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<br />MORTGAGE ADDENDUM FOR <br />' REPAYMENT OF SECTION 235 ASSISTANCE <br />• 83--i1U06~s~? <br />The tights arxi obligations of the parties to the attached Mortgage <br />are e~ressly made subject to this Addendt3n. If there is any conflict <br />between the provisions of this Addendum and the provisoes of the <br />Mortgage, the provisions of this Pddendum shall control. <br />i. 'She debt secured by this instrum~st shall include not only the <br />Note recited above but also any assistance paid by the Secretary <br />in acoozdance with Section 235 of the National dousing Act on <br />behalf of any party to the Mortgage.. {including any party wt» <br />takes title to the property subject to the saisi Mortgage or <br />assures said Mortgage ) identified as FHA Case No. 321-091288-266 <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 rturtgage assistance payments, or <br />~ ~s~a-cot <br />(c) ~ property covered by the Tne„r*x7 Mortgage is Z'FS1tELI <br />for a period longer than one year, <br />3. If the Insured Mortgage is not paid in full when payment <br />is due ;alder paragraph 2, the Secretary may defer payment until <br />the Insured Mortgage is paid in full. If payment is d~elrfxed, <br />the debt will bear interest at the rate of Thirteen and One percent <br />per year fzun the date the debt is due under paragraph 2 until the <br />full am><uit of the debt and interest is paid. <br />In witness whereof, eorru~er has executed this Addendua to the <br />Insured_Mortgage. <br />f.-- f <br />BOZYL71der R. ANDREW HANSON <br />~ ICIC NN HANSON <br />~~hrir.nrv 1 1987 ~~, <br />t.,. <br /> <br /> <br />