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<br /> 1. a�P�ri�c1M4�A4trat�d I.wte CM�e. B�r�war�b�!p�y wba�due p�lncipal
<br /> tir drbt ev�oe�d by.Ihit Note and Wqt chlu�a due uader�he Note.
<br /> 7. Matbly pn�1�nW1 o1r Tsze�,lwauts�ta,rul�d�Ml�er�r�. Horrov�rer�hdl iaclude in euh monthly WYmea�,
<br /> to�elha with tbe prJr�aig�!aad int�rGt u sot fvNt.�»the Nde u�i�ny lata chagcs.�n iniWMent of aay(�)taxea and
<br /> spx W u�esunenle Isriad or to be levicd wgain�s�ha P�o�larty.(b)le�ehold P�Yme�ts or�round renu ao the Pirope�ty.�r1 --
<br /> (c)P�m)wne for 1n�urance roquLa�d by Pl�r�gc�ph:A,
<br /> F�ah mon�Wy in�qliment fa ttemb(s).�lb?an4(r) ahall�equd one-twelfth of the annual wnounu� �reasombly
<br /> e,uiroAted by L,pul,er, piue an arnount suPfiaknc w malntnin an additional bal�nce of no1 moro than one-six[h of tlie
<br /> __—_-----' e�timated artio�unte. '('ha tbU�anoal Nnount�for eACh item stWl bo accumulaud by Lender within a pedod cnding oae �---
<br /> month befare�n item wouN bacoae delinquanf.• l.ender s1W1 hoW�he mwwits collected in tnat w pry i�em�(a).(b)and
<br /> (�)befarc they 6ecana deltnquant.
<br /> It at any tima tlWe Wml of tl:�o pw t�m�mta hald by Lender for items(a).(b)wd(c).together with Ihe fuquc monthiy
<br /> paymGUa for auch itctna pa►yobla to der p'lot to ihe due datea of such items. excads by mone tlun ane-sixth tl�e
<br /> -= estf�ed a�oowu of paymmta nquined w y auGh jtans when due,and if pa y, ts on the Nwe ara curnn�Wrn L.ender
<br /> shall either Rfw�d thc exceas o�er one-six�af,tba eRWnated paymaits a c�ecLi U Cx�:�n uv�r one-sixth oP dtie estinatcd ----
<br /> - ------- -- psymcn to sub�equant puymenta by B�arrowec,pt�tha optian of Borrowor. 11'tha total of 1he payments nwdt by Borrowcr
<br /> af item(�),(b).ar(c)is iiusut��cient W pay!ba iusm whan due,then Borrower sfiall pay to I.endtr any amount neceasary to - -
<br /> mdce up the dafkiet�ay on or bcfae tba deta thrt itsm becomea dua.
<br /> Ay used in thia Secnritx Gaat:utnen�,"Secn�tary"maane tha Sec►�tary of Housing and Urbon Developm�nt or his or he�
<br /> . desi�r�ec. In any year in wtuch t!u L�aider must pay a mort�oga insuranoe premium ta�he Secretary.each monthly PzYme�t
<br />-,.��: slwll Wao include either. (il an ine�alLnant of Ihe annu�l mortgage insurance premium ta be p�id by Lender to tix _
<br /> Secretary, a(ii)a mon�hly churge instaad af•e mrxtgage insurance prcmium if this Security Inswment is held by the
<br /> - Secretary. Each ro�anrhly iastallment of tha mnrtgoge insurance premium shall be in an amount sufficlent to accumulate th
<br />_ fu11 wmual n�ortga� in�uraace premium wtth�Y,enc�ona mnneh priar ta the date the full ennual moAgage insurance =.____
<br /> •r:;�� mium is dua to the Sec ,a i�thie Security Ineuvmant�Ie held b the Secretary.each mon�hly charge shall be in an Q�s,.-.
<br /> • ;�,.,,r,;?� r . eu�nount ual to one-twel�ne-U�ill' ent oPthc aunwnding princi�pal balance due on the Note. �r?"
<br /> c.:�:_ �v�.,,��.. �Q U� �1CIC
<br /> ��+��J,�� . �;�t<<,ti;;�•-',�:, If Borrower tendars w l.ender the fuq payment of alt sums secured by this Security Insuument,Borrower's account !��,.
<br /> �.' , . shall be credited wUh the balunce rems�ining Por all installments for items(a).(b) end(c) and any mortgage insurance _"
<br /> � 1:;':;.�• . ini _
<br /> t::��: prcmium insmlLn�art.that l.eMer has not becoma obligated to pny to�ha Secretary.and I.ender shall pramptly�iund any _�
<br /> ..� ��1'�'°�� ; . exceas funda to Bortower. Immediately prior to a faeclosurr sale of the Pr+o�erty or ils acquisition by L.encier.Bomawerk
<br /> y• s,.;• ,- +i
<br /> , �;±,,�;"�;. �' •�ti account ehall bc creditad with any balancc rcmafning for alE inatallmentx for icems(a).Ib)end(c).
<br /> :•F•: •• :� ; 3,E�A_pylicatioa ot ppymenh. All pAymantn undcr Par3gmphs I and 2 shall be applied by l.cnder as follows:
<br /> •,,�; �'•,�:�..: ��
<br /> , ,_ ; . • �T,to the mortgage insurence piem�um�to be pnid by Lender to the Secretary or to the mon�hly clwrge by 1he
<br /> �;''�3'�,'���'� ; •iAet Secne inetead of the monthly matgaga inrwrance premium;
<br /> , ..'�::��".";��` � .. ` t .W any u+xes.special easea�n�nn+.leasehold paymen�s or ground rents.and fire.ttood�aher hazard
<br /> p w.��
<br /> ,r�r�v,� . _• inswance pamiume,as requlred: _.
<br /> --_ - w1�.c���„�,,,.a,n �.l�I�r�ic��e��ndnrfheNae;
<br /> ,�},••-
<br /> ,;;;1,;,�;.., ••,.5,:"'�"'� to r�n�tiaation o�fd�eprincipnl of the Note:
<br /> • .� ,';,�:�•::�f<���;� �Wur cdwrges due a+nier the Nute. _.
<br />_ . . ,w.�`..�✓., �i�.ldi�y
<br /> ;,:._;,�, �,,5 cS.Y;;',.. � �. Fire,Fiva��sd OQlo�v i'rlaaud insurpnce. Borrower shall inswie all improvemem�on the Property,whether now
<br /> ' :''�"'<<`' �'�''°°` in existence or su�.�su7uenlly erccted,against u►y hnzards.casualties,and contingencies,including firc. for which L.ender _
<br /> + '•:;�''�:�:;�"{',�;?}.:`;�;: rcquines ioaur�nce. lTis insurartce shali bc mainr.uned in the+unounis and for the periods that Lender requires. Barower f;�,�.
<br /> . . ,;:;�>.::r� � rr��.�. •_ ,. _-_
<br /> •,ti;�rS;,�+`�R:�,,•;�,•t;.,:.,; shall�Isa insure a:z�mprovements on the Praperty,whether now in existenre ar subsequendy erected,ngainst loss by floods —
<br /> •;X�"��;f t'.;':?,•"^:#;� . W the exn:nt tequired by the Secretsuy. All iosurnnce shall�be carried wilh companies approved by l.ender. The insurunce
<br /> �.,...,
<br /> ' ",::ti�<'':::�`!�;�t::`:•�•� ' pol[cies and any renewals shall be held by l.ender and shall include loss payable cluuses in favar of, and in a fotm [`c!�°
<br />--,� '�,aj�;;,,i�`:,,;°�:;:;°;`.:�: ' occeptable to.L.ender. _'
<br /> s':''•� , e In the event�:oss,Borrower rhall give Lender immediate nwice by mail. Lender may make proof of loss if not
<br />„�i . , „.,�;..;, .�a•.��� �
<br /> _y�, �k�,��•.�:L�,�!:., � made promptlq by Borrower. Each insurnnce company c�ncemed ir hereby authorized and directed to malce pnyment for �,_
<br /> ,,. "-•�. ., : ..,,
<br /> • � suah�loss direccly�o i..ender.instead of to Borrower and to I.ender jointly. All or uny pan of�he in�urance proceeds may be �.
<br /> � • ��'+���'i�: �'. ,' appliad�by Lender,at ita option.either{a)to the reduction of the indebtednes.c under the Note und this Security Instrument,
<br /> :.,.,;; :,, . .. �
<br /> ' .•,"��;'��.;..�";�,r .�i fast.la ony delinquent nmaunts �pplied in the order in Pcvngmph 3. and �hen to prepayment of princip�l,or(b)to the _.
<br />_ ,,. , :.,.:;i�:i�.��.;:"-.. resturotion ur repnir of�he dame�ed pmpeny. Any app1icWtion ot ihe prc�ceeds to the principul shnll not extend or postpone __
<br /> � � ' tha due dnte of the monthly payrnents which sue referred to in Puragrnph 2.or change the amount of such payments. Any ���:+.
<br /> . �;�;���•'fz?"' '.� � excess insurance proceeds over an amount required ro pay aN out,�anding indebtedness under the Note ond this Security -
<br /> �'�'° • Inst�ument shnll be pnid to thc emity legs►Ily entnled thereto.
<br /> � . • ° In the event of foreclosure of�his Security Instrument or other trnncfer of tiQe w the Prnp:rty thu�extinguishes the ��' `
<br /> , ,�;,,. : , ,
<br /> indobtsdness,all right,title and interext of Hormwer in and to in�uranre policie�in force shnll pu�s tn the purchaser.
<br /> - ��"` y' '� '��",'•�': ` S. Occupancy. Preservatbn, Maintenance and Protection oi the Prapeny; Borrower's Loan Applicalion; ---
<br /> .� _.
<br /> - � :,.,' � ���:� Les�sehold9. Borrower shull occupy,establish, and u�e the Property �s Borrower;principul residence within sixty days t''' '_:
<br /> .::;' ';�� ���� � after the execution of this Securily Inrtrument and xhnll continue to occupy the Property u+Borrower's principal residence FL.--,
<br /> '_c�'y: � ' for at least one year sfter the date of accupuncy,unless the Secretary de�ermineti this reyuircment will cuuse undue hardship n_
<br /> :-.•' . for Borrower. or unless extenuuiing cireums�ances exi.r•t which ure beyond BoROwer's cuntrol. Borrower shall notiiy ,o,,,=�
<br />�'�•�� �� , '� :!'� ` Lender�of uny extenuuun�circumctances. Borrower shull ncN commit wmstc or dertroy,damuRc or substunliully chtutge ��:-
<br />% .• ':::�:'� ..... .
<br />;� , .; ., •,;:,4;� � the I�ropedy or allow tho Propercy to deteriorute,reuxonable wear mxl teur excepted. Lender may�n,pect the Property if the ��. .
<br /> Y: • ?s�� „ • '..'%'� Property is vucant or a6andoned or�hc lonn is in dcfuult. Lender may lake rea�onuble nction to prrnect and preserve such •
<br />° � varant or abnndoned Propeny. Bortower shull ulxo he in defuult if Bartowrr,durin�, thc Icrrn applicution process,guve � .
<br /> : . ��:� •,�r�-�-�.���� , materioll� false or inaccurate infcxmution or slatements to Lcnder (or fuiled to providr Lender with any ma�erial
<br /> '� infermat�on) in connection with �he lonn evidenced by thc Nc�te, including,but not limited lu,representutions conceminR ' '�•
<br /> . Borsower!e accupancy of the Ropeny as a principol re+idcnec. If this Secunty Inrtrumrnt i�un u lea+ehold,Bcxrvwer shall
<br /> � �' �,r t: comply wiih the prov�sionti of thc Icuse. If Borrowcr ucquires(ee�iUc to thc Propeny,the IeuxeholJ s�nd fee title shall not
<br />_ ',�.'•, � be merged unless Lender ugrees�o thc mergcr in writing,
<br /> ' ' '`` 6. Chargea to$orrower aad Protectlon oP Lender's Rlghts In the Property. Borrawrr�huH puy ull govemmentul -
<br />- ' .��; l�•� �" ° � or municipul charges,fines and impositionx that ure not included in P�aragruph 2. BoROwer shull pay thexe obliguiions an �'
<br />;;;,_,�";: ,4 ��� -���.�..,,t`��.,::�`.� time dinecUy to the entity which is owed the puyment. If failurc�o pay would advcncly uffect Lender's imere�t in Ihe �
<br />':?�'>� },a�-.::•;,:;:�;i.j• Proparty,upon Lenderh requext Borrower shall promptly fumish tu Lender receipts evidcncing�hese payrnents. ��
<br /> . � :4,::�. If B��rower fails to make ihe:ie puymcnls or thc puyments rc��uimd by Puragraph 2. or fuilx to perform nny othzr
<br /> ° covenents and agreements cantained in�his Securfry Instrumem.��r there i�n legal pra:eeding thut moy �ignificuntly affect
<br /> -m�.• `•� �...�.I�r�r;ohrK�n �M Pmnenv�surh nc n nmceedin¢in bankn�otcv,for condemnution or to enforce luws or rc�eulution+).
<br /> - :' t ' then l.cnder mny do and puy whatever is necesyary to protert the volur of the Propcn�and Lendcr's righlx in the Property,
<br /> . • �� including paymont of taxes,haznrd insurnnce and othcr uems meMioned in P�aragr•rph.. �
<br /> � � ' Any amounts disbursed by Lender under this Pnr.��truph shall becomc an udditionul debt of Borrower and tx:secured ;
<br />'.;,;�r . . �., " �� by this 5ecurity lostrument. The�e amounts xhall bear mteresl from the dute oF ditiburscment,at the Note n►tc.and at the �
<br /> option of Lender.shall be immediately due and pnyable. �
<br /> ��-'� ? � � 7. Condemnation. The proreed4 of uny Awurd or cluim for dumuges,direct or conseyuentiul,in connecti��n with any
<br /> "-°— � V � . condemnation or other taking of any part of the Property,or for convey+uke in place of candemnutiun,are hereby•r»igned `
<br /> -'�=+'�� � "�k�""•"'`� � and shall be paid to l.endcr to U�c ex�ent of the full�+mount of the iixlebtedness thot remuins unpaid undrr thr Notc und thi� �
<br />��'� ' ��••� ••%� Security Instrumant. Lendrr shull apply xuch proceeds to the reduc�ion of the indebtedne..r•undcr the Note und this Security
<br /> - � � •- InstrumeM, first to any delfnquent omountc upplied in the order providcd in H�rugruph 3, und �hen to pn:puyment of
<br /> ' . � ����+' principal. Any spplication of the p�viceeds to the principal shall not extend or postpcme the due da�e of the monthly
<br /> ' � .��•:..4:3'4:� a
<br /> °. '.�"'• 1►k+gr 2 ajJ pug�s!
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