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<br /> 1,PAY�►cal of Neiacip�l,tnten���nd I,�te 4Aprge.tlat�p�vc�ehall pnY�vhcn tiuc Ihc principal aF,nml Intcrr�� ��n,�h:dsA» _ •: _ _
<br /> , n► . , �
<br /> • � , evldcnctd by�ha Nuta and Into chnrgca duo un�lcr�hc�Nutc. '
<br /> '' �.Rtaethfy I�ymeat�uf'i'�aee,Ina��xnee nnd 01!►er CAvrga,�otruwrr ehnll Include In�nch m�.n�Ihly p�►ynient,t��gett�.r+vlth '�, '' .
<br /> ..� . '�• " '
<br /> ' Ihc ptinci�►A1 Nnd Intetest ua ect tnrth In tiro Nuta enct any lata charpea,mi insu�Umcnt of anY(n1 t��xed mttl�pecial asecs�m:n�F
<br /> __. ..,. � tevled ar to ba trvicd�K4us1�t►e Pr<�perty,(b)Irascftalti►1aYmente ut pround rent+an thc Prope��y� Hf1tI(C��3iCI11I111115 �(}! — . ..-. - _
<br /> insurancs rrauired by Fer�rnpii 4,
<br /> . - � Farh munthly lnst��!lmcnt t�r iirm�(ott{b)nud{t1 a1�a11 t�uat oste t�::lft!►af llte Ann��a1�momits.ns rcruonably cntl�itvt`d hY �,�, _.� _ .-.
<br /> Lcndcr,plue nn aniaunt euiiiclent tm m�intnin an ndditlonnl baloncc aP not morc�ban anrsixth of thc cstimatccl a►nu�sntt,The
<br /> " beeumo�iellnc�►cn114ender ahnll�hold the nmaan e callec ed in l ust to pny Itenic(a1a(b)and(c)befare I�ep beeo�e del{nhtQ n�t�
<br /> li Rt any Nmo thc toln!oP the pnymcnte hcld by l.cndcr 1'or Itcros(i�),(b),and(c),tagcthcr wUh thc fuuirc monthly paymenlc
<br /> fot auch Itema poynblc ta l.endcr priar la the due datcs ot such items,excceda by morc ths+n onc-sixth the cstimntcd amaunt ai
<br /> � paymente repuired to pay auch iloms when Auc,nnd ii'pnymcnts uo the Notc aec current,then l.cndcr shall either refund ihe
<br /> • ' cxccss ovcr onc•sixth of thc cstimntcd poymente or credit the exccss avcr onc•cixth of'thc esNmutcd puymems ta subscqurnt ;;�,
<br /> poymente by Dortowcr,nt tho aptlon of Bor�ower. If the totnl oi the pnymcnts mude by Hntto���cr i'or ftcm(n), (b),c�r(c)19
<br /> insufficient to pny thc Item when duo,then Qorro�ver shall pny to Lender any amount necessary t�mntce up ths de.�icienev on ot
<br /> bcforo tha dnto tho itom becomcs duc.
<br /> � As uscd in lhl9 Sea►rity I�strument, "5ccretiuY" menns tho Sccretary af Housing nnd U�bun Dcvclopmrn�ot his or her
<br /> designee.Most Security lnst�uments inaured by the Sccretory are lnsurcd undcr progrnms��•Mrh reqtdre ad��ance ptxyolFnl uf thc .
<br /> entita martgnge tnsurance ptemlum.if this Sccurlty lnst�umcnt is or wns insurcd undcr n prog�am��•hieh dicl not rcquirc advance i �
<br /> � pnymcnt af'thc entirc mongage insurunce premlum,thcn cach manthly paymcnt shtili also include ciihrr:(i)an inst�►�lm:a�t af thr
<br /> annuul mortge�e insurance premlum to be paid by Lender to the Secrctnry,or (ii)m m�nthiy ch�rge instcad of a+nrrt�tage ; �
<br /> ' ' insurance premium iP thts Security Instrument is held by tho Secretnry. 6nch monthi�•Instnllment of th:mvng:Lar insurnnce j .
<br /> pramium shall be in nn t►mount sufficlent to accumulato the iull annual mortga,�e insurnnce p�en�ium�vieh Le»des�n:manth ! .
<br /> - priar to thc dntc the full�n�unl mortgoge lnsurance premlum is due ta thc Scw:retary,or if this Ser.uflty lnstrumec�t is hrld by thc i,. •
<br /> Secretnry,each manthly ch�rge shaU b.°in nn amount equal to ane-twclfth af one-ht�lf percent oS th;ui+islAnd9ng principnl i ;....,
<br /> . �,;;{ bainnce due o�+the Note. ;:
<br /> lt'Borro�ver tenders to Lender thc f1�U puymen�uf�ll suma secured b�this Secu�ity lnstrument,BMTO\vCf'S ACCOIIrit Sh111 b: �•1'``,'' • .
<br /> credlted with the balance remnining for all instullmenta f'or items (A), (b) and lc) nnd nny mangage insurnaur psemium f :�'�' .
<br /> installment thnt Lender h�.g not becoma abligated to pny to tho Secretury,nnd Lender sh:��l pramrtly�re�l�nd any e�cces�funds ta ;,t:
<br /> Eorro�ver. lmmedlately p�iar ta c►t'orcclosure salo oP tha Propeny or its�cquisi�ion�y Lradcr. Burruw��'s a:c�aunt shnll b: • •
<br /> • crcdited with any balnnce remalainA for ull installments for Itoms(a),(b)and(c), ��',,.. ;=
<br /> 3.AppUcwQoa o1 Paymenls.AU payments under pnmgrAphs 1 and 2 shall bc npplied by l.en�i:r�.�ioilo�vs: � ;
<br /> �.: � ; • �IRST,to the matgaga insurancc peemium w be paid by l.endcr ta thc Sccrets►ry or to the momAl�charae b}•the Secrcitiri "�
<br /> instend of the monthly mortgnge insurance premium,unless Borrawer paid the entire mongagc insurnnce premium»A:n thls �. .
<br /> Security Insuument was signed; �.'�:: �� 4.
<br /> � 58COND,to any tEUCCS,specinl nssessmenis.Icasahold payments or graund rents,and fire,ftood aad athcr haznrd insuranrc � '.
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<br /> _------- prcmiuina. ��rc'�uiiet3; '
<br /> T1�,�RU, to intorast duo undcr the Nato• i '
<br /> 'OU ,to amortizatlon aF the principal of tho Nota; �
<br /> EIFI'li,ta lata churges duo u�dc�tho Notc. i
<br /> �
<br /> 4.�ire,Ftnnd Anti QtAer Hwaaf�It�su�nce.Aarcawer shull losure aU imptavements on the Prorvny,whether now in existence i" —
<br /> or subseque�tly crccted,aguinst any hnzards,casualties,and cantingencies,including fire. for which l.endc�rcyuire9 iosutunce.
<br /> Thls insu�ance shnll be mulntaincd in ihe nmounts and fot the pc�ioda �hat Lender requires. Borrowu shall also insure ull
<br /> improvements on the Propeny,��hcther naw in existence or subsequcntly erected,II8(iIT19l IP59 by PI(10d9 l0 lI1C C%lCill�CqUIICd by ,
<br /> ' the Sec�etary.Ail insu�ance shall be carried with companiec upproved by Lende�.The insuronce paUcics nnd nny reuewala shaU
<br /> be held by Lender and shull include Ioss pnynble clauses!n favur of,s�nd In a Parm ucceptable ta, Lender.
<br />� In the evcnt of lass,Sor�o�ver shall give Lendcr immediute notice by mail.l.endcr muy makc praaP af lass if not inade prompt•
<br /> � ly by Horro�vcr.Each insu�nnce compaoy coneerned is hcreby uutha�ized and directed ta make pnymont for such lov�di�cctly ta
<br /> • I.endcr,in9tead oP to Borrawcr and to I.endcr Jalntly,All ar any pnrt of the insu�unce proceeds may be nppHed by l.cndet,at ils
<br /> • option,either(a)to the reductian af the indobtedncss undor thc Note and this Secu�ity Instrumont, first ta xny delinquant
<br /> , emaunts npplled In the arder in Paraeruph 3,and then to prapAyment of principnl,o�(b)to tho restoration or repuir of'tAa
<br /> damaged property. Any applicution of the p�occcds to�ho principal shall nat cxtand ar pastpane tho due da[e of ihe manthly
<br /> payments whlch aru referred to in Aaragraph 2,or chnn�e lho amouot af such payments.Any exccss insurnnce procceds over nn
<br /> amount required to pny all autstanding indebtedne9s undor tho Nota and thls Security Ins[ruman�r,h�sll bo paid to che entity legal�
<br /> ly entitled thereto.
<br /> � �r:,,; ' ln the e�ent of fareclosure oP this Security Instrument ar othor ua�sfac of dtio to [ho Propeny that extingui�hes the in-
<br /> . debtedness,aU�ight,Ntle und inteeest of Harrowc�in nnd ta insurance poNcics ln for.0 shaU patis ta ehu purchaser.
<br /> 9. PteservAqon and Malntenance ai Ihe P�upeny, I.easeholds. Barrower shull nvt commi� tivaste or dest�ay,damuBe or
<br /> subst�intlally change the Propeny or allow the P�operty to deterlorate, rcasonubio weat and�ear excepted.Lender may inspect
<br /> a the propeny If the p�operty is vacant or�b�ndoncd or tho loan is in default.Lcndcr may take reasonable actlon to protect and
<br />,, ' � preserve auch vaeam or abandaned propetty.li thls Security Instrumont is on a Ieasehald,aorrower shall comply with the provi-
<br /> slons af the leaso. IP Bor�awer ncquires fce title ta thv Aroperty,the leasehold and fce titic shall not be merged uNess Lender
<br /> _� agrees to the merger in writing.
<br /> _ . 6.Charpee to Bonower and Prolectlon a/L.ender'e Righle in the Properiy,Uarrowcr shuU pay all Eovernmental or municipa�
<br /> charges,fines and impositinns that are no[includcd in Paragraph 2•Barrowcr shall pay these obligations an tlme directly ta the
<br /> entity whlch Is owed the payment. It failure to pay would adve�sely affect Lender's interest in the Prope�ty,upon I.ender's re-
<br /> yuest Burrowec shall peomptly furnish ta l.ender receipts evidencin�the�e paYments.
<br /> lf Borrower Palls to make these paymcnts or�he payments required by Paragraph 2,or fails ta perform any othcr co�•enants and
<br /> = agreements contained in this Security lnstrument,or there is a legal praceeding that muy siqnificantly afPect Lender's rights in
<br /> _- the Aroperty(such as a procceding in bAnkruptcy,fbr condcmnation or to enforce laws or repulations),�hen l.ender may do and
<br /> - pay whatevcr is necessory to protect thc valuc of the Property and 4ender's rigMs ln thc Property,,nciuding paymcnt of iaxes,
<br /> � hazard insurance and other items memioned in Pnragrnph 2.
<br /> f�
<br /> � Any amaunts disbursed by Icndcr under this F'aragraph shall become an additional debt of Horrower and bc sccurcd y t is
<br /> Security Instrument.Thesc amounts shall bear intcrest f�om the date of disburscment, at the Nocc race,and at the optivn of
<br /> : � Lendcr,shall bc immedic�tely duc and payablc.
<br /> 7.Condemnplton.The proceeds af any award or cluim f'or dnmages,direct or cansequential,in:onneruon+tiitCe an}•iundem-
<br /> � natian or other taking of any part oi the Property,ar for conveyance in place oi'condemnation,are hereh�assirned and shal!be
<br /> � pald to Lendcr to the extent of Ihc Pull amount oi thc indebtedness thut rcmains unpaid undcr thc`ote and chis Sccurity lnseru-
<br /> '��� ment.l.ende�shall apply such procceds�o ihe reduction o!the lndehtedness unde�the Nate and chis Security lnscrumeni,firss�o
<br /> � any delinquent amaunts appUed in thc order p�ovided in Parag�aph 3,anci Ihcn to prepayment of principal.Am apptirutian of
<br /> � the proceeds to the principal shall not extend or postpane the due date af the monthly payments, which arc rePcrrcd �o in
<br /> Paragraph 2,or change the amount of such ppyments./�ny excess proceeds ove�an amount required io pay all ouitiennding in-
<br /> debtedness under the Note and this Security Instrument shull be pald to the entity Iegally endticd�hereto.
<br /> � i 8.Fees. l.ender may collect fees nnd charges nuthorized by the Secreta�y.
<br /> :; � Paxe 2 oJ o
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