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<br />83-U04912
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<br />(1) monrh prior to Its due date- the annuaJ mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium 10 the Secretary of HOUSing and Urban Developmenl pursuant to the
<br />National Housing Act. as amended. and applicable Regulations thereunder: or
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<br />(II) If and so long as SOld note of even dare and this Instrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in Ii"" of a morlgage rn:rurance premium) which shall be in.n
<br />.mount equ.1 10 one'lwelfth (1/12) of '>ne-half (1/2) per centum of the average outstanding balance
<br />due on the note computed wtlhourtaklng Inro account delinquencies or prep.yments:
<br />(b) A sum equal to the ground renl" If any. nexr dUe. plu, rhe premiums th.1 will nexl become due .nd p.yable on
<br />polIcies of fue and othe, hazard inSUrance covering rhe mortgaged property. plus taxes .nd .ssessments next due
<br />on the mortgaged property (all a' emmoud by /lu Mortgagee) less.1I sums alre.dy p.id rherefor divided by the
<br />number of mOOlh, to el.pse belore one month pour ro rhe date when such ground rents, premiums, taxeS .nd
<br />asseuments will become delinquent. ,uch 'urns to be held by Mortgagee In trUst to pay ,aid ground rents. pre.
<br />miums. laxes and spectaJ assessments; and
<br />(c) All paymenls menlloll<!d in the two preceding subsectronl of thi, par.gr.ph .nd all p.yments to be m.de under
<br />the nole secured hereby shall be added wgelher. aod the aggregate .mountthereof shall be paid by the Mortgagor
<br />each mOOlh In a Slogle payment to be applied by the Mortgagee to the following items in the order set forth:
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<br />(I) pfemlum charges under the ,,,,ou><:t o[lnsurance wllh the Secretary of HOUSing .nd Urban Development,
<br />or monthly charge (m bf!U o{ mortgagt" Insurance premium I. as the case may be;
<br />(II) ground rents. taxes., ;ess.c~ments, hre a.nd other halard insurance premiums;
<br />fill) 101ef'e-s.t on the no-tt 'Secured hereby: <lna
<br />flV) amorUlaUon of the pnncipaJ of SAid flote
<br />Any det1L'1ency Jfl the amount ~tl :my ;wen aggfe-gale munthly payment shall. unless made good by the Mort.
<br />8.~f pnor to the due dJ:te nf the !1{'Jl! such paVlnelll, \-\HlstIlUle an event of default under this mortgage. The
<br />Mortgagee m.y Lullect a "1.1t ch.,ge" not tv exceed i"';f cenlS (4.) fur each doll.r ($1) of each payment more
<br />than fifteen (i S) l~~YS 1rt ~ne3:rs to cover the ~Xtr3 expen5<' w:voived in nandhng dehnquent paymenu.
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<br />.,. That if Il... Wlai of th.. p.y",....I" "'ad~ b~ th~ Ilo"~apor under ,t,) of paragrnph t p",c..ding shall exceed
<br />the amount of pay.PIlls at'lUaU)! made by UIt' \tort~aJre-t'- for eround rents. uu.es and a.ssessments or insurance pre~
<br />lIl,ums. as the ('L"iP m.il~' b~. s.uch ('ICr-o,:!'.. If the loan I... currenl, .H (h~ option of the Mortgagor. shaU be credited b)
<br />the Mortgagt'" .m sub""'l'l....t p..y.......c. w .,.. ",ad!' by Ii... Mortllalto,. or r..funded III the Mortgagor. If, how'>ver, the
<br />.......thly pay...ent" made by rhe MOClgagur under ,,[ paritgrilph :: preerom/( shall not be sufficienl III pay ground
<br />rent.. tales and as~f!'~~nt!'! or inl'>Urann." p1't."m1um.,.. a,.. I,ftl' c a.....t.. mal bt'-. ""hen Ute same shall become due and pay-
<br />able, then the \lorl<<lIjtOl' ;;hall pay to th.. II,m;!a;!,',' am amount n"I','"sacy to ...ake up the deficiency. on or before
<br />th:~ d... ....en. paYfRft'l1 of ':loch ~roupd N"nh, laXf'~. .il....~t"~="'m~nb or l"suranc~ premiums JoS-hall be due. If at any
<br />II,,", the MurtglllfOr ,.hall Wn<ler Iu the llon~allet., In a'Tordon.." .nth the proYl~lUOs of the note secured hereby.
<br />full paY",.,..1 of Ih.. ....lr... mdelttt'tin..~, ..,p",~,...trd rh"f{<by, th., llortlla/(.... "haJl, 10 cumpullo!l th.. llI1Iounl of soch
<br />.n.u.btNneSs, c,.,<ln ro ,n., ItCcounr of the Mortil"IOf ,.Ii p..'m.....s made under me pro...iOlls of iuj of paragraph 2
<br />hereof ...-bich the \Iortjr"ll'''' h"" nol I><"'o...e ..blll/"h'd w pa,' 10 the ""..n>lacy of Housing and Urban Development
<br />and III\Y "&I"An ....alflCng rn the fund., .lTumolal"d un<k.r lh.. proVIsions of (/;J of parag,..,h 2 hereof. If Iher..
<br />"j,&l1 be a def....1I under any of th.. !"O'h'''''' HI I"" ",ortp,,!!" r"'ullinj/ In a public .1Ilt! of the premi...., covored
<br />hereby. or if u... Mtmga""" Ilequ""~ Ih" prop"'t) uth..,w...e .f"'r d"faull. th" \Ior\j!agee !!'hall apply. al the lime of
<br />the c_e_1 of ....cli ~,hng~. Of at the lU." rb" property'" othe,w,"" o<'Ioir..d. the b..IlU1t'e then remaio'
<br />rng In Ut.. funds accu_lau..! UDder I;'! of pl>l"llj(raph 2 pr~('..o'ng, as a ""odit agatMI the IlI1IOlInl of principal then
<br />......nin'"np..d un..... said 00"', .."d .;hAil p"'pNly adJu" am pay......ls ..h,ch sh.ll bay.. been mad.. und.., (a)
<br />of pllrltj(raph 2.
<br />4. Tlut1 tM Mort......x \loIH p~.,. grotJnti re-fih. 1..1\(\ ;;~,('\')(f1(nt}. Wjj.tCf rJlt\. and other Governmental or muruclpal
<br />cnarac\. fmc"j, Of unpoilUolh. tor wtu("ft pro\dShH1 h:B nor [\ten made hereinbefore. and In default thereof ehe- Mortaaaee may
<br />""y.be..-. "ndlhal.he Mor.,."" ..,II p,<'mpil\ dd\\er 'h<: ufttCl1l[ rccerpl' th.rdo, to the MorlJilaee.
<br />~. The MortPl-Of \..-all Pis) <'iU t.a:\C\ __.tut:h llUr he tc....,C'iiJ upon t.he MOflaaaee'S lnlercsl In )aid real e'itatt and 1mprove-
<br />ments. and ..h..h may be ley..<I ul'<'f\ ilu. ",utlg,aBc '" the deb. ",curcd I>er.by lbol ,,"iy to the <Xlenl thaI ,ueh I' nol prohibit.
<br />ed by law an4 only tu the tMent UUS:( ~u(h 'olo.tl.l nut ma..c Ihl:'! loan u~unO\,-~!. hut cl.c.udm, an)' income lax. State Of Federal.
<br />impc>>c4 On Mortpace, and ..'Illliie Ih<: "lbc...! ,e((,pI ,h"""'B ,....:" pa,_nt ..lIh the MorlPaC', Upoo "olalion of Ihts under,
<br />talUna, or if the Mor....."" pfUh.btle<l by.....} i... "',.. or h<:<<.h.r. ...trni from pay'ne lhe ..h,* or .ny portion of.he afore-
<br />WMJ ta..e-i. Of upon tbe telkkrm. pf any ,,:ourt O(,;';I('C pfutuhumg t~ payment by the Mort.pjot or .ny ~u,h Ui~e~. or If such law
<br />Of decree pro'ldeslllal .o} amount ><J p...ll bl 'be M""N'" ,h.1I be <red lied on the mor.....e d.bt. lhe Mon..lee .hall h...
<br />lhe rttllt '0 I'v. n",.ty tla.ys wflllen ""I".. ,,, ,h. "..ner 01 the 1O",,_d p,emt..,. rcqlllOni lhe paymenl of the mOflaage
<br />debt, If"""" notw:. he ....n, the..... debl ~II be"vme du.. P'l"ble "nd <:ollectible at the expiration of sard nmery day,
<br />0, Tllat should he lalllo l'4y ""y sum ,rr ~erp .nj CUy"".or pru."j"" for in llus Mon_, then Ih. Morlpac" at it> 01'-
<br />lKm. may pay or pafOftn Iht ~e. .and aU e-'pcnJHU!e!. "-i} m.dc "h&Ii be: added 10 the prioclpAI iutn owtn, on the above note.
<br />ihAiS bt J<<wcd OOeb}:, .aud s,ball bt-v In!cre~t at the [""!t )-('1 forth Jti lhe )iU.d nmc, lltUiI pa~d.
<br />7. Thai he htfebj a....co.. tran.fe" aM..!> 'IV" 10 rhe M"rt....e.. 10 be .ppltcd to..ard the paym.nl o( Ih. note ond all
<br />SllIM _ut"" iIe.eby en "".. of a <I.fault to Ill. perl"r"'anc. of an) of lhe t.rm. ond condilion. of lhis Moncace or the ,aid
<br />not.. all the reith, r.v....... .nd income w bc d.rlVed from the mort_d premrse. durillfl .uch time as the mooNe ind.bted,
<br />ntH dlail re......n 11_.0; andlhe MOIl_ ,I>a11 hale po...r to "ppoml .n, ..enl or 'genls it m.y des"r for lhe purpose "f
<br />repaui", satd prcmu.c.\ .a.nJ: of renhng lbe ).mc and <.:oHcctJnj. tilt- renh. reyc-nue.,," and income. and If may pay 001 of said in~
<br />come> all upettSot. of lepa"'na lilUd ",.mlSe, and ne<:...ar; <:ommlS..otu and e.pen.., mcurred '" renullfland manasinlllhe
<br />-_ of coIIe;:u... rc,uaI. thtfefrom. the !:>ala"". r.mau"fl/l. ,f any, to be applied .oward the discha'lle of said mOflPlle
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<br />. i1lat he will k.." lhe tm",ovemen.. 00'" nlS'lflg or herealler er.cted On the mollgagetl propert" m.urrd as may be
<br />~ {<<NIl t'- ru 1lI1l. by rile MOrt.....e "pm" 10$' bl li.. .nd Olher h.zards. ".....ltie. and contillllCn<:lC. in .ucl>
<br />_. aDd lor _It poItlndi t" ",ay be re'llllfed by. the Mortpg.. .nd wrll p.y ",ornpdy. when due, any premium. on .ltch
<br />"'-- ....o~ision (Of ""y_nt ot ...""'" ba. nOl buo made herembefore All i.....,."". .1IaI1 be carried in companICs aI'-
<br />",,,tied,,!' the MorfNcC and the polW:;.. and ,.ne...1> lhereof ,lIall be held by lhe MOIlllill" and "ne attached therelo toss
<br />JIll)'Ilbic ~'ll\ la_ of .NI in form "",;eprabk tu lhe Moncatlct, In ",cn. of k>ss Mtlf~ ..illllivc immediate nollCe by
<br />mail Ii> Illc ........,. ..ho ....y mH' "roof uf k". If nOl mad. ",omplly by Mort..,.,.., and .ach miurane. company "0'"
<br />cctlIelI p ",""by iIUClloriU4 8Il<I4int:kd to ",alt. p.ym.."1 for 'ltch 10.. <lirec'ly 10 the Morr,aaee ,n.lead o! to the MtlflPl!')f
<br />_Illc ~ ,oomy, and the "'__<"'''''.ed.. <,of any "an lhereof. may bc apphcd by tlw Mort..,.. al II. optIOn e'ther
<br />"'1illI'~ of the ...~ hereby ..,mod '" t.. lhe ,.",,,.tion or r.".... of rhe properly damaced. In nenl of fouel".
<br />_of.. -...,or other Ifllll1lctof trdc 10 lhe II1<ltl...." ",opeMy '''uti......hment of the iNlebfed..." .ecured hereb).
<br />all t_.tftIt W _rut of lhe Mor\lJIlI<It m .001" ony m.ul'''''''' po!CCIU thell t" (Otce ,hall ""..to the purel"..e, 0' granl.e
<br />. TIatot ..a6tlIt-.i 0'Id collat...J ",,,,,,,y fm ,lot ....y""'"' of the nolr <leKliter!. 'Mall .um. tu bccvme dut und., th"
<br />-IIIIIE. tlwM...""..,.. M,.l>y .,.....' h' the M""~ .11 ",utiu. rnen..... ;oy&lI.Ie1. "rII" and t>c...fil. a':o;:rur". '" tll.
<br />~ UIilIkt .ny ~ ali <lIl and... in.." on ...'" p,em..",. wllb rhe njtht '" r<'C",< .nd r.,e.pt (or r"" ""nc a..t! ""I'll
<br />..... w... ~_!\. M ....U bd4n 3"\ .fttJ 1.kfaw-t -1ft the' (,;QMihtNl\ ~)f ttti\ mOftp_, tlQ4 Ihf- Mortp-IC',t ffia ~ ik'PHlnd _ \JJ('
<br />1M "'r_~"_M)" ~''b ,a)'ftWmll< whc-n du. ~ fhl,"~hjc. ntH lohaH not hf- ff4U1f('d ~o hI Oil nu~ 6!'o_\IJnlfit"Dt 1\ t(t Ittmm~~tr'
<br />.oN................, ....., _ r.m....,"f lit.. mvtl~"""
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