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<br /> ' i.raJ�:otF:.:::�al�I::ec�;:op�L.:ia�pr�e.Cu;row::sh�ll p:��:hrn du�tht pr.ncipa! �t,:a�d inter:st on,thr deti:
<br /> evidrnced by the Noto and lue ch�r�es due under tAe Nate.
<br /> � �.f1�o�Uy!'qw�b oR?aaa.f�nu�c�ui�tier Cluu�a.Borrower shaU include in e�ch mpnthly paymsnt.to�ether with
<br /> the prInci�l and lnterest a�aet tonh in the Note and�ny late char�a.an installment of Rny(�)taxes and special uxssments
<br /> lerk4 or tn be kvied yaiast the Property,(b)fqsehold psymmu or�round rcat�on the Property�and(c)premiums ior
<br /> teuuranct raquired by Puajraph 4.
<br /> Bad�nwnthly Instaihixnt for ltems(�).(b)��d(c)ahaU equal one-twelfth of the annual ar�counu,�s reuonably estimated by
<br /> Lender.piw�n�a►ount sutficieat to rt►alnuin an addltional bdance of not more th�n one-sixth of the estimated am�ounta.The
<br /> inll aanwil�mouat for p�ch item sh�Q be aiccumubted by Leader within�perlod endins one manth before an item would
<br /> become ddinqueat. Lrnder�hsll hoid the amounts collected in uust to pay items(a).(b)and(c)before thty become dellnquent.
<br /> ' If at a�ry time the totd of the paymenu held by Leader for items(e).(b).and(c).totether with the future monthty paymeats
<br /> - for weh iteas pyabk to Lrnder prior to the due data of auch items,eucads by more thw one•siath the atimxted amount of
<br /> paymeab caquind to pay such items when dae.and if psymmt�on the Note ue cnnent. then L.ender ahall eitha refuad the
<br /> � a�a�over w�e-sixtli of tbe estlm�ted poyment�or credit the excess over one-�iuth of the atimated psyments to subsequent
<br /> i paymenta by Bortowrer, at the ogtton of Horrowrcr,lf the tota!of the paymeat�made by Hosrower for item(a),(b),or(c)is
<br /> iawificla�t to psy the Item when due.then Borrower ahaU pay to Lender any amount aecessary to m�lce up the deficieacy on or
<br /> before tLe dau the item baoma due.
<br /> � As u�ed ia this Security inrir�meat, "Secrebury"ma�n�the Secretuy of Housin�and UrMn Aevelopment or his or her
<br /> � de�na.Most Savriry Iastnunents insured by the Secretuy ue insured uader pro�rams which reqnire advance payment of the
<br /> ' eadre mortpt�e iasurance premium.If this Security Instrument is or wu inswed under a program whicb cUd aot requtre xdvance
<br /> , I paytaeat of the endre mort�e lnsunna premium,then euh monthly payment shW also lnclude either:(�an insuliment of the
<br /> � aanwl mort�e inswance promium to be paid by Lender to the Secretary, or(ii)a monthly ch�r�e instead af a mortg�ge
<br /> 'ui3u�an�piGtiaiuin ii ibis Sa.-urity Insirumeni is netd'uy tne Secret j�e inSUianCe
<br /> � ary. r�ch mon�ly inscailmem or the mort
<br /> y pranium sh�ll be in aa amount suffictent to�ccumulxte the fuU annual mortgage insunwce pranium with Lender one month
<br /> prlor to the date the full umual mortsKe insurance premium is due to the Secretuy.or if this Security Instrument is held by the
<br /> � Secretary.each monthly cbuge shaU be in aa amount equal to one-twelfth of oae-half percent of the outstanding principal
<br /> bal�na due on the Note.
<br /> � If Borro�er teaden to I.eader the full psymrnt of�11 sums secured by thls Security Instrument, Borrower's�ccount shaU be
<br /> � credited wlth the balance nmaining for all installments for items (a). (b) and (c) and any mortgage lnsurance premium
<br /> ; instWment chxt Lender has not become obUgated to psiy to ths Secretary,and Lender shsll promptly refund swy eacas funds to
<br /> Bocrower. Immediatdy prlor to a forxlosure sale of the Proper[y or iu acquisition by Lender. Borrower's acrnunt shall be
<br /> � credited.rith any balu�ce remaining for all Installments for items(a).(b)u►d(c).
<br /> ! - •
<br />� ; 3.A�Yeatlw ot lyae�b.All payments under pu�graphs 1 and 2 shaU be applied by Lender as follows:
<br /> � �,to the mortiase i�suian�ce premium to be p�id by Lender to the Secretary or to the montlily charae by the Secretuy ' ,
<br /> � Instad of the monthly mort�insurance premium,unlas Borrower paid the enwe mortgage insurance premium when this �
<br /> ^-- -••--- -• • , .
<br /> -1 �u.-�in�r ansuunxai was s��ut�; r
<br /> � ���,to�ay tues,spaial assessments.leasehold payments or ground rrnu.and fire,flood and other hazard insurance
<br /> � praaiuma.u requir�d; �- _
<br /> THIRD,to interat dut under the Note; t�-
<br /> F_ OU HT ,to�mortiution of the prIncipal of the Note;
<br /> � �,to late chutes due under the Note. 't
<br /> �.Fire,F7ood ua M�er Haz�ed Iwra�ce.B�xrower shall insure all improvements on the Proprrty,whether now in eaistence '
<br /> , ; or subsequently erccted.against any huards,casualdes.and condngencies,including fire,for which Lender roquires insarance.
<br /> � Thi�insuranoe sh�ll be maintained in the amounts and for the periods that L.eader requires.Borrower shall also insure all "
<br /> � improvements on the Propetty,vrhether now in existena or subsequently erected,against loss by tloods to the eateat required by
<br /> ' the Sxretary,r4U insurance shail6e carried with companies approved by Lender.The insurana policies and any renewals shall
<br /> � be 6dd by Ltnder and shall incIude loss payable clauses in favor of.and in a form acceptable to,Lender.
<br /> � In We event of lass,Borro�er shall give L.�nder immediate notice by ccaiI.Lender may make proof of loss if not made prompt-
<br /> � ly by BorroMer.Fach insurance company concernod is 6ereby authorized and d'uected to make payment for such lau diraKiy to
<br /> , l.ender,instad of to Borrower and to Lender jointly.All or any part of the insurance proceeds may be applied by Leader,at iu
<br /> optlon� ather (a)to the reduction of the indebtednas under the Note and this Security Instrument. first to any ddinquent
<br /> unounta appliod!n the ordet in Puagraph 3, and thea to prepayment of principal,or(b)to the restoration or repair of the
<br /> , damaged property. Any applicadon of the proceeds to the principal sha[i not e�ctend or postpone the due date of the monthly -
<br /> � payments which arc referred to in Paragraph 2,or change the amount of such payments.Any exass insuraace proceeds over aa
<br /> amouat required to pay all outstanding indebtedness under the Note and this Securiry Ins[rument shall be paid to the entity legal- ��
<br /> � iy eatltled therao.
<br /> In the event of foreclosnre of this Sccwity Instrumcnt or other trausfer of tide to the Property that extinguishhes the in- •
<br /> debtedness,W rlght,dtIe and interest of Bonower in and to insurance golicies in force shall pass to the purchaser.
<br /> S. Praenatlw ui M�i�teaa�ee of t�e Property. I.eau�olds. Borrower shall not wmmit waste or dcstroy, damage or
<br /> , substantially change the Property or aJow the Pro�erty to dettriarate,reasonable wear and tear�crpted. Lender may inspect
<br /> the praperty if the propercy is vacant or abandoned or the loan is!n default. i.ender may take reasonable actlon to protoct and
<br /> pre�erve such vac�nt or abandonod property.If this Security Instrument is on a leasehold,Bonower shall compiy with the provi-
<br /> sion�of the lease.If Borrower acquires fee title to the Property.the lea�ehold and fa dtle shull not be merged unless Lender
<br /> agrees to the merger in wridng.
<br /> 6.Cia��to aorrowet aed ProtecUo�ot Le�der'�Rltkta im We Property.Bonowcr shall pay all govemmental or municipal
<br /> chartes,fina and impositions that are not included in Paragraph 2.Borrower shall pay these obGgations on time directiy to the
<br /> entity which is owed the payment. if failure to pay would adverseiy affect Lender's interat in the Property,upan Lender's re-
<br /> quest Bonower shall promptiy furnish to Lender«ceipts evldencing these payments.
<br /> lf Bonawer fails tn make these payments or the paymenu required by Paragraph 2,or fails to perform any other covenants and
<br /> agreements contained in this Security Instrument.or there is a Iegal proceeding that may significantly affect Lender's righis in �`-�--
<br /> tht Property(sueh as a proaeding in banicruptcy,for condemnation or to enfarce laws or regulations),then Lendtr may do and '
<br /> pay whatever is necessary to protect the value of the Properiy and Lender's rights in the Prcrperty. including payment of taxes,
<br /> hazard insutance and other items menlioned in Pazagraph 2.
<br /> My amounts disbursetl by Itnder under this Paragraph shall become an additional debt o6$arrower and be secured by this �
<br /> Stcurity Instrument.Thest amauats shall bear interest from the date of disbursement. at the Note rate,and at the option of
<br /> Lender, shall bs immediacely due and payable. «�
<br /> � 7.Co�dea�sado�.The ptocteds of any awa�d ot elaim for damages,direct or consequential.in connection with any condem- �'
<br /> nation ot other taking of any part of the Propeny.or for canveyance in place of condemnation.are hereby assigned and shall bc �
<br /> paid to Lender to the extent of the fuil amount of the indehtedness that remainc unpaid i�nder the T��te and this Security Instr�- ���
<br /> otent.Lender shall apply such proceeds to the reduction of the indebte�iness under the Note and this Security Instrument.Frst to
<br /> any delinquent amounis applied in the ordec provided in Paragraph 3,and then to prepayment of principai. A�y application of t�A�
<br /> tht ptocrds ta the principal shall not extend or postpone the due datP of the monthly payments, which are refcrred to in , .�
<br /> Paragraph 2,or ehange the amount of such payments. Any excess proceeds oter an amount required to pay aU uut5tandmg m• ,..
<br /> debtedness under the Note and this Security Instrument shall bc paid to tl�c enuty legafly entitled thereto.
<br /> 8.Fets. l.ender may ca.lcct fees arul charges autlioNred by the�e�retary.
<br /> !'�ge 1��1 a _�
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