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That, to order more fully to protect :he secunty of this mortgage. the mortgagor, together wtlh. and m addutun to, the monthly payments under the terms of the nu:e secured hereby. on the firs day u< each month until the said note is fully paid, will pay to the mortgagee the follow- - x ing sums: lest An amount wRicient to provide the IwWer Aereot with funds to pay the next mortgage inwranct premium it this instrument and the ~ note secured hereby are inwred. a a monthly charge tin lieu of a mortgage inwranct premiuml if they art held by the Secretary of ~,Z Housing and Urban Devebpment as tolbws: 111 It and so long as said note of even date and this instrument are insured or are reinwred under the provisions of the National Housing Act. an amount wtficient to accumulate in the hands of the holder one 11) month prior to its dire date the annual mort- gage inwranct premium. in order to provide wch holder with funds to pay wch premium to the Secretary of Noosing and 4, ltrbar Devebpment pursuant to the National Housing Act. as amended. and applicable Regulations thereunder: a 1111 It and so bug as said nest of even date and this instrument art held by the Secretary of Housirtg and Urban pevebpment. a ' monthly charge (in lieu of a mortgage inwranct premiuml which shall be in sn amount equal to one-twelfth l1/121 of one•half 11121 per eenturn of the average outstanding balance due on the note computed without taking into account delinquencies or prepayments: lb) A sum equal to the ground rents, it any, next due. plus the premiums that will next become due and payabk on policies of fire and aher hatard inwranct coveting the mortgaged property, plus taxes and assessments next due on the mortgaged property tall as esti- mated by the mortgagee) less all sums already paid therefor divided by the number of months to elapse before one month prior to the 1 Date when wch ground rents, premiums, taxes. and assessments will become delirtgttent. wch sums to tx held by mortgagee in trust to pay said ground rents, premiums, taxes. and special assessments: and Ic) All payments mentioned in the two preceding subsections of this paragraph and all payments to lse made under the note secured herc• by shall tx added together and the aggregate amount thereof shall be paid by the mortgagor each month in a single payment to be ap- plied by the mortgagee to the following items in the order set forth: 111 premium charges under the contract of insurance with the Secretary of Housing and Urban [kvelopment. or monthly charge l (in lieu of mortgage inwranct premiuml. as the case may be: 1111 ground rents. taxes, assessments. Ere, and other hazard inwranct premiums: 1111 interest on the note secured hereby: and IIV? amortitation of the principal of said notes Any deficiency in the amount of such aggregate monthly paymsnt shall, unless made good by the mortgagor prior to the due date of the next wch payment. constitute an event of defauh under this mortgage. The mortgagee may collect a "late charge"not to exceed tour centx (4t) for each dollar (SI) of each payment more than fifteen (I S) days in arrears to cover tht extra expense involved in handling delinquent payments. That if the total of the payments made by the mortgagor under Ihl of paragraph 2 preceding shall exceed the amount of the payments actually made by the mortgagee, for ground rents, laves and assessments and insurance premiums. as the rase may tx. wch excess it the loan is current, at the option of the mortgagor, shall, be credited on subaequeot payments to be made by the mortgagor. or refunded to the mortgagor. If, however, the monthly payments made by ,the mortgagor under [e) of paragraph 2 preceding shall not be anfiicient to pay ground rents, taxes and assessments and insurance premiums, a~ the case !nay be, when the same shall become due and pay- able, then the mortgagor shall pay to the mortgagee any amount necetisary to make up the deficiency. on or before the date when payment of such grouoJ rents, taxes, asscssmeots, or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with the provisions of the Dote secured hereby, full payment of the entire indebtedness repreaeot- 'ed thereby, the mortgagee shell, in c•omputinR the amount of such indebtedness, credit to the account of the mortgagor all payments made under the provisions of of paragraph 2 hereof which the mortgagee has not become obligated to pay to the Secretary of flousinR and Urban Development and any balance remaining in the lands accumulated under the provisions of [b) of said paragraph 2. If there shall be a default under any of the pros•isions of this mortgage, resulting in a public sale of the premises covered hereby, or if the mortgagee acquires the property otherwise after default, the mortgagee shall apply, the the time of the commencement of such proceedings or at the time the property is otherwise acquired, the balance then remaining in the funds accumulated under [b) of paragraph 2 preceding as a credit against the amount of principal then remaining unpaid under said note and_ shall properly adjust any payments which shall have been made under of said paragraph. a. That ht will pay all taus. assessments. water rates. anJ usher governmental ur municipal clwrges. finec- or impositions. for which pro- vision h:~s not been made hrreinhrturr. anJ in Jrtauh thereof the mortgagee may pay the same: anJ that hr will prumptly Jtlivrr the utRcial receipts Ihrretur to the mortgagee. S. That he will permit. commit. or wtler no waste. impairment. ur Jeferiorrtiun of ~'aitYpib`)Sliiy bt`any pail (hereof: arw!<ip the event ut the failure of the mortgagor to keep the buildings on said premiusrnJ those to t?e erected on wid prem4ses. or.impruvements thereon. in gixrd re- pair. the mortgagee may make wch repairs as in its discretion it may deem necessar=y ftrf,t~pr t:preservatiun therco~ :md the full amount of each anD every such payment shall ere immedirtely dot and payabk. and shall ere secured by the liell'o~ this mt~t~e: - - d! t "that he will pay all and singular the costs. charges. anJ expenses. includin>; rt~?serhtik ~(?y~t's tNlt:.atrdeoslr; of ab;trtt~le. in- ' currcJ or paid at any time by the mortgagee because of the L~ilure un the part of tIK r prerttply~arwl [~ll,~~,, to~ ~rform the agreements anJ cuvenams of wid promissory note anJ this mortgage. anJ sail costs. charges. anJ expenses shall tx immeJialdy~due•arid pay3b~tf1~ shall he secured by the lien of (his mortgage. 7. "that he will keep the improvements now rxiaing or hcrratter rtecteJ un the mortgaged property inwreJ as may ere reyuirrd from Time to time by the mortgagee against hrss by fire and other haiarJs. r,~wadies. and contingencies in wch amounts and for wch periods as may ere required by mortgagee. and will pay prumptly. when Due. any premium, on wch insurance tar payment of which provision has nut exert made hereinheturt. All inwranct shall ire carried in companies approve) by mortgrger and Ihr policies and renewah thereof shall ere held by mortga- t:rr and have attached thereto loss payabk cl;~uses in favor of and in form acceptahk to the mortgagee. In event of bss he will give immeJiate rxrtier by mail to mortgagee. and muggagee mry make pawf of loss if nr>t made promptly try mortgagor, and each insurance company con- ; crrneJ is hereby aulhonreJ and Directed to make payment for wch loss Directly to mortgagee instead of to mortgagor and mortgagee jointly. and the inwrmce pn?ceeds, or any part thereof. may tx applied by murtgaget at its option either to the reduction of the indehteJness hereby secure) ur to the restoration ur reprir of the property Damaged. In tram of turtcbwre of this mortgage or other transfer of silk to the morl- i g:+geJ property in extinguishment of the indehteJnrss .ecurrD herrhy. al! right. title. and interest of the mortgagor in and to any irourance poli- I tics then in force shall pass to the purchaser or grantee. K. Thad it the prrmisrs. or any pert thereat. he amdemneJ under any power of eminent Domain. or acquired for a public use. the damages. ¢ prrweedc. and the considrrdiun fur wch acyuisitiun. nr the event ut the full amount of inJehtrdness upon this Mortgage. and the Nwe secured hereby remaining unpaiD. are hereby assigned by 111e ~lurtgagur to the Mortgagee and shall Frt paid forthwith to the Mortgagor to ere applied by nun account of the inJcMeness secured hereby. whether due or not. v That the mortgagee may. at any time pending a soh upon this mortgage. apply to the court having jurisdiction thereat for the appoint- i i mrnt ut receiver. anJ wch crwrt sh:Jl forthwith appoint a receiver of the premises covert) hereby all and singular. including all and singular the income. profits. issues. anJ revenues from whatever source derived. each and every ut which. it Erring expressly undentrxxl. is hereby t murtgat;rJ as if specifically set forth and Jescritxd in the granting and hatrenJum clauses hereof. and such receiver shall have all the broad anJ etlective [unctions and powers in anyw ise entrusted by a court to a receiver. anD such appointment shall ere made by such court as an admitted equity anJ a matter of absolute right Io saiJ mortgagee. and without reference to the adequacy or inadequacy of the value of the property mo~- ta1;eJ or to the solvency or imulvrncy of s:~iJ mortgagor or the Defendants. and that wch rents. profits. income, issues. anJ revenues shall err applied by wch receiver according to the lien of this mortgage and the practice of such court. In the event of any default on the part of the morl- gagur hcreunDer. the morigagurrgrces to pay to the mortgagee on demand as a reawnahk monthly rental for the premises an amount at least equivalent to one-Iwrltth 1111?1 of the aggregate of the twelve monthly installments payabk in the then current year plus the actual amount of the annual taxes. asscssmeots. water rates. anJ inwranct premiums for wch year not covered by Ihr aforesaid monthly payments. I(1. 'that I:U in the event otrny trrcach of this mortgage or default on the part of the mortgagor. or Ihl in the event that any of said sums of money herein referred to ere not promptly anJ fully paid without demand or notice. or Icl in the event that rack and every the stipulations. agreements. conditions. anJ covenants of said nextrnJ this mortgage. art not duly. promptly. and fully performed: then in either or any wch i event. the sail aggregate cum mentioneJ in wid note then remaining unpaid. with interest accrued to that time. and ell moneys secured hereby. f shall txcume Juc anJ payabk forthwith. or thereafter. at the option of said mortgagee. as fully and completely as it all ut the said sums ut mun- ey were originally stipulated to be pail on ,uch Jay. anything in rid note or in This mortgage to the contrary notwithstanding: and thereupon or thcrcatter. at the option of sail mortgagee. without rxrtice or demand. wit al law or inequity. may be prosecuted as if all moneys secured here- a by had matured prior to its institution. The mortgagee may forecbse this mortgage. as to the amount so declared due and payabk. and the said premises shall he sold to satisfy and pay the same together with costs. expenses. and albwancrs. Incase of partial forecbsurt of this mortgage. the mortgaged premises shall Ire wW whject to the continuing lien of this mortgagelor the amount of the debt not then due and unpaid. In wch case Iht provisions of this paragraph may again he availed of thereafter from time to time by the mortgagee. 3!'k!~ ~O raG: ~ 158 5 G