|
,Fi i�yw�.."'^"---'�. :�A�
<br /> •.►i�_ ,�,c. � •.Y---
<br /> _ . . `' -
<br /> . __i:..__...
<br /> .,y ' —
<br /> - -' ._._ �_. . _ _ , -!1".� .._ � - - -- .-. —..._._._..
<br /> � , � ... •.�fbiV; ~�. � .. .__�..�. .-_... .� '-
<br /> ,6 Yi�U,'." ..��,..�� . .,�.. _ ._ .
<br /> .1:,, . .e � ... �0�0�0
<br /> .1' �:4.:.t
<br /> �acii monthly installment for i�em�(A),Ib).pnd(c)shwll equwl one-tv►cli�h oi the AnnaQl amountt,as rcasonAbly es�timptod
<br /> by I.ondcr�plus an amauttt cufiicient to maintain An pdditianwl lwlAnce af no�mnre�hs�n cme•six�h of the cstfmated amounls.
<br /> ° Tha Pull Anoual amount f�r eachhloe�mt���o n�collecced nytrust to pAyht ms�1.bl.ad�d l)bePo����Y�`��i������
<br /> , � t.Y'..w�; ;' bceomo dellnquent.Lendcr chwll
<br /> ' �� � '�''�'�" If at Any time�he�otal af the�yments held by l.eeder fo�itenus lol,lb)�and lcl,�aAether with the future monthly pArinente
<br /> ,;;. .
<br /> • - ,,- �a��..t far such items pAyabl�to 4ender prior to the duc dates oi such items,exceeds by more than ono-si�th �hc esiima� amaun � Y
<br /> ��'�"°"�`'�'� oi ppymcmr requi�ed to pry such i�ems when due. and if payments an�hc Note a�e currenl.�hen l.cndcr shull cithe�refund
<br /> "`'�'�"`' the exeess over one-sixth of the ntimated paYments or credit the exccss over�ne•sixth of Ihe a�imAted payments to subsoquent
<br /> �,-
<br /> ':�;`'{.'�'` ,,.: pAymentc by Barrower,al lhe option of 8orrower. IP�he tatal oi the paymems made by Horrower fur i�cm (uy.(b1,ar !c �___: -- -- -
<br /> =_ ,�;,.�,;, i�insufficient to pay the i�em when duc,then Borrower shall paY to Lender any amount necessa�Y�n�kC up the def'icieney
<br /> . . ^ • �.:•� on or bofore thc datc the Uem becomes due. _
<br />' ' ,� ;;;;.;;-M;,�.,,. ���. Aa u�ed in this Security Instrument, "Secretury"means the Secretary oP HousinQ und Urban[kvelapment a�hic ar he�
<br /> desi��a.Mast Security Instruments insu�ed by the Secrctu�y are insured undcr pragrAms which rcquire ud��ance puyment aP
<br /> '-�� thc eatirc mortgaQe insur�ce premium. 1P this Skcu�ity Inst�ument is or wus insured undcr u prog�am which did nat require
<br />�=T advance payment of iAe entire mort�e insurance prcmium,then each maMhly payment shall ulca include eithcr:li)un instollment ��_-a-------
<br /> �� ;�;,` oi the aonual monga�e insurauace p�emium�o be paid by 6endcr to thc Secretury,ar(ifl a momhly charQe instead of a manaa�c
<br />�~ '1` ' ' incuranca premium ii'tAis Security Instrument ia held by ihe Secrctary. Each momhly inctAllment of the mortgage insurance
<br />'��� • prcmium shal)be in an amount suii"icirnt to accumulate�he i'ull annual mon�aQa insu�ance premium wfth I.ender one mantL�
<br /> ��•�,.<< ' prior to the date the full u►aual mortQage insurance premium is duc to the Secretary,or if this Security Inst�ument is txtd - �
<br />�� by the Secrctary�eacb monihiY chu�e shal�be in an am°u"�e�l�to one-twelflh of ane-half percent of the outstandin�prim:ip`►1 �--.- _�
<br /> .u��'�'." ° b a i a na due on the Note.
<br /> '��rir;�, If Barrower tenders to Lender the full payment oi'ull sums secured by this Securiry Inst�umcnt,H arroaer's uccoun t s h a 0 1 :=�.,s--.= ---
<br />�'�'f ' be c�edited with the balance rcmaining Por all ins�allmems ior items(�1.(b1.and(c)and uny mortgage insurance premium ,�L y�,,;�,;;_
<br /> • . installment tiwt Lender has�ot become obligAled to pay to the SecretAry.and 4ender shall promptly rofuod Any excess funds �;���,1
<br /> . :•.'�, Borrowe�'sa�YOUnt shall �.;.,�-�---=�
<br /> ��%'' to Borrower. Immediately p�ior to a foreclosure sale of the Propeny or its acquisition by Lender. �, :.
<br />�� . , .i�.t�?� —,
<br /> . °��.��,Y, be eredited with any balance remaining for all installmen�s ior items lal.(b).and(cl. �`��•�.,,: _ _
<br /> ., ",7;t o,i<;s�k�: � —,—
<br /> : . • �' �ht.l?;x�e.,t ..
<br /> ' � ' � 3. Applk�Uoa ot P#)•ianenis.All Paym►e�ts under paragrAphx 1 and 2 shaU be applied by Lendcr us follows: � "�' .,' �
<br />`. `r v .,�� . . --
<br /> ' i;;.�,.�� :,.:.. , First�to the martga�e ic�surance premium to be p�aid by Lender tn the Serre�s+ry or to the monthly charge by�he Secretary
<br /> . „ o,.;, ,. instead oi the monthly mortgage insurance premium.eanless Borrower paid�:�e entire monQage insurance premium when this �•. �' �•.s:,.-''`
<br /> �.;;��4. '; ., .. Secu�itY Instrument was signed: --..
<br /> ��• Second to any taxes,special assessments.leasehold payments or ground rents.nna fire.flood and othet hauud insurance
<br />.:;�LS„��,,.� ,' � . _—__—
<br /> �,.,�...�. i'rr ... ..., . . prrnliwits��s requircd� _
<br /> .�:,:,1,. y •-
<br /> • „���.;,;: , Third. to interost c�ue under the Note; °�°R�°
<br /> t { :a ., t�ar:..--
<br /> , � � Founh. to amortizaee�n oi the principal of the Note; - _.
<br /> , •.,,:�il,-`,, •:' FiFth.to late charg��iue under the Note. �'''c-°�"""�`"'"
<br /> .. .-YTir�r -°
<br /> ��},����;�;:; 4. Fire, Flood nod Olaer Na�ad lnsumnce. Borrower shall insurc all improvements or�the Propert,r�, ��hether naw io ������+�
<br /> N • '`��t;�,;. "�� ..,
<br /> existence or subsequently erected,agai:u.+t any hazards.�asuulties,��rad contingencies,includiat�Pe.for which Lender�eyuires a';r,�:� ��'+{1`,;;'-�,
<br /> insurance.This insuran�e a0�a17 be nnAi�aained in the amounts and for the periods that Lendcr requires. Bonower sha1Y also �t,,�� ,�___
<br /> .r,.,. .' ._.
<br /> • i n s u r e a l l i m p r o v e m e n t s o n t h e P r o p e n y.w h e t h e r n ow in existence or subsequently erected.against loss bv lioods to the extent i,. ,;;�;,
<br /> required by the Secretary.All insurpnce shall be carried with compunies approved by Len der.T he insuranc e p o l ic i e s a n d u n y ,r��•�;f:�,ti r,��?�`_
<br />';� „ •' renewals s4►�11 be held by Lender uncE��hall include loss payable w0auses in favor of. und in a form acceptabk to. Lenaler• ,v _;�•s;�'Sr�,rL.Y..
<br /> . ,�,;,� In the event of loss,Borrower vha4a give Lendcr immc�iiate natace by mail. Lender may make proof of loss if n�r. �reiade , . ,.��-,_
<br /> ,S . •=.;r,,�;�i,.� ' �fil{; .,_-
<br /> ��;'�;;.��.,;. :._ _.. prompUy by Borrower. Each insurance compuny concerned is he�ehy autharized and directed to make payment for surh loss . �;�1,:i;:,�,�„�.�.
<br /> �);,t� !';-���-� .� � � directly to Lender. instead of to Borrower and t4*Lender jointly, .41!or uro*Tart of'the insurance p�oceeds may be applied .,t ;s,�,�,���;;:,-
<br /> ��f�j�'� •'• ;� by Lender, at its option.either(a)t�t he re duc tior�n f t h e i n deSt�tdness under the Note and this Securita.� �nstrument, �rs� to 'r..-i��c.�:1��"';'_'
<br /> i,• •�:. �t;,F?�"�5,;�� •�`.'.•. n�d •.�•. —
<br /> - r t , any delinquent s�mounts applied in the order in Paragraph 3, :»cl ahtn�o prepayment of principal. or ak��rn the resloratian `'��+�"! ��'r��w
<br /> 'y��titj?,'";�;�:�;,f IEcation of the prucrr+;� w the principa!��:.:: not extend or p�st�ne the daee date � •ti+�� . _ _
<br /> ":f,,t���;,ti.�',�;',• or repai�oP the damaged property. Any app � '��% -,�
<br /> ��,�t_. ,,;�,�C,;:°�;;,;:• of the monthly paymen[s which are referred to in Parugraph 2,or change the amount of such payments.Any encess cnsacTAnce k .. • • }i�-,,
<br /> .'�rc,� ti���.;�,;�"' proceeds over an amount required �o pay all outstanding indebtedness under the Nore and this Secu�ity Insorumeni shall be
<br /> , ��" '+�., ,. ' pejd to the entity le�ally entitled thereto. �.
<br /> ' ' In the event of Poreclosure of'this 5ecuriry Instrument or ather�ransfer of title to the Propeny thai extinguishes the � ,. .,��. . _ -��_
<br /> �' indebtedaess, all right. title and interest oP BorroN•er in and to insurunce policies in force shall pass to the purchaser. _<<�. a�
<br /> � ... .
<br /> �1 Lenseholds.Borrow�r shnll not commit�vaste or destroy,damage or '
<br /> ��,r,; . . S. Prcservalloa Aad Maimeapnce ot Ihe Prope�lv.
<br /> substantially changr thr 3'ropeny or allow thr Prar�;:r.ty to deteriorate,rcasnr:a�hle wrar and tc�r excepteo7.Lender may inspect
<br /> . . r ma tuke reason�+ble action to protect �
<br /> the property if the pro��erty�s vacAnt or ubs+ndanc:J�r the loun is in dePauit. l.cndc y �
<br /> and presen•e such vacant or abnndoned propert�•. 8f this Security Instrument i;on a Irasehold, Burrower shaU comply with ` i�,
<br /> � the provisions of the lease. If B�rrowrr gcquires t��r eitle to the f'roperty.thc leaschold ancd B�r title shall not be merged unless f , ,.`�ti,,,.� .
<br /> Lender agrees to ehr�e�g�rc in wri�ing. , •• �
<br /> ;�:;��':
<br /> �`r.•• 6,Cl�ges 1a Bwr�.ve�and Protertion of l.en�9Cw'�1l�upls da�hr Prapen;►.�Y�orn��ver shnll pay all gu�eT�m�ental ur municipal
<br /> . charges,di�s am�i�:�snions thnt are not included�n Para&n•:���h ?. Rnrroµrr �hall pay thesc obligati�a��c�n time direcdv to
<br /> � the entitc.x 7�ir!�is��eal thc payment.1 f failure to pay���ould�+w�•:��:i}a����rct Lcndcr'�interest in�he Prupeny,upon Lender's
<br /> request Borrawer slia�� prompdy t'urni�h to Lendcr re�cipc,r�::::r.�ing thcsc ra�•men�s.
<br /> If Borrower fai�s r.,::nakc these pa>•ments ur�hc puy mem+rryuircd be P'.�ragraph 2,or f:�ily to perrorm any other covenants
<br /> und agreemeots coma�e►¢d in thi�Sctiurit��In�uument,ur thrre i+a le!�al prc�..�t�ting that may�iSnificanNy affec�Lcnder',rights
<br /> __.i..».......J...... �n.+nlnr:r[aua��r re¢tt[atlonsl. then LrnJrr mp�
<br /> �' -- --=——'- ,
<br /> in thc Prapeny(such as a proCeeaing in'vun�rupi�.. i6i iv�....�............... . _..._._.
<br /> � do aad pay wh�te�er i�s necessary ro Prrnc�c thc�alu<<�I Ihe Property and Lender'+ rr�eht:•rrr the Property,including ps►ymem
<br />, ,
<br /> of taxc�.hat.ard inyuracN:e aru3 orher itcm� mrntioned in F'aragraph 2.
<br /> i ' .,_ ' Any amounry dicl�urscd N�• LcnJrr under thi, Paragraph �hutl hc�u�n�,�n ad�i«iunal.IrM ol Hurru���r anJ hc �aurcd
<br />� b}•thia Seruri[y fmu'ument. Thcsr amoums�hall brar intcre>t trom�I��Jarc oi di�hu�.rment. :n the No�c rate, and at the
<br /> - , opti�n o1` l_cndcr. +h•rll bc immediutcly Jue and payable.
<br /> �. Condemor�ion. Tt�e pruticeJs uf an> uNard ur :laim for Jamn�e�.dire.i ur camcyu�ntial. �n :onn«uun anh um
<br /> �ondemnation or olher taking ol'am part uf the Pronert>.ur for r��mryan:c in p�a.r�'f cuodcmnuuun,are hrrcM a+.iKn��i
<br /> and+hall be paid to Lendcr to ihe r�tcni ut�he lull •rmount at �he indebtcdn�ss that rcmaim unpatd ut�dcr th�ya�c and thi.
<br /> Se�urity Instrument. I_ender .hall apply.uch rr�xeed+to the rrdu�tion af thr indcbtednr++under thc!`�nr and ihi.ti��.unl>
<br /> Instrument.iirst to an�dclinyuent•rmuunt�appiicd in the urder pra�idcKl in F'aragraph 3.and then t��prrpa>ment�,t prm.i�al.
<br /> .. ,. r,,r::... � ,
<br /> . � � 1
<br />
|