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<br />{ 1) month prior to is 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 Urban 1?evelnpment pursuant to the
<br />Natimtal Housing Act, as amended, and applicable Regtilatinn~ thereunder; or
<br />{II) {f and so long as said note of even date and [his instrument arc held by the Secretary of Housing and
<br />Urban Development, a monthly charge (iu lieu oja mortgage itist;rauce prettthun/ which shall be in an
<br />amount equal to one-twrllth (1/11 of ane-half {1/21 per centum of the average outstanding balance
<br />due nn the note computed without ; ,trine iota account delinquencies or prepayments;
<br />(b1 A sum equal to the ground rents, ii any, next due, plus the premiums that will nest become due and payable on
<br />policies of fire and other hazard insurance an'ering the mortgaged properh', plus taxes and assessments next due
<br />an the mortgaged property (aft as estin:atec? hi' tine tfortgageei less all sums already paid therefor divided by the
<br />number of tuoaths to elapse before ore nx:nth prior to the date »hrn such ground rents, prztniums. taxes and
<br />assessments will brtomr delirqucn[, such stuns 0., he held by l1ortgagee in oust to pas said ground rents, pre-
<br />trtiums, rates and sozcial as~ssinenis: and
<br />{c1 All pay~nicnis nieniionrd ;^ the too preceding subsrctiorts of flits paragraph and all payments to be made under
<br />the no:e secwed herehv sha31 he added toeether, and the a`t;regate amount thereof shall be paid by the ltorigagnr
<br />- race month m a cantle psymrrt to be applied by- the 'vtongagee to the failuwme items m the vrfrr set forth:
<br />Q ill prrmitz;tt charges under the cantrar, otinsu;anre with the Secrrtaq~ .>f Heusine and l'ritau Ikvelopment,
<br />car manthtc charge (;n ii<'•t „j n_,rrg¢Qe ius:;rsrrce ^rx?tii_tnt1, as the case nta}~ bc:
<br />tttl Ground :rots. taxes, asse;sinrnts.:irc and ,=flier hazard insurance ~rentiums;
<br />{1111 interest ar, the cote ~aured hrrrbv; and
<br />(1\`; atnonitativn of rue p.rincipa: t>f aid note.
<br />.nay deiinrn.:y in the smoum of art. suth aceregate monthh• payment shall. unless made good by- the hton-
<br />;a,or pose to the due date ~f the ne.r such pat~tnc~a. c,:nst;tore art Brent of defaah under ittis morsgaee. the
<br />149engager may cculect a "late charge` rot ,:, rx.:eru t:,ur cams ;~a3 for eaeh di liar {S t) o! each payntant mote
<br />man iiftaen { 1> l days in arras to co:-ar the extra rx;u•rtic invoh-rd in handling drlinqucnt pa} mints.
<br />_. xn t if Wit" total of xne pav~rienx~ msde by me i'trxrt~a~txr unfit+r ,• ` + of para.;rapit ' pmceiin** <hall exceed
<br />the amount of paym~att,~ actually made b} the \k+rc_axer for ~nxund rents, tnxt=~ and ,t;e:~ment:, ar in=ur•.ince pre-
<br />miums. a.:' the rase mas~ be, wt-h esc..s. if the ltxtn i current, at $te op[itm of the Flwtgagur. shall be credited be
<br />the \Surt$asee nn .=ub_->quent patment< [u ~ made h} thx~ llort,n~rrr.:,r refunded [a, the \lurtT;agar_ If, however, the
<br />^it+rtthly pa?menu trc~ by' the ~rrgagur under . ; of paragraph 'preceding shall nut he sufficient to }*av gtwnd
<br />trot, taxes roll a:se`menis or inviranre premium-, s the c.is:~ ma} be. »hen the game Thai! become due. and pa?-
<br />able. then the `dCrrtfla~~txr :hai3 pay to she 4kxnr-a_t>e am amount neres~an to make up the deficiency, on or before
<br />the date when paltment of =txh ~tnutxd [rni~, tare-, a: sessments nr insutanee pmmiums shall be due. If a[ am
<br />time the i3ottga,+~or -?tall tender to the \1on2a„°t=r, :n :trenrd:u:re with tfie ptovi~inn~ of the note ~rrured hereb},
<br />full paymritt of the entim indeittrdne== repmsented therebt, tl:e \inttgae,re .,hall. in computing the mm~un[ of Mich
<br />u:dehtrs~ess. wit to fire as t~itnr of the ?=i viggor ail ;a.te meats matte under the pmrt.:i xis of ._, of paragraph ,
<br />hearnf wfiirlt the \brt;>a,ee hs~ trot became atxlit*a[ed ta, pat to the ~ern=tan et dousing snd t rban D,rvel:~xtreat
<br />%rad ans bilaate semainirt„ in rite funds arc°umulstrd under rite pms i=inns n(r ~ .~ of pnri~*raph ? hereof. if there
<br />shall ~ a default :taller any of the pro,.isians of thi- tzrortea;e re=ultin=z rn s public gale of fire premises troven~d
<br />!tees by, or if the \inn~sre acgttitrs the pnxpeny axther»ise after default, the \kxn~*agee -hall apply. :it the time of
<br />the rammrnt-ernent of ,itch pmreeding-, nr at rite time ihe• pmpe,-ty is other»ise acquirnd, the baiaitre then remnin-
<br />t~_ in the #uttds areumulaia>d under .' of par-a>?ranh ' prrctYlinQ, a~ a credit a=:ainst the amount tyf principal then
<br />rPmainin_ unpaid tuzd+>r said nine. and shall pmprrly :xdtu~. anx payment- ,+hirfi :hall hare 6ex~ti rtade under f,:'
<br />ctf paraeraph ~.
<br />That ihr itnn:agorLLZii pay groun.€ :eats. rage,. >s>z s.mrnt;. canter rate;. :,ad other ao,.rnn:r ~.~i a-r municipal
<br />.,^,.:r,.r.. _`trtr>- ar impi+sitioas, for u~*zicit ;•rt„ iii.,n ra: nntr+rrn made hrrzint+rl.*rz. end n :ief::uft thzrrof t~ }lone~asre maG
<br />;at the v-~mr: ant: chat thz Rlnttgagnr u-ill ; ruiapt:t deli, er the , i3irisl receipt. ihzrrit:r to the \lortcagrr. `~ _ -
<br />_ 7'hr lftvtg:ignr call! na: ail t:nr, uhsch may ivr !r.ied upim ttx'.Iangaere~s intzrrst in said real z.ta!r and impnxvr-
<br />snrtx-. asd which ma}- hz ir,ied upon tltiS mo~igicr t,r the dzht :r:urrd i,rreb_r,hut t>nl} to t}x ; vtent chat >uch is oat pmhiltit-
<br />rd P; 'au anti arla ic. the extent that <uc,^^. ui?l no[ male this i.,an usurious:. but rsciuSing ant ircumr tar- Starr at I'rdrral.
<br />izn;u,srd nn A9ar*,ga.rr, grid »~,li air tlir .,tTicia' ;r,rtpt .nag mg sucn pax men[ » sih the \tnngigr.. L-non , itda[itm t:i this undzr-
<br />raki»g, .+r d tfiir A#>^~ragvr i. nruttihitrd b} ; n: i .,. ;,-,u , : ixrra(ter : yistinr irum navieg ihr a nuir.,r any p_urtion of tfir afurr-
<br />sait t;:xto-. ter upon *.hr rrrdertng 3i any coca= 'z rr ;-rahrruzng the pa} mrnr i=y ibr 'ltortcieor rr any wch fairs, ar if ,u. h law
<br />-<,; Accrce ;,rt=x-xx~r: that ~anj t ^.:t,rutt .n paid h4 the '.tt,rt_rsg:,r .hat' h, .rra,;ril ~n tar -t,n,:,ee deht.:hr \lorigngzr tihal! have
<br />:fK ng±tt h+ gi>e nines} d~c}>`. written :,.+txe ;., inr .~v. nrr ~, , '.itr mtvt caged pzrntisr s. rauiring the ra} merit of the mortgage
<br />dr~ixt. if such :yii~°r t?z given. rite ;axil debt ,n::i! hr~ t,rnr .iur~ ~., t .;rl.:,n.i .:.=;k~ unfr ,,t the e xF ,r t;tin of ,:cad ninrt x day..
<br />:, "Sisat stnau}d he fail to pay nos >sm of t.rcp Ym r,.:rra ~,ct pruvtdrd trot in trtis ytu»g:rgr, then the ~farigr~er, at its up-
<br />sx~n..~~s. ~,..n~;+rrfc+rm the .amt. and ail : xprndirurr+ st, :'nadr ,hall hr cddr,i n, the *nnana! cum u,t the .,n the zrh<~.e natz.
<br />,ixail t,r ,rcures ixrrrh: «r.~ .lull! bra; i„rrre.. + inr :,.,_ _ rt t sfh !n rile ~,ra n~+tr. aril raid
<br />?'hnz he hereby assign>. a~amfr=, nnu ~srt, .~, r-: t.+~tr~~\t.,z~=gng're n= ^.z apnStrd [,•~ ara the pa; meat cat the note and all
<br />,um ~,r:u;aa itcrrt+y to ;..: i a d + ..,. - , tar ;+e~ri.=,rr.~;tcr ~.,t . ny .~; ;i~z tcr;ris ,.ra ~,..,n•n.~ns ; i iht, tt.,rtgigr u: the .azd
<br />rwtz- ati t3xr rents. rr, roues and iricamr ;.~ nr fir r„ zd fron, t'rc t^.=ng:tera rrrz:t„r, during scat h tittle ;i, the mungage mdrl?[ed-
<br />~. 3Rs23rrrvain ^npttd:and the ?ttortga~~-e ,...all h,a,r px+w r, t;,;;;,owst .env agrntt+r nFanr, :t may dr,irr fi,r the purpose o;
<br />°egarratxg yid},3 pFCSA1S2! 3ri(f (!t tr~Atrr.~?hr '~i4:rir an_il .,•';~rl :rAr' t?xr eril[~. ?r't rn L`r, r!iit IR~U:.7r. '::nil :1 mil ~•d4 i1;7[ of Saks t:t-
<br />aXries all za;.,rnsrs . # rrpauutg said premzsrs :srid tir:r„nr:.t+mtnissi.+n, and rr.peetsrs incunrd in renting ant m;;na~ng the
<br />~7[tnt anti ~f r~kitin_g rentals thereSr~: nt; the ;,,`:~..... ,..<.a:rr ;g- ii snv. , .t ip=p;icd „::-ari3 tt~ diic-ttarge of t,uii murtgat[e
<br />itxdrbirdnras
<br />i+. That t,e wii3 tcetp the imprnvretznts r<u» rxi,urg T h„rea'trr rrzrtza =:rt .YK ;a:rta;;eeti proper!}, in.nred as nrel- hr
<br />^rquirrd fit+m time in timz b} thz 'vlart° r aLa,n±t ;ors by !ire in:i t+tixrr ha_;trds, _:,,ua!tie.. - -
<br />t - -,rid ct=ntinzrnczr, to ,cash
<br />attiatrtusasui lane x.iich peruats as may ixe reyutred M the rtt,nrager 'gnu »ilI p.+c ntom;+t!} , uhzn due .ins prrrniunts x+n ,uch
<br />iresrtran~~e proxi~an for pa+ment of Ȥi<h has nut f+rrn ;trade hr;rtnhrfnrr \lt insnr ncr >hail hr earned iii , s,npuna, 1p-
<br />protrd 2+) [he Itltxng~gee and the policies anti erne».x!s titrreui ,hall t+z tirid E+u the Mcxtgwgrr and hat~r attar: lied thereto !u„
<br />'~ payate'a^ ola~s~ to fdRax c+f met io farm acapt.zblr to t~ Aficrt3ager In rrrnt f ln,a Alorigags » iii k r ,mmrdtatr notix by
<br />+i'i rxutit tx itx Mtxrigagrr, who tiny male prof xt; l.:ss it not mode prom pti} t+t lxl ortgagur. and each tnsuran~c a-mpany cun-
<br />crrnrd is lureby suthariztd atul ditertrd t.x make pay meat for .uch loss directly to tlxe filar[gager instead of to the ltor[gagur
<br />and [tu `dixtrr a3irrtly, and for insiuancr pnx:erds, =?r any tin therri,f. ma}' he apptird h} the Mortt;:+t;i?e ar it, optian Tither
<br />t+e ihr n;dtictxxo td t#ItiritfrZrtCdiYSS hrreby~ srr;url to in the rrsuuatit+rt ce repair of the proprny dameeed. In event of torecio-
<br />surrtxf thu cixr +-t4ier transfer txf titlz ttx thz mcrrgagrd property in rstinguishmzrt <*f the indrhtrdnr,> ":reared hereby.
<br />ell right. title atutrnterrst of the n~txngagixr in grid iu any insurance policies then in fare shalt pass to the purehasrr of erantee-
<br />`?. T#iatas additiixrtal and cu3tairral sec-uritr~ itxr rile pa}meat of the note drscritxtf, and all sums to hrcome duz under flits
<br />tncxftgiigr, the Mt3rtgatgitii #ierri+y assigns to slit ?Mortgagee all profits, revenues, ro}al[irs. rights atril henefits accniing io the
<br />!vltxrtgtegor uttorr any and alt tai and gas !rases nix said frrmises. with the rig#i4 to receive :md receipt for the ,4me and appi}
<br />them to said indr!+tedtxess a; u-ell ixforr as niter default in the ennditions o€ this mnngaer, and [he ':fcrrtgager may demand. ,car
<br />ftxr and recary~tat~Nl •tmrnis when due and payable, but shall nut he required so to du. "i~his ;:s,ignmrm is to termutatr
<br />arxd btc.w,ana~ ' n release u# this mtxrittagr-
<br />=H4 .,43M t50 7],
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