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<br />7) 9---
<br />Borrower and I tender ro%enant and agree as iollow%:
<br />L that Borrower %%ii, ' •+ the nmdchtednes.. a, hetelalhero.c
<br />prmidcd. Pri%ilege I: se:; :%ed to pay the .left to whole If nt p.rrt
<br />on an} installment jute %late.
<br />2. That, together % %art,. and In addtrt %am to. the monthh
<br />payments of principal and inter%ht payable tinder the rerin, % +t the
<br />note secured hereby, the Borro%%cr wdl p,t% to, the t en%fet, am the
<br />first day of each momh until the .raid nore is full,. paid. the
<br />following sums
<br />(a) Amount sufficient to pro%ide the holder hereof with funds
<br />w pay the ne+it mortgage In%uranx• premium if this Instrument and
<br />the note secured hereby are Insured. or a monthly charge (tit Etell
<br />o' a mortgage in%uran%tc premixto tf they are held by the
<br />S+trsttary of Housing and Urban Mnettapr•.mem, a+ follow.:
<br />(1) If and so long a% said note %st c%:sm: s#d:e and this m %trrr-
<br />ment are insured or arc rem%ured under the pot *?:•:on, of the Na-
<br />tional Housing Act, an amount %ufticient to accumulate in the;
<br />hands of the holder one (1) month prior it% it, due date the annual
<br />mortgage insurance premium in 'order to provide such holder with
<br />funds to pay such rremium to the Secretary of Flou%mg and Ur-
<br />ban Development pUT ,.,jnt to the Namonal Noll%mg •%ct. a%
<br />amended, and appli,;,air(r Regulation% thereunder: or
<br />(11) If and ,o long a% %site' 110W of e%er. date and this in%tna-
<br />ment are held b) the Secretary % %f Housing an.'I Urban [)c%elup•
<br />ment, a monthh charge (in lieu of .a morr.aa: r. %sn(mr hrc•rtuunI
<br />%%hich shall be in an amount equal it- one- tut:xth (1 12) of tine
<br />half (I.21 per centum of the a%erage outstanding ha(an %c dale ou
<br />the note computed %%ithout taking istrc%account dehnquencte% or
<br />prepa }meats;
<br />(b) A sum equal to, the ground rents, tf am, next due, plu% the
<br />premiums that will. nett become due and payable tilt policies of
<br />fire and other hazard insurance t;o%ermg the prempen %- nlu%
<br />aaui amnsmemrs next due on the prorlcrt► (.ell .1% ri'llmired :) + the
<br />Lender) less all sums already paid therefor di%mded he the number
<br />tsf months to cl.rpse i•eforc 'Inc tit month prior to the date %%hen
<br />such ground rents, premiums, taxes and as,twmenr% mil! be,:oIne
<br />delinquent, such sums to tic held by I ender in rru,l co pa% sa,d
<br />ground rents, premiums, taxes and special a %%essments; and
<br />lc) All payments mentioned In the two preceding suhscoI(,1r, q
<br />this paragraph and all payments cos, ltw made under the note
<br />secured hereby shall be added together. and the aggregate
<br />thereof shall be paid by the Borrower each month ill a %angle pay,
<br />ment to be applied by the Lender to the tollowing items in the
<br />order set forth:
<br />(1) premium charges under iir contract of Insurance wlth
<br />the Secretary of Housing and Urban r)t%clopnrers, tit nmonthi%
<br />charge fin lieu of mortgage insuramr premiunzt -..iy the cast- ma%
<br />be: .
<br />(II) ground rents, lases, asses%m,•,t!,.:Ire and otho hwacd
<br />Insurance premiums;
<br />(111) int;r.:t on The note secured hereb%;
<br />(IV) amortization of the pnnnpai of %lad note: and
<br />(V) late charges.
<br />Any deficiency in the amount ot, inch aggregate monthly
<br />ment shall, unless made gam+ h.. t„ r !;%;rrotty prior to the due
<br />date of the next .lath pa5trt* t, .:%%^%:,lure a,, exert of default under this mortgage. The Le dtr rtuy collect a "late charge" nor
<br />to exceed four cents (4t) for each do ;ar (SO of each pa)ment
<br />ion• than fifteen 115) stays In alrear% to co%cr the exam fx(sett %e
<br />111whed all handling, %letumt(uent pa%nrent
<br />t Visit If file total of file pa%nlents made b) ill, N.+rrov %er
<br />under lb) of paragraph 2 preceding %hall exceed the amount of
<br />payments actual" made by the Lender for ground rent,, taxes and
<br />a,.e %%meat, or insuranx premium., its the case Wray he, such rx-
<br />ecss. it the burn is current, at the option of the Borro%er, %hall he
<br />crcdred by the t e;mdel- oil ,ubaequent payments tp be made by the
<br />Diorro% %cr, or refunded to the Fkvrower. Ir, hoae%er, the nmonthh
<br />payment, made by the 80troner under (h) of paragraph 2
<br />precttiling shall not he sufficient fo pay ground rents, talc% and
<br />asse•aneuts or m.urance premiums, as the case may he. %%lien the
<br />%ame ,?ma': become due and payable, then the Borrower shall pay
<br />i%. flee I estder goy amount ntwcssary to malic up the deficiency, on
<br />or (ti;rotr the da:e %%hen paymenr of such p%ijind rents, lase,,
<br />as,1 „tents, or ra%mnance premummv shall IT due. If at any tittle
<br />the }3tv.('ox%et shall tender to the Isnder, in a"ordance t %uh the
<br />pn�tr +;(ms of the rr.3te %ecured hereby, full, p',�t•ntent of the entire
<br />indehtednes re�v;r;rnred thereby, the Lender, •!tall, in computing
<br />the amount of %f c�h iirdchtedness, credit to NIt. account of the BPi-
<br />ro%%er all payments made under the provi%ien% of (a) of ri azraph
<br />2 hereof %%hich the 1 ender has not become obligated to pay to the
<br />iecretaty tsf Housing and Urban De%elopment and any balance re.
<br />maining In the hid% accumulated under the (,%u•%i,ivn% of (h) of
<br />paragraph 2 hereof. If there shall he a default under am• of the
<br />prt+%t%ton% of this tit %trtimeni rc,uhtng in a public %alt of :h:
<br />premises co%vrcd herch%. n: t` Ae Under acquires the rropeaey
<br />olhemiw after default, rho Ecst&r ,hall apply, it the iin% cy Lj,.c
<br />tomntctwetmment of su,:h proceedings. or at the time the prcq ey i,
<br />otllcmise acquired_ zhe balance then rernatning Ill the funds ac-
<br />,uinuiated under (br of paragraph 2 preceding. as a credit against
<br />fhc altlftllnt cif principal then remaining un(tiud under %std mole.
<br />and shall' properly adtu%t any paymenr+ nhich shall haw 1wil
<br />made a ^..7cr (at tit paragraph 2.
<br />J 1 hat the Rotnn%er Hill pay ground ri4n1s. taxes, a %%es%ment%,
<br />water rate %..tad other !"mernr+le-A• or Inge.. .af ; h
<br />�'I aw;. line
<br />or nnpo %imon %, for nhich pro%t%ltan 11 % not hten made
<br />hereuthefore. and in default 0?ett.),.r'rttr 1 ender ma) (say the %amc.
<br />.laid that the liorr(mer wall pro.wTg1zi;:. dch%er the official rccelpts
<br />Iheret,.r fit the I ender.
<br />% Me Borrouee W %oil pa) all tare% nhich irrar he lewd upon
<br />file ?.,tnder'S interest In Said real estate and Impro%ements, And
<br />hr le, led upon the% Instrument or the debt secured
<br />hereb% ci!tstrt only to the extent that Such is nor prohibited by fall
<br />and only to the a %tent that such will not make this loan u%urlou%).
<br />but ex;luding any In%ome tat, Sta:e or Federal, imposed an
<br />1 ender, -?Ld %%Ill fm`,e the official receipt 0-o -tsing such p;r)ment
<br />Huh !)•r'l.t l,lt:, Lpon %Ioladonr ufi 'fs uri1 rtaking. or it the
<br />Borro4rr t> ity any i; r. ;tits or hereafter cxastmg from
<br />pa)nug the wI>ue %n; .any portion Of' the aforesaid tave,, or upon
<br />the rcndenng %it aa;% :ao.brt decree prohibiting rl:e payment b) the
<br />Borrot%ea of any such •'axes. or if such law or decree pro%ndes that
<br />a^% amount so paid b% the Borrower %hall he credited on the debt,
<br />i- cndea ,hall hate the neht to gi%c nmcr) tia.% %%rlrten n )lice
<br />°tic owslot of the premise %, requiring the payment of the. diit1.
<br />It ,4.h nonce be gi%cn. the said debt shall Occ:onte dire, i`:ISa'lyle
<br />.and collectible at the expiration of said nilmy' days.
<br />6 that hayuld ti-,c 8vrruHrr Bail ft.,p,ay it” .• suer or keLp any
<br />W %craiir prof ided for in rhi% in fnrtitehl:, then the Lender, ill Its
<br />option. �.t pay or perform the iaint -, und'alhe.pcndnure% so
<br />pace 2 nti S HUtl 921430T
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