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(11? ground rents, taxes. assessments. fire ,rvd other haMM
<br />insurance premiums.''
<br />(111) interest ,i i be mute worcd hcmhy:
<br />(iV) amortita'tion of the p; :: 7 sl (if said note; .trid
<br />(V) late 4;hargty
<br />Any deficiency tit iN, amount of such t,.anthly pay-
<br />ment shall, unless made goof by ihv Mmov+rr la x a it) the due
<br />date of the next such paytnctn. cr7ltsdx:sy.a,)ii },7ti13! of default
<br />under this mortgage. The Lender nia.t, .i:Jltest .z. "fate charge" not
<br />to exceed four cents (0C1 for each dodoes[ 1`rfit+,R cash payniew
<br />t;te :rlering of any court decree prohibiting the payment by the
<br />tkrrp:•mts of any such tries, or if such law or decree pros illn that
<br />any ar„UUnt so paid by the ikirrower shall be credited on a:i`tr •_'eb1.
<br />the i ender shall hate the tight to gue ninety days vsntten :notice
<br />io the ironer tit the prwiwcs. requiring the payment of the debt.
<br />It such notice lrc given, the said debt shall becortie dote, payable
<br />and collroihle at the expuation of said ninety days.
<br />h. k'hx' should the Borrower fa:: to pay any suit) or kqp iu,q
<br />co%cnatit protided for in this instrument, then the Lender: a its
<br />vipti+in, may pay or perform the same, and a7 ;v%,pcndiiures so
<br />Page.�W151+ s HUD- 9219307
<br />U
<br />_:- . -- - -- — •dodo
<br />104381 _-
<br />39
<br />Iorrrswer "d Leerier rnwem of and arm at fowmi:
<br />more than fifteen (13) days in arrears to cover the extra expense
<br />involved in handling delinquent payments.
<br />1. That Borrower will pay the indebtedness, as hcreinb; fore
<br />provided. Privilege is resetwed to pay the debt in whole or in part
<br />3. That if the total of the payments made by the Borrower
<br />on any installment due date.
<br />under (b) of paragraph 2 preceding shall taQefd -the arnoant of
<br />payments aou4y. m* by -the ,L=da * t ground rents, taxes and _
<br />2. That, together with, and in addition tit, the writhty
<br />es or insurance pretftkalt all the ease, may be, such ex-
<br />assessmnt
<br />psynents of principal and interest payable under the terms of the
<br />cess. if the loan iR current, at the option of. thtr Uoirower, shag be
<br />note secured hereby, the Borrower will pay to the Lender, on the
<br />credited by the Lender on subuqueat pa)mmts to be ma8r._by the
<br />first day of tech month until the said note is fully paid, the
<br />Borrower, or refunded to the Oom)%�t- If. however. the mgt►thly
<br />following stuns:
<br />payments made by the Borrower under (b) of paragraph 2
<br />(a) Amount sufficient to provide the holder hereof with funds
<br />preceding shall not be sttffcieni to pay ground rents. tare# and
<br />assessments or insurance prct►tiums, as the case may be, the'
<br />to pay the tteta•rnortgtye insurance premium if this instrument and
<br />sane shall become due and payable, then the Borrower ahalt'poy.
<br />the note secured hereby are insured. or a moothly charge (in lieu
<br />to the Lender any amount ncsary to make up the deficiency, on
<br />of a rerartgade insurance premium) if they are held by the
<br />or before the date when payment of such ground raus. taxes.
<br />Secretary of Housing and Urban Development. as follows:
<br />assessments, or insurance premium: shall be due, if at any time
<br />' (1) If and so long as said note of even date and this instru-
<br />the Borrower shall tender to the Ladder, in accordance with the
<br />ment are insured or are reinsured under the provisions of the Na-
<br />provisions of the note secured hereby, full payfnent of the entire .; •
<br />tionat Housing Act, an amount sufficient to accumulate in the
<br />indebtedness represented thereby. the Leader shat iJ a computing
<br />hands of the holder one (1) month prior to its due date the annual
<br />the amburit of such indebtedness, credit to the 2"M ofd cry. :• :' -
<br />mortgage insurance premium in order to provide such holder with
<br />roweal'srlJ"{laymentt, made under the provisions of (a) of IMw., {iii ;
<br />funds to pay such premium to the Sccrctary of Housing and 1Jr-
<br />2 her63t.-rhich the Lender has not become obligated to pay trr:the ,
<br />ban Development pursuant to the (National Housing Act, as
<br />Secretary of !-louring an& Urban Development and any balance, re- .,
<br />amended. and applicable Regulations, thereunder: or
<br />maining in the funds, ae.umulatted under the provisions of (b) of
<br />(111 If and so tong as said note of even date and this irate, r
<br />paragraph 2 hcreaf•..If. there, slialbbe a default under any of the
<br />protviiiont. of rhir. inftrtimintt resulting in a public sale of the .
<br />ment are head by the Secretary of Housing and Oban Develop-
<br />< <
<br />prrm►i.gi. covered hereby, or if �thr Lender acquires the proGc�ry;
<br />mint. a monthly charge (in lieu of a marigage irilur,.;n.r preruiunt)
<br />othenvire lifter default, the Lender shall apply, at the time cF *e
<br />which shall be in an amount equal to one twelfth 41/121 of ,rite-
<br />commencement. of such proceedings, or at the time the property is
<br />half (1/2) per centum of the average outstanding ttalanfe due on
<br />whersvise acquired, the balance then remaining its the funds ac. ,
<br />the mote computed without taking into accaum di:Wtquencies of •
<br />cumultited under (b) of paragraph 2 preceding, as a credit tf.;4nt `
<br />prepayments; t
<br />'1hr tiiti4iint of principal then retraining unpyid under :said date, . <.
<br />(b), A sum gquat to 1ft� groun4 rents. if anp. arwt due. plus the.
<br />;-ianit s44, -property adjust any payments which shall have Nun `
<br />premiums that will neat b,, omv di'Wiuid.payable on tttrlivies tit
<br />mndc'+p *. (a) of paragraph 2.
<br />fire and other hazard insurance Lovesmig.ihe properiv, plus tams
<br />i
<br />and as,essments next due or, the prot;,:a:y tall as estimated 1+r flit .
<br />4. %'t`;iz_,rhe Mrrower will pay ground rents, taxeti, assessments.
<br />Lender) less all sums already paid therefor disided by the number
<br />ssat'd ::; ��, and n,h: goven)menial or municipal charges. Gies,
<br />of months to elapse before one 11) mono prior W, the date when
<br />ar imix - :N ens, for utuch provision has not been made
<br />such ground rents, premiums, taxes attct asst trt.cTscs µill become
<br />hcreintrcfore, and in default thereof the Lender may pay the samc.
<br />delinquent. Such sums to be held by LYX.,,,r in irttsGtty pay Maid
<br />and that the Borrower will promptly deliver the official rct;eipis
<br />ground rents, premiums, taxes and 5 *r i;l: itseessntents: alld
<br />therefor to the Lender.
<br />(c) All payments mentioned in the t1kr prcced;s,F "�ubsectium of
<br />c }i,,c Borrower will pay all taxes which may be levied upon
<br />This paragraph and all payTncntc to be made tinder Ole note
<br />,F. interest in said real estate and improvements, i- ;,S
<br />sec-uted hereby shall be added togeilter•..and the aggregate amount
<br />thereof shall be paid by the florrouct{ Mach month in a single t ah
<br />.: vtn., !ay be leveed apace this instrument or the debt scctt:rt+tA'
<br />zr,K {s {Nut Wily ter die extent that such is not prohibited by law
<br />ment to be applied by the Lender fa tare following penis sit 111%;
<br />a :, ;.} ._,y to the cxteat that such will not make trurta loan usurious), '
<br />- order set forth:
<br />b+ :'r: ::sting any income tax, State or I.cdcral, imposed on
<br />pit) premium charges under the contracu of mstuaiwe with
<br />Lva%'►as., and will file the official receipt slwwing such paycvaA;,F,-.
<br />the Secretary of Housing and Urban Doclopment, or monthly
<br />w':t 01.- 1- ender. upon violation of this tinderi4ing. Ear ii• •dh:
<br />charge (in lieu of mortgage rnsutitwe prerutund. as the case rtrag
<br />is prohibited by any taw now or hereafter "misting from
<br />be;
<br />whole or any portion of the aforesaid taxes, or upon
<br />(11? ground rents, taxes. assessments. fire ,rvd other haMM
<br />insurance premiums.''
<br />(111) interest ,i i be mute worcd hcmhy:
<br />(iV) amortita'tion of the p; :: 7 sl (if said note; .trid
<br />(V) late 4;hargty
<br />Any deficiency tit iN, amount of such t,.anthly pay-
<br />ment shall, unless made goof by ihv Mmov+rr la x a it) the due
<br />date of the next such paytnctn. cr7ltsdx:sy.a,)ii },7ti13! of default
<br />under this mortgage. The Lender nia.t, .i:Jltest .z. "fate charge" not
<br />to exceed four cents (0C1 for each dodoes[ 1`rfit+,R cash payniew
<br />t;te :rlering of any court decree prohibiting the payment by the
<br />tkrrp:•mts of any such tries, or if such law or decree pros illn that
<br />any ar„UUnt so paid by the ikirrower shall be credited on a:i`tr •_'eb1.
<br />the i ender shall hate the tight to gue ninety days vsntten :notice
<br />io the ironer tit the prwiwcs. requiring the payment of the debt.
<br />It such notice lrc given, the said debt shall becortie dote, payable
<br />and collroihle at the expuation of said ninety days.
<br />h. k'hx' should the Borrower fa:: to pay any suit) or kqp iu,q
<br />co%cnatit protided for in this instrument, then the Lender: a its
<br />vipti+in, may pay or perform the same, and a7 ;v%,pcndiiures so
<br />Page.�W151+ s HUD- 9219307
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