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<br /> -- --�-'—'��`'`' TIX3ETHER WITH all the improvemenla now ar hercatier erccted an the rty. and aii e�n���w, �ights, —
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<br /> '�.�'���'_ appurten�nces.rents,royalties. mineral.nil w�d gas rights oni pro8ts, wuter rights and�toc�unci ull fizture,nnw�►r hereaRer A
<br /> -_� -.._._:..,� p�rt of�he pmperty.All repincememx and additionx shnll ulso be rnvered by this Security Instrument. All of the fore�oin�ie
<br /> - :�,�:$;�:-� ►cferrod m in this Savrity Inrtrumcnt�the'•Propeny.••
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<br /> ����ti�",�..� —
<br /> .„� „ BORROWER COVENANTS�hat Barmwer is lawfully sciseci af the estate hereby rnnveyal axi hus the right to grant atKl `
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<br /> amvey thc Pruperty and tiwt the PropeAy i� unencumberod, ezcept for encumbranccs uf r����nl. Borrowcr warrants w�d wfi) o`�"=`�
<br /> I��!�."'��.'�'''' defend Qene�lly Ihe tiUe w the Propeny a�talr►st ali cluims wid denu�nds.aubject to�ny erkumbranc�ui nrord. _
<br /> �.:.�_.._:rs�' �----
<br /> � • ' ��p��� L Pnymeat of PrinclpW.Interest w�d l.ate Chwrge.Borrower�iwll pay when due the principal of,and interest on.the
<br /> '�" "'` debt evidenced b the IVau and lu�e charges due under the Note.
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<br /> -1..�. :.��:�, ... 2. MonthlY Pnyments of Ttuces. Ie�surance Aad Other CbarQes. Borrower sfwll include in u�ch monthly puyment.
<br /> ,�::,:.. � ..,,,, tugether with the principal and interest as set forth in the Note ond any Iate charges.un instullment uf uny(a)utxes wid special
<br /> - •• •�.��.'..'�"'���' , assessn�ents levied or to bc Icvied against the Property. (b)leasdiold payments or ground rentx an the Property, and (c) _ _.._
<br /> _ - E:k� ��"'�• premiumc for i�urance required by paragraph 4.
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<br /> '� "�' Each manthly installment for items(u►,(b),and(c)shall equul one-twelfth of the annual nnwunts,as reasonably estirnsited —
<br /> ��:*�k by Lender,plus um m�ount sutl`icient to rtwitNain an suiditional balance uf nat mare Ihan one-cixth of the estimated omounts.The __
<br /> '�!=�`�� �i`��• � full Annual unwunt ior each item shall be accumul�ted by Lender within a period ending one month hefore an item would __--
<br /> • a.—...._.,,,.. � --
<br /> ,� x•. �.. � ,, " become delinquent. L.ender shall hold Ihe amounts collected in uust ta pay itams lal. (bl, und (cl before they become
<br /> ���. ,;:�u.=�:�����,�.: .. delinquent. - �_
<br /> --- �.+ �.�.,.__.
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<br /> :';;� • If ut uny time the t�xal �f the puyments held by I.ender fi�r items (a), tb), und (c1. togethcr with the future monthly -
<br /> _ _� . payments for such items paynble to i..ender prior to the due dn�es of such items,excee�ls by more than one-sixth the estimated � _
<br /> � '�" '' •• amuunt of pa�menss required to pay such items when due, and it puymemF on the Note are current, then Lender shall either
<br /> � � ,' .. refund the eacess over one-sixth of the��,�imatc:J payments or cndit the exre:ss over one-sixth of the estimated payments to _
<br /> - ' subsequent payments by Borrower,at the opti�m of Borrower. If the totsil of thr puyments msulc by &�rrower for item(a), Ib1, �`�
<br /> _ _ .,,,�,,,;,.:�.°� or Ic) is insufflcient to pay the item when due. then Burrower shaU puy to L.onder any amount necesxary to meke up the L
<br /> �� •• deficiency on or befare the date the item becomes Jue.
<br /> , • ��. .
<br /> ' As used in this Security Inxtrument. "Secremry" means�he Secrerrry of Housing and Urtwn Qevelopment or his or her
<br /> ,- '— ��.� > designee. In any yenr m which the i.ender must pay a mortgage iasurun�e prenuun��o ti�c Src�ewry. �h mai►thfy paymcnt = -
<br /> � , shall ulso include eilher: iil an instullment of the annual mortguge insurance premium tn ne puid by Lender tu the Serrctary,or —_
<br /> ' . �ii) a monthly charge iatitead of a nxmguge insursu�re premium if this Se�:urity lnsttument is held by the Secretury. F�ch �,
<br /> , . monthly ins�allment��t thr mortgAge insuruoce premium xhrll be in an amount tiuffiriem to accumulate the full annual mortgage :-
<br /> � insunmcc premium with lxnder one month prior to ihc ds�te thc full annual monguge intiur•rnce premium is Jue to the Secrctary, '.Y�'
<br /> `�'�'' � •� �` � � ar if this Securit Intitniment is held b che Sc�rew each munthl ch•rr e +hall l+e in un anwunt uul to une-twelfth of
<br />_ 1 ��i,.; • Y Y r!'• Y 8 �
<br /> � ,�•Y;:.. one-half percent of the out�wnding prinripul bulunce Jue nn�he No[e.
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<br /> . ' If&iRUwer tenJcn to I.enJer the I'ul I p�yn�em ut'all wm. ktureJ hy this S�wuriry Instrunwnt. &�rrower's uccount tihall _°_
<br /> •� y . ". be crediled witb the halance remaining fi�r ull instullment� ti�r itrmti 1•r1. Ib1, and 1c1 unJ any mong•rge insuranre premium �
<br /> . '" �'"'� installment th�t L.rnder ha�not hcrome abligateJ t��pay tu thr Srrretary. :uiJ lw�nJrr,hall promp�ly refunJ any rxceti+funds to �.��-
<br /> " • Borrower. Immedialely prior to a fnreclo.ure ti•rle��t'thc Praperty�►r il.aryui�iti�m hy l.ender, Bc�rrower's uccount shull be �"',
<br /> ' .. " � credited with sury b:ilance remuining ti�r all in�tallments ii�r ite�m �ul.�bl. •rnd�rl. �'_"!'_�-
<br /> � " � " 3.Applicationof Pwyments.All payn�ents uixler par•rgr•rph. I and�xhall Ix applieJ by LenJcr:u fullows: ,_--
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<br /> ,• (;',��` . First, lo thr mortgage intiuranrr premium ta hr paiJ by l.cnder tn the��rrrrry nr ta�hr monthly chrrKe by Ihe Secrerrry �
<br /> ' "k;,_; , . instead of thc mnnthly mungagc insurancc prrmium:
<br /> `. : SeconJ. �o uny taxe+,sp�tiiul a.+essm�nts, le•r+ehuld puynknts i�r Eawnd rcn�.,and tire. Il�xxl and�xher hazard insursutce �----•
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<br /> �'��'%{ premiumti,a., reyuircJ: ��
<br /> � '�',>��i; Third.to interest due under thr N�,tr: f.:�
<br /> ;r','•,;• . Fourth. to;►martixution uf the principal��f thr Nutc:
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<br /> .,�;,,,,,r• ,, Fifth,to IAte charges due wxier the Notc. ,•.
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