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<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 anti urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Re ¢ulations thereunder ur
<br />(IID If and so long as said note of even date and this instrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge /in lien u(a mortgage insurmtee premium) which shall he in an
<br />amount equal to one-twelfth f 1112} of one-half ((!_) per centmn of the average outstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments;
<br />(b) A sum equal [o 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 />on the mortgaged property /all as estimated hr rha;Nortgagec•1less all sums already paid therefor divided by the
<br />number of months to elapse before one month poor to the date when sudt ground rents. ptemiunts. taxes and
<br />assessments will become delinquent, such sums to ht held i,y Mortgagee i:. trust to pay said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />("cj All payments mentioned in the two preceding subsections nt [his paraeraph and a!I payments tube made under
<br />the note secured hereby shall be added [ogethtr. and the aggregate amount thereof shall be yard by the Mortgagor
<br />each month in a single payment to he applied b7 the Mortgagee to the following hems in-the order ut ford[:
<br />(1) premium charges under the cun[rac[ of insururce with dte Secretary of Housing and Urban Development.
<br />or monthly charge iin lira wf mortpaye rnrurmme premiten;i. as the case may be:
<br />lilt ground rents, taxes_ assessments, lire and other hazard insurance premiums;
<br />(III) interest on the note secured he2by; and
<br />jIV) amortization of [he principal of said cote.
<br />Any deficiency in the amount of any such aggregate monthly oav-men[ shalh unless made good by the Mort-
<br />gagor prior to the due date of the next such payment. consntute err even[ of default render this mortgage. ~T}te
<br />Mortgagee may collect a "!ate charge° not to exceed tbt:r .•cr.ts (~,tf fur each dollar (S'k) of each payment nrore
<br />than fifteen { i i f davs u? arrears to cover the extra expense involved in handling delinquent payments.
<br />,. That if the to1a1 of the garments made h}' the Mortgagor under ??,J of paraeraph _" preceding shall t•sceed
<br />the amount- of pay~mcnt~ acmallc made bt- the 11or[~roece far around ten[-:. tazt~- and ~~es-m ent<; ur insurance pre-
<br />miums. a.~ the cae mag be. -ach excess. if the loan rs current, at the option of dte Mortgagor, shall be credited by
<br />the llortea>!ee rm =ub-:equt~nt pat~ment~ to be made by the Alortgaror. ur rt•funded to the ,Mortgagor, iP, however, the
<br />monthly pacmenis made by the Mortgagor tinder +i.r of traraxraph 'preceding sheet! our he sufficient to pay ground
<br />rent, raze= and :~ecasmcnts or insurance Ixemium~.:u the c:t~e mar He, :+hen the =amc shall hec•nme duo end pay-
<br />able. [hen thc• 11or[g:agnr ;hull pay to the Murteugee any amount nece-.an u+ make up the deficiency, on or before
<br />the date when pavmr•nt pf .such ground rent, rater, a~-e=sment= ur insurance premiums shall be due. If at. any
<br />time Ihr Mortga,or -hall tcvuier u+ the Mntteagee, in accordance wide the pro:-i-iun~ of the note secured hereby.
<br />full payment of the entin• indzbtedner~ reprr~ented thereby, the llortgaaee shall, in computing the amount n[ such
<br />indehtc-dnrss, credit to the account of the ~fortgagur afi pavTrtcnts made under the provisions ul :+:i of paragraph
<br />hereof which the Mortgagee ha- nut become obligated to pay to the ;~ecmtary of Housing ..nrl l than llex•elopment
<br />and :un' balance remaining in the Cund- accumol:rtrd under du' pruyi-loin of %~,~ of paragraph _' hereoL If there
<br />-hall he a default under any of the provi=loot of this monaage resulting in a publit• ,ale of the pmmi~•s covered
<br />hereby. ur if the 1lortgagce acyuirea the property otherwiso after default, the \lortgagee <hall apply, at the time of
<br />the commencement of -each proceeding-, nr at the time the property is uthenyiye acquired, the hulance then remain-
<br />ing in the funds accumulated under t-'N of paragrrph '2 preceding. ae a credit a~ain~t the amount of principal then
<br />remaining unpaid under <aid note. and =hall pn;petiy adjust :my payment= which .-hall have Leon mails under (oJ
<br />of paragraph a.
<br />a. Thai the 'vturtgagur wi@ pac gnxurd rent. ruxea, u,ses.;nrenb. +yuter ry[ts. and other guvernmentul ur municipal
<br />charges, fines. or impositions, for :+-hich provisie:: has nu[ bean made hereinbefure, and in default thereof the Mortgagee may
<br />pati the same: and that the Mortgagor w il: prc,mp[ly deliver the udicial receipts therefor to the ~1urtgagee.
<br />~. The 'vlortgagoe will pay all ur.xes which may he ias-ied upon the \lurtgagea'< interest in sail tea! es[nte and impro~e-
<br />ntenn, :end w hich miry bt levied cyan this mortgage or the dtht secured herehy (hut only to the exrtm that such is nut prohibit-
<br />ed by law and only to [he extent [hat wch will not nwAe this luau usvriousl, but excluding any income tex, titate or f'edtrtl.
<br />imposed on Mortgagee, and will file [ha official receipt .hawing ,ach put meet y: ith the ,Mor[gxget. l'pon violation of this under-
<br />taking, ur if the Mortgagor is prohibited by any low now ur hercaf tar existing from paying the whole ut any portion of the afore-
<br />said razes, or upon the rendering of any court decree prohibiting the guy meat by the ;Aturteagur ur am' such rases, or if such law
<br />or decree provides that an} amount su paid by the Mortgagor shall he credited un the mortgage debt the Vlurtgaget shall have
<br />the right to give ninety days' written notice to the t~wne~ of the mortgaged premises. requiring the payment of [he murtgmge
<br />debt. If +ach notice he giv-en, the said debt shall hecume due, payable and coliectiHle at the espirttiun of said ninety days.
<br />6. Thal ahould he fait to pay any' sum or kctp any-cccenant provided tar in this Ahrrtgage, then [he bhyrtgagee, at iv op-
<br />tion, stay guy ur perform the same, and all expenditures w made shat; he added to the principal sum uu ing on the above note.
<br />shall be secured hereby-. and shall bear interest at the rate set forth in the .aid note. until paid.
<br />'. That he hereby a.<signs, uansfers ;end <et+ over to the }torigag~e, to he applied toward the payment of the note and all
<br />sum. secured hereby in cast of s deL•udt in rite performance of any of the terra, :utJ conditions of this ~turtgage or the said
<br />note, all [he rents, revenues and income w be JeriveJ from the mortgaged prc;nises during >uch time as the nwrtgagi• indtbtcd-
<br />ness shall remain unpaid; and the Mortgagee shall h:r.e power t.+appuint any event or agens it may tieaire for the purpose of
<br />repairing said premises and of renting the some and collecting the rents, revenues and ineunre, and it may pay uui of said in-
<br />comes af] expenses of repairing said premises and nacessan~ cummi+siuns aad expenses incurred in renting and mamrging the
<br />same and of collecting rentals Iharefrom; the balaoce remaining, it any. to be applied [guard the discharge u[ said mortgage
<br />irdebtedntss.
<br />8. That he wih keep the intpruvi•n;eris riot: existng or hereaRer erected on the nrortg:r~ed prupert}. ituurod ae mar be
<br />required front time W time by the Mortgagee .~ainst loss by fire and other hazards, a+smduce and cun[ingenacs in such
<br />amounts and fi.[ such periods a5 maq he required bt the llortgagce artd wit! pay pn?ntp6y, ~.:-hen due. any premiunn on .ach
<br />insurance provision far payment of which has nu[ been mode herahibefore, all insu rmca shall he curried in companies ap-
<br />pr.:ved by the Mortgagee xnd the policies and renewals then•ol .half he held Hy the Mungaget and h:ne attached [hereto lugs
<br />payable ctuuses [n favor of amd in form acceptable w the tilortgagee. hr e: cm of fuss ~f ur [gager will give imrtedtate notice by
<br />[nail to the blurtg:rgn~e, wft.? may make proof of lox:, if not made prurnptl} by Mvrt,eago:. and mach ittwranee csnnpany am-
<br />cerned is hereby :mthorizeJ and directed ts* er;ek-e payrnem foe each fun, dirc,-tly= ro :he ~turtg;rgee in,te.e +~f t~° the. Mortgagor
<br />and the iturtgagee ioind9, and the insrrrmrce prUCecds, oruty past thcreef, n,ay he .+pi,lied b} the J-fuuu,<. ..~ .+ption either
<br />to the reduction o[ the inttebtedness hereby= secured ar tv the reste,ration :,r repuir+~f the properr, damae+~. _ ~rnt of forec;o
<br />.arc of [His ;;tattgagc or usher hansfer ut tide is the ;uurty:.agc.l pn!ptrtp in czhngurshnrtnt of the mdahrccint-,. ;raurtil trrrtkr} .
<br />+11 right, tint <;nd interest e•f the Mortgagor iu and R? any insurance Policies thin in fore shall pstss t.a tltc purchaser nr gr:uriec.
<br />9. •hfwt ay addhinnal and-a+liatcra! aerutit}-for [he pa}-utent of the note devcri!>ed, and all sr;ms :o fucotnc due under this
<br />rnartgzge. the Murlgsg--'+t hereby asigne to the M1l2rtgngee r'st psi,fits. revenues, ~oyaiuas, rights .end hcnent..:cat:ing :++;hc
<br />S{ryuKaKt+r arnwltr ani~ and :+1f oie :+nak Aaj i~•a••~a uo =::id prentise y. ;tith t't-~ right to ,tress,- :cud r:.: rtfv fc+t i#rc ;:+mc .:„ p; iy
<br />them r> seed indrl*tedness as wtN i>ef+~re ~, alive default in the cs•ndttiem of tis;nang.rµc,.:nd rise \9ortgugre ma> dern:rr.+t, sac
<br />far atul rlCO:et .ray vu~h ya}nicnG w1t,n due auc pat rthfr, hu, sb.l([ nut he Ye+pn,~~J ~.. t~~- _h; (hip c+`- ~. t^nc n! i. i•. tc ~nin,;i+r
<br />and br.-rt+rnc [tuft and vend upon reiras~ •,` this mente.:y_e
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