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<br /> ' 1,rqnest ot l�liclfal�I�ktest��d Wte C��Re.Borrower shall pay when duc the principal of.and interrst vn,ihe dd�i
<br /> evl�denced by the Note and i�te char�e�due under the Nate.
<br /> � 2,Mo�lle�r Pt�wewq of Tua.l�nnice�N�I�eeC�u�a.Bottower shall includc in each monthly payment.toge�her with
<br /> the principal and interat�set fonh in 1he Note and tny tue chujes.an Instaliment of�ny(a)taxes and special assessments
<br /> lcvled ot to be levled�dnst the Property� (bl te�seh�id piy�r+tnts or Qraund renta an the Propcsty. And (c)premiums for
<br /> in��rinse rsQufred bY P��Ph 4.
<br /> Fach monthly irutallment[or items(�).(b)and(c)shali equ�l one•twelfth at che Annual amounts.as reasonably estimated by
<br /> Leeder�plu�an unount suffic;ent to maintdn an�ddidanal Dalance of nvt more thu�one•sixth of the esUmated�mounts.The
<br /> tutl u►nuai anwunt for each item shsll be�ccumulated by Lender vritAin a perlod endln�one month beforc an iecm would
<br /> become deliequrnt.l.mder shW hold the amounts wlkcted in wst to pay items(a),(bj and(c)before thep become dellnquent.
<br /> If at any time the tatv of the{wymenu held by Lender for items t�).(b).and(c),toaether with the future monthly p�ymenu
<br /> for�uch itrnu parabie Ro Lender prior to the due dita of such ittm�.oxceeds by more than one•ai�th the estimated amount of
<br /> pym�nq cequiced to pay such item�whea due,aad it paymrnts on the Noto ue curnat,then Lender sh�ll either rofund the
<br /> eaass over wu•:iath of the atimated payments or credit the exoas over one-sixth of the est�m�ted payments to subsequent
<br /> ' payment�by Dorrower.at the option of BorroMer.If the total of the p�yments m�de by Borcower tor item(a),(b),or(c)is
<br /> insu(ficknt to pRy t6e item�vhen due,thrn Bnrrower shall p�y to Lender any unaunt necess�ry to make up the defici�ency on or
<br /> baforc tl�e date the item beoomes due.
<br /> As wed in this Security Insuument, "Seccetary" mesns the Secretuy of Housin�and Urbin Development or his or her
<br /> � desi{nee.Most Secudty lnstrument�insured by the Secretary aro insured under prajramc which require adv�nce WYinent uf the
<br /> ; eatlre mort�e insuranoe premium.If this Secudty Instrument is or was insured uader a projram which did not require�dvance
<br /> payn�ent of the rntlre mortiyelnsurancc premlum�then e�ch monthly payment shall also include either:(i)m 3nsullment of the
<br /> � amroal mortp�e inswana prqnium to be p�ld by Lender to the Sectetuy,or (in a monthly chuge instead of a mort�age
<br /> insu�aoe premium if this Securlty lnstrument is held by the Secretary. Each monthly insullment af the mortj�e insurance
<br /> • premium shW be in an amount suf�clent to accumul�te the full annwl mortgage insurance premium with Lender one month
<br /> p�ior to the date the fiill annu�l morts�e lnsurance premium is dae to the Secretary,or if thl�Sa�urity insuument is heid by the
<br /> Secraary�eacd munthly chu�e shall be in an amount equ�l to one-twelfth of one-hdf percent of the outstanding princlpal
<br /> bsi�nce due on the Note.
<br /> lt Hortower tmdera to Leader the fuA payment of aU sums sxured by this Security lnstrument,Borrower•s xccount sh�ll be
<br /> credited with the balance rem�ining for atl insullmrnts for items (a). (b)and (c) and �ny mortgage insurance prcmium
<br /> inshllment thst Lender ha�not become obliaated to pay to the Socretary.and Lenda shall prompdy refund any exoess funds to
<br /> Borrower. Immediately prior to a foreclosure sale of the Proper[y or its acquisition by l.ender,Borrower's account shall be
<br /> credited with any bafance remtining for all irutallments for items(a).(b)and(c).
<br /> 3.ANlle�do�ot�y�ewti.AU payrtnenu under paragraphs 1 and 2 shall be applied by Lender as follows: �
<br /> FJ$,�,to the mort�e insuruice premium to be ptid by Lender to�he Secretary or to the monthly chuge by the Sectetary '
<br /> instead of the monthly mortp�e insurance premium.unless Borrower paid the entire mortgage inswance premlum when this
<br /> Security Iastrument �vt�sip�ed; _
<br /> SEGOND. to any tua,special assessments.leasehold payments or ground rents,and fire,fiood and other hazud insurance I
<br /> ' onmiums, as ree�uired; _— -
<br /> m]$Q, tn intercst due uader the Note; �
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<br /> jj�,to late charaes due ue�der the Note. -
<br /> 1.Fkr,bloo�aM pt�er pmM Iwn�oe.Borrower shall insure all improvemenu an the Prdperty.whether now in existence �
<br /> or subsequendy eneted.a�ainst u�y hazards,casualties.and contingencia,ineiudin�f rc,for which l.ender res�uires insurance. ��_
<br /> THis insurana shall be cnaintalned in the amounts aad for the periods that Leader requires. Borrower shall�iso Insure all _
<br /> improvements on the Property,whether now in txistence or subse�uently erected,agiinst loss by floods to the eatent required by �
<br /> the Socretary.AU insurance shW be curied with companies approved by I.ender.The insurancx policia and anY reaewats shall
<br /> be held by Lender and ahall include loss payable clauses in favor of.aad in a form acceptabk to, Lender.
<br /> in the event of loss.Borrower shall give Lender immaliue notice by mail.Lender msy make praof of loss if not made prompt-
<br /> � ly by Borrower.Euh insurance company conccrned is hereby authorized aad directed to make paymcnt for sueh loss directly to
<br /> Lender,instad of to Boaower and to Lender jointig.All or any patt of the insurana proceeds may be a�►plied by Lender.at its
<br /> optlon, eithtr(a)to the reduMion oF che indebtedQess under the Note and this Security instrument, �rst to aay delinquent
<br /> ' amounts applied in the order in Paraara�h 3.and t�en ta prepayment oi princi�l,or(b)to the satoration or repair of the
<br /> dacn�ed property. Any application of Ne proceeds ao the principal shall not extend or postpene che due date of the monthly
<br /> paymenb which ue referred to in Para�raph 2,or change the amount of such payments.Any excas insucance Droceeds over an
<br /> amount required to psy�l outstending indebtedness under the Note and this Security Instrument shall be paid to the entity legal- ,
<br /> ly entitkd thetMO.
<br /> In the event of foreciosure of this 5ecurity Instrument or other transfer of titlo to the F'ropeny that extinguishes the in-
<br /> debtedness,all right.tiQe and interat of Borrower in and to insurance policies en force shall pass to the purchaser.
<br /> S, p�aHo�a�d Mti�te�a�ce ot tl�e Propetty� LeauYolds. Borrower shail not commit waste or destroy, damage or ,
<br /> substantiWy chuige the Propeny or allow the Propeny to deteriorate,reasonable weu and tear eacepted.Lender may inspect
<br /> Ehe properEy if the propecty is vacant or abandonad or the toan is in default.Leader may take reasonable action to protect and
<br /> preserve sush vacant or abandoned propeny.lf'this Secu�ity lnstrument is on a leasehold.Borrower shall comply with the provi-
<br /> sions of the lease. If Bonower uquises fee eitle to the Propetty. the leasehold and fee title shall not be merged unlas E.mder
<br /> s►gre�s to the merger in writing.
<br /> f.(�ar�es to Eorrower s�d Protatiio�ot Lesier's Ri��i�the Property.Borrower shaU pay all governmental or municipal
<br /> chu�rs.fines tnd impositions tl�at are csot dncluded in Paragraph 2.Borrower shall pay thae o6ligations on cime directiy to the
<br /> entity which is owed the payment. tf Fai3ure to pay would adversely affcct Lender's interest ia the Pro�.+erty,upor!snder's re�..
<br /> quat Borcower shall promptly furnish to Lender receipts evidencing these payments. �
<br /> if Borrower fails to ma�cr ahese paymenu or the paymer+ts required by Paragraph Z,or fails to perform anY ather mvenants and
<br /> aQteements contetined in chis Security instrument.or there is a le�aal procading that may significantly affect Lender's rights in ;-_- _
<br /> rhe p►se��y�ci�r�j ag�t prneeeding in banlctuptCy.for condemnation or to enforce laws or reguiations),then Lender may do and
<br /> pay�vhatsver is necessuY to protect the value of the Property and Lendtr's rights in thr Property,includ�ng payment ot'taxes,
<br /> haurd icr�urance and olher items meaeconM in Paragraph 2. ,
<br /> Any amounts disbursed by lender ander this Patagrapts sha11 become an additional debt of Borrower and be secured by this ,
<br /> Socurity Insttument. Ytese amounts shall bear interat fro„� thc date af disbnrsement, at the Note rate.and at thr opt'son of
<br /> I.enda.shall be immediateiy due and payable. ,�t�
<br /> � 7.Co�dt�uUo�.The proceeds ot any award or cluim for damages,direct or consequential, in connection with any condem•
<br /> nation or other takirtg of any part of the Property.o:for conveyance in place of condemnasion.are hereby assigned and shall be
<br /> paid to Lender to the exlent of the full amount of the indebtedness that rcmains unpa;d under the Note and this Sccurity{nstru- d
<br /> ment.Lentlet shall apply such proceeds to the reduction of the indebtedness under tAe Note and this 5ecur�ty Instrumem,first co r"
<br /> any cieiinquent amvunis applied in iiif vrScr protiided ir�[''atagta�h 3.wnd:h::t ;:?pr:�3ymet±! of p.*�nc�ryal. Any�a�nl�c�tin�nf �(
<br /> tha proceeds to the principal shall not extend or post�one the due datc of rhe monthly pay-ment�, µhrch arc rcferred to :n ��
<br /> Yaragreph 2,or change Ihe amour�t of such vayments. Any ercess pro:erds otier an amciunt requued t��pay afl outstxnd�ng:n- , �
<br /> 1eUtrdnes,uuder �tte Note and itiis Scconzy Ina.sumens shal; hc ,a�d to the cr.:s;y lcgatly en:::lyd the�ett�
<br /> A. E?e�. I ender may cu:lect feec and rhargrc authonred hy the tie.retan
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