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said mo~tgagoc does bereby fully Naerant t6e tItle to said land, aad every pad tbeceoE, aad will defend the same
against the la~rful claims oE all persoos wboo~soever.
PROVIDED ALWAYS, aud these pceseats 4re exet:uted aad deliveccd upoa the follow~ag conditi~as. to alt:
The matgago~ agrees to pay the matgages. a ader, the princlpal sum of
HLBVBN T~~OUSAND SIR HU~IDBBD FIF1R AND NO/100-------------•~-•-------------------
Dollars (S 11,650.00--------), as evideaced by a note of evea date herewitb, with iaterest fm~n date at the
~ate of --------------Six--------------- Per cen:uoi (-----6--.11'.) Pe~ aaaue oa tbe uapaid bala~ce
uatil paid. The said priacipal ard iatecest shall be peyable at the office of Natiorial Ho~es ACGeptance
Gorporation, Lafayette, India~a
or at such vther place as the holder of the note may desigaate ia writing. in moathly installmeats of
Sixty Nitcte and 90/100-------------------Dollecs (t 69.90--------------~? comc~eacing on
the first day of Jaauary . 19 68 . and oa t6e first day of each a~onth thereafter w?til the principal
and inte?est aee frilly paid, except tbat the final payiaeat of ~incipal aAd intereat, If aot soooer paid. shall be due
and payable oa the first day of December 1997 ~
A~d shall duly. promptly. and fulIy pedorm, discharge, execute. effect, complete. and comply with and abide
by each and every the stipulatiaas, agreemeats, conditions. and covenants of said pcanissors~ note and of this
mortgage. then this mortgage aod the estate heceby created shall cease and be null a~ void.
And the mortgago~ fu~ther covenants as Eoilows:
1. That he will pay the indebtedness. as hereinbefore pcovided. Pri'vitege is reserved to pay the d:.•bt in arhole.
a in an amouat equal to one or mae monthly payccents on the principel that sre next due on the aote, on the first
day of any montb prior to maturity: P~ovided. however. that writte~ notice oE an iatention to exercise such privilege
is givea at least thicty (30) days ptior to prepeymeat; and. provided further. that in the event the debt is paid in
full prioc to a?aturity and at that time it is insured under the provisions of the Natioaal Housing Act, he will pay to
the mortgagee an adjusted premium charge of one per centum (196) of the ariginal principel amonnt the~eof. except
that in no event sfiall the adjnsted premium exceed the aggregate amou~t of ;.emium charges which would have
been payable if the mortgage had caitinned to be insured until maturity; such payment to be~applied by the moct-
gagee upon its obligation to the Secretary of Housing and Urban Development on account of mortgage insurance.
2. That, in order more fully to protect the security of this moKgage, the dortgagor, together aith. and in addi-
tion to, the monthly payments under the terms of the note secured 6ereby, on the Eirst day of each month until the
said note is fully paid. will pay to the moctgagee the following sums:
(aJ Aa amount su[licient to provide the holder hereot ait6 fuads to pay the next mortgage insurance prcmium if this instnr
ment ond the note secured herebr are insurtd, or a monthtr charge (in lieu of a mortgaee insuraace premium) if they ~re
held by the Secretar~ of Housing aad Urb~n Developmeat, aa iollowa:
(I) It and so long as said rtote ot even date and this instrumcat are iasured or are reinsnrcd mder the pro~isions of Wr
National Housing Act, aa amount suf(icient to accumul~te ia the hands of the holder oae (1) month prior to its due
date the aaaual mortgage insurance premium, in order to provide such holder ~vith funda to pay suc6 prcmium to tde
Secretaq of Housing ond Urban Developmeat pursuant to the Natioaal Housing Act, as ameaded, and applicable Regu-
lations thereundcr; or
_ (II) If and so long as said aote d evea date snd Wis instrument ue hetd br the Secret~ry ot Housing and Urban Develop-
meat, a moothtr charge (w lieu ot e mortgage insunnce prcmium) wrhich shail be in an amount equal to one-twel[th
(1/12) ot one-half (yS) par reAtum ot the sverage outstrndiag balance due on the ~te computed without taking iato
account delinquencies or prepaymeats;
(b) A sum equal to the ground rents, tf aay, ae:t due. plus the premiums that ~rill aest becorae due aad payable on policies
ot ~re and other hpzard insurance co~erlag the mortg~ged propertr, plus taxes ~ad assessments eezt due on the mort-
gaged property (all as estimated bp the mortgagee) less all suma ~Ireadr pald therefor divided by the number o[ months
to elapse before one manth prio? to the date wrhen such ground renta, premiums, ta:es, and assessmenis wiil become de-
linqueat, such suma to be held by moctgsgee in trust to pe~ s~id groaad rents, premiua~s. tues, oadspecialassessments;
and
(c) All payments mmtioned in the tvro preceding subsections oi thia paragrapb aad all pay.neats to be made ~mder the note
iecwed hereby shall be added together aod the aggregate amount thereof shall be paid by the mortgagor each month ia a
single payment to be applied by t6e mortg~gee to the [ollo~ring items in tbe order set Eorth:
(n premium charQes uader We contnct of insurance ~rith the Secretary of Housing and Urbaa Developmmt, or monthl~
charge (in lieu af mortgage iasurance premium), os the case m~r be;
(II) ground rents, tazea, assessments, [ire, aad oWer hazard insurance prcminms;
(IIn interest oa tLe oote secured hereb~; and
(I{~ amortiz~tian of t6e p?lncipol of said note.
Any deficiency in the amount af such aggregate monthty payment shall. unless made good by the moctgagor
prior to the due date of the ~~ct snch payment, constitute an event of default under this mortgage. The modgagee
may collect a"late charge" aot to exceed two cents (2~) for each dollar (Sl) of each payment more than fifteen
(15) days in arrears to cover the e:tra expense involved in handling delinqueat payments.
3. That if the total of the peyments mede by the mortgagor under tbI of paregraph 2 preceding shall exceed i
the amount af peyments actuelly made bq the mortgegee, 'fbr gROUnd rents, taxes and assessments and insurance
premivms, as the case may be, such excess shal! be credited by t6e mortgagee on subsequent payments to be J
made by the mortgagoc_ IE, however, t6e monthly pay~ents made by the mortgagoc under (b) oE paragraQh 2 pre-
ceding shall not be sufficient to pay ground rents, taYes and assessmants and insiuance premiams, as the case
may be. ~hen the same shall become due and payable, thea the mortgagor shall pay to the mortgagee any amount
necessaty to make up the deficiency, on a befae tl~e date when payment of such ground rents, taxes, assessments,
or insurance premitims shall be due. If at any time the modgagor shal! tender to the mortgagee in accordaace with
the provisions of the note stcured hereby, fult payneent of the entire indebtedness reptesented thereby, the mod-
gagee shall, in canpating the a~ount of such indebtedness, credit to the accoant of the mortgagor all peymeats ~
~ made under the pravisioos of (a) af peragfaph 2 hereof which tbe matgagee hes not become obligated to payto
the Secretary d Housing and Urban Developaeat and any balaace remaining in the f~nds accumulated under the
provisions of (5J of said paragraph 2. If there shall be a default uader aay of the provisions of this moctgage, re-
sulting in ~ public sale of the premises covered iereby, or if tfie mortgagee acquires the propedy othecwise after ~
default, the matgagee shall apply, at tbe time of the commencement af such proceedings or at the time the prop-
edy is otherwise acquired, the balance then rema;ning in the fnnds accumulated under (6J of paragraph 2 preceding -
a9 a credit against t6e amou~ of principal then remaining unQaid undec seid not~ and shall properiyadjnst any ~
payments wbich shall 6ave been made under (aJ of said paragraph.
4. That he ~rill pay all taxes, assessments, Water rates, and dher governmental ot municipal charges. fines, f
or impositions, for whic6 provision has not been made hereinbefore, and in d~efault thereof the mortgagee may pay
the same; and that he arill promptly deliver the dficial receipts therefor to the mortgagee.
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