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<br /> �� 90-��1073 4 8
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<br /> Euch monthly io�tallmem for itcros lul.(b),and(c)shall equal one-twelfih of the annuol amounts,us reasanahly estimwled =�____
<br /> by l.cndor,�IuF an nmoun�euificient ia mainiain an udditianul balnncc af noi morc �hun one•sixth of the c�iimatcd umountb.
<br /> The full onnual amount for cuch item sholl be ac�umuloted by Lende�with in u pc�lod e�dinQ onc munth bePore an i�em would
<br /> " �'•f� becc�me delfnquem. Lender sh�ll hold tho amaunts collecled io tru�t to pay items lu),lbl�and(c1 before�hey lxrome delinquent.
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<br /> �- `�y"T'��� If a�any timc the�ot�l uf�hc paymrntn c�ld by l.cnder for i�cros(p1.lb),und I�L�oQcther with t{sc Puturc mamhly paymcn�s
<br /> � �''�":�.•.�__:,_ ior s�ich items pAyable to Lender prinr�a the due dates of such itema,excceds by more�han one-sixth the estimated amuun�
<br /> �S'" ' of payments required ta pay iuch itams when due,anJ if puymcntb un�hc Note urc current, then l.ender vhall ci�her refund �-_� _ __ __
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<br /> � . � �he exccss ovcr one•sixth aP the estimuted paymcnts o�crcdit the exccss uvc�one•sixth af the est imuted pnyments�o subseyuent �;
<br /> • . ' .�":`�"�`•"-�`m paymemc by Bo�rowcr�at the option af Bormwer. !f�he total of thc puymcros made by Borrawer for item (u),(b),or(c1 _v
<br /> •'��� � � �"���i•�`��..-'� i� ineuf6cicnt to pay thc item when duc,�hen Borrower shall ay to Lendesr any umount necessory to make up ihc deflciency �
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<br /> �;�_:�a,>: �'' '�•,d..�,. ; on or beforc the date the item becomcs due.
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<br /> ,; . _ .: '- ,, ;;.. �,` As used in this Secu�iiy Instrumem,"Secretary"means the Sccretary af Hausing und Urban Developmen�or his or er
<br /> �"'�-:��-,•�� � � ��'��"��'� � desiQnee.Most Security Instruments insured by the 5ecretary are insure d un der programs w h i c h r e q u i r e udvaace po yment of _
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<br /> �.; ,�.,;.•: �he entirc mangage insurance premium.Ii this Securiry Instrument is or was insured under u progrum which did nat require ----
<br /> `-:`�<;"����� ' ,i ,•. �dvanc�e payment oP the rntire maRgaBe insurance premium,then each monthly paymern shall also include either:(i)an instal�ment -
<br /> '�;.i.'�;�`;'.� , oi'the annual mongage iosurance premium to be paid by l.ender to the Secretary,or(ii)a monthly charge instead o`a mortgage _
<br /> . ? � iasurance premium if this Securitx��st�ument is held by the Secretnry.Each monthty installment oi'the mongage iasura�ce
<br /> :. ' . ' � ' � premium shall be in an amount sufficirnt to accumulate the iulf annual mongage{nsurance premium with Le�der one month
<br /> ` �t `•.° p�ior to the date the full annual mongage insurance premium is due to the Secretary,or if[his 5ecurity Instrument is held ��,
<br /> , �' � �- -�- by the Secretary,each monthly charae shall be in an amount equsl�o one•�weli�h of one-half percene of ehe outstanding principal �=�' "° � yy
<br /> balance due on the Note. _
<br /> � �� , . If 8orrower tenders to l.ender the full payment of all sums secured by this Security Insirumeot,Borrowe�'s account shall __ _ T
<br /> ± ",�• . be credited with the balance remaini�g for all installments for items (a1. (b). and (c) and u�y mortgage insu�Ance premium
<br /> • ' •�: � installment�hat Lender has not become obligated to pay to the Secretary. and Lender shalf p�omptly refu�d any exces�funds ,
<br /> , ;.;•,; ,�.,• � to Borrower. Immediately prior to u foreclosure sale of the Property or its acquisition by Lender, Borrower's acco�nt shall �_.�?_�_' '
<br /> be credired with any balance remaining f'or all o�►ctallments for items(a),(b),and(c). __.___
<br /> �'" �����`� 3.Appllraqon ot PAymenls. All paym�nt• under paragraphs I and 2 shall be upplied by LendeQ as f'ollows: �S
<br /> ,,���'�:; ��� 1'' ' m t o b e a i d b Lender ta ihe Secretary or to the mon[hly charge by the Secretary
<br /> , s;,,..; :.� First.to the mortgage insurnnce pcem�u P Y ,. ""'"
<br /> ���;��"�;�� �� instead of the monthly mortgage insurance premium,unless 9orrower paid the ent ire mongage insurance premium when this � •,,��r.,
<br /> �' .-i;;�,ui'•. *; Security Instrument was signed; �
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<br />. ���'�;,:,',,�,�� Scr.ond,to any taxes,special assessments,ieasehoid paymen��u+ aroun3 rcnts. ans!fire,flooc!ar.�!�?her ha�ard imurance � ���
<br /> '•,;.,�.,;; ,. premiums,as required; ���`�'�'�.�11',
<br /> • :`i';:,.r , '�'hird,to interest due under the Note; �"'����a�"`
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<br /> --�?�'" • Fourih,to amortization of the principal ot�he Note; •
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<br /> _ . .,.•,.�,, �.�t�h, to late charges due under�he Note. �,�r"��!.��4�';s';
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<br /> � . ' �' , � 4.�ire, Flood�nd Other Hazord Insu�ance. Borrower shull insure all improvements on thc Property, �vhether now in -�.��,���...:� ';�;,;;.
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<br /> • �;;�,,f;l;.. .,, existence or subsequently erected,aFainst any halards.casuplties,and contingencies,including fire,for which Lender re uires . �••,..n:u`�.:, ,:
<br /> ;.r;-�;,<i-)s,F<<.. insurance.This insurance shall be rnnintained in ihe nmounts And for ihe periods that Lender requires. Borrower shall also si,s`i:;
<br /> �,.',{�;!�:'� ,'• insure all improvements on the properq•,whe�her no�v in rsistencc or subsequenUy erectcd,ugainst loss by floods to the extent i,-��s�:,:.;:: �
<br /> % f'�'`'i.�;'� required by the Secretacy. AU insuran�e sha10 be carried�vith eompanies approved by Lender.The insurance policies and uny _ . ��-��`�-
<br /> �'•���`�� renewals shall be heir� t�}• Lender and shall include loss �+ayable clauses in favor of, and in a form a.ceptable to. Lender. � •'• �.,9;:�.`
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<br /> �" � � ':;;s.,,;;:��,�;, ' In tfie event of loss,Borrawer shall pive Lender imrnrdia�e noiicr hy�rraa+l.Lcnder may maMd proof e�l'luss if not made _
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<br /> ;...,.,„ prampc!}•by Borrower. Each insurance compan�•mncernecl is�er�by authorited and directe�i to mad�e puymcns f�r such loss 1 ',: r____
<br />. � "."'�`"'!�,�n;4���• directl�a4��.ender.instead of to Borrower and to Lender j��iqul��. All or any part of t{ie msururice proceeds m+A} be applied .; i,;,__ .,
<br /> - �'''i«'' by LendNe,at its option,either(a)to the redu.iion of�he indebtedness under the Note arw this Security lnstrumere[,first to i •;�,�;�� .,r,�'• �`""��
<br /> • • any delinquent amounts applied in tha order in paragraph 3,und thcn to prepayment .�i��r+n�i�+ul, or(b)to the res�oration ! ., ;;.
<br /> or repair of the damaged Property. .an}���+�lication ot'the proceeds to the principal shall noII estcnd or postpone the due date f •.; ;"c.�';
<br /> . ;,:;�,�, oP the monthly payments which are Teferred to in paragraph 2,or change the amoum ol'�uch payments.Any excess insurance � ;�t:�,.
<br /> t�'��'�• raceeds over an umount requirev �o pav all outstanding indebtedness undPr the Nute and this Security Instrument shall be � . ,
<br /> ��:,,,:,�•:.,, p �
<br /> �° x�'s:�����.; • paid to the entity legally entided there�a. �
<br /> .. �i,, . _._.
<br /> � ' In the event of Poreclosure oi�his 5e�urit}•lnstrument or o�her transfcr of'title to the Property that cxtinguishes the � �;,,�„z,.;
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<br /> �• '��,•, ° indebtedness. all rig�t. �iile and interest ot 8arroa•er in and to insura�ice policies in force shull poss to the purchaser. � `::ta,l�,�
<br /> : .�;���,`;.�+�.'-. g,preservation and Mria�eaAU�rr aY Ihe Property,Leascholds. Borrowcr tihall not commit �vaste or dcstroy.dAmagc or ' ;
<br /> i�,?:`��•.�;..��� , substantially change the Propert����r a11.�W the Propert��to deteriorate,rca�onuble ��•car and tenr excepted. Lender may inspect
<br /> ,,.,,;,
<br /> �'�"� '� ' the Propeny if the Property is�acam�nr abandoned or the luun i+ in dcfauh. Lender mu�� tuke reuxonable action to protect i •
<br /> � :�.:���,.
<br /> , nnd preserve such�•ucant ur aband�necE Propert�•. It'this 5ecurit�� In�irumem i.un u Iensehold, Horro��•er shall cumply��•ith ;
<br /> . the provisions of the Icase. If Horr�we:acquirc�tee title tu thc Propcny,thr tcaschold und fcc tiUe shnll not be merged unless i ,
<br /> Lendcr agrecs�o thc mcrgcr in N�azir,�. I
<br /> 6.CharySes lo Borrower und Proteclion ot Lender'x Rigbls in Ihc Pmperl}�.I�urro��•cr�hall pay all go�•crnmcn�al or mu�icipal I
<br /> ' charges, fines und impositions that are nrn induded in puruµraph 2.If�,rr����cr�hall pay ihr�c uNliga�iun�on time direcU}•�u ,
<br /> �he en�iry whirh is rnred thr puyment.II'1'ailure to�ay��oulJ ad«r.rl>•al'Icct l.cndcr'�intcrest in thc 1'raperty.upon Lendcr's �
<br /> • request [iorrower+hnll pramptly furni.h tu I rnJrr r��ripi�c��idencin��hc.e paymrnt+. ,
<br /> IP LLIRAWP�1'ail.t�i mnke�h�wc navmcnt,or the ra�mrni.rcyuind h±purugraph�.U�I:til+tu perl'orm any uthcr�o�rnants
<br /> _�.
<br /> - -- -- an�i agr��cmen�+contaiu��J in thi+tircuri�>•In,trumen�,rr Ili�rr�•.�Iegal�ttocrCdin�Ihat ma> .i�:niiicami>•aii�ti� i.���uo+'•������;
<br /> in thr Properq•l+uch a�u pnkeeding in heuikrupt.�•. fu��undrmn:��ian ar tu enfurcr lau. ur rrguluti��n.►.th�n l rndrr ma>�
<br /> du:�nd pay whate�cr i�nrcc+ti�ry tu protc�t tl�r c:�lur ol Ihr F'n►�xrt�•and Lcndcr'.riEh��in thc 1'ro�xrt},inrludin�c paymcnt
<br /> � � � uf ts�xe+. hrr�rd insuranre and uthcr item.menuonrd in para�tra�h 2.
<br /> � � Any amoum��li+burud Np Lrndrr undrr �hiti para�raph,hull Ix�.:umr an addiliuoal del�t ��i Ilurru�crr anJ Nc.ccurcd
<br /> b�•tl►i+Securit�� Instrumcnt. Thesr amoums ,hall brar inlrrr,t 1'rom�im datc at Ji+hunc�nrnt. a� �hr Notr�atr. and at thc
<br /> op�ion ot� l.rndcr. .hnll hc immcdia�cl>•Juc and pa>•ublr.
<br /> 1. Coodemwlioo. The pratceds ot�any a��•atd ar rlaim I'��r Jamu�ey. dur�� ur run�r8u�mwl. m �.�nae.:con arth anc
<br /> .onc�emnatic�n or other ta{cm�e aC any part u(Ihe Property,��r fi�r cum cyancr in plu.e.+(�vndernna�n�R_are�:<ccl��a•vgnrJ
<br /> arui.h�10 be pa�d to l.end�r tu tPcz�rtent of thr 1'ull am�•unt ul thr ind�btednc•s that��^ns�m unpa�c3 an�3er tCr�'�.r��and ihi.
<br /> Securie} In;uumznt. lertder�haiC apply +a:h pro�e�•d+lo the redu�lion ul'th�inJeMc�ti,1.n���undcr th�'�a��ce�l ci�ris Srcurit� .
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<br /> Insttumem.Pirst to am�d�l�nc{uertt amnuc�t�a�rlicd in Ihr nrdcr pn►�idcd in para�!ra�h 3_and nc�n tc�p�e�+ayntcm i�l prm�ipal.
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