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<br /> �Q-= 1U1038
<br /> Borro�er aed I.ee�er cocemet�nd�re as foltors: rnore than 6feeen(153 days in arrears [o cover che exna expense
<br /> � ' im•oh•ed in handliag deli^r,,vPni payrnents.
<br /> 1. 'Phat BcinoK•er wiq pa}the indebtedts�s.�,as h:reir,.4�;fore
<br /> provided. Privileae is resen•ed ro pay th��dsb,lII H�6?�O.-ia part 3. That if the total af the paymems•c�de by the Borro�r•ec
<br /> on anY instatlment due date. urtder(b)ot p�r.P,�e�aph 2 preceding str��;;:xaod the amount of
<br /> P33�':ns a�tex�D'��r_r,�de bs thc E,cadc.r f�.grousid rents, taxes and
<br /> 2. That,together with.and in additi�to,che mont��}• �.gsess�::nis or,'s^;ur�nrx premiums.as the rase may_be,such ex-
<br /> payme:its of prIncipal and interest pa}•a�Lr�:�:r the terms of tha cess.iF th:foafr is current.at the optian of the Borrawec.shalI be
<br /> npte secared hereby, the Borrow•er w91��y tc►2he Lender. on tht credi*.�1 bi th:Lender on su6sequeot paymenu[o be made by the
<br /> fust day of�ach month ur.til th.�°sai�noie fs fu1ly paid,the 6orroKer�a;:refunded to the Barrow•er.If,how•ever. the manthty
<br /> follmving swns: p3�m�ets m�ck-hy th�Berrow•er�der(b)of paragrap6 2
<br /> (�) Amount suffcient to p�pti�iat th:h�ld2r hereof«ith funds p'�ng shaD�aot be sufficicnf to pay ground renrs,ta�es and .
<br /> to Qay the ae.�mongage iasuraax p-a*.-aum if this instrument and ����u ar insur.�nce pcc�i�:�s,as the case may 6e,when the
<br /> ttte aote secured hcreby are inr�.-ed, or a mo,zhly ch3r6e(in liev same shalj b:come ch:,aud'pcs;:able,then the Borrawer shall pay .
<br /> of a mortgage insuranm p_-gtrii^�)yf.th•:y a�e hetc3 tsy ifi,: ta�'���'����Y���f�sary to make�p the deficiency.on
<br /> Srccrdstry af Housing and Urbctn Deaelo�ment.as fo^,�ws: or befure ih:.rlate�phen payment of surh ground rents,tazes,
<br /> assessm:nts,ar ir•srn�-��.nce premiums shai!I�dLe. If at any tirrie •
<br /> (I) If and so tong as safd noi:of e�•en date and thu instru- the BarrovtFr.�1�l►t��er,ta the Lender,in accordaRCe with the '
<br /> cnent are in.,�;:a3•a*are reir,sured ua�:r ah�;pro�isions of th�h'a- provisions of'ttcc,aat.:.;�xseed 6ereby, full paymgnt of tiz�enrire
<br /> t%onaf Housir.�,r Arl;.an ampunt suffeaens to a�cumutate in the indebfc�ines�.tce�u�.�'.tlaereby,the I.ender shalt;'vs-�a�rsi�ii�7�
<br /> hands of the fv3'c��auc(�)moa:h prior to i�s dtte date the anaua! the amutuis of p�:li ar,c�ebtedness,creQit to the accourt;ra�;?i.:a:�Tx;r
<br /> mortgagt insura,�ce p:trai�•in ord�r to proride such holder with roxer all pay�iiazrs raad�under the provisions of(a}r�;easagraph
<br /> funds to pay such premiwin¢o th,:Secretary of Etousing and Ur- 2 hereof whicti the i.ender has not become obligated t���y to the
<br /> bat� Devetopment pursuamt to ttr:Natior.�!Hausing Act.as Secretary of Fdousing and Urban Devclopment anc�attp balance re-
<br /> , amended,and ap�licab'e Regulati�rs tlu:reund:r:or rr.aining in the furtds ac�vmutated under the provisians of(b)of
<br /> (II) IP and so long as said no;P oC ecer�date an�ths instru- p'�°�aph 2 hereof. ff[here shall be a deFault wnder any af[he
<br /> ment aze hetd by the Sec�ei�•af Hausi�g and Urban De�relaF- • t�isions ai.rhis instrument rzsulting iu:i�E*abtic saie of the ' " �
<br /> ment.a monthly charge(ir_lieu ot'a mA:�taage irsurFU:ce�remtrun) �ises eaccrc-dt hereby, or if ihe Lender:u;quires the property '
<br /> which shall be in an amaw-.: eqwit co or•.�.avel:Ih!1�12)of one- oth:rwise 3f't�default.the Lender shall appty, at the time of the
<br /> half p!2)per centi:rr of the asera�e ou:st�:ndi�sg balance due on u'�mencer,_�t of such proceedings,or at the time tF,��roperty is
<br /> the note computed w�itho�c.t�bcir.3 i��a�eouac delinquencies or .. ��15�?i��ise a:quired,the balanee chen remaining in the f-�s ac- ,
<br /> prepaymenu: ����w',r�rr(b)of paragraph 2 preceding, a5 a credi.�a3ainst.. �
<br /> � � the"ama¢tt�aC�principal then remaining unpaid under said�a,L� .
<br /> (b)A sum equal to tte p�aund•renY4,if tmy�,n�ct dne,�p►_us the an�shalt pra�rrly adjust any payments which shall have ba� ., '
<br /> prerniums that tivill neact becarar:H�-�and payal�(e on gaffcics uf rr.ade under(a)of paragraph 2. ' �.
<br /> Gre and other hazard insurance coverirtg�1�pro�erty,plus ta;es '
<br /> � and assessments nra�t-dve on the pr��crt}- (s11;is estimated by the. 3. That the 8orro�ver«i(I pay ground rents,caxes. :�.s:ssments. �
<br /> Lrndn)less all sunrs already paid therefa.-dirided by th�s number �vater rates,and other goti•ernmentai or municipal charges, fines, '" �
<br /> , of months to elaps:before o:ne(1)month prior to cho date when or impositions. for �vhich provisinn has no� been made�
<br /> such ground ren[s,premiarezs. taxes and assessmenu�vill bzcome hereinbefore,and in default thereof[he Lender rna ��.^```L
<br /> y pay the same: -
<br /> delinquent,such snms to be hetd by�Lender in trust to pay said and [hat [he Borro�ver will promptly deliver the offccia!receipts
<br /> ground rents, premiums, taxes and special assessments;and therefor to ihe I.ender.
<br /> (c) All payments mentioned in the tn•o precedir►g subsections oi g_ The Borrower�r•ill a aU [axes which ma be Iccicd u on
<br /> this paragaph and all pay�rs:enu to be made under �he note �' y Y P `;�-"—
<br /> secured hereby shall be added zogether,and the aggregate amount �he Lender's interest in said real es[ate and improti•ements, and %�
<br /> thereof shall be paid by the Borrower each month in a singie pay-
<br /> �vhich may be levied upon this instrument or the debt secured �
<br /> ment to be apDlied by the Lender to the fotlu�ving items in the hereby(but onty to the excenc that such is no!pra'�:�aii�by !aw
<br /> order set forth: and nnly to the extcnt that such�vill not make tY:.;tv;:r,.u�surioJS),
<br /> I*�t excluding any income ta.r, S[ate or Federal, ;;�y�;.�on
<br /> (I) premium ehazges under the contract of insurance �vith Leader,and will �te the ofGciat reeeipt r,1�•::ing sueh paymer+t �'t,
<br /> thc�r�,-retary af Housing and Urban Deti�elopment, nr monthly +�stch the Lender. Upon viotation oP[his uicertaking. or iP the
<br /> charge(in lieu of mortgage i►r�•urancr premium). as the case may i3�:rrow•er ic prohibited by any law now or hereafter c�ci:,ting from
<br /> �� �r.y�r�the whole or any portion of thc aforesaid taxcs�,cr upon ' �
<br /> (II)grow:�f rra.tts,taxes,assessments,fire and ather hazard �"�����dcring of any coun derree prohibiting ih�payit;i;,rr; �y thc �
<br /> insurance premiLCrs,:;. Borr�µ•er of ary such taxes.or ii such law or decree pravedes thzt •�"
<br /> any amoant su paid by the Borrower shall be credited on[he debt, -
<br /> (11l) interest on the n��1e secured hereby; �he Lender shall have the right to give ninety days' written notice
<br /> (IV) ame.rti:ation of the principal of said notc; and to the owner of the premises,rcquiring the payment of the debt. '
<br /> If such notice be gi�•en, the said debt shall become dae, payabJe
<br /> (V) late�fu�.c3es. and collectible at the expiration of said nincty days.
<br /> Any de�ciency in the amount of such aegrcgatc monthly pay- 6. That should the Borro«•cr fail to pay a�,,=suin or kcep any
<br /> ment shall, untess made good by the Borro�scr prior to che due covenant procided far in this instrumer.r, tltett thc Lcn�cr, at its
<br /> date of the next such payment.constitute an evenc oi defauft
<br /> under this mortga�zu. The Lender may callrce a `9ate charge" not option, may pay or perform the same,z»d�il cxpcnditi;::s so
<br /> � to exceed four cer+s(44)for cach doliar(�1►of each payment
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