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2. ~fh~~, in utdrr nxur full~ to prulc~t thr ~ecunry uf thi~ mungagr. ~hr murt~:~gar. tugether wiih. ~~wl in sJd~tiun t~,. thc nwntht~
pa~ment. un~r~ the trrm. af ~hr nutr ,c~:urrJ hrrrh~. un the lir.~ .la> ul ~a~h ni.~iuh until the ,a~d nu~~ i~ ~UII)' F13ilI. NIII F1J)' Ill ~he
nwrtgag~r thr fuU.~N~n~.unt+.
Ia1 An a~wun~ •~ulticirnt tu prowJr thr huWer hereuf N•nh funJ~ tu pay thr ncxt murigagt inwrsnce premium if thi~ in~trumrnt :+nd
the no~t ~currd h~rrb~ are ~n~ureJ, ~x a mun~Aiy chrrga lin lieu uf a murigage ~nsu~ance prrmiuml if thcy :ur hrld by ~he
1n;rctary ~~f Huu.~ng anJ U~ban Drvelopment, a+ [uUuN~:
f 11 If and x? lung ~s w~J nutc uf tven Jete anJ th~+ ~nstrumrnt are imurrd ur :,re rein~ureJ unJer thr Dru~ ~+i~m uf ~~e
Na~iunal Nowing Act, an amuunt ~ufficitnt to akumulate ~n the hanJ~ of the twlder une l I) month prior tu ih Jue date the
:+nnual nwng•rgr inwran~t premium, in ~xJrr to pru~iJc +u~h hulucr Nith fundi to pay ~uch premium tu the k~retary .~f
Nou~ing and Urban (kvel~~pm~nt punuan~ tu ~he ~~uunal Huu+ing Acl, as amtnJeJ, arxl appl~c:+blc Rcgulatium
thereunJer, ur
Ifll If and w long a++aid natr oi ~ven date anJ thi+ ~nstrumrnt rrr heW by the ~retary of Hou+i~~ ac~d l'rtwn Ikveloprtxnl.
a rtx~nthly chargr ~~n licu of z? murlgage imuranct premiuml which ~hall bt in an arix~unt eyual to on~-twelfth 11112) of
~ne-half 1~_1 prr ceMum ut' th~ aver~gr uut~trn.fing balance Jue un ~he nule a~mputtJ without t:~?ing ~ntu ac~:ount
delinqutncie~ ur prepa~ ments;
Ib) A sum eyual u~ the gruund renh, if any, nex~ dur, plus the premiums that will next become due and payable on pol~ci~s of fire
arxt other hazard imamnce~overinE t~+e-m~h3+?B~ ~~«Y• Plu, tatr~ and assasment~ next Jue on the m~tgnged propirry lall
e+~imatcd by tha rtw~tg3ger) Icy. all sumc already paid therefor Jividrd by the number of months to elapse t+eforc one munth
prior to the datr Nhen such ground rents, premmms, taxes, and asstssmentc will became delinquent, such sums to be held by
mortgaget in truct to pay said ground rents, {+remiums, taaes, and ,pecial s~+e~~mrnu: and
(cl All payments mentioned in the twu preceding subsections uf this pazagraph anJ all payments to be made urnler the note aecured
hereby ~hall br adJrJ togethrr and the aggregate amount ~hereof shall be paiJ by the ~rxxtgag~x rach month in a>ingle paymtnt
tu k+e applieJ by.the mortgagee to the fullowing items in ~he urder s~t fonh:
111 premium 'charges under tht contraet of ~acurance with the Secretary ~if Housing and Urban Ikveloprtxnt. or monthly
charge lin lieu of mortgage in~urance premiuml. the casc may be;
1111 grounJ rem., taxes, auessments, fire, and uther har+rd insurance premiums;
11111 interest on the note secured hereby: and
(IV) amortiution of the principal of said note.
~\ny d~ficirrny in tAe anr~un~ of ~uch aggrrgate monthly payment ~hall, unlr,. made guiK1 by the mixtg:~g.~r pr~ur to th~ due Jate of
the nrtit wch paymeot_ cumti~utr an ~vent of default undrr thiti mortgagc. ~~hr murlbagee ma) collnt a~'late charge" not t.~ ~~ceed tN'o
tents 1_'c1 fi.r a:ach Jullar 1511 uf cach pa~mtnt motr than fifteen 1151 day~ in arrz:u. ta cover the extra e~peme im•ulvcvi in h:~nJling
delirtqurnt paymr~t+.
s. That if Ihr tulal uf the paymentc maJe by the mortgagor- under Ihl of paragr:~ph 2 preceding shall exceed !he anx~unt of thr
paymenh actually maJr bp the m~xtgagee, for grounJ rent.. ta~e+ and a+.ct,ment+ and imur;~nce premium+. ac the .ax ma} t+c, ,ucR
excess at the option of the mortgag~e, shall, be credited on subsequent payment~ to be made by the mortgagor, or refundal to the
nwrtgagor. If, huWrvrr. the nwnthly ~yment~ maJe by the mortgag~~r unJer Ih1 of paragr~ph 2 prec.rJing ~hall not t+e ~ufficient tu pay
ground rents. taxe+ aixl a.ut+ment~ and insuran~e premium~. ac thr ca~e may t+e. ~hen the +ame ~hall become due and p~yable, thrn the
murtgagqr .hall pay tu the murtgsgee any amuunt nnescary to make up the Jeficiency. on ~x hefore the date when paymrnt of such
grounJ renlc, ta~tc, acseuments, ar insurance premiums shall t+r Juc. If at any umc the murtgagur ~hall ten.lcr tu Ihe murlgag~e in
accorJanCr W ith thr provi,ionc of the nute securcJ hrreby, full payment of the tntire indebtcYfnr+ti rrprc~~ntcd thereby. ihe rtx~rtgagee
shall, in computing the am~~un~ of such indebtednecs, cr~1i1 to thr accoum uf the mungag.x all paymentc made unJer 1he pro~•i~iun. of Ia1
of paragraph 2 herrof which thr mortgagre has not become obligatcYf tu pay to the Secretan~ ~~f' Housing ancl l'rban ikvelopment and any
balxnce remaining in the funJs ac~umulateJ under the pruvi~iom of Ih~ of ,aid paragraph 2. If there shall t+e a default urxier any of the
pruvicium uf thi. mixtgage, re,ult~ng in a public ~ale of th~ premi.e. cuverrd herchy, or if thr mungagee acyuire~ the pruprrty utherw ise
afler defauU. Ih~ mortgagre ~hall apply. at the time of the commtnermrnt uf ~uch pnxeedingti or at tht t~me thr proprrtc ic uthrru ~+e
xyuired. th~ halatke thrn rrma~ning in the fund, sccumulat~Y1 unJer ~h1 uf paragraph 2 preccding a~ a credit again,~ th~ amount of
principal thrn rrma~ning unp:+iJ under .aid nute anJ ~hall pro~xrly aJju~t an~ p:+yment~ which .hall have t~een ma~e undrr lu1 uf .:iiJ
paragr:~ph.
-3. That he Nill pay all taxe,. a~,e.,ment+. watrr ratc~. and othrr guvrrnm~ntal ur municipal chargn. fine+. c?r im~~.iuunc, fur which
pruv~siun ha+ not bern ma~c hcreint?rfurc. anJ ~n default thereof Ihe murtgager m~y pay thr same: ~nd that he ~ill prumplly drliver the
official receipt+ therefor to thr mextgagre.
S. That he will prrmi~. commit. ur .utTrr nu ua.te. impairment. ur detrriurati~~n ~~f taid prupert~• ur any part thrreof; sn~1 in the event
of the failure uf the murtgagur t~~ ~rep the Fuildings un wid pr~m~tie, a~d thu.r tu be erctitrJ un +aiJ premix-s_ or impruvement~ thereon.
in giwd repair, the nxxtsagec ma~ makr ~uch repain a~ in its JiKrrtiun it may derm nece+sary for the pr~~r presrrvatiun thercof. and
the full amount of exh and rvrry such payment shall t+c immediatrty Jue and pay:tble. and shall t+r xYUrrd b~• the licn of tAi. rtwrtgage_
6. That he will pay all :?nd singular the costs. charges, a~xi expenses, including rtasonable lawyer'~ fees, anJ costs of abstracts uf tiUe,
~ncurr~i or paid at any time by tFte nwrtgagre tx-cause of the failure on the part of the nwrtgagur prumptly anJ fully to per(orm the
agreem~nts and covenant~ uf ~aid promi,+ory note and thit mor~gage. and saiJ costs. charge~. arxl expenses shaU t?e immediately Jue anJ
payablr and shall t+e securrd by the lien of thi, murtg:~ge.
7. That hr will krrp the improvements now ex~sting or hereafter erected un Ihe mortgageJ proprrty. inwrcd msy he rryuir~ti trom
time tu time by the rm~rtgagr~ agamst 1~»s hy fire anJ other hazarJs. casulaties, anJ cuntingern:ir~ in ~uch amuuntc and fi?r wch prr~uJs
; may he rrquired by murlgagce. :?nd will pay pmmptly, when due, any prrmiumc un wch insurance f~x pa~ rtxnt of w hich provniun ha+ not
! been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall
E t~e~ hrlJ by mortgagee and hnve attachrd thereto I~ss payable clau~t~ in f:?v~x of anJ in form acceptable to the mortgagee. In rvent of loss
j he w ill give immediate nuticr by mail to murtgagee, anJ murtgagee may makr pnx~f uf lo.ti if rx~t made prompUy by m~xtgagor. and each
~ imur~nce company concerneJ is hereby authorir.ed and directed to make paymenl (ur such I~rti ~irectt~ tu murtgagee imte:id uf to
~ nwrtgagor anJ mcxtgagrr join~ly_ and the insur•rnc~ proceeds, or any part thereof, may be applied by mortgagce at its option either to thr
( reductii?n of the inJebtrJne~, her~hy KtiurcYl or to the re+t~xatiun or rrpair of the property dam~geJ. In evem uf fureclucure of th~~
~ rtwrtgage vr uther tran+fer uf hUe tu the mortgaged property i~ extingoi,hment uf the indebt~dnecti .rcureJ herrby, ~II right. tiUe. anJ
~ interest of the murtgagur ~rt anJ to any imuranet policirs then in fi~rce ~hall pas~ to thc purcha+~r or grao~ee.
~ 8. That the mortgagre m:~y, at any Iime perxiing a wit upon this mortgage, apply to the court havmg jun,.iittiun thereof for the
appo~ntmrnt of a rrceiver. snd wch court shall forthwith appuint a receiver uf the premises wvereJ hereb} alt and ~ingul:?r. incluJing all
and .ingular the incumr. prufitti. iscurs, and revenues frum whatever wurce denved, each anJ every~ of which. it hemg e~pre~sly
undrr.w.~i, i~ hereby mortgagcYi as if ,pecifically xt forth and descrit+ed in the grantinb and habendum clau.e. hercof. :~nJ .uch rctieiver
~hall have all the b~uad anJ effrcti~~ functions anJ power+ in anyw itir enlrutiled hy a court tu s receiver. ~nd ~uch appumtment .haU be
~ made b~~ +uch cuurt a~ an aJmitt~J e~quity ~nJ a matter i~f ahx~lute right tu ,~id murtg:~gee, anJ w irt?oul refrrerxe tu the aJe~quacy or
in~Jeyuacy of thr ~alur uf the pruperty murtgageei ur to Ihe wlvern:y ur inwhenc~ uf ,aiJ rt?urtgagor ur the Jefendrntx anJ tha~ ~uch
~ rrntti, profit~, income. ~.sueti. anJ revenur. ~hall br applicJ bp w~h rr~eiver ac~~~rding to the lien uf thi, murlgage arxi the pract~~e of ~uch -
court. In the evem uf any defaull un ~he parl ot thr rtu~rtgagor hercunder_ the murtgagur agrec~ to pay to thr murtgagec un demand a
rea+onable munthly rental for the premices an amount :+t Irast equ~valent tu one-twelfth 111121 of the aggregate of the tw~elve rtxinthly
g mstallment~ p:+y:+ble in the then current year plu~ the acwal amuunt of the annuel t:~xe~. a+seasmrnt~, water rate~, and insurance premiums
~ fu~ ~ikh yrar not cu~rreJ by thc afore~aid monthly paymentti.
9. That lul in the event uf an}~ hreach of Ihis morlgage ur Jefauh ~~n thr part of the rtx~rtgag~~r. or (h) in the event that am af caid
~ sums of mune~• herein refrrrrd tu he not promptly and fully pa~d M'11F1UUf lil'I71:if1tl ur nut~~c. ur 1~1 in thc r.ent that cach :~nJ c~en thr
~ ~upulatium. :+grremrnt.. cundhiun.. anJ covenants of +:+iJ nute snJ th~~ murtg:+gc. arr not July, prumptly. :i~J fulty pertiirm~J: th~n ~n
rither ur any .uch r~rnt. thr ~~J a~r~Eate ~um menuuneJ in ~aid nute then remainig unpaid. ~~~th interr,t :~ccrued tu that Ume. a~d all
- rtx~nr~. ~c~ured h~rrby. .hall F~come dur anJ payable (urihw ith. ur thereafler. at the ~~{+u~~n ~.~f ~a~J murtg~ger, a+ full~ anJ co~npletely :i~
~ ~f all nf the +a~d ,um. of ~m~ncy ~ere originall~ ~tipulateJ to he p:ud ~rn .uch Jay. amthing in ~:iiJ nutr or ~n thi. nwrtg:~ge tu the cuntrar}
~ nutw hh~tandinF: and thrreupun ur thereafter. at the upuun uf ,a~J rtx~rtg~gee, w ithuut nutice or dem~~~J. ,uit at I:tw ur in eywly. ma~ br
~ prcxecuteJ a. if all inunry. sctiurni hrreb~• had mature.i priur to it~ imthution. The rTxxtgagee m.iy furerlu.r thi~ r?x~rtgage. ea the
amuunt co Jeclared Jue ~nd payahlr. and Ihe ,aiJ prcm~.r, .hall he wIJ i~? ~ati~fy :~nJ pa} the .:wnt~ tugcther with c~hh, ~~{xnses. and
alluw:~ncr~. In ca.r ~~f p:~rual furr~lu.urr uf thi~ mortg~ge. ~he m.~rtg..~rd premi.e, ,hall t.~ .uIJ .uhjctit t~, thr cunt~nwng lien ~~t thic
~ mortgage fur th~ am.~unt ~•f the ciebt not ~hen Jue anJ unp:ud. tn ,uch c.~.r the pr~~~ic~un. af thi. paragr.~ph ma~ again he ar:?~Ird of
~ therrafter frum time t~~ time by thr inortgagee.
~ 10. 1 hal Ih~ nxtttga~juf Wil~ gi~e imhxJ~atr nu~ice h} m~il tu lhr murtgagee uf an~ cunve~anxr. tr,in~frr. i~r chang~ ul uanrnhip uf
the premi~r.. s
~ 1 I. That n~~ wa~~cr ~StRny ~venant here~n cx uf thr uhligatiun ~rcureJ hrrehq ~hall :it any Ume thrreaf~cr t+c helJ to t+r a..~~~rr of
~ lhr termti hcrcuf nr of thc nult styuredhcieby. '
~ 12. I~hat if thr rtx~rtgag~v Jcfaul~ in any of the covenanu ur agrrrmenh cuni:~inrd hrrein. ur in s:iiJ rx~te. ~hen lhr murtgagee m~p
~ perform the ~ame, and all eapenJ~tures 1 including rtasunaMc atlorne~'. feetil maJe b~ thr murtgagre in w duing ~hall draw ~ntrrest at the
~ rate set forth in the note cecureJ hereby. anJ shall be repayable immeJiateiy anJ .sithout ~emand hy the mortgagor tc~ Ihe rtwrtgagre, anJ.
~ together with interest rnd cmts accru~ng Ihereon, sf4a1) tx secured by this murtgagr.
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