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<br />(t) 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 />National Housing Act, as amended. and applicable Regulations thereunder; or
<br />QI) If and sa long as said note of even data and this instmment are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in tree oja mortgage insurance premium/ which shall be in an
<br />amount equal to one-twelfth (lilt) of one-half (1/~) per centum of the average outstanding balance
<br />due an the note camputed without taking into account delinquencies or prepayments;
<br />(b) A sum equal to the gcxmd rents, if any, next due, plus the premiums that will next become due and payable nn
<br />policies of fire and other hazard insurance covering the mortgaged property, nlus Yaxes and assessments next due
<br />on the mortgaged property ;all as estimated by the rifnrtgageeJ less all sums already paid therefor divided by the
<br />number of months to elapse befase one month prior to the date when such ground rents, premiums, taxes and
<br />assessments will become delinquent, such sums to be hetd'oy Mortgagee in inlet to pay said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />(c) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee u} the ibllawing items in the order set forth:
<br />(1) premium charges under the contract ut insurance with the ~ieuctary of Huusfn¢ and L'rbar. Development,
<br />or monthly charge /in lieu r>!'morrgaee insurance premitunl. as the rase rosy be:
<br />a} 6.u~.^.d cart - .......,, ..sessm,...... !u.. _nd ether bazar;! insurance Premiums;
<br />f1il) interest on the note secured herehyAand
<br />IlV} amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggrgate rnontitly nacmeat ,izall, unless made good by the Mort-
<br />gagor prioe to the due date of the next such pavnreor. antsntute ar. even[ of default under this martgage. The
<br />Mortgagee inay collect a "late charge" nut to exceed '=,cr rents t~ri for cacti dollar ill) of each payment more
<br />than tifteer. (1?) mays in sneers to cover the extra exoer.sr involved ut handline delinquent payments.
<br />.,, That ii the total of the payments made ht the 11ortQagor under r ~.! of paragraph Y preceding Shull exceed
<br />the amount of payments actually made by the 1lortgagee for ~mrund rent,, laze- and a~seesmen4~ or insurance pre-
<br />miums. a:•' the case mac be, .such excess, if the loan t, careen[. ar the upnun of the Mortgagor, shalt be credited hp
<br />the 1#ortgitge«• on ~ubaeyuent payments to he made br the 11on,agur. ur refunded to the \lortgaeor. tC, howerer. [he
<br />monthly payment- made by [he Mortgagee under r ~-, of paragraph ' preccdtne ~hati not he Sutfictent [u pay ground
<br />rent. taxes and a=e.=amen[- or insurance premium-, as the ca_e men be. •ahen the -i<,.,e -hail become due and pay-
<br />:tble then the lbrlgagor :-hall pav [a the 1lortgagee• am .amotrnt ne[•e~-an' to make up iht• deficiency, un or before
<br />the date when payment of such ground rem-. laze-. an.-e--meat- or in~ursnce ptrmium~ -hall be due. I( at any
<br />Umo the Mortgagor <hall tender to the 1lorcgagee, in acrordane•e faith the pro;i~iun~ of the note <et•ured hereby.
<br />full payment of the cntim indebtednc=~ represented therebt. the llonr.~e=_° <hall. in computini the amount of =uch
<br />mdebtrdnrss, credit [o [he account of tfic ..tortgagur ,til pa~;nems made under the Cxuvtsurns of r~l of paragrapL
<br />ttere•t:f tahie.~h th+• 1brEga;t•e ha_- nut income ohli~ated to {'at to th€. •ecretan nt iiuu~in;? .nd urban lyc~vetnpmeut
<br />end :env balant-e remaining in the funds aecumui~ted under the provi-imt- of ~ ~- of partgriph3 tten•uC, If thEVe
<br />~trall lee a default under rent of the pro[i=ions ut ihi- marEgage ruts{tirg in :t public -:tl€• oC the premi.~e~ coterc•d
<br />htrebr, nr if the tSortgagee• aryuire~ the property nthrrai=e after default, Ehe 11ort~agee >hatl apptt. at the [imr- rf
<br />the rummencement of much proceeding.-, ur at the time the propent it othc•r,+i"• acyutmd, thr• haluuce then n•main-
<br />mg to th+• Fum1- accumulau°d oozier °'~1 of paragraph '_' preceding, a-,t credit again-t tha• amount of nrincipal then
<br />rc~ra:untnr; unpaid under -std note- amt shalt ixoperl; .sellu-t :ray Iratment- rahich -ha!I har,• ix•a•n made under ~ •::
<br />of paragraph :'-
<br />-- That !tw titortgagor utl7 ry,r gruuttii rtrti s. laze,. a,x>,nttuts. aster r-rtes..:nJ .;thee gan rnuueaiai ur mania p:r,
<br />+nargr,, ttrtr,. ar antpu,loom, for aaht2h pn,.r,ion ha, nut i~trn made neretnhcfore. anal m default thereof the liurtgagee may
<br />. tIx .,arnc..r:ar ;`eta! !be ~furtgagor a if: prornptic dehrtr the ot6cta[ rccripn thrreta,r t,+ the 3tut'[gagrc -
<br />, Ihc' •1a,rt};da~r auk ~ -.all lase, which may he Set ir. tµxrn the 1ta•rtgngre~~:n[c'ro,l in -std reap e,iste anal nnptva-
<br />atcnt>. end wBtrh otaa hr tea ird upon this murtgagt or the debt ,eaueai herer.t rt,u; ,rctlt to the relent that ,uch r, nvi prohihit-
<br />~.u ',; ax .~ ...,.. ,a tht .stmt that ,uai:.iii' tart r. eke thr< ,a.•,n t.,urs.,, ,. ^u! rs.iaedmg an!. intunte t.tx. `;rate ar! Fedtra+.
<br />impu,ed ;rn•\{aN[g:.Fee. anu Kett file the nthaai rerctpi~,ht•wtng ~n.at prr~rse~tri ,a nh Ehe ",ia,itgegec- L pa,n t wlanon ~•[ flu, unJet-
<br />takrr.~, aK tt ilia Uut[gagu€ r, ptohihtted by .,ny ian+ nor. or hen elite c xt,ung tru;n paying the u hake art xm r-~uriton a~f the aforr-
<br />,atd texts, .,r upon the rrndrnng of any coon dt. ere pea=hshtung the - ntirtt by the M1tortAegur .x ary r,u:h t.,te,. err d ,u<h taw
<br />a,r dr.rer pr.•tuiet that soy am,,unt ,o paid hr ihr 14ui tgagarr ,ha=i he , redurd un the mortgage debt, the =vturt~,gec ,hall hate
<br />tier =tgttt to t;rtr rurx-ta d;:}.- .+r,ttert nuuu tar the . t+nc'r ~. ihr ~n:•rteaerd prtmr,es. requiring the peymtnt u( the inutigegt
<br />debt tf such n,ut.t h -lien, the ~atd+=rht ,hail tu:.,rmt dot, payshkt ar:d :olie~'.ible at the e><piratiun of ,ai.i moat} d:iy,.
<br />t,. ?hal ,ba>ukt itr fail to , a} .cn> ,um .+r keep :+ny ::a lane::: prutttird fire in Ehts tiiurtgagr, then the ~tortgagrc..,t n, a,p-
<br />uon. rosy pee au prrtatrnt ittr ,sine. and .,I! rapenditure. ,o maaie ,hall f?r added to the principal sum uv.ing un the .rl,u,r note.
<br />,ha!I be ,e+ured herthy . nd ,hall tear tntrrrs*:: t ibt ; air ,ct Perth in the ,aid mete. until paid.
<br />- The[ fir htrehs J„,gn,. Cr.,naftr, sr:v Ott, .rice ti, tilt 45ungagee, to r`i enphtd too and the oay meat nI rite Hutt »nJ ,rl;
<br />,utu> -<e.urru hereby sn .3,e ui a dct.,,,:t ;~., vile ^.:tar:,-aart~e ,r. , n} r,f the term, and ~unditiuns a:t thi, ~'furtgrgr ur the ,.rtat
<br />natty. a?t the rem,. rescr•:ae, and in,.•ntc ta~ be drnred fntm the i~e:,rtgagcd premixs daring such time a, the mongagt rndehtrd-
<br />r~ss ;nett remain anpatd: slid the liurigager ,hail ha=t n ..a-. ;a+appuiru am agent or agents it m;,y desire for the purpo+: n
<br />t><pairirtt*. Said prctna,r, :,nG .r. rentrng the ,ante -,oat .oite.:t;n~5 the rent,, revenues and income, and it may pad nut of seed in~
<br />conies ati expenses of rrpainrtg ,aid premises and nrcessan arrnnussiar;s end expenses incurred in renting and managing the
<br />,sine :tad of atEtecaittg rentals therefrom; the balance remaining, ii ant, ur be applied toward the discharge of said mortgage
<br />utdrhicalncss.
<br />8. That ht wait Rrtp the irttpru.emrnt, uc+.+ csiuutg ur hereafter erected on t8e mortgaged propertc. in,urrd a, stay t•r
<br />required front tune : • tints t,y the 'ttortgaget against iu,, 'r; fire and other haeards, <uualtics :rod contingrnoirs m ,t;ih
<br />»m<?u.^.t: attd f>_~ sort: prriruia ,rs mat t,r rci3uirRd by tht ~iertgag:<e art:! wil? pat promptly. when due. any premium, on .ooh
<br />in utsna:r pruvisiun fur paynzrnt atf :ctei~:h F,a, nut !-sett roads hereinhefore- Ail insurance shalt het ;::{cried in auntpante, ,rp.
<br />peeves? by rite ~lort~tgee and [hr C~hae> avert reurunkn thereof ,hall be held hq the '4furtgager and trout attachcal rhertto to,s
<br />pasabie nausea in far or [xf acrd in form arerptable to the Mortgagee. to event uJ lost :+lortgagcr xitf gi;t rmmedia[r nailer M
<br />mail to tttr Mcmtg;tgec. svhe may make pr.n?f of k.,. i[ nart ntadt prontptty by Murtgagex, ;tad ea,:h insurance company :ou-
<br />eerned is hcrehp .iuthuriztu and directed rmake pay roam for n,ch la,s directly tar the= Mort~igec instead of tc~ the tiiortgagor
<br />.tad the ~f[rrfga~ee jointly, anal the insurancr proceeds, or any part thereat. may tx: applied b} [he liurtg;tgec :=t is, up[iim either
<br />ter the rrduct~n of the indehtrdr:rsz hereby secured ut !u the : tsturatiun air repair of lire prop.; ty dariauptd la rs rot of Pere: ia~-
<br />sure art the m.rr,gr ttr oilier trantiter of title to the ^ts,ttt;;y{rd pieprrty :n r tlinguts)tntrnt of the indebicdnes, starred her a°ht .
<br />;tlt ry~t, Uric volt"s interest a!f the ~langif€c,r in and tc• au} insurance polirir, that ire f,,rcc .hat' pa„ try tilt purchaser err p;ruttrr
<br />4 ittat as aJdilftrn;li .end :allatcrat set urrty fact the p33 meat of list nat~ :tz>: rtt•e`ef. encl .tlf s+.m.s r,r t•rca,:nc due ,:ode: t7ti-
<br />rner*tgugc- rise 'dartgygart hrzr-ht ,[ssi~n-, to fhr ~fartgager sfi prarhts. re.enue~, r-- sleet. rvght, end he-srtiE, a,.rtu>?g t€= the
<br />1t,+s tgu¢~!r tnxt3er any and .rte exit arz€i rr, tcwse, =err >ard psemf,r,- utih thi+ u$ht ~,~ .+ _ .. ..i rcietpt fix the s:une erd appit
<br />i$r*:: to,at'? indiFt.rft~{-> a - et. Fa.f{rr< ,a, after etefattil in the conduuse., r-t tbi , . - ,M.+.,_ ..ro the 1'..rrtg~ee may demand, ,ur
<br />!s drrl tC,!~t tT :_;tr sacra pltt-rrsilt.- when ,lac sold pd}at+te, hf,tl shat! n.rt hi- *s4'-rnu.t .r, to do "this a,at};rn7ttn[ w. to ti t,innatc
<br />,:red tv'-r,;rste ratiit a+tt~t aP+ti spar- tile- ~ [ chi, rv,rngagc
<br />. _.,sire ;v ,,,,
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