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2. "I ha1. in ~xdtr rtx~rc fuUy tu prutrct the +rcu~iry of thic mortgage, thr mu~tgagur, l.~g~thrr H hh. ;~rxl in :~.Idition t~~.~the nx~nthi~
paymrnts under the term+ of the nutr ~~~.u~~~l hrrehp, un ihc tint J:~y ul r:kh munlh unul thr .aid nute i~ lully pa~J. v?•ill pay ti~ the
murtgag~e Ihc ti~lluNing +umc:
lal An amuunt +ufficienl tu pruviJe thr hi~lder he~roi wi~h t~unds to pay the nrx~ mungage incurance prem~um if ~hi+ inctrwnenl and
the nulr se~u~rJ herehy are ~mut~Yl. ~x a manthly charge lin lieu of a m~x~gage in+urar?ce prrmium) if thry are held by tAe
Stcretar~• of Housing and l'rban ikvrlupmem, as follow.:
111 If and .o long as wid no~e uf rven Jatr and thi. in.trumrnl are insured or art reinwrrd undrr ~he nrovi.iuns uf the
National Housing Act, ao :~mount cufticienl ta accumulate in the harxl+ of lhe halder ooe I 11 month {xiur ~o its due date the
annual mungag~ insur~nce prrm~um, m ord~r u~ pruviJr +uch holder with fund+ lu pa)' ~uch prrmium ta the ticYreu~ry of
Nousing and Urban Ikvel~~pm~nt pur~uanl tu thr Nauunal Nou~ing Act, a~ am~nded, anJ applicablz Rebulauum
thereundtr, or
1111 If anJ co long a~ ~:+iJ nutc uf evrn date aixl thi~ inslrumrnt are hrld by Ihr Secre~ary ot H~.u.ing :inJ Urban [~tvrl.~pment.
a monthly chargr Iin I~ru .~f~ a mungagt in.uran~r prcmiuml ~hich ,h:Jl br in an :~nKrunt ~yual tu unr-twelfth 11/1?1 ut
unr-halt l!~1 per ~enWm ut thr :~ver~gr uut.tand~ng baiance dur on Ine nute c~m~ui~Yi H~1in•w ~~i.iu~ ~uw a~.uuu~
delinquencie~ or prep:+ymrnts;
Ib) A~um equal to the grourxi rent+, if ~n~, nr~t due, plus the prrmiumc Ihat will next become dur and papablr on ~xilicies of fire
and uther hazard imura~xe rovering thr m~xtgaged property, plus taxes and ai~e~cmem, nrxt due un thr mungaged properry lall
as estimateJ by the rtwrtgagtel less all sums already paiJ therefor divided by ~he number uf months to rlap~ before une month
pnor to the Jate whrn such gruunJ rents, prcmium~. ~a!ces, arnl a~e~~ment. w~ill bctiume ~rlinyi~ent. .u~h sum~ t~~ be held by
rtxxtgagee in trust to pay said ground rents, premiums, taxrs, und special acse~,ments; ~nJ
Ic1 All payments mentioned in the two preceding subsectior.s of this paragraph arxf all paymcnts to be made under the ~~te secured
herchy shall be aJded tug~ther and ihe aggregate xmount thereof shall be paid by the mc~rtgagor r;?ch munth in a~~nglr payment
to br appl~ed by the murtgagee W thr fo11uN ing itrm~ ~n Ihr order set forlh:
111 premium charges under the contract of ~nwr~nce w~ith the Secretary of Hou~ing and Urban [k.~~lupment, ur m.~n~hly
charge lin lieu of mortgage insurance premiuml, as the ca~e may be;
111) grounJ rents, taxcy, :?swessments, fire, and uthrr haiard in+urance premiums:
11111 interect on Ihe note +ecured hrrcby; 1OlI
(IY! amortizauun uf the principal of wid nu~c.
:i~y drtici~nc~ in thr anwunt ul su~h aggrc~;:~t~ munthl~ pa~mrnt ,halL unlr,~ made gu~xl hy ~hr murtg~~gi,r priur to ihi Ju~ datr of
the ne~t ,u~h payrtxn~. cumututr an r~cnt uf Jrfauli und~~ thi~ murtgagr. 1 h~ murlgagrr ma~~ .~~Ile:t a latr ~harg~'~ not tu ~~ca~d tNu
cents ~2c1 k?r ea~h Jull~r 1511 uf ~ach pa~mrnl mu~~ ~han tilt~rn IISI da>+ in arr~an w cuvrr thr c~tra ~~~xn,r in~~uhrJ m handling
Jelinyurnt p:+yment,.
lhat if thr Iat:J of lh~ pa~nxnt, maJe h}~ the murtgag~~r und~r Ih1 uf puradraph ~ pr~'i~din~ ~h:Jl ixce~J th~ :umwnt ot Ihe
payment+ actually maJr h~ ih~ mu~tgagr~, f.~r Eruund r~nb, ta~~y and a»«.m~nt, anJ ~n.urarkt pr~m~um~. thr cax may tx:, auct.
excess at the option ot the mortgager. shall, be creJit~i on sub~quent payments tu be made by the mortgagor, or refunded to the
RlUflb'ilKUf. IL FIUNCYC'f, lI1C rrxmthl~~ pa~~n?~nh mada: bp thr murlgagur un~~r ibl.if par~graph 2 prrc~Jing shall nut tk ~utfi.:i~nt tu pa~.
gruunJ rrnt,. tax~~ .?nd :t,~r„mrnt. and in~uran~r pr~mium,, a, thr .a.r ma~ tk. ~~h~n the .:tm~ ,hall becomr duc and p~}aMr. then the
nwrlgagur ~hall pa~ tu th~ murtgaget :my amount nrcr»ar} tu mal.~ up thr drfh~enc), un ~~r h~furr lh~ dutt Nhrn pa} nkm uf .u~h
grourxl rent~_ tatr., a~x»mcnt+. ur in.uran:r premium~ ,hall be dur. If at an~ time ihr m~utgabur ,hall tco.ler tu thc murtg~gce in
a~:wr~ancr .~ith th~ pru~i~~um uf thr nulr ~r~ured hrr~b~. full paymrnt uf thr entirc ~nd~MrJnr.s rrprc.ent~d thereby, ~he nx~rtgagee
~hall, in romputing thr amuunt ~f,uch in~rbt~tiin~ti,, cr~Yiit to th~ accuunt of th~ mortgagur .JI paym~nt~ ma~e under the pruv~siun~ uf ~u1
uf paragraph 2 hrrcuf ahi~h th~ murtgagce h:?~ nut t+~cumr ubligatcd tu pa~ tu ihc kcre~ary uf fiut~~ing anJ l rban D~velupment and ~ny
balance rem:uning in th~ funJ, accumuL•itrd und~r thr pruv~.~~~m uf Ihi uf .aid paragraph 11 ther~ ~h:~ll hr a ~rf.~ult undrr an} uf 1he
pruvi~iun~ uf thi~ murtg:~gr. rr~ulung m a puhlir .:~1~ uf thr prcmi,~~:ucrrrJ hrnb}. ~~r if thr murt~.agr~ c~ryuu~, thc prup~rt~ uthrrtii+r
~fter Jet:~ult. tht murtgae~r ~hall appl~, at ihc tim~ uf thr i.~mmrn:~ment .~1 .u.h pnkecJ~ng. ur at th~ umr the pruprrty i, +,thrn+~k
acyuirrd. thr balan.~ thrn remaimng in ~hr tunih accumuLd~d un~rr ihi ~,t~ par:igr.~ph preirding a~ c~rdit again.l thr anuwnt uf
principal thrn rcm:~in~ng unp.ud undrr ,:~iJ nutr and ~hall pru~xrl~ :iJi~~,t any paymenb whith +hall ha~r tkrn madc und~r lul ~~i .:?id
par:tgr~~+h.
-1. Thal he ~~~II pa~ .~II t:~xr,. a~u~,mrnh. ~~at~r r.~tt.. anJ ~,th~r ~uvxrnmrntal ur municipal charge., tinr.. ur im~x~.itiun.. fur ..h~ch
pruvniun h.~ti nut hr~n madn c~rrinhrti~rr. :~nd ~a drfatdt ~hrr~uf thr nuxtgager ma) p~>' thr ~amc; and thal h~ ~~ill prompth drl~~rr thr
ufficial rctiript~ thrrcf~~r tu th~ murtgagr~.
5. l hat he w~ll pcnnit. cummrt. or +uti'rr n~~ ~a.tr. ~mp:~~rmrnt, cx Jr~eri~~ratiun of ~aid pn~erty ur any part thercof: anJ ~n th~ r~ rnt
of Ih~ Ic~ilur~ af thr murtgag.~r tu Arep thr hu~ldingti un ~:uJ prrmi.r. :end thu,r tu ht ~r~tited on +aid premiu~. or ~mpru~rmrnt~ thrr~un.
~n gixxl rcpair. Ih~ murtgagrr m:n' m:~{.~ wch r~pair~ a~ ~n it, diticrrtiun it m:+~ deem nc~r„an for ~he pruprr pre+ervaua~ therruf. anJ
the full :~muum of rarh :~nJ rvrn v~~h p:~ymenl .hall hr immrJiatrh Jue anJ payahlr. :~nd +hall be utiurtJ M• the I~rn uf thi~ murtg:~gr.
6. ~h:~~ he H~II pa~ :JI anJ ,ingular th~ c~ht+. ch.ug~.. anJ e~p~n,e,. inrluJin~ rea,unable lawyer'c frc.. anJ coch of :~b.tr.sctz of titlr.
i incurr~d ur paiJ at an} tim~ h~ thr mortgag~r h~c:w.r ut~ thr failur~ an ~h~ part uf thc murtgagur pr~mptl~ anJ lully tu pcrli~rm the
agrerm~m, anJ co~enamc c~f ,aid pn,mi..or} note anJ th~, murtgage. :ind ~aid rintti. charge~. arxl espensi-> >hall he imm~.liatrh Ju~ :~nd
i payablr and ,hall tx sccure.l hy ~hr li~n uf thi~ murtg:~~r.
i I hat he ~ill ~.e~p thr mipr~~~rmtnt. nuw t~i,ting h~r~aft~r er~ctc~t un thr m~~rtgageJ pr~,perty. imured a. ma} F+r r~yuired frum
j timr t~~ timr by the nwrtgagre .isa~n.e i,~., n~ n« :~nJ ~~ther haiard,. ca~uL•iti~h_ ~nd connngencie+ in ,uch 3nxiuntc and tiir ,uch penud~ x~
E may br reyuirrd by nzortga~,rr, anJ ~~II pa~ prumptly. Hhrn ~ur.:~n~• prrmium~ on,uch imur,~nce fur paymcnt uf Nhich pru~„i~~n h:~. nut
~ been made hereinbefore. All insurance shall be carrieci in companies approved by mortgagee anJ thc policies and renewals thereof tihall
be he{d by niurtgagcr and ha~~ :+It,i:h~yl th~retu I~~,. p:~~:~hlr rlau~~w in F.~vur uf an~l in furm .u~rptahlr tu thr rtxingagt~. In c~rm ~,f I~».
he will gi~e immediate nuti~r h~~ mail tu murtgage~. and m~~rtgagrr may maAc pnwf ~,f lu,~ if nut made promptly h~ murtgagur. anJ each
mwrancr ~umpany cunceraral „ h~r~h~ :wthuri~rJ an~l dire~le~ tu mnl.r paymrnt fur .uch I~~,. dire~tly t~~ murtgagce imtraJ uf to
mortEagi~r anJ mortgagrr jointly. and thr intiurance pnxrrd.. ur any part thercY~f. mac he applied hy nN~rtgagrr at ~t~ uptiun rrth~r tu thr
redu~tiun of the inJehte~n~~~ Arreh}• srcur~Yl ur to ~he re~~ur:~tiun ur rep~ir of thr proprrty ~lamaged. In cvrnt of fureclu.ure ~~f thiti
mortcage or other tran.fer of title tu the murlgagrJ pru{?rrt~ in r~tingui~hment uf the ~ndrbtedncw~ >ecureJ herebg, ,ill right. titlr. anJ
intrre~t uf the mortgagur in anJ :~ny imur.ince puhcie~ thrn ~n furce .hall p•sc~ t~~ thr purchatirr or grantee.
it. (hat Ihe mextg:igee may. at anp time pending a,uit u~~n this mortgage. appl~ to the cuurt h:~ving juri.Jictiun there~~f fur Ihe
ap~x~~ntn:ent uf a rcYen-rr. anJ such court tihall furth~hh ap~~int a receiver uf the prem~~r~ covered hereby all anJ ~ingular. incluJing all
anJ ~ingular thr in~unm. prufih. n.u~,. :~nJ rcvcnur+ frum ~haiever wurce deri~~rd. rach and rvrry uf .+hich, it heing e~pre~~ly
unJer,tu~x1. i, hrreh~ murtg:ig.~l a~ if ,pe~ific:~lly ,r~ ti~rth anJ d~ticrih~d in thr granting anJ h:~t+~ndum cl:w~~. h~re~,L .~nJ ~u~h rere~ver
,hall h:ivc all thr hru:,~l :~nJ ef7~Yti~r funruun, :~nd p~~~~n ~n :~mN i.r en~ru~trd h} a ~i,urt to re~~iv~r. and .uch :ippuintment ~h.~ll be
made M,uch cuurt an admittrd ~~ywt~ anJ a maltrr uf nhu~lwr r~ght t~~ ,aiJ murtgagec. anJ N ithuut refrrence t~~ the aJryuacq or
~nsd~yuac} uf the ~:ilur .~f th~ pr~~prrt~ mortgageJ ix to Ihe wlvrncy ur imu{~ency uf +a~J nx~rtg:igur ur 1he .I~fendrnh. anJ ih:~t .uch
rentti, profit~, in~um~. i~,uc•, anJ rc~rnu~a ~hall br appli~J h~ ,urh recei~er ac~urJing tu thr licn ~~f Ih~+ murtgagr :~nJ thr prac.ice ~~f tiuch
cuurt. In th~ rvem ~~f any deGwh ~~n the part nf thr murtgag~~r hrrrundrr. ihe m~~rtgagur agrre~ tu p:s~ tu th~ murtgage~ un drm:~nJ ~c a
rea~onahle munthly renlal for thr premi~e~ an amuunt at I~a~t rquivalent te~ ~~ne-taelfth 11It'_1 of the aggregatr of thr twelve rrx,nthly
~n~tallmrntti payabk in 1he thrn currrnt yr~r plus the acwal amuunt uf the annual t:?!ee~. :?s~e+,ment~. wata:r ratr.. anJ imur.~nce prcmiums
fo: .u~h ~~ar nut covereJ by the afurr,aid munthlp pxymrnt~.
9. "fh:~t I~r? in the c~~ent uf :~ny hrrach uf thi. m~~rlgage ur Jcfauh ~~n the part ~~f ihr rtxntgagur, ur Ii~l in the r~rn~ !hat any uf .aid
E-, ~um~ of munry hrrein rrferrcYl tu hr nut prompUy and fully paiJ w'ithi~ut Jrmand .~r nuuir. ur Irl in thr r~rnt th.~t rach and recr} thc
~a
,tipulauun.. :~grccmentti. c~~nJ~t~un,. and cuvenant, of ,aiJ nute and thh murtgage. ~rc ne~t Juh. promptly_ an.l futly prrfurm~d: thrn in
either ur an~ such event, the .:wid aggregate tium mrnuuned in .a~J n~~tr ~hrn remainig unpaiJ. hh intrrr,t arcrurJ tu Ihat timr. ~nd all
rrxmey. ~cYUrrJ hereh~. shall hrcumr Jur :~nJ pa~aMr furth~~ i1h. ~~r thrr~aft~r. al thr uptian ~~f ~aidniurtgagr~. .i. full~ :ind cumplctrl} ati
~f ~II of the .:+iJ sumti of ?m~ney wrre uriginall~ ~tipulateJ tu h~ p:u.l un .u~h Ja}. amthing in .:1iJ n~~tr ~~r in thi. r?w~rtgage tu thr a~ntrar~
nutN ith,tanJ~ng: and Ihrre~iFx~n ur thrreafter. at the optiurt nf ti~~d rrwrtgagee. ~i~huut nuti~c ur JrmanJ. .int aI la~+ ur in ~yuit~. may he
pru~r~uteJ a+ if all nx~n~~, .~tiured htrrhy h:~J m:+turral priur t~, it+ in~titi~U~~n. fhc m~~rtg:~gr~ ma~ f~~rrclu~r 1hi~ mortg:~gr. a, tu the
am.~unt JeclareJ due and payaMr. and thr Sa~J prcm„~~ .hall tx ,uIJ t~~ uiti~f~ anJ pa} thc .amr tugether with co~t~. ~rprm~~, anJ
alluwance.. In ~a.e ~,f paru:~l G~rrck„ur~ uf thi. murtgage, the nu,r~gageJ premi~r..h:,ll hr x,ld ,uhj~-~-t tu th~ cuminwng lien uf this
rtx~rtgage for thr amuur.t ~~f thr ~irht nut thrn Jur anJ unpaid. In ,uch ~:i~r thr pru~i~i~~m uf Ih~~ par.~graph may' :igain tk c~a:ulrJ of
thrrraiier frum t~m~ tu Umr hy thr murtgng~r.
10. Ihat thc m~,rtgag~~r will c~~r immrJi:dr n~iucr h~ ma~l tu thc murtgagec uf :~n~ ~unv~yancc. tramfcr. ~~r changr uf ~~wnrr~h~p ~~f
lhc premi.r,.
1 I. I~hat nu w.iivrr of any covenant hrrem ur uf thr ~~hligation ~r~ureJ hereb} ~h:Jl at :~ny time ihrrrafter he hc!d tu ba~ a waivcr of
thr term+ her~Y?f or of thr note secured hcrrh~.
12. "~hat if the murlgagur Jefault in any uf th~ cu~~nanR ur .~grrrm~m~ cuntainrd herrin. ur in ~:+iJ rx~te, then th~ mortgagec may
perform the ,ame, arxi all c~prnJhure, ~ including seawnshlr attorney's feesl made by thc m~rrlgagcr in w duing ~hall Jr~N intcrest at the
rate set forth in the nate ~ecureJ hercby. and shall be repayable immedialely anJ without Jemand by ihe nwrtgagor to 1he mnrtgagee, anJ.
together with interest and ro~ts accruing thercon. sha~l be secured by thic mortgage.
. 60~K ~C~7 Y1CE $CO!c ~V3, PAfE~ / ~