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__. __ - <br />J : ... <br />` ~~ ~ MORTGAGE ADDENDUM FOR <br />REPAYMENT OF SECTION 235 ASSISTANCE <br />- __ _: .. _ g3-.~~U008f3 <br />~ry The rights acrd obligations of the parties to the attached Mortgage ---._ <br />are Cxplessly made Slib]e'Ct bD this AddendtIIm. If these Ss any conflict <br />between the provisions of this Addendum and the provisans of the <br />Mortgage, the p~mvisions of this Addendum shall control. <br />1. The debt secured by this instna~rt shall inclu~ not only the <br />Note recited above but also any assistance paid by the Secretary <br />in accordance with Section 235 of the National Housing Act on <br />behalf of any party to the Mortgage_:~__ (including any party wt» <br />takes title m the property subject to the said Mortgage or - <br />assumes said Mortgage...) identified as FHA Case No. 321-091289-256 <br />(Insured Mortgage= - -) <br />2. T2re debt will be due aryl payable when the first of the following <br />occurs: <br />(a) Title m the Property is oariveyed to a party who is not <br />eligible for Section 235 mortgage assistance paynents, or <br />-{~ - .. ~,n ...,.. <br />(c) The property covered by the Insured Mortgage is rented <br />for a period longer than one year. <br />3. If the Inszu:ed Mortgage _ is not paid in full when payment <br />is due under paragraph 2, the Secretary may defer payment until <br />the Insured Mortgage is paid in full. if payment is~d~ferred, <br />the debt will bear interest at the rate pfThirteen & One- p~~t <br />per year from the data the debt is due udder paragraph 2 until the <br />full amount of the debt and interest is paid. <br />In witness whereof, Borro«er has executed this addP.+.~.++ to the: <br />InsuredaMortgage. <br />1 <br />BENJAMIN R. OLSON <br />=BDrtOwer JULIE A. OLSON <br />February 28, 1983 <br />Hate <br />• ~ J <br /> <br /> <br />s <br />