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<br />i l) rnanth prior an tts due date the annual mortgage insursmct prtmium in order to provide such holder
<br />with funds to pay surfs premium to the Secretary of i-fausing and Urban t;zcelaptnent pursuant is the
<br />National Housing Act, as anxrnded, and applicable Regulations thereunder: ar
<br />(tt) If and sa long as said note of even date and this instrument are hekd by the Secretary of Housing and
<br />i;rfian l3evefopment, a monthly charge (in lieu eja morrguge insurance premium/which shall be in an
<br />amount equal to one-twelfth (k,r12} of one-half (112) per centum of the average outstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments;
<br />(b} A sum equal to the ground rents, if any, next duc, plus the premiums that wffl next become due and payable on
<br />polkcies of fire and ether hazard insurance covering the mortgaged property. plus taxes and assessments next due
<br />on the mortgaged property (all as estrmvted br the Mar{~ageel Irss alk 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 />assesstents will beaxne delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxis and special assessments; and
<br />fc} Alt payments mentianrd in the two preceding subsections of this paragraph and all payments to he made undrr
<br />the pate secured hereby shall be added together-and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a stnglr payment to be applied by the Mortgagee ro the #otlowing items in the order set forth:
<br />Q} prrmiunr charges under the contrset of insurance Math the Secretary of Housing and urban Development,
<br />or monthly charge i.n line ~+l mnrteage insurance premiunrl, as the case may be;
<br />(11) ground rents- taxis, assessments, lire and other hazard insurance premiums;
<br />(liI) interest un the note srwrrd hereby; and
<br />{IV) amortvation of the principal of said Harr.
<br />Any deficiency in the amount of :ury such aggregate monthly paymtnt shall, unless made good by the Mort-
<br />gagor prior to the due date of the next such payment, constitute an event of default undrr this mortgage. The
<br />Mortgagee may collier a "late charge" Hat to exceed fix:r rots i4~tt six each Dollar {41) of each payment more
<br />than fifteen (l S k days :n arrears ua cover the extra expense involved in itattdling Jelinquem payments.
<br />a. 'That if the fatal of the payments madr• b. the tortgagor tntd.^r t+~t of paragraph 3 prc•t•eding shall exceed
<br />the amount of puyment~ achtally madr• by the Uortgagee for _rmund rE•nL~, taxes and a.~ea::ments or in~ur;tnce pre-
<br />miums, u- the ca.~e max he, <uch excess, tt the lu:ur is current, at the option of the Mortgagor, shall rte credited by
<br />the \brt~raKee an ~ub~equent pay'ment~ to be mode by the \lrrgagor, ar refunded to the \iartRagor. If, however, the
<br />manthl} payment.-. made by Ehr Mortgagor under : ?.; of pangraph 'preceding shall nor be sufficient to pay ground
<br />rent, tuxes atnd a.e~raments or knsurant•e premium, as the case may be- when the name shall bt,come due und pay-
<br />ahlt•, thin the \ktrtgagw -hull pa}• to the tiortgagcre wn amtwnt neci~s.ary to make up the deficiency, on ar before
<br />the. date wht•n itxymPnt of -ttc~h ground mot=. taxt•.-, :ts..cs~ments ar insurance prrmium~ shukl be due. tf ut .uty
<br />time tht• liutigagor shall tender to the ttortgagev, to acrordanc+• with the proxisiuns of the note setvnd hereby,
<br />fuck payment of the t•ntirr indebtedn+~-, mpm-E~nted thembc. tha \iortgugee <.hul1, in computing the :[mount of Hoch
<br />ir.drbtexinest:, credit to the accitttnt of the 4fortgagur all payttrents rnzike under tktc provisicats of tell of part~tgraph 2
<br />ht~reof which the tinrtzugee ha- Hat bt•rame obligau•d ur pay to the ~E•cmtary of fiou~kng .rut t'rhun Development
<br />and any botanic remainiaQ in the funds accumulaual ender thrr pnrsi::ion< ul':' ul' paragraph 2 herta)t. If there
<br />~hatl he a default under any of the pmci=ion- +.f chi- mort~ag+• re•~ultin,g ut a public mule ,)f the premi.~es cavemd
<br />ht>rnhv. ar if the \torta!aKee acyuire~ the pnrperh otherei-e afu•r default. rho \tortg:tgee -hall apply, at the time of
<br />tha rommenerment ul much proceetking-, ur at the ume the prapeny r~ atherwr~t• acquired, the hal:mcr then n•muin-
<br />ing in the (ands uccumulau•d under ~': of paragraph ? preceding, a-~ a +n•dit akahr~t the amount :+f prinripul then
<br />mmaining unpaid under maid note, and -halt pmpe•rls adjust ant putnu•m< +ahch -halt hate been madr• under tnl
<br />of ptaragrttph ~'.
<br />J. that the Sfungestw aatll 7+.n grounat 'rot,. !rive,. ..,,e+,nrrnh, +aatrt rac,..end +,thee goarrnmental or nruniripai
<br />charge^•. fists. ;+r :mpaauie?its. •,:r ,)herb pr„s:a:a=r. h:+, nt:t been rn;tde herrmhrtorr..,nd m +krfuukt their+al' the \kurtguget may
<br />the i ehae ,k.e a4E.z,M - - - + _ _ ,k~ -..k r _ .k r{:,
<br />p.~y amr: unit , , , .-. .. .. .+tfic.,. tcetp , : cr_..-r t;=she ~ts:rtRai;c-;.
<br />, i~ 4ic,rtragc,r +,! ;._- ~:k'`^.«t,5 ;.. --- = - L`~" a -etd uth_.r tht tf;>rtga~er'ti tnt;:rset rn -atd real estate :rid imprttvr-
<br />rttetns.'anri ~tR#4.h ntat i`S k'a rrtk :spun tttt, •n nt~,t~e +?t f`ne +iek+i ,e~,arid `nrrcn?_. tt+rri +,rar a' [u tits extent that ,al=it 1, n[}t pra,nihii-
<br />.:1 t,=' tart ~,r..1 ....+. rt, rl.> r.ar,o+ rh~e •.:_1, ,a.!1 .4_.e ;,4_,ek.. th+, l.v,n ,+u,n,tu.+, h4tt r -i'14k.ltnn airy nra,n±r ta} it:+tr +y t~rderal,
<br />imposed on Stortgaerr. ,and a+di rile the oif~ia.+I receipt ,huu mg ,ash nut ntrnt unh the ifartgttlter +t~pnn vialaUun of this undrt-
<br />taking..rr tf ihr \kwtlaEar :, ru#tr#vttd ht ;tn::aw nr,u or hcteafter rxrs#ing fa,m pat trig the v hate ar :my p:vtian u(ltte atorr-
<br />,arJ taxes. or up+m the rrnJrrmg nl am .Dori dc~rrr proittt+rnng the pat mint ht thr \iuttgugor ar an} ,uch taxis, ur if .uch tau
<br />ur derrrr pia. ids, that er» :unaum ,u p,,rd h} the ?iortgagor ,hall he rreddrd nn the mortgage Jeht, the ilurtgagrr ,hall have
<br />the right to give ninety daa- wnnen na,rice a+ the rwnrr of the mortgaged premiers. reyuiring the payment of the nnartgagr
<br />deM. If .uch Hoare i)e gitrn, the ,aid Jrbt ,ha{! become Jur- pa}ablc :rid tullectihlc at the expitatiun of said ninety da},.
<br />h, fhat ,huuld hr #aik !u pry ny ,out ++r keap ono auvenant pn+vided tar to [hie Mortgage, then [he hturtgagee, at its up-
<br />tiun. ma} pa} or perform the ,ame, and all rxprnditurrs .., made ,hall hr aJJrd to the print ipal sum owing on the abaci m+te,
<br />shsJt i+r srrured hrrrh} ,anJ shall hear mtercst at the rate eel forth in the ,aid note, until pail
<br />'. 't'hat hr hrrrh} assrgne, uamfrn and ,et, met to the \fongagrr. m hr applied toward the pnyntrnt of the pure aoJ all
<br />win, ,reared hrrrh} m c;,ar ut a Default m the prrfarmancr of an} of the term, anJ conditions of thie Jtortgagr or thr cold
<br />Hatt, ail ihr trills, revenue, :utD :n+;::r:r to tz +frr:trd from the mortgaged p:rnner, during euc h tints :ts the mortgage indrhtrd-
<br />ncss shall remain unpaid: ;tnd the Nortgager eh•dl hate pow rr a! appuim ant agent or agents n may desire Gtr the purpose of
<br />repairing wid t~remisrs anJ of rrnun4 the same enJ cullecung the rents. rearnues and rnrumr, and rt entry pay out of vriJ in-
<br />cururs all rxpensts of repairing said premises aad necessue} consmrsiom oink expenses incurred in rtntmg :rod managing the
<br />santt ;mJ of u!tlecting rentals therein+rtr: the hakantr rcmuurtng. rf an}-. to hr :tpptied towarJ the Discharge of said uwrtgugr
<br />rtldebtEifl~SS.
<br />8- '11iat Ia! aill keep the rmpruvrmrnis noa rxi,ting ate hrrruftrr errcteD on the nxartgagrd property. rmund ae may t>r
<br />rrtiuired from rime to time by the \ittrtg:tgrr against loss h} tier anJ other ha~ardx, ca,ualtics und cunturgencies in ,uch
<br />:tmountx alai fear +uch petiitJs :ss may he reyitirrd f+y ahe !tiurtgager and a:ikl pay prampttx, when due, any premiums on such
<br />inu.wr._-r ,^.rtrstst:m fc): ,^.-al::tr.^.t arf +vi:xk: h_s Hat trtrn maJr hrrri:xhefore.:>!! insurunvr ,ha!1 hr .:Dried in tampantr, :!{+-
<br />pravrJ h} t)ar Nortgagre arni the puhi:irs .utJ renewals thereof shaft hr hekd by the ~fongagre anJ have alto: lied thereto lo,e
<br />t~yx#kE C{ate+~s to fat-ut a+t und in farm :~:crptut*Ir t.}the '*fartg~re in rvetrt ++f ke+ns h9ortgagor wrik gr.r ;m!arrdialr Hauer by
<br />maif tst tl~ Mortgagee. wfxo may make prosaf of tae, if Hat maJr promptly h}• Mortgagor, and each insurance company con-
<br />crrttrd i+hrrrh} autM,ried anJ JitrrteJ to make payment fur such loss Jire.tly to the Murtgxgrr mstestd of to the Mrartgugar
<br />aad ifzt kiartitargrr forrrtfy, and the insurance prncerds. ar any part thereof, nray he applied by the Miuigagre :rt its i,priori either
<br />t., t): rrafutfh'tet of the indthtednecs ftrrtby atct,rrd or to the ;rah#ation+tr repair of the pr++perty +I.:magrJ kn ra rm of furr~ka-
<br />~utr oaf rhea mrartga,~C<• or ufhtt tran>ftr of tstte to the mortgaged prtaptrty ut eximgutshment of the tndehtrdnes+ xcured hrrebt .
<br />all rtgfat, tits anti infrtr,t of iht !atnti.C;ags,r ur and ht any insurance politic. thin w force ,balk pose to the purehaeer ar grantrc-
<br />+i 7hrt;+<,zd'duwxttrt &nrJ d.dtuterat tcaunt} for the haytnrrll of the note des.r+tteD.:utd ai uun~ t:. become duc undrr this
<br />utxetta~.t rht tf.tt'taw t>srrk+y ;t+r+~n, t+• the 'M art!zrgrr .tlt prutit,: rrarnors, toy:dries. ~ryhts .trd hxnrhts .ticrutn}i t++ rise
<br />'fttr tttts#tt any ;rod +tli cytl arx,} gsk %r:t+rt +m ,atJ itrrtrrr+ts, with the right t+, r?ctt+r ::rid rr::ript tar the ,amr .tnd :tpplr
<br />riam t6 vain" irxie~+fYrti7it,6'`. is ++aki ftefisrr a, ;titer a#efastii rn the ct+adr"stone of this mettiFage. ;+nd the t9+,rig'rgrr rnat De n:anai. •.ur
<br />fart trrast cra,:• er .+s: ~ku,.kt .t rsfentc ++hr. n +:ar .a€:r+ pxyahlt, 'tit[ sisakk rt;,t 'nr reyurtrc? ~-..+ t-,. i lira .+,=tt;rnarnt s, .+' t,, r=nnatr
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