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<br />{I) month prior zo its due dace the annual mortgage insurance premium ir. order to provide such holder
<br />with funds to pay such premium to the Secretary of Hovsu+g and Urban Development pursuant to the
<br />'+iatiottat Housing Aci, as amended, and applicable Itegutatians thereunder: or
<br />{fI) If and sa long as said note of even date and this irt3trnrr+eni are held by the Secretary of Housing and
<br />Urban Bevefopmertt, a monthly charge lie lieu cf ¢ mnr7gage ixsumnce premiumi which shall be in an
<br />- amount squat to one-twelfth {I/lz) of onz-half Q/2) per centum of the average outstanding balance
<br />due on the note computed without taking-info account delinquencies or prepayments;
<br />(b) A sum equal to the ground rents, if any, next due, plus the premiums that wdl 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 the mortgaged properry %aT1 as estimated by the .Mcrrgageej less alt 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, tares and
<br />assessments will become delutquent, such sums to be Geld by Mortgagee in trust to pay said ground rents, pre-
<br />- miums, taxes and special assessments; and
<br />(c) Ali 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 tngether, and the aggregate amount thereof shall be paid by the Mortgagoc
<br />each momh -in a single payment to be applied by the Mangagee to the following items in the order set forth:
<br />(I) premium charges under the contract of insurance with the Secretary of Housing and Groan Development,
<br />ar monthly charge lin lieu of mortgage insuranre prentiunrl, as the case may be:
<br />(I!) ground rents, [axes. assessments, fire and other hazard insurance premiums;
<br />{HI) interest on the note secured hereby; and
<br />(IV) amortization of the principal of said note.
<br />Any deficiency in the amaunt of any such aggregate nwnthly payment shall, unless made goad by the Mort-
<br />gagar pear to 6he due date-of the next such payment, cu+utitute -- event of u'-fauli tinder this moRgagr. The
<br />Mortgagee may collect a "late charge" not to exceed four cents (gig! for each dollarl.51) of each payment more
<br />than fifteen i I S) days in areas to cover ihe extra expense involved in handling delinquent payments.
<br />,~. That if the tokal of the payments made by ihe AInrt~agor under r'hl rif paragraph 2 preceding shall t~xceed
<br />the amount of payments actually made he the itortgagee for erouad rents, taxes and a..-a~smer+t or insurance pro-
<br />miums., as the case may be, such excess, if the Loan is current, at the opti<m of the Margagor, shall be credited by
<br />the Mortgagee mt subaeyuent payments ur he made by the Mnngag+rr. or refunded to the. Martgargor, if, hawnver, the
<br />monthEy payments made by the Morgagor under thJ of paragraph 'preceding shall not be sufficient ur pay ground
<br />rent, taxes and aasessments or insurance premiums, as the ca:.r• may ho. whoa the same =hall become due and pay-
<br />able, then the Mortgagor shall pay [o the Mortgagee any amount necesnan• to make up the deficiency, on ar before
<br />the date when paymont of such ground rents. taxes, asaesaments or insurance premiums >hall Ire duv- tf at any
<br />Lime the 1~rtgagor shall tender to the Mortgagee, in accordance with the prnvisinns of the note secured hereby,
<br />full payment of the entire indebtedness represented the:ehv, the 1longagee shall. in computing ihe amount of -uch
<br />indebtedness, e~redit to the account of ihe_ Mortgagor alt payments made under the provisions of r,:i of paragraph _'
<br />hereof which the ~torfgagee has nut become obligated to pa\' to the ~rcretan~ of I)ouxing and urban Development
<br />and any balance remaining, in the funds accumulated under the provisions of :r;~i o£ paragraph !hereof- St them
<br />shalt bo a default under any of the provisions of flit= murtnane re=union in a pt:'~Iir sale++f the prsmi<c- ~~,.- and
<br />hereby, or if the Mortgagee acquires the properh~ oth •nsi-c after siefaalt. the \tonea_mc ,hall upplc. at t!-:: rime of
<br />the cammuncement of ::uch pmeeedings, nr cu the time the propenW i~ nthlr•rwi~e acquired, die ba6mr+• the-rr remain-
<br />in,r= in Ehe funds ac:eumulated trader (bi a(para~raph '-' prrceiine, a~ a r~redii :+eaimt ihe amount of principal then
<br />remaining unpaid under said Hate. and -hall properly ;;djra.st ens pr:.menus ::lilt-h -boil have b;rerr mad.• under r...
<br />trf pace; raph ~.
<br />.r ,Hai .., :rat;. bars ,r,.c..,,,t,,, r.,,c, , r rcr c~ -ern, c,.a+r ,.r -cu.:r
<br />:. That t;tr Sl;+rt r ::i I grrau., .-. -. - ..r- rinse u.rr
<br />i•harges. lines. or imposiliom. fur which prt,vr,ron ha. mq been n~ ~rJe he+ernhet,.rr.:md m +ic4ault thereat the 1l ortgugee r.,as
<br />pay the vanes: and that the Mortgagor wdl prompt! s del!rrt rhr .+tScn:i rrcrrpl, the; slur to the Mortgagee
<br />5. "the Mortgagor will pay all ta.xe. which mar lk tested upon nc~ St urty;agec~, interest in said reu! r,h:te amt rmprosr-
<br />ments, and which may he levied upon rhr, mortgage or the debt secured hrrcby~ that only w Use talent that such i, not prohi!*it-
<br />ed by law and only to the extent that ,uch well nut make the. loan u~unaus). but esdudin); un} income tar. State nr Frdrr.+l.
<br />imposed on Mortgagee, ;md will file the ottic+a! recc+pl ,6+~w mt; ,us tr p>n meat w ith the V origagea. Vpo^ violation o(thts under-
<br />taking, or if the Mortgagor is prohibited hs .vey lass nvs +n hrreaf[rt rvsung from puyinp ihe whole or arty portion of!he etere-
<br />s~rid lases. or upon tlx rendering of any curt Je. rec t~nrhiritinp the h;, •.ment by the It ortgxgar ormv such taxes. ur i(surh law
<br />ur decree provides that :mc anunun sa yard h} the 4lortg.t¢or Thal! hr rredued on the mortgage debt. the Llnrtgr,grr sh:41 bust
<br />the right tU g+ve ninrtY day s~ wr+t ten nutter 1.+ Ihr uw Her of the in„rtgsgrd prrm:~e>, rtyuiring rhr p.ry meat of the mortg;!gc
<br />debt. If such novice he gisen. the said debt sha?I become due. pay ~olr end arllrcut•lr .,t the r~piruiun of said ninety day s
<br />6. That shatdd he Pail to pa}= am mum or keep ens n~~ r=n not pens uled fat in +hts 9-turtgage, then the hfong.+gre, at its op-
<br />tion, may pa} or perform [he same, end ail esprndrturc, ~,o nr,,uc ,had he added ro !ire principal .+um uaing un the rebate n,ne.
<br />shall he secured hereby, and .hall hear ir+trre sr .a the rate ,rt fm th in the ,a:d note. until p,ud
<br />7. That he hereby assigns- uarnfrrs and ,rt, as er [c the 47ongugee, ru he ..ppirrd tun;+rJ the p,q nx•nt rr the note .:nci .Jt
<br />sums secured hereby ht c;,se of ;: default m the pertaunanss~ of any ,.i the term. .md .ondinum of [his Mortgage nr rhr ,a:d
<br />note, all the reels, revenue, and ntaxne to he dem ed fnntr the men t~cgrd prrmhes during wch nn,c ::, the near tg:+gr indebrrd-
<br />nrss shalt remain unpaid; and the Mortgagee ,hall hale puss er to appoint any agent or agent. it may drsrrc far the porpu,r of
<br />repairing said premises and i,f renting the same and collecting the rents, reeenucs and mcomr. crud rt may pay out of said ur-
<br />comes all expenses of repairing said premises and necessan commissions and rtprnses intoned m renting and managing the
<br />same and of collecting rentals thecefnxu: the balance remaining, if arty. to be applied toward the di-schar_e ul cud murtgatze
<br />indebtedness.
<br />8. 'Iba! he will keep the improvements now existing ur hrreatler erected un t!t+: nwrtga¢cd proper! y', rnmrred :r. nr,+y hr
<br />required from time to time by [he Mortgagee against Ions b} fire and other hagrrds. a+,ualue", and co+umgrnac.:n each
<br />amounts and for such peritxls as may he required by the Mortgagee and will pay pn,mpti}, when Jue. any premuuus un ,uch
<br />insurauco provision for payment of which has nut been made hcreinhrfore. Ail insurance shall hr earned in conrpanics ep-
<br />proved by the Mortgagee and the policies and renewals thereof +hall be held by the Mortgagee and hose attar bed thereto Toss
<br />payable clauses in facer of and in term ucceptahle to the Mortgagee. !n scent of lass rMort ~agnr will gist rmmediatr nonce he
<br />mail to dka. Mortgagee, whc, may make prccrf of loss if not made pa>mptly h5 .Martgayvx, and a~urh insurance awtpuny cnn-
<br />cerr+ad is hereby auitri,rizrd and directed to make pay-meat (or such loss directly- to the Mortgagee ^+strad of to the \toriyagor
<br />and the Mortgagee jointly. ;md the insuruce proceeds, or any purl thereof, nmy hr applied by d,r Rlo+rgagrc el ns opuon either
<br />to the-r=duetion of the indebtedness hereby secured or to the restoration ur repair of dre property damaged, In went of (ando-
<br />sure of this mortgage or other trmtsfer of title to the mortgaged properry in eziingui5hment of the lade Medrr,-, ,r: ured hareh, .
<br />ati right, ells and interest of the Mortgagor in and ro any insurance pohdes then in force ,ball p=u, to the purcha,rr ur gr.rntre.
<br />4- That as additional and a,Bxterai srcurhy for the payment of the ante drscnhed.:md all +unu to become der under thrs
<br />mortgage, the Mortgagor hereby assigns to the Mnrtgugec all pn,fin, rrscnucs, toy akin,, ngitrs oral hcnchn asn:mg a, rh=•
<br />A~oitgagur under any and all oil i;nd gas 3eases on ;aid premises, with the right t+, re.rivr :end receipt for ii ,.:re .end .+pi"y
<br />F!"Rm to acrid tn;l~t~'!n><ss as svci{ be[urr as effcr default in the curdihor„ cf this :nortgage. and the Mortgagee a,a~. iv=u:.;nd. we
<br />for and recover any inch payments when due and payable. but shall not hr royuircd ,o br +io-'I'bis assienmcar r, ro term inner
<br />and become null amt void upon release cf thk mortgage.
<br />rrU E39214ah9 Iv~ ir)i
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