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<br /> �� TO()ETHER WITH all the improvementa now or hereafter erocted on the pmperty. and ali easen�w�. rl�hw, _.
<br /> � q�ute�wncp,r�et�.royaldes.mineral,oU and Ras r�ghts and prot3ta,water righu ard atock utid�II flxturea row or IKraiAer�
<br /> p�rt of tAe pmpoety.All rcplx�oentc and qdditionc�Iwll alco be�rovercd by this 3avrlty instrument. Ail of the fot+e�ola�ir
<br />.�--— _ nfarred w in�bis Socurity Irwuument w the"Praperty.�•
<br /> -�� 80RItOR►ER COVENANT3 tlwt Bocrower is lawfully aeisod of the estate hercby convryod ond ht�Ihe right w QrAnt�td °
<br /> c�onvey the Prope�ty u�d that tho Property ir unencumberad. oxcept for encumbrancea of ra;ord. Horrower wamnt�+ud w�ll
<br /> __ __ ---�� deferd Qenernlly the dUo w tlw Property�dnet all clairtw and danandi.wbjaK w pny encumbrances of raourd.
<br /> 1. Payment of Priacipal,Inta�t�ed Late ChprQe.Borrower�iu�ll pay when dua tho pr�ncipel of.wd interc�t on.tha
<br /> debt avldencod by the Note�utd Iwte char�a due under�he Note.
<br /> � 2. Monthly P�yments of Taxa, Inwranoe aad Other Clwr�a. 8arrower shall incivae in euch rnonthlY paYment.
<br /> -= taQcther with tlw principol and inte�+ect a�cct Porth in the Noto w�d ony Iwe ciwrgcs. on ins�allmcnt ot�ny(u)tnxes and speciai
<br /> —� �cses:ments leviad or ta be Icvlod aQoinwt �hc Properry. lb) Ic+�re�haW paymenw or�rwmd rentr on tho Property. end(c) -
<br /> v- prcmium�fur iiwurwae requirod by paraynph 4.
<br /> _,—i P.�ch rtwnihly in�ollmenl far itettu(u),(b).wnd(c)rhnll equal one-twelfth af the annupl anx►untr. ec rea�atuibly estimutod
<br /> by Lender,plus an w�xwnl aufflcfe�t ta nu�inlain qn wlditi�mol bal�nco nf ruu more�hon one-Kixth nf�he exdmatal anwunts.The
<br /> full anrwol �utKwnt for each Ikm rlwll bo�cumulwted by Lender within a peiia! enJiny�«ne mim�h bePi�re an item would
<br /> -. bocc�me deliaqw�t. Le� �i�ll hoid tho Mnounto �Iloctod in trurt w pay item� (a). fb). and(c) boforo [t�ay beoomo 4
<br /> •-�, delinquent.
<br /> =•=°""�ti�! lf at any time �ha total af thc payments held by I..ender for items (o), (b), und (c), together wfth the iuture monthly
<br /> `",� payments for such items payable to L.ender prior to the due dates of such items.eacYeds by more than one-sixth the estimated
<br /> -�—°;'_���' amount of payments royuirod to pay such items when due,and if payments on the Note are curren�, then Lender ahall either
<br /> __�;,,= rofund the excxss over one-aixth of the estimstted payment�ae cre�it the excegs over one-aixth af the estinwted payments to
<br /> ---° �'` subsequent payment�by Borrower.at the option of Borrowcr. If the total of thc payments made by Borrower for item(a),(b).
<br /> ,-.-�_ � or(c) is insufRcient to pay the item when duc, �hen Bortower shall pay to Lender any omount neceasary to rneke up the
<br />,�;�:� deficiency on or before the data the item becomes due.
<br /> .I:�iA:.' .
<br /> �=�- As uced in this Securiry Inurument, "Secretary" means the Secretary of Housing and Urban Development or his or her
<br /> _�;� � designee. In any year in which the l.ender must pay a mongage insurance premlum to the Secremry. each momhiy puymr��i
<br />�,ri�' ahall also include either:(i) an installment of the annual mongege insurance premium to be paid by I.ender to the Secrewry,or
<br /> . .:,4 - (ii) a monthly charQe instead of a moRgage insurance premium if lhis Securiry Instrument i, held by the Secretary. Each
<br /> ��,. � monthly installment of the mortgage insurance premium shall be in an amount sufficient to accumulata the full annual mortgage
<br /> �"•�r• insurance premium with l.ender one month prior to the dute the full annual mongage insurance premium is due to the Secretary.
<br /> � �- or if this Security lnstrument is held by the Secretary, each monthly char�e shall be in an amouM equel to one-[welfth of
<br />�.a:e:??�,. .
<br /> --- one-holf percent of the outstanding prineipal balance due on the Note.
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<br /> —_- If Borrower tenders to Lender the full payment of all sums secured by thiw Security Instrument,Bortower's account shall
<br /> `�`'"��' ������ be credited with the balance remuining for ull installments for items (n). (b), smd (c) und any mcxtgage insurance premium
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<br /> -- -- installment that Lender has not became nbligated to pay to the Secretary,and I.ender shall promptly refund any excess funds to _
<br />-°"''"`~'` ' Borrower. Immediately prior to a foreclosure r�►Ic of the Property ur its acyuisition by L.ender, Borrower's account shnll be
<br /> --l� credited with ony bs�lu�c�e remaining for all installments for items(a),(b),and(c).
<br />-�_�a' 3.Applicatbn o[Paymenls.All payments under parogrAphs 1 and 2 shall be appiied by C.ender us follows: _
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<br /> '� • First. to the mortgage insurance premium to be puid by Lender to the Secretury or to the monthly charge by the Secretary
<br />�:�;,�,;:, instead of the monthly mortgnge insurance premium; _�=-
<br /> -�;:;��,:�• Second,to nny taxes. special assessmenta.leasehold payments or grouad reMs,and 6re, flaa!end wFier haxard inaurenoe ��
<br /> '-��' premiums, as requirod:
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<br /> � Third.to interest duc under the Note; _
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<br /> Y�;F�w ` Fourth,to wnortization of the principal nf the Nate:
<br /> _ ' ', Fiflh. to late chuges due under the Natc.
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