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<br /> . l:d 1,�q�nt oi PrMciM1.1�1aw ud I�t�CYwRe.Borrower sh�U pAy whcn due tha p�incipal of.and ieterat on.the debt --
<br /> , . eWdenad by�he Nae and lue char4a due under�he Nae.
<br /> ' - • � � " _,Moslrlp p�rr�np ot T�a.I�w�w�ce iud 01�er Chu�a•Borcower shwll include in each monthly p�ymenl,to4ether w{th �_
<br /> ; "�,�Y.. �� the principal and inte�at�s set forth in the Note�nd any lata chuQes,an ins��llment oi any(a) t�ces nnd special assessmrnts �
<br /> ,. l e v k d or to b e l e v i e d�t i n s t t h e P ro p n t y.(b)l e a�e h v ld p a y menu or�ound renu on tho Propeny.and(c)premiums for �;��..-
<br /> � � :.`' c�'. .� . ia�urance roquirod by Parayraph 4. '" -"���.M=..-:. ,.
<br /> 8ach mopthly in�Wimeat for items(a),(b)and(c)ahdl equal one•twdGh ai the annual xmounta,s�a«asonably esdmated by �� � '�
<br /> ( � l.ender.plu:an amount�uftidmt to maint�in an addiQon�l b�ace of not more thRn one-sixth of�he atimated amounte.The .. 1;,�,�:..r._,.�
<br /> ; full annwl amount for each ilem ahpll be accumulated by Lender within A period endfng one month before an item would �,;:'4r�ua��s�
<br /> t � ' bxome deUnqcaat.Lender shall hold the pmounu coUected in t�ut to paY iteme(ay.lb)and(c)betore they 4►ecome delinquent. °�:"'a�';'',-'?�'�'���'
<br />� � If at any�ime the total of t�e paymenu held by Lender tor itema(a).(b),and(c),toytether with the future monthly payments ,
<br /> � for auch iteau parible to Leadec prior to the due dates o�Q s►och items.excads by more a:hs�n one-sixth the estimated�rnount of �•
<br /> ' paycqents�uired to p�Y sucd itrms when due.u►d if pa�ra�mu oa the Note aue cu�aent, t!`en Lrnder sha11 either rclLnd ehe k �:.;�- : ;
<br /> excess oYer oae-suth of the estimated payaienu or cre�lut eBie excess over one-sueth e�f:he�rs::�aated paYments to subaequent
<br /> ' pa�ments bX Borrower.u the optioa oP�*ttaw�v. 1�Ihe vatal of the p�yments made!�}8ottawer 6or item la?.(b?,or(cl�g �r ' .��-a;;r.. ...:
<br /> iasuf�ickat to pay the itan when due,then Bwrower sA�uld�+aT to Leader anY amouat necesswy to mate up the de�iceemcp a►or • ,.. ,
<br /> ,. _ befae t!rc date tAe item becames due. : .'
<br /> - • ' ,#s u�ed in this Security lnstrument,"Secrctary" mcsins e�e SecrrtarY ot Housing and Urban Devebpmene or his an c�r .,,,,,4,�.,�{,,,.,
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<br /> � daiQaee.Must SecuritY Inatrumenu insured by the Secretary ue Insured under ro�ams which r ite advance yment of the �`.��.� : " �'•�'�:'•:".•-
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<br /> ' � radre mortgaBe insurance prcmium.If this Security Innrument is or waa insured uader a pro4ram whieh did not requlre advance , r=�.
<br /> ��:•.�.� ;:�,r;,•.• , p�yment of the enthe mortQage fnsurance prcmium,then eachmonthly payment aheU also fnclude eliher:(i)an fn:taliment af the „„ ,:,��
<br /> . , , �,,t.:•, . „ ' „ aanurl mon�e ia:urance pmnium to bo paid by Lender to the Secretary,or(Q)a monthly cha�ge instead of a monpage .
<br /> , �,� . ;murnnce pre►aium if thft Security Insaument i�held by the Secrctary.Each monthly inatWlment of the mongage insurance :.�r •:��,�'�-•:
<br /> ;�.;� • prcmium shall be in an anount sufflcient to accumulote the fuU annual mortgage insurance prcmlum with Lender one month , _ ,
<br /> ,�.: , � pdor to the date the full Aanual mortgage insurance premium is due to the Secre.tary,or if this Secudty Instrumene i:held by the i --i��—•�
<br /> �` :. Secretary.each monthly charQe ah�ll be in An amount equal to one-twdith of one•half percent ot the out�tandin�principal •y�.�.�ti;,'
<br /> •� bdance due on the Note. � � '�
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<br /> If Borrower tendera to L.ender the full payment of all sums secured by thls Secudty Inatrument,Bor�ower's account shaU be '�!,:.,,�•',.,j
<br /> credited wlth the balaace remwining for all insteUments for items (a),(b)nn d(c) a n d a n y m a r t B a�e I n s u r a n c e p remium � , '
<br /> �� instpUment that Lender has not become obNgated to pay to the Secrctary,and Lender shall promptly refund any excess funds to _ .
<br /> 8onower. Immedivtely prior to a forxlosure sale af the Propeny or its acqu�ition by tander,Borrower'�account ihaU be � " • ,^.�l���
<br /> , cRdltal wfth any balance rem�ining fo�all installments for items(a),(b)and(e). ",�•.�.`.
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<br /> • 3.AppllaiUoa ot P��oeou.All pAyments under parapraphs 1 and 2 shaU bo applied by Lender as followa: , :��
<br /> cs`:;•� � ••' _ !P RST.to the mortBaBe insu�ance premium to be paid by Lender to the Saretery or to the moubly charge by the Secrctary _ •
<br /> . ' �s� .��. imtad of the monthly mortg�ge insurance premlum,unless l3orcower paid�hc entirc murt�aYe fwsurancc prrmium when this �t � ;. _.- .
<br /> ' � Security In:trument waa signed; I
<br /> � `�!�'� . .. ., , �Q,to any tazes.spaial Assessmenti,leasehald paymrna or ground rcnta,and fire,flood and other hazard insurana �,•. ... , : ;,:.
<br /> . , i��..: prwniums.aa requfred: t .� . '-'•��
<br /> , �,(g�,to interat due under the Nate; t , �;;I,;'
<br /> � �' OU T ,to amortlraUon of the principai of the Noto; F:,,•� � .
<br /> %'r'� • • FIFfH,to late charga due under the Nate.
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<br /> ' `°'���• ' . • 4,Flre�Flood uid Ot4er Hmrd losuniaa.BoROwer shall inture all improvements an the Property,whether now in eziatence � �
<br /> ,• • or subsequently erccted,agalnst any harards,caaualtla,and contingencies.including fire,fo�which Lender roquira insurance. �
<br /> " � Thi:insurance shaU be maintained in the amounts and for the periods that Lender requires. Borrower shall eLgo insure all ;
<br /> ' fmprovements on the Property,whether now in wdstence or wbuquently erected,oBalnet bu by floods to the extent requfred by
<br /> .'"?:':.' • • the SecretarY.All Insurance sholl be carried with companles approved by Lender.The inaurance policia and any renew�ls shall '" •
<br /> • � � • be held by Lender and ahall include loss payable clauses in favor of.s+nd in a form acceptable to, Lender. s� �
<br /> . .,S ' . ,
<br /> ���'� ' In the event of loss,Bonower shall give Lender immediate naice by m�fl.Lender may make praof of loss it not made prompt• ! �
<br /> � '�'�� ly by Borrower.8ach insurance company concerned is hereby authorized and directed to make payment for such loss dircetly to
<br /> ' - �;,�:. , '' � •
<br /> I.ender,instead of to Horrower and to Lender jointly.All or any part oP�he insur�nce proceeds rn�y be applied by Lender,at its
<br /> • � �•i� option,either(n)to the reduction oi the indebtedness under the Note snd this Security Instrument,firat to any delinquent ,..
<br /> ' "'`� amounts appiled in the order In Paragraph 3, and then to prepayment of pdncipel,or(b)ta the re�toration or repair of the �� '�.
<br /> ' - damrged property.Any application of the proceods�o the principal ah�ll nat extend or postpone the due date oi the monthly •
<br /> pnyments which are referced to i�Paragraph 2,or chenge the amount of such payments.Any excas inaurana praceeds over an ;:
<br /> �,,; �mount rcquired to pay all outstandin�indebtedness under the Note and this Secudty Instrument�hqll be paid to the entity IeQd• �'' ,
<br /> ' '. ' . :. ,, ,.. ly endUed thereto, • .
<br /> �� , ���i;,.�: In the event of forcelosure of this Security Instrument or other transfer of ti�k to the Property that extingulsha the in• '';;�.
<br /> ' � r •,:� • � debtednas,aU dght,titk And inurest of Borcower in aod to imurunce poGcies ia force shell pass to the purchoser.
<br /> ;;i•, S, p�aenWoo�rd M�tesa�ce ot lhe Propeery�. I.ea�ehold�. Bonower �haU not commit waste or desvoy, damage or �
<br /> � substantially change the Property or allow the Propeny to deteriorate,reasonable wear and tear excepted.Lender may in�pect
<br /> " , •,�'t��, the propeny ff the propeny is vacant or abandoned or the loan is i^ deteuh.Lender mAy take re�sonnble action to protect and
<br /> ' , ,i,,,.. ; preserve such vacant or abandoned pro�eny.If this 5ecurlty 1 mtrument is on a leasehold,Borrower shall comply with the pro�i-
<br /> . '����;., slons uf[he lease.If Borrower acquires fa title to the Ptapeny,the leuehold and fa title shall na be merged unles+Lender
<br /> .•- .� t�rees to the meraer in writin�.
<br /> , •_ti.,� ,
<br /> �' ..;�',�� '', �,,�.,' 6.C6w�ga to Borrower�ad Protection of Leaae�'e 13�g6b In tMe Propeny.Borrowrr shall pay all governmental or municipal , �
<br /> �':'., charga,fines and fmpositions that are not Included in Paragraph 2. Borrnwer shall pay these obligations on time dlrectly to tCe
<br /> � ', , .�'��;� �� entity which is owed the payment.li laiSuve to pay would adversely alfect Lender'y ieterest in the Property,upon Lender's re- � �
<br /> � • � ,> ., quest BorroMer sh�ll prompQy furois�:to Lender receipts evidencing lhesc payrnams. ,
<br /> �'�� If Borrower Pails to rnakr shese paymm�s or the payments requfred by Patagra�fi 2,ns fails ro perform any other covenants and
<br /> ' •+ agreemenu coaained in this Securi�y Instrument,rr thert Is a legal praceding e;:a: rnay signifipntly affat LendePs rights in
<br /> ' � the Propeny(such ax a¢��oceeding in bankrupt.y,i er condemnation or to en(orce�aa�or regulations),�hen Lender may do and
<br /> pay whatever is necessuy to protect the value of tfis Propeny and Lender's rigP�u in the Propeny,including payrrtem of taxes.
<br /> . � , huud�nsurana and other items menuoned in Pat�graph 2.
<br /> My amounts disbursed by lender under this Paragraph sh�ll beroru an additional debt of Borrower and be xcured by this
<br /> Security Instrumen�. These unounts sAall bear intece9t from the date o(disburument,at tlx Note rate,and ai the opnon oi
<br /> Lender,sh�ll be immed'ueely due and payable.
<br /> j 7.Co�demoilb�.TRe praeeds o(any awud vr c{aim for damages,direct or ennsequential, in connection wuh any condem-
<br /> � nation or other toking of a�ty patt a�f the Property,or for conveyaner in plue of condemnation.ue he�eby�usigned and shal!be
<br /> paid to Lender to�he extent of tfte fua amount of the indebtednas that rcmtins unpaid under t he Note and this Securi�y Instn�-
<br /> ment.Lender shall apply such proeeeds to the reduction of�he indebtednesc under the Note and this Setunty Instrument,Crst�o
<br /> any delinquent amounls applled in the order peovided in Puagraph 3.atK2�hee ro prepayment o(principal.Any applicauon of
<br /> the proceeds to Ihe princfpal sh�ll not eatend or postpone the d�e due of rhe monthly payments,which are referred to in
<br /> Paraaraph 2,or change the tunount of such paymenls. Any excas ntotads over an amount reqnired lo pay all uutctanding in-
<br /> deb�ednes�under the Note and this Secunty In:trument shall be po,d ru the ennty legally entitkd thereto.
<br /> t.Fees.Lendet may collect fees and charges authorized by tNe 5ecretQry.
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