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<br /> � Borso�rr and I,Pnder corenartt n�td agree as Pofloas: mnre than Gftcen (IS)days in arrears to caser the extra expense
<br /> inroh�ed in handJing detinquent paymems_
<br /> 1. Thaz Bonow•er will pay the�adebtedaess,as herein�efore
<br /> provided. Pri�ilege is resen•ed to pay the debt in «hole or in part 3. That if the tota's of the payments made by the Borro�ver
<br /> on any instatImeni due date. under(b)of paragaph Z preceding shall exceed the amount of
<br /> �' paymrnts actually made by the L.ender for ground rents,taxes and
<br /> 2. That,together«ith,and in addition ta,the monthly . assessmenu or insurance premiums, as the case may be.such ex-
<br /> pap►aents of principal and int�erest payab2e under the terms of the cess, if[he toan is curren[,at the optian af the Borra�ver.shall 6e
<br /> note secured hereby. the Borrotir•er wi[{pay to the Lertder.an tfie �-redited by ihe Lender on subsequent payments to tre made by the
<br /> first day of each.manth until the said note is fully paid,the Borrotiver,or refunded to the Barrower. If,ho�vever, the monthly
<br /> followittg sums: psyments made by the Borrower under(b)of parngraph 2
<br /> (a) Amount suffiaent to pro�•ide the rolder hereof with funds Preceding shall not be suificient to pay ground rents. taxes and
<br /> to pay the next mortgage inswrance prc�aum if this instrument and �ssessm:nts or insurance premiums,as the case may be.when the
<br /> the aate secured 6ereby are insured, or a monthly charge(in lieu same shal!become due and payabte, then the Borrower shalt pay
<br /> af a mangage insarance premium)iF��:c are held by the to the Lender any aenount necessary to make up the deficiency,on
<br /> SecFeiary of Housing and Urban Qc-�:.:�3�ent,as faltotss: or 6efore the da:z�vhen payTnent of such gourtd rents,taxes,
<br /> � assessments.�r iz�ac�nce premiums shall be dk�._ If at any time �
<br /> (ij E€�:,�.so tong as sai�.r.o:p af�ven date and this instru- thc'Borranz-�,h;:i te�3er to the Lender, in acc�r;.�x�rith the '
<br /> tnent ate:��1 ar are re�s:c*r,f�r.-�.�the provisions of the Na- procisi�rs.,t the note secured hereby. ful! payment of the es;�re
<br /> �_.�nal Housing Act,an�,;cat suf�aent to accvmulate in the indeb;eds�s represented thereby, the Lender shall,in comgs�g �
<br /> �:ands of tiu holder one Ej3 month prior to its due date the annual the atnount of such indebtedness.�dit co the account of t1:::;..�s-
<br /> ;�:oRgage insurance premium in order co provide such holder �sith row•er al! payments maQe under the provisions of(a) af paragraph
<br /> funds to pay such premium to the�e�ary of Housing and Ur- 2 hereof which the Le�:^s has no[become obligated to pay to the
<br /> ban Development pursuant to the'��.;,anal Hausing Act,as Sec�etary•of Housing «*��'Crbzn [?evelopment and a�►y balance re-
<br /> amended,and applicable Regularer.� rhereunder, ar maininF in the funds accum�'.aced u,^.�er the provisions of(b)of
<br /> QI) If and so loag at�a:.i ra'e o(ecen date ar.d this instru- Paragraph 2 hereof. If there shatJ 6e a default under any of the
<br /> ment are held by th:S�:r�-a:y of Ho:.t�ing and Urban De�•elop- P�o�ision.of this instrur.ient resulting in a public sale of th:
<br /> ment,a monc.k:p :hzr�.(in lieu of a r��rtgage insurance premiu.r,) Premises co��ered here�ti,or if the l.ender acquir�.a th:pro�r[y
<br /> which shal2 6e;r. an an:.�u�[equal ta cae-tµ•elRh (I/12)of on:- othen�•ise after defau'_. che Lender sha11 apply, a:th: time of'the
<br /> half(1/2)per centur.� oF sh:average e�rstartding balance due o�. �ammencement of such proc:eedings.or at the[i-;the propercy�is ,-
<br /> the note computed�+ithou:sakin�into acrount delir.quencies oc othen�i�e acquired. the balance then remainin� in the funds a:-
<br /> pre�aytnCnts; cumutate�ander(b)of paragraph 2 preceding,as a credit ag:.'.r�t '
<br /> the amoL-:of principal then remaining unpaid under Said no:e.
<br /> Eb)A su:�equal ta•th:ground rencs,if any,next due, plus the anQ shal! praperly adjusi any payment5�vfiich+hall have been
<br /> premiums chat tvill next 6ecome due and pay�able on policies of madc under(al af paragraph 2.
<br /> fire and ath:r hazard insurance eacering the property, plus taxe5 � •
<br /> and assessments next due on the property (alf a�cstimatcd by nc� 4. Tha: the Borrati�•er�cill pay grpund re�ts, taxes, assessments. '
<br /> Lender)less all sums already paid therefor dicided by che number ►cater rat�,and o[her gocernmental or municipal charges, iines,
<br /> of months [o elapse before one(1)month priar ta the da[e w•hen ur impotirtionr, for which provi+ion has not becn made �
<br /> such ground r�:is, premiums, ta�es and asses.mcnts u�iJl bccomc hereinbeforc, and in defaule thereof the Lender may pay the same:
<br /> delinquent. �u:t, sums to be held by I.ender in trutit t�� pay said and that the Borrower uill promptly defivcr �he c,fficial receiDrs �
<br /> _. gmund re:,ts�.�:e:niums,tares and special ati�eccments; and eherefar tc*the l.rndc�.
<br /> (c) All payments mentia.�.�in the two prrceding �ub5eclians of -•µ�
<br /> ck"s paragraph and all pa}:::rats to be ma�ic undcr thc nute 5. The Horrc�ucr ��•ill pay a0 taxrs which may be�evird upo:i
<br /> secured hereby shall be added togeth:r.and thc aggrrgate amour.c �hr Lendcr's intc�eLt in ,aid real eLta[e and impro�cmentc,and '�
<br /> thereof shall be paid by the Borrourr ra�h month in a single pay- `�hich niay he le�icd upon thi.instrumcnt or the debt cecured
<br /> nlent to be applied by thc l.cndcr to ehe ktillowing itcros in the F�tnny �hut only to thc crtcr.t ihat such iti not prohibited by law ,'�
<br /> c-�er set forth: and only tu the extent that such will not make this loan usurious),
<br /> but ex�tcd�-3 any mcume tax. 5tate or I�ederal, impotied on .
<br /> (1) premium charge� under�he contract c�f in4uranee�vnh I.er�dcr, Fr�will(ite[he official receipt showing such payment
<br /> the Secretary oP Hou�in�;and Urban Dccclupmcnt, or monthly uith the Lender. Upon violatian of thi�undenaking,or iP 11ic '
<br /> eharge(in Ireu,�f m�rttgage insur;�rtre�uenuum). a� the cace may Fiurrati�cr is prohibited by any law now ur hereafcnr exitliny from
<br /> be: paying �t�: uhalc or any portion of`the aforesaid taxch, or cF�:n �
<br /> (11)�tJ;:nd rents,ia�e�, acre+�ment�. tire and vthcr haiard ��tc ter.�•tr.rn of any court dccrce prohibitinb thc payment by ::,;; �
<br /> insurance p�Er::`.�nis; 13orro�tie; of any tiucl� taxc+, ar iP tiuch law ar�_crrc pruvidcti that
<br /> any antuunt �a paid by �he B�rro�ver tihall be creditcd rni the debt,
<br /> . (IIII i�'i�:Ltit on the nofe tiecutetl L•creby: el�r I ender cha�ll hti�•c;::right u>give ninety dayti' arittcu nuticc
<br />. (IVl ;,.-t:rtitation of thc principal oi :,�id natc: and .• thr o.ti•ncr of thc �y;c::::sc�. rcpuiring thc ��ayuieiu of chc debt.
<br /> tt �uct► r�otire hegicen. �he said decJ sha�l bec��me due. p;�yuhle
<br /> . (�I 1¢�tc chargcs. anu cu�:c.. :�:e ai the cxpiratic�r►ct �::,� nincty days. .
<br /> Any deficiency in the 2-:���nt of'such ag�regate mont:�; ;�.•
<br /> ment shalE. �:-.:•rss made goad by the F3�xruuer priar to tlie d,.� �'• Y��at .i�,�uld th�13c�-rn�t�cr fail tv pay any�um nr kecp any
<br /> date of the r�c�:: Su�h payment,conslitutc an cvent ai default �orcnant prcn•�drd t�.,r --: �!;i� i�ntrurncr.t, then the 1�udrr, at i�r
<br /> under this mortgage. Ttie Leuder may collect a "late cl�arye" ne. .'�tion. may pay nr �rr:•,�cm the tia^:c. and :�II c�{,rndi?at:•ti�c�
<br /> to exccCd four cents(s¢)fe�r cach dollar�SI)of each pa>�n�ent
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