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2. That. m orda~r more fully to protect the security of this mortysp. the mortgagor, togsWet will:, and in addition to, the moatbly
gayness under the terms of the note second hereby. on the first dsy of each month until the said note is fully paid. will pay to tht sat- -
aa8ee the fogowiug sum::
(a) Au amount suffkieat to provide the hdder hereof with funds to pay the next masigage imuran.:, premium ii this instrument and
the note second hereby an insured, or s monthly charge (in lieu of a mortgg insurance premium) it they an ttdd by the Secre-
tary of Housing an6 Urban Darelopmeat as fogowa• -
(1) ~ It sad so long as said note of tyren date sod this Imtruauent an insured err ace reinsured under the provisions of theNstiQaa!
Houw?g Act, sn amowet sufficient to accumulate is the hand: of the hdder ors (1) month prier to ib dua data the annual
mortgag iautranoa pretnigm, m order to provide such holder with fund: to pay such premium to the Secretsry of Housing
and Urban Deretopmeat pursuant to the National Housiag.Act. ss amended, and applicable Rcgulatioas thereunder; or
(Il) if and so ton= a said note of eras date and thin instrument era held by the Secretary of lfousireg sad Urban tot,
's monthly char8a (in Ileu of a uact~ppe Inunnce premium) whicb shall be in as amount equal to onatwdtth (1 1~) of
one-half 1/2) per antum of the average outstasndine bslaace due on the note computed without taking into aocouat de•
ILequeacia or pnpaymentt:
(b) A sum squat to the ground teat, if any. next due, plw the premiums that wig next become dua and payable on pdicia of lire
sad other hazard ipseeraace covering the mortgaged property, plus taxes and afsesamenb next due on the mortgaged property (erg
as estimatsd by the mortgagee) tea: all sums already paid therefor divided by the number of months to eL before ores month
prior to doe dace wbsa such Round rent, premiums, tsxeae, and sssesteaenb gill become delinquent. such ums to be held by
atortgtgtc in bust to pay said ground rents, premium:` taxes, and spedal a~e:s<eeeat; sad
(c) All payment mentioned in the two ppreceding subsection of this psrapaph andag gy.aents to be made e+uder :hs-note sect:red
hereby shall be added together and the aggrepts amount thereof shall be paid by the n...rtsigor each month in a'single payment
to be applied by the mortpsee to the fallowing itcaes in the order set forth:
(I) premium charges under the contract of insee_rance watt the Secretary of Housing and Urban Development, or monthly
aharg (iu lieu of moctpge insurance premium), a: the we,lpay be: _
(Il) ground rent, Lies. asseamenb, fire, and other hazard insurance premiums:
(IIl) interest on the Hots secured hereby; sad
tIV)) smottization of the principal of said note.
/zany deficiency is the amount of such aggregate monthly payment shall, odes nude good by the mottpKat prior to the due date of
the next such payment, coaatitute an Brent of default under this mo The mortgagee msy colloct : 'late charge" not to exceed four
cent (4g) for each ddtu (tl) of each payment more. than fifteen (IS'~aYs in arrears to corer the extra cxperese involved in handling do-
linquant payaents. ~ -
3. That if the total of the payment made by the mortgagor under (b) of paragraph 2 preceding shalt sxaed the amount of the pay
menb actually made by the mates, for ground rent, taxes sad assespncnb and inseuareas premiums, u the case may bs, snob excess if -
the loss le entreat, at the option of the mortpgor, shall, tie credsted ~ subsequent paymeat to be made by the mort~or, or refunded to -
th~ mortgagor. V, however, the monthly payments made by the atort~a~or under (b) of parapaph 2 preceding shall not 6e sufficient to
pay pound rents, taxes and sssesameat and inAirance pirealiums, as the case may be, when the same shall become due and payable, than ' .
the mortgagor shag pay to the moctggee any amount necessary to make up the deficiency, on or before the fists when payment of such
Bound rent, taxes, assasmenb, or insurancx premiums shall be due. V st say lima We mortpmt shall tender to the mortgage in aooord-
ance with the provbions of the note secured hereby, Pall payment of the entire indabtedaess npreaented thereby. the mortgage shall, in
computing-the amount of such indebtedness, credit to the account of the rnortp6or aq payment made under the provision of (a) of para-
graph 2 hereof which the mortgagee has not become obiigted to pay to the Secretary of Housing and Urban Development and any balance
reaaining in the funds :ccumulatcd under. the provisions of (b) of said paragraph 2. If then steall be a default under any of the ptorisioes
of this mortgage, tswlting is :Public sale of the premises covered herby. or if the mortgagee acgnira the property otherwise after do-
rants, the mortgagee shall apply, at the time of the conirnereotmea:- of such proceeding oc at the tLae the property is otherwise ao-
quirsd, the balance rhea remaining in the funds accumulated under (b) of paragraph 2 preceding as a credit agaimt the amount of principal
then remaining unpaid under said note sad shall property must any payments_which shsll bare been made under (a) of said Paragraph.
4. That he wEll pay erg taxes, assessments; water rtes, sad other governmental or municipal charges, fines, or imposition, for which
provision ha Hat been made hereiobefore, and in default thereof the mortgagee may pay the same; and that he will promptly ddirer the
official receipt therefor to the mortgagee. -
S. That he will permit, commit, or suffer no waste, impairment, or deterioration of said property or any part thereof; and in the
event d the facture of the mortgsgor to keep the buildings on said premises sad those to be erected on said prmises, or improvement -
thereoa, in good repair, the mottp~gee may make such repairs as is its discretion it may deem necessary fore the proper presarratioa theta
of, and the full amount of sac6 and every such payment shall be immediatdy due sad payable. and .shall be secured by the lien of this
mortgagee.
6. That he will pay all sad singular the coat, charges, and expenses, including reasonable lawyer's fees, and costa of abstracts of
title, incurred or paid at any time by the mortgagee bxause of the fai7urb on the part of the mortgagor promptly and fully to perform the
agreements and covenants of said promissory note and this mortgage, sad said cost, charges, and expenes:hall be immediately des and
payable and shag bdsecond by the lies of this mortgagee. -
7. That he will keep the improvements now existing or hereafter erected on the mortgaged property insured as may be required from
time to time by the inortpgee against loss by fin and other hazards, casualities, and contingencies in such amounts sad for such periods as
may be required by mortgagee, and will pay promptly, virhea due, any premiums on such insurance for payment of which prorisan has not
been made hereinbefcn. Ail insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be
held by asor~tgagat and have attached thereto loss payable clauses in favor of and in form aaxptable to the mortgagee. la Brent of loss hr
will give immediate notice by marl to mortgagee, and mortgagee may make proof of lass d not made promptly by mortgagor, and each in-
surance company concerned is hereby authorized and directed to make payment for such loos directly to mortgagee instead of to mortp-
gor sad mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgsgeCat its option either to the reduo-
tics of the indebtedness hereby second or to the restoration or repair of the property dunaged. la event of forsclosure of this mortgage or
other treader of title to the mortgaged proFerty in extinguishmcat of the indebtedness secured hereby, all right, tills, and interest of the
mortgagor is and to any insurance policies rhea is force shall pass to the purchaser or grantee.
8. That if the premises, or say pa-•. thereof, be condemned under any power of eminent domain, or acquired for a public use, the
damages, proceeds, sod the consideration for such acquisition, to the extsat of the full :mount of indebtedness upon the: lortgage, and
the Note secured hereby remaining unpaid, are hereby ash by the lgortggor to the Mortgagee sad-:hall be paid forthwith to the Mort-
ga~er to be applied by it oa account of the indebtedness second hereby, who doe or Act. -
9. That the mortgage msy, at any tiaae pending a suit upon this mortgage, apply to the court having jurisdiction thereof fo: the
appointment of a receiver, and such coact shall forthwith appount a receiver of the premises catered hereby all and sirigiilar inclading all
and singular the income, profit, issues, and nrenua from whatever-sautes dernred, each and every of which,' it beigg expressly uader•
stood, is herby mo as d specifically set forth sad described is the granting and habendum clause hereof, sad such receiver shall
save all the broad ands octive function sod porters in anywese entivsted by a court to a receiver, and such appointment shat bt made by -
such court ss sn admitted sanity sad a matter of absolute right to said mortgagee, and without reference to the adegie~y oar iaadequscy of
the table of the property mortgaged or to the solvency err insolvency of said nsortgsgor at the defendant, and that such rents, profit, in-
come, assns, aed revenues shag be applied by such nceher atoordi~ to the lien of this mortpge sad the practice of snob court. In the
event of say ddauh oa the part of the mmtpgot hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasana~c
monthly rental for the premisca an amount at lust equirakat to oae•tweltW (1/12) of the aggregate of the twelve monthly installmeab
payable in the titan current year plus the actual amount of the anneal taxes, assessments, water rata, and insurance premiums for snob
year sot covered by the aforesaid monthly payment.
ld. That (a) in the event of any beach of this mortgag or default ob the part of thrmortgagar, or (b) in the evert that say of said
sums of money herein refsrnd to be not promptly sad fully paid without demand or notice, or (c in the Brent that each andevery -the std
pniations, sgreements, conditions, and covenant of said Rote and thi+i mortgag, are not duty, promptly, and fully performed; then is
either or any each Brent. the said aggregate sum neentioaod is said rota then tesasiniag unpaid, with interest accrued to that time, and erg
moseys second hereby, shall become .dot and payable forthwith, of thereafter, at the option of said mortgagee, as Elegy and completely
as if all of the said sums of maaley wen origirwgy stipuLted to be psid an sich day, anything in said note of in this mortgage to the con-
trary notwithstanding; and thereupon or thereafter, at the option of said mortgagee, without notice o~r demand, suit at law or in equity,
ni:y be prosecuted as if all moneys secured hereby had matured prior to its institution. The mortgages may foreclose this mortgg, as to
the smonnt m declared dos and payable. and the said premises hall be sold to satisfy and pay the same togther with coats, expenses; and
allovrances. In ass of partial forcclosun of this mortgage, the mortpged prernisa she!! be wtd subject to the continuing lien of Shia mo~t~
gags Y .x the amount a the deM sat rhea due and unpaid. In wch case the provisions of this paragraph may again be availed of theresfter
from time to time by the mortgagee.
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