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:'1 h.d. ~n utJc~ mare (uU~ lu piu1rc11ih ;r:uihy uf ~hi. murig.yit. Ihc m~.~1~.~}ur. h~r~Ari w hh.:~nJ m.~JJiu~m 1~~. IAe ms~ulhh pa~ mcn1.
u~wlc~ th~ ~cim. u( U~c nu~e u.u~cJ hcuh~. iin iAe hs.~ d~y ul ~a~ h mumh ~mul ~Ac i::ed m~ir i. lull~ p.uJ M ~II ~u ~hr n?uri~.~Krr ~h.• (~~11.~M ~
io}: ~um.:
1.~1 An amuun~ w~Ticicnl Iu pru~~Je ~Me M?klrr hertu( wilh tunJ~ 1~~ ~+:y ~he nt~t mu~~~;.y;c ~mu~anrc p~rm~um ~t ~hi. imuumrn~ an.l ~hr
n.ar u. uicJ hereb> arc ~nwrrd. a muolhly ch»rKe lin lieu of u m~x~~:~Rt m.ur.~nce prrmuim? i( ~hr~ :~~r hrhl h> ~h. 1r~ ~ei.~n .~1
H~x~.ing anJ UrAan Ik~rlupmem a~ fnll~~w~:
IU 11 anJ lun~; a..aid nac uf evco Ja~e anJ ih~. in.~rumen~ ~rc in.urcd ui •rrr rrin.urrJ u~x)rr ~hc pia~ ~~a~o. ul ~M h.~uun.d
l1~Ni~in} Ar1.:m am~~uM ~ulfiritnl lu acrumulale ~n Iht hanJ. ol ~hc hulJcr uor 111 munlh pnar iu i1. Juc J.~Ir IAr .~nnu.J n~~.i i =
~c~gc imur:mrt premium. in ~uJe~ li~ pn~~iJe ~u~h h~~IJer wilA fttnJ. t~, pa~ .urh prem~um t~. ~Ik lrrrri.~~~ ul Il.w~.u~~ .~n~l .
Urban Ikvek~pmeM ~+ut.u:mllii the Na1Km:d N~x~.in~: Arl. +.:~mendrJ. :~rd apph.•ahk Itc4ulcdiun. ~M•rrw.Jri . u~
1111 If anJ ~a N?n~ ~:+~J n~Ne o! evcn dale und IAi. in.lrumen~ :ue held M 1he lrcrctary uf H~K~.~oF an.l l~~R~n Ik•~.lapm.•n~
mumAl~ rh.u~e Un litu u( a mu?1K:~}e in.ur:mre prrm~uml Nhi~h ~h.dl h. m an amaunl ryu:J ~u unr-~wrlt~h ~ t~ 1'~ u! onr h.~U
I lf'1 per ren~um uf the a~erngc uul.umJine h:danra Jue un Ihr nu~r cnmpuleJ wilh~x~1 1a?~ng inlu :rcr~a~n~ Jrhoyurnur.
~+rrp:q mcnh:
~h1 A wm eyu:J I~? thc g~uunJ icn~., it :m~. ne~~ Juc. plu, IF?c ptemium~ ~A:d Nill nev htrum~ duc .~oJ p:~~ahk un ~wd~.ir, lirr .uid
olhei h:varJ inwr.~nrc cuverin~ ~Ae mu~t~;.~,:~~ r~„~.n> . ~io. ~a~t~ anJ a.~ec.ment~ ne~l d~a un thr m~~r1~;.~K..t ~~~~h ~n ~.~n .•.u~
ma1rJ hy Ihe mon~taxrel k~~ :Jl .um~ ulready ~+:uJ thcrtl~~~ JiviJed h~ Iht numher uf munlM t~~ rlap~n c~(.ar unr mun~h pnu~ ~u thr
d.uc w hen ~u.h ~;ruuoJ renl~, prem~um.. t:ue~. unJ :~..e,.m~nt. Mdl her~~me delinyuent..ucA .um. w hc hrlJ h~ munF.~~.c ~n uu.i
lu pa~ ..uJ Eruurxl rrnt,. prem~um~. tare., nnJ ~peci:J :~..r..men1.: anJ
Ir1 AU p.~~ mcn1. menduncJ in tht ~NO prcreJink wh~tcliun. u( Ibi~ pai:~gr.~ph :~nd all paymrnh ~a he m.~de unJcr Ihr nulr .r: wrJ Aric-
h~ ,hcdl t~c .hlJeJ lugelhct anJ Ihe a~rrK:de amuunllherrul ,hall t?c paiJ hy thc man~:a~ur c:~: h munlh m:~ .~n~;k p:~> mrn~ h. .~r.
p1icJ hy ~hr murt~:4;te tu ~Ae tolk?w~n~e icem~ in Ihe urJer .el turlb:
111 _ prrmium ch:ugc+ unJer tht romracl ut imur:~nrt wilh ~Ix tictirt~ary uf Huu+inK anJ U~han Ik~•clupmcnl. ia m~~nlhh rA.ugr
lin lieu of mung:yte inwrance premiuml. a~ Ihe ca~e may tx:
1111 gruunJ ren~~. ~a~es. a~ses~men~a, fire. anJ o~hr~ ha~ard mwr.~ncc premium~:
llll intcre~l on Ihe nWe ~erured hereby: anJ
IIVI amurlitaln?n ot the principal cf wid note.
Any Jeti~kncy in Ihe amM~nt af +uch aggregale m~~n~h1Y ~reYmem .hall. unk~. made g~xx1 by ~hc murt~;agix prior ~u It~e Jur Ja~r ul ~hr nr~~
w.h p:~yment. con.tilule an evenl i~f de(ault un~ler Ihi~ murl~e. The morlp.•rFce ma~ ci~lkcl a"l:~~e ch:u~;e'~~,~x w ~~~•.yd M~u~ ~.y~i. l 1cl I~a
rarh Jollar ISII uf cach paymrnl mure Ihan fiUcen 1 I SI J:+y+ in arrcar. ~a ravtr ~he e~tra r~prn+e io..~heJ in h:mdGn~; Jclinyucn~ p.~~ mrnt~
i. "fhat i( Ihe Iwat of ~he payment~ mrde hy Ihe mur~g:+g~~r unJer If+) ~+ar.~Fraph 2 prcreJing .h:dl r~~rrJ ~In :~mia~m uf ~hr paymrnt.
:k~u.~lly madr hy the murly,.+gee. for grounJ renh. la~e~ +nel a~.t+.me~h :~nJ imurance prtmium.. a, ~he ca.e m:ry' I+c. ~uth r~c~~~ i( thr lo.m i.
~un~n~, at the option of the mortgaqor, shall, be credited oo Kubsequcnt paymcats to be madc by thc rooriRaRor, or rr.(uoded ~u ~h~•
morlRaRor. If, however, th~ moathly payments madc by the morlRaRor unJer (e) of paraRraph 2 pr~cedinR Yhall n~~~ b~• su((i~icnt 1~~
p.~~ Krouad rent~, ta~cs and asscssments anJ in.urance premiwus, ati th~ casc ~na~ be, ..hcn thr .atm~ ~hall br~-omc Ju~~ ~ad pay-
~bl~, ~h~n thc mor~KaRor s6a11 pay to thc mort~ea~ee aay amount ncce..aty to makc up the d~fici~ncy, on or b~•(ur~ ~h~• da~.• ..hro
paym~•n1 0l +uch RrounJ renis, taxes, a.ses~m: nt., or in~uren~~e prcmiuro~ ~hall bc du~. If at au~ tim~~ thc mor~Ka~;or xhal) 1~•ndr~
to the mortRaRee in accordanr~ Nith ihe pro~~i~ionc of ~h~ no~e srcured h~r~by, lul) paymenl o( ~hr ~•ntire ind~btedn~~~ r~pr~ti~n~-
ed Ih~reby, the mortgag~~ shall, in camputinR the amount o( ~uch ioJ~htednec~, cr~dil ~o ~h~ a~•~~ount o( the morlFaRnr all p:+)n?~nt.
made unJcr ihr provicionti ot o( para~traph 2 heu•of which the mortga~ec has no1 become obliqat~d lo pay to th~ ~•~~t~tary ol
IlousinR and l~rban Ucvclopment and aay halan~•o r~mainio~ in the fund<. accumul,~t~~d uoder the provi.ioa~ of (b) o( .:iid
paraRraph 2. I( there ~hall be a default uml~r any of thc pto~i~ionc o( Ihiti mortRag~, resul~inF in a~.ublic tialc of Ih~ pr~mi.~•ti
covcrcd hereby, or if thc mortgaReP acquiro. the property o~hcrNise af~cr dcfaul~, thr mortRaR~•~• shall apply, ~h~ th~ tim~ of thP
: omm~ncemeot ~uch proceedinRs or e~ the ~ime the property is olhon~ise acquir~d, th~ balan~~ thrn remaining in ~he (un~1ti
accumulated under (6) of paraRraph 2 ptereding as a credil aRainst Ihe amount o~ prin~ ipal th~•n r~maining unpaid unJrr s~id noto
and shall properly adjual aoy payments whi~h shall ha.•~ Lec•n made uadcr of said paraRraph.
4. "lhat he will pa~ cJl t:~~r.. :~..e..mem.. Naier r:~le.. :~nd ~~Iher ~.~vernmenlal ur munKip:~l cA:uge~. tine.. or imM~.iuon.. (ur whi~h pr~~-
si.io~ti h.~. m,1 hrro m:~Jc hrrrinF+r(arr. :mJ in Jrf:u~ll Ihcr~~~t Ihc rt2urt};aE.r ma~ p.~~ Ihc .amr::mJ th:u hc w:u ~r.~~» .klnci Iha u0i~~.d
~rrc~pt. ~hrrcfor t~, tlx mur~E:~~re
S. Th:d hr will ~?crmi~_ rummit. ur.ullcr o~~ wa.~c. imp:~irmcnl_ or Jeterioratii~n o! viJ propertyor aoy p:~r~ ~Ixrcut: :mJ ~n tFk r~rnl u( ~he
f.~ilurc ot 1~?c mor~gaE~.r to keep-the builJing. an .:~id prcmi.t.:md Ihu.e u~ tx crc~ICJ un viiJ premi~e~. or impru~am~nh Ihrrc~~o. m g.rKl rr.
i p:~ir. ~he mon~::~get maq m:de ~urh rtC:iin a~ in it~ di,rreliun m:n .feem nerc..:~r~ far Iht pruptr pre~enati.ai ~herr~~f ..mJ thr hdl .~mo~m~ ui
` rarh :mJ e~ery ,uch pa~ men~ .hall ix immcdi:+ttly Jur aoJ p:~~ abk. :~nd .h:dl ht ~crured hy IMe iitn a! Ihi. monFage.
~ 6. Th:u he wil~ p:~y~ all and .ingular Ihe cu~tc. charge,. :mJ ea(~enuc. including reac~,nahk lawytr'. fee~. :mJ cu.1. u( ah,Irac~. a( hde. m-
! curred or p:uJ :~t :m~ time hy the morlp,agee txcau.e Ihe tuilure im itrc pari u( the mortg:~Fo~ ~~om~iiy and (uih lo ~xrtorm tM :~L~ecmrni.
= and coven:mt. u~iJ prumi.~or~ nu~e nnJ thi. mur1E:~~te.:ind ,aid ~u.l~. chargr~. :md t~~+ence..hall he immrd~al.l~ Jue .~nJ p.~~ahl~ a~J .hall
~ he +ecureJ h~ Ihe lirn uf ~hi, mor~g:iEe.
:
€ '"~h:~t he M iil lecp ihr impr.ncmenl. nuw t~istinp ur here:J~c~ ererteJ nn ~he mur~g.~~eJ pm{+erh imurrd ma~ ha rryuurd (rum Ume
F tu ume hy ~he m~~nEo~:e~ :~F:~in.~ I~?„ hy fire :mJ otF?er h:vatJ~. ~a,u:d~ie.. :md romin~.rnrie. in .urh amuum, :mJ (u~ .u.h pcn~xl. m.~~ t+~
~ rcyuircd hy mort~;aFee. anJ will pay pu~mptly. when Jue. an~ prem~um. un .uch inwr:~nce tor p:rymen~ ut w h~rh pra. ~.~on h.~. no~ ixrn m.~Jr
~ hrrc~nl+e(ore All in.ur.mre ~hall be ~arrieJ m rumpanrc~ appmveJ hy mori~::~~ee and Ihc ~x~l~rie. ;~nd an~w.ih ~hcrra( .hall hc ha 1~1 h~ m~~rt~.~-
s ~.rc :~nJ h:~~e :~uachcd ihcreto It~., payaF+k rlau.e. in (a~or of anJ in form :n~epl:ihk ~a tht mongaFce. In e~em o( lo.. he w~ll c~~r ~mmcJi.Ar
~ ~.~~~re by m:~il ti~ murtF:~~,re_ anJ mnrlgaget may m:~l,e prM~f of lo.. if n~?1 made pmmptly hy mortg:~gor. .mJ c:~ch mwr.~n.r cump:~n~ cun-
~ crrneJ hercby~autlx~ri~cd :md J~recleJ to m.~Ae paymcn~ fur .uch i~,.s dirccUy to mortF:~~ee in~leaJ af 1u murtEa~.~r anJ mur~Ee~rr ~~~imh .
~ :md Ihc in.?u:~nre pnxred~. i?r :my pan ~here~,(. may he applieJ by muttgagte al it~ i~puun eilher to Iht reJurl~un a( Ihr ~ndth~rdnc.. hereh~
~ .erurcd or lo Ihe recturalion c?t repair ~~t 1he pn~~+erty JamageJ. In t~cm i~f furcrN~.urc 1hi. morl~tage ur ~ahcr ~r.~n.(er ~~f ~iik lu the m~~r~-
~ FaFeJ properly in etilingui.hmeni ot ~ht indehteJne« ~ecureJ btrehy. .dl riFhl. dtle. anJ imere~t u( ~he murtE:~Ear in ,mJ tu an~ ~n~ut.~nre M~Ir
~ cie+ then io furce ~hall pac~ to ~he purcha+er ~ir gran~ee.
~ K. lhat if Ihc rcmicec. ur an
~ P Y P~rl Ihereof. he cundemneJ unJtr any ~x~Ner uf eminent Jomam. or eiyuired (or puhli. u.r_ Ihr J.~m.~Er..
~ pnxeeJ~. anJ ~Me comiderati~~n for ~uch :Kqui.iii~m.1~~ the extenl oi ~he full :~m~~un1.~( inJehleJne.. u~~n Ih~. MurtEa~;t. anJ Ihr Nute .t:urrJ
~ hrrehy rem:iininF unpaid. are htrehy a.~iFneJ by Ihe MorlFaFor ti~ thc MorlFagte and ~h:dl Fx p:~iJ furlhwiih ta ~hc !~1~,n~;:i~ec ta ht:~pphcd h~
~ h.~n :Kr~wm of the i~xleblene.• cecureJ hrreby. whether due ar not.
~ gaFee may. :d any time penJing a cuit upon ~hie m~~rtg.age_ apply ~a t1x c~wn havin~; ~uri.Jicuun iherto( (or the ap(+o~nl-
~ y. "That the mort
~ mem of a receiver. and .uch court shall tanhwith ap~x?im a receiver of ihe premi~t, covereJ heaby :~II :~nd +ingul:ir. inrluJing :dl .~nJ .in~ul.~r
~ ~he incom~_ prufits. i«uec_ and revenues hom whatever uwrce derived. each :md every wbich. il Fxing e~pre..ly unJer.t~~.xl_ i. herrM
~ murtgaged ac if ~~+ecifically x~ fonh arx! deccrihed in lhe gr:~nling anJ habenJum clau.es hereo(. and wch rrreiver +h:dl b:ne all ~M bru:~d .~nd
etfeclive (unclions and ~+owerc in aoywise entruaeJ by a c~wn to a rcctiver. and ~uch appoinlmenl ~ball ~+e m:~de hy .unc ~~~~n :n :m aJm~ned
= equily and a ma~~er of abcolu~e ri~;M to ~id mongagee. anJ wilh~w~ rcference ~o ~he aJequacy cx in:nlequ:K y o( tlie v:duc uf ~he prupeny murt-
'y g.~geJ ur t~? ~he .olvenry ur in.~~lvenry at .aiJ murtF:?gor ~tt the Jefend:~nl.. and Iha~ .urh renl.. prufit.. ina?mc. i..ur.. anJ rr~cmk. .h:Jl he
applied by wch rectir•er according to 1he lieo oi thi~ morlgaFe aod ihe praclice uf wcb c~wn. In Ihe event af :iny Je(aul~ ~~n ~he part ~~f ~he m~~rt-
g,:~gor hereurnfer. the morlp,:+gor agrees to pay Io tl~e mortga~te on demanJ :~s a rea~onahk monthly ren~al f~~r thc premi.t~ an amuunl :H ka.l
cquivalcnl t~~ one-Iwelf~h 11113) of the a~regate of ~he ~welve monthly in~lallmenlc payabk in the tAtn currem yr.u plu. ~hc :~rtual :~muunt ut
~ ~hc annual laxec. asse~sments. water ra~es, and in.uraoce premiumc far wch year no1 covereJ hy 1he alare+aid momhl~• ~+aymenl~.
10. That (al in the event of any Areach of thic morlgage or default on Ihe pan o( tlx mort~ag~x. or 1 b) in the evem ~h;~l :m~ ut .:~iJ .um~ ~.f
~ monty herein rcterreJ Io tx nol promplly and (ully paid witlwut demand or ne?tice. or Icl in IMt evenl Iha~ each and every Ihe +Ii~xd:~ti.~n..
' :~grcement~. conJilions. and covenantc of ~aiJ nole and thic mortpage. are not July. promplly. :mJ fully perli~rmed: then in eiiher ur :~n~ .u.h
~
evenl. tix wiJ a~regale sum mentioned in tiaiJ note ~hen remaining unpaid. wi~h imerest :KCrueJ to Iha1 time. :~nd all muney..ecureJ herth~ .
~ chall become due and payabk torlhwilh_ w Ihertafler. at Iht option ot saiJ mortgaget. as (ully and cumpklely ac if :dl ut Ibe .:~W .um. ~~f m.u~-
~ ey were originally slipulaled ~01x p:+id on wch day. :~ny~hing in syid nde or in thi~ mortp,age ~u the conlrary rxxwilh~rrnding: anJ IherruM~n ~.r
~hereaf~er. a11F~e option o( wid mortp,agce. withoul noti:e or JemanJ. wit at law~ or in equily_ may t+e pro~ecu~ed a. it .d! money~.tcuteJ hert-
~ by had maturcd prior Io i~s insliwlion. The morigagee may toreclose thi~ mortg:~ge. a. to tht am~wnt w declareJ Jue anJ payahk. anJ ihe .:~iJ
~ premisec st~all be soW ~o ~ati.fy and pay Ilx came IogdAer with coc~s. expense~. anJ allowancec. In cace of panial fi~rerb~ure of tbis m~?r1~.:~ge_
~ Ilte mortaaged premises shall tx wld whjecl lo the canlinuing lien uf Ihis qorlg:~~te ti~r Ihe amiwnt of the deht niN lhen Jue anJ on{+aiJ. In .uch
ca~e Iht provisions of Ihiti paragraph may again tx avaikJ o1111etcafler from Iime 1o Iime hy Ihe morl~te.
~ ~ E~nOK (..~1 PA~E ~O~
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