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<br /> 9a'"' 144235
<br /> � 1.l��nl ot Prl�cipl,I�teiaf wd I.�te CA�a Borrower shall pay when d►ce thc principal af.and interest on.the debt
<br /> evidenced by the Note and late char�es due under the Note.
<br /> . i.�.tar'`�i,traeis vi�'w�w.�r:�,��7 OiwrR"..;,�,ira.B�rrowG s+t�ti inc:ude iz:,::n monahly�y�m.nt,torcther r:ith
<br /> � ti�e princip+►)�nd i�tereat s�et iorlh in tiu Note Mnd any late ehar�,�n inst�liment of a�y(+�)t�xe��nd speci�l asxss�neni9
<br /> kviai or ta be levied yait�t the Prope�tr. (b}les�ehold paymrnt� or�round rents on the Property. and(c)premiums for
<br /> in�unnce requfred by PanjeaQA d. .
<br /> B�cb moalhly in�uUment tor itemi(�)�(b)and(c)�hall eqwl one•twelfth of the annua!amount�,�u rcuonably estimated Dy
<br /> ' t.ender�piw�n�mount sutficieat to maiatvn an additiona!bai�nce of not more than one•si�th o!the atimated amounts.The
<br /> fup�nw!�mount for ach itmn ahAl! be accumulated by Lender within a pertod endin=one month before sn item would
<br /> beoome deltnQuent.Leadar�hall hoW the amounts colkcted in tcust to pay Item�(a),(b)and(c)beforo they become deliaqueat.
<br /> ' It at�ny Wat the tM�l ot the psyma�b 6dd by Leader for item�(a).(b),�nd(c).tojether with the futurc monthiy p�yments
<br /> • for nrch itan�p�yabk to Lender prlor to the due data of sucb item�.�cads by more than one-siuth the atimated amount of
<br /> paya�eab requir�ed to p►y�uc1�itmu Mhea due,�tnd if paymenU on the Note ue current,then Lender shall etther refund tUe �
<br /> ; aocas over oae-duth o!the atimated paymeau or credit the eaoes� over one•��th of the atimated paymenta to subsequent
<br /> � paymenq by Bonowrer, �t the option of Horrower. If the total of the payment�made by Borrower for item(a)�(b),or(c)ls
<br /> ' iawfticJeat to p�y U�e ited�when due�then Borrower ahali pay to Lender�n�r amoum necasary to make up the deficieacy on or
<br /> � betore the d�te the iteen beconKa due.
<br /> � M wed ia thii Secudiy Inatrumeat. "Secretary" meu�a the Secretary o!'Housin�and Urbsn Development or his or her
<br /> , desip�ee.Mat Security Irutrumrnts insured by the Secretuy ue insured under prosrams which reqnire advance payment of the
<br /> eutirc mat�e i�urance premium.If this Security In�trument i�or was insured under�projrun vehich did not require�dvuwe
<br /> � p�rmeat of the entin mortp�e iasurance premium,then uct�monthly paymrnt ahall tlso iaclud�eitder:(i)an inataUment of the
<br /> • ; anaual mo�tpse lnwtaAOe pranium to be paid by Lender to the Secrctuy,or(ii)a monthly chuge 9nate�d of a mortgsse
<br /> --- i uu�iif'3ui�Es wt"ii�illif�t w.°n.�"ili:�Iiii�a^�f"rA'r �±�'t2C2 b•f��vw�`. �.S�it SfSC1ZQ�j�1aw�'�iT�t 3f La�it�arII"'y��i15'd:�.Sitit
<br /> � premium shdl be In an aawunt sufflcieat to accutpulue the fuU annua!mortEqe iasuraace premium with Lender one month
<br /> � prlor to tbe d�te the fuU annual mortpae insurana premium is due to tAe Secretuy,or iE this Security lnstrument Is hdd by the
<br /> ; Secretary. e�ch monthly char�e shall be in an amount equal to one-t�elfth of one-half percent of the outstandina princap�l
<br /> . ba4nce due on the Note.
<br /> ' If Horrower teadrn to Lrnder the full payment of all sums sxured by this Security Instrument,Borrower's account shall bc
<br /> ; credited �vith the baWjce remaiain� for all instWments for ttems (s). (b) and (c) stnd any monp�e insw�nce premium
<br /> , instalimeat th�t Lrnder hu not btcome obUgated to pay to the Secretary.and Lenda shall promptly refund an�r excas funds to
<br /> . Bortower. Immedlatdy prlor to a foreclosure s�le of the Property or its acqulsition by Lender. Horrower's account shall be
<br /> • credlted with wy bal�nce remdnin�for all installments for items(a),(b)and(c).
<br /> . 3.AlpYeatlo�oi tqr�b.All p�yments under pus�raphs 1 and 2 shW be applied by Lender�follows: � ' '
<br /> Elg$T,to the mortpae insuraua premium to be paid by Lender to the Secretary or to the monthly chuge by the Secretuy �
<br /> lnstad of tbe moatlily mort�e inswana premlum.unless Bonower paid the eatiro mortg�ge insw�aace premium ahen thls '°
<br /> Soturity Instrumrnt was sipted; i :`�-�
<br /> i SRCAND.tn anv tnrae;tneelal at�eccrrlen�c;lnvhnlrt na_lren�nta�r mn�,iy�rl�rnte�anrl fi.It.��Ni n�rl��w h_s�faT�l in4L*A_..!*f! _ .:- ! '
<br /> � PI'lt0iu�tR iS iCgnired: - - - ; _
<br /> �$Q, to interat due uader t6e Note; �
<br /> : �,to amortizatlon of the principal of the Note; r -
<br /> , to late char�es due under the Note.
<br /> , �.Ftre.FNN a�i Otl�er Has�d Iu�r�ee.Boaower shW insure ap imDrovementa on the Prope»y.whether now in existena
<br /> . or aub�equaidyerec��d,api�ost any h�zards,casnaldes,and contingencia,including fire,for which Lender reqnires inaurance.
<br /> 'Ibi+insunac�e shaU`tx m�tntained ia the amounts and for the periods that Leader requira. Borrower shall also insure all
<br /> + improvetnents on We Propaty,whether now in existmoe or subsequently erected�ag,ainst Ioss by ftoods to the exteat required by
<br /> the Secretary.All insurana shall be curied wIth mmpanles approved by Lender.The insurance policies and any renewals shall
<br /> � be held by Lender and shall inclnde loss payable clauses in favor of. and in a form acceptable to,Lender.
<br /> ln tLe ereat of lou,Boaowar shal)give Lender immediite nodce by mail.Lender msy make proof of toss if not made prompt-
<br /> � i ly by Horrowia.Euh inn..nr��mptny concerned is hereby authoriud and directed to make paymeat for such loss directly to �
<br /> Lender,instad of to Bonower and to Lender jointly.All or any part of the insurana praaeds may be applIed by Lender,at its
<br /> optlon.dther(a)to the reduction of the indebtedaess under the Note and this Security Instrument, first to any delinquent
<br /> . amount�applied in the order in Par�raph 3. and then to prepayment of principal,or (b)to the restontioa or repair of the
<br /> dan�ed property.Any application of the procceds to t4e principal sball not extrnd or postpone the due dste of the moathly
<br /> � psyments which are referred to in Paragraph 2.or change the amoant of such payments.Any excess insnrance proceeds o�er an -�
<br /> amouat required to piy sll outstanding iadebtedness nnder the Note and this Security Instrumeat shall be paid to the enticy tegal-
<br /> ly entitkd thereto. '.�:
<br /> � In the tvent of foreclosure of this Security Instrument or other transfer of titte to the Property that extinguishes the in- , '
<br /> debtedness, W right,tide and interast of Borrower in and to insurance policies in force shall pass to the purchaser. •
<br /> � 3. rnyenatlo�a�d Maitteu�ce of tle Property, I.eaeetioW�. Borrower shall not commit waste or destroy, damage or
<br /> , subsuntially chaoge the Properiy or altow the Property to deteriorate.reasonable wear and tear eacepted.Lender may inspect
<br /> the property if the property is vacant or abaadoned or the loan is in default.Lender may take reasonable action to protect and
<br /> . �rtlerve such vacaat os�haadoued ptopesty.If Lhis Sec�uity Iiastrument is an a lrasthold,Borrower shal!comply wiih tAe pravi-
<br /> aions of the lau.If Bo�rower acquira fa dtIe to the Property,the leasehold aad fa title shall not be merged unless Lender
<br /> � agras to the merger in wridag.
<br /> f.C��rsei to�orrower a�d Protecdon oi LeNer'a Ri�v ta t6e Property.Bonowet shall pay all guvemmental or municipal
<br /> chutes�finp And impositioas that ue not includtd in Paragraph 2.Borrower shall pay thae obligations on time directly to the
<br /> entity which is owed the payment. If failure to pay would advetsely affect Lender's interest in the Property,upon l,ender's re• �
<br /> quest Borrower shall ptomptly furnish to L.endsr receipts evidencing these payments.
<br /> lf Borrower fails to make these payments or the paymencs required by Paragraph 2, or faiis to perform any other covenanu and
<br /> � ageeements wntained in this Security Instrument,or there is a Iegal proceeding that may significantly affect l.ender's rights in ,--�-��__-_
<br /> the Property(such as a proaeding in bankruptcy,for condemnation or to enforce laws or regulations),then Lender may do and .
<br /> pay whatever is nocessary to protect the valne of the Propeny and i.ender's rights in the Property,including payment of taxes,
<br /> hazard insurance and other items mentioned in Paragraph 2.
<br /> Any amaunts disbursed by lender under this ParagraDh shall become an additioaal debt of Borrower and be secured by this �
<br /> Security Instrument. These amounts shall bear interest from the date of disbursEment, ai the Note rate,and at the option of
<br /> Lender,shall be imrnediately due and payable.
<br /> 7.Coide��tloa.The procads of any awazd or claim for damages.direct or conseyuential,in connection with any condem• �
<br /> L nation or other taking of any pazt of the Propeny,or for conveyance in p2ace of condemnation,are hereby assigned and shall be
<br /> paid to Ltndet to the extent uf the full amount of the indebtedness that remains unpaid under the Note and this Security Instru- �t
<br /> ment.Lender shall appty such proceeds to the reduction of the indebtedness under the Note and this Security Instrument,first to �
<br /> any deiinqutnt amounu applied i�the order provided in Paragraph 3,and then to prepayment of prin�ipal.Any application of ��
<br /> the praceeds to the principal shalt not eatend or postpone the due date of the monthly payments, which are referred to in � +
<br /> Paragraph z,or change the amount of such payments.Any exeess proceeds over an amount required to pay all outstanding in• �
<br /> debtedness undet the Note and this Security Instrument shall be paid to the entity legally cntitled thereto. "
<br /> 8.Fers. Lender may collect fees and charges authorized by the Secretar�•.
<br /> Pagc 1 oJ a �
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