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<br /> 91-�' 102969 -
<br /> �� �af of .l�t�eat�M L�U CI�.Borrowa shW p�!when due�he priacip�l ot��nd intercst on.�ho dtbt --
<br /> . 1 1.hy h1�clPd
<br /> ertdpiced by th�Note and ute clw�es duo unda the Nwe.
<br /> • 1 =�M�W�h�n ot Taa.lar�a�d 01Mt C�a�.Borrowa shW include in euh monthly pAyment.to�ether with
<br /> • �'? • ° the pdedp�l and interat u�et tonh in tha Note and�nY late chaQcs,�n instaliment ot anY la)taes and speci�l assea�ments
<br /> . ° • , levied or to be IeWed�slnst the ProperiY,(b)Iwehold p+irin�uu°r 4round renu on Ihe PropercY.�nd(e) prernlums tor ______�
<br /> .� ��+':r .• • luururc�nquirsd by Puyraph 1. _
<br /> � "`;�" Buh mont6ly lnst�llment for item�(al.(b)and(c):hdl equol onrtweifth of tha annud amount:,as reawn�bly astim�ted bv ,
<br /> ,,,.�.� � , Lender�p1us m unount iufAcient to mdntain an addiUonwl b�laace oi not moa th�n ona•�hcth of thc esUmatcd uaountc.The � __.- - --
<br /> ��' NU�nnwl�n►auat tor ach item�hdl be�ccumulRted by Lender within a perlad endin4 one month beforo an itea►would
<br /> , � become deRnquent.Lender�hdl hold the amount�coQected in trun to p�y items(�),(b)and(c)beforo they baome deAnquent.
<br />�;,:':�.;� ��" � !t at any time tha total oi the pAyments hold by Lender for items(a).(b).and(c),toQe�her with the future monthly pnymcnt�
<br /> ',�"� � �• for tuch items paYable to Lender prior to the due d�ta of:uch itertu.acceedi by morc th�n one•sixth Iha aUmRted wnounl of -
<br /> • p�ymenu requlred to pay such items when due,aad if payments on the Nae ue cunent,then Lender ahaU eithe�refund tbe -:��„�_�
<br /> ' � � aces�ova one-sixth of Ihe estimated paymenu or credit the euass over one•:f�th of the esdmated pnyments lo subsequent ,�' ,,,�,ra►�n.r^-°---
<br /> �•4.� p�ymenu by BoROwer.at the option of Bonower.I f t he total oP the payments madc by Borrower for item(s),(b),or(c)ie �.��`�__���:'�`'-�'°-:_______
<br /> • � Inwiftcient to p�y the item when due,then Bozrower�h�U p�y to Lender w►y omount n�rY to make up tbe deficiency on o� _ =
<br /> �� beforo the date the item bacoma due.
<br /> �� ��'�' I�t uaed in this Secudty lostrument."Secretary• meaes tAe SecretuY of HousM�and U�ban Developmeat or Ais or der
<br /> . � ' ���• desl4nee.Most Seeudty lattnuaents insured bY 1he Secretuy ue insured uader proara�as�luch requirc adrance p�Ymrnt of Ihe - ;
<br /> • mtire moRQaae insurRna premium.lf tAi�Sectuity Ittswment is oT was insured under a pro�am wAicb did not require advance --- -
<br /> � , . �_ p�yment of t�e eotire mort�e iasunace premium�thm eACh mMth1Y P�Y���shall also include eitder:(il s�n inst�llmmt ot the ' c�=
<br /> �. �, 1` uinwl mon�a�e i�wuaooe D*emium to be Qaid by Leader w the SecrctuY. or(ii)a monthly charge inuead of s�mon�e ��ti,,.,,.'^,.:!'N°i�''"'�`"�n
<br /> • •. { � ' i n su r u�ce p r e m i u m i P t h i s S e c u d t y I n s t r u m e n t b d e l d b y i fi e S e c ro s u y.�a c h m o n thl y instaUment af t3�r mons�ge insnrance �^` •,, ,;, ��_
<br /> • p�emium s1w11 be in w anwuat suificlent to accumulate tfie fuU anntwl mongage insurance premium with Lender one mant h • . .,,'��!�'�•'=i;-
<br /> p�emi � ,, �%�:_._-.
<br /> " � priar to the date the iull�u►aua)mortgage insurance premium is due to the Secretuyr.or is Ihis Security lnstrument is held by�he �''�t:':� �..;.�' "
<br /> ' � • Secreiary,each monthly clwrQe shall be ia an amount equul to one-twelfth oi�one•halS percent of the ouatandinB pTdncipal n•}� :\`r�^' •^'-___
<br /> ��--
<br /> . , balaace due oo the Note. `•=��`������
<br /> `_=�.-t�-�-•='�'�-�.d.
<br /> � � � ' IP Borrower tenden to Leader the full pa y-ment of aU sums secured by this Secu�ity Inslrument.Borrower's account shsJl be -` ��y' �v�—
<br /> ,� 1.
<br /> credited �d!!:the 6alance remainina for alo installments for items (wl, t'bD �d (c) and any mortgage insurance premium �„�„�,,,i �__
<br /> �.,�.'.,:�;.,, instdlment thu Lender haa not become obUgated to pay to the Secretary,and Lender ahall prompdy refund any exces.+funds to �.�¢;;�r�•;--__ _
<br /> Pro rt or Its ac ui�idon by l.ender, Horrower's aceount shaU be �-_--�'1 � `
<br /> ;;5,;r;': . . Borrower. Immediately pdor to a forcclosure sak of Ihs pe Y Q -------'��-
<br /> credited with any b�lana rcmdnin4 for all instwllments far item�(a)�(b)ind(c). ,;;�=:;°.-n,�,
<br /> 3.AppYcatiw�ot Parwe�b.AU paymen[s under pangraphs 1 and 2 shell be appUed by Lendcr as followc: " f , �
<br /> � �'; �
<br /> ._;;.� �g�,ta tbe mort�e inaurance premium to be paid by Lender to Ihe Secretary or to the monthly charee by the Secretary
<br /> �4�`f1('
<br /> . . ;;,i . IR�esd of!he tlsontlsly e►ortEage insurance utemium.unieas Bottower pald the mN�e mort�aQe insurance premium when ihis �- �-�•-�-+ �
<br /> a
<br /> ��--< _-.-`.;�'�
<br /> Secudty Instrument waa signed; �:,•�..:'
<br /> '"i,'., � • . - ' +3 C� OND�to any taxes.apecial osussmeats,leasehold paymeats or ground rents.and f1rc,flood and ather haxard lnaureece .,.. � �
<br /> . . .;�::„ .. �
<br /> `.���. • ;°:.,•;�� . premiums.as requircd: �:�: ,'"''�:�.
<br /> ` t;r��;�,:'.• ���,��•'k�1
<br /> �; �_.:�,;: •� � � .to interat due under the Note; ,;,��� (���S
<br /> ' ��'"" �•�;r�., �O�U'�T ,to smonization ot the pdncipaf of�he Note;
<br /> .��� �.�`r L.. .S`x ` ,c
<br /> � , ' •;�'%.�� ,,,. �['ji.to Iste chorQa due under the Note. • �
<br /> • ', ' ,r,.;;f!{\``+,: ., _. �•Cti :�;•.'
<br /> ';5 �'' 1,Fin�Flood�nd Otber H�nrd lunn�ce.Borrower aheU insure all improvements on the Propeny,whether now in existmce -�.`:'•,;c o��
<br /> , 'f;:,j;1'' : -
<br /> � .. or:ubsequantly erected.againat any hazerds,cosualties,and contingencies,including tire,tor which Lender requires insurance. �:_;� �.;.o:�-.
<br /> • ' ' This inaurana shall be maintained in the amounta and for the periods that Lender requires. Borrower shall alao insure all
<br /> �. , Improvements on the Property,wMether now in aciatence or subsequently erected,agalnst loss by flaods to the extent required by i , .
<br /> •� • • the gecretary.All insurance shall be carrfed with wmpania approved by Lender.The insurance policies and ony renewala�haU l ,�,. . ,;; ,_
<br /> �� " be held by Lender and shall include loss payAble clouses in favor of.And in n form acceptAbk to,Lender. �.•-��- •--`--_
<br /> �: ,......�
<br /> '" ' ' la the event of lou,Borrower shall give Lcnder lmmedfate notke by mail.Lender may make proof of loss if not made prompt• , -=---_
<br /> f� . `;;;�.,
<br /> ' '' ly by Borrower.Each insurana company concemed is hercby authoriud and directed to make payment for such loss directly to ,,
<br /> � {• . Leader,fnstead of to Bortower and to Lender jointly.AU or ony part of the insurance proceeds mey be applied by Lender,at its ; ,� -
<br /> , ;, � � • • option.either(a)to the reduction of the indebtednas under the Note and thie Securlty Instrument, flrst to any delinquent � •;•, .,�,, ; �%���-
<br /> . • :. � amounta applkd in the urder in Paragraph 3,and then ro prepAyment of principal,or(b)to the restoratfon or repair of the �' "� °�•��."•=-• _
<br /> � ,r,�:=•
<br /> �,,�•� :,1� • • dam�ed propeny.Any application of the pracads to the principal shall not extend or postpone tho due date of the monthly ..•'s..�i_
<br /> • � •,;i.. payments whlch are refened to!n Paragruph 2,or change the amount of such payments.Any excess insurance praceeds over an � ,,..W... .
<br /> wnount rcquired to ps►y all out�tondinQ indebtedness under the Note and thi�Secudty Inatrument shnll be paid to the en�ity le�al• �
<br /> " ly rntided chereto. ..
<br /> ' " In the event of foreclosure of this Security lnstrument or other transkr of tide to the Propeny Ihat extinguisha the in• i • - __=-�`
<br /> ' , tis • -•- w
<br /> . .� .
<br /> debtednas.all rfQht,tide ond interest of Bortower in and to insurance policia in force shall pass to the purchaser. ( -.,,'�-
<br /> � � � � S, pn�tlon md M�lokouce ot I6e Property. I.eafe6old�. Borrowee shall not commit waste or destroy. dunage or ; • -
<br /> ' substandally change the Property or allow the Property to detedorate,reaaoneble wear and tear excepted.Lender m�y inspec�
<br /> ���;.`'` the property iP the property is vacant or abendoned or the loan is in default. Lender may�ake reasonable act(on to protect and
<br /> .'(�i„' praerve such vacant or abandoned property.If this Security Instrument is on a leasehold,Borrower shall comply with the provi- � , , ,
<br /> .,%:,w,• sions of the lease. If Borcower ncquires fa title to the Property.the Ieasehoid and fee tltle shall not be mer�ed unlas Lrnder . •,:,.;�
<br /> f ��1'.. ,'�.,
<br /> ,�i. , w�ees to ihe merQer in wdtina. � ,
<br /> si'. ,
<br /> • '.,�?,;1. ,
<br /> 1;;�,: ` 6.Cbu�a to Bormwer�ad Pro�ecqon of Lender•�Ri�hla In the PropertY.Borrower shail pay all governmentel or municipal ,� .:
<br /> ;�,+•��: chorQes,tina and fmpasiaians that are not included in Paragraph 2. Borrower shall pay these ubligations on Ume dircctly to tNe
<br /> entity which Is owed cht payment.If failure to pay woulr!ndversely atfect Lender's interest in the Property,upon l.ender's ra :�t
<br /> , ������� quat Borrower sh�ll promptly furnlyA to�ender recr�pts e�ndencing these payments. • �
<br /> ' I[Borrower iails to make these pa;rrr.enzs or the payments tequired bY paragraph 2,or feils to perfocm any o�her covenantsand � .
<br /> `•,,�; ,:'' agteemrnts contained ia this 5ecurity Instrument,or Ihero is a legai�piaceeding thal may signlFicanzly afPect Lender's rights in
<br /> , '•, , the Propeny(such as a proceeding in hunkruytcy.Ysr condemrtation or to enforce Inws or reguletions),then Lender may do and
<br /> i •: , � � �� },;.;''''�� pay whatever is nececsarY to prottct the va6La ot Ihe Prorevty and Lender's rights in the Propeny,includin�payment oP taxes.
<br /> � ' huud fnsurance and oiher items mentionsd ro Parag:a�+h 2.
<br />' • .'i:� .._�_u��.��� ...1dt�i....el.i�6�nf Mrrnur�r wnd he t[CU�tJ IIY tFt[5
<br /> :�.---':_-:_ .,.
<br />' � Any amounts disbursea oy iendcr under�i�u Fe�a��aN.����a....---.-�-"---...-..- ---• -• --
<br /> �� Security Instrument. These artoencs sha::Q+e�r interat from the d�te of disbursement,at the Note rate,and ot tlrc option o�
<br />' • � Lender,shall be immediately due and Payable.
<br /> ' r eouUo�.The roceeds of any award or ctaim[or damages,direct or consequential,in connectiun vr�rn:uiy condem•
<br /> 7.Co d P
<br /> •i ed�ttd shdl
<br /> be
<br /> A e n
<br /> II n�tion or other taklnQ of any part of the Property,or Fur conveyance in place oicondemnation,are here y u �
<br />� paid tu Lender to the extent oi the fuU amoun�of che iadebtcdness that remains unpafd under the Vote aed�his Secun�y Instru•
<br />� men�. Lrnder shall apply such proceeds ro rne reduct�on ot the indebtedness under the Note and rhis Secunty Ins�rurnent,tirst to
<br /> any delinquent amounts applled in the order prohded�n ParaRraph l,and then to prepayment of�r�nc�pal.Any applicntion of
<br /> the praeeds to the principal shall no� ^_xcend or (w<rpone the due dnte oi the monthly paymaus, which are referred io in
<br /> Puagraph 2,or chanQe the amount of such paymenrs.Any excess proceeds over an umount reqwred to pay all outslandinQ in-
<br /> debtednas under the Note+u�d this Security Instrument shall be paid to the enuty legnlly entflled thereto.
<br /> t.Fea.Lender may collect fees and charges authorized by the Secretary.
<br /> Poge 1 aj�
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