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<br /> . 1.ra��!o!P�la..-;�Stl.tatrtrst�a�Late Cd�:�e. IZor�.�wer;i►ali pAy�i�ct�itur Ihr principal af, and intcrest on, thc deht
<br /> ceidencaf by the Note wnd lote char�es due undee the Note.
<br /> � 2.MoU�hy�eel�of Taae�.In�rs�ce��d Ot�er C\er=a.B�rtower shall dnclude i�cach monthly paymem.together with
<br /> � the prindpal and interat u set fonh in the Note and any lat�char�es,an in�te!l:nrnt aP�ny(a)taxes and special a�sessmcntc
<br /> It��tai or to be kvkrl �dn�t the Property. (b)teuehold payments or �round renta on thc Property, and(c)prcmtums for
<br /> Insuranco ecQuBred Dy Pus=wph 4.
<br /> Euh monthly installnxnt for Itams(a)�(b)and(c)shali equal one-twelfth of the annu�l amounis,as reasonabfy estimated by
<br /> Lendtr�p(w m amount sufficlent to maintain�n addttipn�������Qf not more tha►n ane-sutA of the estimatcd amounts.The
<br /> fu!!�nnwi �mounl for ach item sha0 be accumulated by l.ender within a pertod ending one month befare u� itcm would
<br /> become delinpuent.Lender ahall hold the�mounts collected iA trust to pay itein�(e).(b)an�(c)before thcy become deiinqurn�.
<br /> If a�t�ny tlme the tot�l of the paymcnts heW by Lender for items(a),(b)�and(c).together wlth the future monthly pnyments
<br /> for auci�Item�payable to Leader pdor to the due d�tes of such items,eaceeds by more than one-sixth the estim�ted�mount of
<br /> paymenu required to pay such item�whe�due,and if payments on the Note ue current, then Leader sh�ll either refund ehe
<br /> exces+ over one-siath of the estimatEd payments or credit the eacess over one-sixth of the�stimated ps�yments ta subsequertt
<br /> p�ymenU by Borrower,u the option of Borrower. If'the total of the payments made by Bortower for item(a)� (b),or(c)is
<br /> insufP�ekat to pay the item�rhen due.then Borrower shall pay to Lender any amount nec�ssary to make up the deficiency on or
<br /> before the date the item becomes due.
<br /> A� uscd in this Secu�ity InsuumeAt. "Secretary"means the Secretary of Housing and Urban Development or his or her
<br /> desijnee.Most Secudty Instruments insured by the Secret�ry are lnsured under programs which require advance payment of the
<br /> enttre mat�e insunnce premium.If thls Sceurlty Insirument is or was insured under a prograrte n�hich did aot require advance
<br /> payment of the eatire monaage insurance premium,then each monthly paymtnt shall also includo either:(i)an instaliment of the
<br /> ' u�nual mortyue insuranee premium to be paid by Lender to the Secretary. or(i7 a monthly charge instead of a mortgage
<br /> insurance premium 9f thi�Security lnstrument is held by the Secretary. Each monthly installment of the mongage insurance
<br /> prcmlum shall be in a�uaount sufficient to accumulate the fuU annual mongage insurance prcm9um with Lender one manth
<br /> prior to the d�te the full annual mortgage insurance prcmium is due to the Secretary.or if this Security lnstrvantnt is held by thc
<br /> Secretary,each monthly charge shaU be in an amouat equal to or±�•twelfth of one-hali perceQt of the ouistanding principal
<br /> balance due on the Note.
<br /> If Bonower tenders to Lender the fult payment of a11 sums secured by this Security Instrument,Borrower's account shall be
<br /> etedited wlth the b�lana remaining for all installments for items (a). (b) and (c) and any mongage lnsurance premium
<br /> instaliment thdt Lender has not become obiigated to pay to the Secretary.and Lender shall promptly refund any excess funds to
<br /> Bonower.Immed3ately priQr to a foreclosure sale of the Property or its acquisition by Lendrr. Borrower's account shall be
<br /> � credited wIth any balance remain�ng for a0t installments for items(a),(b)arid(c1.
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<br /> 3.Ap�i{catio�ot Ps�neels,All payments under paragraphs 1 and 2 shall be applied by Lender as follows:
<br /> �]$$S,to the mortgs�ge insurance premium to be paid by Lender to the Secrttary ar to the monthly charge by the Secretary
<br /> ipsEead of the monthly mortgage insurance premium,tcnitss Borrower paid the entire moRtgage insurance Fremium when this •
<br /> Secudty lnstrument was sianed;
<br /> SECOND,to any taxts,special assessments,leazehold payments or ground rents,and fire,fload and other hazard inswance ..��_..'
<br /> prc:iuwau,as requirtti: - .
<br /> 'THiRp,to iaterest due under the Note; j '
<br /> - _-. FAitI� �f4�.C. ¢�• C.^.�:i::.�t�r.�j,:;v';i ic i�uir; -
<br /> �,to late ch�rge�due under the Note. _
<br /> ••Fine+Flow aM!ONur Huard Iuara�ce.Borrower shall insure all improvements on the Property.whether now i�e�cistence
<br /> or subsequeatIy erected, �g�inst aay hazards,casualties.and contingencies,including fire,fbr which Lender reguires insurance.
<br /> This insw�ncr shall be maintained in the amounts and for the periods that Lender requires.Borrowa shaU also insure all �?—
<br /> improvements on the Proper[y,whether now in existence or subsequently erected.against loss by Qoods to ihe extent required by
<br /> � the Secretuy.All insurana shall be carried with companies approved by Lender.The insurance policies and any renewals shall
<br /> be Qeld by Lender xnd shaU include loss payable ciauses in favor of.and in a form acceptable to, Lender.
<br /> � In the event of loss,Borrowor shali give Lender immediate notice by mail.Lender may make proof of loss if not made prompt-
<br /> ly by Borrower.Each insurance company concernM is hereby authorized and directed to make pavrnent for such toss directly to
<br /> Lender� instdd of to Bonower and to Lender jointly.All or any part of the insurance proceeds may be applied by Lender,at its
<br /> option� either(s) to the redexction of the indebtedness under the Note and this Security Instrument. first to any delinquent
<br /> amounts�pplied in the ordea in Paragraph 3. and then to prepayment af principal. or(b) to the ratotation or repair of the
<br /> • dama8ed property.Any apptication of the procads to the principat shall not extend or postpoae the due date of the monthly
<br /> : payments which are rcferred to in Paragraph 2.or change the amounc af such payments.Any eacess insurance proceeds over an ;:�f
<br /> amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legal-
<br /> ty entitlod thereto. -�
<br /> In the event of forectosure of th}s Sccurity lnstrument or other transfer of titte to the Property that extinguishes the in- �
<br /> debtedness,all right,titte aad interat af Borrower in and to insurance policies irt force shall pass to the purchaser.
<br /> . S. Prrsenatio� ud M�te�aace ot tie Property� I,eaae6olds. Borrower sha�l not commit waste or destroy, damage or
<br /> substantially chtnge the Property or allow the Property to deteriorate,reasonable�:ear and tear excepted. Lender may inspect
<br /> the propeny if the propeny is vaeant or abandorted or ti:e toan ls in detault.Lender may take reasonable acci�n to protect and
<br /> preserve such v�cant or abandoaed property.lf this Seccerity Instrument is on a leasehold,Bonower shall comgly with the provi-
<br /> sions of the lease. If Borrower acquires fee title to the Property,the Ieasehold and fce title shall not be merged uniess Lender
<br /> agrea to the merger in writing.
<br /> �.Cltar=es to sorroMer ud protectlo�of Le�dcr•�Rls6ts is tre property,garrawer shall pay a11 governmental or municipal
<br /> charges, fines and impositions that are not included in Paragraph 2.Sorrower shall pay these obtigations on cim�directly to t.he
<br /> entity which is owed the paytnent. If failure to pay wouid adversely affect Lender's interest in the Property�upon Lender's re-
<br /> quest Bonowet shall promptly furnish to Lender receipts evid=ncing these payments.
<br /> lf$orrowet fails to make these paymenu or the payments required by Paragraph 2.ar fails to perform any other covenants and
<br /> a;rreementscontained in this Seeurity Instrument,or there is a lcgal procceding that may significantly aff�ct Lender's rights in � T
<br /> the Ptopetty(suc�as a proeeeding in bankruptcy.for condemnation or to enforce laws or reg�lations),then I,ender maydo and
<br /> p�y whatever is necesssary to protect the value of the Property and Lendcr's rights in the Prvpeny, including payment oF taxes.
<br /> huard insurance and other items menlioned in Para�raph 2.
<br /> Any arnounu disbursed by lender uader this Paragraph shal! become an additional debt of Borrower and be secured by this
<br /> Security lnstcument. These amounts shall bear interest from the date of disbursement,at the Note rate,and at the option of
<br /> Lender.shall be immediately due and payable.
<br /> 1. Co�der�atlue.The ptoceeds of any award or claim for damages�direct or consequential,in connectipn aith any condem• �
<br /> � nation or otAer taking of any part of the Property.or for conveyance in place of condemnation,are hereby assigned and shalt be �
<br /> paid to Lcnder to the extent of the full amount oy the indebicdness that remains unpaid under the Note and t his Secur�t}•Instru- 1�
<br /> 't:�*-.�..�q�er>h�,'Z apply such pro�2tds�o thcPreciu�tivn vf ii�c indebtedness unOet the Note artd this Security In�trurnent,firse tv ���
<br /> un delin uend amoums applied in the ordc� ro�7ded in Paragraph 3,and then to prepaymc:�t of pnnr�pal. Anr appl�cauon c�f
<br /> the proceeds to the principal shall not extend ot postponL the due date vf tl�c monthly payment., µhich arc reterred t� �n ±
<br /> Paragraph 2,�r change tine amount of surh payments.Any exress proceeds o�er an amourn rey��re�J i��,ay ,sti„�,,.�:�n,��r�g ,u ••
<br /> deAtednr��uRdcr[nc No.e and , •�s lecurity Instrument shall he paid to the cnuty Ice.all> e�:t��led�hcret��
<br />' S. Fees. ler�der rnay c�:lle�t feer �nd chargrs au�h�.nred by the Secretar�
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