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$~.--~)ti.1258 (1) month prior to its due date the annual mortgage insurance premium in order to provide such holder whit funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the National Housing Act, as amended, and applicable Regulations thereunder: ur (i[I if and so long as said note of even date and this instrument are held by the Secretary of Housing and Urban Development, a monthly charge Rn lieu o(a mortgage insurance premium/ which shah be in an amount equal to one-twelfth {I t1?) ttf one-haft' {112} per centum of the average outstanding balance due .an the note computed without taking into account delinquencies or prepayments; (b) A sum equal to the ground repo, if any- next. due, plus the premiums that will next become due and payable on policks of foe and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property /o!f as estimated ht' the ;4fnrtgaRee/ less al] sums already paid therefor divided by the number of months to elapse ttefore one month prior to the date when such ground rents, premiums, taxes and assessments wilt become delinquent. such sums to be held by Mortgagee in trust to pay said ground rents, pre- miums, taxes and special assessments: and (c l All payrents rtcentioned m the two preceding subsections of this paragraph and alt payments to be made under the note secured hereby shall tee added together. and the aggregate amount thereof shall be paid by the Mortgagor eaeft month in a single payment to tee applied try the Mortgagee to the following items in the order set forth: (i) premium charges under the contract of insurance with die Secretary of Housing and Urban Uevelupment, or rnontldy charge (rn fieu q(r>?ongage insurance premium/, as the case may be; (It) ground rents. taxes. assessments, fire and other hazard insurance premiums; Uli) interest on the note secured hereby ::nd t1Y) amortization of the principal of sold nuts. Arty defickncy in the amount of any such aggregate monthly payment shall, urdess made good by the Mort- g~or prior so the due dart of the nett such pacment.:arstitute an event of default under this mortgage. The Mortgagerinay colket a "tale charge" not to exceed fr,ur cents (4tt) for each dollar (51) of each payment mare than fifteen f 1 S) days in areas to cover the extra cxpens_> tmnlved in handling delinquent payments. That if the total of the payments made by the ~iortg~at'or under if.l of paragraph '3 preceding shall exceed rim amount of pasmt€rrt=. actuatly made lay Grte tkartgagee for .round rents, taxes and a~=e==ment.~ or insurance pre- miuat`, a`' the r:t~:e may be, such excess, iF the loan is cumnt, at the option of the Mortgagor, shalt 6e credited by the ~hrrt;taXee tat ~ub.5equent payments to he made by the Mortgagor, or refunded to the Mortgagor. lf, however, the ^temthiv payrmnnt- made M• she 'Mortgagor under r,, of paragraph ,'. preceding shad no[ he sufficient [o pay ground tent, tgxe: and a_=res4mente or inwtrance premium, a= the ca-.«> ma} he :+h€>n the game -hall became due and pay- abip, thevt the Mortgagor :hail gay w the tiortgagee any amount n€>ce~~ars to make up the deficiency, an or before the dale tvhen payment of .:ueh ground rent-. tax€>=, :tom-e~-ment- or insurance pmmiums =hall be due. Hat any time the Mortgagor :hail tender to the Mortgagee, in accordance with the provi~ion~ ai the note secured hereby, foil payment of the entire indebtcdne~~ tepee-€•nted thereby, the lbrtgagee -hull, in romputins the amowrt of such tndebtedttess, credit to the account of the 'Mortgagor .rl! lr:r}ntrnts m:~ie ,ender ttte {xuvisions of i+r of paragraph 2 taer~f +vhch the Mort~a{;ee ha-~ not become obligated to pay to the `ecn>tan of llou-ing and l than Developmen[ and any .,alanre r. nK i.. the fund= accumulated antler th€, pruvi~iur~ +.F , . <tt para!•rtph 3 hereof. If there shall be a defau[t under any of the pnnrtao- +sf thi- rm€nCage remitintt in a public -ale of the premises coverec+ hembv, or if the liortgagee acyuite- the propertt uthrrwi-€• alter default. [h+• \kart;;agee -half apply, at the time of the commencement of .itch praceeding~, or at the time the pn:petty t- utherwt-«~ acquired, the balance then remain- ing in the funds accumulated under ' . tit naraxrapft ! peer «-din;._ r- a trrdit st~ain~t the amount of principal then remaining unpaid under -aid note, and ~itall pn«prriv adlu~t arty par ment- tthictr -hall have been made under /al of paragraph '_', " , +. That the MuriKagor will pay gr+mnd root,. taar~. :use.+ments. •.+ater tutee. anti other eovernmental ur mumetpal charges. hoe., ur impvoitiona. fur wheth pn+ttsion has nut been made hzremt+zturr..,nd to default thereof the Mortgagee miry pay the samz.:md that the Mortgagor Heil promptly- drover the.dhcra! receipts therefor to the Mortgagee. 5. 'Chz iiartgagur will pay all taxes sshich may he levied utxrn [he Mortgagee ~ uuere.t in utid real esntte and improve- ments. and which may t+e kviea upon thus mortgage or ihr deM +zcwad herrM thm only to the extent that wch is nut prohibit- ed by law and only io the rxiznt that ~u:h will nut make this loaa uaunousr. but evcluding any income tax. State ur Federal. impuszd tin Mortgagee. and wilt htz the official receipt >howing such pa} ment with the Liortgagee. Upon viuiatiun of this under- taking. nc if the Mortgagor is prohibited h} any law now or hereaftzr rxisunK from payinK the whole ur any portion of the afure- uid tuxes, ur upon thz rendering of any court detect prohibiting thz pay mrm h} the MonKagur army such taxes, or if such law or dtcrce ptuvides that an} amount su pard by rhz ~iortgagur .halt he :redited tin the mortgage debt, the ivturtgagee shall have the right to givz ninety days written notice to the owner <_( the mortgaged przmises, requirinK the payment of the murtgaKz debt. If such twtice M: given, the said debt shaIl txcomz due. payable and coilectihlz at the expiration of said ninety days. 6. That should he fait to pay any soot ur keep any cuveaar[t provided fur in this .'siurtgage, then the Mortgagee, a[ its op- tion, may pay ur pzrform the .:tme. and all rzpenditurzs ,u made ;hall he added t.+ the principal sum owinK tin the above note. shall be secured hzretsy. tend ..bast tsrar interest at the rate szt forth in the said note, until paid. 7. Tha[ he hereby assigns. transfzrs and sr[s uvzr to the Mortgagee. to hr applied toward the payment of the note and alt sums secured hzrzby in case of z; default in the performance of app of the terms and conditions of this Mortgage ur the acid note. all ihz ants, revenues and income to ise dzrived fn+m the mortgaged premises durinK .ueh time as the mortgage indebtcd- ness shall remain unpaid; and the 49uriKagre sh.tli have power to appoint any agent or agents it may dzsire fur the purpose of tepairing said premises and of r€n[ing the same :€nd cutlecting the rents, revenues and income, sod it ma}- pay- cut of said in- cumzs ail expenses of repairing said przmises and necessary eommissiuns and eapznses incurred in renting and managing [hz same amt of culkcting rentals therefrom: the tralattce remaining. if an}, to he applied toward the discharpre of said mortgage itxkbteduess. K. That he will keep the impravemrnts now zxisting tx hereutter errcred tin the mortgaged property. insured as may tee requited from time to time b} the Mortgagee against Eoss by firz and other hazards. casualties and contingencies in ,ueh amounts artd for ,ueh ~riuds as may tx required by the Aiurtgagez end will pay pnamptly, when due. any premiums on such insurance provision far payment of which has not been made hereinbetarz. Ail insurance shall tx carried in companizs ap- pruved by the Mortgagee and the puhcies and renewals therruf shall hz held by thz `ktortKagez and hate attached thzrrtu loss payable +:tauses in favor of and in farm accepiatale [a the 41uriKagez. In event of loss MurtKugor w ill Kivr immzdiate notice bs snail m the Murtg°sgze, who stay make proof of toss it nut made ptumptly by Lfurtgttgur. and each imurance cuntpany con- ~rard ire hzrzby authorized and directzd to make payment for such loss directly is thz Mortgagee instead of to the Murtgag€u urad thz 14forigtgyr juia(ly , acrd ttte insurance pusczzds, =x an} part thereof. ma} be apphed ley the MurtgaKze at its option zithzt to the €edurti4tt aS the indet€tedness hzrzby secure) ix to the restoration ur repair of rite pmpzrty damaged. In event of fvrrclu- +€tte cM2his ntartgage or tuber traasfzt of title lea thz mong:tgrd prnperty in zxlittguishmrnt tit the indehtedpzss secured hereby , aulriu, €ilkand itttzte&X of the Mortgagor in:+nd to an; insurance poGcir+ then in force ahalt pa,x to the purchaser ur grantez. '?. •i-ik'tta3 ,teiditiuttai a[ul c,,aflaterai srcunty fur thz payment of the Wore descritwd. antl all soar,. to beCsrtnr dim amder thix rrtart~ytc. ki7e ~itutizagur icereby ,€swigns to €hr Mvv'Igagze all profits, revcuuz..:uvatuz.. rrghU aad tsrachts .tccrtring [o the !s3iatgtt[}}M unskT ayky-rated at€oii aa~ gsx feaaz. on ;aid prem~~s, with tl>r rtghr to rrxna and receipt tut thz ,ante and apply thrntttisand irtdelsfednos as well hcfore;ts aftzr dtfautt in t#sz cundntams of this tncutKage, and the Mortitugee ma} drm;tnd. suz ftv and rt€.=v'cr any such payrrrEia witert duz and payable. tsar sh-ail nut he rryutrsd .+> !+; du. ibis .;sstgnmct:t n t++ termiuate amt bees=roe au10 a~ yr d tr~+n release of this marit_ tiL'U~$Z143M (979!