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lhat. ~n ixdrr nwrc full) prutcct the ,rcuruy of th~s ~nurt~a~t. thr nwrtg:~gur, tugrthrr wi~h, :uHi ~n a.lJuwn to, thr nk~ntM~
paynxnl+ unJcr ihe te~ni~ ~t thr n.ur ~ctiur~~i hrrrhy, un ~he hnt J~y uf r:kh nwnth unUl the .:~Kl n~.tt n tully pa~d, N~II paf thr
rlx~rlgag~`r tht fuli~iN~n~ ~ums:
lat .1n :+r,w~unt wffkient tc~ pruviile the h~dJer hereof wilh funcis t~i pay tAe next mortbaYe ~nsur•rnre prrmium if ~hi~ ~n~trumcnt and
' the notr xcured hercby arc inwrcd, a a munthly charQe lin lieu of a mortgage ~nw~an:e prcmiuml ~f tAey are Aeld by tht ~
Srcretary c?f Housing and Urban ikvelopmeM, as fdbws:
IU If and so long as +aid note oi even date and this instrument are insurcJ or arc re~nwrrd urxie~ the pruvisi~:u. uf the
National Huusing Act, an amouot sut~icient to sccumulate in tAe h~?mis ot the twlder one t i 1 mc~nth pr~or tu ~t~ due Jat~ the
annual mo~tgage insurance Exrmium. ~n or~irr tu prov~Je .uth huldtr whh fun~+ tu pay wch prtmium to thr Stcrct•rry of
Housing and Urban De~~rlupment pur+uant tu 1ht l~at~unal Hous~ng :\c~. a~ :~nxnJrd. ~~xi ~{~I~caMe Rrgulauum
thrreunder: or
IIU If and w long as +a~d note uf evrn date and ihic instrumrnt are held by thz Secretary of Hcw,~ng and Url?an [kvrlopment,
a munlhly charge (i~ I~ru uf a murtgage ~nwrancr prrm~uml Nhich ~hsll hc ~n an artx~unt eyu~l tu unr-twrlhh ~1!1'_1 of
unt-half I~z) per centum ~~f thr avrraQr uutsta[xl~ng balurnt dut un ~hr nutr cumput~tii v?uhout ~:~?ing ~nto akuunt
Jelinquencit• ur prepaymrnt.;
Ib1 A.um equal ta the gr.,unJ rrnts, if an~, ne~~ dur, p{u. Ihr prrmiums ~hat will neat t+cti:ome due arxi papable on polic~es of fire
and otherhatard imuranera~veringihe m~rt6~+E~IK~'P~+H'~ P~~ and a~stssment. nett dur un the murtgagcd property lall
as twnwted by the murtgagtt) iesa all wms already pa~d therefcx div~decl by th~ number of months tu :lap~ befure ane munih
priur to the ~iate w hen su~h gruurnf rents, prCm~uqt+, ta~e., and :u~e+~mrnh w ill becume JeGnqurnt, such wm. to br hrld by ;
mongagee in ~ru~i to pay sa~d gnwnd rents, premiums, ta.tes, and .prcirl :u.ra~ment+; :+nJ ~
r
(c) All payments mentioned in the two proceding subsectans of ~his parag~aph and all payments tu be macfe under lhe rwte x~ureJ • .
hrreby shall be r~ldrd together and the aggrrgatr amount ~hereuf +hall be pai.i by tb~ rrwrtgagor e:tch month in a~inglr pay nxnt =
W be applied bY the martg~gtt to thr f~~tluw ~ng items in the orJer aet fonh: ~
111 premium chargcs under ihe comrac~ of ~nsutance N•ith the Secrctary of H~us~ng and Urt+an Devebpment, or ~rx~nthly
tharge lin litu ~f mortgage insurance premiuml, as the case may be; ~
1111 grounJ ren~s. tases, assessments, fire, and uther hat:ud in~urancr prem~ums;
U11) intrrest on the n.Nt tiecured hereby; and
(IV) amortiiation of the principal of said note.
.\ny deficiency in tht an~~unt uf ~u~h a~regate munthl)~ pa~ mrnt ~hall, unlr++ m3dr baxxl by Ihe murtgag.x priur W thc Jue datc of
the ne~t wch payment, cunatitut~ an ev~nt .~f dcf:~ult urxirr thi~ murtgage. 1 hr m.xtgagee ma~~ cullec~ a~~late charga" nut to r~cred tNu
cents ~2c1 for rach ciutlnr (SI? uf rxh pa}ment mure than fifletn (l~l da~~ m xrrear. tu cuver lhr e~~ra ex~nse invul~rd in harxlling
delinyuent pa~mrnts.
3. That if !he tutal of the paymrntti m:?de b~ thr murtgagur urnler 161 uf par:+graph 2 p~~teJing .hall rxcerd the anh~unt uf the
paymrnts ecwally maJr b~ thr m~xtgagre, for gr~wnd rents, taxc~s ~rxi saxvments an~ inwr~n~e premium~, as thr .:ax nuwy be, wct.
excess at the option uf the murtgagce, shall, be creciitai on wbsoquent payments to be r.iade by the mortgagur, or refuaded tu the
mortgagor_ ff. huNevrr, thr ~numhly p~ymcnu made by the murtgagur under Ib? uf paragraph 2 prectd~ng shall nut t+r ,ufficient to pay
gruurxi rent,, ta~~5 a~xi a.+arssm~nt. anJ inwranc~ premium., ati ~he ca+~ may be, v?hcn th~ wme ~hrll brcome Jue srx! payable, then the
rr~urtgagur ahall pny w thr mortg:+gre any amuunt n~~.sary tu ma?e up the deficirn.~, un ix hefure the da~e when payment of w~h
gruurxi rents, ta.~~~. a~x~~mrnlt, or ~nwran.e premiunu shall ?x Juc. If ~t any Umc the murtg:?g~x shall terxier w tht mortgagee in
accurd'ance with the pruv~~~un+ uf thr nute secured hereby, full paymrnt uf the rntire ~nJebtc~lne» repr~~nted thereby, the murtgagee
~hall. ~n compW~ng the amuunt uf auch inJebtcylnar~, crrJit to the accuunt uf the mcutgagoc all ps~ments made und~r :t?e provi~iuns of lul
~f paragraph 2 hrreof wh~ch thr murigaget h:?s nul become ~ligatr~l ta~ pay to the Secretan° uf Nou~ing arxl l:rban Development arxl any
balancc remaining in thr fund+ a«umulatctii undrr thr pru~~sium of 161 ~~f ~aid paragraph If thrre ~h~ll t~ a default urxlrr any uf thC
pru~ i,iuro of thi~ mixtgabr, rr+ulting in a public safe uf the prrmise. cuvtrctl hereby, or it tht m~xtgagee aoquire+ th~ pruperty utherw
aftrr def:sult. the murtgagc~ .hsll appl~, at th~ timr uf the commenrrment of .uch pnxe~dingi ~x at thr timr the pru~xrt~ i. uthrrw ice
acywrrd. th~ hnlsnc~ then remaining in the fund~ accumulatcYl unJer r6J uf par.+gr:~ph = precetiiing a~ a credit agaimt ihr amuunt of
prir,ripal thrn rem:un~ng unpaiJ umler +a~d notc anJ ~hall prop~rly adju.l an} payment. Hhich ~hall h•rve txcn made unJrr !u) uf +a~d
paragraph.
3. I hat hr u ill pa~ all ta~~~, a~x+smrnn, watrr ral~~. and .Kher guvrrnmental ur municipal charg~~,. finc+. ur imp~xwuns, fur wfiirh
prov~+~.in ha, nut hrrn made hereint+efore. and in defaull therrof tht mortgagee ma~ pa)' the same: and lbat hr will prom(~U}' drli~'er thc
uftic~al rri~~pt. Ihrrct~~r tu tht mort6agtx.
I h.~t hr ill prrmit, comtnit, or sufier nu weate. ~mpa~rmenl, or ~ceriuratwn uf .a~J praprrty ur any part thrreuf; an.f in ~hr r~•rnt
~ uf thr failure ~d thr murtga~r lo iceeQ the buiWing~ uo said premiie+ and thuse to br rrectrd un ,aid premne+. ur ~mpru~rment~ thereun.
! ~n g«~1 rrp:air, thr rtwrtEagee may make such repair~ as iA its diu~etion it may deem nece.~ar~ for the proper prr.ervatiun thrrcuf, and
''r the fuU ~nN~unt uf each and even wch pa~mcnt shall he immeafia!ely due and p~y~hle. arxi .hall tx sclur~Yf by the lirn uf thi~ rrwrtgage.
` t~. I hat hr will pay all urxl tiingular thr c~n~+. charFr+, anJ rxpen.r~. irxluJing rra+unabh IaM~er'~ fec~. and costt of aMtracts of tiUe.
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~ncurrctii ur paid at an~ iime h~ thr m~~rtg~gre t+e.au+e uf the failurr i~n the part of ~he rtx?rtgagor prumptly and fully to prrform the
~ ngre~ment~ and cuvcnantti uf :aiJ promi+eury~ note ~nJ thiti mixtgagr. and ~aid «ntc. chargec. arxl eapen,r+ tihal! br ~mmrJiately dur ~nd
payable a~d +hall ht secured hy thr lien of thi. mortgagr.
~ Thet he N~II krrp the ~mpru?'rmrm~ now existing or hereafter errcteJ on the murtgag~J pruperty. m.urrd a, may he reqwrrJ from
ume tu ume hy the rtx~rtgagee agaimt ta+~ by fire anJ uther hazards, cs~ulaur+. arn1 cunt~ngencir. ~n .uch amounh and for such periuJ, ac
~ may t+e rrquired by murtgagee. anJ will pay prumptly. Mhen Jue, any prrmium~ un wcb inwran~r fix p~yment uf whKh pruvitiwn ha~ nut
: becn made hereinbefore. All insurance shall be carried in companies approved by mortgagce and ~he policies and rencw•als thereof shall
t be hrlJ by mortgagee and ha~•e attacheJ thrreto luss payable clauses in favor o( and in form acceptable to th~ riwrtgagee. In t~•en~ uf los~
he will give immrdiatr nutice by mail te~ murtgagee. anJ mortg~gee may mai.e prouf of tu,+ if rx~t maJe prumpUy by m.Ktgagor. anJ each
~ ~nsurarxr cumpany concernrd i. herrby authexi~eJ anJ d~reYteJ tu maAe payment for ,uch tins directty tu mortgrger ~mtraJ of to
rtwrtgagor arxl mortgagrc ~uinUy. :?nd thr imurancr pruceeJs, .x any part thcreuf. may ~•applieJ by murtgagre at it~ upt~un rither t~~ the
reduction uf the ~ndrbtednr~s hereby +rcuraxi ur tu the rr~turatiun ~x repair uf the prnpert~~ JamageJ. In e~~nt of iurrclusurr uf ~hi~
rn~rtgage or vthrr tramfer of title W the mortgageJ proprriy in txungw~hment uf the ~rxirMeJne+~ ~~tiur~J hrrrby, all right. ~itlc. anJ
inte~~~~ of the m~xtgagix in and to any insu~ance policirti thrn in forct ~hall p~o lo the purchaxr or grantre_ ~
K. ~That Ihr nwrtgager may. at any timt penJing a suit up~~n thiti mortgage, apply to Iht ~uurt having jurixlicliun Iherrof fur the ~
~ ap~x,intriient uf a recei~er. anci wch cuurt tihall fixthwith ap~wint a recei~•rr of the premi,e~ covereJ hereby all and .ingular. ~rkluJing all
~ and ,~ngular Ihe ir?cume, prufit~. n~urs. and revtnur+ trom uhalever wurce deri~ed. rach arxl every of Mhich, u hring e~pres~ly
undrntu~rl_ is herth~ murtgagitil ac if ,~ificrll~ ~r1 furth anJ Jr.critx-J ~n the gram~ng :+nd haF+cnJum clau+es here~,f. :,nJ ,uch recrivrr
y shall havr all the bruaJ and rlTect~ve functiom an~! puwerti in anywi~e rntrustrJ by s cuurt to a re~ri~er. and ~uch appointment tihall he :
~ msJr b~ wch cuurt a+ an aJmiueJ equity ~nJ a matter oi abvdute right to wid nwrtgager. anJ N IIFIUUI f~fCfCfKC tu Ihr :~Jeyuacy or ~
• inadeyuacq u1 the vaiur uf ?he prupen~• mortg:?grd ex Iv the wivcncy o~ inwtvrncy uf ~:+id m.xtg~gar or th~ defc~drr.iti. arsc: that such
y`~.
~ renu, profita, inwme, i»ue~, arxl revenuea ~hull be applieJ by ,uch receivrr accorJing to thr lien uf ~h~. rnix~gagr arxi ~he practicr of tiuch ~
wurt. In the event uf any Jrf~uU un Ihe part of thC rnorlgagor hrrrunder. thr murtgagor agrcr. lo pay to the mor~gagrr un drmand as a
rea+onable monthl~ rental for the premisec an amvunt at least rquivalcnt to one-twelflh 11/12) of thc aggrega~r of the iwclve monthly
~ ~ostallmentc payable in the then current year plus the actuat amuunt d the annual taxes. acussmrnts. water ratec, and imurance prem~ums
~ fur su~:h year not covered by the afurc~id mu~thlg paymrnt~.
9. Thal 1u) in 1hC event uf aoy breach uf thu mortgage or defauh nn lhe p~rt uf lhc rr?urtg~gur. ur Ihl in the e.em that any of ,aid
- ~um+ uf munry here~a rrfrrre~l tu be not prompdy ~nd fully paid Nithout dem:+nd ur nuuce, or 1~ ? ~n the r~ent Ihat eaih and r~rn thr
stipulauum, agreemcnh. .~~ndiuunti, and c~ven~ntt oC 3aid nar anJ Ihn m~xtgagr. are nut duly. promptly, anJ fully pcrtorrrkd: thcn ~n
ehhcr ur any wch event. the wid :+ggreg:~tr .um menUUnrd in ~aid note theo remain~g un~aiJ. w ith ~nterei~ accrued tu th:~t Umr_ and all
- rrxmey~ xcured herrhy. ,hal! hrcome due and payablr f.xthw ~th. ,cr thrreatter, at the ~~ti~m uf ~aiJ m~xtgagre. s, l~dly and cumpletety :~ti
- if all of the ~aid sum~ of mcmcy Kere unginally +~ipulatrJ ~o tx pa~J un,u~h day. an~thing in ~aid nutr nr ~n th~~ ~ iut~~ a~ thc cuntrary
- notw~th,tanJing: and therrupoh or therr:?flrr. ~t the optiun ~~f ~aid rrxx~gagee. without rx~u~r ~x Jcmarxi. w~l al InM~ ur ~n rywty. may be
PfIKCI'U(Cl~ if all muncye ~ctured herehy~. haiLmalurctil pr~ur tu ih imutution. I~ht murtgugr~ may f~c~lox thi~ murlgage. ati tu the
anN~unt u~ decl3red Jue anJ p~y~hle. and thr tiaid prrmnc~ lhall t~r wW to tiatisly and p~y thr ~ame ti~cether vvith c~nh. eipenses. and
- allu..ance.. lo ca~r ~~f part~al furc~l~hure uf thiti murtgagr. thr mixtgsgrd pr~m~tr+,hall he wW ~ubjrct u. thr cum~nwng I~en uf this •
rrx~rtgage fur thr amuunl uf thr deht nut thrn Juc and unpaiJ. In .uch re~e thr pru~i,~c~n+ i~f Ih~ti paragraph ma~ ngain he availyd of
thrrra(ler from hmr [u Umr hy Ihe morlgagec.
10. Ihat the m~~ngegur N ill g~~e ~mmrdiatr nut~:r by ma~l tu thc rrkxtgagre ~I any ~~~nvey:~rxe, t~an.frr. or changr ut ownrntup uf
the preimre~.
- I I. fhat n~~ N~rv~r uf any iuvrnant herein ur uf ~he uhligaiii~n ~c~urrd hereby ~hall al ~n} time thereaGcr be held tu tx a wancr of
the term~ hereuf ur uf thr oule ~ecurrd hereby.
12. I hat if the nwrtgagur defaull ~n any uf 1hr cuvcnanh ur agreement+ cunt.uned herrm, or in saiJ nute, then the murtgagee may
~ perfurm tht same. arxf all r~penJ~tures 1 incluJing rra.unahlr ~uurney'~ lres? m:~dc by thc miKtgagee in x~ Juing ahell Jraw ~ntercst at the
ratt set fixlh in thc rwte secur~J hcreby, rnd ~hall br rep:iyable immeclialely anJ without demand by the mvrtgagor to the murtgagtt, and.
- wgether with interes~ anJ art~ accru~ng thereon. tihall be sec~ea,by-tYi~ mqrlgage.
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