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<br /> _��1 �� � gl�. 1U5469 �
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<br /> ��w�ji 1. P�yment o�Princlpwl,lnterest and Lote Charge. Borrower�hnll pay when due U�e prMcipu!of,wid intet+est on.
<br /> the debt evlrenced by the Ndc ond latc chuges due under thc Note.
<br /> ;�,�,�----�---- 2. Monthly ppyment�o�7Y�zee,1nwrAnce Aod Other CharRea Horrower�hall include in euch manthly pAyment. c _
<br /> ;_;���:a together with the prfncipo�end interest us set forth in the Note nnd nny letc churges,an installment of any(a)laxes ond
<br /> ;,� ' `; spocial assessmenta levied ar to be levied Against the Praperty,!b)leusehold payments or ground ren�on tho Piroperty.ond �
<br /> (c)premiuma for insurance reyuired by Pamgrnph 4.
<br /> �`` Fach monthly instaliment for items(a),(b) and (c) sball equul one-twelfth af the annual amuunls,a� reasonably
<br /> -^ �' - estimntecl by Lender, lus an amount sufficient �o mainwin an udditlonal bolunce af not more thAn one-six�h oP the
<br /> - - ---_ ___ --_
<br /> estimnted amounts. full annual amount for cach item shall be accumulated by l.ender within a periat ernling one `�'-
<br /> -,�_.,�.,�'�, month befarc an itcm would becomc deflnqurnt. I.ender shall hold the amoums collected in tn�st to pay items(u),(b)and
<br /> -----r'�-"i= (c)befcuo�hey become delinquent. �
<br /> _. �,� _
<br /> _ =°�,;,. If at any time the twal of�he pwyments held by L.ender far items(a),(b)und�c),tagethcr wl�h�he future manthly
<br /> - .��',�:� � poyments for such items p�yable to Lender prior to the due dates of such items,exceedx by more lhnn ame•sixth the _
<br /> - �•��•� cstimated amount of paymenta r�quired to pay such itcros when due,and iP pu ments an�he Notc orc cumenl.then Lendcr �.�,.
<br /> ��.:
<br /> _ ___ __,, �•,�•=�:' ahall either r�efund the eacess over one-sixth of the es�imated payments or crc it the excess over one-sixth of the estimuted
<br /> �::;�::,g� payments to snbsequent paymenl.s by Barrower,at the aption of Borcowcr. If the total af ihe paymcnts made by Borrower _
<br /> '^�-�+���� for item(a),(b),or(c)i�insufficient lo pay the item when due,then Borrower shull pay to Lender any omount necesaery ta
<br /> -___ ::. �{i make up�he deflciency on or before the date the item becomes due. �
<br /> � „ Aa ueed in thia Securlty Inatrumant,"Secretnry"means the SecretAry of Hou�:ing und Urban Development or hix or her
<br /> ___ � �;;k� deslgnee. lo any year in which the Lender must pay a mortguge insurnnce premium to the Secretury,euch monthly payment
<br /> "° �*u�• shall also include eithee (i) an installment of the annuul mongage insurance premium ta bc puid by Lendcr tu �he �.••__.
<br /> �'�� ��.~� aecretary,or(ii) a monlhly charge inslesd of a mortgage insurance premium ii thia Security InFtrument Is held by the =-
<br /> -'"`-`' Secrctary. Each monthly instellment of the mortge e insurance remium shall be in an amount sufficient to accumulate the
<br /> �:� .,x.��- � full annual mortgage insurance premium with Lender one m n�h prfur W the date the fbll annuul mortgag:in4urnnce ��
<br /> �.,:.,; .�d premium ia due to the Secretary;or if thix Security Instrument is hcld by the Secretary,cafi montbly churge shall be i�un E��-
<br /> -- J `Y`-�'�,'-'•"` artiount equal to one-twelfth of one-hulf percent of the outstanding princ�pul bnlance due an the Nate. � �
<br /> ;�;�•+�• ,.' .. � !f Borrower tenden to l.ender Ihe full pnyment of all sums secured by this Security Insin�ment.Borrowerti nccaunt .,;_,,�
<br /> -� ' � shpll be cr�edited with the balance remuining for all instaUments for items (u), (b)and Ic) und any monguge inau�ance �:°=
<br />- �.s,_ � �� premium insu►Ilment that Lender ha�not become abligated�o pny ta the aecretary.und Lender shall promptly refund uny `,�',,,�.
<br /> '�'�� . '�w'-`%� excess funds ta Borrower. Immediutely prior to a fareclo�ure sule af the Piropeny or ils acquihilian by Lender,Borrowerk i
<br /> """°'������° pccount shall be credited wilh uny balance remaining for nll instc�llments for item�(u),(b)und(c). �
<br /> �,.R�, �
<br />=�� ^„ 3. Ap�Ucation of Payments. All puyments under Parngruphs I smd 2�hall bc npplied by Lender as folbwe: _,_.
<br /> y_, . ' ' k18�T.
<br /> ,, to the mortgage inxurance premium to be puid by Lender to the Secretury or�o the monthly charge by the �.y__
<br /> '.;, ,�. �"�'- Secre instead of the monthly mort�uge insurancc premium: ���'
<br /> �' � '"."' ' �,to ony taxes,special a.4sessments,leasehold paymentx or graund r�nt�,und firc,flood and other huzurd
<br />--��� ' �..y_
<br /> -;;_:��; 1i t''�•', insurnnce premiums,ns�uired; __
<br /> -�:'" ,,,,,.. . ,.�� T�iiRD.[u�IiI2i25i diiC iliiQCi i11C�OIC: _
<br /> - �;i'.;;:..� � ;:! ��,to umortization of thc principnl af thc Nate; -_-
<br /> - �s1:�. � :. FIFTH,to Inte charges due under the Note. —
<br /> ;�;. .�''�".'`���'' '; 4. Fire.Flood and Other H�znrd Insurance. Borrawer xhall insure nll improvements an the Property,whether now
<br />- in existence or sub.�equently erected,Against any hw.ard+,casuulties, and cantingencies,Including tire,for which I.cnder �
<br /> . �; �:. ., . requires lnsurance. This insurunce zhAl l be mnintamed in the umounts and for�he periods thnt Lender reyuires. Bcxrower �-
<br />_- ' � . �• shall ulso insure ull improvement+on the Property,whetlxr now in exiti�encc or subseyucndy erected,aguinst loss by floads �-
<br /> .^� to U�e extent required by the Secretury. All insurunce shnll be cumed with companies npproved by Lender. The insurunce _
<br /> • policies and tuty rencwuls shull be held by l.endcr und shull include lass payubk clauses in fuvor of,enc! M u form �
<br />- � •°• , ' : aceeptuble to,Lendcr.
<br /> r In the event of loss, Borrower tihull �ive Lender immediute nutice b�• muil. Lender muy make prcwf of loss if not �_-
<br /> " `"�'� � mnde promptly by Borrower. Euch insumnce company concerned is hereby nuthorized und directeJ to muke payment for __
<br /> ;��, • ��_ ., such loss direcUy to l.ender,insleud of to Borrower and to Lender jnintly. All ar uny purt nf the in,urunce proceeds may be ,
<br /> y : '' ..�•:---« - a lied by Lender,ut its op�ion,cither(n)to thc reductinn of�hr indebtedness under�he Note ond�his Security Instrument, �,��
<br /> °•��'- ti ''~'. ' �rst to ony delinyuent amounts applied in the order in Purugruph 3,und then to prepayment of principal, ur(b)to �he _ --
<br /> °.' .,., restorution er repmr of the dumuged property. Any npplicution of 1he prcxeedti to Ihe principal�hal)not extend or pnstponc 4.��-
<br /> - .••U the due dete of the momhly puymen�+ which ure ret'erred to in Psira�!raph 2,or change the umount uf+uch payments. Any
<br /> • ��; � • eacess insurnnce proceedx over an umount myuired to pay ull oultitnnding indebtedness under the Nate und thix Security �'��'
<br /> '�r•-r`'� : �•:•x;,�ist. � Instrument shull be paid to the entit�Iegally entiU�d thereto.
<br /> ' �;'.;.,t;. In thc event of forcclosure ol Ihis 5ecurity Inxtrument or oihcr trunxfer of titic to�hc Property thut extinguishes the �u.
<br /> '�,- � ;- ' indebtedness,ull right,tidc und interest of Borrower fn und�o in,umnre policiex in f�xce,h�ll pasti lo the purchuxer. �
<br /> ' • 5. (kcupAncy. PreservAtlon, Mointenance and PratectMn of the Property; Burrower'� Loaa Applicatlon:
<br /> ' . '�"'""- ' l.easeholds. Borrower shull cxcupy. cswblish, und usc thr Rripeny u� Borruwcr's principul rc.idcnce within six�y duys ��M-
<br /> - ''"� after the execution oi'thiti Securiry Intitniment unJ shall comintx��o�xcupy the Propeny us Born�werk principal residence -
<br /> '. ' � for at Ieust one yeur after the date of occupuncy,unless the Secretury Je�crn►ines thi.reyuirement will cuuk undue hurdship =
<br /> for Borrower, or unlesx extenuuting circumrtunceti rxi+t which un� Ix:y�mJ B��rci�wer+control. Bortower rhull notify �._
<br />- . . Lcnders of uny extenuating circumslunces. Borrowcr.hull not wmmit waste i�r de��roy,dumugc or subsluntially chunge
<br /> •��' � the PropeRy ur nllow the Property to dcteriornte,reasonuhle wrar and tcar cxcepted. I.enJrr muy im�ct the Property if the '
<br /> '.., Propeny is vucant or abandoned or�he loun is in defnul�. l.ender muy tukc nu�unuble Lcti�m to pr�ncct and prescrve such ri•-
<br /> • • • � vacant or ubandoned Property. Barrower tihull also tk in Jefaul�if Barrowcr,during tlk luan appli�ulion proce+s, gavc
<br /> �,�, :: � materially fulsc or inurcurute infartnmion or stu�cnxnt� �o Lendcr (ar faikd tn pruvidc Lender with uny material
<br /> informuuon) in connec�ion with the loan evidrnced by thr N����,incluJing, hut not limiled to,reprcsentutions concerning ,
<br /> Borrowerti occupuncy of the Pmpeny u.u principul rcsidence. If ihi.Srrurily hi.�rumrn�is on u Ieasehold.Borrower shall ;
<br /> , romply with the provis�ons of Ihc Icu�c. If Borrawcr aryuirr. 1'cc�itic tu thr I�ro�xrty,Ihc Ira.rholJ und fee tille shull not
<br /> � be merged unlez,Lendcr ugme+w ihr mergcr in writinti. �
<br /> 6. Churytes tn Borrower and PrMectfon of l.ender's Ri�hls in thc Pruperty. fiurn�wer.hull pay •rll govcrnmrntul
<br /> or municip•rl chnrgcx,finc+anJ imp�»iiion+thut uR nai mclud�d in Nara�raph 2. Hurruwrr+hull pay�hr�r ubligaliuu.uo �
<br />- •- time direcUy to Ihe entily which i+uweJ the puymrnt. If 1'uilum to pa}• �vuuld uJvencly uffrri Lrndcr: inteR��in thc
<br /> Properly.u�wn Lender's rcyuexl 13orrower sh•rll pr�nnpUy fumi.h lo LcnJrr rrcripl.��•idcnrin�:thr�r paymcnt.. �
<br />= If Borrowcr fnilx �o mukc thc,c paymcnt. �,r�hr puynunt+rcyuircJ Ny Purugruph�,or fail. t�i p�;Hi�rm uny othrr I
<br /> ; covencm�s ond agreemcnt+�ontuinrJ in thi.Scrurity In.trumcnt.ur therr i+u Icgal pnxredin�th�t mu�'.��niiiruntlJ•ul'tcri p
<br /> "� ....1:.. .h..n4ru..�,�v tl�r.���nd�•ninidi�al nr tn�•�l�i�R•� �w•s or meulnliunsl. L
<br /> - . ' ` _ . . . .. . ti'_'�_... .... . ........ .. :.
<br /> . �.enacr�rigni�m�nc fllrFRl�� l.iu��� u..u �.�..r��v...r. ... .........��...�. ... _...__. ..... .
<br /> •, � , then Lender muy do unJ puy whatc�•cr n nrrr��uq�lu protrri�hr�•:�luc af'Ihr I'ruFxny anJ l.rnJrr's ri�!ht�in the Propcny, �
<br /> , irkluding puymcnt ot'taxc,.huiurd in�urunrr und olhrr i1rm.mrnlianed in I'uragraph 2. '
<br /> Any amoun�+di�hur.cJ by Lcnder undcr thi+Prr•r�ruph.liall ixr��me nn:�ddivanvl dch�ut'Hurnn�cr and lx+ecureJ
<br />• ,. by thix Securi�y Instrumcn�. Thc.r am�wnt+,hull tx�ar imrrr.t In�m �hr dutr ol'ditihur.ement.:n thr Nnt�rutc,anJ ut th�
<br /> optiun of Lcnder.+hull txr immcdiutrly Juc+mJ pny;�hlr.
<br /> 7. (:nndemn�tian. 'tl�r pnxccdti at uny:ia•rrd ur rl;►im fur Januigr+,dimc�ur runu yurntiul,in runncr�iun with�my.
<br /> �runJrmnotinn ar othcr�ukin�;��f uny pun of�hr I'ru�x ny.or ti,r convcy:mcc in plurc ai'ranJcmnution.arr hrmby u..i�ncJ
<br /> � unJ,hall Ix paiJ tu Lender to Ihc exl�nt ul'Ihe I�ull amaunt af thr indcbtrdne�.thut rcmain.unpuid undrr th► Nutc and Ihi,
<br /> Sccurity In+wment. Lendcr,hull upply.uch pnxr�Klr lu Ih.r.durl�on u(Ihr utdchleJnr++uixirr Ihr Nalr anJ Ih�s ticrurit}
<br /> In�trument, fin� tu uny Jclinyurm umoun�. �pplird in thc ��nkr pn»•ukd m I'uruEra�di !, unJ Ihrn tu pnpuymrnt uf ,
<br /> principal. Any upplir•rtivn ��f Ihr pnkrrJ+ ta ihr prin��pul .hall nu� r�ICnd ur ���q�m� thr Ju� Jutr i�t Ih� nwnthly I
<br /> „ � qti�er:��������e�•,� I
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