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fh:~t, in urdtr nw~re lully t~~ prutitit Ihc .e.un~y uf Ihi~ murtgagt. ~hr murlgag.rr. tugrthar Nuh. :utJ in adJiuun tu. ~h~ ni.~nlhl~
E.:i~inrnt, u~edrr thr irnnc ~.f thr m~~. .rrurr.l hrrrM. un the hi.~ day uf rach mun~h un~il ~hr ,aid n.~~~ i, lidly p:ud. Nill p:~c tu thr
mi~rtgagrr thr fi~Uuwing ~umc
1~1 an artxwnl wffxient to provide the hoWer htreof wilh fundc tc~ pay the nrxt rtwrtgage insurancr prcmium if thi. imtrum~nt anJ
the nole ~ecured he~eby arr inw~ed, or a monthly chargr lin lieu a~f a mortgage imu~ance premiuml ~f they are hrlJ by thr
Secrctary of Housing a~d Urban Development, as follows:
111 If snd w tong as saiJ note of even date and thic instrument 3re insured or arc rrimurnl u~xler tht provicium uf ~he
National Housing Act, an amount sufficient to accumulate in the hand. of the huWrr one 111 month prior to ~ts due Jate thc
annual mortgage incurancz premium, in o~Jer to prov~Jr ~uch holdtr w~th fund. ti~ pay wch premium to ~hr tiecrctary uf
H~~using and Urban [~velupment pursuant tu the Natiun~l Housing Ac~, as amrnJrd, urxl applkahle Rrgulat~am
thereunder; or
111) If and w lung a+ ~:+id nute of rven Jatr ~nJ thi+ imtrumrnt are held by thr Secre~ary of Housing and Urban Ikvrlupmenl.
a rrx~nthly cha~ge.lin lieu of a mu~tgrge imurance prcmiuml Nhich .hall be in an am.runi ryual to unr-twrlt~th 1111'' uC
onr-h~lf l~) per centum uf the averagr out~tanJing balan~e Jur un the ~ute ~umput~til withuut taking int~~ aauunl
delinyuencits or prep3ymtnu;
Ibl A sum equal ta ~ht gruund'rents, if any, ntxt Jue, plus tha prrmiums that wil~ next t~rome t~IIC :IfHI F1:ly8hlt OII POIICI@t Of PIfC
arxi other ha~ard insuraace coverrt?a theti+xxtga6ed-propenY. plus tates and a_+set~rt?~nt, ne~t Jue un the mur~gageJ praperty lall
as estimated by the mortgagee) less all sums already paid theref~x dividc~i by the numt~r uf munths ro elap.e lxiu~r onr munth
prior to the date when such grou~xl re~u, pre~nwms, taxzs, and as~y,.ments will becumr delinqurnt, such ~ume to t+e hrld by
mortgagee in trus! to pay said ground rtrtts, premiums, taxes, anJ .pecial aacecsments; anJ
~c~ All payments mentioned in the two preceding subsections of this patagtaph and all paymrnt+•to be maJe unJer the note szcureJ
hereby shall be added tugethar aad the aggregate amuunt thzreof +hall be pa~d by the murigagur r:,ch munth in a.ingie pu~ nknt
tu be applied by thc murtg~+gee to the f~.ll~~Ning item, in thr urder set furth:
lU premium charga under the contr~ct of irourance with the Secretary of Housing and Urhan ikvelop?nrnt, or nxmthl~•
chargt !in lieu of m~xtgage insurance premiuml, as Ihe cace may be;
lll) ground rents, taxe., assessments, fire, anJ othrr haiarJ in~urarx:e premiums:
Illli interest on the note+ecurctil herrby; and
11~') amortization of the prirn:ipal of said note.
~ny deficienc} in the amount uf ,u~h aggreg:~tr nwnthly pa~ mrnt sha1L unlr.~ madr gu.xl hy thr murtg:?gur pnur to tha .lue Jatr .~I
thr nt~t wch payrnznt. cumtitute an e~rnt of Jefault un~rr thi, m.+rtgage. ! hc murtKagre ma~ colhtit a~~l:ar rh:~rbe" nut to ~~c«d tNo
cents 12c1 for rach Jollar /S11 of ruch payma:nt mure than fittr~n I lil da~~ in :urrar. tu.u~er th~ e~tr~ r~{xm~ invul~~-d in han.lling
.!rlinquent payments. _
3. That if the total of the paymrnt. maJe by ~hr murtgagur under !hl of paragraph = prc-~r~ing ,h:dl e~~r~vi thc anx~unt uf the
paymenn acn~ally made by thz mur~gag~e. fur ground rent~, taxcy anJ as~r..mrnt~ and ~mur.~n:r pr~m~um~. a~ th~ ~ax may tx. ~uch
excess at the option of the mortgagee, shall, be credited on subsequent payments to be made by the mortgagur, or refunJed to the
rtx~rtgagor. If. hoNe~•er. the nwnthl~• puyment~ maJe h~ thr mongagur under 1h1 uf p:uagraph 2 pr~ti~Jin~ ,haU nut tk sufh~iint tu pay
eruuod rents, taxc~; anJ as,rs~mrnls and insurance prcmium~, as thr es~e nt:?y be, whrn the ~:?mr,hall becumc ~ur and pa~ablc, then thr
murtgagur shall pa~• to Ihe mortg:~gre any amuunt n~a:e~san w mal.e up thr .Icticien~:y, un .K hrfure ih~ dat~ ~~hrn pa~ mrnt of .uch
cround rents. taxes. asstssmrnts, ur insuran~e premiums ,hall t+e du~. If at any t~me the mixtgagur ~hall trrxi~r tu thr murtgag~e ~n
accorJance w•ith the pro~•isi.~ns uf ~he nole ~rcurcd hrreby, iull paymrnt uf the r~tirr ir?deMr.lne.s reprr,ent~J th~reb~. the m.xtgagre
,hall, in ~om~?uting the amount oisuch indebtc-~inr~., crrdit tu thr :?ccuunt uf thr murtbagur all paym~nh ma~lr unJtr the pru~i~iuns uf 1~r?
uf para¢raph'_ hercof which the murtg~ger has n~~t hrcumr ubligatrd tu pay tu tht ktiret~r} uf Huu+ing and l-rh~n Uevrlupm~nt :~nJ any
halance rcmaining in thr funds arcumulated under thr pruvi,ium of th~ uf ~aiJ paragraph If thrr~ ~hall h~ a J~f:?ult unJrr :~ny uf ihe
pruvitiium of thi. mortg~gr. resulung in a public ,ale uf th~ prcmnr. ~u~c-~ti1 hrrch~. ur i( thr m~K~gag« acytrircy Ih~ pruprrt~ .~therH i.~
after drf:wlt, the murtgag~e +hall a{+~+1}. :~t thr timr uf the cumm~ncrm~nt uf ~uth pru.rrdin~;~ ur :~t thr timr ihr pruprrty i, othrn+i,e
acyuirrJ. Ihe balance thrn remaining in the funJ. ac.umul~t~Yf un~rr ib~ af par.~graph prci~yling a+ a~re~lit ag:umt thr amount uf
pnn:ip:+l then remaining unpaid undrr wid note and tihall properly adjust any payments whi~h sh:Jl havt t+~en maJe under I~r) of ,:ud
p:?ragraph.
J. Ihat he .v~fi pa} ali tatcs. a~se++mcnt~. Hatrr rate.. and ulhri guvrrnmcnt.~l ~li iiAiliilljl:il :r:ti~l'~. =ii1C~. i1( :m~x~.:tios:.. fur ~ihi.h
pru~~.~un hat nut hren made herrinhrfure. ~nd ~n Jrfault ~hrrc~~i the murlg:tgr~ ma~ pay thr+am~: :~nd th:~t h~ ~~ill prun~tl~ ~rl~~rr thr
~~fficia{ re~eipt. therefor to the mortgagte.
5. ~hat hr w~II prrmit. commit, ur suffer nu w~~te, impairment, cx dr~eriuratiun uf tiaid pru{+rrty ur any part thrrruf: and in thr ~~rnt
,~f thr failurc uf thr mortgagur to keep the huilJings un said premi~c. and ih.»r to he erc.ted un ~aiJ premi.e+, ur impru~rairnt. th~reun.
in g~tixl repair, the nwrtgage~ may male such repair, a~ in its Jiscretii~n it ma~ deem ncYec+ary for the pr.~per prr.rnatiun thrrcuf. ~nd
the full ~muunt uf ~ach and e~~ery such pa> ment shall t~e imme~fiatel} due and payable. anJ .hall iK xtiu~rd M the li~r. ui thi, rm~rtgagr.
6. That he w ill pa~ all :~nd tiingular the cutits. charge,. and r~pen.e.. inrluding ~~a,onahl~ la~~arr', f«ti. and cu~h uf aMtract~ uf t~dr.
! ~nc. .cd ar paid at an~ fin~ by thc rtx~rtgagee he~au+e uf the failure un ene psrt uf the murtg;,gvr promptly and full~ t~~ ~xrti~rm ~h~ _
j .?grcement. and covrnants ~~f caid promi~tior~• note and this murtgage. and tiaid cu+t,. charge~. anJ r~pem~~ .hall hc immr~ia~el~ Ju~ and
~ p~} ahle and ,hall bc ,rcured by the lien uf this mortgage.
~ ~hat he will kerp the impruvements nuw.e~i~tinK or hrrcafter errcte.i un Ihc murtg:~grd pruprrt~~. ~nwrrJ a. ma~ h~ requir~~1 frum
! time tu timr by the rtwrtgagee against lucs M fire anJ ather hazard~. casulatic~. and contingencie. ~n ,u~h ~muunt, an.l fur wch peri~xt, as
ma~ i.e requirrJ hp murt~agee, anJ w ill pay prumpU~. hrn dur, an~ premium~ un wch in;uranc~ far pa~ mrn' uf ~+hich provi~ion ha~ not
~ been made hereinbefore. All insuranee shall be carried in companies approved by mortgagee and the policies and renewals thereof shall
t.r h~W by murtgagee and h:~~~r auachnl theretu I~n~ payable claux~s in fa~ur uf and in furm :~cc~ptable tu the rrxmgaga In e~•rnt of loss
t he u ill give imm~diate noticr by mail tu mortgagee, and murlgagte ma~~ mal~ pnK~f uf luti~ if tx~t m:+de pr~~mptl~ b~ m~xt~agur. anJ each
~ ~murarxe rnmpany cuncerneJ is herehy authorized anJ directeJ tu make payment for ~uch lixs direcUy tu nwrtgagee inaeaJ uf tu
, nwrtcagur ~nd mortgagee juintly. anJ the in~ur.?ncr pnxred,. ur am part thereuf. m.?~ be appli~J hy murtg:ig« at its upuon rithrr ta thc
reJuctiun of the inJebtedne.. hereby .ctiurrJ or to the re.tur:+liun or repair of the pruperty dam~grJ. In e~rnt uf foreclu.urr uf thi.
m~~rtgage ur ~ither tr:?n+fer uf tiQe to the murtgageJ pre~perty in e~tingui.hmcnt of the in~~hteJnr.. .e:ureJ hrrrb}. :dl right. tidr. and
~ ~ntrn,t uf the mortgag~x in and to any inwranec Fxdicies then in fi~rcr shall pacs to the punh:s.er ur er.~ntrr.
r 8. 'That i( th~~ premises, or an~• part thereof, be condemned under an~- po.ver of c•min~•nt d~~~~~a~n. ur a~•yu~re~~i ior a puhlic u~~•,
~ the dama~e~, proceeds, ;~nJ the consideration for such arquisition, to thr exte~nt of thr [ull ar:ount u! indrLtc~~lne•~s uEwn ti~i~
~1ort~a~r,andthe~otc• .ecured hereh~ rFinainin~ unpai~l,.~rr~ herebc as.~rne~d b~ the• 11~~rt~:~~or ~oth~~ ~l~~rt~aerF~ an~i ~h,ill L~• p.~i~!
~ tur?h~.i~h io the ~lort{taee~ to be applie•d b~ it .,n ac~count o( thr indel~tedn~•~~ ure~d h~~n•b~, ..h~•~hrr due• ur not.
~ 9. That thr murtgagee ma}'. :~t .im timr pending a~uit uExm ihi, m~~rtg~ge. appl} tu the court ha~'in~; jtui.~Gc1~~~n thrreuf for the
4 .~pEx~~ntment uf a re.river. anJ wch cuart .hall furth~ ith ap~~int :i receir•rr of the premi.e, cu~~ered hrrrh~ :Ji :cml .ingular. ~nrluding :JI
4 .inJ ~ingular the income. prufit~. i~+ur~. and revenue. frum ~hate~er v~urce deriv~d. e~ch :+nd r~rry uf which. it heinF t~prc~>h
~ understoixi. is herehy mortgaged ac if +p~tiificall} .r~ furth and J~~xribeJ in thr granting :+nd hahrn~um clau,c~ hrreuf. anJ ~u~h r~tieivcr
ah.ill ha~•r all the bruaJ and etTnt~~•e funcu~~m .inJ puwcr. in anyw i~~ entru~teJ by a cuurt tu s rect~~c~. anJ ~uch appuirtAtt~nt .hall he
made bq +u~h cuurt an :?dmitteJ rquit~ anJ a maUCr uf ab.ulutr righi to ~aid murtgagte- :+nJ withuut rrferen~e ta the ad~~yuac) +~r
' in::.lryua~y of the value uf lhe pruprrt~ murtgag~d or tu the wl~rnc} or imolven.:} of ~aiJ rtx~rtgagor or the defenJ~nt~. and tha~ ~uch
~ rcnts, profits. income, i~sues. anJ re~enues +hall t+e applied h~~ wch receiver s~cording tu the lien uf th~, rtxutgage and thr pr•rctice of ,uch
:uurt. In the e~'ent of any defau4 un the part uf thr iix~rtgagur hrrrunder. the murtgagur :igrec~ tu p:~~ t~~ thc m~~rtgager un Jrm~~d :is a~
~ rra.~~nahle munthly rental for the premi~e~ an amuunt at ks.t eyui~alcnt tu unr-t~~rlfth ~ 1/1_~ uf Ihr aggrcg.~te uf th~ twcl~r nxmthl~
_ imtallment~ papablc in thr then current ~ear plu. thc acwal amuunt of the annual taxrc. a,~e..mrnt.. ua~rr iate.. a~d ~mur.~nce premium~
G~r ~uch }ear nut co~ered by the afcxe+~id mu~thly p:+~mentc_
~ ~p, That (ul in the erent of any hrrach ~,f thi~ martg::ge ur dclault un thr part uf th~ rrx~rtg~gur. ur Ih1 in thc evrnt that an~ uf ..uJ
wms uf muney herein referrrJ tu be nut pr~mpUy and fully paid withuut ~emanJ ~~r oaucr. ur I~i in thr ~~rnt thnt ra:h and e~cn the
.t~pulauun+. agreemrnts, conditione, and coven:?nt+ uf .aid note and this murtga~e. are n~~t duly. prump~ly. :inii full~ ~xrfurm~d: thrn ~n
erthrr or :iny ~uch event. the .aid aggrrgate sum m~ntiunrJ in caid notr then rem:+inig unpaiJ, with intrre,t accrued tu tha! t~m~. and all
- nx~ne~~ ,e~ureJ her~b)~. ~hall bc:come Jur and payahle furtha rth. ur therrafter. at thr ~~+ti~~n ~~f .a~d niurt~,~gre_ ati fulh and cumpleteh
" ~f all uf the ,:?id ,umti of nxme~• were ong~nally .upulated tu tk paid un ,uch daq. an} thin~ in ~aid nute ur ~n thi~ nxirtgagr tu Ihr amtran
nut~ith~tanJ~ng: and thereupon or thereaRer. at the ~~pti~~n uf .aid murtgagre. wuhout not~c~ ur JrmanJ..uit a! I:iN or in eyuit}. ma~ br
_ pru,erutrd as if all rrnm~~~ SecurrJ hereby had matur~~i priur to it. imt~tutiun. ~h~ rm~rtgagrc ma} I~xe~lo.e thi. nwrtgagr. a~ tu th~
~ artwunt w Jecl~rcJ due and pa~~hle. :~nJ the .aid prem~ses +hall be wIJ to ~ati~fy and pa~ thr u~me tugethrr Nith c~~~t.. r~{+enKC. and
allu~ancec. In wsr uf partial forecl.nure ~~f this m~~rtgage. the m~~rtgagrJ precni~r~ +h:sll he v~IJ .uh~~tit tu the cuntmuing lirn ~~f thi+
rtx~rtgage for thr am~~unt uf the deht not then Jue :+nd unpaid. In wch ca~e th~ pru~~.ium uf th~~ par.~graph may ag:~in t+e a~ailed uf
therrafter from timr to ume hy the murtgager.
F~; I 1. Th~t thr mur~gag~,r w ill gne immeJiate nuutr h~ m:~il t~, thr m~~rtga~,r~ ul en} c~,meyance. tramfrr. or ~hang~ ~~f ~,~ner.hip ~,f
the premicr..
12. ihal nu Naiver uf any cuvenant herrm ar uf the uhligatwn ~iYUreJ herehy ~hall at am Ume therrafter he heW to he a waiver uf
kti
the trrm, hereuf or uf the n~~tr ~ecurrd hrrrh~~.
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