|
. I ';Y i_ ,� . �,.�� �� �.,�.,_., ..._ �
<br /> i . <r . �. j ,. _ . . - - � --
<br /> p � . �Y�Hlb �'d4`hk� r..y. �-.. . ' __'
<br /> . .... . ..
<br /> , ,.
<br /> , » , �
<br /> �h , ' , Y' _ 9•t y � ^ .'. ----_.. - - �-�.
<br /> . k•' •
<br /> ��' �,r �:7: '-�s � �N - ^ic
<br /> _� .
<br /> � �• ,� ....� . . '�"'.. .. : . .', `. : ., ,� • . .. _� _...__
<br /> '
<br /> � . I
<br /> .y.r.�...�^ � �..'.... .
<br /> . ..�-.,..mi __`�a�'ws-,C�Y_.ir - . . , _ _ ___ _ _-.--__
<br /> �.'Tl___._—_.-
<br /> ���y� �_'ff.�:.L S..-._�,.
<br /> Yhf[f/17f1:n•niI--=_-..
<br /> 91- 1026�6 ��`::��
<br /> i 1.hl�l of M�d�l.l�l�n�l�1 L.�u CMup�Norrow�r�hdl pay whon 4uo the principd af,Aod Immo�t on,the dobl ` LL� �
<br /> �...�.�`:�----�---
<br /> wid�nced by the Note�nd I�te char�a duo under the Naa. �_-
<br /> 1 . ., ' -
<br /> ' ` 2.Mo��Mly lh��na of Tiva,lucunan�ad OtM�r Cl�rya.Borrowu�h�ll Includa io e�ch mon�hly p�yment,to4ether wUh �rF
<br /> -�-^:,:
<br /> „ ;;� ' : tha prindpd�nd Intera��+�ha Ph in the ble�hold'p�yments or��ound�renu�on the Pro�perty�and l►iprem umscfor �` `• .�-�t...._,�°'--`
<br /> ��� • levkd or to be levlc��{aintt op�Y�( _
<br /> ":,, � insunace required by P�ra�aph 4. �=_,:---
<br /> �i� � � Etch monthly In�tallment for iiem:(�).(b)and(c)�hall equal one-twelfth of the�nnud amaun�a,aa reaconobly eztimatcd bY __=___—_ - �""--"-"�
<br /> ��` Lender.plu�Rn amount�ufifcient to m�inuln nn wdditiontl bal�nce of not mora thRn one-iixth of the atimated amounu.77rc __
<br /> full wnual unount for each itan sMU be ucwnul�ted by 4ender within a period ending one month beforc aa item would "'-
<br /> ' . � beeome delinqueat.Lender sh�U hold the amouau collected ia tnut to p�Y items(al,(b)and(N beforc theq become deli�quem. �W`_=.�`s
<br />�" ' � � !f u�ay Ume the toul of the p�ymeau held by 4ender for Nems(al.(b),�nd(c),toQether wlth the futurc monthiy paymems �—
<br /> ��u�;'=-�=�—
<br /> for sucd items psyabk w Leader prlor ta the due dates ot such items,exceeds by more than onasiath th�estim�ted+unoum oi ---- . . �,,,,�
<br /> pay�prnts roquircd to pay such items when due,and if p�yments on the Note are curnnt.then Lende�sh�ll either reiund t6e 'r�'Y-�.�-',--:;�;��.
<br /> ''� • ' axcas over one-aiutb of the esdmated payments or credit the excas over ooe-siuth of the estimated paymeats to subsequent ; ••�-
<br /> � �'� ��� s • paymenu by Bonower.at the option of Borrower.If the total of the paymenta mAde by Borrower fo�item(+�1,(b). or(c)la � .,:
<br /> �``��� ;� ' � • in:ufflcient to pay lhe ltem when due,the�8onower shall pny to l.eade�any amount necessary to mai�e up Ihe defickncy an or �"•�:;.,
<br /> li�,�
<br /> `, • � � . beforc the date the item becoma due. ;�,���_ �;��;Y;;;
<br /> �-.rr;;t,r,'.%f.: . � .. n
<br /> � '� �t:�•�� • As wed la tWs Secudty lnstrument, Secretary meu,s the Secretary of Housin�and Urbnn Development or hts or her +�;� ,.;:-_ v,„•
<br /> ..�,;: ..;
<br /> � dai4nea.Moat Security instrummta insured by the Secreury are insured under pro4rams which requlre advance payment of the �, . `.•�u��y�
<br /> ' entlrc mortgage imuru�ce premlum•1t this Secudty Instrument(s or waa insured under a pro�am which did not require advance ,�+�������A
<br /> ,:; _. payment of ihe tnUre mort�e iiuuraace prrmium.then eacb mopthly ps�yment�haU also include either;(i)An installment of Ihe ti,�.,.�
<br /> � . aanuaf mort ege inturance premium to be paid by Lender ta the Secretary,or(U)a manthfy charge imte�d of a mort8age �� �, ,'��:::-�n•_•
<br /> •� '' •� insurance premium ii this Secudty Instrument Is hdd by the Secrctiuy. Each mont'hly in�a!lment uf the mortgage in�uranee � • "�y�
<br /> ' � � premium shall be in an amount eufficient to accumula te�he full annual monpage lnsurance premium with Lende��ne moMh , -
<br /> �• �•��.• � prior to the date the tuU annual mortgage insurance prtmium is due ta the Secretary.or if this Security Instrument 9s held by tqe , .; �
<br /> � •�i'� ��.,��. Secretary,each moathly charge�hall bo in an rmoura equal to one•twelfth of one-half ptrcen�t oi the outew�ding prinef�wl ,�,:. ,;�
<br /> ,,::•,�'•�. ••''' . balaace due on the Note. I •'�•.,� . .:�. ,. ---•
<br /> � I ,y,�,.. .,a���.,:.�L
<br /> ;,+ . '':�,;,, , � � '� I(Borroaer tenden to Lrnder the fuP payment ot all sums secured by fhis Socurity lnstrument,Bonower's account shall be � ,�� �'
<br /> . �;•.�,,, : •°':j%;�' credited with the balance tem�ining far all instalhnents ior ieems(a), (b) and(c) end any marigage insurance premium � 1_:fl;
<br /> •� ,:��'•�:�•'.���f•'� inatallmant that Lender has not becoroe abligattd tn pay�o the Secretary.and Lender shaU prompUy�efund any excaa funds�o � � �"•-..�..;,,;
<br /> ' • �'''�i:, �9r . ,.,S•r�; Barrower. Immedlatdy pilo� to u Poreclosur¢aafe of the Propeny or ita ocquisidon by I.ender, Bonower'a account�hall be h , - - .
<br /> � ' �. � �. ' '�, credited with any balAnce remaininQ tor aU insta0ments for items(a1,(b)and(c1• � '•+ � -
<br /> :- :ti ��•t`rd` ,t �. ti Il,' �.�,�
<br /> � , I '� ' t;• .
<br /> • ��� ,`.�;�;r. . :;,,i�� � • � 3.ApplluiUas ot Pqneus.AQ pAyments undcr pataBrapha 1 and 2 shall be appfled by Lender as follows: ��•�; , �"!���'.."��
<br /> . �......... . .. . °
<br /> � _ ,� � �.c� a�he mor[g�te insurance premium to be paid by Lender to the Secretary or to the monthly charge by the Saretary � •:� �,-.:
<br /> , .---�„f;.;....,,.�--,- , .,.,..��_, -___
<br /> .. � instad of the monthly mortgege imurance premium. ualess Borrower peid the entire monQage insurance prem{uN when this � �-.,;,;;,�_
<br /> Security Instrument wes signed; ,�_ `=
<br /> �ECOND,to any taxes.speclal awa:mrnts,kasehold payments or Qround rcnls,and firo,tlood and other hezard imura�ce ` ,.A,_.—
<br /> . prcmiums�w required; I , �y�:.
<br /> r , ' , �jgQ,to interat due unda the Note; j ��
<br /> �� ` • FOURTH,to atnoniratbn of the principal oi the Nate: i �±�
<br /> .. �,to late cha4a due under thc Note.
<br /> , �.
<br /> . 1,Fln�F'lood ud OIYer N�M luun�ce•Borrower�hall insure all{mprovements on the Propeny,whether now in e�istence , �• f.
<br /> or subsequently erceted,a�inst any bazardi,casuahfes,�nd contfnQencia,includin�fire.for which I.ender requires in�urance. ;.
<br /> ' * This insunncx:hall be mdntained in the omounu and(or the pe�iods that Lender requira. Borrower shdl also imure all •
<br /> improvemrnts on the Propeny,whether�ow in existenceo��ubsequently erected,a8alnst lou by flooda to the extent required by ^}
<br /> the SecrctuY•AU insurance ahml be carried wflh companks ppproved by Lender.The insurance policies and�ny renew�ls shdl ; � �•,tl
<br /> ba held by Lender and:hall include loss payable cuusa in favor of,pnd fn a fomn acceptable to,I.ender. ;-
<br /> In the event oi lou,Bortower shRll give 4ender immodlate notice by mail.Lender may m�ke proof of lass ii not m�de prompt• .
<br /> ly by Borrower.Each inaurana comp�ny concemed is hereby authoriud and directed to rnake payment tor:uch loss directly to
<br /> ' L.ender,instead of to Bonower and to Lender jointly.AU or+iny pan of the insurance procads may be AppUed by Lender.a1 its
<br /> ' optlon,either(o)to the redua{on of the indebtedness under the Note and this Secudty Insuument, first to any delinqurnt �
<br /> amountt applied in the order in Parwg�aph 3,and then to prepayment ot p�incipAl,or(b)to the restoration or repsdr of Ihe '
<br /> damaBed property.Any applia�ion of the praceed�[o�he principal�hell not extend or postpone the due dote of the monthiy
<br /> ' payments which ue referred to in Paregraph 2,or change the amount of such paymenta.Any eacess insurance proceeds over on
<br /> � amount rtqufred to pay all out�landinQ indebtedneu under Ihe Note and this Security Instrument shall be paid to the entity le�l- . �
<br /> , ly entiUed thereto. �
<br /> • In the event of forcelosure of this Security Ins�rument or other transfer of titte to[he Propeny tha� extinguisha the In• � _
<br /> � ' ' debtedness,all right,title and interest of Bortower in ond ta insurance policia in fora ahall paas ta the purchaur. � •
<br /> • 1 5, prnen�tion wd Mdntenaoce of 16e Propnty� Laaeholds. Borrower ahali not commil wnste or datroy,demage or , �
<br /> � � aubstantially chenge the Propeny or allow�he Property to deleriorate,reasonable wear and tear ezcepted. Lender may inspect ,
<br /> � the property if the propeny is vacant or abandoned or the loan fs in defsult.Lender may take reasonable action to protect and
<br /> praerve auch vACant or abendaned property.If lhis Security Instrument is on a leasehold,Borrower shoil camply with the provi- '
<br /> � . sions of the lease. If eorrower acqulres fee titk to the Propercy,thc leauhold and fee title shall not be merged unless Len�ler �
<br /> j �rees ta Ihe merger in w�itfn4. '
<br /> 6.Cb�a lo Bomowerpnd Proteclloo ot Lender's IUghU In Ibe Property.Borrower shall pay all governmental or municipal
<br /> chuges,Ona ond impositions that are not included in Paragraph 2.Borrower shall pay[hese obllgatlona on time direclly to�he
<br /> • entity which is owed the payment. It fuilure to pay would advetsely nffect I.ender's interat in the Property,upon Lender's re-
<br /> � quest Borrower shall promptly furnfsh to Lender receipts evidencing these payments.
<br /> r If Bonower fefls to make theu payments or the payments reyuired by Paragraph 2,or fafls to perform any other covenants ond
<br /> + agreementa contalned in this Security Instrument,or there is a legel proceeding that may significantly afkct Lender's rights in
<br /> � the Property(such u a proceeding in bankruptcy.for candemnation or to enforce laws or regulatinns►,then Lender may do and
<br /> � poy whatever fs necessary ro protect the value of Ihe Property and Lender's rfghts fn the Property.includinY payment of taxes,
<br /> I h■�,�d ineorance and other items mentioned in Puagroph 2.
<br /> � � Any amounts disbursed by lender under this Peragrnph shall become an additfonal debt oi Borrower and be secured by this
<br /> Security Instrument.Theu amounts shail bear interes�from the date ot disbursement. at�he Noce rate,and at the option of
<br /> Lender,shall be immediately due and payable.
<br /> 7,Co�deoiallo�.'�'t;t p:,aceeds of any award or eYaur Eor dam�ges,doreca ar:rr.saqu:ntiao,ir.conner.zon w:�ar.y condem-
<br /> : na6on or ot7�er taking o f any put o(the Property,ur far conveyarta in p�a.e of mr.�emnation,are htreby assigne�i a�d sh�ll be
<br /> paid to Lensler�r the ca¢rnt of the tuo➢amount of the indebtednas that rem�ins unpaid under the tia�:e and this Securiiy In�ru-
<br /> � � ment.Ler.da:�ha01 a�fv eucM pracads to ahe reductionoi the indebtednns under the Note and this Security Instrument, firs+tu
<br /> any delinquent Amounts app0icd!n the ard�r provfded in Paragraph 3,and then to prepayment o(principal.Any appluat�on of
<br /> the proceeds to tlie princip�l sh7ll not eatend or pustpone the due date ot the monthly payments, which are reEerred to in
<br /> Puagraph 2,ar change the amount of such payments.Any ezcas ptoceeds over an atnoum required to pay all uut�tanding in-
<br /> debtednas under �he Note aad this 5ecurity Instrument shall be paid to the enuty kgallY enutled �hereto.
<br /> �. t.�as.Lender may collect iees and chuges authariud by tAe Secretary.
<br /> Pate?01 I
<br />
|