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Tha~, in wdet mare tully to p~otect the security of th~s munga~e. ihe mu?I~or, t~e~Ae~ with. ~nJ in alJitiun to: tfic monthly pay ments unde~ the ~e~ms o( the nwc secureJ heroby, on ~he first day ot each monih uotil the said note ia tully paid. will pay lo the murtga~ee ihe (ulluw- in~ sums: (a) Ao amount wiTicir~t to provide the haldsr hereot wi~h fwxts ~u My the next mu~~~e inwrance premium if thi~ instrumcnt anJ the note secured hercby ue inwred, ur a munthly ctwt~t tin lieu ut a murtga~e inwrance ptimiuml it lhey ate held by the Sccrctary u( HousinY and Urbsn Devebpmen~ u(olbws: (1) It and w lons as saiJ note ot even Aate rrn1 this inslrument are insured or ar~e reinwrcd under the p~ovisions oi the Netiunal Housins Act, an amount wfl'icien~ to accumulate in the hanJs ot Ilx holde~ one 111 munth priiu to its due Jate ~he annuxl murt- ~e inwrance premium, in order to provide such holder with funds to pay such prcmium to the Sttiretary ot Housing anJ Urban Devebpmeot putsuanl to the Nalional Housin~ Acl, as amenJed. and applicabk Re~ulYtion~ lhereunAer. or (14 If and so lon~ as saiJ note o[ even date anJ Ihis irtstrument are held by the Secrctary o( Housin~ anJ Urban [kvelopment, a monthly chuge (in deu ot a mat~e inwrance premium) whKh shall be in an amount eQual w une-~wdhh 11112) of une-h:Jf (1/2) per centum o( the avera~e outstanJin~ tx~lance due on the note computeJ witlxw~ taking into accouot delinquencics or prepayments; (b) A wm equal to tRe ~round rents, if any, next due, plus the premiums thai will next l+ecome due and payabk on policies of fire anJ olher hazud inwnnce coverins the mortgagal propeny, plus uxss arn1 usessmen~s next due on the murt~at pr~perty lall as esti- mated by ~Ae morty~ee) kss all sums already paid therefor divided by the number ot months to elapu betore one month prior to the date when wch ~round rents, premiums, taxes, and asxssments wiU become delinquent. wch wms tu be hcld by murtgagee in trust to pay said groum! rents, premiums, laxts, and specia) assessments: and (c) All payments mentioned in the two pteceding wbxctions of this par3araph and all payments to be maJe urnier the nae secured here- by shall !+e added togethtr and the aggregate amount tbeteof shall be paid by the mortgagor each month in a single payment to be ap- plicd by the mortgagee to the tolbwin~ items in the order set (orth: IU promium char~es under the contract of inwrance with the Secretuy ot Housing and Urban Developmen~, or monthly charge (in fieu ot mortgage insurance premium?, u the case may be: qD grou~d rents, taxes, asscssments, firc. and other huud inwnnce premiums; (ll! interest on the note secured hercby: and (IV) amonization ot the pri~ipal ot said note. - Any de6ciency in the amount of such aggregate monthly payment shail, unkss made good by the mortgago~ prior to the due date of the next wch payment, constitute an event ot detauh under this mortgage. The mongagee may collect a"late charge" eot to exceed two cents (2c) tor each dollar (SI ) ot each payment morc than 6ttee~ (1~ days in arrears to cover tlx eztra expense invdved in handling delinquem payments. 3. That i( the tdal ot the payments made by the mongagor under (b) ot puagraph 2 preceding shalt excetd tNe amount ot the payments actually made by the mongagee, tor ground rrnts, taxes and assessments and inwrance premiums, as the cau may be, such cacess at the op- tia~ ot the morigagee. shall. be credited on subsequcnt payments to be made by the mortgagor. or refunded to the mortgaga. It. however, the monthfy payments made by the mongagor unde~ (b) ot puagraph 2 preceding shall oot be sufficient to pay gTound rents, taxes and asussments and insurance premiums, as the case may Ix. when the same shall becume due and payabk, then the mortgagor shall pay to the mortgagee any amoum nccessary to make up the deficiency. on or before the date when payment ot such gound reots, taxes, assessments, or inwrance prem- iums shall be due. I( at any time the mongagar shall tender to the mongagee in accordance with ihe provisions of the note secured hereby, tull payment ot the entire indebtedness represented thereby, the mongagee shall, in computing the amount ot such indebtedness, credit to the ac- awnt of the mongagor all payments made under ~he pruvisions of (a) ot paragraph 2 hereot which the mortgagee has not become obligated to pay to the Secrctary of Housing and Urban Development and any balance remaining in the tunds accumulated under the provivons of (b) of said paragtaph 2. It there shall t+e a detault under any of the provisions of this mortgage, resulting in a puMic sak of the premises co~•ered here- by. ot if the mortgagte acquites t1x proptrty othcrwise atter detauh, the mortgdgee shall apply. at the time ot the commencement ot such pro- ceedings or at the time the property is otherwix acquired: the bala~we then rcmaining in the turds accumulated under ( b) oi paragraph 2 preced- i~ u a crcdit against the amount ot principal then remaining unpaid under said note and shall prope~ly adjust any paymeMS which shall have been made under (a) of said paragxaph. 4. That he will pay all taxes, assessments, water rates, and other governmental or municipal charges. fines, or imposi~ans, for which pro- ~ visiun has not been made hereinbcfore, and in defauh thereot the mortgagct may pay Ihe same: and that he will prompUy deliver ~he otTicial ! rcceipts therctor to the mortgagee. ~ S. That he wi{I permit, commit, or sutfer no waste. impairment, or deterioration of said property or any part thereof; and in thc event of the ~ failute of the mongagor to keep the buildings on said premises and those tu be erectcd on said premises, or improvements thereon. in gaxl re- ~ pair, the mortgagee may make wch repairs as in its discretion it may Jeem necessary for the proper preservation tfxreof, and the fuU amount of ~ each and every wch payment shall be immediately due and payabk. and shall be secured by tMe tien ot this mongage. ~ 6. 71wt hc wiU pay a!I and singulu the costs, chuges, and expenses, including reasonabk Iawyer's tees, and costs ot abstracts of titk, in- currcd or paid at any time by the mortgagee becwse of the tailurc on the part of the mongagor promptty and fuqy to pertorm the agretments 1 and covenants ot said promissory note and this mortgage. and said costs. charges, and e~pense~ shall be immediately due and payabk and shall i E be secured by ttx liea of this mongage. _ ' ~ 7_ That he will keep the improvements now existing or hereaiter erec~ed on the morigaged property. insured as may be rcquireJ from time ~ ~ to time by the mongagee against bss by fue and other hazards, casualties, and contingencics in wch amounts and for such periodx as may he ~ ; i F requircd by mortgagee, and will pay promptly, when due. any premiums on such insurance for payment of which provision has noi been made ~ hereintxfore. All insurance shall be curiod in companies approved by mortgagee and the policies and renew als thereof ~hall tx held by mortga- ~ gee and have attached thereto loss payabk clauses in tavor of and in form acceptat?k to the morigagee_ In event ot fosc he will give immediate ~ nwice by mail to mortgagte. and morigegee may make proot of loss ii not made promptly by mortgagor. and each insurance company con- ~ cerncd is hereby authorized and directod to malce payment tor such loss direcUy to mongagee instead of to mongagor and mortgagce jantly. and the inwrance proceeds. or any part thereof, may be applied by mortgagee at its uption either to the reduction of the indebtedness hereby secured or to the resloration or repair of the property damaged. In event of forecbsurc of this mort~age or other transter of titk to the mon- t g,aged property in eztinguishment of the indebtedness ucured hereby. all right. titk. and interest ot the mortgagor in and to any insurance poli- ~ cies then in force shall pus to the purchaser or grantea s 8. 71~at it the premixs, or any pari thereot. 6e condemned under any power ot eminent domain. or acquired for a public use. tfie damages. ~ proceeds. and the consideration for such xquisition. to the extent of the fuU amount of indebtedness upon this Mortgage. and tf~e Note secured hereby remaining unpaid. are hereby assigi~ed by the Mortgagor to the Mortp,agee and shall tx paid torthwith to the Murtgagec to be applied by it on account ot the indebteness securcd hereby. whether due or not. 9. 71~ai tF~e mortgagee may, at any time pending a wit upon this mortgage. apply to the court having jurisdiction thereof for Ihe appoint- ment of a rectiver. and wcb court shall forlhwith appoint a receiver of the premises covered hereby all and singular, including all and singular the income. profits, issues, and revenues from whatever source derivtd. each and every of which. it being expre~sly understood. is hereby morigaged as if specifically set forih and described in the granting and habendum clauses hereof. and such rcceiver shall have all the broed and eBective functions and powers in anywiu e~trusted by a court to a receiver. artd such appointment shalf be made by wch court ac an admitted equity and a matter ot absolute right to said mortgagee. and without reference to the adequacy or inadequacy of the value of the property mon- ~ gaged or to the wlvency or insolvency of said mortgagor or Ihe detenJants, and that wch rents. profits. income, icsues_ anJ revenues shall ne applied by such receiver xcording to the lien of this mongage and the practice o( such couR. In tht event of any default on the ~art o( the mort- ~ g:+gor hercunder, the mongagor agrees to pay to the mortgagee on demand as a rcasonabk monthly rcntal far the premises an amount at kast ~ equivaknt to one-twelfth (1112) o( the aggregate of the twelve monthly installmcnts payabk in the then curcent year plus 1he actual amount of " the annual taxes. asxssments, watet rates, and inwrance premiums for such year not covered by the aforesaid monthly payments. ~ 10_ That (a) in the event ot any brexh o(lhis mortgage or detault on the pan of the mongagor. or 16) in the event that any ot said wms of ~ money herein rcterrea to be not promptly and [ully paid without dcmand or nolice. or Ic1 in the event that cach and every the stipulations. ~ agreements, cimditions. and covenants of said nole and this morlgage. are no1 duly. promptly. and tully ptrformed: then in either or any wch ~ event. the said aggregate sum mentioned in said note then remaining unpaid. with interest accrued to that time. and all moneys secured hereby. shall become due and payabk tonhwith. or thcreafter, a1 the opt'an of said mort~agee. as (ully and completely as if all nf the said sums of mon- ~ ey were originally stipufated to be paid on wch day. anything in said note or in this mortgage to ~he contrary notwiths~anding: and ~ reupon or ~ tlxrea(ter, at the option of said mortgagee. wiihout notict or demand, suit a11aw or in equity. may be prosecuted as if all moneys secured here- • by had matured prior to its institution. The mortgagee may (orecbx this mongage. ac to Ihe amount so declared due a~u1 payabk. and Ihe said ~ premixs shall be sold to satis(y and pay the same together wilh costs. expenses. and albwances. In case of partial forecbwte ot this mongage. ~ the mortgaged promises shall tx wlai subject to the continuing lien of Ihis mortgage for the amount o( Ihe debt not then due and unpaid. (n such cax the provisions of thix paragraph may ~gtin t+e av~ikd of thereatter from time to time by the mortgagce. ~R oKz3z PAGE1718 ~ ~ ~s..- , . t . . _ - ? r"~~. ~ ` ;S _~2 - - - - - - - - - - `1 ~ .s~«G"+.~~~~ 'cr~`_~~.S.A ~ d 'L. ^~~-`~i~+ ~a i~~'~t. ^c" - ~ w'` - "3`-- 's - t..~w. . _:~~~'7~~~ . . n. ~