|
. .
<br /> . ... . . . , , .. �� ,
<br /> . . . . ,
<br /> `` . • ��,. • ' - - ,
<br /> J� '�` � -=�-s
<br /> . ;
<br /> __; .....
<br /> . _._.__. b. ' . _ _.
<br /> 1_. ._"'_'_'` .
<br /> :_-�t
<br /> �1F�, �.0�059 - - -:-, -_- . =___
<br /> 1, �'�ymeno o!Pdaclpxt,interesl end I.�ta C�nr�a Hrr�c��vcr�I►ull pny��fian dua�ho prinripnl��f, and intcrest�+n.Uw dcb� � , . .
<br /> cvld�nccd by tho Nat�nnd Into�hn�gc�duc undcr tho Nntc. ' ; -
<br /> . 7.MonlAty p�Yment�o17'e�:a,IneaMnca�nd 111her CHasgca.Uorrn�vc��I�all luclude In cach ma�uhly puY�»cnt,tagalhcr wiih .
<br /> lho p�inc(pal nnd intetcst aa ect fanh in the Ni►tc and any(alo churgvs,an i�utaUmenl a��ny(n)u�xre nnd+pcclnl nsersvncn�� �, ,. :. '
<br /> -� .. . levtcd or tc+b�Icvicd agalusl �he P�aperty, Ib1 lea�ch��l�t pAymcnta ur ground rent���n Ihe Praper�y,�nd�ct prcmium� far .':
<br /> ------ � - ----
<br /> _ _ Insurnncc rcqulted by{�aragraph A.
<br /> fiach mqnthly Installment t�r itcros(al,(a1 unA(c)shnll equnl onc•lweiflh al tho annual umouu�a,�a�ca:.}n7btp csttmat�d by - �- .-
<br /> � I.andcr�plus an amount suiGcicnt ca maintnin aa�t�idttionel Eei�s�co of itoi most tAsn on�-slxth ef thr esti�nnted umuwtte,'fhc � _.
<br /> � full annunl amnunt iar each Item shnll be accwnul�►ted by Lender within a perio�.1 endin one m�mth before un Uem�vauld ( „ .
<br /> ' became deflnquont.l.enJer ahnll hold tha�maunts cofkcted In trus�ta pay Itenu(a1,(hl A���l�)hefaro they becoma dellnqur,nt. �
<br /> If et uny timo tho tatal of thc payment�hcid by I.cnde�far itcm�(a),(b1,nnd(c)�tagathcr with thc futurc m4mhly Qaymcnta
<br /> fbr such itcros p�►yable ta 4endcr prlor tn the due dntes of such itemq,cxcced►by more Ihan onrslxth ihe csifn�ated amvw�t aP
<br /> � pnymants rcquired ta pay such Itcmo�vha�duc,nnd iP paymcnte oa thc Natc arc currcnt,Ihcn I,cndcr shall ci�hc�rrfund tho .
<br /> excess over�ne•sixth of the¢sdmated pnYmeuts or c�edlt the crces�avor anr.•stxth af the estimnted paYments tn suhse �+ent
<br /> pay�ncnts by Sae�awcr,nt the opdon of 8orrowcr, If thc tota) oP tl�o p�Ymcntv mndc by Bur�u�vcr fbr Itcm(n),(b),ar�cl is
<br /> ' inguffirient to pay tho item when due,ehen Horrower shnll pAy ta Leiider uny umount necessnry to make up ihe deticiency on o�
<br /> boforc tho datc tho itcm bccomcs duc.
<br /> Ae used i�� thia SccuNty Inst�umqnt, "Secrctnry" mcnns thc Sccccinry oP Housing and UrUan Devclapment ar his o�her
<br /> dcsignrc.Most Security Instrament9 iasured by the Sccrotary nre Insured under pragrams wMch require advnnce puyment oP the •
<br /> entis:martgago i�surancr premium.IP this Sccurity Instrumcnt is or was insurcd under n pragram�vhich dfd nat requirc advunce
<br /> pAyment ot tho enttrc mortg�gc insarnnce premium,then ench mo�uhly puymcnl shuU alsa includc cithc�:(i)nn installmcnt ai thc ,
<br /> �nnunl mong�ge insurance premium to be pnld by Lender to the 5ecrcta•y. or(ii)a monthly charge ins�end oP t►mottgage
<br /> • insar�►nce premium if this Security Instrument is held by !he Secretnry. Eiuch monthly instnllmeot oP the mongnge Insurnnce
<br /> prcmium�hall be in an umount sufficicnt to nccumultite the full nnnual mottgnge Jnsurunce premium with Lende�ane monlh
<br /> prior to tfie dntc the full nnnuul mortgapc Insurnnce premium Is duc to the Secretary.or if this Sccu�ity Instrumcnt is hcld by ti�e
<br /> , Secretary,cnch manthly cha�ge shall i+e In an amaunt equal to one-t�veifth of one-half percent oP the outsta�ding princip:r.! I , ,
<br /> bnlance duo on tho Natc. �
<br /> Ii'8orrower tanders to 4ender tAe full pAyment of sA sum,9 secured by thle Secu�ity Instrumrnl,Rona�ver's acc.�uni s�nn�r
<br /> credited �vith the balance remAininA for all installmr.nt� for items (a), (b) nnd (c) Nnd any mortg3ge insurnnce premium I .
<br /> I�staUment thnt Leader haq not become oblignted w�ay to tho Secretary,nnd Leade�9ha11 pmmpUy refunct any erccss iunds to I .
<br /> Borrowea Immcdiatcly prior to u Porcclusure saln uf ihe Propc;rty or its acquislHan by Lenslar, DortaFVer's t�ccaunt shall bc !
<br /> crcdited wtth any balanca temaining for all installments for items(a),(b)and(c). � -
<br /> �.Appltc�ttaci of AwyrueaGr.All puymenta undcr paragraphs !And Z shall be applied by l.ender as follows: ' � �
<br /> �SS,to thc mortgago insurancc prenium to be pald by Lendcr ta thc Secretary or to the monthly chutge by thc Sccret�tr}• � �
<br /> instead of Uiv monthly mortguge insurance premium, unless Borrawer paid the enlire mortgage Insura�ce premium when this `
<br /> Security Instrument was sig�ed;
<br /> S Ct) �to any taxes,special assessments.IeASehold payments or ground�ent5,and fire,fload nnd other ha.n�d;nsu►nnce ; ,
<br />____ __ _ pse�iu:�s,ns reauired: i �, _ _ _
<br /> TkllRD,to intcrest due undcr thc Note;
<br /> FOU T , to amoTdztrtlon of thc principal of the Note; •
<br /> ��,to late charges duc undcr tho Notc.
<br /> --- I q,Flm,Fl�ad wnd Older Haaard insurance.eorrower shaii insu�c aii impruvomcui�on ti�o i-iuN�n3.�r���:�:��3n��lst�r.c�
<br /> ar subsequently erected,agatnst any harards,casualties,nnd cantingencies,lncluding fire,for which Lcnder reyui�es Insuraace.
<br /> 'fhis insurance shall be muintalned in the omounts and far the periods thut Lender rcqulres. Borrawer shall ulso insure nll
<br /> lmpravements an the Praperty,whcther now in existence or subsequently erected,ngainst loss by floads ta the extent rcquired by
<br /> the Sccretary.All insurence shall be carricd with campanies uppraved by Lendcr.The insurance paNcles and Any�e�ewals sh:+ll
<br /> be held by Lendc�nnd shAll include loss pAyAble clauscs in fovor af, and!n p f'orm acceptable ta, l.endc�,
<br /> In the event oP loss,Horrower shnll give Lcnder immedinte notice by mail.l.ender mny make prooi of lass iP not mAde prompt- �
<br /> ly by Honawer.Fiach lnsu�ance company cancerned is hereby authorized and dirccted to make payment for auch loss directly to
<br /> i.ender,inatead of to Borrower and to l.cndcr Jointly.All ur eny part ai the insurunce procccds may be applied by l.cnder,at Its
<br /> . optio�i, eithcr(�l to thc�eduction of ihe indebtcdness undcr the Notc and this Security Instrument, Pirat t�any dcllnQuent
<br /> � � nmounts npplied in tho ordet in Puragraph 3,and then to prcpayment af principal,ar(b)to the�estoration or repair oi the
<br /> damaged prapartv.Any applicatlan oP the procecds ta the ptincipAl shall not extend or postpane the due dflte oi the manthly
<br /> amunttrequir d ta pA>eall outtundingend b cdne.s.hunder tt e Note and this S c uiiiy Inst ument sha I be paid to thc cntity legal•
<br /> , ly entitled thercto.
<br /> In the event nf fbreclosure of this Security Instrument or o�hec uunster af titk�o ihe Properey Ihat exiinguishes the im
<br /> . debtedacss, all right,ti�le and interest af Borrower in und�a insurt�nce policies in tarce shall pass ta the purchaser.
<br /> 9, PreservpUoa aa� Malnten�ace af ihe P�opeMy. Ixasehalds. 8ortawer shall not commit waste or drstray, damage or .
<br /> substantially chnnge the Property ar allaw the Prope�ty to dete�iarqte,reasonable�tiear and tear e.rcep�ed.Lender may inspect
<br /> tho propotty if the property is vacant or abandaned or the loan is in default. Lender may take rracoaable Aetion to protect anc!
<br /> preserve such vACant or abandoned p�opcny.lf this Security Instrumem is an a leasehold,Horrowc�shall cotnFly with th:pto�i-
<br /> sians of the lease. lf Borrower acqulres fee title to the Prapert>•, ihe leasehold and fee ti11e shall not be mecEed unlass Lender
<br /> aarees to the merger in wridng.
<br /> 6.ChArges ta Bc�rrower and P�atection ol4ende�'s Rlghts in Ihe Fropecly.�orrawer shall paY all gove:nr:�ental or municipal
<br /> charges,fines and impositions thut are not includeci in Paragraph 2.Rorrower shall pay ihese obligations on time directly to the
<br /> enflty which is owed tho paymcns.if failurc to p�y would adverscly aifcct I.cnder's imerese in ch:P�operty,upon Lender's rc-
<br /> qucs�Borrowe�shnll promptly Purniah co Lendcr receipts cvidrncing tticsc paymen�s.
<br /> IC Horrower faiis co makc thcse paymout,or tha paym..nts requir;d by Para;ra,!:2,ot fails�o�erfnrm en!+pther covenants and
<br /> agreements contained in this Security Instrument,or�hore is a legal proceeding chat may significantly affect Lendot's�ights in
<br />- the Properly(such as a p�ocecdinp in bankruptcy,for candemnation o�►o enfor;e I�ws ar regulations),then Lender may do and
<br /> pay whatover is necessary to protect the valuu oP the Property and Lender's rights in the Propert�•,includinp payment of taties,
<br /> hazard insurance and uthcr items mentioncd in Para6raph 2.
<br /> Any amounts disbursed by Iender under this Pura�raph shall become an additionnl debt oP Borrower and be sccured by this
<br /> Security lnstrumcnt.Thesc Amounts shull hear ime�est Prom che datc af disburscment,at thc Note rate,and at the option of
<br /> Lender,shull be immedistely duc und paynble,
<br /> 7,Condemnotlon.The procecds ot nny award or claim for dumnges,direct or eonsequential,in connectinn wi�h any condem-
<br /> nation or ather takin�af any pan aP the Properry,a�for conveynnce in place of condemnuUon,ure hereby assigned and shall he
<br /> paid to Lender to thc cxtent of the Pull amount of the lndebtcdness that rcmains unpeid under thc Note and this 5ecurity Instru-
<br /> ment.Lender shaU apply such proceeds lo Ihe reduction of the indebtedness under the Nme and this ticcurity Ins►rument,first to
<br /> nny deUnqucnt nmaunts applied in Ihe ordcr provided in Paragrnph 3,and then to prepayment of prinripnl.Any applicaUnn of
<br /> the proceeds to lhc principa! shull nm cxtcnd or paslponc thc duc date of the monthly pnymcnts,which urc rctcrrcd to in
<br />! Puragraph 2,or change the amount u(Such payments.Any excess proceeds over un nmotmt required io pn��all owstanding in-
<br /> debtedncss undc�thc Note nnd this Sccurity Instrument shell bc paid Io thc entity Icgally entitled lhcrcco.
<br /> 8,i'ee9. I.ender may callect fees und chnrges nuthodr.ed by Ihe Secretnry.
<br /> I'a�e 1 n/a
<br /> 1
<br /> :
<br /> � _ _
<br />
|