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<br />(C) month poor to its due date the annual mattgage insurance premium in order to provide such bylder
<br />with: funds to pay such preen#um to the Secretary of Housing and t;rban I)evttopmert pursuant to the
<br />Nationa# Housing Ace, as amended, and applicable Regula[ions thereunder; or
<br />(II) If and sa long as said note of even data and this instrument are held by the Secretary ref Ho+uing and
<br />lJtbart:I?evelopment, a monthly charge fin Fieu oj' a mortgage insurance premium/ which shalt be #n an
<br />amount e~~~# eo one-twelfth (1 jl z} of one-half (l jz} per ccntwn of the average outstanding ftalance
<br />due an the note computed without taking. rota account delinquencies or prcpayrnents;
<br />(b} A stun equal to the: grauntl rents, iF arty, next due, plus tPte premiums that will next become due and payable an
<br />policies of"fire and outer hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />orr the mortgaged property (at! as estimated be' lire .rr`rorz~agee) less all sums already paid therefor divided 6y the
<br />number of mouths to elapse before nee :ninth pdvr to the date when such ground rents, premiums, taxes and.
<br />assessments: will become delir:gaeat, such sums to be held by Mortgagee in trust. to pay said ground rents, pee-
<br />mitrttts, taxes and special. assessments; and
<br />(c} All:gayments mentioned in the two preceding subsections of ibis paragraph and al3 payments to be made under
<br />ttie Ware secuted'lrereby shallbe added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month #n a s#ngle payment to bt applied by the Mortgagee to the fallow#ng items #n ttre order set forth:
<br />(l} premium charges under the cartract of insurance with the: Secretary of [-lousing and /;:ban Drvekopment,
<br />or monthly charge (in lieu nJ mortgage insurance premium), as tit, ease may lee;
<br />(I[} ground rents, taxes, assessments, tzre and vther hazard insurance premiums;
<br />(III} kntarest on the nose secured hereby; and
<br />(IY} amortization of the princ7gal of said nvtc.
<br />Any de£aciency in the amount of any such aggregate moat#riy payment s#ralt, unless made good by the Mort-
<br />gagor prior m the dos date of the next. such. payment, amst#tute an event of default under this mortgage. The
<br />A4ortgaget Wray ccaitect a "late charge" not to exceed fear cents td>x) for each dollar fSl1 of each payment more
<br />thantlfteen (l ~:1 dal s in arrears to cover the extra expense involved itr handling de#inquene payments.
<br />:3. That it cite tirGaT of the pat'setcentc made by ttte ttorcgagar under lb) of paragraph 2 preceding shall exceed
<br />the att+otmt of pacatenis at;tualty made by the 5lartgagee fvr around rent4. taxes and asstassment,G or #nsurance pre-
<br />miums. as tl[e c~a.»e ma~• be, cosh excess, if the loan is Curren[, at the option of the 6lortgagor, shall Ire credited by
<br />tlie~~l4orteaaee on sub:+egnectt: payments io he made by the Mvrtgttgor, or refunded tie the ~)krrtgagar. If, however. the
<br />^tanth!~ pavrnonts made by the'itortgagor under fri of paragraph ~ preceding shell Woe tre sufficient to pay ground
<br />rent, taxes and asst+ssmerrta orins-urartt;c premiums, as lire ca>e may be. when the same shal# become flue and. pay-
<br />able then the ilnrtgagot .shall par- to the llartga~;ee any amount necessary io make un the deficiency, on ar before
<br />the date when. payment of ,Kutch ground nr.nt~. text's, t55es,~ments or kn~urtant;t= prn-miums shall he due. #f at any
<br />time thr'klari¢agctr eltal3 tender to the 1lartgagere, in accvrdtutce with the prrrvisions of the pate tieeured hereby,
<br />fullpaymchrt of the entire indsbtt~dne'zs reprnsent.ed thertaby, the 'kiartgagee shall, in computin{{ lire amount of such
<br />indebtedness, credit to the acrcwnt of the ;vartgagcar all payments tnacle under the lnovisians of (er) of. paragraph 2
<br />heteoI which the tilort~.tgee ttaf< eat became obligated to pay tr[ the »~ert~=tary of flnu `:ing end /'than Deti`eloptnent
<br />and any hak'ance rtmaining in tam fonds. aceumulafed tender the prn>tisinn7 of r'?,} of paragraph Y hertmf, if there
<br /><hal# Ne a default under env of thr+ proci.~ivn: :rf ihi~ nortr•a,~e r+•sultin_ in a public wile of ehr~ promi~c:s covered
<br />hereby; va if lire 4luettagec acquirt3s thۥ pmpertt ntlecrwide after dt:fauit, the ~lortaagec ,what] apply, ai the lime of
<br />f#re aommtancement of such prncet;din~, or at ttrc lime ihc> prvptru i otherwise aequited, the balancrt then remttin-
<br />ing in !hn funds accumulated ender ~; t of paragraph `~ precedinu. a,5 a credit against the amount of principal then
<br />remaining unpaid under said nuts. and chalk pmperh adju.~t any payment.: which shal# have been made under !a)
<br />of puaeraph '2.
<br />s, 'That the Mortgagcx wii# pay ground rents. tuxes, sssessmcros. water rates, and other governmenta# or municipal
<br />charges. finis. a}r impositions. for which prwkian has eat been made krtrtint>tfare. and in dt4auli [hereof the ilarigaget may
<br />pay the same; and that the Morigrrgor wii? prampth~ defiiver the cetlit ia# receipts t#aerefcar to the hlurtga$ce.
<br />5. '~ ~ionttagvr wi#t pay a!t tatiel which may bt #eeird upon thr ~Iartgaeee's interest in said re:d esta[e and imprave-
<br />mants. atxt which map be #evird upon this mortgage tar the debt xtcwcd hereby that. vniy a~ the exian[ chat each i_s eat prohibit-
<br />ed' br kaw and only trr the extent [hat such Witt eat make clot loan usuriorrsl, but cYCtuoing any income tax, State er Federal.
<br />irnpused an Mortgagee, and will file the ah;eiat receipt show#ng suck: payment w ith the Mortgal;ee. Gpan vicnaiion of this under-
<br />taki[tg.:u it the ;4lartgagar ie pavhibittd by any #aw nox or hereafter existing from paying the who#e or aoy porttvn of the afore-
<br />saia3 t. xrs. rr uptfn the rendeaing of anq ctrurt decree prohibiting clae payment bythe ?r4artgagar or any such taxes. ar if such #aw
<br />vrdetu'ee pra•ides that arty ~raourt,sn paid by the ~iortgagar shelf ~ credttcd on the mortgage debt. the 4lartgagee she#I have
<br />ttic nftht to gimme ttitret d~ti-' wri;tzn ,r~~ticr to the owner of the mortgaged pre+nis~s, requiring [he payment of the mvrteage
<br />debt. ff sur:tt notice he hr . she .,id dc:brshall beeomt dot, payable andcol#ecthte at rite exp#rationof said ninety days,
<br />ti. Tkiat shuu#date tst [,~ ;.~pk any sum or keep any cavssa~at provided f-0r in this ~4ontgagc-, than the Mortgagee, at its op-
<br />tion„ nary. pay or petfc,rm roe ;~cmt. attdall expcndturts v made shelf be added-[o the Principe! sum owing. or. the above note.
<br />shall bt securcdhertb~, t+:au s~allbear interest at the rate sttfvrtlz in the said Hate. until paid,
<br />". Thiat he hereby a si~irt, transfers anti sets over to the ~forrgagre_ to bt apphed toward the payment of the Hate and all
<br />>.rr<~~ secured hereby in r3,e of a default nt the perfarnrance of anw of the terms and conditions of this ylortgagc ar tfte said
<br />Ware.:;// nc~ rents,.rcvenue~ and income. to be derivt:.tl front. lire mortgagt:dprcmistsd~ring such tame aS the mortgage indebted-
<br />us. tihak# rrma+n urspeid: and the `lartgrrgoc-sktalt have power to appvittt any agent or agents it maL~ desire -far the purpose-uf
<br />rrpau:ng ,.,+d ; -am_isea and te'~ re..r+irrg tErt scene and co##ec[ing the rentx. revenues and ~mc.omt, aWd it may pay out ot" s:rtd in-
<br />com ;, all ; ctxm;e> o! rep~irisyF. said premises andnecessary commresions and expenses incurred in rentingand rnanatzing the,
<br />,,:<rne _=nd of c,rilzerirtg rrn;.et, •herefirom: the f*tiFenoe remaining, if any. to be wpp#ied toward the discharge of said mvrigagcr
<br />irwtbtectnes:.
<br />";hat he wisi ~t;eep ,i;r ,rr~ ru,~ctnenis nuts txixling sr hertafltr ereceed an the mortgaged property, insured as may be
<br />+ ;:-.- . ,:.~ ~;ina t~..~ ht,rirx and ~}iher h.•rrarde. casua#ties aid contingencies in such.
<br />,rnrtents and fc- s.rch firer ~ d, a~ mat t=r ey~_=i ^et ht~ the kfcrrigag+eeaxsd will pay p€ampfly, when due. an}• prtmiunrs an such
<br />ima}.~acc prUw.san t,,r pavtt~ent cf Nhich r~wt not hcsrr made hereinbcfore. rt#l insurance shell he carried in companies ap-
<br />>•rc=ad by tl>c ~ti.rrg:rcee e^e! rP.r C -tick, new - ~c~3 a;a term ,£ ,hail Nc' hek3 ty dht ~!€rrtgags~ and have attached thereto lass
<br />;ttrr;tbk c#sss:e•; in fa~.,r o'. and in fc to .+~.~eptaru(r H, ~:;. !•arty,;rgee. In rc-ent of "+~ss;tilortga4or rt:rt ~ivc immedi;a.o notit~ by
<br />m2ii , .the h]zriaa~:e. 1<hi •nay rrtol~ •sl ,. , ri tz++: 77E'+]t: paDttt{ttl': t^t: 'Sr~rtgsiggr. end Cac9: irtsueart~.e ~,...ranc oon^
<br />i,erretd ~. hirrh.:,~:duarir~°d ~tnd direc,ed 1a~ n - k~r poi orent ntr such &aas dirt.: ~; to tlrr ?.larta;ngea ' ..reu^r„ tt{ to ~thr ~ht,r [ <<a,lsr
<br />..~: tl:r ~]ea~~ee J,~inta. ;r~,G the rn~a~:r*~cr v*rxcrw!*ra~ttrny`{~€t thcrsvf, mar ~+tpplied hs ttra ?tt,•rigatte~` et its „ntizra tither
<br />t_+ tfa €c+iu_:kN, c i al<e i:x3ch:edre~. k;crch~ t,••~uae<t or trs.tlte rrsrta¢atianix rra:,ir ,rf the property c,am::ltd In event czf fc?rcckr.:
<br />ws:rr ri:,. m„rtg. AC <;r,chcr trams ~.,v.-t~et ortexl pcapeTt+'ia rxtrnguishmtn;of the knd. bred nvts,reurerl t=,ercbv,
<br />_,8 :,>~nt. r,t~ . ~+d rnrc r: ,: of ;aw \iu t, -ne,r ran~~?ct any tnsuranee Rr.ktc%~s arse rn forcr.hnfk pass is>id:e purcaascr err; ra,rtea.
<br />B Sk.,r a -;~.6:.rxm .i .. e;, .,=:.a ,, --:' -.<ur:++, kr th~~ p-r ^rc-,t n" Fltht ee>!c ,, , ~rit!rd.: ad :.3k ~trn , ti: k'st:,-mr dczr under chit
<br />:;auoi~ y-i . ~~ .~-rr~;.~~;, _: ~c c P. a..a>in, :•, tree ?~itrrts?:a;e- .r.l. pr:.€i;s, revr.s _ ~-y:~ur •. : ghr-. .a~„ tena.E~t~ acaru!ng tcx rr., r,
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<br />_...ti M _.~ .. , .U ipr}.Y2d r°~"_ - i.~ .7ilA - +i;C
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