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<br /> • ° . : ,�' , : 1.Pqru oi P�I�efp� I�taRa ui 4t�CY�rp.aorro«a�ha11 p.y when dua�h�pdnnP�l ot.�nd intercu on�tbe debt
<br /> "� � �''��:� . �,W e n c e d b y t h e N o te�I�te chu�a due under che Note.
<br /> ..�,..�.--- -
<br /> `�'�''-�• Borrower�hdl inciude in e�ch monthly p�ymmt,ta�etha v r it h _
<br /> °.•' _.Mo�t�b til�p ot T�ca��wrun�ri 01Mr CW�. - - -
<br /> ,.� • �: the p�inaiPd�nd Intaest�s set forih in the NWe u�d my late ch�artt`o��ound re�u1 on he�PropertY.�and l�1 prem��u�u tot --..
<br /> ' "n. ., levlod or to be lavied a�alnst the PropenY�(b)��a� _
<br /> " . � iniurana a4uirod by P+u+�r�Ph 4. _.-
<br /> � B�ch monthly inst�llmeat for itcm�(�)�lb)�(�1�1 M�ane-twelf�h of the annu�l�mouna�u reawn�bly atimated by �
<br /> ' . ^. Lendcr.ptus an amaunt auffle���sh�U b�iccumul�ted L l.mder within o�pe�faf cnding o�eumonth hei fo ed�n i�em�w Th�d c=�--_--- ----
<br /> ,. ._ ;,:. _ � ^._ _
<br /> ���,. tup a�nud�mount ior ach i
<br /> '" .�'' become delinquent.LenMv:hall hold the�mounu eolkc► in tru�t to pay items l�),lbl�d(c)befon�hey become dellnque�nu —
<br /> �� � � r If�t any Ume the tot�l ot tha p�ymeets held by LeodM for item�h).(b),�nd(c),toaether with the future monthly paym �� �
<br /> � for�uch itemip�Y+�ble to Le�der pdor to the due d�ta of sucA items�eaoad�by mom th�n ona:Gcth the atim+�ted�mount of ���__._
<br /> � ��'�' such itemi whea due,+u�d�P P�Ymrnu on tha Note wre curreob�hen Lender:hdl eiiher rofund the �.�_�
<br /> ' � p�yma►ts raquirod to pay rnts or crcdit the excess over one•sixth of the adm�ted p�Yment:�o:ubsequent .�,—__
<br /> � " exeess aver one-sixth of the estimued WYm ents m�da by Bonower for item(al.(bl�or lc)i� ti�v+ • ���Sr•
<br /> ',•,�: �. ^ . paymenu bY�►rrower.+�t the aptian of Sortower. It the�otd of the p�ym �•_:�s,._>'-��=L_..���..
<br /> ::..::..:...:.: '., iasuiikkat to paY tUe item wben due,then Bonower�hdl pey to I.ender anY amount neceas�ry ta m�ke up the defickney wn or �_ _
<br /> ; `",. . bei'oro�be date tAe item bacomes due. �--�."'�°"'
<br /> . ,,.
<br /> ,ti,� . { t• , .. �u�in�dis Se�urity losuu�ment. "Secretary•'mwu tlrc Secietary at Housia�and Urban I)evelopment or hrtt o tAe �r�- -
<br /> ,�, , deyi�ee.Moat 5ccv�ty Ingtrumenla inaared by the SavetAry tue inswed unda�08��whM;h rcpuirc advance payme �
<br /> � •• which did not requirc�dvana �;-.-_-
<br /> � 'entim man�ge�nsuesu►ce D*emium•�f tMii Security In:tn�ment is ot was iasu�ed��ip%�efther:(i1 an installment of�hc �.�
<br /> � 1 �.•,r�� „ ' WY�1 of the entese�erK4a�e insurancc pnmium.then each raonlhlY W� "•,•t �-,...—�--�:,
<br /> ' an�u+�1 mort�e inruz�ce premium to be paid by Lende�to the Secrot�ry.or(iil+���I�y chprge innatd oi�mon� , r,� � .y
<br /> �:r�..e,_i34 '�ia:J�..°'
<br /> ' , premium fhri�ll be inia�n s►�na��ificient�to�accumul�t the i w�ni�wt mort�e�in urance pTemium whlh Lend�one� . � ,�.. �,-� -
<br /> prior to the date the Baa17 anns�a�i murt8a�e insu�ance premium is due to the SecrctuY.or if this Security Instrume�t is held by tAe �,u � '
<br /> .��;:
<br /> . Secreary,wch maaaQnYy etuic�i shdl be in an+unount equal to om-twelfth ot oae•holf Percent of the outsundinQ Principal . .�,''':
<br /> b�laace due on the Note. • �� -
<br /> • y Borrower'a accourtt ahaU be � �
<br /> If BoROwer tendea to 4r��clea ahe[ull psyment oi all aums secured by this Secu�ity lasaument.
<br /> ¢r e d i t e d with the bRlance rernaanin6 for all in:taUmenta for items (a), (b)and(cl and anY monaaB� inaurance pranslum ,
<br /> , • , instaUmentthat l.ender haa na�'bxc m��uW����o�he Propertyeo�i itsaa quisi ton ib y l.en�t'Borrowere1ywxaunt xU'haU be ../!,_- .. .
<br /> • B o r ro w e r.l m m e d i�t e l y p d o r t o a �~="��..�`�.:' _
<br /> credited with wnY balamoe rem�W�for all installments ior items(�).(b)��(�)• ,:.�s_:..•- .
<br /> 3.AppYaitbN o1 P�wepd.1►11 pAYment�under para�phs 1 and 2 sha10 be appRed by Lrnder as followa: ,:j�h. :, r�-`.,..
<br /> ' ,, �g�,to the mor1gaYe InaGrunce premium ro be poid by Lende�to the Secretary or ta the monlhly ch�u4e by the Secretary , _
<br /> " instad of the monthly mai�gAg�e insur�nce prcmium,unless Bo�rower pafd the entirc mon�e insurance premium wheer.ahis `dy�:a�`I H_:�•. q_-—
<br /> .°5
<br />. .. . ;_-_- —-.- Securiiy incirwr.t�n:was 1�^.tdt .--- —_ --. `�y
<br /> . ��i�,,;,, � � : �ECOND,to any tatts� s�rcial assessmenls.lesuehold paYmeau or�ro��l ra��a�pnd G�e.tiaod u�d otha hnzetd inn�+�vaaa . • �_�
<br /> � •. �• � • • pnmiunu�as rec�ulred� .�;:._::
<br /> . t•
<br /> :I;��',f•, � ;�`...'.�r.)� �. ���to inttrtst dut Gndct the Note: "'!"'.. „
<br />-,1:�`::� �I ".t`�,�:�;;'1.�;�I��. � FQU T .to amortization o7�he pdncipal of the Note:
<br /> ''����: '`�'' ' ;.��,,;, �� �]�'j�,to late chwrQa dut un:ler the Note. , ?�. . j
<br /> ��:•, ,, �•�.i�: .rr� • _. . .�.
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<br /> 4.��Fl��od q�l�e�Hu�rd�osun�ce,Borrower�ell insurr all impTOVemenls on�h•t�ropeny.whether now in exiatenct
<br /> � ,:, � ' or subsequenlly erected,against any h�ards,caaualties.and contfngencies,includlns fire,for which Lendar roquira insurana. � �!
<br /> , � � This inaurana sholl be m�intained in the amounls and for the perioda tfiac l.ender requires. Borrawer shall alao insurc all w
<br /> imyrovemenu on the Propeny.whether now in existence or subaequently erected,aBainat loss by ftoods to the extent required by
<br /> the Secretary.AU insunnce shall be carrfed wlth companies ePProved by Lendar.The insurnnce policies and any ronewale ahall f � . y'�
<br /> be held by Lender and shaU include loss payabla clauses in favor of,and in a form acceptable to,Lender. t
<br /> � In the event of loa+,Bor�ower shwll give Lender immed{ate notice by mail.Lender may maka proof of loss if not made prompt- �
<br /> �,� �� � ' ly by Borrower.Each insurance companY conarned is hercby authoriud and directed to make payment tor such lou directly to ,
<br /> ,•� ..�� Lender,inatexd of to Borcower and to Lender jointly.All or any part oi the insurana proceeds may be aPPlled by I.ender.at its , ;;,j,:
<br /> :,,r�:,.�,, !�,:r.�; option,elther(a)to tNe reductton oi�he indebtedness under the Note and this Security Inatrument,first to any deUnquent
<br /> ••,• •--•�r•,.�}� ,. .;��:,
<br /> .,�.,,.�,. •.,.,,��._.., amounts appUed in the order in Parngraph 3,and then to preppyment oi principal,or(bl to the restoration or repalr oi the ':��,�;,�:;"
<br /> ,;:�..;, ;;����';i •,.�c domaaed propeny.Any aprlicntion of the proceeds to�he,�rin;ipal ahall not catend or�ostpone the due date of the monthly .
<br /> , . , t;.pa;.r. (�,;, m �� � !.
<br /> „ paymenta wbich ue referced tn fn Paraaraph 2,or change the nmount of such payments..�ny excess insurance proceeds over an
<br /> amount rcquired io pay all out:tondin4 indebttdness under the iVote ond this Secudty in�rument shall be paid to the entity IeQW-
<br /> " ly entitled theretn.
<br /> ' debtedne:a,all�i�ht r hlesand imerest of Borrowerrin anc7 o in�utancenpolicies ie force�sh�ll p�srto thctpurchaserhes the in-
<br /> S, prnerwUoa �ad Md�ten�ace of t6e PropertY. I.eose�o�di. Borrower shall not commit w�.ste or datroy, damage ot ,
<br /> 'i.., . cubstantially change the Property or�Ilow the Property to dateriorate,reasonabk wear and tear ezcepted.Lender may lnspect
<br /> , ; the property ii the property is vacAnt or uTandaned o�the loan is in defautt.l.ender may take reasonabk acNon to protect end
<br /> 'i .'�„ . �..+: preserve such vacant or abandoned proper•i;..i f abis Security Instrument ia ae a leasehold,Borrower sha!1��mply with the provi-
<br /> �' '` � ��. �,, r i�','i;I afons of the lease. If Borrower acquira tee ti�1e to the Property,the leasehdd and fa titk shall not be mer�ed unlas Lender `
<br /> E•:���, � � ��'•'
<br /> ,,'� . ' i °� �,�;,.j�•' a�rees to the merQer in wriair,g. , '
<br /> ,�•,,., .....•.� �
<br /> , � •�`��'..:�.�. ,,,,..'. �� .
<br /> . . '..`�'' , 6.Chuta 10 Bor�ove�u�l P�'o��o al Lender'e R$tM�ts i�the Propehy.Borrowe�s::al�pay all governmental or municipal ,
<br /> ';I '
<br /> , chuQes,tines uul impositiorts t:hat are r.ot i�.'audad weu'.9 a ersely al'�.rc�Ltr.der�'s inierest in bhe P�P�np,Pon�Lender's re�
<br /> - entity which is owed the payment.IY fai:.:st t�Do.
<br /> quest 8ono�er shall prompdy furnish to�.er,der t<ce�:ix,e�idencin�a�esr r�Ymenls.
<br /> 1!Borrower fails to make these payments or the paym�er."•�rtt�w�red by ParaBraph 2,oc fails w pertorm a;e>�+.her coveoarau and
<br /> �reements contnin��in i�is�a ugrtt��nk�pcCy,forthor�wrmnauon or oecnfo c luws or repa�t ons�hetn Lenderpraa��dotand
<br /> the Propeny(su�h p
<br /> l �
<br /> h�azard inwrance and o herie ms rnenr�ned inf Puag aph 2 nnd Lender's ri�hts in the Ptoperty,iacludin�paYment of tazes,
<br /> . � �i Am omounts disbursed by tender under tlti�Peragraph shal�become��nhd't��n^dea`�h�No�e�a e,and at he pionhot
<br /> , _ . . ,.•-- ........
<br /> � Secutity Instrument.Tllese�tmoun[s snaii ix�� n��c�..�� �•---•- -• --
<br /> L�nder.sl�all be immediarely due and pay�ble.
<br /> � l,�.Thc proceeds ot un>•uward ur claim(or damages,direct or consequendal,in cunnecti.m N ith any condem•
<br /> n�tion or etl�er talcinQ of any part of the F'ropeny,or ior con�eyance in pluce oi condemnallon,nre hereby assigncrl and shall be
<br /> ' • , paid to I.ender to the eatent ot the fult amuunt at the indebtedness tha�remains unpaid under the Note and thi�Se�:urity Instru•
<br /> . � ment.Lender shall apply such pnxeed�tu the redur�ion af the indebtednesc under the Nwe and thfe tiecurity Instrument,first ta
<br /> �ny delinquent amounts applied In the��rder providecf in Puagraph 3,and then to prepuYment o(principal.Any�appli�ation ot
<br /> I the procetds tu the principal shall not exlend or postpone Ihe due date ui the munthly payments,which ure refetrrJ to in
<br /> debte8dness u�rltheBNohe nd h�����hY ��mumentAshall be pa d toahe rntuy IeQally enti�tled �here uJY�II��u�`�anding in-
<br /> s.iees.l.endc�may coller•t tees and charges authoriced by the Secrdory.
<br /> Nrxr?„►�
<br /> � �J r�
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