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<br /> ` � Barse��ser�nd Lender co�-eaaat�nd�gree zs tNlaxs: mare chan fiftee��05!days in arrears to covcr the exc�a expense
<br /> _ 1_ T'hat Barrmti�rr tivill pay the irtdebtedness,as hereinbefore �n�olti�e:i in handGng dclinquent payments.
<br /> prai�ided.I�rivile�t is reserved to Ray the�ebt in��hole or in part 3_ That if the total of tke payments mada Esy the Borrowec �
<br /> an a�* innallmcil(due Cate. und:r(b)of paragraph 2 preceding shall excccd thc amount of
<br /> payments ac[ually made by the Lxnder for ground rents. taxes and
<br /> 2• That, togrtltcr with.and in addi[ion to, th�:monthly assessm�nts or insurance premiums, as the case may be, sucfi ex-
<br /> PaYm�ntsof prinGipal and interest payabte under the terms of the cess,if the loan is currer.t,at the option of tlte$orro�ver,shall be
<br /> nnte xrurr3 6cre'at�,:the Borrower wilI pay to the Lender, on the credited by the Lendcr on subsequent paymeu►.s co be made by the
<br /> ��d�p oF cacS�"montb unt7 thc said note is fuliy paid,the Barrower�or.refurtded ta the�Borrower. If, hawever. the monthJy
<br /> _. faUuwinQ sumt: payments rnade by the Bonawes under(b)of paragraph 2 '
<br /> (A?Aettaant+sttfticient to provide the ho2dcr hereof with funds pr��ng shall not be suffieient to pay ground rents, caues and
<br /> �a pay cha a�t�•morcgane insurance premium if this instrument and �S�ments or insurance presni�ms. as the ca�se rteay be. wl:en the
<br /> thc not�s�urzd hereby are insured,or a monthfy charge(in lieu S�e sha{I become��e and payable. then the Borrower shall pay
<br /> u6a mmrtgage insarance premium)if they are he[d by the to the Lender any�.arnount necessary to make up the d�ciency,on
<br /> S�retary of Housing and Urban Development.as follows: or before the date when payment of such ground rents,taqes,
<br /> assessments,or insarance premiums shall be due. If at any time
<br /> (I)I£and so long as said note of even date and this inscru- the Borrow•er shall tender to the Lender.in accordattce«ith the
<br /> ment are iasured ar are reinsured under the provisions of the[Ya- protiisions of the nate secc�,::d hereby, fulF �ay�sent of ctr.rntire
<br /> � tionai Hwsing Acc,aa acaoant s;�f'fcient ro aecumufate irs the indeb[edness r�en:ed tl:ez:�y,the Lea�:r shalt.in cc����.,ina
<br /> : hand�af the holder one(!)r.ic�u.��;:.�riar to sts due date the annual the amo�nt c,'>s�a^;nde8.°:;:,.�ss,credit t�i�;accuur_:u�`th�BQr-
<br /> [h°
<br /> �c�`a.�3asurance premiuni iR���er[u prot•ide such he�!�ra;�:ith ro�rer a:;�;�r�:{made c-�t�-��e protis:.ars af(a)oc,y�-��aph •
<br /> � , . _�s��^+.ray sush�l�Waium to the Secretary c�t'i�T�using a:,��r- 2:��a�s wtzci��the Lender F�:s�3t becGr���°_igate�[8 pay fo the
<br /> � • �--=.�'J�lnpmeu r�;r;ant to[he National f-h��;�;.�Acr as
<br /> a > . �.�e�.:.ry of Housing and L;��4i Deti•elo��`r::z,d�:�bu;fz.ce re-
<br /> a.=j:n".e�,aad a;��::�raie Regulations thereu.-r:�a:or .. m�:raLg in the funds accumLia�e�Lnder-ie�-o�isi�:3s m7'jby of . •
<br /> Guii= If an�s� 2ang as said nate of eE��: ,:ta.°and t°,s ir.��.:_ t:'*a�:aph 2 hereof. If there sh�1 be a det2u]_ u�der a:�3•ot the
<br /> r�er.t 2:� held b��-`e Secretary of Housing a:-:�ysoan�e«:��,- r a�?sions of c.�.is i:stru�::�:: resu'tiag in a pubtic sal�of che
<br />— meni,a monthly�:���e{in lieu of a mvnga��i:*.;urance premium) �`�`"��O��r���sz��'�o:if ti;e Lender acquir��s[fie pro;r;:ty�
<br /> � , which shall be in 2r_ �oant equal to one•tweife�(1/12)of one- °'-'��jse after defauIt.the Lender shall apply. at the tirne of the
<br /> 6alf(1/2)per centum of the average outstanding balance due on �ommencement o€such proc$edings. or at the time the property is
<br /> the note computed without taking into account delinquencies or athenvise acqaired.[he balance then remaining in the fands ac- ' '
<br /> prepayments; cumulated under(b)of paragraph 2 preceding, as a credit against '
<br /> the amount of principal then remaining unpaid under said note.
<br /> (b) A sum equal to the ground rents.if any. next due, plus the and shall properly adjust any payments which shall have bcen
<br /> premiums lhat will ne�t become due and payable on policies of made under�a)of paragraph 2.
<br /> fire and other hazard insurance covering the property, plus tares ' '
<br /> and assessments next due on the praperty(all as estitnated by thc 4. That the Borrowcr will pay gruund rents, t�xes.atisecsmems,
<br /> Lender)tess all sums already paid therefor dividrd by the number aater ratcs, and other go�crnmcntal ar municipa!rhargcs, fi�tes. ,
<br /> of months to elapse before ane(1)mor�th prior to the date when or impositions. for which pravision has nat been madc
<br /> such ground rents, premiums, taxes and assessments will become hereinbefare,and in defautt thcreoi[hc Lcnder may pay the same;
<br /> , delirequent.such sums[a be held by Lender in trusc ta pay said and that thc Barrou•er will promptly dclivcr thc nfficial reccipts
<br /> ground rente, premiums, taxes and special assessments:and chcrefor to the I.cnder. ,.:�-,�`
<br /> _ l�) Al! payments mentioncd in the two preceding subsectiont�.f ;. ;.-
<br /> this paragraph and all payments to be made undcr thc note 5• ?hc 8orrnwcr will pay all taxes tvhich saay be tevied upon ��
<br /> secured hereby shall be added to�ether, and the aggregate amoUr^ the Lender's interest in said real estate:►nd improvements. and
<br /> thereof shalt be paid by the Barro�ti•er each month in a single pay• °"'hi:h may be Ievied upon this instrument or the d:bt secured
<br /> ment to be applied by ihe Lend:r to the foltowing items in t3�.� hereby(but only to the cxtcnt that such is not profiibited by law
<br /> order sei fonh: and only to the extent tha[ such will not mal;e tbis loan usurious), ;�. `
<br /> but excluding any income tax, Statc or Fed:raF, imposed an '
<br /> (I) prernium charges under the contr`act of insurance with l.endcr,and tivitl file the of�cial receipt showing such pa�rrent � •
<br /> the Secretary of HoLSing and Urban Developm�nt, or monthiy ��•ith the Lender. ilpon violation oi this und�rtaking.or iF tl�c �'��
<br /> chazge(in lieu of mortgage insurance premium�, a:the case may 8�na�.��tr is prohibitcd by any law now or hereafter exis�ir,�fram
<br /> �' payi:�g the whr,I:4,*any portion of the aforesaid taxes,or upan :•�-`
<br /> (11) gound rents, taxes,assessments, fire and other hazard the renderin�n`."G.*.y court decree prohibiting the paymcnt by the � '"�'
<br /> insurance premiums; Bo:rower of a:., sach taxes. or if such law or derree trr�i;.s that
<br /> (III) int.v.^5� 6i! the note securcd hereb ; ��y G•^ovnt so paid by thc Borrower shall be�reditcd c+rz v'•:debt,
<br /> Y thc E.rnder shal{ havr the risht to give ninety dayti' ti�•ri��cT noti�e
<br /> (11� amarti�ation of the principal of caid note: and �o lhe owner uf[he premiscs, requiring the payment af the deb[.
<br /> IP such nati�c be givcn. U�c tiaid dcbt shatl txcomc due, pay�btc
<br /> (V) late charges. and collcetiblr at the expiration of said ninet� days.
<br /> Any deficiency in the amount pf such aggregate monthty pa,y- '
<br /> tnent shall. untess madc gaorl by the Borrower prior to ihe duc h• �rhtrt shc�uld �he fiarru�cct Pail to pay any�utu or kce�any
<br /> date of the next surh payment.canstitutc an event of'dcfault �oti•cnant pravidcd for in this instrumcr�4 �he� thc Lcnder, at it,
<br /> � under this mortgage. 7he Lender may co!lect a "late ef�argc" not °�'��on. may pay or perPc�rm the same, and all expeuJilurcti �c�
<br /> to exceed four rents(4d)f'or earh dollar(SI)of each payment
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