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(c) All payments mentioned in the two preceding subsections of
<br />Ms paragraph ard all payments to be made under the note
<br />secured hem-by shall be added together, and the aggregate amcanr:
<br />thereof shall be paid by the Borrower each month in. a. Angle pay,
<br />ruent to be applied by the Lender to the following tieri►s in the
<br />order net forth:
<br />;.T,, Jrremiwn charges under the contract of insurance w ilb
<br />the Secretary of Housing and Urban Development. or monthly'
<br />dtarse (in Lieu of mortgage insurance rremium). as the case may
<br />be;
<br />(IRground rents. taxes, assessments. fire and other hazard
<br />insurrAt>i w premiums;
<br />(Il'1) interest on the note secured hereby;
<br />(IV) amortization of the principal of said notes and
<br />M late charges.
<br />Any deficiency in the amount of s6A aggregate monthty pay-
<br />ment shall, unless mane good by the Borrower prior to the due
<br />date of the next such, pay.-nern. constitute an event of default
<br />under 11 is mortgage. The Lender may collect a "late charge" not
<br />to irsowd four cents (It) for each dollar (Sl) of each payment
<br />s. The FonoAer %vill pay all t_ses which tray -rte levied upon
<br />the Lender's interest in said real estate and imprivements. 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 only to the extent that such will not make'rhis loan usurious),
<br />but excluding any incom tax, State or Feder;ikobixposed on
<br />Lender. and will fik the official receipt shotiwiliff, Ji3Ch payment
<br />with the Lender. Upon violation of this undcrt4.6ig, or if the
<br />Borrower is prohibited by any taw now or hereafter existing from
<br />paying the whole or any portion of the aforesaid taxes, or upon
<br />the rendering of any court decree prohibiting the payment by the
<br />Borrower of any such taxes. or if such law or decree provides that
<br />any amount so paid by the Borrower shalt 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 tine payment of the debt.
<br />If such notice be given, the said debt shad become due, payable
<br />and collectible at the expiration of said ninety flays.
<br />6. That should the Borrower fail to pay awvl prim or keep any
<br />covenant provided for in this instrument. then ilm Lender, at its
<br />option, may pay or perform the same. and all expenditures so
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<br />>barawar nand Leaser ayvaaasti a" arm W fl own:
<br />more Mari fifteen (15) days in arrears to cover the extra expense
<br />involved in handling delinquent payments.
<br />1. ThK Borrower will pay the indebtedness: as hereinbefore
<br />r .,..:�a,,,�s .. t. nselved ter- paX*kdek in wink or -. part
<br />3.. That if the total of the payments made by the Borrower
<br />oft any' due date.
<br />tinder (b) par — etica tit�aroo�u `aiT -- — — = --
<br />paymertts actually trade by the Leader for ground rents, taxes ad
<br />2. "WSW -w". SrA in addit = to. ON mo mw
<br />anes"Hents or ins; PreM1q1R16 211 the see WY. j�et such ex-
<br />pyatate of p and uxerea- payable under the tam of the
<br />cess. if the Iona is current. at the option of the. Norro+rer, shalt be
<br />note sectssttd hereby, the Borrower will pay to the Lender. oo the
<br />credited by the Letider on subaequent payments to be trade by the
<br />first dry of i1scit month `ur d the said note is My paid, the
<br />Borrower, at refunded to the Narrower. If. however, the monthly
<br />two" iag VMS:
<br />payments made by the Borrower under (b) of paragraph 2
<br />(a) Attsottn� au(fideiii to provide the holder hereof with funds
<br />preadmgorill not be sufficient to pay ground rents, taxes and
<br />asetsacudtls of insurance pretaiunts, as the case may be, when the
<br />:'$ti pray the am r- bostusam prclaium :if this .isati•umett and
<br />saim.ji±!tri> beeottte due and payable, then the Borrower shall pay
<br />the am sactgied: bta:r<by.#irr itaurod, or a nwaainiy drug, (in Ilea :
<br />,,. any necessary to make up the deficiency, on
<br />t °: t
<br />of a more jfuvsrca pivdvm) if they are held by the
<br />Socsit +y'ttEl rf>(` ; fJtbaa [ftweioptttent. as forib+vs:
<br />:)-
<br />;,- of b#imDA date when Payment of such grotard.mu ,taxes,
<br />i ,
<br />ji�, or insumitce premiums shall be due. If at any time
<br />vote of even date gild (.hss ins au.
<br />the :�unwrer shall tender to fire lender. in accordance with the
<br />a*" awe iift#1r��° t fiwrod under the pravtsippi� f the Na
<br />provisions of the note secured hereby. full vat of the etiiirp
<br />dolmd , starttatsottnt sufficient to accun itt in the
<br />indebtedom repraeuted thereby. the Lender shall, f : unsptkftilg
<br />.
<br />haodt of one (t) month'prior to its due date the annJW
<br />the amount of stkh irldebtedttess, credit to the >iocd tttt, .ijka Bor-
<br />nwrtga jr it itiance premium in order to provide such holder with
<br />rower all payments made under the provisions ol'(a} lit p�h
<br />farads to palr such premium to the Secretary of Houlits�e attd Ur-
<br />2 hereof which the Leader has not become obligated to sty tt the
<br />ban Development pursuant to the National Housing : . as
<br />Secretary of Housing and Urban Development and any bra --e-
<br />amended, and applicable Regulations thereunder; or.'.*
<br />maining in the funds accumulated under the provisions of (ii):of
<br />(Ili Ile apil so long as said note of even date and this instru-
<br />paragraph 2 hereof. if there shall be a default under: any of the
<br />provisions of this instrument resulting in a publ164.0 , of the
<br />went are WL by the Secretary of Housing and Urban Develop-
<br />premises covered hereby. or if the Lender acquk,s- rite property
<br />intent. a nioa hay charge (in lieu of a mortgage insurance premium)
<br />otherwise after default, the Lender shall apply, at the time of the
<br />which shag be in an amount equal to one - twelfth (1/12) of one-
<br />comtntttrrtinettt of such proceedings, property is
<br />g , nr:at the time the ro
<br />half (U2) pm. cmum of the average outstanding balance due on
<br />otherSv.*sie acquired. the balance thin iv';etainino In the funds as t
<br />the Wore !arep without tatting into account delinquencies or
<br />cutr Aom under (b) of paragraph 2 precedirtp,<:►s. acredit against -
<br />PreW)mttflla;
<br />thetottrtt of principal then remaining trtrf 2rrii ttrir3arr said note. i
<br />( k sit 04tid to the ground rents. if any. next due. phts that.
<br />and 4�%properly adjust any -pay;o mss.: jo, +?(n'a# ,have bats -
<br />premiums that will next become due and payable on policies of
<br />ma�LA, rdi r (a) of paragraph 2.
<br />fire and other hazard insurance covering the property. plus taxes
<br />' and asseswx�iis next due on the property (all as ea narea by the
<br />4: ►irat the Borrower will pay ground rents; taxes, assessments,
<br />Lender) lest stil sums already paid therefor divided by the number
<br />water rates, and other governmental or municiodf charges. fines,
<br />of months tvrriapse before one (1) month prior to the date when •
<br />or impositions, for which provision has not hitter nta k
<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 sums la be herd 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 mentioned in the two preceding subsections of
<br />Ms paragraph ard all payments to be made under the note
<br />secured hem-by shall be added together, and the aggregate amcanr:
<br />thereof shall be paid by the Borrower each month in. a. Angle pay,
<br />ruent to be applied by the Lender to the following tieri►s in the
<br />order net forth:
<br />;.T,, Jrremiwn charges under the contract of insurance w ilb
<br />the Secretary of Housing and Urban Development. or monthly'
<br />dtarse (in Lieu of mortgage insurance rremium). as the case may
<br />be;
<br />(IRground rents. taxes, assessments. fire and other hazard
<br />insurrAt>i w premiums;
<br />(Il'1) interest on the note secured hereby;
<br />(IV) amortization of the principal of said notes and
<br />M late charges.
<br />Any deficiency in the amount of s6A aggregate monthty pay-
<br />ment shall, unless mane good by the Borrower prior to the due
<br />date of the next such, pay.-nern. constitute an event of default
<br />under 11 is mortgage. The Lender may collect a "late charge" not
<br />to irsowd four cents (It) for each dollar (Sl) of each payment
<br />s. The FonoAer %vill pay all t_ses which tray -rte levied upon
<br />the Lender's interest in said real estate and imprivements. 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 only to the extent that such will not make'rhis loan usurious),
<br />but excluding any incom tax, State or Feder;ikobixposed on
<br />Lender. and will fik the official receipt shotiwiliff, Ji3Ch payment
<br />with the Lender. Upon violation of this undcrt4.6ig, or if the
<br />Borrower is prohibited by any taw now or hereafter existing from
<br />paying the whole or any portion of the aforesaid taxes, or upon
<br />the rendering of any court decree prohibiting the payment by the
<br />Borrower of any such taxes. or if such law or decree provides that
<br />any amount so paid by the Borrower shalt 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 tine payment of the debt.
<br />If such notice be given, the said debt shad become due, payable
<br />and collectible at the expiration of said ninety flays.
<br />6. That should the Borrower fail to pay awvl prim or keep any
<br />covenant provided for in this instrument. then ilm Lender, at its
<br />option, may pay or perform the same. and all expenditures so
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