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u R. Romer tarrdws to under the lui pay" of y suers seared &1 00 S@aa lily Irshurnent Borrower's account shall ba acs& WW' (fire balatrna rerrarnbrg for of boilli of for (hare (a). (b) and - (c) and any marlgape insurance prenium i wU aart that Lendar has not beco w 9MOded ft pry to the Sarsiety. and Lddar shd promptly r*.M wW corneas (lards to Borrower. Immediately prior to,a ioreclosuse , Sete of the RWW'cr Its a"4 4m by Lender. Barower's accord shall be c edfad wth any balance ra rk*. ns for all insUhnerds for items W. (b) era (�• S. App1iC#UM of Pattnferd& All payments under plrsvaphs t and 2 shat be applied by Lander as follows: -F c b the +rrorlgmp imwic t pan". to be paid idly Landr to the Seerdwy loll to the niardhty charge by ate Seeretery hates don . MW *j nro -g V insurance prwnitim, u niece Borrower paid the entire awri pe Imurarioe paanRm when this Security inshum nt was signed; K-ODW. i0 any *mw *wW assesanwits. berm troll payments 0r grorard nets, and lire load and other harm insurance prom inns,'• aw nquisds Ti MD. to tai due under the NOW ' FOUM to a. n ft0r, n of to prihcipai d •the P1cta; -. i:!(y 1* iMi clwig due under the NallL - - ' d. Fk%. Flood and Othei Haeafd iestMMM. Banorwr slut insure al improwaments on the Properly. whether now In wiatwtoa, or M"ecperrfy &eria4 spar E ley. hazards, omuaNiu, and esantirhgenciae rdudfngt #e* for which Lender requires insurance. This %Mtranoe shat be nrstnMrirn@d in the amourris and for lire periods that( Under. requites. Borrow shall also (nacre of irnprovwn4mds on the Ptopwly whol1w now In w6wide or subsegxinfly aecMd. aphM loss by foods ills the o*d wqutred by the Secretary. N insurance shall be coo led wrh carrpardss approved by Lender. The iistrsnoe policies and jay rtnoOosils shat On held by Lender and shat include loss pajob! e;fawea b ilwor•of� and to a Corm secepphhia to. Under, ` U ft ewwt Of 1040, 00 0W40 shat giw Larder inannedet4 rxtfee by rroIL Lander nuy mks proof of toss -t not no" pro q* by ' Borrower. Eadt immence company conowrad is hereby authorized and directed to make payment for such toss directly to Lender. instead of to Borrows and to' Lender jointly. N at any part d the Inmir" proceeds may be applied by Lender. at Its option, either (a) to the reduclon of the kxkbl@dnass under the Note and ants Secuft instrument, first to any delinquent amounts applied in the ceder In Paragraph 3. and than' to prepayment of principal. or (b) to the restoration or repair of the damaged property. Any application of the proceeds to the peinoipa{ shall trot emdwid or postpone the der date of the monthly payments which we ratergd to in Paragraph 2. or change the amount of such payments. Airy, excess insurance proceeds over an amc rut required to pay all outstanding indebtedness under the Note and this $*aft kwownent shall be paid to the entity Mg* entitled thereto. in the event of foredgsurs of this Security indrument or other hansfer of title to the Propelry that extinguishes the indebtedness. all right, We wd iMaed of Borrower In and to insurance potkt4s In force shall pass to the purchaser. 5. PrNSrwatbn wtd Maintenance( of the Prope t)/, Leanhoids. Borrower shag not tomtit waste or destroy . dear g or a beWMlally change the Property or allow the Property to deteriorate. reasonable weer and ter excepted. Lender may inspect the property t the properly is vacant or abandoned or the loan is In delaulL Lender may Was reasonable action to protect and preserve such vacant or abandoned prof mly: It this Security instrument is on a hmehotd. Borrower shall comply with the provisions of the lease. it - Borrower acquires fire We to the Property. the leasehold and fee title shelf not be merged unless Lender agrees to the merger in writing. ' a. Charges to Borrower and Protection of Landees Rights in the Property. Borrower shag pay ail govemmenW or municipal charges. !lens and knposWms that are not included in Paragraph 2. Borrower shag pay these obligations on time directly to the entry which Is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly fumish to Lander receipts evidencing these payments. ; N Borrower tab to make these payments or the payments required by Paragraph Z or fags to perform any other covenants and agreemerds conlobed in this Security Instrument, or there Is a NMW proceeding that may significantly affect Lender's rights in the Property r� (such as a proceeding In bankruptcy. for condemnation or to enforce laws or regulations), then Lander may do and pay whatever is neoesswy to protect the value of the Pmpwty and Lenders rights in the Property, including payment of taxes. hazard Insurance and other ; henna mwdW W In Paragraph 2. Any amounts dlatwrsed by Lender under this Paragraph shag become an additional debt of Borrower and be secured by this Security instrument. These amou eta shag beer interest from the date of disbursement, M the Note rate. and at the option of Lender. shag be rmrnedatsy due and payable. 7. Condemnation. The proceeds of any award or claim for damages, direct or consequential, In connection with any condarrutlon or other takkrg of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the a dent of the full amount of the Indebtedness that remains unpaid under the Note and this Security instrument. Lender shag apply such proceeds to tit@ reduction of the indebtedness under the Note. and this Security instrument. first to any delinquent amounts applied in the order provided in Paragraph 3. and then to prepayment of principal. Any application of the proceeds to the principal shall not eded or postpone the due date of the monthly payments, which are referred to in Paragraph 2, or change the amount of such payments. Any soeae prooeade over all amount required to pay ale outstanding indebtedness under the Note and this Security Instrument shag be paid to the eMlty'legely eu-I'm thereto. L Fees. Lender may collect fees and charges authorized by the Secretary. " 9. Grounds for Acceleration of Debt. (a) Default. Lender may. except as limited by regulations issued by the Secretary In case of payment defaults, require I ri madate payment in full of all sums secured by this Security insWment if: (1) Borrower defaults by tailing to pay In full any monthly payment requited by this Security Instrument prior to or on the due • date of the next monthly payment, or (11) Borrower defaults by fit, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Salo Without Credit Approval. Lender shall. N pemnitted by applicable law and with the prior approval of the Secretary. require Immediate payment In tug of all the sums secured by this Security Instrument it (1) AN or par! of the Property Is sold o: otheravbe trensImed (other than by devise or demean!) b; the Bonov e•, and - (11) The Property Is not occupied by the purchaser or grantee as his or her primary or secondary residence, or the purchaser or grantee does so occupy the Property but his-or her credit has not been approved in accordance with the r4WkVm= is of the SOCMtcry, (e) No Waiver. If circumstances occur that would permit Lender to require immediate payment in tug, but lender does not require such payment. Lender does not waive its rights with respect to subsequent events. (d) Regulations of HUD Sseretary. In many circumstances regulations issued by the Secretary wig limit Lender's rights, " in case of payment defaults, to require rnmediate payment In fug and foreclose it not paid. This Security Instrument does not foreclosure authorize acceleration or if not permitted'by regulations of the Secretary. 10. Relsidsternent. Borrower has a right to be reinstated if Lender has required immediato payment in full because of Borrower's rO failure to pry an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted To reinstate the Security instrument Borrower shall tender In a lump sum alt -amounts required to Ming Borrower's account current indud;ng.- to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorney's fees and expenses property associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security trrstrUment and the P32C 2 of 4 F43331T1 (04/9D) CF .MC ,