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fha~. ~n ur~er nwrt fully w prut~~t ~hr at~unq~ ui th~~ nw~tgag~. ~hr murtgagur. ~ugttArr wnh. anJ in add~Uan tu. ihr nr~nthl~
p~>mrnt~ un~rr thr t~~nz. uf ~hr nutc ,ctiur~yi hrrrhy, .m lhr tir~t ~laf ~~f ~~h munth until thr .~id nvtt i~ fullp paid, aill pay W Ihe
nk~rig:~ger ~h~ l~~lluH~ng sum~:
la) An anwunt ~ufta:~ent tu p~uv~de the huldt~ hereui w~th CunJ. tu pry tht nt~t rtwrtg~gr inwr•rnct p~emium it thic imtrumrnt enJ
the nute secured he~rby arc ~~,urc~, ~x a munthly chargc 1~n I~ru uf a murtgage ~nwra~xt prrrt~~um) if thcy :ur held by thc
~ccrctary of liuu»ng :~nJ Urban Drvrlopmrnt, a+ f~~llows:
111 If and su lung as ~aiJ nute .~f r~en Jate and this ~mtrument are in~u~ti! or are ~tin~urrd urnier the erovi~iuns uf the
Natiunal Huu~~ng Act, an amuunt su~aent to aa;umulute ~n the handi u! the ?wWer unr ( U munth prior w its due date the
annual murtgage in~u~an~:r prrmium. in ~xJer ~o provide .uch hulJer with fundti to pay .uch prem~um tu the ~,retary uf
Housing and Urban Ikvelopmtnt pur.uant tu thr IVatiunal Huu>ing A~4 a~ amroJed, aix! applkablt Rrgul~lions
~herrunJer; ar
ft11 If aaJ w long a. caid note of even Jate arxl Ihi+ ~nstrument are heW by ~he Secretary of Housing arni Urt+:?n Uevclopme~t,
a monthly chargr ~in liru of a mcxtgagr inwra~cr prrm~uml Nhrch .hall t+r in an snx~unl rqual w onr-tNelfth Illl~) of
one-h:+lf l' z) per ~rntum of the avarage uuhwad~ng balance Jur un thr notr computcrl withuut taAing into a~ount
delinquencir, or prepa>•mrn~s;
tbl A.um ryual to ~he grc~u:xi renu, if any, next due, plu~ the premiums that will nrxl become due and payaDle on polkies ot firc
anJ oth~r ha~uLinauraw„e cu~e[ing the [mrtY:~t1 p[.uptrty, plus taxe. anJ as~essment, aeal due on the m~ulgagzd propzrty (all
a~ r~timat~d by the rtwrtgagea) Irs+ all sums alrtaJy puid thercfor divided by Ihe numt+er of munths to elapse t+efore one munth
prior to the date when .uch ground rtnts, prem~ums, taxes, and assessments will becomr delinyuent, such ~ums to be field by
murtgagee in t~ust to ~+ay ,aid ground reots, premiums, taxes, and special as~e~+mrnts; and
Ic) All payments menlioned in the tv?~ proceding subscctiuns of this paragraph and all payments to he made under tho note secured
hereby .hall t+~ added togethe~ anJ the aggregate amount thereof shall be paid by the mortgagor rach month in ~,ingle pay~xnt
tu t+e appli~d by tht m~rtgagee tu ~he follow ing itenn i~ the order stt forth:
I1) premium ~hargr+ under the contract of insur~nce with the Secrctary of Housing and Urban ikvelopment, ot monthly
charge 1?n liru of m~xtgago insurance premiuml, as the eax may 1?e;
(IU grounJ rent~, taxe~, assruments, fire, and othrr ha~ard imurance premiums;
(1111 interest un ~he note securevl hereby; a~xi
l1 V 1 amortization of the principal uf said note.
An~• drticirncy in the anwunt uf such ap,Kreg~te m~inthly payment ~halt, untr„ made gMxl bq the murtg:igur priur to ihr dur date of
the nezt ,uch payrrmn~. cuo.~itute an event uf Jtfault urnir~ ~hiti murtXage. fhe murtg~gee may collect a'~late charge° not to exceed two
~ents 13c1 fur each dullar IS11 oF r:xh payment more than fiftern 1151 Ja~s in arrearc ~o cover the extr3 expen.e in~•ulvrd in handling
delinyurnt paymrnt+.
Th:~! if 1hr tuta! .~f thr pa~~menls mrdr by ~he rt?ungagur undrr ~h1 of parugraph 2 prrceding ~hall ruerd thr amoum of the
paymrnts actu:tUy made by the murtg:tgee, fcx ground rentx, ta~e, anJ a~.r~+ment. ~nJ insurance prrmium., a~ thr ~ax may br, wcF.
excess at the option of the mortgagce, shall, be credited on suMequent payments to be made by the mortgagor, or refunded to the
mortgagur. It, ho++c~•r~, thr munthly psymems m:K1~ by thc mortgagor undrr Ib) of paragraph 2 prrcrJing ~hall not bc wfficient to pay
ground rcnt~, ta~es anJ a„e~,mrnt~ a~d insur~nce premium~. ac the ca,e may t+e. Nhen the same ~hall I+ecome due arxf payaMe, then the
martgagor shall pay tu the mortgagec anp artx~unt ncte+~an tu make up the drficienry. un ~x t?~fore the Jate when paymrnt ~~f such
ground renh. Iax~~, :?+se~+mcnt,, or imurance premiums sh.~ll be Jur. lf at any ume the mixtgago~ ~hall tenJer w the mortgagre in
aeeonlance with ~he provi~iunt uf the nuce sra:urrd hereby, full payment of the entire indebtc~lncys rep~~seneeJ thereby, the rtx~rtgagze
shall, in computing thr amc~um of such indeMrJne.., crrciit to the a~count af Ihe mortgag~x :?11 paymenn made unJer the pri~visions of lal
uf paragrapb 2 hercof Nhich the murtg~gee hac nut becumr ubligatrci tu pa~ to the Sctiretary of Housing ~rxi l'rban•[kvtlopment and any
t~alance remaining in the funJ. :ricumulated urnier the pruvi.ii~ns uf IhJ of ~aid paragraph 2. If thrre chall he a default urxler anp of the
provisionc uf thi. m~xtgage, r~~cuding in a puMir ,:~Ic uf th~ premi~e+ cu~•rr~Yl hrrrby. or if the morlgagee aryu~r~ the pruper~y oihrrN ise
after Jefault, the murtgagee +hall ~pph, at the lime of ~he cammrncemrnt uf .u~h proceeding~ or at ~he time the proprrty ~t othrrH ic~
xquirrJ, the D:1I:~Olt' thrn rtmaining in thr tund. accumulat~~al under ib~ uf paragtaph 2 prec~tifing a+ a credit ag~imt the :+muunt of
principal th~n remaining unpaiJ unJer ~~d ru~te and ahaN Qruperly adju~t any payments whi~h shall bave hern maJe unJer lu1 of tiaid
paragraph.
J. rhat he ..ill pa~ :III l:lxt'~, :i»e~,mrnh. N:iter rale.. anJ u~her guvernmrntal ur mumcipsl ch:~rge., fin~., or im~xn~uuna, for uh~ch
pruvisiun ha~ not t+een madr hereint+rFure. and in default Iherruf thr murtg~gee ma} pay thr »me: and th~t he Nill prumpUy deli~er the
official rctieipt+ therefor to thr murtgagee.
S. -That he will prrmit. cummit, ur +ufl~er no ~a,te, impairment, ur drteriur~tiun uf.:wid propert~ ur any parl lhercY~f; arxi in thr r~ent
of the failurt uf the mortgagor u~ keep tht building+ on ~aed p?rmi.r~ ~nJ thu,r to hr rr~-ctrJ un ~a~d prcmi,e~, ur improvrmtnt. thrrcun.
in g~wd repair. lAe rtx~rtgagee ma} male ~uch repairti as in ~ts Jiscretion it may drem n~x~ary fur the propr.r preser~•atiun tttereof, and
the full artwunt of each and evrry .uch paymrnt ~h:,ll t~e immc~liately ~ue :?nd pa3 able. and ~hall he xtiur~l by Ihe lien of thi~ mortgage_
6. That he Kilt pay al) anJ ~ingular thr costs, rhargc~c. and ex~nsrs, irx:loding rea~onxble lav?yer'.t fees, anJ costs of aMtracts of tiUr.
incurred ur paid at any Ume by thr mortg~grr bc~au+r uf thr failure on the part uf the rtx?rtgagor prumpdy and fully to perform the
agreemenh ~nJ cuvenant, uf wid promi.wry nutr :uid thi~ mortgagt, and ,aid cusu, chargr+, and e~pense~ ,hall t?e immediatrly~ Jur and
payahlr anJ ~half t~ seCUrrd by the lien uf thic mortgage.
7. fhal hr Nill krrp the improvemrnts nuw rxisting or hereafter erected on thr mortg~ged pruprrty, inwrrd ac may hr reyuirctii fram
time t« time by the nwrtgag~r :~gain~t Icn~ by fire anJ uther hatard~, ca~ulaties, and cuntingeix:ie~ in such artx~unn anJ fi~r w~h prr~u~+ a~
maq t+e rryuire~f by morigagee, :~nJ K i!1 p~y prumpUy, xhrn Ju~. anp premiumc on such inwrance fcx peyment of which pru~ i,iun ha~ not
been made hereinbefor~. All insurance shall be carried in companies approved by mortgagee and the policies a~xi renewals thereof shall
be held by mortgagee and have atta:hed Ihertto loss payable clauses in favor of and in f~xm acceptahte to the nwrtgagrr. In rvem of los~
he w itl give immrd~ate noticr by mail tu mortg:~rr, anJ murtgagee may mr?e pr~~f uf lu,s if rwt rtwdr promptly by murtgagur. arxi rach
inwrance company concernrd ~t hrreby authorizeJ and Jir~lteJ tu m:~ke paymr~t fiu such I~xc directly tu murlgagee in.tead uf tu
rtwrtgagor ~nd mixlg:~ger juintl}, anJ the ~murancr pntiecd~. ar any part ther~t~f. may t+e applied hY rtx~rtgagre at it~ uption either tu thr
~du.-tiun uf thr indeblrJne,ti hrrehy securtd or ~o Ihe rrsloretion or repair uf the pruperty Jamagrd. In rvrnt uf foreclowrr of this
rtwrtgage ur othcr trsmtrr of titlr tu Ihe mortgage~J pn~rty in extingui~hmrnt uf the inJehtrdnes~ ~urrd hcrrhy. aU nghl. title. anJ
mterr,t uf the murtgagur in anJ to ~ny insurance policies then ~n fixce ,hall pa+~ to the purchaser cx grantee.
R. That the mortgegre may, a! any lime ~nd~ng a cuit upon ihis rru~rtga~;e, appfy to tht Cuurt having jurixlKUUn there~~f fur the
ap~~~mmrnt uf a r~eiver, and ,uch ~ourt shall forthv?ith :?ppuint a rueivtr uf the prem~seti wvereJ hereby all anJ ~ingular, in:ludmg all
arxi ~ingular the ~ncume, prufit., i~.uea. snd rr~~enuc~ frnm xhate~er ~urce deri~ed, rach anci everp c?f which. it F+ee~g expre*Sly
uredrr.tikx}, i~ hrrrhy morlgugrJ if,~~fi~~Uy crt forth anJ dr.cntktil ~n the granting anJ habendum cl~u~e. hereu(. anJ ,uch r~zeiver
.hatt havr all thr hruad and rffrcthe functiun. and puwrr. ~n .~mw nr rntru.trJ hy a cuurt to a recehrr, and .uch ap{+.nntm~nt .hall i+e
maJr hy ~uch court ac an aJmittrd ~~yu~t~ and a maltrr uf ahx~lutr nght t~~.:~id nwrtgager. and µrthuut «frrerke tu the ~Jryuar~ ~~r
~nadeyuacy of ~hr value uf the pruperh' murtgageJ .x tu the x~l~enty ur ~n,uhency uf .a~J rtx~rtgagor ur the JefenJrnt.. anJ Ihat .uch
rentti. pru~its, incumr, i~,ur.. and revrm~r. ,hall he •rpplied M~u~h rrrri~rr :~c.urding tu the hen of thia murtgage anJ the praciice uf ~urh
caurt. In the ~vent uf an~ default un the parl ~~f the rm~rtgagur her~under. the m.~rtbagur ~grcc~r to pay tu the mor~g~grr u~ demanJ as a
reasonable monthly rental for the prem~.e~ an ~mount at least equ~valrnt to one-twelflh I 11121 of the aggregate af Ihe twrlvr mnnthly
inst~llments payable in the thrn currcnt year plu~ thr ~ctual amuunt uf the annual ta~eti, a.~e*,menb, w~ter ratrs, and imurance premium+
fur,uch yrar nut coverrJ by thr afure.a~d munthl~~ p~}mrnt,.
9. 7'hat Ia/ in ihe event ~~f :?ny breach uf thi~ mixtga~.e i~r default un thc part ~~f ihe nwirtgagur. ix (h) in thr e~ent that :~m of ca~d
sum. uf muney herein refrrrr.l t~~ hr nnt prompUy and (ullp pa~J whhuut drmand ur nut~cr. ur ) ~n the r~~nt fhat rach and r~er~ the
.upulatii~n.. agrremrnh. cunduu~m. a~d wvenant, uC w~d nwe and thi, murtgagr. are nut July, prumpNy, arxi fully prrt~.rmcd; ihrn in
eithrr ur :,n~ +uch evrnt. the .a~d a~regare ~um mrmiuneJ in ~aid notr Ihrn rema~ni~t unpa~d. ~ ~1h imrrr.t ac~wr~l u~ that umc. and ::II
tnunr„ ,ccured herrhy, ,h:~il hrc~~me dur anJ payahlr furth~ ith. ur therraher. s1 thr ~rp?iun af ~a~d mixtgag~c, a~ fu~h .?nJ :umplrtrh a+
~f all of th~ ~:?id wm. of nxiney wrre ~~ng~n.~ltc .UpulatcJ tu hr paid un ,urh Jay. an} thirtg m..~~J n~~ic ~~r ~n th~ti nx~rtg~gr t~~ ihc ramr.irr~
nutwnh~t:~nJing: and Ihereupun .~r lhcreat~er. al ~he ~~~iun uf ~a~J rtwn~ager, Nuhuw n~~urr ur Jrmand. w~t at I:~w ur in eyu~ly. ma) hr
pro~ecute~i a. if alt rtx~nty> >tcurctil hrrrM haJ matured prii+r tu it~ in.titut;~~n. Thr murtbsger m~~ fure~lu.e Ih~~ rt?urtg:~ge. a. tu the
artx~unt w J~clxreJ Jut :~nd pa~ahlr. and [hr ~aid premi~r~ .hell h~ v~IJ to ~:~t~.f} anJ pap thr vrnt lugethrr w~th c~~+t.. riprnsec. and
elluwancr~. In ~ax u~ perUal fureClu~u ~ Qf_~ i~ m~xtg:~~;r, Ihr murtgagrd prem~,e~ ,h.Jl he .uld .uh~~tit t~~ ihe-cont~nuing lien uf this
rrx~r~~i~~~`tke~ainounf of~~hc cit~+1 ~ t~ dur .~nJ unpaiJ. In .u~h ca.r th~ pn,~~.~~~n. i~f thn par~graph ma~ a~a~n he a~:ulcJ uf
thrre:dier frum tim~ri5't3ml~l+q-tbe murtgagee.
~3i~C~EMNDftaaj~e 1NiII1~.jp~Madiate nuuir h~ mail tu thr m~,rtgagcr ~•f .~nj iun~ryar.ce. tran~Ce~. ~~r ch:~nge uf ownrnhip uf
the s. . cij;'~`"~T ~ sK +:~.w•;"j.
y~~~+trtrww~verof•any~~re~nt ~r4Y!!q uf thr uhl~g~t~un ,crured he?rM .hall .~t an~ uma Ihrreaftrr br ba1J Iu hr a N:i~vrr uf
thr Icrms ercuf ex of Ihe n.itr ,e.ureJ herrhy.
12. i hat d the nx~rlgagur Jrf:~ult ~n an~ .~f Ihr :~~~rnanh ~~r ,~~rrrmrnt. i~mt.i~nrd htrrin. iN ~n .aiJ nut~. then the mixtgagrr ma~
ptrform thr ~artte, nnJ all c~prnJrturcy ~m:luJin~t rr.t.~mshlr ntt~~rnry'. irc,? m~de h~ ~he m~.rt~tagee in u~ J~~ing ~haU JraM intere~t at the
rate ut forth in the rwt~ ucureJ hereh}, and .hall t+e rrpayahlr ~mmed~ately anJ N ithuut JemanJ hy thr rrwrtgagur to lhe rtx~rtgager. and.
tugether w~th interc~st anJ antc ;xcruin~ thereon. thall tx .ecureJ hy ~hi. m~xtgagr.
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