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<br />83.....uU:3570
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<br />{J '} rnnnth pn0f ~(j ifS due date t.he annu3:! iT'ti)ngag:e inSUY3n..>e 1'r~rnH.Hn in nrder ~t~ rn:V.'lJe such holder
<br />v~ith fflnds TO pay such premium !~:; the Secret3.T)' ,Jf HO:Jsing :J:nd Lfban rJeV~Iopnlen! rur~U~1nt !l-' the
<br />Natio'nai 'Housing ACt, as amenJed~ ~:nJ applkable 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 {he Secretary of Housing and
<br />Urban Development, a monthly charge fin lieu of a mortgage insurc."lce premium! which shall be in an
<br />amount equal to one-twelfth (l il2) of 'me.half (J j::) per centum of the average oUTstanding balance
<br />due em the note computed without taking into accoun! delinquencies or prepayments:
<br />(b) A sum equal to the ground rents. If any, next due, plus the premiums that will nex t become due and payable on
<br />policies of fife and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />onthl~ rl10rtgaged property (aU as estimated hv the Mongagecj less a!i sums already paid therefM divided by the
<br />11l1mbt:r of months to elapse before onemomh prim t,) the date when s!Jch ground rents, premiums, taxes and
<br />assessm,~rlts will become delinquent, such sums ro be held by Mortgagee in trust 10 pay said ground rents, pre,
<br />miums, tax,esand special assessments: and
<br />(c) An payrnents mentioned in the two pre(;('ding suh:>ections of this paragraph and a.ll payments to be made under
<br />the notl~ se.:ured hereby shall be added IOgether. and the aggregate amount t1h~rWr shaH be paid by the Mortgagor
<br />each month in a sing)e payr!H~nt to he ~lppJjed by the Mongag<:e 10 the following ilC'lTls in the order set forth'
<br />
<br />(I) premium chargcllunder the ,ontract of il'lsurancewHh rhe S<!CTerary of ilouSl11g and Urban Devc.lopment.
<br />\)! monthly charge (in lieu, insurance rremium/. as ihe caS(~ !Hay be:
<br />tH) gWllnd rents; taxes,assessmenls. and other hazard in~urllnce nremillms:
<br />flU) intete,I<l on the note st'ell!c~d hereby: and
<br />(IV) amortizatirm ill' the of said note,
<br />Ally deficiency in rhe amount any such aggrq~are ml>nthjy pavment shall, unless wade good by the Mort.
<br />gagor prior to the due dale of the next >\.ld1 paVilW:iL ,;iJlJsl1tnle an ,'venl of default under thiS mortgage. The
<br />Mortgage,: may "oHeet a "Lale ~harge" !lot It.> ex;;(:';,! j;'\ir ((:IlIS i4~) for each llollar ($ I)or each pay.menllllorc
<br />than nfte,~n i! ': 1 ;1;,)'5 ip arrears to ,,:owr ih,l ,:J<tl':! exnense lllVolved Ul handling ddinquent payment~..
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<br />:), That if till' lOIll! of th., paY!ll{'nt:. made hy lh.' \hmgagllr ltnd"f (',) of paraf'!'aph :! prpC\.ding "hall pxclwd
<br />the amount 'If payment,. <H'lllaliy nlltlh~ hv tJH' \lortgag{"p fa!' i,!!"jUl1d fenb. ia:H~,. and a""pS>in1l.'nts or in,.;unmee pm-
<br />mium;,:. at'tllt' ClI,lo'{' ma, Ill', ,';licll cx~:(:ss, 11 !h<~ loan IS current, dt \.h{~ OPUOl1 01 the Mortgagor, shaH be credited b\
<br />till' \longllg('p 011 "lIh"'~!fUefll payml'nb Ii, he mad,' by thl" \lnrlgagnr. or r;.fllnded 10 till' \lildl~llgllr. If. however. thl:
<br />monthly payment!' made by the Monga1/;m under" "~f pamgraph ;> precedmg shall nOt he suHi(:[(.11t to pay ground
<br />['{'IH. l!lX!'S Clnd a"~('"sm(:'nh or I!l~UraIH'(' pn'mium,.., :1,., 1\11' I'lIS,I.' ma\' h.., wlwn tlw "anw "hall hN'.Ol1le due and pay'
<br />atilt- then thl' 1.I1lIrIJ!ll(0l ,,111111 pay 10 Hw \lorll\al;"p an\' :tmoulIl O('('p""arv lrl make up Ii\(' defkil'nn:, Illl or lwforl'
<br />the daLl' when Ilaymenl of ",uell ground wnt~ i:,,\,". ,1.""'('".~n1l'!l1~ \II' m"ur:IIH'I' prl'miuffi""hall hi: dOl'. if 1.It any
<br />tinw the \lol1ga./(m ~hallle!J(IN 10 1111' \loflg:l/~"'." In JITorclall'.t' ,lith tlw prO\t~IOIl.'" uf tiw nole "pl'uf"d hereby,
<br />rull 1l11}llWnl <If lilt' pntHe InddJt('dlll'~~ fI'PI'I'''''I1I(',d llwr,'by,. II", \lurq!ag('" ~hai l. In "f.mlpUtlng the amount or "llcb
<br />IlIdebwdfwsS, G,~dll (0 thl' :,(',"ount "i the \10rlgagol' i l';l\I!1C!1l,", mildt' under the pro'l,",wns of {fI: of p.uagmph .'
<br />hl'ft~d' which 111,1' \lnfl.I~"~f'1' ha~ nut IWl'llrlll' ..bl iuai('(t 10 fHI\ to th.' ~.!'~'r'l'ulry or !lnll~Hll! 'IItd ! 'rlmn 1)~\'d(\ptl1(:nt
<br />:illd :Ill\' Imlan!'e n~mllillll1C in tilt' rund,; :l(Tllm,llal.:d UllllN IlH' prnvi"iof\7' or of paragraph:! h,.ft",f., If IIl!'r...
<br />,;hall hI' a d,'faull und,-r :un HI th,' pr"'I"WA" Hf Iln- 1l1l:tl' ti,;IL\ ,. "'''UIIJlH! III ;J pulllll' ~;llf.' of !lit' prprni",',; l'oH'l'I'd
<br />h(>l't'oy. (If if till' \lungaM"" ;H:lluHI''' tilt' proppn~ Hlh.'rl'.l~" ;d~N ddaull., till' \l"rtgag"I'~hail apply, at Ill!' limp or
<br />rill' (,IlI1\IlWn"I'I11>,'fll of ~u('h prol'('l,.hng~. "I ,it th,' I nil., th., pmpf.'rl\' olllPn' 1-" ;H''1l\!I"I,d, IIH' kdann' 1[1('n rpllwin'
<br />InM in dIP llllllj,,, :HTUllllulawd nndN c' ",r par:II:nlph ~ I.H.I'l',.,hng, ;1" .1 eH.dll :11,<1111"[ 111\' ,Imount 01 prllll'iplll ltH'I1
<br />r"ll111ilHl1g unpaid nlld.., ""Id l\(Ilf.'. ,llHl -h"ll 1""1".'1'11 cltl!n,-l .111' 1',1.\ fiwnh .Ihi I'h -hall ha I., iW1'11 mad!' nnd..r (" J
<br />n r (>aragrliph "2.
<br />.+, Th.at ~ht' \ilHng,;;~~or \\l!l jr.:nh. (;:LX~,-"I< ,j'-,S"::--"Illlcf!I",,;, A~h't L,'1h~:-" ;iud t'>{ftt'[ 1:!ovt:rHfncnL~l lH munkipal
<br />\":hargc~, tine?'\, ur HnrH:.h,i{it)n~, 1'D1 pri'i\hH_iO h~t~ H(H 1'){:t:H m~Hk hCfcll1ht:'fofl.'.. dnd in deL:lltlt th<:reof Iht:, ;;t"t)ngagt:.:t~ rna}
<br />PilY the ~afnC' and Ithat the \\'sj1 fH\Hnpily d~h'q~i' lht' \>th>:ltd r\;,'\.'~~IP"S ther",~fHf ill tht:'
<br />5. The: ~h.Wlg;l,g\)f will pi~~ \\:i't'~ v..ht\.'1't m.,~) t'~t.' r\';'\lt,'d UPtHl !ht" ,., lnH~rc~1 Hi rt',dl "C\t~dc~ ;~nd HT)pf(rVe~
<br />!1lents. ~tnd v.-htch rna\' Pc: kV$eJ olhh n'H.irigdgt: <,1f the' dchi. ..,c":Uft:J hcreb~, tu the \,',\ti~n% th~,tl )~h.:h f~ not pruhibil~
<br />ed by law and dui} t\~} th~ e\l\:'n! '~lJ~h lAd! f1\\1 lnake thh kidO i:.L.;\.1,n\.n~~.1, hUI ~U1V inL:ume :~1~', Stalt ()T' f-'edcfaL
<br />inlpv~~ed on tv1ong.;,lgee, ;,Ind ~,:jn Jlk th(~ I)fh\..~tai r~~;';i::lpt ;;"hti\\-ing ~Ij~h pd~1;' OleIn \~iHI the ., . t:pon \,iOt8.ti'i..H) of Ihi;-; unJ("f-
<br />taklng~ or if 'tilt' \1ongalf,(~r ,., prl.Jhiblted t,,\ hH\' fltJW..H ht:u.::aher (,,\t'ling fr..JIH Ing \\, holt' nr th}nt~)fj tlf the afore,-
<br />said t~ixei;. or upon the H~ndenn.g .,')f any ~'fH.1ri vn)h~tHung Iht" p~l)fH~nt by the Dr an), laxe:-., t.1r if \;u\:h ht\\
<br />or decree provide, th", an,\ atl\,lUm ',.I ,'"iJ h, Ih..: M.ortg"gm ,hail t:, ,,"<illite! Oil the deb!. ,he ,\lQngagce ,hall hale
<br />th~ ri.ghl to give nim:ly ciay, \HlU"!1 noti,,, (" ,he <,wnel Ihe the I'll, HH:111 of Ihe !Tl(..ngage
<br />dehl.lf $u..:h OOli(:<e be Ill" "UG debl ,haH ('e":,Hl1C due, payable :n Ine c~,pirali.)n of ,aid [l.!ne,y day',
<br />6. 'Ihal ,h<:.'uid h, to pay ;my Sllln ,'r an) antpl<"ided for iflthis then the
<br />don. mil,. p'1}Or pc,rform tile 5ilme', :mo all ,0 made shail b~ added to ,he sum owing on
<br />"hall be secured hel'~bv, and ,hall beal iracres! at lhe rdte set forth in the 'Clid note, unlll P;IlU,
<br />'7 That be hereb;' a~f..1g1b, trafJ.sJers l.\nd ~e'l~ o\.'~r [,he, ).1i)rtg.agee. t~) be: :..~ppl.ied h)V">.Hd the t'rf the nOl<: and ~lH
<br />~Hms: secured h(~n:by in \:~ist (rf a dej'auh 1ft lhe an), ~Jf the H:rmf~ ~tnd c\)ndili~,H1S. \hil:tgt~ge or f.he s.aid
<br />not.e,~ an the rc:nh~ revenu-e,,~ and inCOtlle h~ be fr{)iH '(he. rr~rni$es during ,such time a~ ihe inde-btc,d.
<br />ness 'ShaH rCfl,lain and the s.haH h~t"/e to any ~1gent or de_:"rlre. i'O-l PhlpdSC' \d
<br />repai:ring,sa,id ()f renting :>>,~tffH,~ t.tnd the .rents, rt;;\':entH,~'S ~Hld it fndY pH) out uf s;1jdjn~
<br />comes, (tH $aid and cljJHunis&ionit a,nO incuntD in n:.nting ~lnd rnan~tging the
<br />same baJ~,HH:,C if ~);ny~ to he tcnvard the: l:hsi;harge of sa,id rnongagc
<br />
<br />it, <Jr'
<br />ar10v;.; O~ll~,
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<br />exhl1ug ~)r hCfcaHer efccie-d \In lhe. m,nrtgage.d r~nJpeny. iu')ured fl_~ rnay be
<br />1+.,):..;.>, 'b) l'\r~ ~lnd other halan.ls, (~:to,;t!.aHie':'r, <:ind ci.Yf'ltjng~nciex ~n ~.u<:h
<br />d,le ~1nd wiJl ';;linen (Jut'" any lin SUi.J\
<br />be in
<br />ura.f have ~H.l~h:hl.t(~ lo,~~~
<br />\~:in 1:n'l.HH:dJHi.t:: nU'li(~e hy
<br />l.",qt'!.
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