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<br />. (I) month prior to itle a~ ~lQIQ,1r~a~~stlrance pren ':. in order 10 provide stich h..'der- ,
<br />83 ,-.,--J) (;5 2 2 7wit}~ funds to .ray SUCH pl'ernium [0 the senct<.a. ry of .HOl~sing JIId uro.a.... ..n.D... .e.,.v. e.'.'.lP. 01.. .e...n._ t purSUll'nt:to the '.\.-,
<br />- National Housmg Act, as amended, and applicable RegulatIOns thereund~,rtfrr 1" 0 f)
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<br />(1I) If and so long as said note of even date and this inSlTument are held by the Secretary of HousinK and'
<br />Urban Development, a monthly charge !in lieu ola mortgageillsurancepremium) which shallbeuin'an
<br />amount 'eqUal to one-twelfth (1 /12) of one,half (1/2) per centum oftheaverageoutstandmg balance
<br />due On the note computed without -taking inw.account _deHnquenci,es-:br.prepayments;
<br />(b) ..c\.- sum equal. to ~e groul~d rents', jf ,any._ ncX { due:, plus_ the pren)IUffiS t_hafWiihleXFbecorric,due;'and);nhibi~e_':-on
<br />policies of fhe and- other hazard insu-fance covering the mor!g~gcd p~operty .pjus:t'ax~s: al1d'aSfe:sSrne~t:~ '~~~'~" d~e
<br />on the mortgaged property (all as eSlimaled by Ihe Mutlgaliee) less all sums already paidthereforOiv,dedbythe
<br />nu~ber of momhs:~ to: elapse:.:before one''ffiOnttl'prim to the ,date when such -ground. rents';..~)r~miums;:';~~~$""~nd
<br />assessments will become delmquent, s.uch sums to be held by Mortgagee In lru'st. .to. pay' ;)ald .gr:ound, Jen:.tS~"-Pfe~>
<br />miums. taxes and special assessments; and , , . _. . '.' .' . '.' ." '" ;'," '_< ",' ;"'^--"~';':";".. ,-'
<br />(0) All payments mentioned in the two preoedmg subsections of thi~paragraphand alIpaymenlS1Q,bernllQ.ec,~111tel'
<br />the note secured herehy shaJl be added togethel, and the aggregate .amoUnt thereofshallbepaid.bYIIr"cMprtgq.iior .,..
<br />each month 10 a slOgle payment to be applied by the Mortgagee to the following items in the'(lrdep"",.rorti\:
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<br />(1) premIUm charges under the contract of Insurance with the Secret~ryOfHouSingiln~.Ur~a~;f)e~.,.i6rtri~Wi
<br />I)f monthly charge (!'!! !!i~U c{ r.~:or!;;a;;e h;r.1r;;~lr.' p:-emiiim),' ;is.the.' Guse iiJay~;.hei .,. ' . . .' ", - ~"'
<br />(1) g.round reo IS, t~LXCS, JSSCSSll1f.'rllS. Ill'/;'. :.lnd other h.u~nd it'lsurancc"p'rcUllums:'
<br />(lit) lme-rc.sl on the note secured hereby; and
<br />(IV) :lInonlzat:on of the prhlcipal of said noti!.
<br />Any .de~cjency in tht J.;noum of any such aggi ega H.' llh)mhly f-iJynit:t:d ;ih.&H. v.niess' ,mat.~e., 'good'::bY--:.:,~.h~:--M.qi~r
<br />gagol pnor [0 tht due dale of the next such paymC!.H.. CtHlslltule an -event of-default. unde.r:.-t~I~~:.f"-?r~g~gt~i;;,;-m:~t,'-
<br />Mortgagee may collect_ a "late charge" .not t.o {;,'(('cctJ l\ll;r ccnl~ (:li)..f,n':cach doUar (~"l.l91~".~ch:",g3.Y-t.ll,~~tjn~t}:;.:
<br />than i1fteen (15) ih::ys In arre:ns to cover the extra expense Involved Ul' handling- delinquent payme~ts:~'-" '
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<br />:~. That if lht" total of the payments made hy the 'lort.gagof,undcr. F \] of .paragraplt,'2 '({rece:4Jn?:'-~~a.i,1:,::~'~~-~d{'
<br />the amount of paym{>nL~ at;[ually made by the \Iortpagee for .l(round r('Or, ,taxes and :ass.es~~en'ts,::ot'..i)l,~ll!ar.
<br />m!ums. as !h~ {'ast>- m~y hi~~ sud'-: exc-cs's, if \h~-:- to.1fi ;:5 (iJL 1. <:it the'oprhlJ~.:.of.the,"M.Uftga~t?t~:,'s~a:l.r.:t '
<br />the Mortg3.fl('{' on subsequenl pa.yments io bt'. made by Hw ;"()rt.ga~or" Or r~funde:d. ,to the ,\f(iriga,~()r.~'.;.'--.If~
<br />",onthl)' paym.mls made by the Morl!(agor under! i>t of paragraph 2 precedtTIg shall nOllJesl.\fficiennopiir
<br />rt"nt. taxes and aSS{)S5mcnl.s or insuranee premium!", af' tht' (;a.-;,;{> may be~ \\hen the samf? Sh,an'bBoom,~~-,:d~e:~~i,}t!~~;.~.i~~
<br />able. then the Mortgagor ~hnli pay tu tht> \lorlgagl>t-' an) amount. ncet'ssary to m.uke up.,the_'deficie~cy,,; O_rt:~."~"~~.(~~~::~.f7"
<br />the dat.e wht!n payrnt'nt of .sut"h gmund wnt~. t-J.Xt~o-;. a~~:w~;.;.m(!nb or in~uranCt~ premiulTls sh8.1,L-be:'~lI:e~-, ~r-i::1\,~.:~~i
<br />Lime the Monga~or shall tender to th(~ .\IOrl~a.get'. in a('cortlanfe with th{~ pru\'l,~hms of Ull.-:no.:~,:s' -
<br />~uH payment of the r:-nltn~ mdt,htedn,':":'~ n'pft:~~t:.nh.ti llH'n~hy. nw ilort~3~N~ ~haH. in ,(;ompu~ing ~Ul
<br />mdeblf:dne-ss, credit W the ~lCCt)unt of tht., Mortgagor all paymems made- under the provtsioos ."t-{oj
<br />hereof which the Mongagee has ""t net'Ome obligated to pay to the ,"",cretar)'of Ilol.\$ingand Vrl1il1\.
<br />and an)' balance r....aining in till' fllnd:; llt('umullllt'Q nnd,'r thl' prov;,;ion:;of ibJ "f pa(,,"gl'llp",,2,herl!~( . ._
<br />,;hall i>e a default under any of the provisions of this mort):age resulting,n a public sllle offl1"t>l1lini",!-,sc.eol'.er.eci"
<br />hereby, or if the. Mortgagee llCqUI rt>s tht> pwpen)' otherw,st' after d.,{aul i. the Mprtglq(uc shalLappl~, l!.t.l.li~.,ti./1l.~,ClI."
<br />th.. commencen>enl pf such pruc""dlOgs. or at thetim.. th., p"'f,,,rty is t>therwis"acquir"d,.the balanee:.theJkrlf~'
<br />ing in the funds ae<.umul.,ed uod", . '.j "f paragraph ~ f",'cedinl\, aSa (,,,,dit "J4uinsl.the amooolofprioClj\'l\I.,~en',
<br />r~ain.nlo1, unpaid under said nol-e. and ~hail propNly adju~t an~' pa}m-ent.s whkh shaH ha.\~,bcen_:m:ad~"u~d~r-(-Q:J--,
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<br />of PlIJ'lSgraph 2, . . . ........ .... .......'c.i"".... .'
<br />4. That lhe Mortgagor ....'iII pay j(fI>und rentS, taxe". """SSmenb. waler rale., and "ther goverlJllIenl1il '.Qf..niunill,ipljl:";,:,,-'. ,
<br />charges, fine~; Of HnpQ~'tlon:i, f..)f \\ iuch.pto"I:'>lon h~ts m:_{ tl(:erl m.tdt: h~retnhcfqrc:. a~~nn dtf4t,dt}h,~e()f:-the\~.,~Q~\~~,;~ -
<br />pay the same; an~tbat_I~~,~~,:rt~~~~~H ~r~I~'p~~~e~:~~I~e,()It'~i~1 !..~~ir:S.I~elef~{.IQlheMo!'tll'~;, . ." ....,...,..,.,...'.. .
<br />5_ n~ Mc..~-c. ....... }-IA,! ...... h~,~~~ ..."i...u !Jla] ~ t\:Yf\;U VpVII Hn:,,-l'r-'UBPg~c;; ).I.~tt;-tJ:'~i.__m'.~Q. J:~I.,'-,C~~t~:::~il;Q,
<br />ments, and ",hich may be levied up.'n thi> mortgage or the deht,ecured bereby (bUl"nly 10 Ihee.xtentlhaliucllii~
<br />cd l>y law and "oly tll Ibe e,lent lhat such wiIJ not make lhi.l"all U,Uf!OUSI, bUlexduding.anyi"""llIe:!M. Still
<br />Impo~ on Mortgil&et:, and willlih: lhe offietal receipl .""wing weh paymenl wilh the MOrl8l\I:ee,Upol)viplali9notthi$.l!~ei,
<br />talill.. <l1 if Ihe M"rlgagur i. prohibited bl' allY la\\ n,IW <)f he..e~rl<l' ..xi'ling from paying Ihe .\lihpjeolanYporlioJ:lpfllie1if.oi~
<br />",id lues, Of upon lhe renderi.,g of any ~;'urt Je,ree prohibiung lh" payment by the ~hlltgallPrpr any' s"c!ltal\~..j)r.it~I.\IlIi.Jll\l(
<br />or decree pro~ide. Ihal any am,)ont so paid by Ih~ MortgagN ,hall be ct(,dited on Ihe mo..lgage .debt,lhe.Mortg..e~s"~!I.l\!lVe
<br />the riabllP gi~e mnety day. wriuen nOllce to Ihe "wnet or the mt>rt!:lli(<:dpremlsc., requiringlhepaymentof.tbel1lort..e
<br />d~"t.. If .su\.'O O\Hicc he given.. the S3ld debt sha~J become due. pl1 yabl~ and ~oaectibl~ ,at tl\e, expiration 'v€.".~l:!.idJlin~(:)'~d,~~,~.::
<br />{" That should he fail I" pat any sum or keep lU1YCQvenantpnnided (or in this Mllrlgalle, Iheel) lhe..~orlIli'llee.;CatiISOp-
<br />tioo, may payor perform Ihe same, anJ all ..penditures so mad.. ,hall beadJed t" the prindpal SlIm owing 011 the' above DOle.
<br />~haU be scruted he.ret-}', and shaH bear totcre-sl-3t the :at~ ~et f(IIth in the said nOle, until paid.
<br />7 Thai be hOleby assigns, tran.t." and sels o'.er tu the Mortgagee, h> be applied toward the payment pflhe;Dote~ndaU
<br />sum!> UCUfed herebY.in ca~ of.2 Jefauh In tht perf()rma.nct iJf .-:in)' of the terms' aod conditions.of thi~ MQrtgagt:'.;or:tb~.~Wd
<br />rune, aU the re.nts. tc-wcnue-s- JT\O in(:onlC' 10 be derived from [he mo.rtgaE:ed pH'fllt;\(i duong such time a.'i th~ mort~ej~~~ed~
<br />nts.s. ,s.~aU I(mam unpai.d~ and the ~tortgdget shaU have power to appoHlI <in~, agent ()f ~enls il m~y desire for ,lhe.,purpose.:of
<br />repairma said pre~usc5 and of renung the .\.3rne :and coUe-cling the- fentli~ n::\'enue~ and Income. and it may pay oUI,of ~.d in~
<br />\,-:-omes aU tApen-sel, of repairing said prelUls.c) and necessary cam.mJs.sion,> and e,xpense~ iocurr~d. In.,r.enting and managing"the
<br />~ame an,4 of (oHectine; ftnlals Ihcrefrom~ the ba!an~( remainiog. if an;-" W be applied tow'ard the discharge of -s.aid mortgage
<br />lnde~tedne"
<br />8, That f\(:, Win ktep the impHJ\'t'mcnh- ni)\l.' ;;:).i...ung ~n hN.;..~f!ei ttt.';.;-tt'J (lfl the Ol\.}rtg<1~cd pwpcrq-. insured a~ may'be
<br />f((fuired .fr-Gm time to .time hy- tbe MOf{g4gee,' agamsl h..'fSS, by fire ~nJ G[~cr hOil..d.rds, (:asualti~s, ,a'-h,Ic,L)ntitl8:~ncle$. Hl.such
<br />.mPtlnts and foquch periods as maybe required by the Mort>!ag.. and w,ll pay !'fomplly,.....h.n due, ant' premiljfl)s on such
<br />1!l$l.\ra",.., pro~iSlon for payment or ....hie" has not been made hereinbeh,te All insurance shall be carried in companies ap.
<br />~-Q\:"e4 r-y the, ~iong.l&ct -and tl\e pi)Hci~s dnd renc.w.al-s thca,u( ~h~tH he heiJ hy 'he ,\h.Hlf?agcc and h.a;,t aU~h;hed thcret~~ lou
<br />P;'):,ah~ clausc:$, -in {aio'\.>f i,)! .;ind;o fOfm :;,,;ccplable!.o lh( Murtgagee, in li'\'t:1'11 of /.:;)\;,. Mong.;J:jlQI' ,will ~ivt:' immediate f\otl\;e'p')'
<br />maiHo tbe, MC)rtPi<~-. ""hi> may make Ni:)(.! {)f k'.Iii.s. if not "Hide pl'\JmpH)' hi Mqcttt-agl,lf. ;.,l.l1d t~(h iIlS\HitlH."C cqmpany con,
<br />cerned.i' herehy autho-rjl.-ed and djrt'oed to make:. payment In!' SH\:'h k'lS~, J.irectly tl' the' MOftF-aS-C<: m~lc-ad of l0lhe .Mlirlg.ag(l{
<br />.~d the MQrIP&tt Juin.li}'. and ftle tftsunm_tc pro(ce\h, ()( any fUl t (hettuf, may be ;,ppl'I('J ~y the M.)rt~agcc ~1l its. Optton tlthtr
<br />'<Hilt re:d~i,:t~)t\,of lhe. m4ehlt)d~.,~:s oCl'cb~ se(uf~d Of to the' rt'tit,1r-4ti':ln ut' {e'p~lr ,,:f ini' J'ima~t:d, In eVent (..f fore,}o,
<br />nut 91 .Ilt~ nh)rtpar v~ other Ua(l\fef \~( Hd.c ti.l .hr-. fl)tiflgag,cd propel'! >' III t\htl~tmhmc11t the ini.k"tednC'.~~ &c..:ureJ hcn:by,
<br />iH r~t" !ilk 4,ndinh~a;\'i (l.r tht, MOHg4Jtor in ,',lnJ !il an)' in:.Uf'.'1JI((< r~}h"i(:\ ihen In for;';.t~ ~h.~H P"l~'l>- if- ~he ~~t gr.nilC:~'
<br />t} "T'tu.t a,~ -<<J~.h.lw.mtl anc\.I f01l..1cq! .H~i.~m;ly tilT the J:7i'i\:, lJI-tnt \If the ~k""t;l>.t'J. j~n~j ,~H ,~ph k' duo: \.HJi.JU ttw;
<br />rrH')H~&e", the .MOnt;A~':1r hCIt!))' .iO\f;;::a:" fh ~~ ~c1} pnjfHi., l("d'HH,~-.
<br />MunPi\~~ ,,~fid~{ ~tl)- oli'tid un \.~lJ i:i:afJ 1(:.J\e~ Ot-.
<br />lht:m in li.i~ '!-ri-d<l\tNh1n\ ;,!->. .....'d-!'
<br />ft)r,a.~tt",~r""d ..b-i.Ji
<br />~~ ht<Vll'it fluJ]
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