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<br /> < < . . � L h�eat o��Yet�d,Lte�st.ui I.ste Cl�e Bs�aawer s6W pay when due tha pdncipai of.anQ interest on.the debt . • _
<br /> � e�idenced by the Note and-late clvrjes dne undd che Note. , � � �
<br /> � � .•Z.Ma�il�e�b ai T�ss,Lwt�oe a�i Otier Cipie�es.Borrowar shall inciude in eash moatht5►Dryment,to�etder wtth .
<br /> -,.t��_ tbe pcit�ipd aad interest as set t'ortb in the Note aad anq�t�te chu�a,aa instaflment of nnY(ay taxes and sDac�l�sessments � .
<br /> 1 ' . � kwied os w be�kd.iy�st the Propertv.(b?le�td�atd�p�yma�t�or guuad cmts on the ProDertY.�nd{c)premiums fot � - - - `.� `: -- - - -
<br /> t<�T'- L�sar�nce r'e9u�re�t►Y P�arx�raPb 4• ' _ ' ' , " .
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<br /> F�cb n�ant�'#�taumant�arr items ta}.(b)�nd Ec)shaU eqwi bae-twelRh ot the Annuat amounts.as reasonabiy escimated by .. . :=;;;;?;,_: �_: ._ . .
<br /> � . �.ender,�lus an amount suff�eat to mainta�a an additional balan�x of not mon tlua one-sixth of the atimaied amounts.The . .
<br /> F faU mna�amouot for a�:apem�hali be accumulttal by Leader.vithin:paiod etsdtnt oae montlt before aa itan wouid � - �•.. �
<br /> ; be�oare del�9aeat.Leader ahall��atd the amaant�collecteif iatr�t to pay items(s}�tb)and(cl before they bocome delinquent. °, .
<br /> • _ : If at atiT w�e tbe tOtal of thegay�ents held by Lender for itansE$).(b).and(c).to8ether with the future montlilY DsY�m� � :�.;,:;<, , .
<br /> '' . f�s�iumu P�7�m I�prtor to she dne d�tes of such tums,aiceeds by maa tb�a one-sistA t4e eatimuod uaonnt of .'i:::=.� , .
<br /> :%%:'� payaspats reqnired W pay sttch iiems wben dne�and if paymems on the Note are current,thm Lei�der s�a1!°dther refund the ` ,
<br /> ` . . ,a�ca�+over one-aixth af the s�satcd pay�aents or credit the e�oceas orer o�e-siath of the e�tiauted paymenu ce subsequrnt,
<br /> • D�Y�u�Y�p�.u the option of Sorrower•If tbe tolal of tht payments m�de by Horra�a for item EQ).(6),or(c)is
<br /> � � iasufficia►t.to pt�t�ivat t�rhat dus�thea Borrower sDall piy to Lender any imount naxssary to make up the defidtncy on or : . ' .
<br /> . 6efae the date the item beco�tus due. ' �
<br /> � As used ia this Secvritg Iasisumeat,"Secretary„meaas the Seccetuy of Howing and Urbna Developrgrnt ar his ar her :�``::;,�
<br /> ; dtsi�aer,Most Security i�ts iss�sred by the SccretAry are insured under projriuns�hich requirc�dvAnce paXment of the , � '
<br /> entire mat�e ins�ranaepraeinm:If tiiis Sacarity Instmmeat is or was ia�and under a progrun vrhicb dld not rcquire tdvance • c `' , --
<br /> ' p►ymeet af the antire mortp�t msara»ce prerrtium,thrn each monEhtY payment shall atsa inctade qitlxs:(�an installment ot tht
<br /> • anintNl mort�e insuraua��sr+emium to be paid by I.ender ta the Socretary.or(iij a month�y chu�e insxe�d of a mort,;age .
<br /> - inwt�nce prtmiwd if this Secvrity lnstrumrnt is hetd by t�e Secretary.Each monthiy instaltment of the mortgagr insurance , �
<br /> - prem[um sfnll be in an amot�ns suf�cient to arcumpfate the full annual mortgage insnrance premium with Lender one mopth �
<br /> � ptior to the�'lau the full annual mort�ge insuru►a premium is due co the Secrctary.oi it this Sccurity Instnrmrnt is held by the
<br /> � Sacretu�y,each mo�hly charge shait be fa an amauat equat to one-tweifth of oae-half perct�t of the outstandIng prf'ucipai � ��
<br /> balsnce due on the Note. � �
<br /> �1 It Borrower tenders to Lender the fuD payment of aIl sums secured 6y this Security instrucnent,Borrower's account ahall be �
<br /> � credited with the balanct rrmaining for all installments [or items (a). (b) and (c) and any martgage�insurance prcmium
<br /> . installment that LenQsr hac not become oblig�ied to pay ca the Sarecary.and LenQet shall pramptly refund any excess tunds ta
<br /> Borro�ra,lmmediately prior to a forectosure sale of the Praperty or its acquisition by 4ender. Borruwer's arcount shall be
<br /> � ' credited xltb any balance remaiaing for al!instaJiments for items(a),(b)and(c). -
<br /> . 3.A�IitatW�ot Pa�s��.Ati payr,sr.zts un3c:par��sphs 1 an�2 shsA be a�plied by Lendss as fo!lo�s: - •
<br /> �j$�,to the mortgs�ee insar�nce precn�um to be pald by Lender to the Secretary or to the monthiy charge bX the Secretary
<br /> insteul of the moatAty mortga�a'snsaranct gremium,untess Borrower paid the encire martgage insurance premium when this '
<br /> Se�urity Instrument was signed; .
<br /> SEC�ND.to any taxes.s.flccial assessmrnts.iqsthald�ayments or ground rents,and fire.Qaod and other hazard insuraace .,4r._.
<br /> premPam��as required: . •
<br /> �j}�Q.to interest Que unda the Note; -
<br /> � FOU1tTH,to amortlzation of the princip�l�P the Note;
<br /> _FIFTH,to I�te char�es due undtr the Note. ,
<br /> • I.Flee,i'toa�l a�N OIMe►H�d I�n�cs.Barruwer ahall insurc at!impravements an the Prnperty,whethu nnw in eziste�ce '
<br /> or subsequently ereCted,a�ainst any huarQs.ca�ualties.aarJ cont+ngencies,incfud�ng�re,fat which I.ender requires insurance. _.
<br /> This inaur�nct shaf! be maintainsd in the amonnts and for the periods that l.ender rcquires. Bnrrowrr shall atso insure ap
<br /> imDrovements on the Prapesty.whether now in exisctnce��r suhsequenlly erecteci,againct loca 6y f1c�oQs to�he exirnt rcquir�A Ay ',�
<br /> • the Seeretary.All insurance sha11 be curried witb companies ap�+roved by l.ender.The insur�nce W��cies and any renew�lc sh�ll ��
<br /> � bt htld by l.ender and shalt inctude loss payable cSuusec in favor of.and in a form acceptablo ta. 4ender. �
<br /> /n the tvent oi loss.Hotrdw;r sh�l)pv�Lendtr immediare rtaticc by mail.l.enCcr may mare Drc�af of lesg if r.ot made ptompt-
<br /> ly by Boxtowet.Fach iasutsn�t camDarsy concernt0 is hcreby uuthoriyed and directed ta make paytntnt far sucA loss duec�ty to
<br /> Lemder.inatead of to Borrowtr and to Lrr�der jointly_All or any part of the insurance prcxecds may be applied by L•endtt.at its
<br /> op3ion. either(a)to the reduction of the indofitcdnetis unQer the Hotr an4�his Securiiy Instrument. first to any delinquent �
<br />- -- ai:.0ut3t>g�:i�i^Sr�orst=r in P9sa�rspTM 3, IInQ tNrp er,pr�r,�yrtesnt nt nrinci�al,r�t�A)tn Iht ret(tir�lic�n or tt�air nt ihp �
<br /> dam�ged pra�my.Any apjsfi•auan of the procecds ta che principal shatl nat extend or pnstpone the dor Qate of Ihe manthty� �
<br /> payments wriicfi are teferred ta in Parugraph 2.or change the amount uf such paymtnts.Any excess insurance proceed+n��er an
<br /> amount rtquita3 zo p�y all outstanding indeblednesE undea the Note ond this Srcunty Instrurnem shall be paid tn the rntity tcgal �•�'
<br /> ly endtled thereto,
<br /> (n the tvent of forc�lusure of this Scrurity Inserument nr nther trensfer at�iele to thc Property�hnt e�tingui5he5 the in �
<br /> �- • debtednes�,al)right. title and interest of l3o�rowet 1n artd tu msurance poLae9 in (e�rce shall paFS tn the purchaar,
<br /> , S.He�enrWo���d MY�te�aNCe ot�Ae Prooear. I,eax�oW�. 13orrower aha!!nr�i cnmmit wastc or Qestrvy, damagc or �
<br /> - aubstacttitlJy c�e tht Ptvperty or�ltow tht Property tu deteriorate.reascmabk wear and tear QMCrpted.l,ender may u�epecr � �--� - � �
<br /> the p�operty if tR'�e properly is vacant ur aband�necJ or tRe loan is in defautt.l.ender n�ay iake teasnnabte�cti�n tu pruu�t aud
<br /> preserve euch vacant or aban�vaed property.lf�his Sccurity lnsir umcnt is on a teac►hUtd.Ifc�rrnw•¢r shal!ce�mpfy with c4¢pruL� �
<br /> Fion�ut the leue. if Borrowcr ac�uite9 fec�i�tt to thc Proyerty. thr Ica+eholA and(ce tule shall not be merged unlc�s L.cndcr
<br /> • Ag�ees to Ihe merger in ttiriiing. ' ' '
<br /> i.CIMr�es lo iorrower���ro�eeUos ot l.e�fer's RI�Mt�i�tYe Prooeny.ti»rrowcc vhall pay all�utiernmcntgl vr r.wn�upa�
<br /> ' chu�es.(ines tnd impositinns Ihat are rtot�nclvded in Var�aph 1.Harrnwrr s�ail p5y these ubtigatic+r�c��n t�nie dircc�ty t�+the '
<br /> ' • tniily which is owed ttte�ayateqt. It failure lo pay wuulcl adversely�ftect l.ctider's interest in Ihr Pro�eefy. u�un I ea�dcr'�rr
<br /> � , • yuest liorrorver shall prc�mDtly furnisb to L.ender receipt� ev�de�zang thesr paymemc.
<br /> fi'8ortu+�er fasls to make these yaymeats or the payments re�uired by Puragraph 2.c�r faiis tn perform at►�ntiiet�uecr�ants aad '
<br /> agran�enu cantalned in this 5ecurity fnstrument,ur there is a legal prrnecd�ng that may Sigmi�cantty afku t cnder'�right+nr
<br /> tt�e Pr�gerty(such us a procerding in bankruptcy.for cnademr►at�on��r to enfarce la�v�c,o regulate�ne),then l.ender may dc�and '�- ` �'�
<br /> pa�wNate�rr is nccessuy to protett the value of Ihe I'roperty aRd 1,cr.deT's rights in the Nraperty,mcludmg payment of tat��. '
<br /> „ h�r�rd insurance�nd ofirrr items meatianed in Pnra�rapl�2.
<br /> _ . - -- ' lfoy c�mounls disTiuised 6y iEnder u��ct tfiic FAregiHp�i sTi�?I 6Cti��n��n aQ�ti`v�5T d�bl o��c�w�d�idhe ic,:uie�F+y ii�i� : .
<br /> Srcu�+ty Instrament. 'Ihtse amounts sha11 hear'inicrest from the date c�f dfsGurscmrn,t, at the Nc�tt ratc,nn�i u� �hc t�pi�c.rt�,t
<br /> 1 endrr. sha11 be immediatcly dae nnd payable_ ' �r
<br /> ��s
<br /> � T,t'�eiret�tlaA.The pruceeds at any�iward Or ctairn fot d��grs,c�irect nr�e,nsequenriai,itt�ortnr�notr with�ny �undenr �
<br /> u�nion eu other t�kiog of any patl vf�heC'�a�.riy,ar fi�r conveya�et ir.pte;e s•f cui�den�r,ati�+n,are heteEp asSrF;�tc�a�iJ�Iia41 b�•
<br /> pacd ia Y.c+iclrr Ec►the ettcnt af 1he tul!amaur�t r�f the indeQ+tcdaes�tha�remains un�+a,d under the Ne•te c�nd tku�4:�uucy fr�.��u �
<br /> ment.t rtndrt shaf!uDplysu;h procteds ro the tedaciion of:he indehtedness undr�th!NE�tt'Ati(1 th3c Sfltltttt(n�*rumrr:t,nr tit r.� t,�
<br /> .�n��cku�u:s+!um�unts aDplied it�ehe nrder ps�vute�in�'aragra#�)f;,,fh�#then to#+rr�asmtret oE �::n,a�al �r�r arp{��auEs:t+•r. . ;��
<br /> - � �����?T4.r�t:C�Q: ttr the psintip2i 9lF811 nt}!e1�F£na t�i pasf�tint the�ciue d�te af fhe n�vnthir�r33�P,{}f"s, �rfiicti :1f2 7cfEiiCl��Tcr 7f� _ _ �(
<br />- � ���71d�Fi1��Y�.Qt.tiatigc IhC atYNUf1t af iiteh p�ytlieUtS.Arsy rK�Ess prc,�rctts occt an anu�unt rc�uire�tv pa} �11���atwl�:ulirh u� , , +1!,-�.
<br /> itel.+tcde;e�5 i�adc. tfi[ Nnte aod Ihis aesucc�y tnstturvent �.fiall!+e pai�f tc•tlie cnht�t:�:�31y cntitlyd �heretc� •
<br /> !I.�FSr.!�rdcc mnY ct�llCCr fCe�at�t{chdrh,.�ufht�t��eii hp thc�c�ict�t�
<br /> f�aE�r: .�� �. ._.�._ _ _. _.
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