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<br />( - ��`�• 1.Psyment a!Prtmctpxl,lntNreat�ad I.pta Ct�wrga,klorrowcr stinll�1ay�vher du�Ihe ptincip�l af,and intcrc�t ol+. Ih�debt .�� � � ,i -
<br />`�. '. ' cvidcnccd by thc Notc and Inec chnrgca duo�mdc:!hc Noto, `� -- �^-�
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<br /> ��r o. �� , ., ��.;�ii..=-R:_
<br /> ,�--. .� �,141out4�P�yatput9 o�'faac��Ineu►��ub end nther Chrr�e�.Rurrower ehall Inalude tn each inunthly pnyment,together wl�h • - -->.:,,�r:-=;
<br /> �� ��' tho princlpnl uncl lnterest aa set torth In tho Note nnd any late cl�arQea,nn InstnllineiU uf any(e)taxcs nnd spectul asscssntente _- .. _ _�°��_=_
<br /> -`�°'--- -�--�� Ievkd ar to ba levied n;+�...�n,t thc Prope�ty, (b?lcnsrhold payntems or ground rents on thc Pra(.+er�y,oud(c)prcmium9 fur _._ _
<br /> " -' insuranca re9uired hy Pa��,9rag1►4.
<br /> � 1 � s,nch muu�i�,�Gu:�tt�aattt far it�m�(al.tb)�nd(c):ha!!; u�!ont tr,�etfth uf thc anr.v�!qm���+���a,aa ven.connb{y eatltttated bv �� �'" ^
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<br /> r I�ender,pA�s an nmount sufAcient tu mutnta ln nn a d d it iona l a iance o f no t moro thnn une•51xtA ut'the estinstcd amounts.Ths � , -� -- ---�- -
<br /> n fuU nnrtual nmuunt for anch Item ehnll be accumulnted by 4cnder withto a pcdrd ending nne montn before�n Item woutd .•
<br /> �` ;' ,. become dclinquent.Lender ehnll hatd the amounts coltccted fn truat to poy Items(p),(b)and(c)before thoy bect�me�teQni�uent. ,
<br /> It at any ttmc tha total oP tho pnymcnts hctd by I.cnder For items(n),(b),nnd(c�,together wUh thc fwure manthly pnYmente � +t �
<br /> ` for such ttcm9 ppyablo tn l.cudcr prlor to�ho dav ctatcs of such Itcros,excccds Dy morc thun anc•sixth thc esUmntrA ua�o�m�c�t • �
<br /> paymcnts re�ui�cd ta p3y such(tem�when due,and ii'��ayments on tho Nate nre cu�rcnt,thcn Lcndcr ehall ellher�ehu�d tt�a �
<br /> � cxccss ovcr one-slxth of the cstimnted payments or crcdh Ihs exccss aver one•slxth��P the estimatccl pnvriunla tn eahte.uent „ • ,
<br /> paymcnts by parrowcr,�t tho option of Etorrower. It the tatal af tho paymenls mnde by�lnrrnwer for Itrm(01,(hf�or�c1 1t ,,
<br /> � ins�ifiiclent to tx+v tha Item when due,then Horrowcr shall pqy ta 4ender�nY ama��nt neccssa�Y ta mAke up tho cieficlenca�m��r ,_
<br /> _._____ ._ ..___. . '
<br /> beforo tho datc thc item bccames dua � ' -�-�- ��-
<br /> Aa uscd in thls Sccucity lnstrument. "Sccrctc�ry'� mean9 thc Secretn�y of Nausl� �nd U�bn��c�rol�pment ar I�b i�r h�r .
<br /> ' � des�qnca.MOSt Secu��lty Instctuncnts Insurcd by th�Secrct�►ry sro ins►trcd►mde�pt�gmm�wtdch rcq�dre�dv�nce pe�ment of tNe . .
<br />- • � enttre morigagc Insurnnce prendum.ff'this Securlry Iost�umem iy or�vas ineured�mder c�p►ogrnm which did nm req�dr�ndvAnce .
<br /> ' paymcnt of thc cntire mnrtgage insurance prcmium,then each mt►�u1��Y 4�.nym��t et�all nls�Inclado elthrr;(h nn in�tnllmcnt aP tho .
<br /> � ��oua) mortgaga lnsuranco prcmium to he rAtd by l.ender ta tho Scc�ctar�� ar (fi)m m�ntf�ly chnrgo lu�t��d ai a mo��tBuE� � , �
<br /><,�. , � Insurnnce premium ii this Sccurity Inslrume�ii is hold by tho Secrczarg. Fmrh m�nihlY Instnitment of the mattgoge insurnnco , '
<br /> ,; pren�ium ahnll be In r�n amaunt sufficirnt tc►acciimalato thv fuU annat�l martga�G Insurance premium with Lende�one month l
<br /> • pslar to the dato Ihe full nnnual mart8nge insur�n�:e rrcmfum is dao tu�hr Srcrotc�ry,or ii this Secu�ity lnstrumcn�is hrld by thc i 5��
<br /> � ' ' SecretH�y,ench monthly chnrge yhnll bo in nn amaunt equnt M ane�t«�altlh ot onaht�li percent of the outstunding principal ! ��`�
<br /> " ,.,,�i�:: balnnce duo an thc Notc. ! " '
<br /> .•��.
<br />' ]i Aurrawer tendc�s to l.cnder the Pull pAyment oi nll sum�secured by�his Security lnsaumcnt,Borrower's account shs►11 be j •.�+1�`,.' • '
<br /> •• crcriited with tho balance remntning for nll instnlimenta for items (a). (b� nnd (c) And any mortgnge Insurnnce premlum t `,,';:; ,;. • ,
<br /> � • installment that 4ender hns nos becomo ablignted to puy to the Sec�etary,And Lender shnii pramptly reiund tu►Y exces9 funds to , . . , � _
<br /> Rotto�vcr. Immediatcly prior to a forcclasuro sale uf the Propc�ty or its acqulsition by Lcndcr. Barro���er'a nccount ahnil bc . ;,`.'��:;° � . _
<br /> crcditcd with any bulanco rcmafning for all in9tnlimcnts for itcma(n),(b)and(c). ` �•: °�I
<br /> f ' ., ,_
<br /> 3�Appltc�tion ot P�yments.All peyments undcr psu�grapha 1 and 2 shnll bo applled by Lender c�.s foUows: ; • , ,4
<br /> �' �,g„�a,ta tho mortgaBa Insurance premiom to ba pald by Lender to the Secretary or to tho month{y ch�rge by the Secrotary ; • , • ,
<br /> instea d a f t he mon t h l y m o r t g a g e i n s u r a nce premium,unlcsa Borrower paid the entlre mortgage insurance p�emium when thls � � ,��:
<br /> � � � Sceurity Inatrumcnt wus slgned; �,..;
<br /> . Cg��,to nny tnxes,apecla!aasessmente,��nsahotd pnymentR ar ground ronta,and fire,flood and ather htuttrd insu�ance ,,�,
<br /> > �Sresnlums,as s=qulsed: � �
<br /> _ t_•
<br /> �to interest due under tho Nntai � ` '
<br /> � �,oU ,to amonizudon of tho prtncipnl of tho Nate; � . `�',
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<br /> �(�,to lato charges due undor thc Nota. r ��"
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<br /> -- � 4.F1ra,Flau�ne�f Othsr Hruard la9arsnce�Bart�wu qhall insu�e all fmprovements on the Propeny.whethcr now in exisiencc ; -- p.,;
<br /> or subsequently ereeted.Against nny hivards,easualties,and contingencies,including flre,for which Lender requi�es insuranee. �
<br /> Thu insurance shull be maintained In tho nmounts and fo�ihe periods that L.ender requires. Borrower shall also insuro nll �
<br /> improvcments on tho Property,whether now In exlstence or subsequently ercctcd,against loss by flooda to the extent required by . ,
<br />� � tho Secrctary.All inauranco shall bo car�ied wieh campunies npproved by l.endor. The insurunce pollcics and any�enewnis shall . �
<br /> bo held by Lendor c►nd shall include loss payable cl�uacs in favor oi,nnd In a form ucceptable to,Lender,
<br /> � In tho ovent of lass,�orrowcr shall give Lenclar im�nedl�te notice by m�ll.Lcnder may mnkc prooP ai loss Ii nat mnde prampt•
<br /> � • � ly by Horrower.Bttch insutnnca com�uny conec�ned is hereby autharized nnd dlrected to mnke payment for st►ch loss directly to .
<br /> ' , � �'' '' l.andar,insteud af to Bonower t►nd to 4ender Jointly.AU or�ny pnn of the insurance proceeda may be applicd by 4ende�,at Ita
<br /> , '�'��,•'i:`,:,;r�'�';� 1� aptlon�either (a)to tha�educibn oP the indebtedness undes ine Note�nd this Security lnstrument,firet ta uny dclinauent
<br /> � � � amounta appNed ie►the order in �aragrnph 3,and then to prcpayment af�rincipal, ar(b)to thc restor�don or rcpulr uf the ! �
<br /> � , �. damaged prope�ty. Any applicaiian of the proceeds ta the princlpal ehall nat extend or postponc the due date oi thc monthly . ,'..�
<br /> ' payments which�re toPerred to in Paragrt�ph 2,or change the amaunt oP such pnymente.Any excess(neur�nec proceed9 over un ,
<br /> . amount requlred to pny ull outctanding indebtedness under the Notc and thla Security Instrument shaQ bc p�id to thc endty legal- ,
<br /> ly cntiticd thereta. � ', -
<br /> ln the event of forcclosu�e oE:d�is Secudty Inst�ument vr�*;hu trnnsfer of tltle to the F�apcny thAt extingulahes the in•
<br /> debtednes9,nll�ight,title and lnterest of Borrawer in nnd co i�surance policles in tarce shaU pa9e to the purchnser. ''
<br /> �. Preserv�pon wnd MaintenAnce ol Ihe i�es��rray. IRa9edolds. Harrower ahall not cammit waste or destroy, damage or ,
<br /> ' substentiaUy change thc Aroperty ar Allow the Pc�i�rrty to dMerioratc,rcasonable wear and teur excepted.Lendor may inspect
<br /> ,,, ; . the praperty if the propeny is vacant o�nband�nr�i er t�e�a;tr.Sa!n default. 4ender mAy tako reasonable acdon to protect und
<br /> preseevn such vACant or abandoned propenY.if t"rSa Securir.x p�c;�vment is on a Ic�schold,Bor�awer shall comply with the pravl•
<br /> slons of the leaso. If Borrower acqulres fce[ictP�o the Pr:;�en�,lhe Ieasehuld nnd fea Utle shull not be merged unless Lender
<br /> ;. �' i •,�`.��' : ugrees to the xaer�:r in �vtiiing.
<br /> 6.Ghuges to BaROwer and 1'�otectfon o41�er�flar's�'.g'�'�ia the Praperty.Borrower shall pny all governmentel or manlclpal
<br /> • ' • charges,fines und impositions chat are not included in Parn3Taph 2.Darrower shall pay these obligations an time directly lo the
<br /> • entity which is owed the payment,iP Pailure ta pay«o^:',�a3��c�sely nficct Lender'e inte�est in the P��perty,upan 4ender's re•
<br /> _ � . �'''" , :� quest Aorrutiver shall promptly i�+rnish to Lender recc�c:s e�id.encinn theso payments.
<br /> � �� � { li Borrower fails to makc thesc paymcnis or ihe�ayir:enis required by Fnragraph 2,or falis io p�rfo�m any oth2r cav.nants and
<br />- agreements caneained in this Securlty Instrurr.enc,ut�here is a legal proceeding that may signiGcanQy af6ect Lender's rights in
<br />-_ tho Property(sucb ps a proaeeding in bunluupuy,fot condemnatlon or to cnforce laws or rc�aSp:ions),ihen l.cader may do And
<br /> pay whatever is necessary�o protect the value of the Prape�ty and 4endeYs rights in the Properly,including pAyment of tFUtCS,
<br /> ha:ard insutance and othcr items mentioned in Paragraph 2.
<br /> Any nmounta disbursed by lendcr under�his Paragraph shall becomc nn additional debt of aorrower and be sccured by this
<br /> Security Inst�ument.T1�ese amounts shall Uear interest from thc datc of disbursement,nt the Note rate,and t�t the option of
<br /> Lender,shull be immediately due nnd payablc,
<br /> 7.Condemoatlon.The proceeds oP t�ny awnrd or claim for damages,direct or consequcntinl,in cannection with any candem•
<br /> natian or other taking ai nny part of the Property,or Por conveyance In pince of condemnation,are hereby assi�ned And sholl bc
<br /> pald to Lender to the cxtent of thc full umaunt of the indebtcdncss that remnln9 unpald under thc Notc a�d this Sccurity Instru•
<br /> ment.I.ender shall apply such praceeds to the reduction of the indebtedness under the Note i+nd thls Security Ins�rument,first to
<br /> c►ny deUnquent amaunts appiied in the order provided in Pnrugraph 3,and then to prepnyment oi nrincipal.Any npplication of
<br /> tho procceds to the principal shal) not extend or posipone the due date oi ihe monthly payments,�vhich cue rei'erred to in
<br /> Paragraph Z,or change the amoun�oi such paymems.Any excess procceds over fln amount required to pay ull��utstunding in-
<br /> � • dcbtcdncse under thc Notc and this 5ecurity Instrument shall ba pAid ta thc cntity Icgally cnUticd thcreto.
<br /> � 8.�ets. Lender mny collect fces nnd charges authorized by Iho Secretary.
<br /> , Pap.e 1 r�!1
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