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<br />$2~=ti1~3Z3;
<br />(1 ) rnontir prior tp itsdue date the annual mortgage. insurance-premiumin order to provide suchholder
<br />wifh funds wpay sucFrpremium to the Secretary's of I{Dosing-and-Urban f)evelopment pursuant to-[hc
<br />National Housing Act, as amended, and applicable Regulations thereunder; ur
<br />(II) [f-and so long as said note of even date and-i}tis instrument are held-ny the Secretary o€'Nousirg and
<br />Uitian I~vclopment; a mgnthly'chatge (in lieu of a marigage'insurance prerniunt/..which shall Be in an
<br />amount equal to one-twelfth (1(12)ofone-half (t(~) percentum oftfieaverage`outstandinghalance
<br />due 3n the note computed without takinginto accat~ni delinquencies or prepayments,
<br />(b l .4 sum equal to the ground rents, if any, Wert due,.plus thrpremiums tFiat wfll next become due and payable on
<br />Policies of fire and other}razard insurance covering the inortgaged' property, plus taxes and assessments nexfitue
<br />on the mortgaged property falF as estimated bh the Mbrtgageej less all sums already paid therefor divided by the
<br />number of monutis to elapse before tine month priorto the date when such. ground rents, premiums, taxes :and
<br />assessments wi11 become delinquent; such sums to be held by Mortgagee in trust to pay said ground reels, pre-
<br />rniums, taxes and special a~essments; and
<br />(cl All. payments mentioned in he'two preceding subsections of kltis paragraph and a!3 payments to be made under
<br />the note secured hereby shall he added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in' a single payment zo be applied by the Mortgagee to tfie following items in'the order seY torth~
<br />(I} premium charges under zhe contract of instrranae with the Secretary of Hdusir~g-and Urban I~evelopnient,
<br />or monthly. charge (in lieu of mortgage ursumnce prerniumJ; as the case may be;
<br />(I3) ground rents, taxes; assessments, fiie'and other hazard insurance premiums;
<br />(1fIJ inteiest on the note secured hereby: and
<br />(1V) amortization of the principal of saidnote.
<br />Any deficiency in the amount of any such aggregate monthly payment stiatl, unlessmade good by the Mort-
<br />gagor poor to'tha due, date of the next uch payment, constitute an went of default under this mortgage:-The
<br />Mortgagee. mzy collect a "late: charge" not to exceed tins cents'{4y) for cacti;dollar (31) of each payment more
<br />Lhan fifteen (15) days in arrears fo cover the extra expense involved in handling delinquent paymetus.
<br />:3. That if the total of the payments made by he 3lnrtgagur undec(b% of paragraph 1 preceding hall exceed
<br />the amount'of payments actually: made by the 3lortgagee for et~?und rehts, taxes and assessment orinsurance pre-
<br />miums, as the case: may be, such esters,: if-the loan is cuaent, at the option of the Mottgagok hail be credited by
<br />the Nortga¢ee on subsequent payments u,' be made by the Jlortgagoq qr'refunded io the NorEgagor, 'It, however, the
<br />inonthl~ .payments made by the Mortgagor under i.',j ofparagraph 'preceding shall nor be sufficient tc, pay ground
<br />rent, taxes and assessments or insurance premiums, as the case may ¢e, when the lame Halt becomr due and pa}'-
<br />able. then 4he lfortgagor shalLpay to the 3lortgagee aety amount necessary to make np the deficient? - on ur befgrc
<br />the date when payment of such-ground rents, taxes,'assessments oc insurance premiums shall he dui: {f at anv
<br />time the Flgrtgagorshall tendeito the Mortgagee; in accordance with: khe provisions of the note =eeured hereby.
<br />foil payment of the enure indebtedness represented`therebv the 1lortgagee shallc in computing the amount of-such
<br />indebtedness, credit co the account of the Mongagor all par~ments made under the provisions of (aJ of pacagraph '
<br />hereof which the Worigageehas not become obligated to payto thee-cretan° oEltousing`.md Urban: Development
<br />and any balance remaining 1n the funds accumulated under the ppn°isions of i bJ of pxra.~raph 2 heretsf. If there
<br />shall be adefault under anwof the provision~ofthis mortgage resulting in <ipublic aateof the-pmmi-e< coverrrl
<br />fierehY, orifthe Mortgagee acquires theprop~rlyotherwise aftordeiuuit. the4lprtgageeshalliipply, :u the iirnt~ ul
<br />tfie commencement of such proceedings, or at zhe Cime theproperty,}s otherwise acquired, Lhebalance !lien. remain-
<br />. ing in thefunds accumulated under jbiof paragraph 8 preceding, as ~a credit ar,ain~t the amount M`principal then
<br />remaining unpaid under said note, and '~tiall properly adjuaanv pavment~ which .=hall have been made'under~aJ
<br />of paragraph d,
<br />1. That'the Mortgagor writ pay ground rents, taxes, assessments. water rates and:l?ther governmental or municipal
<br />ctrarges. $nes, or impasitiuns, far which provision has not beemmadghereintiefore, and in default thereof the Mortgagee may
<br />pay the ~sme: and thatthe Mortgagor will promptly dzliver the ofticiai receipts therefor to the Mortgagee.
<br />The >torti;agor will pay all axeswhich rnuy belevied uponthe Mortgagee'siMeres[in'said realesiate and improve-
<br />ments. andu<hiehmay be levizdvpon this mongag~orthedebi secured hereby:{butonly to thz:extent that suehis notprohibit-
<br />ed by law andonly to-theextentihai such will not makeths loanusuriaus); butei:duding any income tat, State orFederal,
<br />imposed on.Mortgagee, and wilthle the official receipt show}ng suchpaymenrw'ith the! fvtortgagee.: Upon violation of thisunder-
<br />iaking, or i€ the Mortgagor is prohibited by any law now or hereafter existingTrom payingThe whole or any ptirtion ot""the afore-
<br />said t~xcs, or'upon therendering of :any court decree pronbiung th pa}•mentbyzhe Nlgrtgagorofany Such [axes, or ifsuchiaw
<br />or de..rac proy~ides thatany amount ,o paid: byahe Mortgagor shallbe credited-on themortgagedebt, theMortgagee sha!¢have
<br />the right ro'give ninety dour` written nonce-to the owner of the mortgaged premises;teyuiring the payment"of the mortgage
<br />dcht.If~uchnoticebegiyen,thesaiddebtshatlbecomedue, payahleandcollectibleattheexpifationafsaidmne[ydays,.:.
<br />G. 'T'hat ,hnutd he full :~ p;i} any sum oCkeep any covenant provided for in thisMortgage, then the Mortga~e~, a[i±son
<br />lion. may pap or perform the came,andallexpendituresso made shall he added tothe principal sure owing on She:abovenote,
<br />shall tx, secured hareh~. t,ad v~altbearinterestattheaateset forthin the said-.note, umil:paid.
<br />'Chat he turehy assrgns; transfers and sets over o the l1•for,gagee, to he applied toward the payment of the note aad all
<br />.um. ,ecurcd hereby in case of a default intha performance ofany ofthe'terzats and conditions cif t}usaMOrtgage ar the said
<br />note, all the rent,. re'. enu~. cn8incrrma to be derlvedfrom themorigagedpremises during_such time as the mortgageindebtcd-
<br />ues+.hall rennin unpaid. and the btortgagee. shat! have power to appoint any agent okagents it may duairefortfie purpose of
<br />r-p.,iriog ,ai;i ~-.~ ?isc, and .?t r-piing the same and collecting the cane, revenuesand income, andat may pagout of .4aidi,n-.
<br />comes .r;l ;apen.e; of repairing ,aid premises-andneeessary commissions andexpenses meurtedinranung and managiggtne
<br />,5n~r ^r,J ~,,` c Ilccting -e^ta6 the: carom; the. balance:remaining:ifany, to be:appliedaoward [hedischarge i~f sand mort~;e.
<br />ind~hte.l r,•~s,.
<br />5. That he u~il; keep the imps? ~•mrnts now exis8pgnr hereafter erected:on the mortgage} 1,xtoparty,.insurcd as may be
<br />regwred from time w dire by the Mortgagee against loss byfire.:aad oiherha[ards; casuattigs and eontingeneacsinsuch
<br />~mnonts c:nu fo= ~ueti periods a, may !x required by the Mortgageeand will pay prcimptly, whendue-. any premiums on sec-h
<br />in,~r i c~ pi o~. i ion f or o v ire.it ei wh,ehfius not been made hcceinbefcxe. ,411 snsurance whail'ne carried in rgntpainies ap-
<br />pry ~d by .he of t :,gze and the policies and:renewalsthercof~shallbe held_by the Mortgaagee.and have attached [here{oloss
<br />nayabte clatts~s m facer of ar.c m to m a::eptable is the:Mortgagee. hr e•.~~enaof k7ss~MurCgagor will gee immedrxtenoiice. by
<br />mat t he Forte t ~ h ? ..; k 1 roof f Inc. if aot made..pruurptly by vlcutgag9r. and each maurtnce. company. ~un-
<br />~err d i h .~t t h_ r: t i C 9i c 1 to m•6 1 i n n[ fur st+eh 1 t~rccity tv ,ha '?{ortgag e tftsteat' < f luthr 1{cr[Ragdr.
<br />.end the A9 •aw.rc~ , ,irtly. ~r i n,. ,r~,~...r ~. p. ~ c.:., uny fart the •L •,ay t+e applicclby ih~ Mfont,.it,cr .~t da uplron wither
<br />n,th .~;,uctic.?,,fthtinClcblcunc,a ireh~-u~urcJo t~slherr.torati:: ~_~rrepatrofthepron~rtVdamnaci.lnr'vcttfufforaclo-,
<br />sure of th,• era r ~el.~ -.:..thy: ,r.. nf~ ui title ~~. t~ .r~r :.ut;rJ prc?pert. in extiri;uisbment of theindcl twine>5 sicurrd hereby.
<br />=i'r : ~ 4t !itfe :;r,.I ici,r c .. (.ne 4to~ tt,,>!ot i^ and i •, i m ~ r.: c raliue ~ then in farce shall Bass. tea the purchaser or grantee.
<br />i ~,-i.t,.,.~, ~ ?, ~ .1~..[~ :_ ~~artt in< t:.; :-cut of the .tc it dC~ r_hn_c_ and ,t, _.1-m_c C~ bc~mc~ Gut. anger ttxi~;
<br />,.~~.. th<~'.Soribaecr c ~1-s ., , r. o t"t f .ng_,000 as protein, revenues ,;itri¢c_ right} sad dxnefit. ;nccntinu i..
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<br />-;1 r~: ,, rat s{ . r_.~.. i Y,. ~n , R~<e E7.
<br />.. rdt17! sa .: 3
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