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<br /> 1{oROw�e���d I.eMtkr rn�en�M�nd�rec as inflaws: n�orc dtan �ft��.n �t�1 day, in arrcars ro ra�cr �he c�tra c�pct�,c
<br /> imofiitii in h;�mliing drlinqurnt paymems.
<br /> f'"' 1. 'fhat t3nnoHCr «iU �ay �he indctqcQncss, as hcrcinbcfatc
<br /> � prot-ld�d. Pri��teFr ia rc�en�r:t�o �,��• the deh� in whotr ur in part �. Thnt ii'thc t��tal uf the payments macte la��the Bosra�rer
<br /> on any 6nstallmem due dair. under lb)af paraaraph 2 preccdi,Lq shall ex.rcd ths amvunr of
<br /> p�y�itents actuatl��made by the Lencter for gmimd rents, E�res and
<br /> 2. Th�t. �o�ether v►ith, und in �dcliiian to, the monihly Assessments or insurWnce premiums. as the case may be.such ex-
<br /> PpY��s or prirtrip�f:ind intcrest payable under �hr terms oi the .�ess, ii'eAe toan is ct�trcnt,at !he option aF the Bor�awer, shal) bc
<br /> note sect�red hereby, the 8orro��er will pay tp the Lender, an the c�edited by the L ender un aubsequent paymems ta be made by Ihe
<br /> �rst d�y af each tnanlh umil �hr snid nou is fulty paid, the Rorr�w�er. at tcfu�tdeci to�he Bartow•er. IG hawe�•er, the mpnthly�
<br /> folbw;n�sums: paymeats made by thc BorroNer under(b)af paragcnph 2
<br /> (�) Amount suf6cicnt to pror•ide thr holdrr he�cc�f+cith t'unds pra�eding shall not bc sufl'icicnt to pay graund rents,[Axes and
<br /> to paY the cuxt monga�e insurance premium iP this instrument and assessmenls ar insuranoe prrmiums� as tne case mAy b�, when the
<br /> the r�ote secuted hercby are insured, or a monthly charge(in/icu �me shall bc�comc duc and ps►>Able, then the Na�rower shall pay
<br /> of a mongage insurarar premium)if thcy arc hcld by the to thc Lendcr any amaunt necessttry to make up the de�ciency. on
<br /> Secretary af Hausing and Urban pe�•elopment, as followc: or befare the date whan ppyment of such ground rents, laxes,
<br /> ascessments. or insuran��e premiums shull be due. IP at anp time
<br /> (1) If and so lang as said note of e�•cn date and this inst�u• the Borrowe�shall t�ndaP n� �hc Lender. in accordance Nith the
<br /> meut are insured or a�e reinsured undcr th:pra�•isions of the Na- provisions of�he�ate serurccf hq�eby, Puq paymcnt af che entirc
<br /> tional Nausing Art�en amaunt suificient to accumulate in the indebtedness represented�4�urtby,•the l.ender shall. in com�+uting
<br /> hands of thc holder one(11 mont�h prior ta its due date the annual the amount c�C sc:;h tndehcetiin�ca, credit t•�the aecvu�e�f�he 8�r-
<br /> mort�age insurance prrminm ia a�Tder to provide such 6older with row�er all pa��r�erts made undet the pror•isio�7s of(a)uf paragraph
<br /> funds to pay such premium so¢tte Secretary of Housing ar,�Ur- �hereot'which the Lender has�tot beeume obligated ta pag to the
<br /> ban De�etopmrnt pnrsuant ta ohe tYational Housing Act, ac Sc�entary of Housing and l�r�s�t De�•elop�ent artd nny t+afanee re-
<br /> amrnQed. and appSicabie Regulations thrreunder, o� maia�ing in thc funds accumulatcd undes the pro��isions of(b)aP
<br /> (tl) If and sa Iong as said note af e�en datr and this in�tru• 6�a:�eraph 2 hereof'. If�herc chall be a dcfautt under any of the
<br /> ment are heId b. the Secretary of Housing and 4rban thtiek��+- Pro�isions of this instrument resulting in a publir sale of the
<br /> mmt,a monthl��chargc(in{reu o!'a mort�eare iilsarancr premiuml Premises co�eee�i heret��, or if the Lender acquires the properiy
<br /> which shall br in an amount equal to une-twcll'th (1/12)of�mc- Uthcvwise after defau[t, the Lende�shaU apply, at the time of the
<br /> half(1!2)per anium oP the a�rrage outstanding balance due on �'�mmencement of'such proceedings, or at the time the property is
<br /> the note computed without taking into account delinquencies or o�herwice arquired. the balanee then �emaining in the funds ac-
<br /> prepaymertts; cumulatM under�b)of parag�aph 2 prcti�eciing. �s a credit against •
<br /> the amoun� af principal thcn remaining unpaid under caid note, j
<br /> (b) A sum eyual ta the ground rents, if any, nert duc, plus thc and shall praper(y adjust any pa>•mrntx �►hich shall have been
<br /> premiums that will next becomr due and payable on �mli�iec of made under (a)nf paragraph 2. , -
<br /> fire and othcr harard insuranre cosering ihc propcny, plu� iarc. � � .�-
<br /> and assessments nezt due on the property/alJ a� crtrmatcrl b� ihe a. �th,tt thc {iorr��wcr w�ll p�y Ftaund rrntc, tatr�, asscstimenta. •
<br /> Lcnder)kss aH sums aln�ad�• paid �hcrcfo� d���dcd b�• thc numlmr �a�cr �;����, :,n,i.,,n�. o�..;;=;;wr;�;�;�;�����`�_��d��� ��t�c,.
<br /> oi months to elapse heforP�n�(1)month pnUr �o thr d�te when ctir impc►sition., 1'�►r which pro.ision has not bctin made -
<br /> such ground rents, premiumti, tare�and acscc,ments ..ill bcromc hcrcinbcforc, a��d in default thc�ruf Ihe l.ender may ray thc same:
<br /> delinquent, su¢h sums to be held by 1 ender u� trust tu ray ca►d �md th-rt Ihe Borrawer �ull prumptly deli��er the offirial receipts
<br /> ground rents, premiums,ta�es and sprcial asce�,.mcm�; and ihcrefor to thc t.cndcr.
<br /> (c) AU payments mentioned in the tw�o prereding subsections of
<br /> this paragraph and all payments to be made under the note S• Tlie Borrower w�ill pay all �axes ahich may be levied upon
<br /> se�eured htreby shall be added together, and the aggrcgate amoum �he Lender'c intcrest in said real e.tate and improvements, and
<br /> therrnf shaU be paid by the Borrouer each month in a single pa�- `�hich may be levied upan this instrument or the debt secured
<br /> mcnt to be applied by the Lender ta the following items in the hereby (but only to the ertent that such is not prohibited by law
<br /> order set forth: and onfy to the extent that such wiU not make this loan usurious). �
<br /> but ezcluding any income tax. State or Fc�ieral, imposed on =
<br /> (p premium charges under the contract nf insurance w�th Lender, and will file the officiat receipt showing such payment �
<br /> tht Serretstry of Housing and Urban Development. or monthty with the Lender. Upan ciolation of this undertaking, or ii the
<br /> charge(in lieu of mortgage insuranre premium), as the case may Borrower is prohibited hy any law now or hereafter existing fram —
<br /> �' payin� !he whole or any por[ian of the aforecaid ta.res,or upon
<br /> the rend:rin of an court decree r g p y y �
<br /> (!1)grourtd rents, taxes, a�,essment�, fire and other harard g Y p ohibitin thc a •ment b the �
<br /> insuranee premiums: Burruwer of any such taxes, or if such !aw or decree pro�•ides that �`;�
<br /> any amount so paid by the Borrower shall be credited on the debt. �..�
<br /> 1I11) interest on the note �ecured hereby; the t_ender shall ha�•e the right �o giti•e ninety days' ��ritten noticc `
<br /> q� amortization of the principal of 4�id note; and ��'��r owncr of thc premises, rcquiring the payment of the debt.
<br /> If such notice be given. the said debt shall become duc, payabte
<br /> (V3 latc charges. and collenible at the expiration of said ninety days.
<br /> Any def'iciency in ehe amount of such aggregate monthly pay-
<br /> ment shall. unless made good by the Borro�rer prior to the due 6. That should the Barrow•er fail to pay any sum or keeQ any
<br /> date of the next such payment, constitute an e�ent of default �bvenant pro��ided for in this instrument, then the I.ender, at its
<br /> under this mort�ga Thr landrr may collect a '•late rhargr" no: °P�'°n, may pay or perform the�amc, and all expendiwrr,�.ru
<br /> tv exezed four cents(4�)for taeb doltar(SI)of each payment
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