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<br /> . 1.M�ra�e�t ut Pri�ciql.I�te�wt u�i ta�M C��e.Borrower sh�l!psy when due the principai af.And interest on,thG debt
<br /> evklenced by the Note and late chu�es due under the Note.
<br /> t.��:�s�i..:�.:s:'!`-.r.:,:�:.::.:::��.:�.'��:a. �;.;o�e;aL:i!ia:�u�e ia�:;.b maa:hly g,:}n::at.tag:t��..�r s:�[t�
<br /> ; the pelndpal�ed interat as xt forth in the Note and any late chu�es.an inst�llment of any(�)tua�nd spsct�!wesament�
<br /> - ; kried or to be krkd apdrat the Propertr.tb)ka+ehoW psnnents w tmund rents oa ti►e Propeny. and(c)premiums for
<br /> lntw'lu�oe ro9aited bp Par�raph�. .
<br /> E�ck mottthly inqN�i for itans(�},(b)uW(c)sMli eqw!oae-t�rtlQh of the sssnual amaunu,as reasonaDly atimatcd Ey
<br /> Iwede��piw aa�mo�nt n�ttkieat to maintdn�a sdditlon�l b�nee of not marc than one-sixth of the estimated amaunta.The
<br /> ful!�aaWd aa�ount for acA itaa sb�ll be sccumulated by Londer within a peNod endinj one month before an item would ,
<br /> beCaoe delinquant.Lenda fhW hold the amount�colkcted in trwt to pay itrnu(a),(b)�nd(c)before th�ey beeome clelinquent.
<br /> ; I!at any t#me tbe total of the paymeaa heid by l.ender for itenu(a),(b).and(c).tosether wlth the future monthly p�yments
<br /> ; for wd�itam paYabk to Lenda�prior to tbe due dua of seuh itaaa,a�ceods by more than one-sixth the atimated�mount of
<br /> � p�ymmts roquirod to pay wch items whea due.�nd if paymenu on the Note ue cnrrent�then Lender shW elther refund the
<br /> , etew over oae-dztb of the ati�aated parmenU or ccedit tl�e euoa�over one-si�t6 of the admated paymena to subsequeat
<br /> � �t t p�ay the itan he���d �,�then Ho ower:hall pay to fLender�an�y�mo�bnecessary o make p the deP bicien�y oe or
<br /> � befoc+e tl�e date tho itaa beooma dtx.
<br /> � As wed in tbls Security Irutrument. "Secretary" maau the Secretuy of Housins aad Urban Development or his or her
<br /> � dadp�ee.Mat Socurity In�wmenta insured by the Sarc�tuy are inswed under projrams which requ9re adv�na paymrnt o!the
<br /> entire mottp�e iruwanoe prnaium.If this Security InYtr�ment ia or wu inswed under a pro�rua which did not require advuwe
<br /> payma�t of the eatir�e mortp�e�urance premium.theu each monthly paymeat shall alw include either:(7 ui installmrnT of the
<br /> • �onwl mortp�a iasuranoe pumium to be paid by Lender to the Secretary.or(u)a moathiy rhu�e instrasl of a monpje
<br /> iawrancs pnmium if thi�Security instrument is heW by the Secretary.Each monthly instalMent of the mort=qe iasur�nce
<br /> premium�ha11 be in an amount sufficieat to accumulate the full u�nual mort�e insuranoe premium with Lender oae month
<br /> priar to the date the full aanw!mor4�e insurance pcemium i�due to the Secrnary.or if this Security Instrnment i�held by the
<br /> Secretu�►.ea�moathty cl�srre shall be in sn amount equal to one-twelfth of one-hvf percent of the outatanding princip�l
<br /> b�nce due oa the Note.
<br /> ' If Borro�ver teadcrs to L.ender the full payment of all sums secured by this Security Instrumrnt.Horrower's account shill be
<br /> credlted �rith the Wlanoe remalni� for W installnKnes For items (a), (b) and (c)and any mort�e insuranca premium
<br /> inualtmeat tl�at Lender hu not become otiliptad to pay to the Secretary,�nd Lender aRalt promptly cefund any exce�funds to
<br /> Hartower.Immediateqr prior to a forecMsure sile of the Property or its acqulsltion by Lender. Borrower's account shill be
<br /> � credited�rlth any balance rem�nin�for all instaWnents for item�(a)�(b)and(c).
<br /> : 3. ot ta�1s.All paymtnts under pua�taphs 1 and 2�hall be applied by l.ender u follow�: •
<br /> .to the mort�a�e insurance premium to be pxid by Lende�to the Secretary or ta�t�e monthly chuse by the Secretary
<br /> . Lutad of the monthty monsa�e insurance premium,unlas Bn�rrower p�id the entlre mat=aje insuruue premium�hen this
<br /> Security Iau�vment w�sl�naf: . . =
<br /> $�Q.to�ay taaa.:pecia)assessments.laxhold piymena or ground«nts.and fire.flood and other haurd insuruice ti
<br /> ___
<br /> _ �.a�te�t�ies�; �.- -
<br /> _ gjjgQ.to iutereat due under the Note: ' - _
<br /> UR ,to�unortizatlon of the principal of the Note; �' -.
<br /> �,to late char�a due under the Note. —
<br /> 1.F6e.I�7�o�aN Ot�Hase�Ir�rMCt.Barrower sh�(1 insare all improvemenu on the Property.Khether now�in existence
<br /> , or wbKqueatly erected.a�ainat any hazards.casusltks.aad continsencia.includin�f�re.for which l.onder requires insur�na. .
<br /> . 'i'hu lapuu�oe sh�ll be matntained in the amounts and for the perioda that Lender reqe�ira. Borrower shall also lnsure all
<br /> improreaseaq on the Proputy.whether now In existena or subsoquently erected,asainst toss by tlood�to the eutent rcquued by -
<br /> the S�e��►.All insurana shall be curied with computirs aDproved by Lender.The insurana policies and any rawwais ahall
<br /> be held by Lender and shall include loss payabk clausa in favor of.and in a form acceptabk to, Lender.
<br /> ln the e+reat of loss,Borrow�a shaU`ive Lender immediate notice by mail.Lender may make proof of loss if not msde prompt-
<br /> • : l y by Bonower.Eseh iasurana eompany eoacerned is hereby Authoriud and d'uected to malce payment for such loss dicectly to
<br /> ' Lender,instead of to Horro�rer and to Le�ider jointly.AU or any put of the insurance proceeds may be applkd by Lender.st its
<br /> � option,either(a)to the roductioa of the indebtedncss under the Note and this Security Insuument.fint to any delinquent
<br /> ' amounts applied in the order in Fua�raph 3,and then to prepayment of principal.or(b)to the ratontion or repi'v of the
<br /> � dansa�M prupmy.Any�pplicatian of the proceeds to the principat shall aot extend or postpone the due date of the monthly
<br /> paymeacs which ue referred to in Puajraph 2.or chanse the amount of such p�yments.Aay eacess insatance proceed�dver�n •�
<br /> amount rsquired to pay all outsundinj indebtedaas un6er the Note and this Se�curity lnstrument shall bepaid to the entity tegal- :��
<br /> ly eat�tled therao.
<br /> In t1�e event of forr•la�ure of this Security Instrument or other tran�fer of tiUe to ttte Property tAat extinauisha cho in-
<br /> debtednw�all right,titk and interest of Borrowev in at�d to insurance policie�in force shal]piss to the purchaser.
<br /> S. tte�eeralb� aM MaWe�wee ot tlie Tra'erty, I.ea�eroiir. Borrower shall not commit wute or destroy, dunage or
<br /> substu►tially chst�e the Property or allow the Propeny ta deteriorate,re�sonable weu and twr oxcepted.l.onder may inspect
<br /> the propetty it the property is vacant or abandoned or th:loan is in default.Lender may take reasonable action to protect and
<br /> pre�esre such vacant or abandoned proptny.lf this Security Instrument ie on�leasehold.Bonower shall comply with the provi-
<br /> sians of ttx ics�x. tf$otrawer xquires fa tittt to the Propeny,[he leaschold and fer xittc shafl not be merged untess Lender
<br /> ytea to the mtr�er in writins.
<br /> �.C�ea to larowa ui Pro4atb�ot I.esder's Rl��u i�ttie Pw�erty.Borrow�er shall pay all govetnmental or municipal •
<br /> ch�rsa, fines and impositions that ue not included in Para�raph 2.Bonower shall psy these obligations on time directly to the
<br /> entity whkh is owM the payment. 1f failurt to psy would advsrsely affect Lrnder's interest in the Property,upon l.ender's re-
<br /> quest Borrower shW promptly furnish to Lender receipts evidrncing these payments.
<br /> if Borrower fails to make these payments oi the psymenis sequired by PatagnDh 2,or fails to pe�farm any other coven�nts and
<br /> ttreanents wntained in this Security tnstrument.or there is a te�l procading that may s�gnificantly affect Lender's rights in
<br /> the Praperty(such as a proceedin�in bankruptcy,for cor�dtmnttion or to enfarce laws or regulations►.then Lender may do and ' - --"--
<br /> pay whatever is necasuy to protect the valur of the Propeny and Lender's rights in the Propeny,itulud�ng payment of taues, �
<br /> hautd insurance and other items mentioRed in Paragr�ph t.
<br /> • Any amounts disbursed by lender unsier this Pata�rAph sh�ll become an add»ional debt of Borrav►er and be secured by this
<br /> Security Instrument. These amounts shall t►ear intcrest frort� the date of disbursement, at the yote rate, and at thc opt:on of
<br /> l.ender, sh�ll be immediately due and p�yable.
<br /> 7.CoMteatba.l'he proceeds of any award or claim for damages,dire�t or rnnseGuens�al,in ro�nechon�v�th any crndem• ��
<br /> t nation or othrr taking of any part o!the 1'roperty,or for con�eyance m s�lace of condemnat�on,a�e hrreby�assigned�nJ st-tall be
<br /> paid to Lender to thc tKtmt of the fuU umount of the indebtedness that�ema�ns iinpa�ci unQer the iVote and ihis Secunly 1 mtru� �
<br /> ment.Lender shall�pp1y such procerd?ro the teJucuon of the indebteriness under the Note and this 5ecunty In+�runseni,f i�st tu �„
<br /> any dclinquent amcsunts apatied in the i�rder prov�deJ�n Narngrc:ph 3,anJ chcn ti��rrrayment of nrmcip�l �1m�prluatson c�f �tp
<br /> the �+rM:pec�c tn �hr rr�ncipal ch:!41 r:ut e�te=ic! ur r!«tront !nc dur �±a!t �•f el�e ntvrtt+�lr ra;men!�_. �ah:_h :�r rc!:sres! su :n �
<br /> Putagr�ph 2,or char�Ee the an�oun:af�uch pay�n�ents Any e+�cess pruceeds�ner an amnunt reya�re.l rn�,�� .�rl��u�;+ands n��n �'-+�
<br /> debtrdnc�s under �he Nr�te and thic Sc..ur�ty Inar�srncnt �tial! hc paad 1��the c+iUt� lcqall� cn�itle�f rt�crci�_ •.
<br /> 8. Rts. (ende► in;iy tufle�t tec,nr�d .h:�rge�aulli.�rvci9 ht rtie tir�rria��,
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