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<br /> � 89- 1063'�
<br /> Borrowe� and Londe� aove�ant and Ag�e• a� tollowa: or it the Lender acqulre tro proprrty olhenviso after r,tAUl�, �no
<br /> Lendor shall appry, at iho tfma af iha commencement ot such
<br /> t Tnat Oor�ower will pay tho fndobtedness as hereinbotora procoedin9s, or at the time the prnperty is olherwiso acaulred,tho
<br /> provided. P�i+rilepu 19 rescrvcd ta pay Iho debt in whnle or in pan on balance then �emalntny in the fund� accumulated under (a)at
<br /> _ � any mstalknent due duto. parasn�ph 2 precedi�p,aa a uedil agalnst the amount �t principal
<br /> thrn tmiadning u�pald under aAid note.
<br /> 2. That, togelher with, and in addition to,the monthy payments
<br /> of principal and interest payable under!he terma ot the note sceured 1.That tha 8orit�wwtr wfll pay ground�ents, taxes, assesements,
<br /> hereby, the 8ortower wlll pay to tha Lende�, on ihe firel c1�y af each wat�r ntea,and oiher povemmental or muNcip�l chargvs,Mes o�
<br /> monih untif the said noto is tuil pald, the toRowin�sume: impositiona,to�whloh provialon hea not been made he�elnbetore,
<br /> and 1�deieuli thereof the Lender may pay the seme; and that the
<br /> (a) A sum equ�l to the ground �enta,it �ny,next due, plua the BoROwer wIH promptly delNer the offlclal recalpts theref��to the
<br /> premiums that will nexl become due and p�yabb on poHcies o1 tire Lender.
<br /> •and other hazard i�surance covering the property.plus t�xea end
<br /> assessme�ts oext due on tha property(all l�s estimated by the Le�der) 5.Tha BoROwer wlll pey all taxea which may be levied upan the
<br /> less alt sums already paid theretor divided by tha number o1 months 4ender's interest In aald�eal estate and Improvements,and which
<br /> to elapse befote one (1) mooth prior to tha ckte when such ground may be Ievied upon thts Instrument or the debt secured her2by (but
<br /> rents, premiums, t�xes and assessments wIN become delinquent,sucb only to the extent that such la not prohlbited by Iaw and enty to the
<br /> sums to be held by Lende�in trust to pay said y�ound rents, extent thst such will no1 maka this loan usurlous), but excluding any
<br /> premiums, laxes and special assessments;and tncome teu�,State o�Federal, imposed on Lender, and wlli file the
<br /> offlcial receipt showiny such paymeM with the Lender. Upon
<br /> (b) A!I p�yments mentioned In tha precediny subsection ot tt�i� vlolation oi ihia undeRaking, or f1 the BaROwer Is prohibited by any
<br /> paragraph and ail paymenta to be made under the nate secured law now or hefeafter existing from payiny the whole or any portion
<br /> hereby shali be added together,and the aggregate amount thereof of the ato�esatd taxe�, or upon 1he rendering ot any courl decree
<br /> � shall be paid by the BoROwer each month in a single payment to be prohfbit(ng tha payment by the BoROwer of any such taxea, or it
<br /> ' appUed by the Lender to the foltowing itertns in the order set toAh: such law or decree provides that any amount so paid by tha
<br /> ' BoROwer shall be credited on the debt,the Lender shait have the
<br /> (I) ground rents, taxes,assessments,fi�e and other hazard insur- ►ight to give ninety days'written notice to the owner ot the premises,
<br /> ance premiums; requiring the paymenl ot the debt. If such notice be given,the said
<br /> debt shall become due, payahle and coltectible at the expiration ot
<br /> (II) interest on the note secured hereby; said ninety days.
<br /> (I�I) amoRaation ol the principal 01 said note;and 8. That should the 8onowes Tail to pay any sum or keep any
<br /> covenant provided tor in this Instrument, then the Lender.ai 3ts
<br /> (1V) late charges option,may pay o�perform the same,and all expendftures sa made ' '
<br /> shell be added to the principal sum owing on the said note.�shall i :
<br /> � Any deflciency in the amaunt o! auch ag9regate monthly payment be aecured hereby,and shall bear interest a!the rate set lorth in the ..'
<br /> � shatl, unless made good by tAe 8orrower pdor to the due date oi the said note, until paid. � �'`�
<br /> __.__ . next such payment. censtiierte an event nt detautt under lhts . ._l��
<br /> � martgage. The Lender may collect a 'late charge' nat ta exceed tour 7. The tha Borrower hereby assigns, transters and sets over to the •F=- -
<br /> cents (4� to� each dollar (St) ot each payment more than fiiteen Lender,to be appiled toward the payment ot the note and all sums �
<br /> (15) days in anears to cover the extra expense Invohred in handOng secured hereby in case o1 a def�uft in the perfortnance o1 any oi the �� •
<br /> delinquent payments. tertns and co�ditions of this instrumenl or the satd note, all the rents.
<br /> revenues and income to be dedved irom the said premises during
<br /> 3. That N the tolal of the payments made by the Borrower unde� such time as the tndebtedness shall remain unpaid, and the Lender
<br /> (a) oi paragraph 2 preceding shatl exceed the emount ot payments shall have power to appolnt any agent or agents it may desue for the
<br /> actualty made by the lender for ground rents,taxes ana assessme�ts purpose of repairiog sald premises and o1 renting the same and • f
<br /> , or insurance premfums, as the case may be, such excess, ii the loan is coUeetin� the rerets, revenues and income, and it may pay out ot said ,�
<br /> • cunent, at the optlon ot the Borrower, sha7 be uedited by the incomea ail expenses oi repairtng said premises and necessary
<br /> Lender on subsequent payments to be rtaade by the BoROwer, or commissions aed expenses incurred in renting and managing the
<br /> , retu�ded to the Borrower. C�' fiowever,the monthly pay�tents made same end of collecting rentals therefrom; the balance remaining, ii
<br /> ! by the Borrower under (a) of paragraph 2 preceding shail not be any,to be applied toward the discharge o1 said indebtedness.
<br /> sutticlent to pay grou�d rents, taxes and ass�ssments or insurance
<br /> , premiums, as the case may be,when the same shall become due artm 8.That the Borrower will keep the improvements now existing or
<br /> payable,thece tt�e Borrower shall pay to the Lender any amount hereafter erected on the propeRy,Insured as may be�equired trom �
<br /> necessary to make up the deficiency, on or betore the date when time to time by the Lender against loss by flre and other hazards, �,
<br /> payment of s�cb ground ren,ts, taxes, assessmenis, ar insurance casualtles and contingencles in such amounts and tor such penods =
<br /> premiums shalf be due. If at any Ume the Borrower shall tender to as may be required by the Lender and will pay promptly, when due, ' '"�
<br /> the Lender, i�a accardance with the provisions o1 the note secured eny premiums on such insurance,provision tor payment o1 which �
<br /> hereby, (ull Esayment o1 the entire indebtedness represented thereby, has not been made hereinbetore. All insurance shail be carried in :
<br /> the Lender shall, in computing the amouat of such irtdebtedness, companles approved by the Lender and the policies and senewals �
<br /> , ccedit to the account of tEee Bortower any batance remaf�tng in the thereol shaq be held by the Lender and have ettached�hereio Ioss
<br /> fi;rds accumulated under t�e provislons of(a)oi perag�ph 2 he�eol, payable ctauses 1n tavor of and in torm acceptabte to the tender. In
<br /> I/there shall be a default under any of the provisions ot this event o} loss Bortower will gi�e immediate nolice by mail to the
<br /> � instrument ►esutting!n�pubtic sate ot ttee premises covered hereby. LenQer,wh0�tay make prao�o! loss if not zr.�Ce prompfly by
<br /> • Page 2 ot� HUD-92�G3�JT-1
<br /> (Form FQTp2.p1m) '
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