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(1) month prior to its due date the annual mortgage tnsurance premium in order to provide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Drvelopmettt pursuant to the
<br />NaUOnal Housing Act, as amended, and applicable Regulations thereunder; or
<br />(II) If and sn long as said note of evert date and this ins'tmment arc held b}' the Secretary of Housing and
<br />Urban Development, a monthly charge (in lieu o(a rn<xtgage iusurcnce ~nrtantiunt! which shall be in an
<br />amount equal roone-twelfth (1!L) of one-half (i(3) t><'r rentum of the average outstanding balance
<br />due on the note computed without taking, into account dzlinouencres or pmpaymrrts;
<br />(61 A sum equal tq the ground rents, if any, next due, plus the prendums that will next bzcontr due and payable or.
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes sod assessments next due
<br />nn the mortgaged property (al? as estitrtared ht' the :tfurtgagec•i 3rss all sums already paid then•ior diLided by the
<br />number nl months to elapse before one month poor to the date when su.lt ground rent>, premiums, taxes and
<br />j assessttaents u•iil hecomz delinquent, such sums to he held'cy htorrgager in trust to pa} s.rid grour;d rots, pre-
<br />j miwns, taxes and s~rcial assessments; and
<br />o (cI All payments mentiottrd in the two preceding subsrctinns of this paragraph and all payments to be made under
<br />+~ the m.tr secured hereby shall be added together, and the ar~eregate amount thereof shall be paid'ov the bturtgagor
<br />raclt month ir, a stnelr payment i<a 6e applied by the Mortgagee ro the toliewing rrems ut rhr older set fnrth-
<br />(Il premium charges under the cnntt-act of insurance ulth the Srcretan (li Housm. and C'rhart I}rvelopmrnt,
<br />ar momhlg charge jin i?err nfrn;+rtgage insrtrurce t,remiunr„ as the .'asr mac hr,
<br />(Itj grtwnd rents. taxes, assessments, tor, and other hazard insurerla' etetniums;
<br />i l li) interest on ihr note secured hereb} ;and
<br />(IV 1 amortization of rhr principal ref ,aid note.
<br />Ariv deficiency in the amount of an} such sggrrgate monthi. , a}nlrnt shall, unie~ made good by the Mi~rt-
<br />gagor prior to the due date of the next sorb pay meat, _, rstit:ttr an e,rnt ,li ,?rsanit unr3er =.Ylis mortgage. Ilte
<br />,~iortgaRee may collear a "late charge" not to cxcmd L;cr cents Fitt for each Jollar tc? t of esch r-cement morn
<br />than ft42crn (I;) da}s in arras to rocel the ea::a rxrrasr mc,,h~tri m hsndting delinquent pat nlr~lt~
<br />3. Iliaf if the total ui the pa}menu made b} the \tnri;agnr under . ~: + of paragraph prrc•ivfing shall exctrd
<br />the amount ai pa}menu ac[uaiix made by the 3ktrt;~a_t•e for ~+round rent-. raze- and a.sst•s-mc•n[s or insurmre Pm-
<br />mimtt:~, ac rite cae may- be. ,ttch excess. ii rhr ltutn is currant. ,tr the option of the lkutgaKor. shai3 4~ a.•rrtfited M
<br />the Sirutee un wb<.equevtt pa}ment- tt, be made by the 11vn~ta_or. ur refunded to thr~ tlonga;;or if. hou,•ser, tfte
<br />'+xatthi~ pa}taents trade b} the lkxtgagxx uixier : >; of paragraph -preceding shah net he .ufficient to pat, Rrtlund
<br />sletit, ta'<e.~ and a.:see:tmnt. or ingtrance premium<, as rho c:t-e ms} be. when the same -hull tx~cnme due and pay-
<br />a61e. then rise 4kita2atsor ..hall pay [u the lkinpag~ anx amount ~eressan' to make up tht• ciefirit*nc•1. nn or brtori•
<br />rite dale afters paxa+ent ni =ttcit ~ruund tent-_ laze=. a=es,'ment.~ nr in-urance pn•mium- steal! lx• due if st silx
<br />fits the lbrfgagar .ItaII trKtder to the 'tlnrtPae.•e. in accor?ance with the prnxisions of tht• note se+~ured hembx.
<br />full pa}taeni of the entim inti~baetirte=- ripr<•-c~rttr3 tht'rnhv, the llvrteagee =ha13, in ,~am}nuin_ the amount of sorb
<br />iraleltiedrterss. ct•edit t, dte acit,unt of the `.4.,rigagir all aavments made under the pr,l.,.:.xl, .,f .: of par.iKraph
<br />hexetif wfaieh the 0.larioaeef, ha- neat lxcume „ali_ated to pax t.l the ~ei•rrtsn of ":,u~rn_~ anti t than tl~,r;njxnent
<br />ssd ante balanrr remaining in the foods arcumu;atcd under the prr+si=ions of n of nartt=raph ' hetcw . tf there
<br />~aii be a deiauit under an} of tht• prnsiais+n; of th:= aairti:~e rc•>uitin_ in a puL3ic -sie• r,t th,~ pti~m -,•~ r~osered
<br />9eseb}', ar it the \Ioty_v*smty artptitYS rite am}terts ot_hcttii„~ after default. the ik,n_:c,•r•,• -n.tll a,rpi}.:•' rho time .li
<br />she camment•+emrnt of .ut~ prtx°trd'in«.~, ar at the-time the pn,pem is .,there t-r~ as quin•d, th,~ ;utiamce the n rt^maio-
<br />ing in the €und? acrumuiated under ~ - of ps*ugraph ° pn•r•tviin„. a- a ~ n•dit ar£aan~t th,~ .mlt,un[ of principa' ,t,en
<br />temainin~ uttpaid tmdes said note, and -ha31 pn.perl} adjust :fns payment- yhi. h Khali rtu,c ix°rn mad,• under : o
<br />sf garagraph '_'.
<br />t!. *.he 11ort~~,r alit pay er.,und rent,. lave.. sssrssmrats_ cater cies...ad re her ¢r..rrn-_.aa ,r :nunstipa!
<br />char^grs, i5rses, cu impa,sivcut>, f u u bleb proy is~vn has not been male hrrrinl,rfjre, and :n .irt~:uit thrrr.,t :;,r ll,~ngacre ma;
<br />pay the same; attd that the Mc rtgagor u rli nromptiy Jrh+rr the ot$cial re. ript; therefor to the ltortt>::yrr - _
<br />5. ~ Mottg,~ r uill pvy a?t razz, n hsh may ~ leyizd u}xln thr'.Iongagrr'e intern=.t m v~ tea' r-late :mo smpr„ar-
<br />mrnts, atsd whir}1 mat t+r les ira u[x,n thts mongagr ,,r thz debt secured hereby thvt Doty ua the extent that ,uch a, not pn+hthit-
<br />rd fiy taw and only to ihr rurnt that well uii? rn+t mai:r This i.13n usurious i. teat rx.luding any income [ax. irate ,+r i rJrra'..
<br />ir€.jrc~5dd an ~i:~igagzr. and w ill rite ttir offs. i_~i rrrrtpt mowing such Payment u ith tht 3f.art~ager. t.non yi,+%a[i.,n .,f this undrr-
<br />iakrrtg. nr if the ?rlonrv tc pr.,hibitrd t+y any lau Hoy .lr hereafter zvisting fn?m pat ing the a ht+?; ,,. _ rir.,n _ f t':lr fr*-re-
<br />said txxrs_ rv upxn rhr rziairririg of an, a+un dr.rzr proiribiiing the pa} mint h} thr'+lort~.tgt,r or anyr;u. h a~xrs..n d such lau
<br />,,r ar,°rre jui,vidrs butt am am ntm so pail h, rite Mnngag.g ;hail he crrditef ,m rhr mortg;,gr Jei•t. the xtvrrgagrr ,halt hayz
<br />the right to gixr Hirai} cfa}i uriiten ttotice to the Donee ,+f the m;lr[gagzd premt.rs. aeyuirn~ *hr ps.-mrm ,,t the mr,rteagz
<br />debt. 3f welt m+tiet fir given, ttir said debt chair become cur. paydlliz and a,ilrcuhir „t the rtpir_:k:n ,,f ;aid Hiner} Jay ,
<br />t.. T'kmt sltcsukl Ire fail ita pay soy sum a r lrep any ccy er.<ult provided for m this \i.lrtgagr. thin thz 3fnrtgs}_Kr_ at it, op-
<br />ritxt, ~a}• pay to prrforsn the wamr. sod a31 rtprnditure; ,a madt shaft hr addeJ to the prtr.~ip.~:I ;um uu ing un the shoe nose.
<br />shaft i>,z srrurrd ttr'reb}. and shat! hear :ntuest at rhr ratz ;rt fnnh in the >arJ note- anal t•=+iJ.
<br />-. T"ftat Ix hrrri+} assiem, tran,tr-• and sets otrr to the \inriP•igrr. to Ile apphrJ t,ruard the pay mrm of the ante and ail
<br />.um. ,reared hrrrfi} in a7tse of a deFrait ir. the pzrtnrnlanre ,1t soy at :hr term, anti :,+ndtnx~n, ,lf rhr+ ~Sor[eagr .rr the sa,d
<br />taYtte. alt tau rents, rexrnurs and inc,sme to ix derixrd from the mortgaged prrmt;rs Jurin€ ,u:1a liner .:,the rn++ngaz mdebtrd-
<br />tmss email rrtaaitt unlwid. amf rite ~.lirrtgrtgrr >ha33 Ira.e t>.?wrr to aproim any agrm ar agent, ,t nrey rirsirr f.lr the purpoae :~f
<br />t'el+atrtRg -'caw' premises and of rratirig rite same ltid :.ollrcting the rrntt. rryrnur, anJ in.omr. and it ma, *uy .alt iaf -aid in-
<br />t°ont. rs all riprnses of rtgavtta~ said t+remists sod ntcrasar} amtmissi zns artd expenses mrurrrJ in reining and managing the
<br />Sasfr and of crnik.tittg trrttt2}z thrrrirom: the ba#asxr remaining, if any, to bz apphrd ;inward the drscharge of ;aid mortgage
<br />indrbtcdaesc_
<br />r. ~ t€~ t€tr improx~rtarntc .>irw zti,ting or hrrcafizr rrretzd on the mvrtgagrd property , insurzd as may be
<br />rtquiird fry titer iv time fay ih2 Along ~ainst =os, },} fire and sthrr hazards. ce,,usities sod nantingrncrr; in such
<br />xtnaounts at~d far ssse#t prrsasis as ttaay ixz regained h}' the Alnngagrr and uii? €'ay promptly-. uhrn Juc, : n} perntiunu nn such
<br />ig5urslnCy pt'osisian far payttt~nt ttf aftich Etas eta! been made here itthefarr..at! insurancer ;hall he .etrirJ in companies up-
<br />prarcti t+y the 'ulortgager and i~ policies and renrxvais thereof .halt fir held by the Al angagrr :,nd hate a[iechrd tlleretsa ios,
<br />~, grayabte clauses to faxtw ~ and in ittrm accxt+tai74r to the Aii,rteaerr in event ..f foss \€ongag,x ;. i1 grs-e immrJiutr ^vticr ?+)
<br />^ ?gnarl fates Isiarig~ta whd mag make proof o€ lass if clot made prompt!} by Mcutgagur. and each rrzsurame campwU cun-
<br />cYreod is herthy autit~xizrd and directed to male paytnrnt i u welt fats directly to the ?4lortgagre instraJ of tv the Mortgagor
<br />"~ and rhr Alt+rtgagrc jtriniix', artd the insurancez prcretds, yr ens part thereof, may t+r applied h} rhr Mortgagee et its option rithzr
<br />iathereductiitac of the iadebttdness Iferetay secured ix u, the resiniatinn nr repair of rhr property JamagrJ. In r, rot of forrck+-
<br />. steer of this tttot1gttgear crtitet ua±rsfrrof riIk to the mortgaged property in extinguishment r+f the indef+tzJnr>, secured hereby,
<br />a31 right litk and iMrtrsi of rhr Mortgagor in and to any insurance pnliries then in farce -,heft pass to the purchaser ur grartrc.
<br />U, That arc addiizanal anti collateral srcurit} for rhr payment of rhr note dr<crifirr, and :~l} .ram,. to hrc.,mr Jvc under this
<br />~rigage, tb~"`31Cr'ctxy assigns iu the Alvng~r all profit,. rerrnur,, n+}-shies. right, and hrnetitd ac-.ruing to the
<br />Alartgagnr ttmitr any attif ail nit and gas t..„ales on slid premi+es. with tttr right to recriyr and rrcr[pt for rhr same and apply
<br />tficm la said ittdtbtcdttrss as weft before as after drfauH in the conditivns of this mortgage, end the Mortgagor may JemanJ, ,ur
<br />far and t1E"aver any licit payrrxnts when due araf payable, hat shall not tk tryuireJ xr t., J,,. This a,signment i. r,r terminate
<br />and t,rca+nir null and vaici upon rrtesu of this mnrt~r.
<br />FHA-:1daM (l0 771
<br />5' ~, j
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