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<br /> '1fQG�R'��1tTH all th� iA►prove�enas na�e ar�here�er erect�d•o� the pm�ty; gmd ail e�uss, r�s, . _
<br /> �ten�t�es,rents.i�i'al*s"�.miaeral.oil aaff gas rigtits and pmfits.sc�ter rights aa��an�all fixtttres nflw or tter�.r a
<br /> ` .gart ag the prope�ay.au re�i�►u�a���m����o r��v�ay�s s�e��:Au����o��� .
<br /> � ,_. �fers�ti tfl in this Sesqrity Instntment as!he"�rop�tty.••' . ' .
<br /> � B�RRO�itER COVENA?dTS Wat Borrower is tawfvlly seised of the esrate herebp conFeyeQ aad has the right��o gcaat acxl
<br /> oonvey.ohe Property aad thai the Froperty�is anencamberfxi.excegt for endimb`rances of reonrd.�oFrower warrants and wi}I.
<br /> defea�t geaeraliy the d@e ta tlte�tup�Ry sgainst all claims aad demands.subiect to any encvmbr.�c�s of ret�N. . • � r --—
<br /> � l.Faymeat o8 Y'riao�ai,Iateresi uad 1.nte C6�e.�orrower shall pay when d.ie the princigal of,and interest on,the .
<br /> ii�t evideaoed f�y ii�e Atote�!fsta charges due.�mder the Note. ' • - �
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<br /> 2.hlontl�Sy Payme�ts of Taxes, Insrn�ance and OtLer Cbargcs. Eorroa�er.shal4 incIude in each manthlY ga3�at• —
<br /> tog�fner wisb the princigat and interest as set fordi in the Nate and any late c6sigES,an instal�nent af any�a)tancs aIId speciai
<br />: � �.sessments leviad or to.bs leviQd against the Property. (6).leasehoid paymeats or gzauad rents an the P�perty. and.(c)
<br /> pTem'st�s fot inmran���by pa�agrap6 4, � ' . -
<br /> . � F�c6 monttily instaUTnent for items(a?,(b),and<c)sh�ll eqnat one-nvelfth of the armual amn�mts,as ieasanabiy estimated
<br /> [ry Lender.plus an amflunt suff cienE to maintain an additional balance of aot mair than v¢e-sixth of the estimated amounts.7�e . —"
<br /> full annnai ampu�u for each item sball be accunwlated by I.ender withit►a Feriad e�ing o� month Uefare an item waatd .
<br /> . 6econte aelinqu+�nt. i.ender shatl hotd tfle amaunts collected in uust to pay itsms (a?, (b}, aad (c) 6efore they 6ecome
<br /> delinquetn. ' . •
<br /> If at any time the cota!of the payments held isy l.ender for items(a). (6). aad (c). IoaelhCC Witll fhe fu[uTe ecoBthly �:�:__ _
<br /> paymenu far sacb items payab2e ro Lender prior to the due dates of sucb items,exceeds hy more tban one-sixth the esdtnated �'��
<br /> . _ amounf of.payments recjuired�to p�i-sufih�items-when-due:aud-if paymeuts�oa�the�lVote-az�e cur�ent.-then LeAder st�all either---- - ��,���.�-
<br /> � refund the excess over one-siath of t6e esrimated paysients or credit the excess over one-sixth of the estimated pny�nents to " �•� -;�'"
<br /> sabsequerrt payments by Borrower,az che option of Borrower.If the total of the payments made 6y Eorcower for item(a).(b). .: '�;. ��--
<br />= or(c) is insutfrcient to•pay the item�when due, the� Borrower shati pay to I.ender any amn�mt necessary to make up t�e '-'^�'r�;
<br /> deficiency on or before the date the iiem 6ecomes due. _ _._ _. ��'"'��.°`
<br />,- - -- - ._... -� --. ._. . _.. ... ... . . . . . . •�";� � I�
<br />- qs used in this Security Inst�vment. "Secretary"meazu the Secretary of Housing aad Urban Devetopment or•his or her �--• R. •
<br />- desigrtee. In any year in wluch the Lender must pay a mortgage ins�uan�ae preqaium co the S�retary, each crtontWy payment �sf't�.
<br /> shall also inslude either.(i)an installment of the annnal mortgage iasurance premium to be paid by Lender to the Secretary.os �-
<br />- (ii) a monthly charge instead of a mortgage insurdnce premium if this Sec.�urity Iastrument is held by the Secretary. Each �'��"�;`�
<br /> monihJy installment of the mortgage insurance premium shall be in an amount safficient w accumutate the full annual mortgage �}�`' •
<br /> . . . ��
<br /> insacunce premium�vith LeIIder one tnomh prior to the date the full annual mortgage insurance premium is due to the Secretary. :��, �
<br /> or i4'Wis Seeuriry Inswment is heid by the Secretary. each monttily charge shail be in an amount equa} to one-tweifth of • ;,::,';.�
<br /> occe-half per�ceat of the outstandiag principai 6alance due on the Note. ':f':, 4
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<br /> If Borrower tetuters to Ixnder the fuq payment of ail sums secured by tt►is Security Instrument.8ormwer's account shall --�_`
<br /> be credited with the balance remaining for all installments for items (a). (b). and (c)and any mongage insarancc pmmium. , ' ���/- .4
<br /> installraent ti�at Lender has not become obGgated to pay to the Secretary.and Lender shall proinptly refund any excess funds to � .':'��� �'��+t�'-:__
<br /> Borrower. Immed'rately prior to a forectosure sale of the Property or its acquisition by Lender.Borrower's accaunt sh�ll lre � ''`4:`"�`
<br /> �,,._;�:
<br /> credited tivith any balance remaining for all installments for items(a).(b).and(c). � '�'jY3 ' '
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<br /> 3.Applicat�on of Payments.All payrnents under paragraphs 1 and 2 shall be appiied by Lender as foltows: �'� ,.;'_
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<br /> �rst, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the Sacrctary . �_ '��. .•''
<br /> ;rr,
<br /> .instead of the monthly mortgage insurance premium; , .` , �;�-�' �
<br />= . Second,to any taxes.special assessments,teasehold payments or ground rents,and fire,flaod and other harard insurance , • . „�
<br />- � pmmiums.as reyuired: . '. :
<br />- Third.to interest due under the Note; � ' .
<br />- Fourth,to amortization of the prancipal of the Note: • ' .. �
<br /> Fifth,to late charges due under the Note. � .
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