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<br /> ' 103518 �E�+�cor�n�u
<br /> 89� t: 89--�06339
<br /> ; BarroNer and l.ender coYenan�aad aRrec av toltaNS: m��rc iha�t !'ifircn 11�)�laX, ii� :urcar. tu�a�rr �hr ���u:► r���ti�n,c
<br /> � imol�•ed in ha�ndling �Irlinqurnt pa}�mrm�.
<br /> 1. That Borrawer wi11 �y the indebteciness,�c hereinbefore
<br /> provided. Privilege is resen•ed ta pay ihe debt in ��•hole��r in part 3. That if Ihe iotal af thc payments madc hy thc Horr��ver
<br /> on any instaqment due date. under (b)of paragraph? pre�rding shall errc�ed ihe am��um��i�
<br /> payments nctually n�ad�by dic l,c»der Pot�round rents, �axes and
<br /> 2. That.tvgether �vitlh,aad iii ac�c9icir�te, �h. �n�,cxcAh• accessments ar incurnnee pTemiums,as the ence m��y be, surh rx-
<br /> paymenis of principal�,�caxter�st �a}�aD1N ua�der a;�z terms of the ress, if�he loan ic cur�ent, at the aptian aP the Barro���er, shAl) be
<br /> n6te secured heirby. I�t��ta�!Tp1YQP \tpU��' fP II�7a Ur:cder. on the �redited by the Lender on subcequcnt payments to be made b�• the
<br /> �rst day of each munth u:�:i thc saic�rto:e is k'u:�►•�id. the �orro�ver, or rePunded to the BorroHer. If, hawever. the monthly
<br /> foUowi���Ums: payments made by tC�e Borro��•er under(b)of�aeag�aph 2
<br /> (a) Arrtoiant sufGciem ta pro�•ide the holder here�*i «ith funds Preceding shall n�•t 6�sufficiem ro pay ground rents, tarc�and
<br /> 1��pa}•the aa�t mortgage insurance premium if this instrument and ���ments ar insuran�r p�emiums,as thr case may be, ��het� the
<br /> the note secuied hereby are insured, or a monihl�•charge (in/i:•u SAme shall become due and pa}•able, tfien the Barrower shaU g+a�
<br /> uf a mort�a,re rnsuranc�premium) if Ihe�� a�e hetd by the «�he Lender an�am�unt necessary tn make up the deficiene�•. on .
<br /> Secrecar� c�f Housing and Urhan De��elapment,as fullu��•s: ar before the date��hra payment of such grpund rents, taxes,
<br /> assessments, or insurance premiums shall be due. !f at am :inte
<br /> (p �i and so long as said note ot'eeen date and this instru- the t3ur�rn�•er shall tender to the Lender. in arcordance��ith the
<br /> mem are incured or are reinsured under the pro��isians of the Na- pro�isi��ns oi'the note secured hereby. fuU payment of the en�Ke
<br /> iional Haasing Aci, an amount sufficient ta accumutate in the indebtedness represented the�eby, the Lender shall, in computing
<br /> hands of ah�holder one (1)manth prior to its due date the annual the amount oP such indebtedness, credit to the�,:count of the Har-
<br /> � mortgage 6�tsurance premium in order to pro��ide such holder ��•ith ro�cer ap payments made under the proeisi�ns,af�a)of paragraph
<br /> funds ta��such premium to the Secretary of Housing and ltr- : hereof�vhich the Lender has not bccome oblig�ted to pay to the
<br /> ban DeveI�pment pursuant to the National Housing:��t. a. Secretary of Housing and Urban De�elopment and any balance re-
<br /> araended, and applicable Regula�ions thereunde, or mainin� in the fun,1. a�cumulatr�i under the pru�i+ion�of(h)ot'
<br /> � (If1 lf and so long as said note of r�rn date an�3 tj»�in:tr;i- Daragrapfi 2 h�rc�f. if there sha11 F�r a drfault under am• of the
<br /> , ment aze held by the Secretary of H�vs�n� an.�!'rran De.elap- I'ro�isions uf thi. in.tsumcnt rc�uiFing in a publir sale uf the
<br /> nRe�at, a n:onthly charge �in /ie�r rt a.n:t�:tA.�se:^surar.�Y premit:m.► 1'rcmix�s:o�ered herehy, or if thc Len�ier acquires the propen�
<br /> ehich shall be in an atnoLr.t aquz�tr one•t�.e�2,h (! }?)of ore- �therni;e;�iter default. the Lender shall arph�, at the time of the
<br />" haif�1��)per ��ntom��':•'.::a�eras�a�uts�anc!?n� balartce due on �O"D�t°eement of such proceedings, or at the t+me thc prorr�zr is
<br /> ,• �the�«i�e acquired, the balance then remaining in the t'unds ac- •?
<br /> che noEe�-e�.��uted�i�E¢zr;:i ,ai�irtg��,��u:r..�uni a:>>r.�uencies or �umulated under (b)of parasraph 2 precedtng, as a credit against
<br /> prepaymec�¢s; the amount of principal then remaining unpaid under said note. '
<br /> (b) A sum equal to the ground rems, if any, nex� duc. plus the and shall properly adjust any payments which shall have been .
<br /> premiums that �vill next become due and payable on paliciex af made imder 1a1 of paragraph 2.
<br /> fire and other hazard insurance co�•ering the property, plus taxes ,. ..t
<br /> and assessments next due on the property (all as esrimated bp the �3. That thc H��rrrn�cr ��ill pa��bround mnt�, Ia�e�, asacs�ment�. _�--�=
<br /> � LendeN less all sums already paid therefor dieided h�• the numher ��atcr ra�e�, and othrr go�ernmental or municinal charges, fines, o —
<br /> of months to elapse bcfare one(U month prior to thr date Nhen ��r impo�itium, for ��hich pro�i.ion ha.n��t hcen made �
<br /> such ground rents,premiums, ta�ces and asscssments���ill be�ome hereinbcfar�, and in defaidr thrrrof thc Lende� may pay thc�ame;
<br /> delinquent, such sums to bc held by Lender in trust to pay tiaid and thai the 8urru��rr ��ill ��rumptl�• .irli�rr thr olfi.ial rercipt. °
<br /> ground rents, prcmiums, taxcs and special a�sessments; and therefor ta �he I.enJcr. , �
<br /> (c) All puyments rnentioned in �he t�ca preceding subsection5 of �, �he Botro��er ��•QI pay all taxr� «hirh may he IetiieJ upon �•�
<br /> this paragaph and all payments to be made under the note �he 1_ender's interest in sa�d real c+tatr and impra��cmentti, and ��
<br /> secured hereby shall be added together,and the aggregate amount ��hich ma�� be le�ied upun ihis in.rtrumrnt or the debt ,ecured
<br /> thereof shall be paid by the Borroiver each month in a single pay- hereby (but unly ta the e!ctent �hat such is not prohibited by la..•
<br /> ment to be applied by the Lender to the following items in ihe and only to the extent that such �aill not make �his loan usurious),
<br /> order set forth: but excluding any income tax, Siate or Federal, imposed on
<br /> � (1) premium eharges under the contract of insurance with l.ender,and �vill �le the of�cial receipt showing such payment
<br /> the Secretary of Housing and Urban De�•elopment, or monthly �+�ith the Lender. Upon ��iolation of this undertaking, or if the
<br /> charge(in lieu of marrga�e insuran�•e premium), as the case ma3� Borro«•er is prohibited by any !aK no�+ ar hercafter cxisting from
<br /> be: payin�e the whole or any portion of the aforesaid taxe+, or upon .�
<br /> (11)ground�ents, taxes, assessntents, fire and other hacard �hr rendering of any court dreree prohibiting the pay►tiient by the „ -
<br /> insurance premiums• Borro��er of any such taxes, or if surh law•or decree provides that �f 3�.,
<br /> , ' am• amount so paid by the Borrower shall be rredited on the debt, �r�
<br /> (Ill� interest on the note secured hereb>: ihe Lender shall ha�•e U�e right to gi�•e ninety da}•�' written notice
<br /> (IV) amortization of the principal of said note: and �u the owner af the premiscs, requiring the payment of the debt. :
<br /> If aurh notire be given, the saiJ debt shall becume duc. payable -
<br /> (V) late charges. and rollectible at the expiration of said ninety days.
<br /> Any deficitncy in the amount of surh aggregate monthly pa�•- g, That should the Borrou•er fail to pay any.sum or keep any
<br /> ment shall, unless made good by the Borrower prior to the due �o�enant pro��ided for in this instrument, then the Lcnder, at its
<br /> date of the next such payment.constitute an event oP default
<br /> under tbis mortgage. The Lender may collrct a "�ate charge" not O(7itDR.may pay or perform she same, and al!rxpcnditures sa
<br /> to exceed four cents (4¢) for each dollar (S1)of each payment
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<br /> _ ` _ � ;.� Pa � � HUD�92143DT - --
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