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<br /> �fIF.TH�R W{"fH ail the i�nprovements now or hr.rexner enos:ed on tite propetty. et�d �il eagement�, righu.
<br /> Kppunr�u�rkY9,renis.r�yaides,m�ineral.O�I Al1AI BI:6��8I11S iUNJ pC01119, wutcr�ight�utx!stuck atx!�eU fixtures�x��r ar hercaRer a
<br /> �wR�f tt��rogetty. AU replaxmeats nnd addidous shall ulsa t►c coveuYl by this�curtty l�»truuunt. All«f the toregoin$is
<br /> � refernd tn in ihts�curisy fnstn�ment as the"Pra�crty."
<br /> BnRROWBit COV�NANTS that Borrovrer is QawCul�r relserd af tl�e cstatc hereby oomeyed and tt�tho rig�t to�rw�t and
<br /> canvey ti�e Pwperty and that tha Property Is unencumbered, except fnr encvmbr�tces of rec�rd. &rrrower ws�rrunts antl w111
<br /> defcnd generally thc titla to the PropeAy aguiast ali clalms und danwds.subject to any encumbrances uf rccnrd.
<br /> 1. Payn►rnt of�PrincJ{wl�Inter+est and I.ate Ci�rge.Horrowcr shall pay when due the pdrtciput of. raid interest an.the
<br /> i debt evldencYd by the Nate aad Inte charges due undex the Nate.
<br /> � 2. 111onthly Pay�ner►ts of Taxes, Iasuranoe and Other Charg�. Horrower shnfE iaclade in euch mantl�ly payment.
<br /> together wtth the prinr.ipal und interest us set fo»h in the Note�nd any Inte char�es.tin instaliment of uny(u)twccs mtd apectal
<br /> assessments Icvied or to be levlai against the Property. (b) Icasehold puyments or ground mnts on the Property. and (c)
<br /> premlum5 for insur�ulse reqt�ir+ad by parngraph 4.
<br /> F,.ach monthly insuillment t'or etems(u).(b).and(c) s{tnU t:qual one-twelfth of the annuul sunounts.as r�sonably estimaud
<br /> by Lender.plus an anx,unt sufficient to rtwintaIn an ndditionnl balance af not more than one-sixth of the estimated acnounts.'I1te
<br /> full anaual ama�utt for eaeh item shall tr��mulated by L�eader vrithin a period ending orte moath befote tin item would
<br /> bccome delinquent. [.endet shali hold the amouau cellected in tnist to pay items (a), tb), and (c) before they beoome
<br /> delinquent.
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<br /> If at su�y time the total of the payments held by [.ender for items (a). (b), artd(c), together with the future monthly
<br /> paymenu for such itcros payable to Lender prior to the due dates of such items.exceecls by more than one-sixth the estimutad
<br /> a�rtourrt of payments required to pay such items when due.and if payments on the Note�ue cument.then Lender shnll either
<br /> refund the excess over o�e-sixth of the estimat�d paymenu or credit the eroess over one-sucth of the estimated paymenu to
<br /> subsequent payrt�ems by Borrower.at the oprion of Borrower. �f the total of the p�aymems made by Bomower for item(a).(b).
<br /> or (c) is insufficient to pay the item when due,then Bomnwer shall pay to Lender any amount neoessacy to make up th�
<br /> deficiency on ar before the date the item becomes due.
<br /> As use�in this Security Insuument. "Secretary"m�ns the Secretury af Housjng and Urban Revelopment or his or her
<br /> designee. In any year in which the L.ender must puy a mongage insurance premfum to the Secreuiry, each monthly payment
<br /> shall afso include either:(i)an instaliment of the snnual mortguge insurance premium to be paid by i.ender to the Secretary.or
<br /> (ii) u�onthly charge inste,zd of a mortgage insurance premium if this Security Instrument is held by the Secteiary. Fs►ch
<br /> monthly inswllment of the mortgage insuranoe preauum shall be in un amount sufficient to accumulate the fuil annuai mortgage
<br /> insuranoe premiuu+n with Lender one month prior ta the date the full annual martgage insurance prerrdum is due to the Secnetary.
<br /> or if this Security Insuument is held by the Secretary, each monthly char�e shall be in an amount equal to one-twelfth of
<br /> � one-half percent of the outstartdin�principal b�lance due on the Note.
<br /> ' If Bomower tenders to Lender the full payment of all sums secured by this Security Insuument,Borrower's account shull
<br /> � be credited with the balance remaining for aU installments for items (a). (b). and (c)and any mort�age insw�r►ce premium
<br /> ' instapment that Lender has not become obligated to pay to the Secretury,and Lender shall promptly refund any excess funds to
<br /> Borrawer. Immodiately prior to t� foreclosure sale of the Property or iGS 3cquisit�on by L.ender. Borrower's account shall be
<br /> ; ct+�dited with nny balanoe remainin�far all installments for items(a),(b),and(c).
<br /> 3.AppUcation of Poyments.All paymenu under paragraphs 1 and 2 shall be upplied by L.ender as fol[ows: .i,:`
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<br /> First,to the mortgage i�surance premium to be paid by I.ender to the Secretary or to the monthly charge by the Secretary ��.:;�;
<br /> instead of the monthty mact�age insurance premium; _
<br /> 5econd.to aciy taxes,special assessmenu, leasehold payments or�round rents, und fire, flood and other haz�rd insuranoe
<br /> premiums,as requimd;
<br /> 'f7�ird,to interest duc under the Note:
<br /> '�i �ourth.to nmortization of tfie�rjncipal of the Note; ,
<br /> �~Ith,to tate charges due under[he Noce. '"
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