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<br />Borrower gird Leader coveagai anti aver rrs follow;
<br />L That Borrower will pay the indebtedness, as hereinbefore
<br />provided. Privilege is reserved to pay the debt in whole or in
<br />part on any installment due date.
<br />2. That, together with. and in addition to, the monthly
<br />Payments of principal and interest payable under the terms of
<br />the note secured hereby, the Borrower will pay to the Lender,
<br />on the first day of each month until the said note is folly paid.
<br />the following sums:
<br />(a) A sum equal to the ground rents, if any, next due, plus
<br />the premiums that will next become due and payable on policies
<br />of fire and other hazard insurance covering the prcpeny, plus
<br />taxes and assessments next due on the property (till as estimated
<br />by the Lender) less all sums already paid therefor divided by the
<br />turm1mr of months to clals_c before one (1) month prior to the
<br />dart when such ground rants, premiums, taxes and assessments
<br />will- become delinquent, itidt, stuns to be held by Lender in trast
<br />to pay said grtr and rents, premiums, taxes and special
<br />assessments; �. R,r .
<br />(?4). All pk%:, , is mentioned in the preceding subsectidn of
<br />tai paragraph and all payments to be made under,t'ta; note
<br />:•c=ared hereby shall be added together, and the aggregate
<br />aMeant thereof shall be paid by the 8orrawei each month in a
<br />singlepaymern tnr be applied by the Lend=.t:a the following
<br />fterrsin the osier Wt forth:
<br />Qi ground rents, :i-e and other hazard
<br />in .;trance premiums;
<br />(11) Interco., 4-% -, the note secured hcrab?,,.
<br />(Ill) arrtorization of the principal of said note: and
<br />(IV) late charges.
<br />Any deficiency in the amount of such aggregate monthly
<br />payment shall, unless made good by the Borrower prior to the
<br />due.date of the next such payment, constitute an event of
<br />default under this mortgage. The Lender may collect a "late
<br />charge" not to exceed four cents {la) for each dollar (SI) of
<br />each payment more than fifteen (13) -days in arrears to cover the
<br />extra expense involved in handling delinquent payments.
<br />3. That if the tea -cal of the payment:: made by the Borrower
<br />under (a) of pa zgraph 2 pre- . -eding shall exceed the amount of
<br />payments actually made by tire Le;ider for ground rents, taxes
<br />ar-,i; a�sessmcnts or insurance premiums, as the case may be.
<br />suet: excess, if th'e loan is current, at the eption of the
<br />Borrower, shaDi tae credited by the Lender on subsequent
<br />Payer : s to bi -n a�4e by the Borrower, or refunded to the
<br />BC-n"Cw`e' the rr,o-:thly payments made by the
<br />[.µ . 'of paragrat, - 2 preceding shall not be
<br />sufficient to tai j;r,ound rents, taxes and assessments or
<br />insurance pretr.�7;a, as the case may be, when the same shall
<br />become due at4 t;zyable. then the Borrower shall pay to the
<br />Leader any arrount neccssare to make up the deficiency, on or
<br />before the date when paymen-, of such ground rents, taxes,
<br />assessments, or insurance premiums shall be due. If at oily time
<br />the Borrower shaD tender to the Lender, in accordance with the
<br />provisions of ttg Late secured hereby, fu•I9 payment of the entire
<br />indebtedness represented thereby, the Lender shall. in computing
<br />the amount of such indebtedness. credit to the account of the
<br />Borrower any balance remaining in the funds accumulated under
<br />the provisions of (a) of paragraph 2 hereof. If there shall be a
<br />default under am of the provisions of this instrument resulting
<br />in a public sale of the premises covered hereby, or if the Lender
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<br />acquires the property otherwise after default. the Lender shall
<br />appl!.,_ at= the time of the commencement of such proceedings, or
<br />at the time the property is otherwise acquired, the balance then
<br />remaining in the funds accumulated under (a) of paragraph 2
<br />Preceding, as a credit against the amount of principal then
<br />remaining unpaid under said note.
<br />4. That tha Burrower will pay ground rents, taxes,
<br />assessments. water rates, and other governmental or municipal
<br />charges. fines, or impositions, for which provision has not been
<br />made hereinbefore, and in default thereof the Lender may pay
<br />the same: and that the Borrower will promptly deliver the
<br />official receipts therefor to the Lender.
<br />5. The Borrower will pay all taxes which may be levied upon
<br />the Lender's interest im -oi-d real estate and improvements. and
<br />+`hich mad 1Je levied .?a this instrument or the debt secured
<br />r:ewby fi r chly to ter _r:etit fiat' v',F..zh is not prohibited by law
<br />Cne extent � 'Sucn u l •�^at make this loan
<br />lousy, but excluding iD�r income •tax. State of Federal,
<br />unposed on Lender. a;4'4j11 file.tHq.- offtcial rc.^^ipt showing
<br />..such payment with tlivY:.aA&r. Ltp'otf wialation of this
<br />undertaking, or if the W&,aicor zs prahibited by any law now or
<br />hereafter existing from: a;.fim she whale or any portion of the
<br />aforesaid taxes, or upon .r:: rendering of any court decree
<br />prohibiting the oaymeet _`hi° the Borrower of any such taxes, or
<br />if such law or decree p;: vijes that any amount so paid-by the
<br />Borrower shall be credhisd on the diet, the Lender shall have
<br />the right to dive ninety days' written inatice to the owner of the -
<br />premises, ragi iring the payment of the debt. If such notice be
<br />given, the said debt shall become due, payable and collectible at
<br />the expiration of said aunty days.
<br />6. That should the Borrower fail to pay any sum or keep any
<br />covenant provided for in this instrumit, then the Lender, at its
<br />option, may pay or perform the sore, and all expenditures so
<br />made shall be added to the principal sum owing on the said
<br />note. shall be secured hereby, and shall bear interest at the rate
<br />set forth in the said note. until paid.
<br />7. That the Borrower hereby assigns, transfers and sets over
<br />to the Lender, to be applied toward the payment of the note
<br />and all sums secured hereby in case of a default In the
<br />performance of any of the terms and conditions of d;tais
<br />instrument or the said note. all the rermr.,, revenues and income
<br />to be derived from the said premises zL Ting such time as the
<br />indebtedness shall remain unpaid, and she Lender shall have
<br />Power to appoint any agent or agents it may desire for the
<br />purpose of repairing said premises and of renting the same and
<br />collecting the rents, revenues and income, and it may pay out of
<br />said income,; ,s1 expenses of repairi ^;i. said premises and
<br />necessary• =.missions and expenses ornurred in renting and
<br />managiaG ,.e& flame and of collecting rentals therefrom: the
<br />balance re,at—ing, if any, to be applied toward the discharge of
<br />`.ail izv: rsdness.
<br />r.ne Borrower »:::,t f ccp the improvements now
<br />cZ*D,r_3 or rm,eafter ere :, e.", :st the PV -erty, insured as may be
<br />required fro•::-: time to tim,! by the Lt titer against loss by fire
<br />and other hazards. casm]6es and con s'?s 3encies in such amounts
<br />and for such periods as rn2:j be required by the Lenfa.r and will
<br />Pay promptly, when d:r- -e- 2..1y premiums on such iz r rance,
<br />provision for - past- :m:. ef which has not been made
<br />hereinbefore. Aff. ij -: ; :ranee shall be ct "ri.ed in com;anies
<br />approved fyj' tho L._nder and the polic�r and renev411:s thereof
<br />shall be held by the Lender and have aitaclWd,tIWq:,; joss.
<br />payable clauses in favor,of and in form ac�epiabie (,3', {he
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