|
•j � . . ., .. _� _ ___ _ __
<br />-r
<br /> � �^�
<br /> �
<br /> ; �„�,�1A1893
<br /> �,r*t��p�r�l����tr�eat nsH}A.�tt fha�t. Basr��er sl�sN pay whrn�.�the prtn+:ipal of,and tnterest an,the debt
<br /> evidee��d by the Not��nA late c�r�dc�untics tAc Note.
<br /> ��1M+��17'�1�N��t'1Yuar.l�w���+1[l11�er CM�r�es.Bot�owrr eh�ll l��;luiic in e�ch monthly p�ymertt,to{t�her wi�h
<br /> �"" Ih�principal snd lnternt w net Porih i»�M Note and rny late chu�a,�n In�taliment ot any(�)taxe��n4 speclal �ua�ments
<br /> f kvied a�to be kvkd yainu !hc�'roperly,(b)�r�ueAo{d p�ymenn w�rouad rrnt�on Ihe Property.and(c)premlums for
<br /> In4�r�r rcqufn�!bp Patt�r�A.
<br /> �ch nwatAly In���t fc�r htm�{�1.lb3�d{c)�hall c�tu�1 aae-twtilth pi the aanu�!amoar�s.ai crawaably es!ln�ated by
<br /> I.eader.plui�n�urtaunt�uftk�Rnt�r,r�inWn�e�dditbnd balance oi noc moce than oae-�eh of ihe atlm�ted�mauna.The
<br /> teli snawQ�mouae fpc a�ch ltem�h�ll be�ceumuatad Dy Lenber witAfn�period endin�wie month beforc�n item MouW
<br /> b�co�wr tkftnq�n�.Ltn�ah�N Itoki eht Qrnauna cotiocted in tnut to p�y ite�m�f�).rb)�nd(c)be�ore Ihey become Qellnquenl.
<br /> It�t Nny tfMa the ta�l of the p�ymenes Acld by Lender to�item+(�),(A�,�nd(c).tc+jether with the future monthly payments
<br /> far wch ften�pay�bla to�ender prtar ta the due datn aE iuch item�,exceed�by more th:n one•�i�th t�e atim�ted�mount ol'
<br /> p�pa►ent��c�uittd ta p�y auch tten+��hsn due.artd it psyment�on the Note�re cunent.�hen Lender ah�ll dther refund the
<br /> esaw aver oae•eixth of�ltit esti�ted Mymenq cx cnbh the eace�s orer one-e�Cth of the esdrtu�ted payment�to subtequent
<br /> pa�ents b!llortower,st Iht orikm af Borrawrr.If the total ot the p�ymenls madc�y�onrawer for item(�)�(b),or(c)is
<br /> iawttidn�t ta pyr the itna wheq Mae.��e.a�1Borrowu�hall pa�r�o I.ender anr amou�c necessuy co make up ihe deticienc�r on o�
<br /> bKors the d+�ce ihe itar�baome�due.
<br /> M w�d in tAi�Secur(t�+ iestrument. '�Secretarar"mans the Secraary of Hou�in��r�d Urban Devdopment or hb or her
<br /> dai{�ae.MoN Stcudt�lnsttument=iasured by the Secretary�ue in�ured u�der pro�ramt which requlre advance p�yment of the
<br /> sndee mort�a�e inwtuue�anium.l�this S�curity Ieatumeal i�or�ss ineure�under�projrnm which did nw reQuire advance
<br /> pe�ex of tl�a eatire mortsye imm�ece premium.thrn ach moalhly paymenl:hall d�o include eithet:(p an inslalimmt oi the
<br /> •aaw!�eo�tp�e i�wt�nce prcmium to be paid by Lender to the Secretary� or(ii)�monthl�r chu=e inetead of a mort�sae •
<br /> ie�urtt�ce premium it thl� Security leatrument t� held by the Secrctary. EacA monthly Inst�liment of Ihe mo�t�are tnwrance
<br /> premivm iha0 be in aa�nwunt autt{cknt to accumulate tl�e full�nnutl monsaje Insurance premium with Lender one nwnth
<br /> prior to the d�te the full anewl mon�e insuranco premtum is due to the Secteqry.ot ii this Secu�Ity Imtrument is hel�bv the
<br /> Secretary,ach monthly ctw�e�haU be in��amount cqua!to one-twd�th ot oae-h�lf pereset of the outstandlns prtn��pil
<br /> b�4nce due aa the Note.
<br /> !t BorroMer tenden to[.eader the full payment of dl sums secured by this Security Insuument.Borrower's�ecount sAall be
<br /> credlted wlth the baWke rem�lnt� tor �II installment� for item� (�), (b) aad (c) �nd a�y mortqte insur�nce premlum
<br /> inkallment thst Lender has not become oblipted ta pay to tho Secrctary.�nd l.cndrs sha!!promplly refund any eices.�fund�to
<br /> Bortorrer. lmmediatelq prioe to�forecbsurc�ak of Ihe Proper[y or i�a acquisilion by Lender, Borrowes"s account ah�ll be
<br /> credit�d Mith any bai�nce remalnin{tor all installments for item�(�)�(e)and(c).
<br /> i.A//Mt�K l�e�M.All�oaymenta under p�r�p�phs ! utid 2 sh�ll t�e appiied by f_ender as follaws:
<br /> �$r,to the tnort�ye insura�ra premium to be paid by 4enc.'�er to�he Secretsry or to the manthly char�e by the 5erretary
<br /> tn�tad ot�he monthly mortp�e inwrance premium.unlesf Eiorruwer p�id the eetire mott��c insurance prsmium when thi+
<br /> Securley tnstrumene was aisned:
<br /> ,�Q,�Q.to anY tuca.spccisl uxysments,IeasehoW pi��mtnts or sround rents.and fire.tlood and other ha�ard in�urance
<br /> p�emtumt,a rcqulred; .
<br /> �}�,16j�.to ietercxt due under the Nae;
<br /> pQ�RT'H.to amortiution ot Ihe princial ot the Note; �
<br /> �,to tate ch�u�due under tAe Note. -
<br /> 1.F`i�e�FMM aM tkier H�s�M l�wn�c�e,Bosrt3��e�shal)insure all improvemenis on Ihe Property.whether now in exittcnce
<br /> or tubaequently aected.�aln�t any husrd�,essualtles.and eontin�encirs,lntludinR fite.for which I.ender requires imurance. _
<br /> Thi�lasunu�ce thall be maintafned fn tl�e�mounu and for �he periads�ha� Lender requiRes. Honower �hsll�Isv insure all
<br /> imptovementt on the Property.whetfler now In existence or subsequenUy erected,aesinst(nss by tlood�to Ihe estent required by I
<br /> the Secretary.All in�utuice shaU be carried wlth campanlea approved by I.ender.The insurance palkics aad any renewals shall �
<br /> be heid 6y Lender and�hdl inciude los�p�yabk�lsuse�in favor of. �nd in�form acaptabk to,Lender.
<br /> In tho eveet ot losa.Borrower�hal!�ive Lender lmmediate noticr by mail.Lender may make proof of loss if not made prompt-
<br /> � lr by�on�o*K•F.acls insurance company concerned ia dere�y a�ic.horized and direetM to makr payment for such loss direcdy to {,
<br /> Lender.in�tad of to 8ottower and to l.endet jointty.AU or aRX patt ot the iasurance procced�miy be applied by Lender.at its r
<br /> oplbn. dlher(a)to the rcdurtion of the indebtedne�s under thc`:�te and Ihis Securlly Instrument. first to any dellnQuent •
<br /> a�nounts appiied in the ordet in Parajraph�.ancf tAee to prepayment of principsi. or(b)to the restor�tioa or repair oi the '
<br /> danured pruperty.Anq�pplicatton of the proceeds to the princip�l:1►all not eatend or po�tpone the due date of the monthiy
<br /> parment�Mhkh are«terrcd to in Paryraph 2,or ehsn=e the amount of�uch psymenta.Anp eacess insLr�nce proceedso�er an �
<br /> �mount reqpited to p�y W�utstandins Indebtedna�under the Note�nd thi�Security Instr�t�eQt shtll be paid to the enti�y le6af- .�
<br /> ty entitted thereto.
<br /> In the event of foteclosure of tAi�Secutity Instrument or other transfer of titte tu�he Property that extin�uisha ihe in•
<br /> debttdnea,all ti=ht.tltk and intetest of Borrower io and to insurance polidex in for�Y shall psss to the purchuer.
<br /> s• Preserr�tloa r�M M�iwley�ce of tre ho�est�. l.ta�t�oW�, garrower sh�l{ no� cor.nrnit wute or datroy, damage ar
<br /> subsqnttaliy thatue the Property ot allow tAe Property to detcr.farate,reasonable wrar�nd tar excepted. l.ender may inspect
<br /> the pto�e.tty if the pro�etty is vactnt or abandoned or the loarr�s in default.Lender may tske reu�nabte action to ptotect and
<br /> prexrre such�,kan�or�bandoned vroveny.if thls Security instrument is on a�casehold,f3�inower shap compfy wi�h �he pro�•i-
<br /> sion�oi tht kase.If Betrower acquira fet title t�s the Propeny. the lessehoid an0 fee titk shail not be meraed unies�LenQev
<br /> , a�ttri tu the mer{ee ta writin�.
<br /> �•C�ea��Mtt+�wer a�d�stEeW�ot LeMer'�RIRAt�Iw e1�e�ro/erly.Bo►rower shili;pav all eovernmentrl or sr�;vcipal
<br /> ��t�s.fafes and iiupodlidm ti�at ue nat inctu�i�Para�t��*?.8�tcowtr slts!!p:;lhes=vbligatiasts oa iimc dir�ily ia the
<br /> entitK which i�owed tbe p�yrment. lt fdture to pay woutd adversety affect Lender's intetat in the Property,upon Lender's re-
<br /> Quat 8anu�rer shdt pcomptly furni.h ta I.ender receidts evideecin6 these payments.
<br /> !/Borrower tail�to make these payment�or the payment�reyuired by Paraar:ph 2,or fails to perfurm any oiher cavenants and
<br /> a[ree�a�enb containt�d ie this Seeurfty Itutrument.ar there is a led�l prr.ceedina that may sianiGcantly offect I.ender's rights in
<br /> the Ptogrtly(sueh as�prt�seedin�in bankruptc,Y.for condemnation or to enforce laws or regul�tions},then l endtr may do and '-`��
<br /> p�y wb�ltevet is necesaaty to protect the value of the Propeny and LenQer's riEht�in the Propeny,includina payment ot taxeS.
<br /> huud insurance ind o�her items mentioned in P�ra�rapfi 2.
<br /> Any artaunts disbursed by Itc�der under this Prragraph sh�ll hecome an additiunal debt of Bor�ower and be secured by th�c
<br /> Security Instrument. These amoums shu9 hear interest f�om the date o!disbarsemer�a, a� shr N�te rate,ond at the ��pliur� of �
<br /> �ender. shal!be immedately due�nd payable.
<br /> �.Co�tw�tb�.Tht praeeeds of any award at claim for damagn,direct or consequenual,in connectioti w i�h any condc�n �t
<br /> L nation or other takina ot�ey part of the Prrpeny,ctt for con��eyynce in place uf ronefrn�nation,ue hereby assigned an�shall he
<br /> paid to Lender ta the eatent of the fvU an�ourn�I thr indebtedness that remains unp�id under the Note and this Securety Instru�
<br /> ment.Lercdet shaQ apply surh proceeds to the�cduction ot the indcbtcMrss undrr the Notr and thts Secariiy InqtrueneRt,firs�t�
<br /> eny c!eliriquent amounts appfitd in the order provided in paraaraph 3,anJ thcn to pre�►�yment of print�{�al. Any epFlicalian of ��
<br /> the procetds ro �he arincipaf sha:i not eetrnd u► poslpone the due date of the munthly payments, whfi�h arc referreA to :n �
<br /> Pu�artph 2,or ch�nae the amaunx of s�rh paymenis.Any etcess proceed�o�er aoi nmoun�reyuited tc�pay all owct�nding m ,�
<br /> dt6ttd�.�ss undtr the Note a�id Ihis Security Ins!romtnt shall Ar pafd te�ht er�uty tegalty enta�led therno
<br /> b. ��et�. i ender mav cnitei•t frec cu�d chatQes niilh�tired t+y the 5n•r�r;�ry
<br /> J'✓QP.-.I( _ �—_ .___.._..�.�. _'_ . _ _.__ . _.
<br /> , �
<br /> _ -- ,�� __.--- ..,..._._..__.�.�-----�---�—
<br /> ; -. . - __ ..._.__.�_...--•.._.., _...___�..__.�T�...._,..__, - --- -- --- ---- - • - .-, _--- -- -
<br /> - - ..
<br /> m . . � ----- -- .r ..... ._
<br /> - , .�� Tr-"-- ��
<br /> ' • � . ' �•.. `
<br /> ";t ., _ ..
<br /> �
<br />
|