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<br /> _._. � 89-. 105930
<br /> B��tniwer�nd i.ender ca��entnt�nd�ree�.s 1'MMw�s: n►u�o than fiftccn {IS) day. in arrcars tu.y�vrr thc r�cua cxpcnsc
<br /> i»+at�cs en Lat�Jlittg rlelir►t�uent ��ayntcnts,
<br /> , 1. That l3arro�rer aill pa> Ihr indebicylness.a, hcremhef�•rc
<br /> provideQ. Privikge is resened ta ��v the debt in whrlr as in part .i. rnat if the tat�l.�t the paymenis u?adK hy the li�rro�•cr
<br /> on any instaltment due date. undar(bl of paragraph 2 prcceciing slsalt excec� the a�nount of
<br /> paymcnls aclually made by the Lcnder �'q;g�ound re�ts, taxes and
<br /> 2. That, tojether wilh, and 1n addition to, the montht�� assessmenta or insuran�r phmiums, as�hs case ma>� be, such ex-
<br /> pAymrnts of principal And interest payabte undcr thr terit�s of thc ress, if ihe Ioan is�urrcnt.at the a�tio;1 af Ihe 8orroN�e�. shall be
<br /> note aecured hereby, thr l3orroWer H•ill pay to.thc l.ende�, on the c:��dited by the l.cndcr un subscyucnt paymrnts to be made by the
<br /> f:rst day of earh month until the said note le� t'u1IY}+aid, the Borro�•rr, or refundrd to tt�� Borrower. IP, however. the monthiv
<br /> follawing suras: pa�mcnts made by {he eor:ower unckr(b)of paragraph 2 �
<br /> (a) Ampunt sufficient to provide the hotdt� hermt with funds Prcroeding sha�1�pA tK sufficient to pay grou�d rents. taxec and
<br /> to psy idc nait monga�e insurAnce p�emium if tl?is instrument and �sment.r o� iz�vGtanre premiums. ac thc casc may be,when the
<br /> the aate serured Uereby are insured, or a munihly charge(in licu �unc shall be��me due and payable.then the Borrower shatl pay
<br /> of a mortgage insurance premium)if they are held by the ��the Lender any arnount necc�ssary ta make up the deficitncy.on
<br /> Secrctuy of Housing and Urban Devrlopment, as follaNS: �v bePorc the date when payment of such ground rcnts,taxes.
<br /> a.�.�essments. o� insurancc premiums sha11 (�c due. if at uny time
<br /> (1) If and so long as said �ote of cRrn datc and thix ins[ru- the Borrower shall tender to the Lende�r, iq.accardartce with the
<br /> Rtent��o lnsurcd or are reinsuted under the�rocisiona�•8 thc tia- pro��isions uf the nate securcd hcreby, fqll;payme�t af the e�uire
<br /> , tiastal Y.aus�rg n�i. an a�uuunt sufiicient w accumutate i:�the indebteciness represented thereby. thc Lender sh:ill. in rnmputing
<br /> hands of the halder one(I)manth p�iut a•its due date the annual the amount of such indebtedness,credit to the account of the Hor-
<br /> mort��e insuran��e premium in order ta pcavide such holder wich row�er all payments made under thr provisions oP(a) of paragraph
<br /> funds to pay such premium to the Secrt�.�s�y uf Hausmg and Ur- 2 hereof whicb the Lender has not become obligated to pay to the
<br /> ban De�eloprnent pursuant to the National Hausing Act, cis Secretary of Hausing and Urban Development and any balance re-
<br /> amended,and applicabls Regulations thereunder: or maining in the funds accumulated under the provisions of(b)oP
<br /> (11) If and so long as�aid ttote uf e�en date and �hi�instru- Para�raph 2 here��f. IP there shall bc a default u�der any uP the
<br /> ment are held b>•the Secretar� of Housing and Urban De.elop- P�ovisions af�his insirument resulting in a publir sale of the
<br /> mrnt.a monthly charge (in lieu vf a monga�te;nsuran�t nremium) �{emises oo��ered hereby, or if'the Lsnder acquires the property
<br /> which shall be in an amount eq�al to onc-twelPth (l:12)of one- �!�herwise after default, the Lender shall apply, at the time of'the
<br /> hatf�(1/2)per centum of thc a�arage outstanding balan��e due on �Ummencemem of such proceedings. or at the time the property is
<br /> the nvte computed w•ithout ta3:iitg into account delinyuenries or ��thera•ise acquired. the balance then remairling in the funds ac-
<br /> prepaymrnts: cumulated under(b)of parugraph 2 pre�eding, as a credit against ;
<br /> the amount of principa!t1N:�remaining unpaid under said note, �
<br /> (b) A sum equaf to the ground renis, if anx, neat duc, plus the and�hall properly adjust a��•payments whlch shall hace been
<br /> premiums that will aext beeors:e due and pa�abie on policies of made undcr(a►of paragraph 2. ,
<br /> Gre 2nd other h;vard insuran.ce iOVCrislg (hC piUp�ily, pl�s taxes �� �
<br /> - on wcc«<.�.�.t�we R������,��R F,�vj'i.'ii'j�a'ii a'3 c�iiitinicv�r�•titC �. t�13i 1�1� �sorroa•er wip p;�y �round rents. lil.rfS, as.sc�.�ments. � ._
<br /> LenJer)irss al) sums alread} paid theretor di�•ided by the numbet wa�er rates.and ather go�•ernmental or municipal charges, 6nes, _
<br /> of months to clapse beforc one�1)month prior to �he date when ��r impositions, for which ptovision has not been made =
<br /> such ground rents, premiums. taxcs and assessments will become hereinbefore, and in defau!t thcreof The l.ender may pay the same;
<br /> delinquent, such su�ns ta L�e held by Lender in trust to pay said and that the Borrow•cr �viU prompt{v deli�'er the official receipts
<br /> grou�d rents, premiur.is, ta.res and special a�aessments; ar.d thcrefor to the l.ender.
<br /> (c) All payments mentioned in the t�+o preccding subsectiom�.t'
<br /> this paragraph anct aU payments to be made under thc note S• Thc Qo�raa•er w�ill p�>>ali�ta�ces a�hi�h may be levied upon
<br /> secured hereby shatt be added together, and the aggregate amount the Lcnder's interest in sai�!rea]cstate and improvements, and
<br /> thcreof shall be Faid by the &�rraHer each r.ionth in a cinglc pa�• ��hich may bc le�ied upon this instrument or the debt secuted
<br /> ment to be appliecl by �he l.ende� to the following items in the hereb}• (but on�ti to the e+etent that such is not prohibited by law
<br /> order set fonh: and only to[he ettent that such will not make this toan usurious),
<br /> but cxcluding any income tax, State or Fcderal, impased on
<br /> (1) premiUm eharges under the contract of insurance Hith Lender, and H•ill file the ofGcial receipt showing such payment
<br />, the Sectetary of Kausing and Urban Devetopment, or monthty aith the Lender. Upon violation of[his undenaking, or if the =
<br /> chatge{in lieu uf trprtg�ge insuranre premium), as the case may Borrpwer is prohibited by any!aw now ot hPreafter existing Prom
<br /> �� paying the w�.ole or any portion oi the afbresaid taaes,or upon ,°9"-
<br /> ;,._
<br /> (Il)ground rents. ta�es,a.�sessments, fire and oth�r hazard �he rendering of any court decree prahibiting the payment by the
<br /> insuranee premiums; &'►rrower of any such taxes. o� if such law or decree provides that I�.
<br /> a�,v amount su paid by tlt�: Hotrower shall be credited on the debt, � �-�
<br /> (III) interest on the note szcured hereb}�; che Lender chall ha�e the right ta give ninety days' �tiri[ten notice �
<br /> (11� amonization of the principal of said note: and �o the owner of the premises, requiring thc payment of the debt. '
<br /> If wch notice be gi�en, the said debl shall become due, payable
<br /> (V) late charges. and collectibie at the expiration of sai�ninely days.
<br /> Any dtficiency in the amount of such aggregate monthly� pay-
<br /> ment shall, unless made good by the Borrower prior to the due �• That shouid the Borrower fail to pa>any sum ur keep any
<br /> date of thc nexc aich�+ayment..censtitute an e�rns of defauit cati�en3utt provideJ fur in this instrumertc, rhe�� the Le:�der, at its
<br /> under this mortgage. The Lender may colle��t a "late charge" rtot option, may pa> or perform the same, and aU expenditureti so
<br /> to ex¢ecd four cents (4d) for e�ch dollar(SI)of ea�h papment
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