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2. Ihat, m urdr~ nwrc fully tu prut~tt ~hr .riunty ul thi~ murt~,:~br, tf~r nwt~bagur. tugrihrr .~~U~. :uul ~n :,~Jd~h~m tu. thr nxmihl~
paym~nh unJrr tht trrm. uf Utr nuta u.u~~tii hrrrh~. un th~ lint J:q ui~ ca~h nwnlh until thr .:~i~~ n~~tc i~ tull~ p.uJ. N~II pa~ tu Ihr
murtb.?grr the taU~~N~og,um~:
~al An am~wnt w[ticient tu pruride thc hulder hrrruf w•ith fund~ w pay ~hr qcxt tnurtgagc in~uiancr prrmium if thi~ imtrumrn~ and
the note xcurcd hereby are in~urrJ, ix a monlhly chargr lin lieu of a rtx?rtgage imu~ance p~rmium) if they are hrld b~~ 1he
Secretary ot Noux~ng anJ l;rba~ Develupmcnt, as fulluws:
lU If and so (ong as said rnutt uf even date und thi~ instrumrnt are irou~ctil or are rein+ured u~xlzr ~he pmvi,ium of tht
National Housing Acl, an amount sutTic~ent to accumulatr in Ih~ hundc of the hulder one I 11 munth prio~ to its due date thr
annual mortgage insurance Exemium, in a~der ta proviJe wch huWer with funJs w pay +uch prrm~um tu thr Sr~;relary uP
Nousing and Urhan Develc~?menl pur~uant tu the National tiou,ing Act, :~s amrrxlyd, a?Kt ~pplKable Rrgulatiun~
thereunder; or
UU If and u~ I~ing as said noe~oGpveA Jate arxl this incirument are he1J by ~hc Srcre~ary of Howing anJ Urban (kvelupmcnt,
a monthly charge lin lieu uf a morlbage insurance premiuml wh~cA +haU t?e ~n an amoum eyual to une-INelfth 1111'_1 of
une-h:ctf f'~) per centum ot thr avrrage uuttila~xling b:?latx;t Jue on thr nae comput~l without taking inta accuunt
delinyuencies or ~epayments;
lb) A cum ayual to the grourxi rcnts, if any, nrxt Jue, ptus tAe premiums that wil! next become dur anJ payable un policie~ of firr
anJ other hazard insurarn:e covering the mortgag~tif proper~y, plus taxes and a~cecsment~ next dur on the mungagrd property (all
as estimated by the morlgagee) less aU sums alrcaJy paid therof~x divide~l by the numt+er of munth, to elapsr brfore one munth
prior to the Jate when such graunJ rents, prem~ums, taxec, and assr+sments will bea~me alelinyurnt, sikh somc tu be hrlJ by
rrwrtgagre in trust to pay ~id grounJ rents, premium~, Isxes, and ~pecial a+setisments: and
1c) All payments mentioned in the tw•o preceding suMectiuns oP this pazagraph anJ all payment~ to t?e maJe under the note .ecured
hercby shall be added together and the aggregate ~muunt ~hereo!'+hall t+e paid by the murtgagor each monU~ in a single paymeM
to be applied by the mortgagee to the fallowing itrms in the order set forth:
1U premium cha~ges under ~he cuntract o( imur~?nce wilh the Secrc~ary uf Nou~ing and'Urban [)evelopnxnt, or munthly
cha~ge lin tieu of murtgage insurancr premium), as the cuse may be;
11U ground rent~, tax~s, a~se~~ments, fire. arnf othcr hatarJ insurance premiums;
I111) interrst on the note securrd hereby; anJ
IIV1 amorlitation of the principal uf said note.
Any drficiertcy in the artxwni nf +uch agsregatr munth~y paymrnt ~ha11, unlecs m,ule gu~xl hy th~ mortKagor prior t~~ Ihe du~ datr ai
the next ~uch p•ryment, comtitute an event of J~fault under thi~ mottga~r. ~Thr m~xtgag~e may culle.t a°Lur chargr" nut to rzcred twu
cents 12c1 fur each ik~llar 1511 .~f rsch paymcnt mure th~n fifteen 11~1 day~ in arrcarti to co~er the ~x~ra e~~xnse inv~.lvr.i in hanJli~g
delinyuent payments.
That if the total of thr payme~t+ maJr hy the murtgagor undrr (hl uf paragraph ~ prccrding .hatl cxcerJ thr anhiunt uf th~
payments actuallp made by !hr murtgager, fur gruund rent., taxc~ ;mJ a~ce+.ments and imurarkr prrmiumti. ;~ti the ~a+r may t+e. such
excess at ihe option of the mortgagee, shall, be crediterl on subscquent paym~nts to be made by the mortgagor, or rcfundeei to the
nwrigagor. If, howtr•er, the m~mthly pa~mcnts madr h~ the mungagor undrr Ihl uf paragraph 2 preceJing ~haU not t+e sufficient tu pay
gruund rrntc, taxc~s aqd alxstiment. and inwrance prrm+umt, a. the ra~c may F+e. Hhen the ~ame shall hr~umr Jue and payahlr, then th~
rnortgagur shaU pa~~ ta the mixtgug~e any amount nrcr~~ary ro m,~l.c up thc deficiencq, un .x i+rfure the dat~ whrn paymrm uf .uch
grourxl rcnb. taxes, a~~~+ment~, or imurarxr premium~ .h;dl he due. If at ao}~ time the m~xtgag~x ahall tea.ter to the mortgagre in „
x~urdance with the provisions of the n~~tr .ecurrd hereby. fu!! paymrnt of thr entire indeht~~ine~. repre.ented thrreby. the nx~rtgagrr
.hall. in c~~mputing ~he amuunt of wch irxiehtctilnr+,. cr~Yfit t~, the :+ecuu~t uf the murtgag~x all paymrnts made unJer the pruvisionc ~.f iu?
uf par:~graph 2 hereoC which the mortgagre has not beronx uhligatcYl tu pay tu thr S~cretan• of Huwing anJ t'rbart Devrlopmtnt anJ any
balance remaining in the fundc acrumul~tc~i unJer the provi.ion. uf fh~ of ,aid paragraph If there .hall he a defaul~ urxlrr any uf the
pr~~~•is~um of this mortgage. rrsulting irt a public ,alr uf thr prrmi+« ruver~til hrrehy. or iP thr m~rrtgagre acyinre. the proptrt)~ utherK ~~r
after deL+idt. the mortgagee ~hall :?pph, :~t thr timr of th~ commrn~~mrnt ut',uch pnxe~ding~ ur :~t thr timr the pm~xrt} i. ~~Ihrrwi+e
:?cquired. ihr balacxe then rrmainirtg en the funJ, accumulataYl unJ~r ih~ of paragraph 2 pre~rJing a credil :ig~imt Ihe :~mount ut~
principal t~irn remai~ing unpaid under ,aiJ nu~e :~nd tih.dl pru~xrl~ a~lju,t an}~ pa~mrnt, ~~hi~h ~hall ha~r t+~rn madr unJ~r I~i) uf utid
paragraph,
1. Ih:II F1C K7II 413~' 7IJ ~.iCCY. 8~tit~5Rle'Rl~. Katrr ratc~. anJ uther gu~ernmrntal ur muni~ipal charge., hnr.. ur imEx+.itium. fur which
pn~vi,ii~n has not t+ren made hrreinb~f~~rr, and in default th~reuf thr m~xtgag~c m.iy pay thr .ame: anJ that he Nill promp~ly drli~rr thr
official receipt, therefor t.~ the mortgagre.
That he will permet, cummit, or wt7er nu uactr. impairmrnt. or dctrriur:,tiun .~f ,aid pro~rty cx any parl lherc~if: atxl in the t~rnt
uf the failure uf the nwrtgagur tu ktep the building, un ,a~d prcmi.e~ and thuse to he rrected un ~aid premi,e,. ur improvemrnt, therrun.
in g.wJ repair. the murtgagee ma} make wch rrpain a~ in it,.li.rretion it mag derm ncticy.ar~ tix the pmExr prrunatiun ~hercoi. anJ
the full artxwnt uf ra~:h and evrry +uch p:,y~mcnt ,hall t+c immr.l~atrl~ Ju~ anJ p.~y aMr. anJ .hall tti ,r~:urrJ b~ ~he lien .~f thi: mortgage.
6. That hr will pay all and ~ingular the axts, chargrs, anJ espenx,, in~luJing r~a,un:?Mr lawyer'~ frr.. anJ co,h of ah~itacts uf tide.
incurred ur paid at :~ny time by the m.~rtgciLCC bctiatur uf the failur~ on the p:~n uf thr rtx~rtgagur prumpll? and fulh tu prrfurm 1he
agreemrnts and covenants of said prumititi~~r~ note anJ thi. m~~rtcag~. and ~aid eu~t~_ ch:uce., and ~rprnccy ~hall he immrdiately Jue and
p~}able and .hall be ~ureJ by the lien of thi. murtgage.
7. "fhat hr W ill keep the improvemcnt, now r~~,une c~r hrreafter rrectctl on Ihr me~r~~:agrd pro~rh~, imurrd a~ ma~ t+e reqmr~til frum
teme te? time h? the murtgagre against I~»s b~ fir~ anJ uthrr h:~~ards, ca~ulati~y. :tnd ci~ntingrn: ie+ in .uch amuunt. and fi~r ,uch peri~~~; a+
m:i~ t+e required hy murtgagee. anJ Nil) pxq prumptly, ~~hen Ju~, any prcmium~ .~n wch imurance for pa~•mrnt uf N hich pru~~i~iun ha+ not
been made hereinbcfore. All insurance shalt be carried in companies approved bY mortBagee arxi the policies and renewals thereof shall
hr held h}~ mortgager anJ havr attachrJ thereto I~nt payahl~ clawc~ in fx~or u~ and in furm :iceeptahle to the rnurlgag~e. In r~~ent uf lus~
he will give ~mmrdiatc nuticc by mail to murtFagrr. and martgagce may make pr~x~f uf luc. if n~n ma~ir prumptly bp murtg~gur, and earh
imurarxe c~~mpany conerrneJ iti hereh~ ~uthuritrd and Jirrcied tu m:~A~ pa}ment fur such Ivss JirecUy tu murtgagee imtead uf to
rrx~rtgag.~r :~r.J mortgagee juintly. and the inwr:,nce pnxeed,. ur any part thcreof. ma}• he applird hv nxirtgagee at its option either tu the
~ rrJuction uC th~ indeM~~inet.~ hereh~ .e~ur~~i or to the r~,turatiun ur repair uf thc ~rup~rty damagtJ. tn ev~nt of foreclu~ure uf this
murtgage ur uther transfer of titte tu the mortg:~ged propert~• i~ rxtingui+hmrnt uf the inJ~btcdnetis x~curc~l herchy, all right, titte, and
intere+t uf thc morigagor in and to any incurance policie~ then ~n force ~hall pau to th~ purchaur or grantee.
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8. Th,~t if thE• premise~, or anv part ther~ol, be cundrmned und~•r an}• poN~r o( c•minent dumain, or a~ quir~•d fpr a puLlic u:e,
i the dama~ge., proceed., and the ~~onsidc•tation (or ~u~ h ac~ui~ition, to thP ~~strnt o( th~> full amount o( in~irLt~•dne~ss u}wn thi~
! 1}ort~a~f-,andthe\ote~ scrurF~d hcrrbc rf-~uainin~ unpai~l..~rr herrbc a~xi~n~•d 6~ thi• \I~~rtra~or tothc ~turto.~~et~ and .hall be paid
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~ forth~.iih ?o ~h~~ ~lori~a~~~ to Le applif~d trc it un a~c~~~nnt ~~f th~~ indebtedn~ss ~t•rurod he~retry, ~~hether dui~ or nol.
~ 9. That the nwrtgagee maq, at any timc pending a,u~t uExm thiti mortgage. spply to lhe ~ourt ha~~ing jurixlicuun thcreof fur the
~ apFwiniment uf a receivrr, anJ wch awrt `h:+ll for~hwith apEx~inl a receiver of the premi~e~ wvereJ hereby all anJ .ingular, includin~ all
3 and ,i~gular the income. profit~, i.suc~_ and revenue, frum whate~•er wurce dcrivcd_ each and every uf which. it heing exprc~~l}
i urxientw~J, i+ hereby mortgagcYi a~ if spccifnxiiy tiet furth .inJ d~•xrit+e.*J in thr grantiog and hatknJum clauc~~ hereuf, and suth receivcr
shall have the bruad and effective functii~ns anJ poMer~ in am•Ni~e entru~ted by a ci~urt tu a receiver. and tiuch appuintment tihall bc
; maJe by such caurt as :~n aJmitted oquity and a matter uf ai?u~lute right to ~aid murtgagee, and without reference to the adeyuacy or
inadeyuacy uf the value of the property mortgsg~til ex tu thr x~lvertcy or emolvency of ~aid rrwrtgagur or the defenJent+, and that such
rents, pmfits, ina~me, ii+ue~. and re~~enues shall tx applied by ,uch receiver accorJing to ihe lirn ~ef this mortgage and the practice of such
cuurt_ In the event ~~f any default on the part of thc mortcagon c~reunder. the murtgagur agrees to pay to the mort~agec un demanJ as a
rra~onable munlhly rental for the p~emise. an amuunt at leau eyuiti•alertt to one-twelfth 11/121 uf the aggregate nf Ihe twelvr m~mthly
im~allments payable in the then current year pluti the actuaf amount of Ihe annual taxe~. a~.c~timent~. Hater rate~_ anJ imurance prrm~um~
_ fur such year not covereJ by the aforetiaid monthly payment..
?p, That lu) in the eveat i~f any brcach uf thi~ mvrtgage ur Jrfault un the p~rt uf the rrk~rt~;~~gur. ~~r Ih) in the rvent thxt an> uf wiJ
r sums of muney herein referreJ to be not promptly anJ fully~ paiJ without demanJ ur no~icc, ur 1~~) in thc rvent that earh anJ even• the
~upulations, agreemrnts. conditiom. anJ covrnants of wiJ nu~e and this m~xtgage. are nQrduly, promptly. :,nJ fully perfurmed: then in
either or any such event, the taid aggrcg;ite sum mcntiu~ed in ~aiJ notr then remainig uopaid. with intrrr,t :?ccrued tu ~hat time. :~nd all
rrkmry~ secured hrreby. ?ha11 t+ecume due anJ payable farthHith. or ~hereafter. al thr ~~tiun uf tiaiJ me~rtgagee. ati fully anJ completet~ a~
° if all of the wid wms uf m~mry were e~rigin:~ll~ titipulatcJ to he paid an wch Jay. anything in wid note ur in this rtx,r~ga~e to the cuntrsry
£ notN ithstanJing: :?nd thereupon ur thercafier, at the uptiun uf ~:+id mc~rtgagee, w ithuut nutice ur Jcm~nd. ,uit at law or in equity. may ~x
pr~xecuted ac if all moneys secured hrreby haJ malured prior to i[+ institution. "1-he mor~gagee ma} furedux thiti rtHxtgage, a~ to the
arrwunt ~o declarrd Jue and payahle, and thc .aid premitie~ shall t?e u~ld to ~atitify anJ pay ihe same together with cmt~, rapen~es. and
- alluwances. lo catie of partial forecl~~ure of this nwrtgage, the mextgagrd premiseti shall t+r wW wbjctit tu the continuing lien uf thi~
~ rtx~rtgage for the amuunt uf the debt not then Jue and unpaiJ. In ,uch c:ae the pro~itiium uf this paragraph may again t~ a~ailed of
Ihereaher from time tu time by Ihe m~~rtgagcr.
11. That the rrn~rtgag~tt w iii give immrdiatr nutice hy m:~il to the me~rtg~gee of any conve}'ance. tr.tnsfer, or change of ownerchip ~~f
the premi~es.
- 12. That no waiver uf any cavenant hercin or of thr obligalion cecureJ hereh} ~hall :+t anp time thereafter t+e held tu tk a aaiver ut
the lermc hereof or of lhe nole ~ecurrJ her~by`.
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