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$~~°° v i~ n 5'7 ~?
<br />(i) month prior to its due date the annual mortgage insurance peanaium to order to provide stclt balder
<br />with funds to pay^ such pretnittm to the Secretary of Noosing and Urtran IJeve4i+pment pursuant to the
<br />National Housing Act, as amended, and appticabie Regulations thereunder; ar
<br />{SI) if and so long as said note of even data and this instrument are held by rtes Secretary of Noosing and
<br />Urban Devetopmcni, a monthly charge (fn lied nja mortgage insurance premium! which shall be in an
<br />antaunt equal to ane•twelfth (1 J13) of one-half (lit) per centum of the average outstanding balance
<br />due on the note cvmpated without taking into account delinquencies or prepayments-;
<br />{b) A sum equal to the ground rents, it' any, next due, plus the premiums that will next became 4ue and payable an
<br />policies of fire and other hazard insurance coveting the mortgaged properly, plus taxes and assessments next due
<br />an rite mortgaged property (all as estimated by ttre Mortgagee; less all sums already paid therefor divided by the
<br />number of months to elapse before one month prier to the date when such ground rents, premiums, taxes and
<br />assessmenzs will become delinquent, such sums t.o be held h}' Mortgagee in trust to pay said ground rents, pre-
<br />mfums, taxes and special assessments; acrd
<br />(c) All payments mentioned in the two preceding subsections of this paragraph and ail payments to he made under
<br />the Hole secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each rnantft ir. a single payment ut be applied by the Mortgagee ;o the foliawing items in the order set forth:
<br />{I) premium charges under the contract of insurance with the Secretary of housing and Urban [hvelapmcnt,
<br />or monthly charge /in lieu nJ'rnortgage irrsa~rance prerrtium(. as the case rnay' be;
<br />{]t) ground rents, taxes, assessments, fire and other hazard insurance premiums.
<br />(II)7 interest on the note secured hereby; and
<br />(IV) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, uriless =Wade good 6y the Mort-
<br />gagor prior to the due date of tkte next such payment, a>nstitute an event of defauft under this mortgage. The
<br />Mortgagee may cotle~ct a "late charge" oat to exceed four ~_ents t #~) for each dollar 1S1) of each payment more
<br />than Hfreen (1 ~) days in arrears ui cover the extra expense involved in handling delinquent payments.
<br />.,. That if the total of the payments made by the llortgagar under f 61 of paragraph 'd preeedingg ,hall exceed
<br />the amount of payments actually made by the 1lorteagee for ~~mund rents, taxes and assessments or insurance pre-
<br />mium, as the case mat he, such excess. if the loan is current- at the option of rtes ltortgagar, shall be credited by
<br />the ylortaa~ee on subsequent pa}^munts iu be mode by~ the Slortgagnr, or refunded in the 41ort~agur. lf, however, the
<br />monttrl}' payments made by rite Mortgagor under rb of paragraph ' preceding strati Hoe i:e sufficient to par g=aunt'.
<br />rent, taxes and assessments or insuratttr premiums. as the ca::e may be, when the game -.hall became clue and pay-
<br />able. then the y~lortgaEOr shall pay co thu 1lortgaf!ee any amatmt ntcr.~sary to make up the deficiency, on cr before
<br />the date when payment of such emund rants taxes. a. sessment~ ar insurance yremium> shalt he due. if at env
<br />time mite Mortgagor shall tender to the 1lortgaoee, in accnrdeu~ce with the previsions of the note :ecured hereby,
<br />Eul1 payment of the entire indebtedness represented tbereb}, the yiongagee shall. in computing rho amount of such
<br />indebtedness, credit to the account of cfte Mortgagor all pavments made mtder the prat isions of ("ai of paragraph
<br />hereof which the S7ortgagee has oat become obhgeted ro pas to the secn,tan of housing .nd Urban Development
<br />and ant` balance nrmainin{; in the fund- accumulated under rho provisions ot!'~~ of paragraphZ hereof. If t-here
<br />shall be a default under any of the provisions of this nutrtgagr n•sultir>g in a public =alt o!' the premise= covered
<br />hereby, or if tYte Mortga;!ee a~cyui res the properu nthensise attic default. the ltortt,a„ec =hall a.pplc, at the time of
<br />the commencement of aue~h proceeding-, nr at the. time thr• propert} is othernise acyuirod, the halattce then remain-
<br />ing in the funds accumulated under iJ of paragraph ! precvrlitrg. as ;r credit arainsi. the amowtt of principal then
<br />remaining unpaid under <aid note, and ~hatl prcperiy adjust ~an~ papments which <haii hase• been made tinder !a7
<br />of paragraph :?,
<br />4. "Chat thr Mortgagor will pay t:raund rents. !aec~..rssessments, water rates. and ether gucernmenlal or ntunicipai
<br />charges, fines, or imposi[tons, for which pros oleo hay not heat made hereitu'tefare, and in default thereof the Mortgagee may
<br />pxy the same: and that the Morthagt~~r wiSl pnrmptl} deliver ttrt uliictai recerpis therefor to the MMortgagee.
<br />3. "T'he ~4ortgsgor will Pay ail taxe+ w-bleb ma: he tes•ied upon the .tilortgagee's interest in ,acid real estate :+nd imptove-
<br />ntenG, and which may ~ lecic'd upon thts mortgagt or the debt secured hereby' shut poly to the exienC that such is nut prohibit-
<br />z<i by law s+nd only to the extent that such will oat msRe chi, lain usuriausl. but exeludtr~ any income tax. Slate or Federal.
<br />imposed on Mortgagee, and wit! hle the utyictai receipt shawirtg such payment with the Mortgagee upon violation of this under-
<br />taking, ar if the Mortgagor is pn?hibiied 1?y soy last now ur irereaaer existing from paying the whole nr cloy portion of the afore-
<br />said taxes, or upon the rendering of any court decree prohibiting the payment by the Mortgagor ar any such raze., tx ff such law
<br />ardecree provides that any aznaunt so paid by the Mortgagor ,hall be credited on the mortgage debt, the ;Mortgagee steal! have
<br />Ihn right to give ninety days' written nonce to [he awaer of the mort~getl premises. requiring the payment of the mortgage
<br />debt. If such notice fie given. the said debt shat! buomt due. payable and coileetibk ut the expiration of said ninety days.
<br />b. That should he fail to pas any sum or keep any covenant provided for in this Mortgage, then the Mortgages, at iU op-
<br />tion, may pay t?r perform the vote, and ail expenditures sa made shelf he addtcl to t}te principal sum owing an the above note.
<br />shall k>e secured hereby. and snail bear interest at the rate set Earth in the ,aid note. until paid.
<br />?. Than he Hereby aligns. trnnyfers and son aver to the Mortgagee, to be applied toward the paymend of the note and ail
<br />yams secured hereby in case of a default in the performance of any of the terms and conditions of this Mortgage ~.-rr the said
<br />note. all the rent;, revenuaa and ntcamc to be derived from the mortgaged premises during ,uch [lino as the mortgage indebied-
<br />ne>s stroll remain unpaid; and the Mortgagee shall have paver to appoint soy agem ar egents i[ mey desire for the purpose of
<br />repairing said premises rind of renting rite same and <;ollecting the rents. rexenues and in~?me, and tt may' pay out of said in-
<br />catnes ail expenses of repairing said premises and necessary comtnissions and expenses incurred in renting and managing the
<br />same and of cotlecting rentals therefrom; the balance =_emainixtg, if any, to be applied toward the discharge of said mortgage
<br />indebtednes-
<br />R, "That rte wilt keep the improvements now existing or hereafter erecteei an the mongaged property, inwred a~, may be
<br />,_ rid from trine ts> time by the MarteagA;a against lass by fire .rod other hata;ds. ctsualttes and contingenci+.s in such
<br />amounts and#or such periods ;~ may rte required by the Mortgagee and will pay pramptty, wheat due..tny premiums un such
<br />insurance provision for payment of which has not been made hereintx.fore. Aft in>uranc she<! he carried in retmpaaies ap-
<br />proved by the Martgagae~ and rtes policies :md renewals thereof shall fu held b} the Mmtcagre and `nave attached thereto loss
<br />payable clauses tot favor Of andin form acrtptahie [a the Mcxt~et. in event of toss :.[ort~gur will eSvc immediate n~;lice by
<br />mail to the ;Martgag~, who may stake proof of cos if not made promptly by Mortgagor, attd e:+ch mcurance cornpany con-
<br />certxsl is hera~I?y authorized and ditteted to make peytttettt for Bach loss directly to the Murtgttgee= in lead alt to the '+dortgagar
<br />and,tite t ne+3~ yointiy. and the insurance pra+.t.eds nr an}' part thereof, rnay be tpplied hx the 4far g tgcc at its ap con either
<br />to tCx ,udt.o;vn pf nit indebtedness; hereby seared orto the restaratron or rtpa r vi the pry pe.rtr d:+mny.ad 1n esc,tt s ~ roreclo-
<br />+ure c k .hi~-, e,artus}tc cu ether transfesctf refit to the mutt.gagul proper€w ut cxtia}iutshmettl ot` the mdthttdness secured boob},
<br />old riyRt_ tafesnd interest of Elie Mtzrzgng<x in and to:~ any insa.-tnce poucies tttert r t `OrCe shun pass ao the purcttataci ur [_r:uuee.
<br />C ih<ii :,, a.~iis: ~>nai +nd ccaLaternf aecuniy fe>r the pt a~meni rr( ihC note des~~ra tt.d. a~zd sll .eer me =bcc.~l9te due under tht,
<br />:n,:u~..,r.. nc '~ ~ rt,,:~~~=.r i~ra~by aasr$no ta7 he .`~4nrfga¢;ec wit pr,rfiY . reseetiJts. y hies. nghts ana( heactit. cnnng i« the
<br /><Yf x ,~ ...sere , r_ s;d .t ri. -end; ns le ase:5 nr aaa# premt~es. 4~~sth She sigh, re: rc.civc tug: rcce:.i} ~ Ens stet ~.:r:rti .std app14
<br />.teen ,. _~~_ ._.. ... -~ ~efcxc xt.+ after umf:~ct:t in she conditr ratti u€ ....io . o,uut,c, .n..; tixe 0.tc t}.~~= ~~,: , Boa ua.ed, ••ue
<br />_ , . . ~:aSa ,herr at,;,: and }~.~gabic, i'ua, .:'half t:.i, -e :+rv.» c.- ,~. t, i,r ChI, ; „k.nnte tit is -.t. tc: nin,atc
<br />_, < tt; ~~.; .J ~ ~'. aye .;iea~r •~ rhea <r +rtgs~~
<br />~.~.r 915 d3A~t'y F.
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