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'tnOET�IBI� WI�TI� sil tha impravomenta nnw or herrafter erectai an �Ita prc�erty'�et+d i11�lf��fithq� ..
<br /> �ppuKemnces:�me.royaltlea�mintrsl,oil�nd��dghta and pmflts.water�f�hts�nd Nacic�nd dl.�ixtuc�a sKrw ar herediat'•
<br /> .ry�rt of the pr�erty. All replacemcnte�uiii addltioi�Rt►a11 also bo aovered tsy ihis Security Inst�unxnt. All uf the Corey�a�ing is . -
<br /> referral to in thli Seeutiry Instrument ae the•'Property.•, ,
<br /> BORRQW�It CUVEIVANTS that Bomower is lawfully sc[sai af the estatc hGreby wnaeyed and has the righx to gruu Knd �
<br /> conv�y the Property nnd that the Propecty te unencumberod,exetpt far eneumbra�nces of record. Horrower wareame and will
<br /> deFend generaliy the tit1Q to the Property Agaitust ell c(aims and dernands,subjeq t� eny encumbraaccs of ncord.
<br /> 1.P�yment o[Pttncipal,Intenat�nd I.ste Chsige.Horrawer sh�lt pay whea due the princ�pal of. and inuerest oh,the
<br /> debt evidenced by the Nuto and Isu charges due under We Notc.
<br /> Z. Monthty P�aymenta of Taxss� Insunu►ee and Other Cbarges: Borrou�•et ehnt! Inclusio•iit:�eYeh�manthly �eayment, ..
<br /> together wtth the princlpal and intemst es set farth in tho Note end any late charges,an�installmeni o�'.aRy (a)taxes arid special
<br /> assessments levIed or to be lcvted against the Praperty� (b) IeaseholQ•paYments or g�pNnd,.reqts .a�the Pmperty. aud (c)
<br /> premitnns for instuance re�N��Y P�B�Ph 4, . ' ' • , •
<br />, Pach monthly installment for items(a).(�),and tc)shall equal one-twelfthof the annual nmonrits,'as ceasaiuthly estimatad
<br /> . by�t.epder,plus an amount suffici�ent to mnintain an additionul b�lance of not more than ort�sixtd of the estimated ax�ounts.Ttte
<br /> • fuli ann'tial amount for each item aNail be accumulatn� by ixnder wIthin a periad en�iag oue month before an item wooid
<br />� . berome delinqir_�t, i.�hder shall hold she umounts oollected in trust to pay items (a), (b), atld (c) before they be�ome
<br /> ; delinquent.
<br /> If at any time the total of the payments held by Lender for items (a),(b).and(c). together with the future monthly
<br /> paymenta for such itema payable to Lender priar to the due dates of such item+,exce�ls by rrsore thun one•sizth the estimated
<br /> emount of payments reyuired to pay such items when due.and if payment� on the Note are cun�ent. then Leader shall cither
<br /> refund iht sxc�over os:e-�!x!h oP she estim�d pa�messis or tse:!!t t��c �.�� aYer otse-etttsh Qf ihe�n�ted �;s�nts s4 �
<br /> subsequ�nt payments by Borrower,ut the optlon af Barrower. lf thc totnl of thc pnyments made by Borrower for item(a).(b),
<br /> or (c) is lnsufRclent to pay thc itcm whcn duc. then Borrower shull pay to l.ender uny amount neccssury to mnke up tha
<br /> de£ciancy on ur befotie the date the item becomcs due.
<br /> As used in this Secudty Instrument. "Secretary" means the Secretary Uf Housins ar�d Urbun Devclopment or his or he�
<br /> designee.In any year in which the Lender must pay u mortga�e insurance premium to the Secretary. euch monthly puyment
<br /> shall atso include either:(i)an installme�at of the annuul mortgage insurance premium to be paid by Lender to the Secretary. or
<br /> (ii) e monthly chnrge instead of a mortga�e insurance premium if this Security Instrument is held by the Secretary. Sach
<br /> monthiy installment of the mortgage insurance premium shali be in an amount sufficient ro uccumulate the full annual mortgage
<br /> insurance premium wIth I.ender one month prlor to the dute the full annual mongage insumnce pnemium is due to the Secretary,
<br /> or if this Security Instrument is held by the Secretary. each monthly char�e shall be In an amount equsl to one-twelfth of
<br /> one-half percent of the outstanding principal balance due on the Note.
<br /> If Bonower tenders to L,ender the full payment of all sums secured by this Security Instrument.Borrower s aocount shall
<br /> b,. credlted wtth the balence remaining for all installments for hems(a). (b),ar►d(c)and any mortgage insurance premium
<br /> installment that Lender hus not becoma obli�ated to pay to the 5ecretary.and Lender shall pmmptly refund any ezcess flinds to
<br /> Borrower. Immediately prior to a foreclosure sale of the Property or jts acquisition by Lender, Bomower's aecount shall be
<br /> cre:dited with any ba(ance remaining far ali fnstallments for items(a). (b).and(c).
<br /> 3.Applicatton of Payments.Alt payments under paragraphs 1 and 2 shall be applied by L.cnder as follows: :
<br /> First. to the mort�age insurance premium to be paid by I.ender to the Secretary or to the monthly charge by ehe Secretury
<br /> instead of tl�e monthly mort�age insurance premium;
<br /> Second.to any taxes, special nssessments,leasehold payments or ground rents,and fire, flood and other huzard insurance
<br /> premiums,as required: ,,
<br /> Thitd.to interest due under the Note;
<br /> Fourth.to umortizutton of the principal of the Nute: �
<br /> FiBh, to late charges due under the Note. -
<br /> ��4R(NE) P�go 4 d 8
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