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<br /> r Be►rrower and I.ender ro�enanl �nd segree s�v Poltowe: �t���rr ihan liftern (IS1 daps in arrtars lu�otrr th�rttra rrpcnse
<br /> � inu�l�cd in handling drlinyurnt paymenl..
<br /> 1. That Borro��rr ��ill pa� ihe indehtrJn��s, a:hrreinbrfure
<br /> provided. Pri�•itcgc is rcsenrd to pay the debt in��hotr or in �+a�t 3. That if the total of thr payments made by the Borro���er
<br /> on any instaliment duc datc. undcr (b)uf par�grAph 2 prc�edi�ig ahall rxrrcd the amount of
<br /> . payments actually made by the Lender far ground renis, ta�es and
<br /> 2. That, togethcr «•ith, and in addition to,thc monthly assescments or insur�nce premiumx. as the�ase muy bc, such ex-
<br /> payments af principal and interest pa�•able under the te�ms af'the ceas. iP the loan is rurrent, at the aption of the Bor�o�cer. sha0 be
<br /> . notc secured hereby, the 8orro«er e•ill pa>• to the Lendc�, on �hc credieed by the l�ender on subsequent paymcntc co be made by thc
<br /> Gtst day of each month unti! the said note is fully paid, the 8orro�ver. ur rei'unded to the Bar�ower. IP. ho��•e�•er. the monthly
<br /> following sums: pa��ments made by the Sorra���er under (b)af paragraph 2
<br /> (at Amount sufficient ta pro�•ide the holder hereof���ith funds Pmceding shall not be suP�cient ta pay g�au�d rents. �axes and
<br /> tt*pay the ne�t mortgagc insurance premium if'this instrument and `�uessments or insurance premiums� as the case ma�• be. when the
<br /> the note secured htreby are insured, or a monthly charge(in lieu same shall become due and payable. then the Bono��•er shall pay
<br /> o!a mortgage insuran�r premiuml iP they� are het� b�• the to the Lender any amount necessary to make up the de�ciency, on
<br /> Secretary of Housing and Urban De�•elapment, as follo��s: or before the date«•hen payment of such ground rents. taxes,
<br /> asse�sments, or insuran�e premiums shall be due. lf at any time
<br /> (11 lf and so long as said note of c�•en date and this instru- the Borrow•rr shaU tender to the Lender, in accordance with the
<br /> me�t are msurea or are re�nsurcd unaer the pro��s�ons ot [hc Na- pro�•is�ons at the note secureu hereby, 1uU paymenl of the entue
<br /> tional Housing Act. an amount suf�ciene to accumulate in the indebtedness �epresented thereby. the l.ender shall, in compating
<br /> hands of'the holder one(1)month prior to its due date the annual the amount of such indebtedness.credit to the account of the Bor-
<br /> mortgage insuran�c premium in order to pro�•ide such holder �vith ro�ver all payments made under the ptovisions of(a)of pazagraph
<br /> funds to pay such premium to the Secretar��of Housing and Ur- 2 hereaf�.hich the Lender has not become obligated to pay to the
<br /> ban Development pursuant to the National Housing Act. as Secretary of Housing and Urban Development and any balance re-
<br /> amended, and applicable Regulations thereuader; or maining in the funds accumulated uctder the provisions ot(b)oP
<br /> (111 !f and so long as said note of e�en date and thi� instru- Paragraph 2 hereof. lf there shall be a default under any aP the
<br /> ment are held by [he Secretar�•,of Housing and Urban De��elop- Pro�•isions oi'this instrument resulting in a public sale of the
<br /> ment, a monthly charge(in lieu of a mortgage insura�t�t premiuml Premises covered hereby,or if the Lender acquires the property
<br /> which shall be in an amount equal �a ane-c���elfih I1i12) af one- other��•ise after default, the l.ender shall apply, at the time of the
<br /> half(1!2)prr centum of the a�•crage aucstanding balance due o� ��mmencement of such proceedings, or at the time the pruperty is
<br /> the note wmputed��•ithout taking into a�count delinyuencies or �thenvise acquired, the balance the� remaini�g in the funds ac-
<br /> prepayments; �umulated under (b)of paragraph.. preceding, as a credit against
<br /> the amaunt of principal then remaining unPaid under said note,
<br /> (b) A sum equal to the gtound rents� if any. next due, plus the and shall ptoperly adjust any paymentc �vhich shall ha�•e been
<br /> premiums that will next become due and payable on policies of made under(al of'paragraph 2.
<br /> !"�t:s.��t��r hr::�ir.su:wz.r w:•r:i:g s:::�so����, p:us :a,:.s =
<br /> and assessments next due on the propeny(a11 as cstimared by the �l. Tfiat the Borro«�er ��•ill pay ground rents, tares, assessments, -�
<br /> Lender)less all sums already paid therefor di�•ided by the number ��ater rates,and other go��ernmental or municipal charges, fines, � .
<br /> of months to elapse before one(1) month prior to the date ��•hen or imposition�, f'or which provision has not been made •
<br /> such ground rents, premiums, taxes and asses�ments ��ill become hereinbefore, and in deTault thereof the Lender may pa} the same; —
<br /> delinquent, such sums to be held by Lender in trust to pay said and that the Borrower�viU prompUy deliver the official receipts —
<br /> ground rents, premiums. taxes and special assessments;and therefor to the Lender, --
<br /> (c) All payments :stentioned in the two preceding subsections of S, The Borrov er aill pay all taxes which may be levied upon �
<br /> this paragraph and all payments co be made under the note the Lender's interest in said real estate and impro�•ements, and
<br /> secured hereby shall be added cogether, and the aggresate amount w•hich may be le�•ied upon chis instrument or ihe debt �ecured
<br /> thereof shall be paid by the Borto«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 [he and only to the extent that such a•ill not make this toan usurious), ;
<br /> order set forth: but excluding any income tax.5tate or fiederal, imposed on i
<br /> (I) premiam eharges under the contract of insurance with Lender, and will file the ofiicial receipt showing such payment � �.
<br />, the Secretary of Housing and UrbaR De�elopment, or monthly .cith the Lender. Upon �•iolation of this undenaking, or if the �
<br /> charge(in lieu of mortgage insurancr p�emiuml, as the case may Borrow•er is prohibited by any la�v now or herrafter existing from ,
<br /> b�: paying the �vhole or any portion of the aforesaid taxes, or upon '��
<br /> ([1)ground rents, taxec, assessment�, fire and other hazard the rendering of any court decree prohibiting the payment by the ' �
<br /> insurance premiums• Borro«•er of any such taxes, or if such law or decree provides that
<br /> ' any amounl so paid by� the Borroa•er shall be credited on the debt,
<br /> (f11) interest on the notc secured hereby; the l.ender shall hace the right to give ninety days' «ritten notice
<br /> (IV) amortization of the principal of said note: and to the o��ner of the premises, requiring the payment of the debt.
<br /> lf such notice be gi�en, the said debt shall become due, payabte
<br /> (V) late charges. and collectible at the espiration of said ninety days.
<br /> Any deficien�-� in the amount of such aggregate monthly pap• ' b. That should the SurruNr� fail to pap aiiy .um ur kerp any
<br /> mtnt chall, anless made goc�d by the Borrower �+rior to the due �o�enant protiided for in this instrumer.�, ihen the Lrnder, ai it�
<br /> date of the next such payment, constitute an e�•ent of default
<br /> under this mottgage. "fhe Lender may collect a "late c6arge" not °p«on, ma� pay or perform the same, and all e�cpenditures so
<br /> to exceed four cents (4¢) for each dollar 15!1 of each payment
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