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<br /> ' !.lsfmtse o!CHMIptl. Intest�f ea�i.l11e�h�ne. f�otrowtr shall �ay wAcn dae the principa!of, and intertst on,thc dcht
<br /> e�idenced by the Note and I�te cha��ec due uader t6e Note.
<br /> � 2.MoNtIF�h�ee�b ot'iaa,f�wn�ce ud Olher C1u�e�.Bottower shalt includc in ea:h manthly psymertt.to�etAer v►1t1�
<br /> tl+e principd and intereat u set fonh in the Noie and any late chu�es. �n installment of any(a)uures and speci�l assessmen��
<br /> levied or to be kvkd yain�t the Propeny,(b)kuehofd p�ayments or�round rents on the Fropcny,and(c)premiums for
<br /> � Insuranc�cta�irtd by Par�riph 4.
<br /> Eaeh monthtY toatallmeat for iteu��(s?.tbl and(c3 ah�l!eqwl oae•twdlth aP the�raaua!smcs�nts,a�rasonabty atimaced b�
<br /> l.ende�.plus a�n�mount�u�ficknt ta maintain an�dd�uonal balaace of aoi more�han one-sixth of the esumatcd+uuounte.The
<br /> � fu11�nnwl amcwat Eor ach item ahall`be�csumutated by Lende�witAin •periad endins one month beforc�n itern would
<br /> � become deNnquent.I.ender sli�ll hoW the atr►aunu celIected in trust to paY items(�).tb)and(c)before tAey become detinquent.
<br /> !f�t�Y tiu�e the totd of the p�yments heW by Lender for items(�).(b), aad(c),tnjether with!he fuwre monthly p�y�eats
<br /> for auch itmu p�yabie to Lender pdor to the due dates oi surh itema� eacceds by more than one-sixth the atimated unount of
<br /> � payments requdred to p�y�uch item�when due.and ifi p�ymnnts on the Note ue curcent,then Lender�hap either rtfund the
<br /> � � exau ova one-siaeth of thc atimated psSrment�or ciedit the excess over one-siuth of the estlmated MYn►ents ta aubsequent
<br /> p�yments by Hortower.at the option of Borrower, lf the total of the p�yments made by Borrower far item(a),(b).or(c)is
<br /> iasutficieat to pay the item when due�t6en Borrower shall p�y to Lender�ny amount necessary to m�ke up the deficiency on or
<br /> beforc iht date the item become�due.
<br /> As uxd In thi�Secu�ity Instrum�nt, "Stcretuy" meuu the Secretary of Housin�and Jrban Ikvelopment or his or her
<br /> desi�tee.Most SeeurIty instruments insured by the�ecretary are insured under programa which require�dvance payment of the
<br /> cniire rnart{sse insurance premtum.if this Securily Instrument is or was lnsured under a prognm vrhich did not require advance
<br /> � p�yment of the endre mort�e insutu�ce ptertiium,then ach monthly p�yment shali�Iso inrlude eIther:(i)an instaliment of the
<br /> � � �nnual mort�e insurance premium to be paid by Lender to tAe Secretary. or(ii)a monthly chu�e instad of a mQrtgAge '
<br /> . insuanee premium if thi�Security Instrument is held by the Sec�retary.Each monthty instapment of the montage insurance
<br /> , prcmlum ihall be in an�mount sufiicie�t to accumutate the full annual mon�a�e in�urance premium with Lender one moath
<br /> p�ior to thc date the full annwl rt�ort�e insur�►nce premium is due to the Soc�rrary.or if this Securitp Instrumcnt is held by the
<br /> Secretary.each manthly chu�e shaU be in an amount equal to c�ce•tvtdt�of one-half percent of the outsanding princlpal
<br /> ; balance due on thc Note.
<br /> �. lf Botrowe�tenders to Lender Et�t(ull payment of all sums secared by thia Security Instrument.Bonower's account shall be
<br /> credited wlth the balance remainin� for a!1 installments for items (a),(b) and (c) and any mongage insurance prtmium
<br /> � installnxnt that Lender hu not become obliaated to pay to the Sectetary,nnd[.ender shall promptly refund any excess funds to
<br /> 8orro�rer.Immedi�tely priar to a foreclwure sale of the Property or its acquisition by Lender. Borrower's account shaU be
<br /> credited with any bal:nce remalning for all instali�+.xats tor ite:�s(a). (b)and (c).
<br /> 3.A�atiw oi la�r�b.All pa}-ments under paragrap:�s ! and 2 shall be applied by Lender as follows: �
<br /> � �j@�.to the mortj�e insurance premium to b�paid by Lender to the Secretary or to ihe monthly charge by the SevKetary '
<br /> ; instead of the monthlu enort�aje insurance premium. unless Borrawer puc3 td�e entire n�ortgage insuranee prem3um v�ien thls
<br /> a Secu�ity Imtrument was siR�ed;
<br /> � ` SECOND. to�ny tues.spocial assasrnents.leasehald p�yments or ground rents. and fire,tlood and other hazard insurance ' ,,;�
<br /> � ' premium�,u required; `�-�_
<br /> ; ��J$�,to inttrcst due under the Notr. ,�t',�
<br /> ! ��, to�monization of the princip�l of the Note;
<br /> FIFI'H.tn late rh�nre due nrufrr the Nnte.
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<br /> � �1.Fks,Eb�u�OtYer Huar+d Iw�s�ee.Bonower shalf insuse al!improvemenu on the Propeny.whether now in existence
<br /> or aubsequtntly atrted.a�ainst any huards,casu�lties,and continaencia,includins fire,for which Lender requires Er�surance.
<br /> 'i'his insur�ncr sh�l be maintained in the amounts and for tke period�that l.ender requira. Borrower shall alsa ec�sure all �
<br /> improv�xnents on the Property.whether now in exi�tenco or subsequently erected,o6ainst loss by floods to[he eatent requ"ved by
<br /> � the Secretary. All insuranee shall be carried with mmpaaia appraved by Lender.The insurance policia and any renew�Ic shai!
<br /> be held by Lender an�s,hall Include loss payable clauses in favo�of, and'a�z form acceptable to.Lender. �
<br /> j In tRe event of losa.Borrower shall pve Lender immediate natice bv mail.Lender may make proof of loss ii not madc prompt-
<br /> i 1y by Bottowet.Fach insutana coa�p�ny concetned is hereby auL!:oriud and dirocted to make payment for such loss d'uectly to
<br /> Lender.inste�of to Borrow�er and to Lrnder jointty. All or a:aK�art af the insurance proceeds may be applied by Ler.c:er,at its .
<br /> : optioa. titlier (a)to the roduction of the indebtedness under tT�e Note�nd this Security Instrument, first to any delinyuent
<br /> � amounts applied in the orda in Putjraph 3, aad chen to pnpsymrnt of principal,or(b)to the restoration or repair of the
<br /> damqed propetty.Any appliation of ihe proceo�s to the principal shall not extend or postpone¢he dur date of the monthly .�.;,�
<br /> p�ymeat�whieh are referred to in Pua�raph 2.or change ths amount of such payments.Any excess insurance proceed.c over an ;��:
<br /> amount requ'ved to pay all outstanding indebtedness undet�he Note and this Security Instrument sh�ll be paid to the em,ety iegal- �"'
<br /> . ly eatitted thereto. ��
<br /> In the event of foreclosure of'thir Stcurity lnstrument ar other [ransfor of�itle so the f'roperty thai eztinguishes the in-
<br /> � debtednas,all right,title and interat af Barrawe�in and to insurence poI:i:its in force shall pass t¢ tdt purchaser.
<br /> S. �raeryado�a�d Md�teu�ce ot t�e Property. I.ene�olb. Borrower sh�ll not ceereasit waste or datroy. damage or
<br /> • substu►Ually chan�e the Propetty or�llow the Propetty to detniorate. reuonable wear ar.d tear eace�ted. Lrnder may inspect
<br /> tLe propettY if the property is vr.ant or abandoncd or the loan is in drfault.Lender may take rcasqRa�te action to protect and
<br /> � DraerYe auch vac�nt or abaadot�ed pcopeny.lf a�,isSecurity lnstrument is un a leasehold.Borro���rr sha:l comply with the pro�i-
<br /> sions of the lease.lf Bonow�er acquires fee title ta the Property, the teasehold and fee title shal! not +se merged uatess l.cnder ,
<br /> yreea to the mer�er 9n writin;.
<br /> 6.(�[�es te R��o1rl�*�trotlrtloh�t I.tflitr's Ri:Als�1i1e i�ugett�.Rc�rmwer xhafl p�y aU gc�vunmentsil ar municipaI
<br /> chujGS,tines and impositions that ue not included in Pu�graph 2.Borrow•er sh�ll pay thcse obliqations on time directly to the
<br /> erttity which is owtd the p�yment. It'failure to pay wouid advetsely affa�Q.ender's interest in the PraLeerty,upon Lender's re-
<br /> � quest Borrower ahal!promptly f�rnish to Lender re�-e;pts evidencing ehese payments. •
<br /> If Bnrrower fails to make these payments or the payments required by Parograph 2,or faits to�erform any other covenants and
<br /> � a�retmrnts contdned in this Seeurity Instrument,or there is�Irgal proaeding that may ssgniCcantly affect Len�er's rights in .-_ -- -
<br /> � . � the Praperty(such as a proctedin�in bankruptcy,for condemnalion or to enforce laws or regutat�ons), then I.ender may do and •
<br /> pay whatever is necessuy[o protect the valueof the Property and Lender's rights in the Aroperty,inctuding payment of�axes, .
<br /> haxatd insurance tnd other items mentioned in Paragraph 2.
<br /> Any amounts disbursed by tender undeY this Paragraph shall become an additionul debt of 8arrower and be secured by this
<br /> Security Instrument. Thest amounts shall txar in:erest irom the datc of disbursement, at the Note rate, and at the option of
<br /> 4ender, shall be immediatdy due and payabte.
<br /> L 7.Cowk��atb�.The prc�cetds of any award or claim for damages, dua-t or con�equenhal, �n connection with any condenr
<br /> nation or olhrr tmking of any pari of the PrupGrty,or for conveyance in place oi rondemnataon,are hereby assigned and shali bc•
<br /> paisl to l.endar to Ihe extens of!hr ftttl amount nf the�ndeht�dness that remam:unpa�d under ttie 11ote and thiti Secutuy lmtru
<br /> m�nt.l,ender shallupply surh prc�c;eeds to thC�educt�on o(lhe indebtedness unc�er the�oce and th�s Se�:ur�ty In�trumrnt,Gnt t�� �`'
<br /> � any detinquen4 amounts appli�d m the t�rdet prrn�ided in Paragra�h 3, and t hen tu prepay ment of pnnupal. �1 ny a�sph.atwn ot �
<br /> ` the procetds to the �nncipal shaU not extend or p�stponc the due date vf�he momhly payriente, which are referrrd ��� �n ,*
<br /> PaxagrAph 2, ot change the amount of such payments. Any exce55 proccedc u�er an amvunt re�uirtd t��pay all c+ut�canJ�n�in ,
<br /> debtednrss undcr the Nc�te and �hia Secunly Insttument shall be paid t.��he enhty Icgalh cnt�:tcd thrrcn� �
<br /> 1�. Ftey. I ersdrr ir�ay wite.t fre�and chargeti authi�rired h� �he �ceretaiy
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