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<br />(J) month prior to its due ~~~1tQ ~oQ~ggllsurallce premium in order to 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
<br />
<br />(n) 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 flWrtgage insurance prerr,ium) which shall be in an
<br />amount equal to one-twelfth (I{I2) of one.half 0{2) 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 nn
<br />policies of fue and othet hazard insurance ~)Vering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (all itS estimtzrffl by rhe Mortgagee) less all sums already paid therefor divided by the
<br />number of months 10 elapse before one month pnor to the date when such ground rents. premiums, taxes and
<br />~u will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre,
<br />miums, taxes .,1<1 special assessmentS; and
<br />(c) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the nole secured hereby s.hall be added together. and Ihe aggregale amounlthereof shall be paid by the Mortgagor
<br />e3(:h month in a S1I\gle payment to be applied by the Mortgagee to Ihe following Items in the order sel forth:
<br />
<br />(f) premium charges under the conlract of Insurance wnll the Secretary of Housing and Urban Development,
<br />or monthly chargt (in lieu olmoYlgage ilLUlTOllCe premium}. a~ the case may be~
<br />HI) ground rmlS, taxes. asseumems. tire and other halard insurance premiums:
<br />(HI) mterest on the note secured hereby; and
<br />(IV) amoni1J1tlfm of the prinCipal of said note.
<br />An)' delictency in the amount of any such a!'Sregate monthly payment shall. unless made good by the Mort,
<br />glll!O.r prior to the due date of the next mcll pavment. c'.ll\SlItule an evenl of default under this mortgage. The
<br />Mortgagee may,collccl a "late charge" not to exceed tour cents (4;\ fur each dollar ($1) of each payment more
<br />than fifteen \ IS) day's lfl arrears to coVt'r Ihe extra expense mvolved in handling delmquent payments.
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<br />:l. Thai if tht' total oj !he p3)'II\enl;.; mad.. by th.. \lofllta!!"r under Ii, i of patll1(TRph :! precl>ding shall exceed
<br />the _WIt of l'''ymenl!< ..cwally' made by' the \lo~~.. for l!fOUnd fi"fl18. ll"'.." and "fi,;;essments or insurance pro-
<br />mht_, as the CaH(! mav' be. ""ell excess. If the loan IS current, ,II the oplion of the Mortgagor. shall be credited ~
<br />lhe \\onglOJ!:e" nn "ubse'l"enl pllymoot" 10 tw made II, the \lOrl!<llj!llr, or refunded to the Mortgagor, If, however, the
<br />_ddy paymenr... lIlo'll<k by Ihe Mortgap under ,''; 01 para~raph 2 pt<'ce<.hng shall not be sufficienr to pay ground
<br />rent. tax..s anll llS...."smenls "r in"'llrllollC" pr..mIUm,., ib tit<' u.s.' mil' b.., "hen Ihe "am" "hall bee"m.. due and pay-
<br />Ilbl.., Uttltl llw \lor1gagor ,.hall pay 10 the \lorlgagl'" any amuunl n......""lll} to mal.., up th., defkiency, on or before
<br />the dllw "nt'll pll),...t'ftt of sudl ground n'nt". tax..". ..,.."""..ml"Ot.. or in"l1rllllc" premiums shall bt> due, If at auy
<br />lime lhe MonglljlQt' ,;hall ttmlle. to the \lnrtl!~'" In "1'Cordanc" .nth Ihe pro""IOO" of the nOle ,,,,,'un>d hereby.
<br />full pay_1 uf Ih" !'JIlin' md.>btedn""" ""pn.'''''''lOO thereby, Ih.. \lortll~"" shall. in ....mpulin/( th" amounl nf slIch
<br />10~S, ,nNlit to the aecoum 01 the MurtllllltOf illl p'.ymrol" made under the ptlwislOns of fa) of parllll'apb 2
<br />h_f ..itkh Ih., \lortll~ hI\." nul b<-<'o_ .,bli!!..Wd to pay to Uw :-.ecwiary of 1I0u...'in!! lItld l'rban Development
<br />,,"0 MY bal"""" r<,lItllinllljlin II... fund" "ccumuhu..d unci..r Ih., prnvi",oos of n," of para/lfllllll :1 hl'f....r. If th.",,,
<br />shall \J(. a default untler "") of th.. prOVI"'Ulb ../ lIll" Im"lj!aj!" (<'"uitml!( In Ilpuhlic .al<. ..f the pr"ml""" lOov"",'d
<br />hemby, or if the Mo~ ll"qulre," tit" 1''''''''"\ nth""""" .It.'r <k'flwlt, In.. \fqrljl:ll!l"" :<hall apply, at the time 01
<br />lit" l.om_"""'....1 of "".... pt'tll......linK". '" al th.. III'''' th,. ,'rupt"'l\ ,,, "thl'".i",' a..quirt!d, th.. balanc.' tlll'1l fl'main-
<br />mg ill the fund" al'cu_Iawd un<kr {i'J of pM~raplt ! pr"n..hnl!" ili' " ......dtt Illlaln"t th.. llmounl of principal then
<br />r_lUnin~ unpaid under ,,:aid "UR', and ..hall p""pt'rl, lid)u,,1 ...., pil,m''IlL.. "hi('h "hall ha\(' bl'cn mad,. und"r fa}
<br />of p~r....h 2.
<br />.1 Tb.at the Morlsaat_Of ..Iii pa} Jth:KjnU rc-nh. ~a,<..., "h:"oc~""mcnh, "'Hiler ut('~, 4fld t)ther governmental ot municipal
<br />~'barfe~. fine~u ..it impllsitkJ(t:" to"' \l.-h~h PHi\,t!oHUl ha,,- nul ~en mAde hetelObefoft'. ,-tfUJ in default there-of the Mortgagee may
<br />p>>yW ",",e, art<l tha.lthe Murlpg..' ",i! pmmp.!; <k1t'''I tt..: ,d!lt:."l reeelph lherd..r 10 tt..: Mllrtill'tlt!'"
<br />( T~ M'lflll"ll'U ",i! pay al! t".", "lu,," mal he Ie""d ul"'n Ihe Mortgagee', Inlere't III ",id real e'lale and improve.
<br />ment>. allll WN<:b may he iHICd up"'" Iii" "'ort~ ..r lhe dd'. >e.u,ed ht'leo, ibut onll to the ",tem tilat ,uch IS not prohibil-
<br /><<J by ]all. and onl, It) the <\Ielll tltat ,,,.n ",ll nut ma.." Ih.. 10lln u,un,...,). 1...1 e,cludlllll any mcome lax, Slale or Federal,
<br />Imp.:l>e\l,)n Mot".<<, dIId ".11 ilk lhe ollle",j le''''I>I ,1.....lllg ,,,.h p~I.O.lCOI"lIh the MmtgaJ!c(. t'p.:lO 'IolatlOn of Ihiv under-
<br />takt.... Of if the Mt>ftl!llB<>f " pt<>lllbllt'd oy '1111 la" ",,,. v, hercafler (,,,"... fmlll pay 109 lhe .... hole tlr any ponion of lhe afore.
<br />\aid taAC>. (It upolllhe rendenlli ot any ((>u1I d".:!ee pwhlhll1l1i the payment!>y the Mort(lll,or or allY ,uch lUes, of if such law
<br />Of de<:.<< pro.ides that ~ny .1InOllnl ,.. paId hy the Mort\lag,)f ,hall be creullea ..1I1he lIIortlajle debl, the Mtlrtlll.gt'e ,hall hav"
<br />the richt 10lllYe nilliely day' ..rille.. ",>tice 10 the ,."ne' of the mortll"lle;;! p'e/ll""', reqUiring Ihe payment of lhe mortgllge
<br />debt. If S\lcn noli<< be lliven, the "",d debt ,!\all benfllle due. pa)ithle alld ".>lleellble allhe e,\plllllloll vf vai;;! ninety dllY'.
<br />t>. Thai ~ he fail 10 pay ..ny sum ur keel' lIJly' "",,,,,,,,,I prtl,ttlc:d for illlh.. Murtgage. then the Murtgagc:e, at it, 01"
<br />,-, _)1 pay Of per1urm the same, and all e\po:llllltUle' ... Illlide ,hall he added In the plloclpal ""11 "....illg 011 the anove note,
<br />""-'I he;;e;;ure;l Ileo-eby , and shall be.... inlereSt "I the r..te s.cl r.>rth m lhe saki nute. umil paId.
<br />7. 'That he hefeby ll'iil&n', UlUtifen and kts <Ive' tt> the M\\ftflllllC(, to be applied toward lbe payment of the ROle and all
<br />Mimi s<<ured berch)' in case of a Jdalll1 in the l"'rfurmancc 01 any of the lerm, and ,onditmn, of tni.. Monllll8e (ll lhe >aid
<br />oote. aIl1l1e rean. Nlv'e_, and income to be <leaved Irom the t110flllatleU premises during such time as the morlg<\j!e indebted.
<br />IICiIi $ball, ~ uupaid: and the M~ shall ha,e p.:'''er 10 app.:"1lI any agent," agent' II mal desire fm Ihe purpose of
<br />re~.ai4~ and 01' rellt.ins lhe $lWte and ,ollecung the renb, Ie"",,,,,,, llnd lIlCOllle. and it may payout of said In.
<br />~ aIl~t"lC_ of ft!pa1n1lj. ..S1Oid !'f"mis.c., and neo:uary ,;ommi.'Mon. and e~pense.. incurred in renting anumanallingJhe
<br />_and.of c:<.llIe<;tiQ&rCGW$ therefrom; tn.: baliin.;" femaming, il any. tv be applied toward the d,>coorlle (If ,aid mllttgage
<br />mo:lebled~,
<br />S. TlIat kwm ~ tile un....ov_ent. no'" nisUq>Of hereafler ereeled on the morllJlll!ed pwperlY, imur<<J '" nil.)' be
<br />~ ff'affl time to lime hy the Mllrtpgee apiml I(JS. by tire allll othel iluaflh, casualties and cllntingenclCs in ,u,'h
<br />..~.lUlIl'Uf.~.~ tima, bit required lJy the Motlla8et: and will pay prl,'mpllr. ..hen due. !lilY premium, un '"ch
<br />~.Pl'~ fOt'pa~ 01' whio;h ba6 IIlll been maJe hen::Inbefme. .'\11 insurant:e shail be ,anietl In ct>mpame, ar.
<br />PW~I>>' lbe~~l\n6 the ]ltlli.."ie$ iInd r<<lewab lhereof shall be held by lhe Mortgagee <lnd ha", "ua,hed therelo It,,,
<br />"Y~(~in favOl' of aodin 'o<lII.....ceptallile 10 the Ms1flgiiljfee, In <>enl elf It'" Mortgagor ",II give Immeuiate nolKe or
<br />_1U!ht,~, w\lQ may ~ prtltlf ,sf k>\" If !!l>t made promptly by Mortg.'l!Of, and each IlIsurarn:e ,,'mpall} evn,
<br />~..~ lWl~ an;:l d~ to make payment for sUl;h lo$$ diffi;Uy \<. tn.:. M1.lf~e Instead of to the MurllllliOl
<br />...~ jointly, au4dW ifJ$U.fl1lK~ pmcetds, t)f lIl\)' part lhereof. may ~ applied by In.: Mtlttlajlee alll< tlpl;"n ellhet
<br />t4Oit.'._4fdllt~$!li _~ $<<Utetl ur 10 the tt$lutatiml III r"pair ,.ftM property uam~. In event of flltedo.
<br />WIt, .CIt. ..!If odler lraJt$(et 01' tllle \(> the MUltNw !'fli$l'<<ty in e"ulllIlli,hnumt of the mdebtedness ""ured hereby,
<br />.. . t 01 tlIc M\lf!p&Ol 111 and lOan)' i_fillI>:e p..IiCleS then in forr;e shall P'" 1,'lhe PUf\..h'''N ,... gnuttee.
<br />9,. ...~ *wllatend liC<;uOlyfor l.hepaym..nt of the lIllle deOlCribN. and all 'ullIs '" heellme due 'Hlllel tn"
<br />~f!tf,~ ..~ ~ 10 Ulc. ~ all profit" re"etlues. lOy'.utie" npb and Nile!ll' lK,..rUlnll'" In.:
<br />~..r_hltQtl.ad...lel$~ \fIluid premi.e$. Wilh the ntl1l1 to r""(tv" and t(;(:(lpt tor lhe S>llll( and alll'!'
<br />_l#~~iU welltlCfort:"$ .f~l ~.u_Nithf,e~Qt thi$ IfI""~, and lhe M....l~e JIl"~ demm1<l., '0"
<br />W _ t<<~tkM)' ~ pa)_~ !i;1M!ft <lJH! 4nd ptlYlltmt. hut:.~ oot bI:~lIiJcd '" (" dlt 1'1\" .'.~tll"IH I> i<' termHla!e
<br />_~.... _ vt...."llOflu.le_ of I" m.~..
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