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<br /> F,afi mmcWy im�l far iams ty,(b),md(c)�a11 oqual ane�twelfch of ciK�naai amounts.as ieaso�ablg�t�mwed' ;-
<br /> � . by ixader.pIas�a�mount aulficknt to n�ainain aa additional bal�nce ot nat+nare tl�aa one-si�th of ids atimated amouacs.•
<br /> 'I'he fd!amual�mauM fa e�ch item�116e aocumWued 6y L�ender within s per�od e�adia�one maas6 befixe an itan wrouid .
<br /> - beoonre de�oq�nt.I�sader a1�U boidtirc a�aoutKS ooU�eaad in mut to ptr icem�(�?,@).rtad ts�.6�efcre they bdoaau ddin4um�•
<br /> if ai�nY ti�atthc total ott6e psY��bY�far iteems(s?.lb�.and tc},to�ether with t!�fi�ure awnthiy paymeats . -
<br /> for sucb it�as PaYSbk ta l.ender pzior to tde dut dues of wch items.�xoceds is�►mcur than aee-sixth the eatimated amout�t.�
<br /> ot psymea�s rcquired to psY s�ch itea�s wl�m dne�and if p�y�aent�an the Nae ua current.then Lender �ts to subKquen�' -
<br /> — thea�aess ova oao-sixth o!the atimued paYments or aedit the excas over one-sixtb ai the atimated WY�
<br /> }�►ymeats bY Borrawe�u ihe option oi Rorrcrer.[f t6e total of the parineats made 6y Borrower for ic�n ta),tbA a t�)
<br /> is tnwffident to p�y the item�rljea duG thea Eurmwer shall P�Y io i.ender any amount necassuY to make�ti�det"�dencY
<br /> oa or before t1�e date the item 6acoma dtu. . `"
<br /> As used in tlds Security Insaument.••Secmuy•mesns the SecretuS►of Housiug snd Urban Devdupmenl;or f�is or her
<br /> � desipiee.Maa�Sa�ritl►Instruments insured by tbe SecretuY arc iasura�undec ProB�vrhich require advsinoe T�sYmeat of
<br /> � tbe estire raort�e insurance Dr��.If this Security Iacttument is or was insurod uader a pro�run wbich dtd noc requi�e
<br /> adv�noe OaYn►mt of t6e eat�e mortp�e iasyranx Pn�aium,then each mobtWY P�Y���shAU aiso tndude eiti�er:(7 ast iastaDrnan
<br /> ` af tht aonuai matf,�iaswan�x premium to be paid by Lender to tLe Saxet�IrY.ar(iij a rtonthty cbuBa iastad.of Y mortpse
<br /> � ;nsivaaoe premium if this 5ecarity Instrnmeat is heW by tbe Secretary.Each manthiY instaWnent'o€the mortgage insurance
<br /> pr�uai.ahaU be in an amount sufficient to accumWate the Eull azmual mortgage insuranix Premium with i.ender ane month ,
<br /> ` ' ptior.,ta'.�b�date the fuU annual-mortgage i�urs�nce Premium is due to the Secr+eSarY.or if this SecuritY lnstniment is held
<br /> ,, by��y;:q�n�ontbty ct�arge sh�Il be in aa amount tquai to oue-t�r�elith of one half perocat of the ouutan¢`ng prindP�
<br /> b�cc�u�+oa.tiie Note. ,
<br /> � if BOiidv"va tmders to Leades tig fuD payraent of aii sums savred bY tbis SavritY instnim�at,Bo�rawePs accownt ahal!
<br /> I�e c�t�with the balaace remaining for all instaQments for items(a),(b)�and(c)and aay mortgage iiuurance Pmntum
<br /> ��aAment t�t kader haa npt become obligated to paY to the Secretary,and[.ender shaU promptty afund any eacess funds �
<br />��~.r � to Borro�rer.Immedisutdy prior ta a farae[osnre sale of che Propercy or iu acquisiuon hy Leader,Bonower's account shs�ll ._
<br /> e � � .
<br /> _ be creditod with anY balance remsining foc�tl:,in�taltmeats for itans ta). (b).and(c)• �
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<br /> ` ` 3.Appliaitio�oI Pay�a�ts.Al!paY�under paragraPhs 1 and 2 shall be applied tiy.lreader as foltows: .:. . • •
<br /> -- -- . , . v the Secreta�ar to�hesnonthtY-char8e.by_tha_S�!'ecars! _
<br /> _ -•
<br /> _ _ _ �r�t,to t e mortgage u�surance pt
<br /> � • iastead of tbe monthty mortgage iativrance premium.unless Borrower patd the emircmortgage jr�surance pmm�uu�wHtA;tii�`'_.. .—.�;:..:
<br /> . ?r Savrify Itistcnment was sigaod;
<br /> -;�;; , Swond,to any taxes,special assessments.teasehold payments or ground rents,and�re,llood and ather hazatc�ilisutance . _
<br /> {y ; -.�f j}!ClJ7.4UIIISs SS ICQ1IUl� . .i" �, , , .
<br /> �'� � '&�tird,to interest duc ur%i�s the Note; •, , .�'��
<br /> � .��onrth,to amortizaau j�.ci�#�e principal of ttce AC�� ,
<br /> • ;",,.��fth,to late charges dui�under the Note: . . `
<br /> :� :" � 4.��F7oo�a�d p�ier Hazud ip�uts+�ce.Borrower shall insure alt impravements on the Property,whether now in —
<br /> ' adsteuce or subsequentiy erected,a8aiasi"�y'�'�azards.casualties,and wntingeacies,including fire,for which Lender requires �_
<br /> - insuraace.This insurance shaU be maintained in the amounu and for the periods that l.ender requires.Honower shall also� �_,
<br /> � insure all improvetnents on the Property,whether now in enistence or subseAuentty erected.against loss by floods to the extent _
<br /> required by the Secratary.Ail insuraace shall be carried with companies approved b�r Lender.The insurance pulicies and any
<br /> reacwals shall be held by Lender and shall lnclade loss payable clauses in favor of,and in a form acceptable to.Lender. �
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<br /> ' � 111 the evetii Of loss�Bonower shaU give(Amder immediate notice by ma31. Lender may make proof of tass if not made _-x_
<br /> prompdy by Borrower.Each insurana company concemed is hereby authoriud and directed to make payment for such loss :;.�.--.
<br /> � - dlroctly to I.ender,instead of to Bonower and to Lender Iointty.All or any part of the insurance proceeds may be applied _ •
<br /> by Lendcr,at its option,tither(a)to the reduction of the indebtedness under the Notc and this Socurity Instrument,frst to
<br /> � ' *�_.; any deliaquent amounu applted in the order in paragrapb 3.and tfien to prepayment of prIncipal,or(b)to the restoration
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<br /> or repa�r of the damaged Propeny.A.tlq'�lication of thc proceeds to the principal shall not extend or postpone the due date
<br /> - of the monthly payments which are r�fer�ed to in paragraph 2,or change the amount of such payments.Any cxcess insurance ,�E:;�_
<br /> .� ,.s
<br /> pcoceeds over an amount req�red co pay atl outstanding indebtedness nnder the N�ase and this Secudty lastrumont shaU be ;;���,,.
<br /> ppid to the entiry legallY entit2W thereto. ,. ~: �`��"`-
<br /> � • ln the eveat of foreclosure of this 5ecurity Instrument or other transfer af tltte to the Property thaf eatinguishes the
<br /> �y�.`=
<br />' �,. indebtedness,all tight,tltte and interest of Borrower in and ta insuranee policies in force shall pass ta the purchas¢r. y;. .
<br /> '�tl:
<br /> � S.Preservados a�d Mai�te�a�es oi t6e Propertyn fLeaseholds.Borrower sha�3 nat commlt waste oc destroy*damage or �;�t,;..;
<br /> su�antially changr the Property or altow the Propercoc un�ieteriorate.reasonabSe���ar and tcar cxcepted.Lender may i�st�[ t`.��`:"
<br /> ' ��,�.� iP,o�Propeny is the Propeny is vacant or abandoned ar i�he loan is in default. Lender may take reasonable action to protect �
<br /> ' '�'-'�; : and Dreserve such vacant or abandoned Pro�cEy. If this Security lnstrumen�is on a leasehold. Borrower sha11 compty with :
<br /> + ''ai�:
<br /> fhe provisions of the tease.if Borrower��,ui�es fee tiUe to the Property,the leasehold and fce titlo shalt not be merged unless
<br /> ' f�';��,�` , Lender agrees to the merger iu.,vmi�,. ,��`�. • ` . :;.,.:.
<br /> � � . �.:., , . ;:,. . , :,��._,.
<br /> ' = '� � i.CYuse�to Borrowaa�il��.�11R�'s Wsht�ie tYe Pr°perty'.B°rr�c`+.`r shall pay ull governmmta'�ar municipal ;��
<br /> � �����'�� charges,fines and impositiaas that ate'n.�s�:iil,cluded in paragraph 2. Borrower shail pay these obligations an;simt directly to :''
<br /> _ ,��.r�,•
<br /> ,.,•,«ar�
<br /> �_.,� ,,, the entlty which is owed the payme�,�r,.�L�l"a�ti�re to pay would adverset;sffcrt Lender s interest in ihe Proper�y.tr�an 1.ender s J . .
<br />;�';"''� •a ,,-;�'`�' request Borrower shali prorq�ty iurpiEb%��s.�.eader receipts evidert��r.�thcse puyments.
<br /> �7'��il� . . - t ,,�� . ' �
<br /> ' . ���'�'��`�� � � Cf Banowet fails to ma�c 11i.�e�aymenas or the p3ytnents requircd by parugrt�ph Z.nr fails tn perform a�yactner covcnants
<br /> t;..:�'�� .
<br /> ' ,�"s ; a�d'agrcementscontained in:i3tis�e�urit�j�°GiYtrument,ar zhere is a legal proceeding thut may signi�icantly�ffe��i.ender's rlghts
<br /> ` �'�" tn the Property(such as a procxedin�iii;Unnkruptcy.tnr condemnatlon or to eniorco lnws or regulations)�then Lender may .
<br /> ,,,,
<br /> � � A�� �� . ..��ir;`` do artd pay whatever lsa�ecessary to pr6t+�x the value of the Property aad Leadcr's rights in the Propedy.including payment
<br />- .- .. . - ' r��.<''�-_'-'"'" of taxes.hazard insurance and ather items mentioncd in paragraph 2.
<br /> " �'"�' `'`�`"? My amounts dlsbursed by Lender under this paragraph shall become�n addition�l de6t of Borro�ver und be secured f�
<br /> ,.._..,:. ; . :
<br /> . � ,�;����� by this 5ecutity Instr�unrnt.'1'hese amounts shall bcar interest from the date of disbursement.ai the Note rate.�nd at the i,
<br /> °'=�:''-� option of Lender, shal)be immediatety due and payable. �
<br /> �,, ,
<br /> ,'��;:"'':� ' � �,Co�demtb�.'the pracerds of any award or rlaim for damages,dirert or consequential.in ebnneetic►n with any ; .
<br /> ==�-..--�-=��r- condemnation or other taking of any part ot the Prnperty.dr for eonveyanc�e in place of condrmnation.ure hereby�signed � .
<br /> -- s;'�= :s�-`�` attd shatt be paid to Lender Eo ihe extelit cf the fuii amwnt of the indebtr�u��that remains un�i�!undec tha Note and th�s t��-
<br /> �� {"' ' 5tcurily(nstrument.t ender shall apaly such proCeeds to the reducrion of the indebtedness uttder the Note nnd this 5ecurity ; `
<br /> � '��. Jnstrumeat,titst to any dellnquent amounts�1rplipd in theorder provided in paragraph 3.and thcn to prcpayment df princ�pal. � �
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