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(1) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to the Secretary of Housing and [lrban Ih^veh?pmeni pursuant to the
<br />National Housing Act. as amended, and applicable Rrgtrtations thereunder, ur
<br />{II) If astd sa laag as said note of even date and this finsttumeiz[ ate held by the Secretary of Haushtg and
<br />fifian pevrlapmeni, a nranthiy charge %in Fleu ire a marrgagr insurmrce prenriu+nJ which shall be in an
<br />mount equal to oleo-Twelfth (l,i121 of one-half (t(.) per ccniwn of the average outstanding balance
<br />due on the note computed without iakin~ into account delinquencies or prepayments;
<br />{b) A sum equal tq the ground rents, if an}, nett „uc. plus the premiums that will nett become due anti payable on
<br />policies of fare snd other hazard insurance coveatng the mortgaged property, plus tares and assessments next due
<br />an The mortgaeed property 'all as csrbrrareJ br• the 1f,>rtFa;ec+ less all sums already paid therefor divided by the
<br />number of months to elapse Gefore one month prior to the da[c ashen such ground rents, premiums, taxes and
<br />assessments will became delinquent, such sums to be held 6y 1lortgagee in trust ter pay said ground rents, pre-
<br />msums. taxes and special assessinrnts; and
<br />fc} 471 payinrttzs ntenuarrd in the two precYding subsections of this paragraph and all pa}anents to be made under
<br />ihr nose srcttac-d hereb}' shall br added tt ,;ether, and the ag_z;ie;ate anrouni thereof shall br paid by the Mortgagor
<br />earls month ir. a single na}ment to br apnlird'•_,c lire Mortgagee to the following items in the order set forth:
<br />(1} pretrtiunv charges under the contract of insurance wnh *.he Srcrrtan' of Houstng and t.trban ik.velopmrnt,
<br />or monthly charge In lice r>fnt„rgagc trsurartcc F:remiunr, as tix~ case may he:
<br />flit enrttnd rents, taxes, assessments. tiro and other hazard insurance premiimts;
<br />i 1311 interest on tfie nou° secured 1xrrG} : std
<br />t11') at.turt~z:ttion of the princia ., sal # noi~°.
<br />An} dctl.irn;} in the arnrrunt . once such agercgatc monthh payment slrail, uitles; made Bead Gy ttte'sfbrt-
<br />€agos pricer to the doe w°tr of the rexi such ,v,m: a, criuuhite an eren; ,d default under this mortgage. Thr
<br />'dar._,;ag~° mac- collect a -'late chat~e"' n:,t ;cr rx:..,, -~ ,.. ,.nt> t-t;t? t:r:...cl: dollar (511 of each p.aytnrrt more
<br />thantifteanpi>1da}smarea`t. ;oye: the...-_rxlurs. Fna~,iyed.nhandlirg,irlinquentl?a}ntrnts.
<br />S. That if the total of the pa}tetrnis made b} the ck,rfmaear under ! ! n( paragraph :.r precrdin, shall exceed
<br />olio saloon[ of pa,}mrtrt-- actuai4} made b} the tih+nt:,ager for ~mund rrn:~, taxes and a~.,e:-inept., or insurattee pre-
<br />minms- a~ the ca a may Ge. 7zrh execsti, if :lte itzut is current. at nc~ opticsn of the ~kutgagor, shall be credited to
<br />t11r Olort~agrc• tai ,ub-eQurtit pa}mrnt- ta, to made G} the 11un};sgur, or mfundeti [o the llortza~ar. li, howryer, the
<br />rKxt#lzl} ps}menu made Ir} the itiortgagtx ;order r ^< of pazag-aph ' preceding shtli net lie sufficient to pay grtxtad
<br />trot. sales and a,~seesmcat-- ar in-atrsttrc~ premiam=, a` the ca=r ma}' Ge. wtit•n the same sttal3 beeome due snd pay-
<br />able. then the liersgagw sltslf pay to the \fatt~agee env amount necessan' to make up the deficiency-, en or before
<br />the date a}teat pa}vrrnt of ~urh ;mound rent.=, lace=, a.;.=essments or in=urance prnmiums shall be due. If ai am'
<br />time she'!k*n.:$~°!w Mall te~tler to the tfort~,agee, in acror,d3nce with the provisions of lire nine <erured heretic,
<br />fitil pasmtnt# of the entim indebtednrs, rapre=etited thrmG}, the 1longsgre strati, in computing the atnotmt of arch
<br />indebrz,^dttr~ss, credit to the acrtxtnt u} the '<fottgagrn all pa,rrients made under the provi~it,ns of r.:, of parag:atplt >
<br />hareaf xhirh th:• Mwt~re ha- ntrt ix•camr obligatc><i to ps} to the ~t•mtan of }loo..<in~ and t'rban pryciapment
<br />snd lint' faslaare remaining in the funds arcumnlated under the pmvitinns at r t. of para3raph P herrtrf- ff three
<br />:hail br a default under am of the pravi~ians of this rnirrt~age m=ultin, in s public -.tlr of the pmmi~e- cnvrred
<br />ltearby. ar if the 4lunyapxr aetpiims the pmpen}' ozhrrui~r after default, the lbrisagrr >}ralt apply, st the time of
<br />the rotnmencemrnt of atrh prucv+c•din_s, or at rite time the pn+pem is athensise ac•yuired, the balanee thee, mmain-
<br />iag in the fttnd~ arcutnul•atrd under ~ ' of narazraph :' p; et ~vling. as :t t-redit atiain~t the amount nF principal then
<br />reazaining unpaid larder =aid note, and .:.}tail pmperly ad~u~t an} pa}mrilt~ which =ha{l haae Gren made under +e'
<br />of parsgratpft
<br />-,. The=: the Sf~srtYx w;i± ~•a} itround rents. race,. as.cssmrntc, s.airr rate,. and other gt?,ernmrntal ar municipal
<br />.isartrs, fttx.s-err "=.mpositiom. far w}rich ,roaisian lies rta+, tsren made hrrrinhtfott-and in default zlarrec,f :h;r !itott_~ec ma}
<br />;.a} r34r sa.=.r, axsd xhst'..'ir'if€st-,_,-e3r r++;': rr.,^t,ti} drh,rr tl-~ .,1Fisi rrreip!s thrrrf„r to the \4ortgsgrt-
<br />-. The !tcrrt*,s alit s'ww a.. ~srs uhti;? tn•, i,r ie,ir,l u,,,r. t:tr yf,,tieager" intzrr:t m said real z;tatr and imptoye-
<br />mrn*.s. and w hirh mar t>; kairc: upon ties nr. it;~gr ,,r t'rr drF•; +eeured ftrrrt+} 4but only to the evirnt that such is ix,t ptahiGit-
<br />rd ba- 1aw end.r,:ty to the extent that such uill n.+i :na}.r t.`,i++tun usuriousi. liar rvcludin>z any income tsv, Starr ax Frdtraf,
<br />x~„=s;.d or, ~ ~;gt~;.~..an-;, u;}, Mi: t*A o~;:a? rt:r. : ct~x-~:n}:.:t~h p;;yn,t•n, ~;,h t?~ ~ftxitacer. L'~Ln,ic>}.ati~,!?~,r ahis utaier-
<br />trilieg, av if_hr 4fa3+ga , aiahstutrd h,.:.*i+ i..u snow .,r hrrc_firr eyt,tinx fr.,m pa}trig the >• hale tat an}*,a,rin,n of the afarr-
<br />satid razes- rx ufisxi The rrtkirrrrr of an.+ : curt dr: err psnhihtting the pay inept h} the M~.+r .t; ;grrr ar an} su.h laces, nr if such !au
<br />r 8r7et pr .,,ides i}uisnx am.,uni . ^-_r.i i^t the '.S,,nt:.=„r .hoil i,r ~rtdued an the m.=rigagr drt+i. the titartgagee siwil have
<br />Thr rtit to girt tiUrrta dos s Lnitrntni*u.^ tar ;hs ,+unrr .,f tht mt,ngaged p;rrtrst,- requiring the pace inept s,f the mnrtgagr
<br />dehi, If !,t:clt nt,tit:r fir ~,rn, T}ir said drt,z >'^~ali hrc:i:nr due. pa}ahlr end crrlir:tiislr at :Gr rv, isation c+f said nitre!} da} s.
<br />b, 'f'fsaT >,9ovid he fail t,, ir=e once w.^t or i.rrl+ an} . c:a~er, ar.i pma idcd :.u m title 11.,rigage. then the 4iangagee. at its .rp-
<br />a-n, tnaa pay ~v perftxm the *sn.°. and a31 r,.~pt!iianetr; .t, mxdt sha3! t,e added tr+ tht ;`risk s, ,;i :um .,wing t,n ttte at+ovr Harr.
<br />Mali tar sec>,trrd ixrtha -and a ail i~tr :-ierr.t .it the :err iri forth to the ,aid rr,*te. anti; ;?drd
<br />T br aatrri*= >>~ns. -.. f~•~, _nc; .rzs ,a rr ._. the ~l~,ngagrr. t , br ;,, pieru .,, ::+ the pa, Ire . i~f the not. and all
<br />stuns ,rxured Frrrrh} in c:asr .,f~agdrf,::..; to t}ir prrformancr of ar,} of the *.rrm>. arw :.,nditic,n> ~+f this \frxtgagc as the said
<br />m-rrr..dl the rents, rratnur-. artd inns.-r t., hr dine rd t;.,m lise rs,mei¢rd i+remi.e, >iunnE ;utls 2rntr as the m„rt•: gr mdehtrd-
<br />nes> s~.Ii train unpaid: s~ ;_1t: 1! xtg~grr .h~l' h sae p ,care to appoint aPy egznt to aeEni, ? ;r;es dr,rrr f.rr the purpose of
<br />rtpairirt~ cold prt;nisrs and of xrnnttg the tame snd ~a':lr;ring the rents- era-enue> and income. and tt may pax out of said in-
<br />~mts tsl3 ezprstsrs of *rpktring mid ttisrm:srs and nr~esss; } tommis,ian> grid txpznses rr:i-;trrr3 ir: srnung and managing rhr
<br />sxitnr arnt aef itdltrring rrMals rhrrrfram; the halancr rrmaixtirtg- if ar.y. to t+r appitrd toward the dixht+z-ge of said mortgage
<br />irufefxndnrsx.
<br />ti. TlirR fte will trop the imprrsvemtnts rsa+r. carting tx ltetrafter rrerted on the m,,s*.gagrci prtrprrTa -insured as ma} -tar
<br />rrquetrf frtatn rime to time !,s iix Irit+rtgagre aFasnst 7irssr}- ntr and .•=t#rrr ttaaard.. ca,:iai[irs _r•.i c,,ntn:grncirs in such
<br />s €:~ such ~tSc~'s as ra} -.'te- rxtt4:.cd #ey- t.'tr .`.•Itvie: era cs e,f s,a: p ra+-;Fos , u-hrg.;esr, uag prr^r.::ms cn au_h
<br />imwtsrrx pravisiaa far pavtxrnt ~ whic3t has rx+t Men made hrrrinbefort .A33 insurance shah i+r earned m companies ap-
<br />pre=vw s... t Sn.~i glut :~ t~,x.~.s ;;.,.. nrss„:is titter. f akin ~ helot t,a .~ 4f:-;-igagEe=rNa hoars_.acltrd tt~rr±o tos,
<br />pa}zeE:k ciausrs in favtx of ussd in ftyrsn a:trptahlr to the M,,ngagrr la esrnt of }oss Narigagor w iti gist immediate notice h}
<br />mad ate Hse f,Arinn,iFt~r_ ~~ha mat malt proof ai k+ss it slat mrdr pn+mpt3y by Mortgage+r, and ra ; insurance com,any con-
<br />t i5 rhtrt#+s attthrmil~ surd directed to male pay-mtai far such krss directly ro the Mortgagee instead of to the Mtrngagar
<br />and the is4txtgrrgre jtritrtfy, oral the irtsuratace prttteds, ar an} pan thereof, may ise applied by the Afongagee at its option zither
<br />to the redtts^xitm ~ Lhe ita9ebtetfness fsertir; taxs~[xf ~ to the rtstoratitm ar repair of the proprny damaged. In event of farecao-
<br />zurtu[#ltis essur~ ot}teaEe~of thie m the rrwrtgagrd properly in eztitrg}dshment of the indebtedness :;eeured hereby,
<br />;dl riglst. titx artd ittitxrest of the ~xin axed to any instuancr poii.irs then in force shai3 pass to thr purchaser ar gamer.
<br />4. That as adAatxxta! arced roliateral serttrity for the pa} rstent of the note desi:rilxd, and all sums to Mcamr due under this
<br />tnoriga~, the Ma¢rw ixrtby assigns to ;,hr ?vfartgaget aEi pra6zs. rrs enues- royalties. rights and benefits accruing to the
<br />ldartgagt9sr ~ anti all ail aced gas lease=d c ; seed premises. w n6 the right to receive and receipt far the same and appl}`
<br />thtm #a said itdtfstedness as weH befctrr as after defaufi in the canditians of this mortgage, and 11K bfangagre ma}demand- sue
<br />for arced.*ecavrr aaiy sisch pa}•menis wften due oral payat+lr, bi;2 shall net t>< rrauired so i{+ do. Thi, assignment is to terminate
<br />and Mcamr nui3 and void upon release of this tfiattgage.
<br />FHA-25daM f10 ~r1
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