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<br />7J- t)~'~f'~b
<br />t I l month prior to its due dale the annual mortgage insurance premium in order n, provide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Drvelopmont pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder. ur
<br />(It) if and so long as said note of even date and this instrument are held by ttte Secretary if housing and
<br />Urban IJevelopment, a monthly charge (fn lieu <[ja ntorfgage fr7srtrance premium/ which shall be in an
<br />amount equal to one-twelfth (1/12) of iris-halt ,tl~?) per centurn of the average outstanding balance
<br />due on the note computed without taking into account delinquencies it prepayments;
<br />(b) A sum eyual to tha ground rents, if any, next due. plus the premiums that will next becane due and payable on
<br />politics ul fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />in the mortgaged property (all as estimated bi~ rlu' :Yfurrguge<,I ;ess all sums already paid therefor divided by the
<br />panther of months to elapse befo« one nuxttit prior to the date irhen such ground renb, prrnuuntc, faces and
<br />assessments will beanue delinquent, such sums to br held by Mortgagee in u'ust to pay sold ground rents, prr-
<br />miunts, taxes and special assessments: and
<br />(c) All payments ntentionrd in the hvi preceding subsecUOns of thts paragraph and all payments to be made under
<br />the note secured hereby shall hr added togahrr. and the aggregate amount therein shall be pall by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the tlilluwing rtunu in the order set forth:
<br />(I) premium charges under the a+ntran of insurance it°ith the Secretary if Housing and Urban Ihvrlipment,
<br />it monthly charge tin lieu :r/m„rrgate• insurance premium), as the case stay itr;
<br />1111 gt,nnui tents, taxes. assessnlrnts. fire and other hx'rard insurance premiums;
<br />1111) unerrst ou the Wore secured hrtrhy; and
<br />(IVI anrorG~ation of the principal of said auto.
<br />Am dcfiuen; v in the amount of any such at;t;rc gate nnnnldy payntrnt shall unirss made good by the Mort-
<br />gagor poor li ihr Jac data tlf the next such p:n'ntrnt, cr.n5litute ;ut dent if drlault under this mortgage. the
<br />Mortgagee pray collect a "late charge" not to exceed tiu:r amts 14y1 I'or each dollar {$I 1 of each paynter,t more
<br />than fifteen (1 ~) days in areas to eueel the extra eq,ensr involved in handling delinquent p;p-marts.
<br />,.• r.'tta! if tt;e t.~t_tt ni tho payment? made by the \lurtttagnr under t?•% of paragrnph ! pr=ceding ,hall ?zceed
<br />the amount of payments aewsih matte by the Vorlkagec fm~ ernmtd rent,, face; and asst•a-merits nr in-urnnce per
<br />miums, as the c:t~o mac be, such excess, if the Juan is currant, at the option of dte Mortgagor, shall Fx credited be
<br />the ~IorthaKec an su`u~equent pa}~menis to be made by the Mort-gagor, ur reftmded ^r the Uon~xKor If, hoitetl=r, the
<br />monthly payment- made M the Mortgagor under +`~1 of paragraph 2 prtceding shall not he sufficient to pay' gnxutd
<br />rent, taxes and a--e~sment~ ur insurmce premiums. as the case map he, ehen the vtmc shall become dot' and pay-
<br />ahle- then [he 1lortnagor shall pap to [h? Mortgagee am amouru neces-stn to make up the d?[iciency, on or before
<br />the date when paymem of such gmund rent-, tact+~, assessments or insur:uu a promiums shall he due. IF at any
<br />time the Mortgagor shall tender to the Mortgage?. in aeeordance ++ith the pmyisiun~ n( ihr= pate -ecured herehp.
<br />(all payment of the t•ntin= ind?budn?-- r?prerentaaf [hrmhi, the 1lvrtgagee =hall, in computing, the umowtt of such
<br />imlebtc'<iness, credit to the account ii the Mortgagor .lit p,tvmrnts made under the pnnuu+ns of ..: ~ of paeagraph
<br />hcnroC whit•h the \lorteag?? ham not b?rome obligated w pad to the `? rmturi of Iluu-in„ .md l'rhan Dc•vebpment
<br />and ant' b:dance mmainine in the funds act umuluu•d under the prat i~ton~ of ; ~ : il• pxra;;raph '' hereof. if there
<br />-hall bead?fault under um of the pruii~ inn- of chi- mnrt~a~e rewt,ing In a public ~:de of [he premi~t=~ cuycr?d
<br />hereby. ur if the 1lnrtgagee acquires the propent uthenii-o abet default, th? Uungagee ..hat{ apply.:u the lira? of
<br />the commencement of much pruceeding~. ur at tho' timt• the pmpem i= uthenti-e acyvireti, the halanco then n•main-
<br />ing in the land- act~umulated undor ~',' nl paragraph pn=redtng, u- a credit ac:un-t dte amount of principal tht-n
<br />mmaining unpaid undor -paid pile. ;uul -hall pmpcriv adpl>t ant ilalnu•ttt- aihieh -hall haiv heea mad? under s.e'
<br />- ,.t,
<br />a. Ih:n the ;t,'r:c,s`,.,r i:iii _i„i er tt rr.;, k, ,a,:t;rrrt!+ ,::rs..:n.t :,thee l+ier+i:nent~! tr :[mttaylpttl
<br />~`1[af Cc'i., line',, Ur impc+5lih?n`, ttH tk htCf} n!'^iI`!„O t:. .k t ht't_ na4r Ik't S.Pi, lire-:Intl In Jefaui[ itlef re,l itie ~ftiF(t„cgrr trial
<br />- c the =` t - ' `le -t ' rttn ,^,`.=rat °I: drlt'ra she tl - t :a_ _ ttta•!t t„r L, tht• Alurt~.,~!ee-
<br />. l h 'i k:,rtg i6or is ill pet' ., 11 t,:nee ai hiih m.:i hr leik•d ut.,at the'M +rtga~c•r~~ nrterr,t ut :uJ rr:,t r,t.ur oral impnnc-
<br />rurm.. ;etJ i;hich mar hr- It=:icd upur, t^t: ;tltstk:tec ar tftr Jct,t <_.used hrtt•I-i That r,nhk to the eytenr that :uEh i, not pionii,it-
<br />rd M tae afar Holt to the rstent that ,ugh •et11 not maV.t this loan uvuuxt,i, but ryrludmg ,mi ntrnntr rri. titatt• or Frder.J.
<br />imposed un Murtgugrr, and ti dl file the othcial tc:crpt ,hilt mg.ui h pad merit 0 nh the \tortgugee Cpon : u+kttiun of thi+ under-
<br />taking. or if the 14ortgagnr I. rytrhihitrd hi uni i:fU noi+ or h,.veeftei rit,tutg ir,uu p.,ung the :abort „r.uti p,uuon.+f thr,di,rr
<br />s;dd Ctces. ur upon Ihr rendering it any .Dori .ire rc•e e:++hthuntg [he pet merit hi !hr V,+rtg.lgor at .aft ,uCh tayr,, or d sorb taN
<br />.±r,ierrcu provdea that nn} :nnount ,o paid 1's the \t,+ngag+,r ,hall re .n•Jllyd on Ihr m,ntgagr dt•M. the Mottg.tper ,hell have
<br />the right to grit ninon ,lay,• it nttrn pouts t„ the a•s net ,~t the mrrteaceJ etruu,r,. rcqun mg the P•+i merit if Ihr mortgage
<br />debt. If iu.h potter hr .rich. the ,:ud airht ,h:,!I he=,ane Jae. , et ehdr •; n,i c,•1!rr nblr .;t the r tpu:,utal ,•i ,.;Id nincfy dry,.
<br />(,- That +h.,u1J he foil to pay .Ini ,um ,n keep .un .-o•.'•I+.m'- pr„tvdrai f„r m Uu, `d.,rtit;.Et. then the ltortgaµre. et rt+ a,p_
<br />Iinn. nr,It Pat t,r perform the „unr, and,nl csprnahhur=. •,, made ,hall he .,dJal it= She pt male.:; ,etnv o,i Iru,at the choir Hole.
<br />sh;dl he• securrJ hrrrhi, and ,hall t.e.u unrte.l .,t the r.tic'rt forth m the ~.ud note unnl r+aiJ
<br />_r hat he hr rl'hi alalgb,. Ifdn,f rt, anJ +c't, „ae'I h, Ihr M„I'Ig.rgct'. t,= he .I{+ple'J 1/ia .n+f ;hc' eat nh'nf of Ihr na9c• and aI!
<br />writs sr:urrd hcreM m co,r of e Jct:udt ut the Pcrfnnnautr ,~f one ,.I !iIr trnn+ and aonamom .,f Ihr At,ntgagr or thr,wJ
<br />cote-;dl Ihr teat-, re,rwlr, anJ Ira.,nu• 1,, hr Ja•t!icJ flora the me+ngatcd ptrnu,c,.tlillla ,r, h sour ,n the nt.'rtgagr nulc•hlyd-
<br />nr„ nha11 rrnrnn unp.uJ, :out tlx: M„rrgugre .h.,l=. bete }t,•itct ti, app.nnt ant ,,gent or agnn+ It mat i1r•tIe tot Ihr ptopasc nl
<br />rcpuiriag +atd proem-,cs .,rid of rcnung the ,amt .Dui n,lle: ring the rem.. rri spur, -utJ Ins,,nu' and tt ::,.., p.li out of ,aid in-
<br />rumes all rtprns.a of rep;,rrmg +oui prenu,r= .md nryrs.an canuntsstons :mtl ryprnsrs utiw`rrJ m rent!ns; anti managtrtg, the
<br />same antl of cidlrtung rcntui+ thrrcfrum. the halnncr temauung. d :m5 ti t+r ,cpphrx: toa:ud the dis: h.:I Ur nl ,:uJ nutttg:rgr
<br />irtdehtednet+
<br />$- that he udl keep the unpn=cement. nt, it cyrslma; or hcre,dtrt etrtfrd on chi ntoit}!aged plops=rri ir;=u: ref -t. tn=ty he
<br />rrgttirrd flint tGnr to utnr by tnc 3jortgaget• ag:uust i , ht lire acrd r,fher ha: ard,, c.i,mdu.- .;rid :. •.. .. :n .,,ch
<br />amounts mul fur web pennd-, :u plop hr teyutrrJ by the Morig;tgecr :uui ti tll pet ptnmptiy, ,a ttrn due, out piruu„w, ,nt wth
<br />insurtncr protision foe patmrttt of which has not i~rn made hrrrinbefurr..~lt lrwutancr +befl tx~ aa~t:cal na .'amparic+ ap
<br />proved by the ~tortgager anJ the potietra :md trnrua6 thereof shall he held hi the Mortgatice ;,rid h,rir attached thcrrti h,..
<br />payable chtusrs in faior of and inform ecrrptahle to the Murtgngrr. ht rienl of loss Mortv,rgm arll grit tthnrrdt.,tr nohcr hi
<br />mail to Ihr Mortgagee, a-ho tray make proof of tos< if rim made promptly- by Mortgages and ra: b utsrerur.r a<,rnpany t'.=tt-
<br />cented is hereby authurired and directed m make payment tnr such t,+aa dtrertll ttr the ~+, ortgugcc tmirad nt to the iinngagor
<br />and the Mortgagee Jointh ,and Ihr imuranrr proceeds, or urn {+art thereof, milt' itr:gq+hrJ by the Murtg:,}:cr at m opnan rdhrr
<br />to the reduction of the inilehtrdnrss hereby srtureJ ur to the revuruiun nr repair of the propcrn d;unagrd hr ri rnr of fireth,
<br />surf itf this morlg:tge ur other trans[eruf title to the mortgaged props rri ut at;ingutshtneni of the indrbtrdnes. ,rowed hereto .
<br />all right, title and interest of the Mortgagor in and to any insuraorr policic•, then in lurae ah:,ll pa„ t„ the part baser of Manta,'
<br />9. That as a.idition:d and cailatrrd security for tF.r pavnen[ of the note desinhrJ, and : t! +mn, to hrcimr liar undor th;-,
<br />ttwrtgage, tits Mortgagor hereF=y aesigns ta, the Mirt~;airr !! profit.. r_lem!it. roy':i':tirs. tight. aria benefit. utcrutng to the
<br />MorEgagor under anti and :;II ail anet gas le::.es on said p.*c'mises, i+ith the right ti ret'crtr and n_c+:ipt f.,!' the +amc utd apple
<br />them to said indebtedness as well C_tore as after default in the conditiom of chi: mortgage, and the Mortgagee mat dem:uxl.,ur
<br />for and rccoter any such payments when due and payat+ie. but shall net hr reuwred so to Jo -Ih.+ aasignment n m rerrnrnate
<br />and hcaane null <md void upon rcleau of this mortgage.
<br />F„4 1a3M 110 7]1
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