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{1) rrirmth prior to eta due date- the annu,il mortgage insurance premium. in orda:r to provide such holder
<br />with funds to pay such premium to the Settetary of Housing and Urban Development pursuant to the
<br />Alational Housing Act. as amended, and applicable Regulations thereunder: or
<br />(It) If and so long as acid note of even date and this instrument are held by the Settetary of Housing and
<br />Urban Daraloprnent, a monthly ettarge (in lieu of a mortgage insurmrce premitem) which shall be in an
<br />amount equal to one-twelfth {I/12) of oar-half (1/2) 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 fo the ground rents, if any, next due, plus the premiums [hat witl next become due and payable on
<br />polkies of fire and o''ter hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />txt the mortgaged property (all as estimated by the Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before Otte month prior to the date when such ground rents, prendums- taxes and
<br />assessments wit! became delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />mituna, taxes and special assessments; and
<br />(c) All payments mentioned in the twe preceding subsections of this paragraph and all payments to be made under
<br />the note xcured 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 to the following items in the order set forth:
<br />(I) premium charges under the contract of insurance with the Secretary of Housing and Urban Development,
<br />or monthly charge (in lieu of mortgage insurance premium J, as the case may be:
<br />(I!) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(III) interest on the note secured hereby; and
<br />(IV) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mort-
<br />gagor prior to the due date of the next such payment, constitute an event of default under this mortgage. The
<br />Mortgagce may collect a "late charge" not to exceed foot cents (4,t) (or rack dollar ($1) of each payment more
<br />than fifteen (151 days in arrears to cover the extra expense involved in handling Jelutquent payments.
<br />3. That if the total of the payments made by the Mortgagor under /b) of paragraph Y preceding shall exceed
<br />L'teo.,~:~.t of pay.-ants ar'tually merle by Lhe Mortgagee for trotted rents, taxes and asses:±ments or insurance pre-
<br />miums, a the case may be, such excess, if the luau is current, at the option of the Rtortgagor, shall be credited by
<br />the Mortgagee on subsequent payments ut be made by [he Rtortyzagor, or refunded W the Mortgagor. if, however, the
<br />rnonthty payments made by the Mortgagor under 161 of paragraph _' preceding shall not be sufficient tv {rev groonJ
<br />rent,, taxes and assessments or insurance premiums, as the case may be, when the same shall become due and pay-
<br />able, then the Mortgagor =hall pay to [he Mortgagee any amount neoessaty to make up the deficiency, on or before
<br />the date when payment of such ground rent-s, taxes, st-~'~esment~ or insurance premiums shall be due. if at any
<br />time the Mortgagor shall tender to the Mortgagee, in at•t•ordanre with the provision- nE the note secured hereby.
<br />full payment of the entire indebtedness represented themby, the S1ortFagec shall, in computinlG the amount of such
<br />indebtedness, credit to the account of the Mortgagor all payments made under the provisions of ta) of paragraph _'
<br />hereof which the MortgttgEe has trot become obligated to pay U+ the :rcmtary of (lousing _nd l'rban [)evclupment
<br />and wry balance remaining in rite funds act•umulated under the pnevisions of /'~/ of parul:raph .' herc•r+f If there
<br />shat! be a default under wry u( the provisions of this tnortkage resulting; in a public yule of the premises covered
<br />hereby, or if the Mortgagee acquirns the property otherwise after default, the M1ktrtgagtee shall apph, at the time of
<br />the commencement of such proceedings, or at the time [he properly is otherwiso ucyuired, the bxl:mce then rem~in-
<br />ing in the funds accumulatcYi under ±!~g of paragraph :.r preceding, :t:-' a credit against the amount of principal then
<br />remaining unpaid under said note. and ~IraEE prrvpert} adjust any payments which -hall have been madtt under rrxl
<br />of paragraph Z.
<br />4. That the Rtuagagor will pay ground rents, taxes, assessments, water rate,. and other governmental or mumcipai
<br />charges, fines, or impuxitn+ns. tar which provision hex not teen made hereint+rfure. and in drfaalt thereof the Mortgagee may
<br />pay` the same, ant that the .'+3LrtYSr vFatl pr- ropily deliver the ruficial receipts therefor to the Rfurt>~er.
<br />3. The Mortgagor will pay all taxes whwh may he Irvted ulxm the Mortguger's interest in aatd real estate and impruve-
<br />trtt:nts, and which-may 6e levied upon rhix murt~ t+r t.'~ :3rbt ~t~ured hereby tout only to the extent Shat su4h i+ not prohihit•
<br />ed by taw-and unty° t~s t-ve rxtzrtt that s+tc:h ui41 nut make thix h?an usttrtuts?. but excluding arty income tax. State ur Federal,
<br />imposed un Mortgagee, and will file the uffiiial receipt showing cash paymem with fie Rortgagee. Uptm vivfauan of this undrrv
<br />taking, or it the Mortgagor is Drohihitrd by any ;aw now ur hrreafrer existing from paying the whole ur any prxtion of [hr afore-
<br />said taxes, ar upon the rendering of any court detect Druhihiting the payment by the Mortgagor ur any such taxes, ur it such Inca
<br />or decree provides that any amount so Daid by the Mortgagor shall he credited un the mortgage dtht, the Mortgagee shall have
<br />Iha right to give ninety days' wri[tm mvtice to the owner of the mortgaged premises. reyuiring the payment of the mortgage
<br />debt. If such notice be given, the said debt shall bexome due, payable and collectible at the rxpuativn of said ninety days-
<br />4, That should he fail [o paY any sum or keep any covenant provided for in this Mortgage. then the Mortgagee. at its up•
<br />tiara, n#ay pay tx perform the same, and all expenditures so made shall he added to the principal sum owing un the atwve note.
<br />shat! be secured hereby, and shall t+rar interest at the rate set forth in the said note, until paid.
<br />7. Thai he hereby assigns, transfers amt sets over W the Mortgagee, h+ hr applied rowarJ the payment of the note and all
<br />sums secured hereby in case of a default in the pertcxmaace of any of the terms and conditions of this Mortgage ur the said
<br />note, alt the rents. revenues and ittrome to he derived from the mortgaged premises during such time as the murtgugr indebtKd-
<br />rtess shall remain unpaid: and the Mortgagee shall have power m appoint any agent or agents it may desire fur the purpose of
<br />repairing said Dmmises acrd of renting the same and ctvtketing the rents, revenues and income, and it maY pay cwt uP said in-
<br />comes ail expanses of repairing said premises and necessary tvmmissions and expenses irxurred in ranting and managing the
<br />lama and of txvlkCtiag rentals therefrom: the Iarlant-e rematning, if any, to he applied toward the Jisrharge of said mortgage
<br />indebtedness.
<br />g. That he will keep the impel+vemrnts now existing rN hrreaftrr erectrJ on the mortgaged Property, insuraJ as may be
<br />ratluirad horn tiros to tittle br the Rto€tge agai~'rst loss by fire and other hazards, ~asuakie± and cuntingrnciex rat xuch
<br />amuttats at~l for such periods as maY (ve reyuired by tltr Rortgagee and will pay promptly. when due- any ptrntiunts un such
<br />insurance provision far payment of which hex nut hero made hrrrinbefore. Aq insurance shall he carried in companies ap-
<br />proved by the Rtartgagee arut the policies and renewals theta+f shall be held by the Mortgagee anJ have attached therrto loss
<br />payaltk atauaes in favor i+f and in form acttptable to the Mortgagee. In event of Ions Mortgagor will give immediate nonce by
<br />tnatY to the Rfortgpgee. who may make proof of loss if txvi made promptly by Mongagur, and tech msttraner company cun-
<br /><•arned is hereby authorized and directed to make payment for such loss directly m the Mortgagee instead of to the Mortgagor
<br />atki the Mut•ty+gee jointly, and the insurartca pi'taceeds, ar any part thereat- may be applied by the Mortgagee at.its option richer
<br />to the rridaCtliNt of the indebiadnexs hereby secured or w the resturatitrn xx repair at the property damaged. In event of foreclo-
<br />surc of tMs martgaQc trt other transfer ut title so the mortgaged ptnDerty in extinguishment of the indebtedness secured hereby.
<br />ati rift, title atat iMaroxt of the Mortgagor in and tv any insurance policies then in Curs:r shu11 pass to thr purchaser ur gr:+ntcc.
<br />~. That as additional attd collataral;wea:urity° for the payment of the note desciibed, and all sums to hea,me Jar under this
<br />trsvtrtgtrgr. the Moriggagtsr hereby assigns to the Mortgagee all profits, revenues. ruyJltirs. rights and henr#its accruing to the
<br />fNtwtgYgtrt utvdrr any and alt sett and gas leases +m satd prtmet+rs, with the right to receive ;:nd receipt fat the same sad apply
<br />them to srid ittdet4tttinr>•x as wrt~ bef+,rr as after defaaff is ihr cvndiiivas of this mursttatre.:=r,J tl:r ltuttgaP~a may aemaud. sue
<br />for and rrix++rr arty such payments when due sad payatrk•. but chaff rk # ~ re.g+urrJ =u tc, cio This ;+ssignment is to termina[r
<br />; _ ~,.u ~-+ acrid ok~+tt rsRase c,t ,hi4 ;s+,rt
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