|
_.� _ __ __ __ � _ • ._ �_�.. �s��..
<br /> ��
<br /> — , � �
<br /> 94--1 a2 f 5 i
<br /> ' 1.P�y��t at Ptl�ctp�l,lnteMSt�wd Ltte CM�.�e.Borrower shall pay when due thc principal af,and interest on, the dcbt
<br /> evldensed by!he Note and tatc rhar�es due under the Note.
<br /> � 2.Mo�I�F�ls�yaea�b a�Taaa.Iu�taar.e��d Ot6er C�usa,Borcower sh�A inrlude in each monthly payment.together with
<br /> the princip�l�.nd Intereat as sM fortA in the Note utd tny late chuges.an instcilImtni of any(a)taxes and specia)assessments
<br /> tevitd or to De levied agaiinst the Property,(h)leasehoid paymeats or gra�md ctn�ts on the Propeay, and(c)premiums for
<br /> inntnmcr required bY Pue�r�ph 4.
<br /> A�c�h manthly i�st�llinent faa�ir.ems(ah��bD�d(c)shall egu�el one-twGiftri af the annual amaunts,as reasonabiy estimated b��
<br /> Lcnder�plu�en smount su1��e�,t cp enA9s�la3n an�tfid�tia��9 bdlance of nat mere tt�an une-siath af ths estimat�cl nmaunts.Thc
<br /> fuU�annuul amauttt for aach i�,�ra s9nafl �a�aumnlated fiy l,cnder within a peri,nd�nding onr mflath before nn itam.woald
<br /> `, beCamp d�l9nqaant,l.endrr sh�6 H�2d the amc�unte coUected ia tnttt to pa�y items(u),(b1 and(c)b�fota thoy 6eeame dGlinqusnt.
<br /> If�t�ay ttttle Lha tot�t of the paymenu held by Lender for items(a),(b),and(c)�tagether with,tho future manthly p�►ymonts
<br /> far,�uch itam:Ray�bta to Lendu prlor ta tho duo data of such items.exceeds by mara th�u►,one-atxlh,tha est)mated aunount of
<br /> paymeqts reQalred to pay such item� �rhea due.iu►d if payments on the Nate are cunent�then l.ender shail either refund the
<br /> acceas over one-sixth of the e�timated p�;^nrnts or credit the excess over one-si�th�of�the estim�ted psyments to subsequer�t
<br /> paymeats by Honower,at the aptlon of Horrower. it the totd of tho payments m�de by Borrower for item(a).(b),or(c)is
<br /> insuttkknt to pay the ltem when due.then Horrowe�ah�ll p�y to 4endar any amount necess�ry to make up the deficiency on or
<br /> before the date the item become�due.
<br /> A� wed #n thi�Security instnrment, "Secretary•' means the Secrotary of Hou�in�and Urt+an Devetopment or his or her
<br /> desisnee.Mos►Security Instrument�insured by the Secretary ue imured under pro�ram�which require advance p�ymrnt of the
<br /> , rntire mort�ye insurance premium,if this Security lnsuument is or wa�insured under a proj�am which did not require advxnce
<br /> pRyment of the entirc rnort�qe insurance premlum,then tach monthly payment shaU also include either:(i)an inst�llment of the
<br /> i annual mortja�e in�urance premium to be psid by Lender to the Secretary. or(ii)a monihly chuae instad of a mortg�ge �
<br /> iniuranoe prnpium if this Security 1�atrument ia held by the Secratary. &ch monthly inst�llmeat of the mort�qe lnsurance
<br /> premium sh�ll be in an amount sufflcient to wccumulate the full�n�ua1 mortga�te insunnce premium with Lender one month
<br /> p�ior to the date the fuU�nnual mon�a�e insurance preminm is due to the Secretary,or if thls Secudty Instrument is held by the
<br /> ' Secretuy. euh monthly charje shaU be in�n amount equa�l to one-twelfth of one-half percent of the outstandiag principal
<br /> � balance due on the Note.
<br /> • if Barrower tenders to Lender the full payment of all sums secured by this Security Instrument,Horrower's account shall be
<br /> crcdlted with the b�lance rem�ining for all inst�llments for items (a). (b) and (c) �nd any mortgage insurance premium
<br /> � instalimeat that Lender has not become obligated to pay ta the Secretary,and Lender shall praazptly refund any eaccss funds to
<br /> Borrower. lmmedi�tely prior to a foreclosure sale of the Property or its acquisition by Lender,Bottower's account shaU be
<br /> credited wit6 uiy bdance reauining for aU instalimenu for items(A),(b)and(c).
<br /> 3.Ap�i{eaHo�of Pa��ls.All payments under paragraphs 1 and 2 shall be a�ptied by Lender a9 iollow�:
<br /> �$,$�.to the mort�e insurance premium to be paid by Lender to the Secretuy or ta the monthly charge by the Secretary �
<br /> iastad of the monthly morta�ge insurance premium,unless Bonower paid the entire mortgage insurance prem9am when thls
<br /> ; Secudty lnstrument was sisned; .'
<br /> ! �EC85�iI3�to any taxes.sp�:iai�a�uu,ds,ir.�seiwid paymenu or ground renis,und iirr,iitxxi uu�uii�a�i��uuu irisai�;tce �---`
<br /> � ptetNutnt. a�requircd; ;
<br /> �[$p. to interat due under the Note; •
<br /> ' ..,..r.. - -
<br /> r a, ,io amoriiuiion oi ine prin�ipti oi tbe Note: .
<br /> ��. to late charses dve nnder the Note. �_
<br /> �.Ftre,Flooi aN Otrer Hss�rd Iwaace,Bonowet shaU insure all improvements on the Propetty�whether now in existcnce
<br /> or subsequentiy erocted.against any haurds,cssualties,and wntingencies,includinj fire,for which Lender requires insurance. ''
<br /> This insurance ahall be maint#inod in the amounts and for the periods that L.ender requires. 8arrower sh�ll also insure all
<br /> lmpmvementa on the Propaty.whether now in existena or subsequontly erecced.agsnst los�by�loods to the eatent required by !
<br /> the Secretary.All insurance shall be carrled with compania approved by Lender.�'he insurance policies sind any renewals shaq
<br /> be Aeld by Lender tad shall include lou ps�yable clauses in favor of. and in a furm acaptable to,L.ender.
<br /> , In the event of los�.Borro�ver shall give Lender immediate notice by rnail.Lender may make proof of loss if not made promDt-
<br /> ly by Botrower.Each insurana company concerned is hereby authoriud and d'uected to make payment for such loss directly to �
<br /> Lender,iastead of to 9orrowa and to Lender jointly.All or any part of the insurance proceeds may be applied by Lender.at its
<br /> option,eit�her(a) to the reduction of the indebtedness under the Note and this Sesurity Instrument, first to any delinquent
<br /> amouats applled in the order nn Paragraph 3, and then to prepayment of principat,or(b)to the restoration or repair of the
<br /> damaied property.Any apglication of the proceeds to the princip�l sh�ll not eztend or postpone the due date of the monthly
<br /> psyments whkh ue tefemd to in Puasraph 2.or change the amount of such payments.Any excess insurance proceeds over an •
<br /> unount roquired to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legal- '
<br /> ly entitled thereto. , `
<br /> � In the event of foteclosure of th9s Security Instrument or other transfer of titie to the Property that eatinguishes the in-
<br /> , debtedness, all right,title and interest of Borrower in and to insurance policies in force shall pass to the purchaser.
<br /> . S. P�en�llo� ard Maiatea�ce of tre Prooertr. I.ease�olds. Borrower shall not commit waste or destroy,dan�age or
<br /> aubstandWy change the Propeny or allow the Property tn deteriorate,reasonable wear�nd tear ezcepted. Lender may inspect
<br /> the propetty if the property is v�cant or abandoned or the loan is;n default.I.onda may talce reasonable action to protect and
<br /> praerve such vacu�t or abandoned prope�ty.lf this Security Instrument is on a leasehold,Bonower shall comply with the provi-
<br /> slons of the lase. If Borrower�cquites fee dtte to the Property, the leasehold and fa title shall not be merged unless(r_nder
<br /> �tets to the merger in writing.
<br /> 6.C�utes to aorrower a�d ProtecUo�ot Le�der's Rl�b t�tre ProPert�.Bonower shall pay all governmental or municipal
<br /> chu�es,Pu�ss and impositions that are not included in Puzgraph 2.Borrower shall pay these obligations on time directly to the
<br />: rntity which ls owed the payment. If failure to pay would adversely affect Lender's interest in the Property,upon Lender's re-
<br /> quest Borcower shal!promptly furnish to Lender receipts evidencing these payments.
<br /> lf Bonower fails ta make these paymenu or the payments required by Puagraph 2,or fails to perform any other covcnants and
<br /> agreements contained in this Security Instrument,or there is a tegal proceeding that may significantly sifect Lertder's rights in ` --
<br /> the Property(such ac a procading in bankruptcy.for condemnation or co enforce laws or regulations).then Lender may do and '
<br /> pay whsttever is ae�,sary to protect the v�lue of the Property and Lender's rights in the Propeny,including payment of taxes,
<br /> hazard insur�usce and other items tnentioned in Paragraph 2.
<br /> Any amourns disbursed by lendec urtder�his Paragraph shall bec.or.:e an ad��tienai�ebt af Ba�rower and be secured by this
<br /> Secarity Instrument.These arnounts st�al� bear interest from thr dare of disbu�secnent,at the:�ote rate, and at the option of
<br /> Lender,ahall be immediately due and payable. M
<br /> I 7.Co�demn�tlon.The proceeds of any awazd or claim for damages.direct or consequential,in connection with any condem-
<br /> ir nation ot other taking of any part of the Property.ar for conveyance in place of condemnation,are hereby assigned and shall be �
<br /> paid to Lender to theextent of thc full amount of the indebtedness that remains unpaid under the Note and this Security lnstru• n,
<br /> ment.Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument,firct to �p
<br /> any delinquent amounts epplied iu thc order provided in Paragteph 3.and then to prepayment of principal. Any appl�cation of 1A
<br /> the procetds to the princi�pal shall not extend ot postpane tht due date of the monthly payments, u�hich are refcrrcd to ro ��
<br /> Paragraph 2.or change the amount of such paymtnts.Any excess proceeds over an amount rey«ired cu pay aU��u��tand�ng�n• �,
<br /> debtedness under the Note and this Security Instrument shall be pafd to thc rntrty Icgally ennticd iheretu
<br /> �. M�et�. Lender may collect feec and charges .wthorired by Ihe Secretary
<br /> I'uuc�1„I a�--- . -.- .� _._ _. ._._.. _ �J
<br /> - .- - .._ ... ._.. .. ... _...._. ___• ��-__—_ _._. _-- - -•-• -----�--- �
<br /> .t�.. _ . .`, t Y__._..._...._ ,.- �. --,--- • ----._-__�_ __.._.. �. ___�,•-- ^- . �—r�-,; -- -._.
<br /> ' ` , t , . 11ii _ , • � .. r,=_••� . •
<br /> ,.�'% ' .i��7 W' _,.
<br /> , . ' ";.�1� �T1�,4�.. � . ���.�1�. _ . . M . . � o��lt•`,
<br /> • iy:�,.. �.
<br /> •.,,: ;,; • . ,..r . , , i+• . , . ::?:,. ,
<br /> -- ' -3''— — �5. v� �?� � _.SC. _ F. J )';.t. - . � . ' NC �
<br />-'._—_— — . -- ' . _ ' .__ _ �"'— _ _ _ _ __ .�':
<br /> ,.i.
<br /> _— _. . . ._.._ ..-.. _ _ � __— ". . . ".— '. . . '_
<br />. . _- .— . . . �$ti,!% . ..�._ .::�,?',n � - ' — , ,�_. . .. . . ; _' _ —. _ __. '_. -_ _ _.—_.
<br /> � ' � . . . '+ttl���i"r � ..
<br />
|