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(II) ground rents, taxes; assessments. fire and other hazard
<br />insurance premiums;
<br />(III) i,,ttrest on the note secured hereby;
<br />(IV) ctta;,,rtization of the princitrrd (jt' .said note; and
<br />M late charges.
<br />Any dtftcirncy in the amount of such aggregate t .onthly pay-
<br />ment shall. unless made good by the Borrower psior.n.) the due
<br />date of the next such paymect, eonstiruto,an evCttt o: ;default
<br />und. *,46 ri.s;t4i . The Lender may gt.Ama a "lam charge" lot
<br />to exceed fuurr cents (49) for each dollar t'311 of cacti-1)4- mem'
<br />ti. (1! L11n11
<br />the rendering of any court decree prohibiting the payment by the
<br />i3 uro%,:a ce, any such taxes. or if such law or decree provides that
<br />any anra,:drt so paid by the Borrower shall be credited on the debt.
<br />the lender shall have the right to pave ninety days' urmen notice
<br />to tat owner or the 1 :rcrnise,, requiring the payment of tl:e dcht.
<br />if such notice be giv <nT. klic said debt shall become due. payable
<br />and collectible at the ,:t4 station of said ninety days.
<br />6. That should the Borrower tail vo pay any stun or keep any
<br />covenant provided for u? this instrument, then the Lender, at its
<br />option, may pay or dyer(4:tnt the same, and all expenditures u)
<br />Page 2 of 5 HUD- 9214301
<br />89-0'105116
<br />r, rerrower aura Leerier c "W111l MW SUM as foMorrs:
<br />more than fifteen (15) days in arrears at cover th;: oara cspense .
<br />involved in handling delinquent payments.
<br />I, That Borrower will pay the indebtedness, as hocinbefore
<br />__ -._ _ _ _ _DIOti_J�ld. l'lililtgt ts.resened to__{>z�r_thr de)1t in Khubg (sr in Dart
<br />3_ }ira�if the tC-t- iLrhr�rsaye n enrcfg =h r_y _h rr>T _ —_ -- -- - - -. - -- - --
<br />on any installttxnt due date.
<br />under (b) of paragraph 2 preceding shall exceed the amount of
<br />-..: 2. That. together with, and in- addition to. the monthly
<br />paytttems actually made by the Lender for ground rents, taxes and -
<br />assessrothts or insurance premiums. as the case may be. such ex. _ . .. _....._... _,..- .
<br />payments of principal and interest payable under the terms of the
<br />"
<br />Qw. if the fi1>an is current, at the option of the Borrower. shall be
<br />stone secured hereby, the Borrower will pay to the Lender. on the
<br />credited by the Leader on subsequent payments to be made by the
<br />ftru day of etich month until the said rate is fully paid. the
<br />1Borrov4r.,or refunded to the Borrower. If. however. the monthly.
<br />foilowiftg sums:
<br />payments malt by. the Borrower under (b) of paragraph 2
<br />(a) Atttaunt sufficient to provide the holder hereof with funds .
<br />among shall n;tttih. sufficient to pay ground rents, taxes and
<br />to pay the Hart rtaort(lapase inwrance premium if this instrument and
<br />assessments• or; itiisAr ntv,rremiums. as the case. may be. when the
<br />the note secured hereby are insured, or a monthly charge fin lieu
<br />same shaWbiv6inr dos, dater payable, then the Borrower shall pay
<br />OF a ruortgspx iasurarrae premJum) If they are held try the
<br />to flit[ li :Ecidit, ally. ctttrntrns rnt+crSSary to make up the deficiency. on
<br />Secretary of Housing a Urban Decdlopment. as ftasll'stws:
<br />nd
<br />or bettfre ter, nit t! Whtan pay Mt of such ground rents, taxes,
<br />11) If and so !Dreg as said rate even dale -iris this insttui. -
<br />assessments, 0",imurratm picaniunts shall be due. If at any time
<br />the Borrower sh4911lihder to the Lender. in accrdanct with the
<br />mew are insured or are reinsured under the provisions of the Na-
<br />Atat„sittns of the mote secured hereby. 'full payment of the entire
<br />tional Housing, Act. an aaKxmt sufficient to accumuLre in the
<br />ifidthUdlitsx reptrfersted thereby. the Leader shall. in computing
<br />hearts of the holder one..ttik i%%onth prior to its due date the annual
<br />the iimotust of such indebtedness, credit to -the account of the Bor-
<br />mortgase insurance pretaktere in order to provide such holder with
<br />rower all - payments made under the provisions of (a) of paragraph
<br />funds to ray stkh premium to the Secretary of Housing and Ut. _ ::
<br />2 hereof which Or Lender has not become obligated to pay to the
<br />ban Tkvelaf�tx••tt pursuant to the National Housing Act, as
<br />. Secretary of Housing; and Urban Development and. any balance to-
<br />amended, &k. applicable Regulations dx ;.under; or
<br />training in 1IicJunds .,yeses, nufared under the provi,'sions of (b) of
<br />(Ip If artd so long as said Hoer � J' c�vcn date ,;,r>v3c tiros insert-
<br />2 h�rcof TIF r r ile shall be a default under any of the .
<br />paragraph rr"• .
<br />ment are held by the Secretary of Hensr,,•h and ;'rMtt f: l.v:vtlop-
<br />provrs.ions. elf t5is in ;rrrne(tt resuWaig in a public sale of the
<br />_ mont, a monft.1?. charge (in lieu of a murrgige i:t54;�rriMpremium)
<br />Premises v�;ted her;lt:; -dr if the Uxilcr acquires. the pr_�tcn
<br />which shall iisi an amount equal to ar rtuelfth () [2► of ortc•
<br />otherwrsr.dtw default:, tiic Lender•'�sll apply, �4c 111> t4t*u;r�fi t ", ^e
<br />half (1/2) (vsrr+etitum of the average outstanding balance due on
<br />commencement of ;ucT: proceeding s:.itr at the t rres :the priypveri.} is
<br />the note corr„gei d without. taking into account delinquencies or
<br />other%is4 ra.quired, the balance their: remaining in the funds xxe -_ t
<br />prepayments;
<br />cumulates w•rder (b) of paragraph 2•p-eceding, as a credit fi •4!i :;_,t
<br />' till A it= =ajual to the ground rents. if any. nett due, plus the
<br />the amcP=. - -;of principal then remam ng unpatid under said Harz,
<br />and shall properly adjust any payments which shall have been
<br />premiums tlyk7 will neat become due and payable on poltcic; of
<br />fire and ofte hazard insurance covering the property, plus taxes
<br />made under fa) ,if paragraph 2.
<br />and assessments; neat due on the property tall as estimated by the
<br />4. That the Borrower will pay ground rent%, taxes, assessments.
<br />lender) less all sums already paid therefor divided by the number
<br />water rates, and other gowrnmental.pr municipal charges, fines.
<br />..cc months to elapse before one (1) month prior to the date when
<br />or impositions, for which provisoom lw not been made
<br />such ground rents, premiums. tics and assesmutents will become
<br />delinquent. such sums to be held by Lender in trust to pay said
<br />herembefore, and in default thereof the lender may pay the same:
<br />and that the Rorrower.I1411 promptly deliver the <? } :tc.ial receipts
<br />ground rents, premiums, taxes and special assessments; and
<br />therefor to the Lender.
<br />(c) All payments mentioned in the two preceding subsections e:,'
<br />this .paragraph and all per is to be made under Ut
<br />S. ifre, Qerrclwer will pay all taxes which may be ►evia•d upon
<br />added
<br />secured htrtby shall be added together, and the aggregate amou ri
<br />tc a
<br />the Lender's interest in said real-estate and improvements, 4nd
<br />thereof shall be paid by the Borrower each month in a single pay-..
<br />which utay be !;vied upon this instrument or the debt secured
<br />mint be applied by the under to rite t :,owing items in the
<br />hereby (ben only to the extent that such ii not prohibited by law
<br />se
<br />order set forth:
<br />and only to the extent :hat such will not make this loan usurious),
<br />hilt excluding any � income tat, State or Federal, im
<br />y posed on
<br />(l) pretttium charges
<br />arges under the contract ot..;m;erance with
<br />I- ender, and will file the official receipt showing such payment
<br />the Secretary of Housing and Urban Development, Yr monthly
<br />with the i.endct. Upon violation of this and Snaking, or if the :
<br />chk9c (in Geu Of mortgage insurance rrtmium). as the case may
<br />Borrower is prohibited by any law now or Hereafter existing from •� -
<br />be;
<br />paying flit whole or an,., portion of the afnrrsaid late
<br />(II) ground rents, taxes; assessments. fire and other hazard
<br />insurance premiums;
<br />(III) i,,ttrest on the note secured hereby;
<br />(IV) ctta;,,rtization of the princitrrd (jt' .said note; and
<br />M late charges.
<br />Any dtftcirncy in the amount of such aggregate t .onthly pay-
<br />ment shall. unless made good by the Borrower psior.n.) the due
<br />date of the next such paymect, eonstiruto,an evCttt o: ;default
<br />und. *,46 ri.s;t4i . The Lender may gt.Ama a "lam charge" lot
<br />to exceed fuurr cents (49) for each dollar t'311 of cacti-1)4- mem'
<br />ti. (1! L11n11
<br />the rendering of any court decree prohibiting the payment by the
<br />i3 uro%,:a ce, any such taxes. or if such law or decree provides that
<br />any anra,:drt so paid by the Borrower shall be credited on the debt.
<br />the lender shall have the right to pave ninety days' urmen notice
<br />to tat owner or the 1 :rcrnise,, requiring the payment of tl:e dcht.
<br />if such notice be giv <nT. klic said debt shall become due. payable
<br />and collectible at the ,:t4 station of said ninety days.
<br />6. That should the Borrower tail vo pay any stun or keep any
<br />covenant provided for u? this instrument, then the Lender, at its
<br />option, may pay or dyer(4:tnt the same, and all expenditures u)
<br />Page 2 of 5 HUD- 9214301
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