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<br />Borrower and under co\'emlnl and agree as follows:
<br />
<br />88-1.01647
<br />
<br />1. That Borrower wi\! pay the indebtedness, as hereinbefore
<br />provided. Privilege is reserved to pay the debt in whole or in pari
<br />Oil nny installment due date.
<br />
<br />2. That, together with, and in addition to, the monthly
<br />payments of principal and interest payable under the l\'rIllS of the
<br />note secured hereby, the Borrower will pay to the Lender, on the
<br />first day of each month until the said note is fully paid, Ihe
<br />following sums:
<br />
<br />xxxx~}(~X'A~m~K~>mro:m~RXX~~~~~X~~.X~A'A~~X
<br />tfXlQI7.XJ!'bfxxm~.~ . mnifm*~~mi~~X~llta:
<br />~~"Ql!~;a.iAmm~~ mm~ ~ X>ti~mxxx
<br />~f~~mu".~ X X ttm M1f):XXXXXXXXX
<br />mlaWr.<~lx . ^ . . ~ ~WK~~ ,XXXXXXXXX
<br />xxxxx~*k>.Y:u ~~m.$wm~~dx~~W~x~~~XX
<br />= m~~m~~mIK~~lro~~~xx
<br />X . . ~'xmml~ K~X~I* I~ jiXx.x X
<br />. m:x~~k~m Jt;X19.'.d~*~ ~ s,;X i
<br />1iiir~[I ~~~fim ~ i~~x
<br />~m~~ ~ ~~X~~ xHrxxxx
<br />= l ~ ~X ~~i mmxxxxxxx
<br />t ~n~~~~ffxXXXXXXXXXXXXXX
<br />XXXXX~n~un:~mlxnwXfl~~~~~~YJ~ltXnw:XYtX~liXX
<br />~~~Klg~~~~~Wi(x*~xm~~m~xxx
<br />~XX~~l~~~'1/Ir'f/.riiYXAY~l~X~W~~X
<br />~XIOOl<~;oo~QiOOtX~~~~~~~~~XXXx
<br />w.:~.~~laX""~~OO~'~X~~XXl(~mK~~>all~Xo1IKXXX
<br />~~~~Q(Wlm~~l'X~K~~)llW1*XXXX
<br />~~~~~XX
<br />
<br />(a) ~~) A sum equal to the ground rents, if any, next tlue, plus the
<br />premiums Ihat witi nexl become due and payable on policies of
<br />fire and other hazard insurance covering Iht; properlY, plus taxes
<br />and assessments next due on the property (all as estimatcd by the
<br />Lender) less all sums already paid therefor divided by the number
<br />of month~ 10 elapse before one (1) month prior to the dale when
<br />such ground rents, premiums, taxes and assessmems will become
<br />delinquent, such sums 10 be held by Lender in IruSI to pay said
<br />grou.nd rents, premiums, taxes and special assessmellls; and
<br />
<br />(bl ,~) All pa}'ffients mentioned in the 1\\'0 preceding subsections of
<br />thl'fparagraph and aU payments 10 be made under the nOle
<br />secured hereby shaH be added logether, and the aggregate amoulll
<br />thereof shall be paid by the Borrower each month ill a single pay-
<br />ment to be aoplied by the Lender to the following items in Ihe
<br />order set forth:
<br />
<br />XXm:).ft.'OIlOX~Kl(.>JmMXkXX.t).jXlfXC1:.1.InX~~).'XXX
<br />:oo:mau:t.x.x~)W:~UXXlet~.mUXXXW:OIX~lIk\tIeKXXXX
<br />:tWPXQXI:txlX~'1#!Ii1RI1II#.mooI~t.1Xx.ltXMXltlm;gUXXX
<br />lNl(X
<br />
<br />(I) <itA) ground rents, taxes, assessments, fire and OIher hazard
<br />insurance premiums;
<br />
<br />(II) d") interest on the note secured hercby;
<br />
<br />(H])(!lt) amorlization of the principal of said note; and
<br />
<br /><IV) flX) late charges.
<br />
<br />Any deliciency in the amOUll! of such aggregate monthly pay-
<br />ment shall, unless made good by the Borrower prior 10 the due
<br />date of the next such payment, conslitute an event of default
<br />. under this mortgage. The lender may collect a "late charge" no!
<br />to exceed four cents (411:) for each dollar (SI) of each payment
<br />
<br />more limn fifteen (15) days in arrears to cover the exlra expense
<br />involved in handling delinquent paymcnts,
<br />
<br />J. That if th,' lotal of the paymenls made llY the Borrower
<br />under ~~'5)f paragraph 2 preceding shall exceed Ihe amount of
<br />payments actually made by the lender for ground rents, taxes and
<br />assessments or insurance premiums, as Ihe case may be, such ex-
<br />cess, if the loan is l'llnent, at the option of Ihe Borrower, shall he
<br />credited by the Lender on subsequenl payments to be made by the
<br />Borrower, or refunded to I he Borrower. I f, however, the monthly
<br />payme11lS made by the Borrower under k~~~lf paragraph 2
<br />preceding shall nOI be suffki,'LlI to pay ground renls, taxes and
<br />assessmelllS or insurance premiums, as lhe ease may be, when the
<br />same shall become due and payable, then Ihe Borrower shall pay
<br />10 Ihe Lender any amount necessary to make up the dellciency, on
<br />or before the date when payment of such ground rents, taxes,
<br />assessments, or insurance prcmiums shall be due. If al ilny lime
<br />the Borrowcr shall tender to the Lender, in accordance with the
<br />provisions of the nore secured hercby, full paymenl of the entire
<br />indebtedness rcpresellled thereby, lhe Lender shall, in eompuling
<br />Ihe amoul1l of such indebtedness, credit fO the aecouut of the Bor-
<br />
<br />rowcr tlI111Xi~~&id~X~~X~.hlt1 ~X~W*~W
<br />ixrn~~ x~~i~~~ X *'ffmX~ ~~x~~~xfd~~x
<br />mm,%'X . ~~~ ~~ ~ . 1'&1 ~~X~ ~ny lHilanee re-
<br />mauling m 01e~1I1Ht aCCUl1lU a ~1I~eriWle prOVISions of (,Q) of ( )
<br />paragraph :2 hereof. If thl're shall bl' a default under any o'rlhe a
<br />pnwisions of this insHument resulling in a public sale of the
<br />premises ,'o\erl'd hereby. <)r if Ihe Lender acquirl's Ihe properly
<br />olherwise after default, the Lender shall apply, at thc time of the
<br />commencemel1l of such proceedings, or al the time Ihe properly is
<br />OIherwise acquired. the balance then remail1lng in the funds ac-
<br />cUlllulated under (~l~( paragraph :2 pren'd:ng, as a credit ag"inst
<br />the amount of princlp~1 then remaining unpaid under said note,
<br />
<br />n)!l'1#WHw.VWh 'rl~~kXtt'lx~Wx~ifnx~i1~n'fillmxxxxW*xXXX
<br />~~~ffx~~~~l~fi!x~~~~ij~k1:XX
<br />
<br />-1. Thai the Borrower will pay ground rents, laxes, assessl1ler,lS,
<br />water rates, and mher governmental or municipal dlarges, fines,
<br />or impositions, for which provision has not been madc
<br />hereinbefore, and in default thereuf the Lender may pay the same;
<br />and Ihal the Borrower will promplly delilw lhe offiL'ial receipts
<br />therefor to the Lcnder.
<br />
<br />5. The Borrower will pay allta:..es I\hidl may be levil'd upon
<br />Ihe Lendei's interest in said rcal estale and improvcmel1ls, and
<br />which may be levied upon this inmument Jf the llcln 5l:cured
<br />hereby (bul only 10 Ihe eXlelll Ihat slIch is not prohibited by la\l
<br />a:lll only 10 the exlelll that s\lch will not make this loan usurious),
<br />but exduding any income tax, Slate or Fl'deral, imposed on
<br />Lcnder, and will file the ofllcial receipt showing \lIch payment
<br />\luh the Lender. Upon violation of this undertaking, 01 if the
<br />Borrower is prohibited by any law now or hl'r,',lfter cxi\tiug from
<br />paying Ihe whole or any portion of the afore,aid laXl'\, or upon
<br />the rendering of any court decree prohibiting Ill<' payment by Ihe
<br />Borrower of any sueh taxes. or if such law or deercl.' provides that
<br />any amounl so paid by the Borrower shall be ,'rl'diICd on lhe debt,
<br />the Lender shall have the righl to gil'e ninel} day\' \I IIl1en notice
<br />to Ihl' Ownl'f of lhe premises, rcquiring the payll1CIll of till' IIl;,b!.
<br />If 'ouch nOlice be gi\'cn, lhl' said debt shall be,'ome due, payable
<br />and collectible at thl' expiratiun of said ninety d1lI"_
<br />
<br />6_ That should the Borrower fail to pay any sum or keep any
<br />covenant provided for ill this instrument. then the Lcnder, at ils
<br />option, may payor perform the same, and all expenditures so
<br />
<br />Page 2 of 5
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<br />HUD.92143DT
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