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<br />88- iO~360
<br />
<br />Borrower and Lender covenanl and agrrr as follows:
<br />
<br />more Ihan fifteen (15) days in arrears 10 cover Ihe eXlra expense
<br />involved in handling delinquent paymellls.
<br />
<br />I. Thai Borrower will pay Ihe indebtedness. as hereinbefore
<br />provided, Privilege is reserved to pay Ihe debt in whole or in pari
<br />on any installmelll due date.
<br />
<br />2, That. logether with, and in addilion 10, Ihe monlhly
<br />payrnellls of principal and inleresl payable under I he terms of I he
<br />note secured hereby. Ihe Borrower will pay Il1 I ht" l_l'nder, on the
<br />first day of each month 11l11ilthe said note" fully paid, the
<br />following sums:
<br />
<br />xx~~nxXUbmxroJ61X'<<XfImIJ:x
<br />XimiJlDm1CXlX..KII:
<br />_~ mlUlillXmrxxx
<br />~DxXXXXXXXX
<br />~~mxm~xxxx
<br />
<br />~~~~rrox_mrKtI~XkmMXX
<br />. ~
<br />M_XkIIXUkJIK8o;ulD_~mXllnxxxx
<br />~~~uxklXDlXmUlmmm
<br />xllXm<<IJ*"JlRxmlXX
<br />. lXUiX~xxX
<br />"~OD:~~mDlX~mxxxxXXX
<br />knJXXXXXXXXXXXXXXX
<br />
<br />
<br />111
<br />. X
<br />- -
<br />X PJ~XXX
<br />~x
<br />
<br />
<br />(ai ll!) A sum t"qual to the !;IUund lenis, It am. nc\t due. plu, Ihe
<br />premlUms that \\IIIneXI be.:orne due and pJyat>1e ,>n poh<:le., "I'
<br />fire and other hazard insurance e'LHerIn!; Ihe p"'peny, p]u, la\es
<br />and asse5smelllS nexI due on Ihe prop<'II\ (aU a,' ,',nmarcJ b\ rhe'
<br />Lender) less all ,ums already paId Iht"lefor di\ ided t>v Ihe nU1l1t>el
<br />of mOl1lhs to dap.,e before one (I) monlh pnm Il1 Ihe dale whl'n
<br />.,lIch ground rents, premiums, la,,,es and a:.,e",ment' \\ iii hccome
<br />delinquenl, such ,urns lO he held by Lende'1 III II USI III pa\ .,ald
<br />ground rents. premlUms. laxe, and speCIal il",e"mt"nt'; ilnd
<br />
<br />(bl Ail) All payments melllioned In the IWO precedll1ll 'Uh'l'e'lIom 01
<br />thiS paragraph and all pa\'ment' Il' be made under the Iwle
<br />,ecured hereby shall be added togelher, and tht" agg,regale ilmllUIll
<br />t ht"reof shall he paid bj I he Borro\\ er cadI mont h 111 a '1Tl;de pa\'
<br />ment 10 be applied by rht" Lender 10 Ihe follo\\ ill!, IIt'n,., 111 I he
<br />order set forth:
<br />
<br />xx~ m&DBXWlXX
<br />~~u.D:xml~~xmm~xxxx
<br />~~~~XX
<br />~x
<br />
<br />(1) lOi ground rents, laxe:., a"t"ssmt"nt." flrt" and I.1lhCI halard
<br />Insurance premiums;
<br />
<br />!In \nh interest l,n the nlltt" 'ce'urt"d heret>"
<br />
<br />(lll}(t(!l) amonization of the principal of 'aid nore: and
<br />
<br />(lVl (llI() lale charge"
<br />
<br />Any defll'ienq In rhe amount I.1f ,uch clggregale Im,nthly pay-
<br />mem shall, un Ie." made good hy Iht" Borffmer pnor III th,' due
<br />dale of the neXl ,uch paymelll. CL1I1stllllle an elt"nt l" 'lcfault
<br />under this mOr1gage. The Lender may e'l' II eel a "late charge" nl.11
<br />to c:xceed four cems (4~1 for earh dollar ($ I) pi ('ach paymenl
<br />
<br />3. ThaI if the 100al of the payments made by Ihe Borrower
<br />under l'1IX~f paragraph 2 preceding shall exceed the 31ilounl of
<br />payments aCllIally made by the Lender for ground renls. laxes and
<br />assessmenlS or insurance premiums, aSlhe case may be, such ex-
<br />cess. if the loan is current, al the oplion of the Borrower, sl;all bt"
<br />",ediled by Iht" Lender on subsequent payments 10 be made by lht"
<br />BorlOller, or refunded 10 Ihe Borrower. If. 11:,' ""'''. Iht" momlu.\'
<br />payments made by Ihe Borrower under OIXir ,," .,", ph 2
<br />preceding shall nOI be sufficielll 10 pay grounu .Jm. taxes and
<br />assessmems or insurance premiums, as the case may be. when the
<br />,ame shall bewme dlle and payable, then Ihe Borrower shall pay
<br />to Ihe Lender any amount necessary 10 make up the deficiency, on
<br />or hcfore tht" datt" when paymem of ,uch ground renlS. laxes.
<br />asse"ments. or insuram'e premium, shall he due, If ill any lime
<br />Ihe Borrower shall tender to Ihe Lender, in accordance \\ilh Ihe
<br />provisions of the nOle secured hereby, full paymell1 of the entir-e
<br />indebledness represcmed thereby, the Lt"nder shall. in computing
<br />Ihe amount of such indebtedness, credit 10 Ihe account of Ihe Bor,
<br />rowcr Xlikmunu
<br />~X1lR
<br />bK~~~ny baance Ie'
<br />maining in Ihe funds aCl'umulaled under Ihe plO\'isions of ~I 01 (a)
<br />paragraph 2 hereof. If thelt" shall be a dcfauli under any l'1 the
<br />PIll'I'lons (,f Ihl' II1strumt"1ll re,ulting 111 a publi.: ,ak 01 lhe
<br />premises cOlered hereby. or if Ihe Lender ile'Llulre' Ihe plopert\
<br />,'lhenl lSe after dcfaul1. the Lender shall arplv, at Int" I1Ine e'l rh...
<br />clll11mt"ncemt"nl of such proceedings. l1l al Ihc 111111.' lhe rropen\ I'
<br />l>then'lse acqUlre'd, Ihe balan,'t' Ihen remamll1g 111 the fund, ac-
<br />cumulaled undt"r (bl('1~ paragraph 2 rre<:eding, a, a <:redl! agam,r
<br />Ihe amount of pnne'ipal then remall1l11g unpaid undel ,aid nore,
<br />Xxntetmmix ill
<br />O~lM:~~xmUn n
<br />
<br />~. That the BOrrLl\\t""r \\111 r3~ ~rllunJ l~n[..... [~'\t.".... a....'t.....,,~nlt..nI....
<br />.\aler ratcs, and olhel gl,el'rnmental \'1 munle'lpal char;:<~, (lIlt"-.
<br />III IInpo'l1lons. for \\ tlldl pllH l'lon ha' nor r.e<."n m.l\k
<br />herembdorc, and 111 ddaul[ rherelll Ihe Lcndel m:l\ ra\ Illt' ,alll..
<br />Jnd Ihal lhe Borro\\<'r \\111 pfLlmrllv ddl\,'r Ihe ,'111,"1.11 1\',""'!,1'
<br />the'relor In tht" 1,'nde"1
<br />
<br />" The Bonl"l er "Ii' 1'.1\ ,III 1;1\,", II hl.11 mil\ ht' k',ed UP,,;]
<br />{hI..' 1 Lnder.... In[t.''r~...t In ':.HJ feall....lah.. ;.tnd 1:'nf'ftl\L'"n1~"111.... ..!.nd
<br />\\hll:h rna~ he k\ll:d uptln lhl" Ifl...lIUI11t'111 '-"I !hl' \.1 i: bi ,t.......'UH.'J
<br />hereb\ (bul ,'nlv l\' Ihe t'\ll"rll Ihilr 'Udl " !I,ll pI,'hlhHt'J 1-\ bll
<br />and l1nly tLl Ihl' l"h,.n: th;:st 'Ihh \\111 Illll 11lal(' rhl.... 1\~~Hl :..:...Ufa1lJ....l.
<br />r,U[ l'\dudlng ~In\ U1l..'LlJlh." 1.1\. "all" llt } L'\.h.-ral. Hnpt"t't..'"d ~'\n
<br />I ('nder. and wlil tlk Ih!.' \>llIl1al rlXt"lrt ,ho"'n~ 'ud, ra\Il1,'11l
<br />\\lth lht' Il'nJt'I l r~.'l11 \lllLtlHlt) tll Ihl' unJcn...t~Hl~. \'~ Ii ~hL.~
<br />IkltTlt\\t:1 I'" pl,'hlhltt-J h\ .IIl\ 1;1\\ rhl\\ i.ll hL.r\.~a1h.'T \.~,:...:tn~ lh"'fn
<br />paYlllg Ih(.:o \\hoh: l'r an~ p\Hth.\1i l" the ~lhlll"""~UJ r~l'1."""'. (\} uP""f!
<br />lh,,' rC'odr:nng \--,1 an~ l.\lUfl ,h.'\.-Il"(' ph,tllbltu,~ the p.l~n\L.n; l'\ ~h....
<br />BorrolAt:r of an, "'ll\:h ta,l". \'1 If ,u.j\ b\\ ,"1f Jt"Io.Tt."i' PT\.,\\lJl"" ~h..i:
<br />alii amount ", paid t>\ the BOrn1\\el ,hall ~.: ,'re'<l"l'd ,'11 llw Jl"t-:
<br />Ihc L enJl"' ,h:111 h.t\\' l~h.' II!!tl1 Tt' ~I\t' nII'll'i\ J.n" \\1,:1,,"01 !~~'rht'
<br />Il' thl' \,.H\IIC:I l,l rlil" P'l'l1\1o"l.''''. 'l'4ulrln~ thl: l".i\nk'n~ ~lt iht,: ,,"h.'~;
<br />II ...Udl 110t1":l' bt.' ~1\t'Il. lilt' ....uJ det't ,h..~1i r-1."I,.\lr11l' ..L.:c. ;..,.l\.I~"\ll
<br />and l'lll1t:~...tlb1e at ihl' l'\f'lIalIPIl III .....'lIJ ntTlt't\ l.Ll\'
<br />
<br />fl, Thai ,h,'uld the BI.1lllll\l" lad lt1 1'..1\ :111\ '11m ,11 lot...,!' .In'
<br />cOlenant prO'ldl"d I,H 111 Ihl' II1,trUI11<'nl. rhen Ibl' I '""l1<-1. ..: !>
<br />OpllOn, Illa~ paj "I pt"r"'lll1 IlK ,al11('. :ll1d all t'''l'l'l1dllllll'' ",
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<br />Page 2 01 5
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<br />HUD,921430T
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