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<br />(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 Housing and Urban Development pursuant to the
<br />National Housing Act, as amended. and applicable Regulations thereunder: or
<br />(Ii) If arid 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 insurance premium/ which shall be in an
<br />amount equal to ene•twelfah f l/!"_) cf one-half {I/'_) 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 to 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 taxis grid assessments next due
<br />on the mortgaged property /art as cstr--mated by the :iferrt¢agee? !ess all sums already paid theret`or divided by the
<br />number rsf months to elapse before one month pricer to the date when such ground rents. premiwns. taxes and
<br />assessments will become delinquent, such sums to be ht;d t,y Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />ic} Ali payments mentioned in the rwu preceding suhsections of flits paragraph and ail payments to be made under
<br />the note secured hereby shall be added tugtther. and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to tse applied by the Mortgagee to the following Hems in the order set forth:
<br />fl} premium charges under the contact of insurance w~tth the Secretary ut Housing and Urban Development,
<br />or monthly charge (in lieu u(nwrtgage insurance premiurnl. as the case may ha:
<br />i It} ~uund rents, taxes, assessments, fire and other hazard insurance premiums;
<br />tllll interest un the note secured hereby,:md
<br />flvj amortization of the principal of said note.
<br />.4ny deficiency ir. the amount of any such aggregate manrhh~ paymen[ shall, unless mach good by the Mort-
<br />gagor prior to the due date of the next such payment. cxmsntuce an event .,t ,icfault under this mortgage. The
<br />Mortgagee may collect a "late charge" nut w exceed tour gents (4KI list each dollar (SI } of each payment more
<br />than t3fttxn (1 ~?days in areas to an'ar the extra <•r:pcnsr :nvnived in itanditng dehnqueni payments.
<br />:l. That if the total of the patrttent~ made 6r: the ~kxtgagur under r! of paragraph _' preceding ;hall exceed
<br />the a,~rsuni rsf pavmens:~ actus!ly made ba the \turt,,ager• for eround mnt~, rase- and ss~e.=-menu nr insurance pre-
<br />miums, a`~ the case mac be, -uch excess. if the loan is current, at the upuun of the Slottgagor, shall ise credited by
<br />the llongagee tin >ubsequent payments; w tx made by the \lort{;aear. ur refunded to [he tksrtgaguc. If, however, the
<br />rntsrtthl; paym:anti mtrle bV the Nortgagcx under r ` i of paragraph .'. preceding shall nut he sufficient to pav ground
<br />tEatt, tuxes and asstt5xment~ ar inwtranre premivma, a.. the ra_+~ may he. when the -ame -hall hecnmt• due and pay-
<br />able- thin the Nortgagur shall pav to the itongager any zrmrunt neces,san to make up the deficienrv. on or hefore
<br />the dote when payment of •tuc•h r_*round rent-. taxes, a^~e.~~mt•m- or in<ur:cnce prvrmium~ -troll be due. if ai anv
<br />time the llongagor +hafl tinder :n the 1lnrtgagee, in atrordattce ttttlt the pint i-ion- u{ thr• onto ~et•ured herebv.
<br />full payment of the entire indebtedne>- represented themby. tha• 1lrsrtgaprr• -hall, in x omputing the amount of ~ut•h
<br />intit:btedn+ecs, credit to the acctxtot of the Mortgagor .ill pavmrnts made urrder die pruersi<v;.< <,{ ::r; ,>{ paragraph
<br />hertYSf which the tiorxgageehtu rest Isecome obligated tri pay to the rerretary of liuu~ink :utd t rban Ikvek~pmrnt
<br />+nd a"v ~l>;nce eem:fittine in the fund, accumulated under the Inuv+-rim- of '' ' of paragraph '_' htvwrf. (f there
<br />shat! be a default under anv uF the provision- of thi- murtgngr re-airing in :+ public -ak• of the premr~e> cuvrre•d
<br />hereby, or if rite Mortgagee arrittires the prnpertt uthrrwi~r after dr•fauit, the lturtgagee -hall applt. at the time ul'
<br />the commeneernent of -itch pmcteding~. ,rr at the time the pruprn. r- osherA+-e ;:cyursrxi. the balance then trmain-
<br />ing in rite fund's a{•cumulated under •' of paragraph ' pmcrding, a.- ;+ crettit agotn-: the amount of pntx ip:tl then
<br />remaining unpaid under paid note. and -hall proprrlt adjust ant pav menu which -hall have been made under %.r)
<br />uF paragraph '!.
<br />2. That the 'Nurtguger wall pray exwnd rono. taar~. sae„rncnt,. x+ater r:ue..:=nd „the+ evtiernmrntai nr muninpal
<br />chargt+, tints, x+r impositions, for which prx,+iston has nx,t hero made hetetni>efure, and m drfauit thereof the Mortgagee may
<br />pay the sums: and that the ~Murtgaeor vc iii pn>mptl} drhs-tr rite nt$ual rrveipts therefor Pa the Murt_wgee.
<br />>. The Slurttayut wdt pay akl iase± which m.+y he totted -upon the Mcrtyagtr~~ mtere,t m .aid real est:ue and impn>ve-
<br />mems. anal whrsh may he lrv+td upon tht, mortgage or the debt secured htrehy abut only to the rateni that ,uch i+ nut pruhihit-
<br />ed by law and Dolt to tfie rvttnt treat wrh .viii nut make this loan usunuus+. but eveludmg any income taw. 5[ate ur Fedora(.
<br />impssstd an Mortgagee, and u ill file thc• otticml rrce+pt ,bus ing wch ps}-moot w ith the .Mungagee t ~ pore vinlatu,n of this under-
<br />tylting- <x if tht Murtg=rye+r +s prc,hebtted ny -my taw now ur hereafter existing from paying the whole ur any portion of the afore-
<br />+aid rases, ur u#xm the rendtring of an} coon decree pn+hituung the payment hg [he M<rtgage• +r ant- >uch rases. ur if such law
<br />or drerte proeiles that eny anwunt w paid t±r [ht Mortgagor .hart he acdued or, the tnungaYe debt-the .1lurtgagee shall have
<br />±ht nght tv g%ve ninety day,' urdien nuuce to the .xwner of the mortgaged premists. royuiring the payment of the mortgage
<br />rlehs. if wch testis: hr yjten, thz said dt#+t ..ttal€ become due. payable and cuilec[ibie at the txpuatiun of said ninety day,.
<br />f+. That should ht fait to pay :xny sum or keep an-. covenant prat-ided far to this'+iortgagt, then tht ~iortgagec, at ils uF-
<br />tiun. matt pay «r perfurtn tht ,ame..,nd sl! e vpenduvres ~« made sha?I he added ns she principal cum owing un the at+ott note,
<br />shalt k+e stcra7ed hereby. and shalt tzar interest at the rate set f<xth in the said note. until paid.
<br />?. Thai ht htrehy assigns. trans#ers anti "t, „vrr [u the ~furzgager, to he applied toward the payment of the note vnd all
<br />-sum. stx:ured tarebv in rase .,f a deiautt rr, the perforrnan.e <sf any of the terms and cxandiu<.ns <,f this tinrtgage or the ,aid
<br />rant. alt the rents, revenues and ini.ome t<+ be derived front the mortgaged premises dunng sui.h tune ~+, the mong:age indehted-
<br />rxss sltaU remain unpaid: erred the Slurtgagee shall trove power t,c appoint way agem or agents a may dtsire f:,r the purpose of
<br />rtprsiring said prtmists and of renting tht same and collecting the rent.. re+rnues and ma+mr, and it m:ry pay out of said in-
<br />comes a13 cxptnses of repairing said premises and necessary cummtssums end expensts irtcurrrd in renting and managing the
<br />same attd of eolieetirsg rentals therefrom; tht tralaccr remaining. if ;coy. to he applied inward the discharge of cold mung:rye
<br />itadebtttftgess.
<br />$. That Ire tt'if3 keep fix tmprnvemcn[s Hires existing or hereafter erected on the mongaged property. msureil ac may he
<br />retuired front tirnt [<, Eimt by [he hlortgaget :+gainst lass by Lire and other hazards. casuahres and cun[ingencies m .uch
<br />arrstsun#s rind for such periods :ts may fie required by tits 4lirngager and witl pay pnxmptty . when due, :.rev prtnttums .., sours
<br />insurancC ¢rt+vlsnm fnc-payment of which has riot rean madt htttint+efure, atf ineur:me:e _sh:il! he ::erne;l m vumpumr, ap-
<br />proved by tltt Mttrtgagrt and the twlrcits arid rentvvais thert<?F shat! tk held by the Mungalzee an<I hate ,+ttached thereto loss
<br />payai,ie ciausts i» fovea t+f and in form acteptabie to iht ;vior[gnsltre. 4n evem of los.; ~iortga~ar till give tmrneJiatt nuttr:e try
<br />tna~# to tt~ Mosig~ee. ,afio ma}' make prcax73 of toss if nest made prinrptiy t+y Mortgagor, and each insurance u,mp;eng tcm-
<br />e#`ttd itL hs[zby ~~tirtd arid dirg~ted to make paynrrnt for su~lt ins directly #o the Aiortgtget ins#tad +,f to rite 'tiurtga};ur
<br />ar#ti rite Msantet jointly. arr#i rite insuta»ce psusetds. or an} part thereof, may be appticd t,y the lfunyagve nt u, opuun tither
<br />to the rtstue#itx# ts€ the indthttdness here#+y sectutd or to the rratrtration tx repair of the pr<apcny darn aged. In cvznt x•f fore: kr-
<br />c+afe.fid this mar#gr+~e tx taltet sransfer of title ua rht mongagtd property in extlttguishntent of the indefitedne„ ,rc arx ci hrrthy .
<br />all riglti. ti##t »rql interest' of the #ltxt~tg+:ts in arid t<=arty utsutanee p<*hrits thin to fr,rc~ ,trail pa's &, tttr put: ha,<-r .•r grantee
<br />~. 'fts;fit as x<idirusttai krsd c:a?ilateral vccuriiy i<rr the ,^,$yment txf the note xicv,rtf>r:l, .,nJ ,, ,urn, t.. i+€.ome ,luc• under tin,
<br />:rr.>xtyrga. tfar t'ilr_'<tsgagw ttereha asvtpns tx;r the 'oiurt~}tec :ill profits. re,tnur;- ;~+, ahsE ••. r;ght-, :,nJ he nrtit..~.c ruutg t« the
<br />r
<br />!4lextgdyt-~ u-rttler rfttp :xu.t txtl xnl af»J $ae feasts tin +:}id preratt~sc+, w lift tt>x riylat t,+ ta; r~x< -. •J rr<rtpt ?+*r the:.ante an<i anp;y
<br />ttS4'rAt 'ik sardsl itid€#ttrwa na weft Erefvr2 ks sfter J,~.fauit to the c~,ndin<>»s rri ai„s [t,+~+tt~agt. -ant fir :Morttragr<r m,at demand. ,ne
<br />tst atxul rs-scrau ,inp much tu;g nsc•nts wttr~n J+~ arid PaY'aftlc, bat ;hall at<+# t>d'rc+. urr•.i a. ... ,._ I~las a,s+gnrnent +e n. tctoun.ue
<br />v„<'=. zccr,zrta soil! ratx'l ,+nJ trlrc>tt re~ita.r ..x( rftrn nrorttiayt+,`.
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