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<br /> 9�.�.02289
<br /> 1.P�ymest ot Pri�clpN.INterryt�sd l.�te GAarRe. Qorraw•er shali pay�vhcn clue the pri�ripal of,And intcrc:t on, thc debt
<br /> �videncYd by the Note euid lete char�es duc under the Nate.
<br /> 2.ModU�l�y�ewb ol Tua.l�e�wnece��d Olker CMupea.[iorrower sl�all enclude in cach monthly peyment.together with
<br /> (� the principal and interest u se1 focth in the Nate+u►d uey tate chardes,�n insullment oF uny(a)taxes and special assessments
<br /> � kvied or to E�e levied uainst the Property, (b)leaseAold payments or grouud rents on the Propeny. and (c) premiums for
<br /> insuranrc rtgpire 1 by Pan�taph,.
<br /> Each monthly installment for items(�).(b)and(c)ahnll equal one-twelfth of the Annual amaunts,as reuonably estimated by
<br /> Lender.plus an iunount sufficicnt to mdntdn an additionai bal�nee of nat mo�e th�n one-sixth of ehe eslimated amc►unts.The
<br /> full �nnual amount far e,�sh itero shaU br�ccumulated by Lender wlthin a periad endin�ano month before an itrm would
<br /> become delinquent.Lender sl�all hald the s�mounts callected in t�ust ta�y items(a),(b?+md(c)before they 6ecame delinquent.
<br /> If at any time the totd of the paymenu hetd by Lendcr for items(A).(b).and(c).together with the future�nonthly paymenu
<br /> for auch items p�yabk to Lender prior to the due dates of such items.exceeds by more than one-skth the atimatcd sunount of
<br /> payment�requfred to pay such items when due.and if paymenb on the Note ue curcent.then Lender sAall either refund the
<br /> oacas over one-si�th of the atimated payments or crcdit the eacess over one•sixth o1'the atimated payments to subsec�uent
<br /> paymeau by Horro�rer, at the option of Borrower. If the tota}of the payments m�de by Bonower for item(a),(b),or(c)is
<br /> insalticient to pay the item when due.then 8onowar shap pay to L:nder any amount necessary to make up the deficiency on or
<br /> before the date the item becomes due.
<br /> As used in this Securiry Instrument, "Secretary" means the Secretuy of Housing and Urban Developmeat or his or her
<br /> desijaee.Most Security Instruments insured by the Secretary ue insured under programs which require advanco payment af[he
<br /> entire moRpse lasuranoe premium.If this Secudty lnstrument is or was insured under a program which dld not require advance
<br /> p+�ymeat of the endre mort�a�e insur�nce premium.then es�ch monthly payment shall also include either:(9)su�instapment of the
<br /> annual mortgaje itisurana premium to be paid by Lender to the Secretary.or (il)a monthly charge instead of a mortgsge
<br /> i�uwance premium if this Security Instrument is held by the Secraary. Each month3y installment of the mortgage insurance
<br /> premium shall be in an amount sufticlent to accumulue the fuU annual mongage lnsurance premium wlth Lender one month
<br /> prior to the dste the full annual mortgage insurance premium is dne to the Secretary,or if this Secudty Instrument is hold by the
<br /> Secrctuy,eaca monthly charRe shW be in an unount equal to one-twelfth of one•half percent of the outstanding principal �
<br /> balance due on the Note.
<br /> ' lf BorroMer tenders to Lender the full payment of all sums secured by this Securiry Instrument,Borrower's account shall be
<br /> credited wlth the balance remaining for all instullments for itelns (a), (b) and (c) and any mortgs�ge insurance preminm
<br /> installment that Lender has not become obligated ta pay to the Secretary,and l.ender shall promptly refund any eacess funds to
<br /> Borrower, immediately prlor to a foreclosure sale of the Property or its acquisitlon by Lender, Bonower's account shall be
<br /> credited with any balmce remaining for all installmenu for items(a), (b)and(c).
<br /> 3.Ap�Ncada►ot Payanv. All paymenu under paragraphs 1 and 2 shall be applied by Lender as follows: .
<br /> Fj$$r,to the mortgage insurance premium to Ix paid by Lender to the Secretary or to the monthly chuge by the Secretary
<br /> instead of the monthly mortg�ge insurancr premium,unless Bonower paid the entire mortgage insurana premium when this .
<br /> 5ecurlty Instrument was signed�;
<br /> SECOND,to any ta�ces,special assessmenu,leasehold payments or ground rents,and fere,flood and other hazard insurance �
<br /> praniums,u required; -
<br /> ��$Q,to inttrest due under the Note; - -
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<br /> - ..+.2.....� :�:.uGiaaiwa vL G�uic y�uici�u vi uia i�vac;
<br /> �j,to late charga due under the Note. -� =
<br /> 1.Fle�e,�lood a�d Ot�er Ha�r�lawraace.Borrower shall insure all improvements on the Propeny,whether now in oxisteuce -
<br /> or subseqnendy erccted,against rny huuds,casualties,and contingencia,including i'ue,for which Lender requira inswaace. .
<br /> Ttus iasurance shall be maie�tained in the amounts and for the periods that Lender requires. Borrowet shall also insure a31 ' •�
<br /> improvemtnta on the Property.whethor now in euistence or subsequently erected,agtinst loss by tloods to the eatent reguired by �
<br /> the Secretuy.All insnrance shall be carricd with comDaaies approved by Lender. The insurance policies and any renewals shall
<br /> be hNd by Lender and shnll includ�loss payab:e clauses in favor of,and in a form acceptable to,Lender.
<br /> In the event of loss.Borrower sha11 give I.onder immediate notice by mail.Lender may make proaf of loss if not made pro�pt- �
<br /> ly by Borrower.Each insurance company rnncerned is hereby authorized and directod to make payment for such lou dirady�o
<br /> Lender,instead of to Borrower and to Lender jointiy.A!1 or any part of the inswance procads may be appGed by Lender,at its
<br /> opsiun, either (s)to the raluction of the indebtedaas under the Note and this Secvrity Instrument, first to any delinquent
<br /> �monats applied in the order in ParagraDh 3. and thea to ptepayment of principal,or(b)to the restoration or repair of the
<br /> damaged property.Any application of the proceeds to tfie principal shaU not extend or postpone the due dato of the montltly
<br /> payments which are referred to in Paragraph 2.or change the amount of such payments.Any excess insurance proceeds over an '`�
<br /> unount required to pay al1 autstanding indebtedness under the Note and this Security Instrumcnt shail be paic!to the entity Icgal-
<br /> ly entided thereto.
<br /> in the event of foreclosure of this Security lnstrument or other transfer of tat4e to the Property ihat extinguishes the in-
<br /> debtedness.aU right,title and interest of Borrower in and to insutance policies in force shall pass to the purchaser.
<br /> S. Praerrstiw a�d Mai�teaa�ce oi tre Property. Leau�olds. Honower shall not commit waste or destroy, damage or
<br /> substantially change the Property or stUow the Propeny to deteriorate. reasonable wear and tear excepted.Lender may inspect
<br /> the property if the propeny is vacant or abandoned or the lw�n is in default.Lender may take reasonable action to protect and
<br /> preserve such vacant or abandonM propeny.If this 5tcurity Instrument is on a teasehold.Bonower shall comply with the provi-
<br /> sioru of the lesse, If Borrower acquires fee title to the Propeny, the leasehold and fee title shall not be merged unless i.ender
<br /> agrees to the merger in writing.
<br /> 6.CY�to Sorrower ud Protectlo�ot Le�der's Ri�Yb 1�tre Property.Borrower shall pay all governmental or municipal
<br /> chu�a�fines and impositions that are not included in Puagraph 2.Borrower sha11�pay these ob�:gations on time directly to the
<br /> entity which is owed the payment. If failure to pay would adversely affect Lender's interat in c�:e Propeny,upon I.ender's re-
<br /> quest Borrower shall promptly furnish to Lender receipts evidencing these payments.
<br /> If Borrower fails to make thesc payments or the payments required by Paragraph 2,or fails to perform any other covenants a..�d
<br /> aqreements contained in this Security Instrument,or there is a legal proxe�ing that may significandy affect Lender's righ•s:� %_=___
<br /> the Prp�eryy(s��ch as a�+�a�,eeding in ban�ruptcy,for con�tmn�tinn nr to r,nforce lawsor regulationsl,then l.cnder may do and '
<br /> pay whatever is necessary to protect the value ofi the Property and Lender's rights in the Proprrty,including payment of taxes,
<br /> hazard insurance and other items mentioned in Pazagraph 2.
<br /> Any amounts disbursed by lender under this Paragaph shall become an additional debt of Borrower and be secured by t�:ss
<br /> Security fnstrument. Thue amounis�hall bear interest from the date af disburserreent. at the Note rate, and at the option r.f
<br /> Lender,shall be immediately due and payable.
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<br /> L 7.CosdtmasUoe.The proaeds of any award or claim for damages,direci or consequential,in connection with any condem- �'
<br /> natzon or other taking of any part of the Property,or far conveyance in place of condemnation,are hereby assigned and shall be �
<br /> paid to Lrnder to the extent of the full amount of the indebte�ncss that remains unpaid under the Noce and th�s Sccurity Insrru• �
<br /> ment.l.ender shall apply such procceds to the reduction of the indebted�:ess under c he Note�nd this 5ecurity Inst�ument,first to ��
<br /> any deiinquent amounts applied in the ordcr ptovided in Patagraph 3.and then to prepayment of prin�ipal.Any application oF �
<br /> the procceds to the principat shalt not eatend or �ostpone the due date of the rnanthly payments, µh,ch arc referred to in �;..�
<br /> f'aragraph 2,or change the amuunt of such payments.Any excess proceeds o�er an amount reyu�red to,ay al!o�it�tanding in-
<br /> dcbtcdness under the tiote and th�s Secunty Inslrurnent shall be pnfd to the cmit� legatly enutled iheretn
<br /> a. i�'e�s. I.ender roay cc�llect fees and rhnry,et authc�nred by the Secretary
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