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<br /> ' l.h��t af lei�etp�.I�tewi aw�1��.r�..�.,p�na;;.�;ah��y.uh�;�iue ih'r principal oi,�nd intercsi on,the deht
<br /> ovidrnced by the Nott�nd late chQrgn due under the N�te.
<br /> � ��M�w4�°�T+u�a�E�wrwce sNOtlerCar�es.Bono�cr sh�it inciude In each monthfy psyment,to�ether with
<br /> t!u prindptl�nd interest a�xt fortA in the Nnte and�tny late chu�ea..rtn lnstaUmrnt of any(�)axes�nd special assessmenta
<br /> i kvled or to be kvled y;iast the Property� (b)kauhold p�►�rme�ta or�reund renu on the Propeny� and (c3 Primiums for
<br /> ' insurance required by P�ra�raph 4.
<br /> ! 8aeh ruoatAlp iastalhnent far ltems(a�.(b)�nd(c)ahaii equal one•twelfth of ehe annual amounts.a9 reasanabiy stimated by
<br /> � LeAder�p1w w�aAOUnt�ufticie�t to m�ietdn�n sddltional balance of ttot more th�n one-sixth of tht atimated nmounta.The
<br /> ; full+umw!amount for each item sh,W be�ocumul�ted by Lender within a period endins one month betore an item would
<br /> I ba.bme dellnq�eat.l,maer�hW hold the a�eoun�a coUecced in uus<<o pay item:�a�,(b)and(c)before they become delinquent. �
<br /> � It at�ny ttine tl�e tota!of the paymenta held by Lender for item�(�).(b),and(c),tojether with[he future monthly payments
<br /> • � tw such lteau p�y�bk to Leader prior to the due datp of such itenu.exceais by more than one-siath the atimated�mount of
<br /> � D+Y��+reQujred to pay such itenu wrhea due,and if payments on the Nate are current,then Lender shaU either refund the
<br /> e�oe�ever oae-si�th of the atimated psyments or c�edit the eacess over one-si�th of the at3mated payments to suDsequent
<br /> p+�y�nenu by Horrower,at the opti�n of Borrower. lf the total of the payments mAde by Borrower for item(a).(b).or(c)is
<br /> i iawfficient to pay the item wheu due,then Borrower ahall pay to Lender aay waount necessary to make up the deficiency an or �
<br /> beforc the date the item beooma due.
<br /> i �wod in tbis Secudty Instrumeat, "Secretary" means the Secretuy of Housity and Urb�n Development or hls or der
<br /> ; �i��'�•1�•'h SaudtY instNtuenta iaswed by the Secretuy ue insured nnder pro�ams which require advance pa}rmrnt of the
<br /> ; eatire awttp�e imunu�ce prem�um,If thi,�Secudty Inmument is or waa in�wed under a prosrua whlch did not requlre advance
<br /> . j p�yment of the entirc mortpte insurance prcmlum,then each montdly psymrnt sh�ll also include either:(�an lnsullment of the
<br /> ���i+ii���na prcmium to be p�d by Lender to tbe Secretuy� or(I� �monthly chuge instead of a mon�e
<br /> .� _ � �nn�rat'_��i��ii��^w.�=.��N.��`��=j�aic'i�uy'u`�2.`��"a'iCiiuy. nacn monihiy insta�ment oi the mort�a�e insutana
<br /> ; P��sha111x in an amount sufficient ta�ocumukte the full�nnual mortgase insurance premiunr wItt�Lender one month
<br /> prior to the date the full�nwl mort��e insnrance pnmium ia due to the Secretary,or if this Security Iastsument i�heW by the
<br /> : Saxetary.each monthly chu�e shW be in an amount equal to one-twelfth of one-half penxent of the outstanding pdncip�l
<br /> ; ba4nce due on the Note.
<br /> , f 1f 8orrowrer tenders to Lender the full p�yment af all sums secured by this Securlty Inatrument.Bonower's account shall be
<br /> � endited with the bslance remain9ng for all installments for items (a), (b) and (c) and any mortgage insurance preminm
<br /> 1nstWmeet that Lender has not become obliQated to p�y to the Secretary.and Lcmder shall promptty refund any eacess funds ta
<br /> � Borto�rer. Immed3uely prior to a foreclosure sale of the Property or its acquisition by Lender, Borrower's axount shxll be
<br /> � crodited with�ny bdance remainin;for all instaUments for items(a),(b}and(c).
<br /> � 3.A�lie�do�oi lsy�p.A11 paymenta under pu�graphs J aad 2 shall be appGed by L.ender as follows: � ,
<br /> • EI84"l,to the mort�e insuraece premium to be p�ld by I.ender to the Secretary or to the monthly charge by the Secretary � � �
<br /> , instad of the monthly mort�e insurance premlwn,uNess Borrower paid the entire mongage insurance preml�un when this `�
<br /> _ 3ecurlty Instrument w�sitnod: _
<br /> � �.eo any tues.sPecla!assessmeats,leuehold . -__ _ ►:
<br /> � payairnts or graucri rents.and fire. floai and ot6er huard insuranee �—
<br /> P�+�i�au.as required;
<br /> �j$,Q�to interat due uader the Note;
<br /> FOURTH,to amortization of the principA!of the Notr, �,
<br /> �,to late chu�a due under the Note. �`+
<br /> � 4•Fhe+I��°°a asd Otber H��+d lrwra�oe.Borrower shall insure all improvements on the Property,whether now in e�istence —
<br /> � or subxqueatly encted,against any huud��casuWtia�and contingencies.including tire,for which Lender requira insurance.
<br /> , 1'�w insnrana shall be maintained In the amounta and for the periods that Lender requlres, Horrower shall also insure all
<br /> improvements on the Property,wbether now in existena or subsequendy erected,agiinst loss by floods to the extent required by
<br /> W�SecretuY•A11 insnrance shali 6e curiod with companies approved by I,ender.The insurance policies and any renewals shall
<br /> , be held by Lender and ahall inctude loss payabk clsusa in favor of,and ia a form acceptable to, Lender.
<br /> Ia the event of losc.Borrower shall give Lender immedlate notia by mail.Lender may make proof of toss if not made prompt-
<br /> ly by Borro�rer,Eac6 insurance company conceraod is hereby authorized and dlrected to make payment for such loss directly to
<br /> ; Lender.iastead of to Bonowa and to Lender jointty.All or aa�part of the insurana groeeeds may be applled by Lender.at iu
<br /> option. either(a) to the reduction of the indebtednest uadef the Note and this Sec�aicy Instrumrnt, fvst to any delInquent
<br /> � amounts appUed in the oMer in Paragraph 3, and then to prepayment of ptincipai,or(b)to the restoratIon or r air of the
<br /> � �t�P�oPMy.Any appUcation of the procads to the principal shaU not eatend or postpone the due date of t�he monthly '`r
<br /> ; P�Y��n�s whlch are referred to ia Paragmph 2,or change the amonnt of such p�yments.My exceas inswance proceeds over an ;�.�s^
<br /> +imount required to pay all ouuunding indebtedneu under the Note and this Secnrity Instrument shall be paid to the rntity legal- �f'�
<br /> f lY�utled thereto.
<br /> � ; In the event of foreclosure of this Security Instrument or other transfer of title to the Property that�tinguishes the in- �
<br /> . debtednes�.aU right.title and interest of Borrower in aad to iawrance poticies in force shal!pass to the punhaser. � -
<br /> s' p����0� � ����°� «proP�y+ Lea�c�oW�. Bonower shall not conunit wute or destroy, damage or
<br /> substantially chaage the Propeny or allow the Property to deteriorate.reasonable wear and tenr exoepted.Len�er may inspeci
<br /> � ihe prayaty if the prayuty is vacaat or abandoned or the loan is in defauii.i.ettdtr m�y i�ke reasonabte actlon tQ protect and
<br /> prcserve such vicant or abandoned property.If thls Sncurity Instrument is on a lws�hold�Borrowet shall comDly with the provi-
<br /> sions of the Iease. If Borrower acquires fa title to the Property.the leasehold and fa title shall not be merged unless Lender
<br /> a�'ees to the tnerger in writing.
<br /> i.C�ar�ea to Sorrower ud Protatb�ot Le�der's Ri�b i�tlK property.Borrower shall pay all governmental or municipal
<br /> , chuses.fines and impositions that are not included in Paragaph 2.Borrower shall pay these obligations on time directly to the
<br /> entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Propeny,upon Lender's re-
<br /> quest Horrower shall prompity furnish to Lendet receipts evidencing these payments.
<br /> lf Borrower 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 Instrument.or there is a legal procteding that may signiticanUy affect i.ender's rights in � � �
<br /> the Property(such as a proceeding in bankruptcy,for condemnation or to enforce laws or regulations).then Lende�may do and
<br /> pay whatever is necessaryr to ptotect the vatue of the Propeny and Lender's rights in the Property,including payment of taxes,
<br /> hecard insurance and other items mentioned in Paragraph 2.
<br /> Mf amounts disburstd by lender urtder this Peragraph shall become an additional debt of Borrower and be secured by this '
<br /> Security Instrumtni.These amounts shal!Iscar interest ftom the date of disbursement. at the Nute rate, and at the option of
<br /> Lender,shall be imm�iateiy duc and pa�able. �
<br /> L 7•Co�deatutbs.The procerds of any award or ctaim tor damages,ditect or consequential,in connection with any condem- �
<br /> nation or other taking of any part of the Property,or for conveyance in place of condemnation,are hereby assigned and shall be �t
<br /> paid to Lender to the extent of�hc fall amount of t}�e indebiedness that remains unpaid under the hote and this Security Instru- n•
<br /> ment.1 ende�shali apply sucl:pro.�eAs ta ihe reductia��u!Ei�e indeotedncss under the�'ote and thia Security Instrument, first ta ��
<br /> au�y delinquent amowits applied in the order provided in Paragraph 3,and then t�rrepayment oP pnncipal. Any applicat�on��f �
<br /> tht ptoceeds to!he principal shall not extend or postpone the due date of the mon�hly paymentc, «►�ich are referrcJ to in � �'
<br /> F'atagraph 2, ar change the amount of tiuch payments. Any excess proceedc n�er ars amount reyu�red tu pay all i.ui�tand�n�;m '-
<br /> debtedness uncler the hote�nd thiti S��urity Intitrument shall he p<ud to the ennt� IegaU�entitlecf theretu
<br /> a. Fers. I,ender may�colle�t fee� .ind charge+ aut6i,rireJ hy the tir.re��n
<br /> I'�.e. -•r a ' ...— _ ______- ._._ �_�
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