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<br />83""""W4258
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<br />(I) month prior to its due date the annual mortgage insurance 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 Aet. as amended, and applicable Reguhltions thereunder: or
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<br />(II) If and so long as said note of even date and this instrument arc held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in lieu of a mortgage i1/surt1l1ce premium) which shall be in an
<br />amount equa! to one,twelfth (1/12) of one,lulf (II2) per centum of the average outstanding balance
<br />due on the note computed wilhout taking into account delinquencies or prepaymenls:
<br />(h) A sum equal 10 the ground reots, if any. next due, plus the premiums that will next become due and payable on
<br />policies of fire and other ha.t.ard insurance covering the mortg'lged property. plus taxes and assessments next due
<br />on the mortgaged property (alias estimarcd by the Mortgagee! less all sums already paid therefor divided by t.he
<br />number of months to elap~ before one month prior to the date ",hen such ground rents, premiullls, taxes and
<br />assessments will become delinquent. such sums to be hdd by MortgJlgee in trust to pay said ground rents, pre,
<br />miums, taxes and spedal assessmems: and
<br />(e) All payments mentioned in the two preceding subwctlOlIS of this paragraph and all payments to be made under
<br />the note secured hereby shall be added to!!\"ther. and the aggregalt' amount thereof shal! be paid hy tbe M\>ftgagor
<br />each month Ul a smgle payment to be applied hy the Mortgagee to the following rlems in the order set forth:
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<br />0) premium charges under the .;ontrat.-t uf inSUfaIKC WIth lhe Set'retary of Houswg. and llrban Development,
<br />or monddy <:harg.e (In lit'ii o( mortgage llHUftlft(Y premium j, a~ the G;JSC may be:
<br />(IiJ ground rents, {;,xes, 3s.se'iiS.m~nt~. file ami nther hazard inSUrance premiums:
<br />(no Interest on the note- secun.'d tH~rC'hy, and
<br />(lV} amortuaUnn n1' {he prindpaf ()f said ntlk
<br />Any deficiency Hi the 3Hl()urlt of any su(h aggregale m,tllthlv pavrHi.'l1r shaH, unks.1i) made good by the: Mort.
<br />gagUf prlOr ft} thr- due- dafe of tht.~ ne'! .;;.uen p:J;.nlcr,l (t_.Il~tHH~i.' Jll l'Vt"rH l\f dt~fault under thIS mortgage. The
<br />Mortgagee m.ay UJUect a "late (hJ.f!{e" ant itl t.>X(('\'<.! f,:,:! ...:cUb (.Jj{1 lor l,,;'al.:11 dollar (51) of each payment more
<br />than fifteen t 15J dJYs. ltl aue;:us h) Cuvel tht' eXHa e:\pt'n~ mvolved In handling deJmquent payme,ns,
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<br />:\. Tnat it th" total of tlll' pa\m"nt~ mad.. hI tt,.. \lMl!!"!,,,r und,'r " uf paragraph:! pft'n'ding ~hall "\""I'd
<br />thtl .amount ot paym-ent;<. af'lmdi} mad(~ h} dw \lo,(1l!aj!t'.p fhr !!Ti:)und n'nt~. t~l'\t~Y-" and a~~p~~m{lnt.s or in~uran('(1 pre.
<br />miums, ",. tlw ("a..~.' mal I.... ~u.:h excess, If .he ioan Is current, .H lh. option of the ~Iortga!lor, shall be credited hy
<br />th~ \t{)rl~ii4tf.'l('> on .,",ub~c~qu(~rtt p.a~mpnf,~ lH ht. mad.; th dw \tortg~~Hr. or n.fundt'd lu thi' "()rtg-a~nr If. hOW{\Vt"f. the
<br />monthly payment.s ""Ide hy the !lltv,!:agor under "t pMa"",p" .' prt'Ct'tll1lg shuH nO! bt' suffiCIent 10 pal !(fOund
<br />f(tftt, laM,"'" and a.~~ift.~"I.ttwnL.;,; or In.!"'uran(T p'rt.m2um~. ;t,.... lh.., Lt....;.' ma~ hi' \\hpfl tiH> ..;a.mp ...hall hpl'onw duro and pay-
<br />able, tht"n th(~ \tortR~Of ~halJ pa~ tn {!w \"lnrt.gu,jt(-"t:. an~ HmdHnt rU'{.t......-dr~ in mak(' up tht.. d{.fH'ipn('y, un or bufoft.
<br />th.. tI"", "Iwn p"ym..rH of -"en j(l1Juntl r..nb ta"'-, J.--",.m,'nt' ur rI1-U"""" p"'m,um~ "Iud I I", due, If at all)
<br />Om" (h" \/onj1ajilUr -hall tmd.'r to Hit' \Iilfl~"jI"'" ." ,,,...ordal1co- '" th II... pnH L'lOn_ of th.. nnt.' 'l'l'un'd h.-n'o),
<br />fun paymt~nt uf th~ f"nt,j.H' md~hu.dnt'~_... rt'pf(':"'ot>nted tJH'rt'h~, lht' \lnrteilf(';' ,..hall. in UU1lpUtlUJt; tJu.' amoun1 of :o'oueh
<br />lOJt:btt.,int.'Ss, t'ta:itt ro rhe .d("("uunt 0.1 thE> \1oflp.gor ,dl p.t; i1lt.-nts nt,kit- uil~.kr rht. pto, 1'..1(lfl~ of f d) of para!lri.:lph 2.
<br />h.......)f whu'h tI... \1ort~lI,I!t"" h.." nol bt'u.m.' noli>!al..U In P;ll II. Ih......'.'''.ta'' ..I lIou~rnj( ,tnd l rhlltl lkvclopf1ll'lI!
<br />iUul an~-' baia.1t:e n1btumnJ: to th(' fund'" ~HTU!'~'mlah'd ufHk-'r Ii\{' pnl\ t""lon:- of of r13.nii!raJ,h := .h'~.f. If tht'fP
<br />shaH bt.'" a. (,h..fault und...<r iUll III th-t;' prO\,...jHn"" of !.til.... IT!Ofli!;J.;!f'' w....u!Hn~ in a puhi~t. -alp of th(' pn:'mi~.t..... t:o\'t'rPt!
<br />hfftl'b-) " or if tht~ \lort~a.l:t*..~ arqul"~~ tilt> ~ttllJU'ft\ uthpf\..l......' ,dh.f d('f.w!t. tilt' \fnrt,t!aJ!pt. ...hall IIp.)i}, allht, linH' Hf
<br />tftP n)mmvnt't'fftt'ffl of ....urh pfO-('1.t.dlft~~.-. I.H 4t tht' linw tht' JH'i~~~-t'n\ j-- illh"'f\\ I"'t' ;,u'4lUft.d, thp b~\lafH". tia'"n f('main..
<br />m~ Ul tilt" funo;"o ;.t~.Tumula.l-t'ij lJnd,,'r of p:Jraj.traph :. pn'-{ t,>-tiIO~< {i~ ., ('({'dd .ts.!Mn...t till' .MTlUunt of princ:ipal tht'n
<br />n:"atpjn~ unpi'iuJ und.?f .~aHi tH.th;'>, ..;1l}d ;.;hail pfUpi~i'h ddpJ:-t ;lrH ~uHn.en(", \\hu'h -haJi h,tH' h4:.t'fj "lad.., lHU..iPf fa'
<br />uf pll.t~tllph .;,
<br />--i 'Jbat fhe \h~rtt:aSt1f v..di r~i\ ~J<."~untl o',cnt... t,I\t"'- ~1-:<"C""~~lCnh .\_:\ct f,ttt:..,. ,ind ~lth('t g~)\.(,'ffimCm~i! ,.If munl(jpal
<br />I.jl>.irg(~, firw:'~, ,,\f lmpt'.Ht.lth~f!'\, liH w:lulh fH~;"h!t-"n h..t... ltP\ flt"t'n ~H.td:( h("h,-liit"'thtlt', ;'Hid Hl JeLwlf fhcft.",t{ Ihe M()ni!~t1>lt:e Ula\
<br />p.h the> 'X.tme. aflU that rhi.~ MHn~~Ui .....iH pr\It'Hpth Jdl\t! lOt' Ilrfh.Mf ji';'l.("iph rh~ld<\r h' tht' \tur1g.~lge\."
<br />"\. '1 he MVfl~~1.1r 'IIo-til r~l~ .J!! t~n,e" \oli.hh;h m.tl he k"'iC\~ llj.....:n !ht' \tt)n):.~gtc'... H1t(,.((',t m .....li,l fe-,ll ,,'\IOfte ilnd lmph)'n:
<br />Iltcf1h, .-00 \\tud'l m~~ t't' l-t'''w,i Ulh,lf! tlW. H;1,1f!Ki;s:.t;< ,~( the ,.k,"t ,,('.. Uft.'J hc"fd~\ ,Nit i.lnh h~ the e\teHl tlMt "'\h,,:,h 1" nl.~t pfohlhlt-
<br />cd b\, 1a\\ .;>inJ Hni~ !., !he:- c\tHH Ih.it ...t....h "'l!l i!t;~ m~i.kc lh... f'>'lil \.I'llfh'u,\i, hut t:\LllHill1~ .Hl~ mr,:\H!l{' 1.1\, Statl' or Fcdtfai.
<br />imp')\c>\$ on Mtlfls.~"t""e, and \4 ilt hit' ifte \)th'd.ll r<.. cnpt ...hth', ln~ '>tho h p,..j \ fl)(Ht "" lth lhC' \'IHtt!t~-t.itet' {, pOll \ to!il(lon tlf {hl\ umier.
<br />tak!fiM:. (tf II th< M,lfl~g\H to" prlltut'rtteJ~? .i.O\ b~ fh'l\~ .11 h<'f('-",ltcf e\I\11OJ!t frtl!l~ p.HWg the v.t&~lk ,It' ,dl\" (,\\'flH.1n {)f the ahlfr.
<br />~ld ta.\C':.. Of U~XJn the- r('nJ'fln~ \11 .Jn~ ',,;oun ~k""n: rh.hthJtin~ the p,l~ffH:'fH b\ the \h1rtgagvf I,n .W} I,th:h fi.\\t.:'~, Of it' "Iu.:h hl\"
<br />.\f Jecree phHh.1e:.... thai J.n~ JIlhlunt .......) l)"..ud to\ the \h"lftg;.t~\.\f ,h..tl! he ....'nlH('d ;;ltl [ru.~ nh)r!g~i,gC dt'bt. lht' \hlrttjltgee ,hall h.\\c
<br />th< right hl lU\'e mnet\ J.\l}"" - \\ lJ1ten Ih.Hh.:": Iv the i.1~ 110 o.,'f tht, nh)fl~!l(:".d pfemJ"'C~, H'tiul1injt the p..n mcnr ~Jf the mortgit!{C
<br />dt"br If .\u~h nO{Kc be gl\"Cj'L the ,.lId dc-ht '!-h..tiJ ~(\.lmt" I.hi(' f',l\ J.pIc ..tnJ I.;~Jil('dit'\1-t- dt the ('\rtr~tt"'.Hi '-If '~liJ nlnct} d~l,,,
<br />~. Th~t ,twukl he- f.ui h) l'a) .an~ "\um l,tr "CTP ~'H\j ..'(I\~tJl;,mt pf\HiJCJ hn In th...... "hlugage, then the Mongagt'<:,. .1111', \.lp
<br />lion. tl1a} ~y of' flCrtonn lhe \ame. ,m.J;.tll ~'pc{'HjHur(', :..~~ maJ:c :'lh.t11 ht: d(hkJ hl the prmdpal 'Ufil ~)wlng lH1 tht: ..ho\-i;' n,)lt".
<br />~b..H!x ><<Utct:lltereb), a.w ..naJll>ea.r U!tcre,t at tile ",te ,ct torth m tbe 'alu note, until paid
<br />"'] That he M:fchy a!'.SI.gn~. tran~fefS ~-tn~ '>t:'h \)\('! {u In< .\h)f1~ce. h) t't< .:tpphed h~~ard the- payment (If the o(lte .Hld dl!
<br />'\.um....'\ ~cured f\efch, in ('.oli(' t..}.f ;;I J('f~u!t in th~ r.<rfonn4n\:e .A an) tJt Hk' term:.. dud ~Hnditk.)n", ~)f tht... Ml)ng.~gc Uf th(: \i.1uJ
<br />note, aU file rent,. r-(~t"nu(,"~.:irW JOC\.)cffi(: h..' ~ Je:f!"cJ ir~Hn ~he m(l-fIp,gcJ premis.c~ during ~u~h time ;l~ the mnf1gage tnlic'hit.'u~
<br />nc~~ siutll r~nuUn u.npiUd; and t~ Mt.\(tia,ce ..han ha'H: ptt....t"f h.\ arr;;)im :.1oy dgeni l)f agenb II ma} J~~H~ ft.H the pUrpth~ \11'
<br />fe-paif.in&. s.ahI pf'emi~-,-. and \}f rentlna the '\Mne .arW: ';t";Hc.;:-hnll: tnt' ;'('Ph. f{'\r;nu("". ,Uh.1 In...:,'t-!l:lC and It mi.l) p.l), ouf iJf ,;,aid III
<br />COtll.C). an e,1pen1>C',j nl rcpairm. saW premlSC!>. .:dW ~C)~l, ())mUUSSWH). and e\pcn~e,..,. uKuffed In n.'nlmg .mJ m;tnag.jn~ the
<br />"lime l\lI4 01 ;;ollcctillg rental, therefrom: lhe haLan"c remainios, It an,_ to 0.: applied w"ard the dis<hargc of ,aid m..rtgage
<br />t.wd,\Cd...""
<br />II In.1 be ",ill keep In., impr....elllellb IK'" "xi,tlos or u..,re"ft"l ere..:red on the Illongal!<'d ",,'peny, in>lired ", rnu, be
<br />requ.tr~-d fe-om time to t.me h)' the Mtlft~c- ~m~l lw'!~ b, fire and \Hher hi.1.l..tnh, (,i...uahie~ and >.'ontingt'nne'\ in ",u\"h
<br />3m~U 1'00 t~"")J' .mch, pt:riod~ it, I1lilY he required b)' the M~\rtgagee and v.-i1l pay p"nmpt1~, \"hef! due, ;Hl~ prem.ium:-. i.ll"'! ~lh.'h
<br />iMUfIift!)C! pro"W\m fot P'lf_nt .,r ..hidt has oot !xC" m..de hcrein!>dur. AU ",'uran,,, ,h,,1/ 0.' ,,,rflcd in c.'"w"m", "1'
<br />PfQle4 by tile M(1t1~" a.w tbe pvlieie. a.w rcnc"ah tbere\,t ,hall be held b, the \l(\flg'll!ee .md hi"c ;rfladll'd thclet.' r.",
<br />J'II.yabk clauses in t""Of' of and in f",m accepl"bk '0 till' M"<ll!i1gee, In CH"lt e,f I"" Mr.tlgill!\\f ".IIj(i", .mme,hale "otrc.' 10,
<br />~il t!>~~, who may male PIl",t of k", ,( nc'l made promptly by \lnrrgagor. ;rnd "Heh m'urarl(< (,'IDpan, <tlfl
<br />"erned j" ~y auillonud and dUl'<i:te,j to mak.e palment. ("I "",h InS) Jitcl't!, tt> the Morftlallee ,n,tead 01 to the MortS"!!'"
<br />aM llw M<rtt~ joinily, and tile in,uf"nce pn>ceed" or an) part tbelNr. ma, be "pphed by the Mortgagee ..t It, nptrOf\ ellllt'r
<br />II" tM fC'l'illl;1iua t4 the ifldeblrdm:n berc;cb} S<<1lI('d .>1' to the re~toratitm or repair of lhe property dam;q;e<J, In .'vent \)f fm",li.,
<br />~ tlI~ ~ Of otber tfillufCf llf title tn the ",Or1l1aged prop<:rl} in e<tingui\hmelll uf the m<.lebtedne" ,,,,wed h.'rd'},
<br />Ill) t_. ti!k lI!ld itU"!l'M uftbe MQf~>r In aM 1<1 "o} in~lIr"n,,, "oliei<', then in fone ,hall pl'" to the 1"lIdl"",r Of ;:'''''1Ie,
<br />it 1'boroI u lkiditk'i'W "'"' ,,,Ilalclll! '<!CUtll}' lllr tbc p"ym..nl "f the nllte d""r'~<.l, and ill! ,urn!> 1<1 be,,'me due unMI tbl'.
<br />~1APiP, the M<<~ hefeby "";,n, 1<1lbe MOf\jl"'...., all profits. le'enue" r"i'illtl'" n!tht, and !x'llefll, ;":C'Uing h> If1l'
<br />.~~f4t1y iIIIIl 011 tlil and jll>~ lea,\(!1 "n ~ premi,e" W'lll lhe fight to te,,;"" '<11,1 reen!'! 1m the ""ne al>J "1'1'1,
<br />Itwlll> "" uW ~dllle~~.' ..,,11 helot.. ", ..nel "'"ull ill t~ mmliIWf\' ,,[ this !fl'>flgallC, ",.,d the Mong,,,,ee Ilia, demand. ".e
<br />fut MIl tJ:"""el lifIy ..,;;11 /.'lI'}'lWnt, ...!u:n dIM.' <lnd I"'y&!nt. but ib;Iil I\.'}I he teGw<<d ", tn d,) ,{,1\j, "'''ltnm<'fIl " '" t,'",mutt
<br />_ttt"!/'I!IUt mill ~ ',lld l<1l<'" (('!~..,l;t' of llli~ m,'fIMU
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<br />Ht<"~l~~;UM ~j'
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