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<br /> • t. ��r�l ot r�ciMl�i�te�1 u�w1e C��e�e,gonaw�r sh�lt p�y whcn due the principal oF. and intcrest on,Ihc debt
<br /> evldenced by the Note and late thar�es dus undrr the Note.
<br /> _•��b�UaNls�f T.�..i t±....�.,��;�;����Trawer shaii inciude in et�ch monthly payment.ta�rther with
<br /> [� the W'inclMi�nd interek u ut fptth tn Ihe Note and iu►y!ue charRes.an installment of utiy(a)�s and spec�a!�sse�srt�ents
<br /> f� - �'���a be le�'i�d y�u tl�t Praptrty� (b)k�ueiwld p��rnts or�rouad ren�s on thc Propeny, and(c) premiums for
<br /> inwrance ra�uirc�t i+y Pan�ph{.
<br /> Eaeh mcmthl�r is�:taltmsnE fcx Itet�(s).(b)uW f c)ihW equal oae-tMelfth af the snnual unounts,as reasonably estimated by
<br /> Lender�plw an�rtaunt suttick�t to mainain�n additietl�,!pal�nce of�ot more eh�n ane•sixth of the atimated unounts.The
<br /> tWq am�sl�utw�tnt tor ae�item sh�li be accumul�ted by Ltnder withln a period endin� one month before an item waulA
<br /> � �e�s+e delinquent.Le�des s!u!!hold th:amauats ca1kL-tei in tinsi to pay itcm�la)�(b)and(c)before tAey become deltnquent.
<br /> !f st any Wae the total of the paymenes heid by Leadtr for item�(a)�(b).dnd(c).tosether rvlth ehe future monthly p�yments
<br /> ta�ach itaro p�Yabk to Lender p►ior to the due datq of such item�.eaceed�by more than one.sixth the atimated amount of
<br /> p��U tepulred to pay such items when dut.u�d if payments on the Note are current�thm Lender shaU either refund thc
<br /> E ���o�at�h�e�atimated paymrnc�or crcdit the exceu over one-aixth of the estimated p�yments to aubseQuent
<br /> jasu(ficieut to �n of Borrawer. !f the totd of the payments m�de by Borrower for Item(a)�(D),or(c)is
<br /> p�y the item when due�then Borroner shall pay to Lende�any�unount necess�ry to make up tAe def3cicncy an or
<br /> . befoce the date tho item be�ottKS due.
<br /> As wed in this Security Iostrument, "Secretary" means the Secre[uy of Housin� and Urbu� lkvelopment or his or her
<br /> i �•M�st Securiry ltutrumrnti insurGd by the Secretaty ue Insured under prosruns which rcquire advanco payment of the
<br /> entIre nwrtja�e insurance premium,ll this Security lnstrument is or wa�insured under a program wh9ch did not require advance
<br /> Wya�ent of the entire mort�e insurance premium,then each monthly payment shAll also lnclude either:(i)su�instaliment of the
<br /> ��1 mortiaRe in�raace premium to be pald by Lender to the Secrctuy. or(il)• monthly charge instead of a mortgage
<br /> insurana prcmium if thi�Security lnstrument i�held by the Secretary, Each montAly lnstallment of the mon�sge insurance
<br /> premtum sbW be in an amount sufRcknt ta eceumulate the full annua!ruuort��g�insurance premium with�ender one month
<br /> prior to�he date the tull�nnual mortgqe insurance premium is due to the Secrctary,or if this Security Iaatrument is held by the
<br /> i 5ecrctary�ach monthly chu�e shall be iA an amount equal to one-twelfth of one•half percent of the outstanding prin�;p��
<br /> ' balance due on the Note.
<br /> i
<br /> lf Bonower tenders to Lender the fuU payment of all sums secnred by thls Security Instrument,Borrower'a account shall be
<br /> credited with the balance remaining for all instaliments for items (a), (b) and (c) and Any mortgAge insurance premium
<br /> instaliment that Lender has not become obll�ated to pay to the Secretary,and Lender shall promptly rofund any eacess funds to
<br /> � , Hoaow�er. Imnfediately prior to a foreclosure sale of the Property or its acquisit'son by Lender,Borrower's aecount sh�il be
<br /> credited�vlth any balana remalnina for all instaliments for items(a).(b)and(c).
<br /> 3.A�/rcNlo�of ta�anfs.AU payments under paragaphs ! and 2 shail be applled by Lender u foUows: ,
<br /> F1$�T�to t1x mort�e insuranEe promium eo be paid by l,ender to the Secretary or to the monthly chu�e by the Secretuy �
<br /> initad of tl!e monthly mort�e insurance premium,untess Borrower paid �he entire mortgage insurana premium when this -
<br /> . securixy tnsuument wu si�nod; �
<br /> � �,to any tua.special assessments.leasehold a !`
<br /> p yments or ground rents.and fire,ftood and other harard insurance j
<br /> ` pradiunu,a�reQu�'od: -
<br /> I�$p.to interest due uader che Nato: _ - - -
<br /> ; FOUR'fH,to amortization of the principal of the Note;
<br /> ElQ�3,to tste chuaa due under the Note.
<br /> �•Fire.FM�i�M 014r H�saN Iwea�ee,gorrower shall insvre all improvements an the Property.whether now in e�cistence
<br /> ft or aubseq�atdy ereeted,a�ain=t any huuds,casuattia.and conrin�encies�includlna Fire,For which Lender requires insurance. '
<br /> This insusaace sh�l! be mdntained in the amounts and for the
<br /> periods that Lender requires. Borrower shall atso insure ail
<br /> �mAroYementa oe the Propeny.whether now in e�istertce or subsequently trected,agairut loss by floods to the eatent required by
<br /> ' ' tbe Serretary.All lnsurana ahall be carried with companies approved by I.ender.The insurance policies and any renewals shall �
<br /> be held by Lendee and shall Include Ioss payable clauses in favor of.and in a form acceptable to,Lender.
<br /> 1n the event of loss.Sorrowu ahall Qive Lender immediate notice by mai1.Lender may m�ke ptoof of loss if not made prompt-
<br /> ' ly by Borrowtr,F,ach insutana company concerned is hereby authorized and di�ecteci to malce payment for such loss directly to
<br /> � I.ender.instad of to Borro�ver and ta l.rnder jointly.Ap or any put of the insurance proaeds may be apptied by Lender.at its
<br /> option. either(a)to the reductlon of tht indebtedness under the Notc and this Security Instrument, first to any delinquent
<br /> � amo�ms applied in the order in Paragr�ph 3.and then to prepayment of principal.or(b)to the restoration or repiit of the
<br /> � damqod property.Any applicadon of the proceeds to the principal shall not eatend or postpoae the due date of[he monthly ��
<br /> � p�yments which ut referred to in ParagraGft 2,ar change tha amount of such payments.Any eacss it�surance�roceeds aver an
<br /> amount requirod to pay a11 autstandina indebtedness undet the Note and this Securiry Instrument sha:!be paid to the entity legal- �?
<br /> tY entitled thereto.
<br /> � Ia the event of foreclosure of this Security Instrument or other transfer of titte to the Property that eatinguishes the in- �
<br /> ' debtedna�.all ri�ht,titk and interat of Borrower in and to insurance policies in force shall pass to she purchuer.
<br /> � s' p��� M�•���� o� cYe Proyercy+ Lau�ol�s. Borrower shall not commit waste or destroy, damage or
<br /> substantially chanae the Prope»y or alDow the ProDerty to deteriorate.reasonable wear and tear excepted.Lender may inspect
<br /> ' t6e property if the property is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect and
<br /> preserve such vscant or abandaned property.lf thls Security Instrument is on a leasehold,Borrower shai!comply with thc provi-
<br /> sion�of the truc, ff Borrower acquire.s fa Ritk to the Pra�erty,tht teasehold end fee titie shatt nat be mergcd unlcss Lender
<br />� , �tas to the tnerjer in writing.
<br /> i.Cr�r�e�to aorrowa a�d ProtecNoa of Le�des'a hb I�the Pro
<br /> chu a. fina and im � I�Y•�rrowe�shall pay ap governmental or municipa�
<br /> . � positions that are not included in Patagraph 2.B�rrawer shall pay these obligations bn time directly to the
<br /> entiYy which is owed the payment. If faiture to p�y would adversely affect Lender's iniere5t in the Pro�crty,upon Lender's rc-
<br /> quest Borrower shall promptly furnish t.4 Lender receipts evidencing these payments.
<br /> It Borruwer faits ta make these payments or the payments recEuired by Paragraph 2,or fails to perfarm any othtr covenants and
<br /> e=raments contained in this Security Instrunsrnt.ot ehere is a legal proceeding that may significar,c�y afPect Lender's ri�,chts in � �
<br /> the Ptopetty(such as a procreding in bankruptcy.for condemnation or to enforce laws or regulatians),then Lender rnay do and
<br /> pay vs�hatever is necessary to protect the value of Ihr Ptoperty and Lender's rights in the P-v�crty,including paymer.t of taxes,
<br /> huud insurance and other items mcntio�ied in i'aragrapb 2.
<br /> My arnounts disbursed by Itnder under this P�ragraph shall become an additionat debt of Borroµ•cr and be secured by this �
<br /> Security Instrument. These amounts shall bear intrrest from !he date of disbursement,at the NotP rate, and at the opti<�n of
<br /> Lender. shall be immediately due and payable. ��
<br /> ( 7•CoEdeaultioe.The proceeds of any award ot claim for damages,direct or r�osequcnual,in�onnecuon Hith any �undem-
<br /> � nation or other taking of any part of the Propcny,or for conveyancr in place of condemna;ion,are heieby assigned and sfia11 he
<br /> paid to Lendr,r to the extent of the full amount of the indeb!edness that remains un�,ard under the tiote and:hic Serur�ty Instru- (�•
<br /> ment.Lrndet shali appJy such proceeds to the reducUon of the indebtedreess under the Note and ttuc Secunty In,trument,firu to ��O
<br /> eiry dellnquvnt amounts applied in the orcier prati•i�ed,n paragraph 3,and then tc�prepayYnent of pnnc,PaL A»v appf�:l��nn�f ��
<br /> the proceeds to thC p��tlCip3! sl�sl! r.o: txtend or Fn,>i�,�,ne rhe due date of �hc ra�mthly paymentti, �.h�rh arr refcrred tn m '6
<br /> Paragraph 2.or change!he amrunt of curh paym:nr. Any exccss procerds e�tee an ami�ur�t reyuircd tn p,,y .,II ,�„�,i.,ruhnr,n .
<br /> dehtedness under the N�zte�nd thi�5ecunty (r.�trament �hnll bc raid tr the cr�ur. Ie�;�ill� enu�lc�s �hc�cr,�
<br /> A��ees_[ender m,i+, �;�11cct fee..►.nJ iharge��!uthor�ic.1 hy iF:c�r.rr..�r�
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