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2. ~hat. ~n urJrr muri fuU~ to pr.~tc~t thr arcurvry uf ~h~. m.i~i~agr, thr murt~.?gur, iugeihrr with, aixl ~n ~dduiun to. tht rrr~nthl~
p~yment+ unJtr ihr irrm. uf thc nutc ,r.ur~~d hzrrby, un thr fint Jay .~f ra•h m~~nth unul the +aid ~utc i+ fully paiJ. Nill p~y to thr
n?artgagrr the fali.~~~ ~ng .ums:
lai An amuunt ,uffki~nt io pruwiie tlea hul~k~ herruf Nith funJs tu pay ihr ne~~ mung•r~e inw~ance prrm~um it this imtrumrnt and
the nu~r +ecwrd htrrby a~e irtsurcd, ix a munthly char~e lin lieu u( ~ nwrtgage iMU~a~x:e premium) if they are heW by the
ti~rriary uf Huu~~ng u~d U~ban [kvrlupnxnt. :u f~~lluM~:
tll If an~! w luny :4s wid nutr ui evrn d:+tc anJ this inatrun~nt are inaured or are reinsureJ unJtr the provisiuns of the
Nauunal Nuu~in~ Act, a~ amount suf'ficient tu a~tiumulat~ in the hanJs of the halder one (1? month prio~ tu its due Jate tAe
annual mu~tgagr imurartce premium, in ~x.ler to pruvidt +~Kh hulJrr with funds tu pay w:h prcmium to the Se~:rc~ary of
Huwiog and Urban tkvelopmrm puriu~nt to the Natiunal Nuu~~ng Act, a+ amendtd, and rpplicable Regulationc
thereunder; ur
1111 If and so long a+ sa~d note .~i ~ven J~te and this instrument arn c~ld by thr Ser:retary of Huusing anei Urban Uevelopment,
a'ri~onthly rhargr I~n liru ul a m.~rtgage imurance prtmiuml which shall bt in an am.wnt ryual tu uoe-twelfth 11I12) of
une-hali l~.l pr~ .enwm uf the :.v~ragr uuntanJing t?:ilanco due on the nac computed v?Uhout taking intu actiuunl
drtinquencirsur prepayments;
Ibl .4 cum equal to the gruurxl rents, if any, nest dur, plus ~he premiums that will next t+ccome due a~xf payablz oo policies uf fire
srxl othe~ hatanf inaureek.~e ceveciwg tha-iwxtg~grat~rupeuy, plus taxes and a*sessmenb ne~t due un the m~xtgaged property (atl
as r~timated by the rtwrtgagee) lei+ all sums alrrady paid therefor divided by ~he number of munths to elapst before ont munth
p~ior to the dalt Nhen such grounci rents, prtm~ums, taxec, and assessments wi11 become delinyuent, such wrm to be heW by
rtwrtaagce in trust to pay u?id ground rcnts, premiums, taxes, and ~pecial aicc~smrnts: and
1c? All payments menuoned in the tvro preceding subsecUUns of lhis pu:~graph and all payments to be made untier the r?ote stcured
hereb>• ~hall br adJe~f tugether and the aggregate amount thereof shall be paiJ by the mortgagor exh month in a singlc paynxnt
t~~ tx :.ppGed by the mortgagce to the f~~llow~ing itrms in the order set forth:
111 premium charge, under the cuntract of emurance w~th the Secretnry uf Housing and Urban DevelopmrM, or munthly
charge lin I~eu of mcxtgage insuranc~ premiuml, a~ thr casr may he;
1111 gr~wnd rent~. ta~e~, ascessments, fire, and o~hrr hacard ~n+urrnce premiums;
11111 intrrest an the note ucured hereby; a~x1
IIV) amortiz:?tion of the principal of said note.
~ny deficiency ~n the anwunt af ,uch abgregate rm.nthly payment ,hall, unlr.. maJe go.xl hy the murtgagor priur to the due date ~if
the ne~t wch payrtxm. comtitutr an e.•rnt of default unJtr th~~ mortgage. ~~hr m~xtg:~gce may ~ullect a"lrtr charge" nu~ tn ~tcerd twa
tent~ 1=c1 for each ~h~lhu ~SI ? uf ra;h p:?ymrnt more than hfteen 115) day~ in arrrar~ to cover the rxtra e~prme i~vohrd in handliog
Jelinyuent payments.
3. That if the wtal u( the payment. made by the murtga~.~~r unJrr tbt of p~ragraph 2 precrding .hal! eacerJ the am~wn? of the
payment+ xtu:~lly rt»Je M~ the m~~rtgaget. fur gruunJ rent.. taxes and s.ces.~mcnh and imur~ux:r prrmium~, as the ~:+se may tx. ~u~R
excess at the option of tho mortgagee, shall, be credited on wbszquent payments to be made by the mongagor, or refunded to the
mortgagor. If, hoNever, thr nwnthl~ payments maJe b} the murtgagur unJer Ih1 of par~graph 2 preceding ~haQ not he sufficient to pay
grourni rent.. ~a~e, and a~secsments and intiurance premium~. the casr may t?r, when the same.hall t+rcome due anJ payable. thrn the
rtrortgagor ~hall pay tu the mortgager any amoun~ ncressary tu male up the Jcficiency. on cx t?efore the date when payment of wch
grounti rentc, taxe+, ~~sr.~ments, or insurar~r prrmiums tihall hr Jue. If at any teme thr miNtgagur ~ball tender to ~he mortgugrr in
accurdance w•ith the provisions of the oute securcd hrreby, fuU pa~ment of Ihe rntire ir?debtnfness reprecented thercb~, the mortgagee
shall, in computing the amuunt of wch inciebteiine~~. cre.iit to ~he accoum of 1he mongag~x ail payments made unikr the provisians of tal
of parsgraph 2 hereaf which thr mvr[gagee hati nut t*ecume ublig~ted tv pay to the Secretary of Nousing arxi l'rt+an Development and any
balance rrmaining i~ the funds ;~:cumulatc~i under the pro~i,ions af Ihi of said paragra{~h 2. If there shall be a default under am• uf the
provi+iun~ of Ihi~ mortgage. rcyulting ~n a publi~ ~ale uf Ih~ prrmi~cy cuvere~l hrreh~~. ur if the murtgagre acyuirc~ the propertq uthrr~ i~r
aftar uef:~ult, the mortgagre +hall appty. ~t the tima uf thc comntencement uf .uch pn~.erd~ng~ ur at the t~me thr propeny i, uthrrw ice
acquirni. the t+alarxr Ih~n ~r~n~ining in thr fiind~ ac:uniulateJ u:tctec sF.r ~:t p:usgraph ' precaYling a creJit a¢aimt the :+muunt uf
principal Ihen rrma~ning unpa~d under .aiJ notr and ,hall pruprr{y ad~ust :~ny paymrnt. ahich ,h:+(I have been maJr unJrr (ul uf.aid
paragraph. .
fhat he will pap a11 ta~r~, a*~e,~mrnt~. w;~ter rate.. and uther guvrrnm~mal ~x mun~~ipal chargrs. fi~r~, ur impuc~tiun+. fur which
pru~v.iun ha~ nut tkrn maJ~ hrr~inhefurr_ a~d in Jefault ther~Y~f the murlgagr~ ma~ pc~~ the .3me: and that he w~ll prumpdp deln~rr the
ofliciai rcticipt~ thcref~~r t~~ th~ nturtgagrr.
S. ( hat hr will perout. cummi~. ur .ui7er n.~ H~.tr. impaumem, ur drtrriuratiun uf ,a~d propert}~ or ~ny part thereuf: anJ in the r~~ent
uf the failure of the mortgagor tu Acrp che buil~ing~ on ~aiJ prrm~s~s ~nd t6u.e to br rrected un ,aiJ prrmise.. ~x impruremrnt~ Iherran,
in g~wd repair, the rtartg:~gee may make such repaer~ as in iu d~scret+on it m:?y Jecm neties.wry f~x the pn?prr prrsen•rtion therrof, and
the full artwunt of cxh and everq wch payment shall he immediattly due and pay:~Mt. and shat) t+e tiecurrd by the lien of tAis mortgage.
6. Thal he will pay all arxl singular thr co~tt. charges, a~xi expenses, includ~ng reawnable lawyer's fets, anJ costs ot' abstracts of tiUe.
~ncurrctii ur paid at an} timc hy the mortg~gce txYause uf the failure un ~he part uf the rtwrtgagur promptly anJ fully to perform the
agreement. arxi covenantti uf +:uJ prumi..ury nute and this mortgage, rnd ~aid c~xt~. charges_ aixl expentie~ shall k+e immeJiately due and
payaMr and ~hall t?e ~ecureJ b~ ~hr 6rn of this mortgage. ~
7. That he w~I! kerp the ~mprer~rments now exisling or hereafter rrecteel on 1he rtwrlgagnf property. imurrd a. m:~y t+r reywr~l from
time tu umc M~ the murtgagre again.! 1~h~ by hre and uther ha~arJ~. c:aulaties, ar?d c~ntingencies in,urh amuunt, and fur ,uch {+en~xls
may hr rryu~rrd M m.~rtg:~g~r. and N ~II pay pmmpUy, uhen due. an~ premiums on wch insurance for payment of which pnni~iun ha~ not
been made hereirtbcfexe. All insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall
be hel.i by mixtga~re and have attachal thereto lo~ payable clause+ in favor vf anJ in f~xm acceptable to the mortgagee. 1~ e~rnt of luss
he w~ll g~ve immediace notite by ma~l to murtgagre, anJ murtgagee m~y malr pruuf uf lo+s if rwt made prompdy b~ mortgagu~, and each
intiurarke company curtcerorJ hereby aWhurired and Jirected tc~ make payment for cuch I~xs dircctly tu rrxxtgagee instead of to
mortgagor anJ murlxagee ju~ntly. and the imurance procreds. ur •rny part lhrrraf, may be applird h~• m.xtgagee at ~tc option ri~her tu thr
reductn~n uf the ~ndebteJnr+ti herrh~ ,~-~urrd or to ~he resloration or repair .~t the pruperty damageJ. In eti•e~t uf fi~rtclu~ure uf lh~s
mi?rigagr ur uther tr:imFer of letle tu the mortgageJ property in e~tingui~hmcnt the ~rxfebtcvine~~ k~iur~Yl hereM, ~II right, tiUr. and
interec~ ~,f thr mortgagur in and a~ am inwranct policies-i}1en in f~rce ~hall pass to thr purchasrr ur grante~. '
K. ~hat the nwrtgagee m;~~. nt am tirr?e penJing a suit up~m this mortgage. apply to the ccwrt ha~mg junxl~ct~un thrrruf fur ~hr
ap~»ntrarnt uf .e rctir+?rr. an~ tiu:h rourt ~hall forthr.~th appuint a recei.zr of the premisc5 cuvered herch~ all an~i tiingular, i~xtuding all
and ~~ngular the incamr. prufit.. ~,.ur.. and revenues from Khatever source derivrd, each arxl e~ery of which. it heing expre~sly
ondrr.t~xxl. i, herrh~ murtgag~til ~f ,pecifically set fi.rth and de~erihed in tAe granting anJ hat+endum cl;?u~r, hereelf. anJ .ixh recriver
shall havr aN the bruaJ and rffritnr funrt~un+:~nd puuer. m an~Ni~r rn[ru,trJ b~ r~uurl tu a rc~r~~~rr, and.uch appu~ntment ~hall be
maJe h~ .uch a~urt a. an aJm~ucd eyu~1~ :,nd a matter ~~f at~„~lute nght tu ~aiJ murtgagre, and ~~thuut reference to the adc~yuac~• or
~naJequacy uf lhe ~:~lur uf the pruprrt~ murtgaged .x to the wh•rrtt~ ur ~nwicency uf .aiJ rrk~rtgagor or the deferedrnt+. :IRII Ihifl ~u~h
rrnts. preifit+. m~ume, ~..ur~, anJ rrvenur, +h~ll t+e apphrd M• ,u:h rccri~er accurding ta the lien of thi~ ~mirtg~ge arnf 1hr practirr of ~uch
court. In the r~~ent of am Jefauh un the part uf the nx~rtgag~ir hercunder, the mortgagor agrec~ to pa) t~~ thr mortgagee un dem•rnJ as a
reaconable monthly rental for Ihe prem~ceti an amuunt at least ryu~valent to one-twelfth 1 tJ12t of the aggregate of Ihe tNelve monlhly
installme~t+ pa~abtr m thr thrn cutrent yrar plw the acwsl amuunt of the annual tatet, a.~cti~ment~, wattr rates, snd ~nwranct premium~
for ,uch ~~ar nul ii~~ereJ M lhr afixc~aid mon~hly p;?ymrnt..
9_ "I hat lul in the ecrm ~~f any hreach uf thi~ n~cxtg~gr .x Jefault un thr part ~~f the rrw.rtg~gur. ur (h) in thr e~ent lhat an~ uf +aid
wm~ uf m~~ney herain referratf t~~ he nnt promplly and fu~l~ paid with~~u[ drrnanJ ur ~uucr. ur ~r? in the e.ent th3t each and e.en the ?
.Upulau~~n.. agrrrmrnt,. ~unJn~~~n~. anJ :o~enant+ uf ~aiJ nut~ and th~+ mortgrgr, ar~ nut duh. prumptl~. arxi fully perfurm~d: then in
r~thrr ~~r ,~ny ,u~h event..the w~d a~rrgate wm menuuneJ ~n ~;~~d nute Ih~n rrmainig unp~~J. ~ ith intrre~t accrucJ tu that t~me, and all
rrxmc~. +riured herrby'. ,h~l! hecome dur and payahle fcxthN ith. u~ thrrraftrr, at thr ~rpti~~n ~~f ~aid m~xigagee, a~ full~ anJ :ampletel} a~
if all uf thr tia~d wm~ of rtx~nry were ur~g~nall~ .tipulat~J to hr p:ud un wrh ~a~. .m~th~ng ~n ~a~d no~r ur in thi~ nw~rtgagr tu thr amtrary
rti>twnh.t.~nding: anJ thertu{xm ur thrrcafter, at the ~~puun uf ~aid murtgagrr, µithuut nuuic ur demand. .u~t at lau ~ir in rywt~. may bt
pn?,rcutrJ if ell rrn~ne~. ,rcure.f hrrrhy- had mawrrJ priur t~~ it, inctrtutiun. (Tie rtx~r~gagce ma~ f.xrclu.c lh~. rrH~rtgd~;l'. Jl t~. the
anx~uot .u declareJ due anJ pa~:iblr. and the ~:uJ premi~~ chall h~ v~ld ti~ ~ati~fy enJ pay ihr +:~rnr a+geiher w~th cu~t., e~pcncet. anJ
alluw.~n~~~. In cak uf p.ut~aF-{M ~lu,urr ~~f th~~ mottg:ige. the murtg~geJ prrm~.r, .haN br ..~Id .uhjcYt tu thr cunl~nu~ng lirn i~f this
rrkutKnge f~~r thr enu,unl.uf the~~~bi n~~t th~n .lue and unpaiJ. I~ .u~h :a,e thr pru~i.ii~m uf th~. p:~r.lgraph ma) :~g~in tx a~a~IcJ of
therraftrr frum Ume t~~ I~Yt~ by the mur4gager.
I11. ( fiat ihr nH~ci~~tsr w itl yne ~mmediatr n~~dc~ hy maii tu the «w~rigsgce n( an~ c~mvey:~n~r, tramler. ur cbangr ~~f »w nenhip af
Ihe prrmnr,. r.; ~ .
t 1- fhat n~~ w.~~.rr ~~f an~cai~~enant herein pr uf tht ~~bl~gativn .~tiurrd hcrrh~ .hall al .~ny timc thrreaflrr t+e held to F,r a v~ai~ar uf
the term. hrre:~f ur ~~f thr n«tr ~etureti hereby.
t:. 1 hat i! ~hr murtga~t~ir drfaull in at~y Af the eu~~nants or agrermem~ cunta~~rd hrrein, ~x in wid n~qe, then the murtgagce may
perform the +ame. anJ all r~prnJiturr. ~~ncluJmg reas~maMe auurney', fce.? m.,dr h~ thr m~~rtg~grr in w Joing ~hall dr:~w intert~l at thc
rate ut fcxth in the r?ute.rcured herehy, ;~nd ~hall be repayabfe immrJ~atcly anJ wvthuul JrmanJ by the rrwrtg~gur to Ihe rtwrtgagee, anJ.
tugether N ith interest anJ co~t` aicru~ng thereun. shal) be secureei t+y this mur~gage. '
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