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<br /> s���A�coRO�n gp.�;�10 n 4 0� 89-- 10 2'�0 8
<br /> r Bnrr�we�wad lxnder co�c��nt ond aK�ee us toilows: marc thzn fiftccn (IS)day. in ;+rrcar� tn r���cr thr c�tr.ti c�prnsc
<br /> i incohed in handtin�;dcli��yuent pa��ntcnts.
<br /> l. That f�rroti�er will pay the ii►debtrdnrss, as heninbcforc
<br /> �+t��vid�ct privile�e ic reces�rd tt+pay Iho deM in whole eu in part i. That if Ihe tutal nl�hr��aymrntc m:�dr hy �he R�rrowe�
<br /> on any insta(Iment due date. under (b1�f paragraph 3 precrding shaU exceed the amoum of
<br /> pavments ar�uall} made b}� the Lende� f��r g�aund rents, ia�ec and
<br /> 2. That, together�vith. and in Addition to, the manthly assrssments ur insurunre premiums, as the cASe may be, such ex-
<br /> payments of'principai and interest pa>�able under the terms oP tiic �css, if thc Ioan is�urrrnt. at �hc uption oP thr Borra���cr, shall bc
<br /> note secured hereby, the Barrawer �vi11 pay ta the Lende�, on the �redited by thc Lendrr on �ubsequent pa>mcnis to br madc by �he
<br /> �rst day of each month until the said note ic t'ully paid, the 8orra���c�, ur refunded ta the Borruw•er. If, hu��e��er. thr monthly
<br /> following sums: payments madr ty the Borm��er uttder (b1 af paragraph 2
<br /> (a) Amount sufficient ta pravide the holder hereof u�ith Punds Preceding shall not be�uffirient ta pay �mund rents. taxes and
<br /> to pay the rtcxt mongage insurance premium if this instrument and assessmtnts pr insurance premiumc,us Ihe�ace may be, �chen ihe
<br /> ' the note secured hereby are in�ured, a� a monthl�• cha��e�in l;eu �ame shal! tx�.�ome due and payable, ihen the BarroN•e� shall pay
<br /> of a.mortgage insuran��e premium) iP they are held by the « �he l.ender any amount neressar�• to make up the deficiency, an
<br /> Secretary oP Housing and Urban Decelopment, as Pollo��s; pr befare the date��•hen payment af such ground rents, taxes,
<br /> assessmcnls, or insurance premiums�hall be duc. li'at any time
<br /> (1) lf and so long as said n�►te ot e�•en date and [his inscru- the Ho�ro��er shall tender to the Lender. in accardance with the
<br /> ment are insured or are reinsured under the pro�•isions of the Na- pro�isians oi'the note secured herehy. Pull payment of�he ent'rc
<br /> tional Housing Act,an amount sufPicient to accumulate i� the indrbtedness �epresented thereby, the Lender �hall, in romputing
<br /> . hands of the holder one (1)month prior to its due date the annual the amuunt af such indebtednecs, rredit to the account of the Bor-
<br /> mortgage insurance premium in order to provide such holdcr ��•ith �o��er all payments made under the pro�•isions uf(al af paragraph
<br /> funds to pay such premium ca the Serretary uf Huusing aiid U�- Z hereoP�vhich the Lender has not become obligaced to pay to the
<br /> ban Development pursuant to the IVationa{ Housing Act, as Secretary of Housing and Urban Development and any balancc re-
<br /> amended, and applicable Regulations thereunden or maining in thc funds ar.umulated wrder the prrni.irn�. of(h)��f
<br /> (11) if and so long as said nate of e��en date and this in,tru- P�ragraph 2 hcreot'. If thrre �hall he a drfault undrr an�� ul �hr
<br /> ment are heid by the Secretar�• of Housing and Urban Develop- Prrn�isions oP thi� instTUment resuhing in � publir>alr uf thr
<br /> ment, a monthl�• charge(in lie�� of a mortgage insuran�Y premiurn) Premises co�•ered hereby, or if the l.cnder acquir��c the proper�y
<br /> which shall be i� an amount equal to one-t��•elPth (1.'12)of one- �ther���ise after default, the Lcnder shaQ appl��, ai thr timr of thr
<br /> half(1/2)per centum of the average ontstanding baiancr due on ��mmenrement oP aich proreedines, or at the timr the propert�• is
<br /> otherw•ise acquired. the balance then remaining in the funds ac-
<br /> the note computed �ti•ithout taking into account delinyuencies or cumulated under(b)of patagraph ? prereding, a�a rredit against .
<br /> prepayments; the amount of principal then remaining unpaid undrr saiJ note,
<br /> (b) A sum equal to the ground rents. if any. next due, plus the and shall properly adjust any pa�mcnts ��hich �hall ha�e heen , :
<br /> premiums that will next become due and payable on policies of made under (al of paragraph 2.
<br /> f7re aad other hazard insurance covering the property, plus ta�es 3 �
<br /> t:.�
<br /> and assessments next due on the property(a/�as estimated by�rhe �t. I hat the Bortu�ver �ti�iii pay groun� rencs, ta�es, asxes�mems, __,-_
<br /> Lender) less all sums already paid therePor di�•id� by the number ��ater rates, and other gu�rrnmental or municipal rharce�, fines, _
<br /> of months to rlapse before one (1) month prior to the date ��hen or impositians, for �rhich provision has not bcrn made __
<br /> such ground rents. prcmiums, t�xcs and ass:ssments :ti•i!! h.corrte hereinbefore, and in def2olt thcreof�he I.ender may pay the �ame; . _�-:
<br /> delinquent,such sums to be held by Lender in trust to pay said and that the Borro��er ��•ill promptl�� deli�er thr official re�cipts `
<br /> ground rents. premiums, taxes and special assessments; and therefor to the Lender.
<br /> (c) AU payments mentioned in the t��•o preceding subsections of 5. The Borro�cer ��iD pa� all tases �chich may be lecied upon •�`
<br /> this paragraph and all payments to be made under the note the Lznder's interest in said real estate and impro�•emcnts. and
<br /> secured hereby shall be added together, and the aggregate amount «.hich may be le�•ied upon this instrument or the debt secured
<br /> thereof shall be paid by the Borro��•er each month in a single pay- hereb�• (but only to the extent tha[ such is not prohibited �y la«�
<br /> ment to be applied by the Lender to the following items in the and only to the extent that such ��ill r.ot make this loan usurious). �
<br /> � order set forth: hut excluding any income ta�, State or I�ederal, impo�rd on }�
<br /> (t) premium charges under the contract oP insurance a•ith Lender, and will file the official receipt sho«ing such payment s�
<br /> the Secretary of Housing and Urban Development, or monthly with the I.ender. tipon violation of this undertaking, or if the �
<br /> charge(in lieu of martgage insurance premium), as the case ma>• Borroµ�er is prohibited b�� an�� la.� now or hrreafter eristing f�oin
<br /> be; paying the whole or any portion of the aforesaid taxes, or upon —_
<br /> the rendering of any court decree prohibiting the payment by the '. �s'-
<br /> (ll)ground rents. taties, assessments. fire and other hazard ' '�: `
<br /> 8orro��•er of any such iaxes, or if such la�s or decree pro�ides that s.°
<br />: insurance premiums; anp amount so paid by the Borro��er shall be credited on the debt, ;
<br /> (ql) intetest on the note secured hereb�•; the Lender shall hace the right to gi�e ninet}•days' �critten notice •
<br /> to the oaner of the premises, requiring the payment of the debt.
<br /> (IV) amortization of the principal of said note; and if such notice be gi�en, the said debt shall become due, payable
<br /> !� late charges. and collectible at the expiration of said ninety day�s. .
<br /> My deficiency in the amount of such aggregate monthly pay- 6. That should the Borro�+er fail to pay an�_sum or keep any
<br /> ment shalt, unless made good by the Borrower prior to the due covenant pro.•ided for in thic imtrumem, �hen the i.ender, at its
<br /> date of the next such paynient, constitute an e�•ent of defauit option. may pay or perform the same, and alt cependitures so
<br /> under this mortgage. The Lender may collect a "late chazge" not
<br /> to exceed four cents (4�) for each doltar(S1)of each payment
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