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2. ! hat, in orde~ nwrc fully cu prutctit thr .rcur~ty ~~t th~~ nwngagr. ~hr nwrt~;:~gur. tugrihr~ N,~h, aiui in adJitiun 1u, ~~r nw~nthl~
payments unJrr thr ~erm~ oi ~hr nutr .tcur~d hrrchy, un Ihr tirsl Jay ul rath mun~h uoul Ihr .:uJ n~~~~ tully p.uJ, N~II pay tu thr _
nluilgag:r thr li~iluwing.um.:
Ia) An anx~un~ wffi~innt tu pru~•ide the holde~ hereof NnA fun~l. tu pay thr nrx~ r?xxigagt ~ntiur~ncr prrmium ~tthi~ in.trumrnt and
ihe notr +ecured htrrhy are ~nwrrd, ix a monlhly charge lin (iru uf a murtgage in+uran~:e pr~m~um/ if thty arr held by the
Sc~relary ut Housing and Urbun (hvrlupment, as folk~w~:
111 If and x. lung a~ wiJ notr of' even Jate ancf this iaslrument are ~n+urcKi or are rein.ured undrr the provhiuna uf the
Na~ional Huu~ing Aet, an amount ~ut'licien~ tu accumulate ~n the hands of tht IwlJer o~c l U munth ~ior to ~ts dur datr th~
annual m~xtgagr in~urancr prrmium, in ordrr tu pruvidr ,u~:h h~ildrr wuh tundr to pay .uch premium ti~ th~ k~ret:uy of
Huusing aad l.rb~n [~vtl~~mrnt pur~uanl to thr Natiunal Huu.ing Act, a. :?nxndrd, arxt 31F1~fIKJI~It Rrgulauum
thrreunder; or
1111 If anJ w long a+,aid nute uf even Jatt a~xi ~hi~ instrumrnt are hrld by ~hr Secrelary of Nou.ing arn1 Urban [hvrlupmrnt,
nwnthly charge Un I~eu uf a murtgagc imurxnrr prcntium) Nht~h .hal1 !x in an amuun~ ryual tu une-IMeI(lh I lf 1'_1 ul
onr-half 1' ~ 1 prr czntum uf ~hc av~rsgr .~ut,ta~xling b:ilanct Juc ~m thr nutC cumputtvi w~thuut ta?ing ~nto a~tiuunt
Jelinqurncie. ur prepayments;
Ib1 A.um eyuat tu Ihr gruurxl rrnts, if any, next due, ptus the p?rmiumti that will n~xt t+ecumr Jue arxi pa~ablr ~~n {x~lic~~t of fire
and other hazard incurance covering the mortgagrd property, piw taxrs a~d aue~smenlti next due un thr murtgag~Y1 pruperty Iall
a. ~~umatrd by thr awrtgagcel le.s all sums already p:tid therefor dividtd by the numhcr of rtanths to elapse btfure une munth
priur to the d~te when su~h gruurxi rents, premeums, t:ues, arxf :ustssments will hc~:ume Jelinquent, ~uch ~umc to t~ he1J by
mortgagrr in truct tu pay SaiJ gruund rents, premiums, taxrs, and special a~cessmentc; anJ
Icl All payments memioned in the twu preceding subsectiuos uf this paragraph a~sd all payment~ to be madt uneier the note srrurcd
herchy .halt be addeJ tugrther •rnd the aggrega~e amuum thrreuf ~hall be psid by the mortgagur each munth in a~inglr payment
iu be appued i+y ~nr mu~ig.~~2~ i.~ ihc ia:liiu:ng .Srm1 :tt !he ~~[Jer ~et f~xth•
111 premium chargr, under the cuntract uf ~ntiur.~nce with the Secretary uf Huu~ing and Urban [kvrluprnent, ur rrx~rohly
charge fin lieu ~~f m~xtgage insurance premium), as ~he case may tx:
1111 ground renu, t:~x~y. :u,e+~ment~, firc, and othrr h:~a:ud mwrarxe prem~um~;
11111 interr~t un the note ~rcurcY! hereby; and
ftVl amortizaHOn of ihe pr;ncipa! of caid note.
:iny Jrtirirrtcy in th~ artxwnt uf w.;h aggrcgat~ munthl~ pa~m~nt ,h.?11, unk~~ maJc guuJ b~~ th~ murt~;ag.~r priur tu the du~ datr uf
the nrxt ~uch paym~nt. ~.?mtitut~ an ta~nt .~f d~iauU un~rr thi, m~~rtgagr. 1h~ murtgagr~ may ~ullcti~ a 1aR charb~" nut tu r~c«J tau
cnnt+ ~2c1 fur ~ach Jol(ar IS11 ul ~s~h pa}mrnt mur~ th.m tiGrrn da~+ in arrran ~u cucer the r~lra r~Mn.r imuh~J in handling
delinyu~ot ~wymrnt+.
3. fhat if the tiu:J uf the paymrnh madr hy ~hr murtgag~~r un~~r ibl uf paragr:?ph 2 pr~~irJing .h:~ll c~crrJ thr :emuum uf the
paym~nh actuatly made M• thr mortgagrr, fur gruund rrnt~. ;ax~-. and a,.r++inrnu anJ imur:,rke prcm~um+. s+ the cux mry be. ~uct.
eacess at th~ option of the m~xtgagee, ~hall, be credite~i un sub~equtnt payments to be made by the mortgagor, or refunded to the
rrwrttiag.rr. If, huwever, thr nx~nlhl~ pa~m~nh m:ti1r by thc mortgagur unJ~r Ihl of paragraph ~ prcv~Jing ~haN n.~t tx .ufhcient tu pa~~
ground rentt, taxe, and a~+~„ment~ and imurancr prcmium~. a~ thr ~asr may t+e. Hhen thr wmr ~hall t+ecumr Jue anJ payabl~, thrn thc
rtwrtgagor ~hall p-sy t~~ the murtgag~r an~ amuunt n~ti~,~ary tu maAr up thr Jr(nien~y. un ix hrl~~xc thc datr when papmrnt i~f .uch
grourx! rrnt+, taxe;, a~k.~mrnta, ur imur~n~r premium, .hall tx: duc. If at any umr thr m~xtgagur .hall t~ndrr to the murtg:~grr ~n
;u;curdan~e with the pruvi~ium of the nutr +ccurrd hrrrb~. full pa~ment uf thr cntirr indebtnlnrss rcprr~rntrd thrreby, the rrkirtgagee
shall, in cumputing Ihe am~unt uf ~u.;h inJebtrdn~,,, cr~ylit tu th~ arcuunt ui the moribagix all paymcnt~ made urxitr the pru~ isiun~ of Iu1
of par;,graph 2 hcreuf Nhi~h thc murlgagcr ha, nat hrcumr ubligatrJ tu pa> tu thc Sr~retary of Nuu~ing and l.'rhsn Drtirlupmrnt and aoy
balancr rcmaining in the fund~ .ka+mul:it~Yl e~nilrr thr pruvi,iun+ +~f !h~ ~,f .;uJ par.?graph If ther~ ,hall hr a Jriault unJ~r any of the
pro~~s~ium of thi~ mortga~c. rc~ulti~g in a puhh. ~alr u( th~ prrmnc. cu~cr~yi h~r~h}. or if thr m~xtgagee acyuue~ thc pruptrt} ~Nherwiu
:iftcr def~uh. Ih~ murtgagt~ ~h;~ll .~ppl}. at thr timr uf 1h~ cummrn~rmrm ~~t +u~h priwe~J~ng. ~.r :~t thr tmir the pruprrt~ uthrrN~tir
acyu~rrJ. th~ b:dancr thrn rtrt~ameng ~n thr lun~l~ urrumulatrJ under ~ h~ .~f p:~r,igraph prc~r.ling ati a crr~rt a~e~mt th~ amuun~ uf ~
principal thrr rcmain~ng unpaiJ undrr ,:uJ natr and ,hall pruperl~ adju,t an~ paymrnt. Hhi.h .h:ill ha~~r hr~n madc undrr i~+l uf wiJ
paragraph.
~l. 1 hat h~ uill p:i~ :eU t:ur.. a.,r„mrnt,. ~.atrr r:~t~~,. and .,th~r gu~rrnmrnt,~l ur munic~pal ~h:irg~~. finr., ur ~m{x,.uium. for ..h~ch
pruvi~iun ha+ nut t+trn maJ~ h;rcinhef~~re. and in defauh thercYif the mn~tgager may pay the same: ~nd that hr Nill pr~~mptl~' drl~~~~r thr
~~ffici:d r~Y~~pt. thrrrfur tu the murtga~~~.
I h~t he u il! ~?rrmit. cummit. ur .,utt~er nu wa.,tc. imp:~irment. ~K drtrnuraU.,n „f ,a~d pruExrtt ur any part th~r~ti~f: :~~d m thc e~~rnt
of th~ lailure ~~f ~h~ mungagor tu Arep the building. on ,~iJ premnr. aad thu.~ t~~ hr rmt~d un ,aiJ prenux.. or ~mpn~~ement~ thrreon.
in ~~xx1 repair, the nwr~gage~ m:~y make euch rc~?air~ a. in ith diccrctiun it may dcem rtecestary f~K thr pr~er prr.~natiun th~reof. and
thr full :~nxwnt r:~rh and c~rry wch payment shall br ~mmrd~atrly due and payable, arxl.hall ~~ecured hy the lirn uf this nwrtgage.
l+. I~h:u hr w ~li pa} all and .ingul~r thr c~nt~, chargr~. anJ e~prmcy, incluJi~g reawnsblr law~'er'+ fe~~. and ~ush af ahstra~t~ uf tiite.
~ncurr~Yi ur pa~d at an~ tim~ h} the murtgagrr bctiauce ut the failure .?n the part of the rrkxt~tag~u pn~mpth anJ full~ to ~rform the
:~grremrnt. snJ cu~enant+ uf +a~J prumisux~ nwe and this mongage. and said c~nt~, charee+, a~x1 e~pences sh~ll be ~mmrJiately Jue and
p:t)•ahlr anJ ~hall hr,ccurcJ h~~ ~hc lirn ul thi~ mortgagt.
7. fhat hr Nill I.rrp th~ impru.rmrnt. nuw ~~~~ting un c~rr~ftrr crrct~til un thr mortg.l~.tYl rfU~tl1). 1fl~ll~all:1~ fTl:~} t+r reyuir~~ai from
t~me t~~ untc hy thr m.~rlgag« :~g:,inst luc~ h}• hre and uther hazarJs, ca~ulatic~, und cuntingrnci~~, in ,urh anx~unt~ and fur .uch periixlti a.
ma} he rcyu~red h~ rnurtgagre. :~nd wvll paq promplly, when Jue, any prcmiums on wch imur,~n:e fur pa) m~nt uiwhi~h pr.~vitiiun haa not
t+een made hereinbefore. All insurance shall be carriud in companies approved by mortgagee and the policies arnf renewals thereof shall
he hrlJ hy murtg:~grr and ha~c attach~~1 thrr~to I~xc payahle ~lause, in f:ivor ~~f and in form a~ceptable u. thr mung:~g«. In rv~m of los.
hr N ill.givr immediate n~~ticr hy mail to mortgagee. arxi mortgagee may makr pr.x~f of I~xs if rx~t maJe prumptl} hy murtgagur_ snJ rach
imurcin:r cumpany ~.~n~ern~J herrby authorir.ed and d~rected to male payment for such l~xs directly t~. murt~aeee ~n.tcaJ vf ti.
nwrtgagur :~nd ni~xt~ agrr j„~ntl~~. anJ thc inwrancr pnx«d~. ~r an~ part therruf. ma~ t+e appli~d b~ rtwrt~,age~ at it, uptiun rither tu thr
rr~u.tiun ~d th~ ~ndchtrdnc.. hrreby .~tiurrd ur tu the re.t~~r:?tii~n o~ repair of the pruprrt~ Jamagcd. In ~vrnt of t~~re~l.~.ure of thic
mortgagr ar uther tr~mtir ~~f Utk tu ~hc m~~rtgag~J pn~rrt~ in r~tingw~hmcn~ ui ihe ~nJrMeJnay+ x~urrd hrreh~. ali nght. tiUr, anJ
~ntrrr.t nf thr m~~rtg:igur ~n :in~! tu any imnr.inct policin then in Furcc tihall pas~ t~. thc pur~hatirr i~r cr.~ntrc.
:c. I h:~t thc inurtgagcr m:~}_ at an} timr p~nJing a,uit upun ihu murtgage, apply W thc ~uurt ha~~ng ~ur~xl~ch~~n thrr~uf fur thc
apEx,intmcnl ~~f re~rivrr. ao.l ,uch court shall fortha ith appoine a rrceivrr of the premi~~s cu~rreJ hrrcby .~II and .inEular. incluJing all
~nJ ~ingul:tr thr ~ncumr, prulit.. i,~uex. anJ rrvenut, from whate~er .uurce Jeri~rd, eaeh and rv~r} ~~f Hhich. :t hr~ng c~pr~..ly
unJr~.tu~nl. hrrrhp murt~aer.l a. iC.pctiifxally ~t forth and Jeunbeaf in the granting anJ habenikim.lau.~ti hrrc~~f. and ~uch rr~r~~rr
~hall h.~a~e all thc br.,:~J and rtlc~tivr fun:tium .~nd puwer~ in an~ W i~r rnlrudeJ by~ a tourt to a receivcr. :ind w~h appuin~mrnt ,h:dl he
m:~dr h~ .uch :uurt .i. an :~Jm~1t~d ryuih a~J a matt~r uf ahw~lut~ n~ht tu .aiJ murtgaFrr. and ~cithuut rrfrrrrk~ tu thr adryu:~cy ~~r
inadryuac~ ~~i thr ~alur uf thr prup~n~ murtg:~gcrl .K tu thr wlv~n~~ ur ~mu{~rncy uf .a~J nwrtgagur ur ~h~ JrtrnJcnn. an~ that .uch
rent,. prufi~,. incomr. i,.u~~. :~nJ re.enur~.hall tk applirJ h} .ach re~cerrr .:.~urJing to the hen uf Ihi. m~~rlgage and thr pracucr uf ~u~h
cuurt. I~ Ihc cvrnt uf am ~rG~u~t ~rn thr part of Ihr m~xtgagur hrrrundrr. th~ mur~gngor abrre+ tu pag to thr murtgagtr on drmand as a
rea.onahle mun~hl~ rental fur the premi.c~ an amuunt xt ira~t ryu?valent to une-twelflh 1(/(?1 of the ap,Rrrgatc ~~f the t~~l~~r mcmthly
~mtallmtnt~ pa}aM~ ~n thr th~n rurrent yr.u plu~ Ihe actuel amuunt uf the annua! ~~tes. :atie~,ment~, water rate,. and inwr:,nce prrmiums
fur ,u.h prar nut ru~rrcd h~ thr af~tt~.aiJ nt~~nthl} pay mrnt..
9. ~hat lul in thr r~rm uf :~ny hrrach ~~f thi+ m~~~t~agr or drt'auh un thr part ~~f thc m~~rtgag~~r. ~~r Ihi in thr e~rnt tl~at :in< <~f ,aid
~um, ~~f rnuney herr~n rrferreci te~ he nut prumptlt :~nd fuNy p.~id ~ithu~it drm.ind ~~r nuucr. ~~r 1~ 1~n thr evrnt that ~a:h :~nd e~er} Ihr
.tipulauun.. agrermrnt.. ~~~nd~uum. :~nd cu~cnant, ~~f ,aiJ nutr anJ thn muttgagr. are nut July. pr„mp~h. and full~ pcrfurmrJ: thcn io
e~th~r ur any ~uch r~ent, thr ~:~id ager~gatr.um mrnUun~J in ~:uJ nutc thcn rem~~n~g unpaiJ. whh interr~t aciru~J tu that timr. anJ :~N
rtx~n~y. +t~ur~~i hrrrhJ. .h:Jl h:•r~~mr Jnr :~n~l pa~ahle forth~?ith. ur thrreafter. al the ~+~+tiim ~~f ~aid m~xt¢a~c~, ati fulh and cumpktely a,
~f all ot 1he wiJ ~um. uf muney "rre ari~:~n:Jl~ .UpulatrJ tu hr pa~d un w~h Ja~. :~mthing ~n ..uJ nutr ar ~n th„ riw,rtg.~Er tu th< <untr:~ry
not~ uh.tc~nJ~ng; anJ Ihereu~~n or therrafter, ;a the upliun uf .a~d murtg:ig~e. ~ith~~ut nutice ~x JrmanJ..uit at laa e~r in ryuity. ma~ he
pnnrcut~d a. it afl rrx~ncy. .c~:i~rrd h~rrby h.~J maturc.i pri~u tu ~t, imutuunn. fhc nwrtgag~e ma~ furr~lu.c thi, m„ng.~gc. a~ tu thr
~rtxwnt .o dccl:ueJ Ju~ :~nJ pa~ahlr. :~n~l thr .a~J premi+~. .hall tx ,~~IJ ti~ ,:~ticf? anJ p:~} the ,ame tugrther with cu,h. r~prnxs. :~nJ
a1luHance~. M~a.r ut pxrtial furcil~~,urr ~~f th~. m„rt~;agr, thr m~~rtgagrd prrm~u. .hall he k~IJ ,uhirct tu thr cununumg lien uf Ihi.
rtk,rtgagr fi~r thc amuur.t ~~i thr efrhl n~,t thcn Jur .inJ unp:~id. In .u.h ca.r thc prurni~~n. ~~f thi. par.~craph ~na~ a~.+~n hr ac:ulyd uf
th~re:~it~r fn~m timr tu umr h~ thr mu~lca¢r~.
111. (hat thr rn~,r~gag~~r ~~II ~;i« innnrdi.dr nu~n~ h~ m:ul t" ihc murt~agre ~~f an} ~~~m~yan~r. tramfrr. ~~r ch.mgr uf nHnrr~h~p uf
thc pr~m~~r..
1 I. 1 hat n~~ waiver „f an~ c~nrnant hcrrir ~,r ~~f thr uhligati~nz .rcur~Yf hrreh~ .hall at am timr therraftrr be hcl.l tu tx a wa~~er uf
ihe Ierrit~ hcr~uf ur uf thc nulr,r~urcd her~h~.
12. I hat Ihr nturlg:~~ur drF.eult in :~ni uf Ihr i++~rnanh ur :~grc~mrnt, c~~nt.un~d hrrrin. ~x ~n ,:iiJ n~~te. th~n thr murt~,abcr ma~
, perf~~rm thc wme. and all r~prnditur~, ~ iniluJing rr:~.unahlc aU~,rncp~. fr~~l ma~e hy Ih~ murtgagrc in w Ju~ng tihaU draH iatrrc,t at the
rate ~et forth in lhr nute ~ccurrd hrrrh~. :~nd ~h.~fl hc repayable imm~tilia(el) and wrthuut .temanJ h} thr murtgagur to the rrK~rtgagec. and.
wgether w ith interetit and cu,t. accrumg ~hrrenn. tih:,ll hc secured by thic m~~rtga~te.
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