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<br /> 'PD��TIiE?it WI'1'H ull thc improveincnt� miw er hercnRer ere.tcd an the praperty, nnd all ct�semcntr�, righ�.
<br /> oppurte�unnc�s,rents,roynt�ic�, n�iikrul. nfl u�xl guv tigius ctnd pr��ts.wAtcr dghte iind sta:k nnd afl fixtures nuw ur hercaftcr n
<br /> p�nrt of ihe pmperty. All rcpinrements aiM pdditions shull utr;�he covcm�l by thie Sccurity Instrument. All of the foregaing is
<br />. rcfcrnd to ln thts Security Instrununt as the"�roperty."
<br /> BOf�ft�Dtllf:lt COVENAI�STS th�ri�nrmwer iv Imvfelty sclscd c�f�I�c cstmc herchy canvcyed und has thc right tu grant und ,
<br /> cunvey tha I'roperty und thai thc Property is une�kumbcred,cxcept far encumbrnnces af rccotd. Bc�trawer wnrrunts nnd will
<br /> defend generalty thu titie to the Property ugafnsl atl elaims ctnd demands.subject to Any encuinbmnres�f resord. —
<br /> 1.PAymettt ot Prtnclptl,lttterest sn� I.ate Charge.Barcower shuU pay �vhen due thc prinsipal of.und interest on,thc
<br /> debt evidencal by the Note nnd lute chargcw due urtder the Note.
<br /> 2. btonthfy Payment9 of T�ces, Insurance iend Othec Chs4rges. Borrower shall include in each monthly payment, �
<br /> together with the principal u►xi inter�t as set forih in the Note and any Inte churges.un imtallment of Any(n)wxes und speci�l
<br /> assc.9snicnts Ievied or to be levied against the Property. N) leasehold paymcnts or ground rents an the Properiy. und (c)
<br /> premiums for incumnce reyuired by parag[aph 4.
<br /> Euch monthly instaliment far items(a).(b).ctrid(c)shalt equal one-twelftb uf the unnual amounts,as rcasonably esUmated
<br /> by l,ender,plus an umount suf�icient tu n�aiutain an adtlitlonat talancc of nat mtsm than�n�-sixth of the estiu�tes!aaiounts.The .
<br /> full annual amonnt for each item shall be accumulated by L.ender�vithin a prrind wnding ane month befare an item would
<br /> become delinqucnt. Y.ender shull hold the amounts oollected in mast to pay items (u). (b). und (c� 6efore they becomc _
<br /> ��,_
<br /> delinquent. � -
<br /> If ttt any time the total c+f the paymenu held by Lender for items (a). (b), and (c). together with the future monthly h-��
<br /> payments for such items paynble to Lender prior to the due dates af such items,exceeds by more tha�y one-sixth the�timated
<br />' amount of pnyrtients requirod to pay such items when due.and if paymertts on the Note are cur�+ent.then Lender sh�ll either
<br /> refund the exoess over ane-sixth of the estimau�payments or credit the ex�ss over one-siath of the estimuai payrtten�4 to !t�"
<br /> subsequent paymcnu by Boirower.ut the option of Borrower.If the total of the payments mude by Borrower for ttem(a).(b).
<br /> or (c) is insufficient to pay the item when due. then Barrower shall pay to Lender cury amount necessary to mnke up the -
<br /> ctsi'icic�y vn ur bc€uxc ti-ia a�ieie ihe it�tii ls��si�s�uC. ---
<br />- As use�in this Security Inswmeat."�ecretary" means th�Srxretnry of f�ousin�and U�ban Dev�lopment or his or her _.
<br /> designee. In nny year in whtch the Lender must pay a mortgage insurance pnemium to the Secretary. each monthly puyment _
<br /> shal!also include either:(t)nn instal(rnent of the annual mortgage insurance premium to be paid by L.cnder to the Secmctary.or �_
<br /> {��)a monthly charge instead of a mortgage insun►noe premtum tf this Securlry Instrument is held by the Sacretary. Each �,—_
<br /> `• monthiy installittent of the mortguge insurance premfum shall be in an amount sufticient to accumulate the fiill annual mon�a�e
<br /> � insurance premium with I.ender one month prior to the dato the full annunl mortgage insurunce premium is due to the Secretary, ��`�-
<br /> or if thls Securiry Instrument is held by the Sacretary. each monthly charge shall be in an amaunt equal tn one-twelfth of ��r;;
<br /> one-half percent of the outsuu►ding princlp'sd balance dus on the Note.
<br /> �� .
<br /> If Borrower tenders to Lender the fuil payment of all sums secured by this Sacurity Iaswment.Borrawer's aocount shall �:.-
<br /> be credited �vith the bulunce mmainin for all instailments for items (a), (b). and(c)und uny mortgage insurance premium �`'"`
<br /> S
<br /> installment Wat Lender has not berome obligated to pay to the Se�,retury,und L.ender shril promptly refund Any excess funds to
<br /> e�
<br /> Borrower. Immvdiately prior to a fareclosure sale of the E'roperty or its acquisition by i.en�les, 8orrower's account shall bs =�_
<br /> �redited w[th any balance remaining for all instalttnenas far items(a).(b).and(c). _�_
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<br /> 3.Applicatton otPayments.AIl payments urtder paragraphs 1 and 2 shall be apptied by Lender as follows: �`��-
<br /> _rt.
<br /> ,.:�.
<br /> , . ' First.to the mortgage insurance premtum to be pald by I.ender to the Secretary or to the monthly churge by the Secretary "°=�
<br /> - i�steud of the monthty mort�age insutance premium; +
<br /> „ Second,to any taxes. special assessments,leasehold payments or�round rents,and fire,flood und other hauud insurnnce
<br /> premiums, av required;
<br /> Third.to interest due under the Note: �.�' .
<br /> Fourth,to amortizadnn of the princip�l of the Note;
<br /> Fifili,to late char�es due under the Nute.
<br /> �ditlNEl P000 101 e
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