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<br /> • � �-�+7�t oI lri�el�P.Lrtere�t aM Lle C��e.BorrowEt stuIl pay whea due the princspat of,aad iaterest on,the debt . �
<br /> evid�Oed bp the Note and late charsa due'unda the Note: -
<br /> 2-K�IM�t�e��t Taoek L�wa+rce r/t)fier Ci�es.Harro�ver shalt incIude in a�cL�muritl�Iy WY�.�8�6er+vith
<br /> t� � ; th�prFaeips!aad latr,r��seE farth ia tAe Note aad amp lur ci�u8es:an mstaIIment of anY(a3 taxa�ad sPec�l assessmems . .
<br /> 1tviRd or W bt kvkd apid�t the Ptopatg.(b)tasehoW D�Ymeats 6r�ound rents on the Pr� �� . � .
<br /> . ins�uanoe reqnirod by Paryrapb 4. P�Y.aud tc)Prtmiums for . . '
<br /> ° . F.acB moqthty in�taiimeat fot items(s).(b)and(c}s�fD c+qu:i one-t�rdith of the aanu�amounts,as rwsonabiy estimated by .
<br /> � I�dQ;P1WS an amom�t�ffri�t to m�intaia an additionN b�Laoc'of not more thm ane-si�cth of chs estim:tsd unounts.The
<br /> � tult am►w!ama�t fa aKb scda shaII be aavmalated bp Leades within s paiod endin�one month 6eforc an it�a�routd . . . - .
<br /> ' . ' . berome deiioqum�lander s6al!Lold the amaunts coltectsd in trnst to Wy items ta),(b)and{c)before they becoi�e de�inqumt, '
<br /> . - . , Ii at anq tit�the whi of t6e plrments hdd by L�ender tor items(y,(b),snd(c).to8ether witb the fature monthlY PaYm�ts
<br /> • for wch items pyabk to I.e�er,prior to the due dates of such stems,acads 6y more than one-si�t6 the estimued amouat of
<br /> • ' , ' payments required to pty sac�items�rTun due.and if paqajents on the Note ure carrent,thm Lendrr shall ehha refand che
<br /> f exass mrar one-s6�th of the estim�t�i PiY�ts or credTt the ezczss over on+e-stath of t8e awmatod papments w su .
<br /> , P�S�►ts byr BorrmPer.at tbt option of Borroiver.ff:be totai af ihe paymeats made by Bonower far itea�ta).(b).or(cj is� � � � �
<br /> , imsafficiaet to pa►y ibe ittm wheu dna,then Boaower ahall pay to Lender any amonat nes,asary to ma�e up the deficim�y on or � �
<br /> ' ' befora the date tkc item becomes due. . . ' � •
<br /> . As t�ed in this SecurFty Iastniment,••Soci�etary"meaas:th+e��,t�etarq of HavsinB aad Urban Devebpment or his ar fier
<br /> � . de�ee.,MaevtSecudt�r Ins�tments insaced bY ti�e Sa�r�tuy�[tie m�red uader programs which requin advaaoe paymmt of the - , .
<br /> � . ' eatjce mortp�is ta�araaoe premium.If tt�is Security 1aa�,„eiau is or Nas liuwed ander a progcam whicb dId not raryire aWvaace � <
<br /> • ! �ta_�ment of the enti�e mortp�e ir�unaoe Premi�.ti�each monUilY PaYme�t�Il atso inciude etther:(i��inst�llaxnt of the . � �
<br /> `��a+!1 moRt�e insuranee pramium to be paid by�.�u�:ei to We Saxetarg,ca-�'n�a raont�I�►charge�atd oP a mnrtg�ge
<br /> , :►,`�surance premium if this Sccurity instnunent is hel�&g the Sccretary.�ACh'�fltitltIy insr���T�.,t of tAt martaage insuraace � � � <
<br /> � : �premiudr sl�ail tie in an amount su�cieat to acrumuia�the fall annual mort8�►$t insuraaoe�i�ium�rlth Lender one month .
<br /> _ pv�Oi w the daLe thc fWt arus�mortgage insurancx prc�ium is due to the Secretuy,or if tt�5ecority Instrument is held by tbe � �
<br /> - SxretarY.acb montWy char`e shail�e in an amaunt equal to onatwelfth of etts-half pricent of the outataadIag priacipal
<br /> . balance due on t6�Nou. . � .
<br /> � I!Borrovrer tenders w Lender t6e full payment of aU sums secured bY tbis Sccurity Iastrument,Borrowu's aaaunt s6all be . �
<br /> creditad wlth the balaace remaljntng far all fnstatlments for Itsms(a), (bj aad (c) and any mortgage insorAnce premium • �
<br /> • in�a�m�nt tbst Leader 1w not beoume obli�tcd to pay to the Secrdary,and Lender shaU promptly retund any excess fna�s to
<br /> � ; Barnwer• Immedtatety prior tp a foreclosure sale of the Pioperty or its acquisition by l,ender, Bonower's'account shal!6e
<br /> i ccsditod w�ith any balance raaaining for a11 instaltmmts Por items(a),(b)and(c�.
<br /> ` ,:�i:.: :.
<br /> � �3.A�tioa oi Pq�.AU psyments under par,aatapl�s 1 arrd 2 shall bc m�Dtied by Lender as fa^,�vs: �
<br /> Fj$�T.to ti�e mort�e insnrance premium to 6e paid by I,ender to the Secretary or to the monthly charge by the Secretary ����' �
<br /> ; inatead of tbe moatt�Iy mortgage insurance premium,unless Borrower pud the entire mortgage insurance prcmium when this �
<br /> • Secudty'lastrumeat waa aigned; ' ; :..,
<br /> , ��,to any taaes�special asseuments,Ieaseho1d payments or grouad rents,ansf fire.tlood and other hazard insurana `;`''-"
<br /> praniwns,as reqtdred; � ,:.• �;
<br /> ,,..,.,Y,.
<br /> T�•��amortiution of the r1�nc�i . .
<br /> �`O T�'� p pal of the Note; ,�,'
<br /> � F�,to lste chargea due uader the Noie. � . -
<br /> � " I.�lre,bjood�I�d Ot�er Iisra�d Iwruce.Bonower shall insure aIl improvements on the Property,whether now In rxistence ..:•.;�
<br /> � or subsequentiy erected.a�ainst anY hazards,casualties.and ctsntingenctes.inclucfsng fire,for wliich Lender rcquires insur�nce. � -,��
<br /> ' Tbi�insu�anoe aha11 be matatatned in the amounts and for the pedods that�der requires. Borrower shall also tasure ail
<br /> • � lmprovmunta on the Property.whether now in existehce or subsequently erated,against loss by floods to the eate�t requirod by
<br /> the Sxrduy.All insurance shW be carrIed wlth companies ayDroved by Leader.The iaswana polic�es and any reaewals shail
<br /> be held by Lender and shail inctude loss paya6k clausp in favor ot.aad in a form acceptabk to.Lender.
<br /> In the event ot loss.Borrower ahall�tve Leader immadiate natice by mail.Lender.may maice proof of loss if not made piomDt-
<br /> �Y bY��wer-Fach Ins�aace company concemed,it�ereby authorized and diro�d to make payment for snch lo.0 directiy to '
<br /> , 1.ender.lnstead ot to Borrowa and to Lender jotntly.Afl or aay part oP the insurance proceeds may be applied by I.euder,at its �'''
<br /> ; o�tlon,etther(s)to the reduction of the indebtcdness under the Note and this Sea�rlty lastrument, fust to any delinquent
<br /> , uaounte appIIed ia the order in Paragraph 3,and then to prepayment of principal,or(b)to the ratoratioa or repair of the
<br /> d�ed DraD�Y•My appUcation of the procced�to the principal ahail noi eatcnd or postpone the due qate of the monthty '��
<br /> j pryments which ue referred to in Paragaph 2,or chaage the amount oP such payinents,Any excess insuru�ce proceeds over an � -'��
<br /> � �tnouat reqtdred to psy all outstanding indebtodness nnder the Note and this Security lnstrument shall be paid to the entity legst!- '
<br /> , ly entitied thereto. .
<br /> � ln the event ot foreclosure of thl�SecuNty Instrument or other transfer of title to the Proyerty that extinguishes the in-
<br />, delnednesf.all right,citte an�lnterat of Borrower in and to insurance policies in force sha11 pass to the purchasa. � �
<br /> ... ................. . ..... �---�---.. ... _. ....._. . .---��-�----..-- - ---- --
<br /> r�etaHo� �M Maife�uce oi tre rro�ent�,Leauyuld�, �Onower strzJ not commit waste or Cestroy,damage or
<br /> slbstaatiWy cbat�e the Property or altow the Property to Aeteriorate.reasona�!e u•ear and tear eaapted.Lender may inspect
<br /> . tt5e yropetiy it the ptoperty ie vacaat os abandoned or the Iwn is in default.Lender may take reasonabte action to prota�and `
<br /> praetve sucts Fac�nt or abaadoned property.If thls 5ecurity Inatrunent is on a leasehold,Borrower skall compiy wlth the�rovi-
<br /> . aions of tba ksse.lt Horrower acquira fee titJe to the Property,the feuehotd urd fa title shall not be merged untess 1.ender
<br /> ajrees to tlic merset ia wridna. . ,
<br /> , i-Clar�es tv toROwet�PwteeHo�ot Le�er'a Ri�lits is tre Property.Borrower shall Day all gavemmental or muatcipal
<br /> , char�es.8nes and tmpositlons that are not tnduded in Para�raph 2.B�rrower shall pay these obiigations on time directly to the�
<br /> enttty wlilch is owed the pay�qtat.It failure to pay waWd adversely affcct Lendet's interest in!he Proputy,upoa Lender's re-
<br /> quest Banower ahall promptiy fumish to Lender recelpts evideacing these paymmts.
<br /> If Borrower lails io make these payments or the paymcnts rtquired by ParagraDh 2,or fails to perform eny.other covenants and '� �
<br /> a�eementa cantaintd in ttris Security lnsuument,or there is a Iegs�ii proceeding that may significantty atfect Lender's rights in '
<br /> . the Proyerty(auch as a proceeding in bantcruptcy.iar conddnnation or to enforce I�ws or regulations).then Lender may do and
<br /> . RaY Nhatevet is r�occ�ury to t�totect the value of the Pm�trty and Ltndes's sightt in thc Pra{srrty.istcittdit�peyinrn�of taacs, - �
<br /> "� h�zard tnsuranct and other items mentiontd in Pruagraph Z. �
<br /> r �
<br />' ' Any amonnts disbarssd by teeder under this Paragiaph shall becomo an additional debt of Bonower and be secured by this �
<br /> 5ecurtty Instcument.7'hae amounts sha11 bear interest from the date of disbwsement.at the Nof.e rate,and at the option of �
<br /> • Lendea.shall be immediatety dnr aad payable.
<br /> ' 7•Ca�ie�iutb�.The proceeds of eny awazd or ctaitn.fbr damages,d'uect ur consequential,in cannsetiao with any condem• � �
<br /> n�tlot�or othcr taking df any part of the Property,or for canveyxnce in pluce 6f condemnation,are hereby assigncd and sh�ll be �
<br /> Wid to l.ender to tho extent of the full Amount of the indebtedncss that retnains un �``
<br /> tamt.Lender slt�a P��der the Nute an�this 5ecurity Instru- •� �
<br /> . pply such proceeds to the reductionof the inde6tedness under the N�trand this 5c�i Instrisrnent.fus[fo .. �!
<br /> mny detuiquent amounts applfed in the ardtr provided in Paragraph 3.and thea tu prepayment of principal.Any apptiration of ��` •�.
<br /> the ptactcds to the principal shall not attcad ot postpone the due date of the mpnthly�ayments, which are referreci tu in F.
<br /> _..
<br /> . Paragraph 2.or chartge the amount of such payments.Any eacess.ptaceeds uver an amount required tv pay a11 c�uutanding in- �� �---
<br /> ��� � - � de6icdness unQer the Note and"ihis 5econiy Jnsuiiment sha116e
<br /> paid to the entity tegally entitled there[t,.
<br /> S.fee�..Lender may collect fees and charges authorized.by ttie Secrecary.
<br /> . . f'age 2 oj 0 . �
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