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Ihat. in ur~rr n~~rc full~ 1u prut«I thr.r:ur~t~ ut Ih~~ muii~a~r. Ihr mu~tga~;..r, t~~grihrr ti:th.:~rat ~n :a1J~~iun ~u. thc rtxmthf~
pa)'ntenN undaf !he ~erm. uf ihr nuir ,a~ura•d hcrrhy. ~~n Ihr tir~t da) ut ~ach munth unUl Iht ~.~~J nul5 fully p:ud. v~~ll pa) lu ihr
murtg.igCC lhr ti~UuNin~.um~- ' .
la? An amuunt wft'x:i~nt tu pruvi+le the hoWer herc~~f with funds to pay ihe nri~ murtgage imurancc ~emi3m i[thi+ m+t~urrxnt and
tht nute securrd'hereby arr imurctii, ~x a monthly charge lin lieu uf a mortgagt imuruncr premiuml if ~hey are hrlJ by thr
titcretary of Housing and Urban Dtv~lupment, as fc~lk~ws:
111 If anJ w long as said note ot rven date and this instrument are ~nsurc~l ur are rcin~ured undrr the provi.iuns uf Ihe
National Housing Act, an amuunt wt1'icient to accumulate in the hands c~f ~he huldar one 1 U month priur to iu duc Jate the
annual nwrtgage inwran~;e p~emium, in .xJtr ~u prov~dr ~uch h~~lder w~iih funJ, tu p:?y ~uch premium to the Srcretary of
Huusing and Urban l~~•elupmrnt purcuant to the Nal~ana) Huu~ing Ac~, as amenJeJ, arxi applwahtr kCgutatiuni
thcrrunder; or
111) If and x~ lung ;u wiJ note uf evrn date arxl this instrument arc held by ~he Secrcta~y of Hou~ing arxi U~twn Develupment,
a nx~Mhly charge lin Ircu ~~f a murtgage ~nwrancr prcm~um) which ,hall be in :tn amuunt rqual tu une-twrlfth (1/12? of
onr-hulf l~iz 1 per centum of the averagr outsta~xiing balance Jue un thr note cumputeJ w~thout tnAing into account
delinqurncies ar prepayments;
Ih) A sum equat u~ the gruurxl rent., ~f any, nett dur, plu~ the premiums Ihat will next brcome due anJ payable on policiec of fire
aod athe~ hatard insurance cavering the rtxxtgagtYi property, plus taaes and aUtumrntc next Jur un the m~xtgageJ proptrty lall
ac estimated by the mortgag~el less all sums alreaJy paid the~efix diviJc~1 by the number of months to elap~e befure une munth
p~ior to the date when such grourxi rems, pr~m~ums, taxcs, a~xl as.,e,sments a•i11 brcume drlinyuent. such ~um~ to be held by
nwngagee in uust to pay said ground rrnts, pr~miums, taxes, anJ special acsr~.ment~; and
te) All payments mentioned in the tw•o preceding subsections af this paragraph arni all payments to be made u~xler the not~ secured
herrby shall be added togett~e~ and the aggrrgatr amuunt thereoishaN be paid by ~he nx~rtgagur exh month in a single payment
w be applied by the mortgagee ta the fu11uN ing rtrms in the ordrr set fonh:
ll) premium charges under the contract uf insurance with ~he Secr~tary uf Huucing and 11rt+an [~vrli~pnnnt, or munthly
charge tirt tieu of mwrtgage insuranCe premium), as the case may l+c:
111) ground rent~, taaes, assrssments, fire, and other hacarJ inwrance prrmiumc;
U111 interest on the note secureJ hereby; and
U V) artwrtization of the principal of said note.
~iny defici~ncy in 1he amuunt uf such :~ggrrgate nx.nthly payment tihall, unlr~, made gu~xf hy th~ murtEag~x priur to th~ dur dat~ uf
tht next such payment, conslitute an event of defuult under ~his mortgage. fhe murtb;~gc~ may c~~llrct a' late ch:~rge" nu! tu ~xc~ed t~u
cents 12e) fi~r each ~Ilar ISI I of exh payment more ~hun fiftern (15I day, in arr~ars tu cov~r the rttr:~ riprnu im•u1vcJ en hanJling
dzlinquent payments_
3. "fhat if the twal of tht p:?ymrnt. made by the mongagur under Ihl of par:+graph 2 pretirding ,hall excr~d ~he amuum of the
payrt~ent~ actually m~Je by the mortgagee. fur gruund rrnts, ta~rc and :usessmrnh and imur:~rke prrmiums, a~ the ~ax may hr, such
eacess at the option of the mortgagee, shall, be credited on subsequent payments to be made by the mortgagor, or refunded tu the
nx~rtgagur_ If, howe~~er, the nx~~thly paymrnh m~ie b~• the nwrtgagor under Ihl uf paragraph 2 pr~YeJing ,hall nut ik .uffic~enl to pay
gruund rent~, ta~e+ anJ a+u~sment~ and imuranrr prcmium~, as thr case may t+r, when the +:~me ~hall hecumr ~ue anJ payablr, then ths
rtn~rtgagor .hall pay to the mu~tgagre ~ny amuunt necc~tiary tu make up thr drtiri~ncy. un ~x t+efi~r~ thr date wh~n paym~m uf wch
grouixl rent+. taxe,, acstssmenic, ur i~5urarn:~ prrm~ums shall t+e due. If at any ume the mortgag~u ~h~ll tender tu thr mnr~gagee in
xtorJance with the pro~~isionc of thr note srcured hereby. full payment ot the entire indebteJnrss repre+rnted ther~by. Ihr nwrtgager
.hall, in computing lhe amuunt of ~uch inJebtealnes~, creriit to the accuunt uf the mortgag~ all payments made under the pruv~siuns of lul
uf paragreph 2 hereof Nhich 1he mortgagee hat not t+rcome obligated to pay tu the Srcretary uf Huusing unJ Urban Orvclupment anJ any
balantt rrmain~ng in the funJs accumulatcY! under the provisions of Ih~ uf saed paragraph 2. !f there ~h~tl br a default utxler any uf the
pruv~,ium ~,f thi+ mcxtgage, rnulting in a pubiic ~alr of the prcmi,~-~ cover~yi herehy. ur if the mixtgagre aryuire, th~ pr~~rrtt uthrrwi,r
attrr drfauU. the m.xtgagee .hall :+pply, at the time uf the cummrncrment uf +u~h pnxecdings ~.r at th~ timr the prupert~ i, utherw ise
arquirecl. the bslanee then rrmaining in the funds ~ecumulatc~l under 1b~ of paragraph 2 prrc~ding a~ a crrJit agaimt ~hr amuunt of
pnncipal thtn remaining unp;?id unJrr »iJ note and ~hall properly adjust any payment, ah~ch ,hall hav~ hrrn m:tJr und~r Iu1 of ~:~id
paragr•sph.
-t_ Th~t he Hil! pay al! taic~, asse~cments, w•ater rates, anJ other governmental or municip:d charg~., fine~, ur im~x~,itium, f~~r Nhich
pru~i,iun ha+ not t+een made hereinheforr. and in Jefault thereof the murtgagtr may pay the samr: anJ that he .~ill prumptly dclivrr the
ufficial rneipts therefur tu the murtgagee.
5. "1 hat he W~i!! permit. commi~, or suFfer no waste. impairment. cx deterioratiun of wid pmperty or :my part theretif: anJ in thr eacnt
u~ thr I~ailure ~~f the mortgagur to kerp the huilding~ un ~~iJ prcmixs and thu~e to be rrctitrJ on caiJ prrmiks, ur impruvemem~ thrreun,
in gu~xi repair, the mortgagee ma}~ mal;e such repain a, in its di~cretion it ma~ Jrem nc~r~tiar}~ fcm [he pn~+er pr~xrvation thtrrut~, anJ
the full ~rrk~unt of exh anJ every ,uch payment shall be imme~liatrly due and pa~ ai.fe. ~nd shall be sc~urrJ hy the lien of thi+ murtgagr.
b. That he ~iU pay all and ,ingular the cost., chargcw. and ~xpensc~, including rrawnahlr I:,ayer'~ fce,. and costs oE ab~tractt of tide.
incurrrd or paid at am• time by the mortgagre b~ause uf the failure ~in the part of thc nwrtgagur prumptly :?ad fulty t~~ prrform the
agreement~ arn! covenants of saiJ promicsory nute anJ thic morigage. and said custt, charge., arxi e~penx~ ~hall he immrdi~trly Jue and
p:+yablr snJ ~hal{ b~ ~ecured by the lien of this murtgage.
7- T hat he N~II keep the impruvements now crisUng ur hrreafter erectrJ on the mortgag~~l proprrty, imured a~ may be rrquiri~cl fmm
time ~o time ba• the mortgager against I~xs b}• firr and other hazardc. casulati~. and c~.ntingrnci.s in ~uch amounh aod fur ,uch pen~nl~ a~
may t+e required by mortgagee. and W ill p~~~ prumptly, when due, an~~ premium~ on wch inwrance tur paymrnt of Nhich pru~•i~ion hati not
been made hareinbefore. Ali insurance shalt be carried in companies apProved by mortgagee and the policies and renewals thereof shall
be held by mortgagee and ha~•e attached thrreW I.ns payable clauses in favor of and in form acceptable to Ihe rtwrtgagee. In event uf los,
he ~ ill give immediate notice by mail tu mortgagee_ anJ mortgagee may make pnwf of los, if not madc prumpdy by murtgagur, anJ rach
~n.urance company concernrJ is herrby authcxized and dirc*cted to make paymen[ for .uch kxc Jirectly to ax~rtgagee in,tcad u! to
irn.rtgagor arxf mortgagec jvind~~. and the insurance pnxeeJs ur any part thrrcti~f. may be applieJ by nxxtgage~ at ih optiun eithrr tu thr
rcJuciiun .~f the indebteJneti, hereby sc~ur~Yi or w the re.turation ur rrpair of ihe prupcrl} J.~mage~. In evcnt uf fure~lu~ure .~f thi,
; murtgagr or other transfer of tiNc to the mortgaged prc~?erty in e~tinguishment of the endebtrdnc~ti u-~urcJ hrrehy. all right. tiUe. anJ
~ intereu of the mortgagor in and w any: iniurance pulicir~ then in furce shall pass to thc purchaser ur gramec.
~ 8. ~I~hat if the premises, or any- part thereo[, be condemned under any power at emin~•nt ~focnain, or u~~yuir~~t lor a public u.~~,
( the Jarna~~s, proceeds, and the consideration [or such acquisitioo, to the extent of thr full :unount o[ ind~~btr~ln~~ss upun thi~:
k 1lort~agP, and the~o~c secured hereb~~ temainine unpaid, ar~ hereb~ ascigned bc the \Iort~.tRor tu the \Iort~aR~~~~ and shall bc paid
~ forthti+ith to thi~ \lort~aeee to be applied bv it un accc~unt u( th~~ indebtedne~s ~rcur~J hemh~, ~~hether due~ or not.
€ 9. That the rtxxtgaRee may. at aay time pending a suil u~x.n this mortgagr. appty to the court ha~ing juriuiictiun thereof for 1he
; ap~wintmrnt of a rc-~eiver. anJ such c~~urt tih:~l1 forthN ith appuint a receiver uf the premi,eti covercd hereby sll and cingul:~r. ~rxluding :JI
; and singular the income, prufit,, i~sues. and revenurs from whatever wuree deri~~ed, each arxf r~•ery of which. it F~eing e~prrti~ly~
i unJersto~l. is hereby mortgagn! as if cpcYifica(iy srt fi~rth and described in the granting and habrnJum clau~e~ hereuf. :mJ ~uch re~eiver
shaU have all the bro:id and effective functions unJ puweR in anywitie entrostrd by a court to a receive~. anJ such appuintment shaU t+e
t mad~ by such court as an aJmitteJ rquit~• and a matter uf aMulute right to saiJ rrwrtgagee, and w ithuut referen:e to the adrquac)~ or
~ in~J~~uacy of the value of the property mortgageJ or to the wlver?~y or intialvrncy of c;~iJ metttgagor vr the defe~Jents, arxl that wch
~ rentc. pm6ts, income. issuec. ~nd revenues shall t+e applied by such receiver according to the lien nf this morigage a~xl Ihe practice of such
~ cuurt. In the ~vent uf any Jefauh un the part of the mortgagor hereunJer, the morigagor agre~~ ta pa}~ t~i the mortgagrc un demand as a
- reasunable munthly~ renta( for the premises an amuunt at least ryuivalrnt to one-tKelfth 111121 of the aggregate of the twel~•e r?wnthly~
imtallments payablr in the then current year plus the actual amuunt of the annual t.ucrc, atitic~timent,. water rate+, anJ in~urancc prrmium~
` fur ~uch year not covered by the aforesaid monthly payments.
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10. That Ici) in the evem of any brrach of thi~ mortgage vr defauU un Ihe part i~! thr mortg:?~eur, ur (h? in thc e~~ent ih:~t a~y uf wid
~ums of murtey herein referrnl 1o Me not promptly and fully paid without demand ur notice, i~r Ie ) in the event that rach anJ e~er~• the
,tipulations, agreements, canJitiunc. and cuvenants of ~aiJ nvte anJ this mortgage, are not duly. prumptl}. and fully prrtormrJ; then in
cither ur any wch event. the wid a~rrgate ~um mentioned in said notr then remainig unpaid, a~th inte~est ~ccrurd io th~t timr. arxl a!I
~ rrwncy~ secureJ hrreby. rhall becnme due and payable forthw ith, ur therrafter. at the ~~tiun of wiJ murtgagre. :?ti fully and cumple[ely ati
p if all of ihe wid cum~ of nwney werc originaUy stipulatrJ to he paiJ vn wch Jay. anything in ~aiJ note ~,r in thic nx~rtgagc to the cumtr~ry
; notaithstanding: and thereupon or thereafter, at the uptiun of ~aid rtxirtgagre. withuut notirr ur dem:inJ, suit at !aw• or in equity. may txr
pr~necutctii ac if ~II muney~s tiecured hereby had matured prior to it~ institutiun. fhc mortgagre may foredi~x: thiti rrk~rtgage, a, tn the
amuunt w declared due anJ payable. and the .aiJ premi~es shall t+e suld lo satisfy and pay the wme tugrther with cotitti. rx~xn+es. anJ
al{owancet. In casr uf panial foreclrnure of thic mortgage, the murtgageJ premi~es ~halt he x~ld ~uhjcYt to !hr cuntinuing lien ~~f this
rrw~rtgagr for the amuunt uf ~he Jebt ~ot then due anJ unpaiJ. In ,uth ca,e thr pmvitium uf this paragraph ma~ again he a~ailed uf
[hereafter from time to time hy the mortgagee.
I 1. That the rtwrtgagor will give immeJiate notice by mait to thr murtga~eer uf any~ «~m~eyarxc, transfcr, ur changc of ownership nf
the premise~. ~
12. ~I hat no waiver of anr cu~•enant herein or of thr i~bligatiun uYUrrJ hrrcby ,hall at any lime thereaflen c~ hclJ tu he a Haiver of
Ihe terms hereuf or uf the nole tiecured hereby.
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. a~ `~c'~~ ~pr.=~"J57
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