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<br /> TOClE7'HER WITH all thc impmvements now �r her+caf'tcr ercctod on the pro�CRy. and all easenxnta. �i�hu,
<br /> - -_= rppurte�ances.rent�.royalties,mineral.oil wxl gas riQl�s ond prof�ts,wa�er rlghts and s�ack an�i�II flalurcs now ur hercafter p
<br /> -°-- part of tho property. All repincementa and additiuns slwll �I�o be coverod by Ihir�Secudty In+trument.All of�farc�oin�b
<br /> -- neferrod to in thir 5ecurky Instrument as iho'•Property..,
<br /> —;;���,�� BORROWER COVENANTS�hat Borrower is IawfuUy.cfsed of the estate heroby convcyed und hm.the�ight to�rant and
<br /> convcy the Property and tlwt Ihe Pmpeny is unencumberod. except for encumbranecsi of record. Burrower warronta unJ will
<br /> :�,��,� ckfend�en�rally the title to the Pruperty a�niast all claim4 and demondc. �ubject to any encumbrances of rocord. _
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<br /> ------_-__-�•.i� 1.Payment ot Priaclpal.Interc�t and Lwte CharRe. Bomawer slwll pay whcn due the principal af, uM interect an. the
<br /> _�:.�;��,r" ,.� debt evldencod by the Nate�td late char�es due under the Note. -
<br /> '•,. y 2. Moathly Payments of Tue�►. Incurnnce ond Other Ciwrges. BoROwer sholl itrclude in each monthly pAyment,
<br /> ;._;.� together with the principa!and interest as set forth in the Note and any Iwe charges,an in�tAllment uf uny(a)t+uces und�pecial
<br /> ;�:�:- T` - =t;_ asscssments Icvied or ta be Icviod againsl the Praperly. Ib) kasehold payments ar Yr+�ural rcn�v un ihe Propetty. an�l (c)
<br /> •-:� , 'Y� premiums for in:urance required by para��apb 4.
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<br /> f�; •; <<: � , � F.uch monthly instnllment for i�ems la). (bl.and(c)sfwll equul one-twelflh af the annual arnounts,as reasonably estimated
<br /> --`�� �•• �� by l.cnder,plus an amoun[suificfent to maintain an addiiional belanre of nM more than one-sixth of the estirnuted amounts.The
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<br /> °;���i�J': � full annu a l amount for eac h item s h a l l b e accumu la t e d by L e n de r w i t h i n a p e ri a d e n d i n g o n e m o n t h b e f a r e a n i t e m w o u l d
<br /> _�_.,.�;9ti`s�'1���°i=T��'..'.. ` 6ecome deli�uent. L.ender slwll hold the amounts collerted in trust to pay items (al. Ibl. and (c) before they become
<br /> �, . . .. ;;s° ^ delim�uent.
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<br /> =��• .��=-'��""b•°` �;' '' lf at Any time �he tatal of the payments held by Lender far ilems(a). (b), and (c), agether with the future monthly
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<br /> — �}:,��� ' payments for such items payuble to l.er+der prior to the due datea of such items, excecds by more than ane-sizlh Ihe estimated
<br /> -�� '���' � emounl of payments cequired to pay such i[ems when due, and if payments on the Nate are current, �hen I.ender shall either
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<br /> —�: ���'•°�•��:ti �. refund the excess over one-sixth of the estimated paymenis or credit the excess over one-siath af the estimated payments to
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<br /> ' :.>�.,•;,�;,',:' Fubsequent payments by Dnrrower,at the option of&�rrower. If the rotal of the puyments made by Borrower for item(u).(b), _
<br />=_.,�.�;; �� • `: ::�� or(c) is insufficient tu puy the item when due, then Borrower shall puy ta Lender any amount t�ecessary to �naka up the
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<br /> =��_�,,'Yr�,{.;�,;:,�f�. .. deficicncy on or before Ihe date the i�em becomes duc.
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<br />-- -°-�_=:?f�1:a�Yi;±'.�t!�,�_. As used in this Securfty Instrument, "Secretary" means the SecretAry of Housing wtd Urban Development or his or her
<br /> - ' �' T�� desi nee. In an ear in which the l.ender must a a mort a e insurance remium to thr Secreta each monthl a ment
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<br />_- ,. . : . � ' xhell also include either:(i►nn installmem of thc unnual mortgaRe insuruncc premium to be paid by C.ender to the Secretary, or
<br /> , (ii) a monthly charge insteud of a mongoge insurance premium if this S�urity Instrument is held by the Secretary. Each
<br /> monthly installment of the mortgage insurnnce premiwn shal! trc in an amount aufticient to accumulate the full annual mangage
<br /> • t• . � insurance premium with l.ender one month prior to the date the full unnual mortguge inwrance premium is due to the Secrctsiry, _
<br />;�:l ; ' '. or if this Security InslNment is held by the Serrewry, euch monthly cherge shall be in an amount equal to one-twelfth of
<br />_-- . , � one-half percent of the outstanding princ{pal bulance due on�he No�e.
<br /> -°� � " If Borrower tenders to l.ender the full payment��iuU sams serureei by this Security Instrun�ent.Borrower's uccount shull
<br /> `'�r J ° . be credited with the balunce remnining Fiir ull imtullments for items (al, (b1, anJ Ic)and any mongage insumrKe premium
<br /> � � � . instullment that Lender has not become��bliguteJ t�i puy t��ihe Secre�ury,und Lender.hall prompNy refund any excesti funds to
<br />"i��.��• , � :4 . • � Bormwer. Immedialcly prior to u fi�recl�»urc sule uP the Pmperty i�r it�ucyui.itiun by Lender, Borrower's accaunt shall be
<br /> . credited with any balance remuining for all installment�k►r item.�(a),Ib►,and Icl.
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<br /> ° • +' ��.:. �""` 3.Applicetion of PAyments.All paymen�s wider puragruphs 1 and 2 shall he upplieJ by l.e�xler as follows:
<br />_ _ �,; ' � First, to the mi�rtga�e in+urance premium to be puiJ hy Lender w tl�Serretary ar to the�iionthly churge by �he Secretary -
<br /> � � �_ , insteud of the monthly mungagc insurunre premiun�; �
<br /> - - S��ond,to any taxe�c, special astiessments,Iea.w:holJ puymem+ur griwnd ren�s,unJ fire,fl�xx1 and other hawrd insurancx
<br /> ;�'i . . premiums.�.ti reyuired: -
<br /> ' • , Third,ta intemst duc wxlcr thc N�ne: ;
<br /> � F�wrth,u�amortiwtion of thc prirxipul uf thc Notc: '
<br /> „ Fifth,to lut�chargcs due undcr lhr Notr.
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