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PROVIDED ALWAY3. and these presenta are executed and delivered upon the following conditions. to
wit:
The mortgagor agrees to pay the mortgagee, or order. the principal sum of Ten 'Diouaand One H1u~dred
Fil~y_and lio~100---------------------•---•----•---•----•----------------o-------------
Dollars (a 1p~150•00 as evidenced by a note of even date herewith. with interest from date
at the rate of 81x per centum ( 6 y6 ) per annum on the un-
paid balance until paid. The said principa: and interest shall be payable at the o8ice of
ATI~O !~lliAllCI1tL C~OR!l~Iai~ l~bst 0!Y'ice Booc 3331~
or at such other place as the hol~;der o~ the
no~te m~Y desigaate in writing~ in monthly installments of
Sisty end 90~100----•-------------------- Dollare 60.9~ commencing on
the ftrst day of Saptembsr , 19 (>T , and on the first day of each month thereafter until the
principal and interest are fully paid, except that the flnal payment of principal and interest, if not sooner
paid~ shall be due and payable on the flrst day of ~st , 399rt ;
And ahall duly. promptly, and fully perform, discharge, execute. effect. complete~ and comply with and
abide by each and every the stipulations. agreements~ conditions~ and covenants of said promissory note
and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void.
And the mortgagor fnrther covenants as follow s:
l. That he wiU pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the
debt in whole. or in an amount equal to one or moi~e monthly payments on the principal that are neut due
on the note, on the first da~ of any month prior to maturity : Pmvided. however, that written notice of an
intention to exereise such privilege is given at least thirty (30) days prior to prepayment; and. provided
further. that in the event the debt is paid in full prior to maturity and at that time it is insured under
the pmvisions of the National Housing Act. he will pay to the mortgagee an adjusted premium charge of
one per centum (2~ib) of the original prinpipal amonnt thereof, except that in no event shall the adjusted
premium exceed the aggregate amount of premium charges which would have been payable if the mort-
gage had continued to be insured until maturit3~; such payment to be applied by the mortgagee upon its
obligation to the Federal Housing Commissioaer on account of mortgage insurance.
2. That, in order more fully to protect the security of this mortgage. the mortgagor, together with,
and in addition to. the monthly payments under the terms of the note secured hereby, on the first day of
e~ach month until the said note is fully paid. will pay to the mortgagee the following sums:
(a) An amount sufficient to provide the holder hereof with funda to pay the next mortgag^e
insurance premium if this instrument and the note secured hereby are insured. or a monthly charge
(in lieu of a mortgage insurance premium) if they are held by the Federal Housing Commissioner.
as follows : ' _
(t) If and so long as said note of even date and this inatrument are insnred or are reinsured under the
provisions of the National Nousing Ack sn amount suf6cient to atcumulate in the hands of the holder
one (1) month prior to its due date the annual mortgag~e insurance premium~ in order to pmvide such
ho2der with funda to pay s~uch premium to the Federal Housing Commissioner pursuant to the National
Housing Act. as amended. and applicsble Re$ulations thereunder; or
(n) Ii and so long as said note of even date and th~s inatrument are held by the Federal Housing Commis-
sioner, a monthly char~e (in lieu of a mortgage insurance premium) which shall be in an amount
equal to one-twelfth (y~Z) oi one-halt ('~4 ) per centum of the average outatanding balance due on the
note computed without taking into aceount delinquencies or prepayments;
(b) A sum equal to the ground rents. if any, next due, plus the premiums that will next become
due and payable on policies of fire and other hazard insurance covering the mortgaged property. plus
taxes and assessments next due on the mortgaged property (all as estimated by the mortgagee) lesa
all sums already paid therefor divided by the number of months to elapse before one month prior
to the date when such ground rents, premiums. taxes. and assessments will become delinquent, such
~ sums to be held by mortgagee in trust to pay said g?round rents, premiums, taxes~ and special assess-
~ ments ; and ~ ~
~ (c) All payments mentioned in the two preceding subsections of this paragraph and all pay-
f inents to be made under the note secured hereby shall be added together and the aggregate amount ~
F thereof shall be paid by the mortgagor each month in a single payment to be applied by the mort-
~ gagee to the following items in the order set forth : ~
(t) pteminm c1larqes under the contraCt of insurance with the Federal Housing Commissioner, or monthly
~ charge (in lieu of mortgsge insnrhnce premiwA) ~ as the case may be; . ~
(n) ground rents, taxea~ aseessmenta, 5re, and other bazard insurance prem~ums;.
(~tt) ~nterest on the nc~te secured hereby; and ~
(tv) amortization of the principal of said note. . `
Any deficiency in the amount of such aggrega?ke monthly paymettt ~hali~ unless made good by the
mortgagor prior to the due date of the next such payment, constitute an event of default under this mort-
gage. The mortgagee may cullect a"late charge" not to exceed two cents (24) for each dollar (~1) of
each payment more than fifteen (15) days in arrears to cover the extra expense involved in handling ~
delinquent payments.
3. That if the total of the payme~ts made by themortgagor under (b) of paragraph 2 preceding shall ;
exceed the amount of vayments actually made by the mortgagee, for Rround rents, taxes and asses.Rments ;
and insurance premiums, as the case may be. such excess shall be credited by the mortgagee on snbsequent 2
paymenta to be made by the mortgagor. If, however, the monthly payments made by the mortgagor ~
under (b) of paragraph 2 pr~ing shall not be au~cient to pay ground rents, taxes and assessments -
~ and insurance premiums, as the case may be, when the sarae ahall become due attd payable, then the ;
~ mortgagor shall pay to the mortgagee any amount necessary to make up the deficiency, on or before the 4
~ date when payment of such ground rents, taxea, assessments, or insurance premiuma shall be due. If
~ at any time the mortBaBor shall tender to the mortgagee in accordance with the prnvisiona of the note
~ secured hereby, full payment of the entire indebtedness represented thereby, the mortgagee ahall. ;n com-
puting the amount of such indebtedneas, credit to the acoount of the mortgagor all paymenta made under
the provia~ons of (a) of pAtagraph 2 hereof which the mortgagee hsa not become obligated to pay to the
Federal Housing Commisaioner and any balance remaining in the fnnda accumulated under the pro~•isions
of (b) oi said para8raph 2. If thei~e ahall be a default under any of the pmvisions of this mortgage, re- `
aulting in s public sale of the premisea eovered hereby, or if the mortgagee acquirea tlie pmperty other- ~
wiae after default, the mortga8ee ahall apply, at the time of the commencement of auch proc~dings or at ;
the time the pmperty ia otherwise acquired, the balar?ce then remaining in the funda accumulated under
~ (b) of psragraph 2 preceding ss a credit againat the amount of principal then remaining unpaid under ;
ssid note and ahaU property adjust any paymenta which ahall have been made nnder (a) of sa~d paragraph. '
4. That he will pay all taxes, asseasmenta, water ratea, and other governmental or municipai charges, i
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