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<br />Bornnnr Ind lAndl'f ('o\'rnln[ Ind IIlrrt' III followl:
<br />
<br />88- ~105110
<br />
<br />J. That Borrower will pa)' tht' IndcblcdneSll. a~ hereinbefore
<br />pro\'ided. Privilege is reser\'ed fa pa)' Ihe debl In whole or in pari
<br />on any inslollment due dale.
<br />
<br />2. That. logerher wilh. and in addition 10. rhe monthly
<br />pa)'I1ll:nts of principal nnd intc~resl payable under the lerms of the
<br />nOle secured hereb)'. rhe Borrower will pay 10 Ihe Lender, on the
<br />first day of each monlh umil the said nOle is full)' paid. the
<br />foUoYting sums:
<br />
<br />~f/icica~ldl'il!bfm
<br />~......~~
<br />
<br />:it~~lbl';:~
<br />,,~"'""~
<br />-~ ~.~'"
<br />-.. .
<br />IBI'pp'im.-a." . ~~
<br />
<br />~~
<br />
<br />XOlII~lIlZllIIDtxIlIilI::ioucJGc
<br />~xzf~
<br />IlIlmIlXnIlIllIIlIIlcc~
<br />"-~J<IllIKIllIIJ<J~
<br />lItiO<lI
<br />-"""""'IDD<-~""'OOlIIIKJIoI~
<br />~
<br />
<br />(a) 1tIIxA sum equal to the ground rents, if any. ne\.1 due, plus Ihe
<br />premiums thai will next become due and payable ~lO polide!. of
<br />fire and other hazard insurance covering Ihe propt'r!y, plus IJ.WS
<br />ilnd assessments ncxt due on thc property (all iH ".~rjm:J[ed oJ lilt'
<br />Lender) lcss all sums alread)' paid therefor divided hy the number
<br />of months to elapse before one (1) month prior to lhe dale \\ hen
<br />such ground rent~. premiums, ta...es and a!>St'ssmenh \\ ill become
<br />delinquent, such sum!> 10 be held by Lendt'f In trusl 10 pay !laid
<br />ground rents. premium!>. taxes and special itSSeS!101cnt!l; and
<br />
<br />(~-) Ii All payments menlioned in the IWO prt.'cedin~ ..uo..eclilln.. nf
<br />Ihis paragraph and all paymenls to be made under the I1Ule
<br />secured hereby shall be added together, and the ilggregnlL" amount
<br />thereof shall he paid b~' the Borrower eaL'h month in a ~lIlglt.' (la~-
<br />mem to be applied by the Lender 10 the fnlluulDg ilc!m~ in the
<br />order set forlh:
<br />
<br />lIlc~~
<br />
<br />ohutIcX .
<br />bax
<br />
<br />(I) XJlJsround rents. taxe!>. a!>sessmenls. fire and other halllrd
<br />insurance premiums;
<br />
<br />(II) KKXinlerest on the note secured hereb~;
<br />
<br />(III) lXXamortization of the principalnf ..aid nOle; and
<br />
<br />(IV) mlaIe charge..
<br />
<br />Any deficienC)' in the amou", of such aggregate monthl~ rm~-
<br />men! shall. unless made good by the Barrouer prior 10 Ihe due
<br />dale of the nexl such payment, conslitute an e\en! of default
<br />under this mortgage, The Lender ma~ callecl a "late L'hargt''' not
<br />10 exceed four cents (41;) for each dollar 1$ I) of each payment
<br />
<br />more Ihan fifteen (15) days in arrears 10 cover the e:tetrn ell:pcnse
<br />im'ol\'ed in handling delinquenl paymenls,
<br />
<br />J. ThaI if Ihe tOlnl of lhe paymenls mnde by the Borrower
<br />under (a) of paragraph 2 preceding shall eXL'eed rhe amount of
<br />payments actually made by Ihe Lender for ground rcnl.~, laxes and
<br />assessments or insurance premiums, as the case may be. such ex-
<br />cess. if the loan is current. at the option of the Borro.....er. shall be
<br />crediled by the Lender on subsequent paymenls 10 be made by Ihe
<br />Borrower. or refunded to the Borrower, Jf. however, Ihe: monlhly
<br />payments made by Ihe Borrower under (a) of paragraph 2
<br />preL:cding shall nol be sufficienl 10 pay ground rems, la:tee~ and
<br />assessmem5 or insuranc~ premiums, as Ihe (:ase ma)' be, when the:
<br />same shall become due and payable. Ihe:n Ihe Borro"'er shall pay
<br />10 the Lender an)' amount necessary to 'make up the deficien~y. on
<br />or before Ihe date when paymenl of such ground rent!>, taxes.
<br />a"!lt'!lsmc,'nls, or insurance:' premiums shall be duC'. If al an)' time
<br />IhL' Uorrowcr ..halllc!nder 10 the Lender. in accordnnct' with lhe
<br />rrmisions of lhe note secured hereby..full paymem 01" Ihe entire
<br />indt'hlcdness represented thereby. Ihe Lender shaH, in computing
<br />Ihe amount of such indebtedness, credit 10 lhe account of the Bor.
<br />ro"cr~~~~
<br />X>:~~_IIlIUCII~
<br />~klcfxooiJlDaaxk~_al any balance reo
<br />mainin1;! in ,hL' fund~ accumulated under Ihe pro\'i5ion.~ of (alol'
<br />p<lfilsraph ~ hercuf. If Ihere shall be a default under .my of lhe
<br />prU\ i!lion.. of ,hi.. i",,'rumenl re~ultin!! in a public sale uf [he
<br />pn:mises cO\crl'd hercby. or if Ihe Lender acquires Ihe properly
<br />OIher\\ i~e afH~r defaull, llle Lender shall :lpply, ,II lhe limc of Ihe
<br />COITlIt1i,'ncement of SUdl prl\t.'eedings. or at thc lime tht' pmperlY i~
<br />olherwise acquircd. Ihe balance then remaining in lilt' fund~ ac-
<br />cumulated under la) of paragraph:! preceding.. il!. a crt'dil agam~t
<br />Ihe amOUIlI of pTlndpallhen remaining unp3id under ~aid note.
<br />><OIIIdxlil~~,.;,....,
<br />X\H~Il!lIRilcl"
<br />
<br />oJ, ThaI Ihe Bnm.l\\cr will f'lUy ground rel1h, la\l'",. il~"eS"lIll'nl~.
<br />\\aler laIC", ,lI1d uThel !!O\ernmemal ur lIlurlh:ipal \.'har!!l'~, fj,lL'~.
<br />or impl.hitiom, for \\tlldl pTl.l\'ision has 11m heen m31.lL'
<br />hl'[t.tnnelnrc. and In delault thereof I IlL' Lender ma~ pa~' the ~ame;
<br />and Ihill lhe BllrH1\~l'r \\ill prlmlpll~ ddl\t'r Ihe nllklillll.'ceiPTs
<br />I tll'fl.'lnr ((l lt1l.' I t'ndel
<br />
<br />5, ThL' HummL'r \\ill pa~ all la\l.'~ \\hkll may ne 1t'\h.'U upon
<br />Ihl.' l.ellder'~ lntere~t in ~ald real ~~tate and ill1pro\'ell1c!nt~. and
<br />\l.hlLh nHl~ tic Ic\icd UpOIl Ihi!o. inslrument or the debl ..e,,'lIfeu
<br />hcreh~ fOUl onJ~ 10 Ihl.' t'.\h.'Dl Ihal ,uelt i~ not pfL}hihllt'J b~ luu
<br />and onl\' 10 IhL' e\lent Ihul such will not mah' thi, loan Il'ounou<,J.
<br />hut L''id'uding all) ini.'omc la\, Slate or Ft'deral. impll~ed un
<br />lendel. anJ will file thl.' offidal rCl.'t'iPl !lhll\\ing 'uch pa~lIlt'lI1
<br />\\ilh Ihl.' l.end,,'r. Upon \lolalionl.ll' this undertaking, or il' thL'
<br />llorf{l\\t'r i.. rrohlbited by an~ la\\ no\\ or hereilftl,'r ~'''~lInk! frum
<br />paylOl' Ihe whole or all)' pori ion 01' Ihe oforl.'5uid la,\".... ur upon
<br />Iht' rcndering of al1~ l.'OUrl decree prohibiting Ihe pnynll'nl ny 11ll'
<br />BorrouC'r of an~ ~ul'h tu\es, (If if such law or dccreL' prO\idc!l Ihat
<br />an} amount so paid b~' Ihe Borrower ~hall be credilcd un the dent.
<br />II1L' I cnder ~halJ ha\c the flghl III ghe nillel~ days' \\nllell IlUlJ":c
<br />ILl llle O\\nc;or of Ihe premJse~. rL'4uiring the paymt'11I llf Ihe deb!.
<br />If ~lIdl Ilorict' be gi\t'Il. the ..aid dd.11 ..hall bt'I.'omc duL'. payablL'
<br />and COIlt'clible al thl.' C\plrallOn uf ~uid nint't~ duy...
<br />
<br />b, Thai ,hould IhL' Bommer rail 10 pay an} ~urn or keep any
<br />covenanl prO\idcd for In Ihl!> instrument, Ihen Ih(.' Lemler, at it..
<br />npllon. may payor perform tbe .'lame, and all e"pendllllfe~ "0
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<br />HUD-92t43DT
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