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<br /> 9A°-10�302
<br /> • l.1'my�ent of Prl��p�l.tatsrtst tnd L�te C6ar�e.Barrower shall p�y when duc the principal of.and intcrest on,the debt
<br /> evidenced by the Note and latr charges due under tAc Note.
<br /> � 2.Mo�Oy h�ise�b ot'l'ae�.luunace aad OIYer C�ar�es.Borcowrer ahap irtclude i.n each monthly payment.together with
<br /> the pdneipal�tnd interat�s set forth in the Note�nd any lato chte�es� an installment of any(a)taxes and special assessments
<br /> levied or to 6e levied�e�gainst the Property, (6) leasthaSd p�►yment��r 8�aund rents�n tha Prape�ty, and(C) premiums far
<br /> , insuru�ce cequired by Para�riph 4.
<br /> Each monthly installment for items(a),(b)and(c�ahW equ�l one-twtlfth af the annual amauats.as reasanably esUmxted by
<br /> Lendet.plus�n�mount sutficknt to maint�in an�ddlUona!balanca of not more than one-sixth of the estimated amounis.The
<br /> full annual amount fos each item shai{be accusnulated by Lender within a prrlod ending one mouth befora an item would
<br /> become deUnquent.Lender shW hold the amaunts cop�cted in trust to pay items(a),(b)and(c)before they become deliaquent.
<br /> lf at any ttm�the total of the payments held by Leader for items(a),(b),and(c),together with the future monthly payments
<br /> Eor such items payabk to Lender pdor to the due dates of such Items,ea�ceeds by more than one•sixth the estimated amount of
<br /> payments rcqulred to paY such items when due. xnd if payments on the Note are current�then Lender ahall elthe�refund the
<br /> cxce�over one-s3xth of the atim�ted payments or credit the eacas over one-siath of the est�matal paymente to subscquent ,
<br /> psymenu by 8orrower,at the aption of Horrower, 1f tde total of the psyments made by Borrower for item(a), (b),or(c)is
<br /> , insuffkteat to p�y the item when due,thea Borrower sball pay to l,ender anY amount necaury to make up the deficicncy on or
<br /> , before the date the itom becomes due.
<br /> • Aa used in this Saurity Instrument. "Secntary" mexns the Secretary of Housing and Urban Uevelopment or his or her
<br /> daipKe.Moat Security Instruments insurez2 by tAe 5ecretuy sire lnsured under prognms which require advance payment of th�
<br /> � entire mort�e insuru�ce premium.lf this Security l�strument is or w�s inaured under a program which did not require advance
<br /> paymeat of the entire mort�a=e insurance premiu�,t�n each monthly payment sh�ll also include either:(i)an installment of the
<br /> ; wnwl mort�qe insursnce prcmium to be paid Dy �.ender to th�Secretary, or (U) a monthly charge uastead of a mortgage
<br /> , in�urance premium lf this Security Iestr�ment is held by the Secretary. Each monthly inst+atment of the mortgage insurance
<br /> premium ahall be in�n Amount suffc�;t to accumnlate the fut!a�unuAl mongage insurana premium with Lender one month
<br /> pdor to the date the fWl�tnnud mongaae insurance premium is due to the Secretary,or if thls Sccurlty lnstrament is hdd by the
<br /> " . Secretary.each monthly chu�e sh�li be in an amount equal to one•twelfth of one-half percent of the Qutstanding princlpal
<br /> balaace due on the Note.
<br /> If Aorrower tendero to Lender the fu[l payment ef ail sums secured by this Secudty Instrument, Borrower's account shaU be
<br /> creditod with tha b�lana remainins fes all instsillments for items (a). ib) uad (c) and any mortg�e insurance premium
<br /> installment thit Lender has not becoia.e obli�ated to pay to the Secretary,artd Lender shall promptly refund any eacess funds to �
<br /> Borrower. Immediately prior to a forec9osure sale of the Property ar its acquisition by Lender, Borrower's account shall be �
<br /> credited with�ny bal�nce remstining for aU instatLments for items(a),(b)and(c).
<br /> 3.AppMc�tb�o!r��e�U. All payzaents under puagraphs 1 and 2 shall be applied by Lender as foITa�-�: .
<br /> FIRS'*'.to the mon�a�e insuraace�cesaium ta be paid by Lender to the Secretary or to the monthly ehazgt by the Secsetary
<br /> instad v€the monthly moR��e inurcance premium,unitss BonQV��cr�aid the entire mongage lnsarance premium when this .
<br /> Security Instrument wu signed; �
<br /> SECOND,to u�y taxes.specia!assessments,lr.asehold payments or ground rents,and fire,flood and other hazard insurance ,
<br /> premiums,a�e rcrZ»irHl;
<br /> �$,Q,to Interat due under the E�tote;
<br /> FOUItTH,to amortiution of the grincipal of the Note;
<br /> - FIFI'H,to Iite cbuses due undet the Note. ;.
<br /> 1.Fire,I�looi ud Ot�er H�wrd las�ra�ce.Borrower shsll insure all improvemenu on the Property,whether now in exisience -
<br /> or subsequently erected,against any hazards,casualtiu,and cantitigencies,incIuding fite. for whlch Leader requires lnsurance. �
<br /> 7'his inswana shall be taaintainod in the amounts and for the periods that Lender requires. Borrowu shail also inswe all �e'—
<br /> improvemenu on the Property,whaher now in existence or subseqnently erected.ag�inst loss�y ftoods to che extent required by
<br /> the Secretary.All insurance shall be carried with compu�ies apgratiYd by Lender.t'he insurac�x policies and any renewals shall
<br /> be heW by Lend�r and shall inctude loss payable ciauses in favor of,and In a foam acceptaEEe to, Lender.
<br /> In the event of los�,Borcower shall give Leader immedimte notice by mail.Lender may make proof of loss if not made prompt-
<br /> ly by Bosrower.Each Insurance company concemed is hereby authorited and diteeted to make payment for such loss directly to �
<br /> Leader,iastead of to Bonower and to l.ender jointiy.All or any part of the inswana prooads may be appfied by l,ender,at its
<br /> option, either(a) to the r�ucbion oF the indebtedneu under the Note and this Security lnstrument,fint to any delinquent '
<br /> amounts applied ia tbe or er in Paragraph 3.and then to prcpayment of priacipal, or(b)to the ratoration or repair of the
<br /> dams�ed property.My application of the proceeda to the principal shall not eatead or postpone the due date of the monthly
<br /> payments which ue refened to in Puagraph 2.or change the ainount of such payments.Any excas insurance proceeds over an ��
<br /> . �mount required ta p�y a1)outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity 1ega1- �
<br /> ly entitled thercto.
<br /> in the event of forcclosure of thls Security instrument or other transfer of title to the Property that eatinguishes the in-
<br /> debtedness.all right,tide and interat of Borrower in and to irtsurance policies in force shall pau to the purchaser.
<br /> S. Praer.atlo� ud Mahie�ssce ot tAe Propat�. Leaxhold�. Borrower shalt not commit w�ste or desuoy. damage or
<br /> sub�taatially chan�e the Property or allow the Property to deteriorate,reasonable wear atsd tear excepted. Lender may inspect
<br /> the property if the propeRy is vacant or abandonod or the loan is in defautt.Lender may take reasonable action to protect and
<br /> pre.xrve such ruant or abandoned property.lf this Security Instrument is on a leasehold,Bonower shall comply with the provi-
<br /> sions of the iease. If Borrower acquires fa title to the Property, the leasehold and fee title shall aot be merged unless Lender
<br /> a�rea t�the merget in writing.
<br /> f.C�ea ta sorro�ver ud Protatlo�of Le�der'a Ri�t�i�ttie Property.Borrower sha11 pay all governmenta!or municipal
<br /> charsa.fiaes u►d imposId�ns that ue aat included in Paragraph 2.$orrower shall pay these obligatians on time directly to the
<br /> entity which is owed the payru:at. If failure to pay would advtrsely affect Lender's interat in the P:operty.upon Lender's re-
<br /> quest Bonower shall prompti�;furnish to Lender raeipts evidencing these payments.
<br /> If 9orrower fails to make these payments or the payments required by P�tragrAph 2.or fails to perform any other cvvenants and
<br /> a;reements oonttined in this Security Instrument.or there is a legal proceeding that may significantly affect Len�er's rights in " - �
<br /> tht Pcopetty(such as a ptocttding in bankrsiptcy. for condtmaation ot to enforce laws or regulations).then i.endrr may do and '
<br /> pay whatever is necessuy to protect the value of ihe Propeny and L.ender's rights in the Propeny,including payment of taxes,
<br /> hazard insurance and other itoms mentioned in Puagraph 2. ,
<br /> Any amounts disbutsed by leader under this Paragraph shall become an additional debt of Borcower and be secured by this �
<br /> Security Instrument.These amounts shall btar interest frflm the date of disbursement, at the Note rate, and at the option of
<br /> Lender, shall bc immediate3y due and payable. �
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<br /> � �.Co�de��ullos.7he proceeds of any award�r claim for damages,direct o:consequential,e n conneccion wnh any condem-
<br /> nation or other ta�ing of any part of the Propeny,or for conveyance in place of condemnation,are hereby assigned and shall be �,
<br /> paid to Lender to the extent of thc fult amoant of the indebteGness that remams unpa�d under the 1�'ote and th�s Security Instru- �
<br /> ment.Lendet shall appty such proceeds to tho reduction of[he indebtedness under ehe Note and this 5ecunty(nstrument,firct to �p
<br /> any delirtqueni amuut�ts epyiit,i i��.fi�ai�ii yiO�:G}Ct�a 10 a'8ia6fo�tii 3.u���i�'ic'i�ta prepa}�iieai�.f p�ir��;pai. Any apptica!ion ot �{A
<br /> the procetds to the principal shall not extend or pa�tpone the due date o(the monthly payments, whuh arc referred to m S
<br /> Paragraph 2,or change tfie amount of such payments. Any excess proceeds o�er an amount reqwreJ to pav aU i�ut�tanding m .
<br /> debtednt.ss under the Note and th�s 5ecunty Instrumen�chall he �.a�d t� the cnt��y iep.:illy rnht=ed �herc���
<br /> �. E'eea. Lender may eollect fees an�i rharge�authas��ed hy ihe Seccet.�r�
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