|
<br />r
<br />
<br />A CWJ
<br />1I~~;t
<br />
<br />(I,) munth prior (I.) its due datl" tlie: annUallll(lflga(.:r 1I1S11I;.Jlh':~ IlfCmiul1IlI1 order It I plo'lidr su.:h holder
<br />with funds (0 pay SUdl premium to the Scclctary of llousillf, :H1U Urban Dc,!~jopl11elll pursuant 10 the
<br />Nationa! Housing Act, as amended, and applic.ahle Rrguhliinus thC'~cundcr: or
<br />
<br />C'
<br /><. '
<br />\
<br />
<br />Ib)
<br />
<br />If .and so long as s.;ud nole of even date and this H15trumenl are held by the Secretary of I-lousing ..ml
<br />Urban Development, a monthly charge !in lieu of a mOflgalie imurance premium) which shall o. in an
<br />alTlount equal to onc,tw.lfth (1112) of one,hall (ll~) per cenltJrn of the average outstanoing balance
<br />due on the note -computed without takmg Into account delinquencies or prepayments:
<br />A sum .qual to the ground rcnt'. if any. n.xt due. plu, the premIum, that will next b.com. due and payablcnn
<br />poficies of fhe and othC'f haz3H.J insurance cov-crlOg thc nwrtga~cd propclty. plus taxes and assessments next-due
<br />on the mortRagcd p"'p.rty (all as esti/nated by lite ft["fwagee! ks< all ,\1m' already paid th.refor divided hy thc
<br />nurnb'er of months to elapse before- one f1Ionth prior 10 ,he date when SUl:h ground rents, premiums; taxes ami
<br />assessments will b('come ddjnqut.~nt. such nuns to PC' held hy Mortf!agec- in Im..l 10 pay :Jaid ~ruund rents. pre.
<br />rmums. !axes and spec1al as.sessments: and
<br />AU paymcnts menlioned In the !W(' preceding S.ubsccllons of this para~raph and all payments to be made undt'r
<br />the notr ~l~WCJ hereby :s..haii be added w~t""(hef, Jnd tht' Jgj!rc!!Jte amount thC'rc()( ~hall he paid by the Mortgagor
<br />c3ch month ifl J sm~Je paymenl to be applied by thl.' Mmtg3gee to the fl)llowing Items. in the order set forth:
<br />
<br />'-'
<br />C
<br />CJ1
<br />()::)
<br />-.J
<br />....
<br />
<br />te)
<br />
<br />(1) premium ch:ug:cs UIH.lC( the (OnHJct uf lfIS1H'lHC-C- with the- St;.:rctary of H\,)uSTnI! and Urban Oeve-topmenl.
<br />or monthly ~harge fin !feu of mortgage in!uranr(7 premium), as the case may be:
<br />(fl) pound ffnts. lues, asseS-SInen!5, fife and lltheJ b.:1.;irJ Insurance- premiums:
<br />(lin lmelest on the note secureu hereby, .and
<br />(IV) amOHJI;JUtm of the pnnclp.a1 of S1td note
<br />..\ny dCrKI~nc)' lt1 the amount of :In)' such aggregAte nwulhly paymc.'flt Sh31l. unless made guod by the Morl-
<br />~j,gm rrio: to tile du.e date 'Of d-lt next such p.iYIllClll, I..-Oll1BlUtC an c...ent of default untiCf lhls mortgagr, The
<br />Mort-g.i"ee may coUt!(1 J- "late ch;uF:c" on! to -cxcctll Iota (cnu (-Ill) {Of c..h.:h dollar (5 I} uf c3ch payment more
<br />than fine-en (t 5) {!.W$ 1" :u:e.:us 1-0 cu\'er the ex:uOI (xpensc mvolVt"d 10 ham1Hng clehnquent pa)'meots,
<br />
<br />:1. That if th.. tolal of th.. payments mad.. by tl,.. \lortgagor undo. i lei of par3j;rllph ~ preceding shall exceed
<br />lht> amount of paymf'nt.s actually m.adt" by the "orleagN~ for rround f('nt,. ta\t'!~ and a.ssessm_.'nls or insurance pre-
<br />miufft~~ a~ lnt' ('IL""P mll) be. ~Udl excess. If the lO.J-n I... ("urrcnt, ;U Iht' option of the Mortgagor, shall be credited b)
<br />lht' \tortj!::lf!("(l' on ~Ub~N4Ut'nt pa)'fI\t'nl'i to be- mad(~ b)' thr "ortgagor. or n'(und<-d to tht' .\tortgagoc H~ how~\'cr, the
<br />"'....thl) pay..ents made hy lhc M"rtgagor under (I,) 01 p"mpaph ~ prect-dmg shalt nOl be sufficient to par ground
<br />n"f1t~ (a.XClol and &~Ses-sm-t'"nts nr jn~ufanc{' premium!"+ a5 th{' ru...:;;,C' may tw. .....h...n the samt. ~hall become du€' and pay.
<br />ablt'. th(lf11hr.- Mortg~Of shaH Pll)- to the \tort~Ol~rt' an~. amount nr-rf<ss.al! to makt' up the deflcicncY1 on or b"rorEa;
<br />thf" dul-t~ v.-hen paymr-nl or sut'h ~round ten~s. l;UC'S,. a.~se:-;~m('nl'" or in"'uran('(' prt'mtum~ shall be du(". If ill any
<br />time tn.. ~lortlla/l'" shall tender to the \lortgall"'" 10 a('coroance with the provisions of the nol.. secured hereby.
<br />full pa~-m-('nt of th~ t.'ntir(' indebt('dnr...... repre~t'nh.d Ihrn"'b: 1 th(' \tortll~l!~.t. ~halt III fomputin~ ttH' amount of !;:uch
<br />IIIdchtcdn~~'. crC.Jll to lh. .K,"CUnt 01 thc Mortgag", all ".n-mco" madc under dIe proVISIonS of (lI) of paragraph 2
<br />hN"t"-(tf v.hir-h Uu' -\ml(f!:a.A(<.' h:lS not hf-('o:n~ ()bb~atl'd tn pa) to thf' ~f"n.l:Jr)" of IlnusinR and Urban Development
<br />md an} haiat1('"(! re-mJHlinp; HI thl' f\lnd~ -'lc(""umubt('d Und('f tnr proviSIons of {6; of pafa~raph 2 ht'ft"'Hf. If thert'
<br />~hall bf" !l default undr-r an} of lhi' prO\-iSHlnS of thiS mor(~a;:.. r("-~uhi"~ in 3 publi<.' sail' of thp prt'mises covcn-d
<br />h"n-uy. or If !be M()rt~a!ll''' >cqult<'s th.. pfOpt'rt} othNwise .rtN d,-rall;l. till' \lortg;tgl'e sJlall apply, at tnI' lim.. of
<br />lht" ,'orn.mE>nceftlt"nl of 5ut'h pror-f't~dln~~. or at Lhf' llmt" th-r proV('ny I~ Oihf'r"'I~t> acquireu. the balance thC"n remain.
<br />fnJ! In Lh{- funds a(Tumuhtt'd und....f (6; of p)r<l~!;;lph .2 prN'l"dln~. a:-; a frf'"dt t 1f!31n~t t.he amQunt of prindpal then
<br />rt~:ilninR unpaid undt-r ~aid flaU:-. and ~hilH pmp-l'-ri)' "jdJu~t :in~ p~'ymt"nts ",hll.h s.haH h3.\'f' bet'n made under (aJ
<br />Hi iJlU~tBph 2.
<br />~_ :-hat the' Moftl.J.gor ....liJ paj' ..'"round frnl\. L~\t''', <i~~c-,\-mtnt~, 'W;s1t'f' r;tl('!t. Jnd urhe! ~overnme-nlal or municipal
<br />...haf~\_ 11M!. or W1SX"\-Sllh\ll\. ror ~'ht-Ch prO\iISHJO has. (it)! t>e.c:n made- hCftlIlhdMC, and 11\ ddault Illerenl the Mortgagee may
<br />r-3)-' the samt~.ln4 th.at tht- M1Jrtg.a~or "" III promptly- deliver th<: \~m'lat rcce'l'H\ therefor to th( Mortgag("(
<br />.5 TM AhJrtpiOf wi-U p.l)' aU l.lAC! WhKh may ~ l~"It'J upon thr ~hltlt:--J-iee.\_ tnttrC-'i.t In \-aid leal estate and Improve.
<br />l~nU. and "'hlch may he levied upon this mortme ur th. deht ...,"r.d h.r.by lbul only to the extent that such is not prohihit.
<br /><J t>v '"'" and <>nly tv the .u.nt that ,ueh will not ma.. thi> Io.n u,""cu.l. hUI "cluding any iocom. tax. Stal. or F.d.ral.
<br />imp(lM:-d \'1ft Ml}fttZl@:~. and wil! fHe- tht ol11cial receipt shmHttg i~H;:h p.lyme:nt \\'Hh the Mortgagee _ Upon violation of chis undcr-
<br />lakin,. or d u~ Mottpgt)l u prohibttcd by an).]a", now t.)f hereafter t\i\t1ng from fHI)'lng th-t whole or any portion of the afore-
<br />,aul tau.. ," upon the r.nd.nng vI ani _"urt d~"c. prohlh,ung tll. rayn>tnl hy the Mortgagor or an)' such taxe,. or if such law
<br />or d.cr.e p,,"Id.s that any .mounl so plld by lh. Morli'il:or ,hall be credit.d on th. mortgage debt. the ~hlltg.g.. .hall have
<br />thl' rigbt 10 live ni~ty d.ays' "'ul1~n Il<).-hc~ (0 lilt own~r of the OlOrlg3i-c.d prc-mls'C\. reqUiring the raymcnt or the mOrlgaac
<br />dcbl, If "..<" noticc be glvcn. lhe u,d debl ,hall beeomc du.. payable and coll.cltbl. .Ithc ..piration of said ntn.ty day<
<br />b. That .lIould he I.illo P<lY any <um ()t ....p anycoven8nl proy,ucd for rn thIS M<ltlgag.. then the Mortgalt... at its op-
<br />tIOn. may p.)' or petfcrm thc .am.. and .lInpend,lur.. '0 made ,hall be added to the princtpal ,um owing on Ih. ahov. not..
<br />,hall be ,"cured h...by. .nd shall bcar lnler." at the rat. ..t forth in th. \aId nol.. unul p3ld,
<br />7 Th.t he hereby assigns. Iran,rers aod ..t$ ov.r to the Mortgagt.. to he apphed toward the paym.nt of th. not. and all
<br />,ums ,."urco hereby in cue of a default 1ft the performance of any of .ht term, aod ,ondllio", 01 thi, Mortgage ur the said
<br />fi(ltt".1" (tit' rents. Ie-venu(! and _income- lQ be dcti\"cd Irum the lnCtrlg3gcd rrcmJs.es duong such time as lhe mongagt' 'ndebled~
<br />n(-\\ JnaU rernain unpaid: and the "fottgAice: s~U have p(,-,w~r 10 appOlnl :tn). otg.ent Of agents 11 may desire for (he purpose of
<br />rep.in", \aId pfcmiu!!. and I,)f rentin&: the $Mfle- and ..:-oJlccl1ng the re-nts. re\cenuc-\ and in~O-me, and II may POi)' OUI of said in.
<br />l:~)cnl"i ~1 t.\pcO-:le\- ...)f tt:pairing ~...id rremises and necessary commiSSIons and cxpe-niC~ Incurred in renting: and managing thc
<br />\aMt and of -t"oUectlflJ fcnlab therefrom: the balance remaining. If :wy, to Pc ~\rphe--d lowOlrd (he discharge of said mortgage
<br />,ndclotcd~s>,
<br />$ That he- ....di kt~p- tht improvetl1c-nts n~lW t1i~tlng Of hefC"Jftel trc;.:tct.l on lhe mort~J,:eJ property, insured as may be-
<br />t~Q-uitC'4 hum timr- to timC' Ol the Mt1rttt;.tgee- jiJaintt lo-,s- ny fire .;trld other halard'i. c3\uahte's and c(Jnhn~nci-es in ,uch
<br />amounts aflll for ,,,,,h pcriods a. may"" r.quir.d I'>y the M"'lgagcr and wdl pay promptly. when dut. any pr.mium, M ,uch
<br />t-nwnm('( -provision fOf p3fmtnt -of whidl na.5' 001 been made hc-fcinhdorc. All in\Ur;lnCC s.haH ~ c;1rt'ic:d in companicJ ap--
<br />pH"<<!>Y lllt Mortg"",c and thc p<,uetC.. .nd t.M..a!> thcreo! .hall hc hdd lw the Mortgag.c and have all"eh.d ther.to 10"
<br />~~~ da.-uu_, in f<lv(K of 3.00 m {"rm a~ccpf.abl(" to l~ M-onl.:Jj:.ee In (,>:'(ot of lu~s Mortgaa;or wtn give Immediate nnhct by
<br />m.d -kllhc M~~ wb~) may make proof vi f.ou d nut made prompt;}' h)' Morl~ag()r.. and -each lO'i.Utance co-mp.my con.
<br />.:-ttM-d n web)" Illtttorizcd ind dU-cdcu tf~ make r~Wm~nt (or Mh...h fOh ~!If(:"clty to the MortJ(J.~tc in~tca-u \)1 ((l the Mortga)tm
<br />aAll lllt MOtl.&tlP. jtlIntly_ ..ui the lo.m.nec pr"..eil.. t'r any patt thct",f, mal"" .pphed 1'>)' rho Mortgage. at lH opoon cuhcr
<br />h'~ t--,. rtdUCoofl_qf tbe- j-n4tbkd($cU ht:i-tby sN:urcd or to- the re~loralmn Of fepa-tt" of the prop~ny dJtnageu In event of fMCdo
<br />Wf. <>I,h", '"'"~ or "'her tran.!cf 01 Uti. Ill/he ",ortgaa.d properl\- In ollng,u,hmcnl of th. mil.blednc" secured her.by,
<br />;Ill I~L -tdk ._M tf\t-CltM ttf the- M()f1I~\'tf H'l and to 3!:lY in\Uf~n(~ f'Hh<:.c\ th('{l to ft:'"h'C' ;:,h;:dl P;'J:\:\t f,\ th.r. p-o-r.....h:l"\t"f (if ~nHHet
<br />9' TNtt ~'f'" ,,QJtt"'''\-~ a:rtd {di.llC'fJl \t('lHlly fm the fl.l_ymttu nl1hf' tt,~t(" dt"'~L.~nbt:d. ;nui ;~1I ~um\ 10 ot"t:om(' Jue- t/O(]tr thi\
<br />~tplt" '-h1: M.grl~...-Of tJttd,) ,\tiugn\ t(} It", Md-fft:l1l1tf:- ~n rrof-H't, ft'..(:'Hut'lo. hiyatoC\, j tgtlH .Hid ~cnchl" ;IU,'rlHng w tht
<br />"h'Kl(-.-' "'"~t -.an,,- atld aU ulf ~u..J .;;, !t.-UC\ un !iud -pftmi'5-t-$, ~ lth tht n~h! tn fC,:ty~'(' ;:;l1d rt'~q"H for th(: ~:a!Tl-C olmJ .t'l.~tj)I)'
<br />ihfj!"t H"-l~ fn4tfttfdflCU, U ..:-('U belat{ J" ,-ill" dt(;,SuK Hllnc- comlih.tm:\ --d th~.. m,'!lg:J~. Mld the ~hH!f.~rJ:>:'"t f':1..;'t\., tkm~nd, we
<br />ft}f _. _~<<<t'>vr-r ~1W ),u-{h .p.tY1htnh .htrt due bM p.YilhJt:. 11Ut ..hili n{)t Me r('f~nFtJ !-n h~ IJ,; 1 tot, a'\tf;:nrnOH ,"\ h. ittmm~ll!'
<br />,"'t...,,,,,..'lu.ll..,,.j .l><<lulW" rckn. <'I th.. m"ttJ!iI;.~,
<br />
<br />tqJ~).~:lolJM H'!:.l'iU
<br />
|