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79•- ~ ~ ~I ~n nth prior to its due date the annual mortgage insurance premium in order to provide such holder with funds to pay such premium to the Secretary of Housing and urban Develnprnent pursuant to the National Housing Act, as amended, and applicable Regulations thereunder, or (II) If and so long as said note of even date and this instmment are held by the Secretary of Housing and Urban Development, a monthly charge /in lieu oja rnorrgagc litsurance prerniunrJ which shall be in an amount equal io one-twelfth (I(12) of one-half (1(~) per centum of the average outstanding balance due on the note computed without taking into account delinquencies or prepayments; (b) A sum equal tq the ground ants, if an} ,next due, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covzring the mortgaged property, plus taxes aad assessments next due on the mortgaged properly (a[1 as esrdrmtr,! h, FF:e df<r;tgagreJ Itss al! sums already paid therefor divided by the number of months to elapse betore one month prior to the date when such ground rents, premiums, taxes and assessments will become delinquent, such sums to he held by Mortgagee in trust to pay said ground rents, pre- miums, taxes and special assessments: and (c) All payments mentienzd in the two preceding subsections of this paragraph and all payments to be made under the note secured hereby shall be added tcgedizr, and the aggregate amount thereof shall be paid by the Mortgagor each month in a single payment to be applies by the Mortgagee to the following items in thz order set forth: {I) premium charges under the contract of insurance with thz Szeretary of Housing and L!rban Devzlopment, or monthly charge /in. lieu qi nturt,agc insurance prenriuntl, as the case may be; {It) ground ants, taxis, assessments, tiro and other hazard insurance premiums; t iiI) interest on the Wort secured hereby: and (IV) amartizatfon of the principal of said note. Any deficiency in the amount of any such aggregate monthly payment shalt, unless made goad by the Mort- gagar poor to the due date of the nzst such payment eoostitute an event of default under this mortgage. 'fie Mortgagee may co4ect a "late chargz" not to exceed four cents (9;r) for each dollar (Sl) of each payment more than fifteen (1 ~) days in arras to cover thz extra exp+~nsr invoh•ed in handling delinquent pay mints. 3- That if the total of the payments made by the ~;origagor under [ ~' of paragraph Y preceding shalt exceed the amount of payments actually made 6v the )iortgagee for eround rents, taxes and assessments or insurance pre- miums, as the case may be, such excess, if the loan is current, at the option oI the Aiongagor, shall be credited by the Siortgagee on subsequent payments to be made bs the itortgagor, ar refunded to the Mortgagor. lf, however, the monthly payments trcade by the !vlorcgagor under rbJ of paragraph ?preceding shall not be sufficient to pay ground rent, taxes and assessmonts or insutattce premiums, as the case may be. when the same shall bernme due and pay- aiyie. then fire tlortgagor shall pay io the liortgagee any amount necessan to make up the deficiency, on ar before the date when oayment of such ground rent=. taxes, assessments or insurance premiums shall he due. Tf at an: time the Mortgagor shall tender to the liortgagee, in accordance with the pro+isions of the note secured herebt, Putt payment of the entire indebtedness represented thereby, the )Iortgagee shall, in computing the amount of such indeistedness, credit to the accauni of the Mortgagor ;(( payments made under the procisiaxis of rat of paragraph 2 hereof which the liortgagee ha; not become obligated to pa}' ro the ~ecretarti of Housing and I~rban Development and ass balance remaining in the funds accumulated under the prod=ions off ^1 of paragraph :' hereof. [f there shat} tae a default under ant of the provisinne of thi.> mortgage resulting in a public =ale of the premises covered hereby, or if the ~Iongagee scquires the properly otherxise after default, the ~bngagec shall appl.. at the time of the noauneneement of ach proceeding=, or at the time the propertc is otherxise acquired, the balance then remain- ing in the funds accumulated under r'•i of paragraph '_' preceding, :i a credit against the amount trf prireipat then remaining unpaid under said note, sod shall propery adjust any payments xhirh ehaH have keen made under !a% of paragraph -~- -- Thai ihr Mongagor ui3; pay ground riots. taxis. assessmznn, aster rate.. and oihz. g;++trnmental or municipal charges. fitxs, or impositions, for which prvvision hex not biro made hrreinbeforr. and in default the: _of the Mortgagee ma} pay the same; and that tbe'sinngagav x ill prnmptiy dtii+zr [he orficiat receipts thertfor to the Mortgaeee. ?. The Martgagau will gay all tsars xhirh may be leyitd upon the Mortgagor's intrrzst in said real tstate and impro+r- mznis. acrd xhirh may be 3r+izd upon this mortgage or ihr drt•t secured hereby +hut Doty to the latent that such i~ mvt pro#rit+it- ed i*y tax and oni} to tIx extent chat such will not mal:r thts iaan usunuu=~. but e.uiuding any income tact. Mate or t=rdual. imposed on Mortgagee. and will fife the otF.cia1 receipt shox ing cu..:`1 payment u ith the Mortgagrz. l'pon violation of this under- taking. or if the Slortgagc+r is pr~,hibited Ft and :au na,u .~r t;rreaftrr rxistin¢ irom p=ding tht xholr ++r an} purtian a+f [hr afore- said taus. or upt.n the rendering of soy coup dtcrrr er;+mhtnng the nay mrm by [hz }fottgagor or any such tsars, or if ,uch law or decrze prc+ides that ary amount so pard by the xior?c'agur .hal': hr crr;inzd on the mnrieagr debt, the Mortgagee .hall ha+e rite right to eiye ninety day s~ xrittrn nonce its the ,~u nrr .: ihr m,~ncaged rrrmi~z.. requiring the payment .+t the m.+rig:agr debt. if etz<it nniicr be a+rn. the said doh:.trafi hr.t~mr dur~ , ay at+ir and .a~;lrctihle at the ttplrau.+n of said ninety d.,s s 6. 71st should he fail to pay am sum or Corp- an} : o~.e:+ant pry++rdrd fsr in this Mar gage, then ttx MaKtgagtr. et its op- tizut. may pay or perfa~rm the samt. and a;i exp rndnurt~ s~* made sha€! t+e added to tfie principal cum owing on [hr above na+ie. sha3l+r srcurzd htrrhv ..-:.+si shall hear inirrr~t ::t tip rate ,ct fs+rth {n ihr ssi;i note. until paid. -. That ire hereby assrgnc, tr:,nsfrrs :ana: ~ti~ .•.c i, the ''<#,~rtgcger. to tx applied [ou and thz payment of the n<?te and alt soots stcurtd i-,ere4v in c >_ -_ .. ,.: _ - e per`..,--....pct . < .,-~y ., the trrm~ a- cor,diti~tns of rh i> Mrrtgagr or tiro said rroie, all the rents. revenues ant ir; ~mr~{r~!u+drrrv rd f r,~~ the m,.-tg;.eed prtm:ses during soh timt a> the mortgase indehted- tizss shalt reatain unpaid: and the ;iorigagzt .h<i; tic; r : i~a cr t., appoint arty agent or agtnt: it may dtsirr :`ot the purpose of rtpairing said prrmixs and of renting i!5C .sore ana cc':4rcnrrg the rents. revenues and ircomt, and it may pay out of said in- romes a{t expense. of rtpainng said prsr3ise, atw" necr~san commissions and txpenses incurred ir, rrnnng and managing the same aad of c.~Ikctirtg rentals tirertftom: the tmi.ancr re-awning. if say. to he app?ird taxard the dis.:iarge of said tnorigage indtbtedxs=_. 8. 7bai lee xi17 keep the improvements now raisung or hereafter erecttd on the mongagrd proprrn, insured as ma} be rega-ired #rc+in timt m time by the Mortgagor agarnsi ions by nrr and other hazards. casualtizs and rommgenctes in such attt,3tntt5and for such pcrtatis as may be required i+y the Morrgaget and uilf pay promptly. xiren due. ant prtm[ums nn such iasaraaee provision for payment of which has riot been made hrreinbefore. Al! insurance shall be ::arntd in companies ap- psv3cd try tbe Morte and the potieizs aisd rrnewa:s tf~eof shah bz hzld by the Mong-alter and ha; r attar hrd ihzreto Ices; payable tlatrses in favsu of and in #orm acceptab3z tc the Mortgagee- In es znt of loss iortgagor u ill gist immtdiatt noticz by matt to the Mortgagx. who may make pr+rof of loss if not malt prnmpti} try Mortgagor, and each insuranx avmpany con- ttrned is hereby authtuiztd and directed to make paymer:i for such loss directly to the Mortgagee instead of to thz Mortgagor and the Mortgagee jointly. and the insurrxz proceeds. ur an. part thereof. may be applied by tht Mortgagee at its option either to the reduction of the indthtedness hereby se~urtd a+r to the restoration or rtpair of the proptrty damaged. In tvtnt of forecio- sutrtsf this int+rtg~or other transftr of tifie to the mortgaged property in eatinguishmznt of the indebtedness secured hereby. ail right, tick and interest of the Mortgagor in and ro any' insurance policies then in force shah pass to the nurcbaser nr grantee. 4. That as additianai and collatzral security for [hr payment of the notz drscrik?ed. and al'. ,ums to i+e.,+mt due under this nwrtgase. the Marfgegor hereby assigns to the Mongagee all profits, revenues. royaioes. righu aad bznzfin accruing [o the Mortgagor under any end all oil and Kay ttast:s nn said premists. with the right to rzceive and receipt for the same and apply ahem to said indebtedness as writ before as after defauti in the conditions o1 this morgage. and the yiartgagez mar demand. sue for and recover any such payments when due and payable, but shz;! no[ ix rrquirzd cap to do. This assignment is to terminate and became Hutt and void upon release of this mortgage. F~aa ztaaM rte ~~;