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<br />83- 003457
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<br />('1) trronth p'flor t{) its due date the annual mortgage insurance prenl!Um in order to provide such hr~lder
<br />with funds to pay such premIUm to the Secretary of Housing and l:rban Development pursuanT [() the
<br />Nlltional Housing Act, as amended, and applicable Regulations thereunder: or
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<br />(n) If and so long as said note of even date and this instrument an~ held by the Secretary of j-J"llsing and
<br />Urban Develvpment, a monthly charge (ill lieu of a mortgage insurance premium) which shall be in an
<br />aJl10Uflt equal hJ one,tweHth 0 !l2l of om~-half (Ii2) per centllm of the average outstanding baJan<:e
<br />due em the nOle computed without taking into account delinquencies or prepayments:
<br />(0) A sum equal 10 the ground rents, if allY, next due, plus the premiums that win next become due and payable on
<br />poUcics of fire ana other ha7card insurance covering the mortgaged property. plus {IlXeS and "\ssessments nex t due
<br />on the mortgaged prop<lrly (aUasewimated by/he .Mortgagee) less all sums aJready paid lherefor divided by the
<br />tHHnoel (if Hl()tHhs to elapse before' one HKHHh prtn[ tG the date when such ground renrs, prenlimns. taxes and
<br />3s11essmel'lts will he come delinquent. such sums to be held by Mortgagee In trust to pay said ground fen ts, pre..
<br />miums, tllxes and sped.ll ass\~ssments, and
<br />(d All paynients mentioned in the, two precf,ding subsections of tilt;; paragurph and aJl payment~.io be made ulldn
<br />the note secured shan be add(~d together, :md the ilmount thereor sh;rll be paid by the Mortgagor
<br />each month hI il pilyment to be applied by 110(' to the fnllowioi! items in the order set forth:
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<br />(0 premium (;h;lrg.(~S under lhe (,011 t l<\{:! of insuntlH:e Wllh the Secretary "I' Housinp and Urban Development,
<br />ormonlhly dHlfg\~iin lieu ,'lmortgage iruumll(,(, {'remnHll), as the case may Ill!:
<br />(II) grolJ:nd rems, taxes. "ss,:ssmenl'C (ire and other IHltard insurance Premium:;:
<br />II 11) inler\~st 1m ,hI"' note secured hereby, and
<br />(IV) ,m\(lrtilalloP nl {he prinCIpal (If said l1ote.
<br />Any defi,:l.~ncv in the ammml of anv such ~lll!r(:l!ate nll.Hltldy payment shall. unkss fllade good hy the Mon,
<br />,gagor prior to'the due d~itc of the n(~Xl slH:~h l';~;~:'r~;el'l;., l,.'ClhlHUte an c\'c-nt i'lf deLrolt under Ihis rnortgag{~. 'The
<br />!vlorlgage!I' ilnay ,;()!le,,! .1 "la{l~ c:ha.rgc" ,WI ~x.:ee\l":nts 14\0101 ,'aeh dollar (SI 'I of each p:1YlnellI more
<br />th,m t1flecn (l;\) ,1:lVS in ,anears 10 (,,\IN the (':>::\):, ,:xpen~e Involved ill handling. delmquent paymems,
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<br />;\, Thai if the tOllll of tll.. pa\,ll1f'nL. mad.. h~ 111(' \lmtgagor Imdl'l i of pafagraph :! f)!'('('l'ding ~ha!l ('x('I'ed
<br />thl' ll./Tlounr of !,aYIl114'l1tl" <!t'l.uaJl:; m:ld~' hy ttw \loft~:al!N' rnf l'mU!HI r{'\lts, ta:V'ii and a,;."'.."."snltmt" or In,;urann' pm-
<br />mium;.;, a", tAw elL,,!, ma.) Ill', .--Hel1 ('xces'!>, If dw k~m IS Cllrrem, ,it the opllon of the Mortgagor, shaH be ncdiled by
<br />Ihl' \lort~!a.g;'1' 1m ';U(bPql.H'l1f: !iaympm" to Ill' madl' !'V till' \lor-lt!lIg.lf. III r"funded to ih.. \lort!!agof II', IHlwP\,N. 1.lH'
<br />monthly pay'mf'nu, made bv lht. M()rt~il!?,or Imder !!' i of pren:dlng shajJ I10! he sufficient to pay ground
<br />r(>111. taxe." and al"."','ssml'nt" Of m~uralln' prl'ml!lm~, ;1." tlw ('<I"," I1la\ \11'. Ilnl'n the "amI.' "halllmcoml: due and nflV-
<br />ablt" tlwn Ill(' \loft!S<l.l!'o!' "hall pay 10 tIll' \lol'lIWIH'" 'II1\' ;onOlIl\I ;II.'I'(''''"ar\ {II matH' \Ill thl' dPfj('WIICY, i>n Or hpl',~n:
<br />thl' d:lI\' whl'll P:\)fi~P!1lI,f :-'lId, g:!nuDlI H'nts. LIV"~, ""''''I',,SI1\('01I'' "I'. l,wurann' pr<'mlllm." shall bl' du('. lr at allY
<br />time tht, \\ortl,!lt!lOf ",ni.lll ",,,<iN W till.' \lortgilgl'", ill ;u'I'nrdanCt' \Iith till! fH'!I\hil.n" of lhp nOle "'''{'lIn~d l\Un~by,
<br />fu!lIJll1imWl1 nf till' l'ntJI't' md{'btl'dm''''.~ n'prp,..pnl"d tlWf"h\, tll\' \IOllgal!p"',,hal L HI COl!!flllll!\!! till' amount of sUf!l
<br />mdeblc...mc'is, cr("{li! to lh(' an'uI.tn! <lllhc Mortgagor ,Ill p,l\1l1N!lS Il1ad<' limier Ihl,' plun..lOns of I,d of paragl'aph 2
<br />I,,;roo{ whit'h tilt, \llOfll:<tiiWI' ha" nol lw"om;' "hi ill'lI!'<l II) pal III II", :'>pnl'larv of I1uu"ing 'llId I'rhan DC'Hdopment
<br />and :111\ bllhmn' r"lllaillltll,: in Ill<' futld~ aCCUtl111!:H,..d IIIHlt'l l!lt' pro\l"llm.~ of I' / of paragraph:.! Iwn-oL If tlH'fl'
<br />"hall be a Gt.fault Illntlt'l :ml or Ih..' p...n I "1"11"' .d lhl~ morlgill!." [I....ult i II!!. III ;t puhllC "all' "r the pn'mi"t''' 1'1l\l'fNI
<br />ht'I".by, or If llw \~Iillgaj~t.,., antUlt'." lilt' prup'''tj Od)('ll'>i"'''' ,,1'1"1 d"Lmlt, tlH' \llIftg,.t#I'" "hilll apph. :l!. thl' tiflll' of
<br />Ill" "lInlflll'HI'('lllt'lll ,,{ ~uldl jlIHn".'dill/.:", ,>1' ;1\ lh.' tHII" till' pro/II-HI !~ oIIH'r"""" ;tnltw"d. il1\' l.ndwH'" dll'n r!'main'
<br />m/l. in tAli' lUlni" :u'{'ulUulal...lllIHlt,1' .ll p'Hili/laph " pn,,,,,tl,ng, ;1" ;; n"till a,!aln~t ifti' aml,mil of pnncipal tht.o
<br />remawlll.l? tmp:llll IJ:ltU!'! -aid l1Oh', :wi! ~hllji 1'f"'I.,,'lh "dlu,,1 ,111\ 1'..I\I1H'IlI~ Il/lIl'h "hall hav., hl't'IlIll<uk tmdl'l ('i;
<br />of l\jlfllj;(raph !
<br />.., rh~~t !fl\; ~'11(H[j;,iJg:~Jlr 1,\tO }lro-UHd r;;:nh, LP.~~,," "i",\.t~:",'mtnb" ,l.".:1 Lt[t:"'\, .lfH.i tIther ~~,n.cnlmt'nt~~l \)r munJ..:tral
<br />i.:h,trge",. h1lCS~ \)f un"';)"hl.io"l. f~H I1d.., lldl f't'",-'n iHi'1i.lt: ht,~rt'lnht~f"H.::, .lnJ Hll,h."L1Ul! lhf,.~re\'\r th~~ Mt).n,f:,tg.c~ {nay
<br />pay the \~Hnt", and th~u the \inng..-g..'1( pf\\JHrHIY d,rh'n:1 the ~Ahci~d then;f.:~r h\ the
<br />". Tht~ !\10rtg~igiIH l,J.,tH r<iJ ld'~_' y.hj~h m~l,~ b'f.~' It.~\ili.~d ur~on lhe HHer~':'It tn f{:.'al t~,late and tmprove~
<br />In~n(~. :.:tfh.J whkh m~~ h~ h:VieJ u~'""\o thh nhHtgHg;;.~ 1,,1 the d,cbt ...e\.~urt'..J her\.:h~, i.Hily h) !he ,;xtl;;:nl lh,.it :'llh::h lj, nol pr~)hJhh-
<br />led b\' kt\\ and "Jut\- hi ~hc eXlent th..tl "iu~h \,vi)l n{~t mah~ rlris hx'J.n U~Urhnl'd\ btl1 (:xdlldin~ ~1n\-' in(,"Hll~ t~J\, State or Fed~r,(~L
<br />;mf";~etj.m 1vh)llg:ilgee. alll,J \CUil/llt: the ,>11)(1,,1 r".:elp: ,howmg'ud, l1lenf "Ith lhe ' . Lprll1 \Wlal.i\>1l 01 ,hi, under-
<br />taking. or it' the t\;tl)J'tgagr.,r is h} 1;'11;,\ nIlJ!.~ hcrcaftc! !f\'~nl U,h(i}e l)~ p..)nioJ) \.,1' 'hc af,)ft,,-
<br />""ill taxes, tit Uf"m the ,'I 'w, L",HJrl the fh", pi an, I"""" ('f If SUdl1;;w
<br />,Ir de;,;rc<, l'w,ide" thal all.'> ,Ull,Junt ", p...iJ tel the the dehl, the MO!tgagee shall have
<br />Inc right !o glV': mnd~ ((;11'" vcnlten n(ltl<.:,~ to the .Jll'ner the pr,:I1H~e" the paymef1l ('f (he I1wngag<::
<br />debt. !f "Il,"h 111)tjc~ be gi,<:,a, loe ""Iii c.kbt ,,!wH btc(Gmc.: due, p..yabk '\Inedible <i! the npwlliun \11' ,,,id ninclY dai'~.
<br />t>. That ;;h(mld he fail W p<lY any sum m ~ny coven.,m pr(hl{kJ fur in Ihis !\lion!!"!!,,, then n,,; Mortgagee. at iI, op-
<br />(jon. m:l.y pay (.r p,:rform lilt: "illlle, ,md all ,\1 m~;(k ~haU he "dded 10 the pnnd.pal ~um "",ing on the above l\ote,
<br />sh,ail be ~ecun:d hcreb~. .tua ,hall bellr trlterc,l at lit;; laW set r()n h 111 the ,aid note, until p,Hd.
<br />That he. herebj' a$~igns. transfers and sets mer to the Mortgagee, h.> be applied h1ward the paymem of the note and ail
<br />wms secured hereby in c~~.se j)[ ~:i default in the tJf ~;!n\ <d' the t'~fm~ {jod conditions of this ,r.-lortgage t,)f 'the said
<br />1101e, all Ihe rems, irevenlles an.d IllCL.1!!le W be from the . premise, Juring such lime :,~ the ... indebted.
<br />nesssh.aH r{,C!lam unpaid, ,mu Ihe"ihaJl hale ,my ;!gem i.l! it (k,i.l'c for purPU'i'; of
<br />repairil1~ said ptCfui'Mis, and cd r~n.(lng ;:.;ame and rt~\'cnllt'~ and it m~tY pa) \nil {)f said in~
<br />com,es ~[n,e-x,-pense;s. -i,),i said and com.uli;";,"HH1$ ~lnd in(ur.({.~J in (l;Dtin,g and ,man:a,ging
<br />sameal)'.d o(colie<:lillg , the !'>atanee if ani, t(, beto",ard the \.lisd:WfgC of said mLlrtgage
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<br />or here"llu erc;;\e.d <,.n the
<br />by ;~nd hal.ard'i.~
<br />l~r,ld
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