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<br /> � L �jie�t o�hf�eiNt,'I�te�e�t aid Late CMar�e. Baauwer sHail pay when due thc princtipat of.aad intarst oo. . .
<br /> tha debt evideooed!ry t6e Nac aod I�tc cl�ea due�der the 1Voie. � :
<br /> i MadY��►�eifs d 71�us.Imoraece ad Ottier C'bar�. Bix�vwet shall include in each monililY PaY�� : .
<br /> - - ` ;.,gw��:�:t!►tpdnapil and inte�est-as-set-fc�-in-iLo-Notc3ad�ayr-lau-ch3tges�aa-iststatijt�entaf-au3F-ts�-��d�------
<br /> - apect�t�lents ie+�ie�l oc to be Ievie�agsinst thc Property.(b)Iasd�old PaYmeats m graud renis ae thc Pcoperty.md '
<br /> , {c)pRmiu�fdr msarmce iequined�y P�r:gr�ph 4• t
<br /> Facb monthiy iauallment for uNns(a).(b)aud(c)shalt equat.one-tWreifth af the annnal amo�uus.as reasonably' `
<br /> � estim�ted,bir Irader.Ftus�t amount sufficuent W maintait�an,additiasal�6alance of uat_mone tlian 000-sixth of the
<br /> ` eatim�te�l amwuits. 'R�e full umual amoant for cx�item shail be accumWated Dy.i.endei within a period e�ding aae ;� .
<br /> ' .� month 6efae ad item waild becane delinquen� i.ersder shail hotd the�ts colfect�in uust to pay iums(a),tb)and
<br /> - (cybef«e t?ieY Dccame delirxi�ea� .. �
<br /> . If at any t�ne tbe tatal of the paymeats held by I�ender for icems(a}.(b3 and(c).w8eti�er Writh ti�e fuau�awathly
<br /> , . �payments fa such iue�P+►Yabk w Lender prior to.the due daus of such items.ea�cceds by mone thm a�o-siath tfx
<br /> espm�ted ahwuat of p4yments rtquizod to, y such tcems when due.and if paymaits ai tije Note atie cucieat,then Ledder
<br /> st�al�either zefw�d d�se excess over oao-si�pf ti�e e.ui�paymrnts oi ce�edit the e7cass avei oae-sixdt af the�
<br /> - payments[o subsequent.pnyments by flaroruer.at the option af Bonower. if the wFal of tbe payments made by Boaower
<br /> - for itemYs),N).or(c}is iasufficient to pay the ioem when due,tben Borrowes s6all pay to Lender any amount necessary to
<br /> =_ - m�ice up the dtfcciaxy an a befa+e tbe date the item buomes due. � �
<br /> = As used ia this Security Iast�umenb"��3'"���'of Housing aud Ufiaa Derclopment or his flrl�er
<br /> _ - -- designee. In�nny year in whiclt the L�ender must pay a mortgage insurance premium to the Seccetary,each mantLiY PaYment -°
<br />-:_' shall also inc�ude either. (i) an instalhnent of the annuat martgage iasmaRCe premium to be paid hy l.ender w the
<br />,�;;,�:_ � Sct[ets�ry,ac(u�a mondily charge itrstead of a mottgage insuranoe pcemiwn if this Secutity'Instnunent is held by the
<br />-- Secretary. Each manthly installment of the mnctgage insurance piemium�all be in an�oum sufficieat to accumulatc ti�e
<br /> ..a;;� fuli anniu�l ihottgage insurance p�emium with Lender one month ppor to the date the fuU annual moRgage inswance .
<br /> -':=� prertdum is due tn the Scnetary:or if this Suurity Instiumem u t�eTd by the Seceetary.eadi monthIy charge sfiaU 6e in an —
<br /> •,�; . amoant eqwl w one-iwelflh of ane-half perceat of the outstandmffi P�P�6atance due an.the Note. —
<br /> - ; If Borrower tenders w Lender tbe fuA payment of aU sums savred by this Security Insp�unent,Borrower's account
<br /> ,;��-. shail6e ec+editat with the 6alanc��naining for alt instatime�it�for items(a),(b)aad(al and anY mortSaBe insurar�ce _—
<br /> me —
<br />_ -- pnmium it�stallmeat that Lender has aot Uecome obiigated ta pay to the Secr�etary,and Lertder sbalt promptlY�anY ' --_-__-
<br /> eacess funds to Bomnwer. [mu�ediately prior to a foreclosuie sale of the Property or its acqoisitian by Lender,Bomnwer's �--
<br /> - - siocaa�t shal!be c�edited with any�lance remaining for at1 ir�stallments for items(a).(b1 and(c)• _ ` �'�'`'
<br /> r �.,�.�_
<br /> • = , 3..Appiicsdou otPxymenta All payments under Paragraphs 1 and 2 shall be applied by Lender as follaws: �.-�---
<br /> �V : _ p�'t,fo the mortgage inswance premium ta be paid by Lender to the Secretary or to Ihe monthly charge by the �
<br /> . Socnetaty instead of the monthly mortgage insurance premium; ' , �'� `-
<br /> . '�Q�p,w any taxes,special assessments,leasehatd payments or ground renGs.apd fire.flaad and otber hazard {�,.�.���.:
<br /> ' insurance ptemiums,as requued: _ . . • :,y�-�::_
<br /> �,Q,to inte�est due anderthe Nate; ��:-_�_....
<br /> ���_
<br />- . , ; - � �,to amarti�ation of the princip a!o f t h e Note: - _
<br /> ,�,w late.charges due under the Note. . , •�"����
<br />:' • �:� � 4. Flre,Fload aad Othec Hazard Iagara�ca Borrower shall inscue alt improvemenu on the Ptnpetty.wbet6er now �-
<br /> +� in existerue or subsequendy erected,against aiiy hai�rds.casualties.and coirtingencies,ine tu ding�i�for w hic b L e n d e r _
<br /> � roquiros insurance. This insutance shall be maintained�n the amounts and for the periods that Lender mquins. Borrower r �_�_.
<br /> � ' , shall atso insure all improvemenu on tbe Property,whether naw in existence or subsequentiy erected.againct toss by ftoods =:r�°'�:�,�x;.
<br /> w tLe extent requireA by the Secnetary. All ins�rance sha116e caaied with companies approved by ixnder. The insurance --. '.
<br /> e.
<br /> `. policies and any nnewals shall be held by Lender and shall indude toss payable clauses in favor of.and in a fortn ", .�'�.`�
<br />; � acceptable to.Lender.
<br /> In ttie event of loss.Borrow�r shall give l.ender immediate notice by mail. l.ender may make proof of loss if not .
<br /> . ' '` made promptly by Borrower. Each insurance campany concemed is hereby authorized and directed to tnalce payment for . ; _
<br /> ;�.; such loss directly to Lender.instead of ta Hortower and to Lende�jointly. All or any part of the insurance praceeds may be ' • =
<br /> • � applied by Lender,at its option,either(a)to t he r e ductian o f t h e in d e bt e dness un der t he Note an d t his S e c u r i ty Ins t r u m e m. �- 'r'-
<br /> '• �t st to any delinquent amounts appiied in the order in Paragraph 3.and then to prepayment of principat.or(b)ta the . _
<br /> • : �� restoration or repair of the damaged property. Any application of the proceeds to the pnnc�pal shall nat extend or postpone . -
<br /> �� _•��- � the due datc of the monthly payments which are referred to in Paragaph 2.or change the amoum af such payments. My •
<br /> _�-� °
<br /> • ,: • " excess insurance proceeds over an amount required to pay all ou�5tanding lndebeedness under ehe Note and this Security �.�,� , ,
<br /> � Instrument shall be paid ta the emiry tegapy entitled thereto. � .
<br /> , In ihe event of foreclosute oi this Securlty/nstrument ar other transfer af titic ta the Property that extinguishes the _ , �� ',
<br /> `�� indcbtedness.all righ�title and interest of Borrower in and to insurance policies in forcc shalt pas.4 to the purchaser. .. .
<br /> S. Qccupsncy. PreseevaHon, Maiatenance s�ed Protectlon ot the P�operty: Rorrowe�'s I.oAn Appliration; .
<br /> or
<br /> � l.eue6old�. Borrower shall accupy.establish.and use the Rvperty as aortowerc pnncipal�sidence wi�hin s�xty days � ,
<br /> �°� after the execution of this Security Instrument and shali cantinue to occupy the Praperty ac Borrawer�principal resi8ence ;
<br /> �;:' for at least one year after the date of accupancy.unless the Secietary determinea this rec�uirement will cause uadue hardship � . � '•��
<br /> � for Borrower. ot unless extenuating circur�istancea exist which s�re 6eyand Borrowers controf. Borrower shall nodfy �•':�.':
<br /> ,w ,��� l.enders of any eztenuating circumstances. Bonower shall not commit waste ar destroy,damage or substantially change � �` ' ,
<br /> �� ��°�'��' the Propetty or altaw the Property to deteriorW�.�easonabie wear and teat excepted. Lender may mspect the Property if the - ,
<br /> y.. �.,,.
<br /> �.;�_.;;., , '. Property is vacant ot abandoned or thc loan is in default. l.rnder may take reasonablc action to protccl and preservc such P'
<br /> ::;:.3 vacant at abandoned Property. Borrower shap ai.so be in default if Borrower,during the taan application process.gave
<br /> '' �� materially faise or inaccurate information or statem�nts ta txnder (ar fs�ited to provide Lender with a�ry matenal .
<br /> � w�'�:�'-°;- Infoanation)in connectton with the loan evidenced by the Ntate. including,but not limlted to,representations concemin � �°=_.��-
<br /> . „.�,,;, :
<br /> " ��,-�':�>� • Hartower's accupancy of the Property ac a principal rezidence. if this Security Instrument is on a leasehoId.Borrower sh I .
<br /> � •'�-�'` comply with the pr.ovi!►ions of the lea.tie. If Borrower acquires fee titic ta the Pr�perty.thc lcasehotd aa�fec�itic shsill aot , , •
<br /> '� -r��",;;:� .• be merged un2ess Lender agces to the mcr�cr in writing. ;
<br /> • ; ;�`:��.° ;• 6. Chargta to Borrowe�aad PfotecNon ot l.ender's R1p,hts in the PropeMy. Bomswer shall pay ul!�;ovemmenlal ,
<br /> _ r ` ' ' or municlpal cbarges.fines�nd M�p�sitions thas um not included in Faragraph Z. Bo�rawet�hall pay�hese obligations�dn �.�
<br />. � ;�,�'`;.._�'-'�.-� �� ttme directty to the entity which is owed the paymem. If f�itnre to pay w�utd advencty affect I.endcrti interest in ffle � - -�"
<br /> , � � Property.upon Lender's reyuest Borrowcr shall pmmptly fumish to Lcndrr rer,eiptw evidencing these payments. ► • .
<br /> '-�';�� • �� lf Botmwer faits to make these p�ymenss ar the paymcnts required by Par�grpph 2.or fuily ta perform any other .
<br /> � . . '�?-�.�'�-' covrnants and ag�tnent�contained in this 5ecurity lnsin►menl�ar therr ix a tcg�il pnuceding th�t may Htgniile:uniy affect '
<br />. ' . �"..>:.:.�..� Lender's rightsti ln Ihe Properry(such uv s+proceeding in bankruptry.fur cundemnatron or to cnfaree laws or regulalians). ;. , . •
<br /> '� . then Lender may do and pay whatcver is necrssary to protect fhc:valuc ot'�he Roperty an�!I.ender�:rights in the Property. •
<br /> -�'.=° �• - ' inetuding payment�t taxes,hazard lnsurance and ather items mentioncd in P�ragra�b 2. , - . :
<br /> ':'�. ' � An�y amoqntsi disbursed by Lender under this Paragrapb sh�ll brcome:u�additional debt of 8ortower nnd be secured � •
<br /> "'" • 6y thls Security Insuument These amountv shall bear lntemst fram the date uf dlsburscment.:�t the Note ratr.ilfld'J1 tI1C � �
<br /> • �,�;� " �, ' • aption of Lender,shall be lmmediatcly duc and Qayabtc. E ' � •
<br /> r` 7. Coedemeatbe. 'i'he ptoreed�:of:my award vr clalm for damages.direct or ronsequenti�il,in connectinn with any �. '
<br /> -��:�. .-� � .. candenmation or other taking uf�ny part nf th0 Properry.ur for conveyance in place of condemnation:arc here�y:�ws�igneJ '
<br /> %:t°. , and shafi be pa18 to Lender to the extent oi�hc full amount of the indebtedness that remains unpaid nnder the Note and this �
<br /> --___-__ `---_--'-_---- , - g�f Y t�ar.���.�r j�p,�s h a l f app l y su r h prac e e�s to t h e re d nctian o f t h e 4n de bte d ne�c undec th�N�te:md this Srrarity _ . ��-_-___.:-.--
<br /> � '�: : , Insttument,fhst to any delinquent amounts�pQlied in the urder provided in Parngraph 3.�nd then tu prepaymrnt oS '
<br /> '"S�� . � ' principal. My application of the proreeds tu the prinripal shul!not extend or pnstpunc thc duc�d�tc of thr mnn�hly •
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<br /> , . � �,-. _ , _ �p��2�I�x�sr - , ' •
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