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<br />�..,� 104932
<br />RrLc1/a!► Win* 8" � Curve, Borrower shall pay when due me prindpid of, and interest on,• the debt
<br />evidenced by the Note and late charges due under the Note.
<br />- - Tt Iaeltraeesatttf 00> "Cl�, Burrower shall inciude preach monthly payment. together with
<br />the prutapat noel ixat is Set forth in the Note and any last Charges, an of
<br />- - - —� `levied or to W levied apinst the Property, (b) kaaehotd '°I'tai taxes nerd special assessments
<br />Payments or ground rents on the Property.. nerd (c) premiums f" hUrace a4stired by:Paragraph 4.
<br />Each moss ttl► instlftont for items (a). (b) w d'(c) "equal one- twelfth of the annual amounts, as reasonably estimated by
<br />Leader, On an aotouat sufficient to maintain an additional balance of not more than one -sixth of the estimated amounts. The
<br />- full aettual amount for, IBM* item shall be accumulated by Lender within a period endmf one month before an item would'
<br />become deliequmt. Lander shall hold the amounts collected in trust to pnyitems (a), (b) and (c) before they become deliagtteat_
<br />_ -- - -- If at sty time the total of the payments held by Lender for items (a), (b). and (c), together with tbe- future monthly payments
<br />for each Items payable to Leader prior.to the due dates of such items. exceeds by more than one -sixth the estimated amount of
<br />payments required to pay such items when due, and if payments on the Note are current. then Lender shall either refund the
<br />ckm over oa- " of the estimated payments or credit the excess over one -sixth of the estimated payments w subsequent
<br />paymob by Borrower, at the option of Borrower. If the total of the payments made by Borower for Item (a), (b), or (c) t
<br />lnsafticieat to pay the item when due, then Borrower shall pay to Lender any amount accessary to make up the deficiency (c is
<br />before the date the item becomes due:
<br />As used In this • ' ' :
<br />Security 1tutMeut. 'Secretary' atoms the Secretary of
<br />s Vie- !Kos qty its banned by the Housing and Urban Development or his or her
<br />Secretary are insured under programs which require adva=pAyMftt0fthc-
<br />e11**UW1VW premium. If this Security Instrument is or was insured under a program which did not require advance
<br />pay= t of the entire mortgage insurance premium, then each monthly payment shall also include either: t7 an installment of the
<br />�tSW i ce premium to be paid by Lender to the secretary, or (ii) a monthly charge, instead of a mortgage
<br />it>entaaoe praNum if this Security Instrument is held by the Secretary. Each monthly installment of the mortgage insurance
<br />premium shall be in an amount sufficient to accumutau the full annual mortgage insurance premium with Lender one month
<br />E prior to the date the foil annual mortgtige insurance premium is due to the Secretary, or if this Security Instrument is held by the
<br />Secretary. each monthly charge shall be in an amount equal to one - twelfth of one -half percent of the outstanding principal
<br />balance due on the Note.
<br />If Borrower; tenders to Lender the full payment of all sums secured by this Security instrument. Borrower's account shall be
<br />credited with the balance remaining for all installments for items (a), (b) and (c) and any mortgage Insurance premium
<br />� tth Lem has not become obligated to pay to t4c Secretary, and Lender shall promptly refund any excess funds to
<br />credited with any balance prior to
<br />maining foreclosure sak Of
<br />installments for ite ns (a), (b) an
<br />d (c? on by Lender, Borrower's account shag be
<br />3. ANYgttiog of hyaaetats. AD payments under paragraphs 1 and 2 shall be applied by Lender as follows:
<br />E=, to the mortgage insurance premium to be paid by Leader to the Secretary or to the monthly charge by the Secretary
<br />{ instead of the monthly mortgage insurance premium, unless Borrower paid the entire mortgage insurance premium when this
<br />Security Instrument was signed;
<br />to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard insurance
<br />premiums, as required;
<br />MMn, to interest due under the Note;
<br />Joe TH, to amortization of the principal of the Note;
<br />EM, to late charges due under the Note.
<br />4, Fie, Flood and Ober Bassin hwraaoe. Borrower shall insure all improvements on the Property, whether now in existence
<br />or subsequently erected, against any hazards, casualties, and wnsingencies. including fire, for which Lender requires insurance.
<br />This insurance shall be maintained in the amounts and for the periods that Lender requires. Borrower shall also insure all
<br />Improvements
<br />he ro vements on the Property, whether now inexistence or subsequently erected, against loss by floods to the'extent required by
<br />Secretary. AD insurance shall be carried with companies approved by Lender. The Insurance policies and any renewals shall
<br />be held by Lender and shall include loss payable clauses in favor of, and in a form acceptable to, Lender.
<br />In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of toss if not made prompt•
<br />ly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such loss directly to
<br />i Leader, instead of to Borrower and to Lender jointly. AD or any part of the insurance proceeds may be applied by Lender, at its
<br />option, either (a) to the reduction of the Indebtedness under the Note and this Security Instrument, first to any delinquent
<br />amounts applied in the order in Paragraph 3. and then to prepayment of principal, or (b) to the restoration or repair of the.
<br />damaged property. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly
<br />payments which are referred to in Paragraph 2. or change the amount of such payments. Any excess insurance proceeds over an
<br />amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legal-
<br />; ly entitled thereto.
<br />In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the in-
<br />debtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser.
<br />S. Preffmaden am Mahttettaaee of tiro P
<br />substantially change the Property or allow the Property, to de� atte,, Borrower easonable wear
<br />Ot anndcommit ar excepted. Lender' ay inspect
<br />the property if the property is vacant or abandoned or the loan is In default. Lender may take reasonable action to protect and
<br />preserve such vacant or abandoned property. If this Security Instrument is on a leasehold. Borrower shall comply with the provi-
<br />51On3 of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender
<br />agrees to the merger in writing.
<br />i- Cltotr to Borrower and Protection of Leader's PJ$bts IN five Property. Borrower shall pay all govemmental or municipal
<br />charges, fines and impositions that are not included in Paragraph 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 Property, upon Lender's re-
<br />quest Borrower shall promptly furnish to Lender receipts evidencing these payments.
<br />If Borrower falls to make these payments or the paymenra requited by Paragraph 2, or fails to perform any other covenants and
<br />agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in
<br />the Property (such as a proceeding in bankruptcy. for condemnation or to enforce laws or regulations), then Lender may do and
<br />Pay whatever is necessary to protect the value of the Property and Lender's tights in the Property, inchrding paymeat-ot Luca,
<br />hazard insurances and other items mandancd In laran+api; Z. - - Any amounts disbursed by fender under this Paragraph shall become an additional debt of Borrower and be secured by this
<br />Security Instrument.. These amounts shall bear interest from the date of disbursement, at the Note rate, and at the option of
<br />Lender, shall be immediately due and payable
<br />' f 7• Coadeatutios. The proceeds of any award or claim for damages. direct or consequential, in connection with any condem-
<br />L. nation or other taking of any part of the property, or for conveyance in place bf condemnation, are hereby assigned and shall be
<br />paid to !.ender to the extent of the full amcunt of the indebtedness that remains unpaid under the Note and this Security Instru-
<br />ment. Lender shall apply such proceedi to the reduction of the indebtedness under the Note and this Security Instrument. first to
<br />any delinquent amounts applied in thewdei provided in Paragraph 3, and then to prepayment of principal. Any application or
<br />the proceeds to the principal shall not extend of postpone the due date of the monthly payments, which are referred to in
<br />Paragraph 2, or change the amount of such payments, Any excess proceeds over an amount required to pay..all outstanding in-
<br />debtedness under the Note -and this-Security Instrument shall be paid to the eriiiiy legally entitled thereto. ,
<br />A. frees. Lender may collect fees and charges authorized by the Secretary.
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