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<br />(Il flHJllth prHH 10 aU due UJte the .allllvallllt)ltga~C' Imur,lll:.:C I' r1:1111\1 111 111 mile/' 10 provuJr such holdtr
<br />WIlh funds 10 P3Y such prcnllUI11 to tile SC(fctary u{ tlllllSlllg .3n.:1 lirhan Dc,!~lopmellt pursuant 10 lhe
<br />Natlonalllousmg Ad, as. amended, Jnd applicJhle Rt.'f,tJlalloP~ thc~cundcr: ur
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<br />(II) If and sn long as ':lId nole of even date and ttm ,"IImme", are held by the Secretary of Hou,ing and 00
<br />Urban Development. a monthly charge fin lIeu of a morlgaKt~ insurance prcllflllm) which shall be in an W
<br />amount equa! to onc-lwelfth (1/12) (l( one-haIr (! i~) per c('ntum of the average outstanding bafance I
<br />due on the note computed without laking mlo 3aount dt'!uhluencics or prepayments:
<br />(b} A sum equal to the ground rents, if any, fleXI due, plus the prcnmmu. that will next become duc and payable on '-.
<br />policies 01 fife Jt1d oth{'r hal;lrd insurance ,()vcf1n~ lht' nlllrlga~cd propeny, plus faxes and assessmentS next due C'
<br />on the mortgaged property fall as csrimalC'd by the Mortgagee) less all sums already pJid therel"or divided_by the c.n
<br />nUOlttcr III months 10 d;Jpse before- one month prior (n the J2.tt.' ,,-hen sut:h ground rent!l, premiums. laxes- and ..J:
<br />assessments wIll hc-cnmC' dtlmqucnt. such sums. to ht' helJ h)' MnnfJgcC' In lru~l 10 P3Y ~ajtl ~lOund rcnrs. pre, C,C--
<br />rnlUJ1U, 111Xrs, and specIal :nsC's~mcnts. and ~
<br />h:) All p3Yllltnts :rienuoned In the two prci:cumg subscellom of tim, p3ra~r:Jph and all payments 10 be made under
<br />the note secured hc-fehy shaH he Jdded loge-ther, and the :1~rc~at(' amoun( thereof shan be paid by the Mortgagor
<br />each l1wnth III a ,)1I1gJe payment to be applied by the Mortgagee l\l the following Items in the order set forth:
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<br />(I) i)!ct11lum dUfgCS undel tht (unlract of Insurance with Ihe Secretary of H\.HJSHl~ and Uroan I.>c-vctopmcnt.
<br />or monthly charge fl1l ilt"'ol n! mort~ag(! In,wrancc pnmiumJ. as the C35e may be:
<br />(II) rlound l('nlS. taxcs, ,n~{,!l!;mcnts. file anJ pther hJz:uJ mmr::mce pn.'mlUms.;
<br />(III) ln~ereit nn till' not~ s:ccureJ hereby, and
<br />(IV) an1(\rllJ.atlon of the pnnClp:u of S:110 note
<br />Any Jcflcu:ncy In the amount ll( ~ny such Oiggfe-gJ.lC mOllthly pa) menl !lh.1ll, unles.s m3dc good by the Mort-
<br />~agm prior to the due date- of tht ne~t :s.uch p~ymctH. COllSiltU(C an C'o'e-nl ur drraull under this mortg3ge. The
<br />Mong.agcC' may ;'::l11!~,t a "latC' rh"Hgcn f10l ta C"x.ccetl hll;r (e!il!. (.tll) fOf each do1l3r (SI) uf C'Jl.:h paymc111 mort
<br />!Ilan tiftc-en (15) Lt~yS 1/' Jrreaf5 to co..-er the extra ('xpensc Invoivetl III handling dehnquent payments.
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<br />". That if U", Wlnl of ~~~ paym,'nts madp by UIP \lort~agor ttndN 1,1 of paragraph 2 prccedini: shall cxt'eed
<br />HH' amuunt fif paym...iH:; 3.i"tualiy m~-fk bj' th~ \kjrtgaI!Pi~ fM ~rouni.l i('nh, t3.~("S a....ld a.sfoj('s~m('nts of insufance pre.
<br />mlums. a_'" th(l r:L~t' m3j bt'_. ."-u('h excess, if th<.' 10.'0 t"ii ..-urren!, at tilt. optiuCl of the MonAa~or, shall be credited b)
<br />fht. \1ortcagN' on !-'uh~t'qtlt'nt paym('nH 1.4) Iw madt. hy th(' \1()rt~;jf!or, or ft'(undt'd to th(' :\turt.~agor. fl, ho\\,('\,cr. the
<br />",uhth'~ paymenl>.\ rr.ade hr lhe Murtgagor uoder fh) of p;u<lF-r:tph "2 preceding shall not b(~ suHicient to pay ground
<br />,vnl, tu,e~ and 3.G$pssm('nb or In;.;.uran{'(> pa"mium". iJ.'5 th(> ca,..,:;,'" may hi', .....ht'n th(' sam(' ~hall b('('omt~ auf' and pay-
<br />"hIe', lht'n Lhp. "ort~~or ~hall pal to the \tortgaJ,;r" 3.n~ J.mount nt'n":-;:-.ary to makt' up tIll' dt.ficIPnc)'. on or b~forp
<br />It\{' dUll' "h('J\ pa}mrnt o( ~uch ~Tltund (('nIS, la.(>~, a.....~{'........m{'nl... or trI -urant'(" prt~mlum~ ::;h1\11 hI" OU('. If at any
<br />llmt' thE' Morqz:al(or ~ha!l lrndN to thr \1(}rlga~t'(... In ;.u:ctJrdann' "llh th<.' pro\lslOn~ of thr not(' ~(,curl.d hen-hy,
<br />full paymi'nl n( thl' ....ntin. ind('btl'dn('",,,, rrpre",pntf"d lhpn'h), tht, \l()rt~~'If!t.{, ~hall. in ('ompU1tnl! tl\t' amount or ~uch
<br />H1deb(('JnC'~~, acJu to the :KCOtHll of [he ~h'rt8.ago' all p<I~'mcn(~ m.;\dC" under the ~)fOVISIOns of (a) of pmaRraph 2
<br />hf"t~of ""hu'h th(-.- \tortl:ar('(" has not tif'rom~ obli~ah'd to puy to tht" ~('fptary or l!ousil1~ and lirban Development
<br />lUlO an) balanct' ff'mainlnl! tn thl' {und~ iHTumulal('d under !.hI:' rro\l...lllil~ of (f,} ur paral-traph 2 tWtt'{lf. If then"
<br />"'hall bv 8- default under an~ of lh~ PfO\ISlon.o; or thi~ murt~,lct" rt'!'>>ullll11! In J publiC salt. of UH' pt('mis('~ covcrt'd
<br />hNCb.. or if 01(> \lortt:at:ee acqtttr." thp propNt} other"",' aft." default, the \~lf(gag.'" ;J,all apply, at the time of
<br />lht.' c"omm('n{'t:"mt'nt of Slu.-h pro{'('-{'-d,"~"'" oi at uw tlmt" tht' prnpf:'rty I'" othN"-ISt' acquired. the b:llanc(~ th€'n re-main,
<br />lnf.: .n tfw funds aCl~umuialt'd und-N r U or para~raph :? prf'ft'(hnl!, a~ a n't"dit llr,:alO>.:;1 lilt' amount of prin('ifJal thf'n
<br />n'm3if\11"i~ unpaid und..r s;ud note. and "'h..jj prupt'rh adju:-.t an.\ pa\m('nts WhHh ...hall ha\(" be('n rnad(' undt'r fe)
<br />IIi paraJ!r-aph :..
<br />..: That the \to-ftcagur ~dl i'a,,- {:ri.\und rtnI':o_ t;n.e). Js\C'\\mcnt\. ......lIe! r:Hcs. ;Jnd other J:o\ternmtnral or muniCipal
<br />"harg('~, flncs. or lmpt.\~HI(\n... f..1r Wl.hKh rrl.)\'i~lvn hJ') not ttcen madl" h('f('lfltl(:'(Me. and In ddaulllhC'rt'td tht Mortgagee may
<br />r-a;v t~ ,arne. and that the ?\h'lft~Jgor "'Ill rr~Hnpth dc:hver tht ~,lTln~J CUCIPI\ !hCfd\lf tp the Mort(;J{:ee
<br />~ TI)(" MortgaJ,or wliI pJ)' JH l~uC'\ \L'hKh m~n h-t- kvtcJ upml Ihe ~!ortf:a~cc'\ mtere\l III ~ald real estate and Impro....e.
<br />menu. 3nd ~"htch ma) be Jt\<,cd up'Jn [his morti:age Of the debt ~ecured helC'V)'lout only 10 Ihe extent that such IS not prohihlt-
<br />ed f\~ :.l~ ~hld unl)- 10 tht rxtC'nl thaI w(h wdJ nol maKr thl\ h)an US-lHIUUs'). hut ~x.clud,ng any Income tax, St~te or Federal.
<br />lmpt..l,ed (In Mllrti38-C'c. and \1,11I tile the offinal rccclpt ~ho\\-Iflg '\ouch pa} ment with the Mortgai:C'C', Upon viola lion of this under-
<br />t3lmlC. iJf If the MMtg~'Sor I') pH1hlblted by an); IiI..... ntHoI,' o. hereafter .c,io:-lIng frl)m ra)'ing the' whole: or an)' portion or the <l{orC'.
<br />!laid ta.\e". l'r upon the retiut:nng i,,13n~' (our! decrC'e prohihitlng Ih: p3-}-'men{ by the Mortgagor or any Souch taxes. or if such law
<br />or decree: PHllldts ;hat an). amount so p;aid b)'- Ihe ~h)ftg..tgor shall be credIted on lhe mortgage debt. Ihe Mortgagee shall have
<br />the fttht to) gfv~ nlOet) U.1)<!io. "Hltltn nollce 10 Ihe O\\dter of the tnl.lllf,:.ilged prCOll\C'\, requlCing the paymenl or the nlOflgagt
<br />de~t If su,.h nohce be I.,<n. the .otd Jebt ,hall become due. vaYJble anJ collecllblt at the <<piralion of \aiJ ninelY day'
<br />~ thai shoulJ he rail 1,1 va} any .um or keep any covenant VrondeJ l'lf '" Ihl\ Mllrtg.~e. Ihen Ihe Mortgagee. at it' op'
<br />[hH"!. nla~ rJ}" Of pt'r1orm tht )3mt. and.111 e,ptnditures ~o m.:uJc sh311 be aJdcd 10 the principal sum owing on {he abovt: nole.
<br />..hall t'IC ~rcuft:d htrcbL 3nd shaH t"lear Intef~)1 at lhe nt-e ~et forth in !he said note, until paid.
<br />.. 1 h:il he hereby as!lI~n\. trandrrs .lna ~cts over 10 the MOrlg~~cc. 10 be ~pphed tOINard the payment or the note and all
<br />\l:mo; \tcured htreby in '.ur {)f a default tn the performance of ;jny oi the terms JnJ condltion~ of thl.~ Mortgage or the Soaid
<br />n~)tt. ali the tents. rr\-t'nucs and to'Offit 10 be dC'flHd irom the m..rtgagcd rrrmiscs dUring SUL:h time <1\ lhe mOrlga..-:e indeb:ed.
<br />i)t'H ~h3;a rC'OlJin unp:ud: and (he Mortgagc.( \haH h;,svt power W Jppoml an)' dgent or aitents II may deslrt" for the purpose of
<br />tl"PolltlOg utd pfC'mJs(:~ .;and (\f !CuttnllOt ~a.me and cQllc(lIng the rents. re\'~nuc\ ~tnd lIlCO.;IC. .:lOU II may pay oul of !..ud in-
<br />..:omC'S a;l C'xpt'nscs of repairing said rrrmises and necessarr 'OIlHnl"Slon~ and el:pcn\('s. Iflcurred in renting and man<lging the
<br />\.H!1e .md of (01ltCI101 renlals- therdrom~ Ih~ h3.lan"C' fCffi.ilHHllg. 11 Jn~ !\.I t-.c ;q"'pll('J IO~Jfl.llhe dl\charge of .;iud mortgage
<br />md('H-(dn~ss
<br />!! 'T'hat he .ill KC'Cp Ihe lmprn\t:rntnh now ('""Hog 1.-\1 ht,'f{'aftcr tfC'-...:leJ nn the rnortl::agcu properly. insurtd as m3y he
<br />required (ro-m Hm( to time hj fhe M(H{~JitC a~';lin..t h)s-s oj' tift' .\tJjj oth.er ha..arJ'L ca'Su~Joe~ ..!!1d (Onllnp;('nCle~ In '1uch
<br />;l.mOllllf\ and fOf sut:h pcfKKh a~ mar b(' required t-oy the Mortgagee ,wJ >1.11: pay promptly, when !.JUt. :my prCHlIUITI'I on !ouch
<br />lfl).ur.anct pt'o\')SHJn for payrn'Cnt H! whi-..:-h ha~ n.:H lxc:n m;td~ hCfClnhdp!c. Ail m....urance shaH PC carried In \"ompanic\ :.1p-
<br />rfOl.t"-d b) ;he )..tOftg-agct' and the' PC:lfICIC\ ..nd renewals thtr('(~f "h;xH x hdJ by the ~hHtgagC'c and h;,vc i.illi.lchcd thC'rcto fo'\..
<br />r>a~-,lJ~k- clav~u in h\vOf \,l( .and HI kun <\Cccplahlc Iv the Mort~;:Il!('(' In f ,('nl of Itl\J, Mon~agol Will gl\C inlm~\hate rllJtll.:C by
<br />1'JtiU) ttl I~ Mort,gaJ('(, \ldhl may make ptt-)-u( i,lr IOH If nt,lt maJc ptpmpl;Y hy M()f1~a~or, ;md cadl lIl\ur,Jnl'C" comp:lOY con-
<br />\t"fn~~~, hCfc.-ht atHhotiuJ and l.hrc;,.trd It) make p"\'fficnt ((H \u\,;h IttH \;:rc<..:lI)' to Ihl' Mortgagee 1Il:.[cad ilf \II the M(tfl~n.R(U
<br />.lnd lht Yrnfg.1l'tC' It.1tf'ltly, ind the lowranct p-rp,ctds, or any pat'! inCf(ul, rttJ\ ~ 3i'rhed hv the ~-torlh<lil:te Jllt~ npilPll either
<br />h-' i~ H'J-th:UuA ol :~ )j'ttlctutonCH ht"h"P)' \('i.-ufC'd or It) [he rt-'tl<Jra\l,,\H \If reran u! the Prul'l:"fl) JJrnagcd In (',,'cnl of fN~dl).
<br />~utt l'd IhJ~ murt-J:.olt;l:C' or tHhl'f Ifand(:f HIlide h_) Iht mOflga.scd rHl-flcnj' In u.lln~UI~hmC'nf of ih.c Indd.Hi."0nes.:;. \t"UH('U hereb)-.
<br />,tH fttt.ht. ltn"f' and U'H<'U'!it d Ih-t' Mt1.-n,3I!:()f tn ...nd tu ;I",)' IH\ur...rh'C rH-'hnr'~ then In fOf\.-C' ..tuU t:l\\ In dlt: Pllidl,I"tf (II ff.wtce
<br />~ tn,d il.\. adl.hh('''')a-i .and ('l,l1Iol'tral ~r(\mty ItH lhe pJ.ym!::.nt ;~-f the n,~I{' dC\-\..fiPC"\i ,\fHI ,in \llrl.'. III b{'t.'\~m' duc undef thl'
<br />tt'H.:;:n,~#(' !he' Mufl.:t....(\i otUhy ;l"'S~.th III tht- Mortg-ager <tH PWfll'j, r~"'cnue'.. h1jo,.dhn ~l~;ht\ ;F'hl hcnehh ,H:(rUln~ 10 lhe
<br />\.hlfl,J:.:t-.tf U!l:J:tt ..:t;f1-'t ;d!-d ..H l>>1 ~J~ e.;..::t ltiw(lt l,)q \-;l1d pl'("ml;.e:.. ....qb ;he nght h) l{'<;tf'''' .Hhl r(,(~lr! fo! the \M!1(' JnJ drr!Y
<br />HH'ft. k ~iH;J H\.dr-tHt4n(')\.1l" .dl hdnrr .JS ,afIrl dtf4iult m lh:: umditlHfH "I ihj~ m'Htj.:';I~~f. ,Hhj iOt "'hH(g_Ll!l:C~ ('fl,!:,> tkman-J, wr
<br />L'1 A"~4 a,{''''t'f It\) i-U'l;'hp-A.",-H'\(!nh v.-htn:dut .nul p......lblc. t->Ul \-hall ;<1)\ h... r("~:,i\q',J );J ~..~ jp ihl\ ,iHlt:nm{'"f)t 1\ 1,1 ;('lil'lln.llC'
<br />~~r14 r-t.~ ~J~<!( nuU .luJ ",(1tt4 U(oOA rdt,H-t ~1t thf~ mQ(fuat
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