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<br /> 1•�y-�eat ot Pri�ti�sl� lrieml �M l,�te C�r�e. �it►rra�ter shall�sy when duc thc prin�ipal uf, and inccrest an,the debe �
<br /> evldensed by the Note and tate cA�rReo due under�hr N«te.
<br /> � !.Mwtl�r h�b or r.��,�..«►..�.�e a�c�..porrowet shd)include in eACh mvntRly pAyment,to�ether with
<br /> the ixincipat ai►.i intereit u set tarth ln the Note Rnd any lato cAar�es.�n inet�ttiment oi any la)t�aes aad special asscssmsntc
<br /> kvied or ta be kvled yainst the Property, (b) kuehold p�yme�its or�round rents an the Pmperty, and (c) premlums for
<br /> � in�urancc re�qutrerl bY P�ra�raph�.
<br /> EacA mc+�+thly imtallrne�t far itemz(i),(d}�nci(c)ah�ll eqwl onr-ewethh o:the�nnud amounts,as resuanably estimated by
<br /> • Lender.p1w an amount sutt�cimt to m�lnt�in�n addition�t batance af not morc th+�n one•suth of the rstim�ted�maunts.The
<br /> � tuA anaual t�tta�nt tor ach item aha11!+e accumulaied by Lendrr within a period endin�one month before an item woutd
<br /> � beeoek de{inqr�mt.Lende�sball hold the�mounu coliected in truat to p�y item�(�).(b)and(c)before ihey become dellnquent.
<br /> �t se tnY dm�the total ot the p�yments hdd by tendtr for item�(�).(bf. and(c1.to�ether with the futurc monthly paymanta
<br /> . , for such items p�y�bk to l.endsr prior to the due d�ta vf�uch items,eaceeds by mare th�n one•si�cth the estlmated s�maunt of
<br /> P�Y�ts raluircd to pay such items�hen due,and if payments on the Noto arc curront. then Le�der shail either refund thc
<br /> � e.�oas evet oae-siath of the alimated p�yments or crcdit the exces�over ane-six[h of the estimated payments to subsequene
<br /> � ; p�rinent;by Borrower,�t the option of borroMer.if the tot+A of the payments m�de by�orrow•er for item(�).(b),or(c)Is
<br /> i insuttkknt to psy the item when due.thrn Borrowe�sh�ll pay to Lender�ny amount necess�try to make up thc de�ciency o�or
<br /> � befae the dace the Icem aecomes due.
<br /> As uyed in this Security Instrnment. "Secretuy" means the Secretary ai Housin� and Urban i�evelopment or his or her
<br /> dai�na.Most Security lnstrumrnts insured by the Secretary are insured undc�pro�rams which require adv��ce payment of the
<br /> entire mort�e in�uranee premium.lf thia 5ecurity Inatrument is or was insured under a prugram which did not reyuiro advance
<br /> paya�ent of the entire mort�e insurance prrmium.then each monthly psyment shall�iso include oither:(i)�n installment af the '
<br /> annua!mortp=e insurance prcmium to be pald by Lender to thc Srcretary�or (ii)a monthly chu�e instead of a mortgye
<br /> , lnsur�na premium ii this Se�curity Instrument is held by the Secretary. Each monthly installment of the mortaaae insurancc
<br /> premium shall be in an amouat auificlent to accumulate the tull�tnnual mortsaae insuraace premium with Lender one month
<br /> � prlor to the date the full annual mort�e insurance premium is due to the Secretary.or iP this Security tastrument i�held by the
<br /> i Secretuy.eacl►monthly char�e sfiall be in an unount equxl to oizr•twelfth of one•half percent of the outstanding principsd
<br /> bat�nce due on the Note.
<br /> � If Bonower trnders to Lender the full p�yment of all sums secumT by this Security Insttument.Borrowtr's accoun!shaU be
<br /> � � credited with the balanve temainin� for aU instaliments for items (al. Ib)and (c) and any moflaage insurance premium
<br /> iasiWment that Le�der hu not beeome obliasted to pay to the Secretary,And Lsnder shall promptly refund any excas funds to
<br /> �— �� �+arro�ver. ImmediatNy prior to a foreclosure sttt of the Pro�+env or its acquisition by Lender. 8orrawer's account shall bc
<br /> ev�dited wiah any balance remaininE for all inst�llmenis for ite�s�mt. (b)And�c).
<br /> i3.A�/�calioi�of P�y�ts.AU pa�ascnts under paragrophs 1 and 2 shaU be applied by Lender a9 follows:
<br /> �.to the mort��e insuraa�Y premium to be paid by Lender ta the Secretary ar to the moathly charge by the Secretary
<br /> 4 iostad of the monthly mortgs�e insurance premium,uafes�Borrower paid ihe e��ire mortgage insurance premiam whrn this '
<br /> 5ecurity Instrumrnt ws�eitned; .s
<br /> � �Q.to u►y taxes.apeciai usessments. leuehold payment�a�r�round►ents,and Gre.flood und othct hazard incnran�� __�r`
<br /> W c�wuma�w ruyuirai;
<br /> � T�1BQ.to interest due undec che Note: . ;,-
<br /> . �4URTH,to amortiratlon o(tht priacipa! uF the Note; --
<br /> __ FIFT11 �.^.j::t:�.�.�r.+�ii'c viwcF iuc i�V[C. - � -- _
<br /> ; e•Fire.�l�o��M Ot�HasaN liwnace.Borrower shall insureal3 improvements on the Property.whether now ia existence
<br /> or suMequ�ptly erected,awnst u�y hazards,casualties.�nd continsencies,indudins fire,for which Lender reqnires insurance. -
<br /> Thi�insurana shall �e m�intalned ln tho amounes and for the periods that l.endet requircs. Borrower shs11 atso insure all •.�
<br /> improvemenu on the Propeny,whether now in existence or subsequently erected,aaainst loss by floods to the extent required by
<br /> the Sesretuy.All in�urancr shsll b�e carried with compsnies sppraved by Lender.The iruurana pnlicits and any renewats shail
<br /> • be held bY Lender and shall lnclude loss payable clauses yn f�vor of, and in a ivrm acceptable to. Lender.
<br /> . � In the evrnt of los��Borrower ahall pye Lender immediatc notice by mail.Lender may make proof of loss if not made prompt-
<br /> �r bY�rower.EacA lnauraece company concerned is hereby authorized and ctirected to make payment for such loss directly to
<br /> Lrnder,instad of to Borrower u�d to Lender jointiy.All or any p�n of�he insurance proceeds may be applied by Ltnder.at its �'�
<br /> option, either(a) to the reduction of the indebtednesa under the Note and this Security instrument, first to any delinquent
<br /> anounts applie�d in the order in Puasraph 3, and thrre to prepayment of principal. or(b)to the restoration or repair of the ' "
<br /> dams�ed ptopeity.Aay�pGeation of the proceeds to the principat shall not extend or postpone the due date of tFe monthly ��
<br /> paytnenta vrfuch ue teferred to in Paragr�ph 2,ot change the amount of such p�yments.Any excas insurancr proceects oti•�r an � : �'
<br /> • amount requfired to pay ail outsunding indrbtecinas under the Note and this Security instrumcnt shall 6c paid to the entity Ergal-
<br /> ly entitled thereto. -
<br /> In the eve�t of forcclosure of thi� Security Instrument or other transfer of¢itfe to the Property that �xtinguishes the in-
<br /> deGtedness.all riRht,titie and intaest of Borrow�er in and to insurance policies ia force shail pa,as to�h�purchesee.
<br /> s' �^��� �w Mai�t�a�ce pt�l�e PwpertY.[.ea�eioi�s. Bonower shall not commit waste or destroy, damage or
<br /> � subst�ntidly chaate the Propeny or aliow the Property to deteriorate, reasonable wear aad tear excepted. Lender may inspoct
<br /> the property iF the ptoperty is vscant as abandoned rsr tht lain is in default.Lender m�y take teasonable action to pratect and
<br /> prexrve:uch vaeattt or ab�udoned property,�f this Stcurity lnsttument is on a ieasehold,Borrow•er shal!comply with the provi-
<br /> sions of the Itue, If Borrav�er acquires fee titte to the Propeny, the leasthold and fee title shall not be merged unless Lender
<br /> ajr�xs to the met�er in writina.
<br /> � . �.Clsr�es ts Dossv�ra tsd Ptateci�ot�►P I,eeW�r's Ri�b t�t6e Pro .t3orrowcr sh
<br /> ��sp����� Pmy �fl pay all go�ernmental or muntcipal
<br /> pos+tw�s th�t�re csot included in PArasroph 2.Borrawer shill pay these obiigations on time direcfly to the
<br /> entity�hich is owtd the pa��vncnt.lf failure to pay w.a;�Id advtrufy atfeet l.ender's interest in the ProDerty,upon Lender's re•
<br /> � quest Bottow�er shall promptiy futnish to Lendrr rez�;�ts evidencing these payments.
<br /> if Bofrawer Fin►s to make Ihese paymenu nr the payments required by Parasraph 2,or f�ils�o perform ariy ocher cavenants and - -
<br /> '�� airetmeots eont�ined in thia Stcutity Inatrument,or tfiere is a legal proceeding that may s�gnifcandy atfect I.ender'x righ�c i�
<br /> ii�c?:3�y��urn aa a prooeedina in v�nicNptcy,fos condemnation or to enforce laws ur regalations),then Lender may do and
<br /> p�y whaterer is necessary to protecl the value of the�'toperty and Lender's rights in t he Property,including payment of'taxes,
<br /> hizud insuranoe and other itcros mentioned in i'ara�rrnh 2.
<br /> Any amounts disDursed by lender undec this E'aragraph shall btcome an additionaJ debt of Borrower and be secured by this �
<br /> Seeutity lnstrument.These amaunts shalt beu ini�resl ftam the date of disbursement,at the Vote ra�e, anJ ar the option ot
<br /> i.tnder,shW be immediately due�nd payab�e. �.
<br /> � T• CoNtwutlo�.The proeeeds of any aw•ud�r titim f�t damages,direct or cansrquential.:n connection with any rondem-
<br /> nation or other takin�of any pan oP the Praperty,ot for eanvtyanre in place of condemnae�vn,are hereby acKipned a�rd 4ha11 be
<br /> paid t�Lcnc{er to theextrnt of the fuii amount of Ihe indebtedness that�emains unpa�d under the tiote anJ ti�is 5ecunty fntitni �"
<br /> mttst.Lcnder shall apply such proceeJs to the reduction of the mdebtrdnr..s under the!+�ute and th�a Secunty in,inimc��, f�n�ic. ��
<br /> any ctelinquent amounts applied �n the order prov�ded in Paragraph 3,bnd then to prevayment ot PrirtciPal .4m apph�at�un c,f
<br /> the ptoatds to the principal �hall not extend ar postpone the dve date uf the monthl • 't'
<br /> Paragtaph 2,or change the amount of such nayments.Any etice�s z�roreecfs o�er an arr.nun�acennr�c•cj��h�ch are reFerre:.i w �n ,
<br /> . debtedne:s under �he Note and [his Se�ur�ty� Inctrument �halt be pci�d t�� the en:�i�• Ic�:all� ent,�kd rherer,�� 1����'irsta��d�nN;r,
<br /> �. Fee�. t-rnder m��•i„Ilcct fecc and:hatgcs auihnn�ed i�y the�e�reian
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