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Sl.~i)(~ 1253 (i - month prior to its due date the annual mortgage insurance premium in order to provide such holder with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the Natiana! Nuusing Act, as amended, and applicable Regulations thereunder, or (IS} If and so Song as said note crf even date and this instrument arc held by the Secretary of Housing and Urban Development, a monthly charge .!in Nett of a mortgage insurance premium) which shall be fn an amount equal to one-twelfth (1112) at one-half' (1/2} per contain of the average outstanding balance due on the note computed without taking iota account delinquencies or prepayments: (b) A sum equal to the guund rents, if any, next due, plus the premiums that will next become due and payable on policies of lire and other hazard insurance covering the mortgaged property, plus €axes and assessments next due sin the mortgaged property jell ns estimated by the Mortgaged less all sums already paid therefor divided by the number of months ro elapse before one month pricer to the date when such grouna rents, premiums, taxes and assessments will become de{inquent, such sums to br held by Martgagee in trust to pay said ground rents, pre- miums, taxes and sperial assessments; and (c} Ail payments nrenttoned in the two preceding subsections of this paragraph and all payments to he made under the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor each month in a single payment to be applied by the Mortgagee to the following items in the order set forth: (I) premium charges under the contract of insurance with the Secretary of Housing and Uroan Deveiopnrent, or monthly charge /in lieu uj mrrrtgagr insurance premium/. as the case may be: (fl} ground rents, taxes. assessments. fire and other hazard insurance premiums: (lll) interest on [he note secured hereby; and (tV} amortization of the principal of said note. Any deficiency in the amount sit any such aggregate monthly payment shall, unless made good by the Mort- gagor prior to the due date of the next such payment. <::nsrtute an event of defeat[ under this mortgage. The Mortgagee may collect a "late charge" iiot-tu cztcred f„+.:r cents (1;{i ii,r each dollar (51 ! of each pa}•ment inure than fifteen 11') days in areas €o coverthe exfta t~tpetts~ nev,+ived rn handling delinquent payments. .3. That if the total of the payments made bq the Mortgagor under + ` + of paragraph ?preceding shall exceed the amount of payment actually made by the iMrtgxgee for t.~rtrund rent..., taxer and a==ersments or insurance pre- miums, a-: the ca.,e ma} be. such excess, if the lean is curcent, at the vpti~ of the ytortgagor, shall be credited by the -Iortaatter. an rubsequt•tet payments to be made trv the 1orgagor, cr refunded co fhe Mortgagor. !f, however. the monthly payment; made by the Mortgagor under l' 1 of paragraph _' preceding shall not tie sufficient to pay ground rent, taxer sad a.•tsrssments or insurance premiums. a.~ the t•a,e mat be. c.-hen the ~amr -hall become due and pay- able. then the Mortgagor ..=.hali pay to the Martga~*ee any :trnuunt necerran to make up the defic•ient•v, on or before the date whcrn patmwet of such ground rents, taxes. a-~ses-moot- ar in.-urance pn•mium4 that! be due. If at any time the 1lortga¢nr rha11 tender to the MortgaKee, in accordance with the port i=tun- of the note ~et•ured hereby. full payment of the entire indebtedness represented themby. the )tartgaget• -hall, in computing the amount of such indebtedtress, credit to the account of the Mortgagor all payments made under the provisions of (ui of paragraph ? hereof which flea ttortgager ha., not become obligated to pay to the :^ecretary of !lousing and urban Development and any balance remaining in the fund- at•cumulatrd under the peuvi-ions sit + ~.i of paragraph ~' hereof. If there sttafl br a default under an}- of the pmvirionr of this mortga#tr re-uitina in a ;rublic -ale of the premises cot-er,vl hereby. or if the 44ortgagee acquires the propertt otherwise after default. the tortgaor,hall upph- .et the time of tfre commencement of ~ueh proceedings, or at th+~ time the pnrpertt i~ otherwise acquimd. tfrr balance then remain- ing in the funds act•umulated underl~J of partgraph '_' prer•rdinK. a- a credit attain-t the amount of principal then remaining unpaid under .,aid note, and .-hall propertt adjust any paymen[s rshieh -hxll hate been made under /al of paragraph 2. ,. That the 1{ortgagur oil: pay ground renh, rate,.:rsse,smrnta, water rates. and other gusernmentai or municipal charges, hoes, or imposition,. fur which pruttsiun has nut tern made hereinhefurr, and io default thereof the ~tortgager ma} pay the wine: and that the htortgagur w ill pruneptty deliter the utficiai receipt. therefor a, the .Mortgagee. 5. 'fhe Sturtgagur wi0 pay cell taxes which may hr [ruled upon the Sinrtgagee , interest m ,aid real r,tate and improte- mrnis, and which inn} f,r lotted upon chi, mortgage .rr the doh[ ,coated hrrchy !hue on4y to the talent that +uch is nut prohibiF ed t+y law and only to the rttent that wch wr;l nut make this :uan uwnoust, but rtciudtng an} in.ome tax, Starr or Federal, imposed on Mortgagee, and wilt fife the otficta! receipt showrng,uch pay enrol wtih the ~tartgagrc. l: pun viulatiun of this under- taking, nr t:~x 'tariragtrr i, prrrhitritrd by ,;ny 'aw now ,+r hereafter etistmg from pay ire the u bete or any txrrtion of the afore- said taxes. <rr t:pan the - nlrring of ant ;Dort drercr pruhtbitmg the pat moot t,y the 41a±rigagor +r any such taxes. yr if such law to decree provides that :my amount sv paid by the ~tnrtgagur ,hall t+r :red+ted an the mortgage ;]eht. the 4lurtgager shaft have the right to give ninety days' written notice to th> ow nee of the mortgaged preme,rs, repairing the payment of [hr mortgage debt- If such mrtice he given. the card debt shall t+ecume due, patet±ir end coliecnt?le at the etpiratiun ot,aid ninety- days. 6. That shuu{d rte Fail tv pay any win sir keep ant c~,;•enart prutided form [his 4lurtlwgr, then the Mortgagee- at its op- tion, may pay tar perform the same. and all expenditures so mode sfull br added tv the principal sum owing on the above note. shalt br secured hereby, and shall bear interest at the rate ,et fc*rth fir. the ,aid note. until paid. 7. 'that he hereby assigns, transfers and sets utrr w the tturtgagce, to he applied toward the payment tri the note and alt sums secured lxreby in case of a default in the performance of any of the zeroes and conditions of this Mortgage or the said note. all flee rents, revenue. and income to he drrned from the mortgaged premr,es during such time ac the mortgage indebted- ness shaft remain unpaid: and the Mortgagee shai3 hart power to appoint any agent sir agents it may desire for the purpose of repairing said premises and of renting the same and collecting the rent+. revenue, and inevmr, and it may pay out of said in- comes all expenses at repairing .aid premises :end necessary cummissiuns and expenses recurred in renting and managing the sstne and of eallectirsg reneais tltrrefroen; the balance remaining, if any. to be applied toward the discharge of said mortgage indebtedness- B. That he will keep the improvements now existing or hereafter erected on the mortgaged property- insured as may tin required from time to ti.•ne by the !{ortgagee against lass by fire and ether hazards. casualties and ~ontingro~ies in such amottnrs and for such periods as may be required f:y the Murtgaerr and wdt say prornptiv. when due, any premiums sin ,uch insvrartcr pruvisiun for payrtrcnt of wh~h has trot peen made hereinbefore..AlI insurance shalt t>e carried in companies ap- pmvrd hp tt-ce Mortgagee and the policies and renewals thereof shall he held by the Mortgagee end hate attached thereW lus-, teayablr cieuxcs in favor of and in furor acceptable to the htartgagee. In event of loss 4turtgagtrr wilt gite immediate notice ht rstail to the Mortgagee, who miY make pruvf of loss if oat made prump[iv b}' Martgagur.:end each insurance company cun- etntrd is htrr:by suthori~d and directed to make payment tar such toss directly to the Mortgagee instead of to the Mortgagor atxl tier M1iortg~ec juituly, atul the insurance proceeds, ur env part thereof, ma} tx appbed by the Mortgagee sit its option richer txr the rrdtrcthrriof the itatrhtrtitrt+s_x hereby secured sir to the restoraticmur repair of the property danragrd _ ln•rvrnt of furrety- srrat of the morgage or rxlcer rranafrx of title to the nmregagrd property in ratinguistrmrm of the indrhirdoe„ ,reared hereby, :rff rgg#'st, title argl intercat of the htvtigrgor in acrd tU any insurarrcr po#iriea then in fans shalt nu,~ to the purcha,rr or granter. 't. ~)'hae a4 auditiutett# arut caltateraf xrcurtty fix tPx paymem of tits note describzd.:rtrd ati ,ums ta+ become fur under this enartgrrgr. tfee iMrxf{emgur lrfrrby assigns to tttr Mert;fite~.gce all prut?ts. rrvrnues, r=,yalhrs- rrglrts and f,enrfiT, aecntirrg to the Mcsttgagur utrdet ;rep and alt esi; creed {far Rases vn said premises, with the :fight to er.r+ e and receipt f„r the ,:tine :end apply ttecttt io taidinfsurdneht as well tsefvte ae after dctavlt inthc v,•,oditiun, t,f tht, ace.•rtc: ~c, .,nd ttrr Murty[agee m.:t demand. ,ue !sr ;rsul re_oser Ong etu# paymen€, wfrcn due and payable, hat sftxit rr,rt hr rrqutrr,i s,.~ ;,~ Err I-hrs assrgnmrnr r, t.a termmsur arpt tsrcrrrne turf and #c id aC,;n erlt::ate trl the,, nr.srfgage.