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<br />(I) month prior In lls due dale the 'annual r'llhHgage inStjfanCf.' premium in ordt'f 10 provide such holder
<br />wi1h fund!i In pay ~uch premium tn the Secretary uf HOlJsing and Urban Development pursuanllo the
<br />National Housing Act, as amended, and applicable. Regulations thereunder; ur
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<br />(ll) If and so long as said note of evell date and this IIIstrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge !in/ieu of a mortgage insurance premium) which shall be in an
<br />amount equal to one-twelfth (1/12) of Olldlalf (In) per centum of the average outstanding balance
<br />due on the note computed without taking Ill(O acCoullt delinquencies or prepayments;
<br />(b) A sum equal to we ground rents. if any. next due, plus lhe premiums thai will next become due and payable-on
<br />policies of fire and other hazard insurance coveting the mnrtgagcd property, plus taxes and assessments next -due
<br />on the mortgaged properly (all as estimated by tire Monga;:ce! less all 'urns already paid lherefor divided by the
<br />m..lmber of months to <2'iapse before one- month prior 10 the -dale \vhen such gJ'f1unrl rents, premiums; tax_es"'and
<br />assessments will bcc~)mc JdlJ1qucnl, such ~ums to I'll' held by r...lortgagee In lrust 10 pay :said ground rents, pre-
<br />miums, taxes and s.pe(,JaJ assess:mtnts~ and
<br />(c) A.B payment~ mentlOned w the twO preceding suhsections '1..)( [his paragraph and all payments to be ~ade-under
<br />the nOle secured hereby shall he added te'gether. and the aggrrgate amounlthereof shall be paid by the Mortgagor
<br />each Il'lomn In a s-lOg.le p.aymt'nl t(l be applied by lht Morq~agee Hi jhe following items in the_ order set- -forth:
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<br />C\l
<br />o
<br />CJ)
<br />Lf:)
<br />o
<br />-
<br />'-
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<br />(I) premium charges undN the contract of instn:UKt.' with the Se::-n.'tary of I-hmslng and Urban [)cvc.!opmenl,
<br />or montt-Jy charge ([It (leu of morrga}!e insurann' rremiunI 1, ~;; the case may he:
<br />(II) ground rents. taxe~, as~C's.sm('nts. fHe and pillet hal.Jrd Hl~uran;,;i' premH1m$~
<br />(III) mtere~t on tilt' note ~cHreJ baehy; and
<br />(IV) .unOnil.aHOn nf the pn!icq:nl.l df-salJ nnh',
<br />Any dct1ciency in the amoum of ;w) such Jggi'cgate munthly paynll'HI shail, unless made guod by the Mort.
<br />gagof pnor 10 the due date 01' the next SUdl pavrncnt. C'OilstHute an event of default under this mortgage._ The
<br />M-ongag.ee may ;.;:o!lc-ct ;l .'laIC chaq!.c" not 10 cxc....cJ f<ll.:r \.:cnt~ (4{) lur each dollar (S I) of cach pay men t more
<br />than f1ft~n (IS) d:ys In arrears lO cov~r the extra expense involved in handling delinquent payments.
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<br />::L That if Hw t-OtaI of lhf'- payments made- by to!' \\ortga.gor und€..'r 0-,) uf paragraph l prec{)ding shall exceed
<br />the amount of pa)~m(-'nL';; actually made b~' the \1orl{zal!~p far ground f('nts, lax(>s and a~)Oj(>-ssmenls or insurance pre.
<br />miums. as thv ca..'5-e may !w. ~uch (,"xn~'ss. If dH:' IlMn t" t.urrent, .II ,he option of [he Mnngflgor. shall be credited b}
<br />!.he Mortgag{>e on 6ubse(1Upot pa~.m"nts in bp made h.. thi' \1ortp:agor. or ".fund..d tn th(' \lortAagor_ If. however. the
<br />(!lOf1(hl)' pa):m(mt~ -maue by the ~ioflFJ.gor unJt"f j i..~1 p,u,&graph :. pH.'l'nhng shalt no! h,' sulfl(.'u:m to pay ground
<br />renL, taxe~ and aStof'St<mt'nl:;; or mi-;uranCt' premlUm.,,-. a,'-' thr- ('a,,,;,{' ma) tH", \l,iwn lht. ....ame shall become due and pay~
<br />able, then lhe \1orlgagor ~hal! pa~- 10 the \lort~<lg\"" ;.tn~ amount lIl'('f'.--~ary tu maht' up t-h{' uefideney. un or before
<br />thE:> date when paymt'nt of ,~uch J.:tnllnd rent~. l:l\f":-, ;\"~~'....:"">flwnt:-: (It lfburalH',. pff'mium:-- ~hall be dUl', If at any
<br />(im(' the \1ortgasOf :--hall tt'ndl'f to ltw \longagl'(., III <I("(:onL,tHt.l' ....,th th(' pro\i:-;Ion~ of the n(ltl~ ~H'cured hereby.
<br />full payml'nl, of the t:nhn' indc.~btl'dn,'::--:-- r"~ln._...t'nlt'd l!lpn'h\, tht' \lur{!!.!j!I.t.' ~hall. in ('omputinJ! tht' amount or such
<br />indeb(c:-dne~~. \'redlt to the aeen-um o( tht: ;\1mlgat:,-H ,di p:.~'HlefH\'" llMd<.: llmit:!" tht, pro\-'t~lons of (a) ()f paragraph 2
<br />hereof which t-ht< \1ort,raf!(At- has tn)t bt-comt. ,.bli~ated to pa~-' too thf' ;-,("('r"tar)' or lIou~jll~ and t:rban Development
<br />and .an)' bala.nce n-.'mainin~ in th<:' funds :ltl'umul;Lh'd umit'r tht. PW\ i:--.iolls ('1' Hf paragmph 2 h~reof. (f there
<br />3hall b(. a default un(h~r a.n~ of Ihi,' pru\'l:-,ion,:,< 1)( lhi<:; ftHHtg:a~t. f(....ulti"g in a (,uhlir :-,ah' of t1w premisi's C'ovpred
<br />he-reb)', Of if the MOftgaRl~t..' 1U...qUUt'I:' tht~ prl)p,~riy olh('rwl"d~' ~-tftN dt,tault. tit(' \l(lrt~a~~_!e ,..,hall apply_, at the lim~ uf
<br />the- CO--n.tmcnl:~'menl of ~uch pro(.t't'l!tn~:--. or .H tht. 'itn~, th(' prvlH."Hy 1"'- lllh...n\-i~l~ ac-quin.tl. the balance then remain~
<br />ing in the funds .a.ccumu14led undt'r U of pata~raph :! prpn:'ding. a~ a {,h~di t aJ!<t.iosl tht, an\Oun~ of principal then
<br />remainIng unpaid under ~aid note. :.loti ..,hali ;lfI.lp.~th .HJJtl_"t :lny p,lyUWnl:--- \\hi('h :--hall h:\\'(' hr<cn mad{~ under fa}
<br />of paragraph 2_
<br />.J, ThaI thc MOr1gagvr V.llt pa} ,ghH.tlh.1 f~'nts, !.L\t'''. .i'\\("'''fHi;'Hh, \\;~lt'"! r,lln. <\nJ (llha gnvcrnmentiil or Illunicipal
<br />charges, nnc!!" (.l-llmpdMltt,tn>. for \l,-hKh IHO\-I\Wfi ki~ nnll"l.'ttl made hC'fC'luheiiH.:'. and llllkfiluli thereof Iht MOrlgagec ml1Y
<br />pay the !o4ffit; ;jod that the Mortg<Agor \\'lli prumrtl~ Jdn'C'f lilt' oHicwl rc\:etpl' th-crehlf IQ (he Morlgagee,
<br />" Th~ Mortgagof ",iil pA~. .Ill !;:.\n \\-hjeh mol'" N- leVIL"J \Ir(}!i Iht.' Mnng~igt:~'" 11Ifcle..,l Hl ",t,d real e\tale and improve-
<br />me-nb. and whleh ma} bt-Ic::\'u::d UP'\lO du) :nongJ.ge ('1 the Jeht :'I-~...ufeu here-by (hut \HlJ} tl' the e\.lent that such is not prohibit.
<br />ed by law :lrui only to lhe t.\tcnt Ih~t ~Ui.:h \I.-in not make thts. IOi.1O USUf}ouS-1. t'ut (:\.;:huJing ;.ln~' io(omc tn\. State or Federal.
<br />imposed on MO(l&ag('c, and will tilt the ulnclal receipt 5h,)\~iflg "ui.'h pa~'menl ....Hh the ~1M(g.agte. Upon violalion of thi~ under.
<br />talms. ur if t~ Mortgagl'r l!o prohlDllcd t1-~ ~n) la\\ nl'~ ;,)[ hCfCd!L;:-{ n.btwg hom r~l~ mg.lhe whole or any portton of the ~tfon~-
<br />said laxes, j.)r upon the re-nuerinll \)f an~ (('Un .;kdce pru;Hoillng Ill(: poil~mt:nl P\ the M\lrtg~tl:wr \H .in)' :-ouch taxes. or if such la\;,
<br />l\t de(.:rcc Pfo\o'hJe) that Jll,- anwunt \() p~lt1 ~j the- ~-tortg;-l;t\,lf "h~di t1t.' l.lt.:dllt'd till lht~ llh)rtl~A!;.e debt. (he r..hlrtg.lgec ~t};jll have
<br />the right to g.,,'c ninet)' d,l}s' \\-UUen !\(lll(t' t~1 lhe O\A,.ner ,\f the- lthHt),;;-tgeJ prl'n1hn, requiring tht.' payment of the mortgage
<br />debL If su,;h l\olK:C bt- given, the 5.lltl Jcbl ...hall toe":'_1lH\." JUt. Pd}',lhle ..II1J ..:~\lle-...llhk .lllhl" t\PH<.ltkHl of said ninety Jays
<br />6. That should be fait tu P~} any sum Of ke~p any c\.)\'en~nt pro..ldC',-\ flit if\ thi." Mortgage. then the !\-tortgagee, <\I i1S op-
<br />nun, nlil-)' pay ,)f puform the S-&Jli(. .and all c\pCn~.htUf(~ so made :shaH he iiJJCJ t...llhc prilKlpdJ sum OWiIlg on the above note,
<br />shall be secur~d he:re-b\'. :md shaH h<:.ar mitre'!.! al th~ r~de ~d fonh In the 'l--,Ii-d fl(l!e. until paid
<br />7, That he ber<bY assii"~, fritn$fers.~nd seb O'\tf to the Mong..igee, 1\1 be ;'-Ii)~\li~J It.f~MJ lht: payment t.lf the note:: and .\IJ
<br />sums. secured h~reby in ca)( of a dtfJuh in th<- ped\tfm-aHcC' ld a.'1~ fd the l~tln\ and ((lnJuiolls \)f this Mortgage or lh~ ~aid
<br />flQtt, aU the renh. rtv('nues anJ io\.'omc- III be derivt:'o from the' nl(lrtgJg(.~d rremi,,-C'\ J\lnn.~ ~ul..'h tIlne a;' Ihe m~..Htg~1ge indebted-
<br />ness \.haH r(!m~in unpaid. and lIlt:" \hl-rtgat:.ce ~haH have p...w,cr hI ;tppOHH an.\ a}!~Ht \1r ;j~...nh it ll1a~' Jc\ire lor tht puq."\()-:..t' of
<br />repalrinj sald premisC'~ and of renllng the s.ame and i.~().H('cting the rent'>.. rt'\C<HIC'\ .mJ lH..:,ln\C, ;Jiltl II md)' pi:lY ol1ll.)f '.:>aH.lIIl'
<br />come,s aU e;\.pcnsc-~ v-f reP<'iring ;)aid prcmi3CS and nccc:ssarl cummi~5jon... and. e<\p~n')e'S lfH.:urred m renting anJ managing the
<br />33iit"d and or coU('\;i:ing ft:fltais iherdrl,)nl. the baJan~:c rc:mainmg, if an)-. tu he applied hw,:ard (he discharge lIt said ffitiftgage
<br />indcbledne$$ ,
<br />8, That he \l'~n ketp the imp-ro..'tmCnh no\\. (:\.i~ti-Ot: vf hi.'re~h(,f t"re\..'!eJ ,Hl the mo-rtg~tged prl)pcrt~'. insured as may be
<br />rt,quilcd from time to lime b]' the MOr1gJ;ge( a};J:iH!>.l l~h~ hy iire and l\th~l halmJ\, i.:a~uahll,";, ;tilJ ...'ontlngen..;.e~ in 'ioui:h
<br />amouf\h and for ft-uch ptriod~ as. ma}' be required hy the- M'nrtgaitc-c and will j\:t~ promptly. when dut". any pre-cnium\ ~ln s,u<:h
<br />insu(ance: proviJion COt payment of wbK-O ha~ 0\11 been mad~ ~l(-f(lOhefor( _ A.1l lf1sur~tn'( :'that! he ;.:arneu in c:ompanle'io aI"
<br />pfo~fd b-)' the M-Q{1.~e.c and tile .pOliCK.\ and rc:ocwa!s tht,'re{lf .;;hl.l.H t'c held tw the MOrlg..\~e~ .-HH! have ;tltJ.(hed rhereto loss,
<br />paya.bk claVSf-i. in favO( of and tn form lil.>.;'eptable- t(f th-e Mong<.iget_ In (\'('0I..."<f l;J~s MOHgagm WID ~lvC irrunc~,hah: notic( b)
<br />mail to (he MortPlet, v.'ho- ma)" make pnh)f ,d Jl)h if t'HH n\;iJ~ prompt!) by \-h)rtg;:tgQf. and c.h.:h lO'iUfancC' {,.'{\mpanj-' (,:on,
<br />-ccrntd i~ Qteb-y 1I!uthUti-u-d an-d difC:~ttd to make payment (OJ' ~u~'h tos~ dirN~tty h-' the Mon~agef. in~lead of t\~ the Mortgagor
<br />~niS-ttM- M-ofl,.<, .totntly~:md the jn~uranc(. proceeds, ,)1 any pall t'he-H.'of, rHaj' he .1pplir..t by the Mftrt~ag~~ at it\ \lpttoU ellh~r
<br />to the tc4.u~l.Qf\ of lbe Ind:tblcdni!!.-~ ttcH~b;' ~l.'\,:ure-d or to the restOJ-a.W..n ,.r fep;;~H of the pl-opat;- l,bmajtt'd In event of fured,)-
<br />SUft oftbU JftOft,~e ot -o-tlwt tra:f\d~r ~~, llllr i-o Hte mortltAg.eo pt(lperly io t':t,ttngui...hme-nt of lht.' lOlk.bh:-unn\ I.,CCllfCU hfrd'"",
<br />aU tiJht~ filk an4 int~rn.l o( lnt Mo-r1gagol HlJ:UU to all}' jrhUHlt1('e poh;;i(~\ tntt1 m (M((' ,;,hajj r,-~\\ h' the pUh:hil'-l-t'l" Of ftfJ.nh.("
<br />9, thai ~s ilQQUio-nal ~(\d ('\;J'lla{O,d ";-(,':\.H~I~ for Ok." pJymt:nl (Jt the i'lplc ,!t:,....I.;iiheJ, ,lOt! ~;i ,"u;n!. l<' h:;':,,-\iJH' dut tHlllct Thl\
<br />mQttPl:f, the, Mt}ft_I3tl{H. ht:tp)- i1\Slg.l;; tt,.; {bt Mon.g"J8C'c itll prHtiho rl~\trflu("". li,-)~j!l-\>,. J-fl\~ Mt'f!t:'lih ,h.i...'fUHl~ hi the-
<br />)49'",*'-0:- und_~t an} 11Hl{} a_U o,~ .tHO jt"j.);.- It,h.t:. <~il ..-tuG f\[(rni\c~ ';-'"Ih the tli'tht ti\ I'Ci;:-t,l\':e r;:~-I.:wf hH (he :-,.~nte ..nd _appJ)
<br />lnf:m lQ '-lU ttid('bt~d~\;:'!. a\ ~i,dl P<f\Ht: .}'% ~tt dau!t in fhe\ ,1_n-.. ,A ~~m_; -.;\'\<'_\' _ ,H"'id \~,~~q?"I~h:(~ m<l~ .kru.J:nJ. ..u~
<br />h:tr .and,tf:~-uvct _an, \-ud't p"a~ iH-fflH ..-h('g tt ' r~).i:bk, hw fHll bl,~ ;~~q\ it.' d;,l .~~ ,!~1l11't.'n\ j... I,' lr;f:w~,d~
<br />~~nd ~tJ.._:t md1.;;.f'I1i1 h~-ld .H"4lH ';~;
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