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_~I hut. ~n urdet nK~rr tuU1 tu prutctit thr +eiuniy id lM~ murlgagr Ihr m~a t~~grthr~ w~tl~. .~n.l in :nl~l~h~,n lu. th~ nrmthl~
pn~•mrnt. un~l~r thr icroi, .~f ~hr n..ic .rcurctif hrirh~. un thc hr.t J;,~ ut ra.:h m.~mh umQ tAe uud nuir tull~ p:u~l. will pa~ tu ~hr
nwul~;aKrr the Iu1luw~nE +um,.
lal An a~ix~unt suffic~em tu pruviJe thr hnider hertuf wuh fun~l. tc~ puy the next r~xxtgagt i~wrance prcmium ~l th~~ in.trumrnt anJ
the notr ~cured hercby arr ~nsurrd. ~x a munthly charge i~n I~eu of a mortgapte imuraner premwml d the~ arn c~ld by thr
Secrrtary i~f Hou~ing and Urhan [kvrlupment, a~ folk~ws: ' •
1U Iti ~nd u~ iong a+ w~d niue c~f' even date arx! tM~ enstrument are ~nxured ur are rcinwrrd un~fer tAe w,vua~m ul the
!~auonal Hnuaing Act, an amount wfGaent ~u aa;umulate ~n the hand..~t the halJer c.or 11 ~ muntA ~~or to ~ta due Jatr thr
artnuvl murlgugr ~n~uratxe prrmwm. in urd~~ u~ prov~de ~Uih huWrr with fu~d~ tc~ pay w~A prem~um tu the Se.,rrtary uf
Housing und llrban [kvelc~?mem pur.uant tu tr~r Natu~~~l Huu.+ng .~ct, a~ amrnJrS. artd appli.:able Rngulruun.
thrrcundcr; or
~ I U If and u~ lung a~ .a~d naie i~f even drte and thi. imtrumrnt are held by the Secrctary of Nou.ing und l'rhan [)evclopment.
a manthly charge (m i~~u ut a murtgagr inwranrr prrm~um? wh~rh .A:,11 hr ,n .~n anwunl ryu:,l tu unr-twr~fth I I11I? ot
ime-half ) prr cenwm <~f thr averugr uuut;~rnl~ng twlance Jur un the nuie cumputed w~thuut tal.ing ~ntu axuunt
del~nyuen~~r~ ur prrpayments;
(h~ a.um eyual ~o the gruuncl rent~, if am, nr~t dur. plu~ the prem~umc that w•ill nex~ lxcumr due and payable on ~+olic~e+ of fire
~rid othrr hatard ~~surarn.~e covenng thr murtgnged proFxrty, plus taxcy and astiestm~nt. ne~~ due un the m~~ngagrd pro{xrty Ia?1
a+ esumated by thr rtxxtgageel les, all surtu alrredp pa~d theref~x divided by the numt~er of months to elxpse t~eforc une month
pnur tu the date whrn ,uch gruunJ rent~, prrmu;ms, taxr~, an~ sucs~mrnc~ Ni!! t+ecorsx drlinqut~c .~?:.h wm. to t~r hrld M
rtxtt~dager in tru.t to ~+ay sa~d gruund rrnt,. premiums, taxes, and ,~xcial a.~.~cmenh; and
~c? All payments ment~ormd in the tMn precedmg sutKecuons of th~+ paragraph and aU payment+ to be mbcie under the nae xcured
hereM +halt be adJrci togethr~ :~nJ the aggregatr amoun~ ~hereui~ ~hn!! be paid b~~ the mctttgng~r r:kh m~~nth in a,~ngle pa~ mcnt
ti~ tx ~pplieJ bq the murtgagre to thr folloN ~~g itenn ~n the order ~et forth:
!1~ prem~um chargc. unJei thr cuntract ut msurance whh the Secretan of Huus~ng and l~rh:~n [kvelopmrnt. ur rrx~nthl~
chargc fin t~eu vi morigage ~nsurance premiuml, au thc case may be;
~i11 ground rcnu, tase~. ~.e+anK:nt~. fire, and other hazard inwranc:e prnmium~:
(1111 inlerest on the niue .ecurrd hereby; and
(R'1 artwrti7ation of the principal nf said note.
~iny Jrti~;rcrn) m thr anwum of su~h a~rcbutr munthl~ paymrnt ,hall. unlc~, made g~~.d h~ thr m.~rlgag.~r priur tu thr Jur.latr of
thr nr~t ui~h payment. con+ututr an rvem ut default unJe~ thi, murtg:~,e, l hr murtgagre m~~ :ulle:t a~latr :harge° nut tu r~~r~d tK.f
cents ~2c1 for each dullar f;l ~ uf r:+ch payment mure than fif~ren 115) d:tys in arrrar+ ti~ cu~rr thr e~tra r~{kme m~~ul~r.f ~n hsndling
Jrlinyurnt paymenn.
3. That ~f thr totai ~~f thr p:tymenh n?uJr by thr mangagur unJer Ib1 c~f paragraph : prrceJ~ng .h~tl ruerd the am~~unt u! the
payment~ a~waUy matle h} the miutgagrr, f~n 6ruund rent~, t~ar. and a+.cw.timent+ and in~ur•rrxr prem~um,, a, the caar may be, auct~
excess at the opuon of the mortgugee, shall, be cred~ted on wbsequent payments to be madz by the morigagor, or refundod to tAe
murtgagor. If, huwrvrr, lhc nx?nthl~ payment. madr h~ thr murtgagui unJer I~u1 uf pata~raph 2 prr:eJ~ng ,halt nut t+e ~ufficirnt tu pay
gruunJ rent~. [a~r~ anai a»r~.~mrnt. and m~urancr prcmium.. a. !he casr may he. when the wmr ,hall t+e.:umr dur arxl payablr. then thr
mortgagor ahall pa) to thr m~~rtgager any amuunt ncvra,ur~ tu mal.r up thr drfx~enry. on i~r hefure the Ja~r whrn pa}mem of ~uch
grou~xi renu. taar+_ as.~e~mrnt+. ur ia,urance prrmium~ shall t~ Jue. If at an~ time the mortgagor shall trrxter tu thr murtgagrr ~n
accurdancr wuh thr prua~s~~ro of thr nae ~rcured hrreb~, full p:l~men~ oi the ent~rr ~rxirbtrdnrs~ rrprr~rnted thereb~, thc ?rk~ngagee
~hall, m cumput~ng thr nmuunt uf such uxlrbt~Jne~. cre~iu tu thr acc.?unt uf the m~xtg:?giK atl payments maJe under the pra~•i~iuro uf 1u1
~~t paragraph ~ hereof v.-hich thr mungagie ha.~ not t+ecume ubfigatctii tu pa~ ti~ the Secretary of Hou~ing and Crban Develupment and an~
haian~r rcm:~mmg m thr fund+ accumulalrJ tinder thr pruv~,~um uf ~h~ ~~f ,aid par~~;r:u?h If there ~hall be a Jrfauh undrr am uf ihr -
pruv~aium of th~~ mixtgagr, rr,ultmg in a puhli: wlr uf thr prem~.c~ rove~rd hrret+~. or it thr mortgagec a.quire~ thr pn?pert) ulhrrw nr
:~fte~ de(:~ult, the me~rtgagrr +hall appl). at the t~mr uf thr .~~mmrncrmcnt u'. wch pr~kreJ~ng~ cx at thr t~mr ihe pr.rprrt~ i. utherN~tie
aryu~red. thr bal~nce lAen rema~ning in thr funJ+ ac:umulatcti) unJer ih~ uf par~graph prr~rJ~ng a+ a credn aga~mt thr am~~unt uf
pnncipal thcn remsin~ng unpa~d urxier ~~d nutr ~nd ~hull prupcrl} ad~ust an~ payment~ wh~ch +hall ha~•e be~n m~dr undrr 1~:1 uf .a~d
para~eraph.
-7 'That hr w~!! pa~ all taar~. :~+x»mrnh. Na~rr rat~~. :,nJ uthrr ~;u~rrnmrntal ur municipaf charge,. hnr.. ur ~mM~.~U~~m. fur which
pruv~~iun ha. nut hrrn madn c~rrint+rf~~re. and m Jriuul~ thrrc~~f tF~r murt~;agrr ma~ pay thc .amr. •rnd that he ~.~II pri~n~+tl~ drli~rr thr
uffic~al rexr~ph thc~e[ur w thr murtg:+ger. -
~ 5. Thui hr wil! permit, cummit. .~r wfier n~~ waste. imp~irmrnt. cx detrriuralion ut ~a~d pn~?rrl) ui an~ part thtrcuf: and ~n thr r~rnt
~ ~~f the failure aTthr m~?rtgagor to kee{+ the builJing~ un aaid premi.~:s and thrnr to he erectec3 on taid prem~srs. .x improvemrnt. thereun.
in giKid repair. the mortgagre may ms{.r wch rrpa~~ ~n itc Ji~:reticm it ma~ ~iecm necr~ur~ !or the proper prrxrvntiun there.~f. snd
~ thr full anx~un~ uf rarh :,nJ rven ~uch eymrnt ~hall hr immrdiateh due a~J
~ P~ pa>ahlr. and ~hall he ~ecured h~ thr lirn of th~~ mortgage_
} 6 ~hat hr w ill p~~ all ;ind .ingular thr cu~t~, char~;r~. and r~{kmr+. ~nduding rea~~~nable lpM~er~~ ~e~ sRd cvsta uf sbyttacts of title.
j incurrrJ ur paid at ~m timr M thr mun~agrr hr~:au~r uf thc failurr un thc part of ihr mortgagar ptomptlj and itHly"~o perfofm'the
~grremems anei ct.~~enanu of ~uid promw.xy notr and thi+ murtgagi-. and ~a~d c~htti. charg~s, snd e'f~?lpyea ii~ail l1D it1~R~~Olattlj' dut and
~ pa~ ahlr and shaU tx secured h~ thr lirn o~ thi~ murtgagr. t. : t r .
i hat he wil( I.eep the ~mprovem~nts noN e~~sting ur hrrrafttr erecttY! on thr rrx~rtgaeot! pruprr}y. msured ec max b~qQWred from
umr ume by the murtgal;e~ against Ie».~ by firr and uther hacard., casulatie+. anJ cont~~genc~r, ~n ~uch smuunt. and for .uch prri~.J~ a~
ma~ hr reyuirrd h} murtgagrr. and w~II pa~ prumptl~, whrn duc. ~n~ prrm~um. un wch ~nwrancr tur pa~ mrnt of wh~ch pruvi~~on ha. not
been made here~nbefore. All insurance shalt tx carr~ed m compan~es approved by mortgagee and the polic~es and renewals thereof ihall
hr held hy murtgager and ha~•r :?t~achrd therrtu krs. payablr clau,r. in favor uf and in f~?rm accrpt~hle tu Ihr murtgsgec In r.~nt uf lusl
; hr w il! give immediatr nutice hy mail to morlgager_ anJ mortgager may make pra~f of Icns ~f not made prumplh by m~~rtgagi~r. and rach
F imurarn:e company concrrnrd hrrcby authontrd and dircYird tu maAe paymrnt fur such tu~.~ J~recth to rnurtg:~re instead .~f to
r?x~rtga~ur c~nd murtg~~er juinth. ,inJ the mwranee pnnrrd~, ur an~ part thercY~f, ma~ hr appl~ed h~ rrK~rtgagee a*, rt• uptiun rither tu thr
reducuun ~if thr indebtrJnr.> herrM ~rcurrd u~ ti~ thr rrs~ur,+twn ur repai~ uf thr prupert~ damagrd in r~rm uf furecknurr uf th~~
rrk~ngagr ur uthrr tramfrr uf t~tle tu [hr muri~agrd pn~.rm ~n exunguishmrnt ~~f !hr ~nJrhtrdnch> >ecurrd hrreh~, all right, t~dr. ~n~
~nterr~t uf Ihe murtgagur m and lu am m~urance ~?hcie~ then i~ (urcr ~hal) pa» ti. thr purcha+rr ur gr~ntrr.
K (hat thr rtxirtEsgee ma~. a? an~ ume penJing a.wt upun the. murt~.ege. appl~ tu the cuurt having ~urnJ~cuun thrreuf fur the
; upEx~~ntment of a rece~ver. ,ind such courl .hall fexthwvth ap~u~int a receiver of the premises covered herebp all and singulsr. uKludinE all
_ ~nd ~~ngular the ~ncume. profits, ~ssua. and revcnuet frum whatever s4wrce derived, each and every of which. ~t heing eaprr,tih
_ under.tu~Kl'i. hereh} ~„~~~~;~RCa ~r,~-~~r;~su> >r! forth anJ Jcxnhecl m the ~ranting and hat+enJum ~iau.e~ hereof. and ~uch rrcrr~er
; ~hall ha~r aN thr bru:~d and rflre-t~?r iunetrur~~ rnJ pu+.er~ m amwue entru~ted h} a cuurt tu a rr~r~~rr. snd ~uch appointmrnt ~hal! br
3 madr h~ wch cuurt a. an aJmrttrd equrt~ .md ~ mattrr uf ahx~lutr nght to ~a~J nwrtgsgre. ~nd N~thuut rrfrrrrkr t~~ the adequac} ur
~ inaJeyuac~ ut the ~:tluc crf the pruprrn murtgaged ur tu the wlvency ur in~ulvency of ~a~d rtu~rtgagur ur thr Jefrndrnt+. a~d thai .~ch
? rents. pruht~, mcume. ~~.ucy. anJ rrvr~iur, +hal1 be applird b} ,uch receiver accurdinK to the lirn uf th~. rTx~rtgagr aoJ the pracUcr uf wch
= c.~ur.. In the rveni uf sn} dcfault un lhr part uf thr murtgagun c~rrundrr. thr murtgagur a~rer~ tu pa~ to thr mortgsger un demanJ a~ a
~ rea+unahle monthl~ rentai for the premi+e~ an amuunt at Iras1 e~ywvalent to one-cwelfth 11/i21 of the aggregatr of thc tw•elvr mortthl~
x mstaltments payablr ~n the ehen current year plus ~he actual amount of the annual taaes_ asse~cmcnt~, v.ater rate+. and in+urance prem~urm
~ fur wrh yea~ nut co~rrrtl by thr afurrsaid mu~thl~ payments. .
; 9. That Iu1 in thr rvent uf am hr~ach uf thi, murlg~gr ur default on the pan of thr rtx~rtgagur. c~r Ih? m thr r~rrtt that am of wid
: wm. uf monry hrrrm referrcYf t~~ t~r not prumptly and fully paid Nithout drmxnJ ur nuticr. ~tt ~e ~ m thr r~em that rach and r~rn thr
: ~Upulatiun.. agrern~rnt~. cundniom. and covenants of ~a~d note and this mixtgage. are hut Jul~. prumptiy. and tull} pertormrd: then in
ruhrr ur un> >uch event. thc ~a~d ay~regatr ~um mrnU~neS in ~aid nutr then r~mainiE unpaiJ. a~tt~ mtere~t ac:rurd i<~ that umr. and all
rrk~ac~. .rcured hereb}, ~hall hecome Jue ~nd p:~ti ahle forthw rth. ur therealtrr. .u th~ i~+t~un of ~aid murtgager, a~ fu and completrh a.
: ~f a!! ot the ti;iid sum~ of money N•ere ungin~tll~ ~hpulatrd to tx pa~d on ,uch Ja~, am•thinF ~n ~aiJ nvtr ur in thi. rrn,rtgage tu the cuntrar~
notw~thctonJing; anJ thereupun ur therratter, at the upNon uf sa~d mung~gee, w~thuut nat~cr vr drmand. .u~t ar law ur in ryuit~. ma} tx
pru~rcutrd a. if ~II monry> >ecurrJ hrrcb~ haJ matureJ prior tv itti ~mt~tuuun_ f hr mortg;~er m,n fixr:luar thu rt~~rtgagr. a~ tu the
artx~unt tio drefared Jue and papablr. and thr ~aid premi~e~ ,h~sll tx ~..Id to ~atnf~ and pay the tamr tugether w~th cir.t.. expenx~. and
? alk.u.an:r~ In l'JK u! parUal luiecluaure uf thn m~rtgagr, thr murtbageJ premi~r~ ,hall be x~ld wh~eYt ti~ the cunt~nwng lirn of th~~
nwrtgage f~rs thr amuunt uf lhe debt out then Jur and unpaiJ In ~uch catie thr pri.v~~~ur~ uf th~~ paragraph m:+~ ugain be availyd of
thrrcafte~ frum hmr to t~me h~ thr murtgagrr
- 10 I hat the nx~rtgagur N~11 g~vr ~mmrd~atr n~~ucr hy mait to thr murtgager uf any con~r~arx-r. lran~fe~. ur rhan~e of ~~wnrnhip of
; thr prrmix,
' 1! fhat no Naivrr cd ,~m ~ovrnant hrrrin ur uf the ubl~gat~un ~c~ured hereh~ tihall at an~ t~me thrreafter be he1J iu be a wa~~er vt
" thr term> hrre~~f ur uf thr nulr ucured hrreh~
_ 12. 1 hat if the mortgagor Jef~ult m am vt thr ci~~rnant~ ur ~grcemrnt~ ~untaincd herrin. or ~n saiJ nute. then thr murtgager ma~
perfurm lhr aanlr. anJ a~l e~pcnJiturc~ ! ~ncluding rc~»unahlr at~urne}'~~ fcr.f made h~ thr m~~rt~agrr in w du~ng ~hall Jraw iMCrest al [he
_ rate ~et furth in thr nute `rcured hereh~. anJ ~hall hr repayablc ~mmrcl~atrl~ and w~thout demand b~ thr rtwrtgagor tu thr rrkxtgagcr, and.
~ tugethCr wrth ~nterrst and cutit. aceru~ng thereon. ,hall be ~ecured b~ th~. murigage.
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