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<br />-�`:�'�► . : -� 92- 10031�
<br /> _ 't�p()ETHER WITN all the improvetnents tww or hercaftcr e�atod an the propcny. and all easetncMti, dghln.
<br /> ' appurtpu�rs.nmta.royaltier.mineral.oil�nd gor ri�hta and profitc. w�tc��i�htR and stock and all fiatures naw or h�reAflar w
<br />_ - - part of the Prnperty. All rcplaoetnent�and additions slwll dw be coverod by thio Savrity Insuumm�. All of�he fore�oin�ir
<br /> -�- refertod to in this Sacu�ity Inztrument sr the"Property.••
<br />_��;-�
<br /> -= BORROWER COVENANTS Ihat Bortower is lawfully ceised uf the estate hereby rnnveyed and hav the right to g�ant and
<br />�����
<br /> .��--�-=----_ _J_ _--}� convcy the Pmperty ond that t6e PropertY is unencumbered.exrept foreocumbranccs af rocord. Borrowcr warrams And w
<br />_- --- dePend�cnerally the tille to the Pmpeny a�ainst�II claims atd demands,subJect w any encumbrances of reoo�d. -_----
<br /> � �°,� _-
<br /> _ =--� 1. Ppymmt oi Pripcipwl,lnterest aad late C6wge. Barrawer dwll psy wi►cn dua tha principal af.a�intenest on.the
<br /> ��=,;� debt evidenced bp the Note and leta charges duB under the Nate.
<br /> ��a Y'
<br /> -- .--- .• 2. Moot4ly Pay�nents ot Tnxes� IacarAUCe w�d Other Clwrges. Borrower shall include in eacd monthly PaYment. —
<br /> -- - -- � together with il�e p�ncipal and interest es set farth in 1be Notc ard any late charges.an ias1u11ment of any fa)tazes and speclal �'=
<br /> ---- == .':;ti assessa�enis levied or to bc ievicd against the Prope�ty.lbl leasehold paymeals ur gcouod renta oP tbC�ny. and (c) _.=T=
<br /> ---- --�=--���<���' premiums for inaurance�equired by Paragraph 4• • -
<br /> _�- -=_:��:a i�'s'� __-.
<br /> -'�"+�>;a":`�_:�; Each monthly instaliment for itema lal.(b).�(c) shall equal one-twelfth of the annual amcwnis.as reasonably estimated =__
<br /> -�="'=,�;,. by I.ender,plus an amouot sufticient to maimain an additia�wl balancc of not more than onc-siath of the estimated amounts.The �;�_
<br /> --- °""'�=`�`-°�` full annunl nmount for each i�am shall Me accumulated by Lender within a period ending anc monih beforc an item would -
<br /> _ ._y�.,,�_• �:�
<br /> baome delinquant. l.endar rhall hald the arnounts calkcted in trus� to pny items lul. (bl. And Icl bcfore they 6aamc
<br /> ��°�`'=�:.; delinquent.
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<br />- �'i'i�:,.��•� IF a�any�ime iho �ntal uf thc p�yments held by I.c�xlrr fur itemy lul, Ib). un�l Ir1, u►gc�hcr with thc futuro nwnlhly
<br /> .° ��`.. p�ymcntc+fi�r wch i�amr.puyablc to l,cmlcr priar tu Ihc duc dulc�uf wch i�emr.cxr�rd+by m�►ro th�n nnc-�ixth tlK cr�in�uiu�l
<br /> ",�`�' urn�wnt uf paymenlM a:quire�l�o �wy f.uch hem+�wixn due, und ii puymrn�n��n Ihc Nute A�e rur�nl, �hcn l.cndcr.hull cidxr
<br /> �!�trir�.,,,•.
<br /> '�"�'' refunJ �he ezce�.r nvcr unc-rix�h af Ihe e�linwtal pLymcnta��r rroJit ihc c�ce+� over nne-�i+c�h ot'1hc c��inwt�xl paymenlx w
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<br /> `�%Wy�.?r�_..;��. • �ubzeyucnl p�ymcntx My Bum�wor.�� �he�►Mian oS&►R��wcr. It'�he t�xol of�f�paymcmc m�ulc hy &mowcr ti�r i�em(al,Ibl. ---
<br /> ----;:;��,y�,;. ur lc) iR insuflicicm tu pny Ihc il�rm when duc, thcn Burn►wcr shall pny tu Leidcr any wixwnt occcawuy tu mok@ up the "�"'''"
<br /> � � deficicncy on ar bafor�e the dWe the item baomec due. --_
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<br />-� �```��' �Y As usad in this Securily lnstrument. "Secrctury" meunc �he Secrctury of Housing and Ufi�n Development or hig ar her `_
<br /> �-.�:,ia.. . �.
<br /> �;:-- .��V , designee. In any year in which the Lender mu�pay a mortgage insumnce premium to tiie Secretary, each monthly payment �
<br /> shall also include either: (i)an inr�nllment of the annual mc�hgage insurance premium to be paid by [.ender to the Secretary,or
<br /> S�, -_
<br /> �`� ' (ii) a monthly cherge instead of a mortgege insurence premium if this Security Instrument is held by the Secretary. Each �""
<br /> ��. monthly installment of tha mortgage insurance premium shall be in an amount sufficient a�uccumulate the full annual mongage �t_:
<br /> �' insurenca premium with l.ender one munth prior�o the date the full annual mongage insurance premium is due to the Secnetary. _ _
<br />_ -'n�,�;,f� . �::`
<br /> ur if this Securiry Instrument is held by the Secretary, each monthly charge shall be in an anwunt equal to one-twelfth of
<br /> �'�•' one-half percent uf the autatanding principal balance due on the Nae. ""°�°
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<br /> N� ',� � �� � . ,�• If�orrawe�tenders to l.ender Ihe full payment uf�II 4ums secured by this Security Instrument, Borrower's accaunt shall
<br /> , be credited with the balance remaining tior all inatallmentx for items la), (h), and Ic) •rnd any mortguge imurw�ce premium
<br /> Y:'��''�-�-'�;':� "' insuillment th�t L.ender has nat become obligs�ted to pay to the Sccretary, and l.endcr rhnll pramptly refund any excess funds to
<br /> '�'���'��y " Bonower. Immediatel rior to a foreclosure sale of the Property or ity acquisitiun by l.ender, 8orrower's account shall be �
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<br />,_��'-,�;:�4' � credited with any balance remaining for all installments for iterns la). (b), and lcl. �"
<br />=-:.a�' .'S,: _�.
<br />____�..-•�(', 3. Applic�tion ot R►ymen��.All payments under parag�phx I and 2 shall be applied by I.ender a+follows: -'°'
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<br />_,,.�.� . First, to the mortgege inxurunce premium to be paid by l.ender to ihe Secretury��r tn the m�mthly cherge by the Secretary
<br /> r. instead of the monthly mortgs�ge insurance premium; �`�'
<br />:-';;�. . ��.° � Second.to any tttxes,gpecial assessments.le�sehold payrnents or growxi rents,unJ fire, (laxl und other hazard insurance �`
<br />'=!�'�;� . . ``"'"..
<br />--;;,; . . premiums,ns required: �
<br /> .:,;i; '"� Thi�d,cu interest due under the Noce; _-_
<br /> .� ' Fourth,to umoniwtion of che prinripal of thc Nwc: -:._.
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<br /> Fifth,to late charges due under the Nae. �c�•
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