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<br /> � f.Ppy�ttnl o/l'tiuciptl�(pLlIYSI RIl(,4ete Gh�rgr.UUi�OwCf 1I1IlII p11y w11CI1 filll`IhC{��I�1C1pAI UP,u�tid Intcrest on,thc dcbt _
<br /> cvlc�cnccd by Ihc Notc and latc chargc�due undcr thc Nute,
<br /> - ,,-,.... ._ �,M1lnalhly Peymegte ot'1'�xea�laauranco wnd tithe�Cha�c�.t3attnwer ehnll include{n ettch inunlhiy��ayn�ent,tagethee w1U► -
<br /> - tho prinrlpal anci inteiest s.+set toreh la the Nate an�nnY Intv chnr�ea,an inatallment aF any(u)ti�xcs iu�d epeciul:LSSCSSI11RI115 � . . .. . ___
<br /> icvled or to Go Irvleci again+t ehe l'ropeny. (b) Icaseliol�l paym�nts or ground renu an tNe Property, nnd(c)ptendums for
<br /> _ –_ �— lasuranca cc4ulrcd bY Narc�rnpii 4. �s. _.__._.- -.. . _�
<br /> ' ' 8ach monthly inatailment for Items(n),(b)and(a)ehnllc�uttl ano•�wclith of thc nnnunl umuuuts,as reasonably estimntca by
<br /> i .
<br /> Lender,plus an umount sufticient to mulntaln an additlAnal 6alnnco of nol tnarc thnn nnasixth af thc estimnted nmounts.The
<br /> � f1�Q nnnun!nmount for cach itene shall bn accumulnleel by Lendcr within n pertud eiul{ng nne month before an item wauld
<br /> • became dcilnquent,l..endcr shall hold the nmauntA collected in tn�sl to pny Items(o).(b)and(c)before thoy become dclinquent.
<br /> IP nt nny timo tha totnl�f thu pnyments hcld by I.endo�fbr itema(ti),(b),and(c�,Iogcther wlth Ihe i'uture monthly pnyments ,
<br /> Por euch Items puynbt��to l.andar prlor to tha dua dnte�oi's��ch itema,excceds by more ehnn onrsixth 1ho esUmated umaunt ot'
<br /> pnymcntn tcqul�cd to puy euch i�ems�vhen duu,nnd if pnym�nts an the Note nro currcnt,then l.cndcr ehnll cither refund tho
<br /> excess over�ne•slxth of tiio estimnted pnymente or crcAlt tUa excess�ver ono•sixth oP the estlma�ed puyments�o subsequrnt
<br /> ps►ymente by Borea�ve�,at tha optian aP klorco�Yer. li thu totetl of tha qaym�nts mndo Ny Hnrrawer far item(�),(b),o�(c)Is
<br /> � insufficicnt to pay the itcm whcn dua,thon No`�owcr shnll pny to Londcr cu►y amount ncccssary to mnko up tha deficicncy on o�
<br /> ' bc6ore thc datc thc itcm bscooacs duu.
<br /> Ae used In this Secutity lrzttt�nu�+t, "Secretary" meAUa the 5ecretary oP Huusinp And U�bAn Development or his or hor I
<br /> designeo,Mo�t Security Instru�^�ents h�surec!by ehe Secretnry itrc�nsured under prog�ams whlch rcqulre ndviuicc pnYt»ent of iho
<br /> cntlte mortg�e insu�ance premium,lf thlc Srcurity Instrument is or waa insured undcT n progrRm which dici not rcqtdre ad��anc:e
<br /> payment of tho entire mortgnge insurnnce premium,then c�ch monthly p:�vment shnll also includa cither:(it nn installment af�hc �`
<br /> annual mo�tgoge Insurnnco premium to be pntd by l.ender to the Secretnry, or(ii)a monthly cht�rge Instend of a me��tgnge �
<br /> insurance premium if ihi9 Secudty Instrument is hcld by cAe Secretnry. �ach monehly instalimem uf 1he mortgnge insuranGC �
<br /> premlum sl�all be i�an nmov.�t s��fQclem ta nccumulute the Putl annua!mortg�go insur�nce premium with l.ende�ane month ,
<br /> prior to thc dotc tho tull nnnual mo�tgaBC insurnncc premium is dua to the 5ccretfuy,ot iP thls Security Instrument is held by Ihe ;
<br /> Secrettuy,each monthly charge shnll be in�i��nmoant eqnal w ano-twelfth of on.°•hali percent of the�utstandinp prinGlphl ,
<br /> balancc duo on tho Note.
<br /> lf Borrawer tendera to Lender the full p��ment of sil�ums secured by this Security Inst�ument,8ort��tier's account shtlll bo
<br /> credited wUh the balsnce remnining for nll instpltmencs frr items (u), (b) nnd (c) and any mortguge insuronce premium
<br /> installment that Lende�hcts not become obligated to pay to the Sec�etary.and Lender ahall promptly refund flny exccss funds�o
<br /> aorrower. Immedlntely prlor tu a I�oicclosu�a sule oP the Pruperty u� its acqulsitian by Lender, Borrower's accaunt shfll)be
<br /> ctedltcd with any buluncc rcm�lning for all Installments for items(a),(b)nnd(c). �
<br /> 3.Apyl�c�st0an o!P�y�erta.All paymcnte under ptuAgruphs 1 and 2 shnl)be npplied by l.ender as follaws: • ,
<br /> �Ii�ST,to 4hs mangase in�urnt►ce premium to he paid by l.ender to:hC Secretury ar ta the monthly charge by tho Secretary .
<br /> insteAd of the montrty mert�agc inaurunce prcmium,unicss Ba�ru�ver pald thc enti�e mortgage insu�ancc premium when this
<br /> _ SCCU�ity Instnmicnt wos signed;
<br /> -r- --- – ;E:�.3!n,t3 any ta;e:,a�eia!sssesssnent?,�!'�el�old nnvmems or ground re�ts,nnd fire,iload and other hat.urd 1nsuTance
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<br /> premlums,a.v required; , .
<br /> THIRP,to inte�eat due undcr the Note; .
<br /> ' FOU T ,to amanlzution of thc principal af the Nate;
<br /> `— ' ----- °t:'I'Y.�iB l�tC Chslg°9'!•.!P a!l�1r�Ihe Nnte. . -
<br /> � q,Flre,Ftood aad Othcr Hp:ard Insurnnce.Borrowe�shnll insu�e all impravements an thc Propeny,�vhethcr aaw in exlstence
<br /> ar subsequontly ercctcd,�a8�lnst o�y hivards,casunitics,nnd contlnBcncica,including fire,ior which l.ondcr�equiros Insutance.
<br /> This inauruncc shnll bo mulntalned In tho nmaunts and far the periods that I.c��dcr rcquires. Horrowcr shall also insuro c►11
<br /> improvements on the P�aperty,whether�ow i�existence or subsequently erected,aBainst loss by floods to the extent requlrecl hy
<br /> tha Secretary.All insurance shall be cnrricd wilh campanles npproved by Lcnder.The insurance podcies nnd any rencwals:�h�ll
<br /> be held by 4ender and shall include toss payuble cluuses in Pavo�of,and in a Torm ucceptable to,Lender.
<br /> !n thc cvent of lass,Borrower shnll give I.endcr immcdiatc notice by mall.l.endcr may makc p�oof ai lass lf nat mada prompt- ,
<br /> ly by Borra�ver.Eaeh insu�unca company cancented le hereby authotlzed nnd directed to make payment for auch los.s directly to
<br /> i.ender,instead oP to eorrower n�d to Lcnde�iointly.All or sny part of the insurunce proceeds may be applied hy l.onder,at its
<br /> aptlan,either (a)to Ihe rcductlon of the indebtedness undcr thc Note and this Securlty lnstrument, firat to any dclinquent
<br /> • �mounts applicd in the ordcr in Pnrugruph 3, and then to prepayment of princlpal,or(b)to the restoratian ur �cpair oP the
<br /> damaged propeny. Any t►pplicntion aP the proceeds to the princlpal shaU nat extend ot postpane the due dnto of the manthly ,
<br /> payments which ere referred to In Paragreph 2,or change the amaunt oP auch peyments.Any excess insurance procecds over an
<br /> • ' � amount required to pay all autstt+nding Indcbtedness under the Note and thle Securlty lnstrumcnt shall be paid ta the entity legal�
<br /> � ly entitled thereto.
<br /> In thc ecent of forcclosu►•c of' this Security ]nstrumcnt or other iransfer af title to the Property thut cxtin�uishcs the in•
<br /> debtednese,nll�ight,Utle and Interest of Borrower in and ta insurance policies in force shall ps�ss to the purchasar.
<br /> S, pteservaqan pnd Ma3ntenance o1 the P�opertY, deaseQolds. Borrower shall nat commit waste or desiray, durnage or
<br /> aubstantially chAnge the Property or allaw the Propert.to deteriorate, reasanable wcar and tear excepced.Lander may inspect
<br /> � the property if the property is vncant or abnndoned or ehe loan is in default. l.ender may take�easonablc actian ta protect and
<br /> preserve such vacant or abandoned properry.lf this Sccuri�y lnstrument iy on a►easchold,Burrower shell cumply wlth thc provi�
<br /> gions oi tho Ieasc. lf Borrowet acquires Pee title tu�he Property,�he leaschold and fec title shall not bo mergcd unlcas Londer
<br /> �. agrces to tho mcrger in wriiing.
<br /> 6.Chargea to Oorruwer and Protection o1 LendePs Fldqhts in ihe Property.Borrower shall pay all gove�nmcntpl or municipu)
<br />� � charges,fines and Imposidons Ihat are not included in Paragraph 2.Borrower shall pa}•these obligations an time direc�iy to the
<br /> � endty whi:fi is owcd the paymene.IP failure to paY w�uld advcrsely affcct Lender's intcrest in tha Aropehy,upon Lendet's re•
<br />; quest Borrower sh�li prumptiy furnielt to�ender receipls evidencin�these r�ymems.
<br /> li Borrower falls to make ihese payments or thc paymcncs rcquired by PArapraph 2,or fails to perform anY othcr cavcnants and
<br /> agreements conteined in this 5ecurity Instrument, or ihere is a IegAl proceedin�that may signif3cantly nffect l.onder's righth in
<br /> tho Property(such us a procecding in bank�uptcy,for condemnation or to enforce laws or�egulutions),then l.onder mny do and
<br /> pay whatever is necessary ta protect the value of the Prope�ty and Lender'9 rights in the Proper�y,including pAyment of tuxes,
<br /> t�azard insurancc nnd vther itcros meationed in Parugrnph 2.
<br /> Any amounts disbursed by Icnder under this Paragraph shall hecome un additional debt of Aorrawcr und hc securcd hy this
<br /> Security Instrument.Thcsc amounts shull bcar intcrest Gom the date af disburscment,at the Notc rate,and nt the optian o(
<br /> L.ender,shnll be immediatcly duc nnd payablc.
<br /> 7. Condemnatlon.The procecds ol any award ur clnim far damages, direct ar consequential, in r�mncunun��ith anY rondern•
<br /> nndon or olher taking oP any part of the Property,or far conveyance in place of eondemnntion,are herehy a5sipned�nd shull bc
<br /> pald to Lender to the extent of�hc full amount of thc indebtedness that rcmains unpald under the Nota and ihia Se�urity Insvu-
<br /> ment.l.ender shnll upply such praceed+�o the reduction of the indebtedness under the Note and this Security In�irumcnt,firti�ta
<br /> uny deUnquent amaunts npplied in the order provided in Pnragraph 3, and then ta prepayment of principF�l.Any application of
<br /> the proceeds to Ihe principai shall nrn extend or postp�ne the due date oP the monthly payments,which iuo referred to in
<br /> !'nraeraph 2, or change the:►mount of such paymenu. Any excess procecds c�ver an Amount required to pay�II ouis�atidinEt im
<br /> dcbtedncsa undcr the Nntc und this Sccurily Instrumcnt shall be paid to thc entity Icgaliy en�iUcd thcrc�o.
<br /> 8. f'ees. l.ender mny collect fees tmd charges aulhorir.cd by Ihe Secretnry. _
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