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<br /> . 1.Ppy�ue�l t�f Prittclpsl,intcn�l�nd I.ete Chu�c�Hn�tuv�rcr shnll pny whcn duc ihe prmcp�ul at,and intcrest an,thc deb► �. - -
<br /> - avtdtnced hy thc Notc nn�i latc chargea duc undcr the Notc. � _
<br /> 2.Monlhly 6'�►ymcub n!Tpxea,ln�urattce qad Olher Chotaca,[latruwcr shnll Indude fn cadi maiuhly ri�ymcn4 tugcthcr�v11h ;
<br /> _ _ • the principul nnd Intereat a�set forth in�hc Note�nd a�ny�nte chu�gc�,an installmrnt uP nny(nl tnxev nnd��clal►+rsc.9msnts ! , �'
<br /> _---�---_ � Icvied or ta he lev{ed egainst thc Ptoperty. (b)lcnschatd paymrnts ot xraund re�n�on Ihe Pra�xity, and(c)premluu�s for ' ---_—_-----
<br /> �lI5Ut81tCC Ift]lt�ff(�t►y PHTd$tOph a. !
<br /> � ��ch mnnlhlY u�•1a11me,��ior iicm�(01.f o)+ut�l(c)�hnll cauul����•tv::tf:h of th:�nnuwi anm!�mv,H�MN���11xhIV PV111118�Cd ifV :
<br /> I.ender.plus an amounl sutficient to mulntaln on udditiannl bulnnce uf nut more�han one•sixth of she csfim�urd a�i�a«nts.Titie '
<br /> full annual amount for each item ahull t�e uccumulatcd bp Lendcr within a period cndinp�ne munth hcfurc uu itcm wuuld ,
<br /> bccrnne deQnqucnt.Lcnder shall hold ehe n�nounts collcctc�l in uust to pay itemo(o),tb)iind(c)before tUcy bccamc dclinqucnt. , ,
<br /> IP nt nny timc the totnl af ttte puymcnls hcld by l.eudcr for items(u),(b),and(c1,togethcr�vith thc futurc manthly paymc�ts �
<br /> far such ltems puyable t��l.ender prlar ta the due date9 oi euch item9,excecds by more thnn one•elxth the estimnted nmuunt nf� ,�
<br /> � paymcnts rc�uired ta poy s►�ch itcm�whcn duc,nnd iP paymcnis on thc Notc nrc currcnt,thcn l.cndcr shall cithcr rcfund tha
<br /> cxce3s avcr one-sixth af thc esNmnted paymcnt�or crcdU thc cxcess ovcr anc-xixth oP thc cs�imntrd paymcnta t� subscqucnt
<br /> pnymcros by Borro�var,at the option of 8orrowcr. If thc tutc+l oi tRe paymcnts mndc Gy Uorrowcr Por Itcm(a1,(b),ur(c)is
<br /> Insufficient W pay the Item whcn due,thtn Narrawer nNall pay ta Lcn�►cr auy amount n�cessary to rtus;he ap the deiicicncy on ar
<br /> before thc date the item becomcs duc.
<br /> A9 used in this Security lnstrument, "Secretary" mcans thC Secrct:try oP HotssLr�c and Urban L'TC��c:��s�nrcit vr his un c��
<br /> dcsignec.Mast Sccurlty Instrumrnu loaurcd by thc Scc�cta�y�rc insi�rcd��nder presrans whiei±«�;:cr sdYUncr b��ri*�cnc of thc
<br /> cntire mortgASc ineurnncc premium,lf this Sccurity Instrument is o���a�insurcd under a pragrcim��h:c1 did nut r��uirc advancc
<br /> Payment of the enU�e mortguga instu�ncu premium,then each monthh�nyment shull also indude eithe;:(i!a�I�stallment oP the
<br /> annual m�rtgugo Insurn�Ca pr¢mium ta be paid by l.endCr to the Secrexary, ar(ii)a manthly charce insteud of o martgiige •
<br /> insuranm pmmium if thie Security lnst�umeat is held by the Secresa:��. �ach manthly installmcnt of the monR:Lce Insuruncr
<br /> premium shall be in an amou�l sufflclant to accumul�te the fup emm�nl rnnrtgc�c,c insu�ance premlum with l.endcr��ne manth
<br /> pdat to the dnte thc full unnual mort�pga insurflnce premium Is due ta the Sccretfl��,�r i�this Sccurity Instrument is hclei by the
<br /> 5ccretcvy,euch manthly chnrge shull Ue in an amount equa!to oae-e�tirltth rf c�txe-fialf percent of Ihe��utst�ndi�te principai
<br /> balancc duc on tho Note. � '
<br /> If Borm��•er tendera to 4ender the full paymenl uf nll sums secure:t'h�ehis Secu�ity InstTUmem,Bor�awer's account shall l�r
<br /> credited with ihe balance �emalning f�r sll Instnliments Fc+r items 1n►, (b) nnd (cl and ttny mortgnge insurance premiuin
<br /> instnllmem Ihat l.ender hns not bccome obUgnted ta paY to the Sccretc�ty,i►nti Lcn�jcr ahull promptly rcfund any ex�rc�funds tc� _
<br /> Bottowcr. Immediutely rriar to a foreclosuro snle of tha P�openy ur ita u�yui��iic»by Lender,Darratiti•�r's;;��Y un<<hnll t+e �
<br /> . credltcd��ich nny balanco remalning for all 1n9tnllmenls far itcros(a1,(b)und(c*•
<br /> 3.A,pg4;nq4lon�it Aeymmts,All paymcnts unctcr paragrnphs 1 and 2 shall bc npplicd by I.endrr as follo��s: ;
<br /> F1RS�.tu thc mortgage insurnnco premium ta be pald 6y L.end.r ta the Sccrctury or to thc monthly chqrpe h�tl�e S��cetar�
<br /> Insteac9 nf the manthly monaage inaur�nce premium,unle.0 Aore��v.r�:dd Ihe entire martgoge lnsurance�rernii3m�vhen chis
<br /> Cecurity instrument wa.9 signed; `•
<br /> � SEC D,ta any taxes,spcclul asscssments,leasehold pa�n�rnts.ir hround rents,and fire,flood und other h<war�in�aran.�
<br /> - a�eiiiitint:.as rquirtd; . ..
<br /> i �,ta intere.9t duc undcr the Note; ,
<br /> � ' FOU T .,ta amortizs�tian af thc ptincipal af the lVoic;
<br /> FIFTH,to lutc churges due undt�the Note.
<br /> � A.Fi�,�laod and�lti�er Ha:aM Insurance.Borro�;es 9hnl!lnsura nll impro�ement9 on the P�apeny,whether noa�m ex�stonco °
<br /> or subsequendy erected.A$A1�191 AOy I18EA�tIS,C[ISUAIUfS�ADti C001II1BCIICIC9,includinp fire,for which l.ender reyuires insurance.
<br /> TI119 If19U(AIICa 9I1!!II bC malntained in the amounts und For the periods thnt l.ender requires. Borrower shnll also insure�U
<br /> impravcments on the Praperty,whcther naw In existenca or subsequcntly�rectcd,ngainst lass by Ooods to the extent requircd by
<br /> tho Secretury. All ineurttnco shall bc cnrricd with compnnics appraved by 4cnder.The insurance palicies and any renewuls shull
<br /> be held by l.ender and shall include lo9s payable cluuses in fnvor of,und in a farm aceeptuUle ta, Lender.
<br /> In the even�af loss,aotrower xhnil give Lender immcdiatc noticc by mail,l.ender may make prooi'of loss if not miidc prompt-
<br /> ly by Borrower.Each insurnnca campany cancerned iv hereby authorized and directed to make payment for such Ivcc directly to
<br /> lender,inatead of ta Borr�wer and to l.ender]ointly.AU or�ny part of the insurance pruceeds may be iipplicd by Lendcr,tu lts
<br /> ' ! option,eisl�eT (a)to ihe reducUon of thc indebtcdaess under�he Notc and �his Sccurity lnstrument, first to any dclinqucnt
<br /> amounts appiied in the order in Pnrt►graph 3,und then to prcpoymen►oF princlpnl,or(b)ta the restarAtian or repair of chc
<br /> damaged property. Any applicntion of the praceeds to the principal shull not exiend or pastpone ihe due dAtc of�he mrmhly
<br /> puymenta which are ceferred to in Pa�agrnph 2,or change the amount oP such payments.Any excess insurance proceeds o�cr an
<br /> � amount�equlred to��+���!1 c+utstanding.indebtedness under tho Note und this Security Instrument shull be paid to the enticy lesal•
<br /> . ly entiticd thereta.
<br /> ;�.,,' In the event of forcclasure af ihis Seaoriiy Instrumcnt u�other transfer of tiQc ta Uie Prape�ty thal extinguiches ihc in-
<br /> . debtedness,all right,title and interesc rf llurrower in c�nd to insuranco paUcies in force shall pass to the purchacer. '
<br /> . 9. PreservaNan and Maintenanco af Ihe PropsrtM, d.ensehald�. Borrower shall not cammit waste or destro�,damage or
<br /> substa�tially change the Praperty nr allow the Prrpera>>o deteriornte,reasanable wcar nnd lear excepted. Lender may inspect
<br /> the property if the ptope�ty is vacnnt ar abandoned or che loan ir in default. Lender muy Iake rcasonable action tQ protect and
<br /> preserve such vacunt or abandoned praperty.lf this Security]nstrumenl is on a Ieasehald,Aorra�ver shall comply a eth the provi-
<br /> sions of the Iease. If Horrowcr acquires(ce�itic tu ihc Praperty,�hc lcaschald and fee title shall not be mer6ed unlcss Lender
<br /> agrees�o the mcrger in wrlting.
<br /> 6.Ch�rges to 8u►rowc�wnd Protectiun af Len�er's G�i�qhts in the P�opeNy.Horrower.hall pay all governmcntal or municipal
<br /> charges,f3ncs and imposiilans tha�are not included ia Paragraph 2.Borrower shall pay thcae obligations on time diractly io the
<br /> endty which i9 o�ved the payment.!f failure to pav ti�auld ad�•e�sely affect Lender's imerest in the F'roperty,upon Lander's�e•
<br /> quest Aor.owe�shull promptly furnish ro Lender rcceipts evidencin@ thc+c paymems.
<br /> If Borrower fuils io make the+e payments��r the paymcntc reqiured by Paragraph 2,or fails to perirnn any uther cavenants and
<br /> agrcements contained in this Security Instrument,or there is ii legal procceding that may significanUy affett l.ender's rights in
<br /> the Property(such as a procaeding in bankruptcy,for condemnation ur ea enforce laws or regula�ionsl,then Lendet may da and
<br /> � pay whatever is ncccssary Io pratect the vnluc of the Proper�y and Lendcr's rights in thc Property, including p�Y�nent of taxes,
<br /> haxard insurunco und otticr ucros mcntioned in F'aragraph 2.
<br /> Any amoimts disbursed by Iender undcr this Paragraph tihall become an additional debt o1 Burrawer and he cecured by this
<br /> Security Instrument.These amounts shall bcar intcrest from the datc uf disbursement, a1 Ihe Notc rate,and at thc apcian uf
<br /> Lender,shall be immcdimcly Jue and payable.
<br /> 1.Condemnatlon.Thc procecds uf:in>•awerd or claim fc�r damagcs,dircct or ronsequcatial,m c�mnecuun��iih anY�undcm-
<br /> nation or other tuking oi nny pan oP thc F'roperty,ur lor convcyancc in plucc of rondcmuati��n,arc hcrchy,��tiigncd illld tihBII hC
<br /> paid to l.ender to the extent af ihe lull amoum af ihe indebtedness thai remains unpa�d undcr the Note and ihi,Securuy Inuru•
<br /> ment.Lender shall apply such proceedti io ihe redu�tion of Ihe indeb�eJness under the Note:md ihi.Securiry In+trument,lirst io
<br /> any delinqucnt amounts applicd in�hc nrdcr providcd in Paragraph 3,nnd�hcn to prcpayment nf rriii�ipaL Any applicanun ni�
<br /> the proceeds ta the principal shall not extend or posipone the due dale��f thc monthly paymeu�ti, ��hirh aro referrcd iu in
<br /> Perngreph 2, or change the amounl of+uch payments. Any excess procecds uver an amount requir�d iu pa� all nuitiiandiuf:m-
<br /> debtedncss undcr �ho Note and this tiecurity Instrument shall bc paid to Ihe cnnty Icet►Ily cntnlca ihcrei��.
<br /> 8. Fees.Lender mn,v collect feec und charges aulhorired by the ticcretary.
<br /> � I'uYB 2 u!I
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