|
,- ;i S � I'Sr:'r ' :� _ o .':ov � '1 �l�,.�:�. c . �Yi�lf�s s �.skR��� �,e�a�Fl
<br /> �r.•�f��r�tT�'o'�Y:T"' _ ';';:�-•x n�::r-_ .:. .o-a.e.�. s� "' .c,,. , ..., �`�. ,y
<br /> ��YAGrihLa�����w _— y.�
<br /> 10 FtiYi�= �L'-=�-
<br /> —__�_�_ �`. . . . �_��Pr+as.r��ryk. .—. --.n�va`z�...v�._.. __ �_ _—_ _ _.___
<br />= _ '.— ._—._ — ' .. ' ` . . . :.1.� _ ;t- r •��-�:.�;.:�-�s-'a�� ' . �- — . , �
<br /> t . .�.{'.'..::.�_�.
<br /> . . r . r `7\`..� . ��it�� �
<br /> _ ��':�'_ � � ; . . i` � . • i . . ` ' _'_' _ �
<br /> " ` - ,'9Q'' � �01'�06
<br /> - l.P�yseat o!Yrt�el�i,istrtesi�ud Lde Cvr�Borrower shall pay when due�thc principal of.and interat on.the debt
<br /> evidcnced by tht Note and tata cAargcs dde un�tr the Note.
<br /> 2.Mo�tY���nt+oi Tua.is�taece snd Ot�er C6�es.Bonower shall inctude in each monthly payment.together with
<br /> � the priuciDal and'mtenst as set forth ra the Nute and any late d�uga.an iastallmwt of any(a)taxa and special assessments
<br /> tevied or to be icvied agwist tt►a PraCerty. (b)leatehold payments or�ound reats�oa the Praperty. and(c)premiwas for
<br /> ins�uanse reqnired bY ParagtaPh 4. .
<br /> Fach monibJy installment for utms(a).(b)add(c)shal�equal one-twelfth of thr annual amounts,as reasonably atimated hy
<br /> Leuder,plus an amauac sufficicnt to maintain an addi6onai batanc�of not more than onasiath of tkc estimated amouncs.'Ff�e
<br /> fiiti annual amoant fos each item sh�l!be accumWued by Ltndu Rithin a poriod ending ono month Qefare aa item woutd
<br /> bxome delinquent.Lendu shalt kold tht amounu coltecce�!in trast to pay items(a).(b)and(c)befon thc`y becomc ddingueat.
<br /> If at any time the tatal of tize Daym,eau hdd Dy Lender for items(a).(b).and(c).together with the future monthly payments
<br /> for sach items paqa6k to Ixader primr to the dut dates of suc6 items,exceed;by more than oas-sixch che estimated amount of
<br /> paymeats required to pay suchiums,vrdiea dur,and if payments oa the Note are cumn�thm Lenda shall either refund the
<br /> eacas ova onasixth af the est+matsd payments or credit the excss ovu�one•sixtb of the estimated payments to subseqnent
<br /> psyments by Boaowtr,at tke opti4�of Bortovrer.If the total of the paymeats made by Barrower for item(a).(b),or(c)is
<br /> insufftdwt to pay ths ium whCn due,thta Borrowu shall pay ro Lendec any azaouat necsssary to make up the defiaency on or
<br /> befare the date the item bocataes dsu. � '
<br /> A�used in this Savrity I�strument, "Sectetary"mans the Secretary of Housing aad Urbau Ueveiopment or his or her
<br /> designte.Most Sccarity Iassruments insurcd by the Secretary are in.s�ued under pragrams which require advarcce paymeat of the � �
<br /> eatire mortgage insvrance prtmium�If t2ps Sxurity Instmm�ent is or was iasured unda a progratn wtrich did not require advance
<br /> payrmeni of tht attire aaortgage insurance prtmivm,then each monthly payment shaD atso inctude ather:'(7 aa iastallmtnt of the �
<br /> anauai mortgage insusancx prcmiuua to be paid by Lender co the Sccr�ary.or(6�a moathIy charge instrad of a tuartgagc • .
<br /> • ituvrance pranium if t6is Soctuity.[astrumeni is issld by the 5ecrdary.Each atonthly installment of t�c.,�stortgage uisurance .
<br /> premium sha1l be in aa aiaount suffccient to arc�:...�--•_late the full annual mortgagr insurance premi�nna r�i1�'i�.ende�one month � .
<br /> ptlor to the date the fulI aunual mortgage ins�--�x;�:emivm is due to the Secretary,or if this Securits�II�.��ent is heid by We
<br /> Secretary,each montbly charge shait be in an�:;�ns`equaY t�one-tweifth of one-half percent of�.�atstandiag prinaQat
<br /> balance due on the Note. � . - �
<br /> /f Bonower tenders ta Learder the fuII payment of ail sums secured by this Security-Inscrument,Borrawds account shall be
<br />: cteditod with the balance rtmainiag for all instaWnents for items (a); (b) and(c) aad.aay mortgage insurance premium
<br /> instaWaent that Lendes 6as aot 6ecome obligated to pay to the Secretary,and Lender shall pramptly refund any eacess funds to
<br /> Bosrowu. Immediately_priar to a foreclosure sale of the Property or its arquisition by Lender, Borrawer's account shall be
<br /> , cre�ted witA any batanoe retnainiag for all installments for it�ns(a),(b)and(c).
<br /> 3.Ap�ifcadu�ot Pa�ests.A?��ssents under paragra�r`s�and 2 shaU be applied bk Leuder as t'ollows: '
<br /> , I S ,to the mortgage insura=x�:emium to t�i�aid by C�der to the Secretary or to:he month;s�arge by the Secretary � �
<br /> instead of the monthItr'�rtgage insuranCe prar,�:�,untess Bonower paid t[:.entire martgage instr^az�premium when this
<br /> : Secnrity Insunment+K-�s s�sed; � .�
<br /> SECOND,to any tazes,special assessraenu.leasehold paymenis or grou��r�ts.and fire,flood and other hazard insuraace
<br /> premi�,mg as required; • � ,._
<br /> �HIRD,to interest due undcr the Note;
<br /> FOURTH,to amortiz�tion of ihe principal of the Note; �
<br /> �,to late chargea due ander the Note. � _
<br /> 1.Fine.�lood ad Otlor H�ssni H�nNCe.Borrower shall insure all improvements on t�e Property,whether now in existeace T
<br /> or subsequrntly erected.agaIast as.�fiazards.casualtla.and contingencies,including fire,�'as which Ltnder requires insurance. �;;
<br /> This uuvrance shefl be maintaia��the azaounu and for the periods that Lendcr re�--..ues. Bo�ower shall alsa ia.stue all � �
<br /> ' unptovements an the Ptepeny,whether naw in existence or subsequentJy erected,against toss by ftoods E�the eatent rcquirod by ` '�
<br /> the Secretary.All In�;.r�,zas shail be carried Kitr�mpanies apptoved by l.ender.The insurance D'oli���.hd any renewaLs shaU ?
<br /> be held by Larder�d�ail inciude loss pay�at•T:W;auses in favor of.and in a Form acceptable to, l.eu��r. .i
<br /> In the evt�t a f la�,Borrawer shatt p.ve Lender immediate natice by mail.Lepder may make proof of toss if not made prompt-
<br /> ly by Sorr�wer.�ach insurance con:;.any concemed is hereby authorizod and directed to make payment for such loss directly to F �
<br /> l.ender.instead of to Borrower aad to Lender joindy.All or any part of the insurana proaeds may 6e applled by Leader.at its ;
<br /> option.either(a)to tha�reduction of the�ndebtedness under thv Nota and this Secority Instrument, tirst to any delinqueat ! � ,
<br /> , amounts applled in•tlr.e order in Paragraph 3,and then to prepaymcnt of pr�nciDal,or(b)to ehe restoratfon or repalr of the ;:,,
<br /> damaga!property.��r�plicatc�of the proceeds to the principal shaU noi extend or postDone the due date of the monthly •
<br /> payments which are refc�red ta irt�„graph 2,or change the asaount of such payments.�?e�y eacus insurance proce�s over an ':.�
<br /> amount required to pay Ell ouu:a����indebtedness under the ti�te and this Secudty Ir.s�ar.�:ni shall be paid to the ensity lega!- :�,
<br /> . ly entitlod thereto. � �
<br /> In the evrnt of ftiresf�s�:re of this Security t�:::rument or other transfer ot title to t3se Propert��r}r3i rxtinguishes the in-
<br /> debtedaess,all right,utto and interest of Barro�c•er in and to insurance policies in force s4a�pass t�e:'�e purchaser.
<br /> S.Praen�Uo��ed Mal�te��cc c�E�e P►operly, Lease�olda. $orrower shall not �r.;�iY waste or destroy. d�.�nage or
<br /> substantiaUy thange tho�Propertg cc�l.t��w�he Property to deteriorate,reasonable wta.•^�.:tear eace0ted.Lender�ay inspect
<br /> the property if the preperty is vac�¢�r abanda.^.ed or the loan is in defaolt.Lender ma�;afce reasonatte action to protect and
<br /> • yresserve sach vacaat or abandoned property.If t�ig Security lnstrument is on a Ieazehold.Bbrrower s'na�:.-+�.�a��Jy witb the Drovi-
<br /> � � �� - - --� siors of�the tease.lf IIurrower acquires fee title to thrProperty;the teasehold.and fee u�:s shall n�2 i��r:rged uNess Lendec�� - � � --� -----�-------�--��
<br /> agrees to the merger in writing.
<br /> 6.t�to Boerowei ud PtotecUoe o!Leider's Waiv is the Property.Bonower shali�ay all govemmental or municipal
<br /> chuges.Pines and imDositioas that are not included in ParagraDt�2. Borrower shall pay these obligaaait$on time directiy to the
<br /> endty which is owed thb payment.lt lailure to pay wouW adverseiy aitect Leader's interest in the t'ra�tr.rty,upoa Leadct's re-
<br /> quest Boaower shgll yromptiy furnish to Lender receipts evidencing these payments. �
<br /> If Borrower fails to mnka these payments or the payments required hy Paragrapb 2;or fui[s to perform any other covenants and
<br /> agrament�oontained in this Seeurity Instrumem,or there is a tegal proceeding that may�i�aificantty sifect Lender's tights in :- -
<br /> tht Prapeny(sacb�a procesding in bankruDicy,for coademaation or to enforce laws ot regulaiions),then Lender may do and •
<br />: pay whatever is nocessaty to protect the value of the Property and Lender's rights in the Properry.including payment ot tenes,
<br /> hatard insurana and ather items mentioned in Paragraph 2.
<br /> My amountsdisbtused by leeder under this Paragraph shall become an additional debt o!Borrower and be secured by this
<br /> 5ecurily tastrumeat��These amounts shall bear inttrest from the date of disbursement.at thc Notc rate.and at the option ot ;
<br /> _ , LenQer.sheU bt immtdistely due attd Cayabte. _ � � . �
<br /> ! 7.Co�deaeatlo�.The prnceeds af eny aw�ud vr claim for damages.d'uect er cunseqaential.in connection wi�h any co»deni- �f
<br /> (�� n�tion or othEt laicitfg of any part of the Property.or for conveyance in place of condemnation.are hereby�ssigned and shall be
<br /> paid to Ltnder to th�extent of the full umount of the indebteanes9 that remains unpaid under�he Note and this Sccurity tn�tru�
<br /> mene.�ender sha0 aypty such procercts ea�hr redaction of ihe indebteetness under the Noce and thic Security Ir�suumen�,firs�to �`�'
<br /> any delirtQutnt amounis epplitd in tht ordet provideti in PatAgra�h 3,and�hen tu prepayment uf prinripal.Any applkaui�n of ��
<br />- ttte prtxeeds to tho pt,ncipa! shafl noi extend at postpane the due date nt the monthly paymentc.whfi�h are rcfened tU�n �
<br /> E:vugta�t�I,or rhi�t�ge tAe amaunt�t such paymenls.Artp e�cesv praceedc o+.�et an air►uunt reyu�reJ tEti pay ail��utriundinR in- '
<br /> dcbtcelness u��def tht Note and,�h+c tiecuriep (n;ttUtt�Ct11!�ltisll•he p��tl tt+ihe e�rtfty Ieg;tllV erifiNeJ th.rel�. " '
<br /> � b.i"ets.1 rr�dtt tnby Cbllect ftea and sharqe�nuthoti�ed bv the�eeretlifV • . �
<br /> � . [�vr:�,l s 4^ 4_. ._.._ . ___.______._
<br /> . �
<br />
|