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<br />{I }month prior to its due dace the annuat mortgage insurance premium in order t,u provide such holdtr
<br />with funds to paY such premium to the Secretary of Housing and Urban L)evelcpment pursuant to the
<br />Nations! tlaus}ttg Act, as arttended, and appiicahle Regulations thereunder; or
<br />{II) [f and so }artg as said rwie of even date and this instrument are hetd by the Secretary of Reusing and
<br />Utisart Devefoptstent, a mm~thiy charge Ito tietr of a rrurrtgage irtsumnce prtemrum) which she}} be in an
<br />amount equal to one-twelfth !1112) of one-half (1/~) per centum of the average outstanding balance
<br />due on the Hate computed without taking into account delinquencies or prepayments;
<br />(b) A-sum aqua! to the ground rents, if arty, next due, plus the premiums that wilt next become due and payable on
<br />policies of fns and other haaaed insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (art as estimated Gy the Mortgagee! Tess a}! sums already paid therefor divided by the
<br />number of months to elapse befnre one month prior to the date when such ground rents, premiums, taxes and
<br />assessments will bccotne delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special a~asments; and
<br />(c} All payments mentioned in the two preceding subsections of this paragraph and alt payments to be made under
<br />-the Hatt secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month itt a single payment to be applied by the Mortgaget w the fi,llowing items in the order stt forth:
<br />(Il promitm~charges under the contract of insurance with the Secretary of Rousing and Urban Ueveloprnem,
<br />ur monthly charge (trrtteu qT rnnagage iusumnre ttrerntwnL as the case may be:
<br />([tj ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(i11j irtterest on the note secured hereby; arxi
<br />(IV) amartizatton of the principal of said Hate.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mort-
<br />gagor pear to the due date of the next such payment, aenstihrte an went of default under this mortgage. The
<br />Mortgagce may csa!}ect a "{ace charge" nut to exceed four cents f 4tt1 tar each dollar I51 i of each payment mon
<br />than fifteen f } 5) trays to arrears to cover the extra expense urvolved in handling delmgttent payments.
<br />:3. That if the rata! of the payment-~ made by the HnrtRat;or under r `~ 1 of paragraph '1 proredinK shall exceed
<br />the aarount of pavatenta acwallY made by the tionpager for etnund rents. taxes and asse~~ment~` ar insurance pre-
<br />m}tttr4~, as the rase may l:p, such exce4s, tf she f!>£trt rs current. at the option of the ~kxtgagor, shall be credited h}'
<br />the Hortpagee on -ub~yuent paymentt^ to tx• made by the llonpa{ror. or refunded to ihr ~ionRaKor. If. however. the
<br />tnttnthiy payments made by the !Natga[tur under tl i of paragraph prrreeimg shat) nut hr sufficient to pay ground
<br />rent, tads yard asriesttretentrt w insurance premitrmN. a,+ the race may be, when the .~ume ..>hull become due and pay-
<br />aMe, then the \1tx•tgt~ar ~ltall pay to khe tMnrzuuee an} arttount neces•"ary to make up the deficiency, on or beforn
<br />thre date when pryment of such Around rents. taxes, a-sresKmont~ or in~uranre premiums .-haH bt> due,. if at any
<br />time rite MorlRttgor ,hall iertder to the 1Mnga#;ee, In ura•srrdanrr with the provi-iun~ of the note ~er•uresd hereby.
<br />full payment of the entire indebtedne:=>: repn•sertted thon•b}. the ~tonaapec =hug, in computing the amo„*tt of such
<br />indebtedness, credit to the xccuunt of the Mortgagor ,yli paymcn:s made muter the pravisitrns of (aj of paragraph 2
<br />hereof which the Stortka)Gee ha_•s twt berromt• obligated trt par w the >+rrnaun of Ilou~in,e ..nti l'rbwt Drvelulrtnrnt
<br />and anV balance rnmaininK in the funds atct•umulauvi under the pmvi~ian~ of %'~% of parag,ruph 3 hert•uf, If there
<br />hall Le a deiault urtder ant of the ptnvision~ of thi- mnrtgu{;e resulting in a public ::ale of the premises covered
<br />hernby, or i[ flit 11orEgagrtr acquire-~ rho prtperty otherwi:.e after default, the ykrrtgut;ee -hall applt, at the time uI
<br />the rummenctmyent of such pr«reeding~, ur at the umc the property i.~ otherwise acquimd, Utz balance then n•maio-
<br />ing in the funds arcumulata~d under ! -t ttf paru„ratrh 'Y pct=ceding, aW a crt+tlit against the amount of principal than
<br />reasuining unpaid undt r :-aid note. and Thal! pr+rperly ad}u41 any uayment-- which -hull have been made under r.+-
<br />of paraKrryth '«.
<br />~. !-hat khe Mart~utEw ev;}! t;as grr+und rem,, tavt> ..>rscments, w:ytrr ratrs..md other gavcrnmental scr municipal
<br />chartt€+. tines, ur int<ttositiun+, tar +khrrh pr,++e+u,u has s,s=s ; _. ,e rna;ie harcint,eturr, :end in default tftcrre,f the Murkgagr:e :Huy
<br />pay ihr byintc': tsrrt khak k}tC '=tin _g- s y.4t s r,s:sarott: , t C.:•v ni °ys re~Capt+ thrrrf ar is the ~irtrtita.
<br />c_ 1'he Mortt~usuor wdl pa} all toar> whyah ma, he trvtc upa,n rite Etortgugcr mrere t rn 'id rail start and trnpravc-
<br />rntn{s, and whkh may t,e levied upa,n flit + taxrgag€ oar sF~ dz s _ 4a;r€d ~ r°hr tftt t , _ :,, rn€ sx~.,t thy, _ eh is .a ~-t:thik=
<br />ed by !aw and itu4y to [ire ratrnt that .u~. ,ll r>t t ~ ~t r}u rtfa ~~~'~%, hit eacfudi?,~ qtr ~omt tea Staler ar Federal,
<br />imposed on Mortgagor. and wdl rile flit ufhiktl rccctpt >huwmg suc}t paymern with the Mortgagee. t-pun viotativn of ihta ~rk}er-
<br />tai:ing. ar if the Mortgagor rs prohybtted by any taw now ar hcreattrr ryisting !rout payrnt# the wltutt arc any pautum ul Ihr afarr-
<br />>aid taxes, or upon the rrntlcrtngaf any court drerre prahibtttng the payment by the Murtgager ur an} utvh luxes, ur if such law
<br />iv decrcr provides that any antuunt so paid t+y the Siurttt:sgax .hall he : rcditrJ un the rnurtgage debt, the Martgagre shall have
<br />the eiy+ftt to give ninety days written nuti4r to the owner of the murtgugrd prrmisrs. requiring the payment of the morigugr
<br />debt. li such mttKe be given. the said debt shall Itrcunsr der, payable and atllavtibte at the rxp}ratiun of curd ninety days.
<br />h. '3'hak should tar tai} to guy any sane ar kttg any caa snwr,t provided fur in this Mortgage, then the Murlgager. at its up-
<br />tK,n. ma}' pay iM p;rturm the same, and all expendttturs >at made shin! hr added to the principal >um atwtng on the abitvr note,
<br />.hall in >ecurrd hereby. and shall bear sntcrest at the rote set forth in flit said Holt. until paid.
<br />'t'hat he hereby as~iyns, transten and >cts aver nt thr Mortgagor, Co he applied toward the payment of thr txttr and all
<br />>ums urcurrd hereby in cast- of .w Jr(uu{t os the r+rrforntance of any of flit term> :tnJ conditions of this :liurigagc i,r the stud
<br />ttptr, aU the rents, revenues and maanc to br dcrivod from the mortgaged ptcnsises during such ums a> the mungagr indrbteJ-
<br />ttecs shall remain uflpani; sad the !dprkgagrt :hall hoer purest ta+ apttoint any agent ar agents it may Jrsue for the purpsrse of
<br />rrpairitittk slid prem}so+ :tnd r+f rentinte t}u some and tuI}e4ting ttte rants. ret,enues and itxume, and tt may' pay cart of satJ in-
<br />cvtittes tit} expenses of rrputrittg said premises acrd ttati'es:ary curFtmissiwts and expenses ittcuxxed in renpng aria! managing th,:
<br />soma aetd at eallectitpt rentals therehom; the balance renkarning, if any. to tx applied toward the discharge ui sun! murtr
<br />indrtttodrcexs.
<br />g. fTiat ht tct} i<erp the improyrmcnis now existing its h>~rss+``~: r .kr~# ut tfke „-•'ttt~agt"d gripzrt? , tnsttred us may }±r
<br />rt±t}tris^t~i tt`am time tit ttrnr by thz Martgage'e agarrtst }use } y here and c liar ha ar s..asuultics acrd cwtutsYottcira to such
<br />amuuats and fur stets periods us may be requited by tlx Martyattee and wilt pay prvmpkiy, whin due, an} pr€mtum> un coil,
<br />insttratft.`r prctvicicut for' payrncnt r,f whkis has nut been made herrtntxfore 1tl insurance sheit hr .arncd in cantpattio> ale'
<br />pruv~it by ttrc M~yagee sad the pu}i>~~s and rtnewa}s thercaaf shaf} be held hs the Mortgagor and have auachcd thcrrt+* toss
<br />paxab[C s:IaUSCB to fak(M aYf end m tMm acCCpiabit fir the Mortgagee In event of loss \turtgagor will give Imm€dsutr nutter br
<br />miul tit thlt !fdurtree, rv~t nxay make print! of !rtes if nut mode prompt}u by Mrutgagur, and each msurancr a atrnpany con-
<br />carmad fa hcFrtby muthurt~od and afira.xrd to rtya}tt payment ha such loss a}irertly to that Murtgugr:€ instead aF to the \iortt;a~ur
<br />attd t Marts iuinSly, sad ttte i,yttutanca proctcds. ur arty port ihere.rf, may he applied !ty flit Mcxiuagre.at its upti~n either
<br />tx! ifit redYEtidt! iii the tndohtodnxsti htreh>• +evtsra! ++r tt± the rtsturaticrn a,r repair of the }>rc perry Jamatted, 1st rvcnt of t.,rcc}u-
<br />sure ttf thlS rtMG?rt it ilther tranSfeF +tf tttk It! the moktttagrd prop€fk} to C%lyngulshltt€nl of rho Indrt,Irdnr~S Ott acrd hifrhy,
<br />tx€1 tigfal, !it}r and itttotrat a+f the Nurtytgtrr in and to any insutarraa patlicirs then in torct ahti} pass u. the purctu+aet sir grantee
<br />+f. That us adAitiattat and eadFatrra+ se,;utity tie tftc payrn+rnr u9 th4 nuts dt>cribod, and a1} ratan to bacuntc due under flits
<br />nu?rtt~tar. kh2 MasTttsattot trtrt:t+y assigns to i}aC hiortee '} pr r,,•ts, r€vat;t~s alto-= ripltts and houciitx ac,:ntittit ru the
<br />1.iortgagaitr urkfer anti sstsf ,fr sat srxi a feasts ern ~srd grrmi>z _. ==ith th€ rlgkat t .ea;enve :std rertrF+t fur rite 4ama and at!k'ly
<br />tt i#3 ;; da€~= ~ h tsrrfu€~ ~, eft€r c.~fatt}S.,~inf -the _~,rk#it~sn<.,1 rifts mt+rttaat,Ee..md rhz tiurtgattCe may aktnattd, vita
<br />,#C, tit rah~l! ~`?t ~ r~•a xar '• ~. .+~ ±t+, fAis ;t»rYttm€nt is tE, tenntnat€
<br />f+fr arts! rate+•€r ~flt .vih t*:eynscnts `wfrc v Ic >x::•i t'~} _~
<br />;rrtd ht~atnc ataf} attd }„lei u~, r, rke:,ae f chts rtes+ttga~
<br />tt Lit!Sr 2, ~JAt c#it~!
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