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<br />g~=.t~ 0 ~16~ is
<br />(1) 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 the Secretary of Housing and Urban I~vciopment pursuant [u rtes
<br />National Rousing Act, ru amended. and applicable Regulations thereunder: or
<br />!II) If and su lung as said note of even date and this instrument err held by the Secretary of Housing and
<br />Urbatr llevelopment, a monthly charge (in lieu of a mortgage insurance premium/ which shall be in an
<br />amount equal to ane-twelfth (1/I?) u( am-half (tJ2) per crntum of ttte average outstanding balance
<br />due on the note computed without taking into accoum delinquencies or prepayments;
<br />{b) A sum equal to Ute ground rents, if any, next due, plus the premiums chat will next become due and payable on
<br />policies-ofRre and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (alt as estimated by the .'NOrrgageel less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and
<br />_ assessments will become delinquent, such sums to rte held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, texas and special assessments; and
<br />{c) All payments mentiunad in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured-hereby shrill be added together. and the aggregate amount thereol shall be paid by the Mortgagor
<br />rack month m a single payment [o be applied by the Mortgagee to the following hems in -the order set forth:
<br />(1) premium charges under the contract of insurance wuh the Srirtary of Housing and urban L)evelopment,
<br />or moothtr° sharer tint lieu of7narrgage insurance nrerniun:l. as the case may 6c: -
<br />(}{) ground rents. texas, assessments, lire and other hazard insuzanie premiums;
<br />{llt) interest un the note secured hrrebyi and -
<br />(IV) amnrtiza[iun of the prirtcipa! of said note.
<br />Any dencieney in the amodnt of mry such :~ggregare monthly !rayntrnt shall- wtkess made good by the Mort-
<br />gagor prior to the due date of the next such paynrcut, ianstitute a^ event ot" default under this mortgage. Ttte
<br />Mnn_raget nay collect a "late charge" not to exceed tune cents ! ?s') _toc cash dollar (Si t of each payment mole
<br />Phan fifteen (1 `,) :+ay~s m atre:us w cover the cane expo rss: invoiced to handling delinquent payntents-
<br />:T. that if the uttal of the puy'ment.4 made be dre 1lnrtagor under ri;+ of paragraph _! pmceding <hall rxcued
<br />[he atrrount of pavmen[z: actualic mutter by the Stortiagee leer ±•rcurnd rent, iaxe- sod a=se.~-men{. nr in~urmure pea:
<br />miums, a~ the ct,~:e mot he, much eseess. if the loan is current, at the opnvn of the Mortgagor, shall be credited by
<br />the lhtrt¢ugee rn subsequent payment= u? he made by the 3lorigagrer, or refmtded to the titongagor. IF, ho,wwer, the
<br />nranthfy- pay-merits tmmdr tn• the yfort~,pa,r :m[ier ~ 5, of pirigr:tph ' i?recedtn., sh:[3' not t?e 4ufficicnt tea jx-iy ground
<br />rent, tace~ and a -e;;~ment~ ;rr in-urancr premium. a~ the +•av.+= mat he, Shen the ,nine Shull become due and pay-
<br />ahie. then the tktrtgttgor shall pay to the \htrtgagt=e env umtrunt nece-~ttn to make up the deficiency, on or before
<br />the dew when payment of +uch „!mood rrnt.~, tnxe~, a.~-+•s-menl.~ ur in=uram•o premium, ~hafl be+ due. I( ai am'
<br />time the 1lnngugttr ,-hall tender to rtes= 1lerteag+e+•. in :u~curdanre with the prnvi~iun.~ of the note secured humbv.
<br />fu{! pay-mettt of the entire indehtedne~- rnpre~enani themh,-- th+= yion{;ugee what!, in rnmpitting the amount of =uch
<br />indebtedness, credit to rhr xcuunt of t[tr Mcrtg:agor ai! psrvmc-nts made under the lnoviainns of ;'r:1 of pataj;rnph _'
<br />hereof which thi• llnngagec ha= nut become obligated t+? pry io Ihr ~rretarv of 11uu=trig _nd l~rban Derelnpment
<br />and env balance rtrmaimng in the lundd arcumuiau~d tinder she urovi~iun~ of : ; nC paragrsph ~ hereof. If three
<br />,hull be u default under ant of the prosisinn- +.i [hie rmxt_age re~uhit~ in a public ,ale, of the premi-yes aryertKi
<br />hereby- or if the 11nnEagee ar-quires the prapavty nthe:rwi~+• <+fh=r default. the NurtRa;;ee ,hull apply. at the time of
<br />the c+?mmencrma-rtt of =uch pro<reedinR=, yr :tt the time the ptvpc•rty t- •?thtanvi-o acquired, the halanct= then remaim
<br />trig In the funds accumuiateti under:~ of paragraph '_' preceding, a= :+ cn=dit :gzain~t the ;amount of principal then
<br />remaining unpaid tinder ;aid nuu•, and shall pr,rperir adju-t nny pas-merit- ,vhch shalt have been made- under %.,t
<br />of paragraph '_', -
<br />:. Chat the Mnrtg:tRur :c dl pay grnmtd :err.. tars- a<ses,mrnn. water rues. and ocher governmental or municipal
<br />charges. rinr,. or tmpu,rti,rm. for whtch pry,-teen ha. ant t,rrn made hrreinhr[ore. ;u,d in ilet:+uit thereof the A9ortgagee may
<br />pay- thr.ame;::rid that the y9urtl+gur will rsn?mpth~ deln-rr rtes utficial rr::rrpis therefor to the \fertgager.
<br />~_ -iTic A#ortgagur u ill p:n- aEi t,ur. w bleb toes hr trs trd upc;n the 3furigagre~~ rnrerest in saui recd c--state .md imprerve-
<br />tnrnts, and whi,:h may br k? red u#xm this m.?ngagr ate the drt+t rr~ttred brrrt?s rt+ut enl>' t+? the extent that such is not prohibit-
<br />tKl by taw and only to the extent that such w-s!! nut maAe rhts 4,aa u>nnuuat. Fur e<cluding ant triennia [nx, Stara or Fedrraf,
<br />imposed on Murlgagte, and wits rile the utHctai ; rirrpt ,how urg auctt pa} ntem u rite the Mong:+grr. t'pan violation of this under-
<br />taking, ur if itte Mortgagor i, prohibited hr am h+w now .~r hrrc:iftrr c•yiving from paying the whole or any portion of the aforr-
<br />:aid nixes, or up,m the tr ndarinR of any court ctrl ere pn?hibittng the put mein by the Mortgagor ur any ,uch roars, ur if ,such low
<br />aV ilrtree provides that any amount ,o paid by the Mortgagor ,hail he credited on the mortgage debt, the Mortgagee shalt have
<br />the right w give ninety day, wTiRen nuti.r to the +?w=rice of the morgaged premises. requiring the payment ui the mortgage
<br />debt. if such nutii:e GC given, rite sold dat±i ahaii become due, pa}abir.tnd eu[lratible at [he expiration of said ninety days.
<br />5. ~Iltat should he fail to pay any sum or keep ant :~evcaaur provided fur io this Slc.:igagr. then the Mortgagee, at its ap-
<br />tion. may pay ur perform the same. and ail expenditure- ,o made ,ha;l be addrJ to the principal sum ow°ing on the above note,
<br />.hall #xsaaurrd hereby, and shall lane interest at tfte rat, set forth in ttt+€ said note, until paid.
<br />`- That fsr hereby usslgns. transfers and sets uacr to the 'itortR:agte, Ea br applied toward the pupmrnt of the note and all
<br />sums ,accred hereby in lase of a default in the prrfurmancr of an} of the terms and wnditions of this Morig:ige ur the said
<br />Hole, elf the ten#s, raxrnuas and income to hr droved from the mongttged premixes during such time a. the mortgage indahted-
<br />ne~s :half remain unpaid: and the Mortgagee ,halt have power to app+aint any agent c>r agents it may desire for the purpose of
<br />repaving said premiere, noel of renting the snore and rullecong the rents- recrnues and income. and it mar pay uu[ of said in-
<br />cuvies a!f utxascs of repatnrig suiei premises and necessary commrssions and rxprnxes incurred in renting rued managing the
<br />xmr and cif cakietirtyt tatttafs thrrefrnnt; the F:zfancr remarmng, tf soy. t+, he appitrd toward the discharge of slid mavtgage
<br />iu^rietrins. -
<br />H. That Fx wilt keep the impruvrntrnts new ayrsting ;.+r hrrrattet creited on the mortgaged property. insured ar may be
<br />tecuired frrattr tuna to titttt bt the A4iuzriae against b'ss by fist rind ether hatreds, sasuattias and contingencies in ,uch
<br />atttattnts atui for loch-perioa#s-as may tae required by the Matt~tgager and will pas- promptly, when due- anp premiums on such
<br />stmarrrue pruvi3iam fur gakment of whiciY has tot been made hereinbeicare. Ali insurance shall t?e ~arrird in c;umpames ap-
<br />provrd ny t~ ;ytatrsgugee and [Ile policies and renewals rhtrevf shat? to-held by :hr Afortgager andna1-r attached thereto bra
<br />t>+=}able r`atlsts It; favor •*f at'f!in Elam =ee~eeptat,ir lc• the Mortgagee.. lit es•rnt of k±ss Mortgagor wrlP grvr etnmrdiu~<~ ,t..,~+- by
<br />mad tU=thi: Idst[4~agra, w•ho nuss_make }a-oot rt} t++s~ if naa made pramp#fr by 4lortgagnr- and rm:h msuranie u,,, . ~ .un-
<br />:rrttad is harehg au#hauited and dtre,;ted k: make payment far such hers direrdy m tnr btnrtRaRre instead of to the 'a,n tacg+rr
<br />atal €i>r ;i¢atriRtiygea foiatEp, dttd the irv utrt[trt proceeds, .a any pan-tlrr.^caf, may- hr apptiril tiY tttr ;~latrtgagtr at its ,rttttun ct~idter
<br />ur the es~+#ttcit+twl.asd,gh's-iiwc~tss tttirb} fiec4red c?r is t he rcnituntitm ar tt,nai# of t#te pr+,tperh~ danrsrgc.d. ic; a-cot ai fnrrc'ko-
<br />•urr f !his rn*'a[[gAgc+rr auhrr transirr of tdfr u, the ut+xigaRrd prupeny m extinguishment +?I the irufrhtrdncrs seiutrd herch} .
<br />9}t r~t#, title attd inN'tast.d the 4taut#;agor In wnd tar any-iusuranrr fl+?testes then in lure ihatl psss u> the t,ttrcfta,r:.'r grantee.
<br />U.- 1'hax:r• addieµ,nai an,l .z;+aarcaf rercut'eta tier for nxttnrttt c}f the note drsiri;t~d. sod ail rum, to ht~?-,mtr due under chi,
<br />rtwet7p~e-; tltc Slrxtg harrtst aayi##tts to rite iliwtga#Crr. a;1 protils., trs cones, rnyahi _„ rights and t?cnrtits ;ICCnting 1u the
<br />Sf.ttt~#t=t taniir; .ink :+0+5 alt aui a34i gxe lrasra v+n said prrmt'<rs, with the tight ice r_~c•"ts'r Bind te.ztot Sae thr +.nnr an+i at`pip
<br />±ItctH ta, .nrd.aMiciatrQncsae xo well f?efc+rrE as after ttzfaup in aha =_ondutun= of than urea#ttagr ..utd the i#rk tgu#iac-ntav ,irnraettf, sae
<br />Sa,r stsl rr ~t~Ye.r +<ak torte gayrrnen#x ?>--'hen dart rna #+n;ltt#N!•: Fnri ,ball not t+e reyni3sJ ,ii tc .v l'hr~ -ac~crytumrnt h to usrmtnste
<br />an# Irac:e*nxa rty,f a+id wall ;rpttn rctras; thi+ nturtgt+gc
<br />a~UG~A2btl~ tt~--xVt
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