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1 +na?trr and Lender covenant and agree as fad ows.
<br />t'. i"wer will pay the indebtedness. as heteinbefare
<br />vMa INivilege is reserved to pay the debt in whole or in part on
<br />Nay inm iltit at due date.
<br />Z Thtr`+girtbrr with, and in addition to, the monthly payments
<br />!aprintxpbt'AIui.irz'xmst payable under the terms of the note secured
<br />bereby. the•atrttaw will pay to the Lender, as the first day of each
<br />. ;• ;. tttionth.tltt`,i3.tTtrsaid;no7l is dully paid, the following sums:
<br />(a) �t4 stYari Audi niche ground rents, if any. next dtw- plus the
<br />Pemirtmsitf kwift next: become due and payabk on policies of fire
<br />"a other hazard iusuranae,covering the property, plus taxes and
<br />m�ts .TIM due on the property (uf f as estimated by the Gender
<br />li ssala<'stbrrtc bludy paid therefor divided by the number of months
<br />da w.�. one (1) month prior to �ti: slate when such ground
<br />u ass: ,�t^eYnza tastes and assessments w& become deligttent. such
<br />: ss 3ps 7a die bed by LeadeT in trust to pj* said ground rants,
<br />W0niu1r4.'t4us and specW assessments; and
<br />15i` %M Xur -Mans mentioned in the pm=din¢ subsection of thi4
<br />P`amp*fiP hill paymenWtobe made under the note secured
<br />f neny sQrti4Q be added toiMer, and the aggregate amount thereof
<br />.Wf b,4 paid by the Botrmuar each month in a single payment to be
<br />a{p tied Sty xfti Under T6 *a following items in the order set forth:
<br />(I ?' +,otitt� ruts. taxes;,a;;ses Monts. fim and other hazard incur-
<br />.
<br />(11 }'rte nest tin the mite secant hereby;
<br />(111) aWyI;Wjon of t4 tprancigal of said note; and
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<br />Any defi:;etq: ,in rhe,nm um ofsu2h aggregate monthly payment
<br />shall, unless 5411d1 -b. tine Borrower prior to the due date of the
<br />next such (tatysnter►:. 4=151 tutc an event of default under this
<br />mortgage. Trac Under may W1100 s `uVz charge" not to exceed four
<br />cents (44) fur. eawn ,dnl;e :r? Sl) of ca: a F- Ljwent more than fifieen.
<br />(IS) days in ltsrtmn� e-s pense involved in handling
<br />delinquent pa,,1'.Men;S_
<br />3. That if ck pagme -4 Mode by the Borrower under
<br />(a) of paragni !i 2.Lna:c> �3 sl:all.tined the amount of payments
<br />actually made bar 060 L=;2 a fangM=-d n r_ts, taxes and a.a e%merts
<br />or insurance preinmrm ;as the 1� x mra� be; such excess, if the loan is
<br />current. at the option o!'s:lte 67 ;rro.wer. 011 he credited by the
<br />Lender on subsequent,pzymcrts.c, lye mz-de by the Burrower, or
<br />refunded to the Borro%tr.... f f t ow�a , the monthly payment% mjde
<br />by the Borrower under ra:agrz, ij Z preceding shall not be
<br />sufficient to pay ground Fsrw, lair;- and a ,essments or insurance
<br />premiums, as the case rn &y'..e' :'fame r Me same shall become due and
<br />payable, then the Borowwd, 1 ]. ina y i a `.Cie Lender any amount
<br />necessary to make up the dtSi -IN. xr or before the date when
<br />Payment of such ground rent.,. cages. &% iments, or insurance
<br />premiums shall be due. If at F T, tint -n. tF &3 mower shall tende* to
<br />the Lender. in accordance with the t �vtsiars of 1).1w mesa secured
<br />hereby, full payment of there r,.V %5rnew,,at?ad thereby,
<br />the tender shall, in computing +P.ie t :�� Wrr, r,; ;slit
<br />credo to the account of the Borrcq!r t t,,. t.�e1rF..'r� :. :, ^.g it
<br />funds accumulated under the provivs�z; o(i rs.L.aph he ~us(:
<br />If there -0211 be a default under any cftt p'wssctur54tt this
<br />instrument resulting in a public sate of :tar �r�r its ; ;cat ;, cd hereby.
<br />or if the Lender acqujrm t3.e'proW l,, hcrwsse alter default, the
<br />Lender shalt apply, ax rite tim-9 of Or. :90 nmencemert of such
<br />proceedings. or at the time diet pro N* is otherwise acquired. the
<br />balance then remaining in trhe fdn& #tcumulated under (a) of
<br />paragraph 2 preceding, a..a cNdit;an*mt the amount of principal
<br />then remaining unpaid under
<br />4. That the Borrower will, pa_3• ground rent% taxes. assessments.
<br />water rates, and other gcvptitraertal Of municipal charges, fines, or,
<br />impositions, for whichlltr6rWon has not been made hereinbefore,
<br />and in default. there0the Lender may pay the same; and that the
<br />Borrower will PONY deliver the official receipts therefor to the
<br />Lender-
<br />S. Thir 6Grrvaer will pay all taxes which may be levied upon the
<br />Len&i 's =teresst iiT, std real estate and improvemer a Er4 which
<br />mallbe Levied upon this instrument or the debt seer--u-4 hdeby (but
<br />poly Zz the extent that such is not prohibited by law and only to the
<br />i Ve..t: t:Itat such will not make this loan usurious), but excluding any
<br />13100me tax, State or Federal, imposed on Lender, and will file the
<br />official receipt showing such payment with the lender. Uper_
<br />violation of this undertaking, or if the Borrower is prohibited by any
<br />taw now or hereafter existing from paying the whole or any portion
<br />ct tote aforesaid taxes, or upon the rendering of any court 1cree
<br />p aMbicing the payment by the Borrower of any such taxes. or if
<br />s=b Caw or decree provides that any amount so paid by tow
<br />Borrower shall be credited on the debt, the Lender Th if 14%e tht
<br />right to give ninety days' written notice to the ow-:of the
<br />requiring the payment of the debt. If such noticz be.c,et , the said
<br />debt shall become due, payable and collectible nt :tflr'expation of .
<br />said ninety days.
<br />6. That should the Borrower fail to pay any sum or :peep any
<br />covenant provided for in this instrument. then the Q ra -Kldr, a? its
<br />option, may pay or perform the same. and all erpenditu ^es so made
<br />shall be added to the principal sum owing on the said nr,.tt: s6s)
<br />be secured hereby, and shall bear interest at the Ult set forth -in the
<br />said note, until paid.
<br />7. That the Borrower hereby assirs. transfers and sets wie' r to the
<br />Lender. to be applied toward the payment of the note and 4L, warms
<br />secured hereby in case of a default in the performance of any o; :,} e
<br />terms and conditions of this instrument or the saa9 note, all the rents,
<br />revenues and income to be derived from the said premises during
<br />such time as the indebtedness shall remain unpaid, and the Lender
<br />shall have 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 rl ay pay out of said
<br />incomes all expenses of repairing said premises atrt� necessary
<br />commissions and expenses incurred in renting ard, managing tae
<br />same and of collecting rentals therefrom; the balance remaintag, if
<br />any. to be applied toward the discharge of said indebtedness.
<br />8. That the Borrower will keep the improvements now existing or
<br />hereafter erected on the property. insured as may be required from
<br />time to time by the Lender against loss by fire and other hazards,
<br />casualties and contingencies in sueb - amounts and for such periods as
<br />may be required by the Lender and will pay promptly. when due,
<br />any premiums on such insurance, provision for payment of which
<br />has not been made hereinbefore. All insurance shall be tarried in
<br />companies approved by the Lender and the policies and renewals
<br />thereof shall be held by the Under and have attached thereto loss
<br />Payable clauses in favor of and in form acceptable to the Lender. In
<br />range 2 or 5
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<br />HUD-92143D T-1
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