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(a) A sum equal to the ground rents, if any, next due, plus the pentiums that will next becom4 due and payale on
<br />next due on the property fart
<br />policies of fire and other hazard insurance covering the property, plus taxe. ;11,41 assessments
<br />by the Lender) less Lill sums already paid therefor divided by the number of months to elapse before one (1)
<br />(is e,stitmueted
<br />month prior to the date when such ground rents, premiums. taxes and assessments will become delinquent, such sums um
<br />taxes and special assessments; and
<br />be held by Lender in trust to pay said ground rots. premiums,
<br />(b) All payments mentioned in the preceding subsection of this paragraph and all payments it.) be made under the note
<br />the aggregate amount thereof shalt be paid by the Borrower each month in a
<br />secured hereby shall be added together, and
<br />single payment to be applied by the Lender to the following items in the order set forth:.
<br />(1) ground rents, taxes, assessments, fire and other hazard insurance, premiums.
<br />(11) interest on the note secured hereby; and
<br />(111) amortization of the principal of said note.
<br />Any deficiency in, dur amount of such aggregate monthly payment shall, unless trtzzde good by th© Borrower prior to
<br />default under this mottgag. The Lender may collect a "late
<br />the due date of the next such payment, constitute an event of
<br />four cents (•fie) fins each dollar ($1) of each payment more than fiRec'n (15) days in arrears to cover
<br />charge" not to exceed
<br />the extra expense involved in handli,tft delinquent payments.
<br />3. That if the total of the payments ttt3,de kv the Borrower under (a) of paragraph 2 preceding shall exceed the amount
<br />of payments actually made by die l eml err for �. t -%und rents, taxes and assessments or insurance premiums, as the case may
<br />if loan is current, st tote taPtion of the Borrower, shall be credited by the Lender on subsequent payments
<br />be, such excess, the
<br />to be made by, the Borrower, or refunded to the Burrower. if, however, the monthly payments made by the Borrower under
<br />as
<br />(a) of paragraph 2 precv- d,:ng shall not be sufficient to pay ground rents, taxes and assessments or insurance premiums,
<br />the become due and payable, then the Borrower shall pay to the Lender any amount necessary
<br />the case may be, when same shall
<br />to make up the deficiency, on or before the date when payment of such ground rents, taxes, assessments, or insurance premiums
<br />with the provisions of the note secured
<br />shall be due. If at any time the Borrower shall tender to the Lender. in accordance
<br />hereby, full of the entire indebtedness represented thereby, the Lender shall, in camputing the amount: of such in-
<br />payment
<br />debtedness, credit to the account of the Borrower any balance remaining in the funds azcumulated -under the pTetvisions of
<br />of this instrument resulting in a public sale
<br />(a) of paragraph 2 hereof. If there shall be a default under any of the provisions
<br />if the Lender acquires the property otherwise after default, the Lender shsl[ apply, at
<br />of the pr•etaises covered hereby, or
<br />of the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then re-
<br />the time
<br />maining in the funds accumulated under (a) of paragrdp{r 2 preceding. as a credit sgaitut the ?mnnnt of principal then remain-
<br />ing unpaid under said note.
<br />4. That the Borrower will pay ground rents, taxes, assessments, water rates, and other governmental or municipal charges,
<br />and in default thereof the Lender may pay the
<br />fines, or impositions, for which provision has not been made hereinbefore,
<br />same: and that the Borrower will promptly deliver the official receipts therefor to the Lender.
<br />_
<br />5. Tha Borrower will pay all taxes which may be levied upon the Lender's interest in said real estate and improvements,
<br />hereby (but only tp.the extent that such is not prohibited
<br />and which may be levied upon this instrument or the debt secured
<br />by law and only to the extent that such will not make this loan usurious). but excluding any income tax, Stare pr Federal,
<br />imposed on Lender, and will file the official receipt showing such payment with the Lender. Upon violation of this undertak-
<br />the whole or a»y portion of the aforesaid
<br />ing, or if the Borrower is prohibited by any law now or hereafter existing from paying
<br />of any court decree prohibiting the payment by the Borrower of any such taxes, or is such law
<br />taxes, or upon the rendering
<br />or decree provides that any amount so paid by the Borrower shall be credited on the debt, the Lender shall have the right .
<br />the debt: If such notice be given,
<br />to give ninety days' written notice to the owner of the premises. requiring the payment of
<br />the said debt shall become due, payable and collectible at the expriation of said ninety days.
<br />6. That should the Borrower fail to pay any sum or keep any covenant provided for in this instrument, theft the Lender,
<br />be added to the principal sum owing on the
<br />at its option, niay pay;'or perform the same, and all expenditures so made shall
<br />above note, shall be 4 -eoured hereby, and shall bear interest at the rate set forth in the said note. until paid.
<br />7. That the Borrower hereby assigns, transfers and sets aver to the Lender, to be applied toward the payment of the
<br />of any of the terms and conditions of this instrument
<br />note and all sums secured hereby itr.ase of a default in the performance
<br />rever::es and income to be derived from the said premises during such time as the i>aQebtedness
<br />or the said note, all the rents,
<br />shall remain unpaid. and the Lender shall have power to appoint any agent or agents it may desire for the purpose of repairing
<br />said premises and of renting the same and coll ecting the rents, revenues and income, and it may pay out of said incomes
<br />necessary commissions and expenses incurred renting and managing the same
<br />all expenses of repairing said premises and
<br />and of oAccting rentals therefoo xn-. the balance remaining, if any, to be applied toward the discharge of said indebtedness.
<br />S. That the Borrower will keep the improvements now existing or hereafter erected on the property. insured as may
<br />Lender loss by fire and other hazards, casualties and contingencies in such
<br />be required from time to time by the against
<br />amounts and for such periods as may be required by the Lender and will pay promptly, when due, any premiums on such
<br />insurance provision for payment of which has not been made hereinbefore. All insurance shall be carried in companies ap-
<br />be held by the Lender and have attached thereto loss payable
<br />proved by the Lender and the policies and rertt:.wals thereof shall
<br />in favor of and in form acceptable to the Lender. in event of loss Borrower will gibe tc ~r_:.fiate notice by mail to
<br />clauses
<br />the L.ender,who may make proof of loss if not made promptly by Borrower, and each insurance come- -at1r concerned is hereby
<br />authorized and directed to make: payment for such loss directly to the Lender instead of to the Borro«zr and the Lender
<br />by Lender at its option either to the reduction
<br />A
<br />)clergy, and the insurance proceeds. or any part thereof, may be applied the
<br />to the restoration or repair of the property damaged. In event of foreclosure of this
<br />4
<br />of the indebtedness hereby secured or
<br />tnsirurnent or tither transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right.
<br />Co
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<br />title and interest of the Borrower to and to any insurance policies then to farce shall ,pass to the purchaser or granter
<br />n.
<br />y that as ailditt-mal and Loilalctal curtly I(ir the payment 44 the note descr+hcd. and .dl su +ns to ht-come tluc under
<br />rights hcncftts .1..11111111 a)
<br />tills uts+rument the limrmxct hereby a-Igns to the i .ndcr .dl pnrltts, rctienues. .end
<br />the• Iir,trnl.er undo anti and fit '.11 .md gw, Nh the ri.vht t.- leectst• and receipt for the -.111;, .u1d
<br />t rni,. HUD-92143-DT (4(!v .' Nit J.1 F1
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