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<br />89- 184168
<br />amrwrerme 1AW" eotesm aM ttrgrite W feftwr, more than fifteen (lei days in arrears to cover the extra expense
<br />involved in handling delinquent payments.
<br />1. That Borrower will pay the irmdeixtilnen, as hercinbefore
<br />proviakd. Privikge is reserved to pay the debt in.whok or in part
<br />om any iaatallln= due date.
<br />2. Thu. together with. and in additioxs it). the monthly
<br />pa)a mss of principal and interest payable under the terms of the
<br />stole swured hereby, the Borrower will pay to the ktrider. on the
<br />first day of each month until the said rile is fully paid, the
<br />roifowrittg sum-
<br />(a) Atrtiraum sufricient to provide the holder hereof with funds
<br />to pay the newt mortilage insurance premium if this instn,nietir and
<br />the note secured hereby are insured. or a monthly charge fin titer
<br />of a atot4W inwrs&r premium) if they are held by the
<br />Secretary of Housing and Urban Development, as follows:
<br />(11 If and so long as said note of even date and this instru-
<br />ment are insured or are reinsured under the provisions of flit, Na-
<br />tional Housing Act. an amount sufficient to accumulate m thf
<br />hands of the holder one (i ) month prier to its due date the annual
<br />mortgage imuranec premium to or Jcr to provide sm:h holder with
<br />funds to pay su;h preinium to the Secretary of Housing and Ur-
<br />ban [Welopmeni purmwt to the .National Housing Aa. as
<br />amended, and appli,:abk kegulavt :�ns ibcreunder: or
<br />CBI If and so long as said pore of even dare and thie sn,tru-
<br />mou are held b) the Secrctary of Hou +ins and Lrban W%clop-
<br />nient. a monthly charge fire lieu of a utortgage arsararwe prendurn)
<br />which shall be in an amount equal to anc- twelfth t1, 121,+x. one -
<br />half (Ii2) per centum of the average outstanding balance due im
<br />the note computed without faltina into account delmquenciu•s or
<br />prepayments;
<br />(b) A sum equal to the ground rents, if any..rerv- Jue, pttt-, the
<br />premiums that will new bectivic due and pohoc, of
<br />fire and at her hazard insuran.:r :zr.>ert::;; tt:e (plus taxes
<br />and as,lmsgi ants next due on the r• 3 ; = ,:. :z�� e_%inuarcd ba t: -c
<br />Lendetl Less all sums alicadv paid t .'.,:9'lia' u;; -..".1 by the n'amber
<br />of months to elapse kfore one ll) mo:t :a t +-,rs trs tare date uhen
<br />such ground rents, prerniunis, taxes and :Al bccnrre
<br />delinquent. such sums to be held by 1 .nder in trust to pay said
<br />ground rents, premiums, taxes and 1pr.+:iat assessments; and
<br />(c) All payments mentioned in the loo preceding %uh,c.tlons• %;I
<br />this paragraph and all payments to< be made ur..:,;r the note
<br />secured hereby shall be added together. and t`tt ,Ngregatc amount
<br />thereof shat) be paid by the Borroacr ca.h pion :1 in a single pay•
<br />mcni :o he applied by the Lender sit else following here+ 111 the
<br />otdc; At Barth:
<br />t,{i premium chwges urklet the contract of In %tuatu c :vuh
<br />Seatiary of Ifcaotig -and Viban Development, or utuuthlx
<br />charge .1:*7) lieu of r :Ya Apgr rnuirW.We 11remuirn), as the rake may
<br />be;
<br />;f)) ground rents. taxes. nsties.m.ients, fire and other itaiard
<br />umstnaifee. premiums;
<br />fill) interest on the note oc;,arcd hcrebv;
<br />0-1.') amortisation of the pnt.ciral of .aid note; and
<br />4.Yir late charges.
<br />Any deficiency in the amount of such aggregate monthly pay-
<br />ment shall. unless made gtxht by the Borrower rrior to the due
<br />date of the next such payment. cdxtstltute an e^,= of default
<br />under this rnottgage. The Lender. t1tav collect a "late charge" not
<br />to exceed four cents (46) for rani. +loflar ($I) of each paytnert
<br />3- That if the total of the pa!nrients trade by the Smewer
<br />under (b) of paragraph 2 pr• ",riling snail exceed the amount of
<br />payments actually rnadc by the Lender for ground rents. , taxes and
<br />assessments or insurance premiums, as the Lase may be, sudi ex-
<br />cess. if the loaais current, at the option of the Borrower, shall be
<br />credited by the I.Oder on subsequent payments to be made by the
<br />f?torrower. or refutt".to the Borrower. If. however, the monthly
<br />payments mane by the Borrower under (b) of paragraph f.
<br />preceding shall not 64 sufficient to pay ground rents, ixNas and
<br />assessments or insitram'e prerniunts, as the case may be, When the
<br />same shall_ become •due and payable. then ifrR Atirio%�tr
<br />to the Lender any amount.necetisury to make up, the dcf ciericyi stn
<br />or before the date when payment. of surds ground nary: taxes,.. <.... "
<br />assessments. or insurance premiums shall hc . due. If at any tiruc;;'r"
<br />the Borrower shall lunder to the Lender, itcai'cordan:e with the
<br />provisions of the riled[: secured hereby, foil pacment of the entire
<br />indebtedness repn:vertted thereby, the [.ender shall, in computing
<br />the amount of such indebtedness. credit to the account of the Bor-
<br />rorct all payments made under the provisions of (a) of paragraph
<br />hereof which, the Lender has not tecame obligated to.jwy to the
<br />Secretary of Fatit;ing. and Urban i esekVittent and any balance re-
<br />nieinmg in iflr, iifndfi: accumiAated under the provisions of (b) of
<br />paragraph 2 hcicut, If there shall h a defrurll tinder any of the
<br />provisions of this imiruntent resulting in"a (uilslic sale of the
<br />premises covered hereby, or if: ;Ili t order acquires the property
<br />otherwisc after default, the Lcaiiler :-,hall appty;, at the time of the
<br />commencement of such proccedinp. or at the rime the property is
<br />otherwise acquired, the balance then rcnmair+iiag to the funds ac-
<br />cumulated under (b) of paragraph 2 prcicding. as a credit against
<br />the iuuouru of principal then remaining unpaid tinder said note,
<br />and shall properly adjust am patmcntc which shall have been
<br />mail+! -Vi .det (a) of paragraph 2.
<br />4. that the Ilorrimer ..ell p.ty ground rents, taxes, assessments,
<br />%ater rate,, ,ind other governmental or municipal charges, fines,
<br />or Impositions, lot which provoion has not been made
<br />herernbeforc. and in default thereot the Lender may pay the same;
<br />and that the llorrosser will prompth denser the off+Jal receipt,
<br />tticrelor to the 1 er.,olsr.
<br />5 fire Bosrrow2tr %ill pay all law% which ntay he Io 11:41 upon
<br />the 1m,1cr's intercm in said read estate and impro%ements, and
<br />%girl$, may he !cured upon this itsstrunicnt err the debt secured
<br />herceq ;iNut on;y .i�, the extent them such is not prohibited by I ;iw
<br />and only to the t41irpt that such will not marks this loan usurious),
<br />Ilia exJudmg't:,r_: nutline tax. State or 1 e'rfrtt :r %, imposed on
<br />I ender. and vdi ufic thc'o+lficral rcvcipt. ,F;i >fing such payment
<br />with the l coder. i.'twn viulatiiav ef'this uridettaking, nr it the
<br />Nrrrswcr n ruoh.oited by ant, 1i11e'no% or hereafter a -sming from
<br />praying the whole +3.3 any portion Of tke of d -,raid rases, or upon
<br />the rendering of tit,; court decree prohiLxur.-ig the payment by the
<br />lr„rroaer of any ,such tames. or if such law or decree prosides that
<br />any :inuunt so paid by the Borrower shall be credited on the debt,
<br />rile 1 ender shall have the right, ro:pte ninety dj)s' %tittcn notice
<br />to the owner of the'premrscs, ncq siring the payment of rh. debt
<br />If such notice be ,g vcn, the said debt shall trcao ine dice, payable
<br />mud collectible ,.i the cxprration of said -itwty days.
<br />A. That Should the ffotrerx :r f.rsl to)pety any stint or {,rep any
<br />cowitunt provided for in this immnatent. then the I ender, :I: its
<br />opuew . may pat' o• perform the., iame, a4-af; eolsertdlturo o
<br />pope 2 4f fe � MW >l21430T
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