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<br />83- 1106664
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<br />(1) monlh prior to Us due date the annuaJ mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium [0 [he Secretary of Housing <lnd Urban Development 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 said note of eVen date and this instrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in lieu of a mortgage insurance premium) which shall be in an
<br />amoum equal to (",e.twelfth (1/12) of onc.half (1/2) per centum of the average outstanding balance
<br />due on dlC note computed without taking into account delinquencies or prepayments;
<br />(b) A sum equal to the ground rents. if ,ny. ne"t due, plus the premiums that will nexl become due and payable 011
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (all as estimaTed by the Mvrtgagee}lcss all sums already paid Iherefor divided by the
<br />number of months to elapse before one month prior to the date when such ground rents. premiums, taxes and
<br />assessments wi.il become deHnquent. such sums to be held by Mortgagee in trust to pay said ground rents, pre.
<br />miums~ taxes and special assessments; and
<br />(t) AU payments mentioned in the two preceding subsections of this paragraph .md all payments to be made under
<br />the not. secured hereby shall be added to~ether. and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the following items in the order set forth:
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<br />(I) premium charges under the (ulllracl of insurance with the Secretary of Housing alld Urban Development,
<br />or mOJlthiy charge {in lieu of morcgage insurance premiumj, 3S the case may he;
<br />(II) gTt!und rents. taxes., assessments. fife and other hazard insurance prcmiums~
<br />(Ill) inten.'st on the nme st"cured hereby: and
<br />fIV'} amorlizatJOII ot- the principal of Said note,
<br />Any def1cie-ncy III the amount of any sw,:h aggregate monthly payment shalL uniess made good by the Mort-
<br />gagor prior to the due date uf rhe ncx( sut'h paymclI!, constitute an event of default under this mortgage" 1he
<br />MurtgJgt."e may (oH~('t il "latel:hafg~" fin1 tn eX\.:l.'ed t"O"l ..:cnlS (4{) for cao::h dollar ($1) of each payment more
<br />rhan nneen (15) t1;:;ys ip .Hrc.us to 1.":t,lYer the extra ex~nse involved in h.lndlhlg delinquent payments,
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<br />'t That if tlw total of i.h~ paym...nb mad.- hy thl~ \lnrtgaf!urund(~r /1.,1 of paraA:raph ~ prN'pding s.haH exceed
<br />the amount or paymen(~.... actually mad\> by the -\Jungagep for ~round ft'nL.... taM~~ and a~:-;p.ssmenL" or insurance pre-
<br />mium~. 11:--. the ('~e may he, .~u(~h ex(.'css, if the loan tS current. at the option of [he Mortgagor, shall be credited by
<br />th{~ \tortAagee-- on _>:'ubsequt>flt pa.ym(~nt;.o-; to iw m..d,' l1y iht:1 "ort~a.~nr. or rt~funded to th(' :\lortgagor.. If. however, th~
<br />-~lOnthly paymti!Ots made by the 'lort~a.g{)t under of paragraph 2 prcc<--dmg shall not lx' sufficien( to pay groond
<br />f(>ftt~ ta...xe~ and a.......~fl'~;.;mE~nL, (Ir in~urart(.t.. pn"mlum~. ;i~ UW ea."w ma~' hI;', wlwn thp ~~tmc ::-ih~dl bt~(~ome due and pay-
<br />able, th{lu tht:~ \lorl~ag-or .~h31l pay 11) th,-" \lortga,L!\'t. any amuunl rU'('(~;..;:-,ary tu mak.p UJ) tht~ defid(>nt~y, on or befor('
<br />tht~ dau" Wht'll paynH'nC of :--In-h ~mund rt'nt-'. Ll.\.(',"", a....:-'f....~~m('nl~ tlf 111,'"iUranCp ~lfHmium~ ~tHdl be due~ If at any
<br />time lht. \Ionl!:agor ,:"hall t('ndf.!f to thf' \ldrtg..,-:g:(,-f'. in ~h.Tord:uH.'{' with {he pro\"i...ion~ of t.H~ nOle -st>(~ured he"!by~
<br />full f,urymenl, or thf' Pllt-in' i"d{'Oh.dnt~;-.:- f('prt~~pntPd tlwreby. tIw \k)rtgagN' :--.hall. in l.omputinJ?; thH amounL of ~u(:h
<br />inJebu.-dnc-s'!>o-, t:reJu w the .tln.:otuU uf (ht~ Mortgagor ,ill p.lymt'IHS nutie under lhl' pro\'ts.ions of fa) of paragraph 2
<br />ht~eof \\-hi<'h du: \-lurtJ!a~ct' has nul. ht"{'omt.. uhll~ullt'd to pay w Hu' ~'("f(.tary of lIuu:-linl!. and lirban Development
<br />and any balanct~ rt'mainin~ in the fund...,. aenJmulawd undt'r lh{. provision:-o:; of {f.'1 or pard~nlph 2 hewof. If t.here
<br />:-;hall iw a d('[auh und(>r lm~' of th~' pm\-i_""ion_'" of thi;+-: mortUi4!f" H'~ultin~ in a pubiie ,...;uh. of th~ pft~mbes ('o\'t'rt.d
<br />hen~by. or if thf! \lurt:f!:'\!!,('" J.{'quirp~ (hi' PWP('fl~ nth.:'r\\lst' after df'fault~ tfw \lurtl!agt'(. ...hall apply. at lht. tinw of
<br />Ih~ rommenct:meot tlf :-<U\'h pro{'l'pdlng~. ur at lht, time.' lhe flrope."rr.y 1,"'_ ulht~n\i;-;e anjuin..d. dw balunee then rpmain-
<br />in~ in tht.~ fUfHi~ ;le("umulalNt und\'r (: of pantJ[ra.ph 2 pn'('(-dlflt!, a~..; a eredil aga.il1~t (}lP amount of prindpal then
<br />rt'maininf! unpaid und{Or -aid noh', and ...:..hall prupt.rl~ ad.iu::-'l JJ1\' pa,~mt'nb \\-hidl ..;,hall han' b.'po math) Hmh~r!
<br />of par4J,!;r-aph :!..
<br />-to That the \-ton~;}g;,.1f "'in r3\" ~Hluno 1 <;;,nt... , i;l\i:-': ,\,,<>'(''!~menl.... \\.>lII:r r.\!(>. .ind l.lrher g\)vernmcnlal or municipal
<br />cha.i'gc~, flne~, Of impo...uion.-... itlf ....hlch prn..-I"lt>O 11..1:'>. on! heen made ht"H.'inr-elore, .JIHIIfl dcbult thereof the Mong.igee- may
<br />j1~lY the ...~tm('; uno that the \fnnga~tlr wdl pr\Hnp-ll~- (le!JVer the tl/lll'ial re,eiph therdl-tl' to the Mortg:a~ec>
<br />:'- The \1lm~;.t..~(1f lhi1! r.-l\ ~t!l Ll\t"... l.l,!ill.:h m;I\" tlc kVleJ upon the \-1ongaget:'\ inttre:"Jt in ~aid real t:~(ille and impruve-
<br />mt'nh. and 1,J,;-hich nl<i\. N: kvicd up\itllh,,, nwng.<1~t' (H Ihe Jebi t.,c\."l!red herdn-- {11m t.lnl", to the e.\tent ihat ~u~h is not prl.lhihll~
<br />i...d by i~~\\ ami \Hlh- W i~ t"-..tCnl {hill "!h.:h \I..ill not nu.ke thi" 1,I,Ul U..Uf!l}lhl, hut excluding ;,\(1'1- if}<:ome tax, Sldte or fedcfaL
<br />impt:~s.et1 t'n ~t..1rt~<1ge(, dIh.l \\-tll hie the l.fh'wI ft.'(:ript ..h()Ydn~ ~lh.:h p;tymcnl v. ith the ~-iong.a~C'e. l ipon viol.ltion of this under-
<br />t.:lkin-g, \.!r If the- Mnn~"t~i}f /". pr\~hihtlcd l't\- ;w~' j;n\ 110\\ (.,! here"lflt'Y n..,,>ting trom pitying tht.' WhO!t'-llf ilny portion of the' afore"
<br />..aid tJxe~, {If up(ln the rt:"nJt'nn~ t," ,10) \,'pun de\.:re~ prdllhifinp: the pu\.'mcftt hy tht' Mortgagor or any .;uch '~lXl~,'i, or if such h-lw
<br />\.If d~('ree rW\ j(.Je-s that ,.lO~ ;tl1HttHH "0 r:.ud ~\ the \kl"nJ.!agur ,hall he nediled un the' HWflgagc dch-L the Mortgi.!gc-e ...h<lll have
<br />rhe flgh. to give mOd) J..,\-". \Htllen Hl.ltK(' h,' Ihe (nHlCr of the m(~rtgaged pn:fOlSC)\, ITquinng the payment \)f the mortga)::c
<br />ueh(. If 5Ui,"h ,l()th,~~ he ~n\en, the :-.auJ J....bt ~hall Oe{.'i,lmC Jut", pu\"ahJt" and l,lIlCl"lltlk :tIthe expiratIOn of \aid nindy day",
<br />h. That ,hmild h.: Cui to pa; .U1\ "um l.'T iU;l::{'I an,.. L't)V~'n.mt prmiu.lI:d (Of il1lhi~ MOrIgage, then the r+,,1ongugee, ;l.t its ,lp~
<br />110n, !'U~y pay (l{ pt.'rform the..' ll-~ilTle, ~if1d:ilJ t''\P<OJIlUlC'" '>1.' maoe ...hall bt' added hl the principal \um owing on the atwh' note,
<br />..halt he M"i.'Ufcd hcre~~. ~md ~h~tn ~ar interC':st at the l'.tk ,cl fMlh tn the ~aiJ nolt~, until paid,
<br />.. Th.at ht: heretn- ...h:\i!tn~, tran'l'ft.~~ ;l!1d ~Ch o~er ll) the f\'hlrtgagec:. hi he applied toward (ht, payment of the rh.lt.' and all
<br />~ums sc.>cured hereby- in ('l!"e of a Jdauit to the rerturmant.'( of any l)f the ttf'1n:o. and ...-ondition... of lhi'S Mortgage Hr the saiJ
<br />fWIC. all tbe rcnh* n:\>t:'nue'S and income 10 be :len\"e:rl fwm the morfttagtd preml\Cs during \\h.:h time it:>. the:' m(}f1~gc indehted~
<br />ues.s ..halt remain unpaid: and the Mortgagee :.hal! hl;!ve puwer to appollll allY ~Igent ~)r ,-tgt:'nts. H ma\:' dc~irt' for the purp'-be of
<br />rcpalnn~ ~ld pfl:mJ~t"s i1l1O \)( fentin~ the '~U1lC i.1O-d l.:ol!cCiJng the rent~, rl~Yt:nue... ilnd in'-t)me, and i, may p;ly (lut of said in~
<br />('urnes aU e:\pcn~~ of rcp3mng ~Id prem.~c' and ncce!>''!oan: l;Om"lI~~lOn~ .ItlO t'xpt."n~e-:.. incurre--d in renting and managing rhe
<br />',,-iOle and \-1( J..:(~!k:-(ting retH3h. therefrom: the "alan~~ r~mainlng, If :tn)'. hl he applied row!.ird the di~chi1rgl' of ~;:\id mortgage
<br />lndcbtcdnes~.
<br />S. That he win keep the Improvements now ex.istlng ~y hereafter erecteo ,;0 the rnort~aged property, in'iured a~ m<lY hI?
<br />required ftom lime 10 time hy the Mortgagee i:I-!!am!l1 h)\\ by tife ,HIU l..lther hazards, ..:a~ualrie!\ and t'un(ingenocs in ..;,ut:h
<br />amounts and for SUi.'h perl\-td.!i a~ mil~' t'te rCtfuire-d ~y thl::' Mortgagee al!,j \IIiH pa~' rromrll~.. \;,'hen uue, ;.tOy premium.. on -'iu....h
<br />ID5Uf-aUI;C Pf\wision for paV.ffienl vf which has not been fnadt.' hereinbefore, AU inSUfan~t~ ~haU he (arried If) \:ompanics .lr-
<br />prO'ieG by tbe ~tortgagee and tbe policies -and renewals. thereof -shaH be held hy lhe Mortgagee- .tnd h~lVe aHm:hed thereto ios~
<br />P4tyuh!e c!aus<;\ in f"VOf 'Of llnd in form a~cep{abk to the Mort)l!agt'e, In eve-of of Iw.;~ Mortga~or Will give immcdiOlh.> n~Hkc hy
<br />lnai lo the Mt.l:fttl:-itJce.. who m:"y make proof or }os,:-,> jf not maue promptl, b~- ~'1(lrt~.tgor, .antJ cJ.l.:h iO\Ur;UKC (ornpany 'un~
<br />cemed l.\, he:rtby 4Ulhorlu-d and directed tu make payment fur ~tfch loss Jirectly to the M,)llgagee ifhtead !.If to the Mtln~l.l~,)r
<br />::inti tbe- Mor~ W1dd:)<-. and the in~urd""e pf{k.~-ecd'S, or an,' rart thereof, ma,!,' he ~tpp!ied hy the Mortgugee at it, tlfHlon eilher
<br />to tbe,ttdu,,'tioo of the iNkbtednc-M hn'e-by l\.tcurrd \If 10 the fe~h.ltation or repair of the prop<rty t.lamag-ed. In event of fore-d\l,
<br />sutc-_~ dUlMUt~-$n- olhtr tTzUlsfer (l( titk- '0 1M mortgagc.U prorerty in e.\tlt1Jtuishmenl of the jlldc:-btcdnt'~... ...((utt'J heret'ly,
<br />An rit-ht... title atttl mWeJ.-t (J{ .he MOflpg:Or in anti 10 any l"\.urance poH(le~ Ih~n in fOft.~e !\h~'i.H p.h~ to the l'Htfch;lJ'l,eI or g....UH-ee,
<br />~- Thaf'~~ ,and Ctlfhuera-l ~~ufj.)' em t.he p~)'me.nt of the fHolte d~scrir.c-d, ~i1Id all ~llJtb tn becumc due under th...
<br />11WftPa<<" the MPftptOf twte"-:y .4i~~Jgn~ to the MOft~,-e aU rtOfit.N~ fe\-emJC~, wyaltie.... dtilbt'!UUld ~nellt~ atl.~rUinR 10 the
<br />~...." Ut'fdef any -?JeW ,tit (JiI and ,a\ ka;,(';\ t," St\id pn::mi~s. ,,"'ilh th(: right It) l"C'-cei\-~ !Jnd ft:Ct"ipt !i:)f lhe same and :IPp-h-'
<br />l~ It.1 tmd ~M M w~ft ht-f\"f(. B~ nft~" default in tne condiuon!i l\f lhh morl)tagt':+ <-ifld the M()rtg.agee ma~' tkmarlti, ..tK
<br />It,,,,, -And !t:,',-''"'rt .dlY w-t,b PDyrn~flh ',!i.'hen liu~ and payahle, hUI ~hctlli rwt' he IT4ulred W hl do Thj~ (i\'io.~nf1\efll b lp Il.n1llIMlt'
<br />i<iM ~,t~ t\iJU.o.d void llt'f),ti n~J(,~k uf Ilu:';. moft~,
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<br />HUO!;11IlJM 19-1UI
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