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<br /> 93�io�'7o�,
<br /> 1. P�ymeat vf Principd�Inferat�nd L�te Cb�na Borrower�tWl p�y whan due the p�iqaipRl of.and interest on,
<br /> the detx evldencxd by the IVote+md late charQea dua under�ho Noto.
<br /> 2. Maatl+ly payments d 11�zes�lawnuioe�d Olber C a. Borrower shall include in wch monthlY piyment
<br /> wg�ther wlth the principtl�nd interest a set fbrth in tha Note�my late chargea.an Inctallment of�ny(a)tuces an�
<br /> �peci�l asse:unents kvled or ta be levied agoinet the Pnnperty.lb)leaeehald p�yment�or gruund rente on the Property.�u�d
<br /> (c)p�miums for lnsurance roquircA hy Pua�raph 4.
<br /> F.�ch moothly inrtallrnent for ium� (�).(b) and (c) sh�ll equal ax-twelfth of the annual.�n�t+nic, u rr,uoiubly
<br /> �'"""T'"-'�` est�mwted by Lender. plus i+n amount sutTicicnt w malnwln An uddttionnl balance of nat morc than ono-siath of the
<br /> esti�mted anwunts. The full�nnusl umount for each item shall be Mccumutated by Lender wlthin,a period ending one
<br /> -- mcmlh befa+e an item would become delinquent. Len�ler ahnll hold the Amounu►collactt�id.in.tnwt to pay itertu(a).(b)�nd
<br /> • _ (c)befom they becomo delinquent.
<br /> - If at any dme�ho total of the paymenta held by Lender for items (a).(b)end�(a),.tu wfth,the futurc monthly
<br /> payments for such items payable to l.ender pdor to the due dates of such items. a 9�6N�mAn1 lhan one-sixth tha
<br /> — ____ estimued emount of payments require.d w pay such iteme when due.und if p�ymentc an�tha Nc�arp eument,then l.ender
<br /> -=--- --- _ _- - ahall ei�her nefund the excess over one-sixth of the eslima��xi payme��tb ur crad(1•qh�ex�uvo�u�Ma.•�+ktli,uf U�e ratbtwtnd
<br /> ___ paymenla to sub�equent payments by Borrower,at the option of Borrower. lf the tatal af�tiM p�ym4p�is�mAde by Botmwer
<br />_� for item(a),(b).or(c)is msu�cient to pay tha item when due,then Borrower sh�llipRy.ta l.endea saK•�unt�nxessary to
<br /> mWoe up the deHciency on or before the dute the item becomes due.
<br /> As used in this Securiry Instrument,"Secretary means tha Secrctary of Hc►urin8 and Urbpn.lk.welqpmcu►t,ar his or her
<br /> -- designce. In any year in whicb the Lender musi pay,a mortgage insurance premium.ta th�S�cnstsrya�s�manthly payment
<br /> �-,�.',� ahall also include either. (j) an instellment of the annual mortgage insuranva pJ^amiuqt w�he �aid by Lender to the
<br /> _ Secretary. or(ii)a monthly chargc instead of a mortgage insurnnce premium�if th1�5e�wiiy In�nument is hNd by N�e
<br /> - � � Secs+e�ary. Each monthly installment of�he mortgage insurance premium shall be in Hn aroount xuffiQient to accumulate the
<br /> `"<"�: ��, , fu{1 annusl mortgage insurc+nce premium with Lender one montM prior to the da�e d�e full�annu�l rnartgage insurance .
<br /> ' � premium is due to tht Secretary;or if this Secutiry Instrument is held by t6c Secretary,eao�manihl�i cbwge shall be in an
<br /> � �.-.�...�"':, ,_;��•� r� unount equal to one•twelflh of one-half pen�nt of the oulstanding principa{balunce due on the Nata.
<br /> , ' ' r";;;j% ��d�'��." If Borrower tenders to L.ender the fuij puyment of all sums secured by dii�Security Instrument,:Anrrowar's uccount
<br /> . �� , ahall be credited wilh the bAlunce remaining for nli inswfiments for items(a), (b).and(c1 nnd an�.rnnABage insurancc
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<br /> ��?����:,;::�;':��;;?.`�.`k* premlum installmant that l.end�r has �ot become obligutesl to pay to the Secretary,and Lend�r shai��pmmpdy nefund an�
<br /> �'�+.v', . �;•����9t,-•. excess funds to Bortower. Immediately prior ro a foreclasure sale of the Property or itrti ncqqisitian�by�•I�ender,Bqaower
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<br /> �•�� •�;:,;,•.�:" �ccount shall be crcdited wlth any balance remaining for a11 installmenls for itams(al,(�f s�nd(c).
<br /> -- � ��'�`�FayJ7e�,;,:� � �. Applles�tioa of Poymenta. All paymenta under Paragr+aphs 1 and 2 shall�be applied by Lend�r py follows:
<br /> _ ?t:;;:.°b =r:••��:::�?' FJg$�.to the mort gage insurance prem�um to be puid by Lender io the 3ecratsny or to the manthly�rbarge by the
<br /> �;:•.'.-, � �.,.. . �,�;' Secne instead o f 1he monlhly mortgage insurance premium;
<br /> _ �•• �' � ��;;,���. � '- ' �;�,to any taxes.sgecial assessments.leasehold payments or gmund�rent�,and fite,flaad�And od�er ha�ard
<br /> .a`ii.�cvr�n���:':� ��°��'_ �nsurance premiums,as a�quired; •
<br /> �"'s�::.i�.`��y��y�y�"'�r�I:b� �}J]$Q,to intencst due under the Note; •
<br /> ��^�.I�LiiM/ '
<br /> �,ta amortization of�he principof of the Notc;
<br /> . ' `'� ' �,to late charges due under�he Not�.
<br />� .�s:.. . .' �� d. Flre,F7ood and Ot6er Hazsird Insarance. Borrower shall�insu�c aJl impm��ement�on thp Aroptrty,whether naw
<br /> . ,c�P ����•'"% �° � in existence or subsequendy erec�ed. against any hazurds,cusualties,and contingoncias,inaluding flra.fnr�which Lender
<br /> . •• �%: ����"� . myuires insurance. This insuranoz shall bc maintaincd in the umounts und for the perinds thAl.Lendcr raquiras. 8arrower
<br />-- ������' ahnll also insure all improvemonts on thc Property.whethcr now in existence or subsequontl��cmctad,against loss by tloodv
<br />= ,,:., � ' �. to the eatent required by the Secrelary. AA Insurance shull be curried wi�h companios appr�vcd by Lender. 71ie insurance
<br /> • .. , policies and any renewals shull bc held by Lender and shall include lo►s payable clausc+s in.favor of, und in a form
<br /> ° • acceptable to,Lender.
<br /> �<s:r...�e:,: , ..:.� ' In the event of los�,Burrowcr shall give Lender immediu�e notice by mail. I.ender may mxke ptoof of loss if not
<br /> made promptly by Borrower. Each insumnce company concemed is hereby ou�hori�ed und dihrcted�to maka payment for
<br /> e
<br />• �,'•, � such loss dircctly to Lender,iostead of to Borrower and to Lender joimly. All or Any part af�tha incumna proceeds may be
<br /> �•�' � ' applied by Lender.at its option,ei�her(a)to the reduction of the indebtedness under th�Not�and thls Security Inswment,
<br /> � �� �' ' � first to any delinyuent umounts upplied in �he order in Puragraph 3,nnd chrn to propayment of principal.or(b) to the
<br /> '� ��� �� �' �� restoration or repa�r of thc damaged property. Any opplicution or the pmcee��to the prinripxl sh�ll na�extend or postpone
<br />��� � ' ;r.;`,�,' 'Yy'•' � the due dnte of the momhly puyments which are refened to in Parngrnph?,ar change the umnunt�of•such payments. Any
<br /> '�' '�' excess insumnce raceeds over an urnount re uired to a all outstundin mdebtedncss under th�Nnt�and Ih1s Securi
<br />���;•,;.. '. ::-�•„ ' P 9 P Y � � �Y
<br />;�_;z, , • � Instrument shall be paid to thc entity Iegnlly entitled thercto.
<br /> � • '�`�''''�'' In the event of ioreclosure of this Security Instrument ar olher IrunsPer of titic�to thr.Ptoperty that extinguishes the
<br /> � � " ' indebtedness,all righ�,tiNc und interest of Borrower in and to inxuranre policies in force shall�pus4 ta:he purchaser.
<br /> '� � ,, .� S. ()ccupancy� Preservation. Maintenance And Protection of Ihe Properly: Bu�vower's i.oan ApplicaUon;
<br /> '. :i:``�.^' •. Le�seholds. Borrower shull accupy, euublish,und use ihe Propeny ns Borrowers ptinripal�residence within sizty days
<br />. � : afler the execution of this Security Instrument ond shull cominue m occupy the Proprny n� Borrower?�principal residence
<br /> �° •� '�- .: for at least one year ufter�he dute of occupancy,unlesx the Secretury determines thlr royuiroment will cAUSe undue hardship
<br /> � ��'�"� � '`.�'' ' for Borrowcr, or unless extenuuting circu�ristances exist which urc bey�nd Burm�tiwr�rantrol. BoROwer sha0 notify
<br />� 4'• .'� .4,yF.��,,,
<br /> tc . �� � Lenders of siny extenuuting circumx�ances. Borrower shall not commil a�a.to or de:tro�•,dsmuge or substantially chunge
<br /> �; �he Property or allow�he Property to deteriarutc,rcu+onuble weur nnd tcar exrepted. Lcnder may m�pect the Propeny if thc _
<br /> �,;: � . �: Property�s vacant or abandoned or the loan is in drfuult. Lendcr mu��take reuxonabls actlon to prutect und preserve such
<br />� -� „ vacant or abandoned Pruperty. Borrower .hall alsu be in defuuU if Bormwcr,durinF Ihe loan applicntion process,guve
<br />, l � � °: materiully false or inuccurule inforn�utian or st�tememx to Lender (or fniled to provide Lcnder with any m�teriAl
<br /> informnlion)in connectian with the loan evidenced by the Note, inrluding. Iwt not Ilmited to,represenlaliuns corcerning
<br />`�7 ' ;, Borrowerk occupancy of Ihe Property as a principul rcsidence. If Ihis Securit��Imtrumem i�on a Icasehold,Borrower shull _
<br /> • : ; s�� , • .� comply with the pr+�visions of the leuse. If Banower ucquire.fee tide to tlx Pn�peny,th�;Iea.uhold and fee title shull not
<br />;�� - • • bc mergcd unlcss Lender Agrceti to the merger in writinF.
<br /> � ' `�•,,, � 6. Charges to Borrower and Protection oP I.ender's Rights in the Prope�ty. Bomnwer xhall pay ull govemmental
<br /> � 3 . ,:•�., , ' or municipnl rharges,fines and impotiitions Ihal nre not included in Paragruph�. Bc►rroµ•er shall pay thesr obligationx on
<br /> � ;��;`.,,;,;•.`,� time dircctly to the entity whirh is owed ehe payment. If failure tu pay would ud��ersely affect Lender's imere�t in the
<br /> , . Pmperty,upon Lender'.s reyuest Borrower shall promptly fumish to Lencler receipts evidencing these payments.
<br /> ' If Borrower fails to make thcse paymems or Ihc payment�rcyuired b� Purugrnph 2, or fc�ils to perforn�any wher
<br /> `` ��•�,_ �:_:_._-_�._,�1�..: . covenants nnd aRreemen�s ronlained in this Security In�trument,or therc ix a legal proceeding that may signiiicantly aifect
<br />�„ r= _`:� . Lender's rights in the I�rapeny(such Ax u proceeding in bankruptcy, for condemnation or to enforce laws or reFulation�).
<br /> � � , � �� . ;::�,ti; then l.ender may do and pay whatever is necessury lo pmt�,:t thc value of thc Prnperty und Lender's rights in the l�mpeny, _
<br />, " • including payment of tuxes,hazard in�urnnce nnd other itemc mcntioned in Pu�agruph 2.
<br />�" ' ' My emounls disbursed by Lender under lhis Purugruph shall becomr an udditional debt uf Borrower and be sewred
<br /> • • by this Securily Instrument. '1'hese umounts shall benr interest frc�m the dute nt'dixbunement.at ttrr Note rate,and ut the
<br /> ��' , • � option of Lender,sholl be immediately due and paynble.
<br /> ' 7. Condemnation. i1�e proceeds of su�y uws�rd or claim for dumuges,direct or ronseyuentiul.in connection with uny
<br /> ' . condemnation or other taking of a:�y pun of the F'ropeny,or f'or ranveyunce in pls�e of condemnation,nrc hercby axsigned '
<br /> ` • and shall be puid to Lender to�he extent of the full umount of Ihe indrMedne,s thut remains unpaid under the Note and thi.r•
<br /> _ " � � ;.� • • Securiry Instrument. Lender sholl apply such proceeds to the rcduction of the indebtedness under the Note and�his Security
<br /> - ' Instrument, fir.:t to any delinquent amounts vpplied in the urder provided in Purogruph 3, :uid then �u prepayment of ;
<br /> � ,»•< principal. My application of the proceeds to the princip�l shnll not extend or postpone the due date of the monthly
<br /> _ . 3€ . ,.
<br /> � _ r,�' , ' ' • '��i IpuRr:aj�puNts► ,
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