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Thal. in ardrr murr hdlg to pn?tert the aerurily of this mang:+ge. the murlga4ur. tuFether with. anJ in :nlJiti+xr a?. the m++nth l•.q•m? nt.
on?kr the terms of the n+de .n•urrd hrrcM•. un the fist Jay u( catch month until the sail node i. fully p:+iJ. wdl pay to the nrurtg:?grc~tt.c Iul1.,w=• - -
ing sums .
sal An :annum sufhs irnt to pu?s irk the haWer htrrot xith tutkls w pay the nest murlgage imur,tnsr premium it this imuun+rnt :uul tl?e
ntde urured hereby are inwtcJ. tx a monthly cRdge tin hru a(a mung:yte inwranre premium) i( they .ur hsW h} flee ~rstrt:us ++t
Ntntaing anJ (lrb:+n tk•velupmcnt as follows:
111 I( and an lung .aid n+de of even Jade an.l Ihia imuumem :uc imurrd or :uc rcinaurrJ urwirr rhr pros t+iuns ut tt?t !~:,u.•n.d
H+wsing Act. an .,mount auITK ient to accumukdr m the h:mds of the huller one 111 month pt an to it. Jur J:dr tln• annu d nuut
gage inwranre premium. in txder to prnsgk ouch M?IJcr with fun.). to pay wch premium to tha• trsrrt:uy a( Ilwt.n?t~ .n?.l~t~
llrt+an Ikaelapmrnt ptuauant to the Natiun.+l Hatsing Art. as amendcJ. anJ apptirabk Regulati.nis thtrcutrdrr. ar
1111 It :+nJ w k?ng as .aid note of even J:dr anJ this inauumrnt :uc hell M the Snrelary of Huusu:g an,1 l'rh:ut I)r?cl.,pmt~ + i
m~nthly:h:uKe tin Tito ut a murtg.tter insmancr prcmwml which ah:+Il f+c in an amount rvu.+I tr unc t+.ttlth t 1 ! `t +d ..u+ 6.:11 '
11121 per renWm ut the average uutsl.mdtng b.,i.:cce Jut un the note sumputrJ with+att t..l n} nu, a. s uuut Jthnyut+~. .
prep:+yments:
Ihl A wm equal to Iht ground rents, it any, recce due. plus the premium. Ih:d wll neat become Jur . ~J p..~.,Lt, .n, p„liucs ,,f hn• .~rr,t
other hararD in.ur:mre covering the marlgagcJ pruprrt~ .plea toots anJ asussmcnla neat dot un U.c muugagc+l pruprrN tall rsn ~
m:dcd by the mortg.+geet kas .dl sums :+IrtaJ} p.uJ therefor JivideJ by the member of month. a?rlapsr t+rlnrr uric month prior t+, rhr t
d:de when wch gt~unJ rent.. premiuma. Ia'Lta. ar?J asuasmrma will t+csomr delinquent. rush sums to hr held by mur7gagrr in force +
ru pay vud gtountl rent.. premiuma. lases. anJ.•pe. ial aascssmenta::mJ
Icl A11 p;,ymenls mrntiuritsl in the Iwn preceJiryt w'•acrtium ut this paraEr.+ph and all p:ymtnt+ 1u F+r madr unJtr rhr nuts arcurrd hrrr
by • h II Ix aJJcd together-1ya the aggreatate amount therett shall ht pail by rltc murtg:+gur rash month in a stngk pay mrm to t?r ap-
plits) 6y rhr murtg.,grc to the fi?Th+witig item. in the order ut forth: t
111 pt? ~niuw + harFrs urxkr the contract of imurmre with the Secretary ut Housing anJ Urban Iksclapmrm. ur monthly charge
tin lira+d .....rt~•aFe imuranrt premium). as the eau may rte:
111) ' graunJ rem• . t.+• r+. aaaeaamenls. Ere, anJ usher haiarJ imurance premium.:
1111 interest ~?n the n+.tr atrureJ hereby: anJ
IIY? amurtiialion at the principal ut sail owe.
:1ny Jefirirm-y in the amount at ouch :.ggregate monthly payment ,hall. unkaa male gax?J by the murtg:tgcu prior a? the Jut J:ae of the prat
rush p.tyment. sunstiuuc :m cscm of tktauh utttkr this mortgage. The mortgagee may collect a "late charge"out w ea+ e+vl (our cti+t: (Icl tt,r
r:,rh Jullat 1111 ut each p:ty mint murr th:+n fifteen 1 ISI Jaya in arrears to rover the t'.trt espcnu imuh•rJ in hanJiing Jrlinyuent p.y men)..
z 'I had it the fatal ut tttr paymenh male by the murtgagrr ursJer 1 h) of pagraph ' preceding shall tacerD rhr amount of the p:+ymrnts
nstually made by Ihr mortgagee, hu grtwnJ rents. taus anJ :issesamrnts anJ inwranre premiuma, as rhr eau may hr. wch tart.. it the loan is
, urrcnl, at the option nt the mortgagor, shall, be credited on subsegacot payments to be made by the mortgagor, or retuoded to the
mortgagor. 11. ho.vrvrr. the monthly payments madr by the mortgagor under (e) of paragraph 2 preceding shall not be sutticient to
pay ground rents. taxes and assc~smcnts and insurance prcmiuuu, as the case may be, xhea the same shall become due and p:+y-
ablr. then the mortgagor shall pay to the mortgagee any amount n~ce..ary to make up the deficiency, on or'betoro rhr date x•hen
paynr~•n1 of :;ash Around rents, ta><e.. assessments. or inwranre premium. shall br dur. )t at ans time the mortgagor shall tender
to the monKaKee in accordance with the provisions of the note srrured hrrebv. full payment o! the entire indcbtedn,•ss n•prrsrnt-
ed thrrrbv, the mortgagee shall, in computing the amount of such inJrhtednca. rrrdit to rhr account of the mort~aRor all pa.nrrnt~
made under the prnvi~ions of of paragraph 2 hereof xhich the mortgaRre h.+s not become obligated to pay to the kc rrtary of
. Iluus~ihR and l roan 1)rvclopmeat and say balance remaining in the tund~ aceumalatrd under the provision. of (e) of xaid
par-forap``h_~~~•• If thrrr shall be a default under any of the prom.ions of this mortFagP, resulting in a public .ale of the prrmi.rs
' •tr~eo" .xe8.11F~by, or it the morlRaRee acquires the property othrrx ice after default. the mortgaRrr shall apply. the the time of the
t~fMlil~nr:atit~r~olz~aeS?proceedinRs or at the time the property is othrn.ise acquired, the halaorr then remaining in the tuod~
ac~:iMAif4Y.lfii!? (b) of paragraph 2 preceding as a credit aRainsl the amount nt principal then remaining unpaid un~lrr said nuts
s.*.-~°~ el~tnl,>;p~p~ adjust any p:+vments xhich shall have Bern made under (a) of said paragraph.
pay all taus. assrs.mtnts. water r.+les. and other goaernmental or municipal sh:ugrs. tiros. ur tmpusiu.n?.. fur w hich pru-
a t nt~ ~t~+ ulr hrrrinF+rlurt. anJ in Jrtault Iherrot !hc murtg.rgrr m.+y pay rhr same: and that hr .+rli pr,.mpth Jrlistr the utliiial
j ~~rtipl~tnt`~tcit?t fl?~ murtgager
S. "Il?:d he rill permit. summit. or .utter nn waste. impairmcm. +?r Jrtcrioratian of .aid pis?prny ur any part thrrrul:.mJ in the rs rise of rhr
I:,ilurc of the mortgagor to keep the huilJings un .ail premius anJ those to F+t rrrctrJ an s:+iJ premises. ur improaemrnts thrrcun. i?? g.xul rr-
pair. the mortgagee may make gush repair.:+, in na Jiscrrtiun it may term neccssan fur the pn,prr pre.rn:diun thtreuL anJ the full amount of
rash :md ra cry .ash p:+ymr m ,hall hr immr+hatrh due an.l pay ahlr. anJ .hall ht arcurrJ h} the lien ut thi. mar tgagr.
h 'I hat he rill pay all :mJ singuk+r the cots. charges. and raprnse.. including rr:+sanahk lawyer's fees. anJ imt. ul abstracts of title. in-
curred ur pail :d :+m time M the mortgagee because of the Lulurr un the p:ut u(the murtgactu pn,mptly anJ tulh a, prrfurm the agrcrmrnts
i
and snsrnanls of .aid pn,mia.ury M,te anJ thin murtg:+gt.:md s.+id iaata. charges. and eaptnses .hall he immediately Joe and payahlcanJ shall
ht .ecu?eJ h} rhr )iris at this mortgage.
t
I fh:d he rill kc:p tlx imprmrmrnts nox esiwng ur hrrealtrr rrrctrD+,n rhr murtgagrJ property mswrd man tss rsyuucd from runt
F to ume M' rhr mortgagor against Inss h} fire anJ other h:vards'. s:r.u.rltirs. anJ sunlrngrncirs in cosh amuunt~ end tar .ash prn„+Is .,s mad f~•
reyuirrd by murtgager.:mJ rill pay pn,mpth . xhrn Jut..u?s premium. un .ash insuransr for p:,y mrm of which pros tsrun has nut horn m.uh•
hrrcinhrtore 411 irruransr shall F,c earned in cumpanirs appn,ard M murtgagrr and rhr pu6cits :utd rencx.Js thrrrul shall hr held by mnrl~a- t
gee and hoar :dtached thereto lu+. payahk clauses in laanr of and in form accrptahlr a? rhr mc,rtgaeer In carol Iuss hr x ill gnr inimtJi.at
noose by mail to mongagee. anJ mortgagee may make pnwf al loo if nut made prompth by mortgagur.:md each inwranre cump.+m am-
( crrntJ is hereby':+uthuri~eJ anJ JirecleJ to make payment fur .ash h,ss Jiresth to mungagec insteaD ut to mortgagor and morlgaget iointh .
.,nJ the tnsurancc pnurrJs. nr am p:+rt Ihereul. may ht applia•ct by mnrtg:,gce ar it. option tither to the reducUun of the inJrhlrJnrs. hereby
stsurcJ or U? the rester:diun nr repair at the property J:+maga•d In scent of h?rcclu.ure of this murtgagr ur alhrr 1rrnalcr of title t+, rhr murt-
gageD pu?pt?ty in extinguishment of Ihr inJehleJness seiured hrrrM. all right. title. anJ intrrrat of the murtg.+gur m .mJ a, any inwr.rnir pob-
~ lies then in force sh:?II past to the purrhasrr nr grantee.
ti. That it the premius. or any part thrreot. tx cunJtmnrJ unJrr any power ul enuncnt Domain. or acyuircJ for a public use. rhr J.,mair•
pn,ceeD..:mJ the consideration fur wch :+:yuisitiun. Io the event +d the toll ::mount of inJchtrJness upon this ~tortgagr. anD rhr \ntt stsurrd
hrrrM remaining unpaiJ-art htreh} aaigntJ by the Mortgagor to the \turtgagct :rod .hall t?e paid lurthwith to rhr \lurtg:+grr to hr applied ha
it on account of the inJebteness secured hereby. whNher Jut or nut. -
4 That the morlgaget ma}. at any Nme pending a suit ulx,n this mortgage. apph h, the court h:ning jurisJictian thrrruf fur th? appurnt-
merit of a receiver. anJ wch s+xttt shall forthwith appoint a receiver nt the premises a?aereJ hereh} all anJ singular. rnsludtng :dl ,uu1 srngular
the income. prufila. iswes. anJ revenues tram whatever source JeriseJ. cash anJ entry of which. it Ming eaprrssl} unJrrsh,+,d. is hrrehy
morlgaget as it specifically set forth anJ JescritxJ in the granting anJ hat?enJum cl:wsca hcrcut.:+rx1 sash receiver shad) h:n r all the broad anJ
etlective furutiuna .+nJ powers in anywise enlrusteD by a c+wrt to a receiver. anJ wch appuimmrm .hall I?r malt h} wch i+aut :+s ..n aJnunrd
equity anJ a matter of ahw?lute right to sail mortg:+gee. anJ witMwt reference to the aJequacy or inaJryu:+cy ut the aalue of the proprrry mart-
- gage) nr to the solvency or imulvtnsy of .ail mortgagor ur the Jefendanh. anJ that wch rents, profits. income. i..urs .utJ rrarnuts shall hs
applieJ by such receiver according u? the lien ut this mortgage anJ the practice at wch c+,ttrl. In the event ut an}Default on the p:+rt of IF?t man- _
g~+g+?r hereunder. the mortgagor agrees to pay to the morlgaget un JrmanJ as a rca.unabk monthly rental fur the premises an .+mount at k.+st
equivalent to one-twelfth 111131 of Iht aggregate of the twelve monthly installments payahk in the then current }car plus rhr acw:d amount of
the :+nnual eases. asscssmcnts. wader rates. and inwranct premiums for wch year not cuvereJ by the atoresaiJ month)} payments.
10 That sal in the event of any txeach of this mortgage or default on the part of the murtg:+gur. or 1 h1 in the event that am of sail sum: ut
money herein referreJ to t+e ntd promptly anJ fully pail w•itM?ut Dem:mJ or m?tice. or Ire in the event that rich anJ eaery rhr stipulaunns
:+grecments. conditions. anJ covenants of sail note anJ this mortgage. are not July. promptly. anJ fully ptrh,rmeD: then in rrthrr ur am su:h
eaent. the saiD aggregate cum mcntioneD in sail mote then remaining unpaid. with interest :+ccrutJ to that time. anJ all moot}..ecurrJ hereby .
shall become Jue and payahk forthwith. or thereafter. at the option of said mortgagee. as fully anJ rompkrel} as it all of rhr sail sum. of man-
. ty were originally stipulated to t?e paid on wch Jay. anything in sail note ur in This mortgage w the contrary mdwithstanding: anJ thereupon ur
thereafter. at the optitx? of sail morlgaget. without notice or JemanJ. wit at law or in equhy. may hrpruatcuteJ a. if all moneys ucureJ here-
by hat matured prior to its institution. The mortgagee may furecbu this mortgage. as to the amtwm W? JetaareJ Jue anJ payabk. anJ the sail
premises shall tic roll to satisfyrnJ pay the same together with curls. expenua.:mD allowarxes. In rase of partial toreck?wrt of this mungage-
the mortgagtd,premius shall tx solD subject to the continuing lien of this mortgage fur the amount of the Jebt ttt?1 Then Jue and +~npaW-in wch
case the provisions qt this paragraph rr• - again tx avaikJ of thereafter Crum time to time by the- ~urtgq[te. AMC'
r
294 ~z 615
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