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2. "!!:»i. :n ordrr mure fa!!y tn pmtcti! ~he,ccurity ~~f ~hi. m~,n~.:~~r. ~Ar I11Ufl?:lYUf. lU_l'~'IIICE Nuh. anJ ~n aJJui.~n w, thr nx~nthl~
pa~mrnh undrr tht trrm. of the nutr ~r~urctil hrrehy, un 1hr fint day uf ~ach munth until the ~aid n.~tr ic fLlly p:UII, NIII ~1:1)' l0 thr
nwngagrr thr iidluH~ng ~um.-
1al .~n anx~um +uffx~rni tu pru~idr thc huWe~ hrrcuf Nuh funJ~ tu pay the nrrt nx~rtgage inwr~nce prrmium if ihi. ~mtrument and
~hr nute .rcured herrby art ~mureJ, ~x a munthl~ charge lin li~u of a ~nurtg:ig~ in.urance prcmiuml if they arc he1J bq thr
Srcrt~ary af Huwing anJ l'rb:tn Ikvrlupment, a~ fullaN+:
~11 If anJ w lung a~ ~iJ notr of rvtn date and thi~ ~mlrunxnt ;?rc ~nwrrd .n arr ~ein,urrd unJtr the nruvi+ium uf the
Natianal H~~u+~ng Ac1, an amuunt su~cient tu accumulatz in ihe hand. ~~f the holde~ one 111 mon~h p~iur to uc dur Jatr the
annual nH~r~gagr imurance prtmium, in ur~rr to prov~Jr wcA huldrr Nith fund. to pay .uch prcmnim ~u thc ~~crctary ui
N.~wing and Urban [kvelopmcnl pur~uant tu the Nat~unal Nuu~~ng :~ct, a~ am~ndrd, and applwable Rrgul:~t~un~
Ihereundcr, ur
UU If :?nJ w lung a~ +aiJ nute .~f r~rn datr anJ thi+ ~n+trum~nt are hrW h>~ th~ tircrtlary oi Nou~ing and l-rhan Ikvrl~~pmrnt,
a nwnthly chargr ~~n I~ru ul a mortg;igt ~muran~r {+rrm~uml ~~hich ,hall t+x in an amuunt ryual tu une-tuclltA ~111'1 of
ont-half 1'~ ? E+tr cenwm ~~i tht ~?~•cragr uut~~arxl?ng balanct du~ un ~hr note a~mputrJ wuhuut ta?ing ~nto accoum
dcl~nyurncic, or prrpaym~m.:
Ib) wm equal tu ~he gruurni rent+, ~f an~. ne~t du~, plu~ ~he premium+ that will nrxt become Jue und pa}:ible un pul~~ie+ uf hre
anJ oiher hatarJ in~uraixr covering thr rrxxigAgcY! pru{~rrty. pluc t~xr. and a»e+~mr~t, nr~t Ju~ un thr m.KtgageJ pro~rt~• lall
as estimated by the rtwrtgagrel less all +ums alreaJ> paid therefur dh'~ded by the number uf m~nth~ tu el~psr befure une munth
pnur to the d~tr uhen wch gruu~xl rrnn. premwma, taxrs, and a,~e,.ment. will t+r.•,ome drlinyurnt, +uch wm. t~~ t+e hrlJ by
~ixxtg~grt in trust to pay tiaid ground rrnt., premium., taxcy, and +~cial aUessments; anJ
Icl All payments mentioned in the two przceding subsn;tiom of this parag~aph and all payments to be made unJe~ the notr ~iured
hercby ~hall be addrd tugrth~r and the aggregatr am«unt thrreoi ~hall be pai~1 hy the ~rxxtgagar each month in a single ~uyrnent
tu ht applird hy thr mortgagee tu the falloN ing item~ in tht urder ~et furth:
11) prcmium chargr~ un~rr thr cuntr.tct of imurancc Mi1h thr kcretary uf Nuu~ing and l'rhan Ihvrlupnzrm, ur nH~nthl~~
charge (in lieu uf m~tgabe imur.~nce prem~uml, as the ca.e may he:
1111 ground rent+, ta~es, a~+smenu, firr, and other hatard inwraixe prrmium,;
t11U inttrest on lhe note ucurcJ hereby; :?nd
11V1 amortir;~tion uCthe princ.ipal.~f ~aid no~e.
Any deticirncy in the amount ul +uch aggrega~e munthly payment .halL unlr~+ msJe gu+Kl hy Ihr murtg:~g.,r pnur tu thr du~ Jatr of
the nr~t +u~h paymrm. ~umtitutr an rvent ut drfault umlrr thi, m~xtgage. 1 h~ murtg:~g~r may cu11eY~ a latr rhar~e" nu~ tu ~~cecJ twu
c~nt~ ~2c1 f~?r rarh .k~ll:u ~SI ~ uf rach pa~mrnt mure thun fiflrrn ~ 1~1 day, in arrcar, tu currr th~ r~tra ~x~xn.r in~ulv~til in haoJl~ng
dclinyacnt paymrnt,.
3. fhat ~f the lutal uf ~hr pa~mrnt~ maJr by thr m~~rt~;agur un~rr ~h~ uf para~tn~ph pr~-~rdin~ .h:Jl ~~:rrJ th~ .~nx~unt uf th~
payn~nts a~tu:~lly maJr by the mortgagre. fur gruund rent~. ta~~Y an~l :~~«~~m~ntc anJ ~murarke prrm~um,. thc c:+x may t+t, wct.
eacrss at the option at the mortgagre, shall, be creditrd an sut~sequent payments to be made by the mortgagor, or refundeJ to the
rtrirtga¢or. If_ however. the munthly pa~~m~nt. madr hy thr murlgagur undrr ~hl uf p:~r.~graph 2 precedin~ .hall not t+e ,uftic~rnt tu pay
~ruunJ rent;, ta~~~+ and a+u~,mrnt. anJ in~urante prr~n~um~. a, th~ ra~c may he. when thr .amr snaii i+ecumc uur and pa~ah{~, thc~~
rtx~rtgagur +hall pay tu thr murtgage~ an~ amuunt n~tir+vn t~~ maAr up ~hr ~rfirirrtc). ~~n ur I+~f~~rc thr datr wh~n pa>mrnt of w~h
grourxi ren~.. taxr,. a~.r..mrnt,, ur imurance pr~miums ~hall tk Jur. II any ume the murtgagur ~hall tender w the mungag~e ~n
xccurJ~ncr Nith lhr pruvi.ium i~t the notr +rcured hrrthy, full payment ~~f ~he rnure ~ndebtrdne., rrprr.antrd thrrehy, the nx?ngagte
~hall. in compuling thr am~~unt ot ,uch inJebt~Jn~~.. cretiiit tu thr acruunt uf tht m~xtgagix all paymrnu made unJer the pro~ uium of ~u1
of paragraph ' hereuf ti hich ~hr mongagte hati not txcum~ ublig~tatii to pay tu the Srcretary ~~f Huu~in~ and Crban Drvelupment and any
halan~r rcmaiciing ~n Ihr tund. a~:unu~L~trd und~r thr pr~+~i,i~m. uf ih~ ~~t .aiJ par:~gr.iph If th~rr ,h:~l) hr a JrLuilt un~rr any uf the
pru~ i~ium ol th~~ mort~,:~g~. rcwlting ~n a puhl~c ~al< <.f thr prcmiuti iuvrrrd hrrrhy. ur if th~ m~~rtga~e~ aiyuirr~ lh~ pruprrl) uthrn~ t+i
aftrr Jeiaidt. Ih~ murtgagr~ ,h:Jl :~ppl~. .it thr limr ut thr cumm~n:~mrnt uf,u:h pnx«~iing, „r at thr timt Ihe prupin~ ~,thrr~~~u
xyuircJ. thr halancr thrn rrm:un~ng ~n th~ fim.1, :~c~umul:dtd und~r ihi uf p:~r:~gr.iph prrcrd~ng a, a crr~lh .i~::~imt thr amuunt
principa! th~n r~m~in~ng unp.ud und~r .a~J nutr arn1 ~hall pru~xrly aJju.t an} pa>m~ntc which .h:ill hacr t+rrn m:wr un~rr ~ul uf ,aid
paragraph.
J. 7 hat he ti~II pa~ all ta~~,. :~..~..m~m.. ~~.iti~ r.u~-.. .ind ~,Ihar gi,~crnimnt:d ~,r muni~ipa{ ~har~r.. hnr.. ur ~m{x~,iuun.. f~a ~~h~rh
pruvi.iun ha~ nut Fkrn mad~ h~rrintkt:~rr. and in Jrt:udt thrrr~~t thr m.,ngagrr mc~~ p:~~ ?hr .amr: .inJ ~h:~t hr uill prumptl~ drlivcr lhr
ufficial rctieiptti th~r~for to th~ m~rtg:~g~e.
5. (~hat hr H~11 prrmit. a,mmit. ur .utlrr n~> >~:~.~r. impairmrnt. ~,r drtrr~~,r.~u~m of.:ud pmp~rt~ ur ~ny p:~r1 thrr~~,f: :inJ in thr r~cnt
uf tht fai~urc uf th~ murtgacur rn lrtp the huil.Gng, .,n .:uJ prcmi~t.:~nd th~~.c tu hr rrritrd un ~aid prrm~.r~. ur impn,~rmrnt. thrr~un. -
in g~xxl rcp:tir. Ihr nr~rlgx~rr ma~ m~lr ~uch rcp:ur, a. in ih J~..rrti.,n rt nta}' Jecnt nitir~~an fur th~ prupr~ pr~unatu,n Ih~rc~,f. and
the full anwunt uf ~ach an~ <<rn ,u:h pa~ mcnt ~hall hc immrdc~trh dur :inJ pa~:~hlr. an~l .h:dl t.~ ~eCUred h~ th~ litn of lhi, rm~rtgagr.
~ ~hat he w dl pa~ all anJ .~n~:uL~r thr cu~t~. charg~,. .~nd r~prr-r.. ~nduding rr:nonaMr lawyer'ti feec. :+nJ c~ctti ~~E ah,irach ~~f UUr.
~ incurr~Yl u~ p.+id :tt an) tim~ h} thr nwrt~;~grr tkti:w~r uf thr i:iilurr un thr p:ut uf ~h~ rr?~~rtgagur pr~~mpd~• and fidh tu perfurm th~
j agrrrmrnt, and .:ocrnant. of .aid pn~mi..un nutr :~nd thi, m~~r~iagr. :+nd ,aid :~rt,. rharges, anJ cxprnse~ chatl he immediatrh due and
~ payablr anJ ,hall br ~c~ured h~ ~hr 6~n i~f thi. m~xtgagc.
F 7. fhat he uill A~ep thr impru~rnunt. nuN ~vrt~ng ur hrreatt~r ~r~it~ti1 ,~n th~ murtg~geJ pruprrty. imured a, may tn reyuired frum
~ timr tu tim~ M th~ rrx~rtgage~ again.t I~~„ h~ tir~ arni uthrr hai.~rd._ .a,ul.ttir.. and ri~ntingeniie. in wch anwunt, and ti~r .uch pc~iixh a.
a m:~y Fx rryuir~tl h~~ murigagc~. aod ~ill pa~ prumpil~_ ~.hrn .luc. :~n~ prcmium. ~,n .~:.h im~u:~ncr fur pa~ mrn[ ~~f ~+hirh pn~ci.~~~n ha~ nut
~ been made hereint?efore. All imurance +hall be carnrJ in companie, approved by rtuxtgagee and the policiet :+nJ renewals thereaf shall
~ t~ h~ld hy murlg:~gtr anJ ha~~ :~t1a~h~Y1 thrrrtu lu.. pa~ahlr :lautitti in fa~ur uf .tin~l ~n iorm accrptaMr tu thr nwr~g:~gr~. In r~'rnt ~~f I~»,
~ hr will gi~r immrJi:it~ nuu:r h} m:~il t~: murt~a~«. and n~~ntgegrr m:~y nr.~l.~ pnk~f.,f I~~. if nui madi prumptl~ h~ m„itgagur. and rach
~ ~murancr cumpanp cunrrrn~d i. hrreh~ .~uthun~ed and Jir~tit~d t~~ malr pa)mrnt t:u ,u~h lu., d~re:tl} ti~ m~~rtg.~g~r in.tr.~J .~f t~~
~ nw~rlgagur anJ murtg:~grr I~~~ntl~. :~n.l thr m,uran~~ pnwrrd.. ur :~m p:~rt thrr~uf. m.~~ hr appG~d hy rm~rtg:~cr~ :u it. upt~un r~~hrr tu th~
reJucUun uf th~ indrhtrJnr.~ hrreh} .r.urcd ur t~s ti~r r~~t~~rah~~n ur repair ~~f Ihr pruprrly ~amagrJ. In rvim „f furc~h~.urr ~~f thi,
~ murtgagr ur uth~r tr:zm(er uf titlr tu the mortg:~grJ pn.~+erh ~n r~tingui.hment ~~f the indcht~~lne+~ ~~tiurcd hrr~h~. all n~ht. trtlr. .ind
~nterc.t ~~f thr murtgagur in anJ tu :~ny ~mur:~ncr policicw then in furce ~hall pa~+ to the pureha~er ar granlrr_
~ 2i. I h:~t Ihe mur~g~g~e ma~. .N nn~ timr prnding a>uit u{xm Ih~. murtg~gc. appl} lu the cuur~ having jun+J~c~ii~n Ihrrruf t~,r thr
~ aP~rintm~m uf a recci~cr. .ind wih ~uurt ,hall furth~ rth :,p~~im a rrceisrr uf thr prrmi,r, .u~~rrJ hrrchy all anJ .~ngul:u, in:luJing alf
anJ ~ingiilar thr in~omr. pn~fit.. i,.ur.. :~n.l r~~rnur. frum ~~h:itr~rr u~urct Jtn~cJ. ~:?ch :~n.i e~cn ul ~~h~.h. it hcing ~~pr~.,l~
~ unJent.xxl, i~ hrrrh~ m~,rtgaged a. if ,pecifi:all~ ,et furth :~nd d«cnh~-.I in thr gr.inU~~ :~nd hahrnJum clauu. hrrc~~f. :~nd ,uch rrcr~~er
~ +hall ha~•r all thr hruad .inJ ~tfrth~~• fun.tum~ :~nJ p~~~arr. in an~u i~< <ntru.trJ h) cuurt t~~ a rr:~i~rr. .~nJ .u:h appu~ntmrnt ,h:~ll tx
~ madr hy ,u~h ~uurt .~n admilt~d ~~yuih :~nJ ~ matlcr ~~1 .ih.~rluta right I~~ ~:nd murtg.~gci. :~nJ ~+rth~~tu rifrren:~ l~~ thi .~Jcyua~) ~x
~ inad~yuac~ af Ihr ~:~lur ~,f thc pr~~prrn ~n~,rtgaceJ or to Ihe ..~I~enc~' or in,ulvency ~~f ,a~d nx,rtg.~t~•r ~~r thr Jrlrndrnt.. anJ that .uch
~ rent+. prufit~. ~nwmc. ~.,ur.. and revrnu~~ ,hall he appli~J h} wih rcc~i~rr accurJ~ng tv th~ iirn uf thi. murtgag~ .~nJ thr pract~:r uf wch
~ ~uur1. In thr r~~m ~it any deL~ult ~~n the p:ut uf th~ murtg:~gur hrrcundrr. Ihe murtg:~g„r agrrr. tu pa~ tu lhr murt~agrr un drmanJ a~ ~
rea.onahlr munthl} rrnt:il f~~r the prrmi~~. an amuunt at Ira.t ryui~alrnt t~~ une-tw~lfth i1/1_'? uf th~ aggregatc ~~f thr t..elve rrn~nthly
~ installment. payablr in the Ihrn ~urrent ~ear plu~ ihe actual nmuunt uf thc annual ta~ec. a~.e~~m~nt.. ..;~t~r rate~, anJ imuranre prrmiutm
r; fur,u~h ~rar n~>t ~u~~r~d h~ thr:Jurr~aiJ munthiy paymcnt,.
~ 9. ~hat I~il in Ihr e~rm ~~f an~ hrrach ~~f thi~ murtgagr u~ drfay~t ~m the p:~rt ui ~hr m.,rtga~~~r. „r Ihi in thr c~rnt that am ~~f..ud
~ tium. „1 m~mr~ hcrrin rcfrrnrl Iu h~ nut promptl~' and full~ paid .~ithuu[ Jrm:~nJ „r n~~hcr. ur t~ 1~n thr r~rnt th.~t r:~~h anJ ~~rn thr
~tipulatian.. :igrermrnh. ~un~~twm. .ind anenants ~~f +aid n~.1c anJ thi~ m~~rt~tagc. arr n~~t duh. prumptl~. arxi fully ptrfurmrJ; thcn in
ehhrr ur any cuch cvent. the ~id aggrcgate .um mentiuned in ,:ud ni~tr thrn rrm.~uiig unp:ud. N itF mt~rr.t :~.:rurJ t~i that umr. an~l ,JI
;m rtx~nr}~ ~e~ured hrrrhq. +h:Jl hrtumr Ju~ .inJ p:~yahtr furth~. ~th. ur thrr~ahrr. :~t th~ ~,ptwn uf .:ud murt~:.~gr~_ a. full~ :~nd c~~m~lrtrh a.
Yt?
if :~II „f Ihc .:ud sum. ~,f mone~ Hrre unginall~ .tipul:~trd tu hr p~ud un .uch J:~c. amth~ng in .:u.t n~,t~ :~r in thi, n~~rtgagr t~, thr c~mtr.in
notw~th~tanding: and therrupun ~r Ihereaftcr. at the ~~ptiun ~~f.aid m~rtga~:rr. ~ith~~ut nuticr ~x J~mand. .uit at law ~~r in ryu~t}. m.n be
pru~r:uleJ a~ ~f all nwney~ ~~tiurtJ hrrch~ h~J ~naturrJ pn~~r 1~~ ~t~ ~n.t~wu~,n. 1 hr nxrrtEagec ma~ f~~rrclu,r th~. rrx~rte.i~r. tu thr
- artx~unt w J~clarrd dui :~nJ p.+)eMi, anJ th~ ~:u~l p~rmi+~~ ~hall hc .~~lil ~t~ .al~~f} anJ pa) the ~:+mr t~~irthrr w~lh ~i~+t+. ~~p~n~~~. .~nd
:IIIUN:m:r.. In i:~+r ~~f p.~rti:~l f~~r«I~~.ur~ ~,f thi, nu~rtg.~gr. Ihc murtgagrJ prcmnr, ,h:Jl ht ,.+I~ .uhj~ct t~~ Ihr c~,ntinuin~; li~n ut Ih~.
trH~rt~;:~gr G~r Ihr anu~ur.i ~,f th~ ~irht nut thrn dur .~n~~ unp:uJ. In ,u~h ca.~ thr pn~~i.~un~ ~d Ihi. par.~~raph ma~ ae:un h~ :~~:~ilyd ~~1
r: Iherratirr fr~~m umr t~, timr h~ thr mi,rt~age~.
I11. I hal th~ murt~.~~;.,r ill ~:nr immrJiati ~„Ui~ hy m:+il tu Ihc murtgeg« c~: .im cum~ynncr. Ir.+mf~r. ~~r :han~:~ ~~1 uunrnhip uf
thc prrmnr~.
I I. 1 hat n~~ w:urrr uf en~ :~,vrn:~nt hrrrin ur ~~f thr ~~hli~etwn .r.urcd hrrrh} ,hell at am umr th~rraft~r he hrld t~~ tk a wa~~rr of
(he lcfn~~ hC~e~~( uf (h~ nule tircurrd hrrrh} .
12. fhat ~f the m~,rttat~~r .I~L~ult in :~m ~~f thr r~nrnam, ur :~Lrrrmrnt~ <<,ntain~d htrrin. ~,r in wid rn>tr. then ~he mixlgagre n?a~
perfurm Ihe wmr. arnl all r~pcnJ~tur~, i~ncluding rra,~~nahlr .~tturnr~'~ (~r,~ n~a~1r h~ thr m~~rlgag~r ~n w Ju~ng ~hall draw imerc~t at Ihe
C`*i._
fJIC 1C1 fUfifl in the ~ute ~~cured her~ h}~. an~ ,hall F+r ~e~sy:?nir ~m~,~~-d~atel} anJ w ithuu~ J~m:~nd hy~ Ihe nwrtgagur to thr m.+rtgager, anJ.
~ tugethrr with ~nterest anJ a»~. ac~rumg thrrrun, ~hall be secureJ by thi~ murtgagr.
~go~K210 ~~E2328
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