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<br /> ,93- �os.583
<br /> 1. P+�y�eal o�Pri�clpd,INered�ad Lde Cbae�e. Borrower shwll puy whan dup�p�:iprl of.�nd intereq ati
<br /> 1ba debt evldenc�d by the Nao wid I�te ctwr�er due�uncbr tha Nao.
<br /> 2. MoatWy pa9�oenta d'Ibxa,I�wrasc�a�d 011Nr CMa�es. Bortowor stiqil�include in e�ch manthly p�ytnenti
<br /> to�elha with the principl uid inuene�t a set fonh in the Note�nd�ny Iaro charaar,�n in�Wlment af�ny(a)tue�and
<br /> ; �peci�l assec�nents kvfed or to be levkd��inct ihe Propeny.lb)Icwobald p�ymena or�ro�u�d�ao tho Pmperty.�u�d
<br /> (c)premiums for insurance requlrcd by Pua�raph 4.
<br /> Faeh manthiy inrulimenl fac ftenw (a1, (bl And(e!ch�ll equal ona-Iwelfth of�ho ennual ancwnt�.�r�asaubly
<br /> _ ectimated by Lender� plu� an am�wnt cut�7cfent to maintain an a�Witian�l baluicr af not mone �hwn ona•sirttb of the
<br /> _ ��'"-�"�-"-'��"� estimated nrtwunp. TF�e fuli wu�uul a�rwunt for each item bhall ba�ccumuluted by I.ender within a periaA ending oae
<br /> ._ mamh befae�n item would become del(nquent. Lendar sludi hald�ha wnnwnt�colkclod io t�u�1.ta pAY itemR(a)�lb)and
<br /> (c)6efae they b�cort�e deNnquent.
<br /> � If a�Any tfmc the twol of tho pwyments hald by Lcnder fix itame(a1,lb)and lc).togethar with 1ha ILtum mantbly
<br /> paymcnts for such items ps�y�ble to Lendrr prior to tha due datca of suoh itams, exceeds by mare Ihan,ona•sixlh,the
<br /> ___ eslimatod amount of payments required lo pay such items whan due,wnd if puymcmis an the Note arc curc�enh Ihmt,Lender
<br /> -- —�` ._ _ --� ahall either r�efund the excess over onc-sixtb oi'thc estimuted paymo�us�x cm�U U�a e�►cvK�uver�mr-afaU�uf U�a relin�atc+l �
<br /> --- ---_--"° ps�yments to subcequcnt payments by Borrower.at thc optlon af Borrowcr. !f lt�a tntul af!he paymen[s mude by Borrower
<br /> for item(a),(b).ar(c)ia insuflicient to pay the item whan due.then Bornowor sfi�ll pay to Lender�ny amount�eceswuy w.
<br /> .�� mnke up�daficiency on or before the dwce U�e item becomea due.
<br /> -- As used in thix Securitx lnstrument,"Sect+etary"maons Ihe Sec�tury of Huueing aod Urban Development ar his ar her
<br /> �"-� — decignee. In ony year in whuh the Lender mu�t pay a mortgage insur�nae premium�lo Iha Secrete�y,each manlhly payment
<br /> --•-•: �� � shall also include eithcr. (i) un inatallmenl of thc anaual mortgage insurroas ptrsmium to be paid by Lender to thc
<br /> :�� 3ecretery.or(ii)a monthly charge instead of a matguge insua+nae premium if U�ie Security Inamimen�is held by the
<br /> � � Sceretary. Each mcmthly installmeni of the mariBage�nsw.ince prcmfum shall be in an emount sufficient to accumul�te the
<br /> �� �;,�-�f�,* full annual mortgagc insurancc pnemium with Lender one mond� prior tu the dnte the full annuol mo�tgage fnsurencc -- ---
<br /> ; �. ,��:.;•,.�;,.�•, :, premium is duB to the Sec�etnry;or iP thia Security Instrumcnt is helJ b�r tha Sec�tary,each moathly ch�rge shall bc in an
<br />- �us:w���wK:.�i.:;.'; amaunt equal to one-twelRB of one-holf percent of tha ouutanding pdnc�pal bnlunae due on thc Note.
<br /> � M.;;,� , '.; `:'`,,:."�:'� . !f Borrower tende�s to Lender the full payment oF all sums srcurcd by d�iq Security Instrument.Borruwer s account
<br /> ,;;';:�,_:. ••>. '•r shell be credit6d with the balnnce remaining fa all inr:wllmentx fa iu:ms(a).N�? and (c) and an mortgnge insura��ce
<br /> ,,,.t.,..,:, : .'�:':i
<br /> • ,,.., •; •: �Y;�;•. premium ine.�Ument that Lender has nd becoma obligated to pay to U�e Secretnry,sind l.ender shal prompUy refund any
<br /> �� ���`! excess fund9 eQ Borrower. Immediataly priw to a foreclo.sure sula 4Fti�e Propeny or its acyui�ition by Lender.Bomawer's
<br />:''�` .��?•r�•' :' `� � ``:�,: accaunt shall ba cRdited with eny balnnce remuining for all inFtullmenta for�tama(e).(b)and(c).
<br /> ' '. • 3. Applk�l(ou ot Ppymenta All paymante und�r Puragrapht�I und 2 shuU�be Applied by Lender us follows:
<br /> ' �� , ". ,'r pg�'�.a the mongege ineurance p�emwm�o be paid by Lendar ta tha 3acretary or to the monthly charge by the
<br /> .. . • ., . ,:,::; Secrcwry jnstead of ths mamhly mwtgagB in�uranae premium:.
<br /> , '.. _ , . ��Q.to eny ta�cea.speciul ussassmantp,loar�hald payroaolx or�round�nts.and fini,flood and other hazard _
<br /> • , ' . insurance pnmiums,us rcquined;
<br /> --_ TF11RD,to intel�ast due undar tha Nuta:
<br /> �_ '.�—`^:,�: ., FOURTH.ta amartiration of the principol of tha NWO:
<br /> ..�;!;:;'r;�:i;' �.to letc:cha�es dua under the Nw�s.
<br /> ` �-��'�:'�•� 4. Fire.I'rtood and 4�or Haaard Ineuraaoe. Lorrv+vcr shnlF insur�e all improvemenu;on the Ptopeny,whether now -
<br /> �, .., .,,
<br /> :�'ti•�i�'' in existunce or subsequemly entetad,:�gainst any ha�au+dr�casaulties,and cantingencies, including fire,for whieh l.ender
<br /> . t�.;•.
<br />. � � requinas insacance. Thix inr:amnce shnlPbe mainluined in Bw umounM and for the periads thn�Lender requires. Borrower
<br /> ;, shall alr�insure all improvemonte on d�a Ntvperty.wholher nnw in exis:encc or subseyuently ererted,s�gainu loss by floods __
<br /> � - � � to the extent required bp tha 5ncratury. Al1�inr:cirsmue.hnll•be c,uried with companies upproved by Lender. The insurance
<br /> ` � �`'� policies and any renewale shall�be hsld by L.endwr snd �hall include lo�s payuble cluuse� in favor of, and in u form
<br /> r , • �' accepta6le t�.Lender. _-
<br /> , • In the event of los.,Bu�ro�var+hull�givv l.ender immcJiutr naicr by mail. l.ender muy make proof of loss if not ��
<br /> `. � made promptly by 8urrower. Euch•inr,unmce campeny concemed is hcrcby authoriied and di�et�d to make pnyment for F_
<br /> �• " such los4 di�+ecQy to Lender.ins�ead of to Borro�ver und tu Lendcr joimly. All ur uny pan of the insurnnce proceeds may be °__
<br /> � applied by Lender,at itA oplian,either(a)to the reductfun uf thc indcbtcJnc.�under the Note and this Security Inslrument. -
<br /> ' ., firat w any delinqueut amountn upplied in thc unlor in PampruPh 3, und then to prepayment af principal,or(b) to the ��-
<br /> restor+ition or rep�ir af the damugcd propertv. Any upplicution ot Ihc prcxeed�to thc principal xhull not extend or postpone �
<br /> ' „` . the due dnte of ttie manthly paymems which urc refom:d to in Par:�graph 2,or chun�c thr umount of�uch paymenls. Any =-
<br /> � � � � excess insurnnce proceedF�ver an am�wnt rcyuired ta puy uU outslunding indebtedn�s, under the Nute�nd this Security -
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<br /> .. , �. lnstrument shall tie paid to the entit�r Irgally cntilkd Ihereto. �•.,�
<br /> � �� In the event of foreclosure of �hi,Securiry Inxtrument or othrr trunsfer of title w thr Pn�perty thut cxtinRuishes the
<br /> . ' indebtedness,all right,tillc�nJ inlrresl af BuROwc��n und t��inrurancc{wlicicti in tiircc yhull pasti w the purchuser. i:;�"
<br /> � ` 5. Orcupuncy. Preservatiun, Maintenaace and Protectiun oP the {'ropert�•; Borrower's Loan Applicat{on; ' `.
<br /> ' �� " l.easeholds. Borrower shult cxcupy, exWblish,und uxr the Pri�xrty as Borrowrr� prinripal resiJence within s�xty days
<br /> -. after the execution of this Securiry Instrument und shall continu�to��rcupy thc 1'ropcny a.Bcirrowerk principal rcsidence
<br /> � for at leact one year after thc dnte of cx:cupancy,unless�hc Secretury dct�rniine,thi�rrquir�ment will cuuxe undue harJship
<br /> � . for Borrower, or unlexs extenuuting circu�ristnnceti rxi,t whirh ure txy�md Borc��a•rr: control. Borrower shnll notify `''�`
<br /> +.:.... :,
<br /> �;:'�;' Lendenc of any extenuutinF circum��ances. Borniwer shull n��t commit wu�te or de+tmy,dumuge ar aub�lantially chunge '`�'.':
<br /> • ,�•,: r'`;.,�� " the Property or albw the Property to detcriora�c,n�sonuble wcur anJ Icur cxccpted. Lcndcr muy mxFx:ct the Property if the �i,
<br />, '• ��:.• •• Proptrty is vucnnt or nbundoned or the la:ui i+ in drfault. Lender mu�� lukc reu�onahle aclion lo pmtecl und preservr tiuch
<br /> � � Y ���;.!"' vacent or abandoned Pro�xrny. Borrower .hall alxo he in dcfault if Bortoa•rr,during Ihc loun applicalion process,gave
<br /> �-•; � �, �.�. mnterially false or inucrur��e infum�u�ion or slahmems �o Lrndcr lor I'ailed to provide I_endrr with uny ma�crial
<br />� •:; . . information)in eonnection with the loun evidrnced by thr N����,irkludinE,hut n��� limited to,represemutions conceming �
<br /> �, ` Bnrrower's accupancy of the 1'ropa:ny us u principal residenee. If�hi+Securi�y Intitrumem i.on a Ieatirhold,Borrnwer xhull !
<br />: • ' � � comply with the provisians of thc Icusr. lf Horrowcr aryuin,fec tiik tu thc Pro�xny,�hr learehold unJ i'ee tiUe shall not
<br /> 1 • '. .� be merRed unletis Lcndcr u�erecs tu�hc merFer in writing '
<br /> , : 6. Chs�rges to Borrower and Protection of Lender's RiRhty In thc Propertv. Borrowcr shall pay all governmental
<br /> , � or municipa!charges,fines and impn�itions Ihut ar¢not includcJ in Paragraph?.. �onower shall pay Ihese ubligaliun.on '
<br /> �''i', time directly to thc entity which i�owed �he puyment. U failur� tu puy would adver�ely uffert Lender:intereat in the �
<br /> � . , ,. Property,upon Lender's n.�u�xt Bortower sh•rll pmmptly fumi.h w Lcndcr rcceipt.evidem:in�th�se p�yments.
<br /> If Borrower fails to make thetic paymentx or the paymcntti reyuircd hy Parugraph _. ��r fuils ta perform Any other
<br /> covenants and ugreements conwined in�his Security In,trument,or thcre is a le€al prixeeding that muy ugnificantly affect ,�''
<br />-- 1 rnderk rieh�x in the Pronenv lsuch us a uroccedinQ in bunkruptry,fi�r cnndrmn;+ti�m or to enforce luws or reaulationsl.
<br /> � ' l`` ' then Lender may do und pay whatrver i.ncces�ary to protcct the value of thr Pruprrt�and Lender'x rights in the Rupercy,
<br /> : ; ' , ..' „ including puyment of taxes,hazard insuruncc und uther itemn m�ntioneJ in Purugraph_. :
<br /> � Any nmounls disbur�ed by Lendcr under this Para�raph shall Ikciimc un s�dJitional deht of Borcowrr and be.erured
<br />_ by this Security Inswment. Thesr+unounta shull lxur�mcrest from the du�c of disbur.ement,ut the Notc r+nc,and nt the
<br /> •• .� , option of Lender,shall be immediutely due and poyablr.
<br />• � �r_ 7. Condemnation. 'Q'he praceeds of ony vwurd or rluim for dam��cs,Jirect or ronseyucntial,in cunnection with uny
<br /> condemnotion or other tuking of uny part of the Hvperty,or for convcyunrr in pl�re ai'conJemnution,ar�Ixroby ussigned ,
<br /> 1 and shull be p�id to Lender to the eztent of the full umount of�he inJehtedne.x thu�r�muim unpuid undcr the Note und thi�
<br /> j . • • ' Security Instrument. Lender shull npply such pnxerd�a��he reJuctian uf�he indebtrdne.s under the Note und thi,Srcuri�y
<br /> 5�� i' ' r, . Inswment, first to any delinyuent umount�applird in Ihe unlcr pruviJrd in P�.�raFruph 3, und then tu prrpuymrnt af ,
<br /> � „ principal. Any applicalion of thc pruceeds tci Ihe prinripal +hall not rxtcnd or po.tp�me the due datc of the munthly ,
<br /> s, .. ��.
<br /> _ � I1w.YY:ufJ/wtir�l
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