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<br />... (I month prior tnl ue &flit the afl'n a"'rrlorlta~fr(sUl<lJ)Ce pren 1 In order to provIde such n.l~er,
<br />83 -JJ u5 2 27WJlh funds to pay SUen premltJl11 to the secI.etary of Housing and Urba.n .D. evelopm.e.nt pl1rSU&llt~e..,
<br />- NatIonal Housing Act, as amended, and applicable Regulalions thereunder~rI' n;'l .. .
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<br />(II) If and so loog as said note of even date and Ihis instrument are held by. theSecreta~ of H()u~il1'g;antly
<br />Urban Development, a monthly charge (in lieuofa mortgage insuronee'premiumtwhichshallbeii)'llik
<br />amount.equal to one-twelfth (1/12) of one-half (i/2) per centum of the averageoutst;lltdingpalilnte
<br />due on the note computed without taking into aCCount' delinquencies-or- pre-payme:n'~S-(,- ,'.'_' _; _co" ':~_-:~':-,...-,_,i,_:_:-;(-,_:~
<br />(b) A sum equal to the ground rents, if any, next due, plus the premiums that wiHnext beeome.dueanq.,,~yabl~,'?n'
<br />policies of fife and other hazard insurance covering lhe mortg<lgcd property, pIUS-l<rx:es and_'~S~S~fI1e-~t~:__,ne,~;t,:;\d,,~:~::<
<br />on the mortgaged propetly (all as estimated by Ihe Murtgagee) less all sums already paidtherefofdiviqedjliY'l!1~)"
<br />number of months to eiapsebefore one month prior to the dale when such-grotind-':re-nts;'prem~~I~s~-,lilXr~s~,~ti?-'
<br />assessmellls will become ddll1quent, such sums [0 be held by Mortgagee in trust to pay .iaid -ground;~r~nts,--.--pr~4
<br />miums, taxes and s~ecial assessments; and: _ _ _ _"_ _ :',_' :=--_,<_,,':;"::i;-'-:-_;:~
<br />(e) All payments menlloned in the two precedmg subsections at' this paragraph and all paym~nlsto.bell:la~e''''!la~t,.
<br />the nole secured hereby shall be added togethel, and Ihe aggregate amount thereof shall be paid by theMortgagor'
<br />each month in a smg.le payment to be applied by the Mortgagee to the foJlowing.' items ifl',the,:-order -set'-forth:
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<br />(I) premiurn charges under the contract of Insurance with the Secretary of Housing ami- Uf-i)-:iri':-,[kvefo'p_;'e'ni.~-
<br />or monthly charge (in lieu of mortgage insurance premium), as. the-case may be;
<br />(II) g.round rents, taXL'S. ilSSCSSllll'llIS, file and utllel hat~rd IllSUrallCt.~ prcmiums-~
<br />(III) mterest on the note secured hefeby: ;mJ
<br />(IV) Jmorliz.ation of the prulclpaJ of said note,
<br />Any defiCiency in the amount of :lny such aggregale lTH>lIthly payment shall, unless made good by- the;-Mort;.
<br />gagor prior to the due date of the next such paymcld, ('ollstitute an event of default under this-mortgage_~ c.The;
<br />Mortgag.ee may (ollt'ct a "latc charge" not to exceetl IOl;1 cents l.t~t) -fOf each uollar ($ I) of each payment Iilpre
<br />than fifteen (IS) d:::ys If' arrears to cover the extra expense involved in handling delinquent payments,
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<br />:}, That if th~ total of the payment" made by the \IMtgagor lIpdPr i of paragraph 2 prec(>dingsh..\1 exceed
<br />the amount {If paymeni's actually made hy the :\inrtg:ag~e for ~round >i.,~, taxes and asseSSments or insurance- pre-
<br />miums. as the- ('<L",{> may he. such excess, if the loan is current, ,H the option of the Mortg,lgor, shall-be credited-'b>
<br />the .\lortga~('(' on sub::::.equelll paymenb LO tH> madt~ by tht:> i'\1orlgagor, Of f{"funded to t.he \lortgagor. If, however, the
<br />monthly paymenb made by the MOrLgagor under t /;) of paragraph':: preceding shall not he sufficient to pay _ground
<br />rent. taxes and a;o:~e~sm(~nt:-; or in:-:uraIH'(' prpmiuOl'-:, ;1';; tilt, ca~t' may lH.', \\'1It'1\ the same ~hall become due and 'pay~
<br />able, then thp \1ortgagor ~hali pa~ to thp \lortgagl't' an) amoum nt}('('~~ary to make up the deficiency, on or before
<br />lhe datt\ when paymf'lll of ::mch ground fPn1...;;, lax{'~, a:-:'~('=-,=-,nH'nt:--, or in~ufant'{' pn'mium:-- shall be due. If at any
<br />time lhE' "ongagor shall tendl\r to thl' \lortg:.igel'. In a(,l'ordant'(' \\'ILh the provision:::; of the note secured hereby,
<br />full payml'nt of the pnlin' indl'btpdnl'-:-- f{'pn-"sl'ntpd thl'H>by, Ihl' \\ortga:!l'(, ~hall. in l'mnputing the amount or such
<br />indebtedness, credit to {ht' account of the l\'toTigagor ,lll p,lYlllenls Hl.ldc under the pn.)\.isions of (a) of paragraph 2
<br />hereof whieh the ~lorti!!agee ha~ !lot bt'l't)mt~ obi igatt'd to pay to Uw ,-,eeretary or Housing and Urban Development
<br />and any balance remaining In lh\.' fund:-- ac{'umulated undt.'r lh(' pro\'i~ion~ or ((,,I of paragraph 2 h(!reof. If there
<br />shali be a default under any of the pf(ni~ion~ of thi~ mortgagp r('suiting in a public salt.:' of the premises covered
<br />hereby, or if the Mortgagee acqurr<'~ the proP"'t)' otlll'r\'"'' aftN dt,faull, the ~Iortgagee shall apply, at the time of
<br />the commencement of such prol'ce_din~~j or at the I inn' ttH' prulwrly i:--> ollH'rwi~t, acquired, the balance then remain~
<br />ing in the funds accumulateu under n,! of para?!raph :? prt'('pding, as a credit against the amount of principal then
<br />remaining unpaId UIuJ\'r :>:J.iJ HoIL'. .1lHi _....h:.1i1 ~_:nupt,lh ,11..1)11.-1 :10\ p'l.\mprj{,~ \\hich ~hall h:nt> b('pn mad(. under (a)
<br />uf paragraph 2.
<br />4. That the Mortgagor will r-~) t:lLlunJ rent:-;. t~P\.C:-'" i.1$..,t:-'i-~menh. \'~Ht..'r rales, anti other governmental or municipal
<br />charge\. fines, or imp0SHil.)O~, fl)[ which proV!;ICm h.l~ nnt Dt'en rn~1Je hert:1flhel;,'re, and in default thereof the Mortgagee may
<br />pay the- same~ anJ th~t the Mongagur Will promptly deliver the l.fh..:w.i ft:-I:t:-lpb therdor h) the Mortgagee.
<br />5. The Mortgagor wiii pay alltaxc.. wtw:h mJ;~' be levied upon the Mortgagee'S intcreSI in said real estate and improve~
<br />ments. and which may be levie'd upon this mon~agc l)r the debt ~e\':ureJ. hcreh; ibllt only to the- extent that such is not prohibit~
<br />cd by Jaw and onh- to the e.\lcnt that such "illlH\t f1ld.kt' thi, h1;.1I\ u~un~IU~;, hut excluding any income lax. State or Federal.
<br />imposed on Mortgagee, and \\ ili iile the oflll.:tai re-ceipt shO\\-ing ~l.lCh payment ~'Hh the Mortgagee. Upon violation of this undc:r~
<br />taking, or if the Mortgagor is prohibHcd by .1I~Y Ja\\-- fltl\\-- l)f hcrt'.dler o..i~ting frlull paying the whole or any portion oj. the afore-
<br />said taxe~. or upon the rendering llf any (OUn J.:nct' pr'-hibIlIHb the ~uvment by the Mortgagor or any ~uch taxes, or If such law
<br />or decree pft,)\-ides. thai any ;,Jmnunt ~0 pa!d by th.c Mortg~l.gur :-.haU he I.'l'eolteo l)!1 lhe nlOrtg(1~e Jel:1t. the Mortgagee shall have
<br />lhe right to give ninet)' Jays' ,"f1tt~n ntJtI~e h) nIt:' O\\,ncr l)f tht.~ mortgaged rrt.'llll~es.. requiring the payment of the mortgage
<br />deht.lf sut.:h notice be given, the ~aid d~b[ shotll net..:I.Hlh: JUt, p~1.Yi.1ble .Jntl":vlll'.:tlhh.' at the c:\pinllion l}f said ninety days.
<br />6. That should he filiI to pa) an)i slim Of keep any C()\.-'tmant pw\.iJed for in this Mortgage. then [he M,)ftgagee, at its op-
<br />lion. may payor perform the same, and all expcndi[Urc~ ~)\) made ""hail h(" aJdeJ t\.1 the principa.l ~llm owing un the abovc note,
<br />shall he secured here b) . and 3hall bear int~re:-.t al the f.de ~r:l f(lrth 10 tht :\~!id Twit, until pJiJ
<br />-. That he hereby a~s.ign!), transfer\ and \eb O\("I k\ Ihe: ~-h)ngagt:e, h) bi.' applteJ tll\\-arJ tht.' ra;.-illcni of the Iwle and an
<br />..urns ~ecured hereby in case of a default in fht.' pc; L'flllan...:t' of ,\n~ \)f lht" (I.'fill" ,lnd cnndltion\ uf thi;; Mortgage or lhe 'l.:li<l
<br />note, aU the rents, reVenues. .Hlll mCI.\llIl: h) tw JerlveJ frlHn the nll\nf;:l~cJ prl.'mhl" ,-juring ",uI.,:h Wne- ,I~ tht..' IllGftgdge indl,:breJ.
<br />ness. Sohal! remaIn unpatd. and the ~liJrtg'I~.cc- ~hal1 h~l\t' P\..H"l.'f t,-, ,lp.p;JIiH ,W)- ,It-:t.'nt ~.r ~lgt'llh It fll;,~ Jl.''\trt' tor tht: rurr~)~e nf
<br />repamng saId prcnllse~ and u! renting the SJme and ':,Jl!('(Ung tht' re,lh, I~Venue-\ J.nd irh;IJme, ~lnJ It rna) pa) out of said tn-
<br />(omcs. all ex.pense:. of repainng saId prcmi:.cs and necessar! ;';\..lfnmlSSIIJm and c\rcnse:-. in(urrcd In re-nting and m.anaging tho::-
<br />~ame and of collecting rentals therefrom, {he balarh,:e remalOlIlg, if ~lH}, tp he J.rrlit.'d w\,\aru lhe dl.......h;lrge \',f ~alli flh)ftgage
<br />mdcbtf:dnt~!I.
<br />~ ThaI he \\ilI kecr the ImtHl1\\?:ner.t\ no\>, 1.''\1511ng \H here."fter l.:lt..:!t.'J 1!1l.' m,'llg~l~t..'d p"lpCll\ HhUf~d.1, m;i\ he
<br />required from time h.) lime b)o the ~hHtg;\gce Jg~ln:'.:I kiSS b\ iire ,mtJ oihl.., h~!l,.HJ." I.:a~u.dll('.. ,lnJ c~\n(illgen(lc:>, III ~u...:h
<br />amounu. and for such periods as ma) he ft'quired l1y the MortgJge-t' <.J[jJ \\ in pa~ pflllnptly, \\ b('n OUt.', ;Jn~ prelllnJnh llO :'.u;,,:h
<br />ins.urancc proviSIOn for payment of which has. not betn made hert'mhefpl e A!llll..ur~lI1(t \l1all be i.::inieJ in \"'omp~H\ie" ap-
<br />pru....ed by the Mort~agee- J.nd the rolll..'IC:~ ,lOd rcoc\\;ils rnt.'i'e-i.1f "h;il! ht' ht'kl h\ rh..." \!tlflt-:.I/;:t'C :wd hil\t' ,'\ll.I\:hcJ Ih~rcto 10'\)
<br />p;ljablt c-bwses In hHH (If .H\J in fnrm d..-':lTt~lhk !,-, the \hm~~lgee ill o;:\,;nl "f itl,>\ \longag\ll \lili gi\c llllllH'dw.tc fwti(t.' b\
<br />mail 10 the: Mongagc:t. who ma} make pn.Hl( of in.." jf Hl,t m;uJe pIlll11pli\ 1-" \tlll't~;Jg\lf .lnJ t.:,I..:h ithUl,!lli..:<': .:nmp.II1Y (nil
<br />(crned h hereby authorized and dilc....lCd \(l make p,lymenl fUI \\,..:h !~,,,.. dllcdh l,) the' \1oltg~,lt;ce in...k~IJ di II) the Moiligagol
<br />;t.nd the Morti!-3gcc Jnintl~. .tnd the il1...ur.tn..~c prui:etJ~, \)f ~n~ pdr! :hCltld. l1l"I~ ht' .~pr'li(d h, thl.' \tdt~"e;.U,'.\1 ih t).plhHl cithl'f
<br />to the reducllOn of the mdehtt.'dne~\ helch 'J,C\,.-Uft:J Dr it; the !c...i\'~r;'llli.)f1 ur I'cpaU \l! lhe p,\-lr\i:l t_, d,\Jll;ie:\.~~i In l'\cnt I)f h'fl:..::h'
<br />\-ure of this mortgalitC: (It other lan\fcI ui wit:- tl,) the nwrt~ag.l"J rH\lpCn~ l!\ ntm~ul"IHnt.:'nl \'1 the ll)dch{cdfl{.'~\ "tcU!t"J httcl:!~,
<br />all n.ht, title .;soJ ll\k:t':,t d the t\.1onf):..I!-\ur 111 ,Iod tn .in} IH\llLI1H t' lil\'ll ~n hl.t. ...::,dl p,j\\ l,' l1:c PU!~ h.l\/:: ,ll ~;LlI\!U
<br />4 ThJl "I'> ..JditH'oal an;.l i..\I\l,llc: ,ll "'~1.:u!ll\ f\\1 !ht' p./," 111;:01 the- ()'.;[~' Ik"~i\:\t'd '.,!'H\ f", ht ,\'!1h .Id;:' dilll:. 1~;"
<br />flH,lnl'~\gt. tht: MUfllt-<it~i.l! h~r(t-'. ,!\',l~ll\' It, lhe \1~'11~':~1~':l: :'H,t:h 1
<br />'f{Jrt~ai(H unDes ,lIHl ;dl ill; ,PHi b:'-;) It'~ll,ts- {'1i \.H,~ j'
<br />!henl Hi .....lId ,t;, '-~ e;; bdi'l (' ,~, .:fk: d-t.'/;nd,
<br />l{li' an,;J 1 t": ,}\ ('; ~\h!; p.l! ~\. hnl dHf ,\od
<br />omd fotl.qmf nuP ~,'h..l ilr~'''' .f f);h ijh'1 !i':';",
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