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<br />(1) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder: ur
<br />(ti) if and so long as said note of even date and this instrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in lieu oja mortgage insurance premium) which shall be in an
<br />amount equal to one-twelfth (l/i2) of one-half (1/2) per centum of the average outstanding balance
<br />due on the Wort 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 fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (afJ as estimated try the Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior tc 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 />miurns, 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 />cite note secured hereby sF.ll he added together, and the aggregate amount there` shall be paid by the Mortgagor
<br />each month ht a single payment to br applied by the Mortgagee to the titlltawing items in the order set forth:
<br />(I) premium charges under the contract of insurance with the Secretary of Housing and Urban [kvelopment,
<br />ur monthly charge (in lieu gfrnortgage insuram•e prentiunrl, as the case may be;
<br />(11) ground rents, taxes, assessments, tier and other hazard insurance premiums;
<br />(tll) interest un the note secured hereby: and
<br />(IV) amurtuation of the principal of said nuts.
<br />Any det7cicncy m the amount of any such aggregate nnnnhly payment shall, unless made good by the Mort-
<br />gagor prior m dte due data of the next such payment. constitute an event of default under this mortgage. The
<br />Mortgagee may collect a "late charge" not W exceed titer cents I~vl lilt each dollar (SI) of rarh payment more
<br />than fifteen (151 days u+ arrears a+ cover the extra expense involvesi i^ handling delhuiuent payments.
<br />a. 'that if the trNUl of the payments mode by the NortguKor under r hr of paragraph 3 precedink =hall exceed
<br />the amount. of payments actually mach by the ilurtkal;oe for emend rent;, taxes and s4e~,ment; ur insurance pre-
<br />miumu, a~ the r•a-,r' may bf•, ;uch excess, if the lam is eurreut, a[ the option of the Hortgagur, +hakl be credited b}•
<br />t$e iiort~ayee on ~ub~eyuent payment.; u> he made by the iiurteagor. or refunded ua the iiortgaeor ki, however, the
<br />monthly p#3yrnyant.- made by^ the ltortgagur under iial of psrrzyraph _' preceding shaft nut be sufficient at pay ground
<br />rrtnt, tuxttts and ay~otsymk:nt~ nr intittrance premium, u:+ the ca.e may he., cvBten the game shall besaemr due and pay-.
<br />mate; then. tltea Nortgagnr shall pay to the ilurtgaKeo any amount neree,~rary to make up the defickoncy. on or befor4p
<br />tkie data When, payme•art of -uch p(nrund rent;„ 6axe.~, a.~-e;vmentr or itt,uranre premium•~ ~haill he der. If at any
<br />timelhe'11ean}~af;or .ahall tendrtr to (he itsu•tftui;eae+, in :u•crardunco wiCh the. larovi;ions of the uote ,;es•urekl hereby.
<br />fall pttymtrnt elf the= a+niiro indebkedrtr~.s repre+irnted the>mhy, the llortl.,ut;et• =hail, in computinz; the amount of ;urh
<br />indebteslriess, credit to the acawnt of the Hortgagur all payments made under the provisions of :r sal par:tgraplt
<br />hereof which the ikaMgagee ha; not beenme obligated to pay w the ~ecmtary of 11ou.~inp, .nd 1'rb:m Dcvrlupntent
<br />and :ury balance remuinink in the fund. aceumulau•d under the provi.;iun~ ul •; of p:traeraph :' hen•uf. It there
<br />;hall be a default. under any of the pmcixion~ of chi; murte:y;e rewltinx in a public male ui the pmmt;<•; co,ers•d
<br />hen•hv, or if the \ltrrtgagee :u•yui n•; the pnrpcrty nrherwi ~e after default. the ilort(r;tgee ;hall apply, at the time of
<br />the commencement of ;uch pnrrerding,, ur :u tht• [imu the prop+•rti i; utht•r+vi;o xryuirt•d, the hulanc+• then rt•muin•
<br />ing in the fund. accumulated under ,;; ~ of parur;raph '' prr•rt•ding, a~ a cn•dit at;ainnt rho amount of prinr•ipal then
<br />ntmadnkng unpaid under -aid mate, :end ;hakl prrtpori} udja.;t any palm/^ni.; which -h:rkl fia,u he•e•n madt• under'.:?
<br />of paraRrtrlah °,:.
<br />:4, f'kt;al the '4furtgags,r will paw tttraltnd rs•nt,. tact,, a„en,mrrtt,, outer rote-, :utsl utitrr t,s+vrnnnentaE ur municipal
<br />~citprrgrfi. Bzur+, or inrpo,hietn±, fur whici+ C++:*t,ir>aa Batt, out 1?rrn ~madr ltrrrtnhrfr+rr~~ and in Jrdatdt there++.f the 41urtRugar mu,
<br />put>' !!eg v:smr. =and that the Mntt>itps+r w ilk prumfrtty drhvrr tilt ufRrial rcrript, ahrrrf'ur to thr'viartgugrr-
<br />9'. ~Thr fcYMi,~a{tcu' wail pny ,+li B.IVr,, ~.hich mu+v ~ izlizd upon ih'r'~Turigu}{r,r`s iNtrzrz,t to ~;iid real ~,tatz ansf ampr++vz-
<br />tatq~ulf!, ar!d' whi4hrnty ~ Irvrr~l upon tha, r~~rlp;utr+'rr the drbl v~eured hrrrM~ that unlly t+a tiae extent the! ±uch is nut prohibn-
<br />rc'i'tlry kaw ;and only to the extent that ,u4h wdl n+at ruakr t,hi, loon ucurioast, taut exs Iuditig „my income tav. ltatr ,,r FedrraP.
<br />imposed on Mortgagee, and wiilliir the ,+t-iiak receipt shuwini: such puvmrnt whit the Hortguytee- C pun viuk;nio^ of chi, undrr~
<br />taking, ur if rhr Mortgagor i+ prohibited by any low new or hrreaftrr rvt,ung from pay mg the whole ur any Iwnn+n of rhr al'urr-
<br />,aid urxe,, ur upon the rendering of any- :curt drrrre pruhibihng the pay mint by the Hongagor ur any ,uch rnr,, ur ,f ,uch Ltw
<br />or dnrrrr p7uvidrs thus any amount w paid ha the ik,rtgagur ,hull hr credited un Ihr mortgugr debt, the Murtgagrr ,hall ha,r
<br />Ihr right h+ give ninety days' written Holier h+ the owner of the nutrtguged premise,, reyuirint: the payment of the mortgttgr
<br />debt If ,uch twticr hr Rfven. rhr sold debt ,hall become der, puyuhlr and cullrctihlr u1 the rxptrarion of ,aid ninety du>,
<br />h. That ,huuld hr foil to pay any ,um ur krrp .my+.uven~ntt provided fur in chi, 41ortRagr, then the Horigugrr, ;u rt, up-
<br />tipn, ntuy pay or perform the, ,amt. and all rvprndituren ,o made ,hall hr added to rhr principal ,um owing an the aM+vr Hutt,
<br />thug 1*r srcurrd hrrrhv. and shall hear intrre,t :u the rrtr ,rt forth in the ,aid note, until plod.
<br />'. 'That hr hrrrhv_ :ts,i`n,, trtnsfrr, and ,et, +ncr to the iturttuRrr, to br applied tuwuni the pu> mint of the note :utd all
<br />,tuns yrcurrd hrrrhv in cu,r of u defuuU in ahc perfurnuutcr of any rd the tuna. and cundinun, of this iiort~rgr ,,_r the ,atd
<br />Walt, ;pll the rent,, revenues and income ro hr slrrivrd itsnn the murtgugrd prentisr, durint; ,uch urnr a, the ntortgugr atdrhted•
<br />Hers ,hall rcmttin unpaid; and the Mongut,rr shall have power a, appoint .utv ugrnt ur akrnl+ it mot dr,irrr cur rhr purpose of
<br />rrpairinR saiv'I premise, and +rf rcntlng rhr same atxt ctt{IeeiinR rhr ants, rrvrmre, and mrsnnr, aanf tt ntuv par srctt of ,aal an-
<br />r a3mrs uIl r,rtpansrs of repairing ,aid prrnti,r, and necessary commis,ion, :uui expenses incurred in rrnting,atd munugrng the
<br />same itnd of a,llecdnd rentuks therefrom: the hukance remaining. rt :uty, ut hr applied toward the discharge of stud msartQagr
<br />indebtedness,
<br />N. That hr wild keep !hr IIIIpCU,elnrnh m,w Cxl,trnR of hCPCi11lC1 +v'rctcsl ou rhr na+rlttakrd property, bnured ;t, may hr
<br />revolted from time to time t+y the Murtgagrr ugaiust kris by ilre :md nthcr iaatards, casuaktie, :md runtingencrrs in wch
<br />utnuunts and fur such prrit+ds :ts ntaY hr rvyutrrd by the Murtgagrr aaxl wick pay prurnptly: when der, auy prrnaium, on ,aach
<br />insuruncr prnviaion fur puyntrnt of which has our horn mudr hrrrinbrfurr ,ilk in,urutcr ,half hr .arrird rn curnpuntr, :y+•
<br />pr'uvrd by rhr HurtgaRrr and the pstkicies and renrwuls thereof ,hull he held try the Murtgutrs .uad ha,c «atiakhrd thereto t+,„
<br />payable ela',uses is fuvar of and in form aeerptaMr to the Mortga>~rr, ht event s+f truss Martgugur will btvr trnrnrsliatr rn,trcr hp
<br />mail to the Munitugre, who may make proof of loss if nut mudr pttnnptlY by Hortgagur, and rash insuruncr cumpum^ cun•
<br />cerrted is hereby authurizrd acrd directed to make papmrnt for such loss direct{y to fhe Murtgagrr instead of te, the Mortitagur
<br />and the Murtgagrr .Inintly, and rhr insuruncr prurrrds, or any purr thrrcof, may hr upplird by the Murtgagrr at u, uptuna tuber
<br />to rhr rrduetion of rhr indebtedness hereby ercured ur to rhr resturatiun ur repair of the pntprrty damugrd. hrrvcnt of t+neclu•
<br />,arc of this mortgage ur other tnmsfrr of titke to rhr mungagrd property m evtingui,hnrrnt of rhr indrhtrstnr,s ,eluted hrrrhv,
<br />ell ri~,ht, title and interest of rhr HurtgaRut in and a+ any inaurmce pulicie, then in force ,hall pea to the ptuchusrr ur gruntrr-
<br />4, 'c'hat as udditionul mtd cullatrral ,rcurity fur the payment of rhr note dr,crit*rd, and ell ,um, hr become der uodrr tht,
<br />mortgayr, rhr Mortgagor hereby us.,igns to rhr Mu€tgagrr a!I profit,. revenue,. ruyattie,, rights and benefit, uccruiug to rhr
<br />Morty[rt~st' under any :tttd aH oil and gas Irasr, utt ,aid premise,. with thz right tr+ receivz ;md rzczipt for tfrr ,;atnz and appkv°
<br />them to raid inrlehtedrrrvs as weH tas•furr ns after drfauh in rhr cunditiuns ut this martt+,abr, :utd the Murtgagrr may- drrnand, ,ur
<br />for:utd rresrvrr any such payanerrts when der and t_rayuble, but ±hull not t>e revolted .,+ to ,1+,- lfais.r„ignmrnt is to trrrtrunrtr
<br />ens! hr,:onac nu!! :asad void apart relra,•• r than imartgstgr.
<br />' NUta~9211aM tSJ91
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