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<br />Page 2 of 5 HUD- 921490T.1
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<br />narrower and Lender cavrnanl and agree a% follows:
<br />R
<br />1. Thai
<br />or tf the Lender atvlutrc% the proper
<br />Lender shall apply, at the time of th
<br />ierv+ise after default. the
<br />Borrower will PAY the endlehtednexs, rs hrntinbeftxc
<br />larivilw
<br />piod.�oetlings, W at the time the
<br />nmetwmenl of such
<br />pra'l,141109. is rr±ened to pay the tkbt in whole or in put on
<br />any installment due date
<br />prop
<br />balance then remaining in the funds
<br />s otherwise acquired, the
<br />mutated under I of
<br />(a)
<br />2. That. together
<br />ogether witA, and in addltrem to, the munthty payments
<br />paragraph 2 preceding, as a credit ar
<br />then remaining unpaid under said a
<br />1 the amount of principal
<br />of prtttcipal and inkWN payable under the terms of the now secured
<br />hereby, the Borrower will pay to the Letnler, on the Drat day of each
<br />d. That the Borrower will pay grc
<br />rents, taxes, assessment!;
<br />month until the said note is fully gist, the ft�llowing sums:
<br />water rates, and other governmental
<br />impcxi O&% for which provision has
<br />unicipa! charges, 6rres, or
<br />(a) A sum equal to the ground rent%. if M any. next due, us the
<br />and in default thereof the Lender nu
<br />Borrower will promptly deliver the
<br />xen made hereinbefore,
<br />r the same, and that the
<br />p reatiurrr: riot will next become due and navabfe dm noliriea of fire
<br />a
<br />lender.
<br />it receipts therefor to the
<br />and other hazard insurance covering the property, plus taxes and
<br />AnEaments next due on the property (atlas rstiNwW by rjW Lender)
<br />IM OR ms Paid the or divided by the number of months
<br />5. The Borrower will pay all taxes
<br />Lender's interest in
<br />;h may be levied upon the
<br />elagge ortey h prior to the date when such ground
<br />rents, premiums, taxes and assessments will become deliquent,
<br />said real estate ar
<br />may be levied upon this instrument c
<br />proveme11ts, and which
<br />debt secured hereby (but
<br />such
<br />sums to be held by Lender in trust to pay said ground rents,
<br />only to the extent that such is not pn
<br />extent that such will not make this la
<br />ed by law and only to the
<br />Premiums, taxes and special assessments; and
<br />int�rrtte tax, State or Federal. impose
<br />111WMl
<br />uriou%!, but excluding any
<br />Lender, and will file the
<br />(b) All Payments- mentioned in the preceding subsection of this
<br />receipt s
<br />pt howing such paymen
<br />r the Lender. Upon
<br />Paragraph and all payments to he made under the note secured
<br />hereby shall be added together, and the aggregate amount thereof
<br />violation of this undertaking. or if tlw
<br />law now or hereafter exbcting from F
<br />rower is prohibited by any
<br />the whole or any portion
<br />shall be paid by the 8mrower each month in a single payment to he
<br />applied by the Lender to the idlowing items in the order set forth:
<br />of the afoesaid taxes, or upon the red
<br />Prohibiting the payment by the Borro
<br />tg of any court decree
<br />A any such taxes, or if
<br />(1) ground reef$. taxes, assessments, fire and other hazard incur.
<br />such law or decree provides that any
<br />Borrower shall be credited on the deb
<br />1111 so paidd, by the
<br />, Lender shall have the
<br />aace premiamn;
<br />right to give ninety days' written notii
<br />the owner of the premises,
<br />(11) intcrcvt.cm the ncui:: wcured hereby;
<br />y
<br />requiring; the payment of the debt. If!
<br />debt shau become due, payable and c
<br />notice be given, the said
<br />ible at the expiration of
<br />(111) araoretixr,ian Of the principal of said note, and
<br />said entry clays.
<br />(IV) late charges.
<br />6 7 hAt ssauld. the Swower fail to
<br />my sum or keep any
<br />Any defioetn,'y in the amount of such aggregate monthly payment
<br />Covenant provided for in this instrume
<br />ten the Leader, at its
<br />shall, unless made good by the Borrower prior to the due date of the
<br />Ri— wirwti c an event default
<br />optic may pay or perform the same,
<br />c air �+.._ .,r �a F psi---
<br />Sum vn
<br />all expenditures so made
<br />On
<br />Of unwr this
<br />mortgage. The tender may CIAICCt a "late charge" not to exceed four
<br />P11111
<br />be secured hereby, and shall bear inter
<br />the said Rote, 3W,
<br />t the rate set forth in the
<br />ants tot) for ev.*'dollar (S 1) of each payment more than fifteen
<br />said note, until paid.
<br />(I S) days in mean to ce,c. Cr the extra expense involved 111 handling
<br />7 TbW the Borrower Irby --+k
<br />[.Crider, try be applied toward the payrl
<br />i,,gcrs and sit% over rrn else
<br />A the note and all sutras
<br />3. That if the total of the payments Mack by the Borrower under
<br />cured hereby in case of a default in t
<br />rformanoe of any of the
<br />(a) of paragraph 2 preceding shall exceed the amount of payments
<br />ten's and conditions qCthis. instrumen
<br />he said nt20— All the rents.
<br />actually made by the Lender for ground tmtt%. taxes and assessment)
<br />revenues and income to be derived fro
<br />: said premises during
<br />of insurance premiums. as the case may tie, such excess. if the loan Is;
<br />current. at the option of the Borrower, shall be credited by the
<br />such time as the indebl'odtress shall ren
<br />shall have power to appoint any agent
<br />unpaid, and the Lend$ee
<br />vents it may desire for the
<br />Lender on subsequent payments to be made by the Borrower, or
<br />Purpose of repairing said premises and
<br />filing the saute and
<br />refunded to the Borrower. If, however. 17 iemonthly payments made
<br />collecting the rests, revenues and incur
<br />id it mayl•gpty out of said
<br />by the Borrower under (a) Of paragrapb 2 preceding shall not be
<br />incomes all expenses tai repairing said I
<br />ses atrd'eimmary
<br />sufficient to pay ground rextcx, taxes and assessments or insurance
<br />commissions and crl Vw4! s incurred in
<br />19 and managing the
<br />Premiums, as the case MAY be, when the same shall became due and
<br />same and of colicctim cetttals therefror
<br />; balance remaining, if ..
<br />payable, then the Borrower shall pay to the Lender any amount
<br />any, to be Appwd to-ovid the discharge
<br />rid indebtedness.
<br />nccesatry to make up the deficiency, of or before the date when
<br />payment of such ground rent.. razes, assessments, or insurance
<br />g. That the Borrower will keep the i1
<br />vements now existing or
<br />Premiums shelf be due. If at any time the Borrower shall tender u'
<br />hereafter erected on the property, insua
<br />r
<br />may be required from
<br />the l cu_ler, in Accordance with the provisions of the note secured
<br />time
<br />me to time by the Lender against foss
<br />'e and other hds,.
<br />uu
<br />hereby, full payment of the entire indebtedness represented thereby,
<br />casualties and contingencies in such am
<br />i and for such perkxb as
<br />the Lender shall, in computing the amount of such indebtedness,
<br />may be required by the Lender and will
<br />promptly, when due,
<br />credit to the account of the Borrower any balance remaining in the
<br />funds accumulated under the provisions of (a) of paragraph 2 hereof.
<br />any premiums on such insurance, provi
<br />has not been made hereinbefore. All ins
<br />for payrtrWC of which
<br />a shall be carried in
<br />If there shall be a default under any of the previsions of thn
<br />companies approved by the Lender and
<br />Wick* and renewals
<br />instrument resulting in a public sale of the premises co%cred bereb�,
<br />thereof shall be held by the Lender and
<br />Payable clauses to favor in
<br />attached thereto loss
<br />of and form
<br />liable to the Lender. In
<br />Page 2 of 5 HUD- 921490T.1
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