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<br /> ....� �_ . _ . _ _ _ :p•. __ _ _ _ t..'c��'_
<br /> - _ . . _ — ,n ' . ' . ' _. ' _ '_ , ... ___
<br /> ' ._ "' ' ` _ ' -_' _� - - �..__.�.__. - = -
<br /> _ `..J.._y -_�`� _�_� . _ " . � � . - - � � � 92-- �02693 �. ` �
<br /> � . '!. P��r�e�t d Pr3�ci�.I�te�at a�d Lwte Char�e. Bvrrawer s1�a�i pay wAen due the priacipat of.and irnenst an, ,
<br /> thG debt evideaced!sy the Note and late charges dtie�mder the Note. Borrawe�shalt Inctade in e�ch monthi m�� —
<br /> � � M�I WYa�b ot 73ue�.Lwir�iaa aud Otfler C6sr�d. Y PaY.
<br /> tagetAa witd the prtncip�l a,�d iat�rtsc as s�fortt�in tfx Idatr and any tate charges.an instaliment of any ia)taxa and
<br /> specal asse.csments ievied or w 6e kvied again.kt tl�PtapaTty.(b)fe�sehold paymais or�oiu�d rents an�he Ptogeity.and .
<br /> (c}premiums for insarusce�by Par�8rapls 4- �
<br /> —��
<br /> F�ch montltty it�sWlment for iums ta).(b)and(c)st�ll atual one-twelfth of tlte annual bmwnts. as rrasonablY , -
<br /> -_-_ ��m�ed by Lender.pius� �no�t;suffcient�ta m�riutain'�a�t ba�ef not m�e tl�t c+ne-ci�th o - - ___-- -
<br /> `e.uin�ted-anwupt5.' 'fbe full waua!amount for eacb itesn shall de accumulated by Lendcr withtn n period ending one •
<br /> . � ` month befae an item wadd liocwne deTurquent, I.ender sball twl�the amounu coltected�n trust to pay items(a)(b)and _
<br /> (c)befae they become delinquen� � `
<br /> - [f at any t�ne the total of the pay�nts 6eid by Letider for items ta).(b?�nd[c3.together with�hc futu�+e,mouchiy :
<br />- WY�� fa such items paysbk w l.ender prior to the due da(es of such items.exceedc by moce than ane-sixth the � . . _
<br />-_- esumated amaunr�of payments mquired t�opay siwfi items when due.and if pa. ts an the Note.a�e curtcnt.tl�cn Leadec _
<br /> = sdall eilbtr trfund the asxss over ono-sixth of the esuraated payments or i[the excess over one-si�ah of tire estiroatcd _
<br />- payments to whscquent payments by Borrower.at tbe optioa of Bomower. If the taal of the payments m�by Boaower _ --
<br />- : for�tem(a).(b),or(c)is�nsufficient to pay the item whcn due,then 8omuwer shall pay ta l.wltler any amount neces.sary•tp: _
<br />=�,' - maice ap the deficia�cy an or 6efoc�e the date the item becomas due. —
<br /> =` � � As used in this Securiry Tnsttament,"Sa�etary°meaas the Se�eGUY of Houstng and Utban O�evelopmbnt or his or het �,:.__:__�-
<br /> �1 designx, ln any yeas in whicb tbe lxader must pay s mottgage insurance premiam to ihe Secretary.eacf�manthlY PaYment �-��._-'�
<br />: ? �- shall aLso u�clude either: (i)an installsnent of the annual mortgage insurance premium to be paid by Lender to the "'���:,.�'--
<br /> Sacretary.or Ci)a mauhly charge i�stead-af a mortgage insnrance premium if this Security Instrument is held by the ..^'�`,`;-
<br /> - S�cnetary. F,ach_mw�thty u�staliment of thc'�tgage insutance pr+cmium shall be in an araoune sufficient to acc�muiate the � �:;;�_�:_
<br /> � fuU annual mortgage inswance premiuirs�-itli[,ender one montb prior to the date the futt,annnal mortgage insurance' _ ..: . _.
<br />�:Y.-� - p�emium is dne to the Secatary:or if th"ss 5ecur�y Insuwnent is held b�r the SecretarY,eacb monthly charge shall be in an : 'T.;-�'�,_:-
<br /> arnount equal to ane-tweTftb of ane-haif pement of t1�e outstanding princspal balana due ouu tbe Note•
<br /> • • �Borrower tendeis to Let�e�the full payment of all sums secumd by this Security Instrumen�BaiBwes's account "��` -
<br /> ,�_.:._ sha?��c�+edited with the batance remaining for all installments for items(a).(b)and tc)and any mastgage insurance � :_..�:s::r;.•
<br /> y� � pnem�imt instalJment that Lender ha�not become obligated to pay to the Secretary.and Lxnder shall prainptly refund any • �:'=-
<br />=� , excess_ftinds to Borrower. Immediatety prior to a fo�closure sate of the P�operty or its acquisition by t.ender.Barrower�s � __
<br /> - ' � ~' � account shall be cnedited with any balarce r�emaining for a11 instattmenu for items ta).(�)and(c). . :° �- `- . '
<br /> � 3 A p I k a t i o n o t Y f�y m e n t s. A U p a y m e n t s u n d e r F a r a g a p b s 1 a n d 2 s b a l l b e a p p lied b y Lender as f:�iows:
<br />`r:; � ` - _
<br /> =-�_':��� �t o t h e m o c tga g e i n s u r a n c e p r e m i u m to be paid b y l.ender to the Secre t a ry or to the morrt6ig d�.y rge by the ���
<br /> �_ �.- .;,.:'';'����� ` Seeretary instead of the mo�n�a'�y mortgage insurance p�+emium: : ' . � . . :���.i
<br /> '��f � '' ^ SE�OAiD-to any taxes,sp�i�assessmenu.feasehold payments or ground rents,and fire,f�ood and other hazard
<br /> � �.. �? = :�t.�� -
<br /> �5 ,..r � ;�s IASUTdIKC Q[CII11tlRSS.'d"+i�::ijUII�+3i � ' ' ` _ ;- J
<br /> . ;;�`�' �$Q to interesz due un�tli:Note: � .. ,;• ;.�'•
<br /> , � �.,: •_ ,:.. �::':`: �,to amau[izauon af tSr_principa�of rhe Note: -'';`,. ..-_�,;
<br /> :; � i, p�,w late charges due uadrr the KoTS. „ �"
<br /> d°r
<br /> . ,. 1 „ „t,,'� ,•r 4. Fhe,b7oo�aad bthes Nazud Insusaac� Sonuwer shall insure all improvemenu on the Ptoperry.wheti�er now 'r.- � :
<br /> `-���!r� in ea�stence or subse�uentty erecsed.against any hazards.easuaJties.anA contingencies,including fue.for which Lende.r . • ' � ;.
<br /> ��:��`!, .�� svqvirrs insurance. 71�"u insurance shall he mainta�ned tn the amounts and for the periads that Lender requties. Borr�u�rr , .
<br /> � � :�'.'•`,;'; �l-� shall ats�insure a11 improvements on the Prope�y.whethcr now in cxistence ar subsequently erected.against loss 6y t�aads . ,;� _
<br /> � `=�•'•:`.'�"~-' `" to the extent required by the Secretary. All insurance shaA be carried with compan�es approved by l.ender. 'the insuranee �•i"'
<br /> �'_�=;_���` `-` policIes and any renewals shall be held by Lender and shall include lass payable clauses in favor o�and in a form .
<br /> - : ' acceptable to.l.ender. . `�:;"��
<br /> `��`_'` .. _ . .
<br /> ; �.. _;.:_�f_T..► In the event af tass,Boaawer shat!givc l.ender immediate natice by mail. Lender may make proof of loss if not , y Y=
<br /> �r
<br /> ��;,r;Y:.;�: made promptly by Borrower. Eaeh insurance campany concerned is hereby authorized and directed to make payment for . •_,f .,r
<br /> � -�;���x��; such loss directly to l.ender.instead of to Bortower and ta l.endcr jointly. All or any pan of the insurance procecds may be .._;'',. �
<br /> ` `�'�� -'�'�� lied isy Lender.at ita optian,either(a)to the reduction of the indebtednesc undcr the Nnte and this Security instrument. • =.-v-_
<br />� • '��s��xY� � . i..�_�.,.-
<br /> r _��.��_ : : � �rst to any delinqueat amounts applted in thc order in Paragaph 3.und then to prepayment of pr�ncipal,or(b)to the � ';��-�,
<br />� • -:;s:�..%:..•' . restoration or repa�r af the damaged property. Any application of the proceeds�to the princ�pal shall not extend ar postpone ,
<br /> - -_ '.•� • the due date of the monthly payments whuh are referted tv in Para�raph 2,ar changc the Amoum of sucb payments. Any � _::; _�
<br /> .;;•.�r�;;.�..-. .
<br /> �^�;�,�,. ,...,t. excess insurance praceects over a�a artiount reqaired to pay a!1 uutctandmg indebtedness under the Note and this Secc�ity ' . . l��:=
<br /> , �,. ,, �.; • lnswmem shall be paid to the en:i*_y lcgally enti�led thereto. r •=�F
<br /> .�, tn the event of foreclosure of th�s Security Instrument or other Iran�fer of dQe tu the Property that exdnguishes���. ���'
<br /> lndebtedness.a11 righ�title and interest of Borrawer in and to insurance palicies in farce shall pass ta the purchaser. , .�,�„E--
<br /> . . `;, ,r F� ;���.' , ., R
<br /> �,�;,�,;.,, g, pccupancy, Pre.cervallon, Mainlenance and ProtecNo�o�the I'ropeety: Bor�owe�'s l.aan Application; �
<br /> � s t.`+ ' �'�hC ' . '. '�f{��..
<br /> -r �•. �r;; I.�hotds. Bonawer s6a11 occupy.c�tabli�h,and use the Praperty ay Bvrrvwer's pnncipal reyidence within s�xty days _.�.:
<br /> � � ��+�=�•s,F����:�� after 4he executian af this Security Intitrument and shall continue Ic�occupy the 1'raperty�9orrower's principal res�der.ce . .
<br /> °���*1��'a;.! ;�r� Yorat ieast one year after the date af occupancy.unlesx 1he Secretary determines this requ:uti�ent will causC undue hard�,�::p � ,
<br /> • , `�`�'�="���``= - ` for Horrower, or a.u-�1esy extenuating circurristances cxivt which �re 6cyand Bnnowerti canuol. Borrower shatl notify ' . •, .
<br /> ,:
<br /> " � .. Lendera af any ex•�uating circumstances. Bortower shall nat cammit waste ar de�troy.damage or substantiatly change .
<br /> • . ��-��' � � the Property or a13sw the Propedy to detcriorate,rcasonabJe wcar anJ tcar cxceptcd. Lender may mspect the Property if the � • ,
<br /> � . Prap�ty�s vacant nr abandoned ar thc inan is in dcfautt. Leruier may take rrarnnablc uc�ian ta protect und pre�erve such
<br /> ;;,;,�;'-:, ; � vxcxn*_or Abandoned Property. Borrawer rhall.�lsa bc in defs�ult if�artawer,during thc tuan s�pplication process.�av: _ �
<br /> t<; `�.•
<br /> ' �=,��,:..:�':•�:�.r,s: . t;�a:s�ia�ty fatse or inaccurate infarmation nr statemen�s ta l,ender (or faitrd t�� pmvide Lender with Any mai.�.:l
<br /> ��.�:�•'•;;;;:���,�• '
<br /> ..,:.l;:�i.;,,,,,r .� intom'►ation)in conncctian with ine luan evidenced by thc Nale.inrluding.t+ut nat limited to.representatianw concerr.=�a , '
<br /> , ..,�:.,.!�.-..�_ Barrowera oce�.�ry.oPthe PropeAy av�principal res�dence. lf thiv Seca:�t� Intitrument i�on a Ie�sehold.$orrower sha'I
<br /> .. �..�. ;,:E�.. ,
<br /> ',� t>��,:�•., , ; comply with thc psavi�ions�of thc lcasc. If Borrawcr acyulres fcr tiUc t�r.�:�'r'�percy.the tcaschold t�nd fcc titic shall noe ,
<br /> ' '� �''` " ' be merged untes.c[,endss atrees to the mergcr in writing.
<br /> � . � 6. ClarResto�ut�saw�rand Protection ot Lender'A itightw in the P'�a�perlv �ulruwcr shull pay aU governmrnt�l
<br /> - tsr ret�nIcipal charge�,fines ansl impnsitianw Ihat arc not incle�l:J in Par�gr::�h.:. 8:-naacr shuU pay thcse ubUgations on
<br /> � time directly to ihe entity whict�ic nwrd the payment. it`f�'stun t��p�ay wuft?d;�dvrr.rely affcct Lendcr w intcrest in the �
<br /> Properly.upon L.ertsf:r's requcyt 8orrowcr sh�ill pramptty f��:�c;i,,�tc�Lcndcc cwcipt�ce4dcncing th�sc p�aymcn�s. :•
<br /> . - . � ' If Boaowee faits to matce ihese paymentc nr the pavr,�cmtw rcyasrc�b} 1'aragrnph 2.ar fuilw ta perform any other
<br /> ' • cavenants and ngre�ments rontained in this 5ccurity instn:a^��t,or therr i�::1c�a1 pracccdin�ihat may si�;nifiruntly uffcct � ;
<br /> � . :`` -� � Lertder's rights in thr Prupetry I�urh as u praceeding ia ba.�.�s�Ruptry.fi�r randemnation or to enfarce laws ar regul�U�ns). � .
<br /> __ _ _ _ _ lheit Lsnder m:►y dv:utd p:+y whatcvcr is neccssary tu pmtcct th:v�luc at'the Property s.^3 LcnQcr's tighiy in the Property. j
<br /> . :.
<br /> . • : � � lncluding payment af ta�ees.h�.s�rd insuruncc and uther items mcntivned in f�aragraph�. ' � i .
<br /> - - - - Any tttnounts dlcbuned bv Lender under this Pvra�reph shali hecnnte a�:�dd�ti�n:il debt af 8�ru��vrr and be secured___ ____ _ : �
<br /> � by thiy Security lnswment. 'i$ese tunoums shall bear•�ntcrest from the dat:4f dizburscmcnt.at the Note rnte.and nt ihe �• •
<br /> • nption of�ender,sh�11 be immediateiy due and payable.
<br /> , . " 7. Caademnatiam 'i'he pracercts of an aw:ud or ct�im for damage�,direc!u�conccyuenti�l.in cunnection wlth any ;'
<br /> ,
<br /> , . ' coademnatian or ather taking oP any pan af i e Propedy.or ivr convey:uke in place aY cdndemnatian,are hereb sssl�ned
<br /> _ . ___.__ . �_____ and s6a11 be paid td l.endcr tn the extent a!the full tunnunt vf thc indcbtedness that rentarns unpaid un�icr the Note and this , �
<br /> �---- ---_--_-_- - . Sa'�tttity fnstmmem. l.ertder shait appty sn�ir prc�eJa tv dtr�rrleeti�►n etif t3te-iacte#xcds�css us;ctcr ti�c l�tote:uu!thl.��erutity �•�_._._..�._----
<br /> • . lnstntment.first to any delinqucnt xtnuunts Uppl�ed in thc or�lcr provided in i'�ragruph 3. :u�d then tn prcpayment of ; � .
<br /> ' princlp�l. My npplirsdion of ihe yruceedv to the principal sh:ill nul extend or postpone the due date af tfie munthly � , ,
<br /> . . . . ? .
<br /> . . ' F
<br /> _ . ��t2�J4r(!�P!) _ _
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