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<br /> l.hy�3 of Pri�c1�1�Ietrerel�e�t��te CAute. Borrowor shaJf pa} wAcn duc thc principat of,and interest on. thr deht
<br /> oviJenreci by the Natc and late chuga ctue ut�der tAe Nate.
<br /> �.MoiUfy lM�b o!Tuw.laan�ce ud Otrer Cbu�,Borrower sh�ll include in each monthly psyment.tu�ether with
<br /> � the princip�l and interest a�set fotth in 1fie Note ind any lue ch�rge�,�n in�tallment of�ny(a)taxes�nd special Assessments
<br /> kvied or to be kvied�ainst the Prapeny,(b)letsehotd paymenta or ground rents on the Propeny, and (c) premiums for
<br /> � iiuunner reQulred by PuajrapA 1.
<br /> E�ch montt�insta!lment for items(a),(�)�d(c)tha31 equal ane•EWtlftlt OP f I1C NtHitla)tft10URtS.es reasanabfy atimated by
<br /> Leeder.plus an�mount satficirnt to mdnt�in an�dditioaal balance of noE more than one•s�xth of the atimated iunounts.The
<br /> fuA u�nua)unouet fo��ch item�hall be ascumulatM by Lender within a period endin�t ane month before�n item would
<br /> � become ck�nquent.Lrnder shall hotd the amount�cnilected ia trust�o pay items(a).lb)and(c)before thty become deUnqurnt.
<br /> !f at auy tlme the wt�l oithe p�yments ddd by Lender for items(a)�(b).and(c),together with the i'uturr monthly paymenu
<br /> to�such items p�y�tble to Lender prior to the due dates of sucb items,exceed�by more thAn one•si�th the atimated amount of
<br /> peymcnts rcquirod to p�y such items when due.and if psyments on the Note ue cureent,�hen Lender shall either refund the
<br /> eaoess over ane•si�cth of the estimtterl p�ymen4�or credit the eace�s aver one•suth of the estim�ted payments to subsequent
<br /> p�ymrnts by Hoaow�r.at the optlon of Borrower. lf the total of the payments m�de by Borrower for item(�). (b), or(c)is
<br /> intuft]cient tu p�y the item when due,then Borrower shall pay to Lender any unount nec�swy to make up the deficimcy on or
<br /> beforo the date the itnu becomes due.
<br /> � As uud in thie Socurtty lnstrument, "Sccretary" mqns the Secretary of Housin; and Ur6�n Development or his or her
<br /> daifnee.Most Security InstrnmenU insured by the Secretan are inclued under pmgrama which�ec�uire adv�nce pavn�ee�nt of the
<br /> eetire mort�e instuance premIum,/f this Security Instn►ntxct is or was dnsured under a program which did no!require advance
<br /> pYaxat oF the errtire mort�ye inswance premium,thrn eacll.caanthly p�rment shall also include eitAer:(1)an installmeni of the
<br /> annwl mortp�e Iasw�nce premium to be paid by Lendee�v the Secretary,or(ii) a monthiy chu�e lnstead ai a martgage '
<br /> inwranoe premiwq if thia Security Instrument is held Dy L�e Secretary. Each monthly installment of the mortgaae insurance
<br /> promium shaU be in an smount sufficient to Accumulate tlae f�ll annu�l mort�e insurance premium with I.eader oae mAnth
<br /> prior to ehe date the ftil)annw!�nonsaae insuranca premium is due�a the Secretary,or if this Security Instrument is hold by the
<br /> Secret�ry, each monthly chu�e shul be in in smou�t equal to one-twelfth of one-half percent of the ouutandina pflncipal
<br /> b�ltnce duc on the Note.
<br /> lf Borrower teuct�s to Lender the fup pay�erset of all sums secured by this Security Instrument,Borrower's Account shall be
<br /> credited rvlth the I�lance remainins for all irutallments faQ items (a)� (b)and (c) and any mortgAge insurance premium
<br /> � InstaIlmeat thai i,eader hu not become oblij�ted to pay ta�.�e Secretary�and Lender shall promptly refund any e�cess funds to
<br /> Borrowex, Im�ediatety pdor to a forectosure sale of the Preperty ar its acquisition by Lender,Bonower's acca�c�ret shall be
<br /> credlted with aar palana remalnin�for dl instaliment�for e:ems(a),(b)and(c).
<br /> 3.AMYc�qo�NlsY�b,All psymenta under puagtaphs 1 and 2 shall be applied by Lender as follows: . �
<br /> FIRS'F,to the mort�e insur�wa premium to be paid by l.ender to the Secretary or to the monthiy charge by the Secretarv
<br /> instead of the monthly mortsye insurance premium. unitss L4orrower paid the entire mortgage insurance premium when this
<br /> SecurEtr Imtrumem was slsned;
<br /> $F�4Q��to any taxp,spocial assessraents,leasehold ps�yments or ground rents�and fire.ilood and other hazard insurance ' ��_
<br /> � Drtii13ii1!'S.�li:vi]u�ii,a�: -�-
<br /> �$Q.to interost due under the Note; —
<br /> FOURTH�to amortizatian of the principal of the Note;
<br /> F1r3H.to late chlrRes due under the Nt�te. �
<br /> �•Ffre.I�7�oi�N Ot�er N�lwnace.Borrower shal!insure all improvements on thc Property.whether now in existence
<br /> , or subsequendy erected��ainst any haurds,casualtla.suqd wntingencies,includina fire.for which I.ender require�insurance. •
<br /> This insurancr shW be maintdned in the amounts and for the periads e�at Len�er requires. Borrowtr shall also insure all
<br /> itnprovaaents on the Ptoperty,whether now ia e�istence or sabsequently erected,agalnst loss by floods to the eatrnt required by
<br /> the Scct+etaty,All insurance shaU be carried with rnmpanies approved by Lender.7'he insurAnce policies and aay renewal�shap
<br /> be htW by Ltnder�nd shall include lass payabk clauses iQ �a�or of.and in �form aeer�+table to, Lender. ,
<br /> In t�e event of loss.Borrower shall�ive Lender immediate notice by maiQ Lender may make psoof of loss if not made prompt-
<br /> ty by Borroker.Each iasuranee eompany concerned is hereby authorized and directed to make paymeset for such loss directly ta
<br /> l.ender,itutad of to Borrowrer aad to Lender jointly.Ad or u►y put of the insurance proceeds may be appiied by Lender,at its
<br /> oP��.either(a)to the reduction oi the indebtedness uAda the Note and this Security Instrumeat, first to any delinquent
<br /> amo�tots applied in the otder in Par�raph 3,and then tcs Fre�aymrat of principal,or(b)to the restoratian or reRair of the
<br /> damatsd property.Any applicatian of the proceeds to the p�si�cipal shap not eatend or postpone the due date of c�e monthty
<br /> Wyments wh�ch are refetted to in Para�rsph 2,os change tt�e amount of such payments. Any access insurance p:oceeds over an � "
<br /> �mount requirtd to pay all outstmding indebtedness under tre Note and this Security instrument sh�ll be paid to the entity lega!- �
<br /> . ly rntitled thereto.
<br /> In the event of foroclasure of thi�Security Instrument c�r other transfer of title to the Property that exting¢is..�es the in-
<br /> debtedness.�ll risht.title and interat of Bortower in and �L insurance policies in force shall pass to the purchuer. '
<br /> s• �nsen�Ho�t� M�i�te�ute o� tre Fra,perty. Lease�olda. Bonower shall not commit waste or destroy, damage or
<br /> subsuntiWy ctunje the Property or tllow the Praperty to deteriorate,rwsonable weu and tcar eacepted. Lender may inspect
<br /> the preperty if the property is vacant or abandunod or the luan is in default. Lender may take reasonable action to protect and
<br /> prestr+rs such v�csnt or abaadoned DtoDeny.!f this Security tastruroent is on a kasehold.Borrower shall comply with the provi-
<br /> sion9.of the kase. If Bonower acqukes fee title to the Frv�perty.the lasehold and fee title shall not be merged uectess L.ender
<br /> � wees to the mer�er in writin�.
<br /> i.CA�to�orrowa a�i Ps�tettbR ot Lte�et'a lif�is as t�psa�st7;� gottOSxti s1s811 pay a11 governrttentei or municipat
<br /> charta�fiaa and impositions l6ac are nat included in Paragraph 2.Bonower shall pay these obligations on time directly to the
<br /> eotit�r�vhich is owed the payment. If failure to psy would adversely aftect Lender's interest in�he Property, upon Lender's rr-
<br /> � 4��n'owtr shtll prompdy furnish to Lender receipts evidencing these payments.
<br /> lf Borcower tails to make thtse paymeeu or the payments required by Parrrgraph 2,or(ails to per(orm any other covenants and
<br /> �mments cootained in this Secunty 1nsWment. or there is a legal proceeding that may significantiy affect Lender's rights in %- "---
<br /> Z��i�v��3 tiu�n lu a prvc.'eetiit�ih 6auxru�i�y. ior condemnation or to tnforee taws or reguiataons).then Lender may do and '
<br /> pay whattver is aeCessary to protect the value of the Propert,y and Lender's righis�n the Property,including payment of tazrs.
<br /> , huud insunnoc and othet items mentioned in PuagrAph 2.
<br /> 4ny amounts disbursed by I.nder under this Paragraph shall become an additional debt of Barro�er and br secured by this
<br /> 5�curity Instrument.Theu amounts shall hear interest from the d3te of disbursement, at the tiote rate,and at ihe aption of
<br /> Lender.shall be immMiatety due and payable.
<br /> L �'•Co�e�ptio�.Tho praseeds ot�ny award c►r claim for d�mages,dircct or consequaitial,in cortinection w�th any condem-
<br /> nalion or other takiag of any put of Ihe Propeny. or for conveyance in place of condemnat�on,arc hereby assigned and shall br
<br /> paid tn Lender to Ihc extent of the full amouni oE tl�t indebtedntss that remains unpa�d under the Note and thi�Yrcurity Instru• '#
<br /> tnent.I.ender shall apply such proceeds tn the roduction pf the indebiedness under the IVoee and�hr5 Secunty Instrumcnt,first re� ��
<br /> any delirtquent amounts appDied in the ordcr ptovfded in Paragraph 3, and then to pcepay�neni af �+rin�ipal. Any appl�cat�nn�,1 �
<br /> Ihe procetds to the ptincipal slial! not extend or pos�pone the due date of the rnonthly �+;��mrnts, Khich arc referred t� in �.
<br /> Par�aph 2.or change the amount of auch paymen�s. Any excess proceeds oser an arnaunt requued :i�pay a�l c,Wtitr�nd�ng in
<br /> � debttdctess under the Nott and thi; tiecuaity Ins�rument shall be paid ti�the cnuty legalt� ent��le�i ihe-cr�+ . .
<br /> S.k'rt�. [.aider tnay collc�i fees ��id chnrges authonred h� thc�crrcraty.
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