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<br />_ ! 1. payrt��nt ot Pairtstpai. laterost and lats�harge. �artower shafl pay when d�e�e D�a� ot, ana �nce�esc on.
<br /> : � the debt e+Rden�ed by the Npte and tate charges due under the Not�
<br /> - � 2. Monthiy Pryments of Taxea. Insuranee and Other Charges.eorrower snaa inccude�n eact�manthty Raymen�, ,
<br /> Yagether w'tA the princFpaf and interest as set fortb fin the Rote and any{aia charges, an instalfinent af any (a) taxes and s�eaal
<br /> � assessmeats kv€ed x to be[evI�agagtst the Prop�tty. (b�leasehold paymEnts or grotcnd rents on the P�peRy.and (c)pr�ntums for
<br /> insurance reqv�ed 6y Parag�aph 4.
<br /> - Each montNy instaWnent tor Kems(a).(b)and(c)stia�equal ort�2wdftt►ot the annual amounts.as reasor+abty estLr.r,'.�d by Lender,
<br /> pk�a an amaun!sut!ldeni to mainiatn an add�onai ha(ance aS not more trian one-s6Rh ot the estlmated amounts;.Th�8��a�nu�1 amourtt
<br /> tar eeM item ahalE be aaurte�tated by Lender wrthin a pe.�ad endng Qns mac��.�are an�em wau;d becec�_tSrlt�7,i�,�•;';Lender shafl . . �.
<br /> hotd the aas�jnf3s.coleeted tn trust to pay items (a). (b)mr�d �t�=frefct�,ilir�:;��;r}rx.:�ir�t: �
<br /> �_._`._ : � . lt at �::ifi�e the tata!oi the P�'L�ts he(d by Lectde►fcr.�it.tm���3:�tY��:au;xi,G�: t�by-�f,er with the future mar`�i�'�mertts;cs .. �
<br /> sach items p��bte to le�des prior tn t�e due dates oi such iiertis, excee�.fsjl more than orte-sixth the estimate6� amoant os..
<br /> payments requir�d to pay such kems whsi dte, and ff paymenfis or�the NoTe are current,then Lertder shaQ either retund the excess
<br /> over on�sbettl. o} the e�timatcb pagments or cre�t the excess ovnr on�sbRh of the esttmated payments to subsequent payments by `
<br /> Barrower, a2. tfte option ot Bosraws{ fl:the total o!the paymento sr�ade by Bartowa for item(a}, (b},or(c) is insufficient to pay the
<br /> itim vrhen due,then Borrower shaA pay to lertder arry ertwunt nseessary tn make o�p the deficiency on o�betore the date the ftem �
<br /> hecomts�e.
<br /> As used in thts Securiry Instrument. "Secretary" means the Secretary ot Hau�&�g and Urban Oevetapment or hts or her designee.
<br /> Most Security InsWments(nsured by the Secretuyt are insured under programs whtch require a�vance payment of the eotiro maRgaqe '
<br /> inwrsnc�pr�nium. it this Security tnsUu�ent is a wu insured under a program whicb did not requke advanee payment ot tha enti�e
<br /> rr,ort�inwt�ne� prert�tum, then e�ct► monlhty paymen!shtR �iso(ndude n'ther: (�an instalknent of tfte ennual mortgage insurance
<br /> � premium tu be paid by Lender to the Sec�etary.or(ii) a monthly charge inatead of e moRgage insurartce premium i( thts Security
<br /> tnsWmmt Is held by the Secretary. Each r�onthty instailrtneni of the mortgage insurance premtum sha11 be in an amount sufticient to
<br /> accumufate fhe fuli ennuai mortgage tnsurence premi��m with Lender one month pdor to the date the fu{I annuai martgage insurance
<br /> premium ts due to the Secretary. or f1 this Security Instrumer►t is held by the Secretary,each monthiy charge shail be in an emount
<br /> 8qusl to one-twet�tA of one-haH percent of ihe outQtand�ng principal balance due an the Note.
<br /> Ii BoROwer tenders to Lender ihe fu(t payment of ail3uma secured by this Security Instrument, BoROwer's acco�nt shali be credited
<br /> with tho bat�nce remaining for ail instatlments tor items(a),(b) and(c) and any mortgage (nsurance premium installmmt that Lend+�
<br /> has not becume obQ9ateA to pay to the aecretary,and Lender shel!RrampUy retund any excess tunds to Borrower. Irrsr.r�il�tt�y pdar tti
<br /> a toreclosuni sate of the PropeRy or ita acquis�ion by Lend�. Hams.rr�r�.accaunt shall be uedited with any bzlance r�ir•:ng for a1 • '
<br /> instattments tur items(a).(b)and (c). . .. � � ' .
<br /> 3. A��tEiCation of Payment�.• AA payments under p .;�,�phs 1 and 2 shall 6e epplied by Lender as tatlavr�. , � _
<br /> FirSt to the moRgage fnsurance premium to be paid by I.�ider to the Secretary ar to the monihly charge by the Secretary
<br /> intead ot the monthly moRgage insurance premium,un{ess Bnm�iwer paid the entire mortgage insurance prrtnium when this Securiry ::;r•;;,;'•�:
<br /> ;'t:�i/P��N.
<br /> , fns��vment was sigrted: •
<br /> S8C4V11d,to any taxes, special assessments, leasehold pcYments or ground rents,and fire, ilood and olher h�rd insu�ance �
<br /> � premlum���requked; � -
<br /> Th9S�l,r�tnterest due unQer the Note; , , � __
<br /> Fott��o a.�o►t.tr�tic:n o1 the pdncipal of the Note; �
<br /> . . ,
<br /> i Fifth.�ta!e c(�ar^,�s due under tfie Note.
<br /> � 4. Fi�i, Ftood and Oth�e �fazard Insuranee. Q��rawer shall in5ure all tmprovemrnto an the Froperty�,y�tc�_ther now in
<br /> � e�:ctence a subsequently etected, e�atnst any hazards,cas:�ar'�'es, and contingencies.ine(uding fre. far which Lr�-•�er requires �
<br /> ; +i.*,s�rance. This (nsura�ce shall be maJnfained ia tha amaunt�and Tur the periods that Lender requJros. Qairo•ner sha:i also insure all ;•.:
<br /> � �f.:.,yrV;,s�ar.�enta on the P►operty,whether now in ex(stence or sums�eQuently erected, agalnsf loss by tloods to U�e extent caquired by tho
<br /> Sac;ek;�~,y. GLl Insurance shall be carrted witt�companies epproYC�cb py� Lender. The lnsurance policles and any�enewat:t •�:.a'.I be held by
<br /> LenCer and ahaN include loss payabte ctausee in favor ot, and i:�r�tor^►acceplabie to, Lender. 's:
<br /> In the event oi losa.Borrower sha11 ghre Lender immedlate notice by mail. I.snder may make prool ot toss i1 not ma�'e promptly 6y � ��.
<br /> Barrower. Eech Insuranco company concemed is hereby suthari:rC and dlrected to make payment for suah loss direV;"� to Lendc-�.
<br /> instead of to Barrower and to Lende�j�intty. All or aay paR of;J��:insurance proceeds may be epplied by Lender, 2k;rs aptian, eith�r �
<br /> ' (a)to the reducUon ol the indebtedness under tha Note and tht;�a�r;urity InsUument,first to any delinquent amounts �µ{s�:�ad in the order '
<br /> in Paragraph 3,and than to prepayment of principal, o�(b)to 9he restoration or repair of the damaged prope�y. Any application of tho
<br /> , proceeda to the pdncapal sheN not e�Rend ar postpccra the due date ot the monthfy payments whiah are referred to In Paragraph 2, or
<br /> - chanQe the amount ot auch payments. My excesa insurance proceeds over en amount requlfed to pay a11 outstnnding indebtedness
<br /> und�the Note end thi�Security fnstrument shall be paid to the entity tegaty entitlsd thereto.
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