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fha~, in urJer murr fully tu pru~rct Ihr ~tturily ~~i thh murtgagr, thr n~ortgagu~, t~+~r~hr~ w~1h, ;uxl ~o aJdition ti~, thr munlAly
payments un~lrr the te~ms uf 1hr nutr +~~un~l harrby, an thr ti~~t Jay uf ea:h munth until ihr ~aid nu1~ tully paiJ, v?~U pa~ tu thr
nx?rlgag~c ~hr Ii~OuNin~,um.: . •
fa? An anwunt ~uftic~rn~ io prov~Je ~he holder her~f with [unJ~ tu pay ~hr nest mor~gage irt~urancr prtmium if ~his imtrumeot and
ihe nutr ~currJ hr~rby are insuntil, or a munthly chargr lin lieu .~I a monga~e i~surance prrmium) if lhey are held by the
ti~~cre~ary ~?f Nuu~ing ~nJ U~ban Develupmcnt, as folluw~:
111 If and w lung as ~a~J nute of even date anJ this imtrumcnt arc inwrctil ~x arr rrinwrcd urxirr tht pruvisions of the
Ihational Huusiog Act. an emuuM sufficient ~o accumulate in the hanJs of the holder onr f 1) month prio~ to its due date the
~nnuel nwr~gagr ~n~urun~r p~rmium, in urJer to pru~•i~ u~ch h~~lder with funJc to pay wch premium to the S~cretary of
Nou~ing anJ Urban Ikvrlopment pursuant to ~hr NaUonal Huuaing Act. a+ •rmendcJ, arxf applwablr Rrgul~tiun~
thr~eunder, ix
1111 If :?nJ so long as wid notr uf tve~ ~att a~xt this i~utrument a~e hcW by the Sccrttazy.of' Nou~in~ and Urban ikvrlopmrnt.
a monthly charge lin lieu of a mcxlgage imurance ~emium? w~hich shall t+e in an amount equa) to unr-twrlfth ~ U121 uf
une-hulf 1'4) prr centum of thr a~~erage outaarxling balance due an the note cum{wte~l without ~aAing into accuunt
Jelinquencie~ ~x propayments;
tbl A sum eyual to thc ground renl+, if any, nex~ Jue, plus thc premiums that will next bc~ome dWe an~l payablr un policies of fire
ern1 uiher hazard insurance c~v_ering thr_mortgagrdproperty, plus tax~ anil asstssment~ nex~ due.un the m~xtg~grJ p~operty iaU
as estimated by the mongagee) less all sums already paiJ thcrefor divided by the number of month3 to elapse befort one ma~th
prior to the date whrn such ground rents, prcm~ums, taxes, and assessments will become dtlinquent, such sums to be held by
mongagce in trust to pay said grvund rents. prcmiums, taxa, and special a~sessments; anJ
(c) All payments mentioned in thr two preceding subsections of ~his paragraph and aU payme~is to be ma~ie urxle~ the note xcu~td
hereby shall he adJed logethar and Ihe aggregate amount thereof shall Cx paid by the mortgagor ta~:h munth in a single payment
to t?e applied by 1he m~xtgagec to the folloM•ing item+ in the order.et fonh:
11) premium chargts under thr cuntract aF insurance with the Secretary uf Howing arxi Urban Develupmcnt, or nwnthly
charge lin lieu of mongage insurance premium). as the ca+e may br;
(11) grou~xi rents, taxes, assessmxnts, fire, and other hazard in~urance premiums;
U11) interest on 1he note secured hereby; anci
lIV? amortization oi the principal of aaid nw~.
Any deficiency in the anwunt of sueh a~rrgate moMhly p~ymem shall, unle+s maJe g~xxf by ~he m~xtga~;or priur ~o tht due Jate of
the ne~t such paymrnt, canstitute an event of default under thi+ m~xtgage. "~he m~xtgagee may cc~lfert a"Intr char~r" noi to exceed two
~ents (2ct for eanc ~iollar 1511 of each paymen! more than fitte~n I IS) days in arrrars to cover the extra expenx invulvcvl i~ hanJling
delinqurnt paymentc.
z. That if the total iif the payments made by the mortgagor urxfer ~b) of ~+aragraph 2 prrceding shaU excted the am~wn~ of the
payments actually m:xie hy the mortgagee, fi~r gruunJ rent~, ta~es and atise+sment, and insu~arnr premium,. ;u the casr may be. ~ucF
excesc at the option of the mortgagee. shall, be credited on subsequent payments to be made by the mprtsagor. or rtfundod to the
mnrtgagor. If, hoN•ev~~. the rrx~nthly psyments m.xla by the mortgagor undrr tAi paragr:~pn 2 pnc~ctirg sufficien! to pay
grounci r~nts. tax~y anel acseccmenis and imuraner premiurns. as the case may t+e, when the same sh:~ll lxrome due and payable. then the
mortgagor shall pay ta the mortgagee any am~wnt nea:essary to make up 1he deficiency, un ex before the date when payment of such
ground rentx, taxct, asces5men?s, or in~urance premiums shall t?~ Ju~. If a~ a~y time the mortgagor sh~N teneirr ro thr mungagee in
acconlance K~ith the pro~•isions of the notr ser:ured hereby, full payment of tht entire i~xlebtrJnesc repra~sented thereby, the mortgagee
shall, in computing the amount of cuch irxlebtrdnc~c. c~etiiit to the account of the mcxtgag~x all payments made under the provisions of In)
of paragraph 2 hereof which Ihr mortgagec has not t+ecume obligated to pay ta 1he Secretary of Housing anJ Urban [Xvek~pment anJ any
b~lance remaining in Ihe fe~nds accumulatcJ urxicr thc pruvisions of (h) of said paragraph 2. If Ihere chall be a default urxfer any of Ihe
provi~i~~m of Ihis mortgagr. r~~uhing in a publir ,ale uf the premi~rs covcr~d hrreby, or if the m~xlgagrr a~-yuirrs the proprriy uthrrwisc
after defaull. the murtgager ~halt apply, at Ihr umt .~f the c.~mmrncrm~nt of wch pr~wrrding~ ur at thc lime 1he pr~erty i~ uthrrwise
ae;quiresl, the bal:u~ce ihen rtmaining in thr fumis ar.cumulate~l under ~b~ of paragraph : precctiling a~ a erediE again.t thc amuunt of
principal then remaining unpaiJ undrr .a~d notr and tihall pru~xrh adjust any pa}ments wh~ch s~ll hav,e been made unJet (a) of wid
paragraph. ~
J. ~I~hst he wil! p~y .~U tate±. :,~tie+timentc. ~~:~trr ratc~, :mJ uth~r guv~rnmrnt:+l ur municipal charge.. finea, or impositions, fi~r Nhieh
provi,ion has not brrn maJc hereinhcfure, and in drfault thrr~Y~i th~ mortgagre may pay thr same; and that he will QrumpUy Jefiver the
oflicial r~eiptc Iherefor tu thr mortgager. ~
S. That he will permil. cummit, or wt7er nu N;?.tr, impairment. or deterioratiun of ~aid properry or any part thercY~t: arxl in the event
af the failure of the rrx?rtgagor to keep thc huilJings on said prrmisrs and tho+e to be rntitcd ~~n saiJ premiu~. i?r improvemenu thcreon.
io g~xxi repair, the nwrtg~gee may make such repain ;L~ in its discretiun it may drrm necc~.sary for the proprr preservation thereof, and
the full unwunt of each anJ every su~h payment shall be imme~liately due and payahle, anJ ,hzdl be secureJ by the lieo of this murtgage.
6. 'That he K ill pa~ a11 and sinsular the cocts, charges, and expenses, including rea~onaMe laH~yer'c fees_ and costs of atxtract+of title.
incurrtJ or paid at any timr by the murtgagen c~ti-suse of ~he failure un th~ part uf the mortgsgur pn~mptly and fully tu prrfurm 1he
agreement~ ~nJ covrnanh of wid promi~cary~ n~~te and ihis murtgage. anJ ~aid ca+ts. charge,, anJ expenu~+ shall be immeJiatrly Jue and
payahlc and ~hall b~ ,ctiureJ b~• the lien of this m~xtgage_
7. 'fbat he N•ill kecp the improvements now existing ~u herexftcr crected un the mor~gaged pr~pc rty, imurrJ a, may tk rcquir~tii frum
time tu time by the nx~rtgager :,gainst los~ by fire and other haiards, casulaties, and contingencie~ in such amuunts anJ fi~r u?~h p~ri~xls a.
may t~e rcquir~l hy murtgagee. :~nJ v?•ill pay promptly, Nhen due, eny premiums on such insurance fix payrnent uf whkh provi.iun hati not
been made hereinbefore. All insurance shalt be carried in companies approved by mortgagee and the policies and renewals Ihereof shall
t+e heW by murtgagee anJ have attacheJ thereto lac~ payable clausrs in favor of anJ in fexm acceptable to the rtx?rtgagee. In evcnt of lutis
he will give immediato notice by mail to mortgagee, and awrtgagee may make proof of lo~s if ~x~t made prumptly by mortgagor, anJ cach
inwrarne company wncerneJ is 6ereby ~uthoriuJ and directeJ tv make payment for such Iosc dircYUy !u mortgagec in~tead u! tu
rrwrtgagvr arxf m~Ktgagre joinll}, anJ ihe in,urancr proceedc. or any part thercof. may he applied by mortgag~e at its op~ion eithe~ to ~hr
reduction of the inJrMrJne.~ hrreby secureal or to the rc~+t~xation ~x rep~ir uf' the pruptrry Jamagrd. In event uf fi.reck»urc of this
rtwngage or olher lr~mfer uf tit(e to the mortgagrd pn?perty in rxtinguishmrm of_the irtdehteJnc~s. .crureYf hrrrhy. all right. titlr. and
interes~ uf ~he murtgagur in and tu ~ny insurance pvlicies then in force shall pass tu the purchasrr ur grantee.
S. "fhat thr m~tttgagce may,_at any time pending a suit upon this morigage, apply to the court ha~ing jurixliction thcreof fur thr
appointment uf a recei~•rr, and ,uch cuurt sha0 forthwith apEwint a receiver of the premises covered hereby a!I arHi .ingular. incluJing all
artd singular thr inrumr, prufits. iscues, and revenues from ~ha[ever sour+ce Jerived, each arxl every uf Nhich. it t+cing expreu~y
under.t.xxi, i, herehp m~~ngageYi ati if ~pecifically set fonh and de~critnYl in the granting and habendum cl:+uce. hereof, and ~uch rneiver
~hall hsve all thr bru:~d anJ rfT~ititiv~ functiom and powern in anya•ise entrasted by a cuurt to a receiver, :~nd ~ix:h app?inlment sh:+ll be
mnJe by such cuurt a. :in :iJmitted oyuity anJ a matter of aMolute right to caiJ mortgagee. anJ without refererne tv the aJ~~quacy or
inaJayuacy of ~he v;~lur uf thr pruperty mortgage~f or to the wlver~y or iasolvency uf said rrwrtg~gor or the defendeN` anJ ihat ,uch
• rentx, profits, incc~mr, i~w~-,, anJ re~•enurt shall he apptied hy wch receiver acconling to 1he tien of this rrx~rtgage anJ the practice uf such
court. In the event of any Jefault un thr pan of thr rtwrtgagur hercunder, the mortgagor agrees to pay tu Ihe mortgagee on demand ;LS a
reawnahle monthly rental k~r the premiuc an amount at least equivalent lo one-twelfth 111121 of the aggregate of the twelve monthly
installments payable in thc thcn current year plus the actual •rmount of the annual taxes, as~essments, water rates, and insurance premiums
for ,uch year not covered by ~hr afur~aid monthly payment~.
9. "lhat lu) in the evcm of any breach of this mortgagc or defauh un Ihe part of the mortgagor, or Ib) in Ihe event that any otsaid
soms uf rtu~ney herein rcferred tu he no~ promptly and fully paid without drmanJ ~~r noticc. or Ie~) in the rtien~ that each anJ ~very~ the
stipulation,, agreements. cunJitinn.. and cuvenants of said nwe and this mortgage, are nW duly, prumptly, arxf fully perforrrxJ: thc~ in
eithrr or any such e~•ent. Ihe .:ud aggregate wm mentioned in saiJ note then remainig unp:+id, v?ith interc~+t accrued to that ume. anJ all
rtw~n~~, u-~urcJ herehy, shall t?rcome due and payable forthw ith. or thereafter. at the optiun of saiJ rnortgagrr, as fully and rumplctely a~
if al) of the said sums of money K~ere originall~• ,tipulateJ to be paid on cuch Jay. •rnything in saiJ note or in this murtgage to thr contrary
notw•ithslanding; :?nd ther~uExm or thcreafter, at the uption of said mortgngee, wilhuut r~tice or Jemand, suit at law~ or in rquity, may be
pr~uteJ ati if all m~mcy, secured hereby had matured prior to its institution. The mortgager may forcYlose this rrx~rtgage. ati tu ihe
am~wnt so Jeclared due and pa}ahle. anJ ~hc ,aid premise> >hall be wW to satisfy and pay the samr together with e~xt., etpcnses, and
altowance~. In c:~x i~f partial fureckrure uf thic murtgagr, Ihe m.xtg:~ged premises ~hall be u~ld s~bjcYt t~~ thr cuntinuing lien uf this
rtwrtgage Cix the amuurt uf Ihe Jeht n~~t then dur anJ unpaiJ. In ~uch case the provisiom of this paragraph may again he av~ited oF
Ihereaflrr frum time to time by the murtgagec.
10. ~hat the rrn~rtgagor will givr immeJiate nutice by mail to the mortg•rger uf any conveyance, tramfer. or change of uNnrr~hip of
the premixw. .
! 1. "rhat nu wdivrr Of apy cojepant herein or of Ihr obligation ~ecureJ hereby shall at any time thereafter t,e heW ~0 1~ a waivrr uf
the terms hereof or uf the note secured hereby.
12. "That if the rtwrtgagor Jrfautl in any of the covrnants or agreements conta~aed herrin. ~x in said ~wte, then the mortgagee may
perform the same. anJ all expenditures lincluding rca~onable attorney's feesl made by the mixtgagee in so doing shall draw interest a1 the
rate ut forth in the note secured hereby. and shall bc repayable immediately and withuut Jemand by the mortgagor to the mortgaget, and,
together with interest and costs accruing thereon. shalt t?e secured by this mortgage.
~ ~ eooK ~2 Pac~ 8~
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