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<br />(I 1 month prior ur its due date the annual morgage tnsuranee premium in order to p; ovide such hnidzr
<br />with funds to pay such premium to the Secretary of Housing and Urban Devetopment pursuant tr, the
<br />National Housing Act, as amended, and apoli~ble Regulations thereunder, or
<br />(fll If and so lorg as said note of even date and this instrument are !told by the Secretary of housing and
<br />Urban Development. a monthly charge lie lieu of a mortgage Grsurarrce prerriuml which shall be in an
<br />amount equal to one-tweh'th (1(t3) of one-half (t/2) per centum of the avzrage uutstandirtg balance
<br />due on the nose computed without takine into account dzlinqueceies or prepayrnrn ts:
<br />(b) A sum equal to the ground rents, if any, next due, plus the premiums that will next b?come due and payable on
<br />policies of fire and other hazard insurance covering t!te mortgaged properh, plus taxes and assessments next due
<br />nn the mortgaged property (a<7 as estinratetl by rite ~Iforryageel less all sums at ready paid therefor divided by thz
<br />number of months to elapse beforz one month prior to the data: oboe suttt ground rents, pre moons, taxes and
<br />assessmerts wilt become dzlinquent. such sums to bz held by Mortgagee in trust to pay said ground rents. pre-
<br />miwns, taxes and special assessments; and
<br />(c) Ail payments mentionzd in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the PSurtgagor
<br />each month in a single paymznt to be applied by the Mortgagee to the following items in the order set forth:
<br />fl) premium charges under the contract of insurance with the Secretary• of Housing and Lroan Development,
<br />or monthly charge (try lieu v) nrortgaze iustvarsrc premiuntl, as the case may be:
<br />flt) grvund mots, taxes, assessment, fire and other hazard insurarue premiwns;
<br />(III) mte rest on the note secured hereby; and
<br />([V) amortization of the principal of said note.
<br />Any detlciency in the amount of any such aggregate inonihh. nayrnen[ shah, unless made gaud by the htort-
<br />gagor prior to ?he due date of the next sudt payme!,t. u>rutintte an event of default under this mortgage- 'Cho
<br />Murtgaeee may collect a'9ate charge" not to exceed t~xir tents 1';¢) for each dollar (Sl'I of each payment inure
<br />than tTf raen (I,5) days in areas to cover the extra expense im~ohred in handling delinquent payments.
<br />:i- That if the mrd of the payments made by the ylnrt;!agor under ~?.! of paragraph P pmc•edinp ahalE exceed
<br />the amount of payment; actually made by the ~11ortKagee for around ronts~, roses and a~,esment~ nr inmurance pm-
<br />miums, a~ the ease mat be. such excess, iF the Loan is current, at the option of the Sorgagor, shalt be credited by
<br />rho ylnrtga5ee on ub=equant papmenL to he made by the yLrrttugor, t'rr refunded to the Alort.eagur- if. how afar. Lhe
<br />emnthiy payment, made by the Morgagor under 11,i of paragraph '_ preceding shall not be sufficient ro pay ground
<br />rent. raze= and u~~essmenL or insurance promiums, as the ca~c may be. wtron the >umc -hall imcome due and par-
<br />able. then the '.lurtgaKor shxC pay to t-he Jtortos~ee any amount nece-derv to make up the defictnncv. on or before
<br />the date x'hen payment of such emund rent=. rases, a"es=menu or itrsurane•e premium< shalt be due. ti at xnr
<br />time the 3-tortnagur shall tender to the ~lnrt~s~ee, in accordance n~ith the prop-i~ion- of the note =ecured hert~hv.
<br />fell payment of the entire indebtedne=- repre~enu•d themhy. the ilonragro -hall. in computln!* the amount of sash
<br />indebtedness, credit ro the account of the Mortgagor a!1 payments made under the pruyisions uE 1++: of paragraph
<br />hereof which the Alorigapee has nut become obligated to pa} to the ~ecretury of housing and Orban Deyetopmcnt
<br />and am balance remaininh in [he fund- accumulated under the prnti.;ion, of d,; of puragntph :hereof. tt Chore
<br />tihatl be a default under am of the pent,-ion, of Bits mortgu;te m>uiting in e public ~:de of the promi=eti covered
<br />hereby, oc if the Ytort-va,ee acquired the pnipern otherni-e after dcLtul t. the Alort~a,ec sfiatl apply, :rt tfie time ul
<br />the enmmen cement of such prncecdinf*..~, nr at rho time tiu~ prnporty is others+i-e ac voiced, the balam c+- du•n tt•main-
<br />ing in iht- funds accumulated under (%~i ul p;n:u~riph ' pn•c-edin a. a credit a~:unmet the amount of pnucytal then
<br />rr+mxining unpaid r:nder =aid note, sod =halt prupxrlt ad3tt_! urn par menY•- aitich <hall lot; t• Fr,•t,. nut d!• ttndcr!.='
<br />of paragraph ?,
<br />Tha( t.te fi`t:?Ptra,'t!t 1.!il pal ~RrU rid cony\. l:lle~, .t~*e,+nlrni,. hater :i `.ri. .in;7 cr _Jl ernilie nt,iE c+r innmilfrai
<br />ohs:rge+. tine,. or intpns;uor,---., fat which prarisior, has eat ,zee snack Et:~sc;nF --Erse- end ~ auh ~t Errra.+f ;lt- A, ortgager it,a.
<br />pu} the s;unr; and that the )hrrtgagor tt ill promptly dalit er [hz ot6ci:d receipn ibereLu to the At.,ngugcr
<br />?. 1'he Mortgagor +, ill p:n. all rotes which may he Ict~icd upon the ylurtgngce's interest m ,aid real r~tntz <md tmpro.e~
<br />menu. and nhich n:up Fe IrcieJ upon Chi; mortgage or the drht ,ecured here M_ i hw onl, !n the etiznt that ,urh is not prohihn-
<br />ed by lat. and ooh m the estent that .urh will not mike this loan usururusi- i,ut rteh!dinc ,tot inromr r.is_ Mute or Federal.
<br />imposed un lkxtgagee. and „ill lilt the uffi nal receipt .how utg ,urh pay men! a nh !hc Al nrtgagc•e. t pen t u,l,.ticn ,d iltis ander-
<br />taking, or ff the 1-hxtgauur i. pmhibued ht ant law now or hrreuf to evstmc hom p;,tmg the whole of -,m p,x u~~n of rfie .,tot c~
<br />.aid late,. or upon the rr nJermg ,+(:my c<nut Jetrcr prohihitine the p;r. moot ht the Al urtgagm or _ut, ,udi tars. ,+r d ,urh iew
<br />ur drerze prnrtde, that ,rot amount sn paiJ bt the ~9,~rtaagnr ,hat! h .red!ted an !hz vi+irtgugc Jab[. Jir M,a iguy.c ,h;d! ha+c
<br />the right to gar ninett Jm ,- :, nttrn notice to the nw nor of the nntrtgaprJ premi,es. reyuinng the pn men! ~,! ti;c maricaec•
<br />debt if +urh notice he citen, the ,ui,i debt ,hall hrcome due. put able and .,dlrudsle et the ; tpv;u i,at „t ,:uo nmrt•. d;n s
<br />f,. Thal shei.!Id he )ail to p:p am sum or keep :my rayon mn Prot tiled Inc in this AI nr[gacc. then the rLrngacer. et ns rip
<br />lion. may- pay- or perform the same. and all ec pcndintres ,o made shall he .itide,i to the principal ,um ,,,+mc ,m the ibo, ~ nore.
<br />,hall bc• xnucJ herrbt .:,nil ,hail hr:u uucrest a! the ran• set f,+rlL m the .:nil note. until p:uJ
<br />"fh:,t he hrrcht asstpns. u'en.tcr. unit sets „lei lu the Aim lgiigce. m hr .ipplied few unl tltr p,:. roam ,~t the note .m,i ,ell
<br />rums ,ecured herrb} ut r,,sr ,q a dciauh m the parlor m:uxe ..I ,un o! the term. aoJ rondmun, tit the UnrEgage ,n the ~.~nl
<br />nolr. ail the rani,, yet enues and incunte to hr denrcti from the mortgaged prennszs during ,urh ume u, the nn,rtpaue ntdehteJ
<br />ness shall remain unpaid: and the ~iortgager ,hall h;irr pow c•r to appoint any ^grnt ur agents n m:n Jevrr lot the purpose nl
<br />repairing paid premius nntl of coming the same :mJ collecting the rent+. rrtrnues uod income. and it nt:n i+.:~ .nu u( vud w-
<br />eumes all eapzuses of repairing said premise ~. and netessare commisswm and rcpznse+ incurred m renting enJ m;muging the
<br />sunte smd of c-ollzctine camels therefrom: the ha!ancz rrmxi ring. if ;mt. !o br applied trw aril the dn.hat;te of ,.ud mortp;.gc
<br />indehiedness.
<br />Y. That he null keep the unpmvzment. nou renting or hi~reaitit cre~icJ on the mougagcd pn,pctty, m.urc+i .~, mat hr
<br />required from tune to tints h} flit Mortgagor against loss be tir'r ;mil other ha:anls. ru+uaive, :uul .,nninge ncic, in .urh
<br />amounts and Cor such periods as cony be required by the Mortgagee and will pat p: arnptly. alien Joe. ant pirm nun. on suds
<br />insurance provision for payment of which has not teen made herz mhrlorc >II unurnncz ,hall hr aimed m comp:uur..,p-
<br />provzJ by the Mortgagee and the policies and renrwmis thereof ,h;dl h¢ held by the Atortgngee unJ ha+e utcicheJ theictn lo,s
<br />payable clauses in favor ut and in form <:ccepnd,le pt the Mortgagee In error of loss Mortgagor will gar ;nursed one n,nrce bt
<br />mail m the Mongagee, who may make proof of lost it not made prumptlt ht Atungagur..rnd rash in.ui.,use ~onq+.:m ,un
<br />cerned is hereby authorized and directed to make paymem fur such Ina directly w the 4h,rtgagce imtead ni t.~ thc• ~inrtgaeot
<br />and the Mortgagee luintly. and the insurance proceed,, or,my pan thrrruf. m:n hr ,ipphrJ M the Ai.,n ~.,ge~ ei n- ~gninn robe
<br />a, the reduction of [he indebtednes_. hereby secured ur to the rcaor:iuon of repair of the propern d.unuged In ~~: ern .d G~rrri.~-
<br />sure of this mortgage ur other transfer of title to the mortgaged prupern m rxnngunhmrnt ut the inJe bred tie s, .:. ureJ hrrch~..
<br />:dl right. title and interest of the Mortgagor in and to ;my m~ur:mar politic, !hen in force ,hall psis, m thr pur~h.nn ,n ei.: nice
<br />4. 'that Sts addi6onxl and uillater;tl security for the pacmrnt of [he note Jescnhed. and al! sums ^+ hrannc Jac untie the
<br />mortgage, the Mortgagor hereby assigns to the Mortgagee all pr. fin. ra~onucs. rot elite,. nghis :nil in-nehis .,crnnng to the
<br />Mortgagor under soy and all oil and gas leases nn said premiscs.:vth the right to rccrit c :;nJ receipt foi ihr ~.unr ;mil npph
<br />them to said indebtedness as well before us after default in the umdiuuns of this mnnguge and the Murte:~cee ma: demanJ. Luc
<br />for and recover any xuch payments when due and puynb(e, hu[ .hull not he regmred so to do Phis assignment n u+ tennmatc
<br />and become null ;mil void upon release of this mortgage.
<br />NUD.9?147M 19-791
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