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fh:u. ~n urJtr nx+rr f~dl~ tu ~.~u1a~1 thr .r~unly ui IF~~~ murtgagr. ti~r mur~gadur. tugr~hrr w~~h. s~xi ~n add~uun w. thr nxin~hly
parmrnh unJ~r ~hr irrm, i~f thr nutr .r~urr.l hrirby. ~~o thr fir.~ J:?y uf r:~ch numth unlil thr .:~iJ i~wr i. Iutly paiJ. Nill pay w ihr
murtbagrr Ihr fuUuwing.um+: •
lal An am.wnt ~utficient ta proviJe ~he halJer hereof with funJs to pay thr nrxt murtgagt insurart.e prcntium if th» im~rument anJ
the oute ucured herrby are insurrd, tx a munthly chargr lin lieu of a mur~gagt insurance premium) if Ihey are hclJ by the
• St+~retary of Housing and U~ban Development, as follaws: ~
111 If and w long as said note o(' evrn date and this iaurument are insurecl or are reinsureJ u~xltr the urovisiunc uf ~he
lVational Housing Act. an amount sufticient to accumulatt in the harnls of tht Iwlder one I 11 month prior to its due date the
annual mor~gage in~urance premium, in ~x~1rr to proviJe ~uch holder wilh funds to p:+y wch premium ta Ihe Secretary uf
Housing and U~ban Dtvelopmenl pur~uant tu Ihe Natiunal Nuusing Act, ac amraded, and spplic~ble Rrguluuum
therrueder; or
UU If and w lo~g a~ wid note of even Jate arxl this imtrument arc held by the 5ec~etary of Housing arnl Urban Devrlupm~a,
a munthly charge lin lieu ot a m~xtg:~ge imurance premium? which ,hall be in an artwunt rqual to une-tweU~h 11/l2l of
one-half 1 yi ) per centum of the average outstarnfing balance due on the note cumput~l w•ithout t~king intu accuunt
detinyuencies or prepaymrnts:
Ib) A sum eaual to the grourxf rents, i[ any, next duc, plus the premiums that will next become Jue arni payable on policies of fire
arn1 o~her ha~ard insurance covering the mortgageJ property, plus taxes a~d as>rssmrnts next due on the mortgaged property Iall
as estimated by'the mortgagre) less all sums already paid therefor divided by the number of months to elapx before une month
priur to the Jate when such grounJ reots, prem~um~, taxes, ancl assessments will become Jelinquent. such wms to t+e heW by
mvrtgagre ~n truct to pay ~id gruui~~i ieiits, piemiums, tazcs, and sgccia! assessmrnts; an~!
(cl All payments mentioned in the tw^o preceding subsections of this paragraph anci all payments to be made ureder the note securcd
hercby xhatl be added together and the aggregate amount ~hereof shall be paid by the mortgagor each munth in a single payme~t
lo br applieJ by the mortgagee to thr k~llowing itenu in the o~drr set forlh:
11? pr~mium chargn under the contract of imurance with the Secrctary of Housing and lJrban [~velopment, or monthly
charge (in lieu of mixtgagc insurance premium). as the casc may be: ~ -
IIU ground rents, taxes, a~essments, fire, and othrr hazard insurance prrmiums;
1111) inte~rst un lhe note.ecureri hrreby; and
~IV) amorti~atiun of thr principal of said note.
Any def~ieixy in the anwunt uf such aggregatr nwnthly payment shall, unl~~+ m3de goud by thr m~xtg.?gur priur to thc due date uf
the next such paymen~, constitutr an evrm ~f default unaler ~his murtgage. ~fhe murtgagee may collcct a~ late chargc" nut to ~xce~J twu
cent~ 12c) for rach ik~ltar IS11 uf r:xh papmrnt murr th~n fiftern 1lS1 days in arre:us tu cuvrr Ihr rx~ra ex~n,e in~•ulvrd in handling
delinq~~nt paym~nu. .
3. ~hat ii the lutal uf the payment~ mad~ by the murtgsgor unde~ Ih) of pa~agr.~ph 2 pr~rtding shall exc~rd the artx~unt of thr
pa~•ments actu•rlly maJr by the murtg~gre_ for grounJ rcnts. ~:~xrs and a+ce,.,ment~ anJ insura~xe premium~, the casr may be. such
excess at the option of the mortgagee, shall, be credilecl on wbsoquent payments to be made by the mortgagor, or refunded to the
nwrtgxgur. If, huwever, the munthly paymcntti madr by the mortgagor unJer Ih1 uf paragraph Z prctieding ,hall not be ,ufficirnt tu pay
gruunJ rentt, taxcs and :t~~r+..men1+ ~nJ imurance premiums, as thr rase may t+e. Hhen thr wme ~hall t+ecume due sixl p~yablr, then thr
murtgagor ~hall pay to the murtg;~g~e any amu?int nece+~ary ti~ make up the deficierky. an ix l~efore the datr when pa~•mem uf wch
grounJ rent,, taxr~, asx-scmentt. ur imurance premiums .hall t+e Jue. If ~t any timr ~he m~xtgrgor shail tcnJer to the murtgagce in
:ncurJance with the provisiurt. oi' 1he nute securrd hereby, ful! p:~yment of Ihe rntirr inJrbtcvlnns represented thereby. the murtK~?K~~
.h~ll. in :omputing ~he amount of wch indebtcYlnc.+, crctifit to the acc.iunt of the mortgxgix all Rayments maJe under the provisions of I~r1
uf Qarag~aph 2 hercof whieh thc murtgagre has not becomr ubligatral tu pay to the Sctiretary of Hausing anc! lirban Development ;?rxl ~ny
hal~nce remaining irt the funds accumul,~trJ under the pr.»•iciom of ~hJ of saiJ paragraph 2. If there shall t+e•:i def:~ult ~nder :in~ i~t~ the
pruvi,ium of thi. mortg~ge, re~ulting in a publir ,alr uf the premi.e+ co~~rrrd hereby, ur if thr m~x~gagee acyuire, th~ pruprrty uthrrw i~
after default, the mur~g~gee shall apply, at thry mr uf the commr~cemen~ of .uch pr~kerJing. ur at the time..thr pruprrt~ e, utherN ice
xquirrd, ihr I1:II:lOI'C thrn remaining in the tLnd~ accumulalyd under 16) of par:?graph 2 precnling as creJit agaimt th~ amuunt of
prin~ipal t~~rn rrmaining unpaid under ,aiJ n~~tr :?nJ ~hall pru{+~rl~ aJjust any payment~ which ,hall have t+rcn nwdz under 1:~) ul wid
paragr:+ph. .
J. Th~t he uil! nac all taxc~+. ~,~e„m~nt.. watrr rat~~. anJ other guvrrnmental or municipal chargc~, fine., ur ~mpo.itium, fur Hhich
pruvi~iun h.~~ not hern maJr hereint+rforr. anJ in default lhrnY~( thr murtgagre m:~y pa~ th~ ,am~; an~ that hr wiii pr~~mp~i~ ucii.r~ ti~c
oiheial r~eipt+ thrrefi~r lu thr mt~rtgagre.
5. That hr w i11 permit, commit. ur .ufier rx. w a.te, imprirment, or deterioration uf wid property or any part thereuf; arxl in the e~~rnt
uf the fa~lure uf thr ~rwrtgagor tu keep the builJings un wid pr~mises anJ those to t+e err~ t~d on said premises, ur impruvement~ thercun. ~
in g.xxl rep3ir, the rrntttgaere may ma{,r such repair, a. in it~ Ji+crrtiun it may derm nc^~r„ar~- for the pri~er pre+rrrrtiun thercnf. and
thr fuU anx~unl ~.f ~ach and ever~ ,u~h pa~ mrnt ,h:+ll t+e immrJiatrly due anJ payablr, arn1 shall br sc~urc~i b}• thr lien of this rm~rtgagr,
h. That hr N ill pay all and s~ngular th~ c~xis, ehargc~. and rxpemts. including rrasunable lawyer'a f~c~. and c.xts of abtitracts uf titte.
incurred ur p:~iJ at any time by the nwrtgagrc hecausr ~~f thr faiture un thr pari ui the m~xlg:~gor promptly :~nd fully to ~rform thr
~greementti anJ co~•enanK of said prumiscon~ nutr and thit murtgage. and ~aid c~nt+, chargec, arxf eapensc~ ~hrll h immcdiately Jur anJ
p~yahle and shall i,e cecured by the lien uf this mortgage.
, 7. -ihat he w ilt kecp the impru.~rmrnt, nuM exi~tirtg or hereafter rrecietl un the rrx~rtgaged pru~ny. imurrJ :+s may t+e rrquire~i fmm
time tu time h} the murtgagee agaimt lo~s h~• fire and uthr~ ha[ards. cawlatic~, and cont~ngencie, in wch armwnt~ and fur ~uch pericxl~ a~
m:?~• t~t requir~til hy murlgagee, and W ill pay~ promptly~. ~hen Jue. any premiums un wch imuran~r fur pa~ ment uf which provi~ion has nut
been made hereinbefore. All insurance shall be carried in compa~ies approved by morlgagee and the policies and renewals thereof shaU
t.e he1J h} m~~rlgagre and h:~ve ittachetil thereti~ I.x~ payable clauses in favor af anJ in form acc~ptable t~. the murtgagee. In cvrnt of lots
he will give imm~diate nutice by mail to mortgagee, a~xi mvrtgagee may make pnwtof loss if not maJe promptly by mortgagor. and rach
~n.urarke cr~mpan~ concernrJ i+ hereby ~uthor~red anJ JircYleJ to make payment f~~r tiuch I~xti direcUy tu nx~rtgagee inctead uf to
rtwrtg~gur and murtgagee jointly. and tht in~urance prceeeds, or any part thereof. may t+e applird by rrxxtgagee at it~ opt~un either to the
reJuctiun uf thr indebt~~lness hereby .«ur~-~l or to ihe restwatiun ur repair uf the property damaged. In event of foreclosure of this
mortg;ige ur uthcr transfrr of tiUe tu the mixtgaged property in eitinguishment of the indebtrdnns secur~til hercby, all right. tiUe, anJ
intrre~t uf the mur~gagor in anJ to any incurance ~xalicies then in forcr shall pa~c to the purcha>er or grantre.
8. Th.it i( the• premities, ur any part thercof, be condemned under anq pon~r o~ emioent domain, or acyuired tor a public u~c,
the dama~e~, proc~eds, and the consid~~ration for surh acquisition, to the ettrht o/ the fuN amuunt o! ind~btedness upon this
\lortga~~•, and thc \ote secun~d herchv n-mainin~ unpaid, are hercbv a~siRned b~- ihe \Inrt~agor to the ~1ort~eag~t• and shall be paid
(orth~.ith to Ihc~ ~1ortRaRe~ to Le applirJ bv it on account of tht• indrbtednecs Srcur~d hereb~, ~.hether due or not.
9. Tf~at the nwrlgagre may. at anp timr prnJing a,uit u~m this murtgage. apply to the cuurt having juriulicliun thereof for the
~p~x~intment uC a ntiei~•er. :,nd .uch court .ha{I lorthN hh appuint a recriver uf the premises co'vered hereby all and ~ingular, irx:luding all
anJ singular the income. prufit., i~.ue>, and re~•enurs from whaterer a~urcr derived. each anJ e~~ery of which, it heing cxprc~sly
undertitocxi. is kereby mortgagrcl as if ~pecificaHy srt forth :cnd JeuribeJ in ~he gra~teng and hat~endum rlau.es herr~~t. anJ .urh receiver
shall have a11 thr h,roaJ and effective functions and puwers in anywise entrusted by a court to a receiver, and such appuimment ~hall tx
madc by such cuurt ac ~n admittrJ eyuily and a matter of ah+olute right tu wid mortgagee, and aithuut reference w the adequac~ or
inadryuacy uf the v~1ue uf the property mortgagc~l or to the u~lvertcy or imoh~ertcy of said murlgagur or the Jefendents. nnd that wch
rents, profits. incume, iti.ues. anJ revenues chall be applied b}• wch receiver according to the lien of thiti rm~rtg:~ge anJ the prac~ice of such
cuurt. In 1hr event uf any default on the part of the rtwrtgagor hereunJer, the mortg~gur agrecw to pay to the murtgagre un JemanJ a
rcasunahie munthly rental for thc premi~e+ an amourtt at Icast equi.alcnt to onr-twelfth 11/121 of the ~ggregate of the twelo~c munthly
~mtallmrnt. payable in the thea current ~~ear plus the actual amount of the annual.taxec. as~e~timentt, wciler rat~s, anJ in,uranee prrmium~
for wch year nut covered by the aforesaid monthly payments.
~0. That lu) in Ihe event of any hreach nf this mortgage or default un thr part ~~f the rtx~rtgagor. i~r Ih) in the e~~ent that am~ uf +aiJ
sums uf money herein refrrreei to t+e not prumpUy anJ fuUy paiJ without drmand or nWice. orl~ l in the event that rach and e~•ery the
titipulation.. agreements, cunditionti, and covenants uf caid aote and this morigage, are not dul~~, promptly. anJ fully prrfixmed: then in
either or any cu~h evem. Ihe caid aggrcgate wm mentionrd in ,aid note thert rem~inig unpaid. w i~h intcrest arcrucJ tn thrt time, arxi all
rrH~ne~~+ securrd herehy, ,hall become due anJ pay:+blc forthM ith. or there~fter. at the ~~tion of ~aid morigagee. as fully and completel} a~
if all uf the wid wm~ of rrwncy Nere c~riginally stipulateJ to be paid un cuch Jay. anything in wid note or in thi~ nwrlgage to the .~~ntrary
notw ithstanJing: anJ thercuMm ur therrafter. :~t the optiuo uf tiaid rrx>rtgagee, w ilhout notece u~ Jemand, suit :~t laa ,~r in equity. may t+e
protecuteJ a~ if all rtwnepc ,ecured herehy haJ matureJ prior to its instiwtion. The nu+rtgagee may f~xeclose Ihis rrx~rlgagc, as tu ihe
artx~unt so Jeclared Jue anJ payable. :~nd the ~aiJ premi~ shall be x?IJ to ~atisf> and pay the s:ime tugether with cmts, etipensrs. and
atluNancet. In ca~e ~~f partial furect~nure of thic murigage, the m~xtgageJ premi~es ~ha!! he u~ld wbjecl to the continuing lien of this
rrk~rtg:~ge for the amuunt uf Ihe debt not then dur :inJ unpaiJ. In such catie the provitifonti of this parsgraph may again he a~aileJ ~~f
Ihereafter from Iime to timr b} tne mortgagee.
I1. That the nwrtgagvr w iN Fi~e immrdiaie nutice hy mai! to the morigagee of an~~ com•eyance. tr:~nsfer, or change uf ownenhip of
ihe premise~.
12. ihat nu µaiver ~~f an~ cuvrnant hrrein or uf ihr obligaliun secureel hereby ~half at anq time thereaRer hr heW ti~ t+e a w~iver of
the term~ hrreaf i~r uf the notr ~ecured hereh~~.
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