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<br /> 1. �qe�R d P�irdpl,I�ta+at ud L�b CIMrp. Bo�rovrer�bdl py wlre d►w�tbe prM�cip�1 ot.�ad Ln�erat o4
<br /> die dobt ivid�ao�d bY tbe Ncfe�nd Itb ch�e�due uoder die Nab.
<br /> �. M.+�tYr�r��'�•l•�r.�o...e tN6rr(�, �, Harm�r ault ir�otuee m e�cl,moaddy wm�•
<br /> tasathar with die pdecipd and buerott as ut tath in dw Nate�my lue chr�e�.�a inttaUnwk of a�y(�)puces md
<br /> �pe�cW iwawnen�bvied or W be bvied�gainct tde P�operty�(b)I�hoW P�Ynwus a Wnwd reob on tbt pna�paty.�ud
<br /> (o)Pt'aniwa+[°r inw+�no°ro9uirod bY P�ri►Bnph 4.
<br /> B�ch mon�Aly insal4na�t for itama(a).(b)wd(c)�11 eqwl aie-tw�elf�h of the wMwd amoudu.w n�uambly
<br /> admded by l.ender. Plw �n iunount sufflcient to m�int�in �n �odditbnal bdu�oe ot not more du�n an-dxih o�tha
<br /> = e�sUnuned�noimu. 7t�o fWl�amwl amount far cach item rhAll bo Accumulotod by E.eridor within a period endin one
<br /> moath befaro�n ltan wauld become deWquea� l�ender�h�ll hald tbe�uaounb odla�ted in uuu to p�y itaw(a)�(b�ad
<br /> (c)before they Uocomo deNnquait.
<br /> U u�ny timo 1ha taW of the p�y�nts held by Lender for items(a).(b)and(ci�� r wlth the futuro monthly
<br /> p�ymentr tor wch item�payable to Lender prlor w the due d�w of wch itema, ex by nwm th�n one-��Cth the
<br /> -- - - -_- - estlm�ted amount of payments nquitrd topay�uch 3ums when dua.�nd if puyments oo We Nde are cunen�tbea Lader _
<br /> du11 e116or�efluid ihe axcese over me-sGc1h of�t�e ectinu�ted pa ments or credit tLo eaeass over one-sixW of t1�e est�
<br /> payn►e�s ia subcequent PRY�at�s(bY Bormwer.at Ihe option�Boeowcr. If tbe�opd o61Lo p�yn�enUS a�tde b�Bor�nwer
<br /> for itam�(U.(��a(�)is iawff'�cirnt io pay the item when due.il►ea Bor�rorrer alwll p�p w I.eader a�y�aaou��t aeoosnry w
<br /> m�t�e up tLe def�c�►o0 or befae 1ha d�ta the item ba:omes due.
<br />-- As used'a thia Secwit�r Iastrua�ent."Secre�w�y"me�ns tho Socret+uy of 1lousing�a�d Urbw Development ar hi�ar her
<br /> desiig�ee W w►y yw b�n wh�ch tho A�e�nder mustpay�mo�tg�ge nntur�noe premium to the Socrewy.each Y P��
<br /> �;,.,� a1�U�J,t�lude either. (i) �a iratAllment of the annual mo�tgago insurance premium w bo pdd by to iha '
<br /> �+�;� Se�ets�ry�..ar(ii)�manthly chugo instead of A mortg�ge iasuranee pnemium if Ihis Secunry Inaaument ia held by the .
<br /> ��'�v� Sec�euarv�.�ch monthly ins�llment of the �naurance pramium�hall be in an amaunt a�icient tQ AccumWate th�
<br /> �° t�'� fidi wwu►A�mortgage insurance ptemium an�one month ptlor to the dete the fld!untewd �w�0.gage�in.cur�nce
<br />'�;..� �� miima is due w the Secretary:or if this Security Insdument is held by Iho Secnetary.each moat6ly chAr�a sbaU be iq a►1.
<br /> -.�• an�iount�1 to one-twelfth of one-half percent of t6e outstanding principnl balAmx due on the Note. '
<br /> `.:�. �'°i;��; If qAarower tcnders to Lender the full payment of all sums sxwed by this Security Instrumen��wmwer�acccw�t • . .
<br />�:s`. chall be¢�redited with tho balance r+emaining for all installments for items(al.(b) and (c)and any mortgage insu�raisce
<br /> prcmium inatallment that l.ender has not become obligoted to pay to 1he Secretary.and Lendcr ahall pramptly�efw�d m► ',
<br /> cd
<br /> ,;'h excess funds w Bomower. Immediately prior to a forecbsurc sale of the Property or its acquistHon by L.ender.Eiorrower�
<br /> �oeount s1W1 be c�dited wjth nny b�lence remnining for All installments for Items(a).(b)and(c).
<br /> _:u:: 3. A Ikatloo ot P�ymeats. AII pnyments under Paragraphs 1 and 2 shall be applied by Lendar as follows:
<br /> Q�to the mortgnge insurance pnemium to be paid by Lender to the Secretary or to the monthly chorga by 1ha
<br />- Secnmry instead of 1he monthoy mortgage insurance premium;
<br />-,-- �.to�ny taxes.speqit�l�ssessmentc.leasehold paymenta or ground rents.and fi�.flood end otber hwrd
<br />�. � ma�wrnncx p�emiums,aicreqmred; ,
<br /> __ �a�r�n,tn inteiect due uoder the IVo1c:
<br /> �,. ���,w amoAfzation of the principal of the Notc;
<br />,. •5 ' �.to late charges due under the Note.
<br /> `� - :?��•'����,1 4. Flt�e,Flood aad Otlrer He�ud lasurance. Borrower shall insu�e all improveme�s on�he Property.whether now
<br /> -}•`' ' ���i;��';,.� in exiatence or subcoquenlly erected,against any hazards.cas�Alties,and conttngencies. i��uding Pue.for which I.ender
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<br /> , �Tr..5,�� � �. �{,. roquires in�urance. This Insurance shell be mafntained in the am�unts and for the periods thet l.ender�equircs. Borrower
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<br /> �;µ,:,;, .. j..,. shWl also insure all improvements on the Property,whe�her naw in existence or subsequendy erccted,against loss by flaods __
<br />- `.. ���^�• ��,��, to the extent required by Ihe Secretary. All tnsurnnce shall be carried with companies n�roved by l.ender. 7Ue insurence
<br /> . ry r�,:,.�",.., .�� policies and any renewals shall be held by I.endcr and sha0o iaclude loss payable c auscs in favor of, and in a fom�
<br /> .,,. �.:,,�,�. accxptable ta.l.ender.
<br /> %� ,,�,�•, In the event of loss,Borrower shall give L.ender immediate notice by mail. L.endcr may make proof of loss if not _
<br /> _,� �;�rr.�t�yr; .,,,y,.;• made promptly by Borrower. Eech insurence compan concerned is hereby authorized and directed to make payment for —
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<br /> , �,r.,,,,;.,,;;.. :;,�; such bss directly to Lender.instend of ta Borrower an ta l.ender jointly. All or uny part of the insurance proceeds muy be
<br /> ,• �;,���t•�„`�;, :�� ,�2 � appliod by Lender.at its option,ei�her(a)to the reduction af the indebtedness under the Note cuid this�ecurity Instrumen� _
<br /> . .�,,x,�,�„ ,;,;�,�y � fuat to any delinc�uent umounts applied in the ot+der in Poraga►ph 3,and then to prepayment of pdncipal, or(b) to the r,t.-
<br /> � � '• �� rcstoration or repair of the damoged propeny. Any upplic�tian oP�he p��RrcJs to thc principal shull not extend or pastpone __
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<br /> f'� �„r�,..'•� .,;},�k;,:_.�tt. the c�ue da�e oFthe monthly puymenls which are referred to in t'uragrnph 2,or chunge the amount of such payments. Any �.�._
<br /> j , i�,. excess insurnnce proceed.s over an umount reyuired to pny all outstanding indebtedness under the Note and this Security
<br /> ) ,�: . „ Inswment shall be paid to the entity legally enutled thercto. �--
<br /> `�' � In the event of fareclosure of this Securit Ins�rumem or other trnnsfer of title tu the rt that eatin uishes the
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<br /> � ;'i�l'' " ' indebtedness,all right,tiQe und interest of Borrower in unJ la insururne policie+in force shnll pucs to the purchaser. ,,�
<br /> '�.,� ��°+�. , • '�. Occupancy, PreservAtlon. MaMtenonce and Protectlon of the Praperty; Borrower's I.oan Applicatlon; �:�
<br /> � ��".�, . . l.easeh[+�ds. Borrower shull accupy,eswbli,h,und use the Pn�prrty us Borrower:principnl residence within sixty days ',
<br /> ' � � � after the execution of this Security Instrument o�d�hull continue to accupy the H+openy us Bom►wer.principul residence -,
<br /> '��: fc�at least one year after the du�e of occupuncy,unless�he Sec�wry determines this reyuiarment will cuur+e undue hordship �.."'v
<br /> "' �'� `� for Borrower,or unless extenuu�inF circurtisluncex exixt whirh ure bryond BoROwer� control. Borrower shall notii'y ��-;�
<br />' ��,� stunres. Borrower xhull na commit wnste�r de�tro .dumu r or,ubswntioll chun e : .�
<br /> l..enckrs of uny extcnuatinF circum Y !? Y
<br /> � � ' ' ••.�• t the P+rnpeny or ellow the Praperty to d:teriorute,reasonuble wrnr and teu�excepted. Lcndcr may m.pect thc Property if t r -
<br /> - ;� �, �� Propeng� is vacant or abnndoned or the loun is in def:wlt. Lrnder muy�uke reuxonuble acuon to protect and preservr such `-:
<br />�. � ' ;r;��:���c,' varpnt �r abandoned Propeny. Borrowcr shall altio he in drfuult if Borrower, during�h� �nan application proces4, gnve :': •;
<br /> , ; � �'`�: materis�l��• f�lsc or inaccurutc mformu�ion ur stutcmcnt. �a� Lender I�x failed �o proci:l� Lcndcr with any material
<br />_ , ,� , „ infomiation) in cannection with�he lo•rn evidenceJ by thc tiote,includinF,Mu� tnH limitrd lo,nprcsen�atione conceming ,,"�"
<br />- Borrower's occupancy of the Prc►p�rty ati a principul re�idzn.e. lf this Securioti ]:�.trument i�on u le�xehold.Borro��•er sha0i f�•.'�
<br /> ! cnmply w�ith the provisiuns of Ihe leavc. If Bnrcowrr acyuir�r+ ica titic t�i the 1'ropeny,the�eAUhold und fer title ahull nm �':''
<br /> � ! ''���.?�� be tnerged unless Lenderngree.tr�e*re merger in wri�ing. •;` ��'
<br /> . ,'.�� :��l ' �. �Ch:�rges to Borrow•e�ae��9�otection uf Lender's�3�i:���x in the 1'ropert�•. Bocrr«cs+hall pA� ali goveznlr:entu�
<br /> � '"' ,"�•'}i����t',;, or mumi�IpIII Chnrgec.fines and impositionx tha�:ue not irtcl�drd in P�ragraph 2. Borrawer sNall pay 1?:ese ubligauon�on ;
<br />. L � �1..�,,'1 time directly to the entity which is owed thc p•r}•nwut. If failurc �o puy would udvenrly affect Len�:�ra's interex� in�he ;
<br /> - Property.upon Lender's reyuest Borrower shull promptly fumish to LenJcr receipts evidencing�hese payr^�nts. �
<br /> s • If Bomowcr fails to muke Ihetie puymcnts or the p:+ymcn�x myuircJ hy Pcuugraph 2.ur iails to perform any other
<br /> covenants and agreements comuined in thi+Serurity Instrumeat.or therc is u Ic�ul proceeding thw may,�gnificund} affecl
<br /> t�endrrc rioh��;in�he Procenv(such us a uroceedine in b:uikrua�cv.far cunckmnu�ion or to enforce laws a�re�eulatcon�), �.
<br /> , ,;�� ' then L.ender muy do und puy whutever i+necessury to pmtect�he vulue af the Propen�und Lrndrr's riFhts in the Property. �
<br /> I ` including puyment of taxex,hu��urd insuruncc and other itcros mentionecl in P�.u�agra h�. ,
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<br /> � My amouots disbuncd by Lendcr under thi+P�rugraph�hall 6erome an•rJ i�ionrl deM��f Burrower und be xcrurcd
<br /> ' �'`' by this Security Inswment. The+e amounts sl�alt brar interc�t I�rom the date of di.rMuse�rten�,m the Note�tc,wxl at the �
<br /> ; _� � optian of Lender.shall be immedisuety due and payabk. ,
<br /> "�`�" ' 9. Condemnatbn. The pr�►ceecis of an,y a�ud or ctr�m for damageti,direcl ur ck�n�-yuent�al.in r�mn�rtioa with uny t
<br /> ' ,.��, coodert�nation or other tuking of ony part oE che�cc�perty,or far comeyuncc in pluce ot'cond�mnanc�n.are hrreby uti�igneJ �
<br /> ` „ ar�d sltall be paid to Lender to the ealent of tl�e Pufl unoum of the indebteJnc��thnt rcmuin.unpuid und,:r thc Ni�te und thi. �-
<br /> ;;��� . Q ;, • Security Inswment. Lender shull apply such pmceeds�o thr�durtion of�he indehtednr..under thr N��[e;uid�hi.Srrurit}• f
<br /> • ', , Insmiment, fir�t to any delinquent umountr npplieJ in the onler proviJed in Pura�:ruph 3. miJ thcn 10 prepuymem ui' �
<br /> j. ,:�,A� ••• pcincipal. Any opplication uf the pnx:ceds to the principal sholl nc►t �xtenJ or po+tpnne the due Ju�r of the munthly �
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