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<br /> BORROWER CnVP,N/lNTS�h�t Bunuwor Ix l�wtuliy rclrod at tho e.�atc hereDy��eyod1 d'has t�he d�ht to
<br /> gnnt�nQ cunvcp thu Pr���erty Mnd ttt�t�hd Pr��perty Ir un�ncumf�Cred�oxcept f��r cncumbranoea af r000rcl. Hurrownr
<br /> wNrrant��nd wlll dutond�norNlly�ho tltlu to thn Prupeny�Nin�t All clalm�xml dcnund�,�ubja:t to any cncumbroaoes
<br /> �t rncard.
<br /> 'TH1S S�CUEtITY INS'IRUMENT uomhina ualform a�vcnanu for natlan�l wo and non�unUarm oaveruiata wlth
<br /> IlmltcG varlatiuns by Jurlsdlctiun tu amRtituto a unitorm�:urity Inurumcnt an+ering rcal pro�sorty.
<br /> UNiTORM COVBNAN'I5. BonoEVer and�..ender cov�enant And agreo as faQows: ,_
<br /> X p���p��l,uto�t�d Uto C�tp. Horrower shall pay wben duo tda pr[nclpsl o�and interest
<br /> on, ihe debt cvidenocd by tho Note rnd lato chuges duo uader�he Note.
<br /> Z ��p,�er�o�•i�os.I,wr„oe,..d olUa[ci�c�e�, norcowcr shal�Incluae in each monttay payment,
<br /> to�CStUer wlth tbe princlpal end interest as set forth la che Note and sny late chuges�u aum for(a) texes rnd apecial
<br /> auessments levled or to be levlod againsc the Propcny�(b)Ic�s�hold paymenu ar ground rents on the Property�and
<br /> (c) promiums for Iasurenoe tcquired under��ragraph 4. In any year in whdch the Leader must pay s mongage
<br /> tnsur�ace pr�emivat to tbe Secretaty o[Houaing and Urban Development('Secret�uy"),or in any yeu in whicb such
<br /> pten�lum would hsve bcen requircd if Lendet stiU held tha SocurIty Instr�maat,each monthly payment shall also
<br /> include either:�i)a sum for tbo annual mortpjage Insuraaa premium to be patd by Lender to the Saretary,or(ii) a
<br /> monthty charge Instead of a mortgage iasuranoe premium i[this Secur[ty Iastrumaat!s held by the Secratary�in a
<br /> reasonable amount to be determined by tl►e Secretary. Fxcept for the monthty charge by the Secretaty.Wese items
<br /> ue alled"Fscrow ltems"and the sums pAid to Lender are called'Fscrow Funds'
<br />" Lender may,at any cimo,oouec�a[►d hold amounts for Escrow Items in an aggregate amount not to acoad the
<br /> madmum Amount that may be required for Borrower's escrow acoount under We Real Estate Setclement Procedues
<br />• Act ot 1974,12 U.S.G 2601 et�.and jmpkmeating regulations�24 GFR Put 3511D,as theY m�y ix amended f�m
<br /> t(meto time("RESPA').except that the cusblon or rese�ve permitted by RESPA for un�ntldpatod dlsbursemeats or -
<br /> dtsbuisements before the�orrawer's payments are available in tLe acoount may not be based on amounu due for the .
<br /> mortgage lnsurance premium.
<br /> ltttze amounts 6eld by Lender for Eserow ltems exceed the ampunts permitted to be held by RESPA,Lender shaU
<br /> a000�ut to Borrowcs far the excess tunds as required by RESPA. TT ahe amaunts ot funds beld by Lender at aay dme
<br /> atC not su�c[ent to psy tke Escrow Items when due,Lender may notIty the Borrower aad roquire Bonower to malce
<br /> up the shart�ge as permitted by RFSPA .
<br /> : The Hsarow F�nds are pledged a4 a�tiisional securlty tar all aums secured by Wic Security Instrumea� If Barra�w�er
<br /> iat:de►b.iG i,wnuci tua fu1S ,u..,��:��„�.`•275�!Sl�L2S.P^mxye r'g{�tsntn�nit ChaU bG CICII�tM WII�4��YIinCC TCItliI11U�
<br /> ' far.all ins�iUinent items(a),(b),and(cj s�nd any naort$age iasvr�anoe�naiium installment thwt Lem�u hAS not bc�me
<br /> � obl9�ted to pay w the Sa:etaty.aad Lender shall pzompttlr tefs�nQ a�euass funds to Boimaaer. Immediately prior
<br /> w s toreclaaure sale of the Property or its aa�uisitlon by irender,�orrawePs aoom�nt�sh�ll be credited with any balaaca
<br /> rem�lning for all installments for items(a)�(b)�and(c).
<br /> 3, Ap��oa of pay�mts, All payments under paraBraPhs 1 aad 2 shall 6e appHed by Leader as follows:
<br /> �,to ttia mnrtg¢ge insuraaa pramiuta to be paid by Lender to tho Secretrty or to the monthiy cbarge by tbe
<br /> Sxretary iastead oi the monthly mortgago tnsuranoe prcau�m,
<br /> �COND•tio any tazes�spedal assessracnts,leaSehoW paymenu or gtound rents.and 5n,800d and otder h�zetd
<br /> laswana pre�aiums�aa ro4uired�
<br /> �;�,to intenst due under the Note;
<br /> PaLRTH•to amortizatian oP tbe prindpal of the Note;aad
<br /> �,to lata charges doe under the Note.
<br /> 4. FI�e,Pk�od ad Otba I�Lars I�ts�oa Borrower shall insure all improvements oa the Propocry.whether
<br /> now Ia adstena or subsequeatly�raKed.eBainst a�►Y�rds,caswilua,8°d oondngendes,Including Sra,for which
<br /> Lender roquires insurana. '1Lis insurana shall be mtintainod !n We amount�and for tha perlod�c that Leader
<br /> reqnires. Borrowcr shall also tnsure a11 improvements on th�Property,whether aow in odstena or sut�oquently
<br /> ereqed.aSaiust loss by floods to the extent required by the Secretary. All iasuranoe shaU be c�rriod wlth oompnnies
<br /> �pproved by Lender. 'Tbe insurana polic[es and any renewals shall be held by I.ead�r and ahall include los�ptyabk
<br /> clauscs in iavor o�aa�!in a form aooeptabie to,L,ender.
<br /> Ia the evcnt af loss�Borrovver sh�U give Lender immodiate notice by meil. Lender may malce rroof of loss it not
<br /> made prompdy by gorrower. Eech insurance compaay oonoernod is hemby authotized and dirocted to miicc payment
<br />= for tuch loss directty to Lender, instead of to Bomnvver and to I.ender iointly. Ali or any part of We insuranoa
<br /> prac�eds may be applled by Lender,at its option,etther(a)to the induction of the indebtedaess under the Note and
<br /> thisSec�rity Instcument,Hrst to any delJnquent amounts applied fa We order in puagr�ph 3,and then to prepiyment
<br /> of prindpal�or (b) to the restoratlon or repair of the damagod Ptoporty. Aay application of the proo�ecis to t6e
<br />.= princ[pal shall not extend or postpone the due date of the moatdty payments which are reiorrecl to in paragraph 2,or
<br />- chan6e thc amount ot such pxyments. Any excess tasurance prooeecLs over an amount required to pay ail outstanding
<br /> - lndebtedness under the Note and this Securlty Instrument shall be patd to tho entity isgally ontided therato.
<br /> - In the event of foreclos�ue of this Security Instnunent ar ather uansfcr oi UUe to the Property that axtinguishcs
<br /> � the indebtedness, ull dght, title and interest of Bonower in and to insurance policics in foroe shall pass to the
<br />_ purchaser.
<br />� s. oocap�ag►. P�+aeivatbn. Mainceaawe aaa Protecxjon ot th� rropacY sorroMe�"a I,oan Appticatioa:
<br /> - I,e�eboW�. Borrower shaU oocupy,establish,and uae tha Property as Borrower's principal residenoe within sixty days
<br />-- _�.�a.c��`.�t...i.......���/..�..wN.iw ei�..da.r..Le Inm.eula ns f�nneFs�►n*fhP PMffAfW�911fI S�7IIII
<br /> Qitcr i:nc cxu.�uiivn an uv��.ws.�.,.o.,.......,..�.., .........o...y..�o.....»........._...���-------r---..----
<br /> - ooniinue to oocupy the Pmperty a5 Borrower'a principal residenoe for at least one ycar after the date of oa:upan�y.
<br />- uni�ss Lender determines that roquirement wW canse undue hardship for Borrower, or unlc�s extenuating
<br />= clrcumstenoes exist which nre beyond Bonower's eonuol. Bonower shall notify I.ender of any extenuacing
<br /> a x�ews�cw-�+ussn oF�tusr �
<br />, y �,�,..,�y,,,,.m►��eoo��+►uu Pagc 2 of 6
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