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<br /> . 1. P��1 ot P�lecip�l�i��erc����d[.�te Ch�rse.BoRawer shal!pay when due the principa!of. and interest un, �hc dcbt
<br /> evide;ic-e.i ty tP»Nota aad ta.,charg;,s due under thr Notr.
<br /> 2.Mowl�ly P�sewts o�T�aa,fav�nece�ad Oi.Uer C�u�e�.Borrower shall include in each monthly payment,together wilh
<br /> r the pdnclpsl�nd intezat u set forth In the Note iend any ls�to charges.wn instaliment of any(a)tarces and special asseasm�nts
<br /> � kviod or to be levied ajdnst the Property. (b) leasehotd payment�or ground rents on the Propeny,and(c) premiums Por
<br /> lnsuranco required by Pua�raph 4.
<br /> 6ach monthiy instattmsnt for items(a),(b)and(c)sfisil equa!one•twetfth of the aanuat aunaunts,as re�sonably estimated by
<br /> Lender�plus�n amount auFGcient to malntedn an xddlt�onal balance of aot more than one-aixth of the estimated amounts.The
<br /> fUU annwtl unount for e�ch item ah�ll be accumulataf!�y 4ender within A period endine ane manth bGfa�o an item wauld
<br /> become delinqutnt.Lender sh�ll hold the xmounts coqectM in trust to p�y item�(a),(b)And(c)before they become dellnquent.
<br /> If at any time the totd of thc psymeats held by Lender for items(�),(b). and(c).together with the future monthly payments
<br /> for such ltems payabk to Lender prior to the due dates of such itema,exceeds by more than one-sixLlx 4he estimated amount of
<br /> paymenta required to pay sucA ice�s whrn dne.and if pay�uencs on the ttoce are curr�at,then Lender shal)either refund the
<br /> exoess over one-sixth of tLe eswnued paymeats or credit ¢h�excess over one-sixth of et�e estimated paymeats tcr s�ebseq,uent
<br /> poyments by Borrower.�t the QFti�r�x of Borrower. ]f the tota➢of the payments made bX L�u�ewer for item(a),(D?.or(c)is
<br /> inspffx�ient to psy the iteae whem�:�3r,chen Borrower shall pay to Lender am�r ri.�ount neor�.s.�•ce��ke r:p the deficiency c*,d�e '
<br /> before tl�o date the uce�c C�:.*a*es��e. ' � .
<br /> As t►�ed 'em tGns�•L�s��7�t„ �`�caeG�ru••means tht Sccretur}�}����s:rr8:�c3$;��x GD�Sd�i':aent vs Ctis�r, 1�es '
<br /> . des.�3 ��.@��sc��I�.�r�i-¢m�t:s c�.�r.,�£ag•tL•`��ecretarY�rr i rzsr�ecf a�d¢z 5�+;��wQici�ac�•�*C,�s�a��ucc p�sy�rr�cc w�tlte
<br /> � ent�Cd�.�:�.��t,�e i�c�cri�pretniurlr.i�cttis��ct.�ees Lz:strument is or was iRSU�ed cr:�der a program whic��:�not require advance
<br /> , paymeni oPthe entbce c�:tga�e insurance prem6¢m,then aich monthly paymettt sl�aA also include either;Q'an installment of the
<br /> annwl mort�age insucscice premium to be paid by Lender to the Secretw�y.or(il) a monthly charge instead of a mortgage
<br /> lnsur�nc3 premium if this Security Inatrument is held by the Secretary. Each monthly inst�ilment of the mortgage insuraace
<br /> preraiwa ahW be ln an unount sufflcient to accumul�►te the tl�l1 annual mortgage insurance premium wlth Lender one month
<br /> pdor to the date the full annual mort�age insurance premium is due to the Secretxry.or if this Security instrument is held by the
<br /> Secretary,eacd monthly cbu�e shall be in an amount equd ta one-twelfth of one-half percent of the outstanding principxl
<br /> baWue due on the Note.
<br /> lf Borrower tenders to Lender the iull psyment of ap sum�securM by this Security Instrument.Borrower's account shall be
<br /> credited with the balana remunin� for all instalimenta fa� itema (a)� (b)and (c) and any mort�+�e insurance premiam
<br /> installment that Lender has not become obllg�ted to piy to the Secret�ry,and Lender shall promptly refund any excas funds to
<br /> Borrower. Immedlately pdor to a foreclosure sale of tha Property or its acquisition by I.ender, Borrower'a account shall be
<br /> credited with any balance rem�inin�for aU installments Po� items(A). (b)and(c).
<br /> 3.AMMe�tb�ot Ps�rweds.AU psyments u�der puagraphs 1 and 2 shall be applied by Lender as follows: ' '
<br /> Ef$$T.to the mortgage insurana premium to be paid by Lender to the Secretary or to the monthly cAarge by the Secretary �
<br /> lnstead of the monthly mort��ge insurance premium,unless Bonower paid the entlre martgage insurance premium when this
<br /> Security lastrument wa�si�nod; '
<br /> SECONQ,to any wces,special assessments�teasehold payments or ground rents,and�re,tTood and other hazard insurance i
<br /> pretnlum�,u requlred; i
<br />. . �,�j,to iaterest dne under the'riote; —
<br /> FOURTH. to amortization of the principal of the Note: ,� �
<br /> - -- _ ��,io iate cnarjes dne under the ivoie. _
<br /> 1.F1r�,blood a�d ON�er Ra�rd Iwrarce.Bonower shall inswe all improvements on the Property,whether novv ia e�isteace _
<br /> or subsequently erected,against any hazards,casuatties,and contingencies. including fire, for which Lender requires inswance. `
<br /> This ituurance shall 6e maintained in the amoucbts and for the perIods that Lenda requires. Borrowa shall also insure all 'i°�
<br /> improvements on the Property,whether now in eAStence or subsequently erected.agaiast loss by floods to the eatent required by �'�
<br /> the Secretuy.All insurana sh�ll be carried with compania approved by Lender.The insurance policies and any renowals shall
<br /> be held by Leader and shall iwclude loss payable clauses in favor of,and in a form acceptable to,Lender.
<br /> In the event of loss,Hoaower shall�ive Lender imme�iace notice by mail. Lrader may make proof of loss if not made prompt-
<br /> ly by Borrower.Each inswana company concemed is hereby authorized aad'directed to make payment for such loss direcdy ta
<br /> Lendet,instead of to Borrower and to Lender jointly.All or any part of the insuranx proceeds may be applied by Leada�at its �
<br /> opdon, eitha(a)to the reductivn of the indebtednas under the Note sisd this Security lnstrumcpt, first to any delinquent
<br /> , �mounts applied in the ordtr in Paragraph 3,and then to prepayment of principal. or (b)to the restoration or repair of the �
<br /> dunaged property.Any appvcation of the procetds to the principal shaU not extend or postpone the due date of the monthly
<br /> paymenu which are referred to ln Paragraph 2.or change the amount of sucl�paymenu. Any eacess insuranct proceeds over an ;.,�
<br /> uaount required to Day all outstanding indebtednas under the Note and this Security Instrument shall be paid to the entity lega!-
<br /> ly entitled thereto.
<br /> In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the in-
<br /> debtednesa.all right�title and interest of Borrower ia and to insurance policies in torce shall pass to the purchaser.
<br /> S. Praenado�ud Maitte�a�ce ot the Property, I.easeiolds. 8onower shall not commit waste or destroy. damage or
<br /> substantially chaa�e the Property or allow the Property to deteriorate. reasonable wear and trar eacepted. Lender may inspect
<br /> the property if the property is vacant or abandoned or the l9an is in defiult.Lender may take reasonable action to protect and
<br /> preserve such vacant or abandoned property.If this Secwity Instrument is on a teasehotd.Borrower shall compty with the provi-
<br /> sions of the lease. If Borrower acquIres fee title to tne Property. the leasehold and fee citle shall not!�e merged unless Lender
<br /> , , a�ras to the merger in writing.
<br /> 6.Ci�es to 8orrower aad Protectioa of Le�der's tti�ib in t6e Propert�.Borrower shali pay ali govemmentai or municiDai
<br /> chuga.fines and impositions that are not included in Paragrsph 2.Borrower shall pay thae obligations on time directly to the
<br /> entity which is owed the payment. If failure to pay would adversely affect I.ender's interest in the Propeny,upon Lender's re-
<br /> quest Bottower shall promptly furnish to Lender receipts evidencing shese payments.
<br /> lf Bonower fails to make these payments or the payments required by Paragraph 2,or fails to perform any other covenants and
<br /> agreements contained in this Security Instrumcnt,or there is a legal proceeding that ms�y significantly afPcct Lender's rights in _ __ _ __
<br /> the Property(such as a procad9ng in bankruptcy,for condemnation or to enforce laws or regulations),then Lender may do and ' �
<br /> pay whartever is naxssaryr to protect the value of the Property and C,ender's rights in the Property,including payment of taxes,
<br /> hat,ard insurance and other items mentioned in Paragraph 2.
<br /> Any amounts disbvrsed by lender under this Paragraph shall become an additional debt of Borrower and be secured by this
<br /> Security InstTUment.These amounts shall bear i.nterest from the date of disbursement. at the Note ra:e,and at the option of
<br /> Lender, shali be immediately due and payabte.
<br /> 7.CoademnsUoe.The proceeds of any award or claim for damages,direct or conseqLen[ia1, in connection w�th any condem• �
<br /> L nation or other taking of any pazt of the Propeny,or for conveyance in plar�e bf condemnation,are heseby assigned and shall be � -
<br /> paid to l,ender to the eatent of the full amount o6 the indebtedness that e�ar.:sins unpaid under tite�c�e and this Security Instru- 4y.
<br /> menc.Lender sha11 apply such proceeds to the reduction of che indebtcdr.ess�nder thr Note and this Sec::riiy Instrument,first co r..
<br /> any delinquent amounts bpnliecl in the order provided in ParaFtra�h 3,and t hefl to preD3Yment of princ�Dal. Any application of tG
<br /> the proceeds to the principal shall not extend or postpone the due date of the mnnthly payments, which are referred to in ��7�
<br /> Faragraph 2. ot change the amounl of such payments.Any excess proceeds over an amount required to pay all outttanding in- • �
<br /> dtbtedness under the Note and this Security lnsuument shall be paid to the entsty legally cntitled thereto. �• �
<br /> b. F'tes.I.ender may collect fee�and charges author�red by the Se:re►ary.
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