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<br />(1) month prior to its due: date the annual mortgage insurance prernium in order to provide such holder
<br />with funds to pay such premium to the Secretary of Hauling and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder; ur
<br />(II) If and so long as said note of even .date and this instrument are held by the Secretary ofi Housing and
<br />Urban Development, a monthly charge tin lieu oja mortgage insurance premium) which shall be in an
<br />amount equal to one-twelfth (ljlz) of one-half (1/?) per contain 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 due, plus the premiums that will next become due and payable on
<br />policies of Gee and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (aI! as estimated by the Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one, month prior ur 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) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shalt he added together. and thz aggregate amount thereof shall he paid by the Mortgagor
<br />each month in a angle payment to be applied by the Mortgagee to the following items in tiro order set forth:
<br />(I) premium charges ceder the atn[ract of insurance with the Secretary of Housing and Ilroan [)evclopment,
<br />or monthly charge I in liter .,/ mortgage insurance pmmiurn/, as the case may be;
<br />(ll) ground renu. trues. assessments, tare and other hazard insurance premiums:
<br />flll) interest tin the note secured hereby; and
<br />QV) amurtizauun of the principal of said note.
<br />Any drticiency in the amount of any such aggregate monthly uayment shall, unless made gaud by the Mort-
<br />gagor prior to rhr dur date of the next such payment, constituce an event of default under this mortgage. The
<br />Mortgagee tray collect a "lair charge" nu[ to cxccrd that ants (-tq) for cash dollar ($1) tit each payment more
<br />than ttfreen f l 5) days u+ arrears to cover the extra expense involved in handling delinquent payments.
<br />a. 'that if the total of the payment. made by the 1lortgugor under rLr of paragraph " pmceding hull excetrd
<br />the amount of payments actually made by the ~lortgugee for erounti rcrot~, taxes and as~c:..ment.~ ur tn~uraner pre.
<br />miuma, a- the ca.:e may be, such excess, if the loan is current, at the up[itxt of the 11ortKagor, shall tx credited by
<br />the 1lortgaftee on subsequent payments w tin made 6y the Mortgagor. of refunded to the lktrtgugur If, however, the
<br />monthly payment, made by the Atuttgagot under r h; of paragraph _' preceding shall nut he sufficient to pay grexrnd
<br />rem E, iaxe. and as,e4smenGS or in~uranet• premium., u.~ the case mny be. when the Fume shalt become due and pay-
<br />ablc,. then the :lkxtgagor shall pay to the itortguge+~ am amount neces~an to make up the deficiency, on or before
<br />the date when payment of such ground rents. taxe.-.:rst•-~menir or insurcmct• premiums Shull he due. tf xt any
<br />lime the ~Htrtgagor =hall tender to the Alortgngee, in :u•r•ordance with the provisions of the note secured hemby.
<br />fall payment of the entire indebtodne-~ represented themby, the ~Iprtgagee -hill. in computing the amount of ~ur?h
<br />indebtedness, credit ro the acrtwnt of the Mortgagor all paymerrts,m;ule under the provisions of a,• uF paragraph. ~.
<br />hereof which the Sbrtgagee has not bt•cnme nbli~ated h+ pay to the ~ecrotun of Ilou~ige -nil l than hevelal»nent
<br />and arty balance remaining in the funds ae•cumulated under the pnnisiun- u("; ul par:igrtph =' hr•rnuL U there
<br />shat! he a default under tiny of the provisions of this mort,•agr• re=ultink in a public -alr• of the pmmi~es euvenvi
<br />hereby, or if the Mortgagee acyuires the property- otherwise afar default, the \lurtgu;;eo hall apply.:u the time ulf
<br />the t•ommencoment of such proceedings, or at the time the property i~ otherwise acquired, the. teal:uur• then mmain-
<br />ing in the (ands ureumututed under; :.~ of paragraph _' pmeeding. as a credit aa;unst the amount of prinerpal then
<br />remuininl; unpaid under -aid note, and -hall properly adpast am payment.. which -hull huge 6eon made under ,.
<br />ref Irarut{raph '?.
<br />a That the lfurtgagor w-iii pay i;n+und rem,, taar,..u,r„mrnty. w:uer rate,..rnd i+thrr gayernntentat ur ;nt+nicipai
<br />+.har(xc.+, tint,. ur rmpu,itiun,. fur which pro,r,rim ha, nut hero made hrrrinhefurr. and in drfuult thrreut rhr ~t++rtt:at;rr mac
<br />p#+y tht ±irnrr; ,rod that rhr Murtga4ur Witt prumntfy drliyer the ulftcial rrcrrnt, therefor to rhr Slortgagrr.
<br />y. the 41or[gatur will p.ry alt roar. whtclt nauy hr try fed upon rhr xiurtt€ager `, uarrr,t in ,:rid rrui t•,tate .red irnprt=ye-
<br />tttrttts, ,rust which may he icy red rrpua rhr :rlrrtgage ur the :icht scetirr~d trrrety tt*trf only to the c°atrnt t`t t .och et+t ptultttttt-
<br />by taw and only to rhr career that ,uch will nut makr ihi, tarot usunou,r. but eacludmg any rncumr ru..tiuur ur Federal.
<br />impnsrd tin R#arigagee, :rod will tilt rhr uHtci:rl rrcript,h~wrng wtih p:ryrrtrnt w ith the ~#urtttugrr. f pt+n , tuit+ttun.+f the trndrr-
<br />Inking. ur if rift 4iurigagur i, prohibited by any law now ur hrrrafrrr c°,r,ttnu frcr~r paying rhr whuir or<rny purfiut~ afi the afc,r+r•
<br />,aid tuxes, ur upon the rendrnng of any court drerrr pn+hihitmg rhr pati inter by rhr Munt;ugur ur any ,uch tuacs. or of wch Lrw
<br />or drerrr pruvidr, that any anurum su paid by rhr !t#txtgagor ,hat! hr credueJ tin the murtgagr debt. rhr Mortgagor ,haH have
<br />the right ur give ninety Jay,' written nuuce to the uwnrr tit rhr nrurtgaged premises, squiring rhr payment of the nwutga}tr
<br />deM. If such outlet he given, the said debt ,hall hreumr dur. payahlr and cullrctihle at rhr rapirutiun of ,aid uinrh dot,.
<br />t+, '1"het should he fait to pay any ,um ur kerp «myrovenant provided for in this Mortte, then the Murtgutre, at ats op•
<br />tiou, neuy pay ur perform the sarnr, and ul! raprndtture, ,u made ,hall he added to rhr principal sum owing on rhr ahuvr Harr.
<br />,halt hr secured hereby, acrd shall hear interc,t :+1 rhr cute •at tc?rth ^c rhr ,aid raft, until paid.
<br />7. "That he hrrchy :rssigm, uurofer, and set, oyrr tv rhr Mortgugre. to hr appled wwurtt the payment of rhr raft and all
<br />sum+ secured botchy i^ case tit a default in rhr prrfurmwrcr tit any of rhr rants ;utd condition, of thi, ~Atnrtgagr ~+r the sari
<br />Hatt, a!1 rhr rrnls, ravrnurs and incumr to hr drrryrd from rhr nurrigaued ptrnusry during ,ash time as rhr nrurtguge ntdrbted-
<br />nrss Shull renudn unpaid; trod the Mortgagor ,hall have puwrr ro appoint any agent ur agent, n may desire fur rhr purpose o[
<br />rrpniring snit prrmixrs ;end of renting the same and ctrilecung rhr rents, rrvrnuc, ,rod imame. 'and it nmy pay out of ,aid in-
<br />comes alt rxprnsrs of repairing said prrmt,rs and necesxary cummtssiuns arx! rxpensrs roeurted rn reeling and managing rhr
<br />saint and tit collecting rrmals therrfrum; the balance remaining, if any. to he upptied tow°urd the discharge of said mortga#se
<br />indrfttedncsx.
<br />N, '1'hnt he will kerp rhr improvement, now rusting ur hercuftrr rrrctrd tin the nwrtgagrd pn+prrty. insured a, may lye
<br />required from time to time by the hltrrlgngrr against hta, by her and uthrr hatards, c:uuultirs and cainingrncars in +uch
<br />amounts and for such periods as may` ivr required by rhr Mortgagor find will pity- promptly, wltrtt dur, arty prrmnuns tin such
<br />insurtrtkr peuvisiun fur puymrnt tit which ttu-_* trot f±rro made hrrrinhrfurr, A11 inauaacr .hall he carried rtt cumpatttr~ at++-
<br />pravrd by rhr Mortgagor :rod rhr ptdicirs and renewals thrreuf ,hull t+e heW by rhr Mortgagor and hnyr .uttrched thrreta lo„
<br />pttynblr clauses in fuvtre of and in form nkcrptahle to rhr \lurtgagee. In eyrnt tit' lus, Mortgagor w ill i;tyr immrdiatc uuticc h}
<br />mail to the Mortgagor, who tray makr prtwf of lus, if Hal merit promptly by Mortgagor, and r,tch utsurance avnpaaty con.
<br />cernrd is hereby authorized and directed to make payment fur such loss directly w rhr Mortgagee instead of h+rhr ak+rtgagvr
<br />arttFthe Mortgagor iuintty, and Fhe insurance prucrrds, ur any part theret;f, may he applied by the Murttagrr at rt, vpuun tither
<br />hr rhr reduction of the indrhtednesx botchy secured or [u the restoration tit repair of the property dtrrn:+t;rd. hi curet of hrrrclu~
<br />sure of this mortgage or other transfer of title to rhr mortgaged property in cxtinguishmrnt uF rhr indrhtrdnrs, ,rrurrd hrrchy,
<br />all right, title and interest of the Martgngur in and to any insurance puficie, then in force ,hall pass hr rhr pwchaser or grantee.
<br />4. `that as additional and collateral srcuriq far rhr puymrnt o[ the raft desrrihed, unJ all sums to hrcume due under thin
<br />mortgugr, rhr Mortgagor hrrchy assigns to the Mortgagor all profits, rrvcnurs, ruyaltirs, rights and hrnrtiN :rccnunk to rhr
<br />Mortgagor under arty and :dl oil and gas Itasca tin odd prentisrs, with rhr right ur rrcrrvr road receipt fur the same aad apply
<br />them to said indrhtednrss as well hrf ore as after default in rhr conditions tit this n+urtgagr, and the Murtgugre may demand, Sur
<br />far and recover :try such payments when due and payable, het shat{ ntu hr required w w ch,. -this assignment is u: terminate
<br />and I±ecurrtr null and void u~tun rrhstrsr •,t this rnurtgugr_
<br />.~ HUU-92143M 19]4!
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