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<br /> d,�fYO�M�io.,;,..as. � �*3 ,.�IYi�1�M,wiio.�lMG•lr,eae,yt- -- ._,...�...� _._- _ _ -- i,:-.
<br /> .�t�•• - ..n:ar'' ii�'�Kd�4!�`�ri� - -
<br /> ..• ..�� ... .py �M •s!� .i.l.r . ___ "
<br /> .. �_... iy�L�N�.�r ' .�:�r
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<br /> j ,.���°'";': ` � w � of,�nd loterat on.lhe d�bt
<br /> .s N,�.,�,,.•.� . 1.hl�t of P�closl.Ulae�t��d I.�u CWep.8or�ower�dall paY hen due the p Pd
<br /> .;� •."' ° , ev�deacsd by the Note u�d lue cbu�a dw undK the Nae.
<br /> " . .! 3.Ma�Wiy h7�p of T�uw.lwn�c�u��r CY�.Borrower�hall include f�each mon�hly p�yment.lc�ethcr wi�h
<br /> ' •� '�'� �. the principal�nd iaterat a set fonh In the Note and�ny late chu�a.�►n InstNlment of u►Y lq tuei and�pecial�ue�umem� ---
<br /> .�;c,,.:,,,,M; ' levied or to be levled �ainst the PropertY,lb)IeasehoW p�yment�or around rcnu o�the Pro{�ertri �nd(c)Premiums for W - --
<br /> - � . ,..,. i�uuranee re4uircd by Paryraph�.
<br /> � " � F.�ch montdly i�ulallment tor ftea►s(A).(b)�ad(e)ahall equtl one•iwel(�h at the annual unount�,ns re�son�bly estimued Dy
<br /> �;: . ._.._ - •_�b� ��1?¢��� .—�__.__-
<br /> °"� Leader,plus w amount:uttidrnt to mdnt�in an additiaml b�noe of nat marc than onrsixth of�he esumated�mounts.7'he --
<br /> � full�nnwl amoum for each item:h�ll be accumulated by Lender within�period endin�ane mon�h before�n item would
<br />� � ,:^ • become deUnquent.Lender shdl hotd the amounb collated in tnut to paY����1�1.lb)and(c)before they become deNnQuent.
<br /> ; . . • If�t u►y time the tot�l of the payment:held by Le�der ior items(�I.lb),Rod(o).toaether wllh the future monthly pt�Ymentn -- --
<br /> for such itmup�y�ble to Lender pdor ro the dua d�tes ot ruch item�,eaccads by more t h�n one•si�th the es�imued�mount of !
<br /> p�yments requircd to pw such icema wheo due,�nd i(p�ymeM�ao the Nate ue cunent,then L.ender sh�ll eilhe�refuad the �;r�-F;:yw[��;��,{Q-
<br /> � eacas ova one-suth of the estimwted payments or credit the excess ove�one•si�th of the atimated pAYments to subsequent : .
<br /> p�ymrnu by Borrower.ac cb�c epdon of Boaower. It the tatal of the paYmenis m�de by Bonower for item(a).(b1.or Ic)i: ,
<br /> � ia:uffickat to paY iD►e item wE�due.then Bonower sh�ll pay to Lender�ny amount nec.asarY�o m�ke up the defidenc�r o0 or r��e I��
<br /> ' � ' before tde drta t�e icem baoanrs dr�oe. '-:-
<br /> ° � ,�►s used in this Secuci�y Instrumeat, •'Secretuy" means the SecreUuY of Hou:in�and UrbRn Development or his or her - �;,�
<br /> s:�:s,.::.-__--
<br /> � � �,lYiaat Secuni�r A�meats Ensured by the Secretary arc insured under progrnms which roqulrc advpnce payment oi the _ ...
<br /> n� •:��
<br /> � � -�� eaun�ard�uqte ijuur aac��W'emiuro•1f thia Secudty Insiniment i:�r wa�iniured undaa proQnun which did not require advance •.� � :
<br /> ';• ' p�ymemu o'i'aF�e eadre a►on�¢e iawrance premium.then ach monthly qayment shaU alsa include eUher:(q an inttalimmt of the
<br /> aanu�mortp�e Insunaa prcm(um�o be pald by Lender to the Sec�etuy. o�(ii)� rnonthly chuge in:tead of a mortRa�e ��.;,,—
<br /> , , insurance premium if tbis Securiry Instrument is held by the Secrettry. B�ch monthly lnstaUment af Ihe mang�ge insurance '',,��..�
<br /> „ ���� . • ' prcmiom�h�p be in an amount sufficient to+iccumuute tha full annual murca�le insurance premium with Lender oae month
<br /> ¢c
<br /> " pdor to the due the fuU aanu�l monaage insurance premium i�due to the SecretarY,ar ii this Secudty In�trument i:held by the � '
<br /> • � ';� .,,�, Secretary,euh mon[hly chuQe shall be in an omount equal to onatwelfth of one•bali perant ot the outstandfnQ principal � � �'��+ . *�
<br /> �;' �';' '• :::�.'.: .�. balaace aue on tbe Note. ',, ,!. ",Nr.
<br />, �... • � .._ , '�'•' �
<br /> � ti .; . . �;�{;!.'. ;�. If Bo�rower teaden to Lendor tAe�uU payment of all sums secu�ed by this Security[nstrumrnt.Borrower's accoum ahall be ,�_•, �;�„
<br /> ''' �•,:?!„ ��. ' �r`� •` crcdited witd the bal�nce remainin� Yor aU insteliment: for iteme(a),(b) and (c) �nd any mortga4e insutance premium • '��
<br />'�"�'� ,� �`�::'��y• ' inst�lUmeat thst LencOer ha�not become obUgated to paq ta the Secre�arY,w�d Lender ihall promptly refund any excas fund:to : ' � ;�-
<br />�;.c� �}�i°,�1��� ` Bortowa. imraediai21y prbr to a foreclosure sale oi tQie Propeny�r its acquisitioa by Lender. Borrower'�account�holl be .:.}.:;.;.,,__
<br />�' ..,• • `.,'� creditai waafi ar�y balancr rcmaininQ for all instalimeais for itea►x(aA,lb)�(�)• ��"',�!'i r.. . .
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<br /> � • 3.Appllc�doa ot W�YmaU.All payments under paraprxRhs E u7r12 shaU be applied by Lcnder as followa: �::f.' •.;,; ..; •;;�,�
<br /> � �. FJg�,zo�hx mo�ps►�e in:urance prcmium to be paid by Lenr]xr eo the Secretary or to che moMhly chuQe by the Sec�etac�
<br /> � b..'—�---- instead of the rnontfi�ly�uottgage incursna pma:a=,::^'�s.`•Benrwtr l+nid the eotire mortgape insurance Premium when th�s �1. _ _ ___� �
<br /> Secu�ity Inswrnem was si�ned: •, ;-:—�"a
<br /> •� � S -ECOND,to�ay texes.epeci�l assessmenu.leasehold payments or Qrouad rents,w►d Orc.0ood end othe�hu�zaQd insurance ;..•_ ' ,_-:__.
<br /> � ' Y premiums. a�rcquired: � i;:!,�'n•a.
<br /> � `'';;�J�''•,, , �,U,�Q,lo lnterest due under thR�otz;
<br /> FOZI T•F,to amoriization of thz princlpal oF the Note; � :,;�!�,''�'�' "�
<br /> . . t •:: . � ".�;�>>i`' �, tu late chargxs dee undxr ihc Note. •
<br /> � . •�.,�, . . ,�. �
<br /> � i: .('; � • `� .
<br /> , :; • . +,FYre��lood u�qll�er Nwrd IasaQa�ce.Bonower shall insure all impruvemenu on the Propeny,whether now in euiatence •. .�
<br /> •. .' or subsequenAy erccted.t+�gainsc any hazatds,casualtia,ond contin`encia,including fire,for ah9cA Lender requires insurance. i
<br /> a
<br /> ,, � • . �:,� This ln:ur•unee ahaQ be maintafncd in the amounts and for the periods that Lenda requim. Borrower shall also Insure all .
<br /> ,� . ..�.;„ imprc�vem•ents on the Property,wheit�et now in existence or subsequently erected,aednst loss fiy floods to the extent requircd by
<br /> • � n;;; the Secretary.All insurana shall be catried with companks epproved by Lender.The inaurance policies and any renewals sha71 �•' .-��,
<br /> } • <...b '. be held by Lender and shaU include loss payable clauses in favor of.and in a iorm acceptable to,l.ender. , .
<br /> In t he event o i loss,B orrower s h a l l g i v e L e n d e r i m m c d i e t e n o ti ce b y mail.Lender may make D��f af loss it'no�made prompt-
<br /> ly by Borrower.Each insurance compAny concemxd is hereby authorized and directed to make payment far such]��s directly to :
<br /> � � �t• Lender,instead of to Bonower and to Lender janily.A11 or any pan of�he insurance praceeds muy be applied by Lender,at hs � •�� •
<br /> f.. ti
<br /> �i��,�• : option,ei�het (a)to the reduction oi the indebtednw under the Note�nd this Savrity Innrument,fir�t to eny deGnquent , ••
<br /> '�� � � amounu�pplied in t6e order in Paragtaph 3,and then to prepi►yment of principal,or(b)ro ths restoration or repair of the ,;�,� :.,r _
<br /> : .�,. � �
<br /> � � { dunaged�ropetty. Any applict�don of the proceeds Io the principal�hall no[extend or postpo�nY�hr due date of the monihfy , :�;
<br /> . a�imount�requl�rsd tfa Fnyeal�l ou st d n�ndebtedness under hhe N te and this S curity Instrurnent shll be ptid to the ent y le�al- .'1 ��' '
<br /> ly entitkd theeno. �
<br /> , „ ;,� In ihe event of foreclosure ot thie Security Instrument or other iranskr of titk co the Propeny that eatingufsha the ia�• . _ •
<br /> debteclness,dl ri4ht,tiHe and interest of Borrower in and to insurance policks ia force shall rsus to the purchaser.
<br /> i �
<br /> + S, ptesemUa ard Mdoteauce ot t4e Property, I.eneMold�•Bonower shall not commit wavu or destray, dama8e or
<br /> sub:tantially chu�e the Propeny ur allow the Propeny to deterio�ate,rwsonable wear and lear exc�pted.Lmder mAy Inspect
<br /> � the pTOperiy if�he property is vacant or abandoned or the loan is in default. 4ender may take reasonable action to protect and • ,
<br /> � prcservt such vxant or abandoned propeny.if this Security Instrument is on a leasehold.Borrow:r�hall comply with the provi-
<br /> ' sians o(the lease. If Bortower acquircs fee title to the Property, tAe leauhold and fce title shad�not be mer�ed unlas Letwler • �
<br /> � aQrces to the merget fn writinQ. , ' " '
<br /> • . 6,�,'Y�rte to Borrower�rd ProtecUon ot l.e�rr's Rig61a lo the Property Borrower shall pay all governmental or m�nici�al
<br /> chugp,fines and impositfons that art not included in Paragraph 2.Borrower shall pay these obligations on time directl�•ta tl�e
<br /> � ;J� ` • tatfity which is owed the paymeat.1�1 f ailure to�ay would adversely affect Ler�der's interest in the Property,upon Lender's ze-
<br /> � •� .y,'+.., ' , quesc 8ortowet shall promptly fuTCUh io Lender receipts evidencing these p�yments.
<br /> '�i '^�•� ���.��'.''' It Bortowa fails ta m�ke these pa}n:er�es or�hc pavments reqwred by Puagrap h 2,or iai l�lc;-r:iorm an y other covenaaias and
<br /> �a,• .
<br /> •_��l; agreements comuned in Ih�s Securny Ins��umena,or there is a legal praeeding ch��may sign:�i,�nUy effect 4ender's righ�s in
<br /> ' the Propeny(such as a proccrding in bankrup�cr.V'�r condemnation or to rn(orce uw s or regulations),Iheo Lender may do and
<br /> � pay whatever is necasary to protect 1he��alue of the Propeny and Lender'q nQhes m tP�e f°QOptray,includin�payment ot tyea,
<br /> , harard inwrana and other items mentioncd in Parrgraph 2.
<br /> _.i�.�. ...A I.v�h'c .
<br /> � Aey arewuntsdisbursed by lender under this Paragrapn snali oecome en addw�cmar.�.a v�:T>�t��c��.�������..--,--�
<br /> 5ecurity lnstrument.These amounts+hall bear intercst irom the date of disbursement,ur the Note rate,and at the opt�on of
<br /> � Lender, shdl be immediately due and payable.
<br /> . I 7.Corderruqo�.The proceeds oi any award or claim for damaees,direct ur consequentfal,in cunnauon with any�ondem-
<br /> nation or dher takin�of any pan of the Propeny,or fvr conveyance i�place of condemnation, ue herehy ass�gned and shall be
<br /> •� � paid to Lender io the extent olf the full amount of the indebudness that remams unptid under the No�c anJ�hi.SRUnt�Instru•
<br /> ment.4ender sh�ll applp such pnxYeds to the reduction uf the indebtedness under the No�e and this tic�urnv Instrument,first to
<br /> any delinquent unounts applied in Ihc order provided in Parograph l,and thrn to prep�ymrnt ol prin�ipal.An�•�ppfi�ation of
<br /> the praeeeds to the pnncip�l shall not extend or postpone�he due due a(the mon�hly p�yrnent.. Mhich a�c rekrreJ 1u m
<br /> , � � P�raQtaph 2, or chu�e 1he omoun�of such ppymtnls.Any extess ptc+cteds wer an amount ieywred 10 po>�all uutstandmg m•
<br /> debtednest under 1he Note and this�unl�•Insttumem�hdl be p��d to the entity legally entiticd thercto.
<br /> �.feei.Lender may aollat (ctis�nJ charges authonced by the5c�rc�ary.
<br /> Pa�►r 2 n►I f
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