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<br /> 93. �o:��.i
<br /> �. �'�.t P�i.ci�.�.,.W+MC..d[ut.cd.eg.. eorrowr.b.�,�qy,�ian due�be,�ip�l ot�.ad�aa�t�a
<br /> _---`--_- ..-� Ct;3�sa�k r3r tlsa!';�:o ai3 t,�w���:s c�a u�tdcr dta Dtox. �
<br /> �. �71�7���71�aoa�I�MCa�d Otbe'CM�. &xrower sh�ll Include tn�ach monthly PrY�+
<br /> tojqA�whh the pincip�!�nd iMenaA u�et fath in tho IVooe a�d my I��te ch�rQo��ui GuWlmcnt of�r►y(a)tua�nd
<br /> �pecid�resm�arts bvkd ar to be lavied a��inut the Property.(b)Iwehold p�y�r�a or Qmund r�aus on the Piropmty.and
<br /> (c)Promiums tar insur�ct tequi►ed b!'p�r�4.
<br /> F.*ch monUily imtallmont for items (�). (b)�nd(c)�hall oqwl one-twelflh oP the u�rrod�mounw, �s nenonrbly
<br /> °_-� -- e�inated i►y I,pde�� as m 4�um suffkkn� to maintoin on wWitlo�wl b�ltu�cc a! not morc tiwr� anc-sdxth of the
<br /> e�tim�ted urioun�. � tWl�nnw!�mount[or each item shdl 6e eccum�dued by I.ender within�period endln�aee
<br /> manth beforo+u�item wa�W b�ecoir�a delinquent. I.�ender�hdl hold the anw�u�a collected in aust to p�y itaru(�)�(b)and
<br /> (o)bel'ao lhay 6�cmx delirquent.
<br /> If u�ny tlme the wta!of tha pwyments held by I..ender far items(y.lb)�nd(e).togethor wf�h�lie fuwro monlhly
<br /> pqn�ent�for such items p�y+ibb to Lender prior w the due date�of nuch iams,exceeds by moro'�h�a a�e-siath the
<br /> e�drt�ttod unount of piyments requiu�ed top�y such itema when due,and if pa menls on the Note aro curten��ha�Lender
<br /> - sholl eitha refiuid thc oxcaas ave�ora•slxth of the estlmated peyments or�t the excess over one-sixth of the estimated
<br /> paymenta to eub�equent pnymenta by sonuwer.at the opdon of Botrower. !f the wul of the paymentc m�de by Borrower
<br /> for ilem(o).lb).or(c)is insuflicieet w pay the item when due,ll�Bamwer shWl pay b Lender any amount necessary w
<br /> m�ke up Ihe deficieacy on ot befarc the d�tc 1he itetn becomes due.
<br /> As uced in this Secunty Insaument."Senet�uyr"mewis the Secrctary of Housing and Urb�n DevelopaKr�t ar his ar IKr
<br /> designa. Io nny year in wldeh tNc Lender must p�y a mongagc iasuranoe q+emium to the Socretary.each monthly p�yment
<br /> slnll also inolude eithcr. (i) an instdiment of the Annual mo�tgage insunu�ce p�emium to be psid by Ler�r to the
<br /> Secretary,ar(ii)a manthly chuge i�stoad of a mongage insurance p�mium if thia Securiry Instrument is held by the
<br /> - Secntary. Each monthly insuillment of the mortgage insurance premium shall be in en amonnt sufficient to accutnul�te ihe
<br /> -- - — fuU Annwi mangage insurance p�miu�u with Lender ane rnonttspnas to thc datc the futi am�u� martgagr inswsmrc
<br /> y;;. pnmium is due to the Sec�et�ry:or if this Security Inswment is held by the Sec�etary.each monthly charge sluull be in an
<br /> -- amau�t oqual to one-twelRh of one-haif pereent af the outstanding principal balanc�due on Ihe Note.
<br />;:� If Barower tenders to Len�ler the full payment of�II sums secwed by this Sccu�iry Insaumen�BotTawer�s account
<br /> -,,• sh�ll ba credited with the balAnce remuining for all installments for items(a),(b)and (c) su� :+�ay mongage insuranco
<br /> ,;�.: premium instaUment that I.ender has nat bacome obligated ta pay to the Secretary.and Lender xnull promptly r�tWr►d an
<br />� �i axcess fund:��o Bumawcr. lmmediately prior to a foreclosure sale of�hc Property or its tcquieition by Lendor�HoROwet�
<br />� .a aaaant sludl be credited with any balance rcmaining for all instoliments for items(a).(b)and(c). _
<br /> _ 3. Applkatlon ot Pr�ymenta All payments under Paragrnphs I and 2 shall be applied by Lender as follows:
<br /> QgS:�.to the martgage msurance premium to be paid by Lender to the Secretary or to the monthly charge by Ihe
<br /> V� Secre instead of the monihly mortguge insurance prernium;
<br />:�';_.� �E'�,ro any taxes.special avsessments,leaschold payments or ground rents.and tire,flood and ather haza�l
<br /> �!'! insurance premiums,asrcq uircd; '
<br />::°-��'` �,to intercat due under tho Note;
<br /> ' . • � Fot�rH.to amortization of the principal of the Note;
<br /> . �`.�''��,,r�`..� �j,to late charges due under�he Note.
<br />`,.'a��„ •1 .;,�,>i 4. �re,�'Wod antl Other Hazurd Ineurance. Borrower shall insune all improvements on ihe Property,whether now
<br /> ....�;, , �;�!';-;� i n e x i s t e n c e o r s u b s eq u e n d y e r e c t e d,aga i n s t n n y h c i z a n d s,c a s u n l t i e s,a n d c o n d n g e n c i e s,i n c l u d i n g f i r e,f o r w h i c h I.e n d e r
<br /> ' °��'.�'=� •�.�`°�'�^ uires insumnce. This insurance shall be maintuined in the umounts nnd for the periods thal Lender requires. Borrower
<br /> �"•„r.•..:�_,:,!;>f�. R9
<br /> , ,i�t shall also insure all improvemenl�on the HnpeRy,whether now in existence or subsequently erected,ageinst loss by tloods
<br />'.�'' •-��'" to the extent rcqui�+ed by the Secretary All insurance shall be carrfed with companies approved by Lender. The insurance
<br /> " �' ., i;:T•,i•r._r�� ` policies and any r�enewals shall 6e held by Lender ond shs�ll include loss pnyabie clauses in favor of, und in a farm
<br /> " ' aoceptable to,Lender.
<br /> �� ��' •�•��- ..�r;:, In the event of loss, Borrower shall give L.ender immediutc notice by mail. l.ender may mnke proof of loss if not
<br /> ����� i a �`'•�� made promptly by Borrower. Eoch inRUrance company concemed is heneby authariud and directed to mnke puyment for
<br /> '!S� �•.;�.��.».,�, ,.,
<br /> '-;.-- -• �!•'.'� such loss directly to Lender,instead of to Borrower and to Lender jointly. All or uny pan of the insurance proceeds muy be
<br /> �•.... `�; .
<br /> :•�'-9Ma��-�-. „• :.r(�.
<br /> � „��,,..,.., ..,, ,.;�.s appNed by Lender,ut i�s option,either(a)to the reductior�of the indebtedness under the Note and this Security[nsuvment,
<br /> , r,�,y�,�,,�, . .•,�r fiBt to any delin�uent amounts npplied in the order in Pumgmph 3, and then to prepayment of principal,ur(b) to thc
<br /> ��;:•,,;, restoration or repwr of the damaged propeny. Any upplication of the proceeds to the principul shull not extend or postpone
<br /> I�'��"•• �'�"�.'4i� � �-'•g"•;:'�±� the due date of the monthly payments which�ue referred�o in Purugraph 2,or change the amount of such pnyments. Any
<br /> •;�`�"••'�• °��,+�rri��!•� excess insurance proceeds ovet an umount required to puy all outFtanding indebtedness under the Note nnd this Security
<br /> •.���' �,��);�.�k�!� Inswment shall be paid lo ihe entity legally entitled thereto.
<br /> ;� - In tho event of foreclosure of this Security Ingtrument cir other�runsfer of litle io the Property that extinguishes the
<br /> "�;'`° � indebtedness,all risht,title and interest of Borrower in;md�o insur.►nce policies in foree shall pa.es ro the punhaser.
<br /> " '._.;.�.,.•.�....: S. Occupancy, Preservation. Maintenonce and Protection of the Property; Borrower's l.oaa Applicatton;
<br />�� '-"� [.caseholds. Bomower shall occu establish, and use the Pro n us Bormwer's rinci t rosidence within sizt da s
<br /> .. • `�'"`•.�S • ��'t�� PY• P� Y P P� Y Y
<br /> � afler the execution of this Security Inxtrument nnd shull continue to occupy the Pmperty us Barower's principal residence
<br />°�=� �- � ' . for at least onr.year ufter the dute of occupancy,unless the Secretary determines this rcyuirement will cause undue hardship _
<br /> -:; 'p��..,'':.''f� � fm B�rrower, or unless ex�enuating circunistnnces exiFt which ure Ueyand Harrower's control. Borrower shall notify _
<br /> �r+'• ;k�,,�', ,� Lenders of any extenuating circumstnnces. Borrower shall not cornmi► wuti�e or destroy,dumage or subs�antially change
<br /> � � �yp�:-°•'• the Prope�ty or nllow the Property to deteriorute.reuxonuble wear und te�r excepted. Lender muy inspect the Property if the
<br />- • PrupeRy is vacant or ubandoned or the loun is in default. Lender may talce reusonuBle uction to protect nnd preserve such �
<br /> • 'µ.� _ � vacont or xbandoned Propeny. Borrowcr shall ulso be in dcfault if Borrowcr.during thc lonn upplicution process,gave ;-
<br /> � ' " • R mntcriallv false or inaccumte informution or stutement� �o Lender (��r I'uileJ Ici pmviJe Lcnder with nny materiul N.
<br /> �'�� � information)in connectian with the lonn evidenced by the Note,including,but not limiird tu,representations conceming �
<br /> •;��;�. �
<br /> , gortower�occupancy of the Property uc u principal residenrc. If�his Security Mctrumern i,on u leasehold,Borrower shull �-
<br />_ 1ta r�; comply wilh the provisions of�he leas�. IF Borrower ucquirc�fcc �itle to the Pro�x rly, the kasehold ond fee title+hall nw �
<br /> • ��'�r• ' be mer ged unless Lender a grces ro thc mcr gcr in writin g.
<br /> ;�;;; .. .. ;;,.:;5; 6_ Charges to 8orrower And ProtecNon of Lender's Itighis io the Property. Borrow�er shall pay all governmentul
<br /> ''•';���,� or municipa]chergea,�nes and impositions that are nnt included in Purasruph 3. Horrower tihnll pay Ihese obligu�ions on
<br /> ;.",� :• . . .f�+:i;::•:�
<br />_ . •�.•,t,•� time direcUy to�he emiry which is owed the paymem, If failure to puy would advencly uffect Lender�interest in the
<br /> ;;�. :�,is.�ai�:.:::::;i�;�t Property,upon Lender's reyuest Borrower shull promptly fumish to Lendcr rereip�s rvidenring�hese payments.
<br /> • ;;`�� If 6orrower fails to muke Ihese puyments or the payments reyuired by Paragraph 2,or f'nils tn perform nny other
<br /> ''�"' covenants and aereements contoined in this Securitv Instrumem,or there is u leKnl praceedin�that may siRniGconQy oft'ect
<br />-` , y .;-T•� ' tit���;, L.ender's rights in the Property(such as u proceedin�in b;uikruptcy,for cundemnution or io enforce luws or regulations), f
<br /> '2�,�r'trhr�li, then Lencler may do and pay whatever is necessury to protect the value of N�e Propeny�nd Lcnder's rights in the Property. 4
<br /> „ irrcluding payment oi taxes,huzurd insurance++nd other items rnentiuned in 1'urugrAph 2. ;
<br /> ••�'� �,�.y�-• Y Any amo�nts disbursed by Lender under thia Para�raph shull become sui additions�l debt of Borrower and be�ecurcd
<br />" ' '�4r�KL'=.Zryki�y;�-' h this Secu�� Instrnm�nt The�p amnunta�hall Ixrflr�n�erest frnm the date oY disbunement nt thr Note rate.Tnd nt the �
<br /> - 4�^'�• �:> " option of Lender,shall be immediately duc und pay�ble. I
<br /> '-°� ';;�•J •. '� ". 7. CondemnaUon. 7Ue proceeds of nny uward or claim for damages,direct or consequential,in connection with any �
<br /> """�'� "' '�'+.r�• ': condemnation at other tnking of uny part of the Property,or for conveynnce in pluce of condemnution,are hereby ussigned j
<br /> — '`""` and shal0 be paid to i.ender tn thc extent of the full umounl of thc indebtedness that remuins unpaiJ under�he Note and this •
<br /> _ ,:,,�.....,. .,,, ..
<br /> =- :,, ,. � .: •� ..gAs.. Securi[y lnswment. Lender shall npply such proceeds to the rtduction of�he indebtedne++under the Note and�hi,Security
<br /> y' � . J4 [nstrument, first to any delinquent amounls applfed in the orcier provided in R�rugn►ph 3, and then to prepayment of '
<br /> �•;��' principal. Any upplication of 1he pmceeds to the principal shnll not extend or postpone ttie due dete of the manthly
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