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<br /> 9d�- 101092 ;
<br /> , Each mnnthfy installment far items(a),(b),and(r)shalt eqet��one-t��►clfth f�f the annual umounts.as reasonably estimate�
<br /> � by Lender.plus an amount sufficient to maintain zn additional baIanee of nai more tlian cme-sixth of the estimated amounts.
<br /> The full annual amouni for each itenn shall be accu¢nulated b}LendeF�►e�hic�a period ending onc ritonth befpre an item would
<br /> become delinquent.Lender shall hold the amounts coli�cted in trust ta pa5r items(al.(b).and(c)before they become delinauent. .
<br /> _ . r If at any ame the tota!of the payrs�ents he[d b}•Le:�der for items(a),�b).a��(cl,tagether aith the Cuture monthiy pay�nents � _
<br /> _ � for such items payable to Lender prior to the due dates o:s�c�s i�ems,exceeds by more than one-sixth the estimated arttount
<br /> , of payments required to pay such items when due,and if pa}�ne��ts an th�l�'aie are current, then Lender shall either refund
<br /> the excess over one-sixth of the estimated paynients or credi�the e.scesso�cY�;iuie-sixtt�a�ti►e estimated payments to s�5sequeiu
<br /> payt*ients by Borrower,at the option of Borrotver. If the tota�af th:pay;aents made by Borrower for item(a),(b), ar(e}
<br /> is snsufficient to pay the itern wh�n due,then Barro�er shall pa�� to l.e�:t2r•any amount necessary to make up the deficiency �
<br /> �, on or before the date the iterrt becornes due.
<br /> As usQd z�t�i.s Secarity Instrum�nt, "Secreta.n�"m:an;tha Sec;et�Ty of Housing and Urban Development or his ar her ,
<br /> — • designee.M��t Security Instruments insured by th:Secreta�:aaG Ynsi+red under programs�vhich require advance payme�at of
<br /> the entire m�rtgage insurance premium. tf this Sec�rity frn�trum:ctt is or was insured under a pragram which did nut require
<br />- advacce payment of the entire aiflrtgage insuranx pre.�ium,then each rnonthly pavment shall also include either:Cl��nstallment
<br /> - of the annual mortgage insuran.e pre.fnivan±o be paid by Lender to the Secre4ary,or(ii)a monthly charge insteaa of a mortgage
<br /> insurance premium if this Sec�rrit��instrume�e�is held.by the Secretary. Each manthly installmenf of the mortgage iasurance
<br /> premium shall be in an aanauni suf�ci�ref ta accumulate the fuil annual mortgage insurance premium with Lender one month
<br /> pri,�r to th�date th•f�lS a�nu�.r�aFt�be insurance premium is due to the Secretary, or if this Security Instrument i�held
<br /> � hg�•t�c Secrctary,eac�rn��y ctt��ge shall be uz�rz:�.rnnunt equal to one-twelfth of one-half perc�nt of the outstanding princigal
<br /> ��Jars.e due on th•:Ata��. .
<br /> ; � . �
<br /> � If B�rr�va�.teRdets tQ Les�d�e�ef:::��G,�.�_�r��e f a�i�R,��s�ured by this Securi�rx 7zsrrumet.t,Borrower's accaunt shall .
<br /> . . . .. be credited�v�x th�ba[ac��rs�.G:'„�ir,;��c=h� ��;�i-:sts+_'�flw*_t_ms(a�.1�), and (cj and any!rLC�r�ag�"s;c�.�!�a.�*;ce premiu� ;
<br /> ict=ta..�:IIli tl1=r$.Erid�IS:3L`5 2::.t b0^•.0�:�W!sg��:�s�r^u�e 3�te•�.-,��-3 Lender shall prom�¢��re�::-��a�zYr.ess f�;�s
<br />- co i���Yrower. I.���nediat.��tc��r to a`�s�tosu:e�� af�Iz:�=r;3�:t�z-=,s acquisition by Lend�eT.�cr,�:�•er's z:,�oun�s�� �
<br /> , , . . . ,
<br /> t���xzd:ted�;:c+.�?..ny ts�'::�.n��r�nairL�g for all i:�s:a:'sme�.ts 1::1_��.:�Tsfi'�:�- (b), and(c).
<br /> 3. �p�tioa of��raz�ss. AIr�a�•ments u:rxwer paragraphs 1 a.�ci:?•sball be applied by G.�*����c as folto;�s: . �
<br /> � �. �r;rst,to the mortgag�::.�*s4ra:�ce�sremium t�fiti:�aid by Lender to tY*_��rretary or to the marc��*f j charge by the Secr:�-y
<br /> i;,�ead of the monthly mar.gage ins�,::�ace premium, unless Borrower paid the entire mortgage insurance premium when this .
<br /> Security lnsirument was signed; �
<br /> ; Second,to any taxes.special assessments,leasehold payments or ground rents,and fire,flood and other hazard insurance �
<br /> pr�miums,as reyuired;
<br /> ' Third, to interest due under the Note; �
<br /> Fourth, to amortization of the principal of the Note; , -
<br /> Fifth, to{ate charges due under the Note. � ,
<br /> 4. Fire, Flood and Other Hnzard lasurance. Borrower shal! insure all improvements an the Property, whether now in
<br /> existence or subsequently erect�d,against any hazards,casualties,and contingencies,including fire,for which Lender requires -
<br /> insurance.This insurance shaU be maintained in the amounts and for the periods that Lender reyuires. Borrower shaU also =
<br /> insure all improvements on the Property,whether now in existence or subsequently erected,against loss by floods to the extent ' –
<br /> required by the Seeretary. All insurance shall be carried with eompanies approved by Lender.The insurance policies and any ��.�
<br /> _� rene�vals shall be held by Lender anw shall include loss payable clauses in favor af, and in a form acceptabt��a, Lender.
<br /> ; In the event of loss,Borrower s�all give Lender immediate notice by enail.Lender may make proof of tass if net made
<br /> , ' promptly by Borrower.�:h insurar_ce campany cancemed is Nereby a�t�aoriz2d 2ad directed to make paymeat`es sach ioss �
<br /> � directly to Lea�;��*,inscea�of co BaL�ower and to Lender joi�tij;. A7104 any part�i tne insarance proceeds rs;�be applied �; �
<br /> , by Lender,a¢i�s uptia�,�ither(aD E�t�te reduction of the in��r.'ktedn�ess �nder the Noie and this Security Ins:7�::�nent, first to -_
<br /> any delinquent amourcts a�splied in eLi�order in Paragraph 3, and then e�prepayment of princ���1,or(b)to the restor�t:�an
<br /> vr Tepair of st�e damaged property.�ay application oF the proceeds to the principal shall not exter.�or postpone the du:�:.ts
<br /> of'the monthty Aayments which are re�erred to in Paragraph 2,or change the amounc of such payments.Any excess insLranee . �;�_
<br /> __ proceeds o�eT wn amount reyuired to pay all outstanding indebtedness under the NeLe and this Security Ins�7i*:�.nt shali be � �
<br /> paid to the entity legally entitled thereto. '
<br /> ln the event of foreclosure of this Security Instrurnent or other tra�sfer of title to the Property that extinguishes :1?c
<br /> indebtedness,all right, title and interest of Borrower in and to insurancP policies in foree shall pass to the purehaser.
<br /> ' S.PreservAtion And MAinten�nce oP the Property�l.easeholds. Borrower shall not commit waste or destroy,damage or
<br /> substantially change the Property or allow the!'roperty to deteriorate,reasonable wear and tear excepted. Lender may inspect
<br /> ' the praperty if the property is yacant or abandoned or the loan is in default. Lender may take reasonable action to protect
<br /> and preserve sueh vaeant or abandoned property. lf thls Security Instrument is on a leasehold, Borrower shall camply with
<br /> the provisions o1'the lease. lf Borrower acquires fee titic to the Property,the leasehold and tee title shall not be merged unless
<br /> Lender agrees to the merger in writing.
<br /> 6.Ch�rges to Borruwer and Protection ot Lender's Rights in the Property.Borrower shall pay all governmental or municipal
<br /> ch�rges, �nes and impositions that are not includrd in Paragraph 2. B�rrawer shall pay thesc bbligations on time dircctly to
<br /> the entity�vhich is o�ve�chs payment. If failure to pay would adversclyaffect Lendcr's intcrest in tre Property,upon Lcnder's
<br /> � request Borrower shaI! �o3mpily furnish to Lender receipts e��idencing these payme::ts. � ` --`
<br /> I`Borrower fails tq.m�ice thesepayments or ttt�payrreents required by I�,a.ragraFi�2,cr fails to G�:��Z�r:;�r,�other covett•i!-cs �
<br /> an�.agreemenis eontair,:��a this Sec+arity lnstrui��.�i��,or there is a legal�roc�:r�ing tca:may signi�c:ir�3y afFect Lender's rignts i i
<br /> i!��the Property(such as a proceecfing 3n bankru�tcy, for condemnation c, to enForc�e�u�NS or regu;ations),tiicn Lender may
<br /> � � tlo and pay tv�atever is necessary to�s�tect the value af the Property and l.eader's ri�hrs in the Pmperty,in,�iu.'ing payment �
<br /> � oP tax�s, haz�.tz�3 insurance and otttc� i�ems mentioned in Paragraph 2. �'
<br /> �-r
<br /> � � Any amounts clisburRed by Lender undcr this Fatagraph shall become an additional debt of t3orrower aRd be secur�:d �
<br /> by this Security lnstrume:,t. 'Ihese amounts shap bear interest irom the clate of disbursrment.at the Note ratr. and at i9�e �
<br /> � option of Lendcr, shall be immec1iatcly due and payable. �."
<br /> _, 7. Curtdemn�tiun. 7'he prncecds of any award nr elaim fot dtemagc�. �iircct c�r cvnsequential, in ronnertian with �ny �
<br /> coi�tiemnation e�r c�ther t.tki»g aP�ny part oi the F'ro�erty.ur fur c�m•e}anc:e i���d�icr c�t'rondemnation. ��re hereby�isvigned � ,
<br /> � -- ar�ef chall bC paid Ic�(.cnder ter ttte exteni ui Ihe 1'oii nrnotcnt�f the indebtednesc that remains unpaict under IhC Nt►te�tfd rittt �
<br /> Sccurity Insuumen�. Lendcr shall a►�ply Sttrh rrocecds ta Nte teduciiuii c�f llte inJebtednc�ti undc: th� Nou and thiti Sccurity
<br /> � - Instrument.firsi t��any dclmyucnt .wtni�ntsavplicJ iti thc c�rder prE,vidcc� in 1'aragr:��h;,and then tc,�re��.ipn�rnt c,t t,riuci�i:�l.
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