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<br /> � 90�--102�42
<br /> 1.PRymt�1 01 PNeclpal�Iotmst atd i.ate G�ys�e.Boitower shall pay�rhen dur ihe priucipal vP,and lntcrest�m.tl�e dcbt
<br /> evidenced by the NTate t�jid late chugce due under the Note.
<br /> � 2.Mo�tlty P�ywe�q ai Tase�,lastinsa��d OIAet CA�rtea. Borcower shall include In each manthly payment.tagether with
<br /> the pdrzciptl and interest a�set forth in tl�e Note s�nd Any late ch�r�es,an installment of any(a)taxes and special assessments
<br /> leviM c±r to 6e lsvied a��inst thc Propsrty,(h)te�sehold peyments or greund rents om the Proptny. and(c)premIums for
<br /> in�ur�ncc requirM by Pua�r�ph 4.
<br /> F.�ch monthty Installment for items(��. (b)ttnd(c�shall equaf one-twelfth of the annual amaunts,as reasonably estimatcd by
<br /> I.ender.plu�am m�ount sutflcient to milnttin an additlonal b�lance of aot mare than one-si�cth of the estimated amounts.The
<br /> full�nnua!unount for racA item shAll be accumuiated by Lender within a pedod ending one month brfora an item woutd
<br /> become deUnquent. Lender shaU hold the amounts sollected ln trust to pay items(a),(b)and(c)before they becor.ie deUnquent.
<br /> If it wny tlme the total of the p�y�nenta held by Lender for items(e),(b),aad(c), together with the futurc monthly payments
<br /> for such ltrms p�yable to Lender priar to the due dates of such items.exceeds by more than one-si�eth the estImated amount of
<br /> paymenb required to pay such items when due,and lf payments on the Nute are cunent,then Lender shall either refund the
<br /> eaces�over one-si�th af the estimated payments or crcdit the e�cess over one-si�th of the estlmated paymenta to subsequent
<br /> psyiaeata by Borrower, At the opdon of Bonower. (f the tatal of the payments made by Borrower for item(a).(b),or(c)ls
<br /> iasuftic�ent to pay the item when due,then Bonower shall pay ta Lender aay aanount nec�ssuyr to mnke up the de�cienc�r on or
<br /> befon the date the item becomes due.
<br /> A�used ie thia Security instrument,"Secretary”means the Secretary of Housing ansi Urban Development or E�is or her
<br /> desi�ee.Most Saurity Instn�menta insured by the Secrctary are insured undsr progams whie�require advance�ay�neat of the
<br /> entire murtgaRe insuraace premium. Ii this Socurity lnstrument is or was insured uader a pragram vvMvh did not require advance
<br /> psytnent of the enUre mortg�ge insurance premiu►n,thon each monthly payment shalt also inctude either;(�an installment of the
<br /> �anwl mortgage insura�ce premium to be paid by Lender to the Secretan. or(u)a month{y charge 3nstead of a mortgage
<br /> insur�ace premium if t1►is Secwlty Instrument is held by the Secrett�rry. Each monthly installment of the mortgage insurance
<br /> premium ahall be in an amount sufficient to accumultte the fuU annual mongage insurance premium with Lender one month
<br /> prior to the date the full annual mortgye insurance premlum is due to the Secretary.or if this Security lastrument is held by the
<br /> Secret�ry,ach monthly chuge shall be in an amount equal ta one•twelfth af one-half percent of the outstanding principal
<br /> b�lance due on the Note.
<br /> If Borrower tenders to l.ender the fuU payment of all sums secured by this Security lnstrument. Horrower's account shaU be
<br /> credited with the balince remaining for all instapments for items (a). (b) and (c)and any mongage insurance premium
<br /> installment that Lender h�s not become obli�ated to pay to the Secretary.and Lender ehali promptty refund any excess funds to
<br /> Bonower. lmmediately prior to a foralosure s�ie ai the Property or its acquisition by Lender. 6orrawer's account shall be
<br /> credited wlth any balAttce remaining for all installments for items(ay. (b)and(c).
<br /> 3.A�Ma�ao.ot Pay�e■ii.AU payments under paragraphs l and 2 shaU be applied by Lender as follows:
<br /> FIAST�to the mari�age insur�ncs premium to be paid by L.ender to the Secretery or to the monthly charge by the Secretary
<br /> lnstad of the monthly mort�a=e lnsur�nce premium,unleu Borrawer paid the entire mortgage insurance premium when th9s
<br /> Security Instrument wu si�ned;
<br /> SECOND,to any uxes,special asseuments� leasehold payments or ground rents. and fire,ilood and other hazard insurance ;
<br /> premiuma,a�required:
<br /> — ''' ° �t�issta:.�-t du�uadcr thc :1ot�: __
<br /> FOURTy.to unortization of the prlaciAal of the Note:
<br /> Fj$i3,to late charges due under the Note. :
<br /> 1.Fh+e.�lood�d Otl�er Huard Iss�n�ce.Borrower shall insure aA imDrovements on tha Property,whether now in existence K
<br /> or subsequeatly erccted.against any huuds,casualtia.and contingencies,inctudiag fire.for which Leader requlres insuranex.
<br /> This insurance sh�lt be maintained in the amounts and for the periods that I.ender requires. Bonower shall also insure all ';����
<br /> improvemeats on the Propeny,whecher now in existence or subsequently erccted.aga�hst toss by floods to the extent reqaired by ?
<br /> the Saretary.All insurance shaU lx carried with companies approved by Lender.The insurance policies and any renewals shall i
<br /> be held by Lendet and shaU include ios�payable cIauses in favor of,and in a form acceDtaDle to. l.ender.
<br /> In the event of loss.Boaower shdl give Lender immodiate notice by mail.Lender may make proof of lQSS if not made prompt-
<br /> ty by Bonower. Eacb iassusnce company concerned is hereby authoriud and dirated to make payrncnt Por such loss directly to
<br /> Lender.instead of to Boaower and to Lender jointly.All or any part of the insurance proceeds may be applied by Lender.at its ;�
<br /> ' option, either (a)to the reduction af thr indebtedness under the Note and this Security Instrument, first to any deGnquent
<br /> amounts applied in the order in Paragraph 3, and then to prepaymoat of principtl. or(b)to the restoration or repair of the
<br /> duna�ed property.Any application of the proceeds to the principal shall noi extend or postpone the due date of the monthly .�
<br /> payments which are referred to in Paragraph 2,or changt the amount of such payments.Any excess insurance proeeeds over an
<br /> tmount required to pay all outstanding indebtedness under the Note and this Secudty Instrument sha11 be paid to the,entity lega!•
<br /> ly entitled thereto.
<br /> In the event of foreclosure of this Seci�rity Instrument or other transfer of title to the Propeny that extinguishes the in-
<br /> debtedness,all right. tide and interest of Borrower in and to insurance policies in force shall pass to ihe purchaser.
<br /> S. Prcaervado�tad Md�te�aace of t6e Property,Leaxhold�. Borrower shalll not commit waste or destroy. damage or
<br /> subst�ntially chan�e the Property or allow the Propeny to deteriorate. reasonable wear and tear excepted. L,onder may inspect
<br /> the property if the propeny is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect aad
<br /> prexrve such vacant or abandoned propercy.If this Security instrument is on a teasehold,Bonower shali comply with the provi-
<br /> sions of the lease.lf Bonower acquira fee title to the Propeny. the teasehold and fee title shall not be merged unless[.ender
<br /> a�rea ta the merger in writing.
<br /> 6.qar�cs tQ Borrower tad Protecdo�uf I,eeder'a Ris�b ie tbe Property.Bonower shall pay all governmental or municipal
<br /> -- cl+.as�q, fsats�d ia±gositiom thet�•e noi +'ncl�!sit�is�P?•sg.*eph 2.E�nower sha!!pay th��obligations on t�me clirsctly to the
<br /> entity which is owed the payment.If failure to pay wouid adversely affect Lender's interest in the Propeny,upon Lender's re-
<br /> quest Borrower shall promptly furnish to Lender receipts evidencing these payments.
<br /> lf Botrower fails to make these paymenta or thr paymenu required by Patagtaph 1,or fails to perform any other covenants t�nd
<br /> agreements contstined in this Security Instrument,or there is a tegal proceeding that may significantly affect Lender's rights in �"�- -- `
<br /> the Property(such as a procading in bankruptcy,for condemnation or to entorce laws or regulations),then Lender may do and
<br /> — pa;wh�re:e�is .-�riessuy to p��ce.t c ie ra:uc o:th�nrop;rt;a�d Lend.r's r':gl:ts in the�:�per:��esscluding aa�m:n:ef tar,es,
<br /> hazard insurance arts�oiher items mentioned in Paragreph 2.
<br /> Any atnounts disbursed by tender under this Paragraph shall becume an ad�itional debt of Borrower and be secured by this
<br /> Security Instrument. These amounts shall bear interest from the date of disbussement,at the Note rate, and at the option of
<br /> Lender, shall be immedeately due a�td payable. t
<br /> 7.Conde�eatloe. The proceedsof anyaward or claim for damages,direct nr consequenual,in connection with any condem- �
<br /> �,_„ nationor other t2kitegof anypan of tt�e Psoper*_y,�r Eor conveyance in place of condemnation,are�:e�eby ascigne�and shall be
<br /> . paid to Lender to tDe catent of the full amount of i'::C�ndebtedness that remains unpa�d undcr�he ti�-�te and this Security Instru• M1
<br /> ment.Lender shallppply such proceeds to tP�e re�uction of the indebtedness ui�der the Note and this Sec�:ity Instrument.�rst ta r
<br /> any delinquent amoLnts ayplied in Ihe order prov�ded in Paragraph 3,and then :o pr�payment of pr�ncipal. Any applicat�on of �y
<br /> the proceeds ta the principal shall not tztend or postpor►e the due date uf the mvnthly payment5, whirh are referred ro in .s-f
<br /> __4 F'aragraph 2,or chHnge the amount of such payments.Any excess proceeds over an amount requirecl to pay all i�ut~tandmg�n• ,.
<br /> dehtedness unde•ihc Note and ihis �F<uri*_y In�trutnent �hal!be �aid to;he c:u:tr I.r.ally e:ititicd ;hcrctc�
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<br /> =°%; S. i'tes. I.ender may callect feeti ai:�l ch�arge�au[trorived hy the 5e�retary
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