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<br />82, ~.iii~3~l?~`~
<br />(t) month prior fa its due date the annual mortgage insurance premiun: in order to provide such holder
<br />wiilr funds to pay such premium to the Secretary of Housing and Urban. Deveh>pment pursuant to the
<br />National Housing Act, as amended,. and applicable Regulations thereunder; or
<br />ill} It and so long as'said note of even date and this instmrnen[ arc held by the Secretary.;;zf Housing and -
<br />Urbsn Devetnpment,a monthly charge (in ie+lgja mwrgage insurance premium) which shall'be in an
<br />amount equal to one,tweltth t.Ij}2) of one-halt (1/2) per centurn of the average outstanding.halance
<br />due on the note computed without taking into accounfdetinquenciesvr prepayments;
<br />(b) A sum equal to the ground rents, if any, next due; phts the premiums that will next become due and payable on
<br />policies of firz' and other Hazard insurance covering the mortgaged property, plus taxes and atssessments next due
<br />on theano~gaged propert}^ (all as estimat~rl by the Mortgagee/ less all sums already paid therefor divided by the
<br />number of months to elapse before one rnonfh prior to the. date when-such .ground rents,. premiums„taxesand-
<br />.assessments will become delinquent, such sums to be held by Mortgagee. fn trust. tv pay said ground rents, pre-
<br />miums,taxes and special assessments; and
<br />(c) Alt payments meriUOned in he two preceding-subsections of this paragraph and all payments to he made under
<br />the note scanted hereby shallbe added oge2her andYhe aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single paymenYto be applied by the Mortgagee to the following items in the order set forth:
<br />(I) pr~miuin charges under theconuact of insurancewith thn Suretarv ofHoustne and Urban Devclvpmerttj
<br />oT ;nonihty charge{in licro-trjm~rtgage insuranec prermum~, as the case may be: ,
<br />(Il). 4 onnd rents,taxes, assessments, tine atidoUterliazard insurance premiums;
<br />{III) nteresr on the ngte secured hereby; and
<br />tlV1 amunizationoftheprmcipalofsaidnvte.
<br />Any del ~iency in the amount of any such ar,,g-egate monthly pa}~ment st~tall, unless made good by the Mort-,
<br />,agor pn., t> :he due dare of the next such, payment, constitute an event of default under. this mortgage. The
<br />Mortgagee may callaet a '`late charge" not toexceedfour cents (~t1) for each dollar (Si )o,f tech payment more'
<br />than fifteen (:5) daysinarrears to cover the extra expenseinvoived in handling delinquenrpayments.
<br />:3. Thaf if the totatbf the paymentamade ht the t1ortigagoru^der ' of paragraph _r .preceding shal exceed
<br />The ainouht of paymentsactuallymxde by dlteilnrwagee foreroundrents. [aver andas .es~menks or insurance prr~-
<br />mutn a= the ca,e mat be, such excess, if the loan iscurrenr, txt the option of the hlorrgagor, shall-be credited by
<br />the :lnrtoskerv on -ubsequentpayments to be~made by the binrtaukur, nr re[undcd to the :11origagor. IF, however, he
<br />monthly paymrnt- rrrade Irv theMottgagorunder t"U oEparagraph~~2 preceding shad not he sufficienrto pay grcnutd
<br />rent, taxes and a.-escments ocinaurance premiums the c~~ema} be.'~ahen ihe,5ame =hallbecomeduc and pay-
<br />able. [hen thr Mortgagor ~hah,pay to the 11ort-a~eeany,amonntncce~san~ ao makeup the deficiencp~, on or before
<br />the date ++hen pal~mc~nt of such ground rent.:: tax . , assea :menu or in~arance premiums shall`bedue. If ai am
<br />time the lbri_agor -hall tender to-the tlortgace+~, krarcardancewith thepmtistvnuof ihenote=ecumdhrrcbc,
<br />full pst'mcnt of thrs entire md~lrredne-~ i•epre~=Doted therebt~, theM1lortgagee sha}L incompuiing"theamnunl of .;urh
<br />indebrrdncss, credit to [hc ,+~counrof :ne tilurrgdgorali paymepts madeunder the peovtsivnsc~f r"~; o! ~araeraph '
<br />here.ot +ahich the tk+rt_~e~ee ha-nu[ lmrnmc +tbti„atu+tt to pay toi~he ~eretary of housing end lirh<ut licccluptnent
<br />stud any balanc+ r-maiaine is the fmul< accumulattidvnderthe provision.,oC.,/Glof parugruph,~ hereof. ff there
<br />shu1L :te a default under am +~f the provisinn~ of thi.- morti;ag<•, resttl[ing: in a pub[ii~,-salt nPtke premise: t uvered
<br />hereby. ur iElhe tlortosre ~ acquires iheproperee oihercvist a&crdefauit, the 1lutigagte shin! upph~, aL'the timeof
<br />the-commencementmf >uch proceedintt5, tr at the iimt•, the properly i1 urlter ;~t. acquired, the balancethcn rtmain
<br />login the funda aeetrsnalattd under t°+i of paragraph`? preceding. as a credit against-the amount ofprincipal tfie:n
<br />remaining unpaid under.~aid note.":and Shah: properly,trdlu~t :utp paymentswhich shall have been made tindtr ('c) -
<br />of<paragrsph 2:
<br />:: The[ the Martgagt~r uril payy~'ound rents, taxes,-a>sessmentn, water. rates, and .other lrovernmenial ormunicipal :
<br />enargr,. tines, or impositions, for'which proti•isic+n hasdotheea'.made hereinL.efore. and tndefault thereof the Mortgageemay
<br />pal [hc ,.:ne: t;nd that the llorteagct will. promptly lelivec he etTrci:iitecetpts therefor to the bortgagee.
<br />~. The `~4urtC2gOr.>,il! p,l eVI t:+ces which may tx levied. upo+i the ;Vfortgagee~s interest in aardreal e>tuteand improve-
<br />n.ents.:utd ~s~hich matt he!le~~e,f upon thin mortgage or tEtedebt spewed herehy-(but only to the eetcut that such is not prohibit-
<br />eJ h~. te:~ and on11-to the extent thaCsuch wiU'noim;ike this loan. usurious). butaxaluding'any income: tar, Stateor Federal.
<br />imposrd ,m bh,neege~e. end wiA fitethe official recerpt showing suehpaymentwith.the Morig:agee. Upon violation of Chrsunder-
<br />[aking. or rf ;ha Pf mcegw is prohibited by any taw now ur hereaiterexistingtrompaying thewitoleor any p4rtian iif the afore-
<br />. ,aid r.eees, ur noun the rennerrng of any u+urt dzcree prohibiting tfic payment by the ;vortgagor or any such taxes- or if .uch law
<br />or decrrc pro. ide. r`;,t any amonnt sapaid'by the Mortgagor shall berredited onthe mnrtgagedeht,the tifurtgagae afia11 halve
<br />the right t,~ glee ninety days' wrattennotice to-the owner-of the-mvrteaged premixes, requiring the pay+menr of the mortgage
<br />debt. fi ,uch notice he gibe-u, the uid debt <hali become~dua'~ payable and c.:i+ettihde as the eapirationat'satd nineiyday~.
<br />h. -i'ha+! should he fail to pay. anysum w.keepanpcoveaaniprovided t it inthis Mortgage, thenahe'vlvtgagez, :ttitsvp-
<br />uur,_ may rote or per[r~rm the same. and s'I ex,penditures s9: made shallbc adttedzo the principal cunt owing vo the~.above ncite,
<br />>haJtbcecun~dhereFt andch.ltbeariiterestaittheratere["forth:inthe,a..nol~,unt$paid.
<br />That he hcrebp a;,i¢3f-. transfer,_+rd ,ets over to he \fortgagee..u he applied toward the payment of ihe~note anu all
<br />sums ,e_ured htrcb: in else of a defaalt in the ;*erformance afanq of f u:n, and conditions of this Murtgage,ur the said
<br />note, at; the rent., revevues and incoinc to to arrived from: the martg;tge . ~emise> during sUCh time as the mortgage tadebteti-
<br />ness shalt amain unpaid: and the: ~{art~-fee >hr~i` ~.,.,..pvw°er to .+ .•oir~ ,.n ~ ;~.~ent or agents if maydebcc fvctho purpose: of
<br />ce:pairing said pranks-, and of renting-the :anc :~w ~~I-ectink.Yhe cots c.~nue_ and maoine..and it may pay' out of rani ijt-
<br />.Dines t!!er.YUSe r_, :'ring ~aidpr~.ni,c_, .n.an ~ssti r: u~mmrsiott ~aa expenses tncurred in. renting tmd`mana}tiringine
<br />,nine and t t coif ,in., +,aalsthcr~frort ,ire bairn,.- ~_..taining, it anV, tubeapphedloward thedischargc ofstiid rnvr[gage
<br />indahtcuncss-
<br />R_ fh:C he will keep thr improvement, now ~,i~.[ing cr hereafter erected on the mcirtf,;aged property, insured a,.inay bc.
<br />reGnired from titre time M thr }tor u.tpcc at,~ma loss b} fire and v[Fterhuards, t:astialties and cuntingenciesin strch~.
<br />+rnnunts end tut su.h t,ri~+a, cis nra hi. re~uircd b! the?~ortgageeand wilt pay ,r.tmptl.!,:when due, zny pieniiunts:Vn such ,
<br />in;ucen„c pre•. i.;ien 'ot pr; me^r cf ~, hieh hu-, no: fen made heteintiefore: Aii imurunre ShaEl he. enrr~Cxt in eeimpanies ap--
<br />x< =rte bg thr v3o [g t~,ee a,w .ne pciuie. ~ ou rc,~~ ti ah.tfierenf shat be heldby. the .~Snrtgagce dad have at.achcd. Iheruii toss
<br />p.ry:,bk 4m..sc. +n ta,or of and in (orn useputbfe to ttn-,,4lartgagee. Tit eve[tt afdi as Slrtgagvr will true nnmcdi,ite nphcahy
<br />mat; qp the .Wortgugce. +vho :aka ~:,( rf , ., .f not ni.~dc~ prompdyby-itaarigagttr, and tech in$ur;utcc cool it + c, .
<br />eecnca x hereby atahnri ~cd eta Jire.;~d io Hake p:~; inept for ~u. h-lose directly to [he STo[tgagec insteatiiff li+ tilt ~°n.gaa;or
<br />and [bc St+ n~ge+e jo:ntlr.:,'td *,ne inur i vsa,_ i:r an} Pa: i *her~of-mayL~.:~oplied byahe ?iftyrtga4ee atrtti o~ i ,rc zrthor -
<br />:o !hc r.avcGon of the im.lebt:e;res, her h ~ ~et+rei ~ r w the -~,tor,ttiUn ar repair c.` the prbpr%n d.tmat;e . In ~_ ,,::~; For+.Cio-
<br />,urec~itr.i,n.,.,tk+I?r~+th_mans;arcllitlel~_~therr„rty;tgcf-.r.~•p+trt~.tnextit5gni,hmantoftheindrb[eon"~e_u'edhai~cb}',
<br />.i, rqh . i[lc arJ i,u~ c s; of o- ~~ ~hx[~awr i :: nd n °-n in:,ir.~n, r Lcie~ iltCnri'.' - .~' pansto the pc ._ La. ~, rr uutntce.
<br />h.,[ a, z,i li -pal _~,nt _ . J e p: ;rr i. , :.nc pure dc:_r.l r n~( all strtn, ti> ~ c ~ t ~ ~L;r t '.dNt this
<br />t
<br />,~g ir, thc~ tit r t ~~ ~, l:cr t ,y~n, + ~rtc `•tn c I .: >n;. -,cnr r~- , air ies,rights and he n.ci, .~~_i uinr: do the.
<br />.1 t~_t~. Fi~~ ..~.i~r r c ~c~ -. ~ .. ,~^ .air, 1 rc r, ~ . i,}i Inn uehr ! , r~~~ta~, ~rtnd 7ceoip{ ft the ~ _.at .~, vdt. ply
<br />rhea t „~ in.:.t r,~~a_" .~ ..~ +hefn~~ ~ al ter Jcf~wii irx th< -ti+n;ht,~.+.. ,,f tht, +n ~.+rt~gr.. zinc! the hS Ortg; tt;ee n:.~t ti ..~:,d..uc
<br />r~~r zn! ..~,+r: : -`i G~ rot, whrn due ape p,i-:~hlt. bur sb„(! nc, hi qph i..! so [i+ der Phis acSiKn ntct~i ix i i, inatC
<br />.:nd tea ~..ec ;iti' 'si : +rid apnn relba>r c ihi'~!Yauttgagc,
<br />+t l',.Stl't P4 ~-)-7:11
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