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<br />(1) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay wch premitmt co the Serresar,• of Housing and Urban Development purwant to the
<br />Natlanal Hotr~ttg Act, as amended, and appligble Regulations thereunder, or
<br />(EI) IE and ~ laetg as said note of even date and this instmrrter:t are held by the Secretary of Housing and
<br />Cfrban Dtve}srpment; a monthly charge 1fn lieu of a mortder6e ftrazrmree prcmiumj which shall (x in an
<br />anrouret equal to onctwetfth (Ifl2) n! me-half (1(2) per centum 9f the average qutstanding balance
<br />due on the note computed without takinginto account delinquencies or prepayments;
<br />~i A equal tv rlte ground tarts, if any, next due, plus the premiums that wilt next become due and payable on
<br />pt>bcaea of fire and other hazard nsurma .courting the martgaged property, plus taxes and assessmehts next due
<br />ore the mortgaged property (atP as esrimattvi h~. the Mortgggeej less all sutras already paid therefor divided by -the
<br />ntanber of tnontftx to efap~ before one month prior to the date when such ground rents. premiums, taxes and
<br />atraeiitmenu wilt rase{71€pt delinquent, such sums to be held by Mirrtgagee in crust to pay said ground rents, pre-
<br />miuma. -taxes arm sperm asesameats: and
<br />(c) All payments ttxtitiotted in the two preceding subsections of this paragraph acrd alJ payments to be made under
<br />the note secured hereby shall t>e added together, end the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagor to the following items in the order set forth:
<br />(E) prrmtttm chuges snider zFse contract of insurance with thr Secretary of }lousing and Urban Development,
<br />or monthly charge lfrr liraz rat murtrtrxe insurance premiturt/. as the case may he;
<br />fII) grtwnd rrnts. taxes, assessments, tge aitd odter hazard tnsurance premiums;
<br />fJtf) interest on the note sa aced hereby; and
<br />t!V) artsanizattoss of the principal of'said note.
<br />?4oy-d3M3ariertcy irr the amount of any such aggrrgate monthly payment stroll, unrest [Wade good by the Mort-
<br />gagor Pr"ar tv the aloe deer of the next such payment.::=;ustitute an even of default under this mortgage. The
<br />. rimy evltect a "late dtarge" not to exceed taco cents (.4i1) fix each rloliar tS1) ui each payment more
<br />than fifteen (ES) days in areas to cover the extra ; xnrttst~ mvolvesf in handlin¢ deiirtquent payments.
<br />5. That if the total 9t the paymmtis made by the ilnrts'agirr under ; t: i of paragraph 2 preredin¢ .hall exceed
<br />th>e atanunt of gtsyseeasts actually made by the'4iurigagee for tmwnd tort[-, tact=+ and a~ae..ment~ or insurvnce pte-
<br />taituatx, at; the tsars may be. ~t~ caress, if [he lcwtn is current, .tt the option of the Nortgagtx. shall be eredi[ed by
<br />the Mott~agrc am rtub_Sequeat payment.[ to be made by the lkrrt_aprrr. or refunded ut rite 5tortgagor. t`•, however, the
<br />mwetfily pay4aent•s rrradc by the Nor4gaRsx under t t of paragraph ' prrcedinq shall nut hr sufficit:nt rv pay griwnd
<br />rout, tattoo tta~ aasae=='*.wneresa 9r inNUtanre premium-, a5 6he ea-r mac itr whtHr the -amc hall Fierame due and pae•
<br />afsl+a, then she tbrtgtrgtu t+hall pay to rite lfortyttgee ens :uwunt Were--acv ru make up the deficienrp, nn or befom
<br />flee dsttc wha!n payioant of :+uch sMOUnd mnt~. to>e<, a~sr-±mertt= nr inroranrt• pn•mium~ :hall be due- if at arty
<br />time the Muftg~nr r~al1 tender to thF ~4ortgagee, in anrordane-e with the ern?.i?itm~ r+f the note secured hembv.
<br />foti payment of the erttim indebtedne-~r: rnpreKr>ntod thwe6y. ihr• lfor[gagee -=hall. in computing the amount of ~urh
<br />indtbtrtiirss, credit ro flee acctxsnt of the Mortgagor :alt prYmenis made under die proetsions of i:rj u( paragraph _'
<br />hereof whfth thsr ilortgnge4; has tart tsc+cnate obligated tar pay u+ the ~cretarv of (touainft and l:rbsn [)evotopmen[
<br />and env balance masaining in the ftu4d~ acrumutated under the prusi.~ton- of ' ;rat para>;rapfi rr herixtf. If khere
<br />arlsaH ere a default [order eras of the pruvrtiiutt-~ rrf ihi~ mnrtgave r.~=ullrnz :n :s pu#:lir Ogle of tht~ premi-see c°owered
<br />hcxe~, ~ ff the Nmtgager ar~irt~ the priaptrttr utherwivi* abet de#auk, the 1lorcgaget• ~haN a~tv, at the time of
<br />the rotnroeeca=tnesst of -~urh ptor€'@din$rx. or at the time the prvpert} iR crtherw tae ucquirnd, the Lafance then remain-
<br />ing{ in the fund4 arcuatulated under t?.1 0( paragraph o prrrerfinf;, a~ .t r~rc~dit against the amount of principal then
<br />remaining unpaid under ';aid rwte, and ..haft pmper{e~tl;r-t :m} pavmerrt~ which shalt ha.e hcti•n made under ial
<br />of paragraph 2,
<br />6_ That ttrr Mrrrtpast+~t will Pat gnaurtd rent- roars. ~s.e?sments. µatrr rain. rand t+ttrrr su+errtmem.tl err municipal
<br />charges, Anew, rtil'rmptxrtxrns. fur which nrnvrsxan has nut hero trade ftereinheforr, and in default thereof the ~forsgagee mas
<br />paY rite sonic, grad [!tat the Mt=rig; mar skttt Pr€trtsp;fy deii•,-tr tf~ t-rdiera-! tree is thrrefur to the 1forkgagre.
<br />s. -fhe'.Ifuflgagc>; wilt p:ra :dt [.toes whKh may tar leti-xd upon the lfnrtgagre~+ inters-st in xaid real rxtate and impruve-
<br />trxnte-sad w'hfch may f+e touted upon this mcwigagr .K the debt .rcurrd hereby that unty io the e?tent that +uch i~ not prohibit-
<br />ed tw law oral orals to etre rxtrnt that xa.•h wilt not ;Hake rats t+;an ussrrv*uxi, t+ut a?s:[udmg an:~ snu>me t,rx..titute or Federal.
<br />im}x>sed can Mmip~rer, and cavil Ale [hz oft'iciai receipt ehawrrrg .uch Payment esnh the 3furtFagrc. tlpcrn violarien of this under
<br />takrng. cu if the Nangaaor r. nrxahtititrd by ens taw now err hrrr.eftrr r?i.ung from pa} crag the whnir or €ra} ponion of the afore-
<br />said taxes, in' up9nt#sr rendering of any court tirctre pn+hitriti4tF t ~ pa.ment by tier tiftxigagor or any such t;rxes. or if such Iaw
<br />er dertrt ptrrvidrs iftat art} amuant w peed by the ifixtgtegtx shul# hr .~redittd ore the mnrtprr~r 3ebt, the ~tor[gagee shall have
<br />the right to town ninety days` written ncHtce ns the owner cal the nscrigu{^ex3 premiers. retiuiring the payment r+i the murtgag<`
<br />dtl+t. tf such [antler he given, t[x said drht shelf beciamr due. payable and cnJlectibk at the expiration t;f said ninety daps-
<br />h. 'iTtat shouhi he fat) Eo-gay am ct[m or krtp any cravenant Prottdrd fur m this MrxtC,igr. Shen the ht<utgager. at its up-
<br />[ion, [nay l+av tx perform the same, and all e.xpentfiturex so made shelf err added to the principal sum uw+ng can the attove note.
<br />shall ere sectrrrd Gme6y. and shit freer imzresr at the raft set f9rth.m the said note. untit.paid.
<br />+. 1`Nat he bereC±y assigns. transfers and xet5 or~r to tree :44orsgrt4er. w t?e applied toward [rte payrrtent vt the note and :ell
<br />yams sererrfsi htrr-hp in cast of a default in the prx'farmanae of sny cat ttir trans ~tnd cortditie+tt5 of this 4furtgage car ttir said
<br />noire, a# tits rents, rrvrnuex and iasEVrrrr to br drrivtd from the mortgaged premixes during sut:h time a, the ntnrtgage imkhted-
<br />naas-t-enwisrut~aid, and tttr Mttirtgagre shaft have power to appoint any agent or agents it man drstre fur the purpusr of
<br />rt'pairigg solid prem%ras and of ~en€ the came and tuilertmg the toms. resrnursand income. anti it map pay out uf' said in-
<br />txttaea al! tttiterrsrts of repairing attid fxemises ~ neccssaxy cvmmissivns and rxtxnses incurred in renting atr!E'managting the
<br />'u:aae and c~ coikr.`t renta#s tt~ref€nm: its halsaies remainisstt. if any. to br applied tv..aro the dicchsrgr of said mortgage
<br />~.
<br />d, •fhyt f€o ~ ktrkp the imttnrrvEpteriis rrttw eaistirgt9r hrreaftrr erected nn the rrtr:rtgttged property, insured as may t+r
<br />rr~nerd fraatt rime 49 [tent fw tftt bfttrigngre a~insr toss by tier and other hazard+. tasualtses and .:untingeneirs in such
<br />aoot~s snrd fttr stta$r peritsds as inay t±e tattooed fey fete Mor€tta a al will pay promptly, xvhrn due, any premiums on such
<br />goaatiian ftir paga€eett rrf ve'ttucclt has trot been-made hetefabeftrrr.:~tl insurance shalt fx curried in emnpante. ap-
<br />~ hfi ~ ~'t~e and tltc pnfic a~ venesraLs sbercaf sftatf be lard hp the ktungsgceo grid have attached thereto lees
<br />ptnpable'ckusea in Pavor 9f acrd in furrtn rrcceptabte in the MvrtgaRrr. In runt of krss Mwtgatzvr wilt gi~:r immediate txxtce by
<br />rt~f~ t6s ire: w+fMO +EUrY [Wake gtr~ 9f kiss if trot made pnrmptiS' C+y ~f9rtgagur.:tmd rash insurarkr i ompan} cun-
<br />irats~sd fefitottby atelhorizad sasddit~tatt to make paptnent for such toss directly to the >~ itistessd t:# to the lfrtregagttr
<br />r~ ~ jointly. andthe tmtsrartce-p[rrteads, ar eery part thereof. [nay hr applied C+y the k4ft-xtauitec. at ils+.ption either
<br />eert#ie t~a~( €4te ~s hsr+tg+}r saetirsd 9r M the rtstoratitae xN repair crf- [fie property dxmattrd. In went of furrrhr
<br />iuoe~rptptet ettlaitt• ittgsderal: ripe w tlbe mtrrtgsgtd fsrotxrty its rxtirgtuit;hment r>f the itstkC•irtfnrxn xrcurrd herrhv-
<br />alf r tie atstf inteerest ~ Utp M,art~tor m and io afry it€surarxe Mtilrescs then m f °rre r shirt pas. to st:r purchaser or gtramer.
<br />'R "fit ~ ~ and tmgrsteral ucfuity fstr €t€e psrmttst of tfte nc+st dt3tzit+td. and 311 ss3ms a+ berrxrmr due udder this
<br />tip tfta frttare~Cyy ttxass to flee ~-aN prohts, rEVe~rttes, royalties, ri~t:rv attd f+ettrfttl :tic-rrran}t ti? tf-x
<br />dCSrt; aatd~,rnv a~ tdt rstl adtt ltat fsarrea .tin ~yd' prst~tius. xith thee tigh€ to rr~esve attd rceript feu the ,attec xtaf ;sfrpfr
<br />them to t±u¢-f»rdrM~ss >n > ~64sst ~ after ~ ~-tIN! Cx7itdHN7ns t+f tC~ rrrrxtgags. and the 3tcnt mae~ dr;nand, 4ue
<br />for ~ ~ tt~ wre# ~t wtstir} due lhty~le, btN sl3taf! not he trquared ,tar ita i'#tert asxtF-nmrrrt rs eta rc-rmst±ste
<br />mid t~ sgiRattd ~ cry p rrGektsat of tAtir tnrr
<br />bttlr,4~3ta3Rf ty-?At
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