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<br />79- 00~'i:i~9
<br />(1) month prio[ to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds ro pay such premium to the Secretary of Housing and Urban Development pursuant .o ihr
<br />National Housing Act, as amended, and applicable Regulations thereunder: or
<br />{if} tf and so long as said note of even date and this instrument are held by the Secretary of Housing and
<br />Urban Development. a atonttily charge /in lieu .;f a nrortvage insurmtce prerniutn/ which shalt ha in an
<br />amount egaaf io one-twelfth (i/12) of one-halt (1i1} per renuun of the average outstanding balance
<br />due on the note catnputed without taking in[o nreot;nt delinquencies nr prepayments:
<br />(b} A cunt equal tq trot ground rents, if ary; ^ext due, plus the premiums that will next become due and payable on
<br />policies of fire and aiher hazard insurance rovaring the mortgaged property, plus taxrs and assessments next Jae
<br />on the mortgaged property (all as estimated br the :11nr:garec•1 Icss alt sums already paid dirrefor dirided by the
<br />number of months to elapse before cite vnontt; »nor ?o the da?c when such ground rents. premiums, tarts and
<br />assessments wilt become delinquent such sums to he held by \iortgagce in trust to pa\~ said ,,round rents, pre-
<br />miums. taxes and special assessments; and
<br />(c} Ail payments ntentionrd in the two preceding subsections of this paragraph and all payments to he made under
<br />the Here secured hrrehy shat{ he added to,rihcr, and the ageregatr amount [hereof shall be pail h} the tiortgagor
<br />rac3t month in a siraz;e t•ay; :ent to he 2pp1i~ 1 by the Rlortgagrr to thz fal!owir,~_ items in itte order sa forth:
<br />{1) Premium charges under the contract of insuraaxe w-ith ihr Secretary of Housing and 1'rpan t_ktrlopntent,
<br />er monthly charge !irt lie7r q(mortgage insurance nremiunt), :rs the case. ma> hr;
<br />i If} ground rentA taxes, a~essmenis, firr and other hazard insuranrY premium;
<br />t Ifl) interrst to the Hair >rntrcd hrrehy: and
<br />(IV') atnutt~anon of the principal .,! said note.
<br />Art}- dcflricn.r ir. the amount , an. such au,reoate monthly na}'ment shall, unless ntsSr good b\ the !tiort-
<br />a_or prier to the due .:ate of the next such pacme•u. constitute an rent of Jrfauh under ilus morigsge. The
<br />9iortgagee mad' .i>Ilect a"'ate rhar,e" n: t to r.,ceed f:,i:r rents 1-i.) for each dollar f511 of each pa~~ment ntorc
<br />than }3firrn { i ~ t dad s ir. areas to .ot-rt the r<na : ~l•cn~r invnived ;n handling delinquent pat'mtnts.
<br />3 That ,f thn total of the risrmente m,ide ht~ the ~iorteaeor under .~,+") of paragraph _' ntrcedint_ chaff exceed
<br />the amount of paymertte actuala made be the \ionga•~ee fi)r ?rnund rents, taxes and asses-ment: or in.=urance pre-
<br />mium=. ate' the case may be. such excess, if the :taut is curcent, ac the op[ion o{ the \IortgaRor, shat! he credited h}
<br />the -jortt;agee on subsequent pac-menu to be made b~ the \lurt_izaor. or mfunded to [he \lurtgagor If, hnueter. the
<br />man:hl~ payments ma3e br the ~tgagor untfer r ~; of paragraph ?preceding shall not he sufficient to pa) gratnd
<br />tent, tati-ee slid ~sessments or in~irance premium-. ~ the ctt;<e mat be, tihen the same shall become due turd pa}-
<br />abie, ihett the lbrtgagar =halt pay an the 1bti2a_t*ce am amount necessan to make up the deficient,. on ar 6etore
<br />the date Hhet paatent of stu•h ~mund tents- taffies. asses=moms or in=urance premiums =hall be due. if at ary
<br />time the lbrtga>sor shad tender to the liorfaa_,,ce• in aceordsnce with the provisions of the note =ecured hereby,
<br />fitii pa}ment of the emire indebtedness represented iherebti , the 3loneagee shall. in camputin the amount of :such
<br />i,idebtedrtess. credit to the arcwtnt •,f the Uoriga3or all pivments made under the provisions of ,:: of paragraph _'
<br />heaetit nhirh ttte \brtgagee ha- not hetame ohli_atcd to pat to tht• rern•tan oI Hpuin, and urban petclopment
<br />tad any balance reataini;tp in the fund- arcumufated under the pmvi-ions of : ' of paragraph '? hereof. if there
<br />shaft be a default under and of the pn,ti-tan- of this ttmrtg;t;e re=viting in a public male of the premi>t• -covered
<br />hcvrbi. a if the tkrnra°i•e acquire- tha^ pntpea\ otlaentise after default, the \krnta,*ee ?hall applt. at the time 'rf
<br />tl:e eoms,enrement nt sucft procet-ding=, or at the time tl;a• property is athentist• :tcyuired. the balance then remsin-
<br />ini; in the fund-- aceumulatt'<f under ~. ~ of paragraph °_ prera~tfing. a~ a credit :r~:rin.-t the• _tmuurt of prSne~ipal then
<br />rtaAaini2 unpaid under =aid note. and shat? ~mpt•rlt sdiust an\ patment- ,nhirh -hsli hate been made and<+r;:.'
<br />of paragraph •?.
<br />-i. ,That ihr ilsnc-se,~r ai'3 psi cr.•und ants. tavc~. a.se.smrnts, utter r:,tes..;nJ .`tin; -_ rrn^trnt:i .. municipal
<br />_iGa; E-r,_ nnrn_ ,v imp-esttion:. for a hick E•r. tisian has not men :tale lxrrmhrfort, ad m drfauit t'.^.ere.: -rat,*igaete mat
<br />;x:t ;. ,amr: and that ihr 1',ort~,gc,r a i?+ ^ . ^;7rt;', del;trr tlir ath.iai ; rrr:pts r; rrrf,~r .. the tt,+rtgazrr
<br />i of Si,,ngnYL~r t.i;t ;+::~ ail ta2r., a~nni "Zat 'f>z ;rued upL~n ihr \t_,rtecEre + .nrurit ie ,:,td rr-s; e-i-dr snd ~mpr,•, r-
<br />z_,trr. . ar_ti, a hiclz .,.at t,e ie,xed u~:n ;hi, mi,rt2age or ine drht ;rcurr.i hearht teat one; [,• ;hr : t!rm <.hst ~.u:h t, not rrohit`it•
<br />ht sav _>?ti gait ro itc rvtn„ inai nth - .. . ,_ .1 ~,,, ., . ., ~ . ~.::,r , r i-~rdrt e',
<br />tt;lx srd .>r: ii<>r~:acet. -any il: nle ihr n?t;.rr. . artpt ..,..,.:n+_ , :- tr ,.-_, mrn. +.,h t:.r +i -r-; a.rr ~ , n , i.-'..,;,"n .:.ni, unJrr.
<br />:m.trg. ar if the "t4ar!gagi:r :s »rz,hipited h: 3n~ '.nu R, u~nr here-?ter rti.un_c?r.=r, ^ , rn. t:`:r r,.:. .~ .. _r., ~ .,i t,.:r<. .,i rhr ata.-r-
<br />aid ;avee..x u~•n ihr rtrderinp,,f end .our? dr.rtr ^r.`hthcurie thr , ~ ?nr \i.•r?>:s.•t :,~ .... ,,;,-h i,_tL`~. ,,r i* •uch!at,
<br />rK' dc:xrr n;ov;de, the...ne am:,um :.+psld h, tr,e iS~~rts.-:t::~r ,ha~- . a -=c~.t~c,: , , ,f. .. h, ,nr \1.+~ t~ ezc•t >h.r ; h , r
<br />tiro ^rtti to ate ninrt~ Jst t' tvtittrn ri•urr :~• the , u ntr .' ihr ° i~.:LC.? . ,,-r;,:, r t:-,:, , .hr ...,vt•:,.r
<br />.~rht.:feu.hnatn:rhe~t.n.thz>aid:7eht,ht'i*.c...n::dur~» ,:.ht...n.:_,,.~..,. .n~i ,i. _,. _ ~'~~:,ct,,!.:t,.
<br />tz. 7T.at s3tt=aid he f.,il tt, gwt ant .um L r kztn ~m ~. ~ ,...... rdra : ... tin, ti1,•r:c.,cr.:c.<n ,.~~ ',i,~ -- - -. n• .,p-
<br />^.tiua, nx;:, pat .er pe rit+rm L'xr ~a;r~e-and a,~ : vprndtturt, a mane ,h:a'i ht a,:.ir.i :, inc _h ..-.. t^. , ,u:n , ,e ` ~n-thus..;, r nL,tr.
<br />,,h:€?i br ,trz?-ed hrreht.:;nd >na:l t,esr init-ra at ihr satr , -orrh to !hr csi,t ntgr ~.:na; ^ ,,,
<br />- ?~'aa rrr herehw ay•[gm tran,irr ,r t, ,~trr t, ihr Si.`i .rr r , r`! ~-. .. rt:r r ..,,te .u . ,
<br />«. ~ 'ss':-ui~x~ ~YLI""S (,. i.i:_. .. ~.L 1:.' }~::lt,rtn.,n.c .. ~ ~ .c.-, ..., ..i .,'i: .. __ , - ..v
<br />~, wi thr ~: nt._ rot rr-ur, snd lnc, ,r .o hrradrm rJ #n,*:; tnc ma,ttr:~•,r~i", rrr-.:. ,i :r r i .. , .. .. „ L- ... :^or~tru-
<br />atrss ~h ~' rc~.stn unnaii., and ihr \ • .:e<rs.. ie:" ?ta,e n=urr t, ~, ,, i. ", .. -i.:.Er:'t ,,= tr, . --., r:.; :;r„rr ::~r ;hc ~u.n,:.,r , .
<br />,~+n:rxrgg }+te-mv:xe .,rki ,_? rentxne the eamr snd ,olk.t:t?e ihr :rot, . rrr':uC~ .......... .... :nu :. ..:, .x!t L,t .atJ tn-
<br />.a;.rr:,:e ~; r>•,trse,.: f tft'.=ir,ng ~;i;ti prem;.t>ei:,i nr.e Irv rE•mm:,,,on..:nd r t,rn.r ^rurrea :- ten+:r;k .:nd r-i::n~,gtng tht
<br />s;itrc .>atl ,,: ~a.;k.tsnc rettYes i ercfr: m: t;!r t4>i-once rema,nirtg, if an.. ta, f+t .:;gyp!;[d :. ~.:aru the „i..n:;rgc .,i ,.rid t::,:rteagr
<br />tr`>.~htrrutxe.«
<br />.- 7~ho_ ^.r s. sl! '.=t ihr +n*.prottmcnts n„w e:i,iing crc h;=rent rrr err~reu un rhr m:•rtg_,gc.i , r.,t,ert~s . u„urru :,, me•, hr
<br />reyuicd ?rL,n= time t.+ttmr h-~ ihr \lortc.rger ;g.:rn>t a .., ;n„ •:: ni.r ^. z;r~,..:,, u:rtt rr, :nd :=,rn;ngenrie, in •.u.. t:
<br />atntrunts acid fir ,u~:lt }renrkis a. n3G. ^e rey3rrtd h>,~ the \iongYgcr .: n.i ., J ,s pr:ern, ti, ..r tarn ;iur ;n~, : -r rnium, .,n ,urh
<br />msuratice , rc=t tsxn :rrr pat trcrrt c+f whith $rs, r,.,t tk•rn mecr flrrr:nhe t.;rc. .-\t! m,ur.,nre Arai! hr :.~r r+rd ~r: ,L,rn p.irtie, .tp-
<br />p~.rsed ht Ibe Sli•rt~tg,et ana the qu,?iat> snd xncuai•. thrtroi ,tr.ul he iirld b: thr \iL,ttgaErc ,nd h.,,c -:n'•,chr.i thrreta in„
<br />, ayef*ie ciauie+!n#attx a+f::nd in fc+rma.,:.rz•-sat:t t. ihr .i,•rte:.ger In runt ,",k •',i,~rtg.:.r+t Neil girr i:nn~rdi.ue n,,ti.e t*[
<br />m-aii tc t)k ~liari~a~e. abo ra} ?nakt pr,,.•f of ~.'•s of u.,t medr rtompu~ nt `,iortgag.~z .,nd c,..,~ en,ur.ins cornparn .on-
<br />ctt'md is fieereb} authtxireil and du>r~tea7 to ma{.e »_t rnent f.,r eu,'u „»s Jutcil} n, ihr \idrigmger tmtrad of tt+ the \i.,rteagor
<br />and the hiort~agce 3wnt;t.and the inwriracr t`r.r,ctd,. s,u~ part tnrreoi, m;n tx• app!trd h~ the vinrtgperr :;t it, option rnher
<br />hj the SCdttCiitan:dthe itidCbttdrteSe iirret`iee£lifed,-•t'Fct ihr rentt,railttn or rri!ali.,f ihr »n,prrlt ilsntact'J in,",enlr~ifr,rrr:L:-
<br />sure of this riwrtgage iir atfter uatt+frr.,i irlie tic tYtr m.•rtaagr.i ; ropertt ;n evtinta,t,hruct,? ,•f rhr ,nsehtr.inr,..rrmrd ht•rehti
<br />ail right, title andintere*a ,d the Afore g„yge,r in anti it ant tnruancr p.,fir:c, ihrn. rn tc.rrr ,t, ;N p.:,- i,: thr put. h;r,rr .n gr.,nta~
<br />9. That vs addnitrnai arni tnY7:atcral erL uru. for tMr g+s~ ntent ,•i the n,.tr Jr-, rihrtt_ car' _ -"atu- ~„ r=<,„u;r our tm„rr thi•
<br />tnorigage_.~ hf<yigeg:x herrh~ assigns to ihr tfttrteagtt a1; pr.,tiM~,. tc,rrwc~.:, ..,i,ir, ::pnr..:~,J hrarnr, .,..unn;; n, ihr
<br />!aottg~ar under ant and alt ott and f,as ''°a,rs or. mid nrem;,e. , 7~ ti:r ° ~ rc.r~ ,apt tnr ihr , ,,nr ,,{,u ,:ppi,
<br />ibentia yid indetsiednese rte nett t+efare a, after Jeiauit in the a,n.i. ,.,•~ .•'. - n - - rit;;: . ,! ri:r '=i<,rc.:err !~t.t•. ur;n, u.i, ,ur
<br />inr anJ rriirtrr eat curb pa; menaa whrn due .red pa}et,lr, but -t -: ~,i ^.. , cJ ~., , n~ ',: i±e:•: r. i„ •r: niin.:rc
<br />and heCOn,e nail and tt,id uix,n rrlease of ihr, mnngage.
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