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Ih:q. ~n.,rJrr nwar ti~ll~ w pr.~l.~t thr.~:urity uf thi~ nt.~rt~agr, thr nnati.~~;~~r. tug~•~hrr «~~h. :u~J ~n u~ldiuun t~~ ihr nn~nihl?
p.~y'mrnt~ undrr Ihc Irrm~ uf Ihr nutr ~riw~yt h~rrhy. ~~n th~ fir~t d:q ut ra~h na~nih unti) thr .acJ nutr luily p.ud. aill p.~~ t.~ thc
mu~tgasar thr fulluN~nb.um.•
~a1 An a~rn~unt ~uflx~enl to pruv~Jt the hulSrr hrrrui wilh fun~i. tu p~y tt~r ticyt iiK~iib.i~~ ~~,urxr.:r prrm~um ef th~~ ~n.~rumrn~ nnd
the nutr +ecurcJ hrrcby •rrr imurtil, ~x •r munthly charge lin lieu .~f ~ murlgage inw~ance prrmiuml if thry are hrW hy thr
Scv:retary of Nuwing anJ L'rban [kvelopment. :u folluw~: - '
ll) 1( and w lung a~ saiJ ~ote uf cven date anJ ~his ins~rumrn~ are in.ureci or are reimurc~i unJer the nr~+v„iom uf thr
National Housing Act, an amount suf'ficient to accumulate in the hanJ, of the h.ildrr uoe 11) month prior to ilsdue J~te thr
annual rtxxtgagr in.urance premium, in urdrr tii proviJ~ ~uch hulJer with fund~ ta pay ~uZh premium to thr Secrelary uf
Huu~ing and Urban Ihvelopmeot pursuam ta th~ N~tiunal Huu~ing Act, a~ am~nJrJ, and appli~;uble Rrgulatiun~
therrunder; or
1111 If and w long a~ ~aid note uf rve~ Jate anJ this imtrumrnt ure hrlJ hy the Secretary of Houtiing anJ llrban [~vclupmen~.
a mumhly charge lin lieu uf a mortg~ge insur:~nce Exrmium) Nhirh .halt br in an anx~unt rqual to one-twrlfth (1)12) uf
onr-half per centum of the averrge aut+iarxling t+alance due un the nute ~omputrJ w•ithow taking into account
del~nyurncies ~x prepayment~;
tb1 A wm ryual ta lhe grourxi rrnts, if any, nect due, plus ~he pr~mium~ that w•ill nrxt Arcumr due ~nif payablr ~?n ~li~;ies of fire
and uthrr h~tard insurance covering the mortgagrJ ~xopeny, plus ta~rs and a~ce.+mrnt, nett Jur on thr m~xtgagrd properly tall
us extimated by the mortgagee) Itss all sums alrcaJy paid therefw dividctif by Ihe number uf months ~o elapsr before une manth
pnor lu the date w•hen wch gruund rcots, prem~ums, tazrs, anef :nce+strtentc will bctiume Jelinyuem, tiuch wmt tu br held hy
:
mortgagrr ~n i~ ust iu yaj ;.:~:i g.u:;~c~ :c: - 3;'" ?c! - , ,
(cl All paymrots mentioned in the tv?~o prec~ding sutxections of this paragraph aixf+all pa~.ments to be maJe urxier the note cecured
hereby ~hall be addec! together and tfee aggtrgate amen~nt thrrrof' ~hal! be paid by the rtx~ilg~gur r:?ch month in a~ingle paytnent
_ tu t?e applied by the mortgagee ~o the Collow~ng itrms in ~he arder ,et furth:
11) premium ch:~rges under ~he contract of inwrancr w~ith the ~cretary uf Hou~ing and Urtwn [hvri~~pmen~, ur rtx~nthly~
charge (in iieu of mortgage insurartce premium). ac !he case may t~:
lil) grounJ rent~, taxe., assessme~ts. fire, anJ ~uher hazard imurance prcmiums:
IIIU incerest un the not~ secureJ hrreby; anJ
(tY? amortitation of th~ principal of s:~id note.
.any Jrficiency in the amuunt of such ag,grcgatr monthly pa>ment ~hall, unl.ti~ maJe guaJ hy thr murtga~.x priur tu the duc date uf
thr nrxt cueh paymcnt. eonstitute an r~•ent ut Jrfault under thi~ mortgagr. 1 hr murtgagrr may cullrct ~~lat~ charge" not tu ~xcreJ tau
cent~ 12c1 fix rarh ik~llar 151? ~?f eMh paymrnt mure th:io fitter~ I IS1 day+ in arrran to rc?vrr ~he r~tra rt{w:n,r involv~yi ~n handlin~:
Jrlinyuent payinentc.
That if the tutal uf thr payment. maJe by thr mungagor unJrr Ih1 OF F1:1(:!(Lf:1~1F1 pr«:~ding ,h:Jl ~~crrJ ~h~ am.~unt uf 1he
paymentc xtu:ilty madc by the m.xtgager. fur gruun<t rentc, t~ze. and ~+~cy.ment~ anJ i~.i~rarke prrm~um,. :J1 (}1B l'JSC m~y he, ,uch
excess at the option of the mortgagee, shall, be credited on subsequent payments to be made by the nwrtgagor, or refunded to the
murtg:,gur. If. huWe~~rr, the munthly pa~•m~ntc made b}• thr murtgagor under ~A1 uf paragraph 2 pre~rJiog chall not tx ,ufficirnt t~~ pap
gr.~u~xi rrntc, taxe~ arxl as~rssmcn[c and inwr:sncr prrmiums, ;~s thr case m:!}• hr..uhrn the same ~hal) ixcunt~ Juc und payablr, thrn thc
nu~rtgagur ~hall pay to the mixtga~re any anwunt nctr~tiar~ tu mal~ up thr Jrficirn~y, :~n ~x hefurr th~ datr ~hcn pa>mcnt uf +uch
gruurxi rcnh, tarc,, a~u~cmrnts, ur imurancr premiums ,hall t+e due. It at am Ume Ihr m~xtgagur ,hall trrxter tu thr mortg~gec in
accurJancr with the pm~iciunc ot thc note ,ecured hereby, (ull paymem of the rnt~re inJ~htrclnc~ti repn-xnted therchy, the nx~rtgagre
~hall, in computing the amuuM uf w~h inJehhtiinec~, er~tilil tu thr accoum uf thr m.xtgagix all paymrnt~ maJ~ uzxier thr pruv~,iuns uf iul
u~ paraFr:~ph'_ hereof ahich the mortgagee hac nut hecome ohligat~Yi tu pay tu the tie~retary of Hous~ng a~xi l:rhan Dr~•~lupment atxi any
h;ilaacr rrmaining in ihr fun.lc ~cumulatrJ unJer th~ pruvisium of (bJ of saiJ paragraph 2. If there sh.ill he a drt:iul~ urxlrr ;~ny uf th~
pruci~iom uf thic murlgage. rrtiulting in a puhlir ,:dr uf thr prcmi~~~ cuvrrc~! hrreh~•. ur if thr m~xt~:~gec aryu~re~ ihr pruprrt~ uthrr~~ i.e
aQer drfault, th~ mortgagre ~hall :~ppl~, at thc timr of thr ~ummrncrm~nt uf.u.h pr~kerJ~ng. ur th~ timr thr pr~~~xrt~ i. uthcrai~e
acyuirrJ. ihe haL•~n~e lhen rrmaining in thi funJ+ at.umulat~~i under rh~ of pxra4raph 2 precrdin~; crrdn agaiml thr :~muunt uti
pnn~ipal then rrm~ining unpaiJ under .aiJ nutr anJ ~hall pruperl~~ :idju,t :~n~ pa~mrnt. Hhich ~h:dl ha~~ lk~n maJr und~r I+i1 ~~f +;~iJ
paragraph.
~J. I~FiBI FiC NIII ~J)' :lII 1:l!(t'ti, :l11L'11R7rOh. N;flCf f:flc'1. and uther gu~~~rnmrnt:?1 ~,r municipal ch:~rgr+, finr,. u~ imEr~,itiun.. fur ~h~,h
pruvi+~~m hs. nut hren ma~le hrr~int+~fur~. and in Jrtault thrrroC the murtg.~gr~ ma} pay thr .:~mr: ~nii thal iir ~iii pru~npti} .irii.c~ ~i~r
uffiCi:J rec~ipt~ ihrr~fur ti~ the murtgag~e.
' S. ~hat he will permit_ rummit. ur .ut7rr nu.~a,tr. imp.urmrnt. ur deteriu~ atiun uf ,:~id prupert}• ur :~ny part thrr~uf: an~ ~n thr c~rnt
~~f ~he faiiure uf the mortgagur to kerp the huild~ng. un .aiJ prrmix-+ :ind thutir iu b~ rr~~trd un ~aid prcmi,r.. ur impru~~~mrnt, thrr~un.
~n gixxl npair. Ihr rrx~rtgag~e may makc ~uch repairs a~ in ih Ji~cretiun it may dtem n~~ic~,~n~ for the pruper prr~en:uiun ~hereoL and
' thr full arrH~unt nf ~~ch :~nJ ever~~ cuch papm~nt .hall t+c immraiiately Jue and payaMc. :tnJ ~hall 1.~ tiecure.l by the lirn ~~f thi, rrsortgagr.
6. ~hat hr will pay all and cingul~r the c.xts. chargc~. and rxExnx~,. incluJing reatiunahl~ la~~er's feec, and co~t~ of ab~tracts of tiU~.
incurritl ur psid at any time b~ the murtgagrr hrcau.e uf thr Failure un thc p:~rt ~~f thr rtwrtgag~~r pr.~mptf~ :~nd fully tu ~rturm the
:~grermrnt. and currnanu uf wid prumi.,ory nutr and thi, murtgage. ~nJ ~:~iJ c~nt~. ~h:~rgr~. :uxl expcn+~ti ,h~ll fx imme.lr~~ely due and
ps~ aMr anJ .hall t+e crcured hy the lien of thi~ mortgage. -
7. T hat hr wilt kcep ihe improvement, noM eti.ting or hereafter erecteri on ~hr murtgageJ pruprrt~. ~murrJ a, m:~~ tx reywrc~l frum
Ume to t~mc_b}• the murtgagee against lus, hy firr and ulher har~rd~. cawlati~~, anJ contingen.:ie. in cuch :um~unt~ and fur ~u.h periud~ a~
may t*z r~~yuirrd by mortgagee, anJ will pay prumpily_ whrn dur, any premiums on wch insuran~c fur paynxnt of which pr~~~i,ion ha~ nut
been made hereinbefore. Alt insurance shall be car~ied in c~mpanies app~roved by mongagee and the policies and reneN~als thereof shall
br hrW by murtg:~gre and havc attached Ihereto lusz p•r}able clau~e+ in favur uf and in furm ~ccrptahlr tu thr m~~rtgager. In cvent ~.f lu~.
he w ill gi.•e immcdiat~ notice by mail to murtgager, and rtx.rtgag~r may make pr~wf uf lu,s if rx?t m:?dc prompU~ h~ murtgagur. anJ rach
in,urancc rumpany cuncerneJ ic herth}~ authoreteJ and directeJ tu make payment for wch 1~.~+ directly to nxxtgagee imt~aJ uf tu
, nwrtga~ur anJ mortgagee juinQy. aod the imurancc pr.xeeds. ur any part then~~f. may t~ applied by rtx~rtgagee :u it. optii~n either tu thr
rcJuctiun uf Ih~ ~nJeMrJnr~~ hereh} ~urcJ ur tu the rrtituration ur rtpair ut th~ pruperty damagrJ. (n cvcnt ief forcclu.~uc of this
murtg:,gr ur uther trarnfer uf titJe tu the murtgagcJ pn.pcrty in r~tingui+hmrn~ uf Ihe inJ~hteJnr.~ ,ccureJ hercb~. xll right. title. anJ
intere.t ~~f 1h~ mur~gagur in anJ to any ~ncur;~nee policie, then in fixce shall pa~c to thr purchatier ur grantee.
8. That i( thr pn•mise., or an~• part thereof, be cond~mned under anc po~.~r of ~•minent domain, or a~ quin~,1 lor a public u.c,
the Jama~e•~, pro~ eeds, and the consideration for ~uch acqui~ition, to the ext~~nt o( the fuN art~ount ind<•Lt..~dnr~s uFwn this
~lurt¢ag<~,,indthe\ote secured hereb~ rem~ininR unpaid,art• hereL~~ as~i~n~d L~ thf• \turt~a~or tuth~~ 11ort~a~~•f~ .~n~1 shall br p,~id
(urth~.ith t~~ tht• 11ort~aeef• to be applird b~~ it on account of thF indebtr~lnf~cs crcurPd he•n•h~, ~.hethc~r due• ur not.
9. That thr mortgagrc ma~. at anq Iimr prnding a tiuit upcm thi~ mortgage. ~ppl~~ tu thr ci~art hacing juri,Jirtiun thercuf Pur thc
~p~nntmrnl uf a r~tieiver. ~nd wch cuurt ,hall fixthw ith appuint a recrivrr uf th~ prrmi~~~ co~•ereJ hereh}' all a~d .ingular, incluJing all
and .ingular thr incume. prufitti, i»uc~. and re~•cnu~. frnm ~hxtr~~er wurc~ derived, each anJ evrry ~~f which, it t+cing erpre~~l~
unJentuixl. is herehy murtgageJ a~ if ti~x~ifkallp .rt fi~rth :~nd Jc-tia riF~ed in the graming anJ habenJum clautie+ hercof. nnd ,u:h r~tirivrr
shall have all the broaJ anJ effective function~ and puwer~ in an~wi~r entrusted by a court to a receivrr. anJ +uch appumtment ,hall be
maJr by .uch court a~ an aJmitted equi~p and a malter uf ahwlute right tu ~aiJ mortgagee. and withuut referencr tu the aJryu~cy ur
in:~dcyuacy of thr value of thr proprrty murtgagrd c~r tu the u.l~~enc}• or entuJveocy uf .aid rra~rtgagur ur Ihc JefenJent+. anJ that wch
rent~. profit~. incomr. i~.ues, anJ revenue, chall Mr applied M.uch recei~er :uc~~rding to the lien nf thi~ rrH~rtgage anJ the practicr of ,uch
cuurt. In the c~~ent uf any default on the part of thc rtx~rtgagor hereunder. thr mortgagur agre~~ tu pay t~~ the martgagr~ ~~n Jrm:~nd ati a
rca,unahle munthty rental for the premi~ an amount at least eyuiraleo~ !er unr-t+?clfth 11J12) i~f thr aggrcgate uf the t.+el.~ rtxmthl~
imtallmen~s payable in ihe then current year pluti the actual amuunt uf the annual ta~rs, .i,~r,.mrnn. ..:~trr rate~. ~nd imuranre premium~
(ur tiuch yerr not co~ered by the aforesaid monthly payment~.
10. that lu) in the event of any hrrach uf thi+ murtg:~ge ~~r defauU un 1he part uf the rtu~rtgagu~. ~~r (hf in the rveni Ihat .,m uf +.~iJ
wms of muney herein referrcYi to be not prumptly anJ fully pa~d without Jrmand or nouce. ~~r Ir 1 in the rvcnt that ~ach and e~crr thc
.Upulati~im, agrremrni~, conJiliuns, anJ co~•enants uf .aid nutr :~nJ Ihiti murtgagr. •rre nut July, promptly. and fully prrfurmrd: then in
either ur any wch event. the tiaid aggr~gate wm mentiunrJ in .aiJ nute then rrm:+inig unpaiJ. W ith intere~t acerueJ !o that time. and all
rtx,nc~, ~urrS hereb}. .hall bccume due anJ pay~ble furthw ilh. ur thereafter, at the option uf .aiJ m~Ktgager. ac fully anJ cumplrtrl} ati
i! :~11 of the wiJ wm~ of rixmey Nere origina4y chpulateJ t~~ t.~ paiJ un ,uch Ja~•. anythi~g in .aiJ n~»r ur in thiti nwrtga~r to thr contrar~•
nulw i~h~tanding; anJ ther~upun u~ thereaRrr, at the uptiun uf ~aid mortgagre. H ithuut noucr ur JrmaoJ. ~uit _~t law ~rr in eyuity. ma~~ br
pru~rcuteJ ac if all muney, secure-~f herehy haJ maturctl priur W ih in+titutiun. "fhc murtgagre may f~xc:lutic thi. nx~rtgage, a. to ihe
:+rtiuunt u~ JrclareJ Jue and pa}ahle. anJ the wiJ premi~e~ ~hall be wld ta ~atitif~ and pay th~ wmr tugether_ ~ith cu,t., r~~xnu~. :~nJ
~Iluwanceti. In case of partial forr~lutiure uf thi~ mc.rt~~g~. the mortgagrJ prrmi~ec .hall he w!J .uF+jctit to Ihr c~~ntinuin~ fien of thiti
murtgage (ur thr ~muunt of thr drht not then Jue anJ unpaid. In ~unc ~atie the pr~»•itii~~m uf thi. paragraph ma} :~gain hr a~aileJ of
Ihereafter from time to time by the mortgagre.
I l. ihat the rrx~rtgagur w~II givr imm~Jiate nuticr hp m:~il to the murtgagee ~~f anp rum~yanre. tramfrr. ur changr of uwnrr.hip uf
thr premise,.
12. 1 hat no wai~er uf an} c~~~•rncint hercin or ~~f Ihr ~~hligation secured hereb~ ~hall :+t :im• umr Iherr;~fier he hrld to he wc~iver „f
the terms hereof i+r uf the rtotc.ccure~ hrreh~.
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