|
__ - .. .. _ y,�
<br /> t,;��a�c._ —�3.'i�t�st"s�;e�Et��''���1$����(AFt`�'�'�� ��2���,�,4 r£�� _ �Kc � �nTi'.��4 i` �` �' �` £��r'r�,..r�;.��i� y�Ff4.f�� a£` _-
<br /> �,_' �(�TP� �'° ��rr�ol➢i�S9��_ _.
<br /> . . ': ./,
<br /> '_�� ..._ �_ _ — . _ _. ... `�
<br /> .
<br /> --__--'—._ _.:__�:_--
<br /> - ---_�-- . 4�_' �.d��.��:� _ _ _� . _`_
<br /> : ' , "E.Psymest o!Priadpii.Iatcnat and I.atc C�tge,B�rrower shall pay when dr�e the pitncipal of.and interest on.the debt
<br /> e.�deaced by the Note a�ed late rdarges due under the Note. � . . .
<br /> . � Z.MoaWy Fiq�menb ot T�.tR��.,.�n�II Oiher C�r��s.gorrower sha1I iaclude in each mcsntNy paymeat,together wich � .
<br /> tt�e principa!and iatec�st as stt fortH in the Note and any.tate charges.aQ iastaUment of any(a�taxes and spesaai assessmeats
<br /> ti0.vied or W be levied agaiast the Propaty,(6)leaseholc�paymeut�or:ground reats on the Propercy,and(c)premiums for
<br /> Iris�aart requatd 6p Patagrapti 4: . ° -
<br /> � .FF�cch saoathIyinsta}Tment�for itans(a),(b)aad{c)shall equal ane-twelfth of the aarmal amounu,as reasonahly estimated by
<br /> �eada.pins an aaLOUat se�ffccitut to maiatatn.en adcliaio�at balaace of aot more than one-sixtb of the estimated amounts.The
<br /> #i�D aanual aiaowzt for esch item sl�all i�e accumulattd by Lender withia a period endiag one month before an item woutd �
<br /> • 6ewme delinqnea�Leudej shaU 6old the s�roumrs coltecte�in trust ta pay iums(a),(b)and(c)6efore ehey beroma deliaqnent. �
<br /> _ • If aE aay time Wa totat oFthe payQtents tu3t�by Leader fas items(aa,1(b),aAd(c).together with the future monthty payments
<br /> . far such iums paq�62e to Leader prior to thc due dates a85uch items,ercceeds 6y mare thaa oae-siath the esttmattd amonnt o€
<br /> .. . :. paqments requirod ta pay snch:iteass w6ea dne,and if payntents on tha�Note are cuzreat;then•Lender sf►afi either refuad the
<br /> as�ss aver oae-siath of the esaimat�pa,�enrs at cre�t the exse�aver one•sixttc,of•the esdmaud yayiuents to su6seqaent '
<br /> . pag�ments by Bnnawer.at the optioa o&i�a:-cower.!f the total of*.2e payments made by Borrctvacr.for item(a),(b),or(c�is
<br /> � ins¢ffcient to pay the iteai whea due,tt:e���rrower shatl pay to L,e��:r any amount necessary to¢ake ug the deficiencq a�.or.
<br /> ; . � T�'art ttte date the itern becomes due .
<br /> � ' , �' !�+.x used ia this Sxurity instrument� "Secretary" meaas the Secretary af Housing and Ucban DeveIogage�or his a:her
<br /> c�gaee.Most Seauity[astrumeals insured hy the Seeretary are iasured under programs whicb req�re advaace pa}+ment af ihe
<br /> , � eniire mortgage insurance premium.if this Security Instrument'ss n--wa9 insured under a.pragram which did ncr.require ad�aa�e
<br /> . payment of thesatire mortgage insutance premi�un,then each moat�y�ayment s6all aLso inctude either.(i)aa iastaRment a�� � '
<br /> annual�sortgage iasurauce premium co be paid by Lender to the Secre[ary.or(iil a znontWy charge instead of a marsg�� -
<br /> " , ipsvrance pretnium If tfus 5�usity instrument is held by�e Secretary.Each monthly instaUraent of the mostgage insur�ce
<br /> pF�ium shall bt in aa amc�t sufRctent to accumrsla*s.x+�e full annual mortgage insurance premium with Lrnder one montb � •
<br /> �r to the date the full annval mottgage insa�rancc Fr.�i��m is due to the Secretary�or if this Security Instrament is iield by the
<br /> Se�ecary. eac�monthly charge shall6e sa a+:�c�.-�:cqaal to one-twelfth of one-half percent�af the uuts[anding pria�sal -
<br /> balance d�s e��e Nate. • � , .
<br /> Jf Bonow�:�iders to Lender the fuU pa��ieni of�"'sums secured by this Security Instrument,Borrower's accouni sha�&e
<br /> ,. crevditeA witie,:�;e balartce remaining for ali install:ce� for items (a), (b) and (c)and any mortgage irsu.-ance prenz:�:� '
<br /> instaUment t�l.ender has not become obGgated to pay 3o the Secretary,and Lender shall promptly refuud a�y excess fw��s;.o
<br />;, • Borrower. Eas�idiatety prior to a foreclosure sate of the Property or its acquisition 6y Lender. Bonower's account sf.z�b; '
<br /> � . credited with`a.,�.batance remaining for aU installmeau for items(�),(ti1 and(c).
<br /> � . -
<br /> 3.AppUpt�oi Psyments.All payments under paragraphs!ac3d 2�ahall be applied by Lender as follocv�: �
<br /> FIRST,to the martgage iasurance premium to be paid by I.ender te the SecrerarlF or co[he monthly cha:���the Secretary
<br /> instead of the month[y mortgage insurance premium,untess Borrower pa�d che ent�re mortgage insurance�r.�ium when this
<br /> Sea�city inmument was signed; � � �
<br /> ECaND,to any taxes,specia}assessments,leasehotd payments or ground rents,and fire,fIdoffi aad os'�er hazard insurance � :_
<br /> premlums.as required; ,
<br /> TH1RD, to interest due uader the Note;
<br /> FOURTH,to amortization of tha principal of the{vcr�; .
<br /> F�� rx' .to late charges dua uude�the Note. � �
<br /> 0.Fire.Fdood aad 016er HuaM lespraece.Borrower shall insur�all lmprovemertts on the Propeny,whether now in existence �� ' f
<br /> or subsegaeatty enctod;against any hazards,casuatties,and contingencies.inclading�re,for which Lendezzequises insarance. • ��:��;
<br /> This insurance shall he maintained in the amounts and for the periuds that Lender requires. Bonower s.*�,?alsa insure a!i �
<br /> impravements on the Property.whether now in existence orsubseqaentiy erected,against loss by floods to tbr ex�.-nt required by
<br /> �
<br /> the Secretary.A119nsurance shall be carried witb compaaws approved by Lender.The insurance policies anc�a-y re,ewals shaU ��
<br /> be held by Lender aad shall inctade lo�s payable clauses in favot of, and in a form acceptable ta, Ixnder.
<br /> In the event of loss.Borrower shall give Lendrr immediate notice by mail.Lender may make proof oP toss if not made prompt- `,f ;
<br /> Iy by Borrower.Each Insurance company concerned is hereby authorized artd directed to make payment for such lass directly to ► '�
<br /> Lender,instead of to Borrower artd to Lender jointly.All or any part of the insurance proceeds may be applie�6y Lender,at iGs � ''`
<br /> opdon,eJther(a)to the reduction of the indebtedness under ihe l�tote and this Security lnstrument, trst to any dellnquent t::''"�
<br /> amounts aDDlied in the order in Paragapb 3.and then so prepayment of principal.or(b)to the restoration or repair of thc � �
<br /> Qamaged prope�y.Any appllcation of the proceeds to the principal s�all aot extend or postDone the due date of the monthly � --
<br /> �,,�iyments cvhich are relerred to in Paragraph 2,or chan�e the amounc of such payments.Any excess lnsurance proceeds over an� `' �`
<br /> �'.bunt required to pay all autstanding lndebtedness under the Note and this Security lnstrument sha11 bc paid to the entiiy legal- � `
<br />: iy entiUed thereto.
<br />: ;:..
<br /> �.��the event of foreclosure oF this Security lnstrument or other transfer of title to the Propeny thAt extinguishes the in-
<br />' ' C.�tedness, all right.title and lncerese of$onower in and to insurance policies in force shaU pass to the purchaser. �.
<br />, S. Pressrv�Uoe�ad M�teteaance ot t15s Propertq, LeasehoJA�. Borrower shaU aot commi� a•�stc or destroy, damage or
<br /> substantially change the Proyerty ot allow the Propury to deteriorate,reasonable wear and.tear excepted. I�ersder.may inspect. .: - ..-
<br /> ...
<br /> � � �� � -� �he property 1f the proyerry-ix��qet or atiandoned or cTir.loan is In defuntt.Lender•ynay take reasonable acv.ar�eo protect attd
<br /> � G:'��'sve such vacant or aband�t�e�property.lf this 5ecucey Instrument is on a lea,:��ccr�,�.;r:oj�er shall cosng[i�with the provi-
<br /> s���.s of the lease.If 8orrower acquires fce ti:le to tl;e P'sopeny,the l�aschotd and fee titt�k�,�t.0 crot be mer�e3�nless t,ender
<br /> � agrers ta the m�ge:in wrltlttg. .
<br /> � �.Ch�rge�to Botrower ana Prot�ction of Lemter's Rlg6ts in tde Property.Bprrower shall pay all govemmer.tal or municipul
<br /> ��aa�fines artd imposltIons that are not included in Paragraph 2.8ortower shall pay these obligations on titii�.e directJy to the
<br /> e::��:y whIch is owed the payment.lt fai�ure to pay would adversely affect Lender's interest in thc Property,espon t,ender's re- '
<br /> qutst Borrower shall promptly Purnlsh to Lender receipts evidencing these payments.
<br /> � It Borrower fa�ls to make these payments or the payments requircd fry Paragraph 2,or Ialls to perPorm any other covenants and '
<br /> agreemrnts contained in this 5ecurlty Iristrument.or there is b tegat proceeding that may signifiwnily affect Lender's rights in ;
<br /> the Propeny(such as a proceeding in bankruptcy.tor condcmna��on or►o enforce taws or regulations).then l.ender may do and
<br /> pay whatever is nectssary to protect the value of the Property and(,ender's rlghts in the Property,including payment ot taares, �
<br /> hazard insurance and nther items mentioned in Paragraph 2. � , ,
<br /> - MY 8maunts dlsbursed by teneter nneter th4s Paragre=th shslb baomr an addit':ona�ciebi a�[iurrawe�a�tei br sceure�f by this f
<br /> Secur'ity Insttumenl. These amdunte s6a11 bear interest from the date of disbursement.at the Note rate.and a� ihe aptiun�f
<br /> . Lsndu.shal!be immediateiy due and �ayable. �
<br /> L7.Coademe�doa.7he proceeds of any award or cLvm ft�r damagea,direct nr consequentia).in connrction wlth any cUndem- • �
<br /> n8tion�r oahet tateing of any p�t!of the i'roprny,or for conveyance in place of cundemna�ion,are hcrcby assigneci and shall br
<br /> paid to I.ender eo the catent of the fult bmdune uf theindebtedness�h�t remains unpaid under tpr Ne�1e and this Sctiurity Instru- t�
<br /> mrnt.LertAet shall apply such praeeeds to th�redurti�m of the indebt�daess under ihe Note an�i this Secari�y lmtrumcnt.first a. `tho'
<br /> any delinyuent amaunt5 epptied i»thr urder provided in paregraph 3,ertd then tc,prepayment n!rr�ncip�l.Any r�prlfiraUvn��f �
<br /> the prr�eteds tu fhc prinripal sha1D nvi e�teft�l err potfpone fhe due d�te of tha manthly paymentc, whith arc reCcrred r��s�� '
<br /> P�n�raph 2,at change thr amr�h��f sucTi p�yn�ents.�ny eue�s qraEeetts t.ver an nr��ar�rfrt ree imrd tc. ` _'
<br /> i t��y�II'aot�r.�ndiri►�m F.
<br /> dtbtednets under thr Nole�r�d itNs 5erutity Inctrurnent�ht�H t��paid tu thc entitv IeK:►ily rnnilcd�hcrctn.
<br /> A. �'tts. 1 ender mdy 4<�Ilec� fecr ar���hnrges aolhnrvec�by the 5e��rrutv
<br />, PuR�t,q� -- - - - ....__._ - —-- - - •-- �
<br /> � _
<br /> �i�E.t i � .�.... _.. Cr, _ . .� -. _.. _ �. . ,:; '� tn __ . .. �.. .
<br /> ,,:
<br /> —.—;. � .• �.. t ....-- :...: y:r f. 1-y.1 1 ��a:,� .
<br /> � i
<br /> .y
<br /> _ . �
<br /> • ��r
<br /> t`� � �tiR 1 � j/ ' . . . -i .' ,� �.. hs
<br /> ..:. � ..
<br /> y .._ Fr._t. r��. 1 _,_ - —, ' i .- _ . 5'� _
<br /> ,._. - � ��:i.ftr�ii�}�„ -__ .;- - . ..— . ._ _ ,__ —__ _. _ T ._ _ - ,_ _ _ _ - .
<br /> - _ , ... � . � 1 .-- : -..��-
<br /> -. . . !•f ... ....R �. .-....._ _" �.: ':'- : ._ — ."-; -.._ -.t''#t�,�.. . . . � ' - ' ��. . . . . ._. ,�3iz�',�. '.. .. ... .. .. ' - . ° ,tyz4�"�'[�.�.
<br /> _ _ _ _ _.: ._ _ _ _ .. _ _ _
<br /> ':� --� - --P
<br /> . , � �
<br />
|