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<br />P T'mfit~r to its 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 Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder; or
<br />(II) if and so tong 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 of a mortgage insararrce premium/ which shall be in an
<br />amount equal to one•ewelfth (!/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 tq file ground rents, if any, next due, plus the premiums that will next become due and payable on
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessrnent>; [text due
<br />nn the mortgaged property /a1! as estimated by the Mortgagee) less all sums 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 said ground- rents, pre-
<br />miums. taxes and special assessments; and
<br />(c) All payments mentioned in the two preceding subsections ai this paragraph and ail payments to be made under
<br />Hte note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month N a single payment to be applied by the Mortgagee to [he following items in the order set forth:
<br />(I) premium charges under the contract of insurance with the Secretary of Housing and Urban Development,
<br />or monthly charge /ire Lieu of mortgage insurance premfuntJ, as the case may be;
<br />(II) ground rents, taxes, assrssmer.ts, fare sad other hazard insurance premiums;
<br />QIt) interest on the note secured hereby: and
<br />(IV) amorivation o(the principal ur""said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mbrt
<br />gagor prior ut the due date of the next such payment. constitute an event of default under this mortgage. •the
<br />Mar[gagee may collect a "late charge" not to exceed that cents f4yj for each dollar (51) of each payment-more
<br />than fifteen (I ~) days in areas to cover the extra expense uavolved in handling delinquent payments.
<br />:3. That if the total of Ute payments made by the }Inrtgagor under /.51 of paragraph 2 preceding shall exceed
<br />the amount of pa}Tnents actually made br the Abrtgagee tar ground rents, taxes and assessments or insurance pre-
<br />miums. as the case may be, such excess, if the loan is current, a[ the option of the Mortgagor, shall be credited by
<br />the 1lurtgagee on subsequent payments to be made by the 1lortgsgnr, or refunded to the 5lortgagor. If, hnweveq the
<br />monthly payments made 6y the }iortgagor under i h1 of paragraph Z preceding shall not be sufficient [o pay ground
<br />rent, taxes and assessments or insurance premiums, as the cage may be, when the same shall become due and pay-
<br />able. then the Mortgagor shall pay to the Mortgagee any amount necessary to make up the deficiency, on or before
<br />the date when payment oC such ground rents. taxes, aseessments ar insurance premiums shall be due, If at any
<br />time the ~ltortgagor shall tender to the )lortgagee. in accordance with the provisions of the note secured hereb}',
<br />full pavmeni of fhe entire indebiedne=~ represented thereby, the 1longagee shall- in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor all payments made under the provisions of h+; of paragraph '_
<br />hereof which the }longagee has not become obligated to pat «r the ~oerrauv of Housing and Crban Development
<br />and any balance remaining in the funds accwnulated under dre provisions o(+i,i of paragraph 'l hereof. Tf there
<br />shall be a dei<ndt under ant of fire proci=ions of [hie mongsge rwsuitinvr in a public -ale of the premi~cs covered
<br />hereby- ar if the 3lortgxgee acyui vas du' praperh- othwrwi se after default, the \inrtgace >hali appl}.:tt the t.imr• uC
<br />Uu• cnmmencrment o! such praceedinGs, oe at the time the propene is otherwisw acquired- the balance then remain-
<br />ing in the funtLt aeramu!ated under; ~~! al' paragraph 'pew, wdini*. a.-- a; ere-flit aKairnnt the alnauai of principal then
<br />remainin_+ unpaid under said note, and shall pruperk adjust env pa+memts which -hall have bwen made under t nl
<br />of paragraph Y.
<br />1, 9-hat the Mongagur wdl pay ground reran. ~~ze<, auessmenis. water races. ;md other eo+ernmrntal ur municipal
<br />charges, fines. nr impositions. Cor wtuch pn+v aloe h:u not hero made hrremheforr, and to drfauh thereat the Mortgagee may
<br />pay the same: and that the Muneagor +v;ll promptly deliver the atheist recetpls Iherel or to the ytnrtgager.
<br />_. 'the Atortgagur uill pay ell tags which may he levied upon the Mongaerr-, mtrrr,t m ,aiJ real rune and impr~ve-
<br />ments. and w-hick may hr levied upon this mortgage or the dept secured hereby Ihut ooh a• thc• extent Ihai ,uch i, nut prohihit-
<br />rd by brw ;tad only to the rxtrm that ,uch will not make this Ivan usuriausi. but excluding any uuume tax, ti[ate or Federal.
<br />imposed on Mortgagee, and will file the official receipt showing such payment w uh the Mungagce Cpon viohuion o(ihis under-
<br />taking, or if the Mongagur +s prohibited by any law now nr hereafter existing f tom paying the w hole or any portion of the afore-
<br />said taxes, or upon the renderne of any court decree pmhihiting the pay mein by the Mortgagor ur :my ,uch taxes, ur if such low
<br />or decree provides that ern' amount xr paid t+y the Mortgagor ,hall hr ueJiteJ on the mnngilge Jrht, the Mortgagee shall h:nr
<br />the right to give ninety days' written notice to the owner of the nuingagrd prrnu,n. reyuinng ihr p;rymrui of the nnrttgage
<br />dcM. If such notice he given, the said Jeh[ shall heconrr due. p:+yahle anJ cullecuhie al the evpvauon of sand ninety drys.
<br />6. That should hr Gtil to pay any sum or keep any .ovenam pn+c Wed for m ihi, Mortgage, then the Mortgagee, at its op-
<br />tion, may pay or perform the same. and all expendnures a+ made shall he :IJJed u+ the pnneip:J ,um ow mg on the above note.
<br />,hall be secured hereby. and shall bear mterret at the rate act forth in ihr smd note. until paid.
<br />'. That he hereby assigns, vansfcr, and sea u+er w the Mungagce to he applied toward the payment ul the note amt ell
<br />sums secured hereby in case of a default 9r the prrflmnance of any of the items anJ conditions of the, Mortgage +rr Ihr ,aui
<br />note. all the rents, revenues and income to hr derivrJ from the mortgaged prenuses diving ,uch umr as the nnntgage inJchted-
<br />nrss shall remain unpaid[ and the Mortgagee obeli have power to ;tppoim any agent or :+genta it may Jesirr tot the purpose of
<br />repairing said premises anJ of renting the s;une and collecting ihr rents, rrvenurs anJ manse, .InJ it nrq p;p• aut of said Irv
<br />comes eII expenses of repairing said prenuses and nceeasary conumsstuns ar,d expenses incurred m rrnung anu managing the
<br />same and of collecting rentals therefrom: the balance remaining, d any, ro br applied toward the discharge at .,ud mongagr
<br />indebtedness.
<br />g. 'that he will keep the improvements now existing or hereafter erected on the nwngageJ property, Insured as may hr
<br />required from time to time by the Martgager against Inns by fire and other haz:aJs, cu,ualtics anJ canlingencirs in such
<br />amounts and for such periods as maY he required by the Mortgagee ;md w dl p:rv pnnnpl is-,when due, any premiums on such
<br />insurance provision for payment of which has not been made hereinbe(ure. All mwruuce ,hall hr earned in unnp;miro ap-
<br />proved by the V1urtgager and the politic: and renewals thereof shall hr hrlJ by the Aiongagec and hose attuchc•d thereto lo„
<br />payable clauses in favor of and in form acceptable to the Mungagce. In c•vrm of Ios, Mortgagor wdl give unnre+h:ur noucr Uv
<br />mail to the Martgagee, who may make proof of loss it nut made prom ptir M :\krctgagor, anJ each insurance company coin
<br />cerned is hereby authorized anJ dirraed «r make payment for such loan directly to the Murtgager instead ut to the Mungagor
<br />and the Mungagce jointly, and the insurance proceeds. ur any parr therroL may he applied by the Atortgagce al It. upuon either
<br />tp the reduction of the indrhtednrss hereby secured or to the resu,rauon or repair of ihr. proprrtf dune grd In r+rm of fnrrclo-
<br />vvr o(ihis mortgage or ocher transfer of title [u the mortgaged pruprny yr extmguishmeni of ilre uldehieJ nr,. ,rcun•J hereby,
<br />al! right, title and interest of the Mortgagt r in +tnJ to any incur m~~e policies then in fore ,t ;di I',I,~ to Ihr rush+, •r or tran[rr
<br />9. That as additional and collateral security fur the puymrm of the note drscnL+ed. :mJ .JI sum, to become clue under tors
<br />mortgage, ihi• "rviortgagur hereby :signs to the Mortgagee ail profits, revenues. roy;dties. ughis and hcurhn .~ suing L-~ the
<br />Mortgagor tinder any and all oil and gas leases un said premises, with the riehi ro rcrrivr:md rc<elpi ter the sane and apply
<br />them «+ said indebtedness as well before as after default in the conditiam of flies mortgage .mJ the Mortgagee mar drmanJ. cur
<br />for and recuv er any such payments when due and payable, but ,hall nut he reyuurJ w n+ Jo. I-hl, :usrgnmem I, to In r'nu uate
<br />anJ become null and voiJ upon release of this mortgage.
<br />r rlr, ataarn It i r-,.
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