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10. Aar e:cess Iwds ~ccumulated ~ade~ (b) ot tbe precedL?s para~ph nwinLt~ atte~ p~~otnt ot t6~ itea~ t6ereL? seutloa~d.
ah~ll bs credited to subsequent moaWlr p~pments ot th~ saias a~tun nquired thersunder; but. it aor such itN sl~aA e:ceed tb~
s~tLoate Were[or tbe moet~a~ar sh~ll withoat demand tort6atW mak~ sood t6~ deticleac~. Falluro to do w b~fac~ t!~ dw d~~t ot
snch itea s6aU be ~ dshult heceuader. In case ot termioatiaa ot the Cont~et o[ YoctQaQe Iasurance br preparssnt ot tM oo~tp~
in [ull. or ot6Kwisa (e:cept •s becela~ttar provided). ~ccumulations ande~ ot th~ ae:t precedins p~nRspb b~e~tof aot ~ulred
to meet p~pments dw undar tbe Coatr~ct o[ Yoet~a~e Ins~uance. •ball be cr~dited to t6e sort~~or. 1[ tbs pwp~~ L sold und~~
foreclwuee ac is oth~ewise tcquired br tht mat~~ee aRer def~ult. anr ce~alnin~ b~laace ot W~ ~ecusoi~tioos und~e (b) ot th~
oext pcec~dln~ pu~apA s6aU bs credited to tl~t priacipal o[ tbs mo~t~~~~ as ~o[ t6e d~te ot t6e commencee~ot ot [onclo~nn pro-
ceedlo~s or ~s c[ t!w date W~ peopert~ is oW~ewLe ~cquired: aad sccu~ulations uodee tbeeeot sl~all b~ WcewLe credited un-
bss eeQufred to p~y suma due tbe Secretary ot Houslu~ ~ad U~baa D~wlopoent ~mder We Coatr~ct ot Yoctpp insar~nce;
Il. '11rt It will p~T •Il tues. ~isessmenb. w~ter rates. ~od oth~r soverassnt~l or munlcip~l cbar~e~. tines. ac impositioaa. Iar
whtch pw~Lion 6as not bean made bp p~~menb as bereinbstore pwvided. ~od in def~nlt thereot tbs odortsa~se ayr p~y tbe sar:
~nd that it wiU promptly deli~rer t6e ottici~l ~ecelpts t6erelor to tbe a~o~tpne;
12. 'Il~e matp~ee shaU 6~ve tLe ri~t to q~ oort~~e inauranct proalums to We e:teat tLe ume. ace not pwvlded fos br pa~•
ments made b~ tbe noet~o~ ~wder subpar~~pb above; .
13. Tlrt it wiU permit, commit, or su[Eer no waste, lmplrment. or deterianUoo ot uid popert~ or ~nr part thet'eot: aod lo tM
event of ehs [all~ve oE tl~e moct~~ to teep tLe bniWinQs on s~id premises ~od those to be erected on uW pemise~. or ispo~e-
ments tbereoa 1s Qocd reP~l+. t2~e mort~Qee ma7 make anch rep~lrs as ln ib disceetlon it ma~ deem oecess~rp tar tbe proper preM
enatloa tbered. and the tnII amount of each and eveq snel~ pqsent sbail be Is~ediatel~ due and payabls. aad s1yU be secured
br tbe lion of this mat~~e;
14. 'l'h~t it will p~~ all and sin~ular tLe cost~. charees aati e=peases. tacludln~ reasooable l~w~er's tees,and ca~ts ot ~bstr~cts
of titb. incu~red or paid at an~ tioe b~ tbe mort~a~ee because o[ t6e hilnce oa t~e part o[ tbe mwtp~ar proanptir and fully to per-
focm the a~+eemeats and covenanb ot s~id promissor~ note aad this mortpee. and uld cosb. cbarQes. and e:pcnses s6a11 be im-
medLtel~ due ~ad p~~~ble and ~hall be securod by tLe ILea of this mortpee:
15. T6at the lmpwnements about to be ~de upon tbe prea~ises ~bove descrlbed and ~11 pLns ~nd speclticatioos eomplr with all
munlcip~l adinaaces and re~Ltions made or promul~ated b~ L~r[ul ~uWodtp. and t6at the wme wilt npan coapletlon complr witb
all soch municip~l a~dia~nces and re~Ltions ~nd wlt6 t6e n~les of the [jre ntL~g oc iaspectlm or~anisatian. bureau, asscelatiao
or ogice; _ _
16. Yartpgor covenants aad a~eees fLat so ~lon~ as tLis mort~~e and the sald note secured hereb~r ~re insnred or held b~ tLe
Secretar~ of Hoosin~ and Urb~n De~elopmeat under the provisioos of ffie N~tioo~l HousiaQ Act. It will not e:ecnEe or [Ile for record
~o~ instrument w6ich imposes a restrictim upon tbe sale or occupancr ot t6e mort~aged propert~ on theb~sis of race. color or creed;
17. In tLe eveat ot an~ det~nlt on ehe pvt o[ t6e moctpQoe bee~euoder. tbe mat~Qor a~ees to q~ to t6e mo:tp~ee m demaa!
4s a reasoo~ble montbl~ rent~l fa We pcemises ~n amouat ~t le~st equiv~lent to ooe-twelft6 (1/12) ot tLe a~e~ate of tbe 12 sontb-
lr Lnstallments p~~ab1e in the Wen c~urent ~eu plns tbe ~ctual amant ot tLe amwl ta:es, assessmenu, water ntes, aad insw~
Qace premi~ns [or snc6 year not covered b~ tLe aforeuld monthll pa~rse~s:
18. 'I~t in tbe event of de[ault In making an~ montbll p~~ment pro~lded for hetein or ia t6e note secursd hereb~, and it suc6 dr
Eoult is not made good pdor to the due date of the nezt snc6 iostallment. or in the e~ent ot a breach of ~a~ otLer stipulatlons, a~er ,
meab. cooditims and covenanb of Wts mortp~e: then in eitber or an~ soch e~ent, the said a~eQate som mentiaaed 16 itatd note
, tben remaiaia~ mp~id, witL 'mtercat rccrued to th~t time. ~od •Il moners secared 6ereby. sbail become dne and pa~abl~ forthwltb.
or tberea@er. at the option of s~id mortg,s~ee. as fnII~ and completel~ as I[ ~ll of the said sams ot mcne~ wete otiQioailr stipnLted
to be p~id oo suc6 d~Y, aaythinQ in aaid note or in this mortgage to the coatrary notwitLsLndia~ ~nd theroopon or theceafter, ~t t6e
option of s~id mortQp~ee, witbont notioe ar demaad, suit ~t L~v or in eqnit~, m~r be prosecated as if aII moaers src~red hereb~r hrd
~i mat~sed prior to its institution. 'lbe mort~~eee may foreclose this mortQ,a~e. as to the ~mounts ao decLred dae and pa~~ble, aod tLe
s~id premises shall be sold to satisfy and pa~ tbe same together with costs, ezpenses. and allow~nces; in case of parUal foreclo-
sure oE this mortQage, the moctgaged pcemisea s6a11 be sold subject to the cantinuinQ-liea of thL mort~a~e tor the amonnt oE tAe debt ~
not tLea dne ond nnpaid. Ia snch case the provisians of t6is paragrap6 ma~ aQain be availed of thereatta trom time to time b~ the ;
moctgagee; ~
19. 'lbat t6e ma~rtg~gor will give ~mediate notke b~ mail to ffie mortga~ee of anr fice d~saee or otber casu~lt~ to t6e prem- ~
isea. or of any convey~nce, transEer. o~ cbange of ownership of tbe pcemises;
Z0. T!ut no wpiver of an~ covenant 6ereia or of the obligation secured herebr s6a11 at any time t6erca[ter be held to be a~vai~er ~
ot the terms beeeoE or of the aote secured 6ereb~; ~
21. 'lbat all p~~ments made b~ tbe mortgagee to remedy a default b~ the mort~~or ~s atoresaid(includlag reasoaable attome~'s ~
fees) sha11 be qdded to tbe debt securcd by this mortgaQe aad shaU be rcqid to tbe mortgagee upoa demand. M~ suc6 sum and in-
tercst tLereon at the same nte ~s pcovided in tbe note secured herebr shall be • 1'un on tbe prcmises, prior to an~ other lien ~ttacL• 3
ing or accruiag subseqnenc to t6e tien ot this mortgaQe; ~
22, Tiwt tbe mailin~ of a written notice or demaad addressed to the owner ot record of the mort~a~ed premises, or directed to ~
tbe sald wvner at the last address actwil~ t~rnished to t6e mort~gee. or directM to said owner at spid mart~~eed premises, and
mailed br t6e Uaited States m~ils, shall be suHkient notice and demand io ~ny c~se ~rising ~mder t6is inatrumeat amd rcqujred b~ ;
tl~e provlsioos 6ereof or by l~w; ~
23. 'lbat the mort~gor ~vill not voluntarily cre~te or penlnit to be cre~ted a~aiast tbe properqr sabject to tLia moetQ~Qe any tien
or Ileas joferior or anperior to the liea of this mortQaQe aad f~utber t6at it wrill keep ood m~intain the asme tree trom the claim of all ~
persons supplring Lbor or mataiab which wrill enter into tLe constinctioa ot an~ ~ad ~11 buildinQs now bein~ eeected or to be
e~ected oa said premises; ~
24. 11ut tLe fwids to be ~dvanced 6erein are to be used in t6e coastructlon oE certain improvements on the Lna herein described. ~
in accoeda~e ~vith a buildiog loan ¦~eement betwreen t6e mort~gor and tLe mort~a~ee d~ted $@p't@IDb@l' 19~ , wr6ic6 ~
building loaa o~eement (ezcept suc6 part ot p~rts tbereof as ma~ be Inconsisteat 6ere~vitb) is iocorporated bercia bp relereoce to
the same eztent and etfect os if fntlY set [orth oad m~de a p~rt ot this morteaQe; and if the coostr~ction o! the improvements to be
m~de porsuant to sald bailding loan ag~teemeat shall not be carried on with ~easooable dilieence, or s6all bedlscontianed at ~ar time ~
for aa~ reason othet tlwn striices or lock-onts, the mortgagee, aRer due notice to ffie mart~~or a~ ~a~ snbseqneat owner. is 6ereb~ s
invested ~vith inll rnd complete aatbority to euter upoo the aoid premises. tmQIO~ ~II~~C~lO t0 ~O[!M SOCh lIDQfOR~lQLS EfOm dlQ~ ;
rcdatioa or iajur~ and to preserve oad pcotect tbe peesooal propert~ tbereio, ~nd to cootinue anr aad all ontshndin~ coatncb tor tbe ~
erection aad comp4tion o[ said buildfag or bulldiag~s, to make and eater into an~ contr~eb ~nd obli~ations w6ere~er oecess~.
either in its awn oame or iu the name of the mort~gor, and to p~~ ~nd discharge all debts, oblig~tions andliabllitles incurred tbere- ;
by. All sach smos so ~dvaaced b~ tbe mortpgee (ezcluslve ot ~dv~aces ot tHe princip~l of tLe indebtednas secnred 6ercb~) shall ~
be added to tbe principal d tLe indebfedness secared hercb~ and ~6~11 be securcd b~ tt~Is mort~ge and shall be due ~M.pr~~ble on
demand wltb interest at the rate of tbe saae rate os provided in the note secnred 6ereb~, but no soc6 adsances a6~ll be inaured nn- ~
lesa sama are spec~call~ opproved br t6e Secretary o[ Housiag~and Urbon De~elopment actiag b~ ond throug6 the Federal Housiag -
Co~issioner prior to t6e m~hing thereof. T6e princip~l snm and other chorges pravided (or herein shali, at tLe optlan of tbe mort-
gagee or holder ot thls mort@~~e ond the nde secared bereb~, become due ond p~able on tbe t~ilore at tLe mortgaQor to keep and
paform anp ot the coven~nb, conditions, and •peevents of said baildinQ lo~n •~eement. This co~enant shall be terminated upon '
tLe completion of the impcoremeats to tbe satisf~ctlm ot t6e mort~~ee and tbe m~tiag ot tbe t3na1 ~dvance pwdded Ia s~id ~
buildin~ loan a~eement; 4
i
25. T6e covenants 6erein contained ahall bind, and tbe beuetlb and advaataees s6a11 imue to, the rospectlve snecessars ~ad ~
assigns of tbe p~rties hereto. ~henerer used, tLe afn lar n~btr sbaU iaclade t6e plur~l, the plunl t6e sinQuiar, and the we ot
any gender shall include ail Qeaden. ~~~67
~sa.~ w:, _ - - - _ £ x x. ~ -
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