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<br />�;..: 1.05128
<br />narrower iwth usofr re', t anal own as forowst tttere than fifteen (il) da:3" 16 arrears to cover the extra expense
<br />invelt %cd in handling delitt.2writ payments.
<br />1.. 1%9 Borrower will pay the indebtedness, as'hercinbefore
<br />ptovkWd, 1?tsrlLW is reserved to pity the debt in whin err in putt 3: That if the tutol: st -: ue payments made by thcHomm-er
<br />Anj :t�+tdtiw�wt tf� �iM!_ _ _ –_ _ _ _ _ – �2rt�'� 0- of — re am Ike inert f -ft- numb. of -
<br />payttunts actually .am* b* the Laden for ground rests. taxes ante.
<br />. 2. Thu, together with: and in addition to: the monthly assessments or inauranue'p+trettiunw as�the cast may be, such ex-
<br />payttt :.of_ginci at►d interest payable under the tr. -rms of the cesv, if the kwn 4 cement at the pptipe of tits Hpitnovrer.- i br
<br />note secured hereby. the Borrower will pay to the Lender, on the credited by the Lendleretn subsequent payments to be made by,thrr
<br />fird dray or each mmli 'tttttit the said tiott is Wk paid, the Borrower. of tit:fllinif6d:10,the Borrower. If. however. the rnosthbj
<br />foNowitig awoa: paytrlentss sateen. ",41.*,06raower under (b) of parserupin2
<br />(e) Amount suffidtnt to provide the holder hereof with funds ecedi h it ff' ' otrnd
<br />to pay the next tam miSW kwitanct premium if this inu_ rumen and
<br />the note. secured hereby ate insured, or a mwthly charge (in lieu
<br />of a rrwrrgarge insuratsm premium) if they are held by the
<br />Serreta y of Housing and Urban Devdopmeni, as fellows:
<br />(1) If and so long as said &tote of even date auto this instru-
<br />swiettt are irtstirtd or are reinsured urger the prOOSi(uis.Of the tiao-
<br />tiioltal Hargitg Act, an amount sufficient to acctitrritlnte in the
<br />hands of the hoUer one (1) month prlrtr to its due date the annual
<br />mortgage Wsuranc�e premium in order to- provide such holder, with
<br />funds to pave such premium to the Secretary of Housing and Ur-
<br />ban Devefoprnent pussua�tr..to the National Housing Act, as
<br />amended, and applicsbTt Rtguhtions thereunder at
<br />(11) If and so loth as said note of even data and this rnstrt-
<br />meet are beW by the Secretary of Housing and Uilban M elep-
<br />ment, a monthly charge tin lieu of a mortgage incur -jncr prarnwil ;
<br />which shall be in an amount equal to one- lwaifih (I 121E . of cric-
<br />lsalf (1/2) pet oentum of the average outstandutg bitlrtisce due an
<br />the note computed withow taking into account, dclfi fjftcncic or
<br />prepayttsertta:
<br />(b► A sum equal to the ground amt's„ It any, nett due, pl }to ;lea
<br />premiums that will next beconu due isM.- payable on policit&Ti',
<br />fire and other hazard insurance covens the preperty. plus tsars
<br />and assessments next due on the property (all as estimated by rho
<br />Lender) less all sums already pas Chtr:for divided by the number
<br />of months to elapse before one (1) mc^ruh prior to the date when,.
<br />such ground rents. premiums, taxes awl, assessments will becomes .
<br />delinquent, such sums to be held by Lender in tru #r ?•a pay said''
<br />ground rents. premiums, taxes and special assesss;r4rts and
<br />(c) All payments mentioned in the two preceding vii sbwtions of
<br />this paragraph and all payments to be.•made under the note
<br />secured brxft shall be added together, and the aggregate amount
<br />thereof shy .N. paid by the Borrowtr,mj;h month in a single pay
<br />anent to be applied bit iilu Lender to the following items is the
<br />order set forth:
<br />(1) premium d'.y k:O.% under the contract of insurance wire .
<br />the Secretary of Housing` and urban Development, or mont!rly
<br />charge (ire lieu of mortgage insurance premium), as the case may
<br />be;
<br />(11) grouted rents: ttxci, assessments, fire ane. other hazard
<br />insurance presniums;
<br />(1111 interest on the note sccurxd ,hereby;
<br />(iV) amortization cl the pnt;ri3al of said note; and
<br />(V) late charges
<br />Any deficiency in the amount of such. aggregate monthly pay -
<br />ment shall, onless made )food by the Hcsrower prior to the due
<br />date of the next such payment. constivate an event of default
<br />under this mortgage. '(het Lender may corker a "late charge" not
<br />to exceed four cents (44t• for each doflar (311 of each payment
<br />pi erg. s a rent.lbe tU tenter& to pity 6r gees. tares and
<br />assessinents.or itimtram premiums. as the case may be, when the
<br />same 5110 WC11101hitt and pa)able, then the harrower shavll pay
<br />to the Cender an;t'..atuount necessary -to make -up the dtfkiency. on
<br />or before the data when. payment of such ground:r au. taxes,
<br />ame entt:. oriitii;tti;4oce premitit, tts shall be draw. (fat any time
<br />the Borrower sterol teller to the Lender, in accoWattce with the
<br />provistdita taf j :gisti secured het+ y, full payment of the "ensue
<br />indebte to$ r tt thereby. the Leader shall. in rnatpraoad .
<br />the amduf(f i f iitirlebtedness, credit to the atccown of the`Dor-
<br />rawer all: ytfueaLs t k under the provisions of (a) of pari itph
<br />2 her,:, f :win * )t' kidder has not become obligated to pig tai the
<br />Secrot: ing and Urban Mevelopment and any balance t'1e-
<br />mainini) fi'f - -funds accumulated under the provision+; of (b) 4'
<br />parturat;it hereof. If there shall be a default under any of ft'
<br />pr, • +tibicins of this i mmment resulting in a pubes: sale of the
<br />rjernises covered hci.eti. or if the Lender acquires. the property
<br />aiherwisc after dcLr4'sw the Lender sl-.all apply, a2 -t;1tc time of the
<br />commencement of s;x proceed -mo, or at the time the properly is
<br /><ttltaiwise a ;uitsxin;t!te balance then remaining in the fund&
<br />uumulatdli:uuv,h if:i v of paragraph 2 preceding, as a credit afr;;*>3t
<br />rite artaunt of prisrafsai then «mauling unpaid under said note.
<br />and shall properly adltust any payments which shall have been
<br />made under (a) of paragraph 2.
<br />4. That the Borrower will pay ground rents. taxes, assessments,
<br />water rates. and other governmental or municipal charges. fines,
<br />or impositions, for which provision has not been made
<br />hereinbefore. and in default thereof the Lender may pay the same;
<br />and that the Borrower will promptly deliver the official receipts
<br />therefor to the Lender.
<br />5. The Borrower will pay all ta;:es which may he levied upon
<br />the Lender's interest in said real estate and imptovements. and
<br />which may be levied upon this instrument or the debt secured
<br />hereby. (but only to the extent that such is not prohibited by law
<br />and c- ol,,i- to the extent that such will not make this loan usurittvv).
<br />but exav ding any income tax, State or Federal, imposed on
<br />Lender, and will file the official receipt showivS such payment
<br />with the Lender. Upon violation of this unden:tirirE. or if the
<br />Borrower is prohibited by any law now or herarfi:sr existing from
<br />paying the whole or any portion oCtive aforesatid taxes, of upon
<br />the rendering of any court decree pi;'nibiting the payment by the
<br />Borrower of any such taxes, or ?'f utcn law or decree provides that
<br />any amount so paid irj the, R.!ft45,svr shall be credited on the debt.
<br />the Lender shall haver thar',z,ltt ti7 tripe ninety days` written notice
<br />to the owner of the premises, nilpWng the payment of the debt.
<br />If sudy, notice be given, the said d1;ht• shall become due, payable
<br />aad rafNz:ible at the expiration of paid ninety days.
<br />6. That should the Borrower fail to pay any 4uct or keep any
<br />covenant provided for in this instrument, then the Lender. at its
<br />option, may pay or perform the Same. and all expenditures so
<br />r Pape a HUD- 1211201
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