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(1 j nranth prior air its due date the annual mortgage insurance premium in alder tv provide such holder
<br />with funds to pay such premium to the Secretary of Housing and 4hban I3evelopment pursuant to the
<br />National Housing R.ct, as amended, and applicable Regufatians thereundcz; ar
<br />(]I) tf and so long as said Hate of even date-and this instn;trent are held try the Secretary of Rousing and
<br />urban Dcvefapment, a monthly charge firtlietr c?f a ra©rtgage irtsurmrce prt?ntiurn) which sha11 be in an
<br />amaaant equal to one•iwetflt f? jt3} of o[te-half {I (?} per centum of the average outstanding baeance
<br />~ due era the note computed without taping into account delinquencies or prepayments;
<br />.wi s turn equal ry :rte g.=aund rents, if any.. next ,a~aP, plus the premiums that wilt Hex? bct:amr du? axrd payable ran
<br />policies of ,rte and atlter iaaard insurance coret3ng ttte mortgaged property, plus tastes' and assessmertc [text -due
<br />an the tnortga~d property (a/1 as estiinatetl ty the Iriartgagee) less ati sums already paid therefor divided try the
<br />nunibcr of months to elapse before tine month prior to the date when such ground tents. premiums, loxes and
<br />asses~aytenls will beoome deli_rqucnt, such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />, ntiun.s, taxes and special assessments; and
<br />~ (c) AlI payaents rztentioned in the two preceding subscctiaaas of this paragraph and alt payments to be made under
<br />t'~i tlae Hate secured t:ereby shalt be added ta~zher, and the aggregate amauat thereof shalt be paid by the Mortgagor
<br />'~° coca month in a single payment to be applied by the Mortgagee to the folkowing items in the order set forth:
<br />(I) premium charges tinder the contract of ensurancc with the Secretary of Housing and r~rban l?eveIoprrrirnt,
<br />ar manthty charge lira lick na' nzcsrr?age ins~rat~t-'~?~r~rl2iitm 1, aS the caSZ may h~;
<br />{II) ground rents, taxes. assessments, firc and other hazard L•tsurant;e pr miums:
<br />{III) interest on the note secured hereby: and
<br />(iV} amor'uzation of The principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless mach good'oy sere Afbrt-
<br />gagor-prim to the due date of the next such payment, cuustitute an event of default under ihismvrigage: The
<br />tr9artgagee stay calieci a "late charge" not to exceed four cent_ {~fr) for each dollar (SI) of each payrieitt more
<br />loan fifteen {I S) days in areas to cover tae extra exr,ense involved in handling deiirquent gaymerita.
<br />3: - That if the ta#:,I of the paj2tt€nts made by the 't'Iot•igagar tinder i 5l of paragraph 2 preceding shall exceed -
<br />~he an[aunt of payrtte~ts actually made b_, the. ~tortgag€fl for urd rents, ta~;es attd as~ssmen~ or insurartec-pro-
<br />miuats, a{ "she case may be, such excess, if the iz;an is Curren=, at dip aptiors of the Aiartgagar, staakl Ire credited by
<br />the ~iartgagae on subsequent paynasnts tc be made by the 4lartgagar, ar refunded ttr f#ae M1iartgagaro If, however,-the-
<br />^sgnthly patttaents mach by the hfottgagor under (b) of paragraph 2 preceding shall not Ire sufficient tti pay. gristitd
<br />rent, taxes and assessments or insura»ce premiums; a_~, the case may ire. when the =orate shall bec~vme-doe and-pay-
<br />able; then the Siorit;agar shall pay to fire itlaa~tgagee anv amount n€cessary to ritttl<o s=p the deficit=ttcy, an ar befnre
<br />the-date when payment of suefi ground rent~ti, loxes, assessment= ar inA..uraatea premiums shall Ile due. t£ sat any
<br />time the yi9ortgagor shalt tender tc thQ 5fortga„ee, in acearviarice'hiC: ttte praviaioat~ of the note secured herekp,
<br />full paptient of the entire indebtedness represented ilaereby~. tit€ t€ritiagte shall, in :ampuiing the amour[: ~f 5urh
<br />indebtclness, cr€~..it za the ncccrant of tI:?: Mortgagor al# roayrzsenrs made under else p!'ev+sio*ts of (~,1 of paragr~..- Z
<br />It€:-eof uitich the ~Iortgxf;2e Itas not became obii~ated to pa}' to 4hR ~ecretaty of LLausing and Grban i~.•els~nt
<br />and any halarace rsinaiiaing in the funk `accuteulated under the prop is€ons of {~, of paragraph ~ iiereaf. If there
<br />s1tall be a default under anv of ike provisions of this trarfgage tesulis g in a fubiic sale of the premise= covarn_d
<br />ItereL~•. ar i€ the 1ltrrtgagee at quires the property athervtise after default, the 1lartgagee :,hall apply, at the time of
<br />et,e eommenssetnertt of sr= h proceedings, ar at the time fhe praperis° is ottterwi,~e acquired, the balance then remain-
<br />ing fill i;~te funds aecumttlatcd under fhj o€ paragraph ?preceding, as a ecedit a„ainst [lac amount of principal then
<br />remaining unpaid under 4aid Hate, anti shall properly adjust any- payments a°hich shall hale been made under {'QI
<br />of ?;araara?rh `Z,
<br />4. That the 'vtartgagor will pa} ground rents, taxes. assessments, voter rates, and other gavernmenfal or municipal
<br />-- .`F~c=,. ,,,. , . -- - ~:{t. - _ f„, n ~^'t pr.,:isi~.n ;43- °-- - - ` mndfl ~o,._ nt.ef,, e nd ,~ dSfY„tr L?terear She 1s_nna~~ ~ srs~_~ -
<br />pay the same; anclYzhat the ortgagor tuil3 promptly dzliver the official receapts therefor to the ititorigagee.
<br />5. The Mortgagor u•ili pay al? taxes u9tich may to levied upon the Icrtgagec's interest in said real estate arid improves
<br />meats, and °.=+i?ich may ^= .. ..~~ upc~. fhis ~ --te ar zlte u'cvt sccuvd i erebY?i:ut otiiy to ilae eztent t,aai s ch rs ncr prahibit-
<br />ed Lry law gad only to theLextent that such wiiltnot [Hake this loan ustariousl, but excluding ant` income tax State or federal,
<br />imposed an iviartgngee, and will file the eRicial receip€ showing such Payment with the Mortgagee. Dpon vioeatian of this uratcr-
<br />Yoking. ar if the t.,artgrigar ic_ prohibited by any lots Haw er hereafter exis€ing from payvng the whale ar any portion of the afore-
<br />said taxes. ar upon the rendering of any Caurf decree prohibi€ing the Payment ty the'rtor£gagar or stn such taxes, er if such law
<br />nr d yrec prae•ides that any amount so paid by the S7arzgacar sh=ill ire credited on tiae mortgage debt, tine Mortgagee stsatl have
<br />the right to give pipet}= da}'c' c:ritten notice to the owner of the mortgaged premises. requiring the payment of the mortgage
<br />deli. tf such t,oti+:e be given, the said debt shalt become due. payable and collectible at she expiration of said ninety days.
<br />ti. T"nat should he fail to pay an} sun: ar keep any vacunan: provided for in this 'sortgage. then the Mortgagee, at its op-
<br />tinn. may rte?}- ar pcrfarm the same, and alt exg;°ndizures sa made stroll be added to the principal sum or+•ing an thr above note,
<br />alto?I be secured heretry, and shah tear inzs re+t at the r.:te set forth in tFe said note. until paid.
<br />7. ?hat he ItereAy a=sigrts, transfers unit<et~ asAr to ing ~iartgagee. to be applied tau'ard the payment of rite Hate aatd tilt
<br />suz;is sectrred Itereb}' in retie <:f a dcf,:.:1i isa the p~rfarmaoce of any of tltc terms aazd canditiaas of ?hi='r4artgrge ar the said
<br />acre, till the rents- revenues and inearne tct l,t derived from the mortgaged premises during such time as the mortgage indebted-
<br />rtess sital# remain unpaid; a ? the Aeartgagee shall I-:ave pry>~- to appoint an} agent ar agcntstt mxy desire far the purpose of
<br />repairing.said oremisas and of rerltng the Same and ccilecii ;.; tai rents. revenues and ancome. and it may pay cut of said in-
<br />s:ermes all expanses of repairing said premises anv necessary corr;•nfissions and t;xpenses incarred in renting and martagittg the
<br />same and of cat?ecting rentals tfaertfrom; the tralar<ce remaining, if any. tabs applied toward ilte ~aa'~age of said tnartgage
<br />irdutstzd,-ess. .
<br />8. .hat he wilt keep the impravetrients nary existing ar hereafter erected on the mortgaged property, insured as tuay be
<br />required from time to lima by the ~#eregagee against lass by Pee gad other hazards, casualties and contingencies in suph
<br />arnaunts-and far sztch periods as-may be required by the 4arfgagee and will pay promptly, when due, any premiums on such
<br />insurance provision far payment of which has rao; been made hereiabefore. Alt insurance shall ~ carried in companies tip-
<br />- pravt;d by the Mortgagee and the policies and renewals thereof shall be held by itte It#artgagee and have attached titereta foss
<br />pa}able clauses izi foyer t?f-and in forth acceptable to the Mugtgzgee.,ln event of Ions Mortgagor will give immediate notice Icy
<br />mall tri-the t~turtg€E, who-may make proof of lpss if Hat--:lade promptly 6p A3©r€gagor. and each insurance company eon-
<br />- u--a~d is f~2by autt-iorized and directed to make prxyateittfgi such toss directly to iiie A.torigagee instead of to-the Mortgagee
<br />and ttre Mortgagee jalntly: and the insurance glroceeds. „ratty part tftereaf, maybe applied by the Mortgagee at its option either
<br />tothe-reduction of the inde5fed:tess'iiergEry secured cr urthe restotatioti orrepairof the property damaged. In event at foreclo-
<br />sure st this mortgagror athisr transfer-ot title tti'tie iatcrrrgageil property in extengu#seiinert of the indebt~tuess secured hereby,
<br />all.ri~zht, iiti€ -and interest €Sf the ~tartg2g'~r in and ic, n; insu,.titsc policies then in force slratlpass to the purchaser ar gr-,sstea.
<br />~. F flat as additional and cos`Iaiera? security fqr fire payment of-the Hate described, and all sums to Imcome due under this
<br />mortgage, the Moiigagar hereby assigns to tfte Mortgagee ail profits: revenues, royatties, rights and benefits accruing to the
<br />Mortgagor tinder airq'and al! oil and gas teases oil said premses, with-the right to receive and receipt for the same and apply
<br />thean tc said indebtedneSS as web before as after defauii in tf;eevndidans of-ibis mortgage, and the Mortgagee may demand, sue
<br />far and recover any such payments .when due and paYa6le; but shall n<:t Ize required sa to da. This assignment is to terminate
<br />and became null and void upon release of this m~go;"'
<br />f iiA 2tdaM rt0-77S
<br />'.ns
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