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<br />{t 1 month prior to its due date the annual mortgage insuramce premium in order to prnvide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the
<br />National Housing Rot, as amended. and appricabie Regulations thereunder; or
<br />(ll) if and sn tang as said note of even date and this instrument are held by the Secretary of Housing and
<br />*"d Urban Development, a monffity charge lip lieu of a mortgage insurance premrumJ whtcfi shat! be in an
<br />C`.P amnttnt equal to one-rwe_fth (1!12} of one-half (I j2) per cenium of the average outstanding balance
<br />a due on the note computed without takittg into account delinquencies or prepaytnents;
<br />iid tb} A sum equal to the ground rents, if any, next due, plus the premiums that will next become dur, and payable on
<br />;:d porkies of lire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />^.• nn the mortgaged property taE! as estimates t_r~ rF:e rSiortg¢gee) less all sums already paid therefor divided by the
<br />~. number of atonths to claps before .one month prior to the date when such ground rents, premiums, taxes and
<br />t^~/ assessments will become delinquent, such sums to be herd by Mortgagee in truss to pay said .ground rents. pre-
<br />mtums. taxes and specie! assessments; and
<br />f[) All payments mentioned in the ?wo preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall he added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a stogie payment to be applied by the Mortgagee to the following items in the order set forth:
<br />f t} p4emiwn charges under the contract of insurance with the Secretary of Housing and Urban Development,
<br />ar monthrv charge; in :ieu „r nrnrrgege insurance premiumJ, as the case may be;
<br />fi(i grnnnd rents, taxes. assessments, fire and other hazard insurance premiums;
<br />(1{i} interest on the note secured hereby: and
<br />(1Vj atnortization of the principal of"said once.
<br />Arty ;lefuiency in the amount of an}' such aggregate tnontrtly payment shelf, unless [Wade good by the Mort-
<br />s:tgor prior to the due date of the next such haymetit censtinue an event uI default under this mortgage. The
<br />Nort~gee may collect a "fate charge" not to exceed &x:r cents (~rZ) for each dolrar (31) of each payment more
<br />than t3fteen (! ~ i days in areas ro ~u.cr [rte extra •_~.l+ens~ in~c;ved ;n !:andling d.=hnquent payments.
<br />that if the total of the pat•ment= made by the itortQagor under +b? of paragraph `? preceding shalt exceed
<br />the amount of pasmwtt- arWaity made by the iiuttgaree for Ltarund rents, taxes and assessment.. or tnsurance pre-
<br />mium. a- the rs-t~ may he. -ueh ex~c4s, if thr loan i~ current, a[ the option of the Aiortgagor, hail be credited by
<br />the iiurtgatce can ~uhsequent payment- to tx~ made ht the itort~nr;~or..r: refunded to the Fiorigaeor, If, however, the
<br />month!} paymenta made by' the Mortgagor under ; L; of para¢raph 'preceding Shari not be sufficient to pac ground
<br />rent, taxes and a:ssessmen~: or in:=uranre pmmi,.ins.:t.~ the' ramie play he, when the =,amc .~hatt become thre and pay-
<br />able. then the 4inttgagor -=hail pay to thF~ liartgar~F~«' an} <Yrm+uni necf:ssarv to make up the deficiency. on or before
<br />the da€t' when payment of =ttch ~mYUnd ront~. rase=.:...>~r~~mcnis or in.=urance nremium~ =hall be clue. if at any
<br />t-tine the i~ortgaGnr =hat! tender so the linrtgagee, in a.. nrdanve Ytitir th-• prnxi=ions of the ^oie -scored heeby,
<br />f=_dt nav~ment of the. attire indeh#ednc, ~ rt'pmst'ntnd ChFret3t_ thte )lart¢:z~ee <huii. in t:omputing the amount of each
<br />tudeh€ednes~t:, i~redit to the account of thr 'tier?g:~;cr a''- i3avttentc ;Wade under the Frnristons pf tilt of paragraph Z
<br />heseol rvhich the 1{nrtgaf;er. ha:< not `.}eeome nhii~ated in tsar to thr= `rcrt•tart o` r'tnu-ing and (-'than Development
<br />and env trarance remaining in the funds acrumu;au'ti under the pr+,r i-ion> ,=f of pat~agrtph '~ hereof. tf there
<br />>huli fir a default under an} of the peosi: torn :,f ti;:< vonia~r re>uit:nk in a puirik >a1e nl' the premises covered
<br />herebt. nr if dtr~ iiortgagz--~ acquire- the prope•rt} other~i-e- after deaut4 the pkert,eai?.•t• =par: applt. at the time of
<br />the commencement of ~t:ch prnceedin>_=. +,r :a the trine the pr+pt'rty - other+ire a, yui:erd_ the balance then remain-
<br />ing in the funds arcumurated under' ; u.+ fr;tne~rnph : ,rrrr s•d4Rr'. =.- , wadi t : :, -t thr amnttnt iri principal then
<br />remaininti unpaid under =aid purr, ant -hall prnporfu _.itiurt gin: travment> .rift-h ~t;ait hares been made under ia;
<br />of pura„rapu '
<br />•€_ rh" ,la -iz-_~~arc+ ::ti ;- r :-ray -_ --- --~~,_ - ~_It=c~ - -:ter - ._ and -.the ec+r°ertunet4C1; or municipal
<br />::hary.e+. 'tae,. +?r ~mp,4,uu=n ~~"tr ~-r .:. , : ,,. -., . -r.;dr -.....:!~ciore.:.r:d :n deiauit ihrteot t!te Mortgagee may
<br />ay the ~„nte: ansS thrt the \l4rr,~.,gur n t~- ,.,+ , ,~tt, ~.r.. _... -,_... ~. t; t, thrreier to the 1lnrigatiee.
<br />'; h; ~:ay -n.=hr.r ... .. _.,. ~ :+.. r. `~-=„e~ -.,.,., ~_ c tt,. tyagte~, utteteat ut aaid real estate ::nd improve-
<br />ment,..t.duhi.,sma;hole x4 ., r.rt,r .rtp ~.=,c. __~_ .,_~r=i~utens}n=thcrxtentthat,uehisnotprohibit-
<br />cd bt 1au and otttx t+? ills s,?ent r*„ ;2 ~ , , ..: ~, '. ,.r..., .- , ., ^ut excluding ,toy income tut. Slate or Federal.
<br />irnp.;wed „n Mortgagee. and , :tt die ._ . ..., ..-. , . . -e,-t ; itf ~:,r -i, rtr,r_r:, l~, :n iu,anor. t,f thts u::der-
<br />utking. nr if tier Lie+rtgagt,r ., t r.., :E>, . ., ,R ,:,.-„ , , t r _. , c , t,..p rc".^,a C-at:ng the a hole er ~ n; ,.cation e-f the afore-
<br />,aia t:ac,..+r t:~,n the ;ono r..,~ r , .-r . _ .: -.:cr-cr , ,-.ah: 4t,#, :; ~ ~ ,; ~ocnt t=; thz ifc+~tgagt,r ar at:y .urh taxes. c+r if such law
<br />or 41e+:r1c pn7vtdr, that gyn.. .:,.t~t,n: ~ .~ 'S ~ r:.~r~~" •r,.: - ..e4tt,,~:.r thr mortgage debt, ihe'<4nrtgagee shalt have
<br />the rigrtt tz: sire pipet} d:: ,pea :ter. '+. t c , rtE y.ec prrrr,e-. •equiring ihr payment of the mivtgage
<br />detu. If such notice he utrrn ihr .uic: .th c r < fix„ ~ r_ .;tae ; 'e ,:;.~ ., leciibte :.! thr e,rtirutton al said ninety days.
<br />b. ~fhtit -houid he i-wr t ..a il., .. t._ ,. . i.:r dcu _ - -r. ih!s'vf„+tgaae, then the Ai ~rtgagce. at rls op-
<br />i3en. tld;N iTaF nr pei'f 0(m inC ,:. e. ! U:1+, wipe G+, U.L• -_, i~a~r hat: ht' ~u tied l,t Ihr i.r?n Clpa: ~,Um rt r4 mg,~n tits' arJOVe nOlr.
<br />chart fro secured tiercb~r .ind ,ha,+; iw.a~,ntrrc,t .~,t :`?< rya ~ - -;h :n the rata port. until paid.
<br />?. 'T?tat hr hereby :t.~t r .. ,.in~f r- ..nr: -. „ 'nz '+ -nigugee.:. ^e applied tnaurd tttr !#aymc:u of the rate and ail
<br />gu=ns secured hcrch•r ir. ~~. .., c do=~~~.[ t> =^e ~:, rm:,t. s - .. the terms ?;ad a?ndutur,, of it;i_ "•tarteage yr [he raid
<br />Wore ar6 the rrt;t, terse=uesr~no;n.~irr--#- , .~ , .,.,- he , t_t,gaged premF,rs ditang ~ „h :r:e .is 4e ,;tongage irrdehteti-
<br />ness ih.dr remain unpaid: ,,nit the tilt r tarsi :,, -' ~„r, c~ t~ .~pp.,inl .t::p ;gent or sgents it atay de_ t c ter the purpo,e .si
<br />r ,
<br />repairirtgsaid prrunss~s and t+f rrntmg the Dante :n•j :,+±'rcting t~~ -sot,. revenue. and ;nc`+rme. znd it rata} ,.t5 4rut et said m-
<br />cotnes-ail expen>~e+ t,t *epeuing sail rrrrr i.e, =rS -e~t.sssr ti - - ,:vny and expenses ittiurrsd in tenttnp„aat; managing the
<br />sane atul {+f cariecttng rrniat, therefrom: *.he balance remaining, it .Yr:y, to be applied toward the dischurgr of said mortgage
<br />fndehtedP,es~.
<br />tf. i#;ti tsr w~ifl keep the 4tn}+retemcnrs ao+a rzr,tiag rot hzrBatFer erected E+rt the marigaed property. insured t-, ma} t,e
<br />- ;toted frt. .., ~=.t t+y t!!e sort±• fit. ~ r +.. ?err :, r::i :~thrr ,. ~.4rd_. ,•u !t?e•• :.nt t ;:tinpt•nutr, :n such
<br />.u;toum>;tnd for ,u::hr}.erit:ds ac may he -equir<ri b ~ ths'atortgae;er a::u ~;i!! par prun+pt!, xt:en dos n: pri•init:in, t'n ,u.tt
<br />insurance prtrsision far papment of which has its[ F-een made hcr~inbetore..-,ti insurance shat` hs ,.r,-r=:d ir, :r,ntpanirs ap.
<br />pence tT!v the ~--it4tt~gra ~.,nd t#te- soit~,e - ztrd r: t ~ *?= that--t-f nx4i hr i:ef3 hr the 11 orFgag~ a -ed ~ t - t?a.rhed therrM ;,,.,
<br />psyahie clan e, in faros of ztid n form as:ccrtabie to the i4 ortleages. to event of !rt,~, 'vittttgagor wiiE glee :n,rnsdiate a,~tice r+r
<br />spun to the ~toti{gagee, ;c ho trsay narks Fraof ufi loss it nq? mace y~r<,maiy be ~itungar,rr. and e:;ch insurauca~ .vmpany :on-
<br />c~tted ia~ i~eby- zauthorized rind directed to nuke at. tnrrzs =tar ,ueh Inns dircctl.y ttr the Lrort~egee instead at [n the !sfortKagor
<br />;:nd t;re :>horig>~r siGntr~ . ate the :r<.urance prcxaeJs. t,r app- part the: e,if .mat he appEind bs the '+4ortgngec ..t uti o, non z-tiher
<br />tR> ttte redr.?~titsx crf.#Etr ttxiebicdne ;> her rho ,teetrcd or tai the resti+ration ar repair .:f the proncrtx darnnged. in e sent of t'nrecl,r-
<br />=u;e rr! t~s rn,:irtaage yr ether transfer of brie a+ tree me=.rtgrxged properr,~ to exhnguisi!ment rf the'4n,leb?ednrs..,erured hereby.
<br />:zlt r+gflt _ titer ~ ti:. i.,tcrest of tin t{ortg:,sot to anst ic; ens nnara~tcc , prat:t _ tiaen m rar.:e >nst3 r-.so- ='r :hr t _.CC.tuset r=r hrarttee-
<br />v ?h;;t = rvviui,:>rkti and _ +;fat<t-ti .s `o~ Nt,.° ,:;r,'rner;t,.f th,` Hate aescnbed, tend ~ d) =utr?s zq heu;te,r Sue ruder thts
<br />r. ~ ,t.
<br />,rte,*sga~- ['rte ?~tnrtgagxir hctebs .:,si,ens tr r,e virstgaget --S pr;!fits, rescuers>. -~4..;tiei, ,~p;ht .Ia;J lief ctu, ;4.srvtak to :he
<br />4fe=at~;agt:= rirxtt: art ~, +rt.; tlt a,. :..u ~a, flare •- °n -.cid ir`emt.t-. -:its.:he right t , :.. r:c.4< eau rr.:eattt f~,r ::te aatrn•• :ind arrpty
<br />tRt•Kt :r .ULf =ttdei*teaS?a s+„s rseif l+sfs.re „- ,~itcr .}eiaatt in i7+c ~-rtdiirsk+: of thts ^ 3. ita~i°. anti the 1flr7te,'attee nx#r t'.eaand, 4tie
<br />ts'~F aF.V ti '3.:'.r .n'r .tit tt } •Y: nbe {ii) it fiet# .t,N: =!ru i- -..I tl f1'. - ,L. '~.: A+t nt.- - i, -?.'{t:tr.-4 "~ !-F.t> lti --wn ~ 4^a 't (t, [[I+rnntitC
<br />.+rrat h+ea, =~*e °i;.+tl urta ~-„z:: ~#?vxn rs!ei;e ."I thi.,nsrt#aRU--
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