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<br />89--
<br />- .t.95999
<br />aw *am fast haler eMleoom OW ftm as fesews'.
<br />more than fifteen (1 S) days in arrears to cover the extra expense
<br />invohed in handling delinquent payments.
<br />1. That Borrower will pay the indebtedness, as hereinbefore
<br />pr+ovied. hiv&V is to envd to pay the debt in whole or in pan
<br />3. That if the total of the payments made by the Borrower
<br />oa lay bVIA1111110K due dit+t.
<br />under (b) bf paragraph 2 ptectici tt ahall exceed tltc amount of
<br />payments aact utlly madt by the Lender for ground refits. taxes and
<br />_ 2_'lbar. reretbts �i_rh_ a>tii ssdduinet. LZ �be.rnrmtldty -- -- _
<br />•_. uxexseumts ur �ur>taee tremiums, ats_the_csse_mayr 6e=.sucb.ex -_
<br />prytteeata of prifi*aii and Werest payable under the tests of the
<br />cess. if the lout is current. at the option of the Borrower. shall be
<br />note secured hereby, ft Borrower will pay to the lender. one the
<br />rrediri d b)t the Lender on subsequent paytttents to be trtade by the
<br />first d1t)r of eKh ttttotuh clod! the laid note Is fully peal. cite
<br />Boiretw4rL ,or reftnded to the 8orptrwer. if, however, the monthly
<br />following tlttettta:
<br />[:ay, rgento'insde by the Borrowrr tinder (b) of paragraph 2
<br />(a) AttttlovW w ricicat to provide the holder hereof with funds,
<br />: .1i shall not bt sufficient to pay jrWAW rents, taxes and
<br />to ptt)r the aaut rortiaBe ittratrattot: preatittan if this•itrttrneteet
<br />_ Wwisanttaes or immance prettaiurns. as the catse may be, when the
<br />settee shat! becone due and payable. tMn thre Burrows shall p4�r
<br />elite saw sec rigid bmby arc Wswvd. or a monthly cbaupe (in !i
<br />of a nwrgW iawcance p vmium) if they are held by
<br />to the Lender any amount necessary to make lip the deficiency, on
<br />:the
<br />Secretary of )icaskS and Urban Development. acs follows:
<br />or before the date when payment of latch Sarod roots. tattYS,
<br />assessments, or insurance premiums shall be due. If at arty time
<br />•(1`) If and so eons as said note of e►en date and this irtraru,
<br />, the Botrrower shall tenter to tine Lender. in accordance with the
<br />tneat are iastMod of art reinsured cutter' ilie provisions of the Nee-.
<br />provisions of the n� toured hereby. full payment of the entire
<br />tt t:Hbtuh j� ACt;..tttt .amount Wiricitrie' to accurtnayte in the .- .:
<br />' indebte t eis represemed thereby. the Lender shall. in eompAing
<br />bAaajt of.t>1 ;1}rskhtc_ (1) month prior to its dtir date the annual
<br />the amore of such indebtedness, credit to the account of the Bor-
<br />rtsplr atl�-pohnium in order to provide Sjti t molder with
<br />rower sell'gayments made under the provisions of (a) of paragraph
<br />lipidti; tts.,p01 our i premium to the Secretary of )lousing and Ur -.. ,
<br />2 hermf which the Lende: h:, not become obf�ated to pay to the
<br />iltirt :Ppi� pm=t to .tile National Houdrtft A�`c, as
<br />Secretary of Housing and Urban Development mad any balance re-
<br />aEnti ;, applicable Regulations thereunder; er<:,
<br />maining in the funds accumulated under the prmAons of (b) of
<br />If and so long as said note of esen dany hint£ tills icsc :�...-
<br />fz-agrtph 2 hereof. If there shall be a default under any of the
<br />;. kakL-vF of this instrument resulting in a VOL,. sale of the
<br />ts�qz are held by the Secretary of Housing aril ticdrun !&'setop-
<br />< <
<br />t>ecat. a monthly charge (in lieu of a mortgatse irut:w.xv premimn -4
<br />�Vr
<br />—..� covered hereby, or if the Lender acgoS�s the property
<br />', '%
<br />%rich s .�x'in.an amount equal to one - twelfth (1 /12) of one- .''
<br />otherwise after default, the Lender shall appl). -.% the time of the
<br />Wf (1112T writtum of the average outwanding balance due on
<br />corumettcement of st -zh rroaedings, or at the drw the property is
<br />the rule s�'AF1�'S without 'talon( idto ata:ount delinquencies or
<br />othenk:isc a;ti}uired:.r3tr lidlanc�e then remaining dn.tllr: funds ac-
<br />cumula,,M udder (b)'ofparagraph 2 preceding; zxa.credit against
<br />litNay� ,<<
<br />the anln`+�ii s of principal then remaining unpaid t.7n;lrr $aid mote.
<br />' 's} �i1 s ter, +ytaal to tlar mound rents, if any, n6m due. plus the
<br />and shall properly adjust any payments which siA1114ie ve been
<br />g"',will next become due and payable ois•policies of
<br />made under (a) of paragraph 2.
<br />%e and rtllitu'.hazard insurance covering the property. plus tares
<br />aa)d assessments next due on the property (alt as estimated by the
<br />4. That the Borrower will pay groWul res-tlr,.3t+x.s, assessments.
<br />Under) less all sums already paid therefor divided by the number
<br />water rates. and other goverrmum.0 ou.municipil charges, fines.
<br />of months to elapse before one (1) month prior to the date when
<br />or impositions. for which provisiow, xi> not ban made
<br />such ground rents, premiums. taxes and assessments will become
<br />hereinbefore. and in default thereof the Lender may pay the same;
<br />delinquent, such stuns to be held by Lender in trust to pay said
<br />and that the Borrower will promptly deliver the official receipts
<br />ground rents. premiums, taxes and special assessments; and
<br />therefor to the lender.
<br />(c) All payments menzicned in the two preceding subsections of
<br />dais paraFaph and aH pay ents to be made under the note
<br />S. Tit- ld3 orrower will pay all taxes which may be levied u cm
<br />rtcicured hereby shall be aWkd together, and the aggregate amount
<br />the Lender's interest in said real estate and improvements, an4
<br />which may be levied upon this instrument or ft debt secured
<br />thereof elhati fie paid by the Borrower each month in a sing!: pxy-
<br />ment to be applied by the Lender to the following items in the
<br />hereby (bet only to the extent that such is by law
<br />order set forth:
<br />and only to the extent that such will not main, thie:loan usurious).
<br />(1) premium charges under the contract of imurance with
<br />the Secretary of Housing and Urban Development,'o,-,monthly
<br />Charge (in lieu of mongage insurance premium). as the case may
<br />be;
<br />01) ground rcnta, wroi. TAnm 7,,)Pnts. fire and other hazard
<br />1a'tsurance premiums;
<br />411A).interest on tine'rate secured hereby;
<br />(IV) aimnization of the principal of said note; and
<br />(V) late chaarges. ,
<br />Any deficiency in the a,,nunt of such aggregate monthly pdy
<br />meet shalt, unless made Vj A by the Borrower prior to the Cue
<br />date of the next such payment. convitute an event of default.
<br />tntder this mortgage. The Lender ruty collect a "late charge" rke
<br />to exceed four cents (it) for each dctlar (SI) of each paytrent
<br />but excluding any income tax, State or Federd'q;trtaposed on
<br />Lender. and will file the official receipt show.htg.stuch payment
<br />with "rhe Lender. Upon violation of this undert.:f►i;;tg, or if the
<br />Borrower is prohibited by any law now or IICN444r• existing from
<br />paying the whole c1; ,:a�is� portion of the aforesati&.J;i cos, or upon
<br />the rendering a. atah,.rouri decree prohibiting Oa payment by the
<br />Borroweer of any such taxes, or if such Law or decree provides that
<br />any ar cam'i so paid by the Borrower shall be credited on the debt.
<br />the Lender shall have the right to give ninety days' written notice
<br />to the owner of the premises. requiring the pay!ns nt of the debt.
<br />If such notice be given, the said debt shall hift-o t•e due, payable
<br />and collectible at the expiration of said ninety Gays.
<br />6. That should the Borrower fail to pay any sum or keep any
<br />covenant provided for in this instrument. then the Lender. at its
<br />option, may pay or petform the same, and all e%tvriditures so
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