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2. Th~~ ie order more fully to praoct•thc sacuritr ot tAa mortp~e. the moresa~or. eosether wi~h, am1 in addi~an to~ the mon~ly
paymena under ~be iern~s of ~he nae ~cu~ed hereby, oa the b~st tiay of eacA montb until the ssid note is fully paid. will pay to the ;
mon~ee lhe fdlowini wms:
(a) An amount wllkient to provide the holde~ hereot with fuads to p~r tAe neat a~ortyye inMUanoe premium it tAis inswmeat and ~
the note ~ecund haeby are iu~ured. or a mootAly charse lia lieu d a reortsa~e inwraaoe premium) if tt?ay ~re btld bp lM
Secretary ot Hou:ins u~d Urban Developmet~~ as folbvvs:
(U If aod ~o loas aa said aote d eren date aad this instrun~t ara ipsured ar are roiasured uader the provaioas of the
Nationsl l~oeniet Ac~, aa amount wtficieat b aa:umulate ia the hsod~ d tbe Aolder ooe t!) ~aoathprar w ia due d~to tbe
an~wl mortjase iasurana prea?iwn. i~ order to provide such halder with fuads to pay wch premium to the Sacreary ot , i
Housins sad Urbaa Develupmeat pwsuant to the Natioaal Hou:ias Ac~ as amended. aad applicabk Re~ulatioas
thenwMer; or
(11) If and ~o loos ~s said note deven date and this insvumeat ue hcld bp tl~e Secretary of Housins a~d Urbaa Developnree~~ ~
a e~wiatMy ci~a~s (in lieu of a mort~ase insuraace premium) which shall be ia an amouet equal to ono-twelflh t1/12) of
one-bslf (4S) Per cenwm of the svers~e outstaadias bdlance due oo tbe aote computed witbout takia~ inw aocouut ' t
delitqueacies or prepayments;
(b) A sum equsi to the ~round rents. it aay. oeat due. Plus thcpremiwns that w~il1 neat beoome tlue and psyable on policias of flro
snd oU~er huard ~l~wranca oowFins the men~apd property. ~lus wces and Wslsuqeau next due on the mort~ssed pmperty (all
as eqimsted by the mortta~oe) ka dl wms alrady paid therefor divided by the numba of months to dape b4tore one moath
PROr WJ~~! dste when such ~[ouad cents. preouums, utxea„ and sasa~oents wiU bocome delinquen4 such sums to be- held by }
tnort~e~ ie Trust f~ paq said pound rents. ~emtums. taxes. and special ssaessments: and
(c) All paymeab meataoed ia the t~o preadins wbsections d Wis p~i~h and ail parmaeta to be a~ade uoder tAo aote secured
hereb~~saaN be added tosether and the a~repte amount thaea[ shaA be paid by the mort,~a~or each monW in a siosle paYmeat
to be ~pplied,bX t~e mort~asoe to the fdbwiog items in the order set fath:
(q preqti~m ehuges undu the contrsa of i~urance with tl~e Secrctary ot Housin~ and Urbs,n Devebpmea~ ar manthly
c~arte (ia lieu of mortpse imuraooe premium~ ss tAe cax may be; , \ - ~
(ll) ~rouad reats. tazes. assasmmoa~s. fue, and other huard insuraoce premiums;
(1l1) inte~est on the aote securad Aeroby; and
(l~ amortisatioa of the principal dsaid note.
Aay deficiency in the amount of wch s~gresste monthly payment shall. unlas made good by the mort~or prior W the due date o[
the next wch paymeat, coastitute an event of default under chis mangage. The mart~agee may collxt a"Iate char~e" na to euceed two
ceats (2c) fo~ ach doUar (SI) ot each paymeat more tAan fifteea (IS) days ia arrears to cove~ the extra expense involved in handlias
aelinquent p~syments.
3. That if the total of We payments made by the inortga~or under (b) of para~aph 2 proceding shall exceed the amount of the '
PaYments actuallY made by the mortpset, for ground re~es. taxes and a~aits ar~d insuraace premiums. as the case may be, suc~ ;
eue~s at tbe option d tbe matjaje~ s6d1, be croditad on wbsoquent paproeats co be made by che u~.nrt~a~or. or rtfuuded to tbe
mortgasor. lf. bowever. the monthly paYments made by the moct~a~or under (6) of paragraph 2 preceding shall not be sut~icient w pay
ground rents. taaes and sssenments and insurance premiums. as the case may be. whea the same shall beoome due aad PaYabk, thrn tbe
~«Y~~ PsY ~o the mortaa~ee any amouat necessary to make up the deBciency, on or beforc the date when payment of siech
g~raud rents. taxes, assessmen~s, or insurance prcmiums shall be due. If at any time the mortQa~or sball tender to the mortgsge~ in
acoordance with the provisioas of the note socured hereby, full psyment of !he entire indebtodntss represented the~eby, the mortga;ee
shall, in oomputing the amount of such indeMedness, c~edit to the account ot the mortgagor all paymonts made und~~ the pwvitions of (a) !
of paragrsph 2 hereof which the mongagee has not become obligated to pay w the Socretary of Housi~ and Urban Develdpmutt aad any
batance rcmaining in the funds aocumulatod under the proviseons of (b) of said psragraph 2. If there shall be a default under any of the
pmvis'ans of this mortgage, resulting in a public sale of the premises covered hereby, or if the mactgagee aoquircs the property othe~wise
after default. the mortgagee shall app1Y. at the time d the commencement of such praceedings or at the time the PropertY is otherwise
soquirod, the balaace then rcmaining in the funds accumulatod under /b) of puagraph 2 precedipg as a crcdit against the am~um of
principal then ~emaining unpaid under said note and shall properly adjust any paymenu which shall have been made under (a) of said
~aPh- .
4. That he wi!! pay all taxes, assessments, water rates, and other govrrnmental or municipal charges, fines, or impoaitions. for which
provision has not bcen made hereinbcfore. and in default thereof the mortgagee may pay the same; and that he will promptly deliver the
ot5cial ra~eipts therefor to the mortgagee.
. S. That hc will permit, commit, or suffer no waste, impairment, or deteraration of said property or any part thereof: and in the event
of the failure of the mortgagor w keep the buildings on said premises and those to be erocted on said premises, or improvements thereon,
in good rcpair, the mortgagee may make such repairs as in its discretion it may deem nocessuy for the proper preservation thaeof, and
the full amount of cach and every such paymenrshall be immediately due and payable. and shall be secured bjr the lien of this mortgAge.
6. That he will pay all and singular the costs, charges, and ezpenses, including reasonable lawyer s fees, and cosu of abstracts of titk. i
incurred or paid at any time by the mortgagee becaux of thc failure on the part of the mortgagor promptly and fWly to ptrform the
agreements and covenants of said promissory note and this mortgage, and said costs, chuges, and expe~es sha11 be immediattly dut and
p~yable and shall be secured by tbe Gen of this mort~aYs. .
7. That he wilt keep the imp~+ovements now existing or hereafter e~cta! on thc mortgaged property, insurrd as may be required from
time to time by the mortgagee against lass by fire and other hazards, casulatia, and wntingencies in such amounts aod for wch periods as
may be ~oquired by mortgagee, and will pay promptly, when due, any pr~miums on sucA insurance for payment of which provision has not
be~en made baeinbdare. All iasurance shall be urried in companies approved by mortg,aiee aad the policia and rencwals Wereof sha11
b~'held by mortgagee and have attachod thereto lass payable clauses in favor of and in farm acxeptable to the mortgagee. In event of loss
he will give immediate notice by mail to matgagee, and mortgagee may make proof of lass if not made prompUy by mortgagor. aM each
insurance company concerned is hercby authorizod and diroctM to makc paymeni for such loss direcUy to mortgagee instead of to
mortgagor and mortgagee jointly, and the iasurance proceeds, or any pan thereof, may be applied by mortgagee at its option eithe~ to the
roduction of the indebtodnas hcreby stcurod or to the restoration or ~epair of the propMy damaged. In event of foreclosure of this
mortgage or other transfa of citle to tha mortpgod prap~riy in extinguishment of the indebtodnus socured hereby, all right, title, and
interest of the mortgagor in and to any insura~e policies then in force shall pats to the purchater or ~rantee. -
8. That the ~nortgagee may, at any time pendi~ a suit upon this mataage, apply to the court having jurisdiction thereot for the
appoincrixnt of a neceiver~ and ~c6 oourt shall farthwith appt~iht ~ receiva of the pretnisa oovered Aereby a11 and sinau{ar, including all
and singular the income, profifs, issues, and revenua from whatever source derived, each and every of which. it beins expressly
understood, is hereby mortgaged as if specifically set forth and describod in the granting and habendum elauses hereof, and such receiver
shall have all the broad and effective functions and powen in anywise entrusted by a court ta a rtceiver, and wch appointment shall be
made by such court at an admitted equity and a matta of absoluto right to said mongagee, and without rderence W the adoquacy or
inadoquacy of the value af the propcrty mortgaged or to the solvency or insdve~cy of said mortgagor or the detendents, and that such
rcnts, profits, income, issues, and revenues shall be applied by such receiver acoording to the lien of this mortgage and the practice of such
court_ In the event of any defwlt on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgaa~e on demand as a
reasonable monthty rental for the premisa an amount at lesst oquivalent to one-twelfth (1/t2) af the aggregate of the tw~elve monthly
iosuttlments payable in the then ceerrent yeu plus the actua! amounl of ihe annual tues, asxssmcnts, water rates, and insurance premiums
for such year not coverod by the aforesaid moathly payments.
9. That (o) in the event of any breach of this mongage or default on the part of the mortgagor. or (b) in the event that any of said
sums of money herein referrod to be not promptly and fulfy paid without demand or notice, or (c) in the event that each and every the
stipulati~nx; aareements, conditions, and covenants of' said note and tha moR~age. are not duly, promptly, and fully performod: then in
either or any such evenl. the said a~re~ate wm meotioned in said note then remainig unpaid, with interest accrucd to that time. and all
moneys socured hereby, shall become due and payable forthwith. or thereatter, at the option of said mortgagee, as fully and oompletcly as
if all of the said sums of money werc originally stipulated to be paid on wch day. anythin~ in said note or jw this mort~e to the oontrary
notwithstandins; aod tKerwpon or ther~afta. af the option d said mort~aace, without notice or demand, suit at law or in equity. may be
prosxuta! as if all moneys securod hereby had mawred prior to its institution. The mongasee may forec{ose this mortga6e, as to the
amount so declual due and payable, and the said premixs shall be sold to satisfy and pay the same together with wats, cxpenses, and
albwances. In case of partial forecbsure of this mortgage. the mortgaged premises shall be sold subjoct to the continuing lie~ of this
mortgagt for the ~mount of the debt no! then due and unpaid. In such case the provisions of this paragraph may again be availed of
thereafter from time to time by the mort~agee.
10. That the mort6agor wiU give immediate notice by mail to the mortaasoe of any conveyance, transfer, or change of ownership of
the premises,
I 1. That ao waiver of any covenant herein or of the obligation socured haeby shall at any time thereafter be held to be a waiva of
the terms heroof or of the nott secured hercby. .
12. That if the mortgagor default in any of the covenants.on ~ts cpntained herein, or in said note, then the mat~aaes may
perform the same. and all expenditura (including reasonaWe andtnly'~y~i~ade by t}~e mortga~ee in so dang shall draw interest at tbe
rate set forth in the note socured hereby, aod shalt be repayabte immodiately and without demand by the mortsag,or to the mortsasse. and.
to~ether with interest and costs accruina thereon, shall be socured by this mart~e.
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