|
. _._. __. ._ . . . _ _ _.. .. ` . . . •�_. � . , i _ —. __ '`!' _ .:.i;:�r"
<br /> . .. . —'—__'"_—__�— "___ "—_ _ _----_�`. � "' ...— _--_ - `'__ _ �_— __ .
<br /> y.__._..""� '__ .a .___ _"" _' . ; . _.—� � . . `,�.
<br /> . . .� � .' • . \.
<br /> �. � . 94�-';10i5$0 �
<br /> � - 'l.lq�eat ot*ti��t.Lteesi uA L�te Ciu�Borroveer shaU pay when dur the principat af.aad intaess on,the debt
<br /> eviaenped by tlie Nott aad tate citargea due undet tt�e I�toi�
<br /> � 2.Mo�trb hT�is ot Tus�.[wara�a�ad Oi�erCh�t�a.Bcao�zs s6�ll mclude in eash monthlp paymea�,coSether with � �
<br /> r the principal aad intaest as set forth in the Nase and any.lato chuges.an uutallmmi oi any(a)taag aud s�iat assasments
<br /> 1 IevIed pr ta be levicd asaiast the Froperty, (bl true�old wm�*�u or�ovna reau on cue prope►tiy.aad(c)PremIums for
<br /> insuraaa ral��Y p��Ph 4. ' • ,
<br /> • �h mamhlY�r.at far itcros ts}.(t�)aael{e)shal9eqval one-tweltih of t6e annwd amounu.as rmsonablY�stimated 6y
<br /> . " Leader.OI1L!i�1 in1011M SUffipCM t0 IDilIIti]D it1 IId��OD1fI�ACC Of QOL mOfG tb8I1 OAt-sixth of tDe estimated amounts.Ttie
<br /> ' fu11 annu�!amouat far eac6 item shaU tx aaumWtted by J.eisdu within a�riod ending one month befoze sn itan woWd ' ,
<br /> . 6xome delinq�ent�T.eader shail hoJd the amounts oollected in trust to pay items ta).(6)and(c)before theqbecome detaiquent. ,
<br /> ' If at any time tHs tot�1 cf the paymeats hetd by Leader far iteras(a).(b),and(c),togetha with the future monWy payments
<br /> far such uem�payabk to;.ender priar to tho duc dues of snch ii�s,accads by more t6an onasixth tiie rstiraated amonnt of
<br /> psymmta required to pRy sucb items whm dve.an�'if paynments on the A1ote are c+ureM,then La►da shari eithar refund the �
<br /> � eacas ova oae-siztb of cha�stimau8 paYmrms ar c�ed3t=he a�oess over onasixth of the�s�mate�payateau to sabsoquent .
<br /> paymeata by Barrawer.at the opuan of SormR�u:.lt the to3ai of tht paymeats made by Sarrower for item�a),(b),or ic)is , .
<br /> insafficicnt to pay the itcm whm due.ttun Bartovru s�hall PaY��d��Y��►t nooessarY to�nake up the deficiency on or . , �
<br /> before tt�s due tha item i�ecosnes duc.
<br /> As�ued Pm tMs SavnitY InstNment. "SecretaTy"�u�eans the Sesmary of Housing aacE Urban Oevvapment or his or hu ;�-�•,:;,.'
<br /> � desi�ee.Most Secndty Instrumeats insureA by t�s StcietarY are insured under programs wdich require advance PaYment of the .. . . '
<br /> • eatire mortg�.insuraaoe prcmivas.If this Secwity iustr�ramt is or was insured under a pmgram which did not reqnin advance . .�. ,.';;:,°-
<br /> - - i�a►YmeatofttsrentisemortAageiasuruiceyremiwn,theaeachmonthlypaymartshs�ilalsoiad�either:(�an-instaltmeatafthe. � ,;:;: - � ,';:<;:�:''�� _
<br /> annua!mort,�insurance prmiium ta be paid Ky I�der to itte Sa;zetaiy.or(ii)-a-monti�ly cbargt instead of a mortgage .." : -
<br /> . �..:.;�;:. ;
<br /> inau�cx pa�if this Security Insaumsnt u lield by the Savetary- Each manthiY ins�tmmt of the mortgaae iasvr�ce -��::.. . .
<br /> �...� . .
<br /> : � �rremium sha�be in an amaunt sufficieat to acc�mulnte tht fuU armual mortgage�n�.�*+ce premium with 1.eada one tttonth . . ,
<br /> prior to tht dut tite fuU anaual mortgage iastus�e ptEmium is dne to the Secrttary.or if this Security Instrtuaent is 6eld by the
<br /> , Seaetary.each moaWly charge shaU be in an amo�nt equal to ona-tweUth of one-half per�ent of tiie outstanding principal '
<br /> balaace due on tbe Nate. .. : .
<br /> If Bomower tenders to l.euder the P:�gaym;ai of aU'swns secured by this SecuritY Insunm�em.Bor�awer's acxaunt shaII iie ..
<br /> credited with the balaace remaining f�r all inssallmmts for items (a). (b) and(c)aad aay mortgage insurance premivae . .
<br /> � instalimeat that Lender has agt bocame obligated to pay to th�Sxretary,and Lender shail promptly refund any exoess funds to , .
<br /> � Borrower. Immediately pr�or to a forcctos�re salt of the Property or Its acquisitlan by Lender,Borcowrr's aocount shaD be �
<br /> � crodited with anY balaace reaaaining for ali instaltmeau for iteras(a);(b)and(c)• � , ,
<br /> • 3.A�/Yeadiw otlsl�ts.All�mmts us►�tr paragraP�`t��2 shaU be apDlied by Le�der as follows: � -. .,'' . ,. .:: ��; :`
<br /> � �j$�,to t�5e mortgage i�surance Frrrninm to be paiti b9��to the Secretary or to Wt monthly charge by the Secretary ',,'�'` • ,.�
<br /> `.:•�--�:.;:,. ,�. •
<br />- • ir�sse�d of tbe wontWy nm�.Y.�Be insurance pt�enium,unless Bosiawer paid the entire mortgage insuranae.�r�ttnium when this . � ` .
<br /> ' �vrtty Instrameat was s�.�cit � � ,., -�;;�:;,.
<br /> �,w any taxes�special assessments.lraseh�ld paymenis or ground renu.and fire,ftoad and ot*��ha7ard insurance �_ . •:;
<br /> premiums.as reguired: r... ..
<br /> T,,,�il$Q,to intcrest due under the Note: . .
<br /> O R to amortiTation of the pciaci�l o!t?�s No2e: , �
<br />' �F�,to ttte charBes due under the I�Inte. _ ____
<br /> � �.Fiee,�7ood aN Ot�er 9a�r�d Iwnica B�ro�si�a11 insvre aU improvements on the PropertY.whetfi:r now in existence -
<br /> or subsoquently erected,against any huuds.cuvstt€ts,:ar�d coniingenries.including flre.for which Lender requ'ues ias�uance. , � -
<br /> � 't'his insurpnoe shaU be malnt�in�d is t�e 2�*�bl�.atsd fot tht pereods that Lender tequir�. Borroaer shall also instue all ,
<br /> : imDrovemeats an the Property,wheti�xt cow in e�[[tsttioe ar suhstquentty erected.againsf tass lsy flvods to th�exunt reguired by .. '� �
<br /> 'td�e Secreta*9.AU insurance sball be ca�.�ried wisb co��es aPAioved by Lendtr.Tht iasurance Daticies aac��.�y renewals shaU
<br /> 6e 6eld by Lender and s►�a[i�;tclude loss payab?�ct�u�cs in t�vor ot,anfl ia a fore�aaeptable to�Lender.. ' , " '
<br /> 1n the evc�nt of los�,Borrower shal��fise Lender uamediue na�i�e by mail.Lend���y s�r�ke bceof of loss if not made Fra�f- , . �
<br /> ' Iy by Borrower.Eacb insurance co��a¢y��ncerned is herebyaulhosized and directed to�:.�ayment for such toss dira�tln�ca � �
<br /> Lrnder,iastead o!to Borrower and t;�i,.�er jointly.All or any�ut o!the insura�ce Drocec�s may be aDplied by l.ender.at its � .
<br /> � option,eithsr(a)to the reduction Q�C7e indebtedness under tht Note and tt�.is Security lnstrument.ilrst to any delinquent
<br /> ' amounta�ppod in the ordcr in PacagraDh 3�and then to prep�ym�A1 O!D�-iD�:t.vr(b)to the restoration or repair af the •
<br /> dam�ed Droperty.MY�iication of the proceeds to the'pdnclp�!sh:il noi exr�r�3 cr�osi�onc the due date of the monthly • �
<br /> ' psym�ta which are referrrd to in FASaaraplf 2.-ar chya�ge the aitsouns o!suc�paymcat;.�n�r excess insurance Droceeds over an
<br /> amount requlrcd to pay att ouutandiag iudebtednoss under the Nott and this Security f c�t:..�z shall be paid to the entity[egal- � ;����
<br /> � ly rntitled�&�eto. °
<br /> ' ln the evem of forec.�ssrs ot this Savrity lnstrummt or other transttr af ut:e to the Propeny tfiat extinguishes the in- � ;
<br /> debtedaas,ai1 riEht.�e R.n.d interest of Borrower ia and to tnsurana pollcies i�x fcsce shaf!pass ta the purchaser. . �
<br /> i . .
<br /> 3, praeerNioi�M MWteuaae W t�e Propaty, LaueliolLr. Borrower shail act cammlt waste or destroy, damage or �
<br /> ,. substantia�t�c."�wYe the Properly or ull.a�!the Property to deteriorat0.reasonabi�wear an�tr�s excepted.Lender m�y inspect "
<br /> the pro�ty.i�iLe property ia va¢ant ar abandomd or the losn is in defauit.Lercder stta�:taRe reasonable action to protect and ,
<br /> ' - ..--.-...- -.��:eaa�ve such vacanl�or abaa�oned property..i•f.this 5ecudty Instrumenti�.o.n a.I�aM,.I�omower shail comply with the provl- _
<br /> s.ons of the leau.If Ban�awac acquires fee title ta tho Aroperty.the leasehotd aad fee titic sha11 not be merged u�ess Lender � �
<br /> � .a�reee to the merEer ln vcrEting.
<br /> i.C�s to�orraw�rr ud PtotccdoN ot Leedt''s Ri�t�t�t�e Pro�.Bonower shall pay all govcmmental or munEcipal_ • �
<br /> ch�rtp,tinea aad impo�itieias that are not include4 in Paragraph 2.Borrower shall Day thesr obligations on time direc0y to the
<br /> endry whic6 is owed thr D���•1t Pailure to pAy woutd adversely affect Lender's interest in the ProDerty,upon Lender's re-
<br /> quese Ho�rmrer sh�U promptly fumish to Lender receipts evldeacing these paymmts.
<br /> U Borrower fWs to mate thex paymrnts or the payrtnent3 required by Paragraph 2,or tails to perform any oiher covenants and
<br /> aareetnenRS matalned in thls Secu�ity Instruraent.or there u a Ieaal procerding that may signi6candy affect Lender's rig6ts in -- _
<br /> t6e Ptoperty(such as a procetdins in bankruytcy,for condemnatioe or eo enforce iawa or regulations?.then Lender may do ar►d ,
<br /> � pay M}utever i�ntcessaty to pt+ytect the value of the Property and Lender's rights in the Properiy.inctuding payment di taaes.
<br /> h�nrd insurance and other items mentioaed in Paragraph 2. ' �
<br /> ,
<br /> ' • Any amounts dis6ursed by lender undet Ihls Paragrapb sha116ecome an edditional debt of Banower and be secured by this � ,
<br /> Sccurity Insuumene.These amaunts shali beu interest trom the date of disbursement�at the Notc rate,and at ihe op�ion of ;
<br /> . . �.eader.ahaf�i�t icameddztciy 3ae an3�iya6te. . � . . . =�
<br /> 7.Co�ie�aUor.'Che proeads of any r�wud or ctaim!or dam�ts.direct or consequentlal.in conmction with any condem- � '
<br /> L nation or otAer ttlina af any put nt the Property.or tor canv�yance in place of condemnation,are herrby assigned ond shal)be �
<br /> p�i0 ta LenQer to tRe exteat oi the full amount of the iadebtedness that remains unpald undet the Nate and this 5ecurity tnstru- h
<br /> ment.Lender shallapply such ptaceeds to tAe reduc�ion of the indebttdness urtder the Note and this 5ecurity instrumcnt.first tu
<br /> any dcliaqumt amonats appl�td in the ortler Drovlded it1 Petagtaph 9,and then to prepayment of principal.Any applieati�n oi
<br /> . the ptoceed�tn the principat�hall nnt ex[end ur poatpaae�he dat datc�t the mantflly payments. which are referred to in , ��
<br /> Paraartph 1,ur chazr�e thr amount of such paymrnts.Any eacess proceeds vver an amaunt reyuired ta pay alt nutstanding in- � `�
<br /> dc�ctdr.ea�undrr�ite tr'c�;r nifd�h��securii Instrument shall he d tu the cntity[ F' '
<br /> y pai egally entitled therto. .
<br /> i.�'eea. t.endtt may cultect(ees gnd chatga authurired by!he Secrecary. • �
<br /> . � � i'aqr 3 n(t �
<br /> �.
<br />-S
<br />�
<br />!
<br /> .."'.w� �` — .�,�i�._ — .
<br /> �'�'._�a_ . ..� _.. _ —_ -- _ —
<br />
|