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<br />(1) montn prior to its due date the annual mortgage insurance premium in order [o provide such holder
<br />with funds to pay such premium to the Secretary of Horsing and Urban Development pursuant [u the
<br />National Housing Act, as amended, and applicable Regulations thereunder: or
<br />(I}) If snd so long as said note of even date and this instrument arc held by the Secretary of Housing and
<br />Urban Development, a monthly charge tin lieu r.~f a +nortyage insurance ,rremium) which shat! be in an
<br />amount equal to one•nvcltth (1 %12) elf one-half (I /2) par contain of the average outstanding balance
<br />dux en the note computed wiUluui taking into account delinquencies ur prepayments;
<br />(Il) A sum equal tp thz ground rents, if any, next due, plus the prentiun,s that will next become due and payable on
<br />policies of fire and other hazard insurance covering Ute mortgaged property, plus taxis and assessments next due
<br />on the mortgaged property fall ¢r estinrnted 6c t)te bfortgageej less alt sums already paid therefor divided by the
<br />numbzr at months to zlapse before one month prior to the date when such ground rents, premiums, taxes and
<br />assessments will become delinquent, such sums to br hzld b}' Mortgagee in trust to pay said ground riots, pre•
<br />mtunts, taxes and special assessments; and
<br />(c) All payments mentioned in the. two preceding subszctians of Utis paragraph and alt payments to be made under
<br />the note ucurzd hereby shat} L>F added together, ^nd the aggregate amount thereof shall be paid by the Mortgagor
<br />rack month in a single payment to he applied by the Mortgagee to the following items in thz order sit ibrth:
<br />(1) ntrmium charges tinder the contract of insurance with the Secretary ut` Huustn and i;rhan Development,
<br />or monthly chxrgz (rn?lere efntx>rrgagr irzsrrra?xe prrerriurni, as the case may br;
<br />(}I) grum:d rents, taxes, assessments, tier and other hazard insurance premiums;
<br />(ill) intemst on the ante secured hereh} ;and
<br />(IV) amortizafion cat xhe principal of said note.
<br />Am deticiettcy in the amount of and such a~regatt monthly pa}-mint shalt, urilzss made good by xhe Mori-
<br />gagur prior tc the due deli of the nzxt such pa~tne:,t, c,lnstitutr an r,rnt ui defeat; under this mortgage. The
<br />Aiortgacet ma} collet a "late chargz" oat to excrzd iilr.r .Ynts i~l'1 for each dollar (S1 i of each payment more
<br />Utsn i;ltren (1 ~) da}s itt areas to :ovzr thz extra ~ xpen.,• inao,ved in handling delinquent payments.
<br />3. Thai iF rite tole! of dti• pay'flteitt_~ made by the \}artgagnr under :: t of paragraph :r pmceding shall exceed
<br />fire amount a#' paymtnL' artuai?}' made by rite iinrrEagee for _raund leilt~, text=, and as se<~ment~ or in~irr':,rle a {•~-
<br />miurn.<. as the rase mat br, sitrh races, if the lr>:in it; ivrrent, at the apritut a} the Ncucgagar, shat! be crec}itei: by
<br />tote liurtss+s-gee an rub~equent pa~meni_~ to be msde L} xht• 1}or[_a,nr. ur refunded to the i}nrtnagrtr. }t, howevNr, ttte
<br />-tamthl} pa~~eni: made }n• r}m ifarrgagor under ::-,' of pariYrap}: _1 preceding she}! oat he sufficient to pa}• grcaund
<br />nttti, laze= an' azae~sments or in~tranre prnm}um~. aw; the ca=t- may be, Then the game shall 6erome due and pac-
<br />able_ their rite idcxsgsear ~ftai} pay to the tktrtga`ee soy amount nernssary io make up the deficiency, on or befom
<br />the dare rites p>nmettt of =uch zmuttd tent=. taxes. as-ez_~ment:~ nr in=uranre premiums shall be due. li at any
<br />firer rite ifnngagor Mall tender w the iiarrra~~ee, in arrordanre with the prosisians of Ute sate =enured hemby,
<br />~}} payzneizt of the entim indebiednr=.= rrpm~c•ntc~d themb}, the iSurtgagee Thal}. in computing the amount of such
<br />irideiul^drtess, reedit to the accvwnt elf t}le 4a,r't_gaEOr all pa}rlents made under t}te }xt visians of cr: of paragraph
<br />hereof rttirlt the i~uttgagee h~ Mlt Itet•ome ablir?atrd to pay to the ~ecmtan of Heusin_ :end t rban Decelopt»ent
<br />attd any balance ,rmainint in rite funds accumulated under the pmcistons of .., of paragraph '? hereof. ?f there
<br />III be a default antler 'any of the pravi=ions oTthi~ mt+rt„af*e mac#ting in a public sale of the pmmi-e= covered
<br />iiemity. ar if the itert~agee argttire= rite propert} ntherui-e after default, the lkingager hail app}}. at the time of
<br />ahr rattimrrtnaaeitt of srtrh pmreediner, or at the time the ptryterty i? uthenai-e act}ain•d, the hal:utce thavr remain-
<br />in> in the futlde arcvmulaxed tinder :, crf parazraph '? pn•rtdine, :ts a credit :t„slnst the amount of }>rincipal then
<br />tertlruniat unpaid under -:aid note. and ~r a!} pnlpcr}} udju-t any paymavrt- .shirh =hall ha,e Veen made under ?a!
<br />of pttragr~pit ~_
<br />S- Tiwt ihr \],~rtgagor all! hay _rourxi -rnt._ tt+.aes. s,zssmrnts, water nazis, .;nd other ea,rrnntr:-';i ;,r mur:icipai
<br />ch;aers. iaaxs..x tmposittom. for u stici; pr,++-,.ion ?v:> r><,t been tn;rde hrrzinhzforr, and in dcfa,•tt ttterr,,[ thz tf.ingagee mac
<br />pas the vmt: rtrui ih::t tilt !Uurzgz.cor a t.; r~rompUa dr! is rr ttte tt1£ciul rrczipts thzref,v to tar \fort~ger.
<br />Tlx t.f,vcgu;a,r sill px>. wit races u~#lacF7 may },r tented u}x,n ihz M.u'tgagre , +ntrrecz ra satsr real t>txtc snd imProar-
<br />tr~n[s. and ufttuil may bt ire red open ttris martergt .u the debt secured herrM that Daly to the : xtent that ,r;C*: is not prohihtt-
<br />ect hi °.nl~ .and tea- xa tiie extent :hat suCfi a~tH rnn maAr :hi, ;tan usurirxu> r. 'hnt eaeiuditrg any irt-c=,-mr tav. state .,€ Frdzrai,
<br />imnoscd on 1iilrtgagee.::nci wiA fik the otl.tul recrtpt snuaing such pay mrni u irh rite if.vtetier f'~t~n a t.,ianon of this under-
<br />~`iOg_ v d Itlr Motggegalr ss prnh%ttited t+} an} tau m+u ;lr }lrrtuftrr existing frarm paling the a#loir =r anp ;,ortiun of the uhare-
<br />said taxrs..tr upon tilt rrgdrring +'lf anti court decree praihii,i[ing thz pa} mtnt h} tht Miort_tig+lr .+r wry +uch taxes. cl( ii such taw
<br />:~ decree {;a'a,a-ides t}tat an}~ amixrnt x, paxi by the \t:lrtgugar s#tail hr a-z:3attd on tare m„rtga.r ttbt. the \filrtgagtt shalt hate
<br />f}tc rtEitrt t+n ~iae nitxty davi ;arinrn a;,ticr to Litr owner „f the tnortgagrd prtmisz,. rrquinttg the psymrnt ,,f the mongage
<br />detu. If cut'it rlatisx t±e givrn. rite said debt shall iltcomr due. ^•ay shte and c.aile.vih}r :,t she r xplratia+n =,t ,aid mnt[l da> s.
<br />h '}'hat s}uau}d ter fat} m pay anti- ,um++r Atop any--o.ertarlt pr:,aldrd for in tilts \fert,.:a~,r. thin the i?ori~Ager. at its op-
<br />tian, may pa} nr pct#cxrtl tier came. am7 all expendit'urcs so mode shall tlr xddrd t„ the pnncipai ,um .*w rag ,m the aba~a a nn[r.
<br />setall't+c srcurcxi .tezrrhx-. alai she}1 hear irtrrtst at the t-aar nrz far[it itt the xald ncnt. until pa,d.
<br />~.. That hr iterrt+} usstgas. Axnstrr~ .,.vat xts .aa;r tai tilt ?tft,rtiat?ee. io ix apnlard x:uclyd tar Cl mrnt ,li ttlr ;tote and al!
<br />sum} tm>'~rd tfd'r#+p in else ni a dtfuu4t rn the ;*erf.,t-mance of any- z+i the terms amt ca,nur[nm+ nt thl, !.for[gage :.r the ,aid
<br />17tHt, sd} the seats, era°ent~ snd ittrome ao he dtriard from the moritxagcd premasts dunng such tt..:=r s the rrl;=rtgage indehted-
<br />>~ rrassat unpaid; ~ the 1fa,rsgc~te ,hall hurt ~+w rr to appra~ira any ;ant ax agent. a man de+rrr for the purpose of
<br />rry+ai+ristig SrY'id ~-anises and saf rrntix~ the same>nd cc Uccting the elms, rraenuts sad mc:,me. and ,t rea pun out at said in-
<br />.t~mtati oft ex}iettsts of rep;siririg satd prrmzsrs .and nrcrssar}' commissions and <xpenses :rtcurrrd rn rrnnng and managing tilt
<br />~ anal tiF eatiectiitg rentals tlirrefrtam: the irstlarier rertwinirtg, d any. 'o t+e applied toward the di<:;fa<rge of said mortgact
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<br />tl_ That br raj} i:crP the it~+ro3e~enss rtrv, exrstirtg ter itrrrafirr erected .otr the mcxtrd pax:Pert; ,insured as maS l+e
<br />re4uhrd from tirrx to time t+v the }dort~agrz ..~+nsl 1a„s by iuz and other hszArfs. easuntuc, and c.,mrngrn:ie, ,n ;ugh
<br />antoyitt>,: and far such Ptriais as nta5 #ar t~rgturrd by tilt ManF;agee and a~tH Pey Promptly .when due..:ny premiums on ,uch
<br />resxu7eeclr fsxixision far pa}menl csf which itas n.N tteeii m;tde hrreintaefcue. Ail insurance than he .;rented in ci,mpunies ap-
<br />taraovtvd t,v tht kivt~er acid nits t+aiic~s and centrals ihuzof obeli ir: held ily the Mortgagor snd hoar attachzd zhtreto loss
<br />payitfsk :fauxs in fax:lr of and in fixrm acrr{?taitlr to the Mautgaper In rsent of to„ Mortgagor u dt Et,r immedia[e nonct hl
<br />tttrad to file Mfr, rtto may ltsa?tr vrxlat' of inns if inn made pri,mpUy by Mcu[gagor, and each insurance company con-
<br />~i>AOd is hrret+3° alrthiuimd atwi dimcttd to male pa) mrnt itlr such kiss directly to the Martgagee instead of to the Mortgagor
<br />~! Hitt Aicvtra,grt parnt}},and rhz insurance prraeeds, ar env Pan thereof. ma}' be applied hj rhr Mortgaget at its option either
<br />iv the rrtiuciwn id the itadetaedticss hereby secured or to iht rrstoraticln ur rcpxir of the pttapzs t} damagzd. In egent of foreclu-
<br />siu'cdthis uautgx~atr t+ihcr xram#tr of title to ttte mongitgtd praperty in extinguishment of the indetltednes secured hereh} .
<br />ail t~tt, aiatt irrtd xtttrrrst asf tits tfptttttt~+t in oral taunt- insuranct pohcirs then in fume ska!1 pa.. to the purchaser .x granter.
<br />~. That xs additional -and coltaxrrai security for ttu pa}nlrm of the rote described. and all gums to become ,cue under tilts
<br />most8a&r. tht idt~r hesrby as3igtts to the Ai,utgagtr elf profits, irsrnurs. r.,yahies. rights and'henciits accruing to the
<br />aiortgcagsx undo any acid all ail rmf gas toasts un bard premises, x ith the right x, rzreive and rectipt for the saint and apply
<br />t,xm to ;aid i»detltedncss as will iltfa:rt as afar default in ittr conditions of thi : mnrtgagt, and tke MongaKzr may demand, cur
<br />far xnd rrct+vrr any such Payments when due aril Payat,le, t*vt shat! oat t+r required ,o u+ du !'ties assignment i. to terminate
<br />anti txcamr nut}and a-aid utxul rr}zase of this, marC ,yitge,. -
<br />FNA-2ta3M 110?71
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