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<br />(I) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with t'unds to pay such premium to the Secretary of Housing and Urban Develapntent pursuant to the
<br />National Hauling Act, as amended, and applicable Kegulatians thereunder: or
<br />(11) If and so long as said note of even date and this instrument are held by the Secretary of Hauling and
<br />Urban 1evelopment, a monUily charge (in lieu <Lf a rnortgagc insurmrce premiuntl which shall be in an
<br />amount equal to one-twelfth t I ~1 Z) of one-half IJ') pez centom of [he average outstanding balance
<br />due on the note computed without caking into account delinquencies or prepayments: -
<br />(b) A sum equal to the ground rents, 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 assessments next due
<br />an the mortgaged property (al! as estimated b~~ dze bfortgageei Vzss all sums already paid there[or divided by the
<br />number of months to rlapx before Otte: month prior to the date when such ground rents, premiums, takes and
<br />assessments wilt become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />(c) :Ul payments mentioned in the two preceding subsections of this paragraph and all payments to he made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid'oy the Mortgagor
<br />each month in a single payment to be applied by the Mongagee to the folfnwing items in the order set forth:
<br />~(p premium charges under the contract of insurance with the Secretary of Housing and Urban Development,
<br />ur monthly charge (in lieu ~l nrcrtgage insurance premium!. an the case !nay be:
<br />{1(j ground tents, taxes. assesstnznts. fire and ether hazard tnsurance prrentiwns;
<br />(Ill) interest on the note secured icereby; and
<br />(IV1 amortization of the principal of said note.
<br />Any det3cicncy in [hz amount of any sudt aggregate monthly payment shall, unless made good by the'.4ort-
<br />gagor prier m the due date of the next such payment, a,nsn[ute an event of default under this mortgage. The
<br />Mortgagee ritay collect a `Rate charge'" nor to rxxed f+n,r cents i3y} ibr each dollar (5! 1 of each payment more
<br />~ha,t tureen l i 5) dogs to arrears ro cover the extra expense tnvahrd in handling Delinquent payments.
<br />.,. "That if the total of the payment,< made by rhea xlortgagor under ; t~' of paragraph " preceding shall exceed
<br />the amount of payments actually made by the Mongagee ~:-.r emttnd mnt~. taxe> and a==e.~ments or inurance pru-
<br />mium=, a~ tht• r:~=v mac be. much execs,, if the loan i.~ c•urrent, at fie option of the ylortgagor, shall be credited by
<br />the Mortgagee tin -ubscyuent payment, to tte• made hy° the Mnngagar, or refunded to the 1lnngagar. IC, hawever~ the
<br />^tonthly payment_ made by the Sfartgagor under ?'•; of paragraph _' preceding shall not he sufficient to pay ground
<br />rent- lases and assessment- ar imur.utre premiunc, a~ the ca.e ma} be..?hen the -ame shall become due and pay-
<br />able, then the lhxtgagnr shall pay to the Mortgagee am amount ogee--an to make up the defit•iency, tin or before
<br />the date when payment of such ;;round rent,. taxe-. ~rs,e~~ment~ or in-urance premium, -hall be due. IC at. any
<br />time the ?longxgnr ;hall tender to the Uurt_atot'. in accordance tcith the protisimts of the note =ecured hereby,
<br />full payment of the entire indebtedne-- a•pre=canted themhv, the \lortgagee =hall, in computing the amount of such
<br />indebtedness, reedit to the accewm of dtc xktrtgagor all paymc~rs made ender tltr provisions of cal at paragraph '2
<br />hereof a'fiit•h the Mortgagee ha- not become nblig:tied to pal u, dte ~rcretan of Ilnusing ..nd t`rban Devciapment
<br />and anc balance remaining in dte funds accumulated under [he pntsi-ions of!`•: of paragraph _' hereof. If there
<br />;hall be a default. under tiny of the pmxi~um- ul thi< mortgage re<ulting in a public male of the premises covered
<br />hembv, or if the Mon~ager• acquires the prciperty utherwi~e after default- the ybngagre =halt apply, xt rho time of
<br />the commtmcement of ~uc•h pmcerding-. ur at lire time the prope-nc i~ ntherwi-e :ta•yuiretl, the balance then remain-
<br />ing in the funds accumulated under ~ ~ = of patagruph ' preceding. s, s credit against the amount of princip:d then
<br />remaining tmpaid under paid note. and hail pn+perl? adjust :m. pay me m= whtett -hall hate been made under (a?
<br />of paragraph _'.
<br />a. That the Mortgagor t,di pat gruun.i rent,. ;axe,. assemntrnts.:.acer rate,. sod other gevunntenta( or muniripul
<br />rhargrs, fine.. nr impo;itians, for uht~h prentsk,n h:u not htzn made hrrembrfore. and in dzfaoh therrut thz Mangagee may _
<br />pat tfie same; and that the :Ahtngagor w Hi pramp;h .irfn-er the athctat recrtpts therefor to the ~9urt~gee.
<br />:. l'hr Mongagor ?: d! pac .dI crag, t=htcft mat to lrsird upon the \#orteagee"> imrrest in ;aid real estate and improce-
<br />men[s. and which may he let tea upon the mortgage nr the d2M ~riured hereby abut a!dt to the extent That such is not prthibit-
<br />rd by law and only to the eaten that .ueh wit nut rn.:ke this ?pan uwriousi. hm excluding app ina!mr ru, State or Federal,
<br />impu.eJ on Mortgagee. and w dk tilt the ,+tfic :I rrrript show ing ,ueh pay roan with the 1#ongagee. I'pon violation of this under-
<br />taking, or if the Mortgagor i< prohthiteD b} a~ colt ogee of hercaftrr rxi;ung {root paying the w hole or any portion of the afore-
<br />said netts, or upon the tendenng aC anx coon decree prohthiung the pay mint hr the \iortgagur ur an}"wch taxes, or if such law
<br />or decree pro? idr; that tiny smuum ,o yard by the Mortgagor .hall be ~ardnrd o^ the nwrtg:age debt, the ~lurtgagee shall have
<br />the right tp give Hiner. da}s' written notice to the ot,ntr ei the mortgaged premisra. reyuinng the payment of the mortgage
<br />debt. If such notice br giten. the said dtht sha}I become due, p:+y:+hie anil cofkctible at the expiration of acid ninety days.
<br />F. "that should he fait ar pay any sum or kc2R :my ~,:oven:mt pros~ideD f ur in this Mortgage. ihtn the ~tortgagze, at its op-
<br />tii?n, map pay or preform the same, artd a{t exprndtturrs >n made shah hz added to the principal sum owing on the ahoyr note-
<br />shall br soured hereby`. tied shall bear unerest alt the rate set forth in the said note, until yard.
<br />'. That he herby assigns. trsnsfen and sets oter to the \lortgagrt, to be applied toward the payment of the note and all
<br />sum, srrurea hereby in case of a default m the pertornsmce of any of the terms and antditians of the Morigagr or [hr ;aid
<br />note, ail the rents, revtnurs and income to ht derived lrom the mortgaged premist+ during such time as the mortgage indebteJ-
<br />rtes. shall remain unpaid; and the ;•loctkagrz shalt haxe power to appoint :m} agent ur agrnu it ma} eirsirc (or the purpose of
<br />repairing said premise: and of renting the ;amt and collecting ihr rent.. rrx enue, urkl ma+me, :md it may pay out of said in-
<br />camrs all rxprnses of repairing :aid prrmisrs and nerrssury a+trtma,rents and etprnsrs incurred in renting and managing the
<br />wine Anil of a~llectirtg rentals thurirum: the halnncc renaming. if tiny. to he applied toward the dicrharge of said mortgate
<br />indebtedness.
<br />R. That hr wit keep the imprpxemtnts n.;w eti.ung,x bureftea trectrd art the roar[gaged prapertt. inwred a. may tee
<br />rry;tiired from time m Ume try tht Mortg:tee ate-rmt io„ by tier and other hazards. t:»ualtie, sod contingencies in wch
<br />amounts and for such prnculs er may be required t+x thr ~turtgagrr and wilE p:r} promptly, whin due..,ny prenuun?s an :unit
<br />insutancc p~o,ision fur payment of uhict! has no[ hero made hrrciubetore. -lil meurutce sttal3 he earned to rompames ap-
<br />pruvrii by the Mtn tgytrt and the ptlicies end re ntwale thtte+~f shall t><• held by the Vl nrigaget and hair attached thereto loss
<br />{ntyabk ctausrs in favor of anJ in foetn acceptable to ;he 4#rrrtgagrr. in rx cut of lu,; V ortg: got w itt get r unmrdtate Wooer hx
<br />mail to the Mortgagee. wttu may ntakr proof of tr+;, it urn made prutnpl$' hr Mongagor, and ca.h muuan.c• cnmpant um-
<br />c~rntd is lxrabg !+=uhorizrd afld dirtttd to make p:wrncm f+,r such h,ss due~atty t:+ the b'atigagrr instead of to liar xt,•=caut;or
<br />and the ~turtpagrr #:anrly, and the insaroncr prtx:erds. w any part thereof mat ht aps?let! by the Morigagzc at rt..", ;thee
<br />tc>tt+r reafuaab~n id tf4e !ndrhtedttess ttere~hy seetu'ea r+r a+ the rrstoraUan tit repair of the pro~xr tl d,ait:aged_ fr, rtrrte ~ ~-~lu~
<br />lure of thi§ neartgage or otist,r tr-mts[rr tit tote Fu tbr- m.,npay:ed p[oprrrc !n exttnEUr;hmcrt of the rrafci,irdt:a;t ;:•rt.rr.d regret*t.
<br />all right, title and tnttrr~t tit the McHtg:ytot in srul tit any irx~rrsur.e ,^-of+rats tttrtt in frucc.hall peas a, the putcha,cr or wr ntez-
<br />q_ "1"hal~x addisit»nai aet.f eollatrre! accuri[p fee the Ray men of the note :IescnLied, and all ,ono. to hrcrnti due urtdcr thi+
<br />nrcr:pa,ltc. ctrl Mortti:.yut fttrrbs :rasittn. tzr the kft;nYtaga^.t a3i prvbra, trvrnurs_ tsp,ritres_ lights :=mt benefit, acxnmrg ter the
<br />Matta?r urwler oag end ai! ru• _.,td gzra leau,s .:a? s,rid pr: .tr.c? •~;ih ti;t right t=, t.•:.et,c• ra.1 «e. f; t the ;;care and aVy~h
<br />4tlcm rte .aid n>~fehlrrtoz.v ax wtil before as after defauii m tMv .:undrta•u, ~=f tM. u€zn tgtt;P..md the ~M-±ng:rgrc to-ta. demaetct, .ar
<br />tars nrW rr •+? ~~; eery ,ash p.x,t_'nreflfs '~ ktrtiditr and tyacubi0. htrt shat( eat t~ -_clrut eel a. c j-• '[ ht -_ r.igf'iuteut ~~ W ter!>un.ata
<br />:utd Y~r<.,nu null one; xc•.rd upon role°a.f =1 4has iti:srtgM~,r.
<br />•i.;J ±r,'t~ I0.R it! Ike:
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