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Ihal. ~n u~drr nwre tull~ lu prulrcl thr ~r~unly ~~1 th~~ mutl~;.~gc. Ihr nw~tg.ig.~i. t~ry~clA~r N~th. and ~n .a1.l~uun 1~~. Ihr nh~ntM~
paymrnl~ undar ~hr Irrm. .~f thr nutr ,rcurcJ hr~~hy. ~~n lhr tint ~la~ ut r~~h mumh unU) Ihr ,a~d n.ar Iull~ p:u~. N~II p.~> tu thr
m~~rtg:~grr ~hr Fulluw~ng +um,:
~a? An anwunt wffic~eni tu pruviJe thr hulJrr htrcul wuh (unJ+ ~u pay ~hr nrzt mur~gagr inwran~C prrm~um if U~~~ ~mtrument :,nd
~hr nutr +tcurtd herehy arr ~murcJ, ur a n~umhly char~e 1in hcu ~~t a m~x~gage ~mur:uice p~rnuuml ~I ~iiry arc hrld by thr
Sctirelary uf Huwiog and Urhan l~velopmem. iAY ~UIIIIN\:
111 If and w lung a~ wiJ tx~tr of tvrn Jate and thic imtrument arr imured ur arr reimurrJ urxlrr thr pruv~~~un~ uf ~hr
Natiunal Nou.ir.g Act, a~ amount wtlicirn~ to accumula~r ~n thr hanJ~ uf ~he hulder unr 11) munth ~x~ur ~u ~u dur Jatr thz
~nnual nxtttg~gr m~urance premium, in urdrr tu pruvidr .u~h hulder w~th funJ.i tu pay ~uch prem~um tu thr tircrrtary uf
Nou~ing and Urt+an (k~~Ni~mcnl pur~uant tu thr Nauunal tluu+ing Act, a, amrnJrd, anJ applKablr Rrgulauun~
thrreunder, or
1111 If and w long a. w~d note uf rven date anJ thit imtrument are heW by the Secrr~ary uf Nou+ing arxi Urhan ikvrlupment, ~
a monthly eh~rge Iin I~eu uY a muitgage in+urance p~rmiuml Nhich +haq hr ~n an anwun~ ryual tu ~~nr-tN~lfth 11l121 ut
une-half 1',~1 per crnwm o( thr avtrage uui~tanJing Aal:tncr Jur u~ thr nutt cumputr~i wuh.~ut wl.ing ~ntu a~tiuunt
drlinyuc~uie. ur Euepa~mrnu;
Ihl A~um tyual to thr graursd :ents, if any, ntvt dur, plu~ the }xenxums tAa1 will nett t+rcomr due anJ payablr on ~xilicie+of fire
:?nd uther hazard ~n~ura~ne covenn6 1he mur~gagc~i pruper~y. plus taxe+ and as~eumrnl+ nrat due un ~hr m~xtgagrd pro~+rrty lall
as esUmaled by the rtwrtgager) Ir~s al~ sum~ already paid lhtrc[~x d?viJeJ by Ihe numbtr uf munlh~ to elapx befure une munth
pnur ihe date Nhrn w~h gruu~xl rrnts, premiums, t:txe~, anJ aur.+mrnt+ will bec.~me Jelinyucnt. ~uch .um~ ~u t+r held by
mor6nget ~n trust to pay +aiJ gruund rents, ~xemiums, ta~ees, and special a+~c~cments; anJ
1c1 All payments mentiuned in the tw~o praceding subsections of 1h~s paragraph antl all payments tu tx made u~x1e`}he nute stcured .
herrby shall t?t sdded tugether and thr aggregate amuunt thereuf ~hall be pa~d by Ihe murtgagur ~;uh munth in L,inglr {+aymrnt
w br applied by thr murtgagre ~u thr fulloN ~ng ~trm~ ~n the urder ~et forth:
111 prem~um chargr. unJr~ thr cunlract uf insurance v?~ith the Secrctary uf Huu;ing and t'rh~n I~vrla{~ nt, ur munthly
chargr lin I~eu uf mortgage msurance premium), as Ihe cax may t+e;
11U ground rents, taxe~, ass~ssments, fire, and uther hazard ~naurance pr~mium~: '
11111 int~re~t on the nWr xcuretil hereby; anJ
lIV 1 artwrtitaUOn af thr principal of ~aid no1e.
Any drli~~rrk) ~n thr anwunt uf ,uch :1'~'ftb':111' nwnlhly pa) m~nt .hall, unl~~,~ made gu~nl hy thc murtgagur pn.+r tu thr dur Jatr u(
~hr neu +uch paymenL ~un+tiW~r an rv~nt uf dtfault undrr thi, murtgagr. I he m.utguger ma~ cull~~~ a~ late chargr'~ nut w~icr~J tNu
cenu ~2c1 fur rach J~Ilar 1SIt ol ra.h pa~mrnt mare than fiftrrn IISI ~a). in arrr3~. tu cuvrr the r~tra ~a~xmr imul~~vi in handling
dtlinyurnt p~ymrnt~.
i. Ihat if the wtal uf lhr payment+ maJr by Ih~ murtg.tgur undrr th? uf par~graph - prati:~J~~g .hall ~~~r~d thr anxwm uf tht
paymrnl. a~lua~ly made b~ Ihc m~xtgagrr. lur KruunJ rrnts, t:?xe+ an~ a.,c~.menl+ ~nJ in.uran:e prem~um,. a, thr ~a~r may be. +u~t.
excess at the opt~on of tht mortgagce, shall, be creJ~t~J on wbsequent payments to be made by the mortgagor, or refunded to the
rtwrtgagor. If, huwevnr, thr r~x~nlhly payment~ m:u1r by th~ mur~gagor under ~b1 of psragraph 2 pra~rding +hall nut t+r ~ufhcirnt tu pay
gr<~unJ rent+. ta~r. :~r?d s.x.,~nrnt~ and imurancr prrm~um+_ a. ~hr ~a~r may tx, when Ihe wmr .hall hecume dur anJ payable, lhen ih~
rtx~rtg~gur ~hall pay tu thr mur~gagrc any amuunt n~~r.»ry tu m:~Ar up ~hr drfi~irnc), un ~u t+rforr Ihr datr whrn paynxnt uf ,uch
gruunJ rents, la~e~. a»r»mrnls, ur ~nwran~e prem~um+ +hall br Jur. If at any ume ~hr murtgagur ~h~ll trnJer w the murtgag« in
:+~curJancr w~1h the pruvi,~um uf the nutr ucured hrreby, full p~yrttrnt .a lht enure ~n.iebtrJn~y, reprrxnted therehy, thr rrn~r~gagee
~hall, m cumpuung thr amuunt uf w. h indrbt~tilnr~~. ~r~Ylit to thr atcuun~ uf th~ murtgag~x all paymtnt+ mad~ undrr thr pru~•~.wn, uf lal
uf paragraph hrrcuf which thr murtgagrr ha, n.~t txcumr ubligrtrJ to pa~ tu th~ Srcr~tary of Huus~ng arxi l;rhan Devrl~pment arxl sn~
halancc rrmaining m the funJ~ :+ccumula~~J unJrr !hr pr~n~.ium uf Ih~ ut .:~~J paragraph If thrrr ~h~ll hc a Jrfault undrr any uf thr
4 pruvi.~um uf thn martgagt, rr,ullin6 in ~ puhli~ ,ale uf ~hr prrm~~r~ cu~rrrJ h~rrhy. ur ~f Ihr mixtgagrr a~yuire, thr pruprrly ~,thrrw i~a
aftrr Jefault. Ihr murl~;agrr .hall apply. :u the Umr uf th~ cummrncrmr~n ~if ,u~h pmi~rding~ ur at thr I~mr ~h~ pru{+rrt~ i~ u~hrrw i+r
F .nywrrJ. thr halanc~ thrn rrnz:un~ng in th~ iunJ+ ac~umululrJ undrr :h~ of par.igraph prc:rJmg a. a crrJu ag:umt Ihr amuum ut
pnnc~pal thrn rema~n~ng ijnpaid unJrr tiaid nutr anJ ~h.ill pruprrh ad~u~t an~ p:+)mrnh Kh~ch .h~ll ha~r hrr~ madr unJrr lul uf .a~d
~ p:?fagr:+ph.
J. I hat hr will pa} :JI ta~c~. a,~e,~mrnh. Natrr ~at~~. and uthrr g~~~rrnmrnt:~l ur munrcipal chargr~. finc.. ~mEx+,u~un,. fur Hhich
b pru~~.~un ha~ m~t tkrn m~Jr hrre~nhrfurc, and ~n drfault thrrcul thr murtg~gc~ ma~ pa~ thr ~amr: and that hr ~ill prumptl> drlhrr thr
~ ~ uffi~ial recciptc therefur t~~ Ihr murtgagrr.
~ S. 1 hal h~ w~li permi~. cumnut. ur ~utTrr nu Na~tr. ~mpa~nnrnl, ur ~rtrriur~tiun uf ,aiJ prupxrt} ~x any p:ut thrrr.,f: anJ in ~hr rvrnt
~ ~,f thc tailure u( thr murtgag,~r tu Arrp th~ buil:ling, un ~:ud prrmnc+ anJ Ihu~r tu he rr~~itrJ un ,:uJ prrmn~,. ~~r ~mpruc~mrnt. Ihrrcun.
~ ~n g.hKi rrpair. thr nwrtgag~r m~~ maAr ~uch rrpain ati ~n it, di,crctiun it may .Irrm nrcr..ary fur thr prup~r pre.rrvat~~m ~hrrruf. :~nJ
~ the full arrx~unl uf each anJ r~rry wch paymrnt ~hall hr immcYiiatrly Jue and p~yahlr, anJ .hall t+r .r. ur~rl hy th~ I~rn ~~f th~~ nx~rtg:.gr.
~ h. fhat hr will pay all anJ ~~ngular the cu,t,. chargc~. anJ expemrs, ir~luJ~ng rrswnable laNyer'. fe~~. anJ .:ust~ of ahstracts al tnlr.
~ incurriYl ~x paiJ at any umr by the murtgagrc I+ctisu~r uf th~ f~~lurr ur. thr part uf the nwrtgagur pr.rmpsly and full~ tu perfurm thr
~ agrerm~nt, anJ ~uvrnant~ uf .ai~ prumi~5ur~ notr snd thi~ murtgagr. anJ .aiJ c~nt+. charge.. arxl etiprnu. ,hall hr immrdiat~ly dur anJ
F pa}shlr snd .hail t+r ~ecur~d h} thr li~n t~f ~h~~ mur~gagr.
~ 1 hat hr Nill Aeep thr ~mpruvrmrnh ~uw r~i~~~ng ~~r hrrcaltrr rrecte~! ~ro the nwrtg:~geJ pruprrl~. imurrJ a, may hr rryuircYl Irum
4 t~mr t~~ i~mc by !he ~nurigagrr aga~n~t lu» by firc anJ ~~Ihrr ~1:1/3flJ~. id1Ul:~ur.. :~nJ r.~nt~ngrniir, in .uch :un.,unt~ :+nd fur ~uch prnud~ a+
rnay t~r ~rywred by mortg:,grr. anJ uill pay prumptly. uhrn Jur. any prrmium~ un w~h ~mur.~ncc fur pa~mrm ~~f whkh pruci~wn ha. nut
been made herembefort. All insurance shall be carrial in compan~es approved by mortgagee anJ the pul~cie~ and renewals thereof shall
hr heW by murtgager anJ havr ~U~chrd theretu 1~»ti payable clautirs ~n favur of and ~n furm a:crptahle t.~ the nwrtgagr~. In rvrnt ~~f luu
' he M ill g~~r in~mrJiate nuUCr b} ma~l to murtgagee. anJ murtgagre may ma{.r pr~wf uf lu» ~f nut maJr pmmp~l~ M murtgagor. anJ rath
~ imuranic cun?pany cuncerneJ n hcrrhy authu~iteJ and JircztrJ ~u maAr paymrnt fur ~u~h lu~. J~rr:th tu nx~rtgagre ~mtr:+J uf 1~~
nwngagur anJ murlgagee ~u~ntly. and Ihr ~ncurance pnK:erd+, or any part therruf. may 1+c applirJ h~ ~n.ntgagrr at ~t. upuun rithrr tu thr
rrducuun uf the ~ndebtrJne.+ herehy ~ecurrd ur to the rr~turat~un ~x rep~ir uf the pruprrty damagrd In r~~e~t uf furc~l.nurr uf 1h~s
nwr~gagr ur uthrr Iran.fer uf udr tu thr murtgagrJ pr.~rrty ~n riungu~~hinrnt uf the inJrhtcJnr,. .riurrd hrreh~, ali nght, t~tlr. :+nJ
~ntrre~t uf the murtgagur ~n enJ any ~n.ur~nie puhcir~ then ~n furir ~hall pa., tu thr purcha.rr ur gramrr.
X. fha~ the nwrlgagrr ma~. ~t ~ny Umr prnJ~ng a.u~l uEx~n 1hi~ murtg:~gr. apply t~~ th~ ruurt ha~ing ~ur~xl~cU„n ~hrrcuf (ur ~he
;t ,,p~x~in~mrnt uf a rrCerver. and wch cuurt ~haU furthw~th apEx~~nl a recrivrr uf thr prrm~~r~ cu~rrrd hrrrby all arxl +ingular. uxluding all
.~nJ .ingular ~hr ~ncume. prufit+, u~ur~, ~nJ rr~rnuc~ frum Mhatrtier wurce drn~eJ. each :?nJ r~ery uf wh~ih, it br~ng etprr»ly
z~ unJrntu~xl. hrrehy murtgageJ a~ if .{?e~ifi~ally ~rt forth and deccnbrd in the granUng and h.~hrnJum clau~r~ hereuf. anJ ,u~h r~tir~vrr
,hall h~~r all thr hr.~ad .~nJ r17r~uvr funiu~~m and puNrr~ in anyw~.r rnuu,trJ hy cuurt tu a rrirn•rr. anJ .i~ch app~~mt~nrnt .hall br
maJr hy ,uch cuurt a, :m adnutlyd ryint~ ~nJ a mattrr ul at~dulr nght tu ~aid mungagrr. anJ H i1h~~W rcfrrrrkr tu thr aJryuacy ur
~na~lryuaiy uf Ihr r.~lur ~~f thr pruprrly murtgagrd .x tu the wlvency or ~mulvrncy uf ..uJ murtgagur ~~r the Jrfrndrnt.. and that ~urh
rcnt~. prufit~. ~nwmr. i»ur+, ~nJ rrvrnur+ ~hall t+r appGrJ hy ~uch rrcr~vrr accurJ~ng tu ~hc hrn ~,f thi+ nwrtgag~ :~nJ 1hr prarU.r uf wih
~uurt. !n Ihe rvrnl ~~1 any dc(ault un ~hr parl uf thr nwrtgag~~i hcreunJrr, thr murtgagur :~g~rr, tu pa~ t~~ ~hr murtgagrr un JrmanJ a~ a
res+unxhle munthly « ntal fur the prem~u, ~n amuunt at le~.t ryuivalenl t~~ unr-tNrlfth 11/121 uf the aggrcg:llC Uf 1~1C MCII't nx~nthly
:x~ imtallmrnh payablr in the then current year pluc Ihe actu~t amount of Ihe annual tairs. a+~r+~mcnt+. water ra1e~. and intiutancr prrm~um~
fur w~h yrar nu! cuvercJ h~ thc :tfurrw~d ~nunthly pay~nrnt~.
- 9. Tha1 1u1 in thr rvrni ~d.~ny brrach uf Ih~~ mnngagr ur drfauh un thr part nt Ihc rrH~rtgag~~r. nr Ih1 in thr r~rn1 thal an~ ~~f ~aiJ
- ~urm uf money here~n rrterred t~~ tx nu1 prumptly and fully paiJ with~~ut Jrm:~nJ ~~r nul~cr. ur 1~ 1 iu thr r~rn~ th:~~ rach snd rvrn thr
_ .upulet~~~n,. .,grrrnunh. cun~iU~~m. anJ cuvrnant+ ul ~aid niNc anJ ~h~i nuK~Ragr. .ur nut Jiel}. pi~~mp~ly. an~l fuUy prrf~~rmrd: thrn in
' rithrr ur any wch event. thr,aid aggregatr ~um rnrnU.~n~J ~n+a~d nutr thrn rem:unig unp.uJ. wuh ~ntrir.~ a~:rurd tu that um~. anJ all
- munrt, .ecured hrreby. .hall txcume dur .~nd p.iy:~hlr G~rthwith. nr Ihrrra~i~r. at thr ~~hun uf ~a~J murlga~;rr. a~ full} :+nd c~~mplrtrl~ a~
if all ~if thr ,aiJ ~umti uf nwiney were unK~n:~ll~ ~iipul:~Ird t~~ hr paid un ,uch day. :uiy~h~n~; ~n .aiJ nulr ~~r in thi. nx~r~g:~gr tu Ihr cunuar~
n~~twuh,i.uiJ~ng: anJ thrreuMm ur ~here~fter. at the upuun uf saiJ rm~rtg.~grr. N~~huut m,t~cr ~~r drm:u~J. ,u~~ a~ IaN ur in ryuu~. ma> 1x
pru,rcutrJ ~f all nwney> >cti:ureJ hrreby haJ m:durcYl pnur w it. imu~uuun. 1 hr nwrtgagrr m:i~ turr~lu~e Ihis rrn~rlgag~. a~ 1u Ihr
~nH~unt w di~l:~rrd dur :tnd p:~yaMr, and Ihr ~a~il prenti~e> >hali br wIJ lu ~aU+f? and pay thr wmr tugrthrr aith c~»h. a'~prnu~. end
~Iluwancr, In i~x uf part~~l fureclu~ure ul thi, ~nurtgagr. Ihr murt~.iged prem~~r~ ,hall be w~IJ .uhjrc~ tu Ihe i~~nunu~og I~rn ~hi~
nwr~gage tur ~hr amuunl uf thr Jeht nu~ Ihrn ~lur :~nJ unpaid. In ~uih ~a~a Ihe pti~~~.wm uf ~h~, p:u.~gr.~ph ma~ eg:un tx a~:ulr~l ut
- Ihrrrattcr Irum tirnr tu hmr hy Ihr mur~g.~grr
- I11. I h:~t thr murtgagur w~ll givr ~mmrJiatr nuhcr by m~il tu thr murtgagrr uf :~m iumry.~n:r. Ir.~mtri. ur ~hangr ut uv~nenhip uf
:hr prrmiu,.
- 11 ( hat nu waivrr ut any cnvenam herrui ~~r uf thr uhl~g:du~n ~~tiurrJ hrrrhy ~hall :d an~ umr thrrrattrr h~ hrW t~~ ~1l' NAIYCf UI
~ Ihe Irrm~ h~rr~~f ~~r uf thr nutr ~e.urrd herchy.
12 I ha~ ~f ~hr m.~rt~ra~c~~r drLtult in :~r?y of the covenants ot agreements cuntainrJ here~n. or ~n ~aiJ nutr. ~hrn thr murtgager may
perfurm lhr wnK, arxl all rlprnJ~turr~ i ~ncluJing frawnable aUurney'~ fees? made by thr m~x~gngrr in w Juing ~hall Jraw intrre.t at thc
ratr ~rl f~xth in Ihe r?utr ,r.tureJ herrhy. :~nJ shall be repayable imm~xiiately and without demanJ h~ the nwrtgagur tu thr rtx~rtgagec, and.
r3~ tngether w~th interrst ~nd i~rt, accrwng lhrreon, shall Fx ucured by this murtgage.
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