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<br /> �=�;��� -- 92-14052�
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<br /> _-------� TAdEi'H�R WITH all the improvcmen�s� now or her+aiflc� era�ta! on tho property. and all eas�rr.'nt�� d� .
<br /> _ appunen�wes.�ts�royd�ies.minernl.oil Ynd Qus d�hts w�d proli�s,water rl�hts ond wack and all 8�tum now or herafler�
<br /> "'"�'m"-'�'��'- psrt of the propertY. All rc�►lacemeots and wlditioro ahall dw be oovorod by 1hi�Secutity In�uumaN. All of tbe ta+�oit� b
<br /> — �� roferrod ta in thii S�curicy Inst�ument as the"Property"
<br /> �,�t�- BORROWER COVENANTS llu�l Borrovve�is lawfully sefsed of�ho eslWe hercby cc�nveyed and twa the �iQht to�nm and
<br /> .�.-�-. ._._ . �ti►nvey dx Prapeny unci �t the Propeny is unencumberod.exctpt for encumbruk'e�of rocord. Bomuwer w�rrant�atd wiU
<br /> 1�, - -- - -: defend�enerally the cide a the PropeAY a�ainst�II cluims wid demAnde,wbjoct a�uny e�cumbr�ice,�of raa�ni. �
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<br /> A.Paymeat of Htad�l,lotaest aad late Cbw�e.Borruwer shall pay when due tbo prirs:ipal of,and Interc�t ua,t!rc
<br /> debi evidenced by ttie Nate and late ch�r�es due under 1he Note. _
<br /> — 2. Moothly P�yrnmts of Taxee, lacnr�ti aad Otlier Ch�es. 8orrc►wer shull include in each monthlY P+Ymetn.
<br /> ' togelher with the princip�l a�d intercu us set forth in the Note and any lue chsugos. an in�alln�ent of any(a1 taxes and spetial
<br /> �' � acsessments levled or to be levied against the FropeKY. lb1 leasehold paymenta ar ground �en1s ap �he Property. aad (c)
<br /> _,,�, , y � premiums for inwrance re4uirdd bY paragraph 4. -
<br /> —�-zi."�."°r � ` I Each monthly installment Wr itr�iu(ul.(b1.and lN slwll equal one-twelRh of the annual amounts,as teasonably estimtated
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<br /> �,�.,.t1 by(,��¢�.p�us++n amount suificient to maintain an additional balance of not morc than one-siath of the estimatod amounts•'i7�e
<br /> `.'""'"`�`'. fuil annual amount for pch item shall he accumulated by I.cnder within a pedod ending ano month 6eforc an item would
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<br /> -- ` :f��i. become delinquent. l.etder sludl hold the amounts eollxted in uust 10 pay items (a). lb). and lc) beforc they ba�me
<br /> �''�' �` delinquent.
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<br /> - ����;:r I .�„�";;�;� [f at any time the wtal of the payments held by Lender for items (a►. (b►, and (c), together with the future month�y
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<br /> __�- f.�,' � .,:.r�•„��. payments for such items payable to l.ender prior to the due dates of such items,exceeds by mnre than one-sixth �he estima
<br /> - �c�'#�;�:r:� am�wnt of paymenu required ro pay such items when due, and ii payments on the Note are current,then Ixnder shall eittrcr
<br /> �"i �� � ��' refund the excess over one-sixth of the estimuted payments or credit the excess over one-siath af Ihe es�imated payments to
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<br /> °'`����t�,� i'y' suhsequent payments by Borrower,at the option oi Barrower. If the total of the puyments made by Borrower for item(a►.(b),
<br /> ;3�:;�- . . or(c) is insufficient to pay the item when due, then Borrawer shall pay to l.ender any amount neces.wry to m a ke up the
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<br /> . s . deficienc�r on or beiore the date the item becomes due.
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<br /> --_-- �r'' `' � ' As used in thic Security instrument. "Secretary" means the Secretary of Housing and Urbnn Developtnent or h�s or iier
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<br />— l � '�• designee. In any year in wbich the Lender muse pay a mortgage insurance premium to the Secretary, each monthly payment
<br /> l� ��fr��"��"'f�"' �=� shall also include either:(i)nn installment of the annual mottgage insurance premium to be paid by I.ender to Ihe Secretary. or
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<br /> ''�•ks ' a� °' 'r.�:�;r o (ii) a monthly charge ins�ead of a mongasa insurnnce premium if this Securiry instrumcnt is held by the Secrewry. Each
<br />- ��� ` -�'�'}"��" monthly insallment of the mortgAge insurance premium shall be in an amount sufficient to accumulate the full annual mortgage
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<br /> "�.�,. ,r.�, iosurance premium with l.ender one month priar to the date the full annual mortgege insurance premium is due to the Secretary,
<br />-`�`•_ ;`'+�• '�""�•':~'' r�'. i or if this Security instrument is held by the Secrctary. each monthly charge shall be in an amount equal to one-twelfth of
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<br /> ���, , � ,y � one-half percent of the outstanding principal bnlance due an the Note.
<br /> .�`-,_„ . .+.11. = � . .
<br />�` : •a, „ If Borcower�enders to l.ender the full payment of all xum5 secureci by this Security Instrument,Borrower's ucrnunt shall
<br /> - � r ' � � be credited wi�h the balance remuining for all installments fur i�ems lu), (b),+uid Ic► And any mortgage insurance premium
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<br />- '��-�"� �°'''� "' �"�"' ' installment thet l.ender Aas nat become obliguted to pay���the Secreiury,and Lender�hall prompdy refund any excess funds Io
<br /> � . �='� Borrower. Immediately priar to a fnrerlosure sale of the Pmpeny or its acquixition by Lender, Borrower's eccount shall be -
<br /> _'� ~ +� •�'''�,,A�t'�?r' . � credited with any balence remaining for all installments far icems lu>.(b),und Ir1.
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<br /> ,_ 3.Application ot Paymentx.All payments under patagmph.e 1 and 2 shull he upplied by Lender as follows:
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<br />-"' . �,����' . First,to�he mongoge insur�nre premium to he paid by I..ender to the Secretary i�r ta the monthly charge by the Secretsuy
<br />-- • •- -'�• ��'°��'� instead af the monthly mortgage insurunce premium:
<br /> � � ' .' � `. f� Second,to uny taxes, special s�u:ssment,, lear,eh�ild pryments or ground rents,und tire, tlad and other hazard insurance
<br /> . � � . premiums.�+requircd:
<br /> ° • . i '1'hird,to interest due undcr the Note;
<br /> .. � I Fourth.to�moniyatian uf the prinripal af the Notc:
<br /> Fiflh,to late churges due under the Note.
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