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(I) month prior to its due date the snnu:d mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to the Secretary of Hausing and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder, or
<br />{II} If and so long as said note oC even date and this instrument are held by the Secretary of Housing and
<br />Urban perelopment, a monthly charge (ire lieu of a mortgage insevarrcc premium) which shall he in an
<br />amount equal to one-twelfth (1?l21 of one•half (1 j2) per centum of the average outstanding balance
<br />due rnt the note computed without taking into account delinquzncies ar prepayments;
<br />{h} A sum eyuai tg the ground rents, if any, next due, plus the premiums that will next become due and payable on
<br />policlrs of fin. and other hazard insurance csn'ering the mortgaged property, plus taxes and assessments nest due
<br />nn the mortgagzd property (aff as <-stirnarcrl ?+e Ike 3lortgaGceJ tens all sums already paid thesetor divided by the
<br />number of months to elapse before one month prior to the date arhen such ground ants, premiums-, taxes and
<br />+~ assessments will b<'comz drlfnyucnt, such stuns to be held by Mortgagee in rrwt to pay said ground rents, pre-
<br />mfutns, taties and special assessments; and
<br />-~ {c) A[I payanents mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the Wore secured hrtet+y s}ta11 br added tupRther, and the aggregate amount thereot strap he paid by the Mortgagor
<br />each month in a single payment to be applied by thz Mortgagee to the following itrrns in the order set forth:
<br />= il} premium charges under tfae .:ontract of insurance with the Secretary of H,,using and Ltrban Development,
<br />or monthly cha; gc (in lieu :3t rn+,n~gc insurance prentiunt;, as the case Wray b<':
<br />Q flll gx>und rent;, tears. assrssmrnu, fire and other hazard insurance premiums:
<br />tltl} interest on the note secured hereby; and
<br />{IV} amorirzation of the principal of said note.
<br />.fin}' deficiency in the amount of any such aggregate monthly psytnent shall, unless made Bawd by the Mbrt-
<br />gagar prior to the dui date of the nest such psa~met-a. xatstituu an eaem of driatilt under this mortgage. The
<br />MorYgattez may called a "sate charge" not to exceed i~x.r ernes i-tv} ft,r cacti dollar {yl) of each psymznt more
<br />than tiftrtn {1 ~l days in arias to wart the extra ,:apcn; tna„ivrd ;n handling Jelinyucnt pay ntrnts
<br />;. that if the tata3 of the psyment~ made by the Mortgagee under ,, ' of paragraph '_' prcceding ~hatl escend
<br />the amount of paymenta actuallt made by' the \hrrtgagee for mawnd mnt~, taae~ and a~~e--~menis ur insurance pre-
<br />miums. as the case maa be, such escc. s. if the 1<att iv curmnt, at the option of the Mortgagor, shall be credited ba•
<br />deo 3;nrtgiLaee on srtbseQttent }.ayment- to be made by the 1longar ar. or mfunded to the Mongugor- If, howea•er, the
<br />-rotethly paytntnis made bq the ll{tx••igagcar under + ; of paragroph '_ preceding shelf not be sufficirnt to pay' ground
<br />t~tL [.axes and as=es_~eents or inatrance premium=. a~ the ca: a may be. when the =ame shall become due and pay-
<br />able_ tleen tae'1lmtgag+or ~l[alI pay to the Mteriga.~ee any amaunt nece~~ary ttt make ap the defeiency, on or before
<br />the `rate when pav[nenr of s[tch ~mund rent=. tang=, ati~e~<ment~ ar in=urance premiums ~hsll be due. If at any
<br />tine the 66anraeor ~1aa31 lender to the ~Mrtgagr;ree, in a.<~otdance with the proof=ions of the note acqured hereby,
<br />full gaymeni of tlae entire indebiedne=~ repm~rnu-d themby, the l;ottgagee ;hail, in computing the amotmt of such
<br />Via, credit to the acrixtnt of :lit 41a+rt~gor all p.ivtttents merle under dre pn,cisiatts of c u ~ of paragraph
<br />hereof which the \inrt.gaeee 3ta~ not became ublit;sted to pay w the ~[*r•rtaan of Hnu~in, :end l rban lltaefopneent
<br />surd ana balance tentaining in the fund= accumulated under the prom=ions of - -! of paragraph ? 1tCretaf. If there
<br />Mall 6e a default utter any of the ptani-ian~ of ihi.- mart;;age resulting in a public ,aic of the promises covered
<br />hereby. or if dre iktrtgagoe scquim- the• property ntherwi.~e att.•r tlcfault. the llurtg,at;ec :hall apply, at the time ut
<br />flee commencement of satclt procnodin_=, ar at :h:• time the propt•rtt i, atherwi-e acquired, rho balance then remain-
<br />inr is the futals arr•.tmulatrd under of pst•a;:raplt ? proredin„ a- a credit wainst the amount of principal then
<br />t~saining unpaid under said note. red =hall prapeih adiu~t any payments which shall hang beYn made under tc1
<br />of pata~++raplt _"". -
<br />=- Tlnit the 'a9ongagor aiei pea ecwt~ rent.. taae~. a,4t+smttats. ~+atet rates. and renter gnrzrnmrntai or municipal
<br />~hargra_ ~rzzs. c><tmf,r:situins. fur ++hath pr.,arsrnr, has n.-[ been aadr hrrrinl+rfore, and in aefault thrrrr~i the itottgagtr mar'
<br />i;a? the samr::xnd that ihr Murt~igar w ill Prr?mpUy dehaer the ot'F.-r4xi receipts tluxrfaar so tlit• Afortgagrr.
<br />f. Thr'.!•rMeai'or gill Was :ell Urars uhi:h ma. i+r le=ird upon thr'41+xtgagte'a imerrst in said tell relate and imPraaz-
<br />;~nts. and wtt~f; ;reay lx'* t int ;:}t n ±ht. to =rzgac ~•r the ache ,r. uterf hrrtba ;i,ut .,nl~ to the rattnt [h:ti .uch is nut prahibit-
<br />rzl ha '..aw and .mla is3 ihr catrnt that such w ill nc-t rnai,r tfti, than uaunousr, r+ut ra::Iadang ana incomt tea, Starr or 3•tdtral,
<br />imtaoard ,m ydauigsger- and ~ ui tf}e the u$tcisl rrczspt flu;:a erg su.h pa> mrnt w uh the lfartgagre. 1'pan a iu!:ation i,f this undrr-
<br />*_aktttg, cu d the Ad.'Ktgagrx- r+ nr.+lrihited t+yany tuw rar,w or ttrreaftrr raestmc fr.*m p;+~ing the W h.lr ar anti }xtrth,n of the afore-
<br />said tat,rs- cu uPnn rhr rrndrnng itf an} ::nun dri~ree prohit+ittng [hr i'_:, menu ;+< the .V,rxtgaC x ,,ran} such tears, ur if such law
<br />:v.frtiret Provrdts tftat ten} anuunt x, paid t+~ the ',fongasarr ..h:tt1 i,<• , rrdutd on the naottgagr debt, the \fartcagre sire!! hate
<br />the ragfai to &tiar ninety day> tittattrn natter tr, the .+u net .+f the mortgngtd permeate. requiring the pas mrnt of the mortgage
<br />dtf+t. if .u;~ mxiee lx ~sen_ fftr said drt*t steal! br.ccine due, Pa> ai+lc and ;r+tircatok at the eapiruticm ref said nines days.
<br />rt. '1}txt ahwkl ht faa'1 to l+ay a~ai sam m keep any ec ame:^. unv pnu-adrd f,u m Vih Mcx'tgagr, then the \fartr gee. at its op-
<br />ix,a. -na+ pa3 iY pref. ern t~ ,ame. and ;<Il taptnaiturr, .o made ,fixil Ix added to 'te Pnncipal gum owing <xt the abave note,
<br />ssaar~ #ar' st.°iued hrrl+y .anti x.hsll hear interest at the rate .et forth jn inr .:co near. trntel puid-
<br />'_ TIL`$ lee lttreara as+igr:a, trancftn anti ,cis o<rs tr+tne \9artF-agt•r. to ne applard feu-ard the neynsent of the note and ail
<br />+uma x:urtd htreF? in ,"tear r,f a dt?auit in the Prrf.trman.r .,f as,s of the trrm+ and ~<>nilnia,n> <,f thi+ Mortg:tgz or the said
<br />tuts. all the rent>, rrarnut> and in<r,r^~r to l+e drriard from -nr mortgaged perm,+r+ dunng ,uch tome .+, the mangage irxlebted-
<br />~a shall tetnain unp~t~d: am: the V ilrtEt{grr Wheel ftaxr p.>wzr rR :<ppoint :~n} ::sent ,,r .,gent: +t meY dr+irr for the purpast of
<br />ripairirlg ;aid Prtmista alai ,~ rtnrang the same and cr,ikctmg ihr :ent+. rrr~rnur, anti inc.+mr. and it may pay out of said fn-
<br />ca>mes :ail eaPtnsts ~i ttpaurgg said premise. ;end r5ta.t ~ - ,.aammrs:+<?r.+ seed eaprnae,- .rRuntd m ttmmg and managing the
<br />>tatae and of rantle[~rixtg rentals ihtrtfntm; tbt f+alatece rrmaintttg. if env. to t+e spnlir, rr~warc the dta;;fiarge aaf aaid morgrge
<br />ittdttess.
<br />.~ 3. that lx wip e..rp rite improvcmtats Haw exi_:tsgg au Isrrraftn erected r+n star mottt;aged ptnprri) . insured ae may br
<br />:r.Quirrd frcmt lime ra time #re; the Matigal,+rr against lnss hs- tier and .+tr,<•r^t.:7nrds. ca+ualter+ anti .:;tnnngrnctra in such
<br />-r ss~+ta~ flee ±<axb Pcaitks at ttaa;° fx rtgaitt:d by the :afrarteaeer anat wail pea rxatnptla . u hen dur..:ny prrmttem, on such
<br />ixtsurateee praaisiwa fax payment ttf which hrss tux lxcn made hertinbrfcur #7 ,n,urunce +hail br .ward en cr+mp-ame. ,+P-
<br />' Ptan~ lay the Miarl~,oeget and tl~ pe+IScies and rrnraaals thtrraf 3h,-.11 hs held t+y tftr N<+ngagrr and has r stiachtd thrrrw loss
<br />PayatJt chases m farctt xd and in form aeitPtafsit t, fhz Mortgagee- !n caret arf 1<,>. M+,rtgagrr w it1 g,ac ,mmrdiate nonce by
<br />neat! m edge blmtgngct. who may raakt pravaf of }rns if nix made ptompdy f?y S/ortgagar. unit each ensue«ncr enmpany .on-
<br />ctrrtttl talZdrft+y tarttaviutl acrd dirtcitd tc make Pay mint fnr such krsa directly to tbt M1lungagec instead of to the Mortgagee
<br />intd the k#tart«gagre ftsnfly. and flat msuraoct ptttcrtds, or any Part thereof. mat fee appfied icy the AlongaFrr at ita option either
<br />tai the rzdactir~[e r~ ikt itadttatedntr:s het~f+y ateurcxf tm to rht rtstrration c«f rtpeit of the prupert y damaged. i n e r rnt of f xecio-
<br />. surx of t~eis tnta•ty~ytur other transfnrof title to the,nungagrd puprrty in eatfnguishment of the indthtrdnraa aecured hereh>,
<br />all tiplrt, trek and irettrtsY of the Montx in atuf to ant insurance Policies then in force eh:a!1 pa,a to the purchaacr or grintre
<br />~. 7'ltaf as addi[iotaal and colfatttal snurity for the pap:mrnt td the note descrit+ed, and all wm+ to t,rc.>me due under chi.
<br />tanrt~pt, k1pC ')° assigns to the Mongagte all proftfs, rrvtnue+, nryahies. right. and brneiii+ accruing to the
<br />Mortgagor under any atn[t all oil and gas feasts on said premises, w ith the nght to receive ,nd receipt for [lu +ame and apply
<br />tiDe+m it+ said indebtedtxsa ss welt before as after default in the t:undirirn+ of this ntong,+gr. ana the Mortgagee may demand, aue
<br />for nerd tYCaatt any sexclt Payaaents when Jut and Payable, but shalt not tx required ao to dn. Thi+:,asignme+ii i, to termtnatr
<br />attd!ttctatee Hall and vatd utxon rtleaseof thin mongttge.
<br />,in :teen+;w rri
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