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<br />90--= 105442
<br />1. Pa7egtwlot Rlladplt6 htteeesl nap tart CMW. Borrower shall pay when due the principal of, and interest on. the debt
<br />evi . r, d by the Note satrJ� We charges duo under the Note.
<br />7. AIMMi Pa le of Tease,11"mNee well 0" Chuw. Borrower ihuM include in easels monthly payment. together with
<br />the principal and interest es net forth In the Note and any We charges, an Installment of any (a) taxes and special assessments
<br />Wed or to be Wed spina the Property, (b) leasehold payments or $round rents on the Property, and (c) premium rot
<br />lasuranoe required by Paragraph 1.
<br />no* monthly installment for items (a), ( and (c) shall equal one - twelfth at stye amstttra amounts. as reasonably estimated by
<br />Lander, plus an amount suflloieetI to mein an additional balance of 'nor more nhsrs me- *1h of the calateW amounts. The
<br />full amt aW amp mnt for each item shell be accumulated by Lender withia a period eitdJnS am mouth before an item would
<br />I non delinquent. Lender shall hold the amou us collected intrust to paY itct,at,(a), t(tbJl an,4 (c) before tbey beooate doWnumt.
<br />If at agar time the total of the psymmis held by Leader for Items (a), ('b), and f(c ), 49060 with the Posture Monthly payments
<br />for exit item pagable to Lender prior to tls des data of such items. txceeds by mpre.thaw me-sixth the estimated amount of
<br />payments required to pay such itaau what due, and If psynuats on the Note urge pirt+eat, tl+ea Lender shall either refoW the
<br />excess over one -sixth of the estimated payments or credit the excess otret o rue- sirt)t of the vstuansted payments to subsequent
<br />ppaayymmeenattse by Borrower. at tM option of Borrower. it the total of the payancata amine by llo: mover for item (a). (b), or (c) Is
<br />faatfkleat to pay due item when due, then ion rover shall pay to Lender say am -,taw Occeswry w anake up the deficiency ca or
<br />before the date tie harts become due.
<br />As used Its this Security Insaument. "Secretary" meats the Secretary of Ftwusing and► tlz%u Development or his or her
<br />desipae. Most Security imueumems insured by the Secretary are insured under progrorss wWb 'require advance payment of the
<br />snide mattgage insurance premium. If this Security Instrument is or was inwftd under a ptograr,a which did not require advance
<br />paymau of the entire mortgage Insurance premium, then each monthly paymerur shaft Woo iur: dude either: (i) an lostallnocat of the
<br />annual mortgage insurance premium to be paid by Lender to the Secretary„ or -M a monthly charge instead of a mortgage
<br />Issuance premium If this Security Instrument b held by the Secretary. Each monthllr install eat of the mortgage instsumce
<br />premium sha11 be in an amount sufficient to accumulate the full annual mortguge imuranaca wardum with Lender one mouth
<br />prior to the date the full annual mortgage insurance premium Is due to the Secretary, or if this Sucurity Instrument is herd by the
<br />Seaetary, each monthly charge shall be in an aaouat equal to one - twelfth of oust - bruit' Ipec:4at of the outstanding priacipal
<br />balance due on the Note.
<br />If 86mmer tenders to Lander the full payment of all sums secured by this Secs,rity oostaumeru, Botroxwtr•s account "be
<br />credited with tho balance remaining for all installments for items (a). (b) aiW (c) ands any moattgaale iasura= premium
<br />htatallmem that L.eoder huts not l 11 -e obligated to pay to the Secretary. and Leader 3t,alt Vwvnptly ref uad any excess funds to
<br />Borrooww. lrtelstsly prior to a famlowe sale of the Property or its t:sstuL*Jm -by Lt: --4•• . hLsrrrsaa=% so== rbarS be
<br />credited with any balance remaining for all butailmente for Items (a). (b) and (c).
<br />3. Applinde t of lrgsssaI AU payments under paragraphs I and 2 shell be applied by Lender as Volloa,s:
<br />IMM, to tits Mortgage Insurance pnwnium to be paid by Lender to the Secretary or to the rnotMy ,change by the Secretary
<br />instead of the monthly morysge insurance premium, units Borrowa paid the entire moraiagt Iasuraaec ;premium when this
<br />Security Instrument was signed;
<br />$ — to any taxes, special asseameats . leasehold payments or ground teats, and flue, il,,.:,d sad choler bassard aseraaoe
<br />Premiums. ne required;
<br />�jgQ. to interest due under the Note;
<br />to amortisation of the principal of the Note;
<br />to Iste charges due under the Note.
<br />4.1)iss, Fkwd sod Other Bassani imsarames. Borrower shall Insure all improvements on titer Prom+ ty. wl;eihe7 now tat dwstence
<br />or subsequently erected. against any hoards, casualties, and contingencies, including fire, for wblch Len Gear requires Intura me.
<br />This insurance shall be maintained in the amounts and for the periods that Lender requires. Borrower srtsu aallso insure aU
<br />improvesnests on the Property. whether now in existence or subsequently erected, against loss by floods I o 1T v- ,extent required by
<br />the Secretary. All insurance "be carried with eompada approved by Leader. The insurance poilJo nus4 atoy reaewals shW
<br />be hdd by Leader and " include lost payable clauses In favor of. and In a fount acceptable to. Len der.
<br />In the event of lose. Borrower shall give I.esder immutWte notice by mail. Leader may matte proof oaf ton if not made -pompt-
<br />ly by Borrower. Each ins saime company concerned Is hereby authodsed and directed to snake payment for such lox+ directly to
<br />Leader. Instead of to Borrower and to Leader Jointly. AU or any part of the insurance proceeds may be wpi.Lad by Lender, at its
<br />option, either (a) to the reduction of the indebtedness under the Note and this Security lastrumeat. 'firer Ito any delh quest
<br />amounts applied in the order in Paragraph 3, and then to prepayment of principal, or (b) to the restoration or repvir of the
<br />damaged property. Any application of the proceeds to the principal shall not extend or postpone the dues date of i'he r imthly
<br />payments which are refared to in Paragraph 2. or change the amount of such payments. Any excess insurance proceed:: •urer an
<br />Bunt regtbere to gay all outstanding Indebtedness under the Note and this Security Instrument shall be paid to the entity legal-
<br />ly in the event of foreclosure of this Security instrument or other transfer of title to the Property that exd%uishan .the in-
<br />debtedness, W right, tide and intaew of Borrower In and to insurance policies in force shall pass to the purelbaser.
<br />tf. Promm Mm mad hlslalsaaate of the Property, 14wabW& Borrower than not commit waste or dfesiasay. daa7;,age or
<br />ssbatandally change the Property or allow the Property to deteriorate. ressauble wear and tear excepted. Lea tier may inapeca
<br />. the property if the property is vacant or abandoned or the loan is In default. Leach may take reasonable arciom to protect and
<br />preserve such vacant or abandoned property. If this Security Lmitrum ent is on a leasehold. Borrower shd comply with the ;provi-
<br />sioos of the lease. if Borrower acquires fee title to the Property. tM lessebold and toe title shall not be merged unless under
<br />agrees to the margar in writing.
<br />i. Cinlrges to Me - a er and Psetsedon of Iemder's Naha M the Peweeb. Nortown shall sty an soveromentsl or municipal
<br />cbMW, fines and impositions that no not included in Paragraph 2. Borrower shall pay that obligations on time dirxctly to the
<br />entity which is owed the payment. if failure to pay would adwrwly affect Lender's interest in the Property. upon Lex*r't to
<br />quest Borrower shall promptly furnish to Larder receipts evidencing thaw paymessu.
<br />If Borrower falls to snake these paymienu or the payments required by Parayaph 3. or farid to perform any other covenants and
<br />agmemeft the y (such as a this Security Instrument. or there is a legal proceeding that may s4oficantly affect Lender's rigbis In
<br />whatever s proceeding In bankruptcy►. for condetnanion or to taforce laws or w4ulations). then Lender may do and
<br />pay necessary to protect the value of the Property and Lender's rights in tba Property, Including payment of taxes,
<br />hazard Insurance and other items mattloned in Paragraph 2.
<br />Any amounts disbursed by lender under this Paragraph shall beconts as additional debt of Borrower and be Neared by this
<br />Security Instrument. Tbae amounts shall bear interest from the date of disbursement. at tin Note rate, and at the option *if
<br />Leader, shall be immediately des and payable.
<br />7. Comdeme adon. The proceeds of any award or claim for dentages. direct or consequential, in connection with any conelem-
<br />nation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be
<br />paid to Leader to the extent of the full amount of the indebtedusu that remains unpaid under the Note and this Security Inma-
<br />meat, Leader dhaU apply such proceeds to the reduction of the Indebiednesa under the Nape and this Security Instrument, first me,
<br />any delinquent amounts a p0od in the order provided in Paragraph 1, and then to prepayment or principal. Any application or!
<br />the proceeds to the principal shall not extend or podpow the duo 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 anount reysdted to pay all outstanding in-
<br />debtedneas under the Note and this Security instrument shall be paid to the entity IgWlly entitled tlseretu.
<br />g. Fees. Lender may collect fees and charges authorized by the Secretary.
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