|
= 9Q-. 146130
<br />v t Eaidi mombly installment for items (a). (b), and (c) shall equatene- twelfth of the of nual_amounts, as reasonably estimated
<br />by LerocW,.ptas sin amount 3nff cient to maintain an additional-balance of not rn i'e d an tine -sixth of lets estimated amounts.
<br />The fuV annual amount for each item shalt be accumulated by Lender within a -period ending one month before an item would
<br />s become "ngwm Lender shat! hottl.lhe amounts collected in truss to pay items (a). (b), and. (c) before they become delinquent.
<br />If st noy tW* the total of The payments held by Lenrler for itetns(a), (b). and (c), togethet *i1h the future moathty payments
<br />- for -rude itetntc.po -Able to Lc�der: prWtothe+due:dates of such items, exceeds by more than ii�tc -sixth the esiintatsd mpottrtt . -
<br />of yisymonts required;to pray such items when due, and ftaymtents on the Note are.current, then Lender shall either refund
<br />the aiem over one -sixth of ft payments or credit the excemover on"xth of the e9intated payments to sitZ��equent
<br />i payrAests by Borrower, at the option of Borrower. If the total of the payments made, by Borrower for item (a). (b). or (c)
<br />ii i mfftdent to pay the item when due, then Borrower shall ply tai Leader any amount-nee smy to make up the deficiency
<br />?; on of before the diet the item becomes-due
<br />As uaed in this Security Instruiam, "Secretary" ratans the Secretay of iiouft and Urban Development or his or her
<br />detdgpa. MM Security Ids insured by the Secretary are insured under programs 4hkh require adva= payment of
<br />the entire momme insurance premh m. If this Security Instrument War was insured undo a program which did not require
<br />advaaoa pagrasent of the entire mortptge imtuanoe premium. then each monthly payment ahailaiso include either: ManinstalhoM
<br />Of * ataual monpge kwrance premium to be paid by Leaft to the Secretary. or (ii) a monthly dwp instead of a morgm
<br />insttrasi m pamitaa it tips Security lrudrument is held by the Secretarg:.Each monthly installment o'f the mortgage bmance
<br />praaiwat AW be in is mount suffscsartt to accumulate the foil annul mortgage insunance premium with Lender one month
<br />_ psittr,l t>he:„tU mama! ntortgsge iissturance premium Is dgt* po the Secretary. or if this Security Inswment is WA
<br />by dreS4i�i;i#tiaryi,`df teoethly share shall be in an amtount equal to ricirdith of onah*lf percent of the outstanding priirieipal
<br />i; t oe the Nate. f j `
<br />`hiorrower tenders to Lender the full payment of�lsms secured by this Security Instrument, Borrower's account shall
<br />be crodited.witb the balance remaining for al "astalime4i for items (a), (b), and (c) and any mortgage insurance premium
<br />,, ..,. .
<br />... � t>,RaaUmatc the isettder has'not become o61ig to pays to the Secretary, and under shall promptly refund any excess funds
<br />' to Borrower. Immediately prior to a for alo o sale of the Property or its scguisition by Lender. Borrower's account shall
<br />be credited with say balance aemainirtg .for all installments for items (a). (b). and (c).
<br />� of 1Csytaeal,.1d paysti underiii'agraphs 1. end 2 shall be applied by Lender asbilows:
<br />i. L _, to the insttiaittce pret zo be paid by Lendef`to i be Secretary or to the ausnthly ch by the
<br />aioleld aortgage insuranct p istiutn, unless Borroww M the entire mortg issurance,piemiumt6� this r .
<br />Aped;
<br />�. t y tun , special ass ssmeat s; t q
<br />xbiqipients or'ground rents. and flee., floe¢ and ot&i hazard insurance
<br />rd, to irueiest due under the Not.' ,:;:: ;• ' ' : {
<br />F rth. to amortization of the odri w tau: k0i
<br />F
<br />j f to late charges due ydGS.the
<br />f.1 , MaM aed Oi Ws ` igrhi IiNMMeIMMge: Botroaei shall insure all imptovements on the Property, whether now in
<br />exhatwit# subsea
<br />uqt tly erected. against ' iltizards, casualties, �tlr:ut►ntingeacies, including tire, for which Letrdeyuira -
<br />t, insuraw'. This insurance shall be maitttaittr 'ut'the amounts. and fw the periods that Lender requires. Borrower ib"I'Aw
<br />! insure, improvements on the Property. whrpker now 14viistence of su)sNuuntly erected. against loss by floods to the extent
<br />regt)it i4y the Secretary. All insurance'ahall be carrigr i*11
<br />. i companies approved by Lender. The insurance policies and any
<br />u,�sritali be held by Lender and sha�L.3rtctude tota;payable clauses In favor of. and in a form accsgtable to. Lender.
<br />re"'
<br />the event of loss; Borrower shall SW tinder.immediate notice by mail. Lender may make proof of loss if not made
<br />rpOptly by Borrower. Each-insurance cofnpruty concaved is hereby authorized and directed to make payment for such loss
<br />to Leatder, Instead of to Porrower and to Lt4�ieointly. All or any patst.of the insurance proceeds may be applied
<br />'.
<br />b UjOer, at its option, eitbre (4,t* the rc*aWon 4r,A* indebtedness under tl� Note and this Security Instrument, first to
<br />may quemt attto;tts appi ;ti>x t`6ie• ordd�' i�% era :. and tl�eai to prepttytsient of principal, or (b) to the regoration
<br />or repair gt the d#iita pd propMk'Any app C pn bf the proceeds ui, lie principal shall not extend or postpone ft &e date
<br />of the aa¢nthly:pi►ur which are referred �W?iiti feragraph 2, or cFage the amount of such payments. Any excess (itiiratx a;f'' '
<br />prooeeg(arpva an amount required to pay a[i'�rrustau Iriiittg indebtedness under the !Vote and this Securityy, lrtsttvmeni shall be ,
<br />psida4><ittie'entity legally entitled thereto. '
<br />;= " Is the event of foreclosure of this Se u�Y I ent or other transfer of title to rite 4i<ti si�� tit t extinawl'bes the y >°
<br />iudebtedaas. all right, tick and interest of ;04", wer in and to insurance policies in force gOV41 *4, tale puriwior.
<br />' '' Yy inn fatMil am
<br />trltY 0110 '' I�ca bwb. Borrower commit waste or f
<br />chaa ikvxtq erio ra e ,resos ear and tea exepad ;li ; 44et
<br />�
<br />tAe pr erty it the property is 4tant or alta)tl ii ed or idle loan is•itt ;default. Lender may take reasonable sctioat( #aptsatea 4
<br />S Bad eserve mic�h► v '
<br />� pr scant or abssdoned pu!' try. It this Security it-dtruntent is on a leasehold. Borrower shaji+ c y' with
<br />wit..; , : •.: ; .
<br />the pmviaioaa of the lease. It Borrower m� mhos fee tick to the Property. the leasehold and fee title shall not be mergeri`Tn M }';t;` �E'• ...,. {;
<br />Leader apes to the amore in writing.
<br />C chmseale aw r+n a u d ltratsrWw of L 'itlrtigltl b die lt+re". Borrower shall pay all goventmental or municipal `
<br />el Macs, tastes tied impositions that are not itrcluded in Puagraph- 2: Borrower shall pay these obliptions on time directly to
<br />the entity which is owed else payment. if fmilure to pay wwW adversely affect Lender's interest in the Property, upon Lender's
<br />ogwm imrowa shag pro■tptiy furnish to Lender receipts evidencing these- payments.
<br />� It Barowar faits to tushertbae payaseats or the paytrtettts+ roggited by lvurt4gt`aph 2. or faib to perform a+ny al►erwvenants '
<br />std I 1111111 awsainted im this S'ectstity Indmment. or there is m kio'pro'ceeding that may siSnificandy affect L. eider's rights
<br />- nrziie irtttperty fib" wa prmwMip in banirraprey. far cottttteniaadatt or to enforce taws or reguutiom), then -1 tatty
<br />do Bad pay.wbwm is aeamary to protect the value of the Property and Lender's rights in the Property. including payment
<br />! of taf o, hazard insurance and other item mentioned in Qaraaraph 2.
<br />Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be secured
<br />by this Securky instrurttest. These amounts shell bear interest from the date of disbur%- meet. at the !vote rate. and at the
<br />optic r of ).seeder. shall be iaaom iatedy due and payabke.
<br />7. CandasttoWm -_The Veoc'vtetks of Bey award br ctaiirtr for dtmages. d tea cat cctnsequentral. in cow ection with any
<br />condtom iort or other tallied of say` part of the irrobrrty., or for conveyamv in pare of condemnation. are hereby &W&ied ,
<br />Bed sWwh bt pwd to please to tht cam of tlhe full amount of the indebtedness ti9.tt remairn unpaid unilty the N te aria this
<br />sftu- q Initrum."T. tenQer S&L, apply swes Vroceeds t6 the reduo ore of the- inxdLftedness under the Nott Aral tH it SecuMy
<br />inst.tw .t. first toany delir4p&mantounts applied irptheorder provift4in Paragraph. and then to prep tyrrenr of principal.
<br />G"cos
<br />
|