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<br />(I) monlh 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 10 the
<br />National Housing Act. as amended. and applicable Regulations thereunder: or
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<br />(II) If and so long as said note of evenda!e and this Instrument arc held by the Secretary of Housing and
<br />UtbanOllvelopment. a monthly clwge(in lieu of Q monpge insu/ltlllC'c p".",;u",j which shall be:inlln
<br />amount equal to one.twelfth (/12) of one.half (II;!) per centum of the average oUlslandingbalance
<br />due OIl the noteC<lmj>uted without laking lnloaccoonl delinquencies or prepayments;
<br />A _ equalllUbe !If'OWld rents. if any. ne)CI due. plus Ihe premiums Ihat will next become due andpayabkon
<br />poIideJ of lire and. othe; hazard illSllranar c_tingthe morrgaged property. plus tIXcsand assessments tleXt$e
<br />00. tluomonpted property (aJJllS _lntItffti by (he Mortgagff) less all sums a1readypaldtherefor:di~ded.:by tile
<br />IlUtnber of months to elapse before one month prior 10 the date when sucli ground rents. .premiwflSc.taxeSand
<br />_ts witl become delinquent, suchsllms to be held by Mottgagee in trust to pay.aid ground rents, .pre-
<br />miums, tues and special _nu; and
<br />All payments mentiOned. in the Iwoprecedinswbsections of this paragrapll and aU pay_nuto be made under
<br />the note secured hereby shall be added togelher, lItld the aggregate amounl thereof shan be paid by the Morlgagor
<br />each month in a slnlJle payment to be applied by tbe Mortpgee 10 lhe following lIems in the order set forth:
<br />et;.
<br />C\J (I) premium charges uncler the conuact of Insurance WIth the Secretuy of HOUsing and UJoanDcvelopment.
<br />o ot monthly elllfF/in (iftl of men""" iltJtll'll1lff pnmillmJ. as the c_may be:
<br />u;,. (II) ground mils, taxcs. use_illS. rHe and other hazard insurance premiums;
<br />o (Ill) in.erest on the no.e $CCllnd hereby; and
<br />C (IV) amortiulion of the principal of wd note.
<br />I Any cleftdency in the amount of any wch qgregate monthly pay_nt mall. uoless made good by Ihe Mon.
<br />n; PlJOf prior 10 tIte due date of lhe next such paYln"fH. <<I1l'tilule an e~t of defwlt under this mortgage. The
<br />QO Monpp may coIJcct a "late charF" nOI 10 exceed (u'" cenli (4,,) fur each dollar (Sl) of each paymenl mote
<br />th.. ftft_ (l S) days l1> aman 10 rowr the exua expense tnwhed in handling delmqlJCl\t paymenu.
<br />
<br />(b)
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<br />(e)
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<br />3. Thill if u.. total of tit... paywMftts ......... by chI' \1orlga.jlOf u.. f h I of p~plt :.! p~l'di~ "hall ex....u
<br />ihe _t of pa,....ts actaally made by che Mon<<laj!tK' (or I!rooncl rents. lax...5 anel asSt'''_t!!tIts or insuruce ,,-
<br />.._. lIS tQ e_ my be. 8'1(. excess. if the loan is cunen'. a' the OflClon of me Mortgagor. shall ~ crediled ~
<br />Ike Mortppe Oft ...,..ent pay..u to be.... by tIt...ltkmg~. or ~ftlltlleclto chI.' Mortgapr. If. how..ver,che
<br />-mly p.~ts n.Ie by rhe Nongllp under 1M of paralf"l'Ph 2 ptl'CCdinll shall not be !CUfficient to pay ground
<br />""'I. ~ IIAcI _t11 or l.._no "..i..",,~. .... tit... "..~.. ....~ ~. ",1tf'n tit... su..- shall bet:o_ due and pay-
<br />able. dMm Ike Mong..... shall pay to lio" ~lortN"'" an~ .-unt n""l.'s"lU)' 10 1lIal<.. up th.. d..fici"ncy. on or befo",
<br />Ike date ....... pa,..- of Iladt ~ ""'t8, luu. lL'l!lfll_~ or in!'Vl'an.". "",...iu,,..' shall 1M> due. If at any
<br />U_ 1M MDrtppr lIhall teftder t" tlte Mort<<&ll"'. in llC'COnlanc.. wltlt lit... ,,""isIOll~ o( tit.. not.. "l'eUred Iteft!by:,
<br />full JS~\ of the ....ute i~...." "'!"""''''RIH th_by. t.... \1o"N"' "".11. In cOlllJSuhng th.. _VIII IIf welt
<br />irwIe~_., aedillO the lICCWQt of the Mnn...... all pavlMnllO ItIaIk undn the f"O"ISIOO5 of tal of P.... 2
<br />h..., rotlldt the Martpree II.. not __ obIt.atM to pa~' W Ill.. ~IlU). of Housing and l'rban (k"e1opmen'
<br />aM.y hal_ ~aiRll lilliif' fwtlbt .e~lated unci.... \hI' pm.....i...." of (~! of pan~ 2 h_f. If ther..
<br />lIItall be a del_II ...... ..y 1)( tilt' f'l'O"i..iOllOl of thit; ~lIjtI' ........lhft~ In a public sal.. of ch.. pt'l'Illi...... co"..tl'd
<br />b...,. or if lIoe MDIipcee "...i_ lIoe prop<<ty odtl'l'Wi.... aflttr dt'fauh. tit.. ~~ ohall awl}, at thl.' Ii.... of
<br />the _~ of 8Dch JN1lCM'linp. or at the tt_ Ih.. prvpert}. it; ~"... .c....tl'd. tlte halanCtl then .....hl.
<br />ine i. die "-I. ~..... Ulldet I bJ of p...... 2 prt't'l'tlin!t. all a .,,...\ agai.". th.. _lit IIf principal tlten
<br />~I.....d ..... lIar4 _. .... ..11 fJl'Ol"'f1v' &Ii/u"t Iftv p.\,...."'s whirh !lhall h...... n- llI&<it' uft4et' (al
<br />of ,...,.,.. 2.
<br />.. Tha1 tlte MOI'lIi1lIOf will pay IfOIII'cI rent~. tau.. a......m..na. ..a.er ratn. alld olher ,ov..rn.....ntal or munICipal
<br />cMqa. Iltoes. or ifttpcmboM. for ..ltil;h pr.."....... bao IlOl been m&<k IterCttlbefore. and In default lhereof ehe MIIl1PJCC may
<br />pay doc~; aacl tIIat the Mort..,... wtll "'_pill' deJI_ IIrl' ,1IIioa1.ttapt.llrl'refor to ,Irl' Mnn~,
<br />S. TIle ~ will pay aIllnfl wltil;h may he levied upon .he Mnnpttt'. Inl<<.... 1ft "10 real estate and improve.
<br />_, .... wllidl_)' be leVIed UpOll 11m m~ or tlrl' detM _ured hnel>y ,""I only' 10 IIrl' ulent ,1Ia1 .u<:h iv not prohinn,
<br />ed by .. an6 0IIIy to the ulClll thai sud! ..ill not mU.e thi. kwI ".unousl. but ududllll any Income In. State or Federal.
<br />itapo&IIll 011 MGnIaIcc. aacl will lite the olIIcial receipc .hot>lftI.....it ptty_ ....tIt the Man...... Upon violation of 11m under.
<br />Ulldaa. Of if lilt Mort..- is proilibi1e4 by aay law _ or hereafler uistlftl frOlll pttytlll the whole or any ponion of IIrl' afar...
<br />1ilIicI tuft. or tIJIOII the retl4kri1ll 01 allY court dcc:t<<. ptohibmtll lhe pay_nt by lhe Morll\ll<lf or any ,uch In... or if .uch law
<br />Ofdecne Jlf'OvilIet thai atly __so paid by lhe MortplOf ,hall he endued Oft the morl..... debt. lhe MortPICC .hall h.ve
<br />die riP! lO aiw lliMIy days' wnr_ noti<< to the 0"_ of lhe ItItIftIIIII:d prellllle.. requmllltlrl' pay.....nl of lhe mort...e
<br />dIbt. If __..... be __, the said dell( $/aaII became due, payable alld collel:tible aethe uplfallon of ,aId nrnety day,
<br />L TIIIIl....1le laiI wpayany _ Of keep atI)'CO.........lptOvtde4 for in dllS Mortpac. then the MIIl1pp:e. al.U 01"
<br />_.!MY pay or 1lftf_1llc _. aacl.u e~ '" made iItalI be added 10 lhe princrpal sum OWl'" on lite above note.
<br />"besecamlllanOr. an6$/aa11baf '- at literate vet fonltllllhe Wd note. untt! paid,
<br />1. 111M he IlanOr ...... truIIen aad 1i4!I' over 10 lhe MortPICC. 10 he appIte4 loward lite pay_nl of the note and all
<br />_ ~ ~!' ia ~ of a defal1il in l!oe perfonrram.... ollUlY of lite lerm. alld conditions 01 thr, MlIl1pae or tlrl' ....Id
<br />llOiC.lllI.lIltmtts.~, aad itIo:omc lobe deriwd from lite m<<tptCl! pre""'" dunlll wdt Ii_.. the mottpae indebted,
<br />Alii iIiiit ~ v~::; iiiiiiI diii ~-::;:-:: ~ ~ ~ to!t~ ~n)" ~. fM ~~~ it nu, d~sitll!:' lot the purpose of
<br />~.."....... aadol fl!1ItlftI the _ aad collectillllhl' .....ts. .tven.......nd inco...... and II may pay' out 01 said in,
<br />COIIlI!l ...... of f~ said pretIllses ancllleCl'S"'Y rooum.utOM and C\pefI.... IllCuned In reotl", and manaarna.he
<br />__ of ~feIIUlIa thetefrom; tile bMatlcl' fl'tUIAIftI. if atly. 10 he applied toward lhe dlKharF Pi ...0.1 mort......
<br />.... !lilt.
<br />... n..1le will -.. tile ~ ....... eaistina or hereafter erected on the mortPlcd JIfOPO'rty. insur~d as may be
<br />~ ,,-. tiIM lO tiIM by the MortJIiIIlll! q;aitw Ion by Iirt' aM otlter hazar4l. casualties and contiftlen<:"'. in .uch
<br />...._,..-perio4a __y be~ II)' the Monpaee ....ill pay prOlftplly. ..bend..... any premiums on sucll
<br />........~ for ,.,.,... of orliidr ... _ beCll ... hemt>before, All iMur.nc:e WIll be carried in COlt\pa..... al"
<br />......by.~ _ the ~s .nll ruew,ab lhereof obaI1 he held loy lhe MortPICC aM have attached thento 10"
<br />...b1u~:I.... fa_ of ... in f_ ~ to the Nortpp:e. I" event of Ion MOftP&OI ..ill Jive immediate IIOIlCe by
<br />"tit _......... wIlo.. ..... pteGI of loss if not llUlIIe promptly by Monaaeor. alld w:h in.unoou company con,
<br />.........................lOllIllllc ,.y..m. tOf ,uelr los, din:clly 10 the MllftPFt'iMleacI of 10 lhe Mnnaaam
<br />..............." aM the ~..-... Of MY part thereof. may be aPfl/ied by Illc MOftIqft at it. OIllIOtl..llher
<br />..........,.... n 0_' m.1lenby -" or 10 lfte.,murlllion or repair of thepropeny damtlaed, In .."ent offor~(Io.
<br />.._...................'" lilitlo dIe~ prQpetty me.~1lt oIlhe illClebled""". sttured hl'reby.
<br />..._.............01 tlIe ........ ia...1o 11ft,. iMvrarw:e policies llIell 1ft flll'U iItalI pa.. 10 the pIItcMter (If lIfafttee
<br />.. TIIII.............. ~ ltlIlIll.Irity '(It the _-' III the note 4e-scrtboc;l, and ..II __ 10 bei:ome due under th..
<br />~ .~ ....... .....10 tile M~ ill pmiU, ,evtllllC'. fl"~S, ripl' and benoollh ..:crui", to tilt'
<br />~""'IlIlt_"oil"'____GII_~, wtllltlle.IO._.iwud r<<...pI f(lflhe .:o...e .ndlll'pl)
<br />........ilb..,lIbll....Il......Il,teI'4dhlttllthe~..fthis mortJllItt. aAd tbe ~m.r !kllland,'1ie
<br />__......, tIIdl..,..........._ .-..,.able, but tMIl_ j,., r_ed lO to dt), Th.. a",,,_.n h ,<> ler"'"Mlt
<br />_~.._..w_"'Hof _-.-,
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<br />HUo.'1t4.Jtd \#-191
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