|
{ 1 } mcaxath prior to its due data the annua4 maregage insurance pcemstam in order xa pravtde such holder
<br />with funds to pay such p[etnittm to the Secre,taty of fiausing and Urban Devr[apmenx pursuant xa tlse
<br />tiatianai Housing Act, as amended, and apglit~bie Regulations ehereurtder; ur
<br />(If"9 Lf artd so ltmg as said note of even dare and this inxtrurnent are held by the Secretary of Housing and
<br />Elr6an tkwclaptrtcnt, a monthly eharge (rn Gets {?J s rnearrgatge insurance frremiu»t~ w?tick shad he in an
<br />aartouru equal to ono-tvwei$h fl/12) of one-haCf (I(^) per eentum of the average outstanding balance
<br />due an rite note corrtgured vv9thou[ taking into account delinyucncics or peegayments:
<br />{b} A ttum tgttal to the ground. rents, if any, next. due, plus the premiums than will next became due and payable an
<br />pellicles of f`rte aad a9her hazard insurance caveritrg cite mortgaged property, plus taxer and assessments next clue
<br />on the rnortgpgcd property j¢It as estimated by thc^ :l•9<>rtgggeeJ ;ass all sums already paid therefor div7drd by the
<br />nwmtser of nranths to elapse befarr one tnanttx prtar to rise dace when such ground rents, premiums, taxes and.
<br />asss.,essraents wi11 become delinyuent, such sums. to be held by Mortgagee in trust to pay said ground rents, pre-
<br />misurss. tastes anal specie! assessnsants; and.
<br />{e) All payments ntetttiansd in the two preceding subxectians of this paragrapiz and all payments is be made under
<br />cite note secured Eteretav sha€1 be added together. and cite aggregate amount thereof sitael he paid by tlae [vlortgagor
<br />each tnantlt in a single payment to he applied b} the ~4ortgagee tea the folictwing items in the order set fortft:
<br />(l;) premuum charges under the contract of insurance wtth the Secretary oaf Housing and C!rban prvrlopment„
<br />of mernthly clsarge ftn Herr of rrtnrtgtt8r irasura»ce,nrerrtfu»t/, as the case may hr;
<br />4I1~ growtd tents, taxes„ sssassrnents, fire xnd other hazard insurance premiums:
<br />t!!1' j isxteresa an the Hate seeurcd hereby: and
<br />(?Yj antortuation of~the principal o€s~d cute.
<br />:~rtv det'rcirncy in the amtrunt =.af an}' suds aggregate month!} 1*ayntent shall, unless made gaol by the Mop#-
<br />~gar tx~or to the due date of the next such pa} went, cuss**.truce an event of .iefault under this mortgage. The
<br />1Ne;rtgegee array c;rllect a "late casatEe" nor to exceed t„cr .ants t4~) for each dalL3r ig!) t'N each payment mare
<br />than fifteen t S i) t+a;-s tsr arrears to :`river the extra ex;aenSe muoived in handling delinquent payrrtents.
<br />°>. ~T'hau if tht~: i.3ta~l of t€rer pauntrnr= made bu the 4lortgagar under ; ni of paragraph ? pst:ccding .hall erected
<br />the atnxstunt of paymtHtt,4 at~tually s:satlY by list E}e,rt~afa^e~ !nr ttmund rt•nt >. tnxe~ :utd a seae;mQnt~ or in:,urmet• pre-
<br />mum., as the ra::e may be, ~ueh excess. ti rttr taut sc rurcnt.:st ;hr opsim of the \fartpagar, shall lie credited 6v°
<br />the'tlat°t~agett nn sstlt~e+tpaertt pasrtastnt- ta; rte anadtr by tht< }fnrt>_*atiex, or refunded tts rise Sitart~ager. tf, hoaaeucr, the
<br />r,ttuttialy pa}°me~nt~ rzt<ic rv ;he 5icutkagar unrier t-i ui gar<tgr;elatt 'pre:e-c-ciir:g +'rruii nrn :te autiictrnt to pay gratnsi
<br />rtn36, talus axw a<:-r.~srrtc^>3t- or in,=_trranct• prcmaum-, as the case mac he, avhen the same 5ha11 hecrtme due and pay-
<br />ah3e, then the 3idrs~agor'hu31 psy tea thr• blorc~5~t•e attu amount ueee~~arv to make up the deficiera~y, on ar bc+fnrt•
<br />the deny ahtatt payment of -ue,h ground nynr~, ts~t ., asst,--menu ne inttrunr°e prr'mttm.R ,~hnll be due. lC xt any
<br />time #4tp ~tttrt~a~nr rlaali ittnder tar the 1lorta±agee. in xrh^rartlant^Q vvlt€t the prove-aionz ttf the Hate sc,cured hertabv.
<br />full Ga}=wont t~f the entire= indtrhtrtlrtts~ re•pn~st•ntctd tlsereby, thc^ 'llartga,~t*e Whail, in compstiinr the tsmnunt of ~sus-h
<br />indebtcc?n: s.. rrc,{it rca tfie sxcc~unx o€ tlx: '4lartgagar :alt par'ntents +ntxcie nnclEY tiu• pravs,ians of (al of lsaraoraph 2
<br />kaeseuf ah.<~h t, c 11art,~walt.*e h~ autt fretomr obiif;ata*d to pay as the- .'sir°rrvrarv of 1iour;ing ..nd 1`rlutn Devclogmcnt
<br />and saxyhai:utre remaining in the funds are~umulart.ed unsier the praacs~sonn of : ~ of para;,araph ~ hcaret>f. if there
<br />hall lx6 a tlefairlt tender stn}° of the prr:vi~ttxn- nF ihl~ uHrr t age rc~*ult4tag in a putalie salsa of Ute prttmise~ enucred
<br />herehp_ ar if the iksrty=s~ss^r ac~ttuam= thr+ pro7rr~rty utherui-n :cfter dFFauit. the lhtrtkagu at -featl a.pial~, a€ tht~ timr~= u€
<br />fhr eatrsm+eneeme~rst trf Ruts suoet>edin,n+, oar act. tht+ trtne~ the pros;Fr,} sj trihrrw-<• acyuiraad, ettce bdlatnce then remairs-
<br />ing in atria funds ar~r:uneulatcrd und+/r i + a f pa •v~raph _> Estee°+vl'mx. a.= a credit ax,un-t the eamrnsnt oaf principal then
<br />r r^aiaur,_ nnpatd u'rdpr said nede, ;tnd -+hail }:ropt~ri} au9}u~t :ua} pavma^nt Nhich ~haii haute bin nsadc under i a?
<br />». '1"hxt the Mortgagor u<i[d »ae ~tra,. d r:•^t+. :,<xe4, arse+cmtrat;, ,.ettr r:xtCw, :,nd ealher tttverlmcnt.ai a,t msanirtpa!
<br />.>..,rgtw• inc`!t• or ite,pos+tians. fart a 2::eh pr.a: naem hc,ti ntu nresr made fvrrtmhefore. ,±nd in de#;zult therscaf the VM1ortgagrr may
<br />~? the same; ,and that the 9+Jarxg _ <..! rrranpttr dcan~er t3sc erf;: ,.,(rece.pts thrrefcx to the 'u4vr*rt~gre.
<br />5_ The ?alort~gur silt ?;ay ~. , .<-, snt~t: nxae l;r 3crned aap:re the ;biattg.~gee's inters ,t in said real estarze amt improve-
<br />ment.and ahieh rrtay tar irvx:,l ;ti: ryth,• m ,rtgxste .x tlx: <'zbt . ~.rcd hereto tnut c+nlti to the extent that such i+ nos prohihit-
<br />ei by taw and <tn~B.y" tea t&sc eats: .a su.: rn ud@! se:+t mase~. tnr:: .,-.i;r~,.~uis. ter+. exciudxng any incaame t,ex. State s;r Fede,ai.
<br />amt±>~ed nn 4frxrtgager, ttnd •.~i': ~ le r+tc eatfi isl re~:.•rtipt ahsau'snts stt~ n payment wtlh the yet ortgagie upon violation of ahis untter-
<br />s;,kioC. or .f the ~iatt~ra _,: ;. Dr,thi!•-rstd #sti ,;nor fain fttaw er tart,: ; tc~ rv>tit+g from preying the whole nr an}~ portion of the afore-
<br />:ie taa.es. nr tt~scan the rrrss:e•so,u aas ~n}- cUSart tlecrea prehibisittg the payment lrop the ~fortg:tgor car any >sach next,, or of zuctt #tw
<br />t=r drerce provides lilac anti amount sa fetid hx €he vfortgaigar shall hr credited un the mcriea{te debt. the 'vlartgagee shslt have
<br />^;:e agtirta Live tunetp Ua~•." .4ritten trootice u± the cawnar of the mortgaged premises. requiring tfia^ pa}ntent a€ the snortgag~
<br />defist.l€ finch r..~rzce hr gicrr., rise .asst decal shalt taeccame Sue. pay ohs. and calleirifaie «i the ex,piraeion tsf said «inetp afays
<br />t±. TTiat .h,auld he fall to pa> env Burn esr keep any ~ovevtant prtavrdrd far in this Mortgage, then the 14tartgtager.at tra ap-
<br />fifint.tel::± p.:: r,r ^eriarr. the same, and alt expenditures vo tnadc ~Aha31 E+e azttlyd to the principal sum arking em the. ahove note.
<br />lrati t•..:c_ < : c: rrreha . aan;! shall. hr::r interest at the raze rr €czrttt in the Said note. antis paid.
<br />' Th; s hr kerrr•.:,,a.wos_ au,fcrs and sets saver t?t [the ~torrgapxe, ter br a~.phed toward the payment rsf the ncue rand old
<br />su rr,_u;t I nctrra~ , ,.:,e ;,: ~_t:,:sit in t?ar. pcrformanu or an} o€ the term; and c<anditia>os of trots l~,origaee e,r the tiaid
<br />~e x. ai' t5r : r*sts ,ea c x :~ ,r.~ : ,.r, nr .,, [se derived from the naartgaged premises during ouch tune a, the ntartga~ mdrtrtrd-
<br />rtec;5 , a:i r ~srrs %; ;;ura: ~nJ ;tr.-. tS ,r,;;,;~e •rtakl hart gstwer to appoint :sny agent oar ;3.grnrs it ma3r ;lestre aa,r the pur}aose of
<br />:uriny? =.va : N *r_~^::, >, ad ,:. < mr,~ ;r1r ,_,:rce aced txrilecting the rents. rrventse4 and ittcume. xnd it may rain itut of slid m-
<br />tcarrs;, .+.'t ~v;xn.,~: r,t _; arrrrr :i prcm:,e, :ta<s na,t:sxart~ cotraxrrssixansond t.xpenwes ineurrcd in rrnttng and rn:anaFttttg the
<br /><srtte :+rtd r e „]te.:rinc rrnt:at, therefrom: the halanee rrtnainir:g, if :sn}'. to hr applied toward the divch3ree of said mctrtgaste
<br />c Mier! ~ dne» .
<br />;}sac =r ^kstf ~ rn F!1e =mpr:}.rnsen!, rn~w e°~Isaut$ ;<ar hereafter erected W-n the tnnrigaged priapertr, itasu-rd as coati doe
<br />cry ri'e:; ir, rr, sr,. ~ , , ;itrc h~ ;tsr M1?,as*. ,,cz .rz~itrat lcyss by lire and :?shcr hacards. casuahies tend ccantingrr.Ltrs in such
<br />.~m<.rrut aid [n; ,,;ct, grnrki~ sc naav ne r°a.xrc~ t_v the ~artgz~ee. and H~iiS pay ptan:pttu, v;:iren date. enu premiums on satci:
<br />ncurnnc. rr? ie,a t , ~ :._ .~Ircn ti~- :.ui 'xen made hearint+e€ura Alt insurance shalt ?+e s'urxied in camp,ua6ra: a,t~
<br />ed t, c rz~14 o, SdUticc u3 the re ;isle ~, ., t. .: r.cw„~, therer.+ sh:~{t tae helel hg the Mux-ter and f4avr ntt:achrd thrreaa to•;e
<br />F r ,z~h, eta a .r= >n f..+ . :-f ..r,d rr< f:arns -::c sat,A; .e ;h+ ~iettgrtger. to ev~cnt of (lass 4lzwxi;,agor v+~tl!' give rmmrdicnr trot:. r tsv
<br />~~ _ _. ttr4 '6t„y apogee. ~+~:,; e7~. ter, k.,° ne .i -,, _,. _ .~ •,{yt macfogv. *?raprf; by }rtaR~GOr, :anti roc€r in~t~usncc ~ottr;+xnp~ ctvn-
<br />x-'3i~ t, ;: rh..: ;ah..rtzrcl art:: 1 _ _. ~ . : r~r. _. ~ •,, non, t.~r cttCtt 4••, ; ,z~. ! a -
<br />t v tea tilt Ewfcartgagrr ~rtstrad nl tax [hn ~ t.ar
<br />...:a t.r^ L4. t~e~sc rt.,i t,,,, mv# tw_ r. i... a.:.._ P ~,:C~°!~ ;,: rocn:=rt S2tr rc,rf_m',. ~c nacri €ae
<br />na - 2=x,,xc, _, s?x ,:~..,: rr,5na-~, dar~rr-^ as ~p .the Rtrhrtgat,ce .t its ,,:^ c.i_~. t
<br />' -. sr.•±, r. ,.. x~r ,.,.,r ~ iRCar,apern cianrasrd a evrnr ,t"r: ,•..
<br />.f:r r- .. [~~,ti<, ,. ~r el r. ,c 1~. ih,~ n ^ r /` -Fe' ta=-,acre t m c ,ni. rt' m~nr oaf 4Yfe YGElehte{in0 , .,~{lit F~ ~ gtsx.
<br />_ e. ti se, - )as E.m.w••u_ .,., xt tr•:~ ~a ,,e.uren,c <. ,znn ~- <~i ,. ... .• eo Tfee prtrc ha„~: -. strtce
<br />..,
<br />.- ~ud'.tr ...a..~ t. _ . < . ., -.> ,h ...,cry , ''c n i<•:r:~ :,
<br />, ~- .arts t~~tac Exrrse a'.,r ;:~.~r th~6
<br />.~-N'C ate. HF c. [~~ .. ,. ~,'... „k. ..:c. ,_r .r .. iT6i 7?~M`rF€ too the
<br />,f.'a sjl~r r ...F. [: a.C .( r... T « -._ ._~ .r. ,:r Ir .. .. .. _. ., `;,ir .. s
<br />ra.- . ~r,- -s~n,ttr a .. _ ~ ~ ~st, ..
<br />
|