|
<br />83-004083
<br />
<br />(I) month prior to its due date the annual mortgage insurance premium III order tn 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 />(II) If and so long as said note of even date and this lIlstrUlT1enl are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in liell of a mortgage illSl/rance premillm) which shall be in an
<br />amount equal to one-twelfth (112) of one-half (112) 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 Ihe ground rents. if any, next due, pius the premiums that will next become due and payable on
<br />policies of tire and other huard insurance covenng the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged properly (all as estimated by th", Morrgageelless all sums already paid therefor divided by the
<br />number of months to elapse before one nwnth pnor hi the daft' \\-hen such ground rents, premiums. taxes and
<br />assessments will become delinquent. such sums tt> be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums. taxes and special assessments: and
<br />(e) All payments mentioned in the two l'f,'ceding suhsectlOns of this paragraph and all payments to be made under
<br />the note secured hereby shall he added together, and rhe aggregate amnunl thereof shall be paid by the Mortgagor
<br />each month tn a Sll1gle payment 10 he "pp!ted by the Mortgagee to rhe following Items m the order set forth:
<br />
<br />(I.) picnuum charges unJ;er [he .:ontr<lct ot msuran...'I..' WIth rhe Secretary of Hnusmg alid Urban Dt'vclop.nh:nL
<br />Of monthly ~harge {iff lit"t-l ofmonf01[t. msuronce rtremiuml, J~ the case may he:
<br />ill} groun-d te,nts. taxes., ~)~~ssments_ tin: and (\tfl(~r h;il'an! lOStlran("-l' premIums:
<br />(JII) lnte-l't'S! on th<, nnte secured herehy ;,md
<br />(IV) amorhzatton of the pnnop-aJ <It 'illH.:I nl~h.'
<br />An}' defid~n(y In the amount nf an} 'ailch aggfcg-.uC m,-Hltt:!\ payment 5.hall. tJIlJe-SS made guod. hy the Mort.
<br />gJ.!<}f prHJ!" to the due date d-f the next su.,:h p~1\-mf'ld .. (,,;'\Ulutr ;tll c.en: ut Jt.'fau!t under this mortgage. lbe
<br />Mongagec H14)' ~:oUe("~ a '~l;th~ ..:h.Hg~" Hul t~, l'x...'t,..cd I, H.;I ,-,'lU:. '''iI) !,H eal..:h dollar (S I) Of each payment more
<br />tha.n fIfteen (I 5l J;1) s rp JJrcan to (UWl the tXl:ra e:\penie mvnhoced HI h:mJlmg J.eIlIHluent payments.
<br />
<br />1111,.1 if lht. total t)f thf' pll\nu:"flt:'"' mad.' tH lilt, \'orl~:'U.!or uoth:'f of paragraph ~ prtA('('ding ~hall f'xcp.t~d
<br />tht'" .amount of pa~-mf""&~ 4!'l-uaU~ madt-J b~' th.A \ldn,\!:a~('t. fur f!rnund tNtt.-<., tin.t':>" and a~.~"--....,..,me-nL"" or in~uran{'p pre-
<br />mium,.., a..~ tht~ "('fL"'t-f' m.a~ ~w. ""u{'.h C--"~'t.~ss_ ,r the It..klH ,... n.lfr-ent. .]1 lh(' ('1-'Hon of the Mortgagor. shaH be ('rediteu b)
<br />th-P 'IortJ!at:f't. un ~Uh~'qul'nt pa~ m(.nli'" to tw mad.' b\ tiw \htrt!!a!!Hr. or n.fumh.d to l'hp \inrt~all:ot if, hO\,..p.\'(1ror~ the
<br />",onlhl} pa~I""nI" made tw th.. \lot1gilll<t< un<ter " "I fklfal'rapb : pf{"'l-tlllll! ..h.tll no! hi' suHiclem to pay ground
<br />n~t~ UU.{~!< and a-~'"'f>...':"tnf'nt.... Hr m...-;.uraJln.: J)n'nHtHtl''"'. ;l-- tilt' l a.-t' nHl~ bt., ,..tu"o !hp ...amt> ,...hall h{l('omp due and pa),-
<br />a,bJ.~ th"f'n lh-f> \'ott~~01 i<<hiiiJ pa~ to tht'- \~on~a~(~1;' JfH .unouot lH.(.f>......~tr\ [u makt' up t.ht. dehft(>n('~. on or bHfnn~
<br />tht< datt:. ~.h(<n pa}-ftU"'nl ur :-.ut'h ~ro,und f-pnt:>-, t;t\p.... .1~...-...f.......mpnt.. ur IO.....Urann.. pn:-.mlum.... ~hull bt< du\>o H at lln~
<br />hmt" thf' \tortItOl.-ur ...flaB u.f1-nd.~f h'~ lb,- \lortjlagt.p. In i.tn.-urdann' \\ Ill, ltw pnj\ l"lo-n~, uf tit{' not(. ,,,,;p('un.~ iU.lrt~h~.
<br />full p3-\'m~"t of ltit' (.nhft' uHj('>'bh~bH~"""" rpprl''''f'nh~j ttH"f1'b\, dw \IHrt;.:a.~t'P -hall. In t..'unlputlng tht., amornlt of ~u{'h
<br />Ifl\:kbt~~~!lIs, 'llft1-if (0 {fit" al;,"cuuor i.,}f tht \fortgitf(\H ,.ill p.l\ mt~fH' m.u.k lll~kf th(' pro\-t'l{)flS of i.t, of r_Mra~fiolph ~
<br />tlt:~t whi("h Uw \.iortg~^"i' h-<:t'" fi'H tw-""onw Hhlt1!1-i-h"t.t Iu Pit\ tv tht:' ~.t.f1't.tr\ (If Hn-u_""n~ ,mti {rban Dt:'\'{'lop"lt:'nt
<br />and an;- b..d:tlu:t~ ~ilinu\~ in lh~; fund... iHTumul<th~d und~r tft" JH'H\t"'nn~ of of paraCTaJlh ~ ht'rNi-L If .-htsr~'
<br />:4l.JI tK- a df:,fa.ult undpf ;Ul\ itl th.' p-ro\<l"'llm" of lht"'- mHrt~a.-Ct> n'-.uititl1! if1 ~. puh!I\' -ah' ui' tIll(' J.Hf_~ml...t.~ {'OH~H.tj
<br />.U"fi.lob)~ Of if tilt.> \turt.a~~~ anlIHr~"" UW pfU,,"~'n\ qt!H't\'l~., ;tflf~f lit.faull. thp \~tnga,t!t'~' ....h.i.il .tppi), al tl"u' tinw tif
<br />tht' nHnn:tt~nn~"'111 of "'U('-h p-r$;H.-l''('dHl~~. of i\1 tih' ttm.' ttn' prupt'ft\ j... OltWh\i_"" iU'ltU1n'd. thy baJann' {ht-" ft.'main-
<br />tng w tht' furu1:. ~-\..cumuL.u.{~ tmdt'f uf p-"Ui!.gfaph .:. pn'n'd:n~. ,{- ;; l'r4'tht ~aln-t tht. aml.tunt Hf pnfH'lpal lht'n
<br />r1:'fttaHHt~t unpaid undt'f ....uti noh' ,f.nd ..h...H prnp,,',h .ld.lu"-I .un. fLl\m,->nt... "h.tell .....hail h~H' tH'Hl mad.' undt'r ia
<br />,,( paTli/lraph !
<br />~ OM! the \tt}flti4~PI '""Iii r'Q';- ~!nurw ~-<;'nh 1d\.t~" s'-'\("v',,"!C!lI" .....;tcr ~,dt..'" "n-d \flher ~t);'I,.~rnHlt'nt.li 1,\1 mUtllt.:lf\il!
<br />-.:ha.r~~, tlll('-,., l!-; nU~>"itR'fl"'. t\.H \>.ht(h pIn,<r'ookHi h.t'\ fhli t-(-'l;'"H r~ktJ!." hCfcIOhod,I!C, ;.tn~ HI J('f.wh rht"fcilf the- \t\)rt~.,gtt' fila\'
<br />N:.- the '4m~ _ .mJ th~it Irl< \lung..igpf ..... oil pfnmptl\ .ji.~!n.('"! ihl;' ,.tt~...t.-lJ ,("Clf'h Ihndllf h' tht." \1\,n*i1~t't'
<br /><, The- \h).n~vt ~;i1 p..1:1. ,\H i.~nc~ ....hh.,h m.!\ h<- l('-.k"4 Hp',n tht' \lortg,,,tj;et' .. HHcH......{ In \-.UtI n.~.-i; ('''tdte ,-tntl W'IJH'tH-'l."
<br />mcnh. .J.oJ \i.-hli.h m~H ~ k",eJ Uf~}n ftlt" m-t~il~i\~< ,-'-t lh-t' 'l.h.'ht "C'I-we-d ht'ft'h\- ihut ,.nlt hI tot" c\!('nl th~it 'ih.'h ,.. BI,'! pfHhl~H
<br />cd~) ldYo .-t:oJ fln{\ h~ ~hc: ",(enT Ihdl ....;:~d: ~l!i ntH tn~"(' !IU.. ~~'t<ln u..uo:;.;u.,,j h~t l."hhH.hn); .l!H- Hh.:;)lHt' {H\. "'tit{c l"r t--l?\kr.d.
<br />UU~.)'ScJ Of) M('Jf.t~('( ,~nd" ti.l hk the \_~th;. ....,i ~ t"d'lpl '\h\~.... m.,; ..u...h J"'"t\ menl \\ Hh tht. \-h,rtg"l!:CC i p'Hl ldl.)lalion t1f thh undt' I
<br />takmg. ~)r if the \i,l.lftJ;tdi:ln 1', p-t~ll'uhih.~l.i {ll .H\'\o :d\o\ tk'~ IH h-ere.-dh.'! l';"'hHn~ tr.Htl r<,~ml: rh.: Y.hlll( pi .in~ fk,trtmn nf lht' "fon:.
<br />~ld ta\C"', ,-if ufl\.l-n the' n:ndt"fmg ~,f ,,0\ \.'\.t,uf d<.'dee ph'tufltUflJ!i: !he [\.1\ rl1cnl 11\ the \h\ftg.:l~\ll Of .dl} '\Il...h (~He..., l)J It 'Ul,:h 1(\\4-
<br />t}f '.!C\:ftc Pfl.H. ttk... IMr .HI) d-H1.."unt "'0 p.uJ h\ !he \li;lf1#it~~~f ...hAl; t~ ..:r('l,ht('J .In the !lhtrtg~g(' debl, the \t.lrtfr;:.1~et' ..hJI! naH.'
<br />the rtjht hJ gi\'(' nUld) diI".. \4nttt"fl Ol,.>>h.t'" hI the .,"ftCr ~,r th(' fthHt~d~t."\i preHH..t.... rt'~Uirlll~ the r.nment \\f the ml.'fli-:,lgt
<br />debt If 'w..n nnt.k.:'C he ~1\'(m. the ~Hj dt'P-f ",h~iH t'<...lymC Ju<. ro1~ ",Ole i.1oJ ..~!ilc(tlh!C' Jt the (' 'pHathHl (If 'Jld nH1t..t~ da~..,
<br />b Thai 'iohouW ht fiui to p',ii) an} !iU-.1U ,\f l<<p an~ ",'t,t\-C'"n.ant ~'h"IdJeu fpf 10 thh M-nrtiUlK.C. then the \lurtgage-e. .11 th op
<br />fK1.O. ma~ pa,\- vr P<'rfl~nll t~ '!o-<1me. <inti ,:;H ("),p;enJHun~, ....' ma...:k' ,h-'iH be -ilJJt"d to- lhe rJlfh..:m~j Hun f.\qng \)rl the "h,,)\- t' TH'lt',
<br />shan be' ~-\.:ured bete-tJ) > -and ~~ heat uUcre-,.l iit the f~lt' ...er l\lfth In ihe ,,-ud rh.{(' , untd p.,ud
<br />~ lllat bt- h.creb) a;.uiU\, fr.ln~l(H ..nd ~(h ..h'(1' hl Ult.~ \1cfl.g.a.gt,"-C, h~ be drrheJ t(IW.dJ the r01~ menl ,A the rh.tle ,In..i ,ill
<br />'Umj. ~~urN he-rw)' in ;;:a'\t" ()[ a. d-d3U-h In rhe reri"'ifflhtfh.:"t tlt an} oJ! rhc ter-m... and \,:ondnkH\'" ~)f thi~ \"ortga~e l}r the ~.IiJ
<br />oo-t('. aU the fenh-, rt'\'enu~\ 4nd tlli.:-11mc to N- Jcn\l:d (hl-ffi the m..lftpscJ pn:mi...e.. Junng ..lh.'h tunc.n the mortga~(' !Ildl"MfctJ<
<br />R<'s...,\-~} 1~-mam. unpatd, a.nd the Ml.'('{M~c(, ...h.aH tut\t' pV\I;.t:'f hl ..tP-tX-.il\[ .tn~ .'gent ~lf .~~enh II iT'id\ Jt'''llr<: ("r the purp,~",( ~\i
<br />repMrioa: ~ ph:mu.C',"" and of rtnhng lM '!04lf1-\:' 40J ,:ol}e\,'Hfig the fent'>,. rt","'enul'''> J.oJ lOt"Onle. .uh.f it In.!} pfH ,llil ~.lf ,;uJ III
<br />~~:i aU c.'(pC'n.s.c~ uI rc-paulllJ ~k1 pl-enu\e'\ ..nJ fle~:c:\-~) ~lallm}~S-lvn" anJ t' \.pen-"e~ m...:urtc-J In tenU!l1( ~il1J m~-H\~!t:'ng fht'"
<br />~.me and of Ct.Jlle<-tm, rental:;. tberrilom-. (he batUlCC remaining, if 01-0) > hI tk: dpp-hcJ {\.i\l;-ilrd the Jl'~..:h~H!t(' ;)f \-illd nh)rl~;tge
<br />i~\Cdnh~
<br />8-, 'Tba1 be wllt k<<p th< un-pruvC-melth 6'0\10 C-J..htms. \Jf h<'-reaUcr tn:~\.'teti t)n the mortgaged property. m'\Ufr-J a... m.H ~
<br />ft-4wed from tun,e h'l lime r.~ the- MonP-!t~t' ~tgain;;,t Kh_' l'l-.. tlH' .lOa (~thef h.i.il...1tn.!..., ":~Is.uaJtie... ,Hh1 .....lrlHngentle'\ HI "j,h.-h
<br />atf.tCQm.j. and lor ~b pc-nod\ a'S- mal' be fc-.quue-d b) the Mtirlg~e'\~ anti ~tll ra~ pf,~mptf\- ""hen Jue, ;,.:n~ premium, tln "ll\.h
<br />t~ Pf\1"~ for pay*nt 't-tf whi4:h ha-_\ 00{ t.ren m4dc ncremN-fl..)fC ~H tm.UTao\,e "ltafi ~ ,,,::iHI(.'J 10 \..nmp.!me' ;lP
<br />I>t<),,~ by 1M M"rtpiu and II!.: ",,!lci<:_ .ntl ,cnewa" thae;;.! ,h;,l! br held l->, tn., \hlHj(agee 'HlU h,,, e "It"d,e,l 1I""el.. I""
<br />....y'abk \::~Ui~~ in t<<\fur ,){.oo m '()1m OJc\:.eptahk 11..-, the Mottpgee In ('\.e:nt ti-f k),,'!, Mnn~alt'~f v"til gl\e Jmmt'JJ;de nHth,,'l' t>\
<br />nsa.IJ 10 _the ~> wbt..\ may make pt\xlf of kl-S~ if not maU-c prnmptt; h'f \h>>titi.4t:Uf, .HW t><h.-h w..urafl\'-t.' \.'tHHI~~lfn ~tt.n
<br />__ ili heroin)' lIlIthol'iomu and dire"led It> ma~e pal m~nl 1m "",b k.., dlre"ll, h) the MorQ!;i.g.< lU,le~J "~I 10 In., M..\ng"~,"
<br />aftddlol. M~ jtJintl" \l\fid lit<- ,"_urlilKt ",,,,,,,,,,h,.ot dn} pan lhert"C It"'} be "!,phed l>y tbe \h'llll"gct "I If; "pll"n elIne'
<br />Iu 1110 ~"Uott <If tile ~dntru !lerro} ...nlfW ,t< I" ''''' r""llfdtton "If repau "I In., !,r,)f>t'Il' dam ailed In e\l'111 .,1 !.'red.,
<br />~ of daB -'llPl'If "Iher U'lIn.'IlC'f of tilk 10 lbe ,""lflJllllW proptrt} III e'llngu"hm<nl .,lth. Itl<leblednc" ,e, ure,f hel "b,
<br />aD "'1... tilk And mtt--f'tll \)(' the .Muft~ i-na-I'k! ti.'t any int..Ufiiuct: p._"l!i-c~~ !h<-n Ul fnf\:e ...._h.~H ra...-. It) th.... PUr-.:h';'l"t'f "-H )..-ri.tntet
<br />'J, l'tdl. ~~.oo ,uUateraJ ,~Ufil) hn the p~}rnCo.i of the n01(' de(,~nht:J, ;jo,d AU "urn, h" tx-nm\C' due under Ih"
<br />~. the ~ berl'b} lJ.nijpl' 1,-) the Morl~e .Il I'follh. le'cuue>. ""allie" right> and bt-netih ;;(u'''n~ ". the
<br />~_ ~ $")' M4 .n utI and I'l'" ~a~~ U'U wid premt~lo. with the nt;h-t h.'! H?~ei...-t; .itnd fe,,:eJp'f fn! t~. ~.J.m-t iHltJ .tpp!\
<br />~W _ ...btt!4_~, '" ,,'<!ll her",..,.. "ftt, debull III Ill<> ~",l<l;!<<"" "I thi, ""'r!1O"F' "n.) tn., "h"'s"",,, ttla' d~t1larl,L 'u,'
<br />'Qt ~ ~v\'tt .-.,. ~h P*"t-m\7nt~ ~'twn duf' and pa.~a.bk. hut j~l rn:n he f~q~"-r~d "-f; \'i''' ...h. rht-\ iti-!';,tlflm.t-tH p, h1. ttrrrHn~lk
<br />W t.titt>U'J<! mill AA<l ~,...t 1IN,1\ !Ok"',\( <}[ It!), ''',It'UW/'I:
<br />
<br />I.H;D~;14,H"" !~~ }Yl
<br />
|