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<br /> . . , � 90�-101I50 . �
<br /> • i.P��ed ai Pri�eipti,l�terest i�ii.ata C6aRs.Banawer shall pay wher�dae the Drincipal of.and interest on.the debt
<br /> evidenced by the Note and I�te charga due under the Note.
<br /> -- � 2.Most11�Fi�ents ot Tues.taianece�ed Ot�er Chae�.Borrowsr shall inctude ia each monthly payment,togctlter with
<br /> the princip�l aad interest as set forth fin the Note aad any late charges,an installmeni of any(a)taxes and special asse�sments
<br /> tevied or to ioe Ie�i�a�is.�t t�t Fra�.-rt��,(bj l�hoi�payments or graund renu oa the Propertq, and(c)premivats for
<br /> in��ro*+ce requiTed by P3ngraph 4.
<br /> Faeb monthly installmmt for items(a),(D)and(c)shall a�ual onatwdith of th=a�lnual amounts,as reazQnably cstimated by
<br /> .Lcnder.plvs aa amount suffiacaE tn mintain an additional balutce oF not more than oaasixth of the esrimated amounts.The
<br /> full annral amount for each item shsll be accumutated Dy Lender within a period ending one manth beforc an itcm would
<br /> tsscomc delinQumt.I.eadrr shall hold the amaunts coi2ecte�in trust to pay items(a),(b)and(c)befon t*��ryr become delinquent.
<br /> if at aay time the totel of the psyments hetd by Lcnder for items(a),Eb),aud(c).together with the future monthly paymeats
<br /> for s�c6 ittms payable to Lender prier to the due dates of such items,excads by more thaa one-siath the tstimsttd amount of
<br /> — paymmts requind to pay suc1�items whea due.and iP paymenta oa[he Nate are current,thea Lender shall eifficr refund the
<br /> ascesc over oao-s�ath of the estimatcd payments or credit the excess over ane-sixth of the estimaud payments co sv8sequeat
<br /> paymmts by Borrower,at the opiion of Borrowu,if the tota!of the paytneats made by Barrower for iten�(a).(b),or�c)is
<br /> iasuffir.isnt to pay the item whm due,theca Borro�ru shaIl pay to Lendtr any amount nxessary to ma�e up tha def ciency on or
<br /> before the date the iteui beromes due.
<br /> As�sed ia this SecurIty Iattrument, "Secretary" means the Secretary of Housing and Urban Devefopment or tus or her
<br /> desigca.Most Security Insuumtnu inswed by the Suretary aze insured under programs which require advance payment of the
<br /> entin mar�tgage iasvrance premium.If this Sacurity Iastrument is or was iasured under a program wluch did not requirt advancs
<br /> � paymeat of the entire mortgage��n��nce premium.then each moatl�Iy paymrnt shaII also include either.(7 an�nstallmcnt of the
<br /> nanuai morrgage iasur�nce pr�inm to be paid by Lcnder to the Secretary,or(i�a moathly charge instead of a martgage
<br /> inc�..*s�ce prcminm if this Socurity Inswmcnt is held b�r the Suretary.Each monWly installment of the mortgage insuranee
<br /> premium sha11 be in an aznount suffccicnt ta aaumulate the f�all aanual martgage insurance pr�++�*m with Lmder one month
<br /> � prior to tbe date the full annual mortgage insurance premium is duc to the Secrctary,or if this Suurity Iaswment is hetd by the �
<br /> • Secrdary, each monthly charge shall be in an amount equal to onatwditb of one-half gercent of the outstanding principal
<br /> balancx due on tke Nofe. ,
<br /> If Bonower teaders to Lemder the full payment of all sums secured by this Security lnstrument,Borrowet's account shall be
<br /> ` c[edited v�itfi the balanCe reme�ning for 2ll installments for items {a), �;,:ad (c)and aay mortgage insurance premium �
<br /> instally�,.that Lsnder has not become obligated to pay to t�e�xretary,.a<-3 ixnder sha:t�romptly refuad any eaccess funds to
<br /> � Bonav�:_immediately prior to a forectosure sale of the Prcr.�Y or is a,r,_:::sition by Lende;. Borrower's accouni shall be
<br /> credited�ish any balance remaining for sU installmenu foz i:�..�ja),(�i}�:{c).
<br /> � �
<br /> 3.AppYadoi of P��senb.All payments un�n..�a.�gaphs 1 and 2 shai,tie app;ied by Lender as foUows:
<br /> :,',.,
<br /> ��W the mortgage iasurance premium to Fss;a;�by I.euder to the Secretary or to the monthly chazge by the Secretar� .
<br /> instead of the montfily mortgage insarance prtmiu�,�.tess Bonower paid the entire��c�gage insurance premium aluu this • �
<br /> Security L�'tstsumCnt was sigppd;
<br /> E�,to any taaes.s�eciai as.��ments.leasehotd pas:�e�u or ground tents.and ri.�e.flood and other hazard i�:..-�ance � ,
<br /> premiums,as requSred;
<br /> THIRD,w Interest due under the Note; ,
<br /> �1JRTH,to amortization of thc princiDal of the Note: -
<br /> �,to late charges due undet:he Note.
<br /> : �.
<br /> � �1.Ftre.Fbod ud Ot�er A�zud Ls�aece.Bonower shall insure a11 improvementa an the Property,whether now in erasience
<br /> _._._ or subseqacntly erected.against any hazards,cas�_�I�es�and contiagtaciss,ine`_udiag fire.fot which Lender reqnires insutance. —
<br /> � This iasurance shall be mtintained in the amau�s.and for the periods that Lender requires. Horrower shall also insure all ',
<br /> � improvcments on the Property,whethe*now in��::nce or subsequently etected,against loss by floods to the exten.rsqetired by
<br /> the Secr�ary.All insurance sha11 be�r!ied with companies a�proved by Lender.The insurance polici�.s and any re��a�ats shall
<br /> ' 6e held tn!Lender and shall inct�de I�s:;Dayable clauses in fac�>of.and in a form acce,table to,I.ender.
<br /> In the event of toss,Bonower sha:Z�ti�e Lender immediate nofsct by mail.Lender r.:ay;.:;�ice proof of toss iF not ma��Drompt-
<br /> ly by Bonawer.Each insurance company concerned is hereby authoriud aad�d..�:�ettd ta zake paymer.t for such loss directly to : �
<br /> l.ender,instead of to Bonower aad to Lender jointty.AU or any part of the i.s�;ance prc�cuds may be applied by Lender.at its
<br /> option,either(a)to the reduction of the indebtedness under the Note and this Secariry lnstrnment. first to any deGnquent
<br /> amounts applied in the order in Parzgraph 3,and then to pre�u.3�noat of principal, or<<,)to the restoration or rega:r af the �
<br /> . damaged property.Any appl�catioa al che proceeds to the pri.a:pal shall not extend or�vstpont the due date of t'::c�onthly
<br /> piyments which are refened to in Parrgyaph 2.or change the amount of such paymenis.Any excess insurance Drocoeds over an . �.'
<br /> amonnt required to pay all outstandi�irdebtedness under the Note and thi��artty Instrument sha116e�aid to the rntity legat-
<br /> 1y entitled thereto. �
<br /> In the event of foreclasure of tl.i��Security Insuument or other transYer of t:tie to t1�.e Proyerty that extingu�:'es the in- �
<br /> debtedness.all right,title and interc�of Borrower in and to i�:rance policies in fcroe_=L*.al1 pass to the purchase..
<br /> S. PnaerratM� ud Mai�te��sce of t6e Property, Leasebcd�dt. Borrower shall not commit waste or destroy, �'Gmuge or '
<br /> aubstantially chaage the Property or el2ow the ProDerty to deteriorate,reason,i3le weaz and tear excep:ed.l,ender rrµ;�inspect
<br /> the praperty if the property 7s vacant or ebandoned or the loan is in defauIc. i..ender may take reasonable action to prc�:sct and
<br /> Dteserve such vacant or abandoned property.If this Security Inr�r�ment is on a teasehotd,i3orrower shall comply widf u;r.�rovi-
<br /> slons of tht le�e. If Bonower acquires fee title to the Praperf.g.the leaschold and fee tit!,s shall not be merged unl�s d.ender
<br /> agtees to the mergcr in Hriting.
<br />• i.C�SH t0�UIMII'H s�O P101tttbl O!Lt�dt1'a Rl��ts Is tre Pro,petry.8orrower shall pay all govemmental or municipal
<br /> chuacs�fints and impositlon�that are not inctuded in Pars�graph 2.Borrower shaU pay Ihese ol�ligatians on time directly to Ihe
<br /> entity which is owed the payment. It failure to pay wauld r+dversely affect Lender's interest in the property,upon Lender's re-
<br /> , quest Borrower shzll promptly furnish to Lender receipts evidtncing these payments.
<br /> lf Barrower fa31s to matce these payments ar�he payments required by Pazagraph 2.or fails to perform any other covenants and
<br /> agreements contain:d in this Securiry lnstrument�ar there is a Iegal proceeding that may significantiy aPfect Lertder's rights in �-�- �- -`
<br /> , ihe Property(such as a proceeding in bankruptcy.for condemnation or to enforce laws or rcgulations),then Lender msy do and '
<br /> � pty whatever is necessuy to protect the value of the Property and Lender's rights in the Property.including payment ot t�es,
<br /> huud insurance and othet items mcntioned in ParagraDh 2.
<br /> � Any amount�disburaed by lender under this PuragraDh shall became an additional debt of Honowar and be secureci by this •
<br /> - . ��lY l�stsesaent.F�ese Etts�uat�sSss!!�iRtsrt�t irsssn thc d:ta aS dubu:ri.-asc�s,at thc it3te cate.and at iha ayil�;�ai . �
<br /> Lendcr,shalJ be immcdiatety du�and payable. �
<br /> � � y.Co�/etuUo�.The practtds af any award or etalm for damages.direct or cansequential.;n connection with nny cor►dem- ��;
<br /> nation or ather taYina ot anyput of[he P�aperry.or for comeyance in place 6icondemnation,are hereby assip,ned and shtUf br
<br /> ` paid to Lender tv the eatent at the full amount uf the indebtcdness that remains unpaid under the Note ar.d this Security ins2ru• ,�
<br /> ment.Lendcr qhal!apply such proceeds to Ihrreduction of the indcbtedness under�fie Note and this 5rcucity Inst►�;ment,first t� ��p
<br /> any delirsc�uent xmvunts apylied in the order ptdvided in Pazggraph 3,und thrn to are�payment of princip:il.Any applicatiun of !tl��
<br /> „� tht procecd9 tt►the ptincipal shalt nat eattrtd or pastpane tht due dnte oE the monthty payments, wtnch atc referred to in � �
<br /> � {'ufegt9qh 2,or rnange the amcwnt oF such paymrnts.Any ex6ess prdcecds over an amount required[o pay atl ui,���a��41inF_ii�• . -
<br /> i dtbl!dtTess under the Note au�l lhis Se�ut�ty Isisttumcn!shal!be p:►id to the ent�ty legally ennttrd thctote+.
<br /> 1!. ��ete. f trtdtt rrtay cnlIecl fcec and�harge:autl�urrreJ t+��tFrc ti:cretary.
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