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Borrower and Under coorIlltnl and itgfcv ax fetlfowx;
<br />1 That Btatuwcr will pay thy; ondorhtctlttc %5, t. hefoothaorc•
<br />provided Privilege is re%cr%cd to pav the delit in whole or in part tilt
<br />any installment due date
<br />2 That, together with. and rn addition I41, the mvrolith pa%mvnl%
<br />of principal and interest payahlc under the terms 111 the noa: set tired
<br />hereby, the &truwcr will pay u) the Lender, tin the first dear ref each
<br />month until the said ntite w I'ully paid, the hvIIo%&uIV %urn,
<br />(a) .A %um equal to the ground rents, it anv, nest due, ph,r% lbc
<br />premiums that will ne %t hect)mc due and parable nn p►dicuis of fire
<br />and other hazard Insurancocrrvenng the property, ph►% taxea and
<br />assccsments next due on tht property lull as e►ttntate d MY rifle Lt•nrlur/
<br />tens all sums already paid thefefor divided by the number of munch%
<br />to elapse before one (11 month prior to the date when such };round
<br />rents, Premiums. tours 811-4 av%c%smenis will hecome dehquvnt. such
<br />sums to be held by Lender in iru%t to pay .aid ground rent..
<br />prermams, tares and %p vial amemmerit%. and
<br />(h, All payments morntioned in the pfetcvling %uh%ectiontvi thl%
<br />Paragraph and all payments to he made under the nuts sctiuled
<br />hereby shall he added together, and the aggregate amount th :reol
<br />shall Ix paid by the Notrower each month in a single payttrent to tie
<br />applied by the Lender,to the following norm% in the order set torah
<br />(1) ground rents, taxes, assessment%. fire and other hatarct tn%ur.
<br />ance premiums;
<br />(111 interest on the note %murcd hetcb %.
<br />(1111 amortitaticn uf.thc• prim ipal o) said note, and
<br />(IV) late thargeu.
<br />Any deftctencv.in the amount of %tech aggregate nzontht% payment
<br />shall. unless made. good by the Hnrrnwcr prior it) the dw: do4l,tit the next such p ayttsarrl. constitute an event tit default under th:cs
<br />mortane. The I:rnAor rna. e_,l1 .t pat. ^ ^:i:ariT�' i•cri i;�c>tcteci fnUT
<br />tents (4C) for o:auh dallat IS1 1 of each payment more th.tr, fifteen
<br />(151 days in aitear% to cue cf the exlta exp11•ev m-; _.};c%; t, L:�iodliug
<br />delinquent payments
<br />?. That If the total of the payments made N the Horrow,et under
<br />(a) of paragraph 2 preceding shall e%ceed the a:lu,unt of pavrncnt%
<br />actually made by the Lender lilt ground rents, laic %and a%scisiment,
<br />or Insurance premium%, as the case inlay be, such c%,L%s, it Ih7 loan 1%
<br />current, at the-option of the Porrower, shall he credited by trot+
<br />Lender on suhsequent payments to he made. by the Bl%rfrlwe'L'j or
<br />refunded to the Borrower. If. however, the monthly pavmcn•tt, made
<br />by the Borrower under fa I of paragraph 2 preceding shali no'I'lic
<br />sufficient to pay ground rants, laves and assessment %or insurance
<br />premiums, a5 the case may be, when the Wane shall hceome due and
<br />payable, then the Borrower %hall pay acs the Lender any arnrount
<br />necessary to make up the deficiency, on, or before the date when
<br />payment of:%uch ground rents, taxes, a%.kssment%, or insuramw
<br />Premiums shall he due 11 at any time the 1i►urnwer %halt tender to
<br />the Lender, in accordance with the pri1vi%ions of the r.,,tr, %&ured
<br />hereby, full'payment of the entire indebtedness represented,'hcrrh%.
<br />the Lendet•%hafl, in computing the amount of such indehtcdnes%.
<br />credit to the account of the Borrower anv balance remainr,rig in the
<br />funds accumulated under the provisions of (a I of paragral:Oi 2 hereof
<br />If there shall be a default under any of the prov►sri,n% of !bite.
<br />dw!rurnecnt-resulting in public: sale of the premliel,co:criiil herehc
<br />;�..,. 102807
<br />oe If the 1, 11th 1 Itopnos flm prly►c11% olhcnvnc after default, the
<br />cndt1 .11,111 ,11,1,1% at Ihr tune 1d the conu11cnu'oa'nt of %uth
<br />ptoaccdmg %. o) tit Ihr hole the pnyerly I%olherwor acquired, the
<br />halamT then rentatrunp It) 11W forhl%'it titnnlated undet (ai of
<br />parageaph . pecocdml;, as is %Irdit alta►mt the amount of principal
<br />then rcn)anuity unp,ud uncle, %;oil lion•
<br />4 Ihat the 111-114 1 will It," pnnunl rcpt %, tc1 %c%, a%%c%%mcnts,
<br />water rate,. and other goycrnnrcnlal o► mums opal charge%, fine,,, or
<br />IIIIIN Ruin%, fill which ptioo moil ha% not (seen made herem)xfore,
<br />and in default theu•od the 1 cudcr m1v la% the same, and that the
<br />Milli wee %vdl pi,11np11y ►Mhvet Ihr olhc 141 lecctpt% therefor to the
<br />ender
<br />S the Borrowcl will pa% all laws whoh n)av be levied upon the
<br />1 ender'% ►nlerc%i u) scud real a %tale and Improvement%, and which
<br />ma% he tc•vu•d Moor Ili% in %Uument or the debt sorcured herchy (t,..t
<br />only to the e%tcnl that %ut h t% 1111, proh)hgcd by law and only to the
<br />extent that %tich will not make this loan u%uriou%), but excluding any
<br />income tall, State or I ederai, onpolud tin I ender, and will file the
<br />official receipt showng %uch payment with the 1 ender. Upon
<br />violation tit this undertaking. or it the flcurower 1% prohibited by any
<br />law now or hereafter eunting from pa%inl the whole or any portion
<br />of the afore %aid la %e%, or upati) the rendering of anv coral decree
<br />pioh►hiling the payment bv the Borrower of alp, such late%. or if
<br />such law ur dec fee provide.. that anv amount %o paid h% the
<br />Borrower %hall to credited on the debt, the I ender shall have the
<br />right to give mnety day%' written notice to the owner of the premises,
<br />requiring the payment tit the debt If wrh notice he gocn, the said
<br />debt %hall become due, payable and collectible at the expiration of
<br />said ninety day%
<br />6 I hat %hould the (follower lad to pav an% Milt) tit keep am
<br />covenant pro%oded lilt in this in %human!, then the I ender. at it%
<br />option, may pay or pertorm the same, and all expenditures so made
<br />%hall he added to the principal sum owing on the said note, shall
<br />he secured hereby_ and %hall hear ,nleirem al the rata W. 11
<br />tin iii iftc
<br />said note, until paid.
<br />7 1 hat the Borrower herchy a-mgm, tran%lers and sets over to the
<br />Lender, to he applied toward the payment of the note and all sum%
<br />secured hereby in Cate of a default on the performance of any of the
<br />terms and condilum% of this Instrument of the %aid note, all the rents.
<br />revenue% and income to he dert%ed from the said premises during
<br />such time a% the ir)dehtedne%% %hall remain unpaid, and the Lender
<br />shall have plower to appoint aril- agent or agents it may de%ue for the
<br />Purpose tit repairing said premise% and of renting the same and
<br />colletting the rents. revenues and Income, and it may pay out of %•aid
<br />ntomc% all expense% of repairing said prernsw% and necessary
<br />I ommrssion, and c•xpen %c% ins uured in renting and managing the
<br />same and rtf collecting rental% therefrom; the balance remaining, it
<br />any. to to applied !toward the di%tharge of said indebtedness
<br />It That the Borrower will keep the Improvement% flow C%I%ling fit
<br />hereafter crested on the properly. insured as ma% tic required frorn
<br />time to time h% the lender agam%t It h% lire and other hazard%,
<br />ca%ualtie% and I ontmgencie% in Much amounts and for wrh pc•rnal% ;r%
<br />ma% he required h% the Lender and wdI pay prilmptly. when due:
<br />am premiums on such insurance. pro%ision for payment of which
<br />has not been made herenbefore All insurance %hall bt• earned 11,
<br />compante% approiged by the 1 c ndcr and the pohur% and renewal.,
<br />thereof shall be held by the I ender and Ita%r attached thcruji, toss
<br />l%a%ahic clau %or% in fa%or of and in form acu•ptahte to Ihi' I cndcr In
<br />Page 7 of 5
<br />HUD 92143b1 t
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