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<br /> 89--r 105�61
<br /> lM�towef�d I.e�tr ca�e�r�1 Med rkrt�c a� foN�oNy: tn�rr �liao fift�y�n ll�I duy, m arr�arti tu.���cr chr c�c�ra r�{xnsc
<br /> r inv�►t��f in h,mdlin� dritrtqucnt paymcnts.
<br /> t. Tha� &+rro��er aill pa>� thr indehicdncss, as ItCtCiniktiuc
<br /> providcd. Nriwlege is tese�ed to pay the debt in witole or in pvrl i. That iP the lo�a!uP i1�4 paymKn�� m�ide hy �he ��r«kcr
<br /> un any installmrnt dur datc. under (b1 nP paragraph 2 preceding shall nxta�ecl �IK amoum ��f
<br /> pa��nents actuAliy madc hy�hr i.cnde� fi�� g�ou�tJ reats, ��xes and
<br /> 2. That. tc�dhe� N�ith,unQ in ackli�ion to. the munthly assecsment��r insurance prem�um�.as the case may br. sueh,ex-
<br /> poymrnts of principal and interest p�yablc under thc termv of ihc .cas, il�hc loan is ciurcnt,at thc optian oP thc Barcaw•er, shull be
<br /> note secured hcreby, the Rarrowcr w�iU pay to�he 1.cnde�, an �hc �redited by �hc Lende� un tiuhsequenl paymcnts tu he made b�• the
<br /> first day of each month until �hc xaid nate is fuUy {�:�id, �he l3cirrowcr.o� tcfuncfed tu thc BarraNer. If. how�c�•cr. thc manthty
<br /> falbwinj sums: paymcros m�dc by thc Uc�rrawer unde��b)af paragrapt� 2
<br /> (a) Amount sufficient tu p�avide ihe h��lder he�euf Kuh funds Dreccding chall nat tx sufficicnt ta pay graund rents. taxes and
<br /> to p�y the ne;t mangage insu�ance premium iP this instrument and assecsmrnts o�insurancr prcmiums,as the cas� may be. when the
<br /> the qate xe�cured hercby are insured. or a monthly charge�in lieu ��mc shall be.r�mc due and payubk,thcn thc Banuwer shaU p�y
<br /> of a martgaae insuran��e premiuml ii ihey are held by the �o the Lcnder any a�nount nccessary to make up the defiricacy, on
<br /> Secrrtary of Housing and Urban Ikvelopmcnt, i15 �OII01►A: n� �fore the datc when pxyment oi'stkh graund rents. taxcs,
<br /> �u5e.r`ments, or inxuean�r premiums shall be duc. If at any time
<br /> (U If and so ton�as said note of cren datc and this ins��u- the I3orroNer shall tende� to thc Lcnde�, in accordance with the
<br /> �nent ue insured or arc rcinsurM undtr the pro��isions of the Na- p�u�isians uf the note secureJ hereby, fidl payment oi the entire
<br /> tianal Housir� Ac�, an amount 3ufficiem to ac��umulate in �he indebtedness represented �hereby. �he Lender shall,in computing
<br /> hands of the holder one(I)month prior to its due date thr annual the amount of surh indebttdness, credit to the account of the Bor-
<br /> morttase insuraruce premium in order to provide such holder�vith roHer atl paymcnts made urtdcr the provisians of(a) oP paragraph
<br /> funds ta pay such premium to the Secretary of Hou.ing and L�r- 2 hereof which the l.cnder has not become abligated to pay to the
<br /> baa Developmertt purs�ant tu ehe National Hausing Act, as Secretary of Housing and Urban De�•elopment and any balance re-
<br /> amended.and applicabk Rcgulations thereunder;ar maining in ehe fund�arcumul�ted under the pra�isivns af 4b)of
<br /> pl) If and sa tong as ssid nate of cti•en date and this in�tru- �'•�ragraph 2 hereof. If there shall be a dcfault under any of the
<br /> cn�nt are held by the Secrctar> ��f Nousing and Urban ik�etop- Rru�itiians of this instrument re�ulting in a public sule of'the
<br /> ment. a �nunthiv charge (�n l�ru of a morr��c insurancr premruml Frcmises cm•ercd hercb>,or if [he Lcndrr acquires the prapeny
<br /> which shall bc in an amow�t equal to one•twelfth Ilil2f of onc- �'the►aise after default, the Lender shall apply, at the time af ihe
<br /> Ralf(1/2)per cece:um of the a�rrage outstanding balance due on �nmmencement of such proceedings.or at �he tirne che propeny is
<br /> the nate compu;�d without taking into aecaunt delinquencie�ur otherwi�e acquired, the balance �hen remaining in the funds ac-
<br /> re s cumuluted urtder(b) af paragraph 2 prsreding. as a credit against
<br /> p p ymrnts; �he amount oP p�incipal then remaining unpaid under said note. ��
<br /> (b) A sum equ:! to the ground rents, if a.ny, next due, pluc the and �hall properly adjust any payments «hich shall ha�•e becn
<br /> premiums that wiil neit become�ue and p�yable on policies of made under (a)af paragraph 2. �...:'
<br /> rre and other hazard insurance cocrring the propeny, plus taxc�c -
<br /> ana assessmems nex[ due on ilte pro�+er[y/atl as cstimated by nc� �3. 7"hat the F3orrowcr will pay gsound rents, cates. assessmen[s.
<br /> l.endeN las al1 sums already paid therefor divided by the number .�ater rates, and other go�ernmental or �nunicipal charges. tines, �?
<br /> of months to elapsc befure one ll)month prior to the date�.�hen or �mpositions, for i�hirh �rovision has rtot bern made
<br /> such grouod rems. premiums, �ares and assessments «�U berome hereinbefore, and in default thermf the Lender may �ay the same;
<br /> deGnquent, such sums to be held by Lender m trust to pay said anJ that the 13orrowe� ��ill promptly deli�er the offi�-ial receipts
<br /> ground rents, premiums, taxe� and.pecial asscssmenu; and thcrefor to the Lcnder.
<br /> (C) All payments mentiunec! �n the I�o preceding ��n.��n�o�,. ��r s. rn� Bc�rrow•er wiU pay all taxes»hich may he levied upon
<br /> t[ti�.paragraph and all paymrnts to be made under the nute thc Lcnder'ti interest in said real e�tate and im ro�ements, and
<br /> secured heteby shall be added together, and the aggregate amount ��hich may be lrvied upuR this instrument or the debt �ecured
<br /> thereof shall be paid by thr Borrower each manth in a single pay- hereby (but only io the ex:ent ihat such is not prohibited by law
<br /> ment to be applied by the Lender to�he fotlnwmg ncros in thc �nd only to El�r cxtent that such wi)!rt�t make this loan usurious),
<br /> a�kt set foRh: but cKCludin� any� incomc tax. State or Federal. imposed on
<br /> (1) premium charges under thr eontract of inyurance ��i�h lender, and will fite the offirial recei� showing such paymen[
<br /> the Secretary of Housir�and Urban Development, or monthly �rith the Leader. Upon violation of this undertaking, or if the
<br /> chuge(in lirn c�f mortgagr insuran�r premiuml, as the �ase ma> 8orrowcr is prohibited by any laa� now or hercafter e�isting from �_
<br /> be: paying the whole or :u�y portion of the aforesaid [ares, or upon ''`
<br /> (ll)ground rents. taae�, a.tise�smems, f7re and other harard the rendcring uf any court dr�vee prohik��ting the payment by the —
<br /> insuram:e premiums; Borrower of any such taxes, or if such Law or decree pror•ides thae -.
<br /> any amount w paid by� the Borrower shall be rredited on the debr,
<br /> (llt) intcrest on the notc secured hereby; ihe I.ender �hall ha�e the r�ght to give ninety days'«ritten nuuce .
<br /> qV) amonization af the principal of said notc: and �o thc ouner oF �he prem»��s, rrquinng the payment of the debt.
<br /> If�uch nurix be gi�en, the+aid de6t�hall becume due. payable
<br /> (VI late charges. and co1lc�:ciL�t�at [he e��iration of said rsinety days.
<br /> Any deficiency in the amount of such aggregate monthly pay- 6. That tihould the Borrower fail to a �n sant or I�ee an
<br /> ment shaU, unless made goal by !he Borrow•er prior to the due coe•enant provided for in thi�inctniment, then the 1�nder, at it
<br /> date of Q►e ncxc �ucii �aymr�Tt, �-onstitute an ccent of cicfauit
<br /> uttda this rtsottgage. The l.endet may collect a `•late charge" not opt�on, may pay ur perlurm the same, and all expenditures so
<br /> co exceed four cents(�) for each dollar ISIf of each paymeni
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