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<br /> 90�. �0203(�
<br /> L�'syrt�t at Ptlaci�:l. lRftcrKi��ld I.pit CAuie,BQ�raerr shall pay whon du�.the prinripal ot,and interest an, the deUc
<br /> evfdrnrec!by t!r Note and l�te cA�rgea due uader the Nate.
<br /> 3.Ma�1�y p�Y�t�af Taxt��taiwrtuce uN Oii�et Cisr�es.Bonower shali inciudc in each monthly p�ymont.to�ether wit h
<br /> � the ptincipal and ietetqt� set fi�Ih�n the Note and�ny I�te char�es�an instaliment oi any(a)taxes and special uuasments
<br /> levied or to be kvkd yair�st t�±�e l�rayerty,(b) lessehold paytnent�or�round rents on the Propeny. �nd(c) premium�for
<br /> � . insuraecc re4uired by Pr►r�r+iM�.
<br /> Brch montbly iaat�lMneat Soa iteuu(�}.(b)and(c)ahali equd ane-twelfth of thr annu�l orrtounts�as re�sse�na6ty estimated by
<br /> Lrride�.piw sn�rtia�u�+u�rwknt tu m�intdn�n additional batanre of not morc than one-siath af thc estim�trd amouots.The
<br /> futl annua)�rouot fa ach item shalf be accumulated by Lender wilhin a period ertdins one manth before�n item would
<br /> � , bcronse detinqvens.l.rs�det s!u!!hold the amouats colkcted in trust to pay itcros(a}.(b)and tc3 before they became detiaquent.
<br /> � If at anr tlne tAe tota!ot tlK payments held by Lendcr for items(a)�(b).and(c).totether with the future monthly payments
<br /> � for such item�p�y�bk to Lender prio�to the due dates of such items,exceeda by mor�thzn ane-sixth the estima?ed�tr:ount of
<br /> ` ps�mtrnt�roquired to p�y such items when duo. �nd if psyments on the Note are cutrent. then l.endes sha11 either re[und the
<br /> � ; aoa�over one•slxth af the atimatod paY�nts oe credit the exces+over one-sixth af the esdmated payments to subsequent
<br /> � pa�rnKntt bx Harawer.�t thr option of BoROwer. If the totel of the payment�made by Hor�ower for item(a).(b).or(c)is
<br /> , insufticknt to pay the item when due,then Bottavrer sh�ll pay to 4ender any�mount necessary to make up the det7ciency on or
<br /> � betae the date the item becomes due.
<br /> � � As used in tht�Security Instrument. ..Secretsry.. mean�ihe Secretary af Housins and Urban Development or his or her
<br /> desianee.Most Security tnstrumrnts insured by the Secretary are insurcd under projrams which require advance payment otthe
<br /> entirc moR�e insurance premiu�n.If th�s Secunty Instrument is or wzs insured under a program which did not require advanCe
<br /> paymeet oi the rntire mon�a�te insuru�ce premtum.then each manthly psyment shaU also include either:(i)an inst�liment of thr
<br /> � �utnual mortlase insunnee premium to be pald by �.ender to the Secretary, or(ii)a monthly charge inste�d of a mortg�ge '
<br /> � insurance premium ii thia Secudty insuument is heid by [he Secretary. Each monthly lnstallment of the mon�age insur�nce
<br /> premtum ahW be in an unount sufficient to�ccumul�le the full annuxl mort�e ins�r��ce premium with Lender one month
<br /> � prior to the date the tull�anu�l mort�a�e insurance premium is due to the Secretuy.or if this Security Instrument is held by ti�e
<br /> Secretary. ach monthly char�e shall be in��amaunt eyual to one-twelfth ot one•half percent of the outetanding principal
<br /> balance due on the Note.
<br /> i if Borrower tende��to Lender ihe full payment of all sums secured by this Security Instrument. Borrower's account�hail be
<br /> ; credited with the balance reTn�inins for all inxtallments far items (a), �b) and (c) and any mortga�e insurance premium
<br /> inttallment 1Mt Lender hu aot became oblij�ted to pay to the Secretary.and l.ender shall promptly refund any e�cess funds ta
<br /> Borrower. Immediately prior to a foreclasure salr of the Property or its acqui�itIan by 4endet. Botrower's account shail be
<br /> credited vrith any balance remainins for all installments fo�items(a). (b)and(c).
<br /> 3.ANMpdM o1 t��we�ts.Al)p�yments under puagraphs t and 2 shall be applied by Lender as t'ollows: �
<br /> F]$�j,to Ihe mart�e insnrance premium to be paid�y Ceader to the Secretary or to the monthly chuge by the Serretuy '
<br /> • instad af the monthly meagaae in�urance premiu�re, un.Fas Borro�ver paid the cntirc mongtgc insursnee�Eemium when this •�
<br /> ! SeCUrity litstrument wa�siened; �
<br /> i 'SF:CONQ,to any taxe�,specl�l assessmtnts,leasehold paymems or ground rents.and fire. flood and other hatard insurance '
<br /> prcmiute�.as reQuired; � .��`
<br /> �.ta ir.tartai dur ur.Ccr i2:r':at:; -_
<br /> FOURTH.to amortiution of the principil of the Note; • -
<br /> �.to late chaurses due und�:r the Nute.
<br /> �.I�Ye,Eloo��i Olier Has�N i�wruce.Borrower ahall insure aQ improvements on the Propeny.whether now in e�istence '
<br /> or auMequendy etected.�tinst tny hir.�rda,casualties,and contingenc�es,including fire,fer�tfich Lender requirrs ins�rrace.
<br /> This insurana shall bo m�intained ift t[te amounts and for thc per�ods that L.ender rrquires. Banower shall also insLre a!i '�_
<br /> improvtments on the Propeny,whether now in e;cistencc or subsequenUy erected.against loss by floods to tho extont required by -
<br /> the Secretary.All insurance shall be carried with coen�sa;�ies approved by Lender.The insurance policies and any rmewats shal!
<br /> be held by Leoder and sh�ll include loss pay�ble cla��cs in favor of.and in a Cet�m acceptable to. Lender.
<br /> In the event of loss.Borrower shall�ive Lender immediate notice by mail.Lender may male proof of los�if not made prompt-
<br /> . ly by 9orroxer.Each insurutce mmpaay concertted is heteby authariud and dirated to make payment for such toss direcdy to
<br /> Lender.instpd of to Borrowet and to Lender jointly.Al!or any put of the insurance proceeds may bt applied by Lender,at its
<br /> option.dther(a)tu the reduction of the indebtedness under the Note and this Security Instrument; Frat to any delinquent
<br /> amounu appliod in the order in Para;raph 3, and then to prepayment of Qrincipal. or (b)to the restoration or rcpair of the
<br /> dams�ed property.My tppliution of the pto�eeds to the principal shall not extend or postpone the due date af the montAly
<br /> payments which ue referred to in Paragnph 2.ot change the amount of such payments.Any excess insurance proceeds over an :��
<br /> ? amount requircd to pay all outsundins indGbtedness under the Note and thj3 Security Ir.strmneac shall be paid to the entity irgal-
<br /> ly mtitled thercto.
<br /> In the event of Foreclosure of this Security Instrament or other transfer of title to the Property that extinguishes the in-
<br /> dtbtedna�.all rijht. titIe and interest of Borrower in and to insurance palicies in force shall pass to the parchaser.
<br /> 3. trese*ssdo� a�d Mdtteraa ol tAe Property. Lease�p[�ts, Borrower shaA not commzt waste or destroy, damage or
<br /> substantiaUy chanje tht Ptoperty or altoM the Propetty to deteriosate,reasonable w•ear snd tcar excepted.Lender may inspect
<br /> ihe ptoperty if the proDerty is vuant or abandoned ar the toan is in default. Lender may take rasonable action to protect and
<br /> preserve such vacant oi s��ndoned property.lf this Stcurity Instrument is on a(e��efiatd.BorroNer shall cor�Dly with the provi-
<br /> � aiorts of the kise. 1f Bprra�ver�uires fee titte to the Property. the leasrho{d ac�fee title shall not be cnecged unless Lender
<br /> , �ree�to the mer�er in writin�.
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<br /> 6.C6u�es!o�rrawtr�ad holsctSoa o!Ltadtr's lti�6ss ie tbr Property.$Ot(Owef S1t3Ei�,3�a11 goti•eznmcntal or muni7pal
<br /> . chuses,fina anc6 impositiot�s tht[ue not incfuded in Naraaraph 2.Bono:ver shall pay thcu a�-[igations on time direcQy to the
<br /> entity which is o�reQ tl�e payment. If failure to Dap vould ad�•ersely affect Lende�'s intera�in the Propect,r, upon I.endec's re-
<br /> � quat Borrower shall promptly furnish to Lender rerhpts evidcncing these papr�ents.
<br /> 1f Borrov►�er f�ils to make thtse payments or the payments re�uired by Puagraph 2,or fails cn�erform any other covrnants and
<br /> • ajreements wntaintd in this Stcurity Instrument. or there is a legal proceeding thu may si�.ificandy affe�t Lender's rights in - -___
<br /> the Property(such u a proce�dinY in bankruptcy,for condemnation ot to tnforce iaws or regv�ations),then Lender may do and �
<br /> ;.:�:rlt':.:ss:s:sx:ssa:;ta;.:�tc:i t:s:r:;u;aY t:se°rop;,:ty ar�Lcnder's r�g;�t��n ii�e fituperty.i�cluding.Payme��i of t��a,
<br /> hu.ud insurance and other items mentioned in Paragraph 2.
<br /> Any amounts disbursed by Iender under this Paragraph shall became an add�tian�debt ot Borrower and be sr�ured by thiti
<br /> Security tnstrument. These amounts shall t�ear interest frorn the datc uf disbursement, at the Note rate, and at �he opt�on of
<br /> d,ender.sha11 be immediately due and payabte.
<br /> L 7•Cordefptiva.The procetds qf any award ur c(aim iot damages,direct or consequential.�n connect�on�..nh any condrm
<br /> nation ot other takins uf�ny part of thr Proveny,ot for�onvtyance m plttct�f conctemnation,are he�eby ass�gnn!and�hsll br
<br /> paid ro l.endct to the extent oE the t'uU amovnl of the indebtedness that remains unpa�d under the Noie and ihiti Secuntq In�vu �
<br /> ment.Lender shall appiy sucfi prorec�s to the reduction of ihe indcbudne�s undcr the'��ne and rhi��ecunty Inti�rumenr.first n� �
<br /> any ddinquenc amounts�pptird in thr•o�der pro��ded�n Paragraph 3,and then to prepa�cnrnt ot�nncipat Any np�lica�um ot
<br /> the proceeds tn ihe pnncipal shall not ertend or postpone the d�c date af thc monthty payment,. �tihr.h c�rc rekrred c� m ' y
<br /> Ppr�graph 2,ot change the an�oum of such payrnents. Any etces�procceds u�cr an amouni re�wrcJ r:+�,n::l1��u���andrn� m
<br /> debtcdness undrr �he Note an�! ttnc tie�uncy Instrument �h:�ll be p��d �c� �hc eni�n le�zdllti er,t�tled �1�rrer,.
<br /> 8. 1les. 1:nder ma4 .:�Ilect fee��nd�harqc�authurried P+� �he 5e:�e;.�rr
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