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<br /> 93-�.or�a�� �
<br /> ' L Par�s!�af Pri�cip�l.l�t�t aad I.M�4Mar�t. Borrow�r�11 p�y wb�a due tlw principd d.�ad i�Nawt oa,
<br /> dr d�bt avW�a�d bY�he Nae and lata ch�e�due under the Nrne.
<br /> Z. Mo�Hlly d'IWtey la�a�oe ur!�r Baerawrr�h�ll inclucl�in ach dwtMhl�p�yrnenb
<br /> rosqher wilh tbe tpsl�i in{ae�t�t ret fad+in dw Note�y late char4cs,�n inwllirRent ot rny(• twce�and
<br /> �pecl�l a�bvied or to be bvled n�ain�t the Prope�ty.(b)I�whold pymenp ar�rournl reiw an�ha f'nope�ty�and
<br /> , (c)promiumt tar inwnuico roquirad by Puaaraph 4.
<br /> E�ch man�y in�imr,u fa f�m. (�). (b)and (c) ih�ll equal one•twelAh of the annw! amouM�� n te�aubly .
<br /> � a�imued by Lena�r, piw �n +imount suflicient tn m�inWn an �uldiUon�t 6aluico of na monc th�n one•�ixth of the
<br /> - -. �_; ettimua!�mqtnp. Ti�e fu!!�nnwl amouot for each item�hrll bc tccamul�tod by Lender within� periad eMlin�one
<br /> month befara�n ltom would bocome delinquent. L.ender�II hold��mounu colix►ed in w�t w pry iteim(�)�(b)�ad
<br /> (c)betore�hey bacome delinqucnt.
<br /> If�t�ny dme tho totd of the p�ymenta held by Lender for itcros(a),(b) and(c).togW�er wlth�ha fuwro montMly
<br /> ' p�ymenta for such itema p4y,�ble w Lender prior w tha due dAtes of such Itema.eaceeda by mae U�on onasixlh the
<br /> -- � � eatjnuted anwunt of p�ymenu nx2uinxl�n y��ch it�mA when due.and if pa menu on th�Noto ue aument,tikn Lender
<br /> � ihall either rcfund tho excess over one•�ia�of the eatlmated payments or�t the eacesa ovcr one-siath of the estimatcd �
<br /> p�ymenla w subaequent paymenta by Iiorrawer.at the option of Borrowcr. If tlw total of tho pnymcnta mado by Bortower
<br /> for item(a),(b).o!�(c)is ineuf�icicnt ta pay the item when due.then Bomower shall p�y to l.eoder any�niooeswwy Ro
<br /> mwke up the dcficiency on or bcfon tt�o d�te the itan bocanes duc.
<br /> As used ia this Securit�r Instnunent."Socnetary"means tt�Secnetary oi Housing and Urb�n DeveloprKnt or his or her
<br /> __ desig�eo. In�ny yeAr in wlach tho Lender must pay�mo�tSaBe insura�oe premium to the Sec�et�uy.e�ch morNhRY P�Y��
<br /> shall dso inclwla either: (i)an installment of the annual mongage ir�surance prcmium to be paid by Lee�det.tq tha , ,� .
<br /> _ 5ecretary,or(ii)A i�thly charge instead of A mo�tgage insurance premium if this Security Instrument is held by t�e �
<br /> -�� . :�Secrct�ry. F.acD�monihly Instaliment of tha mortgago in:u�ance premivan shall be in�n amount sufficicnt tu acc►+r�atilato!he _
<br /> '` - - 'fuI! pnnua7 mor��age ip¢urance pmmium with Lender one month p.••riar ta the date tt� full anau�l mortgag�in.�e =
<br /> ��_��;•., ptesnium!s due to t�he Seet�etary:or if ihis Security Instrument ia tlelc]by the S�cretaty.each monthly charge ahall be in an
<br />.�-=f:��F�,�+,�.. ' amouns equal ta onc-twclflh of a1e•half pc�eat af the�outstundeng principat balance due on the Natc. ,
<br />;�; ,.��'.t'�.,
<br /> � ,,Er;�,;� lf Am�mwer ter��ers ta Lender the full payment af nll sums secured bythis Sccuriiy lnstrument,Baaowerk aa:ount
<br />`.;',..�! i`.° Y shul�be creclited wi�h t1�c baJance rera�ain�ng for all inscallments far items la). it�) and (c) and any mortgage inaurance
<br />::=;;�;: ������ ;r,�'4 ' � premiuin inttullment that i.ender hu not became obligated to pay ta the Secretary.and Lcnder shall prompUy rofund any
<br />,F:,� cxccss fu�ds to Bomuwer. [mmedietely prior to a faecloaure salc of the Properry or its acquisitfon by Lender.Bmrower�a
<br /> �'� � accaunt shall be credlted with ar�y bplance remaining for all installments for items(a).(b)end(c).
<br />.;�;`• :`�'�• � 3. A Itcadon ot Paymante.All paymenls under Paragraphs 1 and 2 shell be applicd by Lender ae follows:
<br /> �to thc mort$age insurance premium to bc paid by Lender to the Sccnelary or w the moothly cherge by tho
<br /> - Secre instead of the monthly mortgago insurance prcmium;
<br /> I �,to eny taxea.specld as�essments.leaseFwld poyrtknts or ground rcnta,and fire.flood and othar har.and
<br /> insuran�x prcmiuma.as requircd•
<br />__��• THIRn,in;p��rxt due under the Natc;
<br /> ��to iunottiziuion of�hc principal of�hc Note;
<br /> �,w I�te charR es due under the Nac.
<br /> 4. Fire,Flood and Olher Hwnrd InsurAnce. Born►wcr xhull inxure all improvcments on the Fhopeny.whethar nc�w
<br /> •�• in existence ar sub�equently erected, ogainst uny hwsrds.caxuaUieti,und conlMgencles,inclnding tire,for which L.ender _
<br /> . •.�� roquircs inaurnnce. 'If�is insuranco shall be maintained in Ihe amaunls wKf for the periads�hat l.ender neyuires. Borrowcr
<br /> . �,,,�;� shsll also insurc all improvements an the Propeny,whether now in exiF�ence or subxequently erected.ugainsl loxs by Iloods
<br /> ��?�;;°:,,',���1,�'.�� � to the eatent�equircd by tha Secremry. All insurnnce shall ba cnrried with compnnies a mved by Lender. 'ILe insurance
<br /> •�r•,:�.: --
<br />- �,t;r�.e.��`; p�licies and any renewule �hnll ba held by Lender und shall include loss puyable c auses in favor of. and in a forrn --
<br />- °u� . � acceptable to,Lender. _
<br /> In the ovent of loss, Borrowcr shull give I.cnder immedinte notice by mail. Lender may make proof of loss if not -�
<br /> ��•-•- •��-=: �-. �N, � made promptly by Borrower. Each insurance company concerned is hereby authorixed und directed to make puyment for =
<br />`-'"' .�;-;,,.; � •:•�.'.'.`� � such loss di�ctly to Lender,instead of to BoROwer and to Lender jointly. All or any part of the insurance proceeds may be _
<br /> � Y.,i��.'•`� � _ � applied by L.ender,at its oplian,either(a)to the reduction of the indcbtedness under Ihe Note and this Security Instrument, —
<br />• ;°F.�,j,�:°;;;':.,r:;": , �g
<br /> - � �t57'�i`'�Y"rv l�y`.'� r'r.. �rst to any delinquent amaunts applied in the arder in Pamgraph 3. and then to prepayment of principal. ur(b) to the __
<br /> �,,,: �:.��;,:.,_
<br /> '• ..,����;..,���;,.;� �.;.�. restoration or rcpair of the damuged property. Any applicution of the proceeds to the pnncipal shall not extend or postpone ''
<br /> ':,�.� {. a�;:
<br />" ,'. ��6�t::. ,Y`�'',.��'�::��; Ihe due date of the manthly paymeats which ure referred to in Puragraph 2.or change the amount af such payments. Any
<br /> ��;"���'�a� ';'°.• `�>: excess Insurance procceds over an wnount required ta pay all outs�anding indebtedness under ihe Note and this Secudty f;;
<br /> ,��' �t��;����;, _ � �7'� •` lnswment shull be paid to the entity legally antitled�hcreto. `;
<br /> �t•t_��..4..
<br /> 3�,,,��:��},�;fi;=.,�:1;''�• in the event of foreclosure of this Security Instrument or other trnnsfer of tiQe to Q�e Proparty thpt extinguishes the o:,
<br /> •�fr,{�.r,�.�a;.. _;. indebtedness,all right,tiUe and interest of Borrower in und to insun+nce pollcies in force shnll pus�to�he purchaser. _
<br />:,'�" _��,:„ `•' ,,�,; 5. Occupancy, Preservation, Maintenance ond Protectlon oi'the Property; Borrowers Loan Applkat(oo; �
<br /> ��; > I.easeholds. Borrower sh�ll occupy. establish,und use the Property as Barrower's pr�ncipnl residence within sixty days v
<br /> �,t:.; .�� .y �„t; —
<br /> � ;����, after the execution of this Security Instrument and shall continue to occupy the Property s�Bom�wer's principal rexidence
<br />""�� .•-"•�•' ''' for at least one yeur afler the date of occupancy,unless the Secretary determines this reyuirement wjll enuse undue hardship
<br /> �i:�_� ' �,:::.•:. ,
<br /> - , ., for Borrower, or unless extenuating circurristunces exiet which are beyond Borrower; control. Bnrrower ahall notify
<br />°'�; ��,�;�,;;.:.�� L.enders of any extenuating circumstances. Borrower shall not rnmmit wu,�e or deslroy,damage or subsluntially change
<br />,• h`• • the Property or nllow the Property to de�eriomte,�asonable wear and tear excepted. Lender may inspect the Propeny if the —
<br /> ' • . Property is vacant or abandoned or�he loan is in defaul�. Lender muy tnke reasonable action to protect and preserve such °
<br /> . • � • � " �< < vacant or abnndoned Property. Borrower shnll also be in default if Borrower,during the lopn Applicution process,guve =_
<br /> • •, � .. � materially false or inaccurnte informaiion or statements to Lender (or fuiled to provide Lender with any matenul __
<br /> :; inTormaUon)in cannection wi�h the loun evidenced by the Note,including,bul not limited to,represemations conceming ��
<br /> • Borrowerk cecupnncy of the I'ropetty ac a principul rcsidence. If thix Sccuriry Imtrument is on n leatiehold.Bomower shull
<br /> � . • ' ' . comply with the provisions of the leatie. If Bomower acquire+fee tiUe to the Prnpeny,the leasehold und fee�iQe shall not C-
<br /> • �`'�"�� ba merged unless Lender ugrces to ihe me�ser in writing. �
<br />. ' y;.`;..,. �.
<br /> ��� '� 6. Charges to Borrower�nd Prulectlon of l.ender's Rights in the Propertv. Bo�rower,hull p•ry oll govemmentul _-
<br />•• `'.;,'.;;:,;'.:..��.„ '. , or munici al char es,fines and im tiitions that ure not included in Pum�r� h 2. B�rtuwcr+hall a �hese obli ation�on `
<br /> P � P�•' 6 p P'Y 8 �
<br />_ '":'��" °� ` time directly to the enlity which is owed the puyment. If foilure to pry would aJvenely uffect Lender z interext in the
<br /> _ • ;,F,,�F,;-; . ..� ' _.
<br /> � ,:` . ;, Property,upon Lenderk request Borrower shall promptly furnixh to Lender rcceipts evidencing these payments. C
<br />=;�.'� ;.{�'r;.7;.�.;:��.1.,���,.� [f Borrower fails to ms�ke thesc payments ur �he paymentn myuired by F�uragraph 2,ar failn to perform uny dher _
<br /> _ f-�
<br />_,�, ' covenants and agreements contained in thic;Security Instrument,or there is u legul praeed{ng thut mny significsuiUy n(fect
<br /> - � 1�.ulMrts riahra in thP Pmrrrw faurh i��n nmceodino in hnnlcrunlrv. for rondemnnlion nr�o enfnrce Inws or reaulntionc). �-
<br /> �1 �'�'�� � lhen Lender may do and pay wh�tever ix necessury to protec�the vulue of the Prupeny and Lenderk rigMs in�he Propeny. -
<br /> � + ,��•�� •' including payment of taxes,hazard insurance nnd other items mentioned in ParngrAph 2.
<br /> _ "•' ..'�."'r'."'`.`"'' My amounts disbursed by Lender under this Para�raph shall become nn udditionnl debt of Borrower und be secured
<br /> `:._ by thls Security tnstrument. These amounts shall bear mterest from the date of disburgement,at the Nole rete.and ai the '
<br /> = `. • ' • option of Lender,afis�01 be immediately due and payable. �'
<br /> �`' � - 7. Condem�tlon. The procceds of any award or rlalm for damages.direct or consequentiul,in canneciion with any r
<br /> : •: r,('; . "''
<br /> ..... ...,i{;�: -,� S
<br /> •;,'S+ �; .e�s;1 S�;y.r,, •..�� . . eondemnatian or other taking of any pcut of Ihe Prc�eray,or far conveyance in place of condemnation,are hereby avsigned
<br /> ��� l+r �� �;. �„� and sha11 be aid to I.ender to the extem of the fu01 amount of the indebtedness thet remains un afd under the Note and this
<br /> ��°• �. �',�'•� il�" ' P � P � :
<br /> r �� �' �r`t�!�;;;'�' Securlty Instrument. Lender shell apply auc6 praceeds to the reducuon ot the indebtedness under the Note and Ihis Security �
<br /> .�t;}•..t� ' ,t'.��,°;;�, , t�' '� 3
<br />:r:�,.r�; � ��� ,i � Insmiment, first to any delinquem amounts applied in the order provided in Paragraph 3, ond then to prepayment uf
<br /> ����'�• ���::1' ,�•�'{;1 prLiclpal. Any application of the proceeds tn the principal shall not extend or poatpone the due dete ot the monthly �-.�'-.�
<br /> ;�,�'� ;r -, -�fs��.,,�,,, -::,
<br /> :,�� - 1���Y:�d„4G>i'..
<br /> ��-'S� -�i�;.,r:•,n41•J.:�_�q,: IpaR<2 uJ4 pag�al
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