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<br /> 1.l�ywe�i of��be1M1,I�N�t�l.fq�CMu�c. Borrower aha41 psy whe�due thc principal of,and intcrest an, thc debt
<br /> . evWenced by the Hote and late char�a due under Ihe Note.
<br /> Z.M�iyr 11�weE vi Taur,Lweuis�d Ql�ee Clra�a.Barrower ah W la.-,Iude in each a�atblY payment.together wiih
<br /> � the principel and interat u set[arth in the Nate�nd eay late ch�r�es,om inst�llment of�u►y(a)tues and specul Assessme�ts
<br /> kwied or to Ee kwied yatnet the Property�(b)kuahold p�ytneate or�round renta on the P�operty, und (c)premiutns for
<br /> : iasarana repuired by Pu�raph�.
<br /> B�ch nanthly in�Ument tor item�(�)�(b)and(c)abalt equd aae-twelfth of the aanwl unounts,u�eswn�bly atimated by
<br /> t.ender,plw+u��mount�uMc}ent to mslnt�in an addItbnal balance of not more than one-siath of the e.stimated amounta.The
<br /> in8:s�au:!a:r:asat fus;,:cS:dsesn - -� br a�amnLsrd by Lendes�ithin a Resi�:3 rnd3az anr monih�farc aa iiccs;a;ould
<br /> beoome detiaqtKat.I.ender shall hold the�rnaunts collected ia truu to p�y items(y.(b)and(c)beforc they become detia�qnent.
<br /> lf�t any tlme the total of the payments held by Lender for itemi(a),(b),And(c),totether with the future monthly psyments
<br /> for such item�qyabk to Lender prlor to the due dtte�of auch iteme�excads by more than one-si�cth tha estlmated unount of
<br /> . paymenu required to pny such ite�u when due.�nd if payments on the Note are cunent,then Lender shall eithe�refund the
<br /> eaoa�o�ra�oae•siath of the atLnated paymeau or cralit the exoa�over oae-�ixth of the estimated payments to subsequent
<br /> p�yaxnts by Borrower,�f t�f!O�Op Of BOROMGI,If the toul of the paymeats made by BorroMer for Item(�).(b), or(c)is
<br /> IatutRcient to pay the item�rhm due,thea Horrowcr sl�U pay to Lender�ny unount necessary to makC up the deficiency on or
<br /> before t�e due the item becoma due.
<br /> As wed in thi�Secudty Iastrumaft, "Secretary" means the Secretary of Housin=u�d Urban Development or his or hu
<br /> de�nee.Most Security It�truma�ts insured by the Secretary ue insured under pro�rams v�hich require advance payment of the
<br /> entire mortp�e insuran�oe�emium.If this Security lnstrumeat is or wav inau�ed uader a prosr�un which did ao�rcquire advu�ce
<br /> ' p�yaKat o!the eatIn aiortas�e insur�uea premi�um,then e�ch monthly p�ymeat ahall alw Include either:(q an instWment of the
<br /> anawl mortpye inuuaace pranlum to be paia by I.mder to the Secretary, or(i� �mo�thly chuse instad of a mortp�e
<br /> ieeursna promtuns it'this Secudty Insvument is hetd by the Secretary. Each monthly i�staiiment oi the mortga�s insurence
<br /> p[emium�bsll be in�n unount sufficient to accumu�te the f�J annual mort�e insurana premium with Lender one month
<br /> ptlor to tht date the fuU annua!mort�ase lnsurancs premium is dne to the Secretary,or if thi�Security Instrument is hcid by the
<br /> Secretary,euh monthly chu�e ahall be in ae amount equal to one-twelfth of one-h�lf percent of the outst�adind principal
<br /> bal�na due oa the Note.
<br /> if Borro�rer tenden to Lender the fu11 psyment of all sum�ucnred by this Security lasuument,Borrower'a account sh�ll be
<br /> credhad with tAe b�lanoe rem�inin�for vl €nat�llrttents for items (�), (b) and (c)aad any aeort�e imurance premiucn
<br /> insnllmeot thu Lender ha�not become obliqted to pay to the Secrctary,aad Lender sh�ll prompdy refund any eacess funds to
<br /> BorroMer. Immedistely prior to� foreclosure s�1e of the Property or its aaquisitlon by Lender, Borcower's�ccaunt s1u11 be
<br /> credited with�ny balance rem�inins for aU instWmenta for item�(a). (i+)ind(c). �
<br /> 3.A�/Me�tNs ot M�we�b.Ail p�ymenu under puajraphs 1 and 2 sh�ll be applied by Lender as folbw�: �
<br /> �j,to the mon�aRe insurana premium tQ be pald by Leader to the Secretary or to the moathly chu�e by the Secretary .
<br /> tatte�d ot the monthiy mort�e insurana premium, uNess Borrower paid the entirc mort�e Insurance premium whea this '�
<br /> SeCUrity Instrument w�u aljned; � _-
<br /> �,�o�r ia�..,�o�;u asscssmenu, ieaxrtaici payme�rta or Qroanq rea[s�u�a nre.riaoa ana acner nazara insarufee - ,- . --
<br /> prrmivau.as reQuired;
<br /> Ttjll�Q,to interat due under the Note: �
<br /> �j$,'�,to unatization of the princip�l of the Note;
<br /> �.to late clw�a due under the Rote.
<br /> 1.E�e.1�1�M aM OtM*Ha�aN Iwea�Y.Borrower ahall insure all imp�ovemertts on the Property.whetha now in eaistmce
<br /> or�ub�opuently ereeted.�ainst any haz�rds�caswltk�,and continsencia.includins fire.for which Lender roquira insurince. �
<br /> T�i� iesuratke thall be malntained in the amounq and for the pedods that i.ender requira. Bocrower shaU alw insure all
<br /> improveau�nu on the Propaty.whether now in eaistrna or subsequeatiy erexted,apin:t bss by floods ta the e�tent required by
<br /> the Socretary.AU insunnce shail be curied with oompanies approved by Lender.'fde insurana policies and any renewsls shall
<br /> be heW by Lendtr aad shall include loss payabk cl�usa io f�vor of�and in a form acaptabk to.Lender.
<br /> !e the event of losa,Bortowrer�hall jive LenAer immedIate notice by mail.Lender msy make vroof of los�if not m�de prompt-
<br /> ly by Borrow�er.Each insurance compu�y cancerned is haeby�uthoriud and directed to make pay�nent for such loss dlroctly to
<br /> Lender,instad of to Honower and to Lenda joindy.All or any put of the insuru�ce proceods may be applied by Lender,at its
<br /> option,eitber(a)to the reduction of the indebtedaesa under the Note and this Security Instrumrnt. Pust to any detinquent
<br /> amounl�appliod in the order in Put�raph 3, and then to prcpaymeat of principal. or(b)to che ratoration or rrpzir of the
<br /> �
<br /> proprrty.Any appliation of the proctods to the principal shall na eatend or postpone the due date of the monthly
<br /> paymeats w�hich ue referred to in Pansnph 2.or chan=e the unount of such paymenta.My excess insurana proceeds aver an �
<br /> amount required to pay all outstanding indebtedness under the Note and this Secarity Instrument shaU be paid to the entity legi!• �.
<br /> Iy eatitled thereta �
<br /> In the evtnt of foreclosure of this Sccurity Instrument or other transfer of title eo the Property that eatinguisha the in-
<br /> debtedn¢ss.all ri�ht.titls and interest of Bonower ia aed to insurance policia in force shall pass to the purchuer.
<br /> S. lt�aenatlo� ui M�Mte�uce o� tre Pro�ertf. LeauYoi�. Borrower shtll not commit wute or destray, dunage or
<br /> substantiWy c�e the Propeny or iqow the Propeny to deterionte,reasonable weu znd teu excepted. Lender m�y inspect
<br /> tl�E p�operty if tht property is vacant oz n6sndaaed os th�loaa is in default.I�ender may take reasanabie action to protect and
<br /> �r�rve sue�v�tt ot kGwt�iuf�cri prvpaty.if�his Security instrumtnt is on a ieasGhvld.Borrower shaii compty witA the provi-
<br /> sions af tt�e lase. If Borrower�cqnires fa title to the ProDerty. the leuehold and fee title shall nnt be mer6ed unless Lender
<br /> ajtee�to the merger in writin�.
<br /> f.Ci�r�a to 6orrswet ad!'►otecdo�ot i,eNe�'�R�ts b tre PropeMy.Borrower shall pay all governmental or munitipal
<br /> chutes.fines and impositions th�t ue aot included in Pua�raph 2.Bonower shall pay thrse obligations on time directly to the
<br /> entity which is owtd the payment. li faiture to pay would sdversety�ffrct Lender's interess in tht Property,upon Lender's rc-
<br /> quest Borrower shall promptly furnish to Lender receipts evidenring these psyments.
<br /> If Burrower fails to make these payments or the payments ra�uired by Puagraph 2,or fails to perform any otha covenants end ,—.---_
<br /> asretments contained in this Secutity Instrumeni,or there is a legal proceeding that rc�ay significantly affect Lender's nghu in •
<br /> tht Property(such as a proceedi�g]n bankruptcy,for r�rtdemnation or to enforce law-s or regulations),then Lender may C�o and
<br /> pay whatever is necessary to protect the value of the Propeny and Lender's rights in the P►o�xrty,including payment of taaes,
<br /> hatard insurance and other items mentioned in Paragrapb 2.
<br /> Any amounts disbursed by lender under this t�aregraph shall btcome an add�tional dcbt of Borrowcr and be secured by this
<br /> Secarity Instrumcnt. These an�ounts sh�ll bear ,nterest from the date of disbursement, at the Note rate, and at the optian o! i
<br /> l�.ender,shai!br immediately duc and p�y�ble. �
<br /> LT.Cosde�e�tbs.The proeeeds of any award or claim for damages,direct or c�nsequenuai.�n cannection wuh any cc�ndem-
<br /> nation or other takit�g of nny pait of Ihe Propercy,or fot conveyance►a ptace of condernnation,nr�hereby assigned and shal!be
<br /> pAiQ to[tn�er to thc eatent of the full am�ur�t of the indebtcdness that remafns unpa�d unde�the tiote and this Sd,.uruy IntUu- �
<br /> ment. l.tnder shell apply such proceeds to the te�uction uf t he�ndebtednes�under the Note and[h[S 5ecw�tl�Insuument, t irst t�� ���
<br /> any dc►mqutnt amounta nppl�ed in thc o�der pcvvidcd in paragra��h 3,end�t�cu ta prepayment nf pnn�ipal Any app�:�ai son c�f �.''i'�
<br /> the�roceeds tu the pnncipal chali not eaend c+r po:ipon�e the duc date ��f tf�e month!} p.iy�nen;.. �+h��h are referrc�! t�+ �n
<br /> Paragraph 2,nr change the nnu�unt nl such payrnentt Any e+ece�s proccYd�o�c: an,ir2�nui�r reyu�reJ t,�pa� all��ut�ian�f.nu�u '
<br /> :iebtCdnc�� �;nder �hr Nu�e anJ�hi� Sr.vncy In�trumeni�hall he �aiJ t�� thc esituti lrc�.il�y entule� theretu
<br /> �. Fee�. 1 cn�lcr ni:iy �olle.�t fcc�and .tiargr, authot:re.l hy tL•c �e,��t,ir.
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