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<br />1. That Borrower will pay the indebtedness. as hercinbefore
<br />provided. Privilege is reserved to pay the debt in whale or in part mi
<br />any installment due date.
<br />2. That, together with, and in addition to, the monthly payments
<br />of principal and interest payable under the terms of the note secured
<br />hereby. the Borrower wttl pay to the Lender. on the first day of cx +
<br />month unfit the said We is fully paid. the following sums:
<br />(a) A suet equat to the ground rent,, if any, next due. plus tee
<br />premittnas that will next become due and payable on policies of f re
<br />and order iazard insurance covering the property, plus taxes and
<br />meessn. r - m next due on the property (off as esn m nk d btr the Lender/
<br />-- .Its all sushi already paid therefor divided by the number of mttrttts
<br />to eiapae before one (1) month prior to the date wbea such ground
<br />rents, premiums, taxes and assessments will become deliquent, such
<br />sums to be held by Lender in trust to pay said ground rents.
<br />.premium axes and speciat assessments; and
<br />(b) All payments mentioned in the 6r=ding subsection of this
<br />paragraphand all payments to be made raider the note secured
<br />be ebyshaA be added together, and tU a)gregate amount thereof
<br />-bait be ptl-[t, by the Borrower each nzendt in a single Payment to be
<br />applied by" the !.ender to the follow' i'trass in the order set forflt:
<br />(1) ground rents. axes, assessment., fire and other hazard insur-
<br />ance premiums;
<br />(11) interest on the note secured h }r:
<br />(111) amortisation qi )3licprincipat ofsaid note; anti
<br />Any 047Ai ency in the amount o €s r.iggregate monthly paynimm
<br />-lot), us go made good by the Bondwiur trrior to the due date of the
<br />Next such payment. constitute an ever: -rf default under this
<br />Mortgage. The tender may collect a �,. charge" not to exceed four
<br />ants (4t). for each dollar (S I) of eadi, Flt} ment more than fifteen
<br />(15) days'in arrears to cover the extr ;upense involved in handling
<br />delinquent payments.
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<br />3. That if the total of the payments made by the Borrower under
<br />(a) of para13raph 2 preceding shall exceed the amount of payments
<br />actual; j.,rmdc by the Lender for grov.itid rants. taxes and assessments
<br />or ins% :•mote premiums, as the case hazy be, such excess, if the loun is
<br />current, at the option of the Borrower, 'dull be credited by the
<br />Lender on subsequent payment% to be made by the Borrower, or
<br />refunded to the Borrower. If. however, the monthly payments made
<br />by the Be rower under (a) of paragrsq* 2 precWing shall not be
<br />suffrciew,, to pay ground rents, taxis ,gad. :assessments or insurance
<br />se
<br />premiums, as the ca may be, whet IN same shall become due and
<br />payable, then the Borrower shall pay to the lender any amount
<br />necessary to make up the deficiency. an or before the date when
<br />payment of such ground rents, taxes, assessments, or insurance
<br />premiums shall be due. If at any time de Borrower shall tender to
<br />Ike Lender. in accordance with the pro-visions of the note secured
<br />hereby. full payment of the entire indebtedness represented thereby.
<br />the Lender shall, in computing the amount of such indebtedness,
<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 />If there shall be a default under any of the provisions, of this
<br />instrument resulting in a public sale of the premise% coffered hereby.
<br />Oa— -LUF&K34CY
<br />or if tbtt Lender acquires the property otherwise after default. the
<br />Lcnriilr shall apply, at the time of the commencement of such
<br />pM, ctsedings. or at the time the property is otherwise-acquired, the
<br />bahoce then remaining in the funds accumulated under (a) of
<br />paragraph 2 preceding. as a credit against the amount of principal
<br />tPir:tt remaining unpaid under said note.
<br />!.,That the Borrower will pay ground rents, axes, assessracrsts,
<br />watr:e sates, and other governmental or municip d charges. fires, or
<br />imgmiti.m, for which provision has not been made hesdnbefare,
<br />anrt irtAtfautt thereof the Lender may pay. tits same: and that the
<br />soc'w4er will promptly deliver the offacial receipts tberefor to the
<br />Lend
<br />5, T-M Borrower will pay all taxes which may be levied upon the
<br />undifes interest in said real estate and improvements, and which
<br />may; be levied upon this instrument or the debt secured hereby (but
<br />easy oy the extent that such is not prohibited by law and only to tie
<br />esa:or. that sub will not make this fora usurious), but excluding any
<br />income tax. State or Federal, imposed oa'Lender. and vrill file the
<br />oriciak receipt showing such payment with the Lender. Upon
<br />vi:tatrrsrn of this undertaking, or if the Borrower is probibited by any
<br />hag+ MVP or hereafter existing from paying the wittr)e crc.aay portion
<br />of 00 aforesaid taxes. or upon the rendering of any court decree
<br />pn,:hiliiting the payment by the Borrower of any such taxes, or if
<br />such., Gtw or decree provides that any amount so paid by the
<br />Bder leer shall be credited on the debt, the Lender shall have the
<br />r'0ri to give ninety days' written notice to the owner of the premises.
<br />n:quioing the payment of the debt. If such notice be given, the said
<br />&-bli %hall become due. payable and collectible at the expiration of
<br />said ninety days.
<br />6, That should the Borrower fail to pay asp stain or keep any
<br />orvenant provided for in this instrument, then LW: tinder. at its
<br />option. may pay or perform the saint, and all a 41%)''"ures so made
<br />shall be added to the principal sum owing on tie said note, shall
<br />be secured hereby, and shall bear interest at the rotie set forth in the
<br />said note, until paid.
<br />7. That the Borrower hereby assigns~ transfers and sets over to the
<br />Lender. to be applied toward the payment of the note and all sl ms
<br />secured hereby in case of a default; is the performance of any r4 haste
<br />terms and conditions of this instrustvtet or the said note, all tliar roils,
<br />revenues and income to be derived from the said premises during
<br />such time as the indebtedness shall remain undid. and the Lender
<br />shall have power to appoint any agent or agents it may desire for the
<br />purpose of repairing said premises and of renting zlte same and
<br />collecting the rents, revenues and income, and it may pay out of said
<br />incomes all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom', the halsou remaining, if
<br />any, to be applied toward the discharge of s&4 ineklitednen.
<br />8. That the Borrow er will keep the improvemmts now crMirsg or
<br />hereafter erected on the property, insured as mxy be required from
<br />time to time by the lender against loss by fire and other hazards.
<br />casualties and contingencies in such amounts and for such periods as
<br />may be required by the Lender and will pay promptly. when due.
<br />any premiums an such insurance, provision for payment of which
<br />has not been made heretnbefore. All insurance shall be carried in
<br />tompanics approved by thte Lender and the policies and renewals
<br />thereof shalt be held by the Lender and have attached thereto loss
<br />payable tlau%e% in faeor of and to form acceptable to the Lender. In
<br />Pape 2 of S
<br />HUD- 221430T -1
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