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<br /> ' . , L�p�t K M�cl/il.LM�e�t a�i I�Clwesa Borm�ner shal)pay wfien due tbe prinapa!of.aad intereston,the debt' `•
<br /> ..� �. evidenced by t1�Note aad tate c6ar�a due ubdet thr Kote: < < :
<br /> � , Z.MNtl�r 1'�resM it 73r�et.Lrr�e�a�d Ot�er t�es.BorroweF sh�U iactude in each moathty payment,cosst6a with . ,
<br /> the P�PV�1 iactaaa is set fc�h in the Notc uid any late char�a.aa instaflment of su�y(a�taxts aad spec�!assatenents
<br /> ; ,�- ksied�,to bG kvkd�t�,�raPee�'.tb}lasdtotd.�sY��or grouad reats aa the Frapertq,.au3�c3�for ,'
<br /> _ � �*��„�,�rcq�ired by ParaQaph 4. ' . , . '
<br /> P.sd�monthty►�tallment far items ta).tl►3 apd(c)abal!eqwl one-t�vdith of the annnal amounts.as reasonabIy estimued by ' , ,
<br /> . I.ead�.P1us+m�mount wffidart to maintatn an additional6aluioe of not more th�n one-svnh af tbc atimated amonnts.'d'he
<br /> ` [uU sunwt�mouct for eac�l it�sbali be aocam�tlated by Lender withiu a paibd aodias ene montb 6d'ore an item wouW • .
<br /> � . beooeoe ddioqueat.Lendvab�II hold ttu amounts cuikcta!in tcust to Wq items(a).(b?�nd(c)before ti�ey 6e�omt deliaqumt. . � �
<br /> .. ,� . If ac aay time t�ewql di thep�ments hdd isy Lmder for items(a),(b).and(�),toB�a aith the futare monthty MY��
<br /> � for sndi hemt p�Yabk to I,eada priar tathe aae data of sucb items,acoeds by invre thur onrsixtb the estinuted amonnt of
<br /> . paymeats reqirirad to pay sucb�tans�ehm due,aiand if payments oa ttie Note are cnrrent.thea Lender sl�aII either refund thc •
<br /> e�ss over oae-si�th of the atimued psyments ar credit the eaass over oae-sixtb of the atimued paymeats to snbsequenc
<br /> qyments by Borro�ra,at the aprion of BoiTOxer.If the total of tlu papments made by Bonower for item(a),(b),or(c)is `
<br /> f� ._`;_ ` � insuffic�eat to pay ilu itaa wrhen duC.tdrn Botrnxer ahaU pay to Leader aay amonnt neces�tq to mahe up ihe deg"iciency aa ar
<br /> 6efae tlse date the item becoma duc. � .
<br /> � ' • As uted in tiiis Sauiity InsWmeni,•'Sec�etary`"means the Secretary of Housing and Uii�aa Development or his or her . . � . �
<br /> � . de�ee.Most 5aautty lnstraments insnrod by the Secretary are insnreA uader pragrams afiicb requiro advaace payment of the
<br /> , . �ntire mortp;e insuranoe premn�m.Lf t6is Sec�irity Instrument is or was auured unda a pragram whic6 did aot require advance� � •
<br /> . , pay�nent of the enti�e mQrtp�e ias.ursi�oe Premium.thea each manthlY PaYmeat shall also include eii6er:(7 m iastalImsm of t6e '
<br /> annnal mortp�e iasuraace pre�:�a bo p�i8 6y Leader t�the Secretasy.or(67 a monthly cbuge instcad of a,mortgage `
<br /> . � �insoranix pranitim if this.Sa�urity 9"nsirument is hetd by the Secretary.Each monthIy instaWnent of the mortgage.ius�sraace
<br /> • pr�niam ahall be ia an amotint sufficieai to aaca�late the fuU annual mortgage insurance prcmium v�ith Lender aae montlf ,
<br /> � ptior to the date the fuD annual mortgage insurau��remium is due to the Secretary,or if this Security Insirument Lc held by the
<br /> "� _�,.. SaaetarY.eacb,rrioatlily charga shall be,tn an a.t�aat equal to onatwdith of one-half Dercmt of the outstaadin8 D��P� � '.
<br /> ..,�-. � .
<br /> baVnce due oa the Note. ,
<br /> �`_�: � If Boirower uadeca to Lender ttse fi�ll payment of�il sums secured By this Savrity Instnimen�Bonowa`s account shall be , �
<br /> •,.�_� creditcd with the balance remaining for all insWUments Por items (a), (b)and (c) and aay mortgage insuranee premium
<br /> inst �t�.,�++�*+t thxt I.endtr has not 6ecome obligated to pay ta the Sectetary�and Leader shaU promptly refund any excess funds to �
<br /> ' ' Borrower.Immediately prior to a fa�rectosure sale of the Property pr its�acquisit:on 6y Lender. Boaower'�accouat shatl be
<br /> ,' cnod�ted�rith�uny b�ce remainia�fa�r all iastallnuats for items(a).(b)and Ic)• �
<br /> ;'
<br /> . . 3.ANYcstio�o!P�Jwe�b.All paymmts under paragraphs 1 and 2 shall be applied by Leader as fa�ows: . � � �
<br /> • . F1RST,to the mortgage iasurance premiwn ta 6e paid by Leader to the Secrctary or to the monthty ct?arge by the Secretary � ' .
<br /> ' jnauad af the moathlq mortgsge insitrance pr�r`.:�:m.uaiess Borrower peid the rntire mortgage insuraaee premium whtn tlus -�
<br /> �, Savrity Inatrument wa9 signed; � ';
<br /> $ECOND,to any taaes,special assessmrnts.ttauhold paymenu or ground renis,and fue,flood and other 6azard insuraace '! . •
<br /> puemiums.�IS roQuired: � . �� �:�
<br /> rs
<br /> THIRQ,to intaat due under ths Note; � ' �
<br /> F UR .to amortizatlon of the princtpal of the Note; � '
<br /> � , , �,to late chazges due under the Note.
<br /> � � 4.Fine,Flood aN ONer Haraed Iwra�ca Borrower shall insure all improvements on the Property,whether now in cAStence ` �
<br /> � or subsequeatly erected*against any h�zards,casuaities,and contiagencies.incl�ding firs,for which Lender requires ir�urance. • ,.�:.�s
<br /> �: This insarance shall be maintataed ia the amounts and for the periods that Lender rup.rires. Borrower shaU also.insurc all ;;��
<br /> ' imDrovemsnis on the Property.whether now in e�sii�euce or subsequentJy erected,against loss 6y floods to the extont required by �
<br /> � the Secretsry.All insurance shall be carried wit�eainpania aDpraved by Lender.The insurance policies aad any renewals shall `��'
<br /> � be hetd by Lenda and shall inciude toss payable ctauses in favor of,and in a form acceptable to,I,enda. � . �
<br /> i In the eveat of Ioss,Borrower sha11 give Lender immediate notice by m�il.Lender may make proof pf loss if not made prompt-
<br /> + ly by Bonowar.Each lnswance a�ae�any conceraed is haeby authoriud and directed to asake payment for such loss directly to
<br /> Lender.instad of to Borrower and tu Lender jointly.AII or any paa of the insurance proceeds may 6e apptied by Lerider,at its ...
<br /> . option.dther(a)to the reduction of the indebtedness under the Note and this Security Instruraent, Cust to any delinqaent
<br /> , � amounW applied in the orQer in Paragraph 3,and then to prepayment of principal,or(b)to the restorazion or repair of the
<br /> ` damagcd Droyerty.Any app]Icatiqn of the proceeds to the principal shall not extend or postpone the due date of the monthty .
<br /> D����h1ch ue refened to ia Paragraph 2.or change the amount o!sush paymsnts.Any excess insurance proceeds over an
<br /> + amount requireA to pay a!1 outatanding indebtedness under the Note and this Security Instrument shall be D�d to the er2ity legal• , '•��
<br /> i fy ent�tled thereto. , � ..
<br /> �
<br /> ± In the event ot forectosure of this Savrtty lascrument or other transfer of tItle to the Propeny�t�at extinguishes the in• �
<br /> debtednes�,all right,title and interest of Borrower in and to insurana policies in force shaU pass to tht purchaser.
<br /> ! S.Pnsenatbs �ud M�tea�oe ai t�e Pro . �
<br /> pertY Leau6oids. Borrower ahall_not.ccmmit_waste_or destroy._damage.�r______.__.____._...
<br /> ', ', substantiaUy chat�e the propertyaSallow the Property to deteriorate,ceasanatile wear acd tesi eaapted.Lender may Inspect
<br /> , the ptoperty if the proptrty ia vacant or abandoned or the loan ts in defanit.Lender may take reasonabte action to protect and
<br /> � . Dreserve such vacant or zbandoned property.U this Security Instrument is on a teasehoid.Sorrower sha11 comply with the pravi-
<br /> sions oF the lease.If Bonower acquires fa titte to the Property,the leaseh,eP�and fa title shall rtot be merged untess Lender
<br /> ' . , sjras to tBe merger ia writing. •
<br /> � ' , i.CM�ea to aorrower ud rmtecNo�ot l,ader•s RijMb i��4e Property.Bonower shall pay atl gnvernmental or municIpal
<br /> chatges.fine�and Impos3tions that are not included in Paragraph 2.Bonower shall pay these obligaciaas on time directly to the
<br /> ; entity which Is owed the paymeat.1f tailart tn pay would adversety affect LendePs i�terest in the Pre�eny,upon Lender's re-
<br /> . quest Bonower shali DromD=1Y gumish to Lender recxipts evidencing these payments. �
<br /> � � ' � lf Borrowtr[ails to make thCSe payments or the paymmts requ'ved by Paragraph 2.or tails to perforro aay other covenants and E
<br /> � - agraments contained in thls Securixy lnsttument�or there is a legal procetding that may significantly affect Lender's rights in %-=-== -
<br /> . the Property(such a9 a proCerding in baniwptcy.for condemaation or to enforte laws or regulations),then Lendu may do and � �
<br /> psy whatever is necessuy to protect the vaJue of the Property and Lendet's rjghts in the Property,including payment of taxes.
<br /> _ : f t�wcd insuraace and other items mentioned in Paragtaph 2. !
<br /> i . My amounts disbursed by Iendet uader thls Paragraph shall become an additional debt of Borrower and be secured by this ' �
<br /> ' Securitq instnrment.'!'ftese amounts shall beat lnterest from the date pf disbursement,at the Note rate,and at the option of ' ' '
<br /> • Lender,shalf be immediately due and payable. � .
<br /> T.Co�de�n�do�.The procetds of at�y award ot ctaim for damages,direct or consequential;ia connection with any condem- �
<br /> � nation or other taking of any part of the Propeny,ar for conveyance in p(ace of rondemaalion,aze hereby assigned and shall be -
<br /> paid to Lender tc�tBe extent o!We tull emount of t�te indebtedness that remains unpaid ander the Note and this Security instru- ' h
<br /> • ment.t,ender shall apply such ptoceeds to the reduct3on of the iadebtednrss under the Note and this Security Instrument.fust to �
<br /> . any deliaqueat amaunts�pgfied in ihe order provided in Paragraqh 3,and then ta prepaymeni of principal.Any applicatioa vt ' - y�
<br /> the proceeds to the priacigal shall not e�tead or postputte the dae date af the monihly paymtnts. which are reterred tb in
<br /> Paragrapb 2.or change the amount of such payments.9�ny access proceeds over an am�unt required to pay al!outstanding in- , � ,,�
<br />: debiedness unQer the Note and ti�is 5ecurity tnstrument shail be paid to the entlty 1ega0y eatitled theretu. .
<br /> � S.�ees.Lender may callect tees nnd charges autharized by the 5ecretary.
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