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2. I hat, ~n urdtr nwrt IuUy 1o pr~ttct the +t~uriry of this rtwrt~s~e, thr marlQagur, t.~gtthrr wrth, anJ in a.t~t~t~un ~u, the nx~nthly
pa~mrna un~rr tht trrms uf tht nutr +ccu~rd htriby, un thr first Jay uf r;?ch munth until Iht ~aid ~utr lull~ paiJ, ~~II pa~ tu the
murtg:yTt~ thr fullu~ing aum~:
la1 An artwunt sufficirnt tu proviJe ~Ar hoWer hereuf witA fun~is to pay ~he ncxt man~e~e insuranct premium if this i~strumint and
tht note xcurcd hereby are ~nwred, u~r a monthly char~e !in litu of a ~wrt~a~e insurance premium) if they are held by the
Secre~ary of Housm~ and L~rban Developmt~t; as folbws: .
IU If and so lon~ as said note d even ~iate ancl this instrumenl ut insured or are reinwrai unJtr the Drovisions of thc
Natiuna! Housin~ Act, an amount su~ciertt to accumulate in the hands of the holder one (1) munth prio~ to its due date the
annual morttage ~nsurance premium, in utJt~ tu provide such holder with funds to pay such premium tu the Secrctary uf
Housin~ and Urban DevelopmeM pursuant to the Nauw~al Hous~n~ 1c1, as amencied, a~xi appiicabh ReQulat~ons
thercunder or ~
IIU If and so long as ~a~d ~ote uf eve~ datt and this ~nstrument ue held bp the SeCretuy of Hou~in~ and Urban Development, ~
a momhly charge ~in lieu of a murtgage insurance premium) which sf?alt be in ao am~wnt equal to onatw•elfth 1 U12) uf
one-half ('~i i per ctntum uf tAe avernge outsta~iing balance due on tbe note computnl withou~ takin~ into aaount
Jelinquencia cx prcpayments;
Ibl A sum equal to the grourni rents, if any, nezt due, plus thc prem~ums that will nexl become due and payable on policies of fire
anl,~the~ hataul iusucanecuYering tbe mp[t~agel praperty. plus taxa and asseasmtnts ntxt due un ~he mortga~td property Iall
as esumated by the mo~tgageel less all sums already paid thercfor divided by the numbtr of montAs to elapse beforc one month
prior to the date Nhen such ground rents, prem~ums, taxes, and assessments will become detinquent, such sums to be tield by
mo~tgaget en trust to pay said gruund rents, premiums, taxes, and special assessments; and
~c> All payments mentiuned in the tw~o preceding subsectiuns of this puagraph aad all paymeats to be maJe uixter the n.~te secured
hrreby shall be added toge~her anJ the aggragate amount thereof shaN be paid by the mortgagor each month in a single payment ~
to t+t applied by tha mortgagre to tht fullow ing itrms in the order set fonh:
a
ll) premium chargc. unJer the runtract of insurarn:e with ttie Secrelary of Housing a~d Urban tkvelopment. or monthly
charge lin lieu uf m~xtgage insurnnce premium), a~ the case may be;
1111 ground rents, ta~e~, assrssments, fire. anJ uther hazazd inwrance premiums;
11111 inlrrest on the nole secured hereby: and
IIV) amortization of tht principal of said note.
:\ny J~ti~iency in the amuunt ~~f ~uch aggrrgate m.mthly p;~ymrn~ ,hall. unla~s made g~xxf by the m~xtgagcx pri.u to the Jue date of
thr nrat .u~h paymrnt. cumtitute an evem uf Jefault under thi~ mongagr. ~(he mortgagte may collect s"latr cAarge" not to exerrd two
crni~ ~'_c! fur ea~h ik~llar IS11 of tach payment more than fiReen I IS) Jays in arrcars to cuver the extra expensr involveci irt harniling
.lrlinyurnt pay ments.
s. That if the total of the pa~~ments maJe by the mongagor under ~bl of paragraph 2 prectding shall excerd tht artwunt of the
paymena actuaU~ madt by thr mixtgagee, for ground rrnt~, taxes and a~estments and imu~anc~ prrmium+, ac tt~e case may be, sucG
excess at the option of the mort~a~ee, shall, be credited on wDaequent paymcnts to be made by tAe mortgagor, or refundod to the
nwrtgagor. If, howaver, the rtwnthl~ payments maeie by the mongagor undrr !bl of paragraph 2 preceJing shall not be sufficitnt to pay
grourai rcnts, taxc~ arxi assessments and insurance premiums, ac tht casr ma~• t+e. Nhen the ~me sh~lj,l,ernme due ared payahle. then the
rtx~rtgagor .hall pay~ to the martgagce any a?nount ~ecec.ary to make up ~he deficirrxy, on cx l+efore the datr when payment of such
gr.,uixi r~nn, ts~rs, assetsment~. or imusa~x:e premium+ shall be due. If at any time the m~xtgagix shall trr?drr to the m~xtgagrt in
sccurdancr with the provisions of the note SccurtJ hereby, full payment of the entire indebtrdne~s repraented therehp, ihe rtwrtgagee
,hall. in computing the amuunt of auch indtbtrdness, creJit to the nrcount of thr m~xtgagar all payments maJe under the provi.ions of Inl
of par.tgraph 2 hrreof NhiCh the mortg;?gee ha, not becume ~t+ligated to pay w thr Secretary of Hou~ing anJ Urban Devebpment and any
hatancz remaining i~ the fund. accumulatecf under the pruvisions ~~f (6? of .aid paragraph 2. If therc chall he a def:~ult under any of the
pruc~.iunc uf thi. murtgagr, re+ulting in a puhlic ~alr uf tht prrmise, covere+i hrreby. ur if the mixtgagte acyuirrc th~ pn~?erty othe~W ise
.~fier Jefault. the mortgagee shall appl~. at the [ime of the commer?cement uf ,uch pro~:reJin~ ~x at thr time-the prupert~ i+ uthera~x
:~ywred. the balarke Ihrn remainin~t in tht funds accumulatrd unJer ~b~ uf paragraph 2 precating a~ a credit ':~gainst the amuunt of
prmcipai thrn r~m:~ining unpa~J undtr ,aiJ nutr and shaU proprrly adjust an~ pa~mtnt~ Nhich +hall have bren made under fu) of said
p~r~gr:iph.
1. l hat hr N~II ~1:?~ :f{I (:1\~. :1~1C11flltflh. N;~ter ratc~, and uther governmental ur municip:+l charge~, finr~. or impa~sitions, for WAich
pro~ i.~un h~, n.n txen maJr hereint+tfurc, anJ ~n Jrfaul~ thrreof the m~tgagee may pay the +ame: and that he Ni11 promptly deliver the
ufhc~al rcl~~pt. Ihrrefu~ [u !ht morlgag~r. ~ - : • , ' .
I hat hr w ill ~rmit. tummit, ur .utTer nu a+tr. impairment. ur dtttriuratiurt o~sajd Qfop~c}~~ ~x, ~ part~horeof: and in the e~~ent
j .d the t:ttlure uf thr murtgagur tu lrep 1hr huilJing. un ~aiJ premisrs and tho~r to tx eretted o~ S ft~p
f l5~ p[ iAl$Cpv€I$tqls~llertun.
j in gixaf r~p;ur, th~ nwrlgagrr ma~ ma~.r ~u.h rcpain a~ in in Jncrrtion it may deem netfsslrf ~Or ih A~ier pre3erir~u~ t~lweAf, and
! thr full amuunt ~~f ~arh anJ r~ ~ry .uch pa~ ment ,h:Jl br emm~~liately due and payable, and sh1U be secured by t~r }~e» 6f Ih3 riiortgage.
` fhat hc i!! pay all and ,~ngular ~6r ...,t.. ~hargr,. ~nJ e~ptn,e;, including reawnahle law~er's fees. and costs of abstracts of title. ~
~ incurriyi .~r p:,~d at an} iimr h~ the nwr~gag~r hr~au,e uf ~he failure un the part ~.f the mortgagor promp~ly and fully to perform tht '
.~grr~mrnn anJ cuvrnant. ~~f .a~J prumi..or~ nutr ~nd this murtgagr. anJ ,~iJ cv,h. charges. and expenses shall be immedinlely due and
pa~ahlc and ~hall ha ~C~urrJ b~ ~hc h~n uf 1hi~ morlgxge.
I fl:ll F1l' N1II {.c'CF1 l~ll' ~mpr~i~rmrnt. nuw existing or hereafter erectctil on the mortgagc~i property, insured sti may t?e requirc~l Gum
t~mr tu umr h~ thr nxrrtg~gre :~g:umt iu.~ h~ fire :~nd"uther hatarels. caculaties. and cuntingr~xies in ,uch srrx~unu ~nJ for unh peri~is as
; rna~ hr reyu~r~~l h~ mungagrr. anJ w i11 pay prompUy, w hrn due, any premiums on such insurance for paymnnt of whi~:h provi.ion has not
~ been madc hereinbefore. All insurance shall be carried in companies approved by eqprtgagee and the policies anil renewals the~eof shall ~
hr h~IJ hy murt~agee anJ havr ana~hc~i Ihrreto 1~»c pagabte clau~ec in fa~or of anJ irt f~xm acceptable Io the rtwrtg:+gee. In event of lost ~
; he wd! giv~ ~mmrdiate notice by ma~l t.~ mortgagee. arn1 mongagee may make proof uf loss if rx~t made prompUp by m~tgagor, arui rach
s ~murarke cum{wny cun~ernrd „ hrrcby :?uthunteJ anJ directrd tu male p:+}ment for wch los~ d~rr.:qy to nwrtgegee inu~aJ of so
? nx.rtgagur :~nJ m~xtgager juinlt~. and thc imuranre pn~erd~, ur :~n} part therc~d, map hr apphrd h~ rnurtgagte ~t its option either tu the ~
r~Ju.uun uf ~he mdrbttdne.. hrrrh~ .~zur~Yi ur ~u th~ r~~turatiun ur rrpa~r uf' the prupert~• damageJ. In evem uf fureclusure uf this
rtxirlgagr ur uthrr tr~a~fer uf Ihlc tu the murtgaged pn?pert} in rtungunhmrnt uf the indebtzJnrss x~ureJ hrrehy, 31i right, tidr, and
E ~ntrrr.l uf thr mortgagur in :,nJ ~u an} ~murance pul~ci~ti thrn ~n furce ,h:etl pa,~ ti~ the purchaxr or grantee.
~ R. That ~he nx~rtgagrr ma~. a~ :~n~ umr pending a.uit upun thi. murtgagr, apply to the court ha~ing jurisdiction thereuf [ur the
5 apEx~~ntment of a receiver. and ~uch ~uurt tihall f~x~hw ith sppoint a receiver of the prem~ses covered hereby all and singutar, including all
' and .ingutar thr income_ profit.. i~~ucy. and revenucs from ah:stever source derived, each and every of which, it being expressly
~ undrr~tuixl. i. hrrehy murtgagctil a. if .pecificalh ,r~ ti~rth and dexrihed in the granting and habtndum clauscw hereof. and ~uch receiver
~ ,h~ll h:~.~r :~11 thr bru:~d and efT~tit~~e funcuun. anJ puwer~ ~n :imwi.r entru+ted by a court to a recei~~er, and such appointment shall be
maJ~ b~ ,uch ~uurt a. an aJmitteJ ryuity an.l mattrr uf ah+ulutr nght t~~ +aiJ nwrtgagte. and w itFxwt reference to the adequacy or
~nadcyuac~ ~~f ~hr value uf thr pmprr~~ m~~rtgag~~1 ur to th~ wlvcncy ur inwlvency uf said rtwrtgagor or the defendents, arxi lhat such
renh. pn~fit., incume, ~,.ur~, a~xl rr~rnur, .hall tk ~pplied by ,uch receivrr accurding to the lirn of this mortgage and the practice of sueh
cuurt. in the event of any Jefauh un the par~ uf thr rtx~rtg:~gur hrrei~nJer. !he murtgag~r agre~s to pay to tht murtgagee un demrnd as a
~ rea.unahle m~~nthl} rental for the premi.ec an amuunt at lract equivalent to one-tw~dflh t1/121 of the aggregate of the twehe monthly
° in~tallmtnt, pa~~bk ~n thr ~hen wrrcnt yrar plu, the actual amuu~t of the annual teaes, a++eUments, water rates, anJ insurance premiums
' fur .u~h }car nut cu~rreJ by thr afirrc+aiJ munihly paymcnt~.
~ 9~hat Iu1 m thr event uf any hrcach uf thi~ m~xtgage or defauh un thr part uf the nx.rtgagur. or (h1 in the eveot that any of said
= ,um. ul munr} herr~n refrrr~tii ~u he nut prumpU~ and fuUy paiJ wi~huut dcmand ur noticr, ur Irl in the rvent that rach aad rven• thr
,upuiau~~n.. :,gr«mrntti. ~unJrt~um. :inJ cuvrnant, vf ~aed mKc and this m.x~gage. are nut July, prumpUy, arxi fully pe~furmrJ: thrn in
- ~~thcr .?r any ,uch evem. the ~aiJ aggreg~te .um men~iunrJ in wiJ nutr thcn remainig unpaid. w ith intrre~t accrueJ to tAat Ume_ arxi all ~
rrx~nry~ +tcureJ hrrrby. ~hall t+ea~mr dur an~: pa~ahle furlhNhh. ~~r Ihrreaflrr, a1 thr ~~?tiun uf ~a~d m~xtgagce. a, full} a~J complrtely as
; ~f all uf the tia~J +um~ of mnney werr uriginally ,t~pula~rJ tu tn p:~iJ un ,uch d:~y_ :in~lh~ng in wid nutr ur in thi. nx~rtFage tu the contrary
' nutN ~th~tarnling: anJ ~herrupun ~x thereaflcr, a1 thr ~~pUun af ~wiJ nwrtgag~, withuut n~~t~ce ~~r drm:~nJ. ,uit a1 law ur in equi~y. ma~ be
= pru~ecuted •s~ if all rtwmey~ ~etured hcrch} had matur~til pri~,r lu it, ~mtituUun. fhr nwrtgagee may -furrcfux thi~ m.~rtg~gr. a+ tu the
_ artwunt .u declared Jue anJ payable. :~nd thr saiJ prrmi.r. +hall ik x~W to tia~i~t'y and pay the +ame togNher with cush. etpenxt, and
:IIIUN,,ncc.. In w,r uf par~ial fureck?~ure uf th~~ murlg~¢c, thr murtg:~grJ prrmix~ ~hall bc ..~IJ ,ubj~Y1 to thc cununwng I~rn of this
nwrtKage (.~r thr amoum ~if the Jebt not then Jur ~nJ unpaiJ. In .unc ~a~c thr pru~~~ium uf thi, paragr~ph may :tg;un t?e av:~ilyd of
_ thrrr:dtrr h~~m t~me iu timr hy the murlK~K«
" 10_ I hat Ihc rtHOR~~q~r wi1{ g~vt ~mm~Ji:~tr nnucr by msil tu the rtx~rtgagrt uf am• cunveyarxe. tran~fer, ~~r change uf uNnrrsh~p uf ~ ;
~ Ihe prrm~~r.. ' '
~ 11. I hat no Naiver u! am c~.vrn.in! hrrrm ~~r uf thr uhligauun +~tiurrJ hcreb} ~hall at any umr thcreafter t+r helJ tu t+~ a wa~ver vf '
_ thc tcrm~ h~rruf ur of Ihc outr ~rcurcd hrreb}. ~
; 12. 1 hat if thr rrw~rtt:~gur Jcfault ~o any of thr ruvtnrnK ur ag~rem~nt. cuntaineJ herrin, or in wid note. then thc mortg~gee may ;
t pcrform thr ~ame, arxl a!I r~prnJiturr, ~~nrluJing reasonahle atturney's feesl made t+y the mortgagre in w Juing shall draw interest at the
rate cet fcxth in Ihe note .rcurrJ hrrehy, and tihall t+t repayable irnmed~ately and w~thuut dtmand hy the rrwrtgagor tu the tnortgagee, anJ. #
tugrther with intcrr~~ anJ ~u.t. accruing thereun. shall be secureJ b~ Ihie mortgagr. !
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~ ~~~K~gg F~,~~i65~ ~
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