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<br /> � Borrower anA LeaArr carenarl and�grre u follow3: more than fifteen(IS)da,ys in arrears to co�•er[Ne extra expense
<br /> in�oitied in liandting detinquent pay�nents.
<br /> � 1. 7'hat Bo�row•er w•ill pay[he indebtedness,as hcreinbefore
<br /> provided. Privilege is resen•ed to pay the�ebt in��•haFe�r in psrt 3. That if[h�tata!of the�paytt►encs mad�by the Banower
<br /> t �n any instailment due date. under(b)of paragraph 2 preseding shall e�cceed the amount oi
<br /> payments actualty made by the Lend�r for ground renu,t�es and
<br /> 2. That,together aith,and in additic+n ta.thz m�nch!y assessments ar insurance premiums.as the pse may be,such ex-
<br /> paymrnts ot pren�7pa1 and interest paya6te un��er[h:.terms of the cess. if the[oan is current,at the option of the Borrower. shall be
<br /> note sc�ured hereby,Ihe Bortotvzr:vill pay to th�Lea��,oc�the credited by ihe Lender on subsequent payments tu 6e made by the
<br /> � first day of each month unril the said not�is Cs'�����:�,.�_ �orrower.or refurtded to the Borrower. lf, however,che monthly
<br /> foltowing sums: paynic�u made by the Barrower under(b)of paragr.a�h 2
<br /> — (a)Amount sufficient ta provide the fia:��:r hereof�:°��-ss�s Preoeding shall not be sufftcient co pay ground rett:�..t�xes and
<br /> tn pay the next mar[gage insurance premiuri if this ia�y;.,^�:::L and assessmtnts or insurarice premiums,as[he case may be,Khen tFe
<br /> the note secured hereby are insured,or a cront�Iy cha�_::-r,�ier same shalt beccime due and paya'ble. tFen the Borrawer shall pa�
<br /> - or�mortgage insurance premi:�m)if they`.Te hetd by che to the Lender any amount necessary r6 ecake up the deticieney,�.�
<br /> Secrctary of Housing ar_d Urbzn Ikcet���.ast,as fallotivs: or before the date when payznent af s��ground rents, [axes,
<br /> .essessments.or insurance premiums s�.�be due.lf at any tim:
<br /> (1) if and so lortg�sa�n�te oa e��en date and fh:�inscru- zhe Borrower sl�all te�der ca the i.��-.:in accardance with the
<br /> ment aze insured or are re�;ured un�e!-:he provisior_-�,;che:�a- provisions of the note secured hereEF�..�t'�payment of the ec�:i:e .
<br /> tional Housing Act, an arrihunt.svSfici�nt to accumu'.�+:e an.h: indebtedness represented thereby, dt��der shall,i�computi�
<br /> hattds of the holder one(1)mar:th prior to its due da=::h:anr,�;:t!:� the amount of such indebtedneu.cra;::to the account of the Bar.-
<br /> � mortgage insuranse premium in order,�pt�vide such holder wit4: :rower all payments made undtr the provisions of(a)af p�ragraph
<br /> Cunds to pay sueh premium to the Ser�.�c�; of Hoasing and Ur- '� 2 hereoP which the Lender has not become abligated to pay to the
<br /> ` ban Development pursuant to the Nationai Housing Act, as �ecretary of Housing and Urban Qevelopment and any balance re-
<br /> amended,and applicable Regulations thereunder;or inaining in the funds accumulated u=,�.:r the provisions of(b)of
<br /> (iq IP and so lang as said note of e�•en date and[his instru- �ragraph 2 hereof. if there sha!a t�a defautt under any oC the
<br /> � ment are held by[he Secretary of Ho[cwipg and Urban Develop- � :?rovisions of this instntc,.xt resu'.:sr�in a public s��1e of the
<br /> � rrtent,a monthl�•charge(in lieu of a m�ar.gage insurance premiu^; ��mi.ges covereQ h;re�::.�:y7:�i�.�i.:,::der acyuires.iJ.;c Er:aperty
<br /> which shall be in an amQUnc equal to aa,n}•elfch(t/12)ol'one- °°d7�se after dePaul:,t��r:°L�c�r-i"=.'+app(y,at iJs,:;Cme of'the
<br /> half(1/2)per centum of the avtrage ouitta,-�ding balactce due on �ammencement of such pr�ceed•,ngs, �::s the time che property is �
<br /> the note computed witho�t taking iato account delinquencies or o[herwise acquired.the balanee then:��::aining in the funds ac-
<br /> prepayments; � cumulateA u»der(b)of paragraph 2 preceding,as a credit against
<br /> - zhe amount of principal then remaining unpaid unQer said nute.
<br /> (b) A sum equ31 to the�roand rents. if any, next due, plus th�, and shall properly adjust aay payments which ahall havc been
<br /> premiuflts thai wili next become due and payable on policies of' rtmade under(a)of parag�aph 2. •
<br /> fire and other hazard insurance cavering Ihe property, plus taxes
<br /> and assessments next due on the property(all as estimated by rhe 4. That thc Borrower will pay grounc!rents,tatcs. assessmene5. -
<br /> Lender) less all sums already paid thercfor divided by the number �vater rates, and other gover^�:ntal or municipai charges, Gnes,
<br /> - � of months to elapse 6efore one(1)month prior to the datc�vhen ar impositions, far�vh:ch ;-,�1:,ision has not bcen made -
<br /> such graund rents.premiums, taxes and as��ssments will become h;ceinbePore.and in def'�.::.::;!:�rc�f Ihe Lrnder may pay the same: _
<br /> delinquent. s�ch sums to be held by l..en:�:c�n trust to pay said ar.�th3t thc Borrou•er �::;gro:-:�_,y ,ie::ver the official receipts '
<br /> ground ren[s, premiums. taxes and specia?a.4sessments; and �hercfor ca�'n:Lender. • �-
<br /> (c) All payments mentioned in the tu•o preceding subsections of
<br /> ' , this paragra�*_and all payments to be m�di�under the note 5. Thc �:�r�•her�airi ia�;, c?! taxes��•hich may bc'evied upon ;
<br /> secured here�.�shall be added tagether.ar�the ag�regate amount �`��L.ender'� :�.r:rest i:� :;�.�d:r:al c�state and impro�a�Jr:r:ts,and �
<br /> thereot shalE be paid by the Borraticer each month in a single pay- `�"hich may 'r.� �:e•ied wr.s- r.?:is instrument or the :.c'=r�secured
<br /> mer.t to be applied by the Lender io the foltowinG it:m;�:n the hereby(b�.:c ,;:_:v to the�s,tem that such is not prah'.�;,ed by law !
<br /> order set forth: and only�: �n:rxtent ::-.�t such will r��i. nalce this Ivan usurious),. •
<br /> b!u exclec��cr.;�.�zy in,;�r-s,.:z.�►,5tate or l=:deral,imposed on • :
<br /> (I) premium charges under the cor.r-a:t of ir.s::��.:ce��ith :.ender,a.� wiU �l:tls:a:i•i";ial receipt showing su�ar r,aymrnt '�`
<br /> the Secretary of Housing and Urban De�eic�„•::�ent,or monthly �%�:'�thc L�der. Uper. �..',�:t�tion of this undertakir:}s:_�_r ii the
<br /> charge(in Jicu of mortgagc insurauce premiurnl, as the wue may :�;•rr�wcr i: �r�hibiteQ i�; s�y law now or hereafter:�isting frdr,; � '
<br /> �'=� ;.aying t;:e e,+r�_:.or aay portion uf the afotesaid taxes,or upon •�:
<br /> �!!)E�aund rents, taxe�,assessments,fire and other harard the rendcri�:� c:;any cecrt decree prahibiting the payment by thc �•
<br /> ` insurance��:ns�:;ms; 3orrower ef a:�y such r:Le�:r�,or if such law ar decrec provides thut '
<br /> a�y artzount sn paid Ay rh�: �iorrower chall bc crcdited on the debt, `
<br /> (111) ir.;sr:st un the nate secured hcrcby: the I.cnder�ha[t hatic�h�:ri,,ht to givc ninety days'tisrittcn nuti�e
<br /> (1� amortizatian of[he principal o�said au�e; c+nd t� the c+wner ��I tl:c�nen;:.ec,reyuiring Ihe paymc►u of the dehc.
<br /> If'such notic•� I:r gncn, tl�e tiaid deb� shall bea�mc:luc,payablc
<br /> (V) late ch�rges. , and collectible at the e+:pir.::ion af said.ninety days.
<br /> — An>•deficiency in thc auu�unt of �uch aEgre�ate nwnthly pay
<br /> ` ment shall, untess made gwd�by the Borr�ncer prior to the duc �'� ����� sl►uu1J �he 13urro:<er fail to pciy any sum�r kcep aay
<br /> � date oP the next such pa>•men�.canc�itute an event nf default cuvrnant provided for in this inctn�ment, ihen the Lender,at i�s
<br /> ander this mortgage. The l.ender m:�y cnl2ect a"tate charge"not �p�ion, may pay or perform the same. and all exprnditures�c�
<br /> ro exceed four rent9(4Q) for each doll�r 151► oi eacfi payment
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