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Ihat, in ar~ler nw~r full~ tu prut~tit thr ,r:urn~ ui ihi. mur~~:~gr. 1hr murtg:~gur. tugrthrr with. :~nJ ~n ;~~[iini~,n a,, th~ ?x~nthly
pa} mrnt. un~trr thr tcrm~ uf thr nu~r .rcurrJ hrrrM. ~~n thc tir,i J:i~ uf ra.h mun~h u~til Ihr ,:iid nutr i. fuUy p:~id. Nill pa~• tu ~hr '
nw~t~;a~Ce lha fullu~~ing.um,:
la? An amuunl suifirient tu pruvido ~he huldrr he~eof wnh funds to pay thr next martgage imurance premium if Ihi~ imtrument ~nd
the nute +~cureJ hereby ~re inwrrJ, ~x a munthly charge lin liru of a moribage insurance premiuml if ~hey are field by thr
lc~:re~ary of Nousing and Urb~n Develupment, JS POIION'S:
IU If and so long as said note of even date a~x1 this iatitrumen~ are imured or arr r~~nsurret urxler ~he nrovi+iuns of thr
Nauonal Housirtg Ac1, an amount sufTicient 1o accumulato in the hands of the holdc~ one I 11 month prior to itc due date thr
annual nwrtgage insurance prcmium, in urder t.i pro~~iJr +uch hi~lder K•ith fund. tu pay +uch pr~mium to the ti~-crctury uf
Nau~ing and Urban l~vrlupment pur.uanl to tht Natiunal Nousing Act, as amcndrd, a~xi applicabtc RegutaUum
thereun~er, or ~
IIU If and w long a+ s:?iJ nutr uf even date anJ thi~ instrumrnt arr held by the Secrets; y nf Hou~ing anJ Urban [hvelupment.
a rmmthly charge (~n lieu uf a murtgagr imurance premium) Nh~ch ,hall t+e in an amuun~ eyis~l to unr-tNrlfth 11/12i uf
one-half N i) per centum of the aver~ge uuts~an~ieng b:,lance due un ihr note cumputed w•ithout taking into aceount
delinquencirs or pr~payments;
~bl A,um equnl to the gruund rents, if sny, next due, plw the prrmiums that will nrxt become due anJ pa~•abl~ un ~~licir~ uf fire
and othrr harard in+urartce covering tl?e irw~IgageJ pioperZy, plus ta~ch anJ as,ecsmrm, next .lur un thr m~~rtgaged pro~rty lall
ac estimated by the mortgageel Irss all sums alrcady paid therefcx divided by the number uf mon~hs tu elapsr brfore une munth
prior to the date w hen such gruunJ rents, prem~ums, •t:~xes, a~xi a,se.~mc~tc H ilt hrCOmr drlinyuent. ~urh ,um~ tu t~ hclJ hy
rtx~rig~gee in tru~t to pay ~aid ground rents, premiums, taxr+, anJ +pecial a~sr+~mentx; and
~r? Alt payments mentioned in the iwu preceding.ubsections of this paragraph anJ all payment~ to be made under the note ircured
hereb~ .hall he added together anJ thr aggregatr amuunt thercof chalf be paiJ by thr murtgagor rsch munth ~n a cingle payment
to he applied br the mortgagee tu thr foUow ing hem+ in the urdcr srt funh:
111 premium ~harges undrr the contract of insursnce Nith thr Secretary uf Hou~inb and Urban lh~•rlupmrnt. ~.r nx~mhl~
chargr lin lieu of mortgage insurance'premium), ac the ca~e mac be:
Ill) grounJ rents, taxes, a~~rssments, hrr, and other hatard insurance pre~mums;
IIIU interrst on the note securctil hcreby; and
IIYI amortizatiun uf ihr princip:~l uf wid nut~.
\n~~ drticirn~}~ in the am~wn~ ot ~uch aigr~gatc monlhly pa~•mcnl .hall. unl~,s madr guixl by Ihr murtg:~g~.r priur a~ thr Ju~ J:ur ut
thr o~~t .uch paymrnt. comUtute an ~vent at~ Jtlault under thi, murtg:+~.e. "Ihe mortgagee may callect .t '~latr charge" ~ut tu e~cr~J tw~~
<rnt~ I~c1 for cach ~k,llar 1~11 of r:+ch pa~mrnt mure than fiiteen t I51 Jay~ io arrrar, to cover thr r~tra ixExmr in~ul~•~~ +n h:~nJl~n~;
~rlmyurnt p:~ymrnt..
3. That if the total uf th~ paymcnt~ maJe hy thr m~~rt~a~gnr under Ihl i~f paragr:~ph ~ pr~crJ~n~ ,hull ~~cr~d thr :~muunt uf Ihr
pa~menh :+ctuall~ m.?~c M~ the m~xtgagcr, fur ground rent.. ta~rc and a..a~.~menn an~ in~ur.uk~ prrmium.. a, ~Ac ~acr nia~ be. such
excess at the option of the mortgagee, shall, be credited on subsequent payments to be made by the mortgagor, or refunded to the
m.~rtgagor. If, hu~cr~er. ihe m~.nthh pa~ miot. madr h~ thr mortgagur under ihl uf p:sragraph ~ pre:rdir.g ~h:Jl nut hc ,utficiem tu pa~
gn~und rent., ci~e, and a.,e~~mrnt, and in.urance prcmium.. ,t~ th~ ca.e may t+r. w hen the uime ~hall hecume Jue :cnd payable, lhen thr
nx~ngagor ~h.el! pa~ to thr morlg~ecr .~n~ amuunt netit.~an to malr up thr ~tctici~n:y, on ur h~furr Ihe Jatr ~~hrn px~•mrnt ~,1 .uch
~round rrnh. rt~r., :i.,e.~ment.. or imurance premiumc ,heill t+e Jur. If at :tn} time the mortgagur ,h;~ll trndrr tu thr murtgagc~ in
:~ccardancc with the provnion. of thr nute .rcured hereb}, falt payrnrnt uf thr rntire ind~ht~tiine,. ~rprr.enteJ thereM, thr rmrngagrr
,hall. in c~,mputing ~he am.~um i~f wch indrbtednr+,. crrJit to ~he account of ihe mi,rtgagor all pc~ymrnt. made under thr pruvi.iuns of ~ul
~~f p:~r:~graph ? herrof ~chich the m~~rtg:~gte ha~ n~ri becume ohligated 1o pay t~. the tie:retar}• of Nuu.~ng :ind l'rhan l)evclopment :~nd an~
h;J:~nre rcm~ining in the fund~ x:umulatrd un.lrr thr pru~ ~,ium c~f fh~ ~~f +aiJ paragraph !f thrrr .h.~!! he a Jrl;iult urnlrr am ~~f thc
pru~~~iom uf thi~ nu~rtgage. re.ulting ~n a puhlir ,:dr ~,f lhr premi.r. cu~eretil hrrrhy. ur if thr murtga~,e~ acyuire. thr pruprrty uth~n~ iu
~ .~i1ar il~t:uill. thc murtg:~g~e ~h.~ll appl). al th~ hmt .rf ~hr cummenrcmrnt uf ~uch pr~ke~ding~ ur :~t Ihr (i~~r ~hr p~~~prrt) i~ ulhin~ i~e
:~~yuirrJ, thr batance thrn rrmaining in th~ fun~f, :~ccumulat~t! una!rr +h~ ui~ paragraph = pr~irJing a, a:rrd~t :~g:~~n.t th~ amuunt ul
principal thrn rrmaininc unp:~id «nder ~aid note and ~hall properl} adjutit ;~n} pa}~tnrnh which chall havr hrrn m;~Jr w~~ter lu1 uf ,;ud
par:~graph.
-t. i hat hr ~ill pat aN ttxr~. ~~.e.~mr~Tt,. t~ater r:dcy, anJ ~,thrr gu~rrnmenta! ur munir~pal rh:u~r•. tinr,. ur ~mp.,,iti~~n,. for ~+hi~h
pr~~vi.ian ha~ nut tken maile hrrrintkfure. and ~n drtault tnrr~ui Ih~ murtga~re ma~ pay th~ ,:~mr: aad th:tt hr ~~ill pr~,mptl~ drlntr ?hr
uflict:d rec~~pt~ therefur tu thr murlgagee.
1 h~t he uill permit. cu+~im~L ur ~affer n~> >~,i,tt. ~mpaermrn~, ~x Jrtcn~~rati~m ~~f ~aid prupcrtv ur ant part thrrruf~; and ~n thr t~rnt
uf the fa~lure of the mortgagur tu ke~p th~ hwlding~ un ,aiJ piimi,~, and thu,r tu t+~ ~rr~trJ on ,aid prcmiu~. ur imprucrm~nt, thrreun.
in gixxi rrpair, the murtg:igee may mal,r ~uch rrp:~ir. a~ in it~ dexretiun it mxy deem nc~~„ar~ fur thr pruE:_r pre.rnati„n thcrcuF. and
th~ fuH amotint of each artd e~~en• such payment ~hall t+r immrdiatrly Jur snJ payaMr. and .h:?II be uti~ireJ hy the lirn uf thi. mortg:~gr.
6. Th3t he w~ill pay ~II anJ singular the co.ts, charge,, and expen.e,, including reasonable L•iNyer'~ frr,, anJ cu~hot'ab~~ract. ~~f tidr.
inc. .c~1 ur paiJ at any time by thr murtgagc~ hraw~< <if the failure un ~ie part uf the nxtttg:~gur prumptty an.l fulfy tu ~xrfiirm thr
~grerment. anJ ~uien;int+ u! .aid prum~+~ury note and ihi~ m~,rlgagr. anJ ~aid ~~rh. charge~. and c~pemr~ ~hall t+~ immraiairh .lur and
p:~~.~hlr anJ ~h:~ll t~e ,e.ureJ by thc lien of thiti mortgaer. ~
~I'hat he Nill Aeep thr impr~vemrni~ now e~itiUng ur hereatter erectrd un [hr murtgagrd prup~rty. imurcJ m.i} hc rryu~rrJ frum
t~nte tu t~me bi the rrx~rtgagae ~gain~t li~.< h~ fire and ~~the~ haixrJ,_ cawL•itic~,, and cunting~n~irti in wch .im~~un~.:tnJ fi~r ,u.:h prriuJ~ :i.
ma~ t~e rcyuired hy mort~.~ger. and Nill pay prumptly, when Jue. an~ premiums on wch insurance fur pa} men• ~~f .~hich pr~n i.~~~n ha~ nut
been made hereinbefore. Atl insurance shall be carried in companies approved by rtwrtgagee and the policies and renewals thereof shall
he hrlJ by murlgagee anJ ha~e attanc~-~i thrreto lu~. payablc .lau.es in fa~or of ~nJ ~n furm acceptablc tu the nxir~gag~ . In r~~nt uf 1~~..
hr ~ ill gi~c immediatr noti.e by mail tu m~~rtgagee. and murigagee may make pnwf uf I~x, if n~.t made prumptl~ h}~ murt~:icur. and ~.ich
~murance company concerned is herrh~• authoriteJ and JirreteJ to make payment for wch tuc, directly ti~ rrH?r~garrr in.lraJ uf iu
nH~rtgagur and m~,?tgagre juiritly. :~nd thr imur:tncr pnxeeds. or an~ part thercoG may t~ :tpplied h~ murtgage~ :~t il. uptiun rith~r to th~
reductiun ~~f the indebt~Yine.~ herrhy ,ctiureJ or tu the resturatiun ur,rep:~ir uf the pruprrly dam:~grJ. In tvrnt uf furcclu.ure uf thi.
murtgagc ~~r ulhrr tran~fer of tit(e t~~ thr m~~rtgageJ pn~rrty in extingui~hmrnt uf thr indehtrdnr.. u~urcd hcrrh}, all righl. tiUr. anJ
~ntere.t uf thr mur[gagur in anJ tu any insurancc polities then in furce ~hall patis to the purchaser ur erante~.
' H. ~I~hat if ~ht~ pr~~~ni.ev, or .in}' part thc~reo(, be condemned under an~ po~~er o( en~inent dumain, ~~r a~ qnir~~t tor a publi~~ u~e-,
~ th~~ ~lam~~~«•., pru~~eFd., and the con~ideration tor .uch acyuisition, to the rxtent ot the (uil ,uu~~unt ~~t in~iri~t~•~;ne~.~ ?Ewn chi.
i llnrt~agr,.indth~~~~~tc• sc.•ored hFrc?~~~ rr~i:~ainin; unpaid.arr hrrc~hv assi~nFd b~ th~• ~I~~rtta~nr tuth~~ ~tortr,~~~•~• .~nd .hall Li~ E~.~i~i
~ furtht.ith ~o tht~ ~lott~asec to b~ ,~pplic~d bc it un accoun: uf th~~ indc•btednc~~..c~~irrd h~•r~•L~, ~~hcthcr du~• ur not.
~ 9. Thai the nwrtgagee ma~, at an~ timc penJing a,uit uEx~n thn murtg:ige. apply t~~ the c~~urt h.~~ing junuticti«n thrreaf ti~r the
i apEx~mtmrn~ ut a rerriver. and .urh ruurt .hai! f.xthxiih •rppoint a re~ei.~er of thr prrmi~r, c.~~•errJ hrreh~ all anJ ~inKuL~r, including all
and ,ingular thr incume_ prufitti. i.~ue., anJ r«~nur~ frum Hhatecer wurce derivrd, e:?ch and evrr~ of which. it Ixing r~prr,~ly
; under.tu~xf. i, herchy mortgaged a~ if .pecili~aU~ ~rt forth and dekribed in the gr~nting and hat±enJum ~lau.~,'hrreuf. :~nd .uch r~tiei~rr
+h:J! have :~ll the hruud anJ effective functiuns anJ pouen in anywi~e entrusted b}• a court tu a reccivrr. and such ap~~intment .hall t.i
f madr hg wch rourt a~ :~n aJm~tted eciuity and u matter uf ahx~lute right tu ~aiJ morlg:~ger. xnd ~~ithuut rrf~rcn.:c tu th~ adeyu:i~y ur
in.~.lryuac~ .,f the valur of Ihe pruperiy murtgagrd or tu the x.henc~• or in~~il~enc~• ot.aiJ mort~agur ~~r the.iefendrnt,. anJ that ,uch
rrnt.. pmfitc, income. i~~iies. and revenuc~ ~h.ill he applirJ hy ~uch reeeiver according to the lien oi this mortgage and the practice uf wch
:uurt. In the event of an~• Jefauh on the part of the rtxirtgagor hereunder, the mortgaFor .~gree, tu pa} t~~ the murlg:~g~r ~~n drmand a.
rr.~.~,n~hle monthl~ rental for the premix~ ~n amount at Irast equi~alent to une-tw~lfth 1 i/12t ~~f thr aggregate c~f thr tweh~e rrx~nthh
imu~Nmenh papahl~ in the Ihen current }rar plus the arwal 3mount uf the annual tax~, acties.menh...atcr rate.. ;~nJ imuran~r prcm~um+
f~~r ,u~h y rar not cuvered b} the aforesaid monthly paymrnt~.
10. That 1u) m the e~•ent of any breach uf [hi~ murtgagr ~~r defauh on the part uf the rrx~rtg~gur. ur Ih? in thr evrnt that any ~~f ,aiJ
~um~ uf muney hrrem rrferrc*d to be nut promptly anJ fuNy paid wi~hout JemanJ ur n~~ice. ur Ie•) in the ev~nt th:u ea~h anJ r~cr~ thr
~upulati~rns. agra:ementti, wnditions, and covenant, ut ~aid nutr qnJ thi, murtgage. are m~t duly, prumptly. anJ fuUy perfurmcJ: thrn ~n
either ur am .uch evem, the .aid aggregate ~um mentioneJ in .aiJ nute then remainig unpaid. w•ith intere,t accrued to th.it timr. and all
m~mey, ~ea~rrP ubrrbt~, +hal! t+ecvme Jue and pa}:eble furth?s ith or ~herraRer. at the uptiun uf ,aiJ murtgager, as fully and completely a~
if all uf the saiJ tium, ~~f muney Here originally titipulateJ ti~ t~ p,~id on ~uch day. anything in ~aid nutr ur in thiti owrtgagr tu the cun~rary
nutw ith~tunJing; and thrreupim or th~eafter. at thr optiun ~~f.aid rtx~rtgagee, w~lhoul nutice or Jem:~nd. wit xt iaw or in ryuity, may tk
pr.ne~uteJ a~ if al! muney~ ~tcureJ hereby haJ maturc~l prior tu its institution. "~he nx~rtgagee may fixeclu.e thic rrx?rtgage, as to thr
~ artx~unt .o Jeclarrd due and, ayable., :~nJ the ~aiJ prrmises shall tx suld to satisfy anJ pay the wme tugether aith cu~t~. r~pen~e~, a~id
E alluwance.. In ca~ uf partia~totµlrndre ~f lhis mortgage. the mortgaged premi,r, tihall be x.ld ,ubj~tit tu the cuntinuing lien uf this
f rtx~rtg;~gr fur the amuunt iif'thC ~eM~rtot tHen Jue and un a~d. In tiuch ca~e the rovicium uf thi+ g p
! P" P para r:+ h m:~ ~ a•ain t+e a~:nled uf
~ thereafter trom time to time by th~'rnortgageG . •
f I l. That Ihe m~irtg:+gor H ill givr immeJiatE Rotice by mail to Ihtln~~rtgager uf am ~omryanc~, transfer; or ~hange uf oa nenhip ~~f
~ the premi~e>.
F 12, (hat no waiver uf anq co~enant herein or of tbe oMigation se~urc~i hereb~~ shall at an} time ther~after he hclJ tu hr a waiver of
1he term. hereof or uf the notr SrcureJ hereh~~.
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