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<br />82 "'{)Q~f1
<br />(I) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to ttte Secretary of Noosing and Urban llevelopmem pursuant to the
<br />National ffousing Act, as amended. and applicable Regulations ihtreunder: or
<br />(It) It" and ao long as said note of ergo date and this instrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in lieu oJa rnortgrrge irrsumnce premium/ which shall be in an
<br />amoum equal to oneaweltth (IIIZ) of one-half (I/?) per tentum of the average outstanding balance
<br />due on the note computed without taking imo account delinquencies or prepayments;
<br />(b) A sum equal to the ground Tents; if any, next due. plus the premiums that will next become due and payable on
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessmenzs next due
<br />on the mortgaged property (oft as estimated be the ,Nortgagee1 leis a!1 sums already paid therefor divided by the
<br />number of months to elapse before one tnnnth prior to the date when such growtd rents, premiums, taxes and
<br />assessments will become delinquent, such sums w be held by Mortgagee !n trust to pay said ground rents, pre-
<br />mituns, taxes and spetia! assessments; and
<br />(c) All payments mrnteoned in the two preceding subsections of this paragraph sod all payments to be made under
<br />tlit note secured hereby shall kx added together, and the aggregate amount thcrtaf shall be paid by the Mor**.gagor
<br />each month in a single payment to he applied by the Mortgagee to the following items in-the order set Forth:
<br />(f) premium char_ces under the contract of insurance wrth the Secretary +~f Housing-and Urban Dtvelopment,
<br />ormomhly charge bin lirt+ :.f mortgage i+tsuranee prrrnium;, as the case may he:
<br />(I!) ground rc'rits, taxes, assesstttents. &rc and other harard insurance prrmiutns;
<br />[t1!) interest un the note secured hereby; and
<br />(IV) amortization of the principal of said note.
<br />Any deficiency in the amount of any such eggteaatr moa[hty pavmrrtt shalt, unless made good by the Mort-
<br />gagor prior to the due date of the next such paymc!,:. constitute sn event of delauii under this mortgage. The
<br />fifortgagee may cotkc! a "tart charge" tier to exceed ",:sue ::rots !-ta1 •,in each dollar (Sl) oftaclt payment more
<br />than llftten (15) ejays in arrears to rover the extra expense invuhed in handling delinyurn[ payments.
<br />.,. 't'hat if itte total of the payments made by the \lonttagor under ; b,r of paragraph 'l preceding shelf exceed
<br />the attmunt aF payment`' acwally made by the lhrrtkaReP for ground rent. taxes and a=sessments or insurance pre-
<br />mium, a+. the t•ase+ may be, such excess, if the ttratt is torrent, at itte npticm of ttte Atnrtgagor, shah be credited b}
<br />the \turtgagPe on subsequent payments to Pre mode by the lforttrsgor, or refunded to the 1lnrtgagor. 1f, however, the
<br />monthly payments made be the 3kNtgayror under . i. of paagraph ' preccdin4 +hail not be svffirient cn pay ground
<br />rent, taxes-and asaes.~mem ur insurance premium-, as the ca:e mat be, when the =ame ~hafl become due and pay-
<br />able, then the \turtgFt$or shall pa} to the. \hsrt>;ugce xnv amount necesan to make up the deficiency, on or before
<br />the date when patimrnt of ;uch ¢naund mot-., faze-, a=Se-=meat-~ or in.;uranre pmmium.5 shall be due. If at any
<br />time the ttortga(tor -hall tender ire the 11ortKa?tee, in aceord:utce with the pmvi~ions t+f the note secured hereby,
<br />full payment of the c-ntim indrbtrdnt+ss mpresentevl themby, the ltortr;agee .hall. in computinrv the amount of such
<br />indehtednrss, credit to the account aE fix Mortgagor all paymctts m;tde unalcr die pravisiares of ' uj of paragraph
<br />hereof which the )tongagee ha= nut become obh~ateti to pa} to the `kcretan of Housing ..nd [-than 4cvefopmcnt
<br />and ally bafancc remainin,t in the funds accumulated under ttte provisioner of ,'=~t u[ pva„tapir ? hemof, H ihure
<br />shall hu a default wide-r env of the pruxisiuns oT this murutae+• m~uitit>K in a public mate of thv premi~+~ covered
<br />herrbY• or it the \iurtgugee sctluims the pn+perty utherwi-e attar default, the SN+rtgagtk 4hall apply. at the time of
<br />the comruehctvnent u( wch prm:eedings. nt :tt thr• time the pnrpertx is otherwi~:~ acquired, the balattee then remain-
<br />ing in the fund= seeumulated under ! `•; of paragraph '? pmcr=dtn~, :u~ a reedit a~ain_~t the amount of principal then
<br />remainin>; unpaid under seed note, and shall property adju~i ens payments which >hai! ha+e been made underittl
<br />of paragraph'?.
<br />3. That the Mnrtgagi+r will pay graurtd rents, texts. aasra.ments, water rate.. and other guvernmcmai or municipal
<br />ehatgts, hMa, or impxst@ona. far -which prus~iatoa[ has r?it Latta nisdr htte,nt+tforc, and in default thereof the MnrtCagre may
<br />pay the s:amr: and that the Martgag~x will , rs+mptt} dciistr the otFtciai reierpts thtrrfor to the \tortgttgrt-
<br />The btoctgagur will pay all text, which maS hr ies Ted upon !ht \t ortgagrr'. lntrrrst in wid real estate sod improve-
<br />mrnis. and which may- be Iraicd upon this ntartgage ter the debt ~ecutrd hereby thus only to the rxtrm that such is nut pmhibit-
<br />rd b7 taw and Dols` to the extent that oath r-it? ttcN make thn town usuriaxrs?, taut excluding any income tax. Starr or Federal,
<br />imperied un Mortgagee, aatd well file the utlicaaE receipt .hu+atng such payrnem with the \tortgagtt. Upon violation of this under-
<br />taking, i+r if the Murtgn$ttr ii ptuhihurd by an}-!xw nuu-.u hrrra(ttr txtstiug from posit?g the u hole ut ;+ny portion of the ufotr-
<br />said taxes, eu upon thr rrntdrring of any sewn decree prohibiting tree payment by the Mortgagor or any such laic±. nr if such tau
<br />or decree prnvidts that am arnuun[ an paid hx the \tangagor abort he :`edited on for mortgage deM, the Mnrlgagrr aleall base
<br />flat right to give ninny days' wrinen tntict to the owner u£ the nwxtgaged prtm+saa. requiring the payment of the mortgage
<br />dthl. if such matirt tx given, tfit said debt shai3 t+tcumr due, payahk and rullertthlr at the expirateon of said nintly days.
<br />fi. The! should tae fail fo peg any sum err ktrp any curenant provided for in this Mortgage, then the Mortgagee at its op-
<br />tion. ma}~ pay tx perfi+rm the ssimt, alai aft exprndiiurea st+ made aftall be added to the principal sum uwit'tg on the above note.
<br />shad be secured htrtby, atad shall tzar interest ai the rate ,et forth ire the -.aid note, until paid.
<br />;, That he htrtby assigns, transfers and sets axle to the Mortgagee, to tat applied toward the puSmrnt trl' the note and alt
<br />Turns sceurtd hereby in case of a default in t,+ae prriormarh.t of eat of the ttmea and conditions of this Mortgage ur the said
<br />tto#t, al[ She renter, retienuea and irtrumt to he derived from the mortgagtJ pcemi.t. during >u:h atot as the mortgage indebttJ-
<br />rr_ss shaft ramhin unpaid: and tttr Mortgagee shalt hake power tc appoent ang agent or agtnta ,t ntay desire far the purport of
<br />rtpturing said premibes artd of renting the same and a+lkc[ing t!x rears, revenues sod income, and it may pa} cwt of acid in•
<br />comes al! tztxnses of rcaatrirtc sand premises and ttteessary caxnmtssiona and ttDtnxs ertcttrrrd in renting oral managing ihr
<br />;ame and of coiktring rentals therefrom; the taalanct rtmaintng. if an}. to bt applied toward the dischaige of said mextgagr
<br />i[xkhttJnc>~.
<br />- K, That ht will keep the improytmtnls now txisting.x htreai'ter erected un the mcKtgagtd property. insured as may be
<br />r'egtrired from ,time tea time hg the ~turtgagcr agairt`t toss ray t+rr and other hazard. casuaitie> and contiagrncit~ is such
<br />amuuraix and fw cue:.h pericads as may tx rtquirrd by itte Mortgagee grid will pay promptly. ',v hen due. an S` per^~, .u, such
<br />insura~c Ft'usiaecas flu payr~nt of uhit;h has teat keen made herrintxfort .\i! mautatn.r shall !sr c:trrird in . air, ap-
<br />trcuvad by tt?t Ms!rtgtrgee anti t[~ pcdidta atut rerztwats tttertut shall fair hcid try the Mr?rlgagee and have attactsr.l uarrtu loc..
<br />ta~yabte chtiracx in €svixr.af and ig fcmm ac<~ttsbk to the Muetgagct. !n ~arnt of luxe Mtutgagor u i!: gi+e rmmeiliutt uutice h}
<br />rreailsu ttsc 2Nssrt~agec, who may make f+ri+ef of teas tf nsu made promptly by Mortgagor, and taah ensurans~r company ~>n-
<br />cerned is taerehy-autAtntatd and dirt:#ed ter, make payment for slob fuss directly Ut the Mvrigaget in+ttud al to d[r Lirxtgatgar
<br />atxt tAa ',vtxtttpe )rriitNy. atx' the. en_stuanct prucetdv, ex any part tfitrret{, ma} he applied N} the Moris'agez a tt, option either
<br />'#}r#le~rxhw#tr~~itktt~tStedtrC~sDare-bpp~tcutesf,xtethr?rstomatimtotrtpair-+-ti thep+Jicrty~d8vseagev fr.,,.rntuff,-rre.io-
<br />trf This, nitrrtgattc rn tn¢tr transfer crt tint to :hr mx+rttiaNtd prupertg in r-xritrgelishmtnt ei the indtbtrdntss .rct+rr.t htrchy.
<br />~tl:it6T?t, trikkfid mterrst of the Si.mtgagur to atsd ter an} itvurance P`-+licits then in fence shall p:asa fir [br purchaser ,>r tttantrc.
<br />v, 'that a. ailduwnai and rasfiattr#1 sr.,wtty fYar the pagmrm of the nett drscriited. arril all puma [o t+ccamc,ittn ur,dtr Ittts
<br />Rwrt,p?gtto-, rhv aFcetr~ar hereby a.ssiifeta w the-b3iutgngter :df prtttita. rr-ytntMa ,.yaaes. ry;his acuf iartterit. as;cruing t.+ the
<br />~~ uti a*1} etas ed3~ oit dgafile~ses oat-sgiti-}verxise~, a{th t1w right to =re€i•-t amt rectiM f<x the i,une anti apply
<br />tiserm p! seed i?Kittut4fnc.x av wrg Mcfi+rt a. alter tufauh m rlrr.s usts#ttitxris at t_hi<mi+r tµa#c. and the Mtu't~nytrr may demand, ~tre
<br />?r-!xind tees car arYR c~u; n,_ymenis vtxrt dirt-and ~gaT*tt, tN1r_sf,Y~ff oat f+e ay +`: eJ «, tr +h, ~t7it, a,ait;turtant tw [n ternunate
<br />neat lxre•+rrtt twit `sod irrMt itT>~.n rvira+- phi. m+_wtgia~.
<br />s*t, o-s2~-z a;tM tu-rsa
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