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Th3i. ~n cKikr rrr~rr fuU~ t., ,,ru~e:~ thc .e:unty a~i thi, nwrtKagz, the murtgagur, tugc~hrr w~th, a~xf aJdiuun tu. ~hr nxmthl~
pa~ ment~ unJrr tht Itrm. of thz oute .e~urcd Arrrby, un tht hru JJy uf r:~h ntunth until Ihr ~aiJ nute fully p;~id, will pay tu ~hr
nwrign~tt thc fulluMing,umti:
lal An amuunt wific~tnt to proviiit the hdder Acreof v?i~h (undi to pay tht ntxt mortgage inwtance prrmium if this inctrument and
the note secured hereby ue insurcd, ~x a munthty tharge ti~ lieu of s mortgage insurance premium) if they are hrld by thr
Saretary of Housinj arni Urban Development, as folbw~s:
11? It aod w lo~ as said note d even ~iate and this i~ntcument are insured ur are rcinsurcd under ~he provisiuns ot thc
Natioaal Housin` Act, an amount wfficient to accumulate in the hands of Ihe holder one ( I) month prior to its due dare the
annwl mortga~e insuranct premium. ~n onier to pruv~~fe su~h holJer wi~h fuacis tu pay such premium to the Sec~etary uf
Housin~ ami U~ban [kvelopment purwant to the Natiunal Hw?~ing Act. ;u amended, anJ applicable Kegulations
tt~ritucn2tr: ~r
1!!1 If ara! so long u said note ot even Jate aixt ~his instrument are hekl by the Secretary of Housing and Urban Deveiopment,
a monthly cAarEe lin lieu of a mixtgage imurance {xemium) w~hich shaU be in an amount eyual to une-twelfth (1/121 of
one-h~lf (5~1 per centum of the ave~age oWstanclina balance due on the nute cumpulcrl without taking into accuu~l
deLrpurnc~es or prepaymrnts;
lb1 A wm equal to tht g~wnd rentc, if any, nex~ due, plus the premiums that will next become due arx! payable on policies of firc
and other hazard insurance ~overing tbc mortgaged property, ptus taxes and asse~sments next due on the mortgaged prope~ty lall
as rstimsted by the mortaaaee) less all wms aheady paid therefor dividod by the numbe~ oi months to elapu before one month
pn~x to t1K date when such gtourni renu, premiums, taxes, and asxssmenu will lxcume delinquent, sucfi wm~ to be Aeld by
rtwrt;agee in trust to pay said groumi rtnts, premiums, tares, and apec.ial a;sessnients; and
Ic) All paymenu mentioned io the two precedina subsections d this paragraph and all payments to be made under the nott secured
hereby shall bt sddtd together and the aggregate amount thereof shall be paid by the mortgagor each month in a singk payment
to be apptied by the mortgagee to the fdbNing iterns in the order set forth:
111 premium charges undtr the contract uf insurance with the Secretary of Housing and Urban [kvelopment, or monthly
charge (in lieu of matgage insurance premiuml, as thc case may be; .
I lti gound rents. taxes, asxssments, fire, and other ha~ard insurance premiums;
UII) iatercst o~ the no~e securai hereby: a~d
IIV 1 amortintion of the principal at said note.
Any deficiency in the amoune of cuch a~gregat~ munthly paymrnt shall, unless made g~x~f by the murtgagor pria~r to the due Jate of
the ntat wch paymen~ constitute an event of Jtfault u~xier this m~xtgage. The m~tgager may collect a~~late chargt' uot w exce~Yi tNo
cents 12c1 fur each ~iollar IS11 of exh payment mure than 6hcen 11 S) days in azre;us to cuver the extra rxprnse involve~i in h:~ndling
~iel~nquent payments_
3. That if ~he total of the paym~nts made by the mungagor under Ib1 of paragraph 2 preceJing shall excred the amuunt uf ~he
paymcnts ac~ually made b)r 1he mortga~tet. f.x gr.wnd ~ents, taxrs and assessments and in~urarx:e premium~, as the case may be, such
excsss at the option of the mortaagoe, sha1~, be crediitd an sutuequent payments to be made by the mortgagor, or refunded to the
mortgagor. If, howevar, the munthly payrr~nu maJe by the nwrtgagor under Ihl uf paragraph 2 preceJing shall nut be wfficient to pay
gruunJ rcnts, taxes and assessmems and imsuraner prrmiums, as tht cax may be, when the samr sAalt becomt due arxl payable, ~hes the
morega~r shafl pay to tAe mextgagrt any amiwnt ne.essary ro malce up the Jeficiency, on or before the date when paymen? of'such
gound rents. tate+, asussments. or ~nsuranct prcm~ums shall be due. If at any time the m~xtgag~x shaU tr~xier to the murtgagee in
acconiancr w~ith the provivons of the n.xe srcu~rd hereby, full payment of the en:ire irxlebtrdness represented ihereby, !he mortgage~
sha1L ~n computirtg the am~wnt of such indebtedncss, credit to the accaunt of ~he mortgag~x all payments made ur?iler the pruvisions of Iul
uf pa~agraph 2 hereof which th~ ~nortgagte has not become obl~gated to pay to tht Secrctary of Housing arn1 Urban Devebpment and any
balan~s remaining in ihe funds accumulated u~xler the provisiuns of Ih' of said paragraph If th~re shall be a default undrr any of the
pru~•isions of this mortgagt, resulting in a puMic sale of the premisrs covered hereb~~, ur if the mixtgagee acquirn the pr~~rt~• utherv? ise
after dtfault, the m~xtgagce shall apply. at thz time uf thr commrncemeot of ~uch procreJings or at th~ timr thr pruperty is otherwisr
a~quirtd. the t~a~ance then rrmaining in the funds xcumulated under ~h~ uf paragraph przcc~ieng as a credit against the amuunt of
prirkipal taen rtmaining unpaid unJer ,aid nutt ~nd shall pruperly aJjwt am• paymentt whi~h ~hall have bren maJe under Iu) of wid
paragraph.
That he v?~I! pat all taxes_ assn,ments. water rate+. anJ uther governmental or municip~! charges. fine~. cx impu~itiuns. for which
proviseon has nut tKen maJe hereint+efore, and ~o default therz+nf the mortgagee may pay the same; and that he will promptl~• Jelivrr the
officiai rect~pts thrrefor to the mongager.
S. That he witl permit. commit. ar suffer rK? aaste. ~mpairmrnt, ur deterioration of saiJ pruperly or any part thereuf; anJ in the event
oC the failure of ~hc nwngagor to teep the twildin~ts on said premises and those to t+e erected on ~aid premises. or improvements thereun.
in gwd rtpair, the nx?ngaget ma~~ make ,uch repain as in it. Jiccretion it ma~~ Jeem necewcary f~x the pn~?er prcr~rvation therei~f, anJ
the iull amount of each and every such paymrnt ~hall be immcafiatrly due arn! payable, arxi ~h:ill be securtd by the lirn uf this martgage.
6. That be v?~il pay all am1 singular the c~xtx. chargec. and e~prnces, including reasanable lawyer s fees, and costs of alntracts ~tf tiUe.
incurred ar paid at sny time by the mongagee bc~ause of the failure un the part of the rtwrtgagor prumptly and ~uUy to perform the
agrcements and cmenaats uf ~id prumicwry note anJ ihis morigage, anJ said custs, charges. ar~J expenses shall t+e imme~iatrly ~fue and
pa~able a[Ki shall br sccured by the lien of this mortgage_
7. That he will keep the impro.•ements rww• existing or hereafter erecteJ on the mortgageA pruperty. insured ac may tx reyuired from
time to eime by the mongagr~ aga~nst loss b~ fire arni ahrr ha~ards, casulatin. and contingrncics in such artwunt~ and for ~uch peri~i+ as
may M required by mortgager, and w~ll pay promptl}, Mhe~ dur, an}~ premiums on such insurance for paymtnt of whKh provision hat not
been made 6ereiobefar~. ?~11 insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall _
t~e hzki by mortgagec anci ha~•e at~ached thrrrto loss payable clauses in favor of and in fixm aceeptablr to the mortgagee. In evem of I~~ts
hc wi11 give ~mmeJiate notice by mail to murtgagee. arxl mortgagee may make proof of loss if twt made prumptiy by mcxtgagor, and each
insurarwe company concerned is htreby authorized and directed to make payment for wch iuss Jirectly te? rtx~rtgagee ~nstead uf to
rtwrtgagor and mortgagre joint!}~. and the ~murance pnxeeds. .x any part therevf. may be applied by rtwrt¢agee at its option either to the
reductan of' the irxkMeafness hereby se~curt~i or to the restoration or repair of the propert~• Jamaged. In e~~ent af fure~lixure uf thi~
nwrtgagt or other transfer of tide to the mortgaged property in extinguishment of thz irxtebtr~tnrss ~urrd herehy, all right. title. anJ
interru oi thr mixtgagor in and tu any insurance policies then in (orce shall pass to the purchaser ~x grantee_
8. That if t6e premises, or an~ pan thereo(, be condemned undet any poNer o( eminent domain, or acquired for a public use.
the lama~tes. proceeds, and t6e consideration for such acquisitioa, to the ettent o[ the (ull amount of indebtedness upon thic
~Sortgage,andthe\ote secured hereb~- rPmainiu~ unpaid,are hereb~~ assigned b~~ !he )lortga~tor tothe ~lortgagec~ an~~ shall be paid
forthw ith to the ~lorc~asee to be applied bv it on account o( the indehtedness secured hereby, whether due or not.
9. That thr mortgagce may. at an} lime pen~ling a suit upon this mortgagt, appty to the court having juri,uiKtion thereof for tbe
appo~nttntnt of a rrccicer atxl su~h ~aurt shal! fathw ith appoint a receiver of Ihe premisrs covered hereby all arxl singalar, including all
an~1 singular the irkome. profits. ~~sues. and revenurs from w~hatever source derived, each a~xi evrry- of which, it being exprc.sly
understoal. it hereM~ mortgaged ac if spe~~fically set forth and described ~n the granting and hatxndum clausec hereof. anJ cuch reeeiver
' shall have all the txoad atxf effertive fanctions and powers in anyw•ise entrusled by a court to a receiver, and such appointment tihall be
macie t+y ~uch court as an admitteJ aquitq and a mattcr of absolute right to said mortgagee, and witF~u~ reteretx:e to the adequacy vr
~nadequac)~ of the ~alu~ of the propeny mongaged or to the sohency or insalvency of said mortgagor ar the defendents, and that such
rents. profits, income. iswes. and revenues shaU he applied by such receiver according to the lien of Ihis mortgagt a~x1 the practice of such
court. In the e~•ent of am default on the part of the mortgagor hereurxler, the rtwrtgago~ agrees to pa~~ to the mortgagee un demanJ as a
rrawnable monthly rental fur tht premises an amount at least equivalent to one-twelfth 11/12? of the aggregate of the twcl~~e mnnthly
~mtallments payable ~n the then cucrent year plus the actual amount of the annual taaes. assessments. water rates. anJ insurance premiums
, for such yrar not covered by the atoresa~d monthly payments.
?p. That In) in the even! of any breach of this mortgaRe or default on the part of the rtwrtgagur, ex Ib) in the event ihat any of said
wms of money herefn referred to be not prompU}• and fu8y paid M~thout demand or nolice_ or Ic) in the e~~ent Ihat each anJ every the
sUpulations. agrcements, wnJitions, arxl co~enants of said nute and this mortgage, are not July, promptly, at?c1 fully performed: then in
either or an~~ such event. the said aggrrgate sum mentioned in said rx~te then remainig unpaid. w ith interest accrued to that t:me. and all
munrys x~ured hereb~, shali t+ecome due and pay~able f~thw ith, w therraRer. at the uptiun of said m~xtgagee, as fully and completely ati
, if all of the sa~~ sums uf money were originall~• stipulated to t?e paid on such day. anything in said note or in this rnortgage to the contrarp
notwithstarnlmg_ and thereupvn or thereafter. at the option of ~aid mortgagee. without nutice or demand. suit at law or in equity. may t?r
prose~cuted as if all :noneys st~curcrl hereb~ had maturcYi prior w its instiwlion. The rtwrtgagee may fexeclose this rtwrtgage. as to the
amount so declared due and payable. and the said premises shall be sold to satisfy anJ pay the same tugether with c~nts. expenses, anJ
allowances. In ca~ of partial foreclosure of 1h~s mvrtgage, the murigagrd premises tihatl t+e sold subject [o the continuing lien of this
mortgage for [he amount af ihe Jet?t not then due ar~d unpa~d. In such case 1he provision~ of Ihis paragraph may again be availeJ of
thereafter from time to time by the m~xtgagce.
11. That the mortgagor w~11 give immediate nwice hy mail to the rmxtgagee of any cooveyanct, transfer, or change of oaner4hip of
the prcmiscs_
12. That no wa~.er oi any co~enant herem or of the ohligation securetil hereby ~hall at any~ time thereafler be held to t+e a waiver of
the terrm hcreof ix of thc note securrd hereby.
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acox221 ~~.it 583