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<br /> Ror�ower and t.eadrr cu�enunt And A���y u+iuUo�+.: mrrc than fil't�riz �ISI d;t>� m.�rrrarti t�� �,i�rr Il�r rw.i r�pcn.r
<br /> im��l�e�l in h:+ndLnp aeluu�urnt ��a>mrnt..
<br /> � 1. That Bc�rro��er «ill pay Nte indehircin«�, a� hercmh�for�
<br /> pro��ided. Pricilegc is rcsened �o ��ay thr d�Y�t in ��hole ur in pan ?. That it'the total��i thr pa>mrnts mad� by the Barru���rr
<br /> on an}� installment dt�e date. under (hl of�ar�era�+h ? precedinn s4:a!! exc�,�thc amauat oc
<br /> payments artually made by the Lrnde� Por Fraund rents, tares and
<br /> 2. That, together ��ith, and in addition to, the monthl� assessments or insurance premiums, as the rase may be,such ex-
<br /> payments of principal and lnterest pa�•ablr under the terms of thc re��, if the loan is current, at the uption of the Borro��•er, shaU be
<br /> note secured hereby, the Borrower �cill pay to thr Lender, on ihe rredited by the Lender on subsequent paymenis to be made by the
<br /> first day� of each month until the said nate i� full�• paid, the Borro�ver. or refunded to the Borrower. If, ho�re��er, the manthly
<br /> POIION•ing sums: payments made by the Borruu•er under(b)of paragraph 2
<br /> (a) Amount �uf�cient to pro�•ide the holder hercaf«�ith funds Preceding chall not he�uP�rient to pay g�ound �ents, ta�es and
<br /> to pay the next mortgage insuranre premium if this instrument and assessments or insurance premiumc, as the case may be,��•hen the
<br /> the�ate secured hereby are insured, ar a monthly charge fira 6eu same shall become due and payable, then the Borro�ti•er shall pay
<br /> of a mortgage insuran��e premium)if they are held by the �o the Lender any amount necessary to make up the deficiency. on
<br /> Se.retary of Housing and Urban De�•elopment, as follous: o= refore the date �chen payment of such ground rents, tares,
<br /> assessments, pr insurance premiums shall be due. lf at anc time
<br /> (I) ]f and so long as said nate oP e��en date and this instru- ihe Borroµ•er shaU tender io the Lender, in accordance «�ith the
<br /> ment are insured or are reinsured under the pro�•isions of'the Na- pro�•isions of'the note secured hereby. full paymeat of' the entire
<br /> tional Housing Ace,an amount suf�cient to nccumulate in the indebtedness represented thereby, the Lender shap, in romputing
<br /> hands of the holder one(1)month priar tu its due date the annual the amount of sueh indebtedness, rredit to the account of the Bor-
<br /> mongage insurance premium in order to provicle such holder «ith roaer all payments made under the pro�isions of(a)of paragraph
<br /> funds to pay such premium to the Secretary of Housing and Ur- : hereol'�chich the Lender has not become obligated to pay to the
<br /> ba�i Development pursuant tu the National Housing A�t, as Secretary of Housing and Urban Development and any balance re-
<br /> amended, and applicable Regulations ihereunder; or maining in the funds accumulated under the procisions of(bl of
<br /> (ll) If and so long as said note of e�en date and thi� instru- Paragraph 2 hercof. lf there shall be a dcfault under any uf the
<br /> ment are held by the�ecretary of Housing and Urban De��elop- Pro�isions of this instrument resulting in a public sale of the
<br /> ment, a monthly charge�in lieu of a morrgage insuran��c�+remium) Premises cocered hereb�, ui if tl�r Lender acquires the propeny�
<br /> whieh shall be in an amount equal to one-tv.�lfth (1-"1?)of one- ��her�cise after detault, the Lender shall apply, at the time of the
<br /> half(1/2)per centum of the a�•erage outstanding balanre due on �ommenrement of such praeedings, or at the time the property is
<br /> the note computed n�ithout taking into accrnmt delinyurnacs ur ��theraise arquired, the balance then remaining in the funds ac-
<br /> prepayments; cumulated under(�)of paragraph 2 precedins, as a credit against
<br /> the amount of principal then �emaining unpaid under said note.
<br /> (b) A sum eyual to the ground rents, if any, next due, plu� ;he and shall properl>• adjust any payments �.hich shall hace been
<br /> premiums that will next become due and payahle on policies of made under (a) of paragraph 2.
<br /> fire and other hazard insurance co�ering the property, plus taKes
<br /> and assessments next due on the property(all as esrimated b�• the 4. That the I3nrrow•er .�i�� nay gr�s.;�r�R:�. ;;�:, w,K;;T��y�;, —
<br /> i.rncirri tess aii sums alTeady paid therefor dieided hy the number nater ratcs, and other go�•ermnrntal ur municipal rharges, tines, '
<br /> of months to elapse Nef'ore onc(1) month prior to the date «�hen or impositions, for «�hich provisian ha� not been made
<br /> such ground rents, premiums. taKes and assessments �cill become hereinbefore, and in default thereof the l.ender may pay the same;
<br /> delinquent, such sums to be held by Lender in trust to pay said and that the Borrm��er��ill promptly deli��er the official receipts '
<br /> ground rents, prrmiums,taxes and special assessments; and therefor to the Lcnder. '
<br /> (c) All payments mentioned in the t«•o preceding subsections of �
<br /> this paragraph and all payments to be made under the nate �• The Borroaer a�iU pap all tares w•hich ma>� be levied upon
<br /> secured hereby shall be added together, and the aggregate amoum thc Lender's interest in said real euate and impro�ement�, and ' �
<br /> thereof'shall be paid by the Borro��•er each month in a single pay- `��h'�h may be le�ied upon thiti instrument or the debt secured 5'
<br /> ment to be applied by the Lender to the follo���ing items in the hereb>•(but only tu thc e�tent that such is not prohibited by la��
<br /> order set forth: and only to the extent that such �cill not make this loan usuriou,),
<br /> but e�cluding any inrome tax, State or Federal, imposcd on
<br /> Q) premium charges under the contract of insurance«•ith Lender, and �cill file the official receipt shoe•ing such payment
<br /> the Sccretary of Housing and Urban Decclopment, or monthly a�ith the Lender. Upon �•iolation of this undertaking, or if the
<br /> charge(in lieu of mongage insurance premiom), as the casc may Borroaer is prohibited by any law now• or hereafter exi�ting from '
<br /> be' paying the whole or any portion of the aforesaid taxes, or upon :`-t�
<br /> (11)gound rents, taties, assessments, fire and other harard �he rendering of any court decree prohibiting the payment by the
<br /> insurance premiums; Borrow•er of any such taxes, or if such law or derree procides that
<br /> any amount so paid bp the Borrower shall be credited on thc debt, -�
<br /> (111) interest on the note�ecured hereby�; the Lender shall ha�•e the right to gi�•e ninety da>•5' �sritten notice
<br /> (iV) amortization of the prinripal of.aid note; and to the o«�ner of'the premi�cs, requiring the payment of the debt.
<br /> If such notice be gi�•en, the said debt shall becomr duc, payablc
<br /> (V) late charges, and �ollectible at the rxpiration of said ninety days.
<br /> Any deficiency in the amount of such aggregate monthlp pa�-
<br /> ment shall, unless made good by the Borro�ver prior to the due 6. That shoutd thc Borro�cer fail to pay am ,um ur keep any
<br /> date of the next sueh pa�men�, constitute an e��ene uf defaul� ���'enant procided for in thi� instrumer.t. then the Lender,at iis
<br /> under this mongage. The Lender may collect a "late charge" not �P�ivn, rnay pay or perform the same, and all eKpenditurr+ .�,
<br /> to exceed four cents (4�) for each dollar (51) of each payment
<br /> i'age 2 of,5 , • � HUO•92145DT
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