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<br /> �`' �`' 10214 0
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<br /> ' - 1.p� 1 oi P�'f�elpd�1�1aes1 nd Lu�C�e.H°rrower fluH p�Y whm due the ptinci�ptl ot,u�d interat on,the debt
<br /> ,.. �v{denc�by the Note�nd iate charQa due unda the Note.
<br /> �-.,.•-' ' �M��,ti�p p�T��Ip���q�L'w�.Borroxer�haU includa in e�ch monthlY p�yment,toQethet with �"`
<br /> the prindpd Rnd interat as set forth in the Noto and�ny late c enuaor �ound reeu�an hc Pra�pmY�+md(pc�prem ajm efo�
<br /> . levled ot to be levkd�ain�t the PropertY.(b)le�ehold paym =_
<br /> in�u�►nce requ[red by Par�raph 4. - -
<br /> ° Each roontdly instaUment for item�(R),(b)�nd(e):hdl eqwl one•twaltth of the�nnud unounn,aa rrwmsbly ealim�ted by ��-t-Z�%��" -
<br /> ' � L,ender,p�u�an unount sutflcient a maintdn�n Addidond tMl�ace ot not more than one•dath of the estimated�maun��.The �`�—�—�
<br /> - „ fuU�nnwd omount for cacB item shaU be accumulated by Lender Within a�xriod endlnp one manth before an iltm would �__ __. _ 1
<br /> bacome deUnquent.Lender:hdl hold the amounts coUected in tru:t to pay itrnu(a),(b)�nd(c)befora they become delinquent.
<br /> .t:�-
<br />,..•� �� If at any Uma the toul ot tho ppyment�hcld by Lander for items la),(b),and(c),toQether wltb�he Puture manthly paymeot� ��
<br /> ' tor tuch item�(wyabla to Lender pdor to the due dua ot such itemi.exceed�6Y moro than one•eixth the estimuted amaunt of r,.�_.��
<br /> ' p�yments rcqulred to pRy iuch(tema when due.i►nd iP paymeats oa the Note are cunent,[han l.ender shall dther refu�d the >�.�,_�4�_�
<br /> excas over ana•sGcth of the esdmated pay�aacrtts or credit tha excess over oae•9ixtA of the atimated pAyments ta subsequent �, ��:_
<br /> p�ymenta by Borrower.�t the option of 6onower.lf tde total of the pannents made bY Bottower far item(a),(b),or(c)ia . .,,;�„,;
<br /> iwui'ticieat ta paY the item wr6en due.tArn Bwrowsr afaU pay to Lendec mY�a��1'to make up tha deflckncy on o� -__ _,_ ..��������- :'
<br /> � bePore the date!Ae item bocomes due. -
<br /> •• ������u��y�ns�����•�Sec�etary,° mzam�s t�e 5ecretary of Housiag and Urban Devalopment or his or her �_
<br /> desi�ee,Most Secudty Iastruments insurcd by the Secretary a�e dn�u�e�i under proarama whicb rcquire advance payment of the =_
<br /> � enWe mo�t{ate iusurance Oremium.Ii'ihis Secudty Inytzument!s or was an9ured under a program which did�ot requir.:advu�ce _______
<br /> payment of the eMire mort�ge inaurance premium,then eath moathlc payment ihall olso include either:(i)an installment oi the E!'R_`-r_� :
<br /> •i;;f�,'�•i'���ti+ ���on�e iasuraaa ptanium to be paid by Lxnder to the Secretary,or(ii)a monthly charge instead of a monRa�e __---�_
<br /> .;,�,:,;_v.�;�.�ri� insurance premium it thi+Security Instrumeat i�held by the Secretary.Each moatdly imtallment of the mong�ge insunince m_��?ut.;:,.; i
<br /> ����i;;,f,,. premiwp yh�ll be in an�un1 sufiicient to accumulate the full annual morte�e iasurance premium with Le�der one mo�th _;„t;�;,����,_.
<br /> F��'•1� pdor to the Aa�te�he fuli annua!mottgage insurance premium ia due to t'hc Secretar�,or if this 5ocu�ity Instrument is held by the _•;•.;_,�
<br /> . „•, �a
<br /> Secretary,each monthly chu�e al�sdl�e nn�n rmount aqual to one-twetiif�oi one-half percent of the outstandin� pdncipal ��'�-`-� -
<br /> �r.�,. l.;in�•
<br /> • bd�nco due on the Note. 1 s, �� 'f
<br /> ' `J�.�•`--
<br /> � ')�;,; If Borrower tenden t���nd2r the fuA payment of aU sums secured by thia Securl�cy 7mstrument,Bonower s account shall be , ,}�___.
<br /> •� credited with the ba4m�e rcmaining tar all instoUmmts for itemt(a), (b)and(c) and any mongaQe insuran�x �remium .�.r-
<br /> inctaltmeat that Lendar ha�not become abllgated to pay ta the Seeretary,ond Lendxr shaU promptly refund any eacess funds ta ,+��
<br /> ' Bortowet. Immediately pdar to A forcelosure sale of the P'ropeny or its acquisldon by Lender,Borrower's account cMll be . ,_,� ti:.;:;, ,
<br /> �� � ' crcdlted with any balance remainln for all instaUmenu far items la),(b)and(c). � - '�•�"' �
<br /> . "� . ;: ' 1°'�;;f,',:s a �''�' ',�'' ,
<br /> ����'� ' tlo�ot P�yme�u.AU paymenb under paragraphs 1 and 2 shall be applied by Lender as foliowa: �' :
<br /> t 1 . '!''tt,,,,.�, .. 3.Applk� , � •
<br /> ; '�!` � ��,, FIRST,to the mort¢age in�uronce premium to be pald by Lender to the Secretan or to the monthly chuge by the Secretary � f „,�f ' 'k
<br /> ; "�'`'� � 'rtgs��� inatead of the montdiy morig�e fnsurance premium.unless Horrower paid the entire mortQeQe insurance premium whan this ���,�1/;},�� .7'Ty ��
<br /> + �:`r•.'.;' '���y,�J . `' Secu�ity Insaument was�igned• • ..f.. . � ,
<br /> 'I',ti.,,,.� .,�.�t�l.�{�t31.6b:�'::�- •,,
<br /> °^.r.;;-•�•,5,;,,-- �i��Lmapy Iillp�ipeclul�rall�iiilti�leasehafd yaymcnis cr groand rents,and firt.flc+o!#And other hrrard insurance �ti'�i"�-,- - .--��►
<br /> ,�, .. prcmiums.xsnquired: ��s' , .'•���
<br />'���� �'^ �,�.to interest due under the Nate: .r�." ' •����f'�'``,'�""
<br /> I I`. t,.,
<br /> ,,,„ ., FOURTH.to amonizadon oP the pdncipal of the Note: t'•�'��,. '�:;j,:s �'���`�
<br /> •,:�•.':,��� �,to late chuges due under the Note. � . }•�}'��` ^r
<br /> ;,;,�,.., ''ti,;�,��
<br /> � • 4.E7re,Eload u�d Olher Huiudl�sanwa.Borrower ahall insure al]improvements on the Propeny,whethcr now in e.+clnen.e 1 i f�:!`�,,;��"{
<br /> �: or subsequently erected.a4aimt any hor,ardc,casualties,and contingencia,including tire,for whkh Lender requires insuru�ce. (� '��� �' �
<br /> ' This iasuraaca shaU 6e m�ntained in the amounts end for the periods that Lender requires. Bonower shall also insure all • �4��•� •
<br /> ,,.., ,.
<br /> • improvements on the Propeny,whether now tn existence or subsequenUy erected.against lou by 1loods to the eatent required by I __
<br /> the 5�cretary.AU insurance shall be caMed w(th companies approved by Lender.The insurance poUcies and nny renewah shall ::-
<br /> be held by Lender and shaU include lou payuble ciauses in iavor of,and in a form acceptaWe to,[.ender. • '-` :
<br /> j �•' __
<br /> In the event of loss,Borrower ahall sive�ender immediate notice by m�lt.Lender may make proof of loss if not made prompt- , .
<br /> ly by Borrower.Fach insurance company concerned is hereby authoriz�d and directed to m¢ke payment for such lou directly to , ;.
<br /> ' ' Lender.instead of to BoROwer and to Lender jointly.All or any pari af the inaurance proceeds may be applied by Lender,at its i : a�.•
<br /> ' option, e it her(a) to t he r e duct ion of the indebtedness under the Notc and thia Secudty Instrument, first to any de�Jnquent �`����;�"
<br /> � ;-;t•%��• amounts applied in the order in Peragraph 3,and then to prepayment ot'pdncipal,or(b)to the restoration or repalr of the , .
<br /> " � � ' dama¢ed property.Any application af the proceeds to the principal ahall no1 e.�tend ar postpone the due date of the mon[hly :,_
<br /> ,�,'";t'j��;„� � payments which ue refened�o in Paragraph 2,or change the amount of such paymen�s.Any eacess insurance proceeds over an �
<br /> • �nount required to pay all outstandin�indebtednas under the Note anr!tfiis Security Instroment shall be paid to thcentity le�al• � '�• '
<br /> :i:!i}rI� t
<br /> � , � ,. , ly rntiHed thereto. �� ,-��f•"
<br /> • � '�'"--`� In the event of forcclosure oi this Security Instrument or other iranster of Utle to the Property that exdngulshes the in- .��. �,.��i,)�:
<br /> � debtedness,all daht,title and interest of Bonower in and to insurance policks In force shall pass to the purchasa. , t�,'',!.�;'�•,.
<br /> � ° S. PrewrwiUos ud M�latenuce of tUe Prope►ty. I.ea�ebo�ds• Eortawer shall not commit wute or destroy,dama4e or � �.;''%��'�'�'�
<br /> � ,�.
<br /> aubstantially change the Propeny or�Ilow�he Property to deteriorate,roatonable wear and teat exrepted.Lender may Inspe�t "�'`�'��"'�
<br /> the praperiy lf�he ptopeny is vacant or Abnndoned or the loan is in default.Lender may take reaxonable action to protect and �
<br /> , prcserve sucA vuant or abandoned propeny.If this Secudty Instrument is on a leasehold,Borrower shall comply with the provi• �'��, �
<br /> ' sions o!the lesue. If Borrower acquira fa title to the Ptopeny,Iht lea+ehold t+nd fee title shaif noa bt merged unlas Lcnder
<br /> ' Yatea to Ihe merIIer in Kritin�.
<br /> i,Ch�t�es lo Borrow�t�aA Prolecdoo ot Leader'a Ri�Yb la 1Ae PQapetly Bortower aS�ll pay a11 govecnmentaC or municipal ,
<br /> chargea.fines and impositions that are not Included in Per�grarT::.Barrower shall pay these obligation+on time d'vectly to the �
<br /> entity which is owed the payment. If fulure to pay would adversely a�tftct Lender's interes[in the�:�+perty,upon Lender's re• i ;
<br /> '. , . quat Horrower shall promptly furnish to Lender rece�pts evidencing 73�ese payments.
<br /> " � tF Borrower falls to mak¢ehese payments or the pay�a:tnts�equirsd by Paragraph 2,or fails to perform any other•cs�enanls and
<br /> agteements contained in this Security Instrumeni,a*Q ahere is a lega!proceeding�h�[may significantly atfect Lere¢tar's rights in
<br /> the Ptopeny(such as a proceeding in 6artkruptcy,for condemnuiun er to enforce laws or regulauonsl,�hen Leoder may do and
<br /> � ; pay whatever is neeessary to protect the value ot the Property�nd Qtr.der's tights in the Propeny,including payment oi taxes.
<br /> ha�ard insurance and other ilems mennnned in Paragroph 2.
<br /> � � Any amoants disbursed by lender under thfs Pangtaph sh�became an additional debt ot'Bonawer and be secuted by chis
<br /> c..�..Rev Invn,mem.Thae amounts shall bear interest iram t[te date of diaburaement,at ehe lVae tate,and at the oqion of
<br /> Leedei,shafl be immedintely due and payable.
<br /> � T.f.s+temuUoa.The proceeds of any awurd ur rluiin fur d��u►g�K,direct or wnsequennal,in�unnection wiih an�•rondem•
<br /> nation or other takin4 of any pan of 1he 1'roperty,or for conveyanca�n place of condcmnation,arc herehy assigned and shall be
<br /> paid to Lender to the entent of the full amuunt of the indebtednes5 rhat rcmofns unpaid under the Note und this 5ctiurity Instru•
<br /> ment.Lender shall rpply such pnkeed�to the reduction of the indeb�edness under the No�e and this Sctun�}•Inctrument,firxt to
<br /> any delinqurnl amounts applied in the order provided in Paragraph 3,und then to prepayment of princip�l.Any npplicaoon uf
<br /> the proceeds to the princi�+al snall not ettend or postpone the due dote of�he monthly pa>men�•. Nhich are relerreJ to in
<br /> PMra�raph 2,or ch�nQe the amount of�uch payments.Any eacess praeecls over an amounl reyuired lo pay all uw�iandmg m•
<br /> debledness under the Note and this Se�urity Instrument shall be paid ro the entily le�ally entuled�heretu
<br /> •t.Fea.Lender may collt�� fees and charQcs authori:ed by the Secretary.
<br /> Pa�te!uJ•
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