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(I }month prior 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 Hauling and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder: or
<br />(If) If and sn long as said note cf even date and this instrument are held by the Secrewry of Housing and
<br />Urban ievelopment, a monthly charge (fn (feu of a mortgage insumnce premium/ which shall be in an
<br />amount equal to one-twelfth (l,/t2) of one-half fiJ2) per centum of the average outstandirig balance
<br />due on the note computed without taking into account delinquencies or prepayments;
<br />(b) A sum equal [q the 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 assessments next due
<br />on [he mortgaged property loll as esrimared by the :Nortgageel less all sums already paid therefor df»ded 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 of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shat! be paid by [he Mortgagor
<br />each month ht a single payment to be applied by the Mortgagee to the 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 /in lieu of mortgage insurance prerttium), as the case may be:
<br />(tl) ground rents. taxes, assessments, tTre and other hazard insurance premiums;
<br />(11O interest on the note secured hereby: and
<br />(tV) amortization of the principal of said note. -
<br />.Am deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mbrt-
<br />gagor prior to the due dace of the next such payment, a:ustitute an event of default under thfs mortgage. The
<br />Mortgagee may collect a "lace charge" not to exceed four cents (4y) for each dollar (Si l of each payment more
<br />than fifteen (1 ~ 1 Jays in areas to cover the extra expenso invt:rived in handling delinquent payments.
<br />;3. That if the total of the payments made by the Mortgagor under rhl of paragraph '? pncc>ding shall exceed
<br />the amount of payments actually made by the Mortgagee for ground rents, taxes and assessments or insurance pre-
<br />miums. as the case may be, such excess, iF [he loan is current. at the option of the Stor[gagor, shall be credited by
<br />the }}ortgagee on subsequent payments to be made by the }lortgagor. or refunded to the Mortgagor. If, however, the
<br />monthly payments made by the Mortgagor under Ihi of paragraph _' preceding shall not he sufficient to pay ground
<br />rent, taxes and assessments or insurance• premiums, us the r•:r>e nun 6e, when the same =hail become due and pay-
<br />able. then the ~MortgtlGor shall pay to the M1lortgagee any amount necessary to makr up the deficiency, on or before
<br />the date when payment of ouch ground rents. taxes, assossment= or insuranrc premiums shall be due. If at :my
<br />time the Mortgagor shall tender to the }iortgagee, in accordance with the provi.=_inns of rho note recured hereby.
<br />full payment of the entire indebtedne=~ repro>onied then by, the }lortr;ugec shall, in computing the amount of such
<br />indebtedness, credit to the accoun[ of the Mortgagor all payments made under the provisiovs of nc! of paragraph 2
<br />hereof which the 1lartgagee has not beeomo obligute•d to pay to the ~ecn>taq- of tlmtsigg :uul l'rban Dcr~elopment
<br />and any hal ante remaining in the (ands unvmulawd under the pmcisinns of ; !.; ut paragraph '_' herettf. If there
<br />shsll he a default under any of the prnvi=inn- ++F ihi~ nnrrtgugc rerul!it:g in a pulrlir -:d r• cf the premie= covered
<br />hereby, or if the }lur~r?agee ucqui tea rho potperh~ othtxwise nf3er tiufnult. the llorrugee -hull apple. at the titno of
<br />the commencement of loch pro ceedir.gs, or :u the time i.h:~ property i- ndterw i-e :tcquirt>d, iht• b;danv+• then remain-
<br />ing in the funds accumulated mtder rGi of paragraph :: preceding, us a .raid ^cuinst the amount ul' nn ncip~ then
<br />remaining unpaid under said note- ;md Khali prnperh adjust one p:q-moor- which -hall iutve been mudo nntier t,:!
<br />of paragraph :?,
<br />a. That the ?ior[gagor wdl pay ground rears, lases. assessment,. anlc•r ra (rc. .unl ether eu ce rn menial .v munrlpul
<br />charges. tine.. nr impositions, for which provision has not been made hen°utben,re. nmi m JeLndl thereof the \iongugee may
<br />pay the some: and that the Mortgagor will promptly deliver the otiicral receipt, therel:,r ;,:the'.Alortgugee-
<br />`. The ~iur(gugor will pay all lase-, which map he levied upon the 11r>rtgugee > inten•,r m •eid re;il Cslatr and unprovc•-
<br />mrnts. and which miry be Iewed upon this mortgage nr the deM centred her-r b, ri>w ,vth to Ihr rxtrm that -uch t, not pn>tnhit-
<br />rd by law and nnh~ to the extent that such will am make this loan uwnuu,l. but rxciudmg am mcontr wv. Starr or Pedrrul,
<br />imposed on Mortgagee, and will file the odicial recrtpt ,how mg wch pat nu•.ni ,vnh Ittr \lurtgagre. lpon r roiuuan of till, under-
<br />taking, or if the Mortgagor is prohihned by ^n} taw now or nerea(lrr e young from pay m,_ the a note or one portion of the :dorc-
<br />said tuxes, or upon the rendering of one coon tlerrre pn,hthuutg the car nmut hr mr eL>ngagor nrmv ,uch ru e,. or ri ,uch I:nr
<br />or decree provides that :my amount so pat) hr the Vlortgugor ,hail he crrdnea un tna> man cage debt. the Mortgagee ,hadl hate
<br />rhr right to grve ni neiy days' written noUtt W the stoner of Ihr nxutgugrd ptenu,r,. n•ywnng the patnren[ ,:1 rhr nuxrgagc
<br />drM. If sucft notice be given-Ihr ,aiJ debt shun become due. pap:thlr ;md c+rllrcuhlr :d the rsprraii,m ct s;uu nmrtt d;n,
<br />fi. That ,hould he fail ro pay any ,um ur keep any c<:oun:+nt pray uird f or m ihrs .1l orlauge. Ihen Ihr Atortr;agrr..d n-, ,•p-
<br />ron, map nay or perform the ,nett. ;md all cxprndimres sn mode ,h:ul he uJded lu rho ; nnnp:d ,um ou ing on the .~~,urc note.
<br />,hall he ,coved hereby, and ah:dl bear incerest ai the rate ,ct 1<rcth w the ,:ud ogle. until paid.
<br />7, 'fhal he hereby us~+ign9, tram(ers and srL, over le the Mougagre, m br nppirzJ tou:aei the pay nu•m ~•I the note :.ud .di
<br />wins secured hereby in case of a defauh in the perlorrn;utce :,i nor of the trim, :uul .ondrtions nt !hr, Atorrgnpe or lire ,.ud
<br />nott, all the reins, rrvenuc+:md tneonte to h~ derived from the nwrtguµed prcml,rs dunng .uch acne ::, Ihr :uortcagc rndehird-
<br />ness shall remain unpaid: and the if ortgagrr >hall have power m eppouu am agent ur agc•nn a new dr,nc mr tin' i•mpo,r ,•I
<br />repairing sail premixes and of rrnung the .sine ;utd collecting rhr reins. reernurx .unl income. and rt ;nary par nul of ,aid in-
<br />cume> all expenses .,{ err - rutg s:nd premises und access=try contain vans :md rspensrs maurr.i m rrnung .:nu ; racing tl:c
<br />same amd of cullecuog rrnlok therefrom; the balance remaining, if any. u, he applied luw;ud the disrauu gr ,~1 ~~..,., nuaigugr
<br />indebtedness.
<br />S. 'that he wdl keep the improvrmenls now exiwng ar henalicr erected on lire mot ig:tgcai properly. m,utrJ u. ;nay i+r
<br />required from erne to time by the Mortgagee against lose by lire end other harudn.:;nualtu•x ,rmi ~wnmgrnrie, m .uch
<br />amounts and for such periods as may t+r required by ihr .Mor[gagc•r :uul ill pay promptly, aiten due. .:m prennunn on .uch
<br />insurance pruvisiun for payment of which has nut hero made hereinhefore. >II insuranrc ,hall hr .. ar neJ m .omp;unc•, .q>-
<br />pruved by the Irtortgager und the puhcier and renewals thereof ,h;tll hr held M the ~-longagrr auJ bare ;tau: ind ihrtep+ In„
<br />payable clausex in favor of snot in form arceptahie ro the 4lurtgagrr, in greet of is „ yLv igagor aril ear unmeJram nourc hr
<br />mail to the Mortgagee, who may makr proof of loss if not ntadr promptly he Mougagar. amt cacti inwr:nrc >enyuup .,~u-
<br />cernrd is hereby authon~rd and directed to make puymem for such lo,s dirrct!v to the Mortgttgrr instead „( n+ the Mnngngur
<br />and the M1forlgagee jointly, :utd the insurance proceeds, or any part therrol, may tie :gg,iicd by rhr MortF;agrr nt It, .q+uan cuhcl
<br />to the reduction of the indebtedness hereby secure) aria the rrsiorniian nr repuu of the property damaged. In cr mu el laireln-
<br />sure oY this mortgage nr other transfer of title to the mortgaged property in rxpnguirhrneni of the indrMrdnr., .r. wed hrrrb, .
<br />all right. title anJ interest of the M1~lortgagor in and to any insurnce pofictrs then in force .h:dl pas, to the rm~h;nri :~r y:; antes
<br />y. 'Phut as additional and cogateral security tar rhr pay n?rot of rhr nose de>crrh, d..:nd ;ell >un,s u+ hrconrr :hrc w:dev r!u>
<br />mortgage, the Mortgagor hemby axcigns io the Mortgagee .dl protih, reernurs, ru_vuue,. rghP .:nd he nelu~ .,a:ruure i„ !tic
<br />M1tart~gor under any and all oil and g;u leases on s;rid premise+, wish Ihr nght nr rrcene •,nd rrcerpl for the >:unr coal :q>pir
<br />them to said indcbtednexc as well before as after default iu the conditions nl thy. mnrtg:~ce. .: mi the Mortgagee rna~ ,irnrand. ~::r
<br />far and recover anY such paymrms when due :md payable, het sitnll nut he requrn-J w r,+ do ;ltr, a,.ugnmrm r, in err nun.ur
<br />and become null and void upon release of this mortgage.
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