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<br /> I - P.o:sa::er aa� l.cndrs ra�cn�ni �ad :�rc:a. !c+!lcii:�: m.�r� t�aa fift�rn �i�l�fa�. ��i,�i�ra�.tu:utirr ihr cura c�p�n��
<br /> iu�ol�rd in han�llinc dclinyu�nt ��a�mrn�..
<br /> 1. That Oorra��er ��ill pa� chc �ndehtrdne.�, ,�. herrmi+clorc
<br /> ptotiided. P�i��ilece is ��sened io pa> ih�aebt in �chule ur in pan ?. That if the tutal��t th� �a}menu madr hy� thr liorro«rr
<br /> an an�� i�s�allmeni Auc date. undcr (hl af Paraeraph � prc:rding.haN e��ctiti1 the aiu��unl ul'
<br /> paymcnts actually made D�•the Lender t�u ground nm�, ta�rs and
<br /> ?. That,togetMer��•ith, and in addition to, the monthly a�.r.�mem. ur in.uranre premiums, as fic ca.e may be, tiuch c�-
<br /> pa��nents at'prin�ipal and intrre.t pa�•able undr•r the terms of'thc ress, ii the loan is current,at the option oi the Bortoaer, �hall be
<br /> note secured hereb��, the Borro�ver ���iU pay ro thc Lender,on thr �ieJited by the Lrnder oi�subsequent pa>•ments to be made by the
<br /> first day of each month until ihe said note is fuU>�paid, the Borrrn�•er, or refunded to the Rorroa�er. lf, ho��e�cr, the munthly
<br /> following sums: payments made by the Borro��•er under(b)aP paragraph 2
<br /> (a) Amount sufGcient to pro�ide the holder he�eof�vith funds preceding shall not be suf'ficient ta pay ground rents, tares and
<br /> to gay the next mongage insuran�premium iP this instrument and asseysments or insuranrc premiums, as the ca�e aiay hc, ��•hen the
<br /> the note secured hereby are insureci, ur a monthly charge(in lieu `ame shall be�ome due and payable, then the Borrrn�er chaU pay
<br /> of a mortga,ne insuranee premium) if they are held by the ta the Lender any amount necessary to make up the deficiency, on
<br /> Secretary of Housing and Urban De�•elopment, as follo��•s: or beiore the date��•hen payment of' such ground rents, taxes,
<br /> assessments, nr insurance pr�miums sha4 be due. If at any time
<br /> (I) lP and so long as said note of e�en date and thi� instru- the Barro��er shall tendrr to 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 serured hercby, fuU pa�•ment of the entire
<br /> tional Housing Act,an amount suf'Gcient to accumulate in the indebtednes. represented thereby, the Lender shall, in computing
<br /> hands of the holder one (1)month prior tu its due date the annual the amount of such indebtedness, credit to the account of the Bor-
<br /> morcgage insurance premium in order ta provide such holder ��ith ro��•er all pa>�ments made under the procisions of(a)of paragraph
<br /> funds to pay such premium to the Secretar�• of Housing and U�- Z hereof��•hich the Lender has not become obligated to pay to the
<br /> ban De�•elopment pursuant to the National Housing A.t, as Secretary of Housing and Urban De�•elopment and any balance re-
<br /> amended, and applicable Regulations thereunder; o� maining in the 1'und� accumulated under the provision+ oP(bl of
<br /> (11) lf and so long as said note af e�en date and this instru- Paragraph ? hereof'. If thrre .hall be a defauli under any of'the
<br /> ment are hrld b}• the Secretar�• of Housing and Urban De�•elop- Pro�•isions of thiy in�t�ument re�u!ting in a public sale of the
<br /> ment,a monthly charge�in lieu of a mortgage incuran��r premiwn) Premises co��ered hereby, nr it'the Lender acquires thc proEsert}•
<br /> �ti�hich shall be in an amount equal to one-t+�elfth (1i12) of one- �'�her��•ise after default, the Lender shall appl>•, at the time of the
<br /> half(1/2)per centum of the a��erage outstanding balance due on �ommencement of such p�oceedings, or at the time the propert>• is
<br /> the note computed ��•ithout taking imo acrount delinquencies or other�►�isr acquired, the balance ihen remaining in the funds ac-
<br /> prepayments• rumulated under (b)of paragraph 2 preceding, as a credit against
<br /> � the amount of priacipal then remaining unpaid under said notr,
<br /> (b) A sum equal to the ground �ent�. if any, next due, plus the and chall properly adiust any pa>•ment�w�hich shall ha�•e been
<br /> premiums that «ill next become due and payable on Ex�licies af made under (al of paragraph 2.
<br /> fire and other hazard insurance co�•ering the propem•, plus taxec
<br /> and assessme�ts next due on the DroDerty iall as esrimared b+� rhe 3. That the Rnr�rn�r� ..��� �3y o=o•�n��eR:�. l�;:,s•°°°;,.,.,,t;, �- --
<br /> Lender) less a11 sums already paid therefor divided by the number uatcr rates, and �ther go�ernmental or muni.ipai rharges, fiaes.
<br /> of months to elapse before one (1)month prior to the date��hen or impositions, for ��hich pro�ision has not been made
<br /> such ground rents, premiums, taxes and assessments �.ill become hereinbefore, and in default thereof the Lender ma}• pa�• the �ame;
<br /> delinquent, such surns to be held by Lender in trust to pay said and that thc Borro��er a•ill promptly deli�er ihr of�rial receipts
<br /> grou�td rents, preiuiums, taKes and speciai as�r��ment,;.and thercfor to the Lender. .
<br /> (c) All pay�ments mentioned in the t��•o preceding subsectionc of c. The Bo�ro«•er ��ill pay all taxes ahirh ma}• be le�ied u on
<br /> this paragraph and ali payments to be made under the notc P -"
<br /> secured hereby shall be added together, and the aggregate amoun� ihe Lender's interest in tiaid real estate and impro�ements, and `
<br /> thereof shall be paid bp the Borrow•er each month in a single pa�•- "hich ma} be le��ied upon this instrument or the debt serured :�
<br /> ment to be applied by the Lender to the follo��•ing items in the hereb>� (but only to the extent that such is not prohibited b}• la�ti `
<br /> order set forth: and only to the cxtent that such will not make this loan usuriou�l, �
<br /> but exduding any incume taa, State or Federal, imposed on :
<br /> (I) premium charges under the contract of insurance w•ith Lrnder, and �vill file the official reeeipt +hoa•ing�uch payment ' �
<br /> the Secretary of Housing and Urban Development, or monthly �rith [he Lender. Upon�•iolation of this undertaking,or i1 the ��.
<br /> charge(in lieu of mongage insuranre premium), as the rase map Borrower is prohibited by an>• law• no���or hereafter exi.ting from
<br /> be� paying the wholr ar any portian of the aforesaid tares, or upon .
<br /> (li)ground rents, taxec, assessments, �re and other hazard the rendering of any rourt decree prohibiting the payment by the ,
<br /> insurance premiums; Borro��•er of any such taKCS,or if such law or decree pro�ides that
<br /> any amount so paid by the Borrower shall be credited on the debt,
<br /> lll!) interest on the note secured herehy�: the Lender shall ha��e �he right to gi�e ninet�• days' ��ritten notice
<br /> (IV) amortization of the principal of aa�d note: and to the oaner of the premises, requiring the payment of the debt.
<br /> lf Such notice be given, the said debt shall become due, payable
<br /> (V) late charges. and collectible at the expiration of said ninety da�•s.
<br /> Any defciency in the amount of'such aggregate monthly pa>- F. That +hould the Borrouer fail to pay any sum or keep any
<br /> ment shall, unless made good b>• the Borrot��er prior to the due ���•enant proti•ided for in this instrvmer.t, then the I_ruder, at it�
<br /> date of�he next wch paymene, constitute an e�ent of default
<br /> under this mortgage. The Lender may collect a "late:harge" not option, ma�• pay or perform the same. and all erpenditures ,u
<br /> to exceed four cents(4¢) for each dollar(SI) of each payment
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