|
<br />$l.°-f11~t3~~ .~
<br />(I) 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 Devciopment pursuant to the
<br />National [lousing Act. as amended. and applicable Reguintions thereunder or
<br />{[[) if and sv tang as said Hate of even date and this instrument are held by the Secretary of Housing and
<br />Urban Deyatapment, a monthty charge l in lEeu of a mortgage insurance premium! which shall br in an
<br />amount equal to one-twelfth {1(12) cif rMe-half (t,12) per centum of the average outstanding balance
<br />due on the note computed without taking into accnunt delinquencies or prepayments;
<br />{b) A sum equal 2v the ground rents, if any, next due, plus Lhe premiums that will next become due and payable on
<br />policies of fire and other heard insurance covering the mortgaged property, plus taxes an6 assessments next due
<br />on the n#ortgagtd property !at! as estimated be the Mortgagee/ Icss all sums already paid therefor divided by the
<br />numhrir cif months to elapse ixfore one month prior tv the date when such ground rents. premiums, taxes and
<br />assessnxnts will brcaxae deluxluent. such sums to be heid by Mortgagee to trust tv pap said ground rents, pre-
<br />rntums, taxes and special assessments: and
<br />{c} All payments rrsentioned in the two prrcreding subsections of this paragraph and all payments to hr male under
<br />the note secured hereby shah be added n,gether. and the aggregate amount thcreol shall he paid by the Mortgagor
<br />rash month ins .invle payment to he applied t,y Ate Morteager to the ft,lix+wink rta:ns to the order set forth'
<br />_- {';} premium charges under the contract rxf insurance wnh the Secretary nt llousutg and /.'roan Ucvztopment,
<br />or mont}dy- charms 1 m hru =~I m%~rtgage insurance premiuru), a, tt~r case may be:
<br />(lil ¢rn+rnd rents. zaxes.lauccn+rnts. fire and ether hazard insurance pretmm~r;
<br />+Elti ,n+cre:r on rite. r.,tr se,:ured hereby; and
<br />- _- f[V} amortvat+an of the prtnapa} of said Harz.
<br />,env dcherrruv w the entaum ,rf any such aggregate munih!v i.ayment slap. unless made ¢nod'ny the Mort-
<br />pagtsr poor nr the due dare of the next such pavmen[. ,,:nsttrae an rttrn rn default under this mortgage. The
<br />Mortgagee Wray :,,!feet a "laze charge" not to rxczerl t„t.r ~°nt, (1¢? f,rr each ilollar iSS 1 u: each pagmrnt more
<br />than fifteen 1 S _`-1 days m areas to i aver the extia cxecn~ in•.'::Ived is handling de!mczuent payments.
<br />That if the cola{ of the payment- made by the iJortgagor undt•r' ~ o! paragraph ' precedin>< ~hatl exceed
<br />the amount of paymwlt- ac•tuxffy made by the ilontzatzee fur crnund met-- taxes and as=t•~~mt•nt,~ ur insurance pm-
<br />mium~, a.•* the czt,,'e may hr, -#x•h cxccvs, if the iasan is current. a[ the opritx, of the !41w[eagerr. shall tic credited by
<br />the ibrtuatKCe on Huh-eyuertt payment w tx made bi the yiort~agor. ur refundo-•d to the ltortf:r;:or. if. ituwev~r. the
<br />+++onthfy payment- made by the AkxrRagw utrder ,; of paragraph - preceding shall nor he Sufticient to pay ground
<br />rmr. taatrs and a~~rn.Ytrw*t+t~ or insutranrc prrtntum-. a- the catie met it+• when rho -ame -half become due and pav-
<br />ablr. then the 1da•tRa~w .hail pay txr rite iiortkxtee ant- amount ne+•r=--ary tc, mrke up the drficienct, un or before
<br />the date when pay~mt•nt of ~uc•h ground rent. taxe-. a,~t•-~mr+nt- or m~urance pmmtum- -hail lr• due if at any
<br />titer the VOnrtaaAar -hail tertdc•r to [he '1k,rtisnt?w>. m accordant r with the prux+,tnn- of the note ~ccumd hemby.
<br />foil paymerttof the entire indehtedne-~ repn•~t=ntt•d theret», the- il+,ngagee -hal!. !n computing the amount of such
<br />indctxcdttess, rrcdir rv t;__ .ts_'taunc of the Mortgagor :riJ pavmcstzs m.rd[ under the f+rovrsiurts of i.:, of paragraph _.
<br />hereof which the ibrt~s,gtq• ham Hat fxcomc• ubiigat.t•d t<, pad to ttzt• ~c•trrtxn of iluu~ing and t'rban t3~velopment
<br />and env balance remainins; in the fundw accumuialed under ih#• prod-iot+, of '~ ; of para;tmph hert~t,t. if them
<br />~haii be a defauit under :u» r.f t;rr prtrt+=.ax:- :,t tlti- rra:rte=a~r~ r=•-uitirg is :# public -ale of the premiere- eoveced
<br />hereby. or iE the Mon~agw• aryuire~ the pnrptafx otherwi-r after default, the iJurteaF't-+~ -hail apply, at Fhe time of
<br />the commNatcement of wth prucrrdtn~-, or at the time the [reopen. ~- otherwi-e acyutred, the balance therm remain-
<br />inp, in the funds aecomuiau•d un~~r ~ `- of paragntuh : pn•cadtng. n- .+ ,relit aga+n<t the amount of prrncipal tl+t>n
<br />rt>,nainint{ unpaid unalrr -aid nut.-. 'end ,hall prutxrrlt ;alto-t an, petmt-nt- which -haft hat-+• been made undt°r i+:1
<br />of paragraph :.'.
<br />a 'fha! the tt -. [t;=g+•+ r +.,y ~ - na -: rat - t -. - -a€ : r. - .f , r +-t y.,, crnmenta, ,+r ranee spat
<br />t huge,. tier,. ,x +n p. rna*n .. ` r +, hrch {,,,,, nr.at r,:. ~i,•t t-ccn ., ... ..cr.,., xt+ rc ..-ai in ,sex- u(t tt;ea-,~t !ht yl ortE rt,ec may
<br />pa< the ,erne- snd [hat the t! r t; ~ •r u r [ pr nptet dcmtt 'hr d -t .- c p neret -r nc~ tf ttrza~er
<br />s fha hurttz:tg.+; wr!= p t .rt, t:,tir ~- h t- ins hr '_,[s t -s -i?t at _, ~+~c .r tere,t m -. rd re.+t r-cn+r an tmprucr-
<br />tnrnt..:,nd wt+~h,nsy tr treed ufx,n the, , t, .tt,ay the +'rht t,.arrst n_r t+ :nut ni, t+, the extent that ,uch t, no[ probrhn-
<br />ed ht law snd ontt h• rite critot that -och wttt Hat .nakt the '~=,,n u,urr+,., gut c,,tutirng any meume tas. Mate ur Frdrrai.
<br />rmpu,td an 4tUf lr:SbVt"..rreti w tit ttiC the ,~7tiC 4r [r~Cipi ,ti,r,t 1 nC ~~~ C1 ~ ! •'rrt r11 w iris i fee fleet EgilCer. !_ p+'r b rUiNtit,n r,f Ihi, nndr[-
<br />takit~-.xr €! the Mextyegcr r, pr,=trh+trd b, sn} law n,+w :~. t,tre.izter c entm,: fr,=i^ pat mg Ihr whole of an; ponron of [he a.`ure-
<br />wHi taae,. +.r upon die rtndenne,,f sn, :ours ueercc~ Pt,•hrk~+rn;g the p :.;nriu i~, the Llarig:,gor .a art, ,ucb taxes. or d ,uch law
<br />:K de. rte Prutidr, the+t .r ,> nr .ant „=;~a+J ht rht tit rtk...,,+ -: he .-< t tsu r. tni. rat r g:=gc JrC+=. the Eiungagrz .hail heir
<br />±he right t., atxr ntnrt} dot, ~,, rttietr na•t#, e• t„ "hc ,..+ncr .• tf+r +.,•rtt: xt,cv , .~nri,s ....yuir+ng the pay ntrrr .,( the ,uorF~t+gt
<br />debt if such rArt+.C nc gree^ the _s+d debt ,ts,rit t,r ~ r re ere. + h r.,tad .•+r~r~nr"Ic :! ti+r tipuaunn of end runny day,
<br />~ fttat ,ixeu'ar hr Iwo to pay any ,uru •=r weep n, ~ . ~- pr ~=rdcd t•,t :r, th#, M+=reg.+ge, then the Mortg:~trr..+t rh up-
<br />teon, may pas cx ptris+rnt the ,wmr. and at! r ~<pendrturr, „> rnadt ,hell ht added t,+ the prmctpat ,urn c+w mk on the ahv,t note.
<br />,,tail ire xccured tterrbc, and she€t i~ar mzerra si the r,+te ,tt i•xnh r.^. the ,e+u n,xtc. anal paid-
<br />'. That he te.rbt a+5+gna, tramfer, snd ,ct, •+ver #o tier LitH tttagrc. ts• t,,: .+pplxd wwerd ff pal n#- .[ of the n- tr and al;
<br />wmt ,r.:urrd hrret*t in .a,t. ,-f ;. dtfauh it: the ptrf+umatts.r „i .an; .,f the term, and c,,ndit+t. n ~f chi >lurtgagt r ter ,aid
<br />crate, alt the rent. =cognac, and tncaetrtt to='+r dr€str.t frnsn the n,,,rtgued prrtrr,r,:.tunng ,uch nmt .+, ihz nxort~!aye indehted-
<br />tress shalt setrta+n unpant: .end the dte,ng:tgrr +halt have p.+wer ;<. ,npotnt :any agrm or ngrnt, ri m,+i de,;rr f+u the purpose u(
<br />repairir~ said prentrse. atwot ;rntirtg tits sa=c-e :3 d ite:.tmtt t ant,. re:rnue, and rn.omr. nn.i a nrsy p.e. „ut of ;aid m-
<br />cames ell tapensc, .,€ rrpaxttig ,aid premise, and nect.,ary c,xtimr,swn, :end r tprnsr, [rnurred in renting tend managing the
<br />#titst~: and „f a>iiecti#tft ren4xfa ttxreirom: tree b:~dance remaening. tf any, n, br applied toward [he dt.iharee ut ,a+d mortgage
<br />iru[rbte8~ss.
<br />g. fhs! he wdl kert+ the irrtorocemems now ekixfing t,r hereafter erected un the mortg:+ged property, insured r>5 may hr
<br />rcquirtd fr„m tame to omr ht the 4{~ongaSecct t,{tairr_it i+ss- hY tiro and ,ether har~[rd,- _'a,uahir, and coin+ngcntir+ in :veh
<br />~x,uttts a+td fa~tr su.h ptrutds as mat. i,e required t•ry the ~itrctft:tgre .+nd w i3 p:+y r..trptfv. w-hen due. =r+} pretmwn n ,uch
<br />ittsursncr provision fax pavrnent of whtclt has ntei been a+adr hrreinf±rfc rt. All to«.ance ~ }' fx , a,rtcd in i,!mpume, ap-
<br />tsroytd Ny zhr 'vfwtgrap5rer and ttte pattetrs attJ renewer, thereof ai#:s1i hr heid i,y tit hlongagrr :+nd have ettuctrd ihrretc, to,}
<br />;xayrsfx# sleu;e, rn fa++»~ of aru3 m (arm acceptai?k to the ~fartg~,rr. la event of toss ',fortgzsgtx w-ill give immediate nottcc ht
<br />rttwit ter the Mtxt;agcr. wlfi, rna} make prcuyf of loss ii not made f.ra,mptiy by 3lartgagur. and rsch tn•urrrt,:r co+t; p.+uy a+rn-
<br />Certttd i+ hsrrhy suttnrtued xn.E dxrcted w ntake payment f,,r .act krss dirtt:tfv to the Mortgagee imuad of t+: the hSunt;a~or
<br />u .n tt~ #4~ts,•t,ntls..++[•J the ense:r-urge prc+~etds, s.,r ens n;irt thertuf, ma}~he apphetl tst~ the tfurtg:[f;te at rt, ,,t:u.;n c+tt#rr
<br />k, flee retfasctitm of the tntfrhlcdrtes, hereby secured ur tar zisi rrstgraix±ar ar repair of the propc: t y d.,rr,:+ite.l. in r~ ern art ts+rech'-
<br />azre irf rhea etitra'ift: ur anhu transttr o{ trek to iho r:ttrrtgafted property m txeint,+uistmcnt :+f the mdeP•ttdne„ ,enured hereby.
<br />_.tt right, ittk atrf itttrrrit ref tit !alagttu in era! to an} insw-xrts~e tx,hcirs then iu ( z -+, h-;(i p tx~ the ;+ut. baser or krantee
<br />v /`hat a< ftti~3rra; and .offatttat st>F:uricy fax the pamrnt r.+f the nacre iirs:~rtbrd, and ,+ a, rn, t:. hetiumr dttr under [hi,
<br />mt~rtizs>pk.. ttK MrKx€g~ta hereby aa,tgns to the *Ar.+rtgaper . t- •,*r+ht+. revenue>, r:,ss3lzc,- right, snd benefits ,accruing t+• [tsc
<br />A4ariguf ur may' 3Hd ~f cut aRSd gan trash +.uy t=vd precttses. w-dh the rgtttt t. tc .r~:r :=nd receipt fur the ,ern end appio
<br />tit~rer; ti ~xrti F='~Esre 4ptat~ a>`, w-eft tic{c,rr a, otter ale{aulr in the c•*ttdttwn+,?f tfna err a tK ',<_c ...nd the Ata+rtrZa(tre nre::i -.-.. .od, ,::c
<br />1x+r aril ref-.=t;tr atx} .aa,:t+ tr~syrett•ut+, when d;se oral pryabic. hui .ha# :axe i„~ cry+;+rt .,• .i., '~he> .r„tkrnxcr=t +, t.• tr'~,r+n~ur
<br />:=sad t.%s`v:r.+~?+~ rtt23. ,~rxsl r:»ri itt*'-nx st•iex•~c ._} th!*. nra>itt,
<br />NiJb 9~iJ?M ;a it~l
<br />
|