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<br />~. 83.-- t~0055~f <br />MORTGAGE ADDENDUM FOR <br />' REPAYMENT OF SECTION 235 ASSISTANCE <br />The rights and obligations of the parties to the attached Mortgage _ <br />ane e~ressly Wade subject to this Addendtan. Zf there is any conflict <br />betwePlt the provisions of this Adde~um and the provisons of the <br />Mortgage, the provisions of this Pddendum shall oontzvl. <br />1. Zhe debt secure3 by this instriarent shall include mt only the <br />Note recited above but also any assistance paid by the Secretary <br />in accozdanoe with Section 235 of the National Housing Rct on <br />behalf of any party to the Mortgage. . {including any party who <br />takes title to the property subject to the said Mortgage or <br />assumes said Mortgage } identified as FHA Case No. 321-091152-256 <br />{Insured Mortgage- )• <br />2, the debt-will be due and Payable when the first of the following <br />occurs: <br />(a) Title to the Property is conveyed to a party who is not <br />eligible for Section 235 imrtgage assistance payments, or <br />fb'T ~..aat <br />(c) ~e property oovered by the Insure3 Mortgage is rented <br />for a period longer than one year. <br />3. If the r.,G„r,~ Mortgage _ is not paid in full when payment <br />is due under paragraph 2, the Seczetazy may defer payment until <br />the Insured Mortgage is paid in full. If payment is deferred, <br />the debt will bear interest at the rate of Fourteen percent <br />per year from the date the debt is due ti^~der paragraph 2 tmtil the <br />full amount of the debt and interest is paid. <br />In witness whereof, Borrower has exec~rted this Addendum to the <br />Insured_Mortgage, <br />`~~l `c'~~r~ :~/ice.; ,r i ~ rya <br />BOLT'Oht'r ROBERT L. BROWNLEE <br />~.., ? <br />`~ <br />Bortr 1ACKIE L. BROWNLEE <br />7amiary sj,~ 1983 <br />i)atE <br /> <br /> <br /> <br />