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<br /> 9a-=101029 .
<br /> Each mon:h{�inscaflment far items�a).Ib),and(c)shall equal on�-ttisclfth of tfie annual amaunts,a�reas�nabty rstimated
<br /> . by Lender.plus as amount suf�cicnt ta maintain an additional balartce oP not morc than rne-sixth of the estimated amaunts.
<br /> T,he fu{t anr►ua!amaunt t'or each i[em sha�l be accumulated 6y Lender t�•ithin a period ending one rnonth�efore an item a•ould
<br /> become delinquent.Lender sl�all hotd the amnunts zottected in trust to pay iaems(a),tb),and(c)6efore they become delinc�uent.
<br /> , � If at an}time the tota�of the naS�rctents heid by Lender for items{a),(b),and(c1,together a�ith the future monthly payments
<br /> far such itenns�ayable to Lender prior to ghe due dates of such items,exceeds by more than one-sixth the estimated amount
<br /> ' of payments required to pay �uch items wh:n dur.and if payments on the Note are current.then Lender shall either refund
<br /> the exress over one-sixth af the estimated payments or credit the excess over one-sixth of the estimated payments to subsequent
<br /> payments by Borrower, at the option of•Borrower. If the total of tZie payments made by Borro��er for item{a),(b), er(c)
<br /> is insuffzci�nt to pay the item when du�,.then Borroiver shall pay to Lender an'y amount necessary to make up the de�ciency
<br /> on or before th�date the ite�becomes due.
<br /> As used in this Security Ynswment,"Secretary" aneans the Secretary of Housing and Urban Development�r 6is or her
<br /> designee.i�tost Security Instruments insured by the Secretary are insured under prograuis which requise advance payatent of
<br /> the entire mortgage insurance premium.If this Security Instrument is or was insured under a progam which did not re�qaire .
<br /> advance paymem of th�enwe mortgage insurance premium,then each manthly payruent shall also inciude pitner:(i)an installment
<br /> of tlie annual mortgage insurance premium to be paid by Lender to the Secretary,or(ii)a monthly cfiarge i�sstead of a mortgag2 "
<br /> insr,�ancr premium if t6is Security Instrument is held by the Secretary. Each monthly installmeni of the mortgage insurance
<br /> prena;,�shall be in an amount sufficient to accumulate the full annual mortgage insurance premiam wetb Lender one month �
<br /> prior so the�:e the fuli annual mortgage`insurance premium is dtee to the Secret�ry,ar if this Serurity lnswment is heid
<br /> by the Secretar�,each monthty charge shaU be in an amaunt et�ual to one-t�velfth of one-haif percent oF the ouutanding principal �
<br /> bala�ce due on the Note.
<br /> . ,,'
<br /> If Borrower tenders to Lender the fuq paymen:of all sums secured by tfsis Security Instrument,Borrower's account shall
<br /> ise credited w�itla the balance remainin� for aIl ins4al[ments for iter�es (a). (b), and(c)�ed any mortgage insurance premium .
<br /> installmeat that II.ender has not becom�obligated to pay to the Secretary,and Lender s�all promptly refund any excess funds
<br /> to Bonower. Ir�ediasety priar to a foreclosure sale of the Propersy or its acquisiti�n 6y I.end�r,Borrower°s account shait '
<br /> ' be credited with any balance rerrsaining for all installments for items(a), EF►), and(c). �
<br /> 3. Appllcadon of Payments. AII�ayments under paragra�shs 1 and 2 shall be ap�LTed by Lender as follows: �
<br /> First,to the morigage insurance Rremium to be paid by Len�er to the Secretary Qr tc�the monthly charge by cfie Secretary "
<br /> � instead of the anflnthly mortgage insura�ce premium,unless Borrower paid the entire��tgage insurance prec���a when this
<br />, I Security Instrument was signed; - �
<br /> � Second,ta any ta�e�,s��ial ass�s�enu,teas�hald payments or ground rents�ar�LL�re,flood and other ha�d insurance �=+-�
<br /> premiums, as re�uir�it;
<br /> � Third, to fiuterest due under the��te; ;`�-;
<br /> � Fourth, to amortization of the prncipal af t�e Note; � i :�_
<br /> ;.,�,;�.�:°;
<br /> Fifth, to late charges due under the Note. , .� ,,..:,
<br /> �.f.
<br /> -';,`�x�:-
<br /> 4.Fin,Flood 9ud Ot6er N�zstrd Insarxace. Borrower shall insure all improvements on the Property, whether now in , :�.;�:
<br /> existence or subseyuently erected,against any hazards,sasualua�,and contingencies,including�te,for which L:eder requires � . .
<br /> insurance. This insurance shall be maintained in the amounts�d for the periods that Lender requires. Borrower shall also � " . -
<br /> ' insure all improvcments an the Property,whether�ow in existence or suhse�:iently erected,against toss by floods to the ext�i
<br /> ; required by the Secretary.All insurance shatl be carried with companies��L r�ved by Lender.The insurance policies and any
<br /> renewals shall be held by Lender and shall include loss paya'*�:.�,��ases�- C:.vor of, ,:ad in a form acceptable.`�3� Lender. , . ��i—
<br /> !n the event of loss,Borrower shall give Lender immed:�u R:�e:ce oy r�il. L..�ti:c may make proof of lah�R-{f not made
<br /> : promptly by Borrower. Each insurance company concerned is i:;.:�y a�.::�.�,:�u::�;.�..:;� cirected to make paymer.t far such loss -
<br /> directiy to l.ender,instead of to Bonower and to Lender jointly. Al1�:��-� �.��-t of the insurance proceeds may be applied •�,;�
<br /> , by Lender,zz its option,either(a)to the reduction of the indebtedncss 1mi�:the Note and this Security lnstrument,first to � ' :'c} i;:
<br /> any delinque;�u axnounts applied in the order in Paragraph 3,2.^.3 then to prepaymeac c.f prineipal,or(b)to r:i�e cestoration -"� '
<br /> � or repair of the�amaged prop�rty.Any�application of the pro::�:.:s to the principa!s::�l[�ot extend nr post�;�e t�e due date � '
<br /> of the monthly Qayments whic�are referred to in Paragraph 2,a:change the amaunt of such payments.Any ex:.�ss insur�a�:� .
<br /> proceeds over an amouns r���ired to pay all outstanding indebtedness under the Note ar�d this Security Instrument shu�::��e 1�����.
<br /> paid to the entity legally e�-�it:ed ti;�reto. . •
<br />� ln the event of foreclosure of this Security lnstrumem ar t.;;her transfer of titFe to the Property that excinguishes the � �
<br /> indebtedness, all right, title and interesz of Borrower in and to insurance pe':�:ies in Porce shall pass to the purchaser.
<br /> 5.Prtservation aed Matoteeance of Ihe Proiscriy, I.es�ssehotds. Horro:��r shall not commit ����t�:or destroy, damag:���
<br /> , s�s��stantially change the PraDerty or allow the Propzrty to deteriorate,reG:r;::able wear and tear exc�t�ed. Lender may inspe�:t
<br /> the property if the property is vacant Qr abandoned or the laa.r, :s in dePault. Lender may take reasonable�c.�ic,n to protect
<br /> : and preserve sL;[�vacant or abandoned praperty. If this Seca;i•c; 3nstr�ment is an a leasehold, �orrowrr sFcu11 romply with
<br /> ihe provisions of the lease.lf Horrower acyuires fee title to the Property, t�tc leasehold and fee title s�all not be mergcd uhless
<br /> �,er�der agrees to the merget in writing.
<br /> 6.C6�trtes to Borrower aed Prottctlon v!Lender's Rlg�fs un�e Property.Borrower shall pay all governmental or municipal
<br /> � charges,fines and impositions that are not included in Paragraph 2. Borrower shall pay these obligations on time directly ta
<br /> the entity which is owed the payment.lf fai[ure to p�y would adversely af fect Lender's interest in the Property,upon Lender's
<br /> request Borrower shal! promptly �'urnish to Lender receipts evidencing these payments. �'_-==_
<br /> ff$orrower iails to make these payments or the payments required by Para�raph 2,or fails to pertorm any other covenunts !
<br /> and agreements containecl in this 5ecurity Inst�ument,or there is�legal proceeding that may signific�ntty affect Lencier's rigi�ts ! .
<br /> in th�Property(such as a proceeding in bankruptcy,for condemnation or to enforce iaws or regulations),then Lender may �
<br /> d�an��+�y wh?ievet is�ecess��y tt�prof:ci tt�.�s�ue of th�E'rup:.rty aac!Lcncicr's ri��is in tE�e�ropE�iy. in�iudii��y�yu�rut -
<br /> of taxes, hacarcf insurance and other itcros mentioned in ParagraPh 2. �
<br /> � Any amounts disbursed by l.ender uncier this f'aragraph sh�ll become an additional drbt c�P Uo�rowrr attd be secured
<br /> bv this 5ecurity Instrumcnt.These amounts sh�l1 bear intcrest from thc date of disbutscmenl, at thc Nutc rate, and at the
<br /> option oF Lendcr, shall be immediatety due and paynble. �
<br /> • 7. Candemn�tton. 'Che proceeds nf arty a�vard ar claim fur ���tt�a�:es, direct e�r ron�equcutia), in cuunectiun �cith anp �`'�
<br /> ctx�dernnaiiaf c�r�►ihet t�kin� of���y part e�i tl�c f�ruperty,or for eonveyance iu�,I.tCI'(��fO11EICll1t};�tlf�tl,arc hrrrby a5si�;neJ ��
<br /> and Sh�l!be�3ic#tc�Lcnder ta thc cxtcitit af fhe fuil tuuc,u���oF the iudcbtcdncss th<�t renia►n��mpaid�eniicr thc l�utr and�hi� `T �
<br /> Sccurity Instruntcnt. I cnder sl�all ap�+ly cuch rrurEC�s tu thc rcducticm c�P tf�e i�TdcNirclnc�� undcr �hc N��tc and th��5ccurit�•
<br /> Intittumcur.fir5t tu,iny delinqricnt amourrts���plic�l in tltc orcler�r„��dcd in t'su.��;r:�pf� �,;in�l thcn t�,p►rp.�ymrw��f�,ru�capcil.
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