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<br />{I) month prior to its due. date the annual mortgage insurance premium in order to provsde such tuulder
<br />with funds to pay such premium to the secretary of Housing and Urban Devetaprrtent pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder; or
<br />(tI) ff and so song as said note of even date and this instrument are held by erg Secretary cf Housing and
<br />Urban i)evetopment, a monthly charge (in lieu of amartgege insurance premium/ which shall be in as
<br />amount equal to one-twelfth (1)12) of one-half (!/2) per centum of the average outstanding balance
<br />due on the note computed without taking into account delinquencies or prepaymlents;
<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 />policies of fire and other hazard insurance covering the mortgaged property, !rhos taxes and assessments next due
<br />on the mortgaged property (afl as estimated by the Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and
<br />assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />(c) Ah payments mentioned in the two preceding subsections of this paragraph and ail payments to be made under
<br />the note secured hereby shalt be added together, and the aggregate amount thereof shall be paid by the Moe gagor
<br />each month in a single payment to he applied by the Mortgagee to the fallowing items in the order set forth:
<br />{i) premium charges under the contract of insurance with the Secretary of Housing and Urban Development,
<br />ur monthly charge (in lieu ofmortgage insuranre premium/, as the case may be;
<br />(H) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(Ili) interest on the note secured hereby: end
<br />(tV) amortization of the principal of said Hate.
<br />Any deficiency in the atnount of any such aggregate monthly payment shah, unless made good by the Mort-
<br />gagor prior to the due dart of the next such payment- eunstitute an event of default under this mortgage. The
<br />Mortgagee may collect a "late charge" nut to exceed four cents (fit) fur each dollar (S 1) of each payment more
<br />than fifteen (15) days in arrears to cover rite extra expense involved in handling delinquent payments.
<br />3- That if the total of the payments made by the Mortgagor under (b/ of paragraph 2 preceding shall exceed
<br />the atttoitnt of payments actually made by the Mortgagee for mound rents, taxes and ussesgments err insurance pre-
<br />mium4, ~ the case may be, such excess, if the loan is current, at the option of the Mortgagor, shah be credited by
<br />khe Mortgagee on Subsequent payments ur be made by the Mortgagor, or refunded to the Mortgagor. If, however, the
<br />monthly paytttents made by the Mortgagor under t!:i of paragraph ?preceding shall not be sufficient to pay ground
<br />Pent, taxes and aa~.essmettts or inwt•aitce premiums, as the rage may 6e, when the same .Shall become due and pay-
<br />able, then the ttort{;agur shall pay to the Mortgage+• any amount necessary to make up the deficiency, on or before
<br />the date when payment of such ground rent-. [axe-, assessments or insurance premiums ,hall be due- tf at any
<br />time the Mortgagor Shall tender to the ltongagee, in xrcordanca with rho provisions of the note see-aced hereby.
<br />foil payment of the entire indebtedness irpre.-entt:d thereby. the Mrgagee shall, in computing Lhe amount of arch
<br />indebtedness, credit to the account of the Mortgagor :ell payments made and€r the provisions of (u1 of paragraph
<br />hereof which the \Ntrtgagee has nut become obligated to pay w the tita•retury of Housing .,nd flrbttn C?evetopm€nt
<br />and ant balance remaining in the funds accumulated ender the provisions of tr.•; of paragraph 3 hert'.rf. If there
<br />shall be a default under any of the pnrvision- of this murtg:tge resulting in a public sale of the premises covered
<br />hctt•eby, or if the Mortgagee acquires the pmpenv otherwise afar dt+fault, the iiortgugee :-hat/ app/}, .[i the time of
<br />the tnmmenecmtent of such praceeding~, or at the time the pngmrty is uth~rwi.<+• acquired, the baiattce then remain-
<br />ing in the fund- accumulated under tr- tit pard,Rrapp ' precrcling, a- a credit ai;ainst the amcruttt a[ principal then
<br />remaining unpaid under =aid nua. and =tiaii erupt=ri::td)u=t :[tit patmt•nt< which snail have: been made under ,=•r!
<br />of paragraph '1,
<br />4. [k~ the M€: -- -ill -- etsu...: :. - ,Wxrs, .,--~--..: - - .ter -.,,,.; - ottt.'r gav.rnrtentat ar nt:;r:icipa.
<br />ch-argrs, iit~+, eN im.~ ,tiiri.>nR tur~wh~tt n•,,vsit~:•t'!~.a~ €±.=_t i ~-<< .. g~herrinM_FUrr ~;:nd~i!, •a~fau!t thereof the Murtgagr~ r: .
<br />ray. leer sumr::utd that the `viurtgxigtrr will promptly deliver mi~•.•riicuti rrcelpts therefor to the Mortgagor.
<br />S. 'rt ®. M.v .tl 'di ... ~h[::h !. - _ hy. IC -...z. ., el„+ 41.. .... ...Cat i...,N ;t . 'I :. n:,i : ..
<br />fnCnlS, and Whlch Iltd+ bC lev1CJ 'JpUllrt[hl, nlVflldgC•1:r the JCfil 4Cl UfCJ`herc.by Ibtlt UIII VF tt) tilt Cxt4°[lt that su4h 15 tier prU)hltrlt-
<br />€d by law and only to the cxtert iha[ such vii1 nut rnakr this loan usuriousi, but excluding any income to%, )fair ur f=zJ2ral.
<br />impaled on Mortgagor, and wilt file the otfieial receipt vhuwing wch payment with the Mortgagee. upon violation of this under-
<br />taksng, or if the Mortgagor is pn:hibitrd by any Iuw now or here:+ftrr existing from paying the whole ar any portion of the af~re-
<br />said taxes, or upon the rendering of any coati decree prohibiting the payment by the :ifartgagur ur any such taxes, or if such law
<br />or decree prcwides that any amount 5ti paid by the Mortgagor shall he credited on the mortgage debt, the 4ortgagee shall have
<br />the right to give ninety days' written notice to the owner of the mortgaged premises, requiring [rte payment of the mursgage
<br />debt. If +uch notice he given, the said debt snail become due, payable :end collevlihle at the expiration of said ninety days.
<br />6. That should he fail to pay any sum ur keep any covenant provided for in this Mortgage. then the Mortgagrr.:rt itv up-
<br />tiun, may pay or perform the same, and all expenditures su made shat! tx added to the pritteipal sum owing tin the at>Gnc note,
<br />shall br•~sec~ured hereby, and shall rarer interest at [hr rate set forth in the .aid note. until pail.
<br />r. {,Wt tie hZrCby ii!\Igni, teen\f{.ri anJ 1Cil 171 r1 ill tits iVf Urigagrr. IV fiC applir?d iUK:ird lht p:Il1TICrlI Ui ih[ n+1iC :1nJ ail
<br />soma secured hrrrby in case of a default in the prrtormuncr i:f any of the terms and condition, of this Mutt~gr ar the ,xid
<br />note, al! the rents, revenues anJ locator a+he Jrrived from the mortgaged premiers during such time as the mullgage indrhtrJ-
<br />noss shall remain unpaid; and rho Mortgagee shall have pirwer w appoint :iny :Igcn[ ur agrnty it nlay Jesitr ter the purpose at
<br />repairing said premises and of rottCrng the saner and alltecting the rents, revenues and income, artd it niay pay out of sail m-
<br />comps ail expenses of repairing acid premises and necessary` cammisstans and rzpensea incurred in rentftyt and managing the
<br />same and elf collecting rentals therefrom; the kr:llance remaining, if any, to br applied toward the disrhurge tit said mortgage
<br />indebtedness.
<br />g. ThA4 he will keep the imptovrmrn[s now existing ar hercaftcr rrrrteJ on rho nt:7rtgattrJ erupgtrty- In->uttJ a. m;sy t>r
<br />required from time to time by the Mortgagee against fuss ray fire and other hut:rrds. casuihirs anJ voutiugrncirv in yarn
<br />amounts and fur such periods as may be reyuirrd by the Mortgagee and will pay promptly. wtu:n due- any premiums tin stxh
<br />'insurance provision for payment of which has not Bern mane herehtbefore. pail insurance ,hall hr ~arrieJ in cumpdnies ap-
<br />praved by she Mortgagee and the policies and renewals thereof shall be held by the Mungagre and have attar bed thereto lose
<br />payable clauses iii favor of and in form acceptable to the Mturtgagec, In rvrnt of loss Mortgagor will give unmediatr trotter by
<br />mutt to rite hfQriga~r€, vvhtr [nay make proof of kiss if nut made promptly by Mr_xtgqur, and rash insurance company con-
<br />cerned is hereby muthurized :end directed to make payment fw such loss dire,=dy to the Mortgagee ins[cad of [u the ttungagar
<br />attd tl'~ Mortgagee jointly, and the inwrancr proceeds, or any part thereof. may tx appiird by the Mortgagor at its option either
<br />ht the reduction of the indcbtednr.ss hereby secured or to the restoration or repair of tree propern JamagcJ. hl rent of forrciu-
<br />sute of this mortgage ur other transfer of title to the mortgaged property in r.vtittguivhnlent of the indetrtrdnrs, ,ecurcd heron} .
<br />all right, title and interest of the Mortgagor in and to any insurance policies then in force snail pass to the purchasrl ur grantee
<br />9. T7tat as additfunal and rutlatrral srcurhy fur the payment of the note JoscribeJ. and all yams to hernme due under thi.
<br />trti?ttgaftt. the Murteaeur hrrrby a5siens to the Milrtgtg€c ill profit+, revt•nurs, ravattics, rights and tsrnefits :ectiruing ti* Ihr
<br />Murty~or udder any artd ail oil and gas leases u» said premises. with the rittht to recoi+r :md receipt fur the vame anJ app/}
<br />them to said indebtednesx as well before as after default in the conditions of [his m.=rt>;:lae- :md the ~tortea;;re ma, Jen:and. cur
<br />tar and recover art} such l:ayntrnty when Jur :end payable, brit snail nut be rryuirrd ,o [1: d,~ 1'tii, :7„Ignn;, n[ is i.i ;rrminatr
<br />and ttcunnr null and void upon release of thiv martg:tgr
<br />~ti ~L7 tr2t43A9 iJ 't3!
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