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<br /> TOLj6THER WITH all the improvement y c°hts�and erofusr wutcr`r�hts un�!stpixk nd ull fixtures now ar hercafter a ,
<br /> ' uppurtenunceti,rcnts.royuPics,mincral,oil and gu g P
<br /> '' part af the property. All mpixements und additions shall also bc covercd by this Sccurity instrument, All of thc furegoing is
<br /> �� � refz�rcJ tu in thl+Security In�iNment us the"Property." �
<br /> ' �.�
<br /> � :".�-h•-- BORROWBR COVENANTS that Borrower is lawfully seised of the estste hcreby cunveyed and hus the right ta�runt an
<br /> .. convey the Property and Qiut the Property is unencumbered, except for ercumbrances of record. Borrawer warrnntc und wiU
<br /> defend genecuily the tttle to the Property u�sinst aU clnims and demunds,subject to uny encumbranees af record.
<br /> �:. .
<br /> . - „ I, Poyment af Principnl, Interest and�te er the Nate.ttpWer shall pay when duc the principal of,and interest on, the , 1. .,
<br /> debt evidenced by the Nate and late charges due und .
<br /> • 2. Monthly Payrnents of Taxes, insurance and Other Charges. Bnttower shall include in each monthly payment, � : . '
<br /> �� ,. „ to�cther with the principal and interest as set fart�Qn ehe N(bj��s h Idapayment y orn€rou drrrents on hea)Property�and�(c
<br /> • assesyments levied or to be levied against the p rtY
<br /> �'' premiums for insurance required by paragraph 4. �
<br /> ' „ . F;ich manthly installmenc for items(a).(b)• �addit�nal halance oftnot'mo ef than one-stxth af the esdmated umt ounts.Tha .
<br /> by I.ender,pius un wnount sufficicnt to maintain a - ,:
<br /> ,. ,. �^ full amiva! amount.fLr��er shull hold t e�am unts olec[edn'�inrtrust�t payr itemsn(a)s (b), and t(c)before they bec:o e �::�F
<br /> become delinquent ,i:r�-i�
<br /> •;:,:,., .
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<br /> :a ` � delinquent. _
<br /> ° �"�' If at any time the totel of the payments helo he due dates�of 5 h items bexceeds by more than onets xth the estimated • •
<br /> , payments for such items payable to Lendcr prior t
<br /> amount of payments reqaired ta pay such items when due, und if payments on the Nate are current, then L.ender shments ta Y
<br /> mfund the excess over orte•sixth of the estimated payments or credit die excess over one-sixth of the estimated pay
<br /> , ''�
<br /> subsequent payments by Ba�rrou.cr,ai ihe tiptian of R�nower. If the tatel of the payments made by Borrower for item(a). (b). ,,
<br /> or (c) is insufticient to pay the item when due. then Borrower shAll pay to I.cnder uny amounc necc�s�u� ta m�^e uP � °�- `;-
<br /> , ' �� deficiency on or before the date the item becomes due. ;',,� _
<br /> �� Q • m e a ns thc Secretary of Housing and Urban Aevelopment or his on c�r t,;� .,.
<br /> ' As use d in t his S e c u r i ry I n s t r u m e n t. "S e c r e t a ry'
<br /> • ., de.vignee. In uny year in which the Lender mue annual mortgage insurance pren um to be pnid bY Lender t he SecretarY.or N.�,:
<br /> ~ shall aiso include either;(i)an instuliment of th �` ' -_
<br /> �� - p (ii)u monthly charge instead af a mortgage insurauicne h�i be n anthnm un suffic entrto accumulate the full annua���e
<br /> . monthly instaliment of the mortgage insurunce prem
<br /> ,�. _
<br /> insur�ncc premium with L.ender one month prior to the datc the full annual mortgage insurance premium is due to t e re ary+ + „
<br /> • „ .. ; or if this Security Instrurnen[ is herinct al�balancetdue�on the N te.ly charge shall be in un umount equal to one-twelfth of '
<br /> ' ,. � o n e•h a t f p e r c e n t o f t h e o u t s t n n d i n g p p '+•«.. -
<br /> o _
<br /> , . , .• ; ',T�- if Borrower tenders to Lender the full puyment of ull sums secured by this Securlry Instrument. Borrower's account shall +�.,,Ar..
<br /> �•1' be credited with the balance remaining for all installments for items (u), (b). and (c)and any mortgage insurance premi�un ,
<br /> ' instullment thut Lender has not become obligated w pay to the Se.:retary,nnd Lender sha11 promPt1Y refund any excess funds ta •��1':•,
<br /> � �`�' Battower. bnmediately prior co a foreclosure sale of the Propercy or its acquisitton by Lender. Borrower's account shall be �� :
<br /> ' � " ��'�,.� credlted with any bal:�nce remuinin�for�il installments for items(a),(b),and(c). �".�_`
<br /> _'`:_ .�_,. , 3.Application ot Payments. All payments under parugraphs 1 and 2 shail be uppited by Lender as follows: r�'
<br /> ....�,- � r'='*'
<br /> ' " � ~ " l�irst,tu the m��gagc Insurnnce premium to be paid by Lender to the Secretury or to the monthiy charge by the Secretary
<br /> °� �' instead af the monthly mongage insurance premium:
<br /> Second. to uny wx��s.speciat ussessments,Icasehe�ld payments or�round rents,and fire.flood and other hazard insurance
<br /> . . , premjums.as required:
<br /> • Third,to intemst due under the Notc: •
<br /> . Fourth,to amortiz:�tion of the principal uf thc Notc:
<br /> ' �� Fifth.to Intc charges due undcr thc Notc. R �
<br />.. � .. � � aose 2 ut o
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