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<br /> ��.--�-.�._ � . .. � . : � -- -- - -- °---' -, ��
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<br /> �. 90--10i609
<br /> ' . • Each monthty instaitrnent tor item�(a).(D}.and(�)ahaU equa�ortetwenth ot the an�uat athounts.as�reasonabiy estimated
<br /> by len�er. pius an ur�ount sut8ctent t�maintatn an ad�tiana!ba�ce of not more than one�sixth of the estimated amounts. _
<br /> - The fu�artrtual ameunf tnr etch item ahs�be aaeumWated byt lender withtn a periad ertding one�nonth before an item woutd
<br /> Oecame de�inyuertt Lendv shaD hotd the emounts coVected(n trust to pay tiems(aa,(b),and(c)6etore they become deGnquenL .
<br /> r �t�:at any time the tqtal of the payrrse�ts held by L.ende�r tor 8ems(a),(b),and(e),together w�th the t�Usce morthy payments
<br /> �fr�such items pay�bte to LenEer pdcr to ihe due dates ot sucb items,exceeds by mo[s than one-si�M tAe estimated amount •
<br /> cs'pfyrt�enis required to pay suet�ftems wtren due,and H paym�nts on the Note are eurrertt,tAen Lender shaU either refund
<br /> the`ex�s:by�ane�sixth of the estirnafed payments ar ae�it the exeess wer onesudh of the estirtutec!paym�rts t�subsequertt '
<br /> RaymanL�ta�r�,8ostowef at the option at Hartower. R the totei ot the payments made by Sorrower tor�em(a).(b),or(c� � �
<br /> , is insu4i�;t�-yay,tl�ftem when due,tfien Ba�rarrec shafl pay to Lend�any amaurtt necess�y ta make up the deficiency
<br /> an or��ote'tP�t d�t�tt'e�em becomes due. .
<br /> Ag�seif ue:3his Searity t�sirumeni.'Secretary' means tfie Seaelary oi Housing artd Urban Qe�telopmes�t.ar his or hev
<br /> desfi�?e;.:.Ntos[Securtty(nstruments fnsured by the Secieffiry ere Insured undet prugrams whtch requtre advance payment of
<br /> � . . the enf`re tneRgage insurance prem6rrm., tf�thls�rity fns4�trm�tt(s or was Insured und�a pmgram whict�did rtot requtre
<br /> • , edvance payment of the�tire mortgage insuranca premfum,lhen each monthty payment shaU elso inctude either: (7 en inataltment
<br /> af ti�e ennuat mortgage insurance prcnium to be pafd by,lender to the Seuetary,or u a maruhiy charge instead ot a martgage
<br /> irsurence p�emium H ihis Security fnsbument(s hetd b�,the Secretary. Each monthty instaAment ot the mcRgage lnsurance
<br /> �cemfum s6ae be in en amount suftident to aceumut�te the fuQ annual mortgaga tnsurartce premium witb Lender one monib .
<br /> • �iar ta the date the fuY annuai mortgage Insurance prem�m Is due to the Secretary,or fi thts Seairiry tc�strument ia held
<br /> , 6y fhs Se�4ry.each monthly cflarge shaU be in en emauni equsf W ane tweHtb of one�hnlf percent of the outstartd'irtg prinapal
<br /> h2'ance doe on the Ncte.
<br /> � ff Borrower tenders 4o L�Oer the t`��paymdnt ot atl sums secured by this Se�r,3tu.{nsVument.Borrower's account sAaO �
<br /> be cred�ed with tfie�atence rPtna:ci�:g tac aU tnstalhnents tor items f�. (b).and(a)and any rriortgage insurance premium
<br /> , instalfinert�fi�t Lender has rtot beCOm�abligat¢d to pay to the 3eaetary,and t,ender shatt gra,a;�ty refund any excess tu�ds `
<br /> to Barr�w� �mmed�atety prior to a fo'rectosure sate of tfie�P�ropers��.ar its acquisition by Lenct�Harrower's acsount shail •
<br /> be crec����vilb any batance r�nah►hsq for all instaffinents_tor items(a). (b).and(c). - . .� '. �,
<br /> :�
<br /> 3. •AppliCattOn Ot PBymetltS.All payments under paragraphs 1 and 2 shall be appGed by Ler:der as iollaws
<br /> F,��,YB�he mortgage insurartce premium to be paid by Len�to ihe Secretary er to the monthty charge by the S�cretary
<br /> • InsteaC oi T'te�monthty tnoRgage irtsurance premium,untess Borrov�es paid the enNre modgage insurance pcemium when tf�is
<br /> Searrity tn�an(ent was si�ned; ' -
<br /> SecanA,to any.ta�s,spectal asse�smertits,leasehotd payments or�rc�an� •r.er�ts,and fire,Rood and cther hazard insuranae . �
<br />: �rpmiums, as requtred; . �
<br /> � Thi�d,to fiterest due under the Note; . , ..r
<br /> Fo�.�th,;ta amoRizatton of the princip&1 of tha Note: �
<br /> iP ,to�ate charges due under tha Note. �-'
<br /> 4. Pire, Fioed aad Other Hazard Irsoa�ance. BoROwer shall insure all improvements on X!'.e ?ropQRy, whether � � -
<br /> now in ex(st�ce or suDsequently erected, egalnst en�S�azards,casualUes,and contigenctes,incfuding fire,tor whfch Lender requJres •
<br /> lnsurance. 'Ths insurance shatl be malntaineA tn the amounts an3 t�r the periods ihat l.ender requires. 8arrower shall�!so -
<br /> , Irrsure alf i^n�racracnents on the PropeRy. whether now in exister.cs ar subsequentty erected,agalnst loss by floods to the extent -
<br /> reqirired by Yf►a Se�xetary. AII Insurance shall be carried witA companles approved by Lender. The insurance ppltcies and any � �
<br /> rer,zwas sf:a1 be hetd ds��der and shall inGude lv:.��ayable ciauses in tarvr.x�and tn a form accepta6le to,Lender. •� �
<br /> In the ever.� o!loss;8arrower sha11 give lendc�imme�ate notice��mait. LertQer may make proof oi loss i5.,iat made � �
<br /> prom9tfy by�onower. Each lnsurance company concemed is haa�y aathorized and directed to make paymeat tor sach loss '
<br /> � dPree�tfy to B.�Qer. instead of to Boaower and to Lenaer joinlgr. r1,'7 ar any paR ot the tnsurance proceeds may.be applied
<br /> by LenQer,at its opfion,efther(a)to the reductton of the indebtedness under thA Note and this Secu�iry Iciswment,firsi t� �
<br /> eny deNnquent amounfs appBed in tBe order ln Para�b 3.and then to prepayment ot prtrtcipal, or(b)tcs the�estoration , j {`:
<br /> , or reptir at!he damaged property. Any eppllcation ot the proceeds to the principal shall not�ctend or pos�oiie the due date � F R::
<br /> , oi the monL�rF�payments whicfi are refe�red to 1n Paragreph 2,or change the amount of such payments. My excess i���raace � � � �,
<br /> proceeds avez an amount requlred to pay'all outstanding indebtedness under the Note and thls Security lnstrument sha:1 be
<br /> " paid to the e-�,�j teyat({y er.:.%tled theretd. • � : ' '"��`'
<br /> ' �.,�� .
<br /> , tn the eveni ot tareelc��re af this Security (nsWment or other da�s'er of;ii:e ta the Property that exNngulshes the • . �
<br /> Indebtedness,a7 rlght;fitfe end interest of 8orrower In and to insu.G�ce policles in torce shall pass to the purchaser. �
<br /> 5. Prr�s�rvation and MaiManance ot tho Pr�arty, Leaseholds. Bonawer shall not Commit wa�:�or destroy, �
<br /> damt�ge or su5stantially change the Praperty or alfow the Property to aoteriorate, reasonabte wear and tear excepted. LenQer may inspect
<br /> the propeity if the properrg ts vaeant or abandoned o:nhe loan Is in defau�t: lender may take reasonable sc:�sR to protect -
<br /> and preserve suc4� tracar.�ar abandoned property. It th:s Seeurity �.�rument 1s on r.leasehotd, Borrower shoil campty w..h
<br /> . .,. _. . . _ ........ ----. .. . .
<br /> �- - --�the provision��zE the Se�;s?. ti Borrower�BCqui�es fea titte to 1he�Proaeity,ifie leasehold�and�fee titte�shall nat pe'merged u�.`�..r
<br /> lender egrpes:�the mesyer in writir.g. '
<br /> 6. Charge�tr3�Borrower and Protectton of Lender's Rt��ts in the Property. 6a:rcwer sha'? pa�E alf
<br /> govemmental or rtwnia;.a,o?�rarges.Mes and lmpositrans that are not inoluded in Paragraph 2. Borrower sr�v pay these abfiga••rorrs
<br /> on time direetty to the enbry whlcb is owed the paymem, I1 tailure to pay woutd adversely aftect lender's interest in the�roperty,
<br /> upon lende�'s tequest Borrower ahell pramptly fumish to 1.ender receipts evidendn�these payments. •
<br /> • ff Bortower t�ils to maka these payments or ihe payments required by Paragraph 2; or faits to peAorm any o:her aovena^:s • - --
<br /> and agreemenis cont�irted In thls Security Inshument, or there is a tegal proceeding that may sign'fiicantly a"•�t LenQer's, right5
<br /> in the Property(such As a proceeding in bankruptcy,tor condemnaUon or to entorce laws or regutations),fhen Lender-^��
<br /> do an0 pay whetever is necessary to protect the value ot tha Ptoperty and Lender's rights in the Property, tncluding pa,:,�^2 �
<br /> ot taxes,hazud tnsuance and other items ment{oned in Paragraph 2. � �
<br /> . . Psty r.maus:l�Ci�2ttsr�,.cd D;t Lcc:dcr und..^r tt�is Psrsc�r�p€s slsalt beccsma a�ad�la�a�deht af B�rrower er�c�Ge-�c�;ur�,Ki � -
<br /> by th}s Seeurity tnsUument. These amounts shall bear interest from the date of disbursement,at tho Note rdte.and at ihe ' �
<br /> � , oylian ot L�nder, shall bo imme�atety due and payabte.
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