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<br /> -•� :;�,,.�,,;,�..�„ . � 'Y'(J(3�'!'f 113R �VI"If[ all tlio improv�mentc��ro�v or hercutter crectcd an tho praporty, ond ull car,ement�, r�ghta, „ �� �
<br /> ..='�=°•����• •i'�- ^ nppurt�nnnccs, rcntn,raynlsies. minerel, oil end gas rightn end profim, �veter righta end etock and nll �i�tures noa or
<br /> ���.���� � '�� heresfter n p�et af tho pso�rcrry.All repincementn ond raddltiona nhull olco bo cnvered by thio Sacurity Inetrument.All at "4',r,.,�--
<br /> "-'°""��-'"''�"`?�'�� tho h�reg�ing ie roferrcrl to in thteSccurity lnetrument se tho"Pr�perty." � •
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<br /> �''"" � ��" ' T30RRO�VGR COVBNANTS thet liorrowec te lawfully salrcd of tho estate hereUy convayed nnd hae tho right t� • -''"'"°
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<br /> _ - g�snt and convoy tho 1'roperty end that tho i'raperty ie unencurnbered, oxccpt Par cncumbrance.v ot rccord. Aorr+ocver , ��
<br /> ;x ��-� �� warranta en.d will dcien�qcnorally the titlo ta tha Praperty nguinat ell cluime nrid demnnde,eubject tu nny encum brences „ • '
<br />_1,.;,.,�. - ' oi rocord. ., „ �
<br /> '�c. .,, .
<br /> --�-��` �-<<•�- . 1. Paymont uf Priaclptl.Intot�at�nd Lat�Charge.�iorrowcr ehall pay whan duo tne principsl of,end intcrest � '
<br /> � on,tho debt ovidcnccd by tho Nota end lato charges duo under the Nat�. . '„� �,"T
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<br /> ����I, � ' � 2. Monthly P�ymonto of T�xes, Ineur�nce end Othor Charges. Borrower shnll includo in each monthly '�'�► �
<br /> • ' '. ' ' payment,togather with tha principal and interest uo set tarth in the Note end eny late charges,an installment of ony (n)
<br /> � �
<br /> `�' taxes and s iel assessmenta levied or to be levied e �inst tho Pro rt , b) leusehold u ments or
<br /> :� : •. � pec g pe y ( p y ground rente on tha _ . �' �
<br /> Property,nnd(c)promiums tor inauranca requir�d by paragraph 4. _ ���:,;`. ''y'�"-��y�
<br /> _ A, !4 .i�.•,�. �•� Mufr�►.'�li'w�liaei.�f�R
<br /> '� , Each monthly instellment far iteme(a), (b),nnd (c)shell equnl ona-tweltthof the annual amounts,es reasanably I �.-,- ,,�
<br /> estimated by L.ender,plus an amount sutficient to maintain un additionnl batance of not more than ona-sixth af tha , �.'-. -��_—
<br /> estimated nmounta.Thea full nnnunl nmount for euch i tsm shnll be accumulated by Lender wi'thin a period ending�ne ° -
<br /> � �� • month before en item would becomn delinquent.l.,ender ehall hold the amounts collccted in trust to pay tterne(a�,(b), • - � .�- --
<br /> �' �� � end(a)before thay become delinquent. " � " �'-°-�
<br /> . . ��: ���:
<br /> If at nny time the totnl of the payments held by Lender for itema(a),(b),und(c),together Nith tha future monthly „ :+�',,�
<br /> �' . paymenta for euch iteme paynble to Lender prior to the due dates of such itema,excee�ls by more than one-sixth 2he °' ' _
<br /> „ • e�timated amount of payments required to�ny such itema when due, and if paymente on the Note ara cunent.then �`—
<br /> � Lender ehall either refund tha excess over ona-sixth oP the estimated payments or credit the excess over one-sixth of the t , � --=—_
<br /> � estimated payments to aubsequent payments by Bnnower,at the option af Bonower.If the total of the paymcnts made �� "�
<br /> , b Bonower Por item (aj, (b], or(c)ie ineufficient to ay tha item w[�en duo, t�en Borrower shell a to l.endar an
<br /> { Y P P Y Y .�:... -
<br /> , amottnt necessary tU maka up the deficiency on or before the dnte the item becomes due. �� °
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<br /> • . Ae used in t)us Security Inetrument,"Secretary"means the Secrawry of Housing and Urban Development or his or
<br /> . • her designea.xn any year in Nhich the Lender must pay u mortgage insurance premium to the Secretary(or sny yeac in ���c a •, .
<br /> which such premium wauld have been required if tha I.ender etill held the Security Inatruinent),each monthly psyme�t * �� '
<br /> '�_�;,.. „ . . shall also includa either: (i) nn installment of the annual mortgnga ineuranca prernium to be paid by I.ender to the � '�•,
<br /> ' .... . . , Secret�►ry,or(ii) a monthly char�e instead of a mortgage insurartce premium if this Security Inatrument is held by tha ''�" ` �
<br /> � Secretsr Each monthl installmont of the mort a a ineuranca remium shnll be in nn amount sufficient to accumulate �`�
<br /> -.... ...,�.•.. Y• Y g � P i�:�:?x
<br />� -,,„ '� the full annual mortgoge insurance premi�m with Lender ona month prior to the date the full annuul mortgage insurance I �'_� �
<br /> ; � . , . premium ie due to the Secretary,or if thie Secucity Instrument ie held by the Secretary,each monthly charga shall be in f „ .�K
<br /> - an amuunt equal to ona-rnelfthof one-half percentof thx outstandin�principal balance due on the Note. I • •-:�, � ,�, -� �
<br /> �:�:
<br /> . . If Horrower tenders to Lender the full payment of all sumo secured by thie Security Instrument,Borrower's account , y% .
<br /> ' � shall be credited with the bnlance remainin�for all installments 4or itema(u),(b),and(c)nnd nny mortgnge in�surance I
<br /> :';`., .,�� ' •;, premium installment that Lender has not becomo obligated to pay to tha Secretnry.and I.ender ehall promptly refund � •• , ,��,
<br /> � any excess funda to Bonower. Immediately prior to a foreclo�ure snle of the Praperty or its acquisition by Lender, � '�;:_
<br /> ;,. Borro�ver's account shnll be credited with any balance remuining for nll instnllments for items(a),(b),nnd{c}, � r� `
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<br /> :.�; � 3.Application of Pevments. All payments undea paregrnphe 1 end 2 ehall be applied by Len�er ns follows; I ��`- �� �`.
<br />-: ;. Firnt, to the mortgage insurnnce premium to be paid by Lender to the Secretary or to the monthly charge by the � ' ��
<br /> _. . Secretary instead nf tha rnonthly mort�a�e insurunce premium; � r. �
<br /> • Se�;and,to any taxes,specinl assessments, leasehold puyments or ground rents,and fire, flood and other hau+rd ,� •, '� ;
<br /> • r
<br /> ineurance premiume,er�required; I ' �� •
<br /> "� Third,to intejestduo under the Note; I " r
<br /> . �ourth,to omortization of tho principal of the Note; '�
<br /> ��i t�o lute churges duo undar tha Note. � '�'
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