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<br /> 1, p�yme�t o�Princip�l�Intenrt�nd Late l:lu��e. tiorcower riwll p+ry when duc the principal of,wui intercat on.
<br /> the debt evldenced by thc Nute w�d late chArgcs due u�xier the Notr.
<br /> 2. MoQtlhly p�ymenb ot'lyxn,lnwr�nce�nd Other Ch�r�es. Barrawer shal! include in cr�ch manthly paymcnt,
<br /> together with the princi�l and intcrcst as set forth in the Notc ond any late charges,un in�tallment of any(�)u+xes�uxi
<br /> speclal assecsmem�kvied or�n be levled�gxinu the Property,lb)leuchold�xyments or ground rcnts on tt�e PropeRy.+�nd
<br /> (c)prcmiums for insurw�cc reyuimd by ParAgnph 4.
<br /> A Farch monihly inxtalimcnt for items la), Ib;wnd (c) shall eyunl ane-twelfth of the annual umcwnt�, as reusonably
<br /> j �ti`�-`� ` estimatod by I.endcr, ptus an amcwnt xufficicnt to maintuin an additianal bulunrc of not morc iban ano-sixth of thc
<br /> ''' estimated atnounts. The full annuul amcwnt for each item shalt be•rrcumulated by Leiuler within u periud ending one �
<br /> • _____ _ month before an item would tkcome delinquent. Lender shall hold che umounts collected in tru�t to pay ltems(a),(b)and
<br /> ...�...,M .,�.....•., „ (c)before they became delinq��ent.
<br /> --- -=�'x�,t;��.F:sc�r .. If at eny tlme the total of the pnyments held by L.ende�for icem,lu),(b)�►nd t�). «��=hcr with the future monthly �
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<br /> �^� � pAyments for such itcros p:►yablc to Lcnder prior to the due dates of such items, cxceeds by morc thun one-sixth t
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<br /> , •°- '� cstimated umount of puyments mquired ta puy such itcros when duc,and if paymentti an the Note u»e currcnt,then Lendcr —
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<br /> �- shull either refund the ezcesx over one-sixth of thc estimated payments ar credit the excess over one-sixth of the estimated
<br /> .x�w'.."�S' ,...ur
<br /> ---="� payments to subscyucnt payments by Horrowcr,a►the aption of Borrowci. If the tutal af thc payments tt�adc hy Borrower __
<br /> �.=»;���i^���'� for item(a).(b),or(c)is msufficient to pay the item when due,then Borrower sh�lt puy to Lende�any amount necessary ro
<br /> , ,i�3r+, '� makc up the dcficiency an or beforc the date the item becomes due.
<br /> �'F;J:__t:.:... ;,..;�." As used in this Security lnstrument,"Secrctary"means the Secretary of Nousi►ig and Urbxn Development or his or her
<br /> _ - ""'�`� dcsignce. In any year in whirh the Lender must p�y a mortgage imu�ancc premium to dic Sccretury,cach a�onthly payment
<br /> � � � �`•': shull alw include eithce (i) an instullment of the unnual mortsagc in�unuuc prcmium to bc paid by Lender ro the
<br /> '.. ,�: � Secretary.or (ii) a monthly ch•rrge insteud of a mon�age insurance premium if this Security lnstrument ts held by the
<br />" s'"': ',�;*i' Secrctary. Each monthly installment of the mort�age insurance prcmium shaU be in an umount sufficient to accumulate the
<br /> �.. , " � fuU annual mortsogc insurance prcmium with Lender onc month prior to the dnte the ful! annual mortga�e insurance �
<br /> -• ,,,:;., _, premium ix due to the Secret:uy;ar if this Security lmtrument is held by the Secretary,each monthly ch;uge shall be in an �
<br /> amount equul to one-tweifth of one-half percent of the outstanding principal balance due on thr.Note.
<br /> • 1f Borrower tcnde�3 to Lcndcr the full paymcnt of ull sums secured by this Security lnrtrumcnt. Borrower�account
<br /> � � ' shall be credited with the bulanc� remaining for all installmcnic for items(a>,(h) and (c) and any mortgage insurance �
<br /> � ' ;;, ' premium instaliment that Lender has not become oblisated to pay to the Secrctary.:uid Lender shall promptly refund any
<br /> excess fands to Borrawer. Immediately prior to a foreclasurc tiaie of the Property or its acquisition by Lender,Borrawer� __
<br /> • account shall be cmdited with any balance remaining for aU instaliments for items(a),(b)and(c).
<br /> 3. Application of Pityments. All payments undcr Prrasraphs 1 und 2 shall be•rpplied by Lendcr ati follows: --
<br /> E($�T,to the morigage intiurrnee prem�um to be paid by Lender to the Secretury or ro the monthly charge by the
<br /> Secrctary insuud of the monthly mottgage insurunc�premium:
<br /> SECOND,to any taxes,special asse�sments,leusehold puyment�or ground rentti,and f re,fla�d:u�d other h;ua�d
<br /> � inxurance premiums,a+required; �
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