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<br />............ LoMer...- .... ..... faIo_
<br />
<br />r. Thalllorrowa will pay \he indebledllCSl, II .....inbel_
<br />provKlod. Privi. is resened 10 pay IIIe debl in whole or in part on
<br />any insllllmenl due 1Ia...
<br />
<br />2. Tha~ lopIber wilb. and in addition 10, IIIe IIIOl\lhly payments
<br />01 p<incipol and i_ payable uader lbe lerms or lhe IIOlC ICCllred
<br />bcreby. \he Bono_.11I pay 10 the Lender, oa \he fint day ol_h
<br />monlh unUll"'said IlOlC is fully paid. lhe followinl IUms:
<br />
<br />(a) A I1IJI\ oquallD \he ....und ..n... if any. nul due. plUltbe
<br />premiu"" IhaI will Dell become due and payable on policies or fi..
<br />ancI 0Ihcr _ i_ awerinl \he property. plUI ..... and
<br />0ISCSIIIIeIIlI ...1 due 011 \he poopeny (GIlos.-rrd b, 1M uNkr)
<br />.... all "'"" alrally paid therefOl divided by lbe number 01 monlhs
<br />10 elapse bef_ one (I) lIIo.nll prior 10 \he dale when IUCh lround
<br />..n... premiullll, ..... and .........niO will become deliquen~ such
<br />sums 10 be held by Lender in lrust to pay said Iround ren...
<br />premiums. ta... and specill......."ents; and
<br />
<br />(b) All payments menlioned in lbe plecedinl subsection of Ihis
<br />.......pb and all payments 10 be mode under \he IIOlC secured
<br />bcreby shall be added lDFlher. and lhe .......le amounl\hereol
<br />sIWl be paid by the Borrower each mon,h in I sinlle payment 10 be
<br />applied by the Lender 10 \he followinl it.ms in the order set forth:
<br />
<br />(I) pound rents, lU", ......men... fi.. and OIher hlllrd illSur-
<br />anee premiums;
<br />
<br />(11) inten:st 011 \he IlOlC secured he..by;
<br />
<br />(111) amortiution 01 \he principal olsaid nOle; and
<br />
<br />(IV) late chalJl'S-
<br />
<br />Any derociency in lbc amounl 01 such .......le moothly paym.nl
<br />s1W~ unl... made load by lhe Borrower prior 10 lbc due dale ollhe
<br />_I ...... payme:f~ CDIISIiIUle an even. 01 deflul. under Ihis
<br />mor\pF. The Lender may collect a -late charae" not 10 e.ceecI four
<br />cents (4C) for each dollar (SI) of each payment m_ 'hon fifteen
<br />(15) days in arrears 10 ClIver lhe ..Ira expense involved in handlinl
<br />delinquenl paymenlS.
<br />
<br />3. Thai if the lOtaI or \he payments made by lbc Bonower under
<br />(a) or parqrapb 2 precedinl sIWl e.ceecllhe amounl of payments
<br />ll:lually made by lbc Lender for lround rents, ..... and ......ments
<br />01 illSurallClt: premiums. as I'" case may be. such ex..... if lite loan is
<br />curren~ all'" option 01 ,... Borrow.r. slullI be credited by the
<br />Lender on subsequent payments 10 be made by I'" Borrow.r. or
<br />refunded 10 the Borrower. IF. ho....ever. the monlhly JlIymcn15 made
<br />by lhe Bonowe, under (a) 01 paral"ph 2 plecedinl sholl nol be
<br />suffICient to pay arou.od rents, tales and assessmen15 or insurance
<br />premiums. .. ,he case may be. when the sam. sIWl become due and
<br />payable. then lbc Borrower slullI pay 10 lhe Lender Iny amount
<br />necessary '0 make up the deficiency. <>n or belore the dale when
<br />plyment of such lround rents. lales, assessmenlS,. or insUf"lnce
<br />premiums shall be due. If at any .im. lhe Bonower sholl lender '0
<br />the I..eftder, in u:cordaDce willi lite pro"ision5 or the nOle secured
<br />hereby, lull paymen' oIlhe en,ire indebtedn... tep,esalled 'h.r.by.
<br />the Lender sba1I. in CIImpulinllhe Imoun' of sucb ind.b'edn....
<br />credit 10 Ibe account of lhc BorTowcr any balance remaininl in the
<br />IUDds occumu1a\ed under lhe prOVisiOIlS 01 (a) of parqrlph 2 hereol.
<br />If Ibere sIiaII be a c1efault under any of the provisions ollhis
<br />instrumenl resuIIina in a public sal. oI'he premises covered hereby.
<br />
<br />88- 10~2OS--
<br />01 il ,he Lender ar:quUG me property OIberwlse ~Ier defaul~ ,he
<br />Lender shall .pp1y, a"be time of lite commencem.nl 01 such
<br />proc:eedinp, or II die 'ime lbe propeny is otherwise ar:quired. lite
<br />....nce lhen ..mlininl in lhe lunds occumullled under (I) of
<br />...qrapb 2 precedin.. as a credit apinst the Imount of principal
<br />then remaininl unpaid under said note.
<br />
<br />4. Thai !he Borrower will pay Iround ..nts. ...... ......ments,
<br />waler ...... and OIher IIlvemmental or municipal chara... fi_ or
<br />impositions, lor which provision has nol been made bereinbef_.
<br />and in default lhereof lhe Lender may pay ,he same; and lhal lite
<br />Bonower will promptly deliver lhe ofrocial receipts 'h.relor 10 lhe
<br />Lender.
<br />
<br />5. The Borrower will pay III ..... which may be Icvied upon the
<br />Lender's inlCrcst in Slid real estate and improvcmeJlas, and which
<br />may be levied upon this inslrUmen' or lhe debt secured hereby (but
<br />only 10 lbe utenllhol such is nOl prohibi.... by law and only 10 lite
<br />e.len' lhol such will nOl make 'his loan U1UriOUl). but e.c1udinl any
<br />income .... S"le or Federal, imposed on Lend.r. anil will file Ihe
<br />offICial receipt showinl such paymen' willl lite Lender. Upon
<br />violation of Ihis unde...kinl. or if lbe Borrower is prohibi.... by any
<br />law now or hereal'er ..istinl lrom payinl lite whol. or any ponion
<br />01 the II0resaid ...... or upon the renderinl of any coun deaee
<br />prohibi'i., lhe paymenl by ,he Bonower of any such ...... 01 if
<br />sucb law or decree provides lhol Iny amounl so paid by lite
<br />Borrower slullI be credited on lite debt. lite Lender sholl hove ....
<br />nahl to sive ninety days' written notice to the owner oltlle premises,
<br />requirinllhe paym.nl of Ih. debt. If such nOlice be liv.n. lhe said
<br />debt slullI becom. due. ""yabl. and eoIlec11ble II ,he e.piration of
<br />said ninety da)"i.
<br />
<br />6_ ThaI should Ih. Borrower Ilillo pay any sum or keep Iny
<br />(DyeD_Dt provided ror in this instrumcnl. lhen the Lender. I' its
<br />option, mlY payor perform Ibe sam., and all e.pendilures so made
<br />shall be added '0 tbe principal sum owiDl on lbe said DOle, sItaIl
<br />be secured be..by. and shall bear in_al lite rale set forth in lbe
<br />said nOle. un.il paid.
<br />
<br />7. Thallhe Borrower hereby usil'" lransfers and sets over 10 lite
<br />Lender. 10 be applied IDwanl lbc paymenl of lite nole and alllums
<br />secured hereby in case of a deflul. in the performance of any or the
<br />lerms and conditions of this instrumenl OIlbc said nOle. all the rents.
<br />revenues and illCllme 10 be derived from \he said premises durinl
<br />such time as the indebtedness slullI ..main unpaid, and the Lender
<br />shall hove power In appoinlany ....,1 or aaents i, may desi.. for lhe
<br />purpose of repairin. said p..mises and of renli~llhe sam. and .
<br />collcctinl the rents- revenues Ind income. and.. may pi)' oul of Slid
<br />incomes III expenses of rcpairinB said premises Ind necessary
<br />commissions and expenses incurred in reDlin.lnd manqin. lhe
<br />same and 01 collec.inl ren..1s lIte..lrom; .he balance remainin.. il
<br />any. 10 be applied .oward 'he dischorae of said indebtedn....
<br />
<br />8. That the Borrower will keep lbc improvemcnlS now existinl or
<br />hereal'er .rected 00 lhe property, insured as may be required from
<br />time '0 ,ime by ,he Lender apinstloss by fire and other hazards.
<br />casualties and CIInti...nc;.. in such amounts and lor such periods ..
<br />may be required by the Leader Ind will pay promptly. w"'n due.
<br />any premiums on sucb insurlnce, provision for paymenl of wllich
<br />.... nol been made b.reinbelore. All illSurance shon be carried in
<br />CIImpanies Ipproved by the Lender and lite polici.. and renewols
<br />Ih.reol slullI be h.ld by lhe Lender and hove II..ched ,her.,o loss
<br />paYlbl. c1a1L''' in lavor ollnd in lorm acceptabl. 10 ,h. Lender. In
<br />
<br />P.ge 2 of 5
<br />
<br />HUD.tz,'3DT-,
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