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<br /> � 94-�07 53� _°�.�=�.-
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<br /> .�!. ,, .. ,.� ,� 1. p�,�q�ot p�i�cl�sl.l�terpl�I,�te CMsrsc�.Bonower�hrll psy when due the pdncipal of.ond intercst on,the debt _,,,�,c,,,,
<br /> �vidpked by the Note iu►d late chu�d due under the Note.
<br /> _�M��y p�yn�c�p of 7�a�la�n�ee�ad OtMa�a�a�8onower:hall inciude in each monthly paymenb to4ethe�with �`�. II= _ _ _
<br /> the pdnclpal�nd intercst eu set farth in the Note and any I�te chuQea.an in�ullment of anY la)��y�dd(�prem ufinsefor �•--.I_---y� ��. -"��•�
<br /> ' • lavled or to be levled�a inst the Property.(b)lauehold paymmu or Qround rem■on the P�o _
<br /> ' lasutinee rcqui�ed by Pu+�aPh 4.
<br /> � Eacb awnthly installment for iteme(a).(b)and(c)ahall equnl one-twelfth of the annual amounts,as reasonably atimated by _— ._ __ __ -
<br /> � � ,� I.enda�plut w amount sufilcient to m�intain�a addiliond balance of aa mvice t6an one-aixth oi the atimpted amouma.The ___ ����
<br /> . iull �anwil ao�ount for eada bt�m ahpll be accwnulated by Leadtr�vEtQia A periocE ee�diag one month beforc an item.rouM --- _ �:,,:,�=---,,o�
<br /> . . b�cvme delimi9w�nc.�.endkhe aCw�U kotd the amo�eiau�cotlerted ipi teuse to pa!aaRts f�l.4�?a�'�;ca before thtY becom,e defua4uen4• -."";'t'J�', ���'r':,.•,,-�.
<br /> _,,�. . :,�� %. .c����:n�e r���ncy�ro�eacs .�;::�. � u:,�
<br /> •:�;.���; �e.��ar c��Car�wc•:he payments Aeid br 4cm�ec fa ececas�r�r.ce1.�a�o►.�Qsa, `�`: ' ,`;`r -
<br /> � �.,f ,ty,
<br /> '�'�t`°`���:{�'.�' Ge to Lcader rior to the due dates of s�cl�itec�s.eaceeds by more��+nne�s�e�l tt�e esc�ced a�na�E of
<br /> , a�� &a a�hilxmsp�yab P , .}', ,�
<br /> l..�.�,�{i�:..:;Si'�%' �:..�..:.F.i_sJ:i:"N�t.'�S{':i:"':�.�.
<br /> �� �,, rk�g<<.S+ t��,,;�,;,,:s:;,, pa�rmenn required ta pay such iteau whon due.and if pAyments on the Note are curtem.�hen Lender sP�tl eittxc reiha�the 1 s � ,s a� si�,°i.-
<br /> � �, �� ,+•��ti;r eaces�over oaa-sixth of the estimated paymenu or credit the excas over one-aisth of the estimated payments to subsequant '�,., „„t„�,,�,y;,�,
<br /> � '�"�%.t'•,.�<`° �s,?'x�,tr`' ' paymeau by BoROwer,at the option of Bonower. If the total of the paymenta made by Borrower for item(a).(b1,or(c)ia
<br /> �,:� , .;,�, �_�, . • ��`,-
<br /> ;t•.;•������•.� imutiiclmt to pay the item when due.then Borrower shaU pay to Lender any aunount necessiuy[o mwke up the deficiency on or �'"�� _�----�
<br /> ! `••'• beforo the d�te the item becoma due. ,, .riY,.�����?���,�
<br /> As u�d in this Secudty t�uument, •'3ecrenuy"mam the Secrctary of Hou:in�and Urbm Development o�his or her •�.�••�•+•••�.�•...�.-
<br /> dnijaeo.Most SecurltY lnstruments inturod by the Secrctuy are insured under pro4ram�which«quire Rdvance payment of the ;!;`�.i.;���;�C.
<br /> i entire mort�e fnsutance premium.lf�his Security lostrument i�or was insured under a proQram which did not rcquire advance �;.;;;�,:_,��,��_
<br /> , .. p�ymenl ot the entlre mon�Q iniurance premfum.then e�ch monthly p�yment shUl dso include either.(i)an inuallmen�of the , .. ,;p.
<br /> ::C'L�d.ST.i'.
<br /> � rnnwd mortoa�e insurana premium l0 6e peid by I�ender to the 5ecratuy. or lii)a monthly chxroe instead of a monQaQe k•- .=��.�+..-_=--,-
<br /> � Insur�nw premium if thi�Secudty In��rument h held by�he Secreary. Bach monthly in:tdlment of Ihe monQAQa imunna � '"�"�r
<br /> � premlum�IwU be in an amounl�uiflcient�o ucumul�te�he full�nnual mortW�a Insurance pamium with Lender ona month :�.,��.,.
<br /> �. °„ pdor�o Ihe dote the full annurl mortQ�e insunnce premfum ii due to�he Secretuy,or if tbis Security Instrument i�held by�he � =�,��
<br /> • • Secrn�ry, euh monthly chuQe�hdl be in an unount equal to one-twelhh oi one•hdf percenl of Ihe out:tpndin�principal F _
<br /> , bd�nce due on Ihe Nota �
<br /> If Bortower tenden�o Lender the full paymem of all eums secured by�hia Secudty Instrumenl,Borrower'a Account aholl be • ��f�
<br /> crcdiiM with the balance�em�inina for dl in:tWment�for Itemi (a), (b) and(c)nnd any mon��e insurance premfum r;_:;
<br /> fnst�Ument�hat Lender ha�not bocome o611�ted to p�y to the Secre�ary.end Lender:hall promptly refund any excess funds to ���.:-•
<br /> . ��•i._
<br /> 8prrower. Immedl��ely pdo�to a foreclosure sde of tho Property or ite acqui:ition by Lender,Borrower's account�hall be
<br /> credited with any balance remainin�for all inctaliments for item:(a),(b)and(c). :
<br /> 3.AppHndo�oi P�fine�ls.AU p�f'mentd under paraYraphs 1 a�d 2 shaU 6e oppited by Lender a�iollowa: �
<br /> _,.� �J+g$T.to the mortgage insurance premium to be paid by Lender to the Secretary or�o the monthly chArge by the Secretary
<br /> — iostaid of the monthly mortgage insurrn�Y p�cii�(um,unfers Sottowtr patd!he snt'ue mostpeSe Inc�irance Qremium when this � ; . ����.
<br /> ' Security Instrument was signed: •',�; � .��r.�..
<br /> ��COND,to any taua,�pecial usessments,leasehold paymenu or�ound rent�,and fire.flood and other her.ecd insurance � ;;,� '.:,.';..;`,I',.'...,., •.'i
<br /> premiums.u required� ��r.•,•:,t,,,, ��,��,'
<br /> THIRD.ro interat due under the Note; i ,_�;�..,,,��
<br /> � FOURTH,to amortf�Non of the pdncipal of the Note; � .,� �, :
<br /> �'ji.to late chuQes due unde�the Note. � a�''�:`• �'
<br /> j �,:,i.,
<br /> I,E7�e.Flaad�od Olher H�rd lawn�ace.Borcower shali insure all improvements on the Propeny,whether now in existence )' �'� '
<br /> or subsequently erected,ageinst any hatards,casualtles,and contingencies,including flre.for whkh Lender requira insurance. �
<br /> ��;,,�:, .; � This insurance ahall be meintained in the amounts and for �he periods ihat Lender requires.Borrower ahall also inaure all :
<br /> improvements on the Property,whether now in ezistence or subsequently erected,agalnst lou by floods to the extrn[required by • • •
<br /> " ;:•;;;,, ,� � ., the SecraarY. All insurance shall be carried with companies approved by Lender.The insurance policles and any renewala shaH � ;;.,�!.;;• •
<br /> .� , •• be held by Lender and ehall include loss payable clauses tn favor of,and in a f'orm acceptable to, Lrnder. '
<br /> • �• ';,� In the event of loss,Bortower shall give Lender immediate notice by mall.Lender may make ptoof ot loss if not made prompt• ti ,
<br /> , . is hereb authoriud and dlrected to make payment for auch loss directly to � "�'.','`,••�'
<br /> �� ly by Bortower.Each Insurance company concerned Y ,,, .
<br /> • Lender,iostead oi to Borrower and to Lender jointly.All or any part of the insurance proceeds may be applled by Lender,at its :'�",,,,�
<br /> option,either(a)to the reduction ot the indebtedness under the Note and this Security Instrumem, flrat to any de0nquent � `': .
<br /> amounts applied in the order in Paragraph 3,and then to prepayment of principal,or(b)to the ratoretion or repair of the ,,,;; ..:
<br /> dam�Bed property.Any appUcadon of the proceeda ro the pdncipal ahall nol eaund or postpone che due date of Ihe monthly ������ ;
<br /> ' • ' paymenta which art referred to in Paragraph 2,or ch¢nge the amount oP such payments.Any excess insurance proceeds over an � ,
<br /> ' • artwunt required to pay all outstandinY indebtedness under the Note and this Secudty Instrument shal!bt peid to the entity IcQal• t
<br /> . . ly entitled thereto. i
<br /> In the eveet of foreclosure of this Security Instrument or other transter of ti11e to the Property that extingufaha lhe im ' �.
<br /> . de6tedness,all right,tftle and interest of Bonower in and to insuronce policies in forae shall pass to the purchaser. + :•�`;:. �
<br /> S. PraenpUoa�pd Mdnten�ace of Ihe Proper1y. I.e�eebolds. Borrower shell not commit waste or destroy,damage or ,
<br /> � � substantlally change the Property or allow the Property to deteriorate,reasonable wear and tear excepted.Lender may inspect ,
<br /> ,,'' � the property if the property is vacant or abandoned or the loan is in default. Lender may take reason�ble action to protcet and ; .� �
<br /> preserve such vacant or abandoned propeny.It this Security Instrument fs on a leasehold,Borrower shall comply with the provi-
<br /> . aions of the lease.If Horrower acquires fa title to the Propeny,the leasehold an�i iee title shall not be merged unless Lender ;
<br /> aQras to the merger In wdtiny. I .
<br /> 6.Chvges to Borrower�nd Protection ot Lender'�Rlg6ts In Ihe Properly.Borrower shall pay all governmental or municipal
<br /> chuga,fines and imposf�ions that are not included in Paragraph 2.Borrower shall pay these oblfgaUons on�ime directly to the
<br /> en�ity which ia owed the paymem. If failute to pay would adversely affect Lender's interest in the Propeny,upon Lender's re-
<br /> � quat Borrower shall promptly furnish to Lender receipts evideneing these payments.
<br /> If Borrower falls to make these payments or the payments required by Paragreph"1,ur fails to perform any other covenents and
<br /> . agreements cont�ined in this Securlty Instrument,ur there is a legal pracading that may significantly afkct Lender'�rights in
<br /> • Ihe Propeny(such as a praeeding in bankruptcy,for condemnation or to enforce lows or regulatfons),then 4ender may do and
<br /> pay whatever is necessary to protect the value of the Property and Lender's righ�s in the Propetty, includfn�payment of taues,
<br /> � har.ud insuronce and other items mentioned in Paragraph 2.
<br /> ..�.
<br /> Any amounts disburced by lender under thfs Paragraph shall become an addu�onei aeo�oi norrower anu oc.�.���:.'r�����
<br /> Security Instrument.These amounts shall bear interest from the date of disbursement,at the Note rate,and at the option of
<br /> Lender, shnll be immediately due and payable.
<br /> 1.Condemn�Uon.The procads o(any award or clalm for damages,direct or consequential,in connec�fon with ony condem-
<br /> ' , n�lion or otfier taking of any part of the Property,or for coe�veyar.ce in place of condemnation,are hereby assigned and shall be
<br /> � '.; j� �tid w 1.ender to the extent of the fuli amount of fhe indebtxdness tfiat temains unpafd under the Note und this 5ecurity Instru- .
<br /> � •� , :��; ment.Lender shaU apply such proeeeds to the reduction o(t ht indtbtedness under t'he Note and this Security Instrument,first to
<br /> , �:�,..��;, , any delinqueni emounts applied ir.the order provided in Paragraph 3,and then�a prepayment of r:m:ipal.Any apqtication ot
<br /> the procetds to the principal sha11 not eatend or postpone ihe due date of the monthlv payrr.rnts, which are rrferred to in
<br /> • • , . .�� Paragraph 2,or change the amount of such payments.Any excess ptoceeds ovet an amount teGui:ed to pay ull outstanding in-
<br /> � � � debtedness under the Note and thts 5ecurity Instrument shall be paid to the emity legally entltled thereto.
<br /> 8.Fees.Lender mey collect fees and charges auihorized by the Secretery.
<br /> PaRe?oJ t
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