|
_�
<br /> � - _ . . . _ _ _.. . . _ ... . .. _
<br /> � .
<br /> 1 ,. �
<br /> . .
<br /> . . . �,g� iQ5619 �
<br /> a�i LR�/er ee+r�'��t a�d�ar toMws: more than fifcecn p51 daYs iri arr�rs to caver che est't�e;pense .
<br /> ' M�TOwet imot�ed in hared[ing delinquent p.�yments.
<br /> �� • !. That'8ortawer will.paY the imkb�ednas.a.`hereinbeiorc
<br /> ���_�.���r��to p�y the deb!in whok cx in part 3. That iE the totai of the payments mad�b�.tba�ittrewer
<br /> on anY irtst�t�e�►t stue d:te. under(b)oi paraSraPh.Z precedin8 shali ex�sect thA i�lrwnt ot
<br /> payznents actwlly made by thc L�enckt for gra►tnd t�l1�;taxet an�
<br /> � her Rith.and in addiiio�s to.thc mcmthtp asseasments or insurance premiurrts, as tHa c�se malc he.:_such ex-
<br /> 2. T1�.Co�t �Sh�11 be
<br /> pey}IIR4tt�Of DnrtriP�l alld�t12�K�t11 PaY[O tt►et�endtt.o�tha creclited by the l.ender�n subtse94�FY►n�t���by the
<br /> nae���,ths Ei�xr Borc�wer,or rcfunded eo ehe Borrowrr. [G,hawnvasy;tiie monthly
<br /> . . •
<br /> • fi�t d�ot a�eh moat6 uncit�ttit s�i�i�tc is fu1h�P�•the �y�tS rtlit�e M!the HOtfOwlT ufidiT(L9��O�''pflt�l��A�►a_ . . , .
<br /> fallor�sq�a�: precedin6 sltali not be sufficient t�pa�!�unQ�rentG. tax�s and
<br /> (sj.�mo�ee wrr.ckt+�co�iae�,c�owet 6ereoE w'eh fe�nas �x��ts or insannce premiums. �.s tt�a caze malc be,when the .
<br /> ca psy t6t ne�t nx+�ti'i�i�sura�c pr�ium if this instrumene a�nd �shall becomc due and payi�blc.tban.tGa Bu�w�*stialt paY
<br /> the aoce�awed hecebY ue insured.a a munthty charBr lin lieu co thc[.ender any�maunt aeRSSarY ttv mak�u�:thc defiaeecY.on
<br /> ot s mortf+lre iresura»oe a�um)ii chey are held bY t►k a befare the date wtwrn paY�►enc af such�mund reau.tauces,
<br /> �Ctary of HousinE�nd�1r� ��eIopmec�t.�s foUaws: a��t�,�insurattce Pf�►iem&shaU.bo due.if at anY time
<br /> �i) yr�na�u�ra"nswed andtr the pro�i ian.�s ot'[ht N� p ovu�as of the no e�v zd htre6y,fi�ll�A tttrnt o�tix eu t e �
<br /> nxat are i�ired or .
<br /> tioM1 Ha�w�i�•��°nt Suffieiecit to accumutate ia ti�a indebcedness reprzse�►ted�heca6y:tt�a Lsnd�e tsf►all.in comput ng . .
<br /> 1�anda of tbe Iwider one(l�manordet o provide suchttwlder w tIh rawet a11 paYn►�►��b der tha p�,rn�'ri�ipsc°at()of�Ph .
<br /> mort�,sae iasur7moe Renu ed to pay to cix
<br /> � t'imds to PoY� P�ium to the Secretafy oi Housttsg and Uc-, 2S�e ary of�Houhs�ng and UrkanaLl�"vel�rrit.and anY bala�ce ro-
<br /> �p�r�lppmrnt pursuint to the�lational Housing Act.as m�����»g in tho fr�nds acvmuT�t��d uttdc�itse.piovisions of(b)of
<br /> �y�d��cftt appli�bk Regulations thaeunder:os P�a�ph 2 hereof- i5 thcn:sUall:bl•_a defr.suli under anY of the
<br /> (Il) If and sp long as said note of ecen date and this inscru- pro�i�ians af this in�tn�menr r+:s�t11in8 in a pnb6c salrat the ,
<br /> �� �t�W by the Secretary oi Hausin8 and Urban Dzvelop- p1e���ca��c�ed hcr�:b�; ar if tha P�cnder aWaires the propeny
<br /> otherwif�e aftr.r d+.fauit.,tbe Lendiii;shall appty.at �he dme of the
<br /> �t��monthly charge(in lieu a1'�monF,aBe insurartce premium) commrncement af such.pmce:�iba�.or at tita time the propertY is ,
<br /> wflich shall bt in an a�r►ount equal :�ane-twelfth(V t2)of one- o`�'���£e aeqnimd.[!tu ftaliln�;t11cn r�►n�f�u8'n�he fands ac-
<br /> t�alE(1/2)per antuae of the av�rage ouutanding balance due on
<br /> the note co�aPuted wi�mni taking into a:counc de!":nquencies or cumuletcd undet(.bt Q��Pr�ffr!rh.Z preeedins.as a credit aBainst
<br /> , chc amqunt-at�princip�L tfian,re+naining unpaid under said noce. .
<br /> prepsY�st � . '. L
<br /> �y.A.syay equ�l to!��:;�:��:�`*rr,�ts.if any,next due.Pi►u che and shall�Ptni1��3'�dlt�t�an;r�payments w6ich shall ha�•e been
<br /> made undc�c(ti).oE p�r3grsPh 2. � _
<br /> prensiums[hat w9I!next b�cr,���ihi�:•and paYable on P�llu�aoxes . � i• ,
<br /> fue and other hazasd irisu:8:c��aso•�ring the propertY.P 4. That[he Bcros:ier wdt•P�Y Sround rrar3s.tanes.asuasmenu. . --
<br /> and assessmenu next d ue on[h e p r o p e r t y (a 1 1 a s e s i i m a t e d b Y�he water rates.and o�her goccrmis!a'1 t a l o r m u n i c i p a l c h a r g e s,fines. –
<br /> L,enduj las aIl sums already paid thcrefor divided by the number
<br /> of months�or�aVse �°um�s'Tatcs aad�asseTSSmentshwidat�me here nbefo e.�as�d in defautt hereof the l.eadc may paY the same;
<br /> suCh�ound D �ld and that the Borrawer wiU promp[ty deliver ihe ofticial receipts
<br /> delinquent,sucb sums to be hetd by Lender �n trast to pay thenfo:to the l.ender.
<br /> �au�r�u� prem:c:ms.taxes and speciat assessmtnts;and
<br /> • ��� A�����u ����y;rrl�a��•in the tK•o D��dii�g subsections of s, The Borrower will�ay alt tares which may be levied upon
<br /> this pua8r�ph and�1'�:��'��io be made under�he note thc t-ender's interest in said real estate and impr4vemtnts.and
<br /> etrurM herebY s�-�added s�t�-her,�d che aggre8ate amnunt which may be kvied upon�hi�instrament a�the debt securcd
<br /> thertof shali be paid by the Ita.%�'er ea����i�nth in a:i���l'�Y• hereby i�����ty co t!se e!steat cha? �uch i.0 aa�t prohibited by lav+ _
<br /> ment to be app:ied by the Lender to che fbiloµing items ir. ci;a ;;���y only to eAe extent.that svch Wi1t no: st+.'�Sce this loan usurious}.
<br /> order set fonh: � i^�it c:xduding any iacomc tar, 5tate or Fedcral.imposed on
<br /> �
<br /> , , (q premi�:lt�charga under the contract af insurance with �h�hea�nde�' Upon�oiauon of th s undertak ngh or ii the ,
<br /> the$ecretuy oC Housing and Urban De�'elopment,ar monthly �nower is prohibited by anY iaw naw or herea[ter existing f'rom :�
<br /> chatre(in lieu ot mortgage insaranre premium). as the case may pay�n����W�o1e or any portion of the�fores�id taxes.or upon �
<br /> . be: , ehe rendering of any court der.rea prohibiting the payment by the . � �
<br /> (U)grounA•s��tsds. taxec,asse�sments. fire and oiher i,aeard g�{ioa•er of any such[axes, ur if such ta�e or @%zte?nrAvides th�; . __
<br /> insurusce premiuint.� :�ny amount so paid bY the Borrowe�shall be creditcd�:ua,i9He�detrt{ - ' . —
<br /> (���) interest on the nute srcured hereby: +Isc� Cxnder shall Nave the right to give ninery days'wnitt,�ii��?�:�.-=� _
<br /> r��ttie owner of the premise,,requiring ti?c�ayment of ti:e aeSt. '� °
<br /> ��{I)�mortitation of the principal of.s:iid note;a�d ��,��A�o��eci bte at he cxpirat on oP�id ni���aay au�, paYdb[e .,;
<br /> (V) Iate d�au�,rs. •
<br /> �y tkf'�ien�y ia che�mounc of such a�cegace momhly paY•
<br /> 6. Th�t should the Borrower fail to pay any sum or keep any
<br /> ment shall. unless made good by the Borrower priur to the due �ovenant provided for in�his instrument,then the Lcnder.at its
<br /> date of the next such payment. consiitute an erent of defauit op�inn, may pay or per(orm the same, and all ex{>enditures so
<br /> �o�ceed fourtcmts(4i)tor a'tch dollar(S1i of earh�aymen[not
<br /> " HU�9Z1430T
<br /> _� Page 2 0l5 ,. � i . ----
<br /> - U .
<br /> ' 3
<br />- � L � L J
<br /> � � �
<br /> .� y � +� .
<br /> �r..�r �1
<br /> ��;
<br /> � �
<br /> �� '
<br /> t
<br />
|