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fh.?t. ~n urJcr m.irc fully t.. pr~~tavt thr .r:unt~ u( thi. mu~~g~gr. ~hr nx~~tgegur, t~~grlhrr wuh, anJ ~n ad~l~u~~n tu. ~h~ ~zx~mhl)
pa~mrnt+ undrr thi tcrm+ uf thr rutr +riurcd hrrrh~. ~m ~hr hra Ja~ uf r:hh mumh unUl Ihr <aul nuic (u'ly paid. H~II pa~ ~u thr
nw,itg.?grr Ihr fi~11.~Ni~b,umc:
1~1 An :+m.wnl ~ufficient to pro.~ etx h.dJer htrruf Nith fund. w p:+y thr ntxt rtxx~gage ~n+urancr premium if th~~ imaument anJ
the nute secured hereby arc enwreJ, or a munthly charge ~in Geu uf a nxxtg;~se imurance Eurmiuml if thry nre n~w ny ~ne
5ecretary uf Nousin~ and t-;rban [kvelopmenl. a~ [uiluv?s:
111 If a~xi w long as saiJ rwtz of even date and ~his imtrurt?ent :ue inwrni o~ aro reinwrrd unJer the pmvi~iuns of th~
National Housing r~1ct, an amount wfTicient to accumulate in the hand~ of ~hc ix~lder one 111 month prior to its due datc tht
anoual rtartgage in~ur•rnce premium, in cxJrr to pruviJe such holdrr wrth funJ~ to paY +u~h premium to Ihe Secrctary c~f
Huusing ancl l;rban L?e.eluprttrnt pursuant tu thr ~atiunal Huu~ing Act. :u amrnJad, arxf applkaFit Rrgulatiuns
thereunJer: ~
t1U If and w long :?s ~a~d nute a~f z~'en ilate anJ thi~ in+trnmr~t :~re heW by the Sctirctary of Hou~ing arxf Urban [~vrlupmrnt,
a nwnlhly clwrge I~n liru ~•f a mortgage insurrncr prem~um? whi~h +haN t+e in ~n anxwnt eyual to unr-tweUth 11112) of
one-half l'~~ 1 pcr cenwm of the averagc outstarnfing t+alance dur on the nute computrd without taking into accouM
del~nyurnc~r~.x prepa)ments;
1b1 A wm eyual ta the gruurnl reots- ~ny. ne~t Jut, pluti the prrmiums that will nrat become Jue srni payable on policie+of fire
and other hazard inwrance cover~ng ihe mortgagai pr~+erry. plui tatec and a»nsmcnt+ nrxt due un the m~utgagrJ pr~{+erry (all
as estimated by the mortgagee) Irn a11 sums already pa~d therefor div~Jed by the number of months lo elapee befure one monlh
pri~x to the date v?•hen such ~ou~x1 renu, prcm~ums, taxes, and asses~mentc v?i11 become delinyuent, such .umc to be hrld by
rtr~rtgagtr in trust to pay ~aKlBrounJ rtnts, prtmiums, taars, anJ special :uies~mrnts; and
~c1 p11 paymtnts mentiorxd in the tMe prc+ceding subsections ot this paragraph and al) payments t~ be madc unJer the note xcured
hrreby +hall be adJed tv6etl?zc and the aBBTiR3tz amuunt thercof ~hall be pa~d by the rtxxtgagor rach munth in a+ingle puyment
to be appl~al by the mwtgagee to [ht foliuw inx ~I~rm in lht ordtr ~et forth:
~U ptemium :harges undrr the cuntract of ~murancc with the Secretary of Hou.ing and l~rb3n [k~•clopmrnt, or rtxmthly
charge lin lieu of mortgagr insuranct prem~um?, as the cax may be;
1111 gruund rcnts, taies. asctcimtnts, fire, anJ othrr hatard inwrance premiums;
11111 interest on the nae ~ecurnl herzby: aexi
11~'1 amortitation of the pnncipal of said iwte.
.~ny dcficictk~~ ia the amuunt uf ~uch :+ggrrgatr munthly paym~nt +hall, unlc~. maJe g.xxi b~• the m~xtg:+g~K priur lu ~hr dur il~t~ uf
thr next wch paymrnt. comt~tute an r~•ent of drfault unJrr this m~utgage. I he murtgager may cull~t ~~latr charge ~ nu1 tu rticrrJ tNo
:rntc 1?c1 for each Jollar 1Sli of ra~h pa~mrn~ murr than fiftrrn I IS1 days in arrc:uti to cuver thr titra rxpc~~sC inv~~l~rd in h~ndling
.irlinqurnt p.+ymcnt~ - '
3. Tha~ if the total of' the paymznt+ maJr by the mortgagor unJer ~h1 of paragraph 2 pr~leding +h~ll c~cerd thr anx~unt uf the
p~yments :+ctu31l~~_ ma.ie ty the mortgagrr. f..r ~truund rents_ ta~e+ a?xi acsc~,mrnt~ and ~mura~x:t premium.. thr ~a~ may be, +uch
excess at the option of the mortgagee. shall, be crcJited on wbsequent payments to be made by the mortgagor, or refunded to the
rtw.rtgagor. If. however_ tht munthh• pa~mrnt. madr b~ the rex~rtgagur under IM uf paragraph 2 prctieJing ,hall nut Ge sufticient tu pay
gruurxl rem~. ta~rs arxi a~tirstimrmc anJ mwran:r E+rrmwmt. ac thr case may t~r. Nhen the came ,h:~ll lKCUme due anJ payabl~, then the
mortgagor chall pa~ to the murtgagrr :.ny ama~unt nnrcti:+ry tu maAr up the Jrtici~n~y. un .x t+~forc thc Jate Nhen payment ~,f w.h
groun.t rrnt+. ta~~ assessments_ ur inwran:r prem~umc .hall he due. ~f at am• time the m~xtgag~x shall tenJrr tu thr mortgagee in
accordanct uith th~ prowcium of thz note ~:urrJ hrrtby. full payment of the rnure ~nJebtedncy~ representeJ thereby, the rtwrtgager
~hall. in camputm~ thr amuu~t of ~uch inJeMctilne+~_ crealit tu Ihr aeeoun~ of thr mcxtgag.x all payment~ maJr unJer Ihe pruvitiions uf lul
of p:?ragraph 2 hrr~of which the mortgagee ha, not hrcume ol+ligatrJ tu pa} tu the Secretary• of Housing arxl l:rban Qevrlopment :+nJ any
halancr remaining in tht fucxls accumulatra3 urnizr thr pro~i~i~n+ of Ih~ uf yaid par.?graph 2. If therc +hall b~: •r drfault urxicr any ~~f thr
pru~ i+iunc uf Ihiz m.xtgage, reculting in a puhlic .:wle uf thr prrmi~rc cu•~ere~i hereh~~. or if Ihe m~xtgagee acquire~ ihr pruprrty uthrrw iu
afttr dtf:~ult. thr murtgager ~hall apph_ ~t the umt vf thr cummrn:emcnt .~f w~h pr~wr~ding~ ur at thr time the pruperty i~ other~~u
xyuired. the balance thrn remainme in thr funJ, a~cumulatrd unJrr ib~ UF ~Sf3i,'f:4F1D pr~ti~d~ng a~ a crrdit again~t thr amuum of
prmcip~l thtn rtmrining unpanl unJer w~d n~~t~ arxi .hall pruprrly adju~t ao~ payment. N:~:~Fl 1F1:1~I Fl:l~C f+ern m:rdr under lul uf ~:+iJ
psragraph.
That he N~0 ~+a~ all ta~r~_ a~+r+~mrn1~_ :?attr ratr+. an.i ~.thtr go~ernmrotal ur mumc~pal char~~~. ti~r., ur im{x~~iti~~n.. fur .+hirh
pro~~+iun ha+ nut heen madr herr~nhfurr_ and ~n J~fault thtrcti~f the murtgager map pa) the ~amr: and lhat ht Nill prumpth~ deliv~r the
uftic~~l rneipt~ thercfor tu thr mortgagr~.
5_ That he Nill prrmit, commit_ or w1Trr no w•a,tr. impairmen~, or dr~erioration of wid pn~+ert~• or a~y part thereof: arxi i^ <<rnt
of the failure of thr ?rn~rtgagvr to keep the hu~W~ng+ on +aiJ prcm~st+ and tha»e tu br erctited un ~:+id prcmi.r., ur improvemc~.ts thtr~un.
! ~n good rtp'a~r, tht trw?rlg:tg~ ma) malt su~h rrpain r, in ~t, diuretiun it may drem aece+~ary f~x the pr.~r pre~rrvatiun thercrof. and
` the futl amount uf each and e~en- su.h pa~mrnt ,hall Pr imrmtliately due anJ p~~•abtr. anct tihall t~e se~urecl by the lien of thic mortgage.
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That he will pe~ all rn~1 ~~ngular the :u+ts. chargc~_ anJ r~prrt~e+_ inclu~!ing r~a,unable law}~er'c fer+. and eucts of ab+tracts uf title.
} ~ncurr~i ur paid at am timr b) the murtgagrr t+r~~u~ vf the f:~~lure un the p:~rt uf t. : murtgagur prumplly~ and fully to ~urform the
agreem~nu anJ co~enants of ssid promi+sor} notr anJ thit murtg:?gr. and tiaid cu+t.. ~h.irget. arn1 c.~~meti ~h:~ll be immrJixtely dur snJ
€ p:?~able and shall t+e Secured by ihe lien of thi~ mort¢agr.
r That hc wiU ?eep the improvements nuw er~sting or he~rafter erect~tif on thr murtgagrJ pruperty. ~nwreJ •r. rr~y' t+~ reyuirc~l from
; time to time by the mortgagrr against l~»i by hre ar•~ ~ther h:vardti_ ww{au~~+. and cuntingen~it. in wch amuunt~ anJ for ~u•:h peri~xlti a+
= ma}~ t+e rrquirrd th~ mon~agzr_ and will pa}~ promptlp. ahen Ju~_ any prcmiums un.uch insuranre for p:i~ ment uf whwh pru~i+iurt ha~ nut
; been made hereinbefore. All insurance sha1~ be carned ~n companies appro.ed by mortgagee and the policies and renewals thereof shall
: t~e hrW b~• mortg:?Leer and ha~e atta~hed thertw tvss pa}:+ble clauses in fa~ur uf anJ ~n furm acceptahlr tn ihe murtgagee_ In event of lost
~ he N ill gn~e immediatr nu~i~e b~ mail tu murtgrgee. arxf rtwrtgaiee may make pruuf of I~ns if rxit maJe promptl~~ h~• mortg.~For. and each
g ~mur:~nce compan~ ce~:ernrd is hrrnc~ =:.+hurirrd and directed te make payment for such Icns direcUy to rtwrtgager imtead uf tu
; murtgagor and m.xteager jointly. an~1 th; ~nsurance proceeS~ cx : ~y part thereuf. may be applied b~~ murtgagre at itti optiun eith~r to the
~ reduction of the irxlrhteain~.+ herehy xzure,i .~r w the rr,toratiun .x rcpair uf the proprrty d~mageJ. In e~•rnt uf fure~lu,ure uf Ihi~
~ riwrtgngi ur other tramfer of tiile to the maxtgagrd pruprrtq in rstingwshment uf tAe inJebt~tiinc~> >~YUred hercby, all right. title, and
; inttrnt of the mortgagur in arxi to an} imuranc~ pulic~ec then +n force shall pacs to the purchasrr or grantee.
~ 8. T~at if the prem~se~, or anv part thPreo(, he coademned under anv po~ser of eminent domain, or a~•quir~~1 lor a puLlic u.i~,
~i thc~ .3amases, proceeds, and t6e considerati~n (or such acqui~itian, to the extrnt of thr full amount of indr.Ltedne~s upun thiv
~ ~lortg..~e,andthe\otc secute3 hereb~ tr-~ainin_ unpai~f,dtP herebv a~~igned b~ the ~Intt~aR~r tothe• \lurt~~~-f~ and shall be paid
~ forth~.ith to thF ~lorteaeec to be applicd b~ it uo account uf th.~ indelnednP~~ ~c~'ured h~reh~~, ~+hether duc or not.
~ 9. That thr rtwrtgagrz ma~. at am e~me prnaline a w~t up~m thiti murtgage. apph to the cour~ having jurixiictiun lhereof ~ur the
- ap~.intrtxnt vf a recci•er_ arxi wch cuurt .hall f~xthwith apEwint a rece~ver uf the premi,e, co~'ereJ hereby a{I arxi +ingular, incluJing all
arxi singular 1he ~n:ome_ profih_ ii~uc~_ snd rr~eour~ frum ~hate~er wurce deri~cY1_ rach and even~ uf which, it being eaprr.sly
undrrst~wJ. i~ hereb~ murtgaged as if ~pecifically~ tirt forth :.nJ d~nhrd in the granting anJ hat+rnJum clauu~ hereuf, anJ ~uch receiver
- shall have all the t~road anJ efTecti~•e functiuns anJ poN~ in amN ~se e~trutttd by a court to a receiver, and such ~ppuintmrnt ~hall be
made by wch cuurt ds an ~Jmitte~l equity anJ a metter id at+wlutt right to said rtwrtgagee, anJ Nithout rrference to the aJeyuacy or
inadequacy uf the valur of the proprrt} mortgagrd cx t~~ thr rol~•ency or in,oh~rnc}~ of ,aid rrwrtgagur ur the JefenJents, and that ~uch
~ rents. profits. income. itsues. and re~~enues ~hall t+e applird tn +uch receivrr according to the lien of thic murtgage and the practice of wch
- ~ourt_ In the e.ent of am default on tht part of the rtwRgagur herrurxler. Ihe murtgagur agrec~ to pay~ ti~ the murtgagee un demanJ as a
~~i reawnable munthlt rental for the prem„e~ an amuunt at le:ut eqw?alent tu one-tNelfth ~ 11121 uf the aggregate of the twelve rtwnthly
~mtallmrnts pa~able m the then currrnt ~tar plus the actual artwunt ~~f the annual ~axn. a.tie,.mentti_ uater rate~. anJ inwran.e premiumc
for such yrar not co+err.i by the afore~:?id monthl~ pa~ments.
]p. That lu? in the e~•eot of any hrrach uf thi+ mcxtgag~ ur Jefault un the part uf the rnurtg~g~~~. ~x Ih) in the event that any of ~aiJ
'V'~ surrn of maney herein referrai to t+t not promptl} and (ully pa~d withcwt demand ur noticr, ur 1~ 1 in th~ rvent thal rach and ever}~ ihe
_ Stipulatwn~. agreements. conJitiuns. and cu~enants uf ~aiJ nuir and this mortgage. are not duiq_ prumptly, arxl fully performrJ: then in
- r~ther or an} such e~ent. the said aggregate sum ment~oned ~n ,aid n.~te then remainig unpaid. w ith interetil accrued to that time. and all
rtwneys se:urtd herrh}. ~hall Frcorr~e Jue anJ pa~ahlr fixthw ith_ or thereafler. at the upUun uf saiJ mortgagee. a+ full~~ anJ cumpletely a+
• ef all of the tiaid sum< <~f mune~ wcre unginaii} ~t~pul~trd to hr paid un .uch Jay. an~thing in wid n~~te ~~r in this mortgage tu thc contrary
notw ~thstarxlmg: and lhtreupun ..t ihereaftrr. at the uptivo uf ~aiJ murtgagtr. wdhous nou.:e or demanJ. wit at law or in equity. may t+e
= pr~uted a~ if all rrK~neys tiecured hereb~- had mawr~Yi pnor to iis intititutiun. The rtx~rtgagee map fureclutie thi~ mortgagr. as to th~
- artwum w declared Juz anJ pa~able, and the ~a~d prem~us .hall be sold tu ~atisfy and pay Ihr +amr tugether with co.t~. e~~xnscs. aod
= alluwancts. In cax uf part~al f~eclu,ure of this m~.rtgage. ~he m~xtga¢rd pr~mi,rc ,hall be v~IJ wbject to the cuntinuing lien of this
` rrx~rteage for the amuunt uf the dtbt nut thtn Jur arxf unpaid. In +uch cate the pro~i.ium uf this par•rgraph may again be availeJ uf
thereafter fre~m time to t~me M thr m.xtgngee.
11. That the rr~rtg~gu~ ~ d~ B~~'~ immediate nuuce b~ ma~l io the mortgagee uf :~ny cunveyarne. transfer. or change uf .~wnenhip of ,
the premi~ec.
- 12. That no waher uf am w~enant here~n ur ~~f the ~~Miga~~.m +riured hereh} tih~ll at any timr thereafter hr held I<~ hc a waiver of
the ~erms her~~f ~x of the rx~te .r~ur~J hrr~h~.
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