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2. 'Ihat, in Ufllif Ilk?fC IUII) !~i prutr~l tht ~t~ur~ly ul Ihn mu~~g~,ge, t~i mu~tgag~,r, tugr~hrr w~th, a~wl in a~IdiUun tu, Ihr m~~nihl~
paymrnt+ under tAe ~erm. uf thr nuir .rcurtal hercby. .?n th~ fin1 Jay ol' Farh munth unul Ihe w~J n~ur fuUy pa~d. N•ill pay t:i thr
m~xtg:yjrr ~h~ tulluw~ng +un?.
tal An amuunt wffirirn~ tu proviJr the hulder hercuf w~th funJ. tu pay the nezt mortgage inw~unce p~em~um if thi~ in~trument and
the ni~tr ucured hercby are ~mureJ, ex a m~~nthly cha~gt lin litu of a mongaYt ~murarn,e prrmiuml il they are hrW by thr
tiecrctary of Huu~ing and l~~han [kvelopmr~t, a+ folluws:
111 If and cx~ iung a~ .aid nutt of e~•rn date arxi this ~mtrurt?rM are insured ~x nre reinsured undrr the provisium of Ihe
Natianal H~~using Act, an amount wificirni to uccumulate in ~he hanJs of the holder une 111 mun~h prior to its due date the
annual rmxtgagr inwranct premium, m urder to pruviJr .u~:h h~~IJer with fund. ta pay +uch premium to ~hr Secretary of
Huus~ng anJ Urhan IhvN~{+mrnt punu~nt tu the Natiunal Nuus~ng Acl. a~ amtnJeJ, a~xl spplicable Regulat~uns
thareundtr; ix
IIU If ~nd ~ long a~ .:+id nu~e of rvcn datr anJ ~hi~ instrumrnt are held by the Srcreta~y of Hou.ing a~xi Urban [kvelopment,
a rtx~nthly ch:+rge ~~n liru of ~ murtgagr imurance Fxemium) which ~hall t+e ~n an amuunt ryual la onr-twtlfth 1U121 ~~f
une-h~lf (ti~? per cenwm of the a~erage uuul:?rxfing balancr due un the nute cumputed with~ut taking into aocuunt
dzlinqurncie+ or prepayments:
Ib) A sum tyual to the gruurxl rtnts, if any, nrx~ due, plus the premiums that will next become due and payable on policies of fire
arn1 uther hasard ia~urarn:r cuve~ing thr nwrtgageJ pru~xrty, plus taxes and atsessments nex~ due un the m~xtgaged properry lall
as esUmattd by the rtwrtgagrel less all sums alreaJy paid therefor divided by the number of months to tlap~e before one month
prior to the datt when such grourKi rents, premwm~, taxes, and assessments v?•ill become delinyuent, such wm~ to t+e hrW by
mordagee in trust ~o pay said g~ound rents, premiums, taxes, and special assessments; and
lcl All payments mentiuned in the tw~~ preceding subsections of this paragraph and all paymen~c to tx made unde~ the nole securrd
hereby shal! be addeJ tugether and the aggrrgete amount thereof shall be paid by the murtgagur rach month in a single payment
ta tx applied by the mungager to ~he folloM ing i~em.c in thr order set forth:
111 premium charges undrr ~he cuntrac~ ut imurance wi~h ~he Secretary of H~wsing and Ur1+an ikvelopment, or monthly
charge lin lieu of mortgage insurance premium), as the case may be;
U1) ground rents, taars, aueicm~:nts, firc, anJ uther hacard insurance premium~;
(111) intrrest un the nute xcure+i hereby; anJ
(IV) amortizatiun of the principal of said note.
Any deticirncy in thr anwunt uf such aggregute nwnlhly pa~mrnt ~hall, unl~v maJe go~xl by the murtgag~ir priur ta the Jue date uf
the ntxt +uch payment, cumtiwtr an rvrnt uf default unJer this mixtgagr. fhr murtg~gee m~y cull~tt a"latr rharge" not to excrcd twu
ce~ts 12c1 fur rach Jvllar IS11 uf e:?ch papment mure than fiftrrn (I5~ Jay~ in arre:u~ tu cover the e~tra exprnx invulv~l in hanJling
Jel~nquent payments.
3. That if the tu1a1 uf thr payment~ maJe by the mu~tgagur u~xler Ihl.of paragraph 2 prctieding .hall r~ceeJ the arrnwnt uf the
payrnent~ :uturlly made t+y the murtg:~get, fur gruunJ rents, taxr~ rnJ 3~~ea~menu anJ mwrarkr premiumw a+ the case may br, suct.
eacess at the option ot the mortgagee, shall, be cre~fited on subsoquent payments to be made by the tnortgagor, or refunded to the
murtgagor. If, huwever, the munthly pryments m:xle by lhe murtgagur under lb? uf paragraph 2 preceding ~hall nut br ~ufficient u~ pay
grounJ rtnt,, taxrs anJ a+.e++mcnh anJ insurance premium~, as tht ca~ m~y be, ~hrn the s:tme ~hall becumr due anJ payable, then the
mortgagor shall pay to Ihe murtgagre any amuunt n~r.wry t~~ ma{.r up the ~efxiency~. on or t~tfore the Jate whrn payrnent of such
gruurni rents, t~r+. aa.evmenu, ur ~~~urancr premiums ,h~ll t?e dur_ If a~ any time ~he m~x~gagor shall terxlrr to the murtgagee in
accorJancr with ihe provi~iun+ uf the note secureJ h~reby, full paym~nt uf the emire indebtrJness repre~nted therrby, the mortgag~e
shall, in computing the amount uf ,uch inJebt~Ylne~s, crrd~t w the accuunt of ~he mongagix all payments maJe urxier Ihe provisii~ns of lul
uf paragraph 2 hrreof which thr murtgagre hati not becume obligateJ to pay to 1hr Secretary of Housing ar?d Urban Development anJ any
balancr rcmaining in thr funJ. :~cumulatrJ unJer thr pruvi,ium uf Ih/ uf caid paragraph 2. If there shall t+e a drfauh urxier sny of the
pruvi~iuns of thi+ m~xtgagr. rr~ulung in ~ public sale uf Ihe prrmi~r, cuvrr~d hereby, or if the m~xtgagee acquire. the pr~perty olherwise
~fter def~ult, thr mortgagee ~h:dl apply, at Ihe timr ~~f the cummrrxement uf ~uch pr~:eeJings w at the timr the pruprrty is otherwise
acquirrd, the balance Ihrn remaining m Ihr fund~ accumul~t~Yl unJer ~h~ of p~ragraph 2 pcer,eding :~s eceJit a~a~mt the amuunt of
principal then remaining unpa~d undrr ,aiJ nutr anJ .hall pru~rly aJjust any payments which shall hadt becn nrade under 1~,1 uf ,aiJ
paragraph. ,
J. lhat he wi8 pa~ all ~axa~. a~~e,.mrnt.. water ratr.. anJ uthrr governmental or~rtUnicieal charges, finls,•orlmpusitiom. for which
provisiun ha~ not t+een madr hereint+efore, anJ ~n Jrfault thcrcY~f thr muttgagte may pay thr same: and that he ruijE ltpmptly Jelivrr the
ufficial receipts therefur tu thr murtgagee. - - 'r •
S. That he w~ill permit, cummit. ur.ufTrr nu ~a.te. impa~rmrnt. ur drteriuratiun of saiJ property ur any part thereof: and in the event
u[ the failurr uf the murtgagur to keep thr i~uild~ng~ un wid pr~m~se~ anJ thu~r to t+r eratited on +:~id premi~. ur ~mpriwrments thereon.
in gawJ repair. Ihe rrwrtgagee ma~ makr such repairti in it~ di.crruun it may deem nrce+~ary fix the pru{+~r pre.ervation thereof, and :
the full artwunt ut each and evrry +u~h paymrnt ~hall t~r immeYliatrly Jue anJ payablr.:?rxi,hall t+r ~ecurctif bp thr lien uf this mortgage. '
6. I h~t he will pay all ~nd iingular thr ci»t~, chargc~. arxl rxprn+es, including rea,unable taNyer'+ fer+, anJ axt. of aMlracts of tiUe,
mcurr~Y1 or paid at any umr hy Ihr rrk~rtgagrr tx~au+e of the failure on the part uC the nwrtgagur prompUy and fully to prrform the
agreement~ anJ covenantti of .:?id promi»ury note anJ thi+ murtgage. and said c~»is, charges, arwl e~pen~c~ shall t+r immeJiately Jue and
payable anJ shall be~ecureJ by Ihe lien of this mixtgage.
7. ihat he will keep the improvement. nuw e~i~ting or hrrraRer erectcYi un the murtgrgrd prupe~ty~, intiurrJ ac may t?r rryw~arJ frum
Ume te~ timr hy thr rrwrtg~gre again~t I~rs Dy fire and other h:~rard,, ca~ulaur+, and cuntingencirt in tiuch amuunt. ~nd for such prriuJ~ 3s
may bt requirrJ by mortgager. ~nJ will pey prumptl}, Nhrn dur. any premium~ un.uch intiurance for paymrnt uf whwh pmvi+iun ha> not
been made hereinbefora All insurance shall be carried in compan~es approved by mortgagee a~xi the policies and renewals thereof shall
; he he1J by mortgagee and ha~r attachctil thereti~ kx~ pay~ble clau~t. in favur ut~ ~nd in furm accrp~ahle tu the murtgagrr. In evrnt of luss
~ he will g~ve ~mmed~ate notice by ma~l ta mortg~gee. arxf mortgagre may maAe pr~K~f of lu,c if nut made prumptly by m~xtg:+gor, arxi each
~ ~nsurance ~umpany ~oncrrnrJ i~ herrby authunced :+nd direYlrJ tn make paymrnt fur wch lu.ti Jirecth• ~u rrn~rtg:?gee imteaJ of tu
E murtgagi~r anJ mortgagre joinUy. ~nd thr inwran~e pnxerd., or any part therruf. ma~ t?e applird h~ rrx~rtgagrr at it+ optiun cither tu thr
! reJuctiun uf the indebteJne.. hereby cecurr~l ur to the rr,turation ur repau uf the property damagrJ. In rvent uf furrcl~KUre of th~s
s nxxtgage ur other tramfer uf uUr tu thr murtgagrJ pn~rrty in r~tingui~hmeM of the indebtrdnc~~ xYUr~ti1 hereby. al) righL UUr. and
~ intere~t uf the mortgagor in arxi tu arty imurance pohcieti then in ti~rcr ~hall pa» tu thr purcha+rr ~x ~eranter.
S. ~hat the mortgagee may, at any time penJing a suit uFwn th~~ mortgage, apply to the wurt having junxficliun Iherci~f for the
~ appu~ntmrnl uf •a receirer, snd such court shaU furthN~th appuint a retteiver of 1he premises CovereA hereby all and s~ngular, including all
srxl ~mgular 1he incumr. profit~. isw~~., and revenuec from whatevrr wurce derived. each arxl every uf which, it he~ng rxpretisly
~ undent~x,J. hereby mortgagrJ a~ if ~~ifically cel furth :~nJ Jr+crihrJ in the g~an~~ng anJ habenJum rl~u+r, hrrrof. anJ ~uch receiver
.hall have all thr bruaJ and effcYtive furttuunt anJ powrr~ ~n anyw ~.e entru~teJ by a~uurt tu a rrcr~ver. and .urh appu~ntment ~hall be
maJe M,u~h caurt a. an aJm~tteJ cqun} anJ a matter uf :ihv~lutc nght tu .a~J nx~rtgager, anJ w ithuut refrrerke to the :?Jeyu:~~y or
~ inaJryuacy of the ~•alue af thc prupcrty mungageJ ix to ehe wlvern:y ur ~nwlvency vf .aiJ nx~rtgsgur or the Jrt~nJent+, arxl th~t ~uch
rtnts, profiu, mcume. ~~tiues, and revenue~.~~all br ~pplieJ by .~ch rate~ver a.curdi~g to the lien uf this rrN?rtgage and the pracuce of +uch
court. In the event of any drf:wlt un Ihe part of the rtx~rlgagor hrreunJrr. thr murlgagur sgrer~ lu pay tu ihe murtgagee un JrmanJ as a
~ reasunable monthly rental for Ihe premi.es an amouM at lestit equivalent ti~ one-twetflh 11/12! ~~f the ag~cregate of the Iwth~r rnonthly
~ mstallmentc pa~aMe ~n the thrn currrnt year plus the actual amount uf the annual ~axe+, asussments. water ratrs. and insurance prem~urr~
~ for tiuch year not covercYl by the afuresaid monthly pr}ment~.
9. -That lu) in 1he rvent uf any breach uf ~hi> m~xtgage ur ~efauh un Ihr part uf Ihe rtwtttgagur. ur Ih? in the rvertt Ihat am uf .a~d
~
sums uf muney h~rein referr~yl ta t+e not promptly and fuli~ pa~d with~~ut JrmanJ ur n~Nicr. ur 1~ 1 in the evrnt that ~ach and evrry the
~ ,dpulauun., agrcement~. cundiuum, and c~~venant. uf w~J nute a~J ~hit m~xtgage, are not duly, prompdy, and fully prrfurnxd: lhen ~n
- e~the~ or any ~uch event, ~he wiJ aggregate cum mentioneJ in .aiJ nute Ihen rem:un~g unpaid, u ~th ~ntrrc.t accrueJ tu Ihat umr, anJ ~II
- muney. ,rcurrd hrrrM. .h~ll hecume Jue and payable forthw ~th. ur therraltrr. at thr ~~~iun of .aiJ murtgag~e. a. (ullv :ind completely a~
if all i~f the .aiJ sumc of nx.nr~• ..ere uiig~rl:~ll)' ~hpulattd 1u br pa~J un ,uch d~~. am th~ng ~n .a~J nute ur m ~hi~ nx~rtgagr to thr cunuary
notwith~tanJing: anJ thereu~m ~~r ~hereaRer, a1 lhr ~>puun uf .:uJ murtgagre. N~thuut rx~UCr ur drmanJ. ~wt :il laK ur in ryuh~. m.~y t+r
~ pro~r~uteJ n~ if alI rtx~nr~+ ~~ZUr~Y! hrrchy haJ mawrr.i pnur t~~ m in.trtuUun. lhe nwrtgagre may f~xrdu~~ thi. rrx:rtgage, a~ ~o the
' arrwunt .u Jrclared Jue .~nJ pa~~hlr. anJ thr ~~id prrmi~e~ ,h.?11 t+r ..~IJ tu .:,ti.fq and p:?~ thr ~:~mr tugethrr Kith c~~,tc. exprnce+, anJ
~ alluNance.. In ca.e u( p:?ru:~l (urr~lu.ure of Ih~. murtgagr. 1hr murtgag~d prrmi.t+ +hall he wW .uhjc~it tu thr cummwng lien uf th~s
~ ttN~rtgage Gir thr amuunl uf thr Jch1 ~u~ thrn due anJ unpa~d. In ,u:h ca.r Ihr pr~~~~.~um of ~hi+ paragreph ma} egam he ava~IrJ uf
~ Iherraftrr fr~~m ~~mr ta Umr hy th~ murtgagrr.
~ 11). 1 hat the nu~rt~;ag~~r w~II g~~r immrdialr nut~cr by mail tu the rnortgagrr ot any :~~n.ry.~ncr, tran~f~r. .~r ~hangr uf uwnrnhip uf
~ thr prem~~r,
~ I 1. I hat n~~ Nanrr uf .in~ c~nrn:~m hrrrin vr thr ~~hlig~t~un .ecurcJ h~reh~ .h:tll at an~ ume therraftrr ht hrW tu bt a wa~~er uf
~ thr term~ herr~~t ~x uf the n~~~r .r.urcJ herchy.
IZ. fhat ~f Ihr 1/N~ll~'a~~~~ default ~n any uf Ihe cu~rnant. ur ~grr~mrnh ~unlainrJ hrrcin. iN in .:uJ nutr. then the murtgrgee may
perform ihe samc. anJ :+II r~prndilurr+nrtclud~ng rca~onahlr aU~~rnc~~~ frc~~ maJc M thr m~.r~g:~grr ~n x+Jving.hall Jraw ~ntrrest at the
~ rate ~et furth m thc rx~te .r:urrd herel?y. anJ ~hall he rcpa~ablr ~mmrJ~ately anJ N~thuut JemanJ b~ ~he murtgagur lu lhe murlgagee, xnJ.
tugelher v?rth ~ntcrest anJ a~.t~ a:cruing thereon, shall tx ~ured hy this mortgage.
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