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<br /> ' Botfowtr�ad Lender co�eeant artd Qgree as toUnRS: more than i'if[een�15)days in arcears tu cuscr th:errca exFense
<br /> r 1. That Borron•er wiil pay the indebtedness,as hereinbeiore �molced in handling delinquent pay-ments.
<br /> provided.Pri�ilege is reserved to pay the debt in a�hoJe or in part 3. That if the tatal of the payments mad,by ttn;8o:rower
<br /> on any installment due date. vnder(b)of paragraph 2 preoading shalt exceed tt�amounz o�
<br /> 2. 17�t,together with.and in addition to the manthl � Payments zctualty made by �he Leader for groun�rects,t�t�cs a�v�.
<br /> paymrnts of ' y assessmenrs or insurance premitims,as t(r;c3se rn�y be�susta�•
<br /> prir[cipal and interest payable under the terms of the ces5,if the toan is cuirer.:� as�itr:optian of th;�arraK•er,shaf4 bo
<br /> note sxured hereby, the Borrower wil�pay to the Leader,on the �vedited 6y the Lend:r•asn,xu�seq�ent payrn�►*.s c�n tk;made by the
<br /> • first ctay of e�ch month unti!the sai�ac+te is fulty paid, the Boaower. or refunded t6:;Fi`�asrnwer. Ii, hoxea•er,the monthly
<br /> � f��OW�g�' payments made by the Borrovrtr,un�;r (b)of paragraph 2
<br /> (a) Atnount sufficient to provide the t��;der hereoF���th funds Preceding shall not be sufficien:tn.py,y gsoun9 rer�ts,taxes and
<br /> to pay the nezt mortgage insucance prp.miura�i cEus irstruiaent aad ��S�ents ar insurance premiums.as th.case r.a.3}•.be, when the
<br /> the note serured hereby are insured.nc a ruonthly charge(in l�eu �ame shall become due and payabfe.then thr: S��-raKCr.shatl pay
<br /> of a mongage insurance premiuml if cf;es are held by tlie �o the Lender any amatrnt rie�:essary to "rna�u�ttti;:ds��terv.3r. on
<br /> Seceetary a!Nousing and Urban De�etopinenf.as foL►o�s• or before the date when paytnene�q(suzh groun� re�:fi Zs.Y4b„ -
<br /> � assessments,or insuslnce premiu�stztI{be due. lf at.any tittu;
<br /> (I) !f and so(ong as�id note of e-ren date a,^.�.f this instru- the Borrou�er shalE,.tertd�r to th�L�rcd:i. in aceordance with ttu;:
<br /> men4 are insured ar are reinsured under the provisior.�of the Na- provisions of the note s€tiur�d hRrt�i-p;fuU payment uf the entire
<br /> lional Housing Acr,an�mo�nt suffidcnt tQ a.;cumulate in[he indebte�ness represent:d�thr.rpis-�r,tlie Lender shall, in computing
<br /> hands of tht holder one(1)month pri�r t�i-s due date the annua! the amoant of such indebtedr.�ss. aedit to the account of the Bor-
<br /> mortgage insurance premium in order t�r�-os�ae s�.cch holder a•ith roa•er all paymenu made under thp p:ovisions of(a)of paragiaph
<br /> � fvnds to pay such premium ta the•SecrerQr. ef f?ous7rrt artd Ur- 2 hereof��hich the Lender has aof.�me obligated to pay to che
<br /> ban DeveIopirtent pursuant to the Nation2t HQUSi-r R.ex, as Secretary oi'Housing and Urban Deveiop�t and any balance re-
<br /> amended, and applicable Regulations ther�n8er;'or maining in the funds accumulated und:r th:pzflvisions of(b)of
<br /> (!I) If acd so long as said no[e oC�.�c� date and this instro- Parar,,raph 2 hereof. If thtre shall be a defauIr�ua�3�.r any of the
<br /> ment are hel��-�the Secretary of Ho•,yc-�and Urban Develop- Prorisions of[his instrurr�ent resutting in a public sate of'the
<br /> ment, a rrzont�[�°c:harge(in lieu of a martgage insurance prrmium) Premises coti•ered hereby. or if the l,ender acquires the property
<br /> _ which shall be in an amo�t coq,ual to one-cwelfth t i�1 Z'}of one- ��henvise aPter defautt,the Lender shall apply,a[ che time of rh�.
<br /> half(1/2}p�centum of ilzc;�rerage cL!sranding ir�:e due on �ommencernent oP such proceedings,or at the time the property is
<br /> the note computed u•ithouc taking in*.a,:,x�ysni delinquencies or �ihenvise acquired.the balance then remaining in the funds ac- "
<br /> prepayments: • cumulated under(b)af�ragraph 2 preceding, as•a credit against
<br /> tlnz amaunt of priacipal,rliec; remaining unpaid under said nate.
<br /> (b) A sum equal to the ground rents,,t:�.r_����,�le, p�us the and shaU properly adjc�� �.;y paym�u�vhich shall hare been
<br /> �-L:aiums thas+ci1i next become due and p�;��I:cn�alicies of made under(al of paragraph 2. ;
<br /> fL�and other lsazard insurance coti•ering the pr�,��:�, plus taxes
<br /> and assessr..�;r�lext due on the property(al1 as es,.:,,a[ed by rhe 4. That the Borro«c�-��ill pay ground rents, tasc-�,assessments,
<br /> Leader)less aJI�-vms already paid therefor divided by the number �vater rates. and othcr g�:�ernmental or municipal cY,uxi�.s, fines. � �
<br /> oF months to c:ia.pse before one(1)month prior to the date when or impasitions, fes�::;;;h pro��ision has not been ma3e
<br /> such gonnd rents, premiums, taxes and assessments will become hereinbefore, ar.d ��t default thereof the Lender may pay the sa,-:;
<br /> delinquent, such sums ta be held by I,ender in trus[to pay said and that the Rxar-a��er u•iU promptly detiver the official receipts
<br /> ground rents,premiums. tar.es and special assessmcnts;and [herefor to[he Lender. , -
<br /> (c) All payments mentioned in the t�sc��r��ceding subsections of ' =
<br /> this paragraph and all payments to be rr�ui,:uzder the note 5. The Borrou•er K;!1.�<;_, all taxes�vhich may be levicd upw► '
<br /> secured here b y s h a l t b e a d de d togct her, a-�.-�: a�gregate amount �hc L e n d e r's i n teres t in�,:..:,i rea l estate and improvements, and �
<br /> thereof shall be paid by the Borroti�er eac;; --ac.t[� i�.�;i 4?ngle pay- `�'hich may be Icvied upca this instrur«°�:t or the debt secureJ
<br /> ment to be applied by the Lender to the .°z".:�;.<<s :-.s�in thc hereby(but only[o[he exient �hat such is not prohibited by law•
<br /> order set forth: and only to the extenc t1i.;x such wi11 not make thi� lu�n u�uriaus),
<br /> , but rxcluding any inca.:-,: s•.ax. State or Federal. im��3;ed on
<br /> (1) pr..x-;am charges under the cc-.cact of insurance with Lender, and �►•i!!file:1:�_iGcial receipt showing such payment ' ?!f
<br /> [he Secretary of Housing and Urban Development. or monthly with the Lc�n.Li`e.>. Upon violation oP this uadertaking. or if'the �`�'� '
<br /> charge(in lieu af mor►gage insurance premium). as the�:ase may Barrowrr i��,}���;b;eed by any law no�v or hereafter existin� fram
<br /> ' be' paying the«'.::.!e or any�ortion of the aforesaid taxes,or upon
<br /> .�:
<br /> pl)graund rents. �axec, assessmen►s. i'ire and other Itazard �he rendering oi'any ec;irr. decree prohibiting the payment by the
<br /> insurance premiums; Borrower of any sucl�+ti��:,pr ii such law or decree pravidcs that
<br /> any amaunt sa paid U; i I�e�orrawer shalt be creditrd on thc debt,
<br /> (IU) interest on the note secured hercby; the I.encler�I:a;l ha�e�h: ;�tl�t t��i�e ninety days' ��•ritten notice
<br /> (IV) amottization at thc principat of said notc; and �p�hc rosncT �f:hc prcm��.��, rE4�;ring chc paymcm of thc debt.
<br /> If such noci�:6e�i�en, ih��aid dcbt sl�all bccume due,payabte
<br /> (V) tate charges. and callectibic at the r��ira�ion of said ninety days.
<br /> Any de�ciency in thc amount of such aF`y���:e rnonthly pay-
<br /> ment shall, unless madc gaod by the Bar��3=�,ez�rior tu tfte duc �• ��hat �hould thc Borr�wrr Pail to pay any sum i�r kcep any
<br /> date of'the next such paymEnt. constitutc ar. erer.t o(defauU ��'enant prn:r3ed far in�his instrument, then the l.ender, at its
<br /> under this mortgage. The I.cr:dcr may co:!e:c a "I�te cliargc" not �Ption,may pap ar perform the same,and all expcntiitiucti sa
<br /> to excecd four cents (4d)fnr eacb do3lar (Ri r af each paymcnt �
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<br /> Page 2 ot 5 HUO-82143DT
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