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<br /> 'TOCiSTI�R Wl'TH tll tUe,iinpravecnenes no�►or�iaattar erocted oa tl�e popectY.and slt a�ements�ri�hb,
<br /> � . ippu�teronoee.r�ate►rariltiee!.miAayt.0�7 aad pt ri=hta and peaG�r,�rater ri�h�aad atodc aad dl�artc�e+e�zw�r or .
<br /> • bec+aita a part ot`the pl»pa�tg.All nplaoetitettb a�additio�al�alt atao be c�vered by tl�ia Security Ieswrt►en�A(1 ot
<br /> � thetore�oia�isrderredtointhiaSavritytnstrumer�tasthe"Ptaperty.°. . .
<br /> . . BORROWER COVENANfS tl�aat Borro�rer is Izwinlly seised of tt�e esate hereby�anveyed uid h�the ri�ht to
<br /> , �aat and ooavey the Froperty aad that the Proptrty_is uor�cumbered.eucept f,oc er�cumbranas oi rocord.Barroxer ---
<br /> +rarraats aad�+vit1 deiet�8�enerallq the title ta the Ptoperty a�inst atl ciaims and demands.subject to any et►cumbnnoes �
<br /> f of rxocd. ' ` . `� .
<br /> _ ` � 1.Pt�ymeat of Psiaeipd,Iatareat and I�te Cbarse.Borro�er stnll p�y when dtie the principal of..and interest � ' _ _
<br /> — � an,thedebtevidencedbytheNouandtate�t�reesduauade�thcNota.. . . ---_
<br /> _` - — . ` 2 Moatbiy Psymeats of Tuss, Insnrance and OtLer C6ss�es. BotrnMer sLa11 include in ach montt�lp -�=—
<br /> -�-' ' paxment�together xith the princip�l and interest�s set forth ia tt�Nou and any lat�char�es.aa ins�allment of aay(s) �-,�:W�� �
<br />' _ taxe's snd spacist ase�smeats l�vied or to be levied apinst the Propertq,(b�leaselwld paymeats or Eround re�on the F.�.,-_�_-
<br /> � Pmpecty.aad(c)Ptemiums for insucana tnquired by P�8!aPh'� . �s
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<br /> F.sch monthlY i�allmeat for iums Ia),(b),md(c)shall eqwl one-cxelitb ot tbe annual amounts.as rasonably ' . "<�,.��,.:=_--_--
<br /> .i`_-
<br /> -- estimsted by I.eader,plus an amount�cient to maim�ia an additional bala�x,e of aot more thsn one-siYth af the , . ,_�;,-':==_
<br /> estitnatea amounta The fuU u�aoal smouat ior each item st�a11 ba aavmi�istod by Lea�r aithin a period ending one -
<br /> �nonth b�torc an itetn Roold bxome det' Lender s1ai1 hotd the amounts oollected in trust to psy iums(a),(b), � - V=:�`;.±
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<br />;� ud(c)betore they beoome delinqtxn� � . . '�`--=•::%r_
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<br /> = ' � If at any time the total ot the psyraeutsheld by I.ender fot items(a),(b),and{c),togetlxr witt�the fut�m monthly ;�
<br /> ' ls.-.;
<br /> . __=,.=,-�, payments foc such iums payable to Leader prior to the due dates of soch items,ezceeds by more than on�siath the �� �`=_.. � —
<br /> ="�': '>, rsqinsud aniaunt of p�nyments iequired tb psy such items when due,aad if payments on the NTote ate cunent,Nen
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<br /> y'�" �` ,I�ender sball either-tefund th�ezce�over on�si:tt�of:the eatimatod yments or credit the exce�over one simh of the � ��-
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<br /> ,�, ,��_�:-:;`•" estimated gsyments to subsequet►t payments by Bori+aWec,st the option oi Borrowec.Ii the total of the payments made ' �
<br /> , ;�s��:'� : �., by Borrower ior item(s�,{b),or(c)is in4uEficient w pay the item when dve,then Borrower shsll psy to Lender any � y���
<br /> � ��'r::� _<, i, _p.,
<br /> �,�. , a�aountneces�rqto:aalceuptl�edercieacyonotbeforethedsuffieitembecomesdue. .::, . ...�;��
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<br /> - ,?�"". S , • As�ed in this Sacurity lrutrument."Secrctsry"means the Socratary of Housang aad Urban Development or his or ° � �,
<br /> ` her designoe.In any year in which the Lender must pag a mortgage inswance giemium ta the Socntary.each monthly � �� �. �..'_..•�-
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<br /> �•:'�� .� °�l Y' paymeirt s t�s ri a l s a inc l u d e eit her.(i?an i n's t a l lment o l t he tru►ua l mortgage insurance premium t o b a pai d by L e n dec t o �
<br /> t?' '�'��° ' ' '` theSecretary,or{;i)s monthly chst instead of a mort insu� ium if this 3ecurity Instrumentis held b tiie .: f • .-
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<br /> F�,� ��{�r`=��. .. � 8� SsSe Pl'�► y
<br /> � ,�t s t � Secretary.Fsch montlily installment of the mortgage insurance premium ehall be in an amount suificient w accumulate: . �,.., ':�
<br /> �'z-�.1� �t�'=:,�-' '� the fuU annual mortgsge�nsuraace preminm with Lender one nionth pciar to the c�aze the full annual mortgage insurance ���<:��:'�.'
<br /> �f`�s �;. , I�:rF.,,;:� •
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<br /> � '����`<`�`�'��'� ' ium is due t o t he S e c c�e t a o r i f t h i s S o c u r i t y I n s t r�e m e n t i s h e l d b y t h e S e c r e t a ry,e a c h m o n t h l c h s h a l l b e i n ;t;�'?;;,'{.s � -
<br /> :�j���{;,,'r�. :. :F ., prem rY. Y � ,�d?::+'::':.:
<br /> . � . �5i t . an amount c qual to one-tweltth of onefiatf percent oi the outstanding principal balance due on the Note. ���;+;;•, . . �
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<br />- �`�:=, `,� ��"; �� 1f Borrower tenders to I.ender the iu11 payment of all sums secured by this Security_lnstniment.Borrower's account � • . �
<br /> �;i �:b�:4'.::. ;.. •. ' � .: ..
<br />_ .���j�::.i:, _.` , shail be croditod with th�bslance remaining for all installments for items(a).(b),and(c)and any mortgage insurance : •�;.;.� _
<br />. _ gx+emium installment that Lender has not become obligated to pay to the Secretary,and Lender shall promptly refund �� .
<br />, , ��+�. ��'. , any�excess funds to Borrower. Immediately prior to s�forxlosute sale of the Property or its acquisitton by Lender. s �`- -��-
<br /> ., ,,� F. .,� . '" Botrower's a�vunt shall be credited with any balance remaining for all installments for items(g),(b).and(c). . �. : .. .
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<br /> .=�.1. 3.Applicstion of Psyments.All paymentss under paragaphs 1 and 2 shall be applied by Lender as follow� ,,,.
<br /> :i-:�....;�.:;•`. : • ;"'?r;;t�s
<br /> �� �':-�..•; �' Pirst.to the mortgaga insurance premium to be paid by Lender to the Secretary or to the monthly charge lsy the !� ��"::'. '
<br /> '�'° ' '� SSecretary instead ot the monthly mortg,aga insurance premium: ! . . .... .
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<br /> -- ''=�:., � �� Saoond.to any taxes.special assessments,leasehold psyments os ground rents,and Cr�.ttaad and other hszard � �.
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<br /> � --;;��_�.. insurance ptemiuma,as required; , �.. . �
<br /> "'�.'•� Third.to interest due under tha Note;
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<br /> '"``• " ' ourth,to amortizatio�of tAe principa3 of the Note; � � �� �'� _
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<br /> ;�r�-;.� .,� :. i tR.to tstoch�rgea due under theNors. � - -
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