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<br /> TOOETHSR WITH RII the improvemcatr now or herc�ftcr erected on thc prapeny. w�d wll cs�cemcntc. dQhu,
<br /> -- �ppuncnances,rent�.roywUies,miner�l.oil and�a�riahta pnd proflts, weter dgMs�nd ctixk wid all f�xtures nnw or hereafter a
<br /> part of tho pmpeny. AII rcplaoememc and additionr rlwli�lro be coverod by thi9 Sawity Inwiumenc. All of ttie fore�oln�b
<br /> refcr►od w in�hic Socurlty Inwrumen��ihe••Property.••
<br /> -`_�`���� BURROWER COVBNANTS �hat Borrower is lawfully scised of tho es�ate hcrcby c�nveyed sud has the rlght ta Qrant wid
<br /> convey the Pmpetty and that the Propeny is uoencumbered. ezcept for encumb�nces af record. Barrower wamnts and wiU
<br /> ----�-__�-=�� defend gcnerplly 1hc U�le lo thc Property ayainst all cl�im�antl demands,cubject to nny encumbrancxs of rocard.
<br /> �-=---� --_ - 1. 1'ayment of Prindpnl.lnterect ond I.ate Clwrge.Bormwer�Iwll pay when due the principal af.w�d interest on. the
<br /> `o"�`-"���� debt cvidenced by ih�Nae aint!Uue ch�es due und�r the Note.
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<br /> -��� 2. Monthly Payrneats ot Tazes, Insurnnce And Othc�' Clwr�es. Barrower shull include in each monthly payment, _
<br /> . ___ _ __ i_y� together wlth Ihe principal und intercst us set fonh in the Notc and any late charges, un ins�ul Iment of ony(a)taaes and spoclal
<br /> ------�'�;� 4ssessments Ievled or lo ba levied ags�insl the Property. (b) leaschoid payments ar ground renta on the Property. and (c)
<br /> - - �--r^�� premiums ior incumnce reyuirai by paru�n�ph 4. _
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<br /> �_,�,E,;� Fach manthly insiullment far iloms(u).(b),und(c►shulf eq�wl one-twelfth of the wnnual wnounts,as reasotwbly estimatod
<br /> _ - �� by L.ender,plus an wtw►unt Fufficient to maintain an additior�l lwlance of nM more than one-vixth c�f the estimated amaunta.The
<br /> ;s,�;��i-;, full annuul amount fcx euch item shall be accumuluted by l.ender within u pe�iad ending one rnonth before an item would __
<br /> -=---_��:�::;°: become delinquent. Lender shidl hold the amuunts rnllected in truat �o pay icems (a1. (b). and (c) 6efi�ne they b�x�omo _..
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<br /> '• ' ��{;;' • _ If nt uny time the to�ul of the payments held by Lcnder for ilems (a), (b), and (c), togethcr with Ihe future monthly _
<br /> .i�:t �;r � ,�f payments far such items payable tai l.ender prior ta the due dates of such items,exceeds by more than one-siath the estimated
<br /> �%;,, � :
<br /> ' ��������: anwunt of paymcros rcquired to pay such items when due, and if ppytnents on the Note are current, then l.ender shall either _
<br /> ' �'. refiind the excess over one-sixth ai the estimated payntents ar credit �he excess over one-sixth of the estimuted payments to
<br /> " '=" ��'. subsequent payments by i3orrawe�.at the option of Borrower. If the total of the payments mude by Borrower for item la). (b), -
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<br /> _ n , r,:_-,;;. or (c) is insufficient lo pay the item when due, �hen Borrower shall pay to Lender any sunount necessary ta mike up the
<br /> " � ' � ` deFciency on or before the date the item bxames due. "
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<br /> �-_= Ac ured in this Secu�f�y tnurument. "Secreuw' means the Secretary of Housing and Urban Develupment ar his or her
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<br /> - - ' � � ;f;a�,, designee. In any year in which the l.ender must pny u mortguge insurunce premium to the Secretary, cach monthly payment
<br />- - �'-��1:�+�'�:��r• shall also include cither: (i1 uo installment oP the annual mon a e insurance remium to be �d b l.ender to the Secre or
<br /> �.. B � P Pa� Y tery•
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<br /> _ v � .���;�� (ii) a monthly charge i nslead af a mortguge insurnnee premium if this Security Instrument is held by the Secretary. &ufi
<br /> _- ° � ����'� monthly instWlment of the mortgage insurance premium shall be in un umount sufficient[o uccumulate�he full annual martgage _
<br />_.�;� � '� insurance premium wi�l� l.ender one month prior to the dnte the fuU nnnual mortguge insurnnre premium is due to Ihe Secretary,
<br />��� �:�'''•''. �°v��� or ii this Se.cucity Ins�rument is held by the Secretury, exh monthly charge shell be in an +unount equal �o one•twelflh of
<br /> "�;�z;'�;^`:� ��-• -'' o�e-hulf percent ai the outstanding principal balsince duc on the Note.
<br /> --- � ' ", „ ' ' If Borrower Icnders ro Lender the full puymem of all sums securcxi by this Security Instrument, Borrower's uccount shull _
<br /> '-e��• be credited with �he 6ulunce remaining for all installmems for items (A►. Ib), and (cl and uny mortguge inzurunce premium -
<br /> "'� ^ iaccallment thut L.ender has not become oblig�teci lo pay to the Secretary.urxi Lender,hul!pmmptly refund nny ezcesc funds�o ��-
<br /> '9� `� � ' ;.�I��r.• Bornnwer. lmmediutely prior �a u fareclosure sule of thc Property or its ucquisitinn by Lencler. Borrower's account shall be F
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<br /> ' ����`;:�.�;` credited with any balance reinaining for nll instollments for items(a),(bl,and(c1.
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<br /> �. � ��:"`���' ° ". -. � 3.AppNcallon af Payments. All payments under paragruphs 1 and 2 shall he applieci by I.cnder as follows: =
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<br /> ��'����. ':, . , First, to the monguge insurance premium to be paid by Lender to the S��cretary ur to the monthly chnrge by the Secretsuy =
<br /> �w ��,,,, iastead nf�hc momhly mongc�ge in,urunce premium; ��
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<br />_�;� . ;�,s;l.;_.� Second,to any taxes,speciul ursessments, leasehuld payments ur ground rents, ancl fire, flood und other harard insuranoe �
<br />::;,; ' , '''^: premiums.us reyuirc:d:
<br /> � ,.�,i��.t� Third,to intcrest duc under thc No[e: �
<br /> ' ' ���ti'`•�'� �ounh,to�nonlzation��f�hc prinripal�if the Note;
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<br /> •• Fifth,tu la�e chargc..Jue unci�r the No�c.
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