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2. lhal, in ~xdt~ mure ILllq to pru~nt the+ecunty uf thi, murtgagr, thr muitgag~~r. Ius~lhrr wuh, aihl in adJwun tu. Ihr nw~nthly ~
payments under ~he terms uf ~he nutr .~urn1 harehy, un ihr firs~ day ut t:u:h munth unul ~hr .aid rn~tr ~s fully pa~J, w~ll pay w ~ht
mo~tg:?gee thr folluwing .ums:
la) An amount sufficiem to provide thc h~Wer hercuf with funJ. ai pay the nrxt mor~gage inxurance prrmium if tfiic instrurt~ent and
the note secured hereby are imureJ, or a monthly charge (in lieu of a mortgsgt insurance premiumi if they art htld by tht
Sec~e~ary of Hausing and U~ban Devel~~pment, as fulbws:
11) If and so long ac ~aid nute of even dute arni this ~nstrumenl are insured or arc reinwred unJer the provisiun~ of lhe
Natiot?ai Hausing Act, an amuunt sufficient to accumulate in the haocis d ehe holJer one (1! munth pnor to iudue date the
annuai mortgage incurance premium, in wJer w pruviJe such holJrr with fun~is lu pay >uch premium to the Secrctary o(
Housing and Urt+an Ikvelopment pursuant t~~ the Nauonal Hous~ng Ac~, as ame~xled, arxi applicable Regulations
thercunder; or
(111 If and so long a~ wid note of evcn datc and this instrument arc held by Ihe Secrctary of Housing antl U~ban Development,
a monthly ch~ige lin liru uf a murtg~g~ ~nsurance prrmium) which shall be in an artxwnt rqual tu one-twelflh 111121 of
one-half 11:1 per ce~tum of the average uu4,terxling Dalance duc un the note cumpute~f withuut taking into axount
d~iinyuencieti or prepayments; "
!b) A sum equal to the gruu~xi rrnts, if any, ne~t due, plus thr premiums that will next became due and payable on policies of 6re
and other hazard insurance covering the moifgaged p?Sptrty, plus tues and assessments next due un the mortgagecl properry (all
as euimated by the martgagee) las aU sums already paid therefor ciividai by the numbe~ o( munths to dapsr before one month
prior to the datt when such ground rents. prrm~ums, taxes, and assessments will become delinquent, such sums to Ix held by
mor~dagee io trust tu pay said ground rents, premiums, taxes, and special asscssmcna; anJ
(c) All payments mcncioned in the two proceding subsections of this paragrapl~ and all paymeats to be made under the note secured
hcreby shall be addat together and the aggregate amount thereof shall be paid by the mortgagor ~ach munth in a single payment
[u be applied by the mortgagee ta the following itzms in the order xt forth:
(11 prrmium chargea under tAr comract of inw~ance with the Secretary of Housing and Urt+an Ikvelopment, or monthly
charge (in lieu of mortgage insurance premium), a~ the case may be;
(111 ground rent~, taxes, acsessments, fire, and other hazard insurance premiums;
(111) intereu on the nWe xcurtd hzreby; and
(IV1 amortiration of the principal of said note.
Any Jefx~rrn;y ~n th~ anwunt of such aggregat~ munthly psyment shall, unlr~ made goud by the mungagur priur tu thr Jue Jate of
the next wch paymCnt, cun+titutr an event of default unJer Ihi~ mor~gagr. Thr mortgagee may collrrt °latr charge" not to exceed two
cents 12c1 for each ~killar IS11 of r;x,h paymrnt mure than fiftenn 1151 Jays in arrean to rover thr ettra rxprnsr invulvetl in hanJling
delinqurnt payments.
3. That if th~ tutal uf the payments m:+de by the mungagur unJer Ibl of paragraph 2 prcticding +hali ttcceJ the ~m~wn~ uf thc
payments acwally maJe by the mortgagre, GN grou~d rents. ta~es anJ a~u~ments and insurance premiums, a.~ the ~ase may be, sucF.
eaccess at the option of the mortgagee, shall, be credited on subsequent payments to be made by the mortgagor. or rcfundod to the
murtgagor. If, how~ever, the munthly paymrnn maJe by thr murtgagor under !b) u( par~graph 2 pr~zeding shall not be wfficient w pay
grounJ rents, taxes a~xl a~~siment~ and insurance prcmiums, as thr rase may be, whe~ the samr shall t?rcume due anJ payable, then the
mortgxgor shal) pay tu thr murtg:~gee any amuunt necrUary ta male up the defk:iency, on cx t+rfore thz date when payment of wch
gruund rents, ta+ces, a~~r+xnt~, or insura?xe premium~ shsll br due. If at any time ~he mungagur shall tender tu the mortgagee io
xconfance with the provisions of thz nute ~r~ured hereby, full payment of the entire irxlebterincyc repr~enteJ tnereby, the mu~tgagce
shall, in computing the amuunt of such irniebtc~ine~,, cre~fit"to the accuunt of [Ae mortgagw all paymrnts made urnler the provisiw~s of 1~~)
of paragraph 2 hereof which the mortgagee has nW become obtig;?tni to pay tu the Secr~tary of Housing and Urban Development and any
balancr remaining in thr fund, accumul~tctii urxler thr pruvi.ium of Ib~ of ~aid paragraph 2. I~ therr ~hall t+e ~ Jefault urnler any of ~he
pra~isions of this murtgage, rnulting in a public sale of thr pr~mise~ co.•ered hrrchy. or if the mortg~gee scquires the pr~perty otherwise
afttr Jrfauli, the murtgagrr ,hall npply, at the time of the rummencement of wch pnxer.lingti ax ai thc time the propert~ is ~~therwisr
- ar.quireJ, the balarxe ~hen remaining in the fund. accumul;?tetii under fb? uf par:~graph 2 prrte~iing a+ a crrJit against the amuuot of
principal then rrmaining unpa~d under ~aiJ note und tihxll pruprrlq sJjust any paymenls which sha!! have t+rrn made under lu) uf ,aid
paragraph.
3. That he will pay all laxes, assessment., water rates. and other guvernmental or mun~cipal charges, hne~, ~x imFx~s~tiom, fur Nhich
provi~iun ha, not txen made hercint+rfure, and in default tAcrcuf thr murtgagee may pay the s:~mr: and thal he ~ill prompU~ delivrr 1he
official receipt~ th~ref.~r W the mortgagec.
S. That he will perm~~. cummit, or tiufTer ni. Ma.tr. ~mpairmrnt. ur drteri~~rat~on uf wid properry ur any part thrrc~.if; anJ ~n the evrnt
of the failure uf ~he murtgagur tu keep thr huildings un wiJ premius ~nd thuse to be errctrd un saiJ premi~s, ur impruvrmrnts thereon.
in gaxl repair, the mortgager m~y mal~~ such repain :?s in iu Jiscretiun it may d~em nec~sarp f~x the pn~r preservation thereoL and
the full artwunt of rach and every wch payment sh~ll I+r immeatiately due and payrble, and +hall be secur~~f by the tien of this morlg:~e.
6. That he wi11 pay atl and singular the costs, chargex. ~nd exprnsec, including reasonable lawyer's fees, and costs of abstracts of title,
incurred or paid at any time by the rtlortgagee because of the failure on the pan d the mortgagor prumptly and fully to perform the
agrcemenh and covenanb of wiJ promi~~uy nute and th„ mortgage. and said cosn, charges, anJ zxprnses shall Mr immeJiatNy dur anJ
payable and chall be secureJ bp the iirn uf thic murtgage.
7. That he w•ill keep the impruvemenu now existing or hereafter ertctod on the rtwrtgagr~! pruperty, imured ati may tx rtyuir~Y1 from
t~me to time hy the rtx~rtgager ag:.inst loss by fire and other haiuds, cuuiat~es, and contingencie~ in such am.wnts snd for wch prriuals as
may be rrquirrJ by mortgager. and will Pay promptly, when due, any premiums on sucA insurancr for paymrnt of which p~uvi~ion has not
been made horcinbefore. All insurance shall be carriod in companies approved by mortgagee and the policies and renewals thereof shall
be hr1J by morigagee and have attacherl thereto Icx. payable clauses in favur of :~nd in fixm accrptable to the rtxirtgagee. In event of loss
he w ill give ~mrttediate not~ce by mail W mortgagre, anJ murlgagee may maAe pr~xif uf loas ~f rx~t madr promptly hy murtgegor, ar?d each
~nwrance company concerntd is hereby authonzed anJ directeJ tu makr payment fur such Iv» d~recUy tu mortgagte in~trxd of to
murtgagor and mcxtgaEee jointly. and ~he insurance proceeJ~, or any part thereof, may t+e appi~rd by mortgagee at its option either lo the
reductiun uf th~ irxiebteeiness hereby ~ecureJ or tu the re1t~N:~tiun ix repair of' the promrty damaged. In event uf f~~recknure of thit
mortgage or other transfer of utle to the mortgageJ pruperty ~n e~tingui~t?ment i~f thr indebtealn~s xtiurrJ herehy, :~II right. ~itlr, and
interect ~~f the murlgagor in and t~~ any insurance pulicies then in fixce shall pac, to th~ purcha,cr or granter.
R. That the rtxirtgagee may, at any timt penJing ~ cuit upon Ihis mortgage, apply to the court haviag jun~J~ctiun lhtreof fur lhe
appumtment vf a rrceiver. anJ .uch court shall forthwi~h app.nnt a re~eiver of the prem~xs covera) hereby all arxl +ingul~r. ~ncluJing ~II
arxl ~ingular the ~ncomr. profit., ~s~ues, and revenurs Gum whate~er, wurce denveci. e~ch atx! every uf whirh. ~t being exprc~cly
under+t~wai. i. herehy mur~gageYl ac if cpcefically stt forth :~nd Jescribed in !he granting and hat~endum clau~r~ hera~f, anJ ~uch recriver
thall have all Ihr bru:?J ~nd effr~t~ve furect~um and pu..er, ~n an~ w i~r zntru.trJ by a~uurt to a rece~ver. and ,uch appuintmen~ tihall t+e
made by such ~ourt a+ an ~dmutrd rywt~ anJ matter of ahx~lutr right tu ~aiJ rrkxtgager. and w ith.~ut referrrxe to the adequacy ur
~naJequa~y i?f the valu< <~f the pru~xrty mort~ageJ ur tu ~hr x~lr•ency or ~mulveocy of said mortgagor ur Ihe Jefend~ntc, a~x1 that ~uch
r~nts, profits. incume, ~swrs, anJ revenurs ~hsll t+e appl~rJ hy ,uch receivrr accordiog t~~ R?e I~en of thi+ rtx~rtgage 3rxi the practice of wch
court. In the event of any default un the part uf ~he nx~rtgagur hrrrunJer. the mungagur .igrces to p~y to the mortgagee un Jemarx! as a
reaconable monthly rrntat for Ihe premises an :~muunt at least equivalrnt to une-twrlfth 11/121 of the aggregate of the tv?•tlvc nwmhly
~nctallments payat+le m the then current yrar plus the ac~ual artwunt of the annual t:izes. a~sessmtnts water ~ates. and ~nsurance premiums
for cuch yrar nW covered by thr af~xrsaid munthly~ payment..
9. That Ia) in the even~ uf any hreach of thn m~x~gage ur defauh un Ihe pari uf Ihe murtgagu~. ur ~h) in ~he event ~hat any of tiaid
wm~ ~~f munt~ hrrein referreJ to t~ not promptl~• and full} paid withuul JemanJ ~•r nutice. ur 1~1 ~n ihr r~rnt th:+t each an~i even the
cUpulat~un., agrrement.. :und~t~un~. arul covenantc of ,aiJ ncHr anJ this murtgage. arc not duly. prumptly, ~nJ tully prrfi~rmrJ; lhen ~n
CdliCf U! :lOy 1!!l;FI CYCDI. 1F)t ~:Ill~ 4$$7CZ(dIC 511fI1 f11Ct1UUOC~I ~n ~a~a1 ~ute then rema~n~g unpa~d. w~th mtcrr.t a~crurd to that t~rr~r. arxl :+II
m~ney~ ucurt~i hrreby, shall t+ecume dur anJ payablr Gxthw uh, ur thrrraftrr. at 1h< <~.~ion of ,aiJ niurtgager. 3~ t~ully anJ cumplr~el~ as
if all of thr wiJ wm, of rrnmey werc urigmall> .t~pul:UCd ta t+e paid un wch Jay. am thing ~n ,~~d nuic ur ~n the~ rtkttlgagr tu Iht contraty
rw~NUh~t~nding: and iherrupun or thrreafter. ai ihe optiun of ~aid nx~rigagee. Nithu~rt nuucr or drmand. ~wl 'aI I:fw ~.r m rqu~q, may t+e
pnwr~WeJ ati if :~11 rtwnr~s xtured hrreh~ haJ maturrai priar to it. imtituuun. The murtgagee ma~ forr~lu.e Ihi. nwrtgagr, a~ to the
3muunt ~u JcclareJ due and payable. and ~hr w~J prrm~.c..h:~lt Mr wIJ tu .at~.fy :~nJ p:fy thr wme tugrthrr w~th c~n~~. exprn~r+. and
a!k>uanc~~. In wx uf p~rhal fixr~lu.ure uf th~. murtgage. th~ murtgaged prem~.r, ~hall he ~uld wh~ect tu thr wnt~nuing I~e~ uf th~s
rtwrtgagr fur the amuum .~t~ the drht nut ~hrn Jur anJ unpa~J. In wch ca~r thr pm.~.ium uf thi~ per~g~aph m:?~ agam t+e ave~led of
therrafttr fr~~m t~n?e t~~ Umr M the ~urtgager. .
10. fh:~1 th~ nw~rtga~M~ll gne fmmr~iate nuucr hy mal tu th~ murtgag~e ut .~n~ ~ume~arkr. tramfer, ~x chan~e uf u..nenh~p of
thc prem„c, , ' ,
I 1. Ihal n~~ wa~~cA •x
' I1'y L'al~fl:N1l hCiYlO 0I U( thr i~bl~gnt~un ~ctiucrJ hrreh~ ,hal! at am i~mr therrafter he he1J to t+r a v?a~ver uf
the termc hcreof ~x of ~hc nc~se}artd }rt~by.' •
12. lhat if thr nhxlgagnr ~elault ~p am o~tfie Wveoant. ~.r .?~erermrnt. c„ntainrJ hrrein. ix in ~~J ~.rtr. then the m.xtgagre may
perfurm thr aame. ~nJ ~II rlpenJuure, t~aclud~ng reax~nat+le atturncy'. frr.i m..Jr b~ thr m~Ktg~gee in w Jo~ng ~hall draw ~ntcrest at the
rrie ut fixlh in the rx,te ~rcured hereby. anJ shatl be reQayaAlt ~mAtr.f~ateh and ~ ithuw dem~nJ by the mortgagor to the trwrtgagrt. anJ.
t~rgrther w~th mterest and c.nt~ :kcrwng therton~shall t+e sectued b~ thi~ m~xtK~R~
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