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<br /> 1.Rsymtat ot PAnctyal.[nterest aad l,�te CAuge.Rorrov►er shal!pay when due the princip3)af.and:ntere�t an,the debt
<br /> evidenced by the Nate and tate chazges due under tf�e I�tote- ,
<br /> 2,1Vlosthty Pryments ot Tue�.Insannce and Otker Cb�rges.Banower shall incl�de in each monthly pa}-ment.togethtr witfi
<br /> ( thm principal anQ interat as set forth in the Note and any tate charges,an'snsiallment of any(a}ca�es an� xpecia!ass�smems
<br /> , � tevied or ta[x fevied against che Property. (b) teasehold payments or ground rents on the Property,arid(c� premiums for
<br /> insurance required by Paragraph 4.
<br /> Each monthly inssaltmtnt for items(a).(b)aad(c)shall equal one-twelfth of the annuat amaunts.as rea.sonably esticnated by
<br /> Leader.pIus an amount sufficieiu to maintain an additianal balance of not more than oae•six¢h qf ttEC estire'tatM amounts.The
<br /> full annua!amount for each ite�rt shall be accumulated by Lender within a periQd ending one manth beforc an.itan would
<br /> becotae delinquent.Leader sFaal!hold she amounts collected in trust to pay items(a),(6D�d tc)before the;:btcom�detinquent.
<br /> if ai any time tht tatalof the paymenu held by t,ender for ittms(a),(b),and(c),togtther with tht futueemP�h1}±p�ments
<br /> for such items paya�te to Lender prior to the due dates of such items,exceeds by mvre than onc-sixth thc esu�azed amaunt af
<br /> �ayments required to pay such items whea due, and if payments on the Note are current.then Lender st►a}1�Cith�:ret'und th�
<br /> euccss ovtr ono-sixth of the estimated paymenu or credit the exces5 over one-sixth of ihe estirnated payr�<nts,ao ruBtequent
<br /> pa�nents by Baaawer.at the option of Bonower. If the iotal of the paymen[s rnade by Barrower�or it�.(a),.(6}.or(c�ts ,
<br /> insufficient to pay ti�e item when due.then Borrower shal!pay to Lender any amount necessary to make up the�Sr��ency on br
<br />� , 6efore thr date the item hecomes due.
<br /> As u�ed in this Sscurity Insuument, "S�cretary"means the Secretasy of Housing at�d Ur�au Devetopment or his or lt��
<br /> desi�a.l�Iost Security Instrume�::insured by the Secretary-are insured undec programs which rc�;:zx�advance payment of the
<br /> entire mortgage insurarice prc�ti��.:,.:f this Security Instrument is or was iaswed un�cr a ptogra W��4?�siid nat require advance
<br /> payment of the entire mortgagc insuranee premi�m.then each month[y payment shall sl:.cr,i�ct�.t;,j:e:.��'�?�n�='�ent of the
<br /> annua!rrtortga8e insutance premium to be paid by Lendcr to the Secretary. or(iij a�:;,v�J.��::-1:.����r.a��f a mortgage
<br /> insurance prensium if thu Security Inmument is held by the Secretary.Each monthfy ins*�:r:;.j:r�t-�e .,�urzgage insuranze ,
<br /> prrmium sball be in an amount sufficient to accumulate the full annual mortgage insurance�Sr��u:n aiti�Lender one manth
<br /> prior to the date the fult annual mortgage insurance premium is due to thc Secretary,or if this Security Instr.ims�t is held 6g the
<br /> Secretary,each montbly charge shall be in an amounc equal to one-tweifth af one•half perccnt.of ihe outsa�.=.__ding principal
<br /> batance due on the Note. �
<br /> If Borrower tenders to Lender the futl payment of all sums secured by this Security Instrument,��orrowet'saccount shall be
<br /> eredited with the balanee remaining for al!installments for items (a), (b) and (c) ana any..�ortgage insurance premium
<br /> instailment that Lender has not become ob:;gated to pay to the Secretary.and Lendcr sh�l!pramptly refand any excess funds to .
<br /> Borroaer. Immediately prior ta a foreclas�;re sale of the Property or its acquisit.i�n by Lendet,.Borrower's ac�ount shali be
<br /> ecedited with any balance resis�inB for all installmenss for items(a),(b)and(c)�. •
<br /> 3.Applicados ot P�ymea'�.All payments under pa�agraphs 1 and 2 shal}be applied by l.eader as follu�se:. � -
<br /> IAS ,to the martgage i:uurance premium to be paid by Lendet to the 5ecretasy or ta thc manthty chargo L;rhe Secrr�r�ry •
<br /> i�tead of tht inoathiy mongage insurance premium,unless Borroue,r paid the entire mortga€e insurance prerri�i�n whc�this
<br /> �.surity Instrumtnt was�i�;_.d:
<br /> SECO D,to any taxes,sr:cial assessmen[s.leasehcid sayments or grounc!rents.and 6re.tlood and ot her h:�.:r�insurance
<br /> premiums,as required:
<br /> TH1R ,to interest due under the No:e:
<br /> FOURTH.to amortization of the principal oi the I3ote: �
<br /> F7I�i'H,to[at:charges due under the Nate. ,�
<br /> 4.Ftne,�'loa�and 0i6er l��.nrd In4unnce.Borrower shalt insure a'S S:r:proveesecsu�n the Property.whether tsow in existence
<br /> or subseque�.:Fy erected.�:nst any hazazds,casuaities,an�eontit�r.r.:ia,inclsd�rk�re,for which Lender reqsures insurance.
<br /> ' This insura�V:e yyall a�main�ained iR the amounts �nd fae the gzr,in•.is that Lr.tEdcr requires. Borrawer shal! also insare all . -
<br /> improvemenr.�c:;�the Property,whett'�er now in existenc�ui suF�ir�a�tr,t;y erecced,against loss by tioods to thecx:ent required by , �
<br /> the Stccetar;7.�111 insurance shali 3x carried witfi campanieu app�nce�l t�y Lcader.'�`l,e insurance�olicies zr,da::y renewals shall ,
<br /> t+s!�etd by Lender and�ha11 inctu�3e to.;s payabta clau.;k�ire,fnvor bf.and in a fu�n acceptable to. Ixndez.
<br /> In eh:event of loss,Borrawer shall givG Ltndxt imr.s�cliacu na�ice by mpil,�I.endes may make proof of loss if�;at made prompt-
<br /> ' ly by Borrower.Each inaurance cor.'��iy,coacarnect i�hereby�utharizcd and directed to make payment Por nch loss directly to
<br /> Lender.instead of to Borrower and to l,en�et jn'�*�tlyt.A.)1 or any paTt c►f Ihe insurance proceeds m�y be appiied by l.ender.at its
<br /> option,eitRer(a)to the reduction of�tht�in�eb2adness under the N�tc and this Security Instrument, first to any delinquent �
<br /> ainaunts applied in ths otder in Para�r�ph�2, nnd Ihen tn prcpayme�t of princi�.al.or(b)to the restoration ar repair of the _
<br /> Qz�aged propeny. Any application of the proceeds�o the princi�al shall nat ea:c^d or postpone the due�ate of the monthly
<br />' psyments which are referred to in ParagraDh 2.or chz:�g:�he amount of such pxy.,ze.^cs.Any excess insura»cc proceeds over an ':�s
<br /> amount requircd t�pay all outstanding indebtedness undec the Nate and this Secur�tp;ns:rument shall be p:�i•i ta the emity legal- �
<br /> ly entitled thereto.
<br /> In the eve.,of foreclosure of[his Securiry Instrument or other iransfer oP title tu the Prc:pery chat extingulshes the in-
<br /> debsedaess,ail right,title and imtrest of Borrower in and to insurance policie9 i:� force shaA pass to tlt�: pucchaser.
<br /> 3. Prtservsflos s�sd Mniateaasse of Ihe Ptoperty. Letse6ofOs. Burrower shss'.l not commit wastc�r destr�y,damagc or
<br /> substantiuily ch��gn the Property or alluw thr�'roperty to deteriorate, reasonable wear and tear excepted.Lender may inspect
<br /> the proptrty it the property ia vacant or obendoned or the loan is in default. l.ender may take rea5onuble action to protect and
<br /> preserve such vacant ot abandonrd prop:rty.lf this Secu�ity Instrument is an a leaschold,f3orrower shail comply with the provi-
<br /> sino�aP the lease, lf 8orrower acquires fce titlr to the Property, thc teasehold und fee title shatl not be�nerged unless I,ender
<br /> ag..�ees to the merga in writing.
<br /> 6.Char�ts to$orro�rs and Ptatectlun o!f�aQu's[t3=hts in the Prapeatp.Borrawer thali nay all guvernmental ar municipal
<br /> chuges.fin�and impositions that are not included in Aaragraph 2.Hurrou•er shaEl pay these obligaiions on iime directly tu the
<br /> entity which is owe�the payment. If failure to pay would adversely a(fect l.ender's interest in the F'r�perty,up��n l.cnder'c re-
<br /> quest Borrower shall promptty furnish ta I.ender reccipts cvidencirrg thtse payments.
<br /> It f3orrower fails tv make thtse payments ar the payments required by Paragtaph 2,ot fails to pecForm any oiher co�enants and
<br /> Agreements cama:ned in this Security bscrumenl,ur there is a legal praceeding that may significandy�ifec�l.euder't right�in ,_______
<br /> the Prnjrerty(suci►as a proceeding in Dank►uptcy,Yur c�ndemnatiun e�r tv enPorce la�►s nr regulations),then Lenslct may du and ,
<br /> pay whatever is necessary to protece tht value af tlte Ptoperty and 1 ender's rights in�he f'r�perty.irtcludu�g p�y�uent c+f taxe�.
<br /> hazatd insurance and uther items menti�med it�Paragraph 2.
<br /> .',tt�asr,�rurt��':,�sut•,w�,Ses�:as uttd_s ittss P�tt.ae�ph �� t,o•_„me�±�?�S�ltjnnal�leht n�FtnttnwM.�:�d b°tE'tlttC4l CSY II11S
<br />' Sesuriry Instrusnrnt. These amounts st�all bear interest from the datr�+i d�sburti�ment,at the Note rate. anJ �rt tlie��rtiun��f
<br /> l.ender.shall be immcdiately due und paynbfe. �
<br /> 7.('o�Ae�utiaA.TAe proceeds of any�►+�ard c,r.l;�n�for damaKes.eluect ur�utzsryuent�al,in�c�ni�e•;c:nu u�eh any cundcirs �
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<br /> naLon or olhet taismy ot uny putt uf the Pro��rty,<�t fcit�uU�cydttCC i8 plB�C bf tondCtnna�tnn,�fC PtClChY B��IF:r.rcl ur.d�halt��r
<br /> p��t!to I.tnder tb thc ceiCnt of tht futt ame►unt nt the iodchiednecs that remama usspatd undcr rhe'ti��tra��c!dn.tie�urny(nsc�u ,,r
<br /> meot.Lender cliatE apply such�ro�ccils rc�the redu�nasi�f�hr irtcichtedncsc und:r shr'�otc.�;�d�h��h:��urci v Im!rume�u,titi+t a• ��
<br /> t�ny deiinyuent ntn�unts opPlied in thc�,;ctci provided rn haragraph a..in�then t�s pret»tiiuent uf pr�m.iCwL Aair ,�rri�.,ir„tr��t rl.�
<br /> th:pru�::eds w rFte prin��y�i chaiF rrot sxtcfnd ��r �m�.rPc.ne the due{�ate+�t�F�e �ru�nthiy ��:i;mert�, ti:h:.h,u� r�trr:r:l r�; .r ��`�
<br /> !'are�trapt►2.+,t..hanqc tl�d au���unt��►auct�pif4Ull'Nlti An+.e��r.•pc�:.se:l�.ntcc ,eiz a�uuuu::c��w::�}t����F.ii:uut�t�rJ�r��;�n �-
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