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<br />88- 10_4815
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<br />Ionown and lA-ndtr l'n\'rnlnt .nd _RUt" as rollow!ol:
<br />
<br />1 Thlt Borrow!'f will JllI)' the indehtedness. II" hcrcinbcrnrc
<br />prO\'ided. PrivIlc8C i" rc<ocrvoo 10 p3~ the L1chl in whole or in part IIn
<br />an, lO:\tlllmrnt due dllle
<br />
<br />2. Thll. t08clher wilt., and In ntJdlllun In, the mnnlhly pll)'mcnl~
<br />of pnncipll and interest payable under the term" of the nole secured
<br />hereby. the Borrower will pay 10 the Lender. on the fir.>t day nf each
<br />month until the Slid nole t!o fully paid. the following sum!.:
<br />
<br />(al A "urn equal to the ground rcnl'i, if any, nc~1 due. plu:'I the
<br />premiums that will DCl.1 hccumc due and payable nn JX)liclcs of fire
<br />and ulhel hazard in"uram.~ cU\lcnng the property, pill' lu~ and
<br />anessmrnlS nC1I:1 due on Ihe property (a(( as f'~r;malt>d b." ,he' Lf'n.dt'r)
<br />less all sum!. already paid Ihcrdor divlI.lL-d by the number 01 month,
<br />to elapse btforc one f I ) month pnor In the dale when !touch grnund
<br />renb. premium', tno Ilnd a....\CS:\menl!o will hcalmc ddi4uent. !luL.:h
<br />!lum!l lu be held hy Lender m IrWit tn pa~. ~:lId ground renl~.
<br />premlurru.. taxo and 'ilpcClIlI a.~\mcnlo;. and
<br />
<br />lb) All pa~'mCnl\ mentluned III the: prcl..cdmf:! ..uh'ol..'CtJon Illthl"
<br />p.1r38r~ph and all pa)mCnb In be made under the nole !oCa.:ured
<br />hereh~' o;hall ~ added tngether. and the aggregate amnunlthcreuf
<br />shall he paid b). the Burro"'l:r cuch fOunth 10 a ..mgle payment to hi:
<br />applied hy the l.ender In the fullo\.\omg lIem.. in the urder ~el forth
<br />
<br />fI) ground renK 11llC1, a!.~'imen"'. fife and nther haz.ard imur.
<br />anee prrmlum'io;
<br />fll) mte~t IIn thl' nnte \C'cured hcreh~.
<br />11111 amortization (If the pnnl.:lpal III ~Id null:, amI
<br />llVll,lle a.:haJ]C'\
<br />An~ defiCiency' 10 Ihe amounl"! ..uch :I~regall. rnllnlhh paymenl
<br />'iolmll. unlC!\... made gOlMJ h'f thc 8mrmu:r prull III the dUl: dall' Ilf lilt"
<br />nCJI( \uch paymcnl. QIR!otltutc an e\ir=nt ut dr:laul1 umler thl"
<br />mnrtgl~e The Lender mal' l.:lllln:l II ..Iate charge" nntln c\L.:ecd luur
<br />L'"Cnt."I.a'1 fur ca\.:h dollar I~ll III cad l~ymenl murc Ihan fifleen
<br />1151 da\''' 10 arrear' tll l'l1\Cl the l"lta c\pcn'\t" m..nl\led m handlmp:
<br />dcllll4uenl (l3\'menb
<br />
<br />:\ That Ir the 101.11 or the pa)'menb made b) the Borrower undel
<br />1111 ul paril~rilflh :! prct:t"dlR~ ,hilll eu.r=et.! the amuunt I1f pa)mcnb
<br />i1ctually made h) the tender 1m f!llllund r~nb. laiC' .Ind a'!lC-.!lmcnh
<br />(lJ m..uranl.'l:' premium" 11\ the i:3,e mll~ he, \u\.:h C\CC"o", lithe Il~n I'
<br />L:urrrnl, at Ihr ('plUm III thl:: Hc:lrrn'o\er, ~hall t'lC: Cfc(htct.! by thr
<br />tender nn "u~UCnl paymcnl' tn he maLIc o~ Ihe UUlIlI'o\cr. III
<br />rr'undeLl ll\ Ihe Hurro\\'t. II. IIn\o\(:\(". the mf'nlhl~ pa,ment\ madl-
<br />b\i the Horru..er undcr i allll pal:ll!raph :! prtuJ1nll ,hilI I nul Oc
<br />:!.~fficlent tu pi) p:wund rem.., UI\C) and il.....'ot.~..mcnb m m,unlnl.:e
<br />premlUm!>.4!> the C3!IC ma~ Oc. '0\ hen lhe \l1mt' ,hall ht.'\.'umr tJut' und
<br />payahlt, Ihen the Borruwer ,tull pa~ llllhe I cnder .111\ amoutH
<br />nect:'!oury to make up Ihe deflClenn. or. (If hdnrc the dale ",'hcn
<br />pa)mcnt tit '\ua:h ~ruund rcnb. 1.1'C"!. a..........,menb. III IIl\UrilnLl'
<br />premium... ..hall he dUl' Ir al al1\ IImc thr ROU"",Cf ,hall lenalel I"
<br />the Lender. In aO:llrda.nl..'"C wllh Ihe r'm,...un.. III the Ilulc ","'lllred
<br />her['h~. fuU J1a)ment 01 the enllfe mdehleLlno.'\ n:prt'\entet.! thelehy.
<br />the Lender ",hall. III (umputm~ the .smllunl of 'u!.:h mJehlcLlnl....'.
<br />crcdrtlu the 4l.'L"(lUnl ullht' BtllTlI....er am tl.1ll1nu" rrmaulIng III the
<br />funch :la..-umulaled undellhe prll\I'"Hl\ of (;tllTf J";ua~raph:! herelll
<br />If there: ~hall be ;s default undc:r am (If Ihe pllJu\llln\ C1f ItW.
<br />insuumenl rcsultin~ III a (luhhl.: 'l1ite of Ihr (lrrml~ ..Il',nct.! herch)
<br />
<br />or If lhe "cntlcr IICtlUlre!a Ihe prupcrty utherwl'ic afler dcfaull, Ihe
<br />lender ..hllllllppl~, III the lime (If the cumme,:m:cmcnl of ~uch
<br />prncecdings, nr III Ihl' limt' Ihe prnpcrt)' is nlherwi~c IIcquired, Ihe
<br />balanL"C Ihen remaining in the (unds accumullllcd under lal nf
<br />paragraph 2 precedmg, Il5 a crcdil allain~llhc amount (If princlplIl
<br />Ihen remaining unpaId under said note.
<br />
<br />4. Thllt the Ourr(lwcf WIll pay gruund rcnt.'i. taxes, a~o;e:r.~menl'i,
<br />waler rates. and ulhcr governmental or municipal charges, lines. (If
<br />Im(MlSItlnns. for which prnvision has nul been made hereinbefore.
<br />and in defaulllhcrcnf the Lender may pay the same; and thallhc
<br />8<ltfClWer Will promptly deliver Ihe official receipts Iherefor 10 the
<br />Lender
<br />
<br />~ The RllrrO\.\o'cr will pay nUtlike... whu.:h may he IC\'lcd upon Ihe
<br />Lender', ,"lcre~1 III \<lId rcal c.\lalc and improvement.'i. and which
<br />may he levll:d upnn Ihls lmtrumcnl (It lhe dehl !aecurcd hereby (bUI
<br />unly Ifllhc c\tcnl thai ..uch I" nol prohihited hy law and unly to the
<br />extenlthat "lIch Will not make thl:r.loan WiUtlllU:r.). bUI cxcluding any
<br />income lal. Slate Of Federal. Imrmed on Lender. and willlile thc
<br />offiCial receipt ..hnwmg such payment wllh Ihe Lender. Upon
<br />viulatlllR {II thl" undertakmg, ur If Ihe Hmrnwer is pruhibitcd hy Bny
<br />law now or hereafter cxi5llng frnm paying the whole or any portion
<br />IIf the afmesallJ tale.., or urfln the rendering of any court decree
<br />prohlhltmg the paymenl by Ihc Rorrnwcr of any !luch laXe.'i, or if
<br />!luch law lit deaet' pro\ildc!lthat any amount!lO paid by Ihe
<br />80rrllwer ~hall be creditet.! on the debt. Ihe under shall have the
<br />tight tn gl\.c mnety day" wllllen notice 10 the owner of the premises,
<br />re4uinn~ the paymenl (If the LJebl. If o;uch notice be gi\o'cn. the said
<br />deht ..hall hCCOII1l' dllc. payahle and collectible at the expiralion of
<br />\UIlJ nmel\' l.la.....
<br />
<br />h 1 hilt ..hlluld the Borrllwcr 1':11110 pa) an) ..urn nr keep any
<br />Ul"enant r,m Ided fnr III thl'" lIl..trulTlenl. lhen the Lender, at Ib
<br />oplll,". ma.. pll'f III pcrfmm the \arne, and all c.pcndllurc~ sn madc
<br />..hull he al.hled 111 the pnnclpaJ !lum oWln8 on the Slid note, shall
<br />he "cL.:lHed herdl\. aml..hall hear mtere..t at Ihe rate ..cl forth in the
<br />...ud nule. until pUld
<br />
<br />7 Thai thc Holtnwer herchy a"'\Ign.., trun~fcr!. and !leb u"'~r In the
<br />l.t'nder, 10 hi: a.ppllell tnward the pll)menl of the nole and all sums
<br />'io<<urr:d hereby m (;Me uf II dcfaull 10 the performance of any of lhe
<br />t("rm.. and L"lJRdllluR!, of thl!. m!.trume:nt or the said nole. all the rent!!.
<br />re\"Cnue\ ami IIll:ume In he defl\lcd Imm the saId premi5C5 during
<br />..ua.:h time .1, Ihe lndchtcdne\... ~hall remain unpaid. and Ihe lender
<br />..hall hUH (KllA-'CI 111 appuml any agent or agents It may desire for the
<br />purptt\t' lit fl'PlIIJIIlB !olIld prcml!.O ami of renting the same and
<br />wllcctllllllhl' rl'nh. rl'\lenue!o and mcumc. and II may payout of said
<br />lnltlllu.... "II npc:n..l"'\ llf rcp.llf1nl:J ....Id preml!oC!l and neee:r..\ary
<br />llllllll1l\\lUll'o lInJ clpcn\C!llRcurred In renuns ami managing the
<br />'\3.mt" amlllf t.:ollcL.:lmg rentals lhcrdrom; Ihe balance remaining. if
<br />.IIIH III tx. lIpplll:d tnwllrd Ihe dl!ol.:harge of ~Id indebtedness.
<br />
<br />l". I hal Ih(: Bmltl\.\ocr Will keep the Imptu\lcments now cU~iling or
<br />hC"rt':ll1cr l'rel.lcd un the property. lIl'ioured Jl!l may be rcqulred from
<br />tHlU- III IImc 11, Ihc Lender agam..t 1m... by fire and III her hazard!..
<br />ul\ualtll"'\ lInd .contmgcncu:.. m \uch amounts and for ..uch pctl(xb a...
<br />ma\ he ;e4ultcd by Ihe Ltnde:r and will pay promp1Jy, when due.
<br />an, prt"mlum!. un 5uch Iflsurancc. provlSion for payment of which
<br />ha.. nut heen made heremhdore. All m!our.ancc ~hal1 be: earned rn
<br />l.:umpaOln "pprmcd hy the: Lender and the pollen:.. and renewal..
<br />therenf ,hall he held b.. the l~nder and have attached Ihen:tu 1m..
<br />pn)'ahlc dlllL'c:-. In 18\(;r !If and III form 8cL.:epl./lble III the Lender In
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<br />HUD.92143DT .1
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