|
C' _ ..– —
<br /> � • .� .;,,, -' -.
<br /> � � {
<br /> m I jt,;��. � - -
<br /> . �� . . . �
<br /> ' u,�a....: .;
<br /> � '. 92._ 100492
<br /> �� �A:.
<br /> '' 1. Payment ot Princtpai,lntere�t And l.Ale Chprge. Bormwer shall puy when duc the principul of.and intercst on,
<br /> � 1he debt evidenced by the Note and late churges due under the Nate.
<br /> � �p� �, 2. Monlhly payments ot'Ihzes,InsurAnce nnd Ot6er CAprges. Bnrrnwor chull include in cuch momhly paymen4
<br /> .';�,<< ,`^�. togelher wlth the pdncip�►t end imemst as set farth in�he Noto und any lata churge�, un in�lallment of any(a)wzcs and
<br /> . �,�^'I.' �
<br /> � spociul asr,essments Icvied or to be levicd ugainxt tha Ropeny.(b)leaschald paymentx ar ground nnts on the Properts•,and
<br /> `°i� ��`•:������� (c)premiumsfor insurance required by Pa�ugraph4.
<br /> �. i���'?=''��`"'a� l�` Each monthly instollment ior ilems (a), lb) and(cl shc►II equal ona•twelflh of the annuul amoun�x, us rcasanably
<br /> `• � •-� --'� "• estimated by Lender, plus an nmouM +ufficien� �o muinmin an �dditinnul hulnoce of not more�han one-sizth af the
<br /> �y;,�:�;^�i'�i'•r estimatM amounts. Tho full unnuAl nmount for cach i�em shull be accumulatad by Lender wi�hin a period ending ane � - .. R-
<br /> �;;µ'���*,�' month before an item would becamc delinquent. l.endor sBall hnld tha o�nmunlA callacted m tNSt�o pay itema(u),(b)and
<br /> _ �` H^','�``}�.�� (c)be(are they become dclinquent.
<br /> - ..:.d'�S� . -
<br />�i �=afl:iw-���x �' If at uny time�he tolnl of tha paymems held by l.endor for itam� lul. (b)und Icl,tagathe�with Ihe future monthly
<br /> ""` � �.;�7�'��'„�". payments for such items payabla to Lender priar ta ih� dua dutas of suuh itam�.exceeds 6y more lhan one-sixth the
<br /> ' '�' � eapma�ed amount of payments reyuired ta Pny �uch ilems wh�n due,and iF paym�nl�:on the Note are current,then I.ender __
<br /> � � shull ei�her refund�he excess over one-sixih af�hv estimuted puymanlF or credlt�he excess ove�ane-sixth of the eatimated - .
<br /> ' � ' � �� payments to subsequent paymenl�by Barrower,nt tho optian af Bc►tma�er. IG Iha tatul of thc puymentr,mode by Borrawcr �-=='==""
<br /> �•i �r,��t:"',�r .
<br />��r� . .. , .. for item(a).(b).or(c)is msufticient ta pay the ilem when due,lhon Bc�rmwe�rihpll pay to Lender any wnount neceayary to
<br />�,::�; � :,,;.' � meke up the defciency an or befare thc date the itam becarnes duo.
<br />�y� As uced in this Security Instrument,"Secrslwy"means�tta Secmtary of Hou�ing und Urbun Ikvelopment or his or her
<br /> 1�`,�r„ � 'n``''� ' desi nee. In en enr in which tho Lender mur.t n A morl u e utsamnce rrmium to the Secreta estch monthl nt -�...
<br />��' �� B Y Y P Y 8 B P �'� Y P°Y�
<br />�' '� ah�ll also includa either. (i) un instullment of U�o annual martgago insurance premium to b�puid by Lend6r to the ---
<br /> �- �a:�.,� :�.'��',•��'� Secretary.or(ii) n monthly charge instaad ot•a mortgage insumnce premium if lhis Security Insirument is held by 1he �-
<br />�w=:�� �'�'��!�'��` • Secretary. Each monthly installmenl af�h�mart@age insurence premium shull t�e in un umount sufficient to accumulata the •
<br />:-�� . ' full annual mortgage iosurnnce p�mium wlth Lendor one month prior to t;ie date the fu l l annun l mortgage insumnce `"�iW:y�;;t'
<br /> - ' • premium is due to the Secr+etary:or if thi�Security Insuument is held by the Secretary,each monthly charge shall be in sm �"'�-�-"=
<br />��' �� , • ..� `'`"'•�� tunaunt equul to one•twelfth of one-half•pe�en�of the autstanding princ�pal bulunre due on the Note.
<br /> ' !�;�;,,,,;�,,,.� If Borrower tenden to Lender the full payment of all sums secured by thia Security Inectrument, Bonawer's nccaunt ---°�--
<br />� •.. shall be credited wi�h the balance romuining for ull installmems for items (u), (b)nnd(c) and any mangage insurance -�
<br /> ��� ��' pnemium inslallment thut Lender has not become obligated to puy to the Secretary,and Lender sholl prompUy refund uny ,;r���c,�`:
<br /> �t�.;_ �-.
<br /> . � • excess fu�ds to Borrower. Immedia�oly prior to a fareclosure sale af the Propeny or its ucyuixition by Lender,Borrower� ���i�t±�'��-
<br /> fT!(�,,,_:
<br /> � ' accounl shall be crediteJ with any balunce rcmnining for all inrtallments for items(a>.(b)and(c). �^��"�'-=--
<br /> ��. �.- �' 1'...
<br />} ' � a�����• °° . 3. AppNcadon ot Paymenls. All payments under Paragraphx I nnd 2 Rhall be upplied by Lendcr�s follows: 1���`
<br />` � � . �T,�o the mortgage insurance premium to be paid by Lender to the Secretary or w the momhly charge by the �,;_��;���.�
<br /> ' . .'. Sxret instead of the moMhl mort a e in�urunce mium• �;,,-j!,�"'�F_`
<br /> n
<br /> • ,„,:�: . Y �� • i i;`�_:--�
<br /> .r - � , $�Q�.to any taxes,special assessments,lea.uhald payments or ground rente,and tir�e,tlaad and othar huzard ��;�,,.
<br /> r insurancc premiums,as rcquired; ��`==�-`
<br /> � :.. :.: . � __-=• =- -
<br /> . . . , �j$p,co inrerest due undor the�iat�;
<br /> � � . •��:,��� ' 1�.gT1i,to amonization of the principal of the Note; -
<br /> " �j'J j,to lute charges due undar Ihe Nate. �-���;�";w�_
<br /> ' � A 4. Fire,Flood and Other Hnaittd lnsuranee. Borrowcr tihull insurc all improvemen��on the Propeny,whether nuw ____
<br /> • ' ' , in existence or subaequently erected,against any hazartl::,cusuultich,and contingencies,including fire,for which Lender C;;;�,
<br /> ° requires inaurat►ce. This inhurance shull be maintained in the nmounts und far the periadti thut Lender requires. Bortower -=-
<br /> . � ° ehall alsa insure ull improvemBrnx on Ihe Property,whether n�w in exir�rnce or subsequently erected,against loss by floods �==-
<br /> • '' to the eatent re uired b the Secmt All intiurance�hull lx�carried wi�h com anies n raved b Lender. Thc inhurance '^° �;"-;_
<br /> �! Y M'• P PP Y �.�;,:_r.s�'.�'.
<br /> "`='"� policies and any renewalR shall be held by Lender and shull include lo�s payuble cluuses ln favor of, and in u farm — �
<br /> , . ' i�F',�:;:'�
<br /> ���' � " acceptable to,Lender. `-
<br /> � ; In the event of losc, Borrower xhrll give Lender immediulc naicc hy muil. Lender muy moke proaf of'loss if not ��'.'�::'_'_'�
<br /> � '�l�d..;,� . �.
<br /> - ��h�''�'�' � ' �� made promptly by Borrower. Euch insurunce compuny runcemed is h�reby authorized und direcied to mnke puyment for =`-'_�'_-
<br /> �•''�, . '�'�`a,f, • •��;•'�; such loss dinecUy to Lender,insteud of�o Borrower.�nd lo I.ender joinUy. All or uny pnrt of the in�urance proceeds moy be ��.
<br /> ��.e��.'.� �!�-._��
<br /> ';,;t� ;" �. ' . ��..:•;� applied by Lendcr,ut i�s option.eithor(u)to thc n:duclion o(the indebtedness undr.r thc Note and this Security Instrument. ��______
<br />" ' ''�'.:'� first to any delinyuent umounts applied in th�order in ParugruQh 3. »nd then to prepaymen� af p�incipul, or(b) to the s'
<br />� +•'� � •� restorotion or re air of the damA ed ro rt . An A licution ot the rcxeeds lo the rinci ul shnll not extend or sl ne ����
<br /> p F P P�. }' Y Pp P P P P� I� ' --- _
<br />�� � ,' �`tir. . � the due date of the monthly pnyments wh�cn ure referreJ to in Paragrrph?,or change�he umount of such paymentn. Any �`
<br />
|