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<br />Wi't' kart ~ ~-: o - tip. =n <br />97ZZL1wPS' STEPHEN R. k'ItEEMAN <br />1 <br />` 82- i)f~460(l <br />MORTGAGE ADDENDUM fOR <br />REPAYMENT OF SECTION 235 ASSISTANCE <br />The rights and ohligations of the parties to the attached Mortgage - . <br />are expressly made subject to this Addendum. If there is any conflict <br />between the provisions of this Pddendun and the provisoes of the <br />Mortgage, the provisions of tku.s Addendisn shall oontmi. <br />1. The debt secured by this instnment shall include not only the <br />Note recited above but also any assistance paid by the Secretary <br />in acxordanoe with Section 235 of the National housing-Act 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. 3z1-os8744-256 <br />{insured Mortgage ~• ' <br />2. The debt will be dve and payable when the first of the followi.nq <br />occurs: ;~ -. <br />{a) Title to the Prope_+°ty is o~r:veyed to a party who is not <br />eligible for Sec'.ion 235 mortgage assistance psym=nts, or <br />{}~} -arA-.mt <br />{c) The property covered by the Insured Mortgage is rented <br />for a period longer t~san csie year. <br />3. If the Insured Mortgage is not paid in full when payment <br />is due under drag=aah 2, the Secreta.Yy may defer payment ~til <br />the Insure3 Mortgage is paid in fall. If payment is deferred, <br />the debt will bear interest at the rates of _g~,,,-~P~n percent <br />per year frtm the date the debt is due under parayzaph 2 until the <br />full amount of the debt and interest is paid. <br />Zn witness whereof, 8orsowP-r has executed this Pddendian to the <br />Insured-Mortgage, <br />~~ '~~_ .70LfiEN $. FREF2AAN <br /> <br />ttrtp~~pr ?_y~, 1982 <br />Llnte <br /> <br /> <br /> <br /> <br />