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<br />83~03903
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<br />(I) month prim to its due date the annual mongage insurance premIUm in order to provide such holder
<br />with funds 10 pay such premium 10 the Secretary of Housing and Urban Development pursuant to the
<br />National Houtlng Act, as amended. and applicable Regulations thereunder; or
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<br />(h)
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<br />(II) If and so long as said note of even date aIld this instrumenl are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in licu of a mortgage insurance premium) which shall be in an
<br />amount equal to one-twelfth (/12) of one,half 0/2) per centum of the average outstanding balance
<br />due on the note computed without takmg into account delinquencies or prepayments;
<br />A sum equal to the ground rents. if any. next due. plus the premiums thaI will next become due and payable on
<br />policies of fire and other hazard insurance covering Ihe mongaged property, plus taxes and assessments next due
<br />On the mort~d property fail fJJ I!Srimqred by the Morrgll8ee J less all SUms already paid therdor divided by the
<br />number of month. 10 elapse bef'lre one month puor to the date when such ground rents, premiums, taxes and
<br />_nlS will become delinquent. ioUCh sum. W be held by Mortgagee in trust to pay said ground rents, pre.
<br />mlwm, taMS and special aaes.sments; and
<br />All payments mentioned In the two preceding .obiecHon. of this paragraph and aU payments to be made under
<br />the note secured hereby shall be added tl)#ther. and the agg.~te amoun1 thereof shall be paid by the Mortgagor
<br />each month in . single paymenl to be awlled by the Mortgagee to the following items in rhe order set forth:
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<br />(c)
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<br />(I) premIum charges under tho cOl1lr.cr ,)1 tnsulanc< with the Secretary of Ilou.jn~ and Urban Development.
<br />or monthly cha.gt Iln Ii"" of m"n.~x" in,"Mflre I'''''''lumr a. the case may be;
<br />(Il) tlfoond rents. taxes. ."''''''leltts, fue and other haza,d tlIsuran~'" premltlms;
<br />(Ill) rntemt 011 the nute secu.e.d herebv; and
<br />(IV) amortlZallon (,I' tbe ponel"at or....1<I note.
<br />Any defICiency tn the amount of any such agg,.g:ote ",omhly l>aymcnt shall. unless made good by the Motl.
<br />gagor prior to the due dale or the nut such po;",e"" c<lllslllUle an <,enl ot default under this mortgage. The
<br />Mortgagee lIlay coil.." . "late dll<'g<" no, 1<) ,'xc...! i"ut c~nt. (4t) t,,, each dollar ($ I) of each. payment ",or.
<br />than (lfu"n (15) day. il' arrears to eo~r the nUa expense IIlvolved in handling delinquent payments.
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<br />3. That if t.lw iur.al or th" payment.< mad" b~. th.> \Iurtl!iljl'" und., f,'.! of paf1l4!raph 2 procl>diRII ;;hall exceed
<br />tlw _t..f pay.....'" ""wally.... by the \lortj;lIl1"" for l!fOlJnd ,....t". tax." and .s",,;;sments or insur.mce pre.
<br />1lIi_.., M tlw ";as,, may b<<>, ~ueh ""C.",,. if d", lo..n " ("rrent. .1' rhe optioo of lhe Morrlf..gor. shall be credited b)
<br />llw ~... on .ub,..,quoo, pay_nt~ to, I", mad" I" till' \""'I!a;{or, III rl'funded in lh.. \1ortga/!Or. If. howe...r, the
<br />_!lily va:r-at.~ lJlIIdr by .IK MortIl"!fOl' under II.) oj pamgr"l'" 1 i><<'l'cdin!(shall nUl he soffil'icnllo pay ground
<br />rentt- ta:~i'i.and U~-P!!i81fWftt."" -IJcf" tnsu-rIlU'(" pr(tftuum:--<, i!,i-!; th(o> ..,.a....P ma~ b-(~, "twn the J-oIllm.. ~hill-i bee-Ome duo and pay.
<br />Hbl.., tlI<'ft tlK<~.. ",n.1l Pili)' t.o tllt' \lort,.JII!'... 1m) amount n"n.~"'ary. to mak" up tI,.. d",lid..n..y. on or helore
<br />llu; datb ~ pll.ymrottt o!~....h llrou"d f(>nll'. taw.,.. .."",..",,,.-t,,, Of ;n""rann> pr..mium~-hall Ill' du". If at any
<br />lllll",!he Mtmgllll'l'f ;4tall tlltldt!ru. th.. \1orij(lIjfN'. In .,,,,,,rdall"" WI'" Ih.. pf'<lv,,,,iun,,, or lb., nnt.. ",,,'ur"" heroby,
<br />filU pll.Y'R'Joot lit the <lfttilt' indttbtedrw,",,, N,p"'H'nl...1 tl..,wby.. Ih.. \It,nl!ll;ll'', ~halL In ....mpuhn!l ih" anI"""t nl 8tJ(,h
<br />flldebtednc..", ctNit to tlK ""''''''''11 oj the M'll't(lilaur "lll'"ymeiH.s ,,,w;k under rll<' f.."..,sion.. of ('ii of paragraph 1
<br />h_C which th,,\l<wl.j!lIj!.... b"" ....t I..""...." ui>lij;lItecJ h, Plli\' .., Ifill ",",c'l't't"') of Ho.."inl/ and Frluw [)c.velopment
<br />!llid an) ""I~.. .--ain.1l,tl .n tb.. fund" "'."".....1.."'''' ",..(... lh.. ",."i.",...o.. ..f Ii,) of paral!raph 2 h....eof, If Ih...."
<br />shan be il.def~li:h ut.1idt-r ::t.n~ ot' UJ(< pran...ioo~_ Hi tjH~ murtt!~f. nh,uh-il1p. to jJ ,mblte ....ait:. of the pWmi';"1H~ ('ov(.l>red
<br />h~. ot iJ th.. .....r1g~.. ""qui..." th.,' prop"''!> u"',."""" a/t", tldault, Ih., \lor!/lal(l'f' ,hall apply, at Ow tim.. of
<br />Ut.~ c()tUl(lfft""f>liQ-Ml- or- ~dl prut:~in~~~ ~'H' rit Uw ,1-..- tit... ?mJW'f1~' ~_... ot;n"r\\-'...~~ axqtH"~d. tn.> halarH"~ thPn r("hUlin-
<br />'nil ill "'.. flllltl" a""ullll.lato-d un.t..r oII'Of"lln'jID .! pt.....'<Iilll(. .' a .-r..dit "!lUll,,,t th., an"'un,,,f prilld"al Ihtm
<br />rM'a.ifttn.. unpaid und4"'-f '"-iUd not~, -.uu! -iutl! i.K'UPf:'th ,uljU,.l iU,"Y JHPd'hNlt... nhidl ...,h~H h'itn" bN~ nuuie l.tOdl-r (r.ci
<br />of ptU'ltf\r"!ffl 2.
<br />4. That tftc- MottPlut- ,,;'!H pay )::H){jnd tent<>.. LJ\t''''_ ;-p,,"(:,,'I,[ft('flh. ~~i~' ride;,. :il-nJ (Hne! tt\vc-!nmenWl of muni!;.'lpi:ll
<br />dtllllC;"~ finc:~, .x imfK"M'tk~f1-", for ..h-h,~h PhlVfll,jfiH hotl''!! (!HI ~(':n f~l~(: h-C1Ctnhef{11'C. ;n\d in JeLwlt thereof the Mortg-ag-et: may
<br />pi) tb<- ~~ and thlit t~ MVft~(n ~lH rf,,'mptj-~, <id~\-er jilt i,.\lh~idf tt,(tPI>;, {hefd~)r to the Murfpgtc
<br />~_ The Mt)ng"ugof ",tU Po'l'- <,U H-u.,C'!! \!r-tad} m)i~ he levie-if -upon the MQHP-Bce', HltCff\t in ",.1m rea! c;,t<.ttc and trnpfllve-
<br />-mcnb" MlO wh~-h fT'.:a} be; k\-l('4 upvn lfth mdng.>!il(' ~~f the th:h1 if-e~uRd ht"-t("~~ fbtu n-Hl}' to the extent th~l '-lIeh h not rn.lhibit-
<br />cd b)' m'w aM OfJ:1Y tv the ~\hm! fhJd 'l-u,'h "'-in ttvi m4tkc ~tu-~ h:<a-n ti.\UriOlHL_ {}ut ('xdthiing dn}' incoille t.J~, S-Ude t1r Federal,
<br />ttP~ 00 MOit_toe.. ~ wiU fik tht' ~1tficial r('fcipt ,no-\4'Ul)l ",u('h pa~rnt'n1 wlfh tht ;\1urt~ _ t !pOfl violatlon ()f thi~ under-
<br />~. 01" it" -tbt M.~'ff i\ pft)h,bttt:d~} itn} !~"Q,- nu!o'. '--" bt'f'tlltfkl e'!;.lm. frt1t11 pi1ym~ the whole tit an}' Pf..Jni-nn f,)f the afore-
<br />uiU 'a,'\ej:~ or u~-n the feOOefttijI of an~ ~t.~,J,ft tle,;:rt"t: r-t\-.)IUmlulg- t~ paymftfH hy [Ilt- Mmtgagur Hf an} '\l..h.:h lrHn, Of if such la'A
<br />t..lt~~- pt-o~.td~i that iH'f)' ItfiltU,If}t ~(t p;llhi hy the- \-tt)ttWnf "haB N \--rednc-d \)0 tAt: mHf~B<' debt. the Mort~ee shall have
<br />tM right to IW~ -nUu:,ty Jay~' "WtiUcft fl(){Ke W tbe ~iwn.cf {if tn< J'ltvt!PJe.u p-f(tuJ',e,. requiring tht rd)'nh~fH \)f the mongage
<br />dlfbt It _IHI<)tic;; be ill"Cn, tn., ""Il dchl -JuaJ1 """"me ,J"" , pai'.hle alld ","leell!>le at tilt e.pimtion vi '.Id mllet; day,
<br />b. TlMlt sllooki lie fail to pay"", 'um ill ke..p ani'n"""""t pto'Jded 1m In this Mongag<:. then ,he Mortgagee. at '" 01"
<br />tion. m.r ,,",y lJf perform the Nome. and all "pclld.ture. .0 mllde .hall he .Jded to the principal ,um (,,,mg on the "Ix"e note.
<br />shall"" ..,.,_dlleteby, and ~ll t>ur1rucre_t at the r.le "'I fmlll in Ih. said Mle, until paid,
<br />''r 'f'bat he nCfeb)' ai~", ttK.n$tt'r~ and \.t't\ H~ef h} the Mi.lftpgCC.. tu h.e i;.pphed h)w~rd the pay~ent nf the r}dle and ~i!
<br />illtU&- sn;utt!d bd'Ch)- in- caR -\M ~ default in the P<'rformant:e of any (If the lelrn~ and \.:(}nJltion~ of Jhf-s MorlJroige ur tht 'l~i1J
<br />no"', all tile rcuts, revellWt,' and "",ome lt~!;>e denved from IIle mottgaged I',em".. dunn!!. ."cll llme a, Ihe m<lrlgalle IIlde~led,
<br />>leU 'IhaI1 rWlliin uilpllid; and the MOflNe.e ...MlI have ""wcr tll appOint an} agenr ," agenr. It m.;d.\ire tm Ihe p"rp,'" or
<br />tt'98lfitl& $lIidpreml_ "lid of rtntitttlllle """" .\lid coJlectillJ! 1M renu, reven"c. and Incomc, "lid It may pili <'ut "t ,,,,,I In,
<br />comet; au, -e~s ('If~: said punus<-s- and nc~t:'~5afY ('t)ffi:ffitS3It\JOSc and e.\pe-n~;; m\.~urred In renliog j1nd managing the
<br />>aIlWi- '<If. ~tins ren1aki thcrefft!m; the balatll;lf fem","mll, jf OilY, '" l>e .pplied to.....d the (bdlllrge of ,aid morlgajfc
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<br />Iii. 1'hM be Iitil.t k:<<;l' tile impro.e_lIb "".. c..,tin; C'I he,eafter u."I"d nit the motll!"t!ed 1'10>1'<'11" In,med "' m;;y be
<br />te~ '_""'10'~ by the MMtl!"il'e ;;gains! loss hy fir. alld other hazard.. ..a.,,;;I1.., "lid conlinacn....., '" ,,,cll
<br />~.A!l!""'1I<:bl'<l'101lk~' may berequired by tbe \Iillt1l"J!Ccaoo ...iJl p.y prumplly. ..hen due, "")' P"'''''''II' Oil ,""n
<br />ltl~ PftivMIl/ll fllfl'3)'t1lC", of wl!ich hM not oo<-n made l!e,etnb<:f"re, AIf """ralK. ,hall "" ""med III ,'ump."'c' 01"
<br />prll..at>y tile ~ and tile poIkie.1l(lJ/ r"",,..ab rbereur shall he n;,ld by tile M.lt1l!"t!e< .nd havc "!ladled thcre'" I.."
<br />l'3ytlb1;i dlmie. '" t....Qt of a!Id ill r....1lI JlCC"",abIe I<l rhe MllttJl,ltg... In <venl of 10" M"flga~lI ..,II gi.. ,romedi"tc nUIk. oy
<br />lIflI.il...~ tbc."'1If~. w!wmlly ~"",,,,,,t ",r lo>s it "'" moo" p",mplI, by Mortpg'lt, alid ""d, mw,ao"c ""'npilny '''>II,
<br />"'1~"~3~bIld ll!ld.di!'cctcd to make paytllent fM weh k". "ir""lly to tlleMortgail"< "',Ica,] "f lu the Mllttll"lI'"
<br />Hi_ N<<lPl" joiftity. and tile insutan.:e pIoce""., ... .ny p"n tb<:teo!, ~. he 8Wltcd b" the !\f()t1llag.., .t its "ption eitn;,t
<br />IO.U., ' 'Q!t$ibueby '!l:C'Ur.,4 ()( tv theft"loratWnOf le""'it of thcl"op;:rty damaged. In event urt",..",tn.
<br />. ' Tl1t!ll$fef<lf titlllt" tile _~ properly ,nutin;ubhmem ot lhe ill<lehtcdl\n,..cmcd here!>y.
<br />cd:- ~ -me ~~ln-.~ itl aA)' inmrau,,:t'~! 1M" in tt)li.:~ ~h-aJI pa\~ hJ the- pUI(ha~.ef Ot .gran fee
<br />,. 1'lw.~iIll4 ~~r;o! """.....it~ lor the p"yment 01 the note Je,,..,rille,L,,oo ~Jl ,,,n,, lJJ lve,"fI\< <llle (,lIder thl>
<br />__,\h ~ bud))' auiea. t.. too M~c "II prolif$. ,<vctl""~. roy"tt~. ng/II' allll bcneli" "txl\ltolt Is.' the
<br />~......, .ll~' 1Jb4 all..>>! l\!IlIlI" /(oa",,, 011 Aid pttmik", witll tile riPII" r<""ehe ami n:cciPI It>! Ihe "m. and "I'pi.
<br />.. iltlOl!id.~.. weli tmor" M .Itf' dd"",,t in the ,~>Odit"m, "~I till, ""'ftgajj':. ",,(/ the Mortgllll<< ....y ,kmantl. ,"C
<br />l/>f_"",,,,..ttio&y.w;ftPlY_tlU "b<:ll tkre ,uid p.y-.ble. but,lWl !>Ot h<J ,..quued '" (<, d,', n". "..,gllllt<nl i. w terminale
<br />lItIif~ lIlIIIlIlId v~ _ r..lclo~ o! tlm 1I>i>rt_.
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<br />tH!O-@]i"t.lM 19- '1'91
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