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,~~®-~ ~ ~i (I) tnnatiPr prier tt'r Etw due datz tlae annual rncertg,age msursrtfc premium ht <+rdar to prrtvi fo c,t+c}r hi„t3drr
<br />..~.e4,+ wdth thuds to psu~y sucEt przmium 2sa tttc Sz~~crr2a;y~ rtf Housi~n~ and 1Srban Dewslcvpnrent pnesu;~~tnr ~Cr~t 13th
<br />Natic:tnal E lousing Ac:,, as arnertded, aznd appticabSe 12egulatirtn; them=under; ur
<br />(}}} 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 monthly charge (rn lieu oja nrnrtgage inszrarrce premiwn.% which shall he in an
<br />mnount egttsl to one-twelfth (t(r2) of one-hall' (] f2) per centum of the average outstanding balance
<br />due on the rots computed without taking into account delinquencies or prepaytnents;
<br />(b) A sum equal tq the ground rents, if any, next due, plus the premiums that will next become due and pa}•ablr on
<br />policies of fire and other h;uard insurance cvvering tht mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property /aN as estimated br rite ,'N%ngageel less all sums ahead}' paid therefor divided by the
<br />number of months to elapse hetixe one moridt poor to rite date when such ground rents, premiums. trues and
<br />assessments will hrcon,r delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums. taxes and special assessments; and
<br />(c) All payments nttntivnetl in tht two precedinc subsections of this paragraph and ail payments to be made antler
<br />the note secured hereby shall be added tueethtr, anti the aggregate amount thereol'shall he paid by the hlurtgagor
<br />each month in a single pacment to be spplied by the Mortgagee to [ht following items m !rte order set forth
<br />(I) premiwn charges under the contract of insu;anrt with the Secretary of housing and Urban Devttoprnant.
<br />or monthly charge /ire Irete uj r;nviyage irasurancr prerniun:J, as the case may be;
<br />(111 ground rents, taxes. assessnt:nts, fire and other har_ard insurance premiums;
<br />(111) interest on the note secured hereby . and
<br />{IV'1 auturtization rn the pnncipai of satd note.
<br />•~ny dei7cienry in the amount tit any such aggregate monthly payment shall. unless made good by the Mhrt~
<br />gugur prior to dte due dart of ttte nc,t sueit pa}ntr~,t. a~~+stitute an error of default under this mortgage. Tl,e
<br />Mortgagee may culled a "late charge" not to rxcted hxu cents (dtt) for each dollar 151 ! of each payment meet:
<br />than fittrtn (1 })days in arras u+ route the rand .•<;+en,r mvuivtd in handhng drhrr{cent payments.
<br />:3. That iC the total of the payments made by the Mortgagor under rn, of par;rLrxph f. preceding shall exceed
<br />the amount of payments aetuahr, made to the Mortgagee for ~mmnd n>nt~, taxes and ate.-es.tment.~ or insurance pre-
<br />mium., as rho case may' be, such exct ss, if the loan i4 current, ,lt the option of dtc tlortgagur, shall rte credited by
<br />i;~ - -- - -°fur t . .h~ v lr r.
<br />ifir-• tlnri~J~:, f`t` lie ~iib:^!'yiti>nt pat'mi•ni~ itF ill` matt' ,ia „u ;i ~,ir. :i, ii~~i. c. ,. c' i:rir'ar5:r t~-.i:.".?~~f?r, ta.€
<br />^nvnthly payment' made by the Mortgagor under : j~~ of paragraph _' preceding shall Hat be sufficient to pav ground
<br />rent, taxes and as:;essments or insurance premium:. as the cy~e ma} be, when the came .hall become due :and pa}~-
<br />abic~. then the Mortgagor shalt pa}' to the t{nrtwitgee any .[mount nvevs~::lrv tU m.tke up the defieiene}, on or befnrc>
<br />the date when payment of such gnlund rents, tare-. as,essment~ or insurance pet*miumr -hall bf• due. If at an}
<br />rime the 1lvrtgagtlr shall lender to the \lortgagee, in accord:tnei> with the provisiua~ rsf the Hutt .ecured heri•b}.
<br />troll payment of tht> entinr indebtedneas represented ihemby, the tktngagee ,}earl. in computing the :unount of such
<br />indehtedness, credit to the account of the tdortgagvr all paements made und€~r the lxovtsions of ; ~,: of paragr.•lph
<br />hereof which the Mortgagee has not become obti,atcd to pas- w the '~t•cret.trt of llnu~ing and i ~rbxn Deveoopment
<br />and any balance remaining in the fund= act•umutater{ undt>r the prof i-inn- of ~, '~: of paragraph 2 hereof. IF there
<br />shall he a default under attt' of the prttvisions of [hie. mortg:tre n>-ultins; in a public ;ale of the premieres covered
<br />hereby, or if tkre Mortg.~ee acquires the property at.herwise after default. the 1hlnkagee .,hall apply, at the time of
<br />th€+ commencement of such prncceding_s. yr a[ rhr time the propern is ntherwi=e aciluired, the balance tht•n remain-
<br />ing in the fmlds accumulated under ~ f.; of paragraph '2 pn•cedin;t. as a credit ue!wnst the amount vF principal then
<br />remaining unpaid antler -aid note, and .vital! pnlperly stdju=t any pacmt>nt? which sh:tii ha,~e bt•en mode 'antler %~,=
<br />of paragraph :>.
<br />4. 'T'hat the Mtlrt}tagor [fill pa4 gn,und rents. razes. assessment,. hater rues.:md tatter Evtrnnlental i+r municipal
<br />s~.h:trei_.. ones, ~.r •r tpf sition+, for tvht-nor svisturt ??:ts net! been ntadi h rrr:ehtt.tre.:tnd in drfautt. thtrtof the tiortga}trt :ua}'
<br />pay th santt: anti tha€ rhr tic-rt~ag.,r will pnmtptl4~ eteht~tr rhr +?fli4citreceipts the riex tv the tlortgagee.
<br />= ~ ~,. Si .; a~.:~i' _ - hE e:-:L':i L'pt,G ...C t1 V. :,..C C', _. .. .e.Ed [ ~.. ..~ :..pT:'k:..
<br />.c. .~„ .aC,., h,
<br />ewents.4ud tt }vch m:et br !c•ttru' aeon this mertkaee ur the debt strtu'td htrrb_4 [hut ,xdt• m the ez[rnt that su. h is no[ pcohihit-
<br />i0d fit r:ttc and Dolt rt, the cCi2nt than snc`ti ur!i nut make ,his toern t snrittust, httt ezelri~ng ast- in.`e~n;z ta,, ~tnt; or ~tdtrai.
<br />impanel stn tlnrr r~~,re „n1 54-fir rile the .,Iris i:ri rY4tip[ show-rag sash pa4 mint w Itit r[iC tler[g.,grt t. ~ ,t. t: i i8 nor , t rhS tmeit'r-
<br />taking, or if rhr Murteugw is prohibited hr unr !:rte now ur htreuf[tr rusting from pat ing rhr u he,lr t,rm} {xtrtiun of the aforr-
<br />s'sid fates. nr apon the remlc:rnu of anc court tieertr laruhibuing rhr pacment by the Mortgagor or ,tot .etch ntzes, or if Bach rate
<br />or deerte pat+ides that :utc amoum •'o Paul h} tht• tlvrtgagt+r ,hall he credited tin rhr mortgage debt. the 4ieutgagrt shat! ha+e
<br />the right to girt ninety da>,' ttritten notice t:+ rhr ,,caner of [fie mortgaged premise,. rrgtririna the patrnen[ „f the mortgage
<br />Debt. If sorb notice t,e ticen. rhr said debt shalt hecomt due_ prey able and collectible at iht ezptr;rr[u^ of .atd ttinttt day :.
<br />h. "That ,htxtid ht fall 0.t p;tq art} sum ur keep :etc rueea~mt provided for m dux Mortgage. dten the tlortt:us;rr, at ns ttp-
<br />tivn, may pay yr perform the :ame. amt :t!1 tzprntiitnrcs ;+, mode ,bolt hr added tt+ rhr• principu[ su:u ,+w mg,»t the :there nvtr,
<br />,hall t>t secured hrrrhv, and ~h:dl he;er intertu at the cur ,et furttt to the ,mci note. octal pafd.
<br />iltit ht herehv assign,. n'ansters and ,ets utrr n, the tlartgacre. to hr applied rouard the payment ,d rtta• ~t,n+• ,utd ail
<br />~,.ums x:urcd hrrehf in case aF :: defs:u?t in !!;r ; ^rtttrm ncc ttf ny eft !hc !er!us .enbl C++ne}irt,,n. „( thi, tte,rign;;r + r rhr s ±id
<br />note. all the rents. revenues anti income to+hr dented from the ntartgugrd prenux, dunng .uch umr :n the +nongage utdrhtrd.
<br />Hess shall remain unpatd, sod rhr Murtgsree ,hall h:,tr p.rwrr n, appoint .tot agent ur agants it mot du,ta• for the purpose of
<br />rtpauring said pnmtses and oT reefing the same and col!tcting the rents. ref enut+ tmci mconte, and it Wray pa}- test err said tm
<br />comes alt expenses of repairing surd premise, and rteces-art cuntnussiero aitd rzprasts incurred itt xrrttmg anti managing flit
<br />same ;end tit avIlecung renU~ls therefrom; rhr halanet remaining, if any. to bc' attplied tow°ard the discharge tit said mortgage
<br />indehtedness.
<br />ri. That he will keep the impruvtmenn now existing or fiercaftrr erected im the ntvrtgugtd }+roprrty, insured :ts may hr
<br />i'tgitired hom ,rote to ame by the Martgagtt against lass he tin :utd other hazards. casualties sod cantingrncits in each
<br />amounts and for such periatis as may he required he the tfortg;tgcz and [vii! pay pet»nptly, a-her; der--, any premium, t°a such
<br />insurancw provision for paymtnt of which has not hero made htreinhefore. A!! insurance shall hr ccurietl in aimpanirs ap-
<br />proved 6}'the htoetgagze and the policies and rrnrwats thereat shall hr field b} the Mortgagee sod hst-r situ. ttrd ihenta ksns
<br />payable clauses in faeor of and in form acceptable to the t^.ortgugte. In rstnt of toss hlvrgagor a ill give immediate nonce b>
<br />mail tc the Mortgagee, who may make prtwf of loss if Hat made prvmptty hy~ Mortgagor, and each insurance rumpam a>n-
<br />cerned is herttly autMorired and directed to make payment for lush Iuss directly to the Mortgagee instead of to the Mortgagor
<br />and the hior[gagee,iaintly, and the insura+ cr prilceeds, or any part thereof, may fk applied by the Mortgagee at its option tither
<br />to the rtductiun of the indebtedness htrehy secttrrd ur to tltt reswrativn nr repair' of the proper[} damaged. In event of Coreclo~
<br />sure of this mortgage or other transfer of title [o the mortgaged property ul extinguishment a[ the indebtedness secured beech}~.
<br />rtlt right, title:md interest of the Mortgagor in and to any insurance ~oliciee: then in fungi shalt pass tv the purchaser or grantee.
<br />~. "That as addhivnat and cttllareral security for the payment of the note dtscribtd. and sir stints n, heanne due under t}tu
<br />mortgage, the Mortgagee hereby assigns to the 4lortgagee afl profits, revenues, royalties, rights and benefits accruing to rhr
<br />Mortgagor under any and ufl viii and gas ]rusts an said prcmists. with rhr right to receive sod rtceipr fee [he same and spplc
<br />[firm ro said indehtedness as well hetvre as after default in the conditions of this mortgage. and the tlortgagee may demand. sue
<br />Cur and recover anv' such payments when dot anti payaitlt, but shall nut he required so to do. -:'his assignmem is to [crtnima[t
<br />and heatmt nu#} and vivid upon release of this mortgage.
<br />>H.4 2t43M Ito '. 71
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