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<br /> . �_ ,, � . � , � ' . � , � ^ . 94—'1a33+6� � .
<br /> . � � � 1.R�l��t�t1�'1N1,�1eeeN�t Lat�c CMe�a BorraMa ahat!pay when dne the prin�ipal of�and intaest on.the�dcbt �
<br /> . .. , evidtnad bY the Nate aAd 4u thu�es due undet the Note. , ; _
<br /> . t 11f�MM.!�'�4�M�ot Tm�.Ire�ri OtMer Ci�es.Barrower sball jadude in ea+ch monthlY PaS�ment.to�rr writh � �
<br /> t6e ntineip�I�nd intaest a�set furth ia tl�e Noie�nd auy i�te char�.sa iast n+�t of aay,(a)tues and apsciat�ats
<br /> an
<br /> �, kyied�ta bt l�+r�ed apiast t�Pss�patg.@)la�hol�psys�crtts ur gra�d rmfs on the Froperty.aaa�c)r�miczms for .. �
<br /> . �a�oe ts9uir�d bi►Par+�raph 4. � _
<br /> .. .. � , Ea�h moa�ty instdloeot for items(a).{D)and(c)sh�II equai one-hveiRb of the annual amounts,as rtasoaa�blp esiimated b� ` �
<br /> , L�ade�,Pias aa amouat w�d�t to mdatain aa addidonal b�laance�f not more than onasixth of the atmnated amounts.The
<br /> -- ' . loit ao�aal�moaat�or ack item fLaU be aavmWued bq'Lender srithin a paiod endiIIg one moAth before an.ium wauld
<br /> • 6eooai�e de5aqueat.Leadrr�alt hold the amonnts colkcte�in�trust to psy items Ia).(b)and(�)befare tbey become deliaqua�� ' . .
<br /> .. � If�t a�q time tke tba}of tbe paytneats hdd by LRnda far items(a?.(ts).and(c�,toget6er wft8 the#�re moathty$ayments, .
<br /> . , . for wca�Dayable w Leader p�ar to the due datrs of siuh items.exaeds bY man tt�an one-siocth the atimuod aawunt ot '
<br /> : .
<br /> W►Ya�ts tequired ta pty auch items vvhea due,�ad if FaYmeats on the Note ue currenb thea L.tiWer shall either refund the . ,
<br /> ' � e�ars ova ane-aQth of the esKadated.Wymenta or cred3t ttk acass over one-sixth of the estimatrd paymmts to sabseqnen« `
<br /> . '-�::' P�7�s bY Borrower.u thb optioa fli Borrow�er.I�the Wtat of We piY�ata made bg Bonow!�r fo:-':t�fa;,(b�ar(r�� . _.�__ ;:.__:_ - -
<br /> == .-�� • -�t£.�ga�'s�e tiem xhe,t due,tben Borro�at�i pay fo Lender Any aaiount necesury to maEe ug the detichneq on ar
<br /> . ; betore the date tiie itan baomp due. . , ' .
<br /> ; �' As�ed frn tfis Secqrlty Iaanvmtnt,••Sa;retary'• mans the,Socreptry of Housin8:�nd Urban Development or List or her �
<br /> , dt,sipieG Ma�st Securiiy Insunmtats insured by ihe Secretary are insnred under psagams whIch require advanse pa,�of the . ,
<br /> .. e�tire mortp�e inivnaa ptem�irum.If thLs Secarit7r tnstrumeut is or was insvred under a whicf�ri��t � . . .
<br /> prem' ;e�ui,C�3varzce
<br /> � � ' ':'PU��of t6eentfre noa�G.g�e ibsuraacrpremium,then each montLly PsYment shalt also inr e8jude eitl�r`��,3iaaa3tmem of the ' " � "�
<br /> ' j ;`:#anwd aa�t�e in��Premium ta be paid by I.ender to the Snxetary�-��y a monthlY chu��ead of a aiortg�ge � � �::;r".:'::::;;:ii;;
<br /> e a ar� .
<br /> 1., �nrance Preminm if'tf��$dcorltY I4strument ts hetd bY ehe Secretary.Eacti�opWIy ia�aQ.�eat of tfie mortgage insarance •::;::'',:t',:; ;•.,�,�-�
<br /> gnemium with Lcnder aae��onth. t.:;..,-_
<br /> {: • �' praNum ahall be in aa a�onnt suf�i�iaat to accumulate thr full aanual mortg�ge insurane� . .,.,,.::•.. : .
<br /> ,. �,
<br /> :':;;: � Drior to the date ths fnll anaual m�insurana premium is dae ta the , _".S�curitY Instrument�S teY;F:�g ttte . _::`:�,.;.;;:.. ,
<br /> . . Secretaty,or if t�*c,
<br /> .. .;.�.,:i.:;:. �.::: :. . . :. .... :. .. .
<br /> . �, �... � �Secretary.euh montbJY ci►ar8c sba3�"�Fie ia an amaunt equal to onatwdit�a`�f;ase-half perant of t6e ouutattding�Siincipal
<br /> � '. b�lance due on tha Note. , ,.
<br /> ;, ` . :� If Horrowet tenders tfl�,ender the�ful!payment'bf alI sums seeured by this Sbcurity Ias�.�sat.Borrower's acc<s:;rit,s�al1 be ��
<br /> � .� , '.�redtud �icEz.tha ba3anae remainiag for all installments for itsasis (aj, tb)aad (c) am���tssortgagt insura�..t-�a�mium
<br /> :..`r.'=,:���� , .:n�r�nme�+r d�f Lender h�s uot 6ec�zs�G�bligated to pay to the Secretary,and Lendsr shaTI p:ampcly refu��amy ezcess�nds to . . .
<br /> " 1 � �:'' Horrower.3mat�diately prior tp a fo�3osure sair nf the Property as its acquisidon by Lender, Borrowa's acconnt shail be
<br /> � ; '�'`�CCedlted�vTiW any balance remaiaing for all installmeata for items(a).(b)and(c). '
<br /> 3.A�tba ot ta�sats.A11 payments under paragraPhs I and 2 shaU 6e applied by Lender as foUaws: ` •`
<br /> ; �,�°�,to the mort�ge insurance premiwn to be paid by Lendcr to the Secrctary or to che motfthly chuge by the S�cretary ' '�
<br /> . . instad of the monthly mortssge�ce premium, unitss Borrower p�td the entire mortgage insarance premium when this ''' � =
<br /> � Security It�trument was slgned. . �•- ..
<br /> $ECAND.to any taxes.sp�ciai axcessmenu.le�ehold paymeats or ground rents�and fire,ttood and other hazard iruurance ,.,..
<br /> premiwms.as requ'ued; ' �.:.,,�°
<br /> �j$Q.to interest due under tde Note;, � < '`—
<br /> P.QuRTH, to amortitstion of the princtp�tl qf the Note; �
<br /> ' FJFJl�[..to late charta due under the Nate. � --
<br /> � 4.Flre�i7ood sN Otrer Haan/Iwesc�,Bpnower ahall insure alI improvements on the Property�whether now in esistrnce
<br /> � ' , or subsequently erected.a�inat at►y hazards,casualties,and contingencies,Including�re,for which Lender rqtuires insurartce. ;
<br /> . Tl�ig Insurance ahall be maintainad in the amounts and for the pedod�that Lender requires. Bonower ahall aiso insure all � ��
<br /> : lmprovemeats on the Pro�erty.whethtr aow in existence or subsequently erected,against toss by floods to the extent required by � •
<br /> ' ' � i tde Sectetuy.AU insurance shall be curied with companies apqroved by Lender.'I'he insurance policics and any renewals shall �-
<br /> • 6e held by Lender aad shall include loss payabk clauses in favor of,and in a form acceptabte to. Lender.
<br /> � In the event ot toss,Borrower ahall�ive Y.ender immediate notice by mtil.Lender may malce proof of loss if not made prompt-
<br /> - � ly by Borrouver.Each insurance company concerned is hereby authoriud arid directed to make payment for such loss dlrectly to
<br /> • I.ea4er,inatead ol to Horrower and to Zeader jointly.Al!or aay part af the insurana procee�s a�ay be apptied by Lendeir.at its •
<br /> � optian, either(�)to the reduction of the indebtedness under the Note aud this Security Inst�ument�first to any de?;nquant
<br /> � amounts applied In the order in P�aph 3,and then to prepayment of principal�or(b}to the ratorauon or repair of the
<br /> �amued property.My applicatIon of the proceeds to the princiDal shall not extend or postpone the dus date of the monthly
<br /> y �aymeMa which are referred to in Paragraph 2,or change the amount of snch payments.Any excess insurance proceeds over an ;�
<br /> ; ataount required to pay aU ouutanding indebtedness uada the Note and this Security Instru�ecnt shall be paid to the entity tegal- � �':
<br /> } ly entiBa!therao. , � ,
<br /> � ta the event of foreclosure ot this Secnrity Instrument or other transfer of titte to the Property that extingutshes the in- �
<br /> debtedness,all risht,title and interest of Borrower in and to Insurance policies in�force shall pass to the purchaser. �.
<br /> . � ,
<br /> _ S. l�raenatto��N Mai�te�a�ce of tie Pro'ertf, Leae�oWs. 8orrowtr shall not commlt waste or Qestroy, damage or... .. ._.._._ ._.._. . •
<br /> .j ' substantinUy ch�wte the Proyerty or allow the Property to detedorate,�easonable wear and tear excepted.Lender may inspect
<br /> ; the property if We property 1�v�t or abandoned or We loan is in default.l.ender may take reasonable action to protect end
<br /> i` �raerve auch vacant or abandotted yroperty,if this Sesurity lnstrument is on a teasehoId.Banower shall comply with the provi- '
<br /> sioes ot the lease,1f Borrower acqulres fa tlQe to the Properiy,the leasehotd and Pce title shall not be merged unless Lender �
<br /> � aarea to the merga In writing.
<br /> ii.Clw�ea to tor�ower aN proteeHoi o1 LeNer's RkYV L tl�e Propettr.Bonower shall pay aU governmental or municipal
<br /> ch�Ir=a.flnes and lmposidons thAt are not inctuded ln Paragraph 2.Borrower shall pay thesr obligations on time directly to the
<br /> � entity vvhich is owed the psymeat.lf failwe to pay would adversely affect I.ender•s interest in the Property,upon Lender's re-
<br /> quest$ortower shat!promptfy fnmish to Lendtr raaeipts tvidencing these payments.
<br /> I!BorraMer lails�o matce these paymenta or the pa-;�eats rcqulred by Patagrapb 2,or faits to perPorm aaiy other covenants end
<br /> A�eements contained in this Secudty lnstnunent,or there is a legal proceeding that may s;3,�.�6qntly affsct Lender's ri,ghts in . �_=-_— _
<br /> the Propere�gsuch�.t a proaeding in baaicruptcy;for condemnattoa or to enforce laws or regulatlons)�then Lender�uay do and j
<br /> psy whatevsr is nxessary to protect the value of the Property and LendePs rights in the Property,including Dayment a9 tazes,
<br /> ? . .bazud imuruue�nd other items mentiun�!in P�3raph 2.. - . I
<br /> ' A�y amounts disburs�!by lender under this P•.��,graph shall become an a�i:'sonal debt of Bonovrer and be secured by this �
<br /> ! Securlty Instrumeat.TbCSe amounts shaU bear in,�rest from the date of dLsbursemenr,a-��:Nate�rate,and at the opt3on of ' '
<br /> f Lender,shaTk be imm�iateJrdue and payable. '' .
<br /> � ' '1•CoNe�atiN.Tt;e proceed�of any award or etaim for dameges,direct or consequentlal,in connection with any condem �
<br /> natia�or other trScin�aYaay part of the P'roperty,or for eonveyance�n place bf candemnation,are hereby asslgned and shall be
<br /> � . pald to Lender tn cl:e extmt of the fWl azaount of thc.iadebtedness that remains unpaid under the Note and this 5ecurity lnstnr-
<br /> . ment.l.ender sh�ll Spply 6uch proaeds ta tke reduction ot the iadebtedness uader the Noie and this 5ecurity tastrument.t'Irst to � �`'
<br /> , , any 8elinquent amwnts appUed ia'tbe or8er ptov�ded�n Yatagraph 3,acid thea to yrepaymet�t at principa�t;Any application of ' ' �
<br /> � the prosads co the princlpal shat}not eatend ot postpoae the due date af the mantlily payments,which are referred to in •;
<br /> .Paragra�h�,or ct�angr tha amauni of such Qayments.Any excess proeeeds over an amoent�equired to pay all ontstanding in• �, '
<br /> � _debtedaess undet the Note aad this Secudty.Insuument shatl 6e paid to the entity Iegally endtted.thereta. . :. ..- `� ..
<br /> , S.Ftes.Lender may wllect fees nnd ehazges authorized by,the Secret�ry.
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