<br />Md allY' Dahllu'j! r"lHllil'lilll:! III Ifl{' fund", lit'I'UIlIUIll.wd UIlON th<- pml!..-'on" of (/;) '.if panij!mph 2 h.'rl,'uL If there
<br />",hall he II d~,fault unlit'[ allY of ttw PW\',.,Wll'lllt' Uti", I1IUl'l~a~E' n....ultillJ;! ill a puhlic ,..;ai,. of the prl'l!w'lli-< (.oy..n.d
<br />hCft'O)" or if tho Mortg.~jtt~(. lleqllln'", dw 1}I'.,p"rlv "Ih,'rwi,..;.. aft"." d"fault. till.' '>l"rtp:aw.'" ",hall .IPIIly, at. uw tim,' of
<br />the ('omm.'nC('IIlI'fl1 of such pmt'twdil'lj/;,"'. "" ,l.t (.I'll' 111!H' ilw fJl'lIfll'rty "~, l>ihNWj"" acqUlf!'(1, I.he ha.lalll'l' then n>main'
<br />IIIIl: In l,he fund", i!1'l'llrllulawd UIIl:lN / !,] Hf flill'ligraph ;,: fH,,'\",dm~. ,(~ Ii cn'dil ~lgjjin,'1. iJw :UllHUnl of prindpal ihen
<br />relllaining 1l1l1)IUd under ,.ald 11IIU.'. alld~hll.1l prup,.dy :In\ p;nllH'Il(,; "'~udl ",hall ha-.' Iw.m 1l1.Hh. under (,,)
<br /><) f p<ir:af/:l'lll,h 2,
<br />4, .Yhal Ille ~,lo!'tl!:"l!:m "'Ill H~1ih, IHt". J."<'"ml:iih. ''''leI' I"k,',. ::nd oliler IHI\<:nHl1t'lUal or !!lllm.;ipal
<br /><tIMlIn. ljnll~, <)f ,lflIll1<\),ill'('Il', fN '" Ph.'''I'I<lIl h,,, IHI! ht'el! m...\,k hef<',ohd'"lc. :..no 11\ ,kLwll thcn:\>t [he Morlgdgt:~ m~y
<br />Pity the "..mt'. ,.rnJ Ihal lhe !\1l'Hgagm "'Ill <kh, cr Ill.: ...!!lc!..1 Iherd"l to I he
<br />), The M,m~:al~(){ "ill "ill,I''::' lJ1,,*} be !e\ll:,d UP,HI tht' lIilere,1 ill le,,1 c,tatre and impr(IV".
<br />mcn.h. ;mll "lud1 rn~y be I.", UPC'{llhl~ or the ,Jehl 'cCUI~J third)\; ooly '0 ihe extent thar such I' flt.t pTIlhihll-
<br />ed by I,,,,,, ,lOci mlly to Ihe e~lclH thai <"Udl .wt make tillS lpllfl .hllll\ills.. hut ..,<:Imllllg ony I1lc"me 1,1\. Slale or Feder"l"
<br />implfsed ()n !\:t1Jng,,~:ee. ,md wdl file Ihe ,,!ll\.:li;! rt'';<:lpl s!;(lwmg ,u.;11 L'piHl \dolatlO!1 of Ihi., under-
<br />laking. or Ii the M.lrtgagor I' prohib'lleu b~ 1:11" nn" or hcrt;aller e wbole ill portion ~.( the i.ron~-
<br />said taM::" M upon the leodemlj! ,,[ any (:<.un prolublling lhe iw lhe nl any taxe", "I If su..:!! law
<br />\}rde.::l'<:'e pftJVtUe1( that allY aloount ~lf p:ud by the Mortgagor ,haH acdll.ed on II!.: IIwrlgage debt. the Mort.gagl'c ,hall have
<br />the rlgll! II! gIVe ninety day,' wrmen lltl!i1,;C ILl lhc u....ner of the reql.liringlhe paym.:nt of Ihe mortgage
<br />deaL If su..;h notice It>e g)v'l:'.Il" tbe""id debl ,llaHbeGome due. PllY;lble <lllhe ':XPlfiltj'JIl \)1' said ninety days,
<br />6. Thill should he fail to pay :i.JiY511!ll m keep dnJ ':O',ct:fl"'l\l hlf in this lhen the .Moflg;1gce. at its "p.
<br />lIOn, may !lily <lI perform the ami all <::~penditu(e:, so made I.Olhc 1iUI'!1UWillg on .he al:HlIie nore.
<br />sbllJl be >.c..;ured bel t'oy , and imCl'eSl tl! the rate sel forth in nme. paid.
<br />e Th::>l he, lranslers imd ,el> ,IV<:[ t<lthe Murtgagee, In be llpphed toward the paJ'menl".1 tbe IWle and all
<br />J;:l.lms befl~by if def",l.ll't m the (,I' an) of the terms and ,;;Hlditions of thi, ;I.{nrtgage or Ihe SlIlo.1
<br />note. all re~'entles income hI be fWIll l.he premises during sw:;h time Wi the indebted-
<br />the shall hitVe !l,\ any"gefllor It may desi.re for pUl'po.se 0.1
<br />same and the rellts. revenues and and il fnay oul of said
<br />and incurred
<br />be t'iwal'dih~:
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<br />W)!1
<br />when JUl:,
<br />"hal! he aI"
<br />and 'have a;uacht':d loss
<br />irnTn~~di,;:H{~ n(~-tj~:'e by
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