|
<br />(1 }month print to its dtrr dae¢ the annual mortgage inturance premium in arder Yo provide sttrft holder
<br />watt fettids tss pey ptcrnium to Bic Secretary of F3auatrsg atul iJrban Heveloptzt¢rtt puratant to the
<br />Natiarta! 4l~oreain8 ,tcf, as amended, and applicable ltegutatitms thereunder; or
<br />(~? Ef atttf sn ttxgq as said note of date and this instrnmrrtt are held by the Secretary of Housing and
<br />-'~tt.msi'°°.-foi~'~t. a`~.wu.s.~ 'ui`args- ~.~{Y't. ia,~u`-•nr3r+~'~.-'+~rit'P j3~i'AipAtj-WifiCh Sh$Ifi ~r frt ~rl
<br />a+nount ems, to a~e.t~vetfth (f(f2) df am-half {f /~} tut c:rrttum of tare avrra~ autstanditta bafance
<br />due on the nnte ecnttpttted without ttrkirtg into at:caunt delinquencies or prepayments;
<br />(h} A aren't agt:ai rn dt+t ground ramie, if arty, next due, plus the premiums that wrll next Fxcome due and payable on
<br />of`fita-and odtrr hazard in~rrattt;e etrvcting [tie mortgaged property, plus texas and assrasmc=:•3 next due
<br />ttn dsa sruntd proper€y /vH is csr{m$rPrl by the .RltrrrgetRee,' lrss all sums already paid therefor divided by th¢
<br />nrrtaber o€ months to elapse 6efarr arx month prier to the date when such ground rents, premiums, cases and
<br />wid beetune delingtrertr, arch auras to be herd by Mortgages in trust to pay said ground rents, pre-
<br />- hunts. taxes artri sttasaaE attetrts; grid
<br />~c~ Aff`gagmenm mwmtiaenad irr the two precxding subs¢ctiorrs of this paragraph and all payments to tre made under
<br />tlu Hate secttted hrreby sJtafl be added eur~ttrrr, and the aggregate amount thereat shall rte paid by the MntYgagar
<br />each mrmth to a singl¢ payrrxnz to b¢ appt~d by the Mortgagee to the following items in thr order set faith:
<br />(I} premium chats under the contract of insurance with [he Sr•reiary of Hatuing and (:than Development,
<br />ar mrtnildy charge t{n flew tit tnort~ge irrsrararscr pr¢rrtiumt, as the case may be;
<br />+~dt) ~'itxtrtd rents, reuse, assesmnrnts, fire and sitter Itazacet inwrance pr~rniurns;
<br />t~# . inttttesi an ttte [tote secun:d hereby; and
<br />(JY} amnrtfzattttri of the prtncitiaE of said tmir.
<br />~rry ~ in the atrtaixtrt nfi any stub aggregate manthty payment shall. unfree madr good by the Mort-
<br />gagvr prior tts the dire da#r of the nrxt such paytneni, constitute an event of dr:fauit under lira morigagi;. Ttce
<br />may c€ttE~t a -`ta#¢ :;ttargc nut to rxsred ftrur :•rnrs t~tr} fir each dailaz f5t } of each payment male
<br />titan fifteen (t ~}:rays irr areas to ~~rlvrr the extra exp¢nse ~nvn7ved in handling definyuent payments.
<br />:l, 77iat if the toter of tke papesearts made hr dte 3inrtgagnr under , ~; of paraartptt ~' prerrdin~ shalt exceed
<br />~ atuuge* t,d l ~tataliv mark by the iittrtgtt;eee for esmrnd trvass. taxes and a.~~e-;5ments ur insurance pre-
<br />tait~, as itre eaee-mar- 6r. each PxCCY'S, i# dte tcxut is c:urrettt, a[ the opricxt of the Narrgagar, strait b¢ credited tsv
<br />the 1i~e rr+t ~ prtymt:tu5 ta be matte by the 1#urs~a¢t>r, nr mftmded to the 11ntYgapor, If, however. the
<br />mIy pay+eene:Y tamt3e 6y the !Mtxtgrtgex utid¢r t%+i of puragnph ' preceding shaft :ux 1te wfEcient to tray ground
<br />tes4 cases sad. ar,[~rxttntretiri or inwtraar¢ pmmiurrc:, ar true t~a.`e mas• tae when the game -.hall trrcnmu due and pay-
<br />ttJde, ~a the- No€tq yh>1t1 per is the itartgapre stir atsa,aunt nec~.~:u•y to make up the deftciettcv. on or before
<br />~ IraYtaettt tyF ~ts¢tr grnuitd rentz:. taxes, h =e~~ttreat-~ er in5urattciz pn-mietm.~ -halt tre due. tf at arty
<br />fitae tlbe Mers$agtar staff reader fat ttte NartgaKee, in accordance wit.§ the prr,,,i=fans of thr note .~exurcat heretrv,
<br />iii ~yar~c tt[Lfie €miire ind~tc~== r~tmsetsited th+~trby, ttte 1~srte.• :halt, in t=omputint; t#tr amount of .such
<br />s, d7edic trs [fie actsritot of tfre ~'lcwtyagar aft (xtytnents mad¢ utgfrr the t7rtpvisia:is cat ? ~r~ of paragraph ?
<br />ha'seet rhit3i the -has rat b~ntsr tttrlceated w pay to the '~vcretary o€ Tkw~iatp and t rbatt t]evetc,zr~-nt
<br />attd ;uty bafanca temairdog is ttt¢ funds :tt:c-umutausd under the gntvi~iwt.~ of i of paragraph " herwrf. tf [here
<br />~sff be a tfefauft under :uty crf the pittvi';ttxt- of the- ttntrtgagv msuilanG is ;t pubiir. -.tin of the prrmi=~- c~oxere>d
<br />tsittn±Rt±;, st tf tkc ~c at`tptitr±~ cflk property ntfttenvi~t after de#ault, tfre• yinrtestaee ytiaH itpp{v. at the time trf
<br />tfte t'etirt,~.nt ut sut~e prxttuedsn~. ru ai thY hate thn (trtry i> akhrrw€~- act;iiir*~•d, thc~ (tatarrce then remain-
<br />ing m dte fvmta srettnwiata+tl ceder ",: of pansr;ratth ' prec•eiine;, ;u a rrNdit :yKamwt the :unnuot nl' principal then
<br />rewuining utaQaid wrdrr ,:aid Holt, atxd ,halt property adfur-t arty payments watch -hal! hart ha~n madr uttder Ieei
<br />of pmrugragtt 'S.
<br />?•Taar thtr ~€.~rg~-c;r =`e;rt Ya: ~xc,und rcn[>, t:cxrs. ;tssesstnents. wat,r r;:tet.:md othv >{overnmentat ~>r municipal
<br />ctYrrg¢+, titre.. yr empusrt~trts_ far wttcctt pre*a rnis7n irav not hrrn mud¢ hrreinhefarr .red Fn drfau?t therruf thr 4tortgagre [nay
<br />pay [tie +ame. am{ [flat thr Yltntyaµnr ~rti! ^rvmp#iy cl¢tivrr rhr wTctai reectpte ;hereftar to the ~turtgaKee
<br />t. i'he ~€vssx wt3i p®r at? tasc+ ~+hwh ;tray a~ {zvim# etcn~n tftc Ltort~t~ee4 interest iu Maxi rret rntete and rmprove-
<br />m¢tns< and whirl m-ay hr ievted utxrn tttu mGrtyattc ice she d¢bt ;rcttrrd hrrehy that pmt}. to ttre extent ttt:tt +ucti is not prohibit-
<br />ed Et4 lsxa a~ craft' to the coca[ €ttat +sub wtiE [rat ntakc this ittan uwrixitrai. tsutexctudi[tg an }' income tat, Mate or Frdrral.
<br />t~rpY7Y¢ft ct'a ~iNt~- fit, .',N3d :yttt titC stir .3F~ftit,~i FEi:C-pt titfi}w'tng 181Gh j3di mCril watt thr ~.X'fartt~dgrr. I. THIn ~IGI:itHjil Uf ChIS nMtrP-
<br />trdcissg., ~ d th¢ Mot•tn is ;trcHhherrd by arv tau cx~.tx ,:r hrrraf[et ext.tintt form paying the whair err ny- portion of the afarr-
<br />sttitf taxes, +x' ttisea the rrrtttrrtitg cd any awr± d¢cree ta•uhibiuttg rirr pa}men[ by thr 4fcxtgagvt or any su.;h text,, Gr if Ouch taw
<br />cx decrcr tanrvitie~ rhea any atnoum su paid by the 4tan>Fattext shall be crrdttrd an the mcxtgage dtM, the lgrtrtgagee .hall have
<br />rtxc r~tt at geve tmntty day,' wrrtien cwtxr to the awrter ct[ the ;nartgtttted premiee>- reitttrring the payment of the murtgatre
<br />drill. H wash ttxH.uc 6c givrr„ tM sarti debt ,hart brc.tmr dur, r+t}att!¢ ;aid .oi{estihk at the rzpiratnm itf .aid mnrty days.
<br />A, TRai trfd 'tar taut to pap any ,um ~?r i:atp any ~Y.vrr;ant. provided cur in this 4farte, titre the ;WOrtirf'tK¢r, at itc ctp-
<br />[iKta, tasty pay tx psrfextu the xaene. arni art rxprrithturr< ~ made shat] ~ added to the princrpat sum awing an rht shove tint.
<br />it he secured fterebv. and siratf bear tterest st the tart set fttrtlr in rite raid torte, until peat.
<br />'. Tfiq! lKt ttm`ttity ~, aansfter4 and srt~t aver ttt the Mnrtttagce. ut br• appti¢d toward thr payment of the Hutt and all
<br />z~a stct~d try tilt t of a iitlhuit its th¢ ~rftmnance of zay of the terms artd condititrus of rltis M1tcxtgage or the raid
<br />Hula. a;i ttre xe~x, r¢vtemtes and it~rrm¢ to derived €rnm the marts prrrui+es dutirtg Stub titer as tht murt)<tgr indet±ttd-
<br />isrtac t tctna3n-~; artdttu ?44egir shad?tav¢ pawn zo appoint any agrrtt sqr ag¢nts it may dr+im far [rte purpose of
<br />~ sled of txtndrtg ttae:eame sad caltrcting the rents. rrvrnury andinwmr, and it may pa>' cwt cd said in-
<br />ail ez~eaear csf rte-saitt-~ ~,°-- ass e~~sart cvtnmisccx~tts and rEpena¢s itaeurred in renttrty, a~ trraoagtag thr
<br />SltaMe aced tt~ -. ruitraps ihrecfraint; - t s¢t: if any, to tre apptted tmvard the atscfrarcte itf +rtid mortgage
<br />R "t'i'a~ fpt avtf ~aA the his t~tw eaisseatt cx hrreafirr arectctt an ttte ttxxt~te+3 ptupert}, insured as rosy ~
<br />- --~ f~>~ ti t:~ ":a tt;c b'€.:~ „~it;st iivg $'r a¢ errs cttlser hazards. caactaTties amt ~.emtingerutirs in such
<br />a~0 fads tt~+ pesietb+. aa. fte requrated liq trot Nnrigager, and wdf pa> prtsmptlg. w#¢n oue. any premiums an such
<br />"-° ; ~ h F~ heen• xaradsa her-eiritiefsrx. ,~tt irtstuatarat theft itr currt¢ci in cnmpan~s ap.
<br />f'~*' by she ~ earl du a ate remewats itterr+,+f sltatf M: herd by tftr Wattg~rr attr# tuty¢ atrat'hrd ther¢to !n<s
<br />r'st~bic ::'at+r_.es, m farftu tat -dt ftxta ax€c~ptattla; to the llttttt. to rvtrrt of tttSs tttutgagitr Witt give immrdiatt nrnrce !?v
<br />tv 4#t ~<- tl~- t1atE Peeaaf~-4'f ~r.if- ttGt matte pturttptty t'y 'atarrtgrr~er. errs earn itwurancs curttpara} can-
<br />b toys, ~ ~kcced to m faayr~nt fat ru~h¢ dis¢ssiy m t#u'~Fnrt feud of rtx the "whmr
<br />trd t$c 'dset }, ,ypdtht »-¢ prryurmfs, .x ~z}' tit tiusetzf. rri;ty he applied b?` tftr ~ortg~er at rt; aptintt rdfur
<br />tY:eket,o~>,b€~i-~~-rS a x~r~os:r~u~'thaEtiaifatrcy.incvrn[:tffureck>-
<br />xuro~[ tip as etieeM tewtsliar ut t<r the rrnx+t, ~. erG~sfv in¢x ` ref th¢ it~ttNedtiCts sr*~uted htrehy.
<br />e:t rgtat- nits sari uttdaaxt d #fta id 'trt t a mar qtr tlstrr ~ force staait ;lass to ttte pur~haset ~>r granted.
<br />v. 7'arat st. a~ sad vaha-eraif spilt tt}r ffgr pJytna!ttt crf ttr- note dt:st;ti~:l. seen] sti sum" ria l±rs:csme dur tsteder Ihi+
<br />!ti'oiz tit¢ ~ q assign ttr [ter : .. a~ pryt{`its, ra+r~s, royatexs, rryr}rts :[std hrnrtiro accruing to ttx
<br />~~ tr~rr ~7 arYt3 rtif awti~ypea icasxax st%t pnraeniae!t, with the r~t to r¢ceivt anti ercctpt hx tir¢ came and agyrty'
<br />ttlpri. ixt .w4 at~tt~ttFttgsa #tt-+xth t#hi1+FNfk•arr a~f~t dsfauli is tfltt cnadaittats r>f ihsa- axl.~rtgaute. ;ttid the iltxt~iytat tea}- drt+tattd, .ur
<br />t sat:u~raar .nr+r wt:h 3r3getiatiia aa;~a ~d.t~fr,. trmt *iewfl tau tie rcrtuu¢d ~r us d.~ T7ttx ;r.ctµratternt crF ua t¢rminatr
<br />anQ tsri.,n~ rata »nd , c>wf watts#a t¢t~amtte isi tlt~ ;.
<br />!~itt)~~t~~At i~-fit
<br />
|