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<br /> :. _________ TUOE'TfIER WI'CH alt tho iropmveanenu now ar hercaftcr enxtod on the PropertY. and dl euement�� d1�u. ,
<br /> appurtcn�nce�,rend,�ayaltla,minenl.oil and gu�i�hta and proAu,water ri4hlc pnd�tocic ur�l all tixtu[a now ar beraftar a
<br /> prrt of the prcparty.All �+eplacemaui�td additiaw�Iwll alw be oove,nad by IhL Security la�tnunGU. All ot the foer�oity a ,
<br /> refcrrad W in tblt Security In�trument�the "Property."
<br /> . _..z _��� BORROWER CUYENANTS that 8orrower is lawfully sefsed of tha estate hercby aonveyed�nd has the right W�rant and
<br /> -- oonvay the Propwty�rd tlwt the Property is unencumbered.except for encumbrances of raord. Burrower wur�nts and wi{I
<br /> ---- defend a�nerslly the dtk to the Fnnl�e�tY a8ainu all claimc�u�d demondr,wbJect w�ny aiwmbaaoes ot reoo�d. _
<br /> . 1.�ay�aa�t ot Principal,imere�t wd Late Char�e.Borrower tlwll pay when duo tbe priaclp�J oi.aod iaterat on. Ihe
<br /> dcbt ovide�by the Nate and lato d�r�es duo under the Note.
<br /> _--� __---- - _«-.��
<br /> 2. Mout6ly Paymenfs ot T�[a, IasnrAnce w�d Other C6st�es. Butrower shail inciude in each mon Y P�Y�•
<br /> togcther with U�e princip�l And interest As sa fnrth in the Nae and any late charges,en installment of any(a)tues ud qwci�l
<br /> - assessmente levied or to be leviad against the Property. (b) leaceiwld paymenta or �round raus on the P�operty. aad (c)
<br /> Pnaniuma for iawranoe required by pua�raph 4.
<br /> 8ach momhly inatallmtnt for itans(a).lbl.aed(c)shall equxl one-twelfth of the annual arnau�ts.as rcaso�wbly estimatod
<br /> a - _ ----- -� by l.ender,pius an wnounc sufticient w maintaln an additional balance af not mora�han one-sfxth of the estimated amounts.Tho
<br /> s.____— full annual amount far each item shell be axumulated by Lender wlthin a periad endi�g one month before an itan would
<br /> - - ----_=_-= be�rome delinquent. Lend..: slwll hold the �unounts collected in mist to pay itans (u). @). ard (c) boforo thay beeo�m
<br /> _-- -_-- delinquent. .
<br /> If at any time th� total of the payments held by Ixnder for items (u),(b), nnd (c),�ogether with the future monthly
<br /> -- pAyments tor ach items payable to Lender prior to the due dates of such items.exceeds by more tt�n one-siath the estimated
<br /> s �unount of paymenls required w pay such items when due. and if payments on the Note are current,then Lender stwll either
<br /> -�'�_ , refund the exaess over one-sixth of the estimated payments or credit the excess over ane-siath of the estimYtod payments to
<br /> 1-�Q� subse�ueot payments by Borrower.at 1he opdon of Borrower. If the total of the puyments m�de by Horrower for item(a),(b). -
<br /> or(c) is insufficient to pay the item when due, then Borrower shall pay to l.ender any anwunt nxessary to make up the
<br /> - defici��cy on or before the date the item becomes due.
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<br /> -��t Y` As used in this Security Instrument, •`Secretary" means the Secretery of Housing and Urban Development or his or her
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<br /> -° 'i.� �` designee. ln any year in which the l.ender must pay u mortgage insu� premium to the Secreu►ry, euch monthly payment
<br /> �.;:� �hall also include eilher:(i)en inswllment of 1he annual mongage insurw�ce premium to be pzid by l.ender to the Secretary,or
<br /> � �` t (ii) A monthly chsuge instes�d of a mortgage insurance premium if this Security In�trument is held by the Serretary. Fach
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<br /> --,�� : �;:'�e,e-�� ��o_: �, monthly installment of the mortgage insurunee premium shall be in an amount sufficient tv accumulace the full annual mortgage
<br /> �`� �'�":.:� ��- ��+�'• insurpnce premium with Lender one month prior ro the date the full sinnu�l mortgage insurance premium is due to the Secretary.
<br /> - � ��•~-��;=•��:���{^�'" or if this Security Instrument is held by the Secretary, each monthly chuge shall be in an amount eq�w�l to one-twelfth of
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<br /> one-half percent of the outstending principal balance due on the Note.
<br /> �.• • � - lf 8orruwer tenders to Lender the full payment of all sums s.°cured by this Securi�y Inurument,Borrower's ac.�count stwll
<br /> ,N.y.-v�:,�,n
<br /> -� be credited whh the balance remaining for all installments for items (a). (b), nnd (c)and any mortgage insursuice premium
<br /> � :�-•��% installment that Lender Mas not become obligated to pay to the SecretAry,su�d Lender,holl promptly refund ar►y excess funds to -
<br /> �"`"6-"' . F .' •'" Borrower. Irwnodiately prior to a fareclosure sale of the Property or its ucyuisition by l.ender, Borrower's acrouM shali be --
<br />--� ^ ���� ��-�¢' credited with ony balance remaining for all incrallments for items(u).(b),suid Ic). _
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<br /> - .. �.'.�. r-,- � 3.Appl(catiou ot Payments.All payments under parngtaphs 1 ond 2 shall be applied by L.ender as follows:
<br />- ''-"- � Firsb to the mortgage insurance premium to be paid by Lender w the Secretury or to the nx►nthly charge by the Secrewry
<br /> `•. . inue�d of�he monthly mortgage insurunce premium:
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<br /> •,. . Second.to any wxes,special assessmenls. leasehold payment�or ground rents,u�u1 firc.t7aid�nd other hazard in�n+�
<br /> � ....'° premiums,as required:
<br />�.�.':� � •�: .:.� .� ..=�..: Third. to interest due under the Note:
<br />- - ,q�. ;�•�• Fourth,to pmortization of the principal of the Note:
<br /> - ° Fifth,[o late charges due under the Mote.
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