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.�.� � , _ . f �� . .- :
<br /> � � 93- �
<br /> 1. p� .r Prr.cJpd,r.at+a�u1a Lat.Cl�e�a.earower.h,��p�y when aue the princi�l oP,,ea I�NenM aa.
<br /> 1ba debt evldnnoed by ihe 1Vate md l�te cha�es due under tbo No1e..
<br /> 2. MaatW!P�7�d 71��us.i�wna�e�ad Otber CY�rla. Borr�aver xhdl inciwie!n e,�ch monthly Mymau.
<br /> to�ethac with Ihe p�incip�l and Gttereu iu�et lonh in the Nate�ad�ny I�oe chsrge�.�n insullmant ef�ny(�)Wces md
<br /> �pecid�s�maut kviod or w be iavied��inat tho Prope�ty.(b)lo�ei�oW paymentx or�round oents on th�Pa��a�ty.�nd
<br /> (c)pnemium�for inwrmce roquiral by P�n�raph 4.
<br /> F.�ch monthly imWiment fa items l�)► (b) +uid(c)ahtll eqwl ane•twelfth of the�nnud +�maurux.iu roaaubty
<br /> " e�n�od by l.ender. p!us an �unount cufGcient co maiiuoin an addid«wl bal�ncu of not more than cute-sixth of the
<br /> e�tim�oed amounu. Tf�o fWll mnwl amount for each itom ehdl be accumulued by Lender within�pe�od endln=ane
<br /> manth before an itom would bceome delinquena I.ender�ludl hold the�mouou collected in tnut a p�y items(a�ib)�nd
<br /> (c)befa�e they become delinquen�
<br /> If at�ny Wne the toul of the ppymenus held by L.ender for items(a).(b)and(a).together with the fbtum monlhly
<br /> paymente for auch Itemi pay�ble to i.ende�prior to the duo dete�of euch iteme, exceeds by �na�e th�n ane-eixth the
<br /> eadmeled emouet of�ymena n��ired topsy auch items when di�e,A�t if paXment+�en�he No�e aro cwrcnt.ttta�l.cndcr
<br /> shall eid�er r�fund the eaccsa ovpr one•sixq�of the esiimated payments or cnd�t Mo eacess over ane•sixtb ot thc catimtted -
<br /> payments w subseyuent p�yments by Horrower.u tho ogifon of Barower. If�he wtsd of�hc p�ymaua made by Borrower
<br /> for item(a)�(b).or(c)is inautlicient to pAy tho itcm when due,Uw.m Borrower slwil pay to Lcodar Aay�unount�oeo�saarY w
<br /> mwke up the deficie�cy on or befaro the dAle tbe item becomes duc.
<br /> _,,,� As u�d in thia Secu�i1y I�suumerw."Sacnet�y"means Ihe SecRt�uY of Housing and Ufian Development or hia ar her
<br /> desigrta. In eny year in which the l.ender mustpay•mo�tguge inswance p►emium to the Socr�etuy.each monthly paymont
<br /> ��'.`W+!� sh�ll also include either: (i)�►n iost�llment of�hc ennual neartg�ge insurar� pr�emium to be pAid by I.ender to the
<br /> ';�rt
<br /> ,_ ,�:��;� , Secretery.or(ii)A monthly charge insuAd of�moriBage insurance premium if�his Security I�suument is held by
<br /> --�. • . Secretary. Boch monthly inewllment of the mortguge Msurar�ce pramium shall be in an emount sufficient to accumuWe the
<br />_����;L ;� full annewl moAgage insurance premium with I.emder one month p�ior ro the dsuc the full annual mmtgage insurance
<br /> premium is due to the Secrctary;or if this Secudty Instrument is held by the Sec�etvy.each manthiy chuge shall be in an
<br />_ " �mount equal to one-twelRh of one-half percent oP the outatanding principal balu�ce due on the Note.
<br /> =; ., If Borrower tendecs w l.ender the full payment of all sums secured by this:Secu�ity Insuument.Bomowerls account
<br /> - shall be cnedited with the balancx remeining for all inatallments for items (al. V�b� artd(c) and any mortgage insurance
<br /> - �'"�{`;?; p�emium insuallment that Lender hes not become obligated to psy to the Secreta�ry.and Lender shall promptly rcfund an
<br />.:. ��,,;s excess ttu�da to Borrower. Immediwely prior to a foreclosure sale af the Propaty or i44 acquividon by L.ender.Borcower�
<br /> Acxount shall be e�dited with any balence remalning for all installments for items(a).(b)and(c).
<br /> �_. Ap�Ucntbn of Payments. All payments under Paragraphs I and 2 shell be applied by Lender as follows:
<br /> ��Z.to thc mongege insurance p�mium to be paid by Lendcr to the Secnetary or to the mon�hly charge by the
<br /> - Sacr�e mstead of the monthly mortgage insurnnce premium;
<br /> $�.to eny twces.apecial assexsmenw.leasehold puymenls or ground nerxs.and fire.flood and other h�a.�rd
<br /> - __ �_-..-s insurence p�miums,asrequired:
<br /> ��"�•`�`;'•1� gj($Q to intefiest due under the ha1e:
<br />- � �'�,��s=�;:,..r•!,>,.�,
<br /> �}.,�.s��,ct � FOURTH.to amortizatian of the pr�acipal of the Note;
<br /> �c:,Jt'�1.. .
<br /> ';�;;� ,.,.�'.,.. .,<.,.;P �,to lete charges du�under the Note. _.
<br />__ ..�5,=.. '�`,!f;���;` ° 4. Fire.Fiood an�l iB�ther Hsu�rd InsarAnce. Borrower shAll insure all inn,�rovemen�s on the Property,whether now —
<br /> i
<br /> '-?•�� ,<�''�°j=.'+-�. +':t�° � in e�istence or subsequenil erected, ugainst any hazerds,casualties, and contingencies,Including fire,for which l.ender --
<br /> ': •� -t�;=�:.�'�. � , .�, .F. y
<br /> �,5��''.��' wy�`�r�,,;`,.:,� ` ?- requires insuranca. This lnsurance shall be mnintained in the amoums and fnr�he periods that Lender requires. Borrower
<br /> %;: ,• . . . �.:". . .; shall also insure nll improvements on the Property.whether now in esistence orsubsequently erected,ugainst loss by floods
<br /> ''%�:� � ,;.:,F„�y,;�`,y;,,:;,, `� to the estent required by the Secrctery. All fnsurance shnll 6e carried with companies approved by Lender. The insurance -
<br />_`::�;��;' ;'�tp�. :. ;���a policies nnd any renewals shall be held by Lender und shall include loss payable clauses in favor of, and in a farm
<br /> _ '' ;�„�„ acceptable to.Lender.
<br />-- �'' In tho event of loss,Borrower siwll give Lender immediutc notice by mnil. Lender may make proof of loss if not �
<br /> -'��, ��,°v,".,. .�� made promptly by Borrower. Each insurru�ce company concerned is hereby uuthori�xd wid directed to make payment for =
<br />_�;`.;. .. � . ; such lass direcdy to l.ender.instead af to BoROwer und to Lender jointly. All a any purt of the insurance prceceds may 6e —
<br /> -";ti; �`.""''�`' • ��;��":.} applied by Lender,at its option,either(u)to the►eduction oi the indebtedness under the Nate and thir Securlry lnsbument.
<br /> . .,� .;
<br />:;:.s:,;`;.'.:• ��'�' first to any delinquent umounts applied in the order in Paragraph 3. and Ihen to prepayment of principal,or(b)ta�he �
<br />��;:t;�, r ;,:.,;.,,,. . r,r;. ., resturution or repnir of the damogeJ propert . Any applicution of the proce�ds to the pnncipul shnll not extend or postpone �_
<br /> . ,i �..,•,.. ; b �-
<br /> ;,r• ...;,1'>>,;i,�. , the due date of the manthly pnyments whrc ure referred�o in PoroFmph 2.��r change the amaunt of such puyments. Any ��,
<br />"�,5;�� ��°• excesa insurance pa�ceeds over an amount reyuired to puy oll ou�s�and�ng indeMedncss under the Note and this Stcurity _
<br /> ,�,;+ .
<br /> . _L,�_. �. � . Instrument shafl be paid to the entity legully entiUed�hcr�ro.
<br /> �.�.;�� �, � in thc event of foreclosure of this Security Instrumcnt or other tri►nsfer of tidc to thc Property thut extinguishea the
<br />_ � � .�� indebtedness,�11 righ4 title und interext oF Barrawer in und to in+urunce policies in forre shall pass to the purehaser. --
<br /> '���`- •��' �� • 5. Occupancy, Presprvation� Maintenance and Protection oP the Property; Borrower's Lnan Applkatlon;
<br /> � � '-.;.R;,� E. I.easeholds. Bo�rower shall accupy. establish,und use the Propeny ac Borrower's pnncipul rcsidence wi�hin sixtX days
<br /> ��x after the execution of this Security Instniment und shull continue t�►ixcupy the Prnperty uti Bormwer's principul res�dence
<br /> .t}��,. ,,• w � ;.::.�,,,r`: for at least one year after the dute of occupuni:y,unless the Secrz�ury detcrmines this reyuircment will cnuse undue hurdchip
<br /> �,; .;: .�• ;,... ;� for Borrower, or unless extenuating circu�stunces exizt which :IR t►eyond Borrowcr's control. Borrnwer shall notify
<br /> � L.enders of any extenuAting circumstances. Bomiwer xhull rn�t commit wuste or dr�troy,dumage or substuntiully change
<br /> �'ti'• � '^ �'"` ' the n or ullow the Pro rt ta deteriorute,reu+unable wrsu und teur exce ed. Lender ma m� c�the Pro n if the �
<br />=�; ;t�",-'. �°pe Y Pe Y P� 9 � Pe Y r:
<br /> ��,�� Propeny is vacont or n�andoned or Ihe loun is in def�ult. Lender muy tuke rea��mablc aciion w protcct�nd preserve such _
<br /> �+ c �',.•�' vacant ar abandoned Prope�y. Borrower xhull ulso bc in defuult if Borrowcr, cluring thc loan uppliculion process, guve -�
<br /> , r.:� ��,
<br /> ;y:e,-1��: mnterially f�lse or inuccurate infbrmution or s�utemrms to Lender (or FaileJ io pruvidc Lender with any materiul
<br /> ,.•.
<br />�. � ° ..��,,..;; informntion)in connection with the loan e�-idenced by the Note, including, hut nui limiled to,representutions conceming _
<br />�""� • � Borrower's occupancy of tl�e Propeny as a Qrincipul re.idence. If�hi:Secun�}�Inytrument ix on u leaxehold,Bomnwer shall �;
<br />•:.t - �;�;;�,'„ -
<br />�' � ' ,;`� '• :1�'��."{; comply with the provisions of the lea�ce. It Borrower ucyuires fec title to the Prnperty.�he leuschold und fce title shall not �`
<br />- � ��',�;;. be merged unless Lender agrees to the mergcr in wri�ing.
<br /> ; • � 6. Charges to Bc�rrower and Protectbn ot I.ender's Rights in the Praprcar•. Bortower shall pay a1i�ovemmentul
<br /> -��: � s'' � ,��•,. ur municipal churgea,�nes ond im�si�ions thai ure not inrluded in 1'nragruph 2. Borrower shall pay�hrse obligutions on �
<br /> �•`���"•!, ttme direcd to the entit which i�o�ti�ed the r ment. If failure to a wauld advenel .,ffect Lender's interest in Ihc
<br /> ;• �; • °. .u��� ��,1, t. Y Y P'Y P'Y Y ' r,
<br /> ��. ` }�"'"�' Pro rt ,u n Lender s re uest Banna�er shull rom tl furnish ta l.rnder rccei tx evidencin �ihese a ments.
<br /> :��i�'�b ;�`•;,::,,t; Pe Y Po q P P Y P £- P Y i;,
<br /> � �l�"���, lf Borrower fails to muke thesr payments or the paymentx reyuired by Paragruph 2, :�r fails to perform uny uther t
<br /> ���"` �,� ���-�•+':= covenants and aarermentc contnined in this Securitv Instrument,or Ihere i,a 9e�.a1 praceedin�Ihnt may rignificantly nffect r_
<br /> _��.°i ,;���: _ , • Lender§rights in the Prapeny(such ati a procecding in bankruptcy,for condr+nnation or to enforce laK�or regulntions), E
<br /> T ;.�:� then Lender may do and pay whatever is nece�sary lo protect the vnlue of the Property wd Lender�s rights in the Propeny. (
<br />`-=:�.- ' `' including payment of taxes,hazord insuronce und other itcros memioned in Purugrup�2 �
<br /> . ' My anwunts disbursed by L.ender under this Puru�raph shall become nn additionul debt of Borrower und be serured �
<br /> " „- • ' by this Security Inswment. These amounts shall benr mterest from the dntc of disbu�ement,ut the Nute rute,und nt the k
<br />� • " . option of Lender,sh�ll be immediately due und pay�ble.
<br /> ;,�.,, ,. . 7. Coademoation. The proceeds of any uwcud or clnim for damuges,dircct or consequentiul,in connection with uny
<br /> .•� •� coodemnation or other tnking of any part of the Property,ar for conveyance in pluce of condemn�+tion,ure hereby cu�igned �
<br /> • and stynll be poid tn Lender to the extent of the full umount uf tlie indebtedne�s�h�t remalns unpaid under thc Note and thiz �
<br /> •�� •,ti.�,„ ,: 5ecuxity Instrument. Lender shall apply such proceeds to the rcdue�ian of'the indeMedne;�ur�der the Note and this Securiry F
<br /> ° ,,3� Inatncment, first to any delinquent �mounts applied in the ordcr provided in 'P�rag�raph 3. and then ro prepuyment of �
<br /> � � }"'k' principal. Any application of the proceeds to the principul shall nQt ¢reee�!mr postpone the due dote of the monthly
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