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.this paragraph and all payments to be made under :the note .
<br />secured hereby shall be *3.4.-d together, and the awim . air amount
<br />thereof shall be paid by the Borrower each month is a single pyy
<br />ment to be applied by the Lender to the following it,tr:s in the
<br />order set forth:
<br />(1) premium cb.&O , under the contract of ,srwmncdir with
<br />the Secretary of Housir4 and Urban Development, or monthly
<br />charge (in Iku of mortgage insurance ,premium), as the case may
<br />be;
<br />(11) ground rents, taxes. assessments. fire and other hazard
<br />insurance premiums;
<br />(111) interest on the note secured hereby;
<br />Awl amortization of the principal of said note; and
<br />(V) late charges.
<br />Any deficiency in the amount of such aggregate monthly pay-
<br />ment shall, unless made good by the Borrower prior to the due
<br />date of the next such payment, constitute an event of default
<br />under this mortgage. The Lender may collect a "late charge" not
<br />to exceed four cents (4s) for each dollar ($I) of each payment
<br />,
<br />5. The Borrower will pa) ai: Wu emhich may be levied upon..
<br />the Let stir's interest in said real'e-s1mv and improvements, and
<br />- * h i�ti-y be levied upon this imtru :lent or ttx.;cbt secured
<br />herch,fi ,(k »t only to the extent that such is not p. ct;ibited by law
<br />and o c: j to the extent that such will not make this loan usurious),
<br />but excU ding any income tax, State or Federal, imposed on
<br />Lender, and will file the official receipt showing such paymer,:
<br />with the Lender. UP=, violation of this undertaking, or if the
<br />Borrower is prohibitaJ, S;y any law now or hereafter existing from
<br />Paying the whole or any portion of the aforesaid taxes, or upon
<br />the rendering of any court decree pahibiting the payment by the
<br />Borrower of any such taxes. or H i5-%h law or decree provides that
<br />any amount so paid by the Borrower shall be credited on the debt,
<br />the Lender shall have the right to give ninety days' written notice
<br />to the owner of the premises, requiring the payment of the debt.
<br />If such notice be given. the said debt shall become due, payable
<br />and collectible at the expiration of said ninety days.
<br />6. That should the Borrower fail to pay any sum or keep any
<br />covenant provided for in this instrument, then the Lender, at its
<br />option, may pay or perform the same, and all expenditures so
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<br />89---;.'105554
<br />11M. wer said L"Ww cove atM MW asi fall"$:
<br />more than fifteen (15) days in arrears to cover the extra expeeiise
<br />I. That Borrower will pay ante indebtedness. as hereinbefore
<br />involved in handling delinquent payments. .
<br />provided. Privilege is reserved to pay the debt in whole or In part
<br />3. That if the total of the payments made by the Harrower
<br />out any bwaflmerst due-date.
<br />under (b) of paragraph 2 preceding sW. exceed r)ttt :nmgttt of
<br />a ��. ��tiFSner �idr::rtd irs itirns-rW. tale tttattthly— —
<br />payments actually made by the Leader for wpund- reutrs,;g0_- -M -and --
<br />assessments or insurance rcirniur as the rase mmr:be.; etch ex-
<br />paynaeWs of p[incipot and interest Payable under the terms of the
<br />cess, if the fears is current, at the option of •the Boreawar, shall be
<br />note secured hereby. the Borrower will pay to the Lender, on the
<br />credited by the Lender on subsequent payments. ta. be made by the
<br />fast dtry of arch numb until the said note is fatty paid, the
<br />Borrower, or refunded to, the Banower. lf; however, the motably
<br />fo8o!ri°g sotmat:
<br />payments trade by the Borrower under .0),- d pltragraph 2
<br />(A) A,tYd U suffideat to provide the holder hereof with funds.
<br />preceding shall not be sufficient to pay ground :amts, taxes and
<br />to Ptah tic next nsort&W insurance prtttttiunt if this instrument and ;
<br />tilt edict teat ed liereify.aarc ittsttred, ar..ai monthly charge {in lieu;.'.':
<br />assessments or ittsurazc� premium% as the cm. way be, when the
<br />same shall become t( ,.;gad payabie, then. thtt Sl,"Mer shall pay
<br />of a raortpBr i>fsurancr prirnurraj if tftiry:ara held.by these
<br />- nc�. #iwtder rri; ufzi .tteoesstattr eves rt a 14.'the deficiency. on
<br />Secrtitaty of Housing a" .. r n. lien idis�t►t�ettt, as f�t�oart:
<br />:�i ! c de,dtitg ssifs ±. aymeQe fr -Wmch. iroutid rents, tastes,
<br />() itld. {. 'Siia rtC[1..i Rota d: ;atfl li S 7tf5tJr%{p
<br />OrM...' Vali' be dne.' (f at any time
<br />1i #! i t(}yr jj, f> TOE ,e in asxraricfe with the
<br />natant arc iaalartti or acre curb¢ ai)ria ie Prc4 gal +Itr .t>:na.
<br />roi `> ' y �� ;.
<br />ts�il�.��;ull gsi>s[( {, isf the entire
<br />�1i01N1sawici�Cl, atiaiuount SLiiT#„`U�'i(rtd �3CC,tm7�Qlay!r3tt 1':tt "�
<br />of t)at hyoidtt +sale apt, irs ii(fr• the
<br />t�a` i?l�C4Sejillle [ebyy' #��',;liQ�tC`tj; i7i *CODSptxi;
<br />(tp itwit♦tt tC t al aht;ttat
<br />the amnaisl irf such indeixedrsesp; wr ii ,to �tbe'acoauytt of ti :hi( .
<br />:tapatgaBe iasruanpe prea>tf I in or 'to provide-4*i- holder with
<br />'
<br />rower >tll' 6*yments made under the litisv"uions of (a) of pararaph
<br />ftaltii to pay stash premiuin to the Secretary of f'Iottting acid Ur-
<br />ban Desm -! anent pursuant to the National Housing Act, as -
<br />2 hereof, which the lender ham :iota become obligated to pay to the
<br />Secretary of Huur4ng and Urban, Development and any balance re-
<br />anlended, and applicable Regulations thereunder: or
<br />maiming in the• funds accumyluttid under the provisions of (b) of
<br />(in If and so kmg as said note of even date and this instru.
<br />paragraph. Z hereof. If there shad be a default udder any of the
<br />meat are held by the Secretary of Housing and Urban Develop-
<br />provitadnus of this instrument resulting in a public We of the
<br />ment. a monthly charge (in lieu of a mortgage insuraurr premium)
<br />premises covered hereby. or if the Lender acquires the property
<br />which shall be in an amount equal to one - twelfth (1/12) of one•
<br />otherwise after default, the Lender shall apply, at the time of the
<br />half (1/2) per centaur of the average outstanding balance due on
<br />commencement of suet proceedings, or at the time the property is
<br />the tote computed without taking into account delinquencies or
<br />otherwise acquired, the balance then remaining in the funds ac-
<br />preWyrnenn:
<br />cumulated under (b) of paragraph 2 preceding, as a credit against
<br />(b) A sum equal to the
<br />W ground rents, if any, next due, plus the
<br />the amount of principal then remaining unpaid under said note.
<br />and shall property adjust any payments which shall have been
<br />premiums that will next become due and payable on policies of
<br />made under (a) of paragraph 2.
<br />fire and other hazard insurance covering the property. plus taxes
<br />and assessments next due on the property litY as mdmated by the
<br />4. That the Borrower will pay ground rents, taxes, assessments.
<br />Lender) less all sums already paid therefor divided by the number
<br />water rites, and other governmental or municipal charges, fines,
<br />of months to elapse before one (1) month prior to the date when
<br />or impositions. for which provision has not been made
<br />such ground rents, premiums. taxes and assessments will become
<br />hereir_before. and in default thereof the Lender may pay the same;
<br />delinquent, such sums to be held by Lender in trust to pay said
<br />and that the Borrower wilt promptly deliver the official receipts
<br />ground rents, premiums. taxes and special assessments; and
<br />therefor to the Lender.
<br />(c) All payments mentiizv.,ed in the two preceding Faubsections of
<br />.this paragraph and all payments to be made under :the note .
<br />secured hereby shall be *3.4.-d together, and the awim . air amount
<br />thereof shall be paid by the Borrower each month is a single pyy
<br />ment to be applied by the Lender to the following it,tr:s in the
<br />order set forth:
<br />(1) premium cb.&O , under the contract of ,srwmncdir with
<br />the Secretary of Housir4 and Urban Development, or monthly
<br />charge (in Iku of mortgage insurance ,premium), as the case may
<br />be;
<br />(11) ground rents, taxes. assessments. fire and other hazard
<br />insurance premiums;
<br />(111) interest on the note secured hereby;
<br />Awl amortization of the principal of said note; and
<br />(V) late charges.
<br />Any deficiency in the amount of such aggregate monthly pay-
<br />ment shall, unless made good by the Borrower prior to the due
<br />date of the next such payment, constitute an event of default
<br />under this mortgage. The Lender may collect a "late charge" not
<br />to exceed four cents (4s) for each dollar ($I) of each payment
<br />,
<br />5. The Borrower will pa) ai: Wu emhich may be levied upon..
<br />the Let stir's interest in said real'e-s1mv and improvements, and
<br />- * h i�ti-y be levied upon this imtru :lent or ttx.;cbt secured
<br />herch,fi ,(k »t only to the extent that such is not p. ct;ibited by law
<br />and o c: j to the extent that such will not make this loan usurious),
<br />but excU ding any income tax, State or Federal, imposed on
<br />Lender, and will file the official receipt showing such paymer,:
<br />with the Lender. UP=, violation of this undertaking, or if the
<br />Borrower is prohibitaJ, S;y any law 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 pahibiting the payment by the
<br />Borrower of any such taxes. or H i5-%h law or decree provides that
<br />any amount 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 payment of the debt.
<br />If such notice be given. the said debt shall become due, payable
<br />and collectible at the expiration of said ninety days.
<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 perform the same, and all expenditures so
<br />• pal }e 2 015 HUM 9214307
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