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{#j month print to its due date the annual rnartgagc insurance prenttunt in order to ornrd;r such holder
<br />with funds to Day such premium to the Secretary of housing and urban i}ave?upment pursuant to the
<br />Is'atiarta# tiausfng Ar¢, as amendet#, and appli::attle Regatations thereunder: or
<br />(tt) tf and so tong as said Holz of even date and this iastrutnent are he#d by the Secretary of housing and
<br />Urtaan E}eve#opment, a monthly charge lief lieu cif a mortgage irrsuranee premium; which s:talt be in an
<br />amount squat to ant-Lw~elfth (I?l2j of offs-ha#f (i/2) #aer centum of the average autstand#ng ba#ance
<br />~~ due oa €he note ramputed vviihauf taking into account dz#inqucnries or prepayments;
<br />-(iii A sum equal to the ground rents, if env nzxt dui ~tus the pre!rir,n,s that w•i!#nPxi ?>acam,.~ dam attd payable ;;n
<br />~`° {colic€es of s#ia and at#4~i hazard insurancz LCr~ringaftc ma;igtd prcp~rty, plus taxes and assessments nr:xt due
<br />on fire morf~a d ra
<br />ge p perry (at3 as estimated iat% the ~fvrtgrtgee! #ess al# sums already said therefor divided by the
<br />~ .number of months to a#apsa before one month prior to the date when such ground rents, premiums, taxes and
<br />as~ssnterts will became de#inqu~ztt, such stuns to tae ite#d-by Mortgagee in trust tb pay-said ground rents, pre-
<br />.~ mit~n~, taxes and.spzcia? a~sssnenis;amt
<br />Ce} tR#i payments mcaztioned in the two preceding subsections of tt,is paragraph and at? payments to 6e made under
<br />,~ .the Hate retuned hereby she## be added together, and the aggregate amount hereof shalt be paid by the Atorrgagor
<br />tE eaelt month in a sittg3e payment to be applied by the Mortgagee is life fallowing items in the order se# forth:
<br />(t} premium charges tender the contract of insurance with the Secretary of housing attd llrban tlevelapment,
<br />er monthly charge j;n lieu of mortgage i:tsursr,ce prtrriutnJ, as fife case may 6e;
<br />(t1"} ground rents, fates, assessments, fire and n*,her hazard insurance premiums;
<br />(liij interest cot the note secured hereby; and
<br />(t~') arz<?rtitatian of the principal alt said note.
<br />Any defcizncy in the amount of any such aggregate monthly payment steal?, un#ess made pond by the 3ii}rt-
<br />gager prier to life due date of the next such payment, eu.sstitute an event nt default under this morgage. The
<br />Mortgagee may ro##ect a `fate charge" not to exceed four cants {~gl far each dollar ($ t } of each payment mom
<br />than fifteen (? 5}days ire areas to cover the saint expense love#ved in handling dzGnquent payments:
<br />3. `t't€at if the total of ilia payments made by the ,'.3nttgagar linden ;'bl of parageaph 2 preceding shalt exceed
<br />tits amount of payments actual#y made b}~ Etta tortganee for around rents. lases and as.~sLmonts or insurance pre..
<br />msutr;s. ,w the case may be, such excess, if the tam is rurrenz, at the option of the rlltxrgagor, shall be credited by
<br />the ;liortgagoe on s¢hsequent payments to be made by the llatfgagar, or refunded in the Mortgagor, i€, however, tho
<br />tttonihiy payments made try the }#ortgagor uruler {L, of paragraph Z preceding shalt not be su##icrent ifs pay ground
<br />tent. tares and asssssmestts. or insurmtce premiums, as the case may be, a•Itrtt the same =ha#I become due aitd -pay-
<br />a#~te~ then tfte 14tottg~ar shall pay to the llartgairee-u,~y attt:suaf nere4sazy to rooks up fife dsf#cistiey, aft at-~i€fare
<br />the date when }rayment of sued ground rnn#~, tae_.s, assessments ar in~urancerrr~miunts shall he due. If at any
<br />-time the Mortgagor sitalI tender to the 4fottsagee, in apcardance rtittt the provi~ians of the Hate secuied hereby,
<br />ful3 paytnsnt of tCte entire indeh:zdite .~ represented thetnhy, Ltte y;nrtgagf*s ~l;all, In _i:omputing the amount of such
<br />indebtedness, ere lit rc the accatrnt of the 3inrtgagor alt p.svments made under the prccisiors of ia) sf paraC-~~ 2
<br />..hereof which t#te tiartgagee has not became abtigatet# to pa}' tfa tt¢e `;ecrntan' trf tfausing and L';•han t3eveltrptnent -
<br />and atr}* balance reinaratnv in the fund- aceurntttated under the pro=[-Ion; of (!>t of para~rap?i 2 her€~f, ff there
<br />shad be a default under an} ref the prosisian~ of thi mnrtgagn t•ssatting in a puh?ic aa3e c}f the preaises coveted
<br />ItErehc•, ar i~ thn 1~rf~oanen army:ms the fl nparte nibs... wfirir d°favii +h~ ~4 rrsYaE€`~ eha## app; ~, at ilia i°me ai
<br />the commettrsment of such praeeedin s, ar az the time the prapert~ is otherrsi4e acquired, Lhe balance then remaitr
<br />int ir. ilia funds accumulated under,'L' of paragraph ? preceding, a~. a credit :against the amount of principal t=hen
<br />r~tar'ning unpaid under said ante, amt shall properly adju-t nay payments wftieh sltatl haver here made under,°a;
<br />at" pat`agrapsi ~,
<br />~. 'I-tta¢ the 'vfnrzgagnr tvif? pay ground rents. tare=_, asszsstnents, water rates. and other govzrnmenial ar man-icipat
<br />charges. fires, or imposiuans, for which protlsian has not bee n n:-awe hereinbefarz. and in def=alt thzreaf the ?4iartgagea may
<br />pay the same: and that the's4artgager wi?1 prompt?y dehvzr the o,`;',cia? receipts therzfnr to t#te'.~fartgagez.
<br />c- Tb,e ~t„cs.tgr~r =~ I pay a.# taxt> tYlticb ,~:- t tae i~iFcd u~'i%*n tax ~iarigagee's interest itt said real estate and improve-
<br />menu. and which may bz #etied upon this nxortgage or the de}t secured herzby €but snip to the extent that such is ttai prahibit-
<br />cd by tau' and attty to thz extent that such tt-i#1 nr.¢ make ibis kran usurious!. but ear?uding any income tax; State ar Fedzral,
<br />imposed an htottxagee. and tviti fi#e zits :.metal receipt sho~xing such payment with the Mortgagee. tJpnn vin#atinn of this undet-
<br />tai.ing ar if the Mortgagear is prohibited by any taw now, or hereafter existing from paying the svlio?z ar any portion of the a£are-
<br />said taxes, ar upon the rznderir~ of any court decrze prohibiting the payment by the 4fnrtgagor or any such taxes, ar if such#aw
<br />or decrez provides that any amount so paid by the hiorig.•tgor sha[1 Ere credited nn the mortgage debt, the 4iorigagzz shall hate
<br />the righF to pit;, ninety days' written notice to the owner of the merigagzd premises. requiring the tayment of the mortgage
<br />debt. tf such naYSCe be gi;'en. the said deh€ sha?i becnmz due. pa=~ablz and catiectib?e at the zxpiratian of said ninon-days.
<br />6. Tnat should he fail to pay any sum or keep any covenant provided for in this ~lartgage, then the '.iortgagez, at its op-
<br />tion. may pay ar perform the name. and all expenditures so madz shall bz added to the principa# sum awing on the above Hate,
<br />sital# be szettred hereby, and shall bear intzrest az the rate set forth in thz said note, until paid.
<br />7. "Ifiat hz herzby assigns, transfers _nd stiv afar to ahz ?4iarigagee, to be app#iest toward flit payment of tf',z oats and a!I
<br />sums secured IS&rzh4~ in erase of a defsn't ^ t`:: ~ ~f•~rmancP of a .•; 'ha tzrtns anu c .•:ditiens ;:f this af~rtgage cr the said
<br />Hate, aIl the rents-revenues and inramz to ire deritzd from *.Ire mortgaged premises durng such time as tfze mortgage indzbted-
<br />ness.s#tal# rezrtaitt unpaid; and the sita-;tgagez shat! have po..•er to appoint any agzm or agents tt may desire for the purpose of
<br />sepaitiag said premises and of tenting the same and ra??e+:lirg the rents. €e.~enues and income, and it may pay out of said ia-
<br />ttita'cvsail e; p€t=see o#•re-~~-'~•±gsaid-pret:.is2s ::rd nrczssa y cmm~tissions and esper;ses incurred in reutii~and itsanagiitg [he
<br />ruins and of collecntig iontals tdterefrnm; Ltte bafanrz rzmaining, if any, to bz applied toward tbz discharge of said niattgage
<br />itxteEiteditsss.
<br /><g.' T~€.hz yyil# l~cir ilia improvements rtf}w' existing orite-cafter elected na -the mortgaged property, iasuizd as may. be
<br />xgtiiied from time rn ti,-;te b}• tt3c ~#ortgagee agaanst hiss by fire and other haaards, casaa#ties and cantittgeacies in-such
<br />amourttr. and for stselt petifrda rs~nay ~ tegtt+'red liv the Mortgagee acrd wilt pay promptly,. when due, any premiums ote such
<br />zitsuratteQ praFisiari.for pa}mzat af-vrhieft=has not bzea made tsereiabefare. AIt insurartcz shat# ~ carried ?n companies ap-
<br />praved bythe- Mortgagee ana the policies and renewals iherec*f sha#i be held by the- MszrtII~Wg and have aitachzd tfiereta Coss
<br />payable clarx~zs in favor of and inform acceptable to the t~fangagee. its eYZntof {ors-t~5artgagot wilt~lve immediate aetice by
<br />mad is-dire t~agez. who may mr.I:s proof of -loss if licit made ptomptty by tvtvrtgagar, and each instu'aiiee campaity con=
<br />certtef is~hcre$y auttmrized ansi directed tit make payment for §tr€;h flies direetty to ills ?Ni~ttgagce i~tead of to t~ i4fottgagor
<br />etas! the ~tortgageeioiatty: and the iasttiaace liroeeeds, car an} ,part therebf, may biz applied by the bforlgagee ants pptioit gittter
<br />#~t?~-cd;:.:;.:,:.: t~ inde#~tadt;ossGe~'sy~°4ured t ~t5er_-tar~f»irn4tr>.pairdf t#ieptapertydamagnzt. tnevttitof faretta-
<br />sure~tf this mortgage or tatlxt ttansf~ra# title to tEtt t,ta3rtgageii property in extitigaishmzat of the indebtedness secured hereby.
<br />a[I right zittx atui inteaest o{ tits ?ytetttgagar in and to oily lit suratn:e poiiciei theft in force s#iail pass to the purchaser ar grantee.
<br />' 9- 't'hat as add-etional attd cotlatetai iierurity #©r titepayment of fife note desrribei3, and ail sates to became due under this
<br />ins~rr~age. t#ts;3#t~giar tteteby assigns to fife ?43ortgtag~. 2ti prsfits; re;°Yttti~, royaltii;s. rtghtc and benefits acrtuing to thz
<br />~irirzgagor uruizr anq end alt ail tinft gas !sorts on said oteniises. with the. right to receive and receipt forzhz same- sad apply
<br />them to said itutebtedness as we?I before as after default inthe conditions of-this martgagz, and [he IWforkgagee-may demand, sue
<br />for grid tecaver any such payments. when d•.te and nay able, h;;t shal# t:i?t be required sa to do. This assignment is to terminate
<br />and become null and <aid upata rclzase of this mfi~l~agtf. ,
<br />- - ~FiR =5a3M ttn~771
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