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81~0275Fi
<br />(1) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the
<br />iVatianal Housing Act, as amended, and applicable Regulations therem,.;er; or
<br />(Sd) If and so long as said note of even date and this in<_trument are held by the Secretary of Housing and
<br />Urban fkvebptrrent, a monthly charge fin lieu of a morfg¢ge insurwrce premium) which shall be in an
<br />amount equal to one-twelfth (1/P?) of orte•half (i/2) per txntum of the average outstanding balance
<br />due on the note computed without taking into account delinquencies ur prepayments;
<br />(b) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on
<br />palicces of flee amt other hazard insurance cort;ring the ma€tgaged property, plus taxes and assessntenis next due
<br />un the mortgaged property fall as estimated 6y the Afurtgageel less all runts already paid therefor divided by the
<br />number of months to elapse txfore one month prior to the date when such ground rents, premiums.;axes and
<br />assessments wil! become delinquent, such sums to be held by Mortgagee ir. trust to pay said grourt6 penis, pre-
<br />miums. taxes and special asse~ments; and
<br />(c t All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the Hate secured hereby shaft be added together, and the aggregate amount thereof sftall be paid by the Mortgagor
<br />each month in a single payment to he applied by the Mortgagee to the folCowing items in thz order set Corth:
<br />(f) premium charges under the contract of iannancr wtth the Secretary of Housing and Uriran i~evelupment,
<br />- of monthly charge (in lieu of murrgngz irrsuranre;?remiuntl, as the case may be;
<br />{!1) ground rents, taxes, assessments. lire and other h:uard insrrance prrnilums;
<br />{III) interest on the note secured hereby: and
<br />{I1j) amurtvatwn of ihr prmcipal of said note.
<br />Any de£s:iency to the amount of ant such aggregate monthly paymant snail, unkrs made good by the Mwt-
<br />gagor- r-to the due date of the.ntxt suite pantcnt, iunstnutz an event of de#ault antler this mortgage- The
<br />M mt€y cailiect a " laQe theta" not to exceed t<=ur Gents f-ttt) For each dtrUar tS 1 1 of each payment more
<br />than tt (d3) days m artasto cover t#tr extra rxpetrre tnvnived in handling delinquent payments.
<br />3. "That if the total of the payment- made br the }inngagor under ; ~ + of paragraph 2 preceding shall exceed
<br />the amount of payment= actually made by the }Irrrt~a~et' for emund rent-- to>e~ and a~se~.;ment~ or insurtmce pre-
<br />miunt*. au the care may be, =uch excess. if nc~ loan is current-. at the eptitxr of the Mortgagor, shall he cr•dited by
<br />thN }lortgagee on -ub-cquent payments ter trc made to the }tnrtKaKor, or refunded to the }lartgagor. If, hoverer, the
<br />mtmthly payment- made by the }lcrrtgagtrr under : ^' ; of par:t¢raph ~ preceding shall net be sufficient to pay ground
<br />rent, tttne4 and aa~ess:mtvtta ur inwtrutec premium-. a.~ the caw«• mar be uhtyt the= game -hall hecnme due and pay-
<br />able. then the lkxtitaKtx shall pay to the }tortgal:eۥ ant amount Here-pan ter make up the deficiency, on or before
<br />the date when payment of sw•h ground rent*t. taxes, a~-ems-menu or in<urance premium- =hall bP t3ue. if at any
<br />lime the Wnrt¢aetx -hall tender ur the }Mrtgagee, in arcordnn++• ;elite the pmri~irut~ of the nnfe ~eeared hereby.
<br />Tuft paynrettt of the entirn indebttdng."` nyrrc'•t•ntr•d thereby .the }lortcaf:re -hall. in ramputinp the amount of ?uch
<br />indelracti~trss, credo to the acc€xrnt of the Mortg~gur .all payments made under the Ir;uvist€ma vi rot of paragraph 2
<br />herent which the \krrtr;at<re ha.- not 4menrrte nb)iXated to pat to the ~ecretan of li€w-ins and f;rban Development
<br />and am tralanct• remaining in the fund', accumulated unaler thr prate-eon- ut' t i of parakraph < hsreof. tf there
<br />sitatl be a default and€•r arts of the pros-i-ion- of chi- murtr%a~,v n,-ultrng rn a public gal€+ of th}• premi.~r4 rovcrcd
<br />hereby. nr ii the }iortKa¢ee acquires th€- prape•rt} otherwise after default, the }tort~utee Khali apple=. xt ih€• lima of
<br />the crrmmem•ement of wrh pert€K•dint;-, or at thr• !trot th+• pnrp€•rt} t- oth+•rwi-.• aaqutred, the balance then remain-
<br />irg to thx• fund:+ arrumulated under ~' ~ art par:teraph ' pr€•rr•dinL. a- ,+ credit :4tatn~t the amount ai principal then
<br />rwttaminr; unpaid under ~atd note, cwd hall pnrprrla .rdt€t-t :tm payment- +=bleb -hall h:€re been made under t,r?
<br />of paragraph :r. .
<br />I~het the \f,rttga},•r uric p v tnaurd n•nn. %.+xc. ,....-tnrmx_ ~.x acct r:ner, .,nd other mu+rrmnenl:ai or mumcipa#
<br />ihargts. tier., ur rmp++rraa,m. t.+r worth pt+„r,r=wr ts,e~ r•:a been ,r.:dr brrem!>efure.:.nd m eirtau9 thercnf the Sortgagee may
<br />pat the ranee. acrd char the \k,rtkassa a u! ~ ;.+mptlc defi:e% +hr ,.f , tai ;ecrtpi; thea•f. r to t'trr Uorigngce
<br />5 The \lortgagor .x dl pea .,ii to<r~ ,+hr. h ->Ea= tx !e=red ct•„a the tlx,rtkahCC = mterz,t In ~:,td real C.futr and lmp.oxe-
<br />mrnts. anal whtch max t•r Ir.red up,,n the. r*:,•rty;;r.e ,•r the debt rc.ured Hereby that =arty to the ertent that roils it nut prohi~it-
<br />ed by Isw :end unto t.• t#re rectal !hat .u,h .=u; n.+t Make .tn. !++.rn u,unr.;,rr but erciudtny; ,toy ini=mre !ar- tiiatc c,r l~ederai.
<br />impsasrd un '<fan~ket. and w:!i ti#r the .+Ht.,.,i 'e, r,pr .h,:,t ur4 .;rite p.n;nent w rth Urr \tot#gagrr t pun u•=fatiun.a thin under-
<br />taking. or it [he \tortgegor i. pn=hrhttrd ha .,m law ;:,+~,. ,rc ntrr.dtrr rev:n~ from p.tying the uh:At• or am i-•ornon u( the ate=re-
<br />said Ltrer, =rr ufh,n the render tog of utx ..+uri drettr pr+•tuY+tttnp the pat nrent hr the }turtt;:tgor ur any .Hitt [are.. or if rush #nw
<br />or dra~et provider that am snr=aunt ,u paW hr ahe Aha t},:g=+r .h,:li hr ~rrdned an the mortgage debt, she \turtgagte +hall h;axe
<br />the right to }ne marl) days urntra n,ru.r !++ the +,w Her „t the ,^=~ngagrd p_remi+€~+. rryvmng ihr pay-meet ut rile mongagr
<br />debt. If such n€=rice ha itren. the utd debt rha;t hcr.+mr aloe. p:r..rf+ie .:nd .aide: ut+le at the rrpiraua=n i+f .:rid Hiner} day r.
<br />h. -Chat shtw#d hr f:rti te+ pay anx .urr: e,r kelp a: _, ~:+~.rnar+t proxrdtd t„r :n thts \tartgage. then the !siartgagee. at iir ap-
<br />tion, may pay or pertvtrn the rame..rnd all trprrtdtturr. r,, ne,;dr shut! !+e added to the prins•ipai rum owing un the abate note.
<br />.hall !+e secured hereby-and s#tail bc:u mterrst at the rate red forth to the raid Wort, twirl paid
<br />-- 'that rte hereby assigns, tranyftrr and sets arer fn the ,'rtnrteagte~. to }+e .rpplied toward the pay=rnent of Shr note and all
<br />sums secured hrtcby in tat se ;=f :t default in the pzrferrmanir a=t ant- of the term, un<i i=+nditiunr ;+t this \iortgage .u rhr raid
<br />trace, all the rents, retenue+ and rncumr ta, bz drrit-ed term the mortgaged premise; during suite tune a~ the mortgage irtdei+ted-
<br />ttess shad! remain urtpatd: and Iht 'tt n?rtgaget sha[i l+:rre power [u appoint any agem or ascots it ratty desire fns the purpose of
<br />rcpairitip raid premise'; and of renting the stmt and cr=(leiting the rents. rraenurs :and income, :end tt max pay out of card in-
<br />comrs al# txpensrs of trpairit~ s:ttd premises oral ncccssary commtxsiunr ant zxpensts irtcurrtd ir. renting stud managing the
<br />satne and of cutketing rentals therefrom: the balance remaining, if any. ter be at.p#ied toward the discharge ttf raid me=rigagr
<br />mttcbtedttess,
<br />R. TTrat he wit! keep thz imprtwemenrs now existing cK trertafter rrrcttd un the mortgaged property, insured as may he
<br />required tram time to tiara t+y the }lortgagrr agamcz lore by lire and other hav:uds, caruaitirr and cominecniies in such
<br />amounts and for such prri€rds as may t+e required by the }fartgagrr and wilt pay promptly. when due., any prrmiurnr un utih
<br />itrstuarta:e prtrviutm far payment a,t which has trot been made htrernbetore. ;}.II insurance shall he earned in iutnpaaicr •rp-
<br />provetf by t#tc Mtutttaa{tee acrd the ~tuit+ and rentuah thereof sha0 ht held hq the ~lartgukcr and halt attached thereto turn
<br />tuyahlr t lau5cs in tastrc art and in farm acceptahk to the }twtgagtz In etrnt of for<'.turtgagur will girt mrmedtsir e=xact by
<br />teal! tit the Mtmgagre, who, mat tnakc Prtu,f ui leers if nut made promptly #+y tiortt;t~x+r.:end r:rih inauratt~e ic,mparsy i+,n-
<br />certted is Hereby authtaited and directed to make Payment for arch lass dirrrtly to the 7Nortga)tte instead of kr the Mtntgagar
<br />sod itfr .yfcrttgattca #ointty. artd the insurance proceeds. +>r any-part thtrtat, may he applied ht the Alurtgager at its ,+ption ritfrtr
<br />k: the rtduc€iurt trf tt~ itttdc2rtedness hrrstry° sri trre€f ur to the rrsttwatian or repair of the Pnrpert> damaged to c vent art taresIxr-
<br />sure of tAiri rnartgagc ur other transfer of title err the muttttagrd property to rrnngursnmtm of the mtirhtedncs; arc urrd #terehr .
<br />ati right, title ;end intcrzst of the Mortyngtrt in and err :tot insurance Pt+#icies then m t,=tie rh:tll pass tr the pu[chastt or grants e.
<br />4. Theft bs adtlitinruf and cuilatrral ya.,~tuity for the payment tut the rune dtscrrht~t, and all tyros to hr:omr due under tht+
<br />,ztswtpa~, tk,k Mcat)kng<x h¢rt~hy assigna to ihr Sftxtg:ettre ati pteaht5, rtvertres, r=+y;~ftrrr, n#ktrts and tserac[itr .,t-cnemyt n, the
<br />?ddtrr4g-a~rsr utadtr and alai a{I us# and tzar tCaacs x=n :aid p-ctrtrtes. with the right tc, race+.r and rccripE t+,r the s.+mc and apptt
<br />them txrr:~lEdigess ~ wrr~ E~f,xe a. after default rn tlrt tundktitvt€ ut (iris r^ottgagr_ :,+t,i the kiurtyts~-e mar ,le+nand, rue
<br />tarty r¢~ovct aasy~ SUCK pa.n?enis wf~n slue and pityahk, teat rtud# ruu ~• rrs{tnrcd .o t„ =tu ihi* .=rrrgrnrx:nr rs t;+ t,=r,nuratz
<br />cad t*rtis,mc tuadt an+,P r-t+a1 upon teica+x at tAi4 nr=rripage.
<br />r• V i:• 4tl t a era ty n+?
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