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<br /> • l.h�t of lN�cIMl�[�tens�aad I,�te C��, gonower shal!p�y when due the princlpal oi, and interest on�tha debt
<br /> evidrnced by the NotG and late rhu�u due under the Note.
<br /> , _•Me�fW l�i7NaM e/T�,I�n�ee�i p�ler L'Mu�p.�Onower shRU include in each montlrly pagment�ta�tther with
<br /> tlie P+1nc�P�1 uK1 interat as set torth in the Nate xnd�ny Iate chu�E�.an in�tallment af�.ay(a)turs and 9pecial asaessmcnts
<br /> !e�'kd or tQ 6e levfed yain+t the Propa�tY. tb)k�sehold payn�enta vr p�ound renq an tha PtapertY. �nd(c)Premium�for
<br /> ���i�ed by Para�raph 4.
<br /> F..�cb monW�r tast�llment[or itert►�ta?.(b)aad(c)�al!eqwt!ose-tweifth of the tnnua!unaunt�.as reasonabty estimued by
<br /> i.ender.P�w�a amount sufticknt to maiatain an�dditional balanc�of not more th�n one-skth of the estinuted�mount�.The
<br /> , ful!�nnual amouat tor e�ch item ahall be ucumulated by Lender wit�in a period endins oae month before an item would
<br /> •. beoon+e detinqueat.Lender shall hold t!►e�mounta colkcted in trusc to psy items(�),(b)and(c)before they hecome deliaqurnt.
<br /> ll at+iu7 tlme the totai vf the payment�hdd by Lrnder for itenu(a).(b).�nd(c),tojether with the future tnoAthly payments
<br /> . for wch itan�p��rable to I,ender pdor to tbe due data of such Itema�eaceeds by more than one-sixth the estimated amount of'
<br /> Frl�►ts re4nired to pay such ltam�wrhen dye�and;f paymenta oa the NorC ue current,then l.ender ahall either nfund the
<br /> , : excat owx one-aiuth of the atimated pa�nents or cndit the exces�uver one-siath of the atim�ted paymertu to sub�equent
<br /> ; P�7�u�s M►Horro�rer,at the optiod of Borrowrcr. lf the total of the p�ymrnW mule by Borrower for item(a)�(b)�or(c)is
<br /> � im�ttiaiaat to pay the itan Mheo due.tlxe�Borrower ahall psy to Lender any unouet neceswy to make up the deficiency on or
<br /> betorc t6e date tde item baomp due.
<br /> � A+med 'w thia Savdty Irutn�ment, "Secretary�� me�ns the Secretary of Housins and Urbaa Development or hls or her
<br /> �'���ty I����S�d bY the Se�retuy arc inswed uader pro;ram�which require advsuce payment of the
<br /> eaNre mort�e insur+nce pcemium.It this Sccurity lostrument is or w�s tnsured under a proaram which did not require advance
<br /> � payaxae of u,e eatirc mur�p�e iasuraACe p;emium�thm qch mo�thly payment shall atso include either.(i)aa instaWnent of the
<br /> ' � �°��A��SUru�oe prcmium to be paid by Lender to the Socretary, or (1�a montlily chuge Instead of a mortg�e
<br /> ��P�um if this Security Instrument i�held by the Secretary,Lach monWly instWment of the mort�aae 9nsurance
<br /> : pcemium shW be in aa amonnt sufficient to aocumul�te tLe full uinual mort�e Insuraace premium wich 1rn.�sr��s r••�n=h
<br /> � F""'_"_•`•`�""�"�f�ii+W+jic+u mvri�Ye insuranoe premium is Gue to the Secretary,or if thls Securlty Insirument is held by the
<br /> . Secrctuy.ach moathty charje shaU be in an amount equal ta one-twelfth of one-half percent of the out�tanding princlp�l
<br /> balance due on tLe Note.
<br /> If BotroMer tendm to Lender the full payment of all sums secured by this Securlty IAStrument,Borrower's account shall be
<br /> '' a�Mita1 with the bal�nce rem� for all installmenta for items (a), (b) and (c) �nd any mongage Insurance premium
<br /> i installmrnt that L.e�hu not become obligated to pay to the Secrctuy�and Leader shall promptly refund any eaces�funds to
<br /> � Borru�rer• Immedlately prior to a foreclosure sale of the Property or its acqnisition by Lender, Borrower's account shall be
<br /> creditod w1W any b�lana remaining for all installments for itom�(a),(b)and(c).
<br /> 3.A o1 lq�eab.AU p�ymenu under paragr�pha 1 and 2 shall be applied by Lender aa follQS�s: �
<br /> ' ,to the mort�e insurance prcmlwn to be paid by Lender to the Secre '
<br /> f�tad of the monthl mort ts�ry or to the monthly c�arge by the Secretuy ;
<br /> y ����swancs P��um. nnless BorroA,er paid the ent9re mortgnge insurance premium whea this . , ;y;
<br /> Security Inst�neat wts sijned; ,
<br /> �,to any taap.special assessments,leasehold payments or ground rents.and fue.flood and other ha�ard insurance
<br /> a'emi»mf,as roQulred; �'-�
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<br /> •;,�.io imensi Que�AQEf t�C NOte; `�,
<br /> F'OURTH,to amorttzatioa of the principal of the Note;
<br /> F1�. to late chuges due under the Note. _
<br /> • �•����°°�a�d aYe*H�sard Iwea�ce.Borrower shall insure all improvements on the Property,whetlta now in e�dstence
<br /> . or subsequeetly aected,spinst aay ha�trdi,casuatdes�u�d�p�gencles�including fire.for wh9ch Lender requira insunaa. ,
<br /> T�S insurana shs11 be�aintainal in the amounts and for the periods that Lender requires. Boaower shall also insure all
<br /> improvemenb on the Property,whether now in existence or subsequeatly erected,agalnst loss by floc�ds to the extent required by �
<br /> tht Secrctary•All insurana shall be curied with companies appraved by Lender.The inswance policies and any tenewaLs shall
<br /> be held by Lender and shall include loss payable clauses ia favor of,and in a form�coeptable to.Lender.
<br /> � In the erent of los,t,Borrow,er shall�ive Leader immediate notia by msiil.I.ender may make proof of loss if not mado prompt-
<br /> ' �y by B01TO�•�h���mP�Y�narned is�ereby authorized and�irected to make payment for such loss d'ucctly to
<br /> ' l.ender.instad of to Borro�rer and to Lender joindy.AU or any part of the insurana proaeds msy be appGed by I.ender,at its
<br /> option�either(a) to the reductioa of the indebtodness under the Note and this Security Instrument, first to sny deliaquent
<br /> ���pppUod in the order ia Paragraph 3, and then to prepAyment of principal,or(b)to the restoradon or repair af the
<br /> , Perty.My application of tae proceeds to the principai shall not extend or postpons the due date of the monthly �..
<br /> . paymeats which ue referred co in Par�graph 2.or change the amount of such paym+enu.Any excess insnrana proceeds over an
<br /> j amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legal- ;��
<br /> � ly rntitkd thaeto. _
<br /> In the event of foreclosure of this Security Instrument or otha transfer of title to the Property that extinguisha the in- ' ,
<br /> debtednes�,W rishl,titk aad interest of Borrower in and to insurance poliries in force shall pass to the purchaser.
<br /> s' �e�tl°� u� 1��� of t� p��l'+.�a+el�oW�. Bonower shall not commit waste or demoy. damage or
<br /> snbstantially change the Property or allow the Property to dsteriorate.reasoaable wear and tear excepted.Lender may inspect
<br /> � the property if We property is vacant or abandoaed or the loan is in default.Lender may take reasonable action to protect aad
<br /> prcaerve sucb vae�tnt or abandoned property.If this Security Iaswmeat is on a leasehold,Borrower shall comply with the provi.
<br /> sioas of the ltase. If Botrowrr acquires■ee titte to the Property�the leasehold and fa titte shalt not be nierged untess Lender
<br /> � s�as to the merger in writing.
<br /> �6.CY�to aorrower aad Proteetlos a�Le�der'a RI�6ts i�tA�propert�,gonodver shaU pay all governmental or municipal
<br /> ut�s��es aad impositions that are nat included in Paragraph 2,gonower shall pay these obGgations on time directly to the
<br /> � entity whicL�is owed We payment.lf fiilury to pay would stdversely affest Lender's interest in the Property,upon Lender's re-
<br /> quest Boaower shall promptly furnish to Y,ender receipts evidencing these payrments.
<br /> If Boao�ver fails to make these payments or the Qayments required by Paragraph 2,or tails to perform any other covenants and
<br /> agrameats contained in this Security lnstrument,or there is a leg,al proceeding that may significandy affect Lender's rights in --
<br /> the Property(such as a procading in builwptcy.for condemnation or to enforce laws or regulations),then Lender may do and ' ^
<br /> pay whattver is necessary to protect tht value of the Propeny and Lender's righu in the Property.including payment of taxes,
<br /> huard iasurance and other items mendoned in PazagrapU Z,
<br /> �Y�fl�nts disbursed by lender undtr this Paragraph shall become an additional debt of Bonower and be secured by this •
<br /> Stcutity lnstrument.These amounts shall bear interat from the date of disbursement,at the Note rate, and at the opiion of
<br /> Lender,shall be immediately due and payable.
<br /> 7•Co�de��aQloa.The proceeds of any award or claim fot damages.disect or consequential.in connection with any condem- �
<br /> l nation or other taking of any part of the Propeny.or for conveyance in place of condemnation,are hereby assigned and shall be
<br /> paid to I.ender to the eatent af the full amount of the indebte�ness that remains unpaid under the Note and this 5ecurity Instru- `t
<br /> ment. Lender shall apply such procrtds to the reduction of the indebtedness under the Note and ihis Security Instrument,first to ~
<br /> any delinquent amounts applied in the order provided in Pazagaph 3,and then to r�e a
<br /> tph�proc;eeds to the ptiacigal shrJ1 not ezicnd ot P P Yment of principal.Any ap�lication i�f ���
<br /> r,ostpvne the dae date of the monthly payments. ahich are referred to in � °�'�.
<br /> agr'ph 2.or change the amoun�of such payments.Any excess paoceeds over an amount required to pay all outstanding in- i.
<br /> debtedness under the Nate and this Security Instrument shaU be paid to the enti[y legally entitied thereto.
<br /> 8. Fess. Lender may coilect fees and charges authorized by the Secretary.
<br /> Poge 2 oj a �
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