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2. "That, in arJer murr iully ~o prutect thr srcurity uf thn murigagr. Iht mu~tgagar, tugrthrr wuh, aixl in aJJitiun tu, ihr nr~nthlp
payments undtr ~hr le~m. of the nutc ~ctiurrJ hrrchy, un Ihr fin~ Jay uf tach niun~h unul the ,aid n~?tr is lully pa~J, .wll pay tu !hr
axutgager thr folluwing cum~:
Ia) M amaunl wffi~:irot to pruvide th~ huWer hercuf wiih fund, to pay tAe nrx~ rtw~igage insurance premium if thi+ a~st~ument anJ
the note se~ured hereby nre ~mureJ. ~ a m.~nthly charge lin lieu of a martgage i~surance prrm~um) if they are heW by the
Secrctary of Housing anJ Urban [kvclopmrnt, a. folk>ws:
I1) If and so lang ac wiJ nute of even date a~xf this instrume~t are in~ured ar a~e rcinsur~Y1 unJer thr prov~siuns of the •
National Housing Ac~, an amount sufficient to arcumutate in the hands of the fwlJer one 11) month priur to its due date the
an~ual murtgagr imurance premiam, en orJzr to pruviJr .uch hoWer witA fund, tu pay wch prrmium t~. thr k~retary ot
Housing and U~b~n l~~•elopmenl pur~u~nt tu the Natiunal Hau+~ng Act, a~ amrndrd, arxl applicablr Kegulatioo~
thrreunder, or
1111 If and so long a~ wid nott c~f even date and thi+ instrumrnt are heW by tht Secrc~ary of Houcing a~x1 U~ban [kvelopment,
a monthly charge lin I~eu uf a munbagr imuranct premium? w~hich shall be in an anwunt ryual to one-lwelfth (U121 af
une-half (yi 1 per crntum of tha :?verage uut~tarxiing balance due un the nute cumputeJ vrilhout ta?mg into account
detinquencieti ~x prrpayments;
It+) A ~um eyual to the gruund rent~, if •rny, next dur, pluc the prrmiums that will next bccome due and payable on policies of fire
atxf otAer hatxrd tn~uranee ~roverir?e ~Ae mertgrag~i-pre~ty, plus tazes and auasmen~s naxt dur on tt~e m~tgaged prope~ty lall
as esumated by the murtgager) less aN sums alreaJy paid lherefor divided by the number of months to elapse before one month i
prior to ihe date when such ground rents, premwms, taaes, and assessments will bec~me delinquent, such sums to be held by
mor+gagee in trust to pay said ground re~ts, premiums, taxes~ and cpecial a.+sessments; and s
(c) All payments mentioned in the two proceding subsections of tAis paragraph and all payments to be made under the note stcured ;
hereby shall be adJed Wgelher and the aggrtgate amoum thertof' ~h:?II bo paiJ by the mortgagor each month in a single payment
tu be applied by the m~xtgagee to the following items in tt?e ordnr set forth:
11) premium chargr+ under the contract of in~urance with the Secrctary of Housing and Urban l~evelopmeot, or monthly
charge (in lieu of mortgage insurance premiuml, as the cax may be;
Ill) ground rcnu, taxes, asseuments, fire, and o~her hacard insurance premiums; :
1111? irtteres! on the note ucured hereby; and ~
(IV) amortization of 1he principal of said note.
Any ~rfic~rncy ~n the amuunt uf ~uch aggrrgate rtwnthly paymtnt ,hall. unl~~ made guud h~ ihr murtg:~gur priur to the Jue datr of
tht next wch payment, wn.ututr an eveot of Jet:~ult unJrr this murtgagr. 7hr murtgaget may collect a"latr charge" not tu excerd tvru
cents 12c) fur rach dullar ISI l of ra.:h p:tyment mu~r than hftern 1151 Jay~ ~n :urears to cuver the ~xtra e~p~:rtsr involvrd in hanJling
delinqu~nt payments.
3. Zhat if the total uf thr pa~•ntents made by the mortgagur unJer Ihl of paragraph 2 prr~eding shrll excerJ ~hr amount uf the
payments actually made by thc murtgager. for gruunJ rrnt~, taxc~ and at,t~ments and insurance premium~, a~ the casr may be, such.
excess at the option of the mortgagee, shall, be credited on subsoquent paymenu to be made by the mortga~r, or retunded to the
nwrtgagor. If, however, the munthly payment. m:«1e by ihr nwrtgagor unJrr Ihl uf paragraph 2 prec~Jing shall nut be sufficient tu pay
grounJ rents, tax~ arxi a~~uments and in~ursnce premiums, ac the c:ue msy b~, when the samr ~h•rll bctiomr due arxi payable, then the
mortgagor ahall pay w thr mungager any amuunt nrce~.ary tu makr up the deficic~xy, on iK hrf~~re the date whrn payment of wcb
graunct rents, taxec, aasessmentz, or imur•rrxe premiums shall be due. If at any timc 1he m~xtgagur ahaU trrxler to ~he mortgagee in
acconiance with ~he provisiuns of the note secured hereby, full payment ut the entir~ irnlebte~iness repr~nted lhereby, the morlgagee
shall, in computing Ihr amoum of such indebtctilne~c, crc~iit to the account of the mcxtgagor all pay~merets made undrr the provisions of 1~~)
uf par:igraph 2 hereuf whi~:h the mortgagre has not become ubligateJ to pay to the 5ecretary of Housing anci Urban Dtvrlupment ancl any
halanct remaining in the funds acrumulated unJer thr pn~vi~iom uf (h? of .aid paragraph 2. If Ihere shaH be a drfault urnier any of the
pruvisions of thi~ mcxtgage, resulting in a public .alr of th~ prrmi,c~+ coverr.l hereby. ur if the m~xtgagee :~~:yuirr. thr pn~rty olherwise
after Jefault, ihr morlg:~gee tihall apply, at the timr uf the cummencrm~nt of ~uch pn~erdin~t+ ur at the timr thr pro~xny is o~herwise
:a:qu~rrJ, the balance then remaining in the funJs eccumulrtctii under rh~ uf par~graph 2 prtcc~iing as a crc,~ii1 ag-sin+t the amuunt of
principal then rrmaining unpaed under wid note anJ ~hall pr~?perlg adju,t :~ny payrttrnt+ which ~hall have t~rn made unJ~r lu) of said
paragraph.
4. Th:+t hr will pay :+11 taxr~, atcrssment~. Nater r3te~, and uthrr guvrrnmrntal ur municipal rhargr+. fin~+. ur imEx»itionc. (or which
provision has not been made hereinbefore. anJ in ciefault the~eot the mortgagee may pay thr same: and that he N,II prumptly Jeliver the
official rece~pts Iherrfor tu the mortgagee.
5. That he witl permit. cummit, ur tiuffer no ~a,tr, impairmrnt, ur deterioratiun uf,aid pruperty ur any part therroC anJ in the event
uf thr failure uf the mixtgagor to ~eep the huitdings un w~J prrmi,c, anJ thu~e to M: rrc~-~eJ un ,uid premixs..x improvcments thereun.
in gawJ repair. ~he rtwrtgager may makr such repain a~ ~n it, diKrrtiun it may derm n~c~~~ary for the pruper pre+rrvation thereof, and
the full amuunt uf each anJ e~•ery• wch payment shall t+e imm~yfiately due and p:?yable. anei tihall t?r ~et;urcYi by thr tirn of this rtwrtgage.
6_ That he will pay ail and singular the cvsts, charge., artei rxpenses, including rra~onable l~wrer's fres, :~~J cosh of abstracts of tiUr,
incurrai or paid 5t any time by the mortgagee t+ecause of the failure on the part of the mortgagur promptly anJ fully to perform thr
sgr~ements a~xi covenants of ~aiJ promisw~y note anJ this m~xtgage, and said cod~s, charges. ancf eXpemes shail be immeJiately due and
payabte anJ tihall t+e ucurcd hy thr lirn ~~f this mcxtgage.
7. {~hat he w~ll keep the ~mpruvemrnts now exi~ting ur hercafter rrrcteJ on the murtgageJ property, imureJ a. may t+r reywrrJ from
~ime to timr hy the nx~ngegee agaimt lu+s by fire and other ha~ards, casulatie~, and cuntingencitc in wch :?nxiunt~ ~nd for 1u~h penoJs ac
maq br reywrrJ by murtgager. ~nJ w ill pay prompUy, when Jue, eny premiums on ~uch inwrance f~x payment of whech pruv~~iun ha~ nW
been made hereinbeforc. All insurance shall be Carriod in compaoies approved by morigagee and the policies and renewals thereof shall
hr he1J by mortgager anJ hav~ aus~he~i thereto loss payable clauu~ in favor of anJ in fam acceptable to thr mortgagrr. In evrnt of luss
hr w ill g~~•r immeJiatr nuucr by mae! to m~xtgagee. anJ murtgagre may maAe pr~~f of Ims if nut madr prumptly by mortgagor, and each
imurance cumpany coneerned ~s hereby :?uthuriz~d and Jirected to male payment for wch lirs directly to rtx~rtgagte instead uf tu
rtwrtgagor arxi murtgagre juinQy. and the insurance pnxeeJs, or ~ny part therc~L may be applieJ hy rrx~rtgagre at it~ optiort eether w the
rrduction of thr inclebteJnecc hereby secured or to the res~uratit~n cx• repair of the property damaged. In event of fcxeclosure of this
murtgage ur uthrr tr:imfer uf t~Ue tu thr murtgaged pn~rty in eMtingu~ahment of the ~rxlcbtrdnc~+~ ~ctiured herrby. all right. uUr. anJ
intereu .if the mortgagor in anJ tu an~ ~pwrsnce policits then ih forte ~hall pass to the purchasrr or grantee.
R. Th~t thr f110(Ig3g~t Riil)'. ;1! ~n} ume pen~fing a suit upon tF?iti morigage, apply ti~ the cuurt having jun,aiic~iun thereuf for the
.+p~xnntment of a rctieiver. an.l wch ~ourt shall forthw ith appuint a receiver of the premises wvered hereby all anJ .ingular. irkluJing all
~nd ~ingular thr incomr. prufitti. ncuet. and revenueti from whatever x~urce derived, each and every uf which. it t+eing expressly
unJerct~xxl, i+ hereby mortgagrJ if .~xifically set furth anJ dexribeJ ~n the g~anting and habenJum clausc~ hereuf, :~nd ~uch recriver
.hall ha~e all 1he hruaJ snd efTetil~ve functiom and powen in anywi,e en~rustrJ by a court to a rctitiver. ~nd +uch appuintment ~hall be
madr by such cuurt ati an admittrd uyuu~ anJ mattrr uf abu~lutr nght to ,aiJ murtgagre. and w ithout refererke ta the aJeyuacy or
~naJequary of the v:?fue ~>f thr pruprn~ murtgaged or tu the x~lvrncy or inwlvenc~ of +a~J rrn~rigagur ur the defendents, xnd that ~uch
reou. prufiu. income, n~ua.y, ~nd rev~nun tihall be appli~d by tiu~h rrcciver acu.rJing to the lirn uf ~hi~ mortgag~ •rnJ the practicr of wch
~t~urt. I~ the event of any Jefault un the part uf the rtx.rtgagor hrreunder, thr murtgagur :igrech tu p:~y to thr murtgagrr un JemenJ a~ a
reaconahle monthly rrntal-for the premisec an amount at least c~uivalent to one-Iwetflh 11?121 of the aggregate of Ih~ tw~elve rrxinthly
mstallme~ts payable in the then curcent yrar plus the aclual amuunt of the annual taaes. a~sessment~. water rates, and inwrance premiurt~
fur stx:h year not covereJ by ~he afurcyaiJ monthly payment~_
9. That lu) in the rvrnt ~>f ~ny hreach ~~f thic mixtgage ur defauh ~~n 1h~ part uf the rrk,rtgag~~r_ ur Ih) in ~he c~rnt that any uf wiJ
.um+of muney herein referre.f tu I+r not promptly and fully paid withuul d~m.~~J ur n~xicr. ur tc1 ~n thr rvent lhat each rnd evrry ~hr
,tipul,~UUm. ;igreemrnh, cunJrti~m.. anJ covenant~ ~~f caid note anJ th~c murtgage. are not duly, pramptly. ;irxi full~ pcrformrd: ~brn in
r~ther ur any ,uch evrnt. Ihr ~a~J ~ggregate sum mrntiuneJ in ~a~d nute thrn remainig unpaid, w ith intere,t accrutJ l~~ Ihat t~mr. anJ all
rtx~nry. ~ecureJ hrreby. thall t+ecume due and pa~ able fcxthw ~th. ~x Ihereafter, at thr e~+Uun uf w~d m~utgagee, as fully and cumpletely as
~f all of thr c~id wm, of money were ungin~lly ,tiputatrd ta he pa~J un wch day_ amlh~ng ~n 4~iJ nult ur ~n thi. rrk?rtgage tu the cuntrary
nulwtth+tanding: end therrupon ur therrafler. at the option of saiA murtgager. ~~Ih.~ut nu~ic~ ..r J~manJ..u~t a1 law ur ~n eyuity. ma~ he
pru,ecutc~f a~ i( ~II rtx~nep~ tietiur~til hereh~ had matuntii priur to il~ m~t~twwn. fh~ murtgager ma~ (ixe.lu~e th~~ nx~rtgage. as tu the
arrwwnt tio Jrclared due anJ p.~}ahle. and the ,a~J premi~es shall (+e u~IJ to ~ati~f~ ~nd pay the +amr t.>gether u~th cu.~.. cxpenses, and
~lloNancr,. In :a~e of parti:il fi~re~luwrr uf th~t murtgagr. the murtg:~KrJ prem~,r~ ,h:~ll he wIJ wbjrcl tu thc continu~ng lien uf this
~~«R~K~ ~~~r the amuunt uf ~he drht nut thrn dur and unp.uJ. In ~uch ca,r thr pr~.vi~ium uf thn p.uagraph may :igain he a~ai(rJ of
thereaftrr frum Ume lo t~mr h~ the murtgc?gre.
10. ~h:+t thr rtxxtg.~gur N ill grve immrdial~ nuucr by ma~l tu the murtgagrr uf a~p cunve}arur. tran~frr, ur change ~~f uwnenh~p uf
the premi,e..
11. ~ha~ no waiver i~1 an~ :u~rn:~nt here~n or ~rf ihr uhhgatnm ~rrureYl hrrrh~ ~h.Jl ai .,ny ume Ihere~fter he hclJ w be a Naivrr of
the ~erms hereuf ~x uf the nute .e~ur~d heceb~.
12. fhat ~f the rtx~rtgag~~r Jcfault ~~t any bf•tbO cuvtnant~ ar agrcrment~ cunt~~ned hercin, or in ~id nute, thrn thc mvrtgagee may
perfixm ~he same, arxt all ~~prnJitur~s (~ntldding rrasonaf~l~ :yiWrney'. fers? maJe hy thr m~xtgagee ~n w Juing ~hall Jraw interest at the
rate cet f~th in the nulr SrcureJ hrreby, andshall be ~YpAyable i'mrfldtfiqtel~ anJ w~~hout demanJ by the murtg3gur lo tho murtgagee. and.
tugcther w•ith mterest anJ cu~[ti accrumg thera~r~ shall be securtd.t+y this rrii~itga~e.
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