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<br /> -;���.T�:.:.�at.� � ���' ��i���� � �_
<br /> ��� TOClETHBR WITH �II tho improvement� naw or hetc�flcr eroctod c►n the prape�ty, and all eakrtienu, dQhts�
<br /> _- I rppu�c�wi�ea►,rcnt��roydden.mineml,ofl and Qw+�iahts and pmfltn.w�tar dghu and Mock and�II tisturea now or hero�Rer a
<br /> �_ — put of the ProperiY. All repl�oernaiu ud oddfHan��11 �I�o bo coverod by thi�Securily Irutrumau. All oP the fom�oin;b `
<br /> . — �- �:
<br /> -`-.-- — nf�errad w in ttii�Security Irwiumrns rr Iho"Properrty.•,
<br /> ` BORROWBR COV�NANTS thsn Borrowo�i�Ia�wfLlly enfe�od uY Ihe esuue hereby canveyed wxl h��ho ri�ht to�rAM uid
<br /> - �� convcy the Propeny and ttwt the Property io unencumbered. exapt for encumbnnca oP rccord. Borrawer wurmta aad wUl
<br /> —'_—__ ----`-' dofand�eneraily tho title to Ihe Fraperty aYainwt yll cluin►r u�x!deninnds.subjcct to any ctrcumbrences c+F t+eec+ed.
<br /> � 1.P�ymtnt of Princfpal,�atera�t u�d l.�te ClwrQe.Borrower sh�ll pay when duo�hes p�incipnl oi. wnd interat on.the
<br /> - dabt avidenced by the Nota and Iwe ciwrQes duo under the Note.
<br /> '�'"'� 2. Monthiy Paymeate of Toxer, It�urAnce and 01her ChaRes. Borrawer shsll include in each monthly payment.
<br /> —'-�� together with the princippl end interest as set faRh in the Note su�d any I�te charges. an instellment of any (a)taxes end special
<br /> �� assessmcnta leviod or to be levied againat thc PropeRy. (b) Ieaeehold paymenta or ground ronts on �he Property. atd (c)
<br /> -�,�a
<br /> premiums for in�urarce rc�uirod by para�raph 4.
<br /> -. :�
<br /> °°'"""'-� �ach monthly instellment for items(a).(b).and(c)ahell equal one-twelfth of the ruinual amounta.as reaROnably estimated
<br /> _=s�:�7 by Lender,plus an amount sufticicnt to maintain an additional balance of not more than ane-sixth af the estimated amounts.The
<br /> __ _ _____ —���� full annual amount for each item shall be accumulated by L.ender within a pedod ending one month before an item would
<br /> --- "� become delinquent. l.ender slwll hold the emountc oollected in tnist to psy iterns (a), (b). and (c) before tf�y becane
<br /> —_•t+ delinquent.
<br /> m�a��fs�a��� � -
<br /> ����:�� If at any time the total of the payments held by Lender for items (a), (b), nnd (c), together with the future monthly
<br /> ---�'°'-�;'l�j payments for such itema payuble to Lender prior ta the due dates of such items,excceds by more than one-sixth the estimatod
<br /> �m i emount of payments required to pey auch items when due,and if payments on the Note are current. then Lender shall either
<br /> --�=-.��=" ° ' refund the excess over une-siath of the estimeted paymenis or credit the excess over one-sixth of the estimated payments ro
<br /> -- -�z�;t'." subsequent payments by Horrower,at the option of BoROwer. If the total of the payments ma:le by Borrower for item(a).(b), _
<br /> _ ��..;��� ''�ti .• or (c) is insufficient to pay the item when due, then Iiorrower shall pay to lznder eny amount netasary to malce up the
<br /> - �•���� , defieiency on ar before the dete the item becomes due.
<br /> :�i�i�:�;,:.
<br /> _+.�.-
<br /> �j�J�} r�;.; "- � As used in this Security Insuument. "�ecretary„ means che Secreuuy ui' 8uu�iug+uxi i)�ban Developmc�t or hia on c�r
<br /> i sJ1��.I�I�iSE'GYLid17
<br /> -_� �, �± � designee. In any year in which the l.ender muct pay u mortgage insurnnce premium ta the Secretary, each monddy payment
<br /> __ �----.. .
<br /> shall also include either:(i)en installment of the annual murtgoge insurance premiurn to be paid by l.ender to Ihe Secretnry.or
<br />-�' � � � (ii) a montnly charge inatead of a monguge insurance premium if this Securiry instrument is held by the Secretary. Each
<br /> _.4��e�` .. ,:.
<br /> "��' �,�, ' monthly installment of the mortgage insurance premium shall be in un amount sufGcient to accumulate the full annual mongage
<br /> ,�r„�'r :s.,`,� `" insurance premium with Lender one month prior to[he date the full annual mortgage insurnnce premium is due to the Secretary,
<br /> _,,', � `�"•'"�'';`-"•` or if�his Security Instrument is held by the Secretary. euch monthly charge shall be in an amount equal to one-twelfth of
<br /> , �: . one-half percent of the outslanding principal bulance Jue on the Note.
<br /> _ �.:,,. �..
<br /> � , ° ± ' if Borrower tenders ta I.ender the full payment of ull sums secured by this Security Instn�ment, Borcower's eccount shall
<br /> �� � ' be credited with the balunce rernuining for all inuullments for items (n), Ib), ond Ir)uiui uny mongnge insurance premium
<br /> ° r * '� � insmliment thut L.ender hus not become obligated to pay to�he Secretnry,und LenJer xhull promptiy refund any excess funds to _
<br /> ��'•= -
<br /> � •• � � Bcrrrower. hnmediately prior t�i u foreclosure salc of the Property or its acyuisiticm by I.ender, Bornawer's accaunt slwll be
<br /> a .,�`0;; .
<br /> crodited wi�h any balance remaining for All installments for items(a).Ib),and Ic),
<br /> � • ., •.+,x:�_�.
<br />. , a:`:;�•.:��•�• 3.Applicatlon of Pnyment�.All payments under paragraphs I and 2 �hall be npplied by L.cnder us fallowc: .
<br /> . ,���';;�� Firsl, to the monguge insurance premium to t►e paid by Lendcr to the Secrets�ry or to the monthly charge by the Secretary
<br /> '- ' instead of the monthly mongage insurunce prcmium;
<br /> �r,� ,sr,�: Second,to uny tnxc�,spe�iol assexsments, leusehold paymcnts or ground rents,und fire, flaxl und other hozard insurena -
<br /> _��`� -.,-- . _
<br /> ,�,� premiums,ns required:
<br /> +�'' ; �.�,`•;` Third,to interest due under thc Note:
<br /> � ., � Faurth.to umortiaution of the principnl uf thc Note:
<br /> � Fifth,to lute churges due under the Note.
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