|
i ~r.,.R,>~, ,:
<br />81- t)U''2i~
<br />{1) month prior to its due. date the annual mortgage insurance preruium in order to provide such holder
<br />wiM funds Ea pay sash premium to the Secretary n€ Housing and Urhan Ikreioprtttnt pursuant to the
<br />;National Housing Act, as amended, aril appticab#e Regulatitms thereunder; or
<br />{fi} if and so lttttg as said ttfrte of even date and this irtstrutttent are held by the Secretary of Housing and
<br />Urban Develtrpment, a rnonthly charge (#n t#eu cj a rrtort~e #rtsgzrance lrnrtr#um/ which shall be in an
<br />amount aqua} to erne-hvetfth I.i r`t «) of one-half {I j2) per !xntum of the avoragr outstanding balance
<br />dot un the note computed without taking into account dt#inquenues or ptepaytnenu:
<br />{b} A stzrff equal to thx @rtrnnd rents, iC any. next due, plus the premiums that wrist [text beeom¢ dtf¢ and pa}•ahte on
<br />poiicits of sue and other hazard insurance crnering khe martgaged property, plus taxes and assessments next due
<br />nn the marrge~d property /al! es esrimared by rhY :ifcvtgfrKee/ i¢ss all sums a#rtady paid therefor divided by the
<br />number tu' months to a#apse be#'ore one month prsar to the date when such ¢round rents, premiums, rases and
<br />assesarnents wi#i becortia detittqurnt, such wins to #sr held by Mortgages in trust to pay said grtaind rents, prz-
<br />rnitmn, taxes acid special assasartents: attd
<br />{c) Ail paymenn mentioned in *.hr two preceding subsections of this paragraph and aU payments ro be made utsd¢r
<br />the Harr secured leerily shai# br added tuKettet,:utd the aggr¢caee amount shereaf shall be paid by th¢ Martgagor
<br />each march in a singlt payment to art epplxd by Fhe Mortgagee to the fallowing items in the order sit forth:
<br />(t} prrmittm charges snider the s,ntrart .:f insurasstr wnt the Secretary• of Housing and Urhan [kvrlaptnent,
<br />e:r tnanthiy charm fdt: lii;• ::/ rrt.rrr~•Rr• t:irur..r:er;rrrrnitrntr, as the rase may ire;
<br />{Ill graund rents. tases..rssess:nents. Lire and :,thee herald insurance premiums;
<br />fill) interest on the note srtu[rd hcsehv, and
<br />ifVi amorrzattan ut the prtattpai of surd natr-
<br />.iny ~icierx:y in the amount of arts such a~trstratt monthly payrnent shalt. artless rnadr grwd try the Mort-
<br />gaitur prior to the due daft r+f t#tr next su:h ;^a:r-r=>,:t. _..::ststutr an rsrnt ui .;etau:t ;trader this mortgage. 1'ite
<br />Mortgagee rnat eulltri a ",arc rfsatase" ntst to cs,ert y~.:et -ants t4Q} ,'nr each defter #5# 1,et eaa•h pagmrnt mote
<br />than f#ftetn f 15) da}s m area: to torz•t ifte ,.°arra rx;*f^n~r .ar4:,~ke;i t_r, haad;tng u:::tnqueni payments.
<br />::. Tltu if tlrt• wtal of die pa}tut•ifi.~ made t} the lMrt>~arnr under ' _ „# paragraph '_' pmctedintc r:hall exceed
<br />the aasount of pasmertt> actu~~lt nadr* tt the }krrigaeea° #or rt<wred rrnt~, tasce~ and tr-~r•.+~ment~ +.r ih~urancc prr-
<br />mitfaw. a_" the ,°s.=r ma} h«..uth rare~s. rf the ?vat :a svsrc•ns..tt ttte optttrst of the ~rtgagar. •:Ital! hr :redittd by
<br />thc° `tor•tgaftce on -ttb-~ragtettf pal~atret4.- to tn• made b} ihc• G1urtRaKtrr. or rr•#tmd~tl to the 1brt{Fttrar. (f. huwrs~<•r. the
<br />motttfil} patetrnt~ +nuie to the ~9ffrtga{gtx srralrr ~,# Srfr.turaph ' }srcrc^dinc shah not he aziffictent to prv ground
<br />rrmf, Ca.itet~ aed a>;+r•,.~aamt-,xt inssrirancr pretatum>. a,~ ttr• ,-a-,• mar hr•- uhrn the ~smr ~hvlf Frt•rnmr due ;ofd pat~-
<br />abfe. then the 5tartftaRas <hall pa} !er thr• t{r+ncaitr.^ an} ;smaunt rtrr•r^--art' to make up the df•tit•ienrc. on or treforp
<br />the dace whtyt pa}atant ref -.snh ,ymund rent-. rate-, a~_r=-><me•rrt- or :n=urnttct= pmmtum~ ;halt t,F dur•. df at env
<br />filar tlra: NettRagnr -hx#! tswtttar io the 4#nngat"*a, sn srrnrdanr [+ witft the prtras~;i,m, of tht• nntr .rr•„rtYt hereby.
<br />faH vayment ltd the r•tftire indeht~tr~~ rr-pre-«~ttrai thrrt=b}. the Sbnpar;rt^ -hatl.:n r omputin}; thr• amount at .such
<br />trtdetxedrfras. trtesfie nr fhr aXC,xint of the !Aartgag~x all jrtvaxxirc tna,tt uudcr the pra.cstons of t,raof paragrtph _'
<br />hesxwtf which the lfsertKager ha: rut 1tt=rtxasr• ob#igair=d u, ga} tr, rte ~rsn•tat} of tlttu-ing and ('roan 1}ccelaitxnent
<br />acrd aa} h7tlance rrmatning in th:• fund. _,ca umu#ait~a# :intl+-r ;he pearl-srsn> _,# : ~ . ut paragraph :' herr"tf. If there
<br />4hAtt br* a detauit unt#e+r an} ui ttr° pr:»r-i,.n- +rt :itsF ma,rtt~a¢r= rc•-ttitsnw to ;r truhlt=• -aln „f thv pn•mi~e> rovrrr`t#
<br />heref». tat if the lbrtrr• acrpfi rr« the prapr•rtt +aherwty al ter ,ia•#ault, t}tr ~turt~a¢er ~ha#1 appft, at the time of
<br />tbt• e'oitiraf'n.aypeYtt +r{ writ ptocredme4, or at rte itmr• the propr•rt} o-~ othrr:+s•a• art#uirr•t#. the I,atanre t#:en n-main-
<br />ing in the fur+dw at-rumukafrvt under - ` ~ :,t paragraph ' pmrer#inc: ar a ,-rrdit ~arn~t the amrrunt of principal tbr•n
<br />rt•maamng ttnpatd under -aid nuu•. and ,tai! frrnpr-rte .ut}u~t .rasa pa}m:•nt~ -which -hats hate ttt•en made under ~rl
<br />of prra$rxph _'. -
<br />1 ; ~ tit the 'ttortF;a~.~rt tit {sa. ;rr.n:uci rent,. '.aa~. :r,se+,tnens- ,~.,trr rasee. .•nti „thee •zt=arrnmentat +.,r mumctp-ni
<br />ctu,rgev_ ht1e,. ,sr ,~,r:z,ta:+ns. #ar which , >or-ream inn rut ~-r t. ;^.rs}r hrt;enhe#ure, aad to Srtautt thrtrasf the 4fortetttcr may
<br />tits [ter ~:rme. atlas thus the 44ort~,E-arr •+rs't fsrnnt;+tts urt+, re :ltc :,rfe; sn rrtrept- tttrrets,r >.s, ttr SiortKaKer. - -
<br />` Ella t{ortK~aKs,r writ Cat ilia teat, .rt»sah rrw. '+e asst-st ::,'u,a tau ;#==rt~vaer~^ <nttrrtt in .star real _+t::te and imprs+s~r~
<br />mrntt. and which man iY ir; tr„ ur?sas tts.:r:tsttr:ier .,t 'Ex ;:;•ht arrure,: `errs!,; :hat <,nt; !., the e xtetti Itat ,u. h t~ nut pn,hihtt-
<br />rd h} Pam „rtd a:_7ir to stir enteral !:as .uch -,tt as,t -±faAr shtw ;=x-~ - leer.-r„ .,»t e•.ctualsnK .tray tncamr test. Mate s*r Fedrrat.
<br />tmprr,rd on M<,rtg~re.:,rfat ^wt}t htr tree s,r#tcvai teartp; .,lase+tng ,uch pat tnrnt .. rah snr ~tz,rtK;agee. t'{xm atotatitrn sat alts utxfer-
<br />ta#trtfK.. err t# t#tr ltartt.aKa» n rt<•tt}vteu t*; ;ass lax mass ,-....'^.err::dtrr ~ a„srssg trarsxs r:ar trig .ter wtrar:r e.r t;n- ns.rrik-=n of the aforr-
<br />said taus. <!r ssprm the rr rtdrrtnK <+f :rnc .:Dora ilrrrer prs=hshsttng ire p;e s me rat by 2tr x#rr:tgtKtu or .sna +uch cares. nr ii cult iav,
<br />a»draee pea f~idts that an} smrrunt s> p=aid hs the Sis:r tg;,g..r =hail Hr •. rralstrd .+n the rnartgage drbt_ the !~#ort Kssgrr ,ftstl have
<br />the rtgtfr to Kta~r tuutxis- a1a3,' ++ftiirn tx:ts<r t ttK =•xnes :... *hr ms,rtg:rgrd rein„ee. tzqutnnK tiu pap-mint ,.t the mortgage
<br />ak#rt. ## Guth erutttr #+r gstrn, the ,ard +trht ,hut~r,rrsrntr slue' ;savat+lt :end r.s[IecntrPr ::t ire rtpsratum ct ,asd nsnrts day.-
<br />[,. Ttxat .roach{ he fuel to ~} tiny ,um au keep :fns sc,sereant prs*vrdrd ter to €hts S#cutitaKr. theft the ~#rxtgauer. sat its __, -
<br />tiutt, mas pati ate trexfxarrn [hr -,arr~, send a!# ext+cndttwr• ass maasr •it;r_ft hr =ctded tc: t#!r prmctpal sum a*tv-fns; s,n the abtfve near.
<br />:haft #+r src3trrd iiercLTt. enct shalt hear tratrrr5t ~t the rate +rt forth sn rte ,„,tat note. antis {+aad-
<br />ftvst lie htref+} asaiarix, ttansftrs acrd <ris snrr to for ir»ti£aynrr. ta= ise app#ird tos~ard the payrnrnt s:f ttr Hutt end ell
<br />sutras xectn'a^d #trrti+}- in sett ~=t a driau-#f in the iTerf.:rmanrr .rf anc o! the terms attd cnndititans of ttis ~tortgaae or t#tr ,rid
<br />note, alt the retttt. trttttues ;tncf intasme to it drntty #rorn the nn>rtgagrd prcntt.es .luring tutu same as the nttxtp:ttrc indehtrd-
<br />t~at !c{fatf rcatun urt{raid: attd ttte .'ftirrtg°trtrr ,tutu has~r ptr>«et k: apparent ens agent ar axrms it map etr:strr for the purpa,t arf
<br />t:trid pnetnises used of aerating t#fc ,umr :tnd catitrcttrtq the rent[. rrnrnura ;ttsd tsrccuitt..trtd it ma} pa. arut rat .aid in-
<br />sau€tea rdt sapsn~s <tf rrpatrtrtp said premises and n~:eassxn x <.>rtmi>.cnsns user r><pensrs incturrd lit renttrtg and man:tgtnK Ilse
<br />tam ss#.cas#3e%tingr>C-nta# t#terefrttrtr, the traz rem;eanir€g. tt ;ant. tas he apptud reward the d€scit:trae of teat mtrrtgagr
<br />itit3ef+teifrptms.
<br />h. '`$i tfe wed krsep the tfrpxaveirums rare txi+tint au trrrea#ter erected ern tht nmrtga~td pttrprrty. tnaurrd as uriiy lee
<br />rrt{utFed Erroll tisfi^r ixt !serer h} tom. ?a4etrtgagrr against +ata by r'ue .anal ,rihet #atards. casiraitits attd cottisngrncit. in +uch
<br />» anti leer periods as raaY he required by for kft»ityagta grad rril# pay- prumfitl}. whro-dur, sn} l+remium+ on such
<br />pttrvitr{arfde~r t~veasrttt-of avf~h rtes rxtf #rrcn tttadr t>trritr#trttrrc ~## tnurrttnce [.haft he rat rrrd m ~trm{ranres ap-
<br />protrd by the !~xtgr atld the pates; atxt rtNrwais [hrrresf shalt t*e ?tr#d by rtrr 34ortKaKrr atilt have atsattrd t#trrrt.r Son;
<br />payafde clauses ra laver aa# and in form a%ceptatrlt tzz the Mcutgager. In rsent tr# foss ~lcxtgaKtx sn'i[J Kt.r immediate uoticr ht
<br />fsttrfi~f to ifgttr. rsrtur flay nsait~e prrrarf 6# lcsvs tf etas made trrarn pit} try ~tartFd+~'t, ttnd each tnsuranrr catrnpany n:n~
<br />cetttatd a ittetlE+y atfrt# :usef dirtctesf t;s tnaist p++yrntnt tar suc#t fttsa dieter!;. ic± rhr ~startgngcr ittt#aat# of t rt tht ?Nact~gctt
<br />xnd ti9e t~rft$~tetr mh. atfd the iaststancr prartCt#s_iu any part nc~rtxif, tnar he apptttd by she h{arty at it+uptnett rt[hrr
<br />to t11a +cttsertien of ttfit met #terrby esi~rered iys to #be r+tatrirxtiem ty ref #sar of cow firtsrperxpa#a'n•.pRed, #n want of fa+rertar-
<br />tusr~ set tRcs ntoett m' trthH ttandtt ri3 tick m the srttwtctt ptatprrty- in catingtrishturnt s*t t#tr setd¢t=tednrss erturrd hrrrbt.
<br />:df t tfha ae~dia#rrtt tt# t#tr takutttsgarr rn [tad trt tvir irtxsuana a p»hax~ titan m ta3rer tal# pasa is tt:e :sari heart +,r ttratttre
<br />~. `I`mo ~- - ~ ' ans~ ttsr»t s~.^twit} frrr r~r paysrtrnt cr# the rrztr :less=rttreci .rrtd el€ sitr,ts is, rrramr- due uttiirt t#tt,
<br />~,, t#tr ~ tratt#?y aa,t+gnrs fe, ti>yr ~r=Jtjr all {srrahts. rrvrttu~ rraEttr+. rigtts Bend trrtrebtt xecctuing to She
<br />'bbrart ttsa#rs aa} ~ td# azi afrd fiat tears stir taia# prernistt. »ith rile rtptftt tar rr:e,+r :.rats rrcrfpt flue iht .same ;rrtd struts.
<br />iHrna tq.raud ~t as weK t,rftrre ~ a#fi+at default its tht ecanattistutx,tf th4+s atsrttga>;rt. =:is_d the ?rtartgit{tee mar stcmand. stir
<br />t~F'1rt~~rYtK' tin=ts t!ayraent ar~i€rn due >ttyd ptrYU{~. t+lft aha#t sox fins rrytstrt^sf ~•- s.r etc+ .Thal attrgttttirnt is-tat termtrf»re-
<br />tz~sr arnt2 ~ 4wd tt{ rr!~Rre~r rat fbfs rtrtxrf;x
<br />tttrtr-~"ait2ltt ft 3'@}
<br />
|