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<br /> �01TOIYH�IN) L.Mdt�CO�YQ1111I YIIlI Y�fl'!t5�AIMM5: marc�han fiQcro(ISl da)�� in arrca�s tc,crncr thr e��ra r�pcn�r
<br /> � imohed in handling dciinqurnt puymr��h.
<br /> !. That Bc►rrou�c� will pa� the inckbteaaess,as Itcreinbefore
<br /> pravickd. Privilegc is resen�ed to{'ay thr dcbt in aholc or in part i. Tl�a► if ihr tntnl u`thr paYuirn�s made Ny �he lkuro���cr
<br /> an any instailment due date. unde�(�+)��f para�raph 2 Urccrding shall cx�red the amount of
<br /> paymems actualty mnde by thc t.endcr far�raund rrnty. �uxes ond
<br /> 2. That, tagaher with. and in additian to. ihe monthty assessments u� insurance p�emiums.as the case may be. such ex-
<br /> payments of p�inclpal and interat payable under the terms of the cess, iP Ihe loan is current.at ahe uptian nf the �or�ower, shat) be
<br /> note securcd hereby, the BoRaw•er ��i�l pay ta the Lcnder,an thc crcditeci by the t.endc� on subsequent payments to be mAdc by the
<br /> fi�st day ot each month until thc said note is fully paid� thc Horrawer, ar refunded ta the i3orruwer. IP.howcvcr� �hc manihly
<br /> foibwin�sums: paymrnts madc by thc Bonuwrr under 1b)oi'paragraph 2
<br /> (a) Amount suitkient to provide the halder heteuf with funds Prcceding shal! not be auificicnt ta pay Si�und rents. taxes and
<br /> to p�Y the neat mon6a�e insurance premium iP this instrument and assessments or insu�ance premiums,av the case may be. when thc
<br /> the note secured hereby are inswed. ar a monthip charge(in lieu 'Rme�hap became due and payable,then the fiorrower shall pay
<br /> of a mort�a�e insuranoe prcmiurrt)if they are held by the «�he Lende�aoy amaunt necessary ta make up the de�ciency. on
<br /> Secretary of Housing and Urban Dc��elopment, as faUow�s: or befare the date when payment oi sach g�ound�ec►is. taxa,
<br /> assessments, or insurance premiums shall be due, lf at any timc
<br /> (p If and so tang as said nate of e�en datc and this inst�u- the Borrower shall tender to the Lender. io accordance with the
<br /> meat�ue insuced ar are reinsured undrr �hc pravisians of�he Na- pror�isions at the note secured hereby, full payment af the entire
<br /> t9onal Housing Act, an amaunt sufficient to accumul�te in ehe i�debtedness represented thereby�the Lender shall, in computi��
<br /> hands oP the Iwlder one(1) month prior co its due date the annual the amaunt oi such indebtedness, credit to the accouat of the Boc-
<br /> mortja�e insurancc premium in ordcr to provide such holder with row•er ap payments made under the provisions of(a1 oP paragraph
<br /> tunds to psry such premium eo the Seaetary of Housing and Ur- 2 hereof which the Lender has not become abligated to pay to the
<br /> ban Development pursuant to the National Housing Act,as Secretary of Housing and Url�Develapment and any balance ro-
<br /> amended. and applicable Regul�tions thereunder; or maining in the funds accu�c�rwtit under the provisions of(b)of
<br /> (I!) If and so tong as said �ote of even date and chi� in�tru- Paragraph 2 hereoP. IP�here s�e[ be a deSault undcr any of the
<br /> ment ue held b the Secretary of Housin and dlrban Decelo - Provisions ot this instru�neRt rzsuiting na a public sale of the
<br /> ment.a monthly charge(in lieu of a mo gage insurance prrmiuml Premises covered hereby,c�r if the Lende�acquires the propeny ;
<br /> wlsich shail be in an amount equa! ta one-twelfth(1/12)of onc- othen�isc after defauit, che fi.ea�der shall apgly. at the time of the
<br /> , commencement of such ����x.�ings,or at the time the praperty is ,:
<br /> half(1!2)per centum of the average ouutanding balance due on otherwise acquired. thr C�:�iya�then remanning in the funds ar • . ��:
<br /> the nott computed withaut taking �nto account delinquencits or cumulated under(b)of paea�.ra�h 2 pre«:cti�. as a credit against .\c`�:
<br /> pfe��cntnts� the amouiu of principal ih.a remaining u�aid unclnr said note, •:_;��•>,;
<br /> (b) A sum equal tu the ground rents, if any. next due.plus.che and shall properly adjust att} payments which shall have been `::-�`-`
<br /> premiums that will next become ciue and pay�able on policies oF inade under (a) of paragra�rte�_ j'`=-
<br /> fire and other hazard insurance covering the property. plus ta�ces ' � R�
<br /> and assessments next due on the properiy(all ac estimated b}•rhe 4. That�the Borrower �vil[pay ground rents, taxes, assessments,
<br /> Lendrr%iess ai1 sums aI�ady paici ii�acio, ui�;��i.y t�e��um�r wat�r:at:�.an�atk.r gu::rn^:rr.:�l�s snunlci�a!sharees, fine�.
<br /> of months to elapse before one(l)month prior to the datt when or impositians, for which provision has nat beeu made .-�
<br /> such ground rents.�remiums, taxes and assessments wit! become hereinbefore, and in default thereof the Lender may pay the same; ,
<br /> delinquent. such sua�s to be held by Lender in trust ro pay said and that the Borrower witl promptly deliver the official receipts
<br /> ground rems. premi�ms. taxes and special assessments; and [herefor to the Lendcr.
<br /> (c) Aq payments mentioned in the tao preceding subsections of 5. The Borroa•er will pay all ta�ces which may be levied upon
<br /> this paragraph and all payments to be made under the note the Lender's interest in said real estate and improvements, and
<br /> secured hereby shaq be added together, and the aggregate amount Which may be levied upan this instrument or the debt secured
<br /> thereof shall be paid by the Borrow•er each month in a single pay- hereby (but only to the extent that such is not prohibited by law
<br /> ment to be applied by the Lender to the following items in the and only to the extent that such will not make this loan usurious),
<br /> ' � ordtr sec forth: but excluding any inmme tax. State or fiederal. imposed on
<br /> (1) premium charges under the contract of insurance with Lender, and wi{I file the official receipt showing such payment
<br /> the Secrrtary of Housing and Urban Development, or monthly with the Lender. Upon violation of this undertaking, or if the
<br /> ehuge(in lieu ot mortgage insurance premiam).as the case may Borrower is prohibited by any law now or hereafter exisiing from =
<br /> y�; paying the whole or any portion of the aforesaid taxes, or upon �"
<br /> (ID ground rents, taxcs, assessments, fire and other hazard �he rendering of any coun decree prohibiting the payment by the „.
<br /> inswance premiums• Borrower of any such taxes, or if such law or decree provides that �,_
<br /> • any amount s�r Raid by the Borrower shall be credited on the debt, —
<br /> (II!) interat on the note secured hereby; the Lender sh�LEl;a��e the right to give ninety days' w�ritten notice :
<br /> (!V) amortization of the principal of said note:and �fl�he owner ef the premises, requiring the payment of the debt.
<br /> 1f such notice be�icen, clte said debt shall become due. payable
<br /> (V) late charges. and rollectible��the expiration of said ninety days.
<br /> Any detieirncy in the amount of such aggregace mon�hl��pay- 6. Thac shauec�cFe Borrower fail to pay any sum or keep any ,
<br /> mtr�a shall,unless made good by the Borro���er prior to d�due covenant provided for in tt�8s instrument, then the Lender, at its
<br /> da'te of the next such payment. constitute zca��ent of defavlt
<br /> • under this martgage. The Lcnder ssay cu:t.-:s "late charge" not option. may pay or perfa��ye same. and all expendicurex so
<br /> ' to accad four¢ents (4d) for each dollar(St i of each p��ment ; , . ,.
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