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.._ �'�"°""""N' • ^,y:���t',K 1�r.Cq=�r� � � � .---- ---- _..
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<br /> yl- 102648
<br /> ,� Botrowsr ehall psY whan due th�pdnclpsl uf, �nd interat on.tMe debt
<br /> ' ' � l.Pq�Mal of Pd�clpNr Lteral luid LI�C�a�.
<br /> . i svidenced by the Noce wd late chvQa due under the Note.
<br /> ,`::;,.•���.:. .. 2.Ma�Wr�r�e ot T.u�,laatwa ud OIMr C�i.Bonower shdl Include in ach monthlY p�yment.toaaha with
<br /> ,�,:,,.,,� .
<br /> . ' �"�.�,.,�. • ; �he pdnciptl and iataat�t�et forth in the Note�nd�ny Ista chartet,en imtWment oi�ny(a)tues and�pecial waament� __
<br /> h pertY��nd(c)premiwtu tor —
<br /> . '•,� P.;•.: „�., levled ar to be levkd a�iast the PropertY,(b)la�ohold paymenu or around�ent�on the P�o =._-----
<br /> ., • ,.. •.: intucance requirod by P�ryraph 4.
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<br /> .... •; ., .
<br /> � �•� �� ��-- P.�ch monthly iaswUmcnt far items(a).(b)nad(c)ahall equ�!one-twelfth af the annual amounu,w re�onably estiaut y w,�_..__,____.,�_
<br /> . ..y . _. _ '_____
<br /> 5 t Lender�p�w nn amount�ui8cient to m�Wn�n addition�l btlance of not more th�a o�e•slalh ot the eaimued amounu.The -__
<br /> � ` �� full�nnual amount for each item sh�ll be accumulatad by Lender withia a period endiag one manth beforc�n item would
<br /> '. y.� `" ' become delinquent.I.endar:h�ll hold the wnount:collected in trutt to pay item�(a),(b)und(c)before they becoma delinquent.
<br /> a• , I f a t a n y U m e t b e t o t a l o t t h e p a ri n e n t s held b y Lender far items(a).(b).�ad(c),toaether with tha future monthly pwymenu R,•_
<br /> °�� �:. ��• • for such itemi pay�ble to Lender pctor to the due data ot auch items.e x a�e d s bY morc t h�n one-s i�c t h t h e es U m�t e d a m o u n t o f • �--
<br /> �' � ' p�ymeats toquircd to pay sucA items when duo,and ii'payia�ents on the Note aue currem�tden l.eoder ehaU eitRie�raiund the �rs�-�---- _�_
<br /> � excesi over one-ai�th of the estimated paymenta or crediit the acass over om-sinth of tAe estitaated paymmle Ro sutrxquent �k•�,;.�„_
<br /> cre
<br /> ,_ pyymanta by Borrower.at the option ot Borrower.IP the total of the puymenu made by Baao.+er for item(A1�.QbA.or(c)i� ��,�_`;-�:�;�:y:�;`,�;.�;
<br /> in:uf8cieat to pay the item whm due,then Borrower�hall paY to Lender any amount necasary to m�lce up the deficieacy on or _ ___�__„�,,..
<br /> , y before the dpte the item becomes dwa r�, � '
<br /> Ae used in this Security Irutrument, "5ecretarY•• mwas the Secretary of Hotuing�nd U�ban Develapme�t or his or her ;,4t'�A°,''»...-.;
<br /> • d a i�aee.Most S e c u r i ty Ins t�ru m e n t s i n a u r t d b y the Secretary+�e in�ured under pragrums which require advaace payment oi the t! 7�
<br /> entire mortaa�e i�uurance premium.lf tl�1a Security Instrument is or wu�lnsured ander a ptoanm which did not require advaace �o,..••
<br /> '�'���� . ' paymeat of the eadre mottgage inauranee premium,tbea each monthly payment shall also iaciude elther.p)an instaUment of the ------��=
<br /> �' •�•""� aanuel mort�e lasurenct premium ta be paid by Lender to the Secretary.or (1�a montdly chuge Instead oi a mon�e "''��
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<br /> ,;l�,�;�:.: insurance premium if tlda Security]nstrument ia held by the Saeretary. Es►ch monthly instalMent of t4e mortQ�e insuranct r,;_
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<br /> �t, ti pmmium shall be in aa amount sutiicient to accumulate the full annual monBoBe insurance premium with Lender one month ; � i;����i:'��y��
<br /> prior to thR date the fuU smnual mor igase insurance promium is due to�he Secretr►ry,or if thia Security lmtrument la held by the " ,"��,
<br /> ' Secret�ry,euh monthly charge shaA be ln an wn�unt equal to one-twelfth of one-halt perant of'the outstanding priaclpal }','l�t�};�;j��}y�" 's`��:'-
<br /> � �`' bdance due on the Note. '"
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<br /> �" ;: •�;.+!� If Borrower tendera to Lender tbe iull ayment of all eums secured by this Security Inun�mrnt,Borrower's account ahall be ^f �?.t_.
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<br /> 1�, :: credited with the bolance remalning far a11 installmenu for items (a), (b) ond (c) and any mongeQe insurance premium . ,1.,.�':;.;y��:,_%���°
<br /> '�` . ., •,� instaliment that Lender has nat become obUgated to pny to the Secretary,and Lender shaU promptly refund ony eacess funds ro `�'•>:,.
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<br /> ;,;�i, , Borrower. Immedlately prior to a foreclosure sale of the Propeny ar iu acqufsition by Lender,8orrower s account�hall be _
<br /> ' crcdited with rny balance rem�lninQ ior aU installments for item�(A),(b)and(c). ��-�
<br /> � .... ._�,'°.�
<br /> ' .�;•�;, 3.Applk�do�ot P��aenu.AH pc+yments under paragraphs 1 and 2 shall be appHed by Lender as followa: .� .7�,f��,, �
<br /> �� '�.',, '�`°�•. �.to the mort�e insurance premium to be paid by Lender w the Secrctary or to tNe monthly charge by the Secretary � '�'1-���,�..,;�,_
<br /> w._.rc .r -;:t;,.',:;':_.1�
<br /> •,,;-1r: :y inata�oi iha mu�iiiiiy nortgagc insurancc premium,unless Bc�rrow�►I+�id the entire mortpaKe insurance premium when this „_�`_._ 7
<br /> � Secudty inatrument wes sfgned;
<br /> SECQND,to any tiues,special assessments,leasehald paymems or ground renta,and tira,ilood and other hazard insurancx ��;= �==.=-.
<br /> , , premiums�as requfred: �v-�'�';f-�.=--
<br /> ' ' •� .� �$g.to interest due under the Note; r''�n�-�
<br /> • „ ,•.� y`��'•� �oue��.to amortization oF�he principul of the Nate: .4t. �'���'�
<br /> • , ,�..,),;.:.� Fj�j�,to iate charga due under th¢Note. • "' 1 ���'``"--
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<br /> � 4.Flr�e,blood wd 014er Hwtd�ewrmce.Borrower shall inaure all improvements on the Property,whether now in existence � �. � �• . 4�'
<br /> ' o�subsequently erected,a�ainst any hazards,cwsualties,and contingencia,including fire,for which Lender requira insuranoe. . • - ��
<br /> ;, , This insurance shall be maintalned in the amounts and for the pedods that Lender requires.Borrower shall also insute all . .
<br /> • f;; improvements on the Propeny,whether now in e�istence or subsequenUy erected.ag�inst loss by flaoda to tlie extent required by
<br /> "' ,:.��•�� the Secretsuy.AU insurance shall be cattied with companies approved by Lender.The insurance policla and any renewals ahaq � �.'��;h�
<br /> . �`; 1 be held by Lender and sheil include loss payable clauses in favor of,and in a Porm acceptable to,l.ender. � ��''.'::if�
<br /> �' �� .,•..�,ti::
<br /> �!' In the event of Iosa,9ottower shall give Lender immedlate notice by mail.Lender may makeproof of loss If noc made prompt- !,:�,'�•r��'-'•-
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<br /> ' � ly by 8orrower.Each insurance company concerned is hereby authoriud and dlrected to make payment for�uch loss directl to !'�'��':�
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<br /> Lender.Instead of to Borrower and to Lender jointly.AU or any part of the inaurance proceeds maY be appAed by Lender,at its �I���';� ��'''.`"`'�: '
<br /> '` } r�."���s:'�;!,: •,� , .,..i,•t.Y'� •t�,
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<br /> � '�;•Ir:i�,;�, ,.,�,.,� •:,.; option, either(a)to Ihe reduction oi the indebtedness under the Note and thia SecurNy Inatrument,�rst to uny delinquent ,�',i;�,_����;'<'!:�?:(;c�g,_,
<br /> `��{'�••;�' . ,�e •:�•. � amoums applied in the order in Paragraph 3,and then to prepayment of principal,or(b)to the restoratlon or repair of the ;:,,,���'�}�:,�.:;,.:..:.`f�t,�,�;�
<br /> . , � �' {
<br /> •�.�,,l�'�,�;�,. demaged propeny. Any applicallon of the proceeds to the pdncipal shall not extend or postpone the due date of the monthly ;:�,`(..�,;�.�;f.:,.,.„`.�t�
<br /> • . , paymenu which are refened to in Paragraph 2,or change the amount of such payments.Any excees insurence proceeds over an �i' ' rr,.;��.�tifi�•�,
<br /> 1,���;'�J�, amount rcquircd to pay all outstandin�indebtedness under the Note and this Secudty Instrument shall be pafd to the entity IeQal-
<br /> • ,.,:'..:, . ly endtled thereto. ,. � . '
<br /> �!,.�h:,��., ` ..
<br /> In the event oi foreclowre ot this Secudty Instrument or other trnnsfer of title to the Propeny that extinauisha the in- •`?�
<br />;�,.� . r`:l�i','; . •, �....
<br /> '�., {;,•,. . �,%;;�t,;• debtednas,oll riQht,dde and in�erest of Borrower in and to Insurance policies in force shall pavs�o the purchaur. ,
<br /> . ,; . ,,, :;�.:�;... .
<br /> �''' ' � '''�` �`� 3.Praerv�Uoo wd Mdnleau�ce o,f t�e Properly, I.e�ue6old�. Bor�ower shall not commit wasie or destroy, damage or ' .�
<br /> • ,•�y;,.
<br /> ,', t �'<<'`.•t r� . •. ; substandally change the Property or alloW the Prapeny ro deteriorate,reasonable wear end tear excepiecD.Lender may inspect �
<br /> �;''�'',�¢ , the propeny iP the propeny is vacant or abandoned or the loan is in default.Lender may take reuonable action to protect and
<br /> •r:. preserve such vacant or abandoned property.If this Security Instrument is on a leasehold,Borrower:+4�u11 com�l;v with the provi-
<br /> r.`•�;�.
<br /> ;,•�, � �:;��... ;,1�;�, sions oi the lease. i(Bo�ower acquues fce tide to�he Propeny,the IeasehoW and fee tide ahall not be mer�ed unlas Lrnder
<br /> • „ . �..:�r.,: aQrees to the merger in writinQ. ��' .
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<br /> .� .•���5 '`�� ' ,. ,f '-
<br /> r 6.C6u�es to Bonraw�er wd Pro4ec11oo ot Lender't Wghis i�Iht P�operly Borrower shall pay all eorernment�l or municipal
<br /> �:���, charga,fina and imp��+�:^rs tbac are not included in Paragraph 2.Borrowcr shall pay these obligations on time dircetly to the
<br /> i:•., � entity whieh is owed the pawment. it failure to pay would adversely afPect Lender's imerest fn the Property,upon Lender's rc-
<br /> � ��;r,: + , quest Botrower ahall promp�ly fcrmsh to l.en�er receipts evidencing these pyy�ments. ,
<br /> � � � If Bonower fails to make these payments or the payments required by Paragraph 2,or fafis to�erCorm�ny other covenents and .
<br /> agreertients contained in this Security In�erument,or there is a legal proceeding that may sigrt:ticanely�ficet Lender's righes�n
<br /> ....+ the Property(such as a proceeding in ban�ruptcy.tor condemnation or to enforce lews or regularwns),ihen Lender moy do and
<br /> ;,••,t � pay whatever is necessary to protect�he value of che Property and Lender's rights in the Propeny,includiaf�payment of taaes,
<br /> ' _i _ , hazard{nsurance and other items mentioned in Paragraph 2.
<br /> e_ _a�_ _r,�...�.:.
<br />: ._... . . .. ., .._. ._�. _-• __..._ _
<br /> � � Any amounts disbursed by lender under this rnragrapn snaii becomc a��nu�i�����w���.... ..�.�..�.. o�.�..�n��.���, ....,
<br /> � Security Instrument.These emounts shall bear interest from the date uf disburaement,ut the Note rate,and at the option of
<br /> �� Lender,shall be immediately due and payable.
<br /> 7,Co�devutba.The prc�eeds oi any award or clalm for damages,direet or consequential,in connertion with any condem•
<br /> . nation or other taking oi any purt of the Propeny,ot for wmeyence in place of condemnation,ure hereby ussigned pnd shall be
<br /> i • .
<br />� pafd to Lender to the extrnt oi the full amount of the indebtedness that remafns unpaid un er t e ote an t �s ecunty nstru•
<br /> ment.Lender shall apply such procteds to�he reduction of the indebtednas under the Note and ihis Securi�y Instrument,firv to
<br /> any dellnquent amounts applied in the order provided in Parsgraph 3,and then to prepaymeM ol'hrincipol.Any applitatioq i�[
<br /> the proaeds to the principal shall not extend or postpone the due date of the monthly puyments,x•hich are referred�u �n
<br /> . Paragraph 2,or chanQe the nmaum of such payments.Any exceu proceeds over an amount reqwreJ Io p�y all outstanding in•
<br /> � debtedness under the Note and�his Security Instrument sholl be paid to the enti�y leg�lly mcided thereto.
<br /> • t.Fea.Le�der may collect fas and charQa authorized by the Secretary.
<br /> Pu�a 2 oJ�
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