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<br /> � ' � 1.h�eat ot r�Mcipl,I�teral��d I.�t�Car�e.&►rrawer sh�ii pay wdan Juo the pifncipal af,and lnterat on,the deb� — ---
<br /> ,...,.r.,�, ..'. ;,..� evida�nd by�he Nas and ble ciur�a dne unda the Nae. —�`
<br /> � 2.MNW�h�e�b of T�us.Iarn�ce�d aYer C��r�es•�►r*ower shall include in each monlhly payment,�o�ether�rith �"",�_�, _
<br /> •u
<br /> • �'•. the prfncipd�ad intaest as tet fonh in the t�ota ond any I�te elurQa,an in:tdlment af AnY l+�)tua�nd special assessmena �" '�:•,'�y,�.��;.�:
<br /> . � „';�� levied or to be levied�inst Ihe Praperty,(b)laseho4d p�yments or��ound rrnts o��he Propeny. and(c)premium.tor �,__�
<br /> . . Wtutu�ce nquired by Pua�raph 4. �=- "'�
<br /> � ' � �tch monthiy insallment for items(a),(b)�nd(c)shdl equwl one•twelP�h af the annud unounta,as reasonobly estima�ed by Yr-,-..--- _ —
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<br /> � "' I.eader,plui an�unount sufflcknt to maiaain an�ddfUond balurce of not moro th�n une-sixth nf the cstirt►ated umounta.The ,�� T
<br /> „ fuQ uinual�unount for each item ahdl be�ccumulatM by Lender within�period endine one monih before nn ilem wauld � — �
<br /> 11 �- � becane deAnquent.Lender sMU hold the amounu collxted in trujt to psy item�(a).(b)and(c)before they became delinquent. Ir.:.����1::� -_-----
<br /> � ents G�.�.s.°:�.�;._;
<br /> '' � If u any time the toal of the Wyraenu held by Lendar for items(a),(b),and(c),to�ether with the future monthly paYm ,�s,,
<br /> ' for wch itaas p�Yabla to Lender prior to the due d�tes ot cuch items,excad�by more thwn onrsixth the alimwted amount of . ,,.i"`sX��g���-
<br /> ...�-��«;�
<br /> psymenta requircd to pay such iteau when due,aad it paymesns an the Note are current,then l.ender shall either refund the ar.���,
<br /> " excas ova one-aixth of the aeimated pRyments or crcdit the excess aver one•:ixth of Ihe estimated payment:to subsequent • •_..,.,�,•;:-.:V. .,
<br /> paymeats by Borrower.�t the option uf Borrower. li the tot41 of the paymenta made by Borrower for item(al,(bl�or(c)ia ; .:�.:�—��----
<br /> ' � '. ., insufficient to pay tde item when due.tha�Borrowm shaU p�Y to Lendor any�unount neceswrY to make up the deficiency on or i;•: ;:;_{,'��, '0�°•":,`.;
<br /> , � . befom the due the itaa becama due. M�-- � ;
<br /> �� , .. •• Ucba�e peve�opeaent or hts on c�r �'.`',�. .'�x;��, �,:
<br /> A�used in this Secudty Instrument. Secretuy me�ns the Secrctary of Housm�and_ nt of the , '=�;.•. .. ` �,
<br /> �n '-
<br /> . , � designa.Mast Se�urity Instruments insurod by the Secretary are iasnred under proaraa�s rlurA aquue advance Dal� ��� ,�.�:�:��qv� ��t:
<br /> entlre mon�e insurana premium.lf ehis Seeudty IaluuaKaa a ar�a4 insured uuder a Dro�ram whics did oa rcyuirc advance , . : ,,.a �. ;
<br /> 4
<br /> i .. . , nt shall a{so include euher.(i1 an installmem ot the ; - �-..,.:.:.'r+±u',,.�.
<br /> pRymeo[oi c4e entire mon�e insurance premium.tl�ea a�c6 moati�iY payme i, •''- -
<br /> " �ual mort�e insuraace prcmlum to be paid b�r l.ender to the SecretarY.or(ii)a monthly chuge instead at a mor[ga�e
<br /> , ` -��R•�-
<br /> � insw�nce premium if this Securfty Instrumeat is hrWl 0Y ihe SaretarY. Each aeornhly uutallment of the mortgage insurance �.��F.w���. ,
<br /> ��r prea�ium sA�!!be in an amount wilicient to Accumutate the faG anaua!monQa�e insurance premium with Lender one month : .,', ;:.�-
<br /> • r` prior to the date the full annwl monga�e inmrana prcmium is due to the Secretary,or iP this SecuntY Instrument is held by the ,"•���-•�,
<br /> :�;�•,
<br /> ,,;. �,�:,..,I Secmary.each monthly chtu4e shall be in an wnount equal to one-twelf�h of onrhstlf percent a�fi the autstandinQ principal i; --r_._
<br /> ,?[i;;�. balaace due on the Note. �j... .' � �. y�l'':�-
<br /> ,�.��'�:r ,,,.., . "
<br /> If Borrower tenders to�.eader the fuU payment of all suma secuad by this Sn:urity Instrument,Borrower's ucount sheU be ,
<br /> " credited with the balance remaininQ for aU installments for Items(a), (b)and Q�)�d �Y mortgage insurance premium • �
<br /> � installment that Leader has not become obllQated to pay to the Sec�etuy,and LendM ahaU promptly refund any excas funds to •
<br /> • ' ,;�.. Borrawe�.Immediately pdor to a foreclosure sale of the Propeny or its Acquisitioa by Lenda, BoROwer's xoount shaU be b,,,r•
<br /> ' ,. . credited with any bwlana remaininQ for all installments for itews(al.(b)ac�d lc). ` r
<br /> 3.AppYpilloa of P�fne�u. AU paymenta under pu�raphs 1 and 2 shaU be applied by Lender as foUows:
<br /> FIRST,to the mong�Be insurana prcmium to be paid by Lender to�he Secretary or to the monthly charge b!;the Secretary
<br /> -_ - Instend t+t rhe mon�hly mortgage iniuranu prem6um, uailess Borrower paid the e�tire monga�e insurance pYemium when this
<br /> ' �.'�/i%-. Security lnstrument was signed: .
<br />. �'''�:1 SECC�N�,to any tana.specid assessments,kagehald payments or gruund rents,and 6re,i'laoi'.a:.:!o[her hazerd inaurance
<br /> � .,,.,;,_ � � y
<br /> , .r�.:�':•:'i� Prcmiu�ns,es fequircd: :
<br /> '•�•;•'.' ;� 7'Fi1RQ,to interest due under the Note; • •_
<br /> �'���'��� URT ,lo amortimtion oi the pdncfpat oi the Nole; � �
<br /> :� . ' '',..�y��.`�, . �� . •
<br /> � • '•, ,�,;.�.: �j�,to late cr.acg.�s due under the Nota ,•' .
<br /> : cp,�� .�,,`:-�;" • , .
<br /> '•�,�;� , • ,.���lood sod��ye�B�s�M��su�oce,Bonower shall insure aU improvements on the Property,whether now In euistence .;,' ,„ . .. ,
<br /> .f�` or subsequenUy erected,agalnst eny hazards,casualUes.and contingencia,including 6re,for which Lender requira insurance. 4���' ' . '�.
<br /> T h i s insurana s h a l l b e m a in t a i n e d i n t h e a m o unts and for the p eriods that Lender requira. Borrower shall also insurc all
<br /> • improvemenp on Ihe Property.whether now in existence or subuquently erected,ageinst loss by 0oads to the eatent rcquired by
<br /> '� the Secretary.All Insurmce ahall be carried with campanies approved by I.ender.The insurance podcies and any renewnls shall
<br /> ' be held by Lendsr and+hall Include loss payable clauses in favor of,and in a form acceptable to.Lender.
<br /> In the event of los.a,�Borrower shall give Lender immediote nadce by mail.Lender may make proof of lou if not made prompt-
<br /> • '��:�:� ly by Donower.Faieh insurence eompany coneemed ic hereby authorized and directed to make payment for such loss directly to
<br /> `�' ' � Lender,instead o![o Borcower and to Lender jointly.All or any part oi the insurance praceeds may be applfed by Lender,at its
<br /> '�����r.�' opilon. elther(a)to the aductbn of the indebtedness under ihe Note and this Security Instrurnent. first to any delinquent
<br /> wnounts applied in the order in Paragraph 3.and t!:en to prepayment oP princiFal,or(b)to the ratoration or rcpair of the �
<br /> ' � daroaged property.Any applieatlon oi the proceecls to the principal shall no�ext�nd ar Fostpone the due date of'the monthly
<br /> payments which are reierred to in Paragraph 2,or rhange the wnount of such paymer�ts.Any excess insurnncr proceeds over an
<br /> . amount required to pay all outstandin�indebtedness under the Netr and this Securiiy In�trument sfiall be peld to the entity legal-
<br /> ly entltlad thercto.
<br /> •� �� In the evtnt of foralosurc of this Security Instrument or other transfer of title to the Property that extinguishes the io-
<br /> , „ , debtednas,all ripht, title and interest oi Borrower in and to insurance policies in force shnll pass to the purchassr.
<br /> � �<<;,.;;�. S, p�rnen.tton wad M.to�ea�aa ot �de Propeny. I.audold�. Borrower shal�not commit waste or destroy,damage or
<br /> • �••.; substnnii�lfy change the Property or allow the Property to deteriorate,reason¢b1e weu and tear excepted.Lender may inspect
<br /> ��• ��.P� _ the propeny iP the property is vacant or abandoned or the loar is in default.Lender may take rTas�nable action to protect and
<br /> !':•• �"',�� praerve such vacant or abanduned propeny. li this Security I nstrument is on a Itasehold.Borrowtr�hall comply with the provi-
<br /> sions of the Iwse.If Borrower acquira fa ti�k to tha Property, the feasehold and fee title shald noi be mergsd unless Lender
<br /> ,• ,
<br /> !'�'��7�•�;;' �rea to the merQer in writinQ.
<br /> r:.;�;
<br /> �;'''.'��' 6.C6�rga 10 Bor►oKer o�d ProtecUoo of l.eoder'�Rlghla ie the Properly.Borrrwer shall pay all gov<rnmen.at or municipal .
<br /> % �`� .harges,fina and impositions that are not included in Paragraph 2.8orrower ehal)CeY these obliga;iuns on time directly to the •� .
<br /> • ��'.� •' enti�y'which is owed the payment.If failure to pay would adver.+Clc aifect Lentter's interest iot ahr�roperty.upon Lender's�e- �
<br /> �,., .
<br /> ' • . ' quest Borrower shall promptly tumish to Lender receipts evidercir.g t ese payartrnta.
<br /> � ' ,�t`.c•'�• • ' DY�orrower fails to make these puyments o�rhe payments required by Paragra,r�.:.or fails to perform anY other covenants and
<br /> . �,•• ���,,', aqreements contained in this Security Instrummt,or there is a legal procadir.g•:yac may significantly attect Lertder's rights in
<br /> � ;r�`�'�•���'�"�' 3'hr Psopeny(such as a proceeding in bankruptc�,for condemn�iion or to enforce laws or regulations),then Lender may do and
<br /> � ��� �ay whuever is necessary to protece the value of the Propeny�nd Lender's rights fn the P�openy,including payment of tua.
<br /> • • '� h�zatcd insurance and other items tn<nt�oned in Parograph�.
<br /> ,,..: , .
<br /> .1�. .: � . ,�_�.._._��.. �__a_.....a...ti.�o..�e.e..6��,�II f,ernme nn addiuonal deht a�Botrower and be secured by lh�s
<br />-. ��r..••.'�. AOr�IUVU11iD umuwxu u� .•.ww. ........ ..""'_-�'_�"_"'. .
<br /> �:�;�j',;� Security Instrument. These amounes shall btar�ncaest from�Ae date of disbutument,at the No�e rate,artd at the opnon oT
<br /> �:• ' f Lender,shall be immcdiately due and payabk.
<br /> , .. I
<br /> i 7.Cmdemoallon.The proceedc of any awud or clum tx Sunagas.d�recc or consequrntial,in connection with any condem-
<br /> , .
<br /> nuion or other takin�of any F�rc ol'rhe Proarty.or for con�eyance�a place of condemnation,arc hereby assigned and�!�sll�e
<br /> pud to Lender to the extent of the Yull amounc uf rAe indebtedness�hac remams unpaid under�he Note and this tiecurity iestru-
<br /> � � ment.Lender shall upply such pra:teds ro tlte reduction of tke indebeedness under the Note and this Security Instrumenl,firsl to
<br /> � any delinquent amounts applied ie the��rder pro��ided in Paragraph 3,and then to prepayment of prmcipul.An�applicat�on uf
<br /> , the praeeds to the principal shall not actend or postpone the due Jale uf the monthly paymen�s, which are «ferrtci w m
<br /> Purtgwph 2,or chrtnge the amount of such payments.Any excess proceeds over an amount reqwred w pav+II uutti�andmg m-
<br /> debtedneu under the Note and th�s Security Instrument shall be paid to the entity legally emitled ihereto.
<br /> . i.�ea.Lender may collect fees and charga aulhorized by the Secretary.
<br /> PoRe:nJ 1
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