|
r
<br />IIJI
<br />/tttt�atree oral heM�tr cnmretaa�t tttt�� as piatiavvs: ^ v..�
<br />Mt K c;►(r if the Lender acquires the �� ��atkvwisr � dt"tthe_
<br />fiaarfer shall apply. atthe time of the doomrap4 MMI of std ff
<br />t'. T1W iorrower wilt pray die bieaApr. a heseirtAelin+e': grcoeediags� or at the agree the property is Oomwist acquired, the
<br />pnm itid. lritgre w eeaerved b p.y tlrr asst in +iwtola ar.in. part oa balattoe theat
<br />at�r inatallrnewt dine atatr. �m n * fiatdl< WW antler (a} of
<br />parwaph 2 precedW% a a a tdit a,pirtst this awttauat of ptincipat
<br />then rerIWniwg unpaid under said nose.
<br />t.'[' Vt. ut�etAawit> 1, andinadairia+ r►t�,tltt-atontlttyotYrtMts - - -- - -- -. -- _ ___
<br />*40 nose aecwed i. That the Borrower will pay ground rents..taxM assessments, - -
<br />hareby. the Dimmorr will py tug the ketlar. -aw *.IFM /ay of each water rata. Otte! calla:` governtapntat or nawnicipnl cWtKs; i+aKS. or
<br />ta�gtttit, wtr;t the t�wrE tvate art fr*y.ptitA. alto- iQMowf� sttdlte: impoaitiorts:.fnr whidr proristioti hu argot bart'tt tocttdt: fitraabsforG .
<br />(ce) saga sad 'n default barn[
<br />t(lw) to at ground teats` halo), (tart date, pins tee
<br />Mn1111fo a that will' Batt becoane date sad payable on policies of fire
<br />ad Claw haaud irtwAum covering the property, plus taxes and
<br />sataaMWa to nest daft ell the property (seas etatawtetf #p alit Lead r)
<br />Brat at avers ab"* paid therefor divided by then auarw d months
<br />tilts sMe htttlbnt OW (1) PONII Prior 10 the due when arch groawd
<br />VCMK Firmivaa. taxes ad aaaet UMM WA- bie�emcddiquent, such
<br />suaws.to.b�e hired by arcade`. it truer tII0i sgfii ,wrrd rears.
<br />ptewieerNt,taxex aadaperittt a�nrertte: �tns�;;'.:.':
<br />r1 ? }`Rli pry.m. rl) wtegfirtar!d its the grcodid iybsaction of this
<br />PWal�►!!+ iwypkwea tube trade uipdttlte note secured
<br />Ueri'by sIWE pE nrt(!ded together. and the aggregate amount thereof
<br />add[. be PW by t* Borrower tack month in a single payment to be
<br />apprridi} by tyre tender to the folpowing itertts in the order set forth:
<br />(1) grotwtd rants. talui,Yle'SBMMM fire and other hazard insur-
<br />aace premitn K
<br />Cal) iwterat oA the Mote secured bereby;
<br />.� • �T.�I)r aptottiratioa of tlrc pciirwip�al of staid amore; at'md
<br />M) late Charges.
<br />A'ny def c&-j". in the amount of such ante monthly payment
<br />sttatl, Wk-good by the Borrower prim to the dw:datc of the
<br />hate such ptayatettt. t DOWtute an event of default under tJhs
<br />mortgage. The Lender may soaker a "late charge•, not t zl aa�vw four
<br />ants (" ) for each dollar (SI) of each payment more sls , fifteen
<br />(1 S) days in afran to cover the extra expense involved in handling
<br />delinquent pynments. ,
<br />T,' That if the total of the payments made by, the 19F,ratswer under
<br />fat of paragraph 2 preceding shall exceed the amount a t�.srtsments
<br />actually made bp.7he !.cadet for [round rear?, taxes and stet.
<br />Of msuranoe Qtrttnuaft a the case may be, such eXcess, if the
<br />current. at the option of the Borrower, shall be credited � the
<br />f,(imkr on subsequent Payments to be made by the Bornw%cr, or
<br />rref+wtdedl to the Borrower. If however, the monthly pasr*,rntts made
<br />4 the Borrower wader (a) of paragraph 2 preoeding shall not be
<br />Sufficient to pay ground rents, taxes std assessments or insurance
<br />Premium as the case may be. when the same shall become due and
<br />Payable. then the Borrower shall pay to the !.ender any amount
<br />neaaaary to make up the deficiency. Can or before the date when
<br />payment of such ground rents. taxes. assessments. of insurance
<br />Premium sW.1 be due. flat any time the W- ftOWer shall tender to
<br />the Leader. inn owordance with the provisions of the note secured
<br />hereby. fuH psythent of the entire indebtedness reprr. tinted thereby.
<br />titel.enders)IND. in computing, the amount of such indebtedness.
<br />OMW to the account of the Borrower any balance remaining in the
<br />tit accumulated under the provisions of (a) of paragraph 2 bettor.
<br />tit there shall be a ddsah under any of the provisions of this
<br />=& OWN `earthing ill a public sale of the prrtmises covered hereby.
<br />Borrower will t the ftwdcr thaw pay alts gotta; and that the
<br />promptly dellms the Wiidd tr xe" thaefdxr to the
<br />lender,
<br />S- The Borrot"t will pay all taxes wWh may be levitsd ttpoe tt t
<br />Lender's interest in said real estate and twovetta t. trod while
<br />may be kvied upon this iaatrwtteat or the debt secured hereby (but
<br />Only to the extent that stack is not prahiib(W by law and only to the
<br />extent that sm will trot ttttlte this loos wwious), but excluding any,..
<br />inooate tax, State or Federal. imposed on Lender, and will ftic the ..
<br />official receipt showing such payment with the Leader. Upon
<br />violation of this undertakittl, of if tine Borrower is prohibited by any
<br />law now Of hereafter exist* from paying the while of any portion
<br />of the aforesaid taxes. or u� ft rendering of any court decree
<br />prohibiting the payment by the Worawir of any such taxes. or if
<br />such law or decree provides than 4,V mount so paid by the
<br />Borrower shall be credited an the debt- the Lender shall have the
<br />fKht to give ninety days w: niten notice to the owner of the premises.
<br />requiring the payment offt debt. If such notice be given, the said
<br />debt shall become due. payable and collectible at the expiratiort of
<br />said nifty ditys.
<br />6. That should the Borrower fail to pay any sum or keep any
<br />covenant provided for in this instrument. then the haler, at its
<br />ption, may Bay or perform the same. and all axpeadi sues so made
<br />shall be added to the principal sum owing on the said auto, shall
<br />be secured hereby, and shall bear interest at the rate set forth in the
<br />said note. until paid.
<br />7. That the Borrower hereby assigns. traakra ants w4s ov;r tx the
<br />Lender, to be applied toward the payment of the note and g'11' (rm .
<br />secured hemts in Case of a default in the pefforma= d any o�'lytie.
<br />terms anit tu_rriditions of this instrument or the said note, all the rent:,,
<br />revenues arw: 5ncome to be derived from the said premises during
<br />IWO lane. as the indebreditamamshall remain unp"aimf.. the Lender
<br />{.dull have power to apgei lot: any agent, agents ii iwl desire for the
<br />Purpose of<044iring said premises anw• the same and
<br />collecting 1* rents, revenues and income, and it may pay out of said
<br />incomes all expenses of rereiring said premises and necessary
<br />commissions and expense: i.ecurred in renting and managing the
<br />same and of collecting rentals therefrom. the balance remaining, if
<br />any, to be applied toward the discharge of said indebtedness.
<br />R. That the Borrower will keep the improvements now existing or
<br />hereafter erected on the property, insured as may be required from
<br />time to time by the Lender against loss by fire and other hazards,
<br />casualties and contingencies to such amounts aad fs~r, such periods as
<br />may be ral;tired by the Lender and will.- pay promptly. when due,
<br />any prer. -mms on such insurance, proviritpa for paytttent of which
<br />Us not been made hereiabefore. All m*urance shall be carried in
<br />companies approved by the lender and the policies Ovid. renewals
<br />thereuf shall be held by the: fender and have attacbel (hereto loss
<br />payable tUIOi:s in favor of std in fora at axptable to the Lender. In
<br />Pt" 2ct5
<br />' L
<br />L
<br />HUD- 921430T.1
<br />1W
<br />4.
<br />
|