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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 SecretaIy of Housing and Urban Development pursuant to the
<br />National Hou.ing Act, as amended, and applicable Regulations thereunder: or
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<br />r0- C')
<br />i !'-
<br /> ~ (b)
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<br /> 1
<br /> ('l")
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<br /> (e)
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<br />(11) If and S9 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 mortgage insurance premium) which shall be in an
<br />amount e<jual to ooc.twelfth (1/12) of one'half (1/1) per centum of the average outstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments:
<br />A sum equal to the ground renu. if any, next due, plus the premiums that will next become due and payable on
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mort8"8"d property (all lU e<li_ted by the Mortgagee) less aU sums already paid therefor divided by rhe
<br />number of months to elapse- before one month pnor to the date when such ground rents, premiums. taxes and
<br />aSleSS1llents will become delinquent, such sums to be held hy Mortgagee in rrust to pay said ground rents, pre.
<br />miums, taxes and special 3S$essments: and
<br />All payments mentioned in the two preceding suhsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added tt>gather. and the aggregate amonnt thereof shan be paid by the Mortgagor
<br />each month in a .ingle payment t{} be applied by the Mortgagee t{} the following item. in the order set forth:
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<br />(I) premwm c.harges under the C\lotract of insurance with the Secretary of Housmg and Urban Development,
<br />OJ monthly charge fin Ut'li of mortgage insurtlnce pN~,mium J. as. the case may be;
<br />(II) groun-d rents.. taxes. assessments. Hre and other haz.ard insurance premiums:
<br />un) interest on the note secured hereby; and
<br />(IV) 3nlOni1.ation of th~ prinCIpal of u~d note
<br />An)' deflcie-DcY in die amount of any s.uch aggregate momhiy payment shall, unless made good by the Mort.
<br />gagor prior to the due dat~ of the next "tuch p:tymcHL ~\Hl$[jtute an event of default under this mortgage. The
<br />Mortgagee may coUect J. '.late chargt:" not to- l:xce-eo fm;, cents (4jt') for each dollar ($ 1 ) of each pay men t more
<br />than fifteen (t 5) days U1 arrears. ro cover the extu expense Involved in handling delinquent payments.
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<br />'I. That if the total of the paymeni, made by th" Ilorlgagor under! hi of paragraph t prec"ding shall exeeed
<br />the ilmOunt of pa)"ment.'"i aduaIly made b)~ the \1ort~a~N;' for 2"round f<"uk..;. tax~s and a.s~essment.s or in~url1.n<~e pre-
<br />miu~. a.'::!- the- {'ue may be. ~uch t:"x-ce-.s-s. it (he Joan is currt"nt, ;:H the option of the Mortgagor. shaH be crt..-d.ited try,
<br />the \Iortg"l!.... on ~ub~u""t pa~'mt'tl'" In b.. mad., by th.. \lOrlgagor. '" ",funded (n th" Mortgagor, If, how"""r, the
<br />monthly pay""'..\;; made ~. rhe Mor.gagor under ({,) of fM"'gf'dph : preceding shall nOI be sufficient to pay ground
<br />rent. t~s and a.~~cs.""nwnt~ or in.surmH:t. pn"m'om_~. a..... tht. ea.,""", may b(\. "h(~n th(l ~amtl ~hall bCt;om{~ due and pay~
<br />able, then the ~..or :>jhaU pay (0 th.. \-torl"'-~~ any amount nN't.'ei~al)-' W make up th(. dtlficienf;}', on or h(~fon~
<br />the date ~-hM pa)'Rlmt of :-ut,~h Kf'Oun-d n~nL";. la.xc~. a~s~""$m-ent.!'! or insunwC",. premium~ ,....hall bt'duc< If at any
<br />tift'tt" th.~ \lonft-.....r shaH h~Rder 10 lht>- -\1o-rt.sr~{l... In iH~(.ordanft.. '" it,h du,> pro\ i-~lun~ uf tht' n(.h,~ ~tH:,url--d hereby l
<br />full pay"'''''' of lite entire IIld..btedtw"" "'p"''''nlll<llh,.....by. th.' \lortga;!"(, "hall. in I''''''puting th" amount nf such
<br />Huie-btednt:iis, credit to [h-(' (_t(."~'ount of the Mortgagor .ail paymcms ffi.lde tHKier cht, proviSIons <?f (<1) of paragraph 2
<br />h_f ..i1ich the \lort~ hal" o<>t !>e<-om(' "bliRatea in pIty 1;, lIw ""e...t....y of lIoul"inl( and l'rban Oevel"pmctlt
<br />and M}O bahuu::(* n.uutti~ in lh{l- fund~ iH'fUfftulawd undpf Ulf< pru\,i....ion...; of fhj of Pllfugn-..ph 2- hproof. If thet~
<br />shaH be- a default under- iIft~ or th~ pn}\'i~tnn,~ Hf ttl1' JOOrt.J=!~t' f't.'~uhin~ HI a publit~ :-;alt. of tht~ p-rt!mi:'lu:':I (.'()\"(-.red
<br />ha-st;y. Vi.: ili" Mu(~~V€' AC"4'i'ro,~ tt:'i.o:- p-IGp-n--t.j- nt~H~fiH:~H~ 1irier iie-fault. thi" 'k;t'~iig,~v ;;:-hiiU app~y. at l.h_H ~;rn{;- ~~f
<br />thE'_ C'nIlU"et'lt't'lltmt of su('n p"we("dtnJ!1'i. ur at thf' tim.' tht, pmpt'rl)" I,"; Hth~rYli,",~' ut'quired. th{~ balalH~{\ tht'n n'main-
<br />inl( m the fund~ at.TullIUi.ted undPr!!:,.' tJI par3.titraph :! I}if"n>din!'!,. a"" a t'n~di l a,litinst t.he amount of prindpal thf'o
<br />NmlainlnlZ u.npaid und""f ~a-id nuw~ and --naB prop-t~rl~- ;jdJU:'il a.n~ p~nm~nl:", \\hif'h :iohaH ha\'{" bN.'" madt, under (t:)
<br />flf p8nl!!raph 2.
<br />4. That !he ~i){tpgt.l{ \\dl p.n j::filUnd reub, l.l.\C\. ;!"\c'l"fllefll~. ',\-att'f f:ih:~. aflU other ~t}\'crnmenhil or municip<tl
<br />.;.'hiiUve-S, fine,. Of tmpt'l!l;itkm'S, fDr l4nKh prtn-I\.llm ha~ nOf h<<-o rn,:nk h<rembeh)rr:. ilnd III default thereof the Mungagee may
<br />p3~' the \amC'~ and lhat th<- Monp~'r wili prompt!) Jdlvcr lhe' vffici;li re-"-:C'lph I~rdor to the MOrf~lgCe.
<br />5. Tht- MOft~)f v..tlJ flay aU 14-.\('\ ...--.ntch nun' he !e\'i-c-J uptm the MOft~\ interest III said real e"lare and improve-
<br />!mnt-S. and .'hie.n ma". be k"ford Up'.ln tbh mHrt~c ,.,' the:- dent "\C'-.:-urc::u hcreh,y H'llt onh' to the extent that such Is not prohihit.
<br />N hy 14~ and \)01)' 10 (he .:\tt"nl (mat lttu;,:-h v.il! nlJl m.1.kc this io"n U\Uf1t.ru~;. hut ('\dudlna any inClmlt~ tax, State or Ft"daal,
<br />Imposed on M~. and ..tit file the:- {)ffi:c141 rc:<,,:clpt -S-ftdll4--Ulg ~tH:h pa)'mcrU wlIh the Mortltagee, Cron violalit:m of (hi~ under-
<br />takln,:,. VI' if the- MOf1g~t:\f i) prohiblt~d b\' any b.. nu\\ (.~t here-afttr (',i~hng from pay tog the- v..tlOJe or J.n~' portion of the aforc~
<br />Qtd UIX-e'lo. Of Upltn the ft'D\k-nnl- of an" \:-ouft dei.'fCC rrohlNting the payment by the Mt}rlgagor (l[ any sUi.:h t.~"es. or if su\:h la\\
<br />(".4' ~~ftt pn,-",tdc"~ .hat an)' am()Unl ,.) p,iulJ h~ the Mvrt~,).f ~hall ~ ("fcdited on the mortgage: debt. the- Mortgagee ~hall h;,tve
<br />the nght to give nlnd~' daYll' ....utten ft\~li..'t: In the 1,1Wnel' of the mort~ pr:mlse~. requtrios: the pliyment of lhe !Ot)rtgage
<br />debt, If -such nOllce- be ..\'en. the-- sau:l dtbt 'Shall be~l}ffie due. p~y~ble and colJectlNe ZJ( the- expiration of 'ilud nine-t}' \j~iY'
<br />b-< That should he- fa.il (0 J>>Ii~ an~' sum Of leep any t.'O'v~'''nunl prO-\'IJe:d h)r in thh M('tf~, then the Mortg8#ee. al ih (IP_
<br />ttOD. may pay or ~lvm the same. and aU C'lpc-nddun:\ ~4.l madt shaH be added Iv the. principal ~um owing I.m the ..lxwc nnte.
<br />>llalI be -.l hereby. and sltatl ""liT Interestal the rale .el f"rlh in.he .aid nole. onlil paid,
<br />7 That "'" hereby _. IT''''sfe...nd..... over to the MOrtgag<<. 10 0<: applied tt>ward to<: pay me.,,' "tlhe "<>If and all
<br />_ _ureol """"by in """" of . rkbult in Ihc !'<rfflfmalf(;e of any t>f ,he term. and cunditirID. of this Mortlll># or the .aid
<br />noc~. an tbe nots. rc:\~ ltnd int;omc tn be de-ri,,-ed fftlfn the flli.lnwu.xd prcmis-e\ during such time as lhe- tnungage indebteJ-
<br />~ ihaH remam uapaJd~ and the Mongascc- shalt na\-e power w appoint an)' ~tgent ~Jr ~gents- It may dtiiire fm the purpose of
<br />~".mA&uid prem-~ and-ot ttfttmg the same and col.Je.ctif\ll1he- renh. re..enuett and Income. .md If may pay oul of ~Id in~
<br />C'OIDeS aD t:~iS fJf fcJ)I.U1ftX said PfeIDIK'5. and n<<esyc)' commi,uions and expenses incurred ion renting &.nd managinglhe
<br />__of ~...rental> tlterefrom: Ihcballlll<'e r"m.mIDI!, if any, tl' 0<: appl~d ,,,warilthe discharge of .aiil mOrlgage
<br />indcbtedneu.
<br />1I.1'ItatlWl will Uep tlleintpro._t.lfOW uioting or bcreafter erected on the mOrt_ed property. insured a.' may he
<br />~w....llrom. time!o time by the Mor\tlltllf< ag"'Mt lo>s by. fire .nd other halJfrds, c""nalli", and conlin",n"te, in "leh
<br />_atllifotsudl pot'iocis.. may bef(i(jUired by lhe Mortgagee and will P'ly pwmplly, when due. any premium. on 'olh
<br />~ llfOIIioioet<< pllymeat of which blu oot been mitd< hereinbdore. All i",urnm:e ,haH be l'arncd in ",,,npanie, ap'
<br />I'<'OVe<I by llIt!Mnnfll;lll!C JUld llIt! pulkie. alld renewal< there"f .hall be held by the M"rtlt"$I'" and have all.,hed theret" [0"
<br />~ dtI_ iJI.fa_ of and lit Iwm o<:."ptab!e to Ihe Mortll'll"e. In e"ent of '0" MOlllt"lIOr "ill gi..e immed,ate Milce hy
<br />__-10 __'~-. .'ftu -m3)' maAr: p-f-oo( t;1f k;,,~ if not made pf-\Jmpd)' hy Mort-Pl(Ur. and ea\:n Ulsurant.:e ("\)mrany \'~un>
<br />..............,.autllori:ted atllidire..:led to m"ke payment for such 1<>". direetly tt> the Morljlag"" tnstead ,,( 10 the Moritmll'"
<br />........~ .!oilllly, IIltd Ilk ___ ~.. ," an.. part IIter.,,(, may. ~ applied by (be Mort_< at iI, "Pllon either
<br />I<l"~ 0( Ilw~,'*-by _'Ufe<l or t<l tilt <e'flOflltioo 01' repair of the property danlatled. In e...nt of foredo.
<br />_"*_--.oratlterfl'aft$forollitlelo tlWlmorttpl8Cd property inextilJl;liwnllml 01 the 'ndebtedne" ",,'ured hereby.
<br />llIl ritfI!l~ .. "'__1 of t""~ in lllId l<> ltIly i__ pOOclel then in force ..It:r11 p'", t" lhe purchaSff' nr 1t,"llk..
<br />" 1'!oltt'"~ atJd wllaiUtil_'Ilrity lor lhepaym<:at oJ lhe oote d",cnbe<l, and allium. l{> be<:ome d"" undel Ihis
<br />____.llIt!~ !lmtby..... ltlltw: M~!lll~, ",>.n..." "'yallie.. rillhh and I>endilS a<,rfling h' ihe
<br />~.IIOIIilel:..."iOIltl1lll 00 atlli....ieaw.o "" -..id I""\It;,..,." ..ilb the ,ight '0 re"...'" llRd ,.e'!pt r""be sa...e and .l\l'pl)
<br />m.m"'...... itldi>I.l~_"'" ...,tt.hilt_.. aft..r .t..faull inllweonditioo. 01 ,hi> ro",...,.,. amllheMo"lJlI!l<'<' msy' <lemand, ,u<
<br />Iof __..,..y.iIQdt payJ!\e1ltl wbcm lIue IiJld piI~."lIhhllll _ be "',!"ired ''''0 d,'. r"l, ......n....nl is lv' I"rm\nate
<br />_,*,-!lliIilllllltl'OIf.l_~t1f.lbi.~.
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<br />Ht.H_} 9214-JM H~, f'!c)I
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