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<br />lenmw rawd Il,eabtr cove ...t alai afore ,r Etas"$:
<br />1. That Borrower will pay the indebtedness, as herein Wine,
<br />prmided. Ptit ilew is reserved to pay the debt in #tole .�r irr,)3 r
<br />on any instaHment due date.
<br />2. 7Mt. together with, and in addi(foa wL the mewliflt
<br />payments of pritacipal aaW interest yaatable up4er the torts .e €. the
<br />note secured hereby, thef$orrottrer• will Fay i.3 Ma tender, on the'
<br />first day of each month until the said note ►a `fully raid. ilte
<br />fdbwiag sums.
<br />(a)
<br />Amount sufficient to provide the 3 rider: hereof with: Wrttf'.5'
<br />to pay the rust ruortlage insurance Premium. it' 111W insirutrictir and
<br />the note secured hereby are insured, er a ntatttlttg ch1r;)r tin lieu
<br />of s m orrSW insurancv prerniumt if thtr era ltKkt by tilt
<br />Secretary of Housing acted Urban ikv"eltsptrsam, pit f•,,Uows: '
<br />(1) If and so long *as said taste• of evert drum and. ibli. iirimur
<br />meet are insured or aftr:•rnnsured under the pira+i 64!gt pf fie M;r
<br />tiotfal Housing Ala.. am ;p?rounr suificicnt ru ac.Uffttfl a fif;,i . ;:.
<br />hands of the holder um"�litl?raonth.4wlc.: to its diie-daw t alfnw
<br />miongalle insurance:pmrmliM. Iff :'t5rs i ota provide such holdcg
<br />funds to pay such pier dUM�le firs is*iretary of Housittg ar :-f b ,
<br />ban Development put$ag Housing Act, as
<br />amended, and appl ::r � i�4uta[ionft; thereunder: or
<br />(11) If and w'l*e is said mote of cten date and this instrli_
<br />merit are hdd bt' the 5egetar; of Housing and Urban Dc%clvi5
<br />anent. it •,r.,ectthlN charge (in lieu of a morngage utmrance
<br />:re err an 1tx ouEgt ea)ual to otte•Iwelfth C1,12) of 0:7i:_ '
<br />per cMt!.`f 6f''hC average 41utstardinf ;.411ance due or.
<br />file no'w %;Ofttpt►tcd "- 44,bwlt taking into acxonr•t t af5t1{ucnties or
<br />prepagrnrnrs; ,
<br />(b) 11 !v. -ens equal to the ground rymas. if any, next Aue. plus t:t
<br />premiumx at will nevi ticwn-te dti ttYFN ra"Mc. on potwics o
<br />fire and other hazard tnsurancc lave,
<br />and assessments next due t +;t the properey b► the
<br />(ender) less all --unit already paid therefor do. i4ke ' h) the number
<br />of months to claps: before one I t) month prior to the Late v hen
<br />such ground cants, prcimums, taxc, atA a- sessmenis wilt ht -c+•ct
<br />delinquent, such suns to t►e held !-+) :,ender in trust to pay tier
<br />ground rents., prcntiums, tales and stv:tal aswo-ment,, and
<br />(c) All payments mentioned in the two prc:Oing rttbscaotit of
<br />tins t+atagraph and all payments r:> tx made ender the note
<br />secured herby shall be added yore.' ;tiCr, and the
<br />thereof ilk +'j be paid by the 1)orfcY*r, aa,h month to a stn f.,r: , ^, °•a:;
<br />merit to be applied by the I cider to thr follov -utg lien„ ill site`
<br />order set forth:
<br />' (1) premium charges under the wutra,t ++f rttturan ;r
<br />the Sevietaty of "outing and t'th,to M.W[opmrnt. Or III utlt° .
<br />t:harge fin lieu of meng. ge insimince premium.►, as the cz.-e eta)
<br />be;
<br />111) ground rtri' <'. 'caaes, asccstmenrt, f :;0, c, »d oftr,haratd
<br />insurance premiums;
<br />(llf) interest on the note s::urcJ herehs.,
<br />tIL ") attse•rtitsttt;z• of the prinovaf of tatd ^tr,; and
<br />It') late charf;w
<br />89-104313
<br />more than fifteen (IS) days in arrears to cover the extra expettse
<br />involved in handling delinquent payments.
<br />J. That if the total of the payments made by the Borrower
<br />under (b) of paragraph 2 preceding shall exceed the amount of
<br />paytnews actually trade by the Lender for ground rents, taxies and
<br />a tscs< nets or insurance premiums, as the case may be. such ex-
<br />c if tilt ban is ctt:rettt. at the option of the Borrower. shall be
<br />tr +zs3it{a1 =bt =, the Lender on subsequent payments to be made by the
<br />8it04we .,' or refunded to the Borrower. If, however, the monthly
<br />payments made by the Borrower under (b) of paragraph 2
<br />preceding shall not be sufficient to pay ground rents. taxes and
<br />assessments or insurance premiums, as the case may be. when the
<br />same shall become due and payable. then the Blorrovver shall pay
<br />to the Leader any amount necessary to mate up the deficiency. on
<br />or before the date when payment of such grottrrd rents, taxes,
<br />assessments, or insurance premiums shall be due. If at any time
<br />the Borrower shali tender to the Lender, in accordance with the
<br />prmasirsas of the note secured hereby. NIS payincirt of the emcee
<br />irideN, s represented thereby. the Lender shall, in computing
<br />tS a u'x of such indebtedness, credit to the account of the Bor-
<br />rita'c �T,i :Paymcnts trade under the provisions of (a) of paragraph
<br />the Lender has not become obligated to pay to the
<br />Sc'O.tw -i ref Housing and Urban Development and any balance re-
<br />MCI arM in the fund; acatmulated under the provisions of tb) of
<br />parnccaph 2 hereof. If there shall be a default under an) of the
<br />provisions of the, instrument resulting in a public sate of the
<br />premises coteret) hereby, of if the Lender a:i)L + +!es the property
<br />otherwise after default, the Lender shall apg : +3, :fit. ;(he time of the
<br />corps moatrent of such proceedings. or at the ^:rp_- the property is
<br />ci : °,rnntva at.juircd. the halan.c their remainizg,m. :1w t'�t _rr ac-
<br />t: -4, under I li) of paragrap :� 2 precedmo,',as. G 'c_'*�ct n.� ainst
<br />tf C' : ;^.!l :itr ,►t €nA : y +ak then remaining unp•:tir .Qpaq''t
<br />and sl;,fll prol�ri!,. ?use any payments suns :tr.sttaif have been
<br />mate •under iu) oV 'ruragraph 2.
<br />4. Mat the No:rot-rr gill pay ground rents., tares. assessmems,
<br />stater rate., and other governmental or mupicipat charges. fines,
<br />or unposuions, for tthtcli prottsion has not been made
<br />hcrernhefore, aria c.o ,Sefault thereof the lender eta) pay the same;
<br />and that th, Ito ;row r -till prom,'I► dclittrr the offi;ial receipt,
<br />there.;: u, to the I alder.
<br />1f1, iiortoaer stilt pay all caves. --lush may be lentil upon
<br />the ImMer's iotoe!f- in taut real estate ,trod improvcnicnts, and
<br />vthtea may he 14a.tid apQn this instrument or the debt secured
<br />hereby (but onto t:: : :re extent that such 1s nit: ;1 n!!tb "ed (t5 lave
<br />.vud wnty to the c+ttent that sucL —%ill not make
<br />hit ctauding any rncuutc tax. Sz.ite or Icdoal. ;,s,
<br />I entter, and -till file the otfioat receipt shovtirq y.r; . payment
<br />lath the Lender ( -pun tioiauon of this urtf.+ :u,4,mj, or it the
<br />Wirouer t +prohfhitctf by any iavv tiros of cxTvntcr exWing from
<br />whole or an) the aforesaid tares, it upon
<br />f:x f mk9e'ririg of arty court del ma- grohibiting the payinct•.,jny the
<br />fie- frt,nfer of art) such talcs.:;; .!. such latt or decree prov:•4r_•s that
<br />any antr,u11t so ra:.I t-y flit: I;,` reI shall he :rednrd on the debt,
<br />the I cider shall the right .r, ifnc omwfs Jays' written nofite
<br />to fl:e u-tncr of the pictmsct, fc: • c'rtna fhr , +ayment of the debt
<br />i t , - gat, mace be Etter. the sac•:• dvfta•.thall betonte due. ra ia!lle
<br />.ice: ;:;,LiFtBtihle at the expiation of said ninety (lays,
<br />ii
<br />Her r,:
<br />Any 4k,66erwy in the amount of suit aggregate monthly pay- 6. -that should the Ilorro%%or fail to pa) any sum or keep any
<br />merit si;rili unless made good by the Inc +ti +over r:utr to the d ;w cotenant provided for in this instrument, then the I ender, at nt
<br />date of ate next ouch payment. constitute art event of default
<br />under this monpage. T'fe Lender may collet a ")ate charge" riot opt. ^,,n, mac pay u` perform the taste, and all rxpendtr e, sue
<br />to exceed• four delfts (44) for each dollar 131) of cash payment
<br />�. Page 2 of S HUO -fYit ayly'p
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