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2. I hat. ~n urdtr rtxue lully tu prutc3l ~hr ~riurhy uf Ih~~ IlxNlgaba. Ihr mu~lg.~gu~, t~~grll~r~ N~IA. ani) ~n a~ld~iu~1~ tu. Ihr nA~nlftl~
paymrnt~ undr~ lhc trrm~ uf ~hr nutr xtiur~ti! hrrrhY, un Ihr fir~t da) .~f r:Kh mun~h unUl the ~:ud n.~tr I1~Uy pa~J. Mill pay tu Ihc
nwngagtr thr fulMuwnK wm~ ~
Iul .~1n anwunt .ufficient tu prov~Jr the huWer herrc~f N~tA funJ. to pay the nr~t rtx?ngage ~n.urance ~xrmwm ~f th~+ in.~rument rnJ
the nutt securcd hrrrby are ~murrJ. ~ a munthly chargr lin litu of ~ rtx~ngage ~muranct prcmwml ~f ~hey are hrld hy the
lnreu?ry of H~~using anJ Urban [kvelopmrnt, a~ fuUu~s:
111 If anJ x~ long a~ wiJ nc~te ul' evtn date snd ihis imtrument arr inwr~tii u~ art rc~nwrrd unJer the nruv~,ium uf Ihe
~latianal Hou.ing Ac~, an amoun~ sufl-icient ta aaumula~e in ~he h:+nJ. of ~he holder unr 111 momh {x~ur to ~t~ due Jrte the
annual m~~rtgagt in+urarne premium, in urdtr to proviJe ~uch huldrr w~~h IunJ~ tu pa> wch prrmwm 10 lhe tik~:retary uf
Huusing anJ Urb;~n [kvriupment pur~uam tu thr Nauunal Huu,ing Ai~, a+ amrn.lyd, arxl applkablr Rrgul~uun~
thrreunJrr; or
1111 If and x~ lung a~ wid note uf even date arx! ihis imtrumrnt are hrW hy ihr ticcrctary of Hou,ing a~x1 U~ban ikvrlopment,
r rtx~nthly charge lin I~ru uf a murlgnge imurance premiuml which ,hatl t+r in an ana~unt ryual tu unr-twelfth 111121 of
une-half 14_ 1{+~r crnwm uf the avrragr uut+lanJing b:ilarx:e Jur un tht nutr ~umputrJ w~thuut la?~ng ~nw attuunt
dthnyuencir~ ur prrpaymrnt+;
Ihl A+um ryu•rl to the gruutxl rrnt~, if any, next dur, plu. ~hr {xrmiums that w~ll nrx~ t+~cumr dur anJ payable on {wlicie~ oi fire
anJ uther hatard inauranct cuvering thr nwrtg~gc~1 Ex~~+erty, plus taars anJ a.ccvmr~u. n~~i dur.~n thr m.utgagtd properry Iall
a+ csumatc~i by the murtgageel Irss all sums rlrrady pa~d tht~cfor drvidrJ by the numtxr uf munth. to elap~e before one mun~h
pnur to lht datr whrn such gruurxl rents, prcmwms, taars, rnJ a~~r+~mtntti K ill brcome ~lelinyurnt, such wms to t+e hrW by
mordagee in tru~t t~i pay ~aid ground rcnts, premiums, taxe+. ~nd .pecial a~~r~+mtnt~; anJ
1c) All payments mentioned in the two p~eceding subxctions of tAis parag~aph arxi all paymenu ~o t+r made uncier the note secureJ
hercby ~hall t+c :~Jdrt1 tugtthrr anJ thr aggrrgalr amuunt thrrcuf,hall bt pai~ b} thr mortgagor ~a~h monih in a a~nglt p:?~•mtnt
to t+r ~pplird by the morlgagee 1u Ihe folluwing i?enr m thc ordt~ ~et furth:
111 premium ch~rgc~ undr~ ~hr cuntract of imurancc w•ith the tic~rrtary uf Hou~ing and Urb~n [~veloprnent, or m~mthly
charge lin liru uf mortgage insurance premiuml, as ~he ca.e may be;
1111 grounJ rent+, ta~e~, a~se~ments, firt, arxl ulhrr h:+tarJ inwr~n~c prrm~um~;
(I111 interest un tht nWe ~ecured hercby; and
IIYI amortiration of the principal of ~aid notr.
An~ drti.i~n~y ~n the anwunt ui ~uch aggrrgatr m.~n~h1~ paymrnl ,hull, unl~~+. msde g.~«i b~ thr murtgagur priur tu the due Jatr uf
tht nc~t .uch payment, cumutut~ sn rvrnt uf drf:~ult unJer th„ m~~nga~r. I hr mu~~gagee m~y ~ull~lt a°latr ~~IAf~C f1Ul IU CiCCCI) IKO
ccnu ~2c1 tor cach ~k~ller IS11 of ~xh paymrn~ murr than fift~cn IISI day. in arr~:u. tu cuv~r thr ~~tra r±~{xmr ~nvul~ed in h:~nJling
delmyurnt pa~mrnt+.
3. fhat ~f the tut:~l ~~f Ihr pa~mrnl~ ma~e hy the murtgagur unJer Ihl uf paragraph : prec~ding .hall ~~~reJ tht anx~unt uf the
pnym~nt. actually m:iJr by thr miKtgabrr, fur gruunJ rrnt~, taxcy arxl at~r~+mrnh anJ in.wancr pr~m~um., a. ~hc ~ax m~y be, wc~.
excess at the option of ihe mixtgagee, shall, be creditcYt on wbsequent payments to be made by the mortgagor, or refunded io the
rrnxtgagur. lf. huwr~~er, tha rtx~nthly paymrnt. m:xie by thr rrx~rtgagur unJer ~bl .?f paragraph 2 pntirdin~ ~ha11 hut be +uffic~en( lu pay
gruund rrnt~. ta~r~ arxl a,.~y,mrnt. and inwrancr prenuum~, :+t ~hr case may br. Mhrn thr wmr .haU brcumc due arxl payablr, thcn ~he
nwr~g~gur .h~ll pay tu Ihr murtg~grr any aozuum nr~r+~ary tu ma?e up the Jrtic~rn~~, un .K t+rf.xr thr datr whrn paymtnt uf wch
grounJ rrnu, taars. s~x~,m~nt~, ur ~n,urance prrmiums ~hsll br Jur_ If a~ any timt ~hr m.xtgagur ~hall t~n.lrr tu thr nwrtgagrr irt
:+~curJancr w~th the p~uvi.i.~m uf the nutr k~urrJ hrrehp, full payment ui the enurr indrbt~tln~~., rrpre+rnttd thrreby, the rtx?rtgager
,hnll, in cumput~ng ~hr amuun! uf wch irxlebt~tiinra+, cre.fit tu Ihr accuunt uf thr m.xtgag.x all paymrnt~ maJr u~~rr ~hc provi+ium of Iul
f .~f paragraph ~ hercof uhich Ihr murtKager ha. nut t+ecum~ ublig,?tctil tu psy tu the ti~retsry• u: I~ou~ing snJ l;rban Develuprr~nt snd :~ny
~ halancr remaining the funJ+ :~~umulatc~l un.lr~ thr pro~ i.~un. uf Ih~ ~.t~ ,:~iJ paragraph If thrrc .hall t+~ a dcfauh urxirr ~ny of thr
£ pruv~.iiim uf th~, mixtgagr. rr,uh~ng in a puMi~ ~al~ uf th~ prrm~.« rurerctif hrrrh~. ~,r ~f thr m~xtgagc~ a~'yuirc, thr pru~rrty uthrn+~x
; ~fler tirfault. the murtgag~e .h~ll apply, at the umr uf th~ :ommrncrmr~t uf .uch pnkerd~ng+ ur at th~ um~ thr pruprrq ~~thrrw i~
€ :~ywrrJ. thr hdl:ltlC2 thrn rrma~n~ng ~n thr funJ~ acrumulatrd unJrr ~h? uf paragraph prccrding a. crrJit :+g~~mt thr ~muunt uf
E pnncipal ~hrn rcmaimng unp~~J under w~d nutr ao~ ~hall pruFxrl~ a~~u~t an~ paymrnt. whi~h ~hall ha~~ I+rrn maJr und~r (~~1 uf wid
~ Par~graph.
f 1. Ihat hr N~II F1:1~ :tII I:11~~1.:L?1Cllflllflll. N;~Itf GLIIh, Af1lI uther g.~v~rnmrntal ur mun~cipal ~hargr.. fin~,. ur impu.nwm. fur Nhi~h
q pruc~.~uo ha, nut hrrn maJe herrint+rforr. and in drfault ther~rf the murtgag~e m:iy pa~ Ihe .amr: anJ that he .+ill prumptlp drl~vcr ~hr
~ uffici:+l rcZe~ph thrrcfur tu thr mungagr~.
€ S. 1 hat hr w ~11 prrmh. cummh, ur ~utTrr nu a.tr, impaumrn~. ur Jrtrriurat~un uf ~a~J pn~rrty ur any par~ thtrruf: anJ ~n thr rvrnt
~ uf thr I~ilure uf thr nx~rtgagur tu Arep thr bwlJmg+ un ~a~J prrmi~cw anJ thu~r ~u M: er~tited un ~a~d prrm~,t,. ur ~mpruremr~t. therrun.
~ m g.wxt repair. thr nx~rtgager may ma?e wch rrpain „ in itc discretiun i~ may deem nctie++ary fix thr pru~xr pr~~rrvatiun ihereuf. and
thr full artx~unt uf rach and errry ~uch paymrnt xhall br immrai~atrlp due snd psyablc, :~nd shall be utiureal by the lien of ihi~ rtx~rtgagr.
E A. (~at he wili pay aii arxl ,inguiar thr ~u+u_ ch:ug~~. anJ exprnxs. ~nduding rr:uunablr ia..~r~'~ frr,..+nJ cu;t+of aMtracis of tide.
~ iniurreal ur pa~d at an} timr b~ thr murtgager becau.e ~~f thr failure on ~he part uf thr rrx~rtgagur pramptly and fully to perfi>rm the
agreemrntti anJ cu~rnanb ut~.:uJ pnrmi~+ury nulr anJ ~h~, murtgag~. :tnJ ~aid ci~t~. chargr+. anJ e~pemr++hall t~t immrdialely due anJ
ry payahlr anJ ~hall hr uYUrrJ by thr hen uf Ihi~ murtgagr.
7. fhat hr w ill ?cep Ihr impruvement+ nu~ rt~,t~ng ur hrreaflrr rrect~rl on the murtgagrJ pruprrty. ~murrd „ may~ Ix- rryu~rctil Frum
x ume tu umr hy the ~rx~rtgagrr agaimt I~n, by fire ~nd uthrr hazard~, ca~ulat~e., snJ contingrnr~r~ in .urh anwun?~ and fi~r wth penual+ a~
' may t?r reyuirrd by mung:~grr. and aill pay promptly, when due. any premiumt un.uch inwran~e fur payment uf whkh pruv~.iun ha. not
- been made hercinbefore. All inwrance shall be carriod in companies approved by mortgagee and the policics and renewals the~cof shall
t+e heW hy murtgagre anJ havr attacheJ Iherelo lin~ pay:~ble clau~c~ in favor uf anJ in furm acceptahle to the rtx~rtgagre. In evrnt uf los,
he M~11 givr immrdiate nuti~r f1y" fi131I lU filllfi(~':16'CC. :llhJ (11UfIg3gCC lilay~ Ol'dAl' ~1f1M1( l1P IUl1 lf I1U1 maJe prompUy by m~xtgagur, anJ each
~ ~murancr cumpany concernrd is hereby authonteJ and d~rected to make p~ymrnt for such I~n, Jireclly to nx~rtgagee imtraJ uf Io
murtgagur anJ m.xtgager ju~ntly. 3nJ the m~urancr pr.kerJ~. ur any part ther~~uf, may t+e applieJ h~ rrx~rtgagec at its option rithrr tu thr
~.'s reducliun ~~f thr ~ndebtcJnet~ herehy ~ecured or to the re+turatiun ~u rrpair ~~f the pruperty Jamagrd. In rvrnt uf foreclu~urc uf thi~
~ murlgagr ur uthrr Ir:?mfer of htlr to thr mortgageJ pn~pertp in e~tingu~~hmrnt uf !he indebtrdn~~+ u•iurrJ herrb}, sll right, tiU~, and
Y ~ntrrc~t of thr murtgag~~r ~n anJ w any mwrance policiec then in furce tihall pat~ tu the purchr,er or gr~ntee.
te. ~h~t thr rrxxs~;~gre may, at 'sny time penJing a~uit upun thi+ mortgage. :~pply to the cuurt having jun.Jiction thereof tor thr
~ apEx~intment uf a rrceivrr, and tiuch court ~hall forthwith ap~wint a receiver of the premities covered hereby all 3rxi cingular. mcluJing all
~ anJ ~ingular the ~ncumr, prufih, ncues, and revenues from whatever source denvrtl. each a~xi every uf which, it br~ng rxpretisly
~ . undentuuJ. htrehv mortg~getif as ~f ~pcYifically tiel forth and deticribeJ in the granting anJ habendum ciau,e~ hrrerf. anJ ~uch receiver
tihall ha~•e aU thr broaJ arxi rffrctivr functiun~ anJ puwer, in anywi~e entrusted by a court to a recerver, and +uch ap~~intment shall be
~ made ny ~?,~n „ sn ~dmiued rquity anJ a matter uf abu?lute right to tiaid mortgagee_ anJ w ithuut refererke to ihe adeyuxy or
~ ~nadryuacy of the ~alue uf the pruprrt~~ murtgaged or to the solvency or irtsulvency ot s~id mortgagor or the defendent+. arxi that wch
~ rent~, profits. ~ncome. ~~.ues, anJ reve~ue• shall br applieJ by ~uch receiver accorJing to Ihe lien of Ihic mortgage anJ the practice of iuch
:ourt. In the event of any dcfauh on thc part ot thc mc~rtgagur hereunJer. the mortgagor agrees :o pay !o the m~rtgagec on demanJ as a
' rea~onable monthty rental for the premises an amuunt at leasl equivalent to one-ta~elfth 11/~ 21 of the aggregate vf the Iw•elve rtwnthly
: mstallme~ts payable in the ~hen current year plus the actual amount of the annual laxes, a~sessments, w-ater rates, aad insurance premiums
~J for such year not covereJ by the afuresaid monthly payment~.
9. Th~t lu) in the rvent uf any breach of thi+ mixtg~ge or default on thr part uf the rt?ur~gagor. ur Ih) in thr event that any of tiaiJ
sum, of ine~ne} herein refrrrrJ to br not promptly and fully paid withuut demand ur no~ice. or 1 in Ihr event that each anJ every the
- tidpulati~~m. agrremrntti_ cunJhium, anJ covenants of said note anJ th~s mortgagr, are not duly. prump~ly. and fully performeJ: then in
rithrr ur am ,uch evrn~. th~ w~d aggregate sum memioned ~n saiJ rwte then rrmainig unpaiJ, with interc~+1 accrued to that lime, and all
rtx~nr~. ,r~iurJ hrreD~~. ,hall t+ea~me due ~nJ payable furthw ith, ur thereafter. at thr i~?ti~~n of ,aiJ mortgagee, a. fully anJ completely a~
if all nf the wiJ wm. of !tumey were u: ig~oally ~Upulatrd to be paiJ on wch Jay. any~hing in w~J nutr ur m th~ti rrnirtgage to Ihe cun~rary ;
M)lM I(Fi~land~ng: and therrupun vr thercafter, at ihe ~{+uon of r~~d rrk~rtgagee. withuut nvucr or drmanJ. +uh at la~+ or ~n eywly. m:sy tx
pnnecuteJ a~ if ~II rnuney> >rcured hereby haJ mawrrJ pnur to ~t~ inwtuuun. 1 he murtgagee ma} fitireclu~~ th~~ rn~~rtgsgr. at to the
arrn,unt declared Jue anJ pay:iblr, anJ the ,aid premix~ .hall hr .uW tu ti:aitify anJ pay thr .:+me tugrther with arh, r~pen~ec. aoJ
alluN.~n:c. in ~a~e uf paru:d fure.l~r~ure of Ihiti mortga~tr. Ihe m~xtg~ged prem~se~ ~halt be w~ld ~uh~rcl lu thr c~~nunwng lien uf this ~
' rtw~rtga~r (ur thr em„unt nf thr deht not Ihen Jur anJ unpaid. In +u:h catie the pruc~.ium uf ~h~, pa~agraph ma~ .~gain be ava~led uf
" Iherraftrr frum umr tu Ume hq thr muttgagee.
1(1. I hat the rixrrig;~gur w ill givr immrdiate nuUCe by mail to thr rrx~rtgagee uf an~ cunveyarnr, tramfrr. or change uf uwnenh~p of
the prem~tir,.
I I. 1 hat nu warvcr nf any ru.e~ant here~n ur uf ~hr ubl~gatiirn .eYUrrJ hereby ~hall at :my t~me thrrratler br hrlJ to be warver uf
~ the trrm. hereuf ur uf thr n~~te .ecurrJ heu;~y, R
;.f 12. 1 hat ~f the m~~rtgagur Jrf.wlt m~T1f ~~vetlanKi~'eEr~e~nents contained hrrrin. ur ~o w~d nu1e, Ihen thc m~xtgagre may
_ perform the samr. anJ all r~pendrturc~ ~ i~~~~ycryoq~ey's fee~) rr~ hy the m~xtgager in w duing tihall Jraw interest at the
ratc set forth in thr nute tiecureJ hcreby. :~~k~~e~laya~q,a , el ,apd~y~itduul demanJ hy the rrwrtgagor to the rtwrtgaget, and.
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tugether wilh intereat anJ cu~ts accruing ~~$1~11 be secured~is r{oaQg• .
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