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<br /> •-�.:`..;�•-:.: � 1.P�ywe�t of M�d�l.l�tenst�ud Lq CM�►S�.Bonow+or�h�U WY when due the pdncipsl of.and interat on,the debt �';,.,'.°,''?.-.
<br /> . ' � � .'n t'• evldenca!by the Note�nd U�te cMtrQei due uader tbe Note. `��;�,;_—
<br /> ��';�'_,
<br /> � ��T'```'�` ", �' �• 2.Mo�lYty P�7�e�b of T�a.lssan�ce�ud Ot�er Char�ea,HoROwer sh�l iaclude fn each monthly payment.toaether with `°=-
<br /> r, �.:,:�::e::afz
<br /> • the priucipal md intcrest as set forth in the Note and�ny We ch�rQa.an imtallmmt of any U)tues and epecial assessments
<br /> - , ; " n,� '`� levled or to be lened�inst the Properiy. (b) Iauehold paymrnu or�rouad rent�on tha Propeny,�nd Ic)premlums f�r - - �
<br /> -� `���".�':^�.'� insurance requirod by P�n�raph 4. _.�:*��:�..�.
<br /> � - E�ch monWy instWmcnt for items 101,f b)�nd(c)ah d l eq w d onrtwe l it h o i c he annu a l a m o u n t s,a s r e a s o n a b l y e s U m a�e d h y � -•—-•="�`"'
<br /> l.ende�.plw�n amount sufiiclent to m�intain M addiUon�l baU�nco of nat more th�n one•si�th of the atimwted amount�.The � r .,._,���,��:
<br /> fuN annu�l amount for each item shall be raumuloted by Lrnder within a pe�iad ending one month before an item would 6.f.���—
<br /> ' . becoma deUnquent.Lender shaU hold the amounu coUected in trust to pay items(a),(b)and(c)betorc they become deNnquent. ^:::�-,�.^���r�n,,�.
<br />_ _ � •
<br /> If et a�y time che total ot the paymeuts beld by Lender tor[tems(e).(b).ead(c),togetder with the future monthly paymenta � .•.`.°,��j �pJ�i},i�
<br /> for such items paYab�a to 4.caoder lxi�vC to cbre daa daces of sacL items,exceeds by mure cUan ooe-sixch tGe escimated wnount of . ��° ,`-r�i,�%. �y,;s._,'_�„
<br /> Un
<br /> � parpaeatts reqpized co pq�suah fpeme wh,cn due.a�if pa�on tboe IVOte�re cw.-teiu, then Len�er sl�a�U asher rcfezcd the �•�.i • • "�`'`: ;, y , .
<br /> - � . • , .0 acaess oYCr ame-s�ct.h of the es�imated paymeats or credit the excess over vae-sixth of tUe estinnar.ed p�Ymeats ta subseqpeae }. r�c:ia:.���,..:�
<br /> 'c cs ima , .
<br /> payments by Borrower,at the option of Borrower.!f the total of[he payments madc b7 Borro.rer for icem(aT,4b?,�(�1�s � �,��'�
<br /> ,,:'%:::;}�..�.
<br /> , � .. .,,� imuificieat to pay the item when due,tben 8orrower�hall pay to Lender any omount necessary to m�ke up the dePuieocy on or -e "" ,. ,, ,�•rc;,�;%:
<br /> ' betore the date the item becames due. �� �' �'
<br /> , r. `, ' i� .
<br /> �,���; : ,. , ����� � � ` ' , As uaed ia thia Secudty Instniment, "Secretary" meana tF�e 3ecretary of Houaing and Urban Development or his or her 1 S: ,'`%
<br /> • � ;�;�,� ��. designa.Most Secu�ity I�struments in�ured by the Secrctary arc insured under programs which require advance payment oi the !�'�` '•, ' �,� �
<br /> ' < entire monaaae insurance premium.If�his Secu�ily Instrument ia or was Insured under a pragram which did not require advance '� � �i 1
<br /> , ± r ,}+k;�` '' paymrnt of the enUre mortBage inaurance premium.thrn each monlhly payment shell al.�o lnclude either:(i)ao installment of the � ' ;; '� ' '���'�i �,
<br /> a
<br /> � ;•.�_.:�;,.,.�::•_.,;�,: �;�' annual mortgage inauranca premlum ta be paid by Lender to the Sceretary,or(fl) a manthly charge instead of a monga8e , • ��.?� n!�'
<br /> �, �• . i�uurana p�emium ii thls Secudty Ins�rument is held by the Secretary.Each monthly instaUment o f t he mortgage Insurance u'�"�' �'��� ��
<br /> . , ��:;;���.:��;;;:;' . prcmium shall be in an amount sufficient to accumulate the iuU annual mongage insurance premium with Lender one month . .�_--
<br /> � � ''i
<br /> '•'��:�; ' pdor to the dAte the full annual morieage insurance premium is due to the Secrctary,or if thia Secudty Instrument is held by the ,�i;q;��
<br /> � Secretary.each monthly char�c sqall be i�an amount equsl to one-twelfth of one-half perant of the out:tendina principal . ',�'��'•;�3•
<br /> b�lu►ce due on the Note. I '. �`�
<br /> •.3r;�i�=:
<br /> If BoROwer tende�s to Lender the tuU paymeat of all sums secured by this Secudty Instrument,Borrower's account shall be ,
<br /> cadited with the b�nce rem�ining for aU installmenu fcsr items (a), (b)and(c)and any mong�ge insurance premium
<br /> iastdlment that Lender has not become obliwted to pay to the Secreuuy,and Lender shaU promptly refund any eacess funds to
<br /> Bonower. Immediatety prior 10�forcclosure ade of the Propeny or its acquisition by Lender,Borrower's account sh�ll be _ ,,,.�.'
<br /> . crcdited with any bal�nce rcm�inlnQ for all iastallment:for items(o).(b)and(c). ,
<br /> 3.App1le�Uo�of P�ra�n�a.All paYments under pua�nphs 1 and 2 sh�ll be applicd by 4ender as followa: , .,
<br /> �$$T,to the mort�e Inaurance premium to be pdd by Lender to the Secrctary or to[he monthly charQe by�he Secrc�ary . .
<br /> in�tad of the monthly mort��4e Insunnce premium,UOIlfi SOrfOWtT p01t1 il�e tofl�i i�i0fi���ti:iliiilCt�TCiAIiS.T.W�St^tIll! ; _-
<br /> . . Security Instn�ment w�s ei4ned; � � �
<br /> �Q,�Q,to ony twea,speclal as�essmenu,le�ehold payments or�rou�d rents,and Gre,0ood and other harard fnsurance ;
<br /> � . premiums,a�required; t
<br /> �gQ.ro inurest due under the Note: ,
<br /> ' 1 OU ,to�monizatlon of the princip�l ot the Note;
<br /> i FIFI't{,to late chuQa due under the Note. �
<br /> +.Fln.Flood�d M�er Hasud Iu�n�ce.Borrower shall insure all Improvements on the Ptopeny.whe[her now in eaistence I
<br /> or subsequently erected,ayainst any hnards,ca�ualties,and contingendes.includlag fire,for which Lender requires insurance. , •
<br /> • Thls insurru►ce shall be m�lntalrted in the amounts and for the periods th�t Lender requua. Borrower shaU aLso insure all �
<br /> ,,� � improvemenu on the Property,whether now in exlstena ar subsequently erected,against losa by floods to the extent requlred by ;
<br /> • the Secrewry.AQ insurance ahaU be carried wlth companks approved by L.ender.The insurance policia and any renewals shaU
<br /> . be held by Lender and shall include loss pay�ble clauses in favor of, and in a form accepcable to,Lender. 1•
<br /> � In the event oi loss,Borcower shall glve Leader immMlate notice by mail.Lender may make proof of loss if not made prompt• ,
<br /> r.''� �' '� ' ly by Borrower.Bach insurance company coneerned is hereby suthorized and directed to make payment for such lass di rectly to
<br /> j ••�"i��`.; ' Lrnder,instead of to Borrower end to l.ender jointly.Al1 or any part of the insurance praceeds may be Applied by Lender,at its � •
<br /> �''�"• � � o tion,elther(a)to the reduction of the indebtedness under the Note and this Securily Instrument,first to any delinquent ti
<br /> ,.�„��;i�; . •'�,;� amounts applied in the ord�:r in Parngraph 3, and then to prepayment of pdncipal,or(b)to the rcstoredon or repair of the �
<br /> �'�'' ' damaged propeny. Any applicntion of the proceeds to the principal shall noc eztend ot postpone the due date oP the rnonthly �
<br /> �•:� payments which are referred to in Paragraph 2,or change the anount of such payments.Any exeess insurance procads over an .
<br /> , • • , ' amount required to pay all out�tandinQ indebtedness under the Note and this Securfty lnstrument shall be paid to ihe ent ity legal• ., ,�
<br /> , ly entided thereto. � .
<br /> � � In the event of foreclosure oi this Securhy Instrument or other transfer of Nde lo the Properry that eatingui�hes the im •• , �','�
<br /> � debtedness,all rlght,dtle and in[erest of Borrower in and to insurance policies in foree sh�ll pass to the purchuer. ,
<br /> � S. Pnserv�tfo� pad Mdnleoance of Ihe Property, Le�ue6old�. Borrower shall not commit waste or datroy, damage or ,�
<br /> substantially change the Propeny or allow the Property ta deteriorate,reasonable wear and tear eacepted.Lender may inspec�
<br /> � the propeny If the propeny is vacant or abandoned or Ihe laan is in dcteult.Lender may take reasonable action to protect and
<br /> praerve such vacant or abandoned property,IP this Security Instrument is on a leasehold,Borrowrr shall comply with the provi•
<br /> �ions of the ka+e. If 8orrower acquires fee Ulle to the Praperty,the leasehold and fce title shall not be merged unkss Lender
<br /> �ras to the merger fn wrltinQ.
<br /> 6.ChuRer lo Bortow�er��d Proteello�ot Le�der's Rlxhls U the Property.Botrower shall pay all governmental or municip�l
<br /> charges,fina and imposftions th�t are not included in Paragraph 2.Borrower xhall pay thtst obligations on time directty to the
<br /> entity which is owed ihe paymem, It t�llure to pay would adversely af(ect Lender's interest in the Property,upon Lender's re-
<br /> quest Borrower shall promptly furnish to Lender reccipts evidencing these payments.
<br /> If Borrower tails to make�hese payments o�ihe paymen�s required by Paragr¢ph 2,or fafls to perform any other covenants and
<br /> agreements contained in this 5ecurit�Instrument,or there is a legel proceeding that muy significantly affect Lender's rights in
<br /> the Propeny(such as a pra:eeding in bankruptcy,for condemnation or to enforce laws or regulations),then Lender may do and
<br /> pay whatever is ne�:essary to protect the value of the Property and Lender's rights in�he Property,including paymem of�axes,
<br /> hazard insurance und other items mentioned in Paragraph 2.
<br /> Any amounts disbursed by lender under�his Parograph shall become an additional debt of Borrow�er and be secured by tnis
<br /> Security[netrument.These amounts shall btar interest frorn the date of'dlsburament,at the Note rote, and at the op�ion o(
<br /> Lender,shall be immediately due and payable.
<br /> ' 7.CoademnaAon.The proceeds of any award or clafm for damages,direc�or consequentfal,in connectiun with any condem•
<br /> " • natfon or other taking of any part ai the property,or(or conveyence in place of condemnatfon,are herehy axsigned end shall be
<br /> • paid to Lender to the extent of the full amount of tl�e Indebtedness that remalns unpaid under thc N��t�and�his Securit y Instru•
<br /> , • • � ment.Lender shall apply such proceeds to the reducdon oP the indebtedness under the Noie and this Security Insu umen t,first�o
<br /> any delinquent omount�applied in the order provided in Paragraph 3,and then to prepayment of principal.Any application of
<br /> the proceeds to the principal shall not extend or posipone the due date of the monthly paymenls,whirh are reterred to in
<br /> ' �' • � paragraph 2,or change the amount of such payments.Any excess proceeds over an amoum required to pay alt uutstan�m�m•
<br /> � ' ' � . debtedness under the Note and Ihls Security Instrument shall be paid to the emity legally rntided thr.eco
<br /> . .
<br /> � . • d.Feee.Lender may collect fees and charges authorized by ttae Sectetary.
<br /> P�hP?nl 4
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