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81--U0271U
<br />{ 1) month prior to its due date dte annual mortgage insurance premium in order ro provide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereumt^r; or
<br />(Ii) If and so tang as said note of even date and this instrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in lieu of a »tortgagC tuum of the average out landing balance
<br />amount equal to oae-twelfth (I,1_l of one-half (_f/~) pe
<br />due on the Hate computed without taking into account delinquencies or prepayments;
<br />{b) A sum equal to the grtwnd rents, if any, next due, plus the premiums that will next become due and payable on
<br />policies of file and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property tall as estimated hp the ;ifruteagee) less alt sums already paid therefor divided 6y the
<br />number of months to elapse before one month prior to the dare when cosh ground rents, premiums. taxes and
<br />assessments wilt become detittquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments: and
<br />{c) Ail payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the Hate secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month m a single payment to he applied by the Mortgagee to the fallowing items in the order set forth:
<br />lI) premium charges under the,:ontraet utinsu,sncr wtth lire tierrrtary „t H.wsmg and ilrhan Ievelopment,
<br />or monthly eharge_rrn tree. nj rnrvtgaR~ rrwrmtc't' nrer.:iuntd. a~ flee _aSe may bz_
<br />(fO ground rents, taxes. asxssmznts. tine and „thee trata:d tr,sarrance prerniuau:
<br />(111) interest on the nnre xcured hereby_ and
<br />11V} auwnvation ,rl the pnnapat of said rut[
<br />:1ny deficiency in the amaunt.ut an} such aggregate +•,::;tt:it ;~a},tjc,+; .hail. unless tnaeie grxxi by the Mort•
<br />gagor prior to the dtu date of the next suite }a'.!'u° .- . a~rtutr at: r~rnt .~t felauit under this ntottgage. 7Tte
<br />Mortgagee ma~> cofkct a''fate eharge"' met to ,:xenU r~~:+: ~-ear, ri,tt her raa! aoiiar t~f f ofeach payment mare
<br />than fifteen I i `f days to areas to rover the extra r._r~tr,- ............. ',andhrg ~'eftn:}aent pat n=.rrtts.
<br />;i. That if the axal aC thr• Faritrs•nt- made bs the lhrrt~a<ur ~rnrf+•r ,.t paragraph ' pmcedinR shall exceed
<br />the amount of pa}•mrm[t sctnafly made by the 14,ngaeee f„r ~n•rprnd rrvrr-- tax,=- and a--rte-men[ or in=urance pre-
<br />mium.., ~ the tra.~e ma}~ tae. =utfi execs. tf nc~ itw +, currcnr ~t nc~ „f.tt>3n of the l~rtgaltex, shaft be credited by
<br />the ltortpagee un pub-eyurnt payment- w M• mede by thr• llrrrt;a2+xr. „r r,•tuad+•ri t+, the lhmgagnr. If. however, the
<br />monthly payments made En' the Mtxtga{;fx under of t~ar.,gr.rfds ' ;mrcalotg ch,rif o„: iu .ufficient to pay nrtrund
<br />tint. taxes and s--e~~mem ur in~ur:utcr perineum-. r- th+= • .t-• ^,_,~ '++° „hen :ta.....rme -haEl irerome tine turd pay-
<br />able. then the llort{ttt(tw -half pa} to the 1firnRaR,•+• .ut+ am+runt rn•cr=--an to make up rhr dt•itcienc}. an ar hefom
<br />the dulls [Then payment of ~urh Lrround rent-. tai,--. ~ ^+'^-mrnt~ •.r ~n-uranr a un•mtum- -hall ht• due. I[ at am
<br />time the NoriKttKtrr -hail tertder to the lkrrty'agrr. ~n ar+urdan, e wtth rte. un„i-r rn^ .•f the Hole -ecural hrmb}'.
<br />foil pa}ment of the +•nnre indebuvfns•^. mpm-r•ntrvi tltrr+•frt. rh.° tlort<aerr• ~h;ti? :ra , emputing the amotmt of :ucfi
<br />tndebtc•rlttesc, a7edit to the accerunt of the Mrxtgakar .ail pasntcrrts r+^..nlr +.oSer ci.c :,,arst,xt of -,;: ref paragrttplt Z
<br />hrrenf tvhieh [hr lbrtkaf:rr hat cwt rxecamr ubfit;sted fez pat :,, ttre ~+, r, Tars ,rl tl.,u-roe sad f roan Ihcetupment
<br />and any 6aluner semaininR in the fund- acrnnutfatrJ .end.-r th,= fx.•..-,+rn• +=t ,•f pare:.'ragh ' harsnl. 1f there
<br />Shaft be- a default under` am of dte pant-tun- of th!- tsn,rlg:~r= r+•-uii+=sat +,+ a {whit± -ale „f th+- pmmr^e- :'as rri'd
<br />heml». or if the ltnrtgaKr•r sceptirc< the pruFt•ru oth,•r,a_, after +t,•teu~.- !h.~'h,rt;;.+zr•,- -hall aFpft. at the time o3
<br />the commenermerrt ul ^ta+~h frru+~eedinp!•. ur .u the t,m.• the prup,~nt ,_ ~,ttr+•r+~+.-+- .:, yatrrri, the hsiatn'e• thert remain-
<br />ing in the fund:- srcumulau•d under • • ~ of par~raph _' prr<+~!ny!. a- a a rrdtt ,~rin~i the smounr of principal ih€n
<br />rcntrainink unpaid under ,std note. and -haft prupertt sdltt^t -m, k, a,m+-nt- ~htc~h -balk f,.r,.~ f,+=+•rr mad.- under frr.l
<br />of paruKreph 'l. ,
<br />i That Ehr 11++tlw¢er wt ~ ay etou:r~l '.irt~ t , -r ~ ~ .;+ =i~ s ~ , n.rtia! •r, ?nutmipal
<br />charge, Bar,, ,+z rare.rvt+ev~s ! t , teal? ;^r•,t rvm ; , a., t*r. r r :_ • ntx - -r - - r ~c t : z r ~ -.+ the it.,ttgaget ma}'
<br />pa} the sine., aced thief tFtr 4iurt~ugur writ ptumpil} Jci,ar: the tf...wi,..eept ..rztef r t s:>: tt rt,, t=r = -
<br />fhr h9 urtgag<•r eJt pu} alt sate ahr h u. t felted u, w the tf,•rttzsy;rr ~e-te,t r- : rr.,+ e,tste :eu tmproce-
<br />nunt., and whtzh mt,} F+e ktr t f up+xr th : t -t[gai!r r ,hr dtt+t ,e.urr,t rr.r<t _v -hut - n,} t,, the r s tat th:+ +_h t. n:rt p,+rhiMi-
<br />ed h} tae anal oak} io tfx rtttrt that .u_n ud', rn+t mane tbtc i ,r=..t.ura,u,r. brit eufudmg ,+nv +ur,rme tav. State nr Federal.
<br />iinpused on Mortgagor. and till fife the ,,dt;ral rr.rept ,h,•w ray, uch pstnrent t.nh the "w9artgagre t Ixrn tialeuon of this unJer-
<br />taking. or if the Sfortgrgau :. prtrhtt+itrd by ens .:~ nu:..u het - ter ;~ f++ m~ tr"m p:.v mg thz u ha-fie „ran} p,xta+n of the aforz-
<br />said utxes. ar ufwn the rendrnng ,+f ant ca uu dt:rre pr„tuhinng th- pay men -..-t the !1 +t tgagat ,ot} w:h tax[+. of tf Such taw
<br />or dz.ree protule, that .,oy .rn1awnl ,+, par,i h} the ltorix.,t;,,r .h.rli I+r .r<dued on tha rt.artgagc aeht, the Mortgagee chaff have
<br />the -fight to gn•r ninety ,:a},~ tsrittrn nuu:e so lira knee ,+f the t v:tSagrd premtsr- rymrirg thz payment of the mortgage
<br />debt. tf wch neruve be gitrn. the said debt ~hsll he< xnr tor. pay -b c and callectihk at the evpiratiam of said nine[ydays-
<br />b. 'c'hat slmuki lre fail to pa} a~ns ,am ur keep an} aaveua„t pruauiev tut in the, ldartgage, then the hfurtgegee. ;e its op-
<br />tion. may pay ur perform the name. and aft ezpenditure> scr made >hsff t+r added to the pnncipai .ant owing un the above oats,
<br />shalt ter .ecurzd hcteb}, and ,haft t+rar interr,t .,t tin r,:ir set forth m the .a:d pure, until paid,
<br />?. T'fiai he hereh} as.igns. tran.frr..,nd ,rt, :,ter to the Mortgagee. t.: t>F'. appitrd t ,card tar pet meat of the aerie sad :dt
<br />soma secured hereby ur cs,r u(e defuukt m [fir r>zri,•rm.,ncr ~~f say of the t•_rm., std - -nditi r. ui [hi, MurtRnEe cu tttr ,aid
<br />rrrHe, ail ihr rents, rrtrnues atui tncumr to hr de:itzd from ttx mortgaged premise, dureng such time a~ the r,:,xty;:rtie inde~ted-
<br />ness shelf remain unpaid: and the Mortgagor shalt ha.r your[ to sppoim any agent or sgznts it mat desire for the purpase of
<br />repairing ssid premises arm of renting the s:,mr sad ~,rkke.ting itu rents, rrt enues and inn+mr, and it ma} } a} ,nit of said in-
<br />onmzs aft zxpenses of rePauing said peerntsrs ,=nit rncess:u} ~,+mmisatans sad expenses incurred in trnitng and m;rnaging the
<br />Santa and of collecting remain tltcrrfrom: the tvtanCe rrmatning• rf any. t+; f..: applied wttard the dtschargr of s;tid mrutgagc
<br />indebtedness.
<br />8- 'That hz wiU keep the improvemtnts nux existing or hereafttr erected on the mortgaged proprrtt, insured as ma} b+:
<br />required from time to time by the llortgagrr against Icss by fire and other harards. cavcdties and anuingencirs m wch
<br />amerunts and far such peritds as ma} he requhed h} flu Mortgagee .end ttiL' pat pn+mptkt . uhru due. an} prrrnium. on ,uch
<br />insurance Provision fur payment of which has not been made hereintx fore- :\II insurance ,haft hr aat rier4 to cr~mpanics ap-
<br />proved b} the Mortgagee attd the pufictr+ and renetaafs thereaf shall he held by the Mortgagee :end hate :+ttaahr,f [her t + 1,+„
<br />pagabk stances in faro[ of :end in (orm acceptable to Fhe Mortgagee. to etent o[ 3+n, Mung~gor will pile +:urr.r,hata n it:e nt
<br />malt to the 6forter. who may make Paoaf of toss if not made promptt} h} Murtgag<u, and e.ah rnsur.+nvc , ompany aon
<br />cerrterl is hereby authorized crud dire.=led ar makz par meat fur weft foss dirn:U} to the ;bfortg;rgee instead of to tar lfortgagor
<br />and the tfnrtgagez jointly. and the insurance pnueeds, ar an} part thereat, mu} t+r applred by the tt.+ttgate~ at its o .nor a tther
<br />tt, the redetctivrn of the indebtedness hereby srcnred or to the rrstora[i„n err repair.rf the proprrts d:un>rKed. Irt runt f fire. to
<br />care crf this mortgage or other frartsfcr ai title to the mortk:tgzd FraPrrt} in extingutshon•nt <=t t}te indeFtetlnr,~ ,r~ need hereby .
<br />alt right, lift and interest of the liortgagor in and fn an}' insurance pe5eirs tt>zn in fur.[ shalt p,an, to the par: ha,et of sr.,nter
<br />4. '(hat as addifwnal a[id atffateral srcucit} tae thz pacnrent of zhe rx>te de>. abed- aril aft corns lu become Joe eudzr thu
<br />moftgtsge. the Mtu'tgrga+r hereby assigm ter the \fortgtrgee rtt prcsfits. rzvenue~, t, t-tttie,, eight. anti henent.:rcirumg it she
<br />.'-strrrtgagirr under ant «and :a[I oil and gas tease, ,•n ~+rd p[erni+z>. Nith the right tc r<~~rite and revcipt iru the ,aru. ~u S ,,ppl}
<br />kftcm ttr said irtdehtedtees. as weft ttzftxe av after def:ruft to the arnditinn . of thi<nt, t g:;ur. acrd the Mortgagee m > d nr urf. sue
<br />for atxt racov~er an} Such pc)mtent. when due :ord paya6te. bw sft.rkt Hat F+r regt,irrd s,. t,• d:a fhi. a„~ttmenr rv to ternunatc
<br />and treeome Huff and v„id upon rt•leasr a+i Fhis mt+rtgstge_
<br />t+11t3.9.ta3M fP-*uf
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