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Ihat. ~n urJci n?.~rc tull~ tu pr.~tctil tht ~tcunt) of th~~ m.~rt~;sgr. tAr nn,ct~;.,g.~r. t~+grlhrr with. .uaf in .aldiuun lu. thr i~~.,n~hi~
pe~mtnt~ unJrr ~Ae trrm. .~t thr n.~tr .ctiuccd hrreh?, un thr iint Ja~ ~~f ra:h ro~~mh ~~~til tbr .:Kl n.+tr i. fu41y p~~J, N,11 p~~ t.~ thr
nwrtgagrr thc fi~li~~w ~ng ,ur.n.
Ia1 1n imc~unt wffi~ ~eni ~u Fxu.~~Jc ~he hulder Anrr.~f wuh furxl~ to pay the next murtga~e inwrao.e p~~m~um ~f thi. m~t~ume~? and
!ht nutt xcured hcrrby arr ~mu~ni, or a m.?ntAly charge Im liru uf a murt~a~e insurance prrmwm) if the~ are hrld b~ tht
ticc:retary of Ni~w~ng an~ t: rban Developmrnt, a~ folluws: !
lU If and ~ lorte as w~d rx~tc of eve~ date and thia inatrumCnl urr irtsurcJ or arr re~n.urrd unJrr the pruvu~~~n~ of the :
Nauu~si Hou~~ng Act, s~n amount ~ufTic+ent to accumulYte in the Aan.i. ai the h.~lder ane 11) munth pr~ur to it~ due date the
annual nwrlgagr ~n~urancr premwm, euder to provide ~uch hedder wuh fund, to pay wch prrmwm ~o thc Srcretary of
Huus~ng and Urban [kvelc?pmem pur~u:.nt t~. thr Nanunal Ne~us~ng 1ct. snxnded, arni appl~ahie Rtgulau.~m '
thereund~r: ax
I11) lf end x? long a..aid n.~te uf even date urni th~. irntrumrnt arc held t+y the Sccretuy of H~w.~ng and l~rbr.n Devel.~prtxnt. `
a rtKxtthl~ charga Un I~tu .~f a murtguge imurancr {xrmium~ wh~ch ,hall hr in an :,m.wm ryual u~ .~ne-tweltth 1 U121 uf }
unr-half ~!:I per crntum uf the a~crsgr uut.t;~rxii~g bsl:~ncr due ~~n the nufe computrJ M~thcwt ~a?~ng ~ntt~ a~z.~unt ~
Jrlinquencir. ~ir prepa~ ments;
Ibl ~um tquai to the g~uu?xf rcnts, if ao~•, nr~t dur, plus the prrm~urm ihat w~H nezt btcnm~ due and payaMc ~~n ~wirc~es of firc
ar?.i other hxz~rd ~nuuance u?se[~ng the mortYdgr~! prupertk, plus txxr~ and iax~smrnt. nrti~ due ~+n the m~xignged prope~ty lali
a+ esamated by the murteageel Ic..c all sum~ alrcad~ pe~d therefor J~vidod t+~ the numt+er of muntM tu elap.e t+ctorc ~?ne munth
prior tu the date ..hen wch ground rems, prem~um~, taxes. and a~~exsments will hecome de6nqucnt, such sums to be hcld by
mortgagec ~n tru~t to pa~ .aiei gnwrtd renL~. premtums, taxes, ~nd spec~al assos,mrnt.: and
tc) All paymenw mentiuned m the twv preced~ng aubsecuon~ of thn para~raph an~1 all paymenU to t+r m:?.ie under th~ nate ucured -
herrh> >hall be udded tugrther and the ag~trrgate amoum therc~~f shall t+e paid hy the mortgagu~ eacA muntA in a~ingte pa} ment
to hr apphed by the murtgagee tu the fullc~w ing hrrm in the order ~et forth:
IU premium charge. unJer thr cuntract of ~murance w~~th the Secrctary of Hou+ing and U~han t?evel.?pmenl, or rrx?nthly
~harge l~n Ireu of mcxtgage ~naurnnce premiuml, a~ the case ma~ be; ;
i 111 gr.wnd rent., taxr~, ax.cssment~. 6re, and other hazard inwratwe prrmwms:
111!) i~icrett on ihe note xturtYl hereby: and
11~'1 amoniiauon of tAe pr~nc~pal of wid note.
An) ~fwir?tcy in the enwum of.u:h a~rcgatr munthh pa>mrnt +hall. unle.~ m~Jt g.xKi M the mortg.~g~x pn~.r to the Jue date of
the ne~t wrh pa~mrnt. ~omututr an r~rot uf drfault undrr th~~ m.~nFage 7he mort~agee may cull~tit a°latr ~har6e" ni~t ta er:erd tvru
:ent~ 12c1 [or C:iC~I ISUII:ff IS~ I.~f e:?~h pa~ment mort than fifteen I l~i dayt ~n arrrar~ t~~ cover the e~tra r~E+rn~r in~~ul.•rd ~n hancliing
delirx~uent paymrnt,.
z 7hx1 ii thr tutal af thc pa~mrnt+ maJe h~ the m.irtgagor unJer ih1 of pa~agraph ~ prtccdinF ,hsll e>~red thr am.~unt ~.f the
paymrnt. act~all~ madr h~ the murtgager. f~~r grounJ renl+, ta~r. and a,.c~~mrna anJ inwrsn:r premium~_ thr ~a+e ma~ tx..uct.
exce~ at the opt~on uf th~ m~rtgagce, shali, be credited on wbseQuent payments to be made by tAe mortgagor, or refunded to the
rtx~rlgsg~r. If, huwe~r~, the rtx~nthl~ p•rymrnt. made b} the m~~rtgagor under Ihl .,f paragraph 2 prc~rding .hall nut be .ufficient to pa~
gre~und rrnt~. ta~c~ and a,.ectiment~ and in.uran~e prrm~umc. a. the cax mey t~r. .?Arn the +amr ~hall hr~ome dur arxi pa~~hte, then the
nx~r[g:tg~~r ~ha~i pat to thr murtgcigrr ~nt amuurti nece.~an ~o maAr up thr defi:~ern~. un ~x before the date when payment of .uch
gn~und rent., t;~ar~, u~.r,.ment+, or imur.~nce prrmium+ shall t+r dur tl ai an~ nmr the mortg~g~u ,hall tendri ii~ the murtgagre m
accurdance Nith the pmcis~un. of thr nott.ecurrd hereb~. ful) pa~mrni uf the rntirr ~ndebtednr~ represrntrd tAereh~, the mortgagee
shall, in computing thr am.~unt cif ~uch inelehtrdne~z, cre~fii tu thr a~cuunl of thr m~xtgag~x all pa~ ment, ma~1e under the pn.v„ion~ uf Inl
of paragranh'_ hereof whieh thr mortg~gee has not t+e.i.me ohl~galrJ tu pa~ to thr Secreta~ oi Nou,inF and l'rhan Drvelapment ancl an~
b:~lancc rcrtwining ~n the fund. accumutated uneier the pruv~~k~m of tht of .:~id paragr:Mh If there .hatl !+r a default under any of tAe
prurhiun. of thu murtgagr, re+ult~~g ~n a publ~r .ale uf thr prcm~.r+ cu~rntl hrreh~. ur if thr mixtgsgcr acquut. the pruperh uthrrw ~sr '
:sfter detault, the m~xtgngee ~hall apply, at thr t~mr ot thc .;ummc:n~rmcnt uf ~w;h pnree~i?ng+ ur at the Umr tht pruprri~ i. .~therw ix
e~:ywrrd, the h;~lance th~n rema~nmg ~n thc fund~ ~c:umulated undrr !hJ of paragraph precr~ling a~ a c~edit agamt the am~~unt uf
pr~nc~pal thrn rrma+n~ng unpa~J un~frr .~~J nulr anJ ,hnU pr.~prrl~ ad~int :~m pa)mrnt~ v~hi~h ~hall hs~r l+~en maJr unJer +~~t of ,;iid
paragraph.
~ ~3. lha~ he Nill pa~ all ta~r., a+~~+~mrnt~. watrr ratr,. and uthrr gu~rrnmentat ur mun~c~pal chargc'+. finr~, or im~x~~rtiun~. fur ah~ch
t pruct.ivn ha~ nw brrre made hrreinbrfurr. and in Jrfauh thrrruf thr murtg~grr ma~ p:~~ the wme: and that he w~ll prumpth delrver the
official ta:eipts iherefor to the mortgagec.
' S. That he v~~itl ~ermit. cc~mmtt. or tipffrr n~~ Na.te, impa+rment. or detene~rau.•n uf ~n~d p~~pert~ ~x any part thereof; nod ~a the r~ent
~ vf the failurt uf !hr rrx~rlgagor tu ?tep tt~ huilJ~ng~ ~n w~d premur~ and thuse tu hr e~ceted un ,a~d premisc~, ur impruvement~ thrrron.
? m exrd rc air. the rrK~rt ~a rr ma~ makr wch rr eir. a. in it~ di<<YCti.~n it ma Jeem necessary f~x thr prt+~+er preservation thereof. and
E B P' b R P' )
the iutl artwunt uf r:~:h and c~rn .uch pa~ ment ,ha(1 hr ~mmrd~atrl~ dur snd p~~ ahte. ancl ~hall t+e u~urrd ht the lien uf thi+ mortEage.
E b. ~That hr will pa~ all anJ ~~ngular thr c~rh. .hargr~. snJ e~prmr.r. ~r?~luding rta+unublr lawyrr'~ fer~. and cosh of aMtrach uf lrtle_
, ~ncurrrci ur pa~d at an~ time b~ the mortg~re becaui~ uf the fa~lurr un the part uf the rtx~rtgagur prumptl~ and fully ta F+erform ~he
7 agreemrnt~ and covenants of ~aid promissort note anJ thi~ m<~rtgage. and +a~J ccnt~. ~hargrs. anci eaprn+r+ chalF t+e ~mmediateh due and
't pa~:~hlr anJ +hall he secured by thr lien of ihis mvrtaagr. ~
~ 7. t hat he will kcep the ~mprovement~ now e~nsting or bereafter erectrd on the mungageci propcrty. imurrd a. meg hr rrywrctil from
umr tu ume hq the mortgagee againct Icn~ h~ fire and uther ha~ard~, cawlatir~. and contingerxxie+ in iuch amounts and fur ~uch ~riucis a+
may br rrau~red h} mc~rtgager. and wiH pay prumpUy. when due. an} prem~um~ un ~uch ~n+uratxe fcx pa~ men! of which pravi~iun hat not
been made hereinbefore. All insurance shail be camed in companies approved by mortgagee and the policies and renewals thereof shall
t?e hrW hy mortgagee and have attached thereto icns payabfe clauus in favor of and ~n form asceptable to the mortgagee. In e~•ent uf luss
hc M~li give immediate notice by mail tu miutgagee, and mortg:?gre may make prwf of luss if rwt made prompUy by mext~:tgor, nr~ each
~murance compan~ concerned i~ hereby authonted and directed to ma?e payment tor such los~ directly to mortgagee instead of to
; rtx~rtgagor arxi morigagee jomttp. and [hr inwrancr proceeds. or an~ part thereof. rrta~ be upplied by rr~rtgager at it~ uption rithrr tn the '
reducuuo uf the ~ndebteJneu hereby secured ur to the rectorat~on ix repa~r of th~ pruperty damaged. In event of furedo~ure of th~s
rtwrtgagr ur other trarLSfer ut utle tu the mortgaged p~aperiy m cxtingw #:ment of the indebt~lness ~ured h~rehy. all right. udc, and
' ~nterest of thr mcxtg:~or in and to any insurance paticies thzn ~n f~rce ~ha1~ pass ic~ the purchaxr or grantee.
~ 8. Thnt thc mrn~gagee may, at any timt pending a suit upon this mortsage. :~ply to tAe court having juriadrction thereof for the
~ appo~ntment oi a recerver, and such court shali f~xthwiih appoint a rece~ver of the prermses cAVCred hercby all and Wngular, includmg all -
_ and s~ngular the int:ome, profits, issues, and revenues from whatever wurce derived. each and every of which, it being cxpressly
< understood. ~5 hereb~ mortgageci a~ if tipc~-~fically ~rt fonh and dexenhed in the granting and habrodum clau~es hereof, and +uch rr:eiver
~ shall have all the broad and effecu~e funct~un~ and poNen in anyM~x entrusted by a court to a receivrr, and such appointment shall be
i made by suct~ cuurt a. an aJm~tted equ~t} and a matter of aMulute right to sa~d mortgagte. and x ithuut reference to !be adequacy or
~nadeyuacl of the value of the propertq mortgaEtnd or to the solvency or insol~•ency of ~a~d rtwrtgagor or the defendent~, and that such
- rent~. profits, incume. ~tisues_ and revenue. shall be applied try ~uch receiver acco~ding to the hen of thi~ mortgage and the pract~ce of such
court. In the event of any defautt an the part d tht mortgagor hereunder, th~ rrx~rtgagor agrces to pay to the mortgagre on demand aa a
reuonable monthly rental for tht premises an amuunt at least equivalent to one-twelfth i 1~121 0( the aggregate of the twelve monthly
- installments payable in the then current year plus the actual amount of the annual taxes, asspsmcats, water rates, and ~nwrance prcm~ums `
? for such year nc~t covered by the aforcya+d monih!
y paymrnts.
9. That (a) ~n the event vf any txeacF of this morigage or defauk on thc part of the mortgagor. or 1b) in thc cvent that any of said
sum~ of money herein referred to be not prompdy and full~• paid witbout demand ur no[ice. or Ic1 in the event that each arxi every the ;
_ scipulatiom. agreemrnts. cund~tiort.. and covenants of sa~d note a~d this murtgage, are not duly. prompUy. and fully perfurmai: then in ;
etther or am wch event, the ~a?d aggregate sum menuoned m sa~d ocne ther. remain~g unpa~d. Miih interest accrued to that time. and all
_ trn~ney~ `ecured hereby, shall becomc due and payable fcm~wilh, cx thereaftcr. at the opuc~n of ~aid murtgagce. a~ fully and ~ompietel} a~
if all of the sa~d sums of money werc vrigmall~ .tipulated to be paid on such day, anything in ~a~d note or in thi~ mortgagc tu thc contrar}
` ~wtv.~ths?anding; and ihereupe~o or tAereafter, at theoptw~ oisa~d mortgagee, whhuut notice ur demarxl.,urt at IaN or in eyw~p. may be
; pnnecuted as if aU rtxmey~ ~ecurcd hrrehy had mawred prior to its institutiun. The rtx~rtgagee mar f~xeciuse ~hi~ murtgage, as w the
amount x~ declared due and payablc, and !he w~d premnec tihall hr wld to ~atisfy and pay the same together with co~ts, rxpenxs. and
- aUuwancr~. In casr ~rf partial furecki.ure of this mortgnge. tt?e mongagrd premises shall be wld wh~ret W the contmwng lien uf this
rtn~rtgage for the amount uf the drM nut then due and unpaid. In +uch ca_~e the pruvu~um uf 1h~~ peragraph mu} egain be a~ailrJ af
therrafter from timr io t~me h~ the murtgagrr.
10. Cha1 the mor~gegor N~II g~.e immeJiatr noucr by matl to thr murtgagee uf am ce~mr~anre. tramfrr. ur change uf i~wnrrnhip of
the prrmnr~.
- I I. Ihat n~~ waivrr of an~ r~»enant herem or uE the ubligaUun ~ecurrd hereb} shall -sl am t~mr thrresfler t+r hrW tc~ hr a wa~~rr of
the lrrm~ hrrrof t~r o( thr n~~te ~e:ured herrh~.
t~. ~hat ~f thr inur[gagar drfault in an} of the covenants or xgreemeMti canta~r?ed here~n. or in tiaid nute, then the mvrtgagre may
perform the sarne. arnf all exprnJ~~urr~ ~~ncluding reatonatMe attorney's fea) made by the m~xtgager in w du~ng shall draw interest at the
rate xt forth in thc rx~tc tiecured hrreb~. and shall be repayable ~mmod~ately and wrthcwt demand hp chc mortgngur to the mortgagee. and.
wgeiher wrth ~nterest and cotitt accruing thereon. shall be secured by this mortgaRe.
~ $oac 1y$ ~2??~!
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