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<br /> 1.1'��t�t!'�iMl�f�NnN�w11,�1e�`Me�{e. Hortcswer sh�ll �av when due Ihc�rincl�al ot,ond intere;� �n,tUc det+i
<br /> cvidcnced by�As Nate and iate ch�r�a due undtr tt�e Note.
<br /> 3.Myi�r 11yr�Mb N'iayM*[�rNer W tll�e C'�.Rotro��er eh�ll inctude In eacA monthly payment.tMether with
<br /> li►e p►i�cip�l�nd iM�[at�set tos'th�n the Ndtt�nd�ny t�te el��t�,�►n inaitimtnt df�ey(ai taxes a�d ope�iat�tsics�mtnts
<br /> � iwid or fo be kvird epinst tha Propeny�(b)ieaehoW p�ymenb ar��ound tent�on the P�apeny. and(c) prcmiums far
<br /> imuru�se required bY Pera�raph+!.
<br /> WcA�anoalhlp imtalhneM!or itan�(�).(b)ahd(c)�hsll eaw�i one•twelfth of the annual amounty,u rcason�bly es�imat�i by
<br /> , L�det.p!w ae a�ouat wfficient to matntain an additio�l b�litnce vf nM mare than ons•�iath af the atimated amount�.The
<br /> j ftt!!:,s:.ua!a.:sa�sa! Sar:.^!: i::�tr= :h�]!!��u!*,!!er!d hy!�!�!er With�e�iM!e��ns cu+e maath before�n item would
<br /> � b�oon�s d�ieqwat.Leedet thall hold the anaunts collected io irust t�p�y item���),(b)and(c)betoro they become delinquent.
<br /> i it�t�ny tise the totd of the p�yment�held by l.rnder for item�(U.(b).and(c).toaether�rith the[uture monthly p�ymcnts
<br /> ' tor�uch items p�yabk to Lrndet prior to the due data of such item�.Rxcceds by more than one•sixth tNe atimated amount oP
<br /> � �paya�eau rpulred to pay wch item�whea due,and if psy�aenu on the Note ue current,tlKn Ltnda shaU either rctund the ,
<br /> tfeaM ova oae-�ixth ot Ihe atuwted pqs�ents or credit the eacps over one•sixt!►of the at�mated p�yment�to subxquent
<br /> � p��fnents by Horrow�dr.at the option of Borrc,rrer. It the tota)at the p�ymertts m��e by Borcawer for item(�). (b),or(c)is
<br /> � insutficknt to pRy the item�hen due,then Horrower shall pey ta Lender any�mount necessary to inike up the deficiency on or
<br /> � befoce the date the item becoma due.
<br /> � A�uxd in thia Secudty la�trument. "5ecretuy" means the Saretuy of HausinR aad Urban ikvelopment or hix or her
<br /> da�nee.Most 5ecurity instruments insured by the Secretary are imured u�der proar�m�which requlre advance payment of the
<br /> t entire mort�ye insurance premIum.if this Securi[y lnstrument is or waa iasured under a protram whkh dld not require advance
<br /> pa�t of tbe entlre mort�ye in�uruxY premium.then each monthly payment shall also lnclude either:(i)an inuallment of the
<br /> ' annual mortjye insurance premium to be paid by Lender to the Secretary, o�(ii)�manthly chuse instead af�mort�a�e
<br /> inwrana premiwn if this Secutity Instrummt i� held by the Secreta�. EacA monthly instaUment of the mortsye insutancc
<br /> f premium�11 bt�in�n anwunt autticknt to�ecumulate the fuU annua�monpse insura�oe prcrtefiucm with Londer one month
<br /> priot to the date the full u�aw!mon�ye insurance premium is due to the Secretary,o�if this Security Instrume�is held by the
<br /> ; Secretuy, ach monthly ch�r�e shall be in an�maunt equal to one-twelfth of qnt-t�alf percent of the outstarsdins princit+al
<br /> ba4nca due on the Note.
<br /> • if Bonowcr tendrrt to Lender the full payment of all sums seeured by this Srcurity tnstrument,Borrov►er's accaunt shall be
<br /> � credtted writh th�e btlance remainins for all installmmu for items (a}. (b) and (c) snd any monp�te insur�nce premium
<br /> � imtWmrnt that l.e�der hu not bxome obli�atod to pay to the SecTCta�ry.�nd Lender shall promptly refund snye�cess funds ta
<br /> ' 3 Ba�t�. Lnmediate{y prbr tu� toreclusurt aale of the Propeny or its acquisit�on by l.ender. Borrower's ac�.�ount shall be
<br /> ; ccedi�ed rrith any bat�nce rcmalnins for xll inst�llments t'vr items(al�.fb)and(�).
<br /> � 3.A//�eMtM�ef l�y�b. All p�y-mrnts under paru�traphs 1 and 2 shall be applied by Lender As folfows:
<br /> ` �$$�.to the monpue insur�nce premium to be paid by Lendrr to the Scrretary or to the monthip chute by ehe Sccrctary �
<br /> instad of the monthly mort�a�t Insurance premium.utxkss Borrower paid the entirr mortgage insursnce premium when lhis
<br /> Security laurumeat was sisned: ��
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<br /> _SECQIVI�.to any taun.snsci�l�sessments.leasshold rayments or�round rents.and fire.flood and other haz�rd insurancc . ��=
<br /> � Premiums.as mluired:_ . _
<br /> , �j$Q,to incercst due under the Note: �-
<br /> �$�.to atnortlrttlon of the p�incipa!of the Note; �-�
<br /> �.to bte chu�es due under the Noce. ,-
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<br /> 1.Fire.FMo�aN 0t4�H�raN Iw�ee.Bonower sh�ll insure all improvements on th�Propeny,whether now in existence
<br /> or:ubsequentfy erected.asainst any haurd�,usualties.and contin�encies.inciud[ng fire,tor which Lender requires insurance.
<br /> Thb insuance�hall be maietalned in �he amou�t�and for the ptriods that l.eoder requlra. Bonowtr shall also insure all
<br /> imDroveexnts on the�roperty.�hether now in existence or subsequently uected.aaaiest los�by floods to the e�tent required by
<br /> the Secrctary.AU insurance shall be carded with companih approved by I.,ender.The inaurance policies and any renewals shall
<br /> ' be hdd by I.ender and sh�ll�nclude lou pay�bk clause.c in favar of. and in a farm accept�ble to, Lender.
<br /> , !a the evrnt of lou.8onawer shall pve Lender irnmedia�e notice by mail.l..ender may make proof of toss if not made prompt-
<br /> ly by Borrower.Each insunnce mmpany concerned is hereby authorized and directed to make payment for such los.9 directty to
<br /> Lender,lnstead of to Bonower aad eo i.ender jointly.Aq or any put of the insurance proceeds may be applied by Lender.at its
<br /> • option, titber(a)to the reductlon of the indebtedness under the Note and this Security Instrument. fim to aay delinquent
<br /> utio�na applied in the order in Pu�raph 3. and then to prepayment of principal.or(b)to�hr ratoratioro er �epair of the
<br /> . d�ma�ed property.Any applicatlon of the prcueeds to che princip�l sh�l!not eatend or postpone the duo date ot the monthly
<br /> payments whicb ue referted to in Puaa,raph 2,or chaage the amount of such payments.Any excess insurance proceeds ovet an �--
<br /> unount rtquired to pay aU outsunding indehcedness uader�he Noteand thls Security Instrument shall be paid to the entity legal- .
<br /> ly endtkd thereto. , �•:::
<br /> • ln the event of forectosare of this Security instrument ar other transfer of title to the Property that extinguishes �he in-
<br /> . de6todnas,all ri�ht. title anci iaterest of Bonanrcr in aad to insuranct po:icies in force shall pass to the purchaser.
<br /> , S. �ce��idoa �M M�iate���cr ot the Proptrq, I.e�eioWs.fYOnowet sh�ll not commit w�ste or destroy. damage or
<br /> suDstantialiy chan�e the Property or allow the Property to deterior�te.reasonabie wear and tear excepted. Lendcr may inspect
<br /> the property if the propeny is v��ant os abandoned or the loan is in def�ult. l,ender may take rpsonab�e Action to protect and •
<br /> preserve such v�tr;:�r abandaned Dropetty.if this Security instnsment is on a tea;ehold.L3onow�et shall compfy with the pravi-
<br /> sions of the Iesse. li 8orrower acquires fee title to the Propeny,the lcasehold and f=e title shali not be merged unlcss Lender
<br /> ' a�rees to the merger in wtiting.
<br /> i.CU�ta�orrora��d Protectlo�of Le�der's RisYb t�t�e ProPerty.Barrower shall pay all governmenta)or muniripal
<br /> char�a,fines and inipositions that are not included in Patagraph 2.Rorrower shall p�y these obtigations on time directly ta the
<br /> entity which is owed the payment. If P�tilure to pay would advers:ly affeci Lender's interest in the Property, upon Lender's rc-
<br /> quat 8orrower shxll promptSy furnish to Lender receipcs evidencing these payments.
<br /> If Eorrower fails to mako these payments or the payments required by Paragrapb 2,or fails to perform any otrcr rovcnants and
<br /> agraments contain�d in this Security Instrument.or there is a Iegal proceedinb that may significantly affeca Lender's rights in ____ _____
<br /> the Property(such as a proceeding in bankruptcy.for condemn�tion vr to enforee laws or regutations),then 1_ender may do and ' - -�
<br /> ' pay whatever is necCSSary to protect the value of the Propeny and Lender's rights in the Yroperty,including paymrnt af Iaxes.
<br /> haucd insuranre and athcr items mentioned in Puagra�h 2.
<br /> A.ny amoants disbursed by lendet undet this Pt�tagraph shall become an additional debt of F3orrower and be secured by Uiis
<br /> S�,curity Instrumtnt. These amour►ts shall bear interest from the date of disbursement, at the Note tatc. and at the u�tion�f '
<br /> Lender.shall bt immediateiy due and payable.
<br /> L 7.Co�desnaUoi.The�roceeds of any award or claim for damagcs,direct or consequential.in connection with any condem 4
<br /> nation ar other taking of any parl of the Property.or for canveyance in place of condemnation,are hereby assigned and�hall be �
<br /> ya;d to Lcnder to the extent of the ful{am�unt of thc indebtcdness that rcmains unpaid under the Notc and thia Sec:urny Imtru- ,�
<br /> mtnt. L.end:r shall upply such proceeds to the reduction of the indebt�dness under the Note and this Secunty Instrument, f�r�t s�� �p„
<br /> ar.y dtlittqestnt amounts ap�lit�is thc ard�r p:otiidec!in ParBgsagh?.ar:!then fo fitep�ym:ns �f princ�pal. .^:ny srRli�:st�ot�c�t �
<br /> the proceeds to the ptincipaf shall no7 cxtend or perstpone �he duc date of the monthiy p�+ymentc, ��hi�h arc refcrreJ cu �n
<br />, Paragraph 2, or change the amount of such payments.Any e+ccetis pr�ueeds e�tier an ami�unt reyuired t<i p.�q aU��uau.uiding�n ' �
<br /> debtedness under thr Note and this Sccunty Inslrument shall br pai.7 t�� the ent�tv IcK�illy cnntle.f :hcrctc� ��
<br /> 8. EetS. Lender may colle.t fee, and chcuEes:+uthonrcd hy the tie�rct.ur
<br /> P�n.r : ��f e
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