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<br />{ (j month prior to its due date the annuat mortgage insurance premium in order to provide such holder
<br />with funds to pay such orzmfum to the Secretary of Housing and L"rban Development pursuant to the
<br />Naiior:al Housing Act, as amended, and applicable Regulations thereunder; or
<br />{II} If :ad 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 (in lieu ~f a mangage insurance premium/ which- shall be in an
<br />amount equal to one-twelfth (I/12) of one-half (I(2) per centum of the average outstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments;
<br />(b} A sum equal tp the ground rents, if any, next due, plus the premiums [hat will next become due and payable on
<br />eolieies of 8re and other hoard insurance covering the mortgaged property, plus taxes and assessments next due-
<br />on the mortgaged property (al! as estimated 6y tfte Mortgagee/ Less alt scans already paid therefor-divided by the
<br />number of months to elapse before one month prior to the date when such ground rents, premiums; taxes and
<br />assessments will become delinquent, such sums to be held by Mortgagee in trust to pay sand:ground rents; pre-
<br />miums, taxes and special assessments; and
<br />(c) All payments mentioned in the two preceding subsections o! this paragraph and all payments [o be made under
<br />ttte note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each tnanth in a single payment to 6z applied by the Mortgagee to the following items in the order set Forth:
<br />Q) premium charges under the contract of insurance with the Secretary of Housing and Urban Ievelopment,
<br />or manth!y charge lip lieu o) nuxtgage irsurance premiurnl, us the case may be;
<br />f[I} ground rents, taxes, assessments. flea' and other hazard insurance premiums:
<br />([II} interest on the note secured hereby: and
<br />(IV) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless matte good by the Mort-
<br />gagor prior to the due date of the next such payment. ~:unstitute av event of default under this mortgage. Ilie
<br />Mortgagee tray collect a "tare charge" net [o exceed four cants {4g) for each dollar ($1 } of each payment more
<br />than fifteen f I ~ { days in areas to cover the extra expense invehed in handlin; delinquent payments.
<br />.,. "that if the total of the payments made by the ,A1ortgagor under 1G) of para,raph ?preceding shall exceed
<br />the amount of payments actually made by the 1lortgagee far ;round rents, tares and assessments or insurance pre-
<br />miums, as the case may be, such excess. if the loan is current, at the option of the Mortgagor, shall be credited of
<br />the 1lortgagee on =ubsequent payments to be made by the Nongagor. ar refunded to the 1lortgagor. If, howevor. the
<br />rnanthly payments made by the Mortgagor under r bi of paragraph .preceding shall not be sufficient to pay ground
<br />rent, [aces and assessments ar insurance. premiums, as the case mac he, when the same shall become due and pay-
<br />able, then the 1lortgagor shall pay to the lrrgagee any amount necessary to make up the deficiency, an or before
<br />the date when payment of such gmund rents. taxes, assessments or insurance premiums .-.halt be due- I[ ai any
<br />time the Slor[,gagor shall tender to the Mortgagee, in accordance with the prnvisians of the note secured hereby.
<br />ful! payment of the entire rode"redness represented thereby, the liorfgagee shall. in computing the amount of such
<br />indebtedness, credit ro the account of [ha Mortgagor alI payments made under the provisions of tai of paragraph _'
<br />hereof which the 1lortgagee ha-. not became obLaated to pay io tht' ~ecretarv of Hnusin6 and f'rhart Dc{-zlapmem
<br />and env balance remaining in the fundG accumulated under the provi~iun= of b; of paragraph "_ hereof. [f t.herc
<br />.,hall he a default under :ms of the prowion= of thi.~ mortgage m<ulting in a public ~ale• of the premi=es covered
<br />hereby, nr if the 1lorigar?ce acyuirec the property odiertsise after rie.lauit, the lfortgagee hall apph, sat the time of
<br />the commencement of =uch pracerdirt".•. or at the time the property it othenvt=e atgarrea. the balancF then rentaia-
<br />ing in the fmtds accumutatrd under =i,,, tl' para,;,raph "_ preceo-n„, -~- a ,•redit at;aia-t the antnant :*] nr`tncipal th~a
<br />remaining unpaid under -Feld note. and .bail prooeris adjust ans navnent- wtuch ~httii itau~ ireen made' under ~.:?
<br />of paragraph '_',
<br />d. "I-hat the ~Gxtgagor wdt p;:y Ground rcrts. msrs. ases~ments. carter rum's. and other covunmental nr mumcipnl
<br />charges, tines. or imposmans. t+?r :ahtch prof i+n+n h;n nut ?+een rti;:dr hereinbetore. .:rid m default thereof the y". or[gagee may
<br />pay the samz::md that the /tortgagor adl promptly del!ee*:he otikial receipts ihercfor w the Sf++rtgagre.
<br />i, The Mortgagor ss dl pay :dl taxes which :ras be Ircied upon the xLxrgagec~ mterr>t ni ,ant real estate and :mpnne-
<br />mrnts. and which may hr lecird anon rhrs mortgage or the debt scarred hereby that r•Ns to the extent that ,uch rs not pn>hihu-
<br />ed by lase ;rod ~mly to [he ettent that wch will oat make this loan u,unouv_ hm csrind mg am income tat. Mate or Federal.
<br />imposed do Mnrigagez- dad aril file the oftidal recrtpt show mg Hoch payment ssnh the \iur gages f `pop •.:oiation of this under
<br />taking, or if the Mungagor :s prohibited h} any taw now or hereof ter cxnong tnnu pay mg ihr ++hnlc ur :: r.t punu>n at the ufore-
<br />mid taxes, or upon the rendering ui am court drrrcr Prnhrhdmg the part rotor nt the Vertgapor m am ~urh our>..rr d etch lase
<br />or decree prat-ides that anq amount w pcud by the Ytorteagur sh:dl he crc ti ned on the mortgage debt. the Vortgugre shall bare
<br />the right to give ninety days- u-riiten naUCe to the nw Her of .he mun'3ageu prenuses. reuutnng the t`asnwni ,et the mortgage
<br />debt. If such nonce be given, the said debt ,half become due, pay able roll ru!lectrhlr :.t the rspuauun nl ,ard ^mztr,iat s.
<br />0. Thal should he fail [o pay any sum or keep ens cuven:rtd nrovrded tsn m 6vs Mortgage. ;hen ihr tiL+rt,agre. a! ns a,p-
<br />tion, may pay ar perform the same, and all expenditures so made shall he added t„ ihr prim :poi gum owing on the ahot-r note.
<br />shall be xcured herrhy.:md shad! bear interest su the rate set fanh in the ,Hid note. anal paid
<br />'. That he hzrehy assigns. trunslers and ,eu over to the Mortgagee, to hr ::rip^i:rd iowaid ills par ntrnt of the note ::rid ::;I
<br />sums secured hereby m case of ~ iletault in ihr performance of env o[ the irrm~ and ,-emu uon+ e,i :hrs Mortgage or the ~nni
<br />note, all the'retits. revenurx ;end ittcume to he dented born the mortgaged prenuse.s,iunng .uch ame ::~ the mortgage nicieh[ed-
<br />ness shall remain unpaid; and the Mortgagee shell hate power to appuun anc agent r+r agenu~ a nt:n drxire for the purpoxe of
<br />repairing said premixes and of renting the same ;ntd roller ring the renn, retrnurs .+nd :na+me, anJ a :Has per out of ,aid m-
<br />camrs all expenses of repairing said premises xnd necess:uy .:omnusstona :std exprnarx me~ned :n reining and nrtnagmg ihr
<br />Soma Rod .)f CBittging renlais [hCPCiram: tfie balance remai^Ing, ii In S, m h2 applied toward t[:C drsChargL' ut l'Ald :nun gage
<br />indebtedness.
<br />3. 'Cttut he will keep the improvements now axrsung or hrrealter erected on the nuxtgugeti proprrn'. insured .n m;n he
<br />required fn?[tt time to time by the Mortgagee ug;tinst lost by flee and :nher F.a,:anls.:asualucs and aanntgenr:us .n wch
<br />amounts and far such pet'iuds ap may bz reyuued by the '<4 ortgagee and wdl pay pnvnptls.'+hen due any ptrnuums .m such
<br />insurance pmvisiun far payment of which hex net been made hereinheforr. All inwrance ,hail hr r,:rncd ut s:nmp;uue> ::p~
<br />proved by iht .Mortgagee and the policies and rrnewab ihar'euf .hall hr held t+y the ~11 ortgagre .rod base ,:tote lied thereto lour
<br />payable ciaaxs in taupe of and in foam crccrptuhle to ;he Alarteagrr In event of L+.. Mungagor ,~:II gar unmrd n.ue Hauer ~~t
<br />mail to the ts~tortgagee, who may make proof of loss if not made promptly by Mongagut..md each m,w ana• ~-++m pane .rm~
<br />cerned is hereby authorized and directed to rnakt payment fur such loss directly to the ;Mortgagee instead ref io the Mungugor
<br />and the Mortgagee jointly, and the insurance proceeds, or ;ms part thereof. tna} hr applied by the M or[u+gn• .u us opuun enlist
<br />to the rzduztiun of the indebtedness, hereby secured ur to thz restoration ur rep:ur of the propene tiamngrd In e.cm of fora io
<br />sore of this mortgage ar other transfer of title to the mortgaged properR m exungurshment rt the indebted ova scrurrd herrb+.
<br />:dl right title and interest of the Mortgagor in :rod to urn inwrmce pollees then m lour shall paps m the par. baser rr er;uuce
<br />9. "flier as additional :rod collateral securny far the paymem of the note dracnhrd, and ~Il cam. se become due• solder shs~
<br />mortgage, the ~9ortgagor hereby assigns to the ,Mortgagee :dI prohts, re scours, :os alms, rights and i~rneht. ac. nn rig to the
<br />btortgugar under any and all oil and gas leases on .aid per miser. s+ath the right to sterns ::rid rrrrspt for ihr ,ame and apph
<br />thtm w said indehtedne;.~~as wet/ nefare as after dzfau6 in she cordsnons ut ihr, mor[gage..uufthz ~x#ortgagee mar ,tem;ind- sue
<br />for and recover any such payments when liar and pay:tole. liar ,tudl nos he rrEpured .~~ io Jo fhss .uvgnmen: +, io tens m;nr
<br />and become null and void upon release of this mortgage.
<br />~ e.._ _-raM ~ to ; ~.
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