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~}>_. 0043$ <br />(1) morsth prior to ifs due date [he annual mortgage insurance premtum in order to provide such holder <br />with funds to pay such premium to the Secretary of Housing and Urban Development nursuant to the <br />National Housing Act, as amended, and applicable Regulations thereunder. ar <br />(II) ff and 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 of a mortgage insumnce premium] which shall 6e in an <br />amount equal to one-twelfth (1112) of one-half (I/2) per centum of the average outstanding balance <br />due on the note computed without taking into accamtt delinquencies or prepayments; <br />(b) A sum equal tq the ground rents, if any, next due, plus the premiums [hat will next become due and payable an <br />policies of fire and other hazard insurance cmering the mortgaged property, plus taxes and assessments next due <br />on the mortgaged property /all as estimated by the ,'Nortgageel less all sums already oaid therefor ditddeG by tiro <br />number of months w 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 spacial assessments: and <br />(c) All payments mentioned in the twa 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 .-all he paid by the Mortgagor <br />each manth in a single payment to be applied by the Mortgagee ut the following items in the ardor set forth: <br />(1) premium charges under the contract of insurance w•rth the Secretary ai Hausing and Urban Lk.cetopment. <br />or monthly charge /in (feu aJ)nurtgage insurance prernfmre/, as the case may he; <br />([I) graund rents, taxes. assessments, ^rc and other hazard insurance premmms; <br />i III} iarerzsr an the note secured-hereby: and <br />([Yl amartization o(the principal of said note- <br />Any deficiency in the amount of any such aggregate nrunthiy payment shall, unless made good by the Mbrt- <br />gagor prior to the due date of the next such payment. caos[iuue an evem of default tinder this mortgage. The <br />htongagee may called a "lace charge° not to exceed b+ur cents (+fYi for each dollar (fil) ai each payment more <br />than fifteen (! 5) days in areas to cover the zxtra espouse involved in handling delinquent payments. <br />3. 'Chat if Lhe tatal of the payments made by the \iartgagor under !;=t nF paragraph l preceding shall exceed <br />the amount of payments actually made by the Storegagee far ground rents, rases and assessments or insurance pre- <br />miums, as the case may be, such excess, if the teen is current, at the option of the Mortgagor, shall he credited by <br />the lfortgagee an subsequent payments w be made by the Ihtrtgagor. or refunded ur the Mortgagor. If, however, the <br />monthly payments «tade by the ;Mortgagor under; b; of paragraph _' preceding shalt net be sufficient to pee ground <br />tone, faxes and assessments ar insuraru:e premiums. as the case may he. when the ..-ame shall bosoms due and pav- <br />abie. then the 1lortgagor shall pay to the Mortgagee any amount necessan' to mike up the delis+ienrs, un or hefore <br />the date when payment of such ground rent=. rase-, assessments or insurance pmmium> ;hall he due. If ai env <br />time the 1lnrtgagor shall tender to the 11ortKagee, in uccnrdanee ++itit rfre proci~ians of the naur secured here.bs. <br />full payment of the entire indebtedness represented therebc, the Mongakce -hail. to ,nmpuung the amount of such <br />indebtedness, i-redit to the account of the .4tnrrgagor till payments mate under the pror:sions ui : ~r of paragraph <br />hereof which >he Mortsagee hay !tut become ohtigtucd to pay to the xt~r„rwn *_rf lfau=lug rid f Than ?)e-etc pment <br />and anp~ balunee remaining in the (ands accumulated under rho pour-um~ +:f - ++i paragrauh "herra C. 1(there <br />shall be a dofault under any of the provisions of this mortgage ro-uttin_• m .+ pool n.- -aic• ,.f ihr• pmmire>~ vovrrrd <br />r _ ., r_ <br />herehy, ur i. the lktrtgagc!e acyui res the prnpart.v othorwi-o na. r ,.~faoit :he :+an_*•ei=o,~ -ir:iii :ytpi~.., the iirnc• ,~ <br />ttte t•ttmmencenrert trf -uch pmceedine~s, or at [ttu time the pmpen ., .,the•r:.:-:~ a~qu: r~ri. the ru-a( nrerthcn remain- <br />ine in the funds accumul aged under l r,i of purusraph '_' pnvoding, :r- ~ . md:t .:!am-t lire :cmoun: r+f pnncytal then <br />rematnmg rr~paid nndor nerd pup.- .end Thai! pn pt.rl+ ;.tdlu t ~-..: - --!.iri• _t, ~,ri ,. ,.. ,;,tt ,...ti... - <br />of pangtraph 2. . <br />d. l-t!at :hr 1h+rtgator •e!II par ,~n!und lent-+. Cries. ,!s<rsvnen+. •.. ~:a ufer •!ee~..:nu +n tier ~„n r:nme.^.!ai ,,. ,•::: n:cip;u <br />charges. fines. ,+r inrpusuions, for which provision has not been nt.:de irrremha f, re .nest m dei:urli ttruu+i Ure ll t,:µc mu <br />pay the sanx•: and that ihz Murt~gur w-ill promptly deliver [he odious rcce:pt, titrref nr to dtc Mort¢ugee <br />y. The Mortgagor will pay ;:II taxes which miry he levied upon the Mortgagee , ~ntere~[ m s:uJ te•,d r~u~te .end r.npro,r- <br />menu, and which may he leveed upon this mortgage or the debt secured hereby thin Dolt to the es[om that ~.:ch n not nromiat- <br />rd by taw and aniv to the zxtent that such will not make this loan mm~tom%, but excluding am~ :ncenre iza.:~t.ur +.r redr::ri. <br />imposed an 1lartgagee. and wilt file the nftiektl receipt shau~ine such payment with the Stortgagee- t ~pon a un;d:on of th:s nndzr- <br />taking, or if the Mortgagor s prohibited by any law now or hereafter existing from na}~ing [hr whole ur aria pun:un at the utorc- <br />said [axes, ur upon the rendering of ^n1' court deems erohibitine the pax=anent br :he Atorlgagar or um• ,ueu t~xr,- .~r :! -u<I: i:n, <br />ar decree provides that any amount su paid by the Atcrrtgagar shall be crrdned t;n the mortgage debt. the Mcngagee ,t.uil has e <br />the right to give ninety days written notice to [he uw nor of the nwngaged prenuses. requiring the pub moot of the mr+ng.agr <br />da=t+t. ff such notice hr given, the oaid debt shall bz.:amz due, payable and collectible at the eepiranon of said mncn da; <br />t;. ;'hat shaeld he fail to pay tiny vum ar keep acv cavenam pea. ided free in this alartg;rge. then the Mortgagee-..~r u, +~:+- <br />tien. m:+v pay ar perfarm the same, and all expenditures w needs nhuii he added to the principal ,um rim ing un d¢• ::i=uaa• no:e. <br />shall be secured hereby. and shall bear interest at the rate xt forth m the stud note, until Paul. <br />-. That tae herehy asrgns. transfer and sets arse W the A7ong.rgee, n+ he appLeJ to:+snl the pat rota! .u the nor am! ,I <br />sums secured herehy in ease of a default m the perfirrmat:cc of ::m of Ihz term. amt condnunt, ul ih:~ `.+.un;;:rgr ~,~ 'he ..uu <br />note. alt the rents, revs-noes and mrnmz to he denvcd from the mortgaged premrsr, during weir nine ;n the r,:uny::µr ~narbtea- <br />ntss shall remain anpaid; and the 4fortgugee shall have power to appoint env agem ar agents a inns Jrvtc tar me purpenr of <br />repairing said premises and of renting the same and collecting the rents, revenues ::rid intones. and n m:r~ par .+w ut .aid m- <br />cumes all expenses o[ repairing said prmmises :utd necesaury commissions and expenses uxwred m nvnmF. and managing the <br />same rind of cuitecting rentals therefrom; the balance remaining, if any, to tie appireJ [sward the aitscharge of su.. ..:+rieage <br />indebtedness. <br />N. 'I'ha! he wily keep the improvements now zxisting or hereal7cr crewed on the mungaged rmprru-. insured as may he <br />required from time in time 6y [tic Mortgagee ugamst lass t+y lire and other hazatJs, casualuaa and cooungenacs m snob <br />amounts and for such periods as may be-required by the hturtgagze and a dl par pnrmpth. a hen due. .nn ptzuuurus un such <br />insurance pt'ovisiun for payment of which has not been made• hereinbefare. Ali insurance shall he curried m anunanres ap- <br />proved by the Mortgagee and the palicies and renrwuls thereof shall he held by the Mortgagee and Naar attactied thereto in.a <br />payable clauses in favor of and in farm acceptable to the Mortgagee. in ea-em ui I:+ss 3lvrtgagan a, dl stave muneJiaie nonce t•> <br />mail io [he ?tfar[gagee, who may make proof at lost i[ nut madz prompdc by f iangagor. umi rash msuauxc umrpanv cmt- <br />cerned is hereby amhari red and directed w make payment tar such loss directly to thz Mortgagee instead of t,+ the Mortgagor <br />and the Mortgagee jointly. and [tee insurance proceeds, ur tiny pun thereof, may bc• applied by the Mortgagee at ns option either <br />to the reduction of the intiebtednes's hereby secured ar to the restoration or 2pmr of the pnrprtta damaerd. in zaem of fomcle- <br />sure of this mortgage or other transfer of title to the mortgaged property m extingurshmem of the mdehicdncs, scain•d hereby. <br />a!I right, title and interest of the Mnrt~gor in and to any insurance policies then in force shall pu„ to the purehax•r nr gruurz <br />9. That ns additional and ttdlatzral security far the payment of the note Jescnhed. ,:rid ail wins to become Joe under the <br />mortgage, the Mortgagor herehy a=_signs to the Mortgagee u!! prahts. revenues, rovahies- r:gh!s and benefits accru!ng m the <br />Murieagor under any and all oil and gas leases tin said pre maces, with rite tight n: rzcrrve and rcce~pi for the same :,rid apply <br />them to said indebtedness as well hefore as after tfefault in the conditian, of this murtgage.:ani the 94ortgagee may demand. ,tic <br />for and recover any such payments :often due and payable, tint shall rat hr requred su to da. This svgnmrnt is t+r iernunatz <br />and became null and void upon release of this mortgage. <br />