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<br /> rSwra�ser anA Lender c���e�tun� and a��ce As Pollo�+.: mom ihan fii'trrn t1�)da>:. in arrrar. ta ru�•cr thr r�tru r�pcn.e
<br /> � imol�ed in hnn�!lin�• �teliiti1��c�tt p:���ste:it..
<br /> — !. Thac I3o��ia�":, ��iii pa�• the indebtrAness. as hereinhefa�r
<br /> prpvided. Pri�•ilege is resenrd to pa�• the debi in �eholr or in part �. Tliat il'ihc w;al ul' the pa>•mrni. �nade hy �hc 13��rra��rr
<br /> an Any installment due date. undrr(b)at'parag�aph 2 prercdin� .hzU r�rced th� :jnu�unl ot'
<br />� 2. That, tugether�vith, and in addition ta, thc monthiy �'''����t����`�`��'ally made by �he Lende� 1'ur ground rent., ta�r. and
<br /> assessments or insu�an.r premium.,as the rase may� he, surh e�-
<br /> payments of principal and interest pa�•able under U�r trrms of the �ess, iP the t��an is current, at ihe ap�ion ol'the Borro��•er, �hall hr
<br /> note secured hercb�•, the Borru�nr ��ill pay �o the Lrnder, ��n the rredited by thc Lend�r on .�,n.e�u�n� ra�•mrnt+ to br inadr b�• �hr
<br /> �rst day of each month uritil ihe said note is fuUy paid, the Qorro�cr�, ur rel'und�d to ihe Borro�cer. U', ho��•evrr, �hr m..n�hl�•
<br /> foltowing sums: pa�•ments madr by the Bvrr���rer under (b) af paragraph 2 �
<br /> (a) Amount suft'i;ient to proeide the holder hereof��ith funds ��«'�ding shall not t+o suf�cient ta pa�� timund rents, �axc�and
<br /> to pay the ne�� murtgage insurance prrmium if'Ihis instruntent and �""`111ents or imuranrc premiums. ac �he�ase may be. �vhen thc
<br /> � the nore sccured hereby are insured,or a monthly rharge(rn lieu ����i�shall becumr due and p�pable, thcn the llarraarr .hall pay
<br /> af a.morrea„re insuran.�r prernlun�) iP they are hetd bp the ��>>>r Lender any amuunt neressary to make up the del'icienry, an
<br /> Serretary of Housing and Urhan De��elopment, as follo��•s: ur before ihr da�e ��hen pa�•ment at'such ground �ents, ia�es,
<br /> assr..ments, iir iiisuranre premiumc shall br due. If a� an�• tinte
<br /> (1) IP and ao long as said nute oi e�•�n date and this instru- the Horro���cr rhaU tendcr tu�he le�ider, in arru�danrc ��ith thc
<br /> ment are insured or arc reinsured under �hc pro�•isions aP the Na- pro�icirnis of the note secured hrreby, full pa�mrnt of�hr rnt'rc
<br /> tional Housing Act. an amount sufticient ro accumulate in thc indebtednesc reprc.cnted therebp, the Lender �haU, im m�iputing
<br /> hands of the holder one (1) month prior to its due date the annual the amoun� of such indebtednes.�, rredi� to the accaunt of�he Bur-
<br /> mortgage insurance premium in urder to pravide such holder �vith m�rer all paymem� madc under thc prm•isionc of(�)p( �arag�apli
<br /> funds to pa��such premiuin to d�e Serretary oP Housing and Ur• ' hereof��•hirh the Lcnder has �iot bctiome obligated to pay to �hr
<br /> ban Development pursuant to the National Housing Act, as Secretary of Nou�ine and iJrban Oe�•elorment �nd am• balanrr re-
<br /> amended, and applicable Regula�ions thercunde�; or maining in the funds accumulated under the rro�•icions of�h)ol' �
<br /> (1!) lf and so long as said note uf r��en date and this instru- 1'aragraph 2 hereof. It there shall hr a drfciuU under an�• ut'thr
<br /> ment are held by the 5rrreta�y of Housin� and t�rban Ue�elop- rr°"'��'n� of thi. inctrument resul�ing in a publir sa(r uf thr
<br /> tnent, a nioud�i�-rharge�in lieu ��!'a n�orreare insuran.•c��remiuml p�`����'�'�u��ered hereby, ur if thr 1_endrr arquirr� thr r��,i,�,�,y�
<br /> �►hich shall be in an amount eyual co one-t��elfth (1i12) af une- �,thcn�i�r af�cr detault. �h� Lrnder shall ap�l>•, at the timr ul'thr
<br /> ; half(1/2) per centum of the a�•erage out�tanding balanrr due on iO011��`���e11�C°i �'� `uch pro.eedinc�, ur at Ihr timr the prop�rtr i. � �
<br /> the note computed ���itho�t �aking into a.cou�v delinquencies ur "����r"�'e acquired, the bal.�nre thrn remaining in the Itu�J. ar- � •
<br /> prepayments: cumulated under (b) of paraeraph _' preceding. as a credit a�ain>t
<br /> (b) A sum equal to the gtound ren�s, iP an._ n�•.r �� ����?�nvimt of prin:ipal then remaining unpaid under ,aiJ qote, : - -
<br /> .l.�e, �le:s thc a:�u .,�a�i p�ui,rri� aajus� am� pa��ment� which chall ha�e hrcn �_=.=-
<br /> - premiums that w•i!I next become due and pa�able uu policies of madr under (a)of paragraph _'. � ��
<br /> fire and other hazard insurance co�•erinc the property. plus taxes
<br /> and assessments next due on the property(a11 as esNmated by thr J. That Ihe Borroaer �riU pay ground rent,, ta�e,, as�essmentc, t l
<br /> Lender)less all sums already paid thetefor di��ided by the �tiu►ubrr �aatr� rate�. and other gocernmental or municipal rharge�, fines,
<br /> oP months to elapse beforc one (1) month priur ro the date ahen or impositians, for �rhich pro�•isian has not been made
<br /> such ground rents,premiums. taxes and assessments tirill become hereinbefore, and in default thereof the Lender may pay the same;
<br /> ddinquent, such sums to be held b�• Lender in trust to pa}• said and that the Borroaer�cill prompdy deli�er thc offi�ial re�cipts
<br /> ground rents.premiums, taxes and special assessments;and thereior io the Lcnde�. �=�
<br /> (c) All pay�ments mentioned in the c��•o preceding subsections of
<br /> , this paragraDh and all payments to be made usdsr the note S. The Borro��er ��•ill pa�• all taxes �vhirh may be lecied upun
<br /> , �ecured hereby shap be added together, and the agg�egate amount the Lender's interest in said real estate and impro�•ements, and
<br /> thereof shall be paid by the Borroa•er each month �n a single pay- ""hirh may be le�•ied upon this instrument or the debt secured
<br /> ment to be applied by the Lender to the fopo��•ing items in �he hereb�• (but only ro the extent that such is not prohibited b}• la��•
<br /> order set forth: and only to the extent that such w•ill not make this loan usurious). '
<br /> but e�cluding an�� income ta�, S�ate or Federal, imposed on
<br /> (1) premium charges under the contract of insurance with Lender. and will Pile the offirial receipt shoa•ing surh pa�•ment
<br /> ihe Secrctary of Housing and Urban De��elopment, or monthly ���ith the Lender. Upon �•iolation of�his undertaking, or if the
<br /> charge(in lieu of mor�gage insurance premium), as the case may Borrou•er is pmhibi[rd by any laa• now or hereafter exisiing from �
<br /> �' paying the ��•hole or an- '..�.`
<br /> > portion of the aforesaid ta�es, or upon
<br /> � (iI)�round rtnts, taxes, assessments, fire and othe� hatard the rendering of any court decree prohibiting the payment by the �
<br /> insuranee premiums; Botrou•er of any such taxes, or if such lativ or decree pro�•ides that �
<br /> any amount so paid by the Borrower shaU be credited on the debt,
<br /> (Ill) intercst ott the note secured.hereby; the Lender shall ha�e the ri ht to
<br /> • S gi�•e ninety days' ��ritten notice
<br /> (l� amonization of the principal of said note; and to the o�vner of thc premises, requiring the payment af the debt.
<br /> If such notice be gi�•en, the said debt shall become due, payabtc
<br /> (� late charges, and cotlectible at the expiration oF said ninety days.
<br /> Any deficiency in the amount of such aggregate monthly pay-
<br /> ment shall,unless made.good by the BOrrower prior to the due 6. That should the Borrowe� fail to pay ank sum or keep any
<br /> date of the next such payment, constitute an event of defaule covenant provided for in this instrument,�hen the Lender, at its
<br /> under this mortgage. The Lender may collect a "late charge" not option, may pay or perform the same. and al!expenditures so
<br /> to exceed iour.cents(4d)�for each doqlk�(S!)of eacH payment
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