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<br />(t }month prior to its due date the annual mortgage tnsueance premiurn'in order to provide such hutdzr
<br />with funds to pay such premium to the Secretary of Sousing and Llrl'tan Development pursuant to tlrz
<br />National Sousing Act, as amended, and applicable Regulations thereunt:Lzr: ar
<br />([I} if and so long as said Holz of even date and this instrument are held by the Secretary of F{ousing ano
<br />Urban Developtnznt, a monthly charge tin lieu aja mortgage insurance premium) which shah he in an
<br />amount equal to one-twelfth (1/12} of one-half (l,%) per centum of the avzrage ou±standing balance
<br />due on the note computed without taking into account delinquencies or prepayments;
<br />(b) A sum equal to the ground rents, if arty, 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, plus taxes and assessments next due
<br />on the mortgaged property /ail as estimated by rice Mortgagee) less all sums already paid therefor divided by the
<br />number of months to zlapse 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 spzctal 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 u?gether;~and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee w the following items in the order set forth:
<br />Q) premium charges under the contract of insurance wrth the Secretary nt Housing and Urban Development.
<br />or monthly charge (in lieu gl'mortgage insurance premium:/, as the case may be;
<br />(11) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(Ill} interest on the note secured hereby; artd
<br />(IY) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly paymznt shall, unless made good by the Mort-
<br />g~gor prior to the due date of the next such payment, constitute an event of default under this mortgage. The
<br />Mortgagee may collect a "late charge" not to exceed that cents I~t~t) for each dollar (Sl) of each payment more
<br />than fifteen (I S) days in arrears to cover the extra expense involved in handling delinquent payments.
<br />tl. That if the total of the payments made by the 1lortgagor under /i,r of paragraph `? preceding shall exceed
<br />the amount of payments actually made by the lbrtgagee~ for etnund rents. taxes and assessments or insurance pre-
<br />miums, as the c•:t,;e may he, such excess, if the Loan is current, at the option of the Mortgagor, shall be credited by
<br />the Mortgagee nn subsequent payments to be made by khe Mortgagor, nr n^funded to the Mortgagor. If, however, the
<br />monthly payments made by the Mortgagor under (hj of paragraph 'preceding shall not he sufficient to pay ground
<br />rent, taxes and asyeysment_5 or insurance premiums, an the c:r`e may be. t+hen the same shall become due and pay-
<br />able, then the 4lortgagor shat) pay to the 1lortgagee any amount nec•essan' to make up the deficiency, on or before
<br />the date when payment of such ground tents. taxes, assessments or insurance premiums shall be due. If at any
<br />dine the lbrtgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured hereby,
<br />full payment of the entire indehtednet;; repreented themhy, the Mortgagee shall, in computing the amount of such
<br />indebtedness, credit co the account of the Mortgagor .!ll payments made under ihr• provisions of (.r,' of paragraph '
<br />hereof which the 1lortgagee has nut txcome obliR:ued w pay to the ~uc•retan' of !lousing .nd !'than Development
<br />and tuts batanc•e remaining in the fund- accumulated under rho pn+cisions of rri of para•raph :' henvf. If there
<br />Shall be a default under any of the pmxisions uG this mori>;ar;e resultittR in a public salt` of the premise.. cove^red
<br />hereby, or if the MartKagee acquires the property uthenvise after default. the Martgttgee shall apply, at the time of
<br />the commenc•trment of such prod^edings, or :u the rime the property is utheneise ac•yuin^d, the balance then mmuin-
<br />ing in the funds accumulated under r!: ~ of paragraph ° preceding, as a credit :tf;aitist the amount of principal then
<br />remaining unpaid uneler ~:lid note, anti -halt pnrperly adiust ant paymems which -hall haxe 6t`en made under ,,,;
<br />of partigragih ~'.
<br />J. That the 1h?rtgugur wdl pay ground trot.. taxc•~. a,nrssments, water rates, and other gurernmemai ur aounicapai
<br />.;tlargrs. fines, ur tmpusittuus, fur which pru4tstun tt:++ tu,: ^~`~n made ttereinheft?re, end in default thereof ihr \furigagrr ma_4
<br />Hat the a-nr.;and that the `viur{g:agor wilt nrumotie ueit+-! •`• -tthciai receipts therefor to the Murit<.attre.
<br />?. lhr Murtgag+sr wilt pay a!t {rzrt -.: tri~fi r:+ee f+r irsard upa.+n the 41i.algeirce'~i interest iii writ 'ri i°state .tni; tatpr.n r.
<br />..., ,.- -_ - ,w ..emu atun {:.,, ... ,{'t~agr ;. ,... _...w .. _... !i? !.._ - .: :.._. .._, - -_ - -
<br />'t l:t=tae. s-;.r ~.{{1'~ .z {t'-~' r~.'.:'.^_{ { n--.t ; `ik ~:!t n . :.,1zY{hi- tt ~.- ~- ~_ hl±r t~usir ~ ~u} uf~,nrr tz:i ` ti~l~a. s 1--r:±eraf,
<br />imposed on biurtgager. enJ will file the utticral recrtpt showing sorb payntrnt with the ~iaartgngrr. !pun ~ wl;tuun of this undrt-
<br />taking. ur if ihr Mortgagor i. prohibited ht ens !aw now ur hereafter existing from paying, the whole ut any puruun o`i ihr afurr-
<br />said taxes, or upon the rendering of any coon decree pnahiMUng the pa} ntrnt h} the '\iurtgagur ur any such taxes. ur d such law
<br />ur decree provides that any amount su pail by the \lortgagur shall hr crrditrd un 4rr aaortgagr debt, the Mortgagee shall ha+c
<br />the right to glee ninety days' written notice ru the owner of the nturtgagrd prrntisrs, rryuiring the paymem of the mortgage
<br />debt. !f such Holier he given, the said debt shall become due, p:+y:drle and adlrchblc at the rxpirstiun of said Hiner} days.
<br />h. That should he fail to pay any sum ut keep :my ~~tn~vnaut pro+rdeJ for m this Mortgage, then the Mortgagee, m io op-
<br />[iun, ns;ty pay or perform ihr same, and ai{ zxixnditures su made shall be added to ihr pnncipal sum owing un the ahooe note,
<br />shall tie set ured hrreby.:{nd shall heat interest et the rate set forth rn the paid Harr, until paid.
<br />'that hr hereby aanigns, uansfrn and ,ets over to the 'viurtgagrc, to hr, applied toward the payment ut the note and all
<br />sums secw'rd hereby in cast of a default u! the. prrtonnancc of any of the terms and cundiuuns of this Stortgagr ur dtc ,aiei
<br />note, all the renh, rcvenurs and income to br denved from the na>ngagrd prenusrs dunng such nine un the uturtgagc indebted-
<br />ness shat! remain unpaid; and the Mortgagee shall ha+r , owrr to appoint um .igrut ui egrnb tt mu} desire for the putponr of
<br />repai€ing staid premises trod ut renting star same and c;>tlrcting the rents. rrvrnues end iniumr, and it Wray pay tut of s:atd in-
<br />come5 all c;dprnsrs of repauitig said premises and nrcrssxry caxmnrssuxts :and cxpritsra ittmurrrd in rearing and munagtng the
<br />same and of caIlecting rentals therefrom; the balance remaining, if any, to he xpplirci toward the discharge of said mortgage
<br />indrbtzdnriv.
<br />- fha:: ° ~:lt ~ e _ .ha tate~~tae,:. a.-~ fi~?n ..!"st+riri ~+r ti°=ca{t:., . - Uit .. - rti~=; i~::F,c:t pi;?ttrt:- !'t±.~ts'~ ::s t, _ , t
<br />rrctuucd frurn 'sine to irtne`hy !tic 3ivrita{;r •it;arnst ta;s he :ire anJ ut;tcu h,:.ards, <:t- t lifter :aau 4i?nung~t{.trs „a~;u.it
<br />amuuuta and fur such preicals ac ma} hr reyuirrd by the Mortgagee and wilt pay prumptlq, when due, any premiurus ou su:h
<br />insurunrr provisiutt fvr pavrnrnt of which has nut been m:sdr hercinhcfure. \II insuran~r shat! hr irtrrird in ~umpamrs ap
<br />pro+~eil.by ihr ifurtgugre- attd the twhcies and renewals thrtrut shall tx held 6y the Murtg:~,er and hose aua.hed thereto inns
<br />payable clauses in fasur of and in form aicept.+hlr to the Mortgagee. in evrtu of loss \turtgagur will gi+r amn!rdia[e nou4r h+
<br />moil tRa the hiortkagrr, who rtiat trt:alcr proof of toss if nut mash promptly t±y ?4lurtgttur, and eavh iosurancr .umpau+ :un-
<br />crtncd is hereby atu{hurided :tnd Jirrctcd to atraalse p:!ytttrnt fvr tut h ;ass dirr~ti} to the Murigagze ins! d of ts: th ° \t..rigat;iw
<br />anti ihr Ma+rtgugCe jointly ,and the insurance proceeds, ur any part thereof, Hatay he applied by the Mortgagee at its upttun either
<br />N+ ihr teduciiort pf the itidrhtrdness hereby secured ur to the rcator.+tian ur repair of the property damaued. In r4 rot ++t turecl.+
<br />sure of Ehis muttg:~c m ort~t irannfrr +rf {itlr to !hr nrurt~.tgrd ptuprrty m euingui.hmcnt of the utdehtednrs. se.u! cd hrret+y .
<br />atC right, title art) intrrest .?f the. \ivrtgag ++ in :{rid to an} in.urau:e poh+ ies thin in fur: e +hatt pats to the purchaser ur grantre•
<br />4. ~lltat as aSJHatnal and cultatrrat x Cutity far the payment of the ^ute des:ribed, aatd al! runts tss hzc.+ntc•+tttr undea than
<br />m:rtit3g<: {tar Sic+rtg;:gt?r fie ^t,~ , sign: !s? !hr 'bfurt¢,sg:e :it f ruhts. ! e'c"ttur-..*:+}a!!xs, r!gh!s a;td trrr!c`t!ls _._rtnnt; {i, ihr
<br />:i4 ...._.....t - a . t. -~ .ua .. t - Ld tY t`t ' .,_t , _ ,t .
<br />air,„ nai;t4° art. at. alt r ;,., taxes :it. -.a, tst; i;e°; wilt: t , tag. ,...t<~t.e :,... . •cri,{ tt~r the x,. :n. ,i}
<br />tle,^na tc saiJ irtdth~Jnc+'s a~ welt k~furc e, after deftt~tt iu the <unditi.±n. of this n ~ -teak-:and Ihr 11ot {c^ure m,:+~dranar {~wr
<br />r„r .!Flat .-.~ .. ,. „ -..;1. t:.4-.... , .1 .t..- ... :I n;!v~htn.'A3.. =1,.dat t -{ t+F relit :, ,. ..~ {-` 'tea, ,. a~,!,r?rnt ~~ t:, trrnttnair
<br />and ttztaaic Waal! anti s tnd !tp~tn roka•r ,tf this in,•rltt:n~,c~.
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