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h:ll. in urJrr tTh~ft lU~~y lu j~futa`Ct Ih~ ~CiUfil)' ~~l 1h1? (ilUft~;:~bC. IhC mung:~gur. t„grthrr Mtl~l, a11~1 111 .t~1~11UUf1 t~~. IhC Ok~Illhl)'
pa>mrnt, undtr ~hr Irrm~ uf thr nut~ .~tiuntil herrh~, un the lir,t Jay uf ra~h munth until thr .aid nutr full~ p:~iJ. ~ill p;~~ tu th~
muitgag« 1hr fi~liuHin~ +u~tt~:
Ia? An um~wnt sufficirn~ ~o pruv~Je thr hutder hercof with fund~ t~~ pay the nrxt nx~r~gage inwrance prrm~um if thi, imtrun~nt anJ
the nutt xtu~rd htrcby are insured, ~ a m~~nthly chargt lin lieu of a mortgage imuranca prrmium? if thty arr hrld by the
Sctiretary of Nousing and Urban Developmrnt, as foltuw~s:
11) It and sw lung as s;iid rwte of even date arxf thi~ i~~,trument are insurcd o~ are reinsurrd undrr th~ nruvisiuns of tht
National H~usine Act, an amount suflicient to accumulate in the hands of the holder ~me I li month ~x~or to itsJur date the
annual rtwrtg:+gt insurarn.r premium, in orJer ta proviJr cerh holJer w'~1h lund+ ti~ pay ,u~h prcc~iiuiu tu thi: Srcre,arp af
Huusing and Urb:~n I.~velupm~nt punuant tu tht Natiunal Hau~ing Ac~, as amendrJ, :?nJ applwable R~gulatiun+
thereundrr; or
1111 If anJ w long as said nute af even date anJ this instrument are hrtd hy~ the Secret~ry oi Housing arxf Urban Ik~•rlupment.
~ nwn~hly charge lin lieu af a murtgage inwrance prrmiuml which ,hall t~ in an ~m~w~t ryual to oneawrliih 111121 uf
one-half 1'~'=1 ptr centum uf the averaga outstarxiing balance Jue un thr notr computed w~thuut taking mtu axount
Jelinquencie~ or prtpaymrnes;
Ib) A sum equal tu thr grourxf rents, if any, next due, pluc thC prrmiunx that w~i11 next become due ~nd payable un ~licies of fire
and uther haz:~rd insurance covering'tR~ finMgSgCQ jtiR~pc~Tty, plus ta~es anJ aa~ivme~t+ nrxt due on thr mortgagrd property (alt
as c~limated by the mortgagee) less all sums already paid therefor diviJed by the number of months tu elapse brfore one month
prior tu the datr when sucA gruund rents, premwms, taxes, and :u~s.imrnts will becomr delinyuent. ~uch sums to be heW by
rtxir~g:igee in trust ta pav said grou~J rents, premiums, taxzs, and special auessments: and
(c? Ail ~+aYments mrntioned in the iwa preceding subsections of th~s paragaph and all payments tu ba made urxier thc n.~te secured
htreby .hatl be added togethe~ and thr aggrebate am~~unt thereof tihall be paid by the murtgag.ir rach month in a~ingie psymrn[
to b~ applied by the mortgagee to the folluwing ~tems in the urder set fo~th:
It) premium charges under thr cuntract of insurance Nith the Srcretary of Nou~ing and Urban I~~~rlupmrnt, or rtx~nthly
charge lin lieu of m~Ktgage insurance premiuml, as the case may Ix;
111) ground rent~, taxes, astessments, fire, and othe~ ha~ard inaurance premiums;
ti111 interest on the nae secureri hereby; anJ
IIV1 amortizatiun uf thr principal of said notr.
~ny deficiency in Ihe am~wnt of xuch ;~ggregate munthly p:?ymrm shall. unlt,ti made gu~xl h~• the murtgagur priur tu thr du~ Jetr uf
the ne~t wch paymenl, constiwte an rv~nt af default under this m~xtgage. fhe mortgagea may cullctit a~~I~t< <hargr" nut tu r~~c~J t~u
rents 12c1 for ea~h ~killar IS11 uf exch payment more than filt~en tlSl days in arrears tu ~u~rr Ihe eatra rxpen.r imulved ~n hsnJlin~
Jclinquent payments.
3. That if the total uf th~ paymrnts made by the mortgagor under Ih) af paragraph ' praY~d~ng .hxll r~.rrd th~ anwunt uf tht
p~yments actually m:xie by the murtg~gee, fur gn~unJ rents, ta~c~ and ascestimen~, a~d in,urnrne prem~um~. :u the ~~~r may t?e, such
excess at the option of the morigagee, shall, be credited on subsequent paymenls to be made by the mortgagor, or refunded to the
tn~rtgagor. If. however. the manthly payment+ made by the murtgagur unJer Ihl uf parxgraph 2 preceJing ,hall nut hr sufhcient to p:?~
gruund rent<. taxes and as.essmenls anJ in~urance pr~miums. ~s ~he ra~e may ba. when the wme shall brcume due unJ payablr, thrn thr
m.xtgagor chall pay to the m~~rtgagee any amoum ncYris:?ry tu make up the drticie~x~~, un ~x tkfure the datc uhrn pa}ment of wch
gruunel rentc. ta~es, ac+ex+mentc. or imurancr premiumc +hall be due. !f at any ume the m~xtgagar shall trnder to the murtgsgee m
xcordance w•ith the provicions uf the note ~rcured hereby, full payment of the entire indebt~-~ineas reprnentrd ~hereby, the rtx?rtgagee
whali. m c~~mpuung tne am~un~ ui ,uCiY ~iiucvi~v~:c.,,. ' " , . . .
.~Cu:: i:t : : a'.~~ _p~c si~ ..yt......nt~ m-..1.- ~~.vic~~ ~?u~ nrnvi~tnrla u~lu1
uf paragraph 2 hereof which the mortgagee has no! hea~me ohligaie~l lo pay to the Secretary uf Huusing arni l;'rban Drvrlupment anJ an~
balance remaining ~n the fund+ accumulatatii under thr pr~~vi.ium i~P Ib/ ..f ,aid paragraph If therr .hall br a drf:~ult under any uf the
pru~i~iuns uf thic mortgage. re~ulting ~n a public +.dr uf thr p~rmi~c, ruvend hrrehy, ur if thr murtgagre acyuire, thc pruperiy otherH i~a
after default, thr mortgagee shall apply, i~t ~ha timr uf the c~.mm~ncrment uf wch procrrding. or at ~hr time Ihr pruprrty i. ~~thrn~ ~.e
.n:yuirrd. the balance thrn remaining in thr fun~k accumulated under Ib/ oC parabraph 2 prc-~.~tiiing a, a creJit ag~in.t thr amuunt of
principal taen remaining unpaiJ under ,aiJ n~~t~ anJ chall pruperty adjutit any pa}menn ahirh tihall ha~•e t+een maJe under 1~r) uf +aid
paragraph.
I ~1:11 Il~ NIII F1S)' :III I"3XCS.:11\C'1\fi11I111, N;f(~( f;l(C1, :1:11I U(FICi gUYt(I7fI1CI11a1 ~~r municipa! ~har~;e,. finr~. ur im{M~.itiun.. fur ~hich
pruvi,iun ha. not been made her~inhrfi~re, and in Jefault thrreof the m~~rtgagrr m~r pay thr ,:,mr: :+nJ that he ~~il) pmmptl~ drli~~r thr
~~f6rial rrceipt~ therefur t~> thr murt~.?ge~.
5. I~hat hr H ill permit. commit, or .utier no ti.•a+te. impairmtnt. ~x Jetc~iu~a~iun of wid pn~perty or :~n~ part thrre„f: a~d in the rvrnt
uf th~ 1~ilurc of the murtg~gur tu k~ep the buildinK~ un ,aid prtmi+~~s and thux to be ~rrcteJ on ~id premisc:s, ur imprv~rments therrun.
in gix~J rep•rir. !he nwrlgagre may mal.r .uch repair~ a. in it, ~i~cretion it may deem ncti;~~tiar~• fix the pruper presenatiun thercuf, and
thr full anwunt uf exh and every.uch pa~ment.hall t?~ immc~fiately Jue and pagable, arni shall be u^~urc~i by the lirn uf thi+ m.xtgage.
b. -~hat he Nill pay all anJ tiingut:+r the c~ls, chxrges. ancf e~pem~y. inctuJing rea~onable lawyer's fees, and cosls e~f ah,tracts uf title.
in~urrctii ur paiJ at any timr by thr n~~rtga~,re bc~au.c uf thr failure un the part uf the rtx~rtgagur prompth and fully a. perfi~rm the
:~grerment..?nd covenantti uf .aiJ prom~„ur} n~~te anJ thi~ mvrtg:~ge_ anJ ~aid c~nt,. ~h~rge~. arxl exp~rt~cy ~h:Jl tk imm~d~ately Jue and
pay.tble ~nJ ~h~tl hr secureJ by the tien uf thi, mortgagr.
i. I hat he wi11 kerp the impruvrments now existing or hereaRer erect~d un the m.~rtgagcd pruperty_ imur~d a. ma~ bc reyuireJ from
hmr to timr h~ the murteagec agaimt lo» b~ firr anJ uthcr harards. cx,ulatic~, and ~unt~nsencie+ in +uch amuunh anJ fiu wch pe~ioJ-. a,
ma~• be reyuired hy murtgagee. and ilt pay~ pmmpdy. µ hen due. any premium~ un cuch insurance fe~- p~yment af uhich pru~ i,i~~n ha~ not
been made hereinbeCore. All insurance shall t+e carried in companies approved by mortgagee a~xi the policies ancl renewals thereof shall
tk hclJ by murlgage~ and have at~acheci lhereto lixti payable clau~ts in favur ut~ and in furm acceptahle tu the rrx~rtgage~. In e~~rnt of 1.~..
he w i1I gic~ immediatr nutice by mail ro mortgager. anJ murtgagee may r~~ake pruuf uf lu.. if nut made prumpll}~ b~ mortgagur, and tach
imurance cumpany ri~ncerned it hrreby authureied anJ Jirected to makr payment fur cueh Irnc directly tu murtgagee inst~ad of to
nwttgagur and m~~rtg.iger jainUy_ arxl the i~surance pnxeeJs. or any part there.~f. may be applied by mortgagre at its aptiun either tu thr
reJuttiun of the indebtrJnr,s hereby xtiurcd or tu ihr re+turation ~x rrpair uf the property ~c~m:iged. In evrnt uf forcclusure of thi~
murtgagr or uther tramtri uf tille.to the mortgageJ pruperty in e~tinguichmrnt uf thr inJehteJnrtiti .ecur~~l hrr~h~_ all riFM. tide, anJ ~
interest uf the martgaeur in anJ to any insura~ce policie~ thc~ in f~~rce +hall p:u~ w the purcha~er ur gr.~nt~e.
A. ~~hat if th~• pr~•misc~s, or an~- part th~~eo(, be ~ondemned unJer an~• poccer of ~minrnt ~lursiain, or :i('f~UifPd ior a puhlec ~i~e•,
' the ~lama~c~~, proc eed~, and the contiideration tor such acquisition, to the ecteot o( the (ull amount uf indrht«~~1n~•~s upon thi~
\Iort~aRF,andthr~~~t~~ sf~cureA hcrebv r~tz~ainin~ unpaid,are~ herebY assi~ned.h~ the ~IortRaeor tuthe~ \lort,a~~•~• an~l shall Le p;ii~i
forthn ith tu th~• Ilortra_ee to be applieii b~- it on account uf th~ indehtedn~s~ sec~r~d h.~re•b~, ~chrlhe•r d~r ur not.
9. `fhat ~hr mortgagrr may. at an} time penJing a,uit upun thi~ murtgage. apply tu the tuurt h:?cing juri,Jicti~,n thereuf f~~r thr
appuin(mrnt of a rrceiver, anJ w.h court ~hall furihw ith appuint a re~eiver of the premist~ ~u~rrcJ hereb~ :~II and singular, in~Iuding :ill
and ~ingular Ihr incume, prufih. i"ues. and revenue. frum µhatrcer x~urce Jerived. rach anJ e~ery uf which. it txing ezpreti.l~
unden~ntxl. iti herehp mortgaged a, if .pctiiticalh~ ~et furth :?nd dc~urihrd in the granting and hat+enJum clau~eti hereuf. :~nd ,uch re:ri~~er
shall havt all the hroad anJ e(fecti~~e functi~~n. and po..ers in anywi~e entrusted by a court ~o a receiver, and ~uch appuintment ~hsll ~
madr hy ~uch court a~ an admined ryuii) and a mat~rr uf ahwlutr right to +aiJ rrwrtgagre. anJ uithuut refrrer?cr tu thr xJryuac~ or
inaJequacp of the ~•alur of the pruperty nwrtgag~tii ur to thr ,olvrncy or insohene~ of >aid murtgagur ur the defendtnts. anJ that ~uch
rrnn. profits. income. i~sueti. and revenuec ch;~ll be applied by .uch receiver according to the lien of thi. mortgage and the practice of wch
court. In the evrnt af any defautt un the part uf the rrn~rtgagc~r hereunJer. the murtg~gur agree+ tv pa~ tu thr m~xtgagee un demanJ ac a
rra,unablr munthly rental for the premi~e+ an amuunt at Irast equivaleni to une-twelfth I lll?1 vf thr aggregate uf the twrlve nx~nlhl~
in.tallmentti payahlr in the theo current }•ear plus the actual am.~unt of the annual ta~e~, a.~e+~mrntti. water rate~. and imur.~nie premium.
fur ~uch }~rar nut coverrJ by the af~xesa~d monthly paymentti.
1p, lhat Iu) in the event uf any hrrach uf Ih~s murtgage ur default un the part .if thr rtu~rtgagur, ur 1h1 in Ihe e~rnt that an~ uf ,a~J
sumc of mooey hercin referreel to be not promptly a~d tul!y p:~id without Jem~nJ or noucr, i,r ~i 1 i~ thr evrnt that ~:s~h anJ e~rn the
~upulauum. agrecmentti, cunJition.. and covenant~ of,ai~ nute and thi~ murcgagr, arr nut dul}. prum~tly. a?td full~ prrfurmrd: thrn in
rither ur :~ny ,uch event. thc wiJ aggrrg~te ~um memiuneJ in ,aiJ nute lhen remainig unpaid. w ith intere~t accrutd tu that timr. anJ all
rtx~nr}..ctiured hrreh}. .hali t+ecume Jur and pa~ahle furthw i1h. ur thcreafter. at 1hr uptiun uf tiaid mortgagee. a~ fully :mJ cumpletel~ a,
iC all uf the vid .um. of muney were originally s~iputated t~~ tk paiJ un ,uch Jat. am thing i~ +aid nute ur in thi~ nwrtgagr to the runlr:~r}
nulwithtlanJing: and Ihereu~~n ur thercafter. at the opt~on of .aiJ murtg;~gee. withuut noti~e ur drmand, ~uit at IaH or in ryuity. map tx
pnne~utcd a. if all nwney. ~rcurcYf herrh~ had maturetl pnur to it~ ~natituuun. The murlgagre ma~ foreclutie thi. martgage, ati to thr
amuunt ~o declared du~ snd pa)aMr. anJ the ~aiJ premi~c~ ~hall be wIJ to ~sti~fy anJ pa~ ihr ~mr tugether with ii»t+, e~prnsr~. ~nd
alluwancr+. In case .•f partial foreclu~ure uf ihis mixtgage. thr mortgageJ premitieti .hall he x~iJ wbjrct tu the continuing lien of this
m.zrtgaRe for Ihe :~muunt „f Ihe drhl not thcn Jur and unpa~d. In .uch :atir Ih~ pn~vniiim of Ihi~ paragraph may again he avail~d uf
thrreafter frum ume tu t~me b~• the mortgagre.
I 1. fhat the rm~rtgagur w ill gi~e inimediatr noticr h~ mail t~~ thr m~~rtgagre ~ii :~r.~ cumr}arxe. ~ramfer, ur changr uf uwn~r,hip uf
thr premi~rti.
13. fh~t nu Nai~er uf any~ cu~enant hrrrm ur ~d thr ~~bligation se~urrd hereh~ .haN at any t~me thrreafter he heW t~~ he a waivrr uf
1he Ierm. herr~~f ur uf the note ~e.ureJ hereb~.
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