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<br /> t. �f Perdp�.IYernt a�d!.w C��t. Bamcwu�IWI p�y wba►due t�e pdncipd d.aod iaweq oa,
<br /> th�4ibt��by the Nao anA luo chW�es dne under tta No1e.
<br /> t, MMfUi��►ww�ht 1t'1Yx�I�wua�OfYet CM�e�. &xrowet alull include in ach ptoiMbiy P�yn►aM.
<br /> � �o�qher wid�the princlpel aid in�+eu�s�et fonh ln tbe Nde�ad�ny l�ao�e ch�a,�n imtallmene ot ny(a)Wca and
<br /> ' sp�eci�l a�ud�aM�kvied or w bo Iaviad a��t tlie Ptopaty�(b)Mwl�oid p�yir�aw or po�u�d rem ao dr Prap�ty.�ad
<br /> ta)pemJwau�for Luwraixe roquind by ParaarapA 4.
<br /> Piob monthly�a�t for items (�). lb) �nd (c)�IWI eqwl one-twelflh d the mnwl �nrouiw.as ie�ron�bly
<br /> e�tim�tad b� L.enda, dua m amount eufficknt to rtwint�in�n �ddidand b�l�noe ot not moro tl�a�one-�qh,aG 1M+
<br /> -. �--�-'�--_�-_---� es�drpwtad�um►►�nta. TGe full tuuival �tnowk for e�ch item ztwll be�rxumulsucd by l.ctidce withiq a perlod etlQitlg ena
<br /> mondr bofim�sn.itam would 6ecoma detinquent. t.ader�11 fiold�he�mouda oollec�ed in trwt w p�y ita�as(+��,(bl•�d�!
<br /> (c)bafom thay baaome delinqua�u.
<br /> !f at�ny dma tl�e toW of 1he paymetw heW by Lender for itema(�).(b)md(c).toaether witlt Ihe tuturo m�mthly.
<br /> �ymonta foc such item�p�yRble w l.ender prior w the due dues of wch itcros.aaceed� by irwee�h�n oea•d�th thp
<br /> - --° eailmat.:d wtiw�mt of paymezxs r:,quir�..d topry such itetbs when d�te.and if pn t�r+n tfie Note ae cumont,tiMn�I.�ndar.
<br /> zhaU eitf�er�vfund tho exctsa over one-sixth of tho est�mtted payn�r�u a c�exceas avu oae•sixth of the estimntad i
<br /> ' paymrnta w aubsequent payment�by Borrower.at the option of Bo�rower. U the toul of the psymaue m�de by B�►rtr�wivr
<br /> - i for item(�).(b).or(c)is insuff'icient to pay the itan when due.tf�►Bormwer sh�il pay to l�endar M►y a�wunt aeoesqty w�
<br /> � mdce up the deticisncy on or beforo tbe dAte�he itan betomea due.
<br /> , Aa u9ed in thie SecuRty Insuument,"Secnewy me�ns the Secretary of Housing aod Urban Develqpptont or hip or Mn'.
<br /> i darlgnao. Tn my yeu in w6ich the Le�er must pay p mortgoge insurance premium w the Socnewry.aach mantbly p��nt�.
<br /> � shW�slea inalude eilher: (q an instaUment of the armual mo�tgage insurence p�nium to be pwtd by Lander w tha
<br /> I � S+ecrotary��or,.(ii)'�maWhly charge instead of a martgage irisurance pranlum if thIs Security Inqn�mant ie bald by+.tha
<br /> Sacnatary: �aah,monthly insuliment of the mortg�ge insurance premlum shaU bc in an amaunt wffioiemt�w accumuiwt�tha
<br /> - -�� �U�mnual::martgage iasuraace prcmium with Lender one month prior to�hc date the full annnel�mmtIIege inwmaaa
<br /> pramium�ia due w the Secnetaty;or if this Security Irtstnu�xnt is held b�r the Secretuy.each monthly chaTga th�ll'bb in�n•.
<br />-•�,— +�mount�equal•w one•twelfih of one-half percent of the outst3nding princ�p�nll bAlance due on the Note.
<br /> ,.� If Bdrmwer te�nders to Lender the full priyment of all suma socurod by this Securiry Inauument.Bomowort s►ocaunt,
<br /> �� si�aU ba cmditad with �he bdena remeining for all instellments for items(a).(b)and (c) and eny mortgago 1nFUmnae
<br /> - prcmtum itwtoltment thot Lrender hes not became obligated to pay to tfie Secnetary.and Lender shdl�pranptly rofund pnN•
<br /> �;:. exoeas fwids to Bomnwer. Immediately prior to e foreclosure sale of the Property or i�s acquisition byt l.endar.Borrowarl��.
<br />=°;(:, acrount ehaU be credited witA any balonce remaining for all instalimcnta for itema(a).(b)end(c).
<br /> ';;+, 3. Appda�Non of PYyoenb. All payments under Paragrnphs 1 and 2 shall be applied by L.endor as folldwc:
<br /> ,,;��; �.to the mortgage insurance prcmium to be paid by Lende�to tha 3ec�+ewry or to Ihe manthly chw�go•bN tfi�h
<br /> �'�� Secrotery instead of the�aon►hly mortgage insurance�cemium:
<br />:.:};'`� �,'&Q�.to any la�ces,special ascessmenta�leasehold payments or gmound rents.and fire.flood and other bprwd
<br />:i;'.�� insurancx premiums,asrey uiied; .
<br />.�:;�'? ��to intetest due under the Nou;
<br />..-'' ` — �Qj�.to amortizatia�oi the principal of�he Nate: ,
<br /> �'. �,to late charges due under U►e Nae. ,
<br /> . . �;,: 4. Fire,F'lood and Udler Ilazard losurs�nce. Borrower shall inaure all improvements on the PrapeRy,whether now ,
<br />-`:� ti�-• in eaisten�e or subsequently erected.against any hcv.erds,casualties,and contingencies,including Pn,for which Lender
<br />-••'�'�' ! requi�s inaurance. Tids insurance shall be maintained in the amounts and for the periads�t►s+t l.ender requi�s. Bortower
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<br /> �.,... n ,.� shall also insure all improvements on�he Property,whethcr now in existence or subsequentiy erxted,againat loss by floods
<br /> to the extent requitrd by the Secretary. All insurance shall be carried with companies approved by I.ender. The insucance
<br />•- po8cies and ony renewalr shall be held by Lender and shall include loss payable clauses in favor of. and in A fotm
<br /> �<. � acceptable to,Lender.
<br />. In Ihe event oi loss, Barower shnll give Lender immediute notice by mail. Lender may make proof of loss if not
<br /> •,�,..;�,,..r � made pranptly by Bortower, Each insurance company concemed is hereby authorized and directed to make payment for
<br />°������ ' a:^i����� . auch loss dirr.cdy to Lender.instead of to Borrower and to Lender Joindy. All or any pnrt of the insurance procceds may be
<br /> 'i-�'�:' ��� �:��,:=�•,.:;,.,�-. ap�icd b Lender.at its o pon,ei�hcr(a)to the reduotion of the indebtedness under the Note nnd this Secun Inatnimen�
<br /> ix!�;'.. �" '''.,,t' Y P �Y
<br /> + � �r e t to eny delinqumt amounts epplied in U�e order in Paragraph 3, und then to prepnyment o f princ ipa l.or(b)to t h e
<br /> �---�':"?;�i j` re�toratwn ar repair ot ihe dunnged propeny. Any applicotion uf�lie p�u�rc�is to the principul shull not extend or postpone
<br /> • '?A0�`'^a4��"'''"'�`�"' the due date of the monthly payments which are referred to in Puragraph 2,or chunge the umount of such payments. Any
<br /> •� ���a,,F �•`: excess insumnce proceeds over en amount required to puy all outs�anding indebtedness under the Note and this Securiry
<br /> 'Ay'�?=�s r • � ?` Inswmmt shell be paid to tl�entity legally entitled lhereto.
<br /> ':::�"r; .' : .1;;It
<br /> ,,,u.�y��,,. , , . In the event oi f�neclosure of thia Sc,�:urity Instrument or other Irnnsfer of title to the Propeny that extinguishes the
<br /> .. ,,;;;�^'� ;��„ • -�;;, indebtedness,nll dght.title and intercst of Borrower in und to insurnnce policies in force shall patis to the purchaser.
<br /> fr,. , � ��;; S. Occupancy, Preservatlon. Maintenance and PrMection oP fhe Property; Borrower's I.oan ApplicAdon;
<br /> ' � a••�� !� Lea.gelrolds. Borrower shall occupy,establish,and use the Praperty as Borrower's principal residence withEn six1y days
<br /> •`' �"" ���`-"E' �',' after the execution of thiF Securi�y Instniment And shall con�inue to accupy�he Property as Borrower's principal resldence
<br /> ;`r�` "`"`" Il' for at least ono year after the date of occupancy,unless the Secnetary determines this rcyuiremem will cuuse undue hardship
<br /> t';�_ for Borrower, or unless exienuuting circurristunces exist which ure beyond Borrower's control. Borrower shull notify
<br /> '' r `��,�' ;� .. . Lenders of any extenuaUng circumstances. Barower xhall not commit watite or des�roy,dumage o�substuntially change
<br />' �"t":�(,;;;��°�' � tMe Propeny or allow the Praporty to deteriornte,re�sonahle wenr nnd tenr excepted. Lender mny mspect the Propeny if�he
<br /> ••• � Property is vacent or abendoned or the loun is in default. Lender muy take rcusonnble uction to pmtect and prererve surh
<br /> ' . vacant or nbandoned Property. Borrower shall also be in default it'Borrower,during the loan application process,gave
<br />- , • • •,: materially false or inuccur�te informution or �tutemcnts to Lendcr (or fuiled to pruvide Lender with uny material
<br /> iniormalion)in conneclion with Ihe loan evidenced My Ihe Notc,including,but not limited to,representations conceming
<br />. ',-., �' ' Borrower�accupancy of the Propeny ns u principul residence. If thix Security Inxtrument ix on a leatiehald.Borrower shull
<br /> �.:�; comply with the provisions of the Ic�se. If Borrower ucyuims 1'ec litic to the Propeny,�he lev>cehold and fee title ahall not
<br /> _ ,,,: be merged unlcsa Lender agrees to the mergcr in wri�ing.
<br /> • •� 6. Charges to Borrower and Protection of Lender's Rightx in the Prnperty. Borcowcr,hull puy ull governmental
<br /> �; .� .' ' ' or municipal charges.fines and impositiunx that arc not included in Pu�s�graph 2. Borrower shull puy Ihese obligations on
<br />-��,;.'.: ; •,,'; �;'.:` _"� ' tlme direcHy to the emiry which is owed the puymer�t If fuilure to pay wuuld advenely affect Lender's intcrest in �he
<br />-�° �`�?�� • ; Property,upon Lenderb request Borrower shall prompdy fumi»h to Lend:r receipth evidencmg these pAyments.
<br />-`��• .<,.�..�.;r��". If Borrower feils to make thcse paymenta or the payments required by Huagraph 2, or fails to perform any wher '
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<br /> -L'_ '�:.:t'�"z:y-�•-• covenants and agreements crontuined in this Security Instrument,or Ihere i.u legul proceeding that may significundy affect
<br /> --- Lenderk rights in the RapeAy (such as a proceeding in bankruptcy,for condemnnlion or lo enforee lawx or regulutions),
<br />..�c:t �•,�"�:;,,�,�. ,�;,�� then I.ender may do and puy whutever is neressary to protect�he value of the Property und Lender!s rights in the Propeny.
<br /> f' `�� � �� includin a ment of taxes.hazard insurance su�d other itema mentioned in Para raph 2.
<br /> .� <„ sr::;::;,.. B P Y 8
<br /> e I r'f� ������ �� �•°� '•' Any umounts disbursed by Lender under this Puragraph xhall becume un�dditionul debt of Borrower und be secured
<br /> . _ 'i�?��±�? ��r�:,.. by this Security lnstrument. Thexe amount�shull bear intcrest from the date of disbursement.at�he Note rate,und at the
<br />- '�`^ '�' option of Lender,shall be immediotely due und puynble.
<br /> ��"" °""" ' 7. Coademnation. 'Ihe proceeds of any uwnrd or c1Aim for damages,direci ur conseyuemial,in conncction with cmy
<br /> �'. . . •.o..:
<br /> ����^;�.j„�.�.*���:�,� condemnation or other taking of eny part of the Property,or far conveyunce in pluce of condemnatio�,arc hereby�ssigned
<br /> �. , �` and shall be paid to Lender b the extent of the full umount of the indcbtedness thot rcmains unpaid under the Note und this
<br /> �y'`" Serurlry Instrument. Lender shull apply such proceeds to the reduction oF the indebtedness undcr the Note und this Security
<br /> _'� �,,,z�;., � '.;;� ° Inauument, first to any delinquent amounts applied in the order provided in Parugraph 3, and then to prepayment of
<br /> _ �'� nci . M a lication of the mceeds to the rinci al shull not extend or st ne the due dute of the monlhl
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