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<br />it Doettvwa tandam to Lender the a,a payment of all sums second by tide Sect * Instrument, eommer's account shall be C" with
<br />Ms !>dme tie rania't`itng for el insiattltkrttts for items (a). (b) and (c) and any ma8gsga insurance premium instalment that I.enifarr has not
<br />bw,oina obligated to pay to the Secretary, and Lender shall protTPj toitind any exdsas &WA to Borrower. irtmediately prior to a tonldomn
<br />sale of the Piopetty or No aequleition by Lander. Borrower's acoarnl shalt be credited with any balance remainIng for at Instah+ttrtts for hams
<br />(a). (b) and (o).
<br />9. Application of Pwmenta. Al payments under paragraphs 1 and 2 shall be applied by Lender as follows:
<br />FIRST. to the mortgage insurance pretr*m to be paid by lender to the Secretary or to the mouthy charge by the Seorawy Inched of the
<br />monthly mod" insurance pten+hum, unleas Borrower paid the emirs mortgage hatirmce premium when this Security Instrument Was slgnad;
<br />SECOND. to any taxes. special assesiments, leasehold payments or grourtdl ranm and ices, hood mW alt h.—=d pr0+'�'4!''.
<br />as required;
<br />THiRD. to Interest due under the Note;
<br />FOURTH, to amodbratlon of the prin*W of the Note;
<br />FIFTH, to lets chsrgsa due under the Note.
<br />C Fire, Flood and Other Hazard Insurance. Borrower shall insure Y improvements on the Properly( whether now In
<br />existence or subsequently eroded. agslnst any hamcda raaualtles, and contingendos including fire. for which Lender requires insurance. This
<br />Insurance shall be maintained In ilia amounts and for ilia periods that LondoF requires. Borrower shall also insure all Impmenwtts on the
<br />i roporty, whether now in o dstence or subsoquanily rrrtniad, ot�irlst toss t.'f Reeds to lire extent required by the Saaatary. M Irtstx*nee shall
<br />be carried with compatles approved by Lander. The Insurance pokles and arty renewals sh&K be held by Lender and shelf lnel dlo loss
<br />Poky" dauses in favor of, and In a form acceptable to, lender.
<br />In the event of loss. Borrower shall give Lender laww iota notice by mall. Lender may, flak r proof of loss If not made promptly by
<br />Borrower. Each insurance company concerned Is hereby authorized and directed to make paymall for such loss diteddy to Lender, Instead at
<br />to Borrower and to Lender Jointly. M or any pan of the insurance proceeds may be applied by Lender. at Ito option, aither (a) to the
<br />reftcto n of the indebtedness under the Note and this Security inabutternt, list to any delinquent amounts appled in the mdar ht. Paragraph 3,
<br />and 1xim to prepayment of principal, or (b) to the restoration or repavr of the damaged property. Any application of the- proceeds to the
<br />principal shall not extend or postpone the due date of the monthly pa)1nants which are refs ed to in Paragraph 2, or change We amount of
<br />such payments. Any excess Insurance proceeds over an srnount required to pay aA outstanding indebtedness under the Note and this
<br />Security kistrurnent shad be paid to the entity legally entitled thereto.
<br />In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the Indebtedness, all right
<br />title and interest of Bormwer in and to insurance polides In force shall pass to the purchaser.
<br />5. Preservation and Maintenance of the Property, Leasishoids. Borrower shelf not commit waste or destroy.
<br />damepe or substantially change the Poperly or show the Property to deteriorate, reasonable wear and tear excepted. lender may Inspect the
<br />property 8 the property is vacant or abandoned or ft loan Is in default. Lender may take reasonable action to protect and preserve such
<br />vacant or abandoned property. If this Security Instrument is on a lessehold. Borrower shall coney with the provisions of the lease. 11
<br />taotms w acquires fete title to the Pwp", the leasehold and fee title shall not be merged uniess Lender agrees to the merger in writing.
<br />6. Charges to Borrower and Protection of Lender's Rights in that Property. Borrower shall pay a6 governmental
<br />or irr"cipal charges, fines and imposif ins that are not included in Pamgreph 2. Borrower shag tray these obligation on time dfatefy to the
<br />entice which is owed the payment. N failure to pay would adversely affect Lender's interest in the Property. upon Lender's request Borrower
<br />sisal promptly furnish to Lender receipts evidacicxtng vhese payments.
<br />it Borrower tab to make these payments oT She payments required by Paragraph 2, or 11313 to perform any other covenants and
<br />agreemrmis contained in this Security Instrument of there is a lagst proceeding that may significantly affect Lender's rights h the Property
<br />(such as a proceeding in bankruptcy. for condemnalion at 1•s er ame laws or regulations). then Lender may do and pay whatever is
<br />^---- der . •��'•••- ' the x...a..rc.... «...n.,t o! team ham—rd h�W—WK --. --red other
<br />rteoessary to pr6ie� flay Vwl,ib vi tile nvya-nr arid Li+ivc. a .+ytt•a err °:d�...'"!f............y. ',SZ'_s »•.-»
<br />items mentioned in Paragraph 2.
<br />Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be seared by this Seaript
<br />Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate. and at the option of Lender, shall be
<br />Immediately due and payable.
<br />T. Condemnation. The proceeds of any award or claim for damages, dreti or consequential, in connection with any
<br />condemnation or other taking of any part of the ftmerty, or for conveyance in place of conderrnation, are hereby assigned and shal be paid
<br />to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this SemLfdy Instrument Lander shall
<br />appy such proceeds to the reduction of the indebtedness under the Note and this Security instrument. East to any delinquent amounts
<br />applied In the order provided In Paragraph 3, and them to prepayment of principal. Any application of the proceeds to the piarclpal shall not
<br />extend or postpone the due date of the monthly payments. whin,^, are referred to in Paragraph 2. or change the amount W. such payments.
<br />Any sa=ss proceeds over an amount required to pay all outstanding Indebtedness under the Note and this Security instrument shall be paid
<br />to the entity legally entitled thereto.
<br />8. Fees. . Lender may collect fees and charges authorized by the Secretary.
<br />9. Grounds for Ac6eferation of Debt.
<br />(a) Default. Lender may. except as limited by regulations issued by the Secretary in case of payment ddauits, require
<br />invnediate payment in full of all sums secured by this Security instrument it:
<br />(i) Borrower defaults by failing to pay in fug any monthly payment required by this Security instrument prior to or on the due
<br />date of the next monthly payment, or
<br />(ii) Borrower defaulia by fdLng; for a period of thirty days, to perform any other obigabons contained in this
<br />Security Instrument.
<br />(;is),eiie without Ct' dtt App'ra4 ,-�. Lendar. shall, i1 permitted by applicable law and with the prior approval of the
<br />sevnWy, rnquire immediate payment. 16 full of all the sums seared by this Security.
<br />Institrmm�l� ii.
<br />(I) 14L ar part of; iha. Property is sold or otherwise transferred (other than by di Ise at, descent) by the Borrower. and
<br />(ii) Thq.Property Is not occupied by the purchaser or grantee as his or hue- 12dmary' or secondary restdenoa of the
<br />purchaser or. gptniue does so occupy the Property but his or her credit has nal: .been approved in accordance with the
<br />requirum. is of die Secretary.
<br />(c) Nd Ma Ver..t1 circumstances occur that would permit Lender to require immediate' payment "In full, but Lender does not
<br />require such. payment; Lender does not waive its rights with respect to subsequent events.
<br />(d) Regutations of MUD Secretary. In many circumstances regulations isb-tued by the Secretary will limit Lender's rights,
<br />In case of payments defaults, to require immediate payment in full and foreclose If not paid. This Security Instrument does not
<br />authorize acceleration or foreclosure it not permitted by regulations of the Secratagd:
<br />10. ReInstatanient. Borrower has a right to be reinstated It Lender has required Immediate payment in full because of Borrower's
<br />failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are Instituted.
<br />To reinstate the Security instrument; Borrower shag tender in a lump sum all amounts required to bring Borrower's account current including.
<br />to the extent they are obligations o1 Borrower under this Security Instrument, foreclosure costs %and reasonable and alstomary attorney's fees
<br />and expenses property associated with the foreclosure proceeding. Upon reinstatement by. t3orower, this Security Instrument and the
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