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<br />83- 0 0 4 2 O(~ rn"ntb prior to ils due date the annual morlgilge iO~IIr;JIlee premium ill order 10 provide ~ueh holder
<br />with funds 10 pay such premium to Ihe Secretary of Ilousing and llrhan Developmellt pursuant 10 lhe
<br />National Housing Act. as amended, and applicable RegulatiollS therellnder: or
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<br />(II) If and so long as said nole of ev...., date and Ihis instrumenl ale held hy the Secletary of Ilousing alld
<br />Ulban Development, a montbly charge (jnlieu oJ" a mortgage insurance premium) wbich shall he ill an
<br />amount equal to one-twelfth (1/12) of (",e,balf (1/2) per centum of the average outstandillg balance
<br />due on the note computed witbout taking into account deliuquencies or prepayments:
<br />(b) A sum equal to the ground rents, if any. nexl due, plus the premiums that willne,.t become due and payable nn
<br />policieS of lire and olher hazard insurance cr>v.ring the mortgaged property, plus taxes and assessments next due
<br />on tbe mortgaged properly (all as esrimated b,v Ihe Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such ground rents. premiums, laxeS and
<br />_smenu will become ddinquenl. such sums to be held by Mortgagee in trust to pay said ground renls, pre.
<br />miums. taxes and special assessments: and
<br />(e) All paymenls mentioned in the two prec~dillg subseclions 01 this paragraph and all payments to be made under
<br />the nOle secUred hereby sball be added wgether, and the aggregate amountthe,eof shall be paid by rhe Mortgagor
<br />each 1II0nth in a single paYlIICnt 10 be applied by the Mortgagee to the following items in the IH'der set fnrth:
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<br />(I) premium charges under Ihe (onlf""t of insurance With the Secretary of HOUSing and Urban Development,
<br />Of monthly charge {illlicu olmorlKojfr iflsurance prNrliumj, as the -case may be:
<br />(11.1 grmmd rents_ taxes, assessments, Ihe and other hazard IIlsurance premIums;
<br />(Ill) Interest OIl the note secured hereby: and
<br />if V) amorlltatlon 01 the prmclpal of ...,id note.
<br />Any deficiency in Ihe amount of any such aggregate month Iv payment .tlali, Ullle.S made good by the Mort.
<br />gag!>r prim to the due date of Ihe neXI ,uch p"ymelll, ",I1Stitute an evellt Dt default II"del Ihis mortgage, The
<br />Mortgagee may wlleet a "late (harge" nOI '" cX(eed {uUl ,,'nIS ('Iv.! lor cach dollar t$ I) of each payment more
<br />than fifteen (15) days'" aneats to co",r the extra expense mvolved in handling delm'lucnt payments,
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<br />3_ 'nUll if d.., wIllI of Uu' paY"'i'nt" ",,,d.. hy Ow \lortl!a!!or und", / of paragraph ~ p"'eN!ing ~hall 1',cl'I'd
<br />the amount of pa~'m-fl'nt..-"! actually made by th{~ \tor~a~t.... for Cfounu H'nL;.;.~ t!1Xt~S ami a.sS("!"lsmenL'i or insurnnc..l pre~
<br />miultls. "s tj", ,'as.. Olav bl'. s..eh e~c<'''s, if ,he loon is currerl!, ,H Ih<: oplion of the MOflgagor. shall be credited by
<br />Ihl' \lortgall"I' on Sub~qll""1 paym""ls 10 I", madt, Itv II... Mn't"u~or_ or rl'fundt.d tn Uw Mortgagor. H. how,'","r. tile
<br />""mthly l'llympnl.s _0.. by tltl' M<,)flllagor under {i,j of paragraph! preceding shall nor be sufficient to pay gr<;IlJIld
<br />rent, taxeR and U8@'!li;$mMis or insurant'{\- pf~~iu-m~. ;};'j UU! nL""t;~ nU\~ bc. "hen Hal- ~ame to'hall become due and. pay..-
<br />able, lbt>n tb.. ,\llIrtg"l/;Of shall pay 10 thl' ,llIrtga!!",' any amount ll<'c"~"a,:' to makl' up th," dt'fir:i"Ilt.y, nU or bl'fore
<br />!hI' daw whell payrn(<Ot "f stICh /l:fOund f\'nts. taxe". ass"""llwn!s or insuran,'" premium" ,.,hall ht.. dlle. If at any
<br />time the \llIngllflOr ;;ball t,mdt'r to ibl' \lonl("ge,", in a",'oroan"i' wiO. Ih,' proyisions of thl' nole "",'un,.! hl'rt.by.
<br />full flllyment of Ibe ,"ntire indt'btmln",," ff.prt.."....nt<-'lllb"ftlby, Ih,' \Iurt!!"lll.... ,hall. in n>ml'uling the amount of slIt'h
<br />indebtedness. credit to the "r:cnunt 01 the Mortgagor all {'''V!llcnIS made under the prO\'lM(mS of (oj of pal1lllwph 2
<br />beroof wltit'b Ibe Mort!l._ h.... nullwcoltl.. obHgltt"d In IlllY to tin' ~cr"lary' M lloll"ing and Urball Development
<br />lUld lillY' halam'.. remainilljt illlbe luno" "cellmlllall..d und..r thl' ~rr..'bions of t hi of pllf'..t~f'J.plt 2 It..r'~(Jf. If tbere
<br />;;ba.ll be" default undl'r MY 01 lit.. ptuvi"iOtl" nf Ihis mortl(a,:e ,,'''ulting In a llUblk ~all' of thl' premisl''' ('ov."."!
<br />hen<by, or if tit.. Mort!l.llI\l'<' ""'jUl"''' Ill\' prop".!y o.h..rwi"., an,'r dl'fault, II".. \k'flllaj(t'(' ><hallllwly, at Ih,' lime of
<br />the l'll_ene_enl of "lien procet1dinl(s.. or al th,. tIme lb" pr"I'''rlJ .~ nlh..rwi".' al'tjui,,;d. 0", bala",'" tiwn rl'tllain'
<br />in!! in thl' funds aeellRlUlilwd under (I,! "f par"l(ra,.h 2 pn."..dlll~, a" " n,'oil '4!,ain"t lit,.. arnounl ..f ,,,ind,.a' Illen
<br />t't!ftlaininllullpaid under Mlid not.... ami i'l...1l 1'.....1...<1' ad/u'" "'IJ "aymt'lll," "hi,'h "hall h"VI' b...,." mad.- und..r I al
<br />of pantj(rllpb '2,
<br />4. ThaI (he M(Ul~ag\,lf win pa)' gH1UnU rt'n\~, lA.:(("", ;nw...,menh. \.\ittel nite-~. .in\i nther ht~\'efmnen{at or llIunkip:aI
<br />dwgt'5.-" fincs~ ...If im-pus.itiUfl').. (vr whh.:h VJovt,i...m has Ht.lt t'>Ctn m~ue fll:teinPe{lHc. ,lOti in Jefault lht'"reu{ lhe- Mortg.agee may
<br />pay fbe SJlln~; and that the MOIIll"I!',lf wll! pmmptiy de/""r Ihe ollie.al '"'''1''' II<<:r<lO( tll the Morlllugee,
<br />5. The I<lol1gugt" wd! ray' ,,!ll",~e' whICh fl\<IY be !ev<<:<l upon lhe Mortgagt'e', mINot in "lid real e'lale and Impruve-
<br />ments. and wbieh lOa) be In..d UI"'llth>> lflorlj:aK" ,If I~ deN ''''''lied hereo) lbul ollly to the e>lellllhll\ ,nch i, n," prohibil-
<br />ed by law and only to the- (',-tenl that ,~u\:h ~<iU ffiJt flttJKe thl\ luau U:>iuriousj. hut C':\dudiog .1ny t>>(ome ta\., State ur Fedefitl.
<br />imposed "n Morlf,llgcl!. and ...111 file the olficial leni;>l ,howing ,uch pavrnel\l WIth tl<<: MOrlj:a/lee, Cpun vi"llltmn of tlu, under-
<br />lakina.. or ,f lhe MOftgagl.lf i, pltlhibileiI by any Ill" 11.>1' '" l..leafler e"'lml( tWill P"vllll! the wh.,le or afl) poru,>o of the afore-
<br />SllW t.axes, or upon lhe rendering ota..} courl <kne. pfllhitnun/l lhe pnymellll" the Mortgagor or all) ,oeh la,e,. IIf if ,ucb law
<br />or decree provides lhalaO)' anwlHlt '0 paul by the Mtlftgagor ,hal! be ,redlled ,m the motlg;rge debl. the Mortgagee ,hall have
<br />tlM righlto !live mnel) Jay' wrillen ""lice to lhe owner ,.t the mongagerll'renll,e" f<tj(uring the payment ot lbe mortgage
<br />ddtt, If web n<.uce ~ given, the SliW debt ,hall become dUI!, pa)aNe .nd ",Uedlblc atlhe e'plfaUon (If ,aid nlllet) days,
<br />n, Tilllt should be fllillo pay IIny ,um Ot ~eep an} '-'o"mant pnwlOed lor ill this "''''tgage. then the Mortgagee. at it; "1'-
<br />tiun._y' payor perform the &arne, and all e'l'I!nJitwe, su made ,hall be added to tbe prindpal ,urn OWlllg (In the above note,
<br />shall be sccure,o herehy, and shall bear inlCre.1 at tile rate set lonh in lhe ,aid "'.lIe, unlil paid,
<br />7, That Ile hereby assigns, tran.lets ami set, llVer to the ~1orlgag"e. It< be applied toward Ibe payment ,)f the nOle .iIld all
<br />Wlll$ lie<:tlTl!d hereby in case of a de/aull in the I'I!rlormance 01 a,,} of the lerms and condititHls ot lhis Mort!!,lltte '" Ihe ,aid
<br />UQl(, aU tile tents. revenue, and illt-..llne III be deri\'eO fromlhe mongalted premi,e, during such time a, the lIlorlgalle indehted-
<br />_;;hall remaill lInpaid:and the Mortgagee ,hall ha\'e ""wer Illapp"i"t any agt'IlI0r agenl, i.t may de, ire lor Ihe pUl'lw\e I,f
<br />r~ said pumises and of ren!ing tbe ;.a.me and colleclinlllhe rent>. revenues "nd income, and it may payout 01 ,aiiI ;n-
<br />~a11 eXl'l!ft~s of repairing ,,"d premise, and nece>sary commission, and ".pen,e, incurred in rerlllllg and managing the
<br />same: lInd ,>I collectina rentals tllereiNm; tbe balanu remaining_ if an), to be applieJ to...ard Ih" dischaflle of ,aid mortgage
<br />i1'ldehlc;dness,
<br />It, 1'bal he ....ill keep the impro\emenls now nhung or hereafter erected on the mortgaged prop"ny, in,ured '" may be
<br />reqQjr'l'd irom time to tiJm: by the Murill"llee against loss by fire and other hazard" ca,uaUie' and c\l\ltingencie, in ,uch
<br />lilItQWlU and fur SlICk l'l!riods a, may be tequiIed by lbe M{)(lgagee and .....illpa} I'ftlfl\ptl)'. "hen due, allY ptellllUfl\S on ,"ch
<br />~e provisiml fur payment of ...hkh ~ IlOI been m.."e hereinbefl>fe, All ""uranee ,hall be ""ned In .:;ompanie, ap-
<br />proWld by the ~e and tbe policies ami rerlewab thereof shall be held by the Mong;rgee and have alta,bed thefero 10"
<br />piIly~,,~s in fllvllt of and in form acceplable to tile MOlf&al>ee, In even! ,,110" Mmlgag,)r "ill give immedIate notice by
<br />_ ,(0 the M~. who may' ma!;" proof Q( loss if IlOI rnlKk promptly by MOrlllllllV!. and each in,urance company' .::<'11'
<br />~ it he(ebf llUJIloriU!d and direct'l'd 10 make pa)me.nt for wch 10" directly 10 lhe Mllrtl\lll1ee in,teall ,.f hi tbe MmlW'Bt"
<br />_u. ""!JIlpe'jtlially. and the insuntlKe prO<.'t'ed.., Qf any pllll tooreol. may be applied by lbe Mortll"gee at Jl\ ,'pt>r'n eltber
<br />mdlli t'el!ut" III thlr..tNkb\edne., hereby s,,<;\ued ('[Il' the re>ttlfalion (Jf repair of lhe property d;IJIl"i/.ed, In ,'em ,.f fmedn
<br />wfcof {)f tllhcflral'l1lfu Dr litIe III the mtlftpaed properly in exlinlluishmentllf I,he indebtedn"" "cured hereby,
<br />l'l!lfl <If t&'" Mi:lrlli\ll..... in and 10 allY inlllmnce p<l1i<;ie, loon in lor,e .hall I'"" ll> the pUI"h",er or Iiralllee
<br />and ~Illlllliiil s<<urity rill the pllYlllC1lt oj' Ihe nole de;,cribW. and al1 'ums to hewme Ju...",der Ihi\
<br />~"lhe M~!t llctdly llOs1pH<> the MOIl.PI\e"all prOO.ll, reven"e', wyaltic" fiJJht> and ben.fih ",,,uir'lI 1<- fhe
<br />.~,~.~' 1llldlllllJilllnd lIIl' I"",..". \Ill \i\liil pfWtbe.., with tile ril1hl to rec",ive and le".ipt fOf ,he ,,,nit allll ;(rr1)
<br />"to_~:itS welf bdilf1.' "~'"Hef .tebuhir.llwc.>l1<Illro.n,,( Ilti. ""l(I~. "mI ,he M"rtga/iee may tkm.",.!. "I<
<br />f4l'*r<<~v4!1&11'l' tl!cltPllyLMnl' wblmdttt "il<Il'''y'i\bk, bu.1..hllli not be ...."ired \I' to do nm .",ij;tnmtnt i, rH INm"'ale
<br />lIItlI ~fIllI 11M ",<W \lll!.llI ",\taW,(.! _ rMIltJlllli.,
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