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<br /> -- ---_�._.. - - — TOiI�TH�R WTTFi +ill thc impro�emaus now or hereafter erected on the properry. and all e�scmc�as. d�hq.
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<br /> -==_ -- _ a�►Nuie�ruwce.�u�ia,iui�lii�w��iair,idZ,vii a�i'w�jaa i�y:t'o iS�j�I�J}:.o� ..ai.n.Z��iio w��oi�ri,w oiw a •�ntiii'�a��+�i u1�wlulaw�•
<br /> --- pan uf the property.All ceplacemants and s►�dioions shelt �Ieo be eaverod by tniR Savrity Irutrument. All of the fu�goiag ie
<br /> _ °Y�'� -- raferresi t�in tht�Sncuriry 3rwtrumcnt as Wc"Property.••
<br /> �::� [iORROWER COVENANTS tiwt Borrower is lawfully seisal of the cstatc harcby convcycd and has the right to gront and
<br /> - ca�vey the Property a�d that the E�roparry is unoncumbered, except tur encumbrances of record. Borrower warrants and wW
<br /> defend �enerally the dtle to the Property a�ainst all cl�ims and demordc,eubJect to any encumbrAnca of r�ecord.
<br /> __ 1.Poyment ot Principal,Interest and Iate Clwrge.Borrower ehall pay when due the principal of,wid inure�t on,tl�e
<br /> —���.�!'*�� debt eviden�ed by thc Note a�latc cfwr$es duc under the Note.
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<br /> __ ?��'�'"�°� 2.Monthly Poymenta ot TAZes, InsurAnce And Other Clwr�es. Borrower shall include in each monthly paytnent,
<br /> �— �. -_== together wlth the principal aad interest as set forth in the Note and any late charges. an inatallment of any(e)taxes and special
<br /> -- assessments Icvied or tu bc levled aguinst thc Property. (b) leasehold payments or ground renro on the Property. end (c)
<br /> ptemiuma for incurance rrquired by paragraph 4.
<br /> �`��=°-� Each monthly installment for items(A),(b).and(c)shell equal one-twelRh of the annual amounts,xs reasonably estimatod
<br /> -� _=�_�:-.�=°�r by Lender,plus an amount sufticient to maintain an udditional balance of�ot more than one-siath af the estimated amounts. 1'he
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<br /> =�=4�v:' "�;�•=:^ full wnnunl amount for each item shall be accumulated b I.ender within a r�od endin one month before an item would
<br /> -��"'�'�"��`j ��`i bccomc dc8nquent. Lender ehall hoW the amounts collected in tnist to pay items (a)g(b), and (c) beforc thcy bccome
<br /> � ���`.�:'�":'����r dolinquent.
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<br /> -`Y�.._ :`,.;�;���. ` If at any time the total of the payments held by L.ender for items (a). (b), and (c), togetbcr wlth the future monthly
<br /> � �"" • payments for such items payable to l,ender prior ta the due dates of such items,excee�s by more than one•sixth the estimated
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<br /> -��: , amount of paymenta required to pay such items when due,and if payments on the Note are curreM. then l.ender shall either
<br /> ��� '�r+'Y.�'�'•'.%�" ;,, refund the excess over one-siath of the estimated paymenta or credit the excesa over onc-siath of the estimated payments to
<br /> = `�• ... �.. ��� subsequent payments by eorrower.at the option of Horrower. !f the total of the payments made by Borrower for item(a). (b),
<br /> _.f:�:� �''���'"�"'� �"'Y or (c) is insufficient to pay the item when due, then Borrower ahall pay to I.ender any amount necessery to meks up the
<br /> - r�^r�� dchcte on or before the date the nem becomes due.
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<br /> - ,,,,,,:�.�,., � As used in this Security Instrument, "Secretary" means the Secretary of Housing and Urban Development or his or her
<br /> - �_i.- � , designee. In uny year in which the Lender must pay u mortgage insurnnce premium to the Secretary,each manthly payment
<br /> - � � '. shall also include eithar:(i)an installment of the unnual mortgage insurunce premium to be paid by C.ender to ihe Secret�y,or
<br /> =��� �,s�:'��: � (ii) a rnonthly charge instead of a mortgage insurunce premium if this Security Instrument is held by ihe 5ecretary. Each
<br /> "�:� . �� ° monthly installment of the monguge insurunce premium shull be in an amount sufficient to accumulate the full ennual martgage
<br />_?� �r , _ insumnce premium with Lender one month prior to the date the Full annual mortgage insurance premiurn is due to the Secretary,
<br /> _�'• -.,Y� or if this Security Instrument is held by the Secretary, each monthly charge ahall be in an anwunt equal to one-twelfth of
<br /> _- F' '''"��� one•hatf percent of the outstanding princlpal balance due on the Nate.
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<br /> .� ;. ;;,.�w, , If Borrower tenders to l.ender the full puyment of ull sums secured by this Securfty Instrument. Borrower's account shall
<br /> '�,.,, �, �. . ' be credi�ed with the baluncc �ems►ining for nll instullments for items (A), (b), und (c) und nny mortguge insurnnce premium
<br /> f°. ,� � , inst�llment�hat Lender has not become obliguted ta pay to the Secretary, und Lender shnll promptly refund any eacess fuixis to
<br />_--..�., „�,� + t Borrower. Immediately prior to a foreclosure sule of the Propeny or its ucquisition by Lender, Borrower's sucount shall be
<br /> n '„'�°;. cred'ued with any balance remnining for�II inswllments for items(a).(b),and(c).
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<br /> •• `�.+�•��-�'"�"�="' 3.Applicwtion of Payments. All payments under paragrnphs I und 2 shall be applied by l.ender as follows:
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<br />-"'� �r,• � First,to the munguge insur�ncc premium to be ps�id by [.ender to the Secretary or to the monthly charge by the Secretary
<br /> _,,�:; �*. instead of the monthly murtgage insurarxe premium;
<br />-,.- � ��s�"• "�•�. •�� Srcon�i, to uny taxes, special usxessments, leasehold pxyments or ground rents, and fi�+e, Itood eod other hazard insurence
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<br /> �,.��.�;� � premiun�s,as required:
<br /> . •''",�+-' Third,to interest due under the N�ne;
<br /> ' , "-4• - Fourth, to umoiti•r.ation of thc principal uf thc Nute;
<br /> � • • ^`"''''� I=iflh,�o late chorges due under thc Note.
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