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<br />Wien, 1M3-1 --
<br />"rorver and Loader eoventim and agree as faBows:
<br />1. That Borrower will pay the indehiedriess. as bercinbefore
<br />provided. Privingo is reserved to pay the debt in whole- of in pan on
<br />any installment due date.
<br />2. That, together with, and in addition to, the monthly payments
<br />of principal and intemat payable under the terms of the note secured
<br />hereby. the Bofmwer will pay to the Lender, on the first day of each
<br />month until the said note is fully paid. the following sums:
<br />(a) A wet equal to the ground renm if any, next due, plus the
<br />Premiums that will next become due and payable on policies of fire
<br />and other hazard insurance covering the property, plus taxes and
<br />aateaatmm next due on the property (a# oar &WMaNd by ilk Leader)
<br />klta all sums already paid therefor divided by the number of months
<br />to elapao bekire: one (1) month prior to the date when such ground
<br />rents, premiums, taxer and assessments wiN bmime dcliquenL such
<br />sums to be hold by Lender in trust to pay said ground rents,
<br />premiums, taxes and special assessments; and ,
<br />(b) All payments mentioned in the preoctling subsection of.this
<br />paragraph and all payments to he made under the note secured .
<br />hereby shall he added together, and the aggregate amount thereof
<br />shall be paid by the Borrower each month in a single payment to be
<br />applied by the Lender to the following items in the order.set forth:
<br />(1) ground rents, taxes. assessments, fire and other hazard insur•
<br />ance premiums;
<br />(11) interest on the note secured hereby:
<br />(Ili) amortization of the principal of said now and.
<br />(IV) late Charges.
<br />Any deficiency in the amount ;of such antettate monthly payment
<br />shall. unless made gored by the Borrower prior to the due date of the
<br />next such payment. constitute an event of dtsfault under this
<br />mortgage. The Lender may collect a "late charge" not to exceed four
<br />tntc !4e) for ems! dollar (Sp 1) of each p:y:wal Wore than iificcn
<br />(13) days to arrears to cover the extra expense involved in handling
<br />delinquent payments.
<br />3. That if the total of the payments made by the Borrower under
<br />(a) of parapaph 2 preceding shall exceed the amount of payments
<br />actually made by the Lender for ground rents, taxes and assessments
<br />or insurance premiums. as the case may be, such excess, if.the loan is
<br />current. at the option of the Borrower, shill be credited by the
<br />Lender on subsequent payments to be made by the Borrower, or
<br />refunded to the &wrower. If, however, the monthly payments nude
<br />by the &itrower under (a) of paragraph 2 preceding shall not be
<br />w1ficcent to pay ground rents, taxes and assessments or insurance
<br />premiums, at the case may he, when the same shall beeume due and
<br />payable, then the Borrower shall pay to the Lender any amount
<br />necirwry to make up the deficiency. on or before the date when
<br />Payment of such ground rent%, taxes. assessments, or insurance
<br />Premiums shall he due If at any time the Borrower shall tender to
<br />the Leader. in "ordattout with the provisions of the note secured
<br />hrrel►y, full payment of the entire Indebtedness represented thereby.
<br />the Leader shall, In computing the amount of such indebtedness.
<br />credit to the aCCOUer of the Borrower any balance remaining in the
<br />furP& ikfiff"WiRd utnler the provnitrrts of (a) of paragraph 2 hereof.
<br />If there +hall he a default under any of the provisions of this
<br />aHruenrenr ftwhtng Ina PUNIC sale of the premises covered hereby.
<br />of if the lender acquires the property otherwise after defWA, the
<br />Lender shall apply, at the time of the commencement of svi;h
<br />proceedings, or at the time the property is otherwise se gVited, the
<br />balance then remaining in the funds accumulated undeS, #) of
<br />paragraph 2 preceding, as a credit against the amount el principal
<br />then remaining unpaid under said note.
<br />4. That the Borrower will pay ground rent`, taxis, assessments,
<br />water rates. and other governmental or munkipal< harges, fines, or
<br />impositions, for wkicb frr,+nxir4. her not been m*dg hereinbefore,
<br />and in default thereof Oe Leader may pay the so' M and that the
<br />Borrower will promptly deliver the official receipts therefor to the
<br />Lender.
<br />S. The Borrower will pay all taxes wbiltlt may bc•lhetiied upon thi
<br />Lertdet's interest in said we estate and improvements, and which -
<br />mav be levied upon this i orient ot"Pte debt scouted hereby (but
<br />only to the extent that S h is laxteon prctWhiYed by law and only to the . • '
<br />extent that. suaA? will not ke this taA�i' usurious), but excluding any
<br />income tax, State or Fedcaal, imposed on Lender. and,will file the
<br />official receipt showing such payment with the Lender. Upon
<br />violation of this undertaking, or if the Borrower is prohibited by any
<br />law now or hereafter existing from paying the whole or any portion
<br />of the aforesaid taxes, or upon the rendering of any court decree
<br />prohibiting the payment by the Borrower of any such taxes, or if
<br />such law or decree provides that any amount so paid by the
<br />Borrower shall be credited on the debt, the Lender shall have the
<br />right to give; ninety days',written notice to the owner of the premises,
<br />requiring the payment of t>fte debt. If such notice be given, the said
<br />detst shall become due, payable and col title at the expiration of
<br />said ninety days.
<br />6. That should the Borwwcr fail to pay any sum or keep any
<br />covenant provided for in c'Nis instrument. then the Lender, at its
<br />option. may pay or p rfo...• 2 w samp:.:Tid iii expeiw'iiui" so tR WC
<br />shall be added to the prifcipal sum owing on the said note, shall
<br />be secured hereby, and;shall.bear interest at the rate set forth in the
<br />said note, until paid:
<br />T. That tbe-SormweF hereby assigns, transfers and sets over to the
<br />Lender, to tie applied (award the payment of the note and all sums
<br />secured hereby in case of .a default. in the performance of any of the
<br />terms and conditions' of this instrument or the said 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 pow& 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 rent!;, revenues and income, and it may;pay out of said
<br />incomes all exper►ses of repairing said premises and necessary
<br />commissions and, expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom; the balance remaining, 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 bK the Lender against loss by fire and other hazards,
<br />casualties and contingencies in such amounts and for such periods as
<br />may be reyuirad by the Lender and will pay promptly, when due,
<br />any premiums on such insurance. provision for paym eat of which
<br />has not been made here:inbefore. All insurance shall be carried in
<br />companies approved by the Lender and the policies and renewals
<br />thereof shill be held by the Lender and have attact thereto loss
<br />Payable clstusea in favor of and in form acceptable to the Lender. In
<br />Page 2 or 5 HUD•92143DT.1
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