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<br /> �.�- 1. P�ymenl ot Prlacipd�Inhrat and LWe Cb�r�e. Borrower rball pay wl�due tho prL�c�ipal oT.�ndinterat an.
<br /> --- - IILe dab evl�enced by the Ncvo�nd laW char�cs due undrr Iho Note.
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<br /> - -� Z. Mq�tbly p�yp�eN�ot'Ii�xe�,lnsurantro wpd Otber Cp�es. Borrower ahali inciude in each mantLly paymenl,
<br /> �.b, w�ether wi�the principd and interon ws set forth in the Nde w�wny late chatQes.an inwliment oP any(�)uuca�nd
<br /> - "a �pecid��+rmena levla!ur w fse Iev{cd a�alast the Praperry.(b)leaaehold paymente or grMmd rona an the Property.aad .
<br /> .��� (c)pr�miums for inwrance requircd by ParAgraph 4.
<br /> Fach monlhl)' imtxliment for items (e), (b) and(c)shall equ�l one-tweltlh of tha annual amaunts,as rca.gawbly
<br /> - erdm�ted by Lender, lus en orrtount sufficient to mainta�n an addilbnal balence of not maro tlwn one-sixth of tho
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<br /> , _,. !� CgNm�IO� pmpW1�, tL11 onnual amount for euch item shall be accumulated by Lender within a period ending one
<br /> .- -�_- : morrth boforo m iiem wuulJ ixxuuas deli�x�ucnt. Lcndcr stwll hold the umounts collected in truar to iwy itemr(al.lbl and
<br /> ,,;k� (c)betaro they becomo delinquent.
<br /> -�.-� If at ony timo the total of the pAymenls heid by l.ender for items(e).(b) and(c),tagether with the futuro monthly
<br /> �__� p a y m ents for auch itcros pa yablo to Lcnder pdor to the duc dates of such itcros, cxcceda by moro than one-sixth thc
<br /> eulrtu�ted amount of puynunts rcquircd to pay such itema when due.and if pa ments on the Note are current.t hen L en d er
<br /> �_.,;,,�_i�,F1., � ehall eilher rrfund tho excess over one•sixth of the eallmated paymcnts or c�t�he excess over one-sixth of the esdmated
<br /> �,�•.: pnyments W subcequent p�ymcntx by Barrower.at the option of Borrower. If ihe totel of the paymcnta mude by Borrower
<br /> �- °--_�.:�� i'or item(a),(b),or(c)is insufficient to pay the item when duo,then Hortower sh�ll pay to Lender any amount t�ecessory to _
<br /> make up tha deiiciency on or beforc the dnte the item becomes due.
<br /> - - '=�-�:. As uced in�his Secudty Inatrument."3ecretsry"means tho Secrcuuy of Housing and Urban Development or his or her
<br /> �"'-"�=... �� designa. ln any year in which the L.ender muat pay a moAgage insurance premium to the Secretazy,each monthly payment
<br /> -°`-�' shWl also includo either. (i) an instaliment of the annual mortgage insurance premium to be paid by Lender w the
<br /> _�.�:._� Secrelary.or(ii)a monthly charge inatead of n morigage insurance premium if th�s Securfty Instrument is held by the
<br /> Sa�+etary. 8ach monthly installment of the mongage inaurance premium shall be in an amount sufficient to accumulete�he
<br /> `°°��""-� fuil annwd moRge e insuranca premium with Lender one month pr�or to ihe date the full annual mortgage inaurance M
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<br /> °:r.v��.'.' premium is duc to Secretary:or if this Secu�ity InAtrument is held by the Secrctary,cuch monthly cherge shall be in an
<br /> __ = amount equal to one-twelfth of one-half percent of thc outstanding pdncipal balancc due on the Note. `
<br /> -- ��•'��'--�•� If Borrower tendus to Lender the full payment of all sums secured by Ihis Security Inslrument,Borrower'a account
<br /> `�` shall 6e c�edited with the balence remaining for nll installments for items(a). (b) and(c)and any mongage insurance
<br /> . � • ;.••,d*��� premium instellmcnt that L.ender hos not become oblignted to pay to the Secretary,and Lender shall promptly refund ony �
<br /> ��. �''." ' excess funds to Borrower. Immedistely prior to a foreclasure sale oi the Property or i�s acquisition by Lender,Borrowetk �`' �
<br /> ������ °°``'� ' axount shell be credited with any balunce remelning for a!I instnllments for items(a).(b)and(c). _
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<br /> _,:�� _ „_: ; 3. Ap�licatlon ot Pnymenta. All payment�undcr Paragrnphs 1 and 2 shnll be upplled by Lender es follows: �-
<br /> E�S�T.to the mortgege insurance premium to 6e paid by Lender to the Secretary or to the monthly charge by the ��
<br /> i;;:�� ,.;�•'�, Secre instead of the monthly mortgoge insurance premium; _
<br /> -- .,;;�;�,;,, �a ,to any taxes,special nssessments,leasehold paymenla or ground renta,and fire.flaad and other hazard
<br /> ��`°�—_-�_�=����•�, �' inaurance premiuma,asreq ui�ed; -
<br /> y�;, �j@�.to interest due u n der�he Note;
<br /> .�i�«�:+:..�_= FOURTH.to atnortiu►tion af�he principal of the Note;
<br /> �=�'��"�'•°`'"-�f�T �,to late chsuges duc under Ihe Note.
<br /> �;:,, •�"�;' ' ' 4. Fire,Flood�d Other Hazard Iosurance. Bortower shull insure nll improvements an the Property,whether now
<br /> ` � in existence or subsequently erected,againat any hazards,cASUUlties, and cantingencies,including fire, for which Lender _
<br /> r�" `,.�3i�.:.i .. requires insurance. This insurance shall be maintained in the umounts and for the periods that Lender requires. Borrower
<br /> �'^' • shall also insure all improvements on the Piropeny,whelher now in existence ar sub.sequently crected,against IosS by floods
<br /> - "�' ' • to the extent required by the Secretary. All insurance shull be carried with compnnies upproved by Lender. The insurance
<br />-_ " � policies and any renewala shall be held by Lcnder und shull includc loss puyable clouses in favor of, and in u fortn �T�
<br /> `�,,��� r�. .t : acceptable tu.Lender. �"
<br /> . ,.�,� `�°°. In thc cvent of loss,Barrower shull give Lender immediare nntice by muil. Lender mny make proof'of loss if not __-
<br /> made promptly by Borrower. Euch insurnnce compuny concemed is hereby uuthorized und directed�o make puyment for �
<br /> _�-� • '. , such loss d�recUy to Lender.instead of to Botrower und to Lender jointly. All or uny pah of the insurance proceeds may be ��.`
<br /> �'i��..; ^� • applied by Lender,at its aption,either(u)to the reduction of the indebtedness under the Nole and this Security Insuument,
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<br /> ..,wr• Brst to any delinquent amountx applicd in the order in ParngruPh 3. und then to prepuyment of principul, or(b)to the --
<br /> �. "" � " '"� '�• restoration or repnir of Ihe damaged property. Any applicution of the proceeds to Ihe pnnr�pal shull not extend or postpone --
<br /> ��..;',. ,..;�: � the due date of the monthly puyments wh�ch s�re referred to in Puragraph 2,ar chun�c the amount of such payments. Any
<br /> _�;'.,�, ��; . excess insurance proceeds ovar un umount rcyuired to pay ull outxtunding indebteJnetis under the Note and this Security �f.�
<br />_= Instrument shall be paid to the entity leg++lly entiUcd thercto. �-�,_�=
<br /> -� " � In the event of foreclosure of this Security Inatrument or uther tmnsfer of title to the Propeny�hat extinguishes the ___
<br /> �A�� � ' indebtedness.nll right,�ide und interex�of borrower in and to inxurance policies in force shall puss�o the purchoser. -- .
<br /> �� S. Occupency� Preservatlon. Maintenance and Protection of the Property; Borrower's Loan Appllcation; ��>
<br /> I.easeholds. Borrower shnll occupy,estuWish,und use�hr Propeny u� Bortowcr's principul residence within sixty days ��:
<br /> �� °e� � after the execution of this Security lns�rument und shall cuntinue to cxcupy thc 1'ro�x:rty u.Iinrrowert principul residence �=
<br />- for at lenst one year after the date of occupuncy,unlexs ttie Secretury determines this reywrement will cuuse undue hwdship
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<br /> -� ':'� - for Borrower, or unless extenunting circurtistances exist which urc beyond Borrower: con�rol. Borrower shall naify ��
<br /> - •°` ' Lenders of any extenuating circumtitances. eom�wer,hall not commit wus�e or destroy. Jamvge ar substuntiully change
<br /> • � the Property or ullow the Propeny to detericxnte,rcazonuhle wcur und teur excrpted. Lendcr muy inspect thc Property if ihe
<br /> property is vacant or ubundoned ar the lo,ui is in default. Lender may take rcu,onuhlc action to protect ond preserve such
<br /> � vacant or ub�ndoned Propeny. Borrower xhull ul+o tx� in default if Borrowc�. during the luan upplicution process, gave .,
<br /> •• " materially fAlse or inaccurntc intixmution or stutemcmti w LenJer (��r fuiled t�� proviJc Lcnder with any matenul k�
<br /> .. infortnution) in conneetion with the loun cvidenced by �he Nutc, inrluding,but no� limi�ed to, representrliom concerninF
<br /> • Borrowert accupancy of the Property as u principe�l residenrc. It'lhis 5ecuriry Instrumrnt i+on i�Ieu�eholJ,Bormwer shull ;
<br /> . comply with the provisions oi the Iruse. If Borrower aryuim. fcc litic tu thc Pni{xrty.Ihe learchold und tcr tidc shull not E ....
<br /> ' ' � •� be merged unless Lender ugrces to the merger in wriiin�. E
<br /> , • 6. Charges to Borrnwer and Protection oP Lender's RiRhtS in Ihe 1'ropertv. Borrowcr.hall pay ull�uvrrnmcnlul I
<br /> � or municipul churgc�, fines unJ imposition�lhat ure nu�inrluded in Pura�r•rph �. Hurrowrr�hall p:+y th�sc obli�utium on
<br /> �j' time directly to Ihe en�i�y which i� owed thc p•ryment. If fuilurc to pay wiiulJ advcrscly afF'crt Lcndcr+ intrrcst in thr �
<br /> Property,upon Lender�reyucst Borrowcr xhull prumptly furni+h to Lendcr recript+rvidrnring the,r payment+. ;
<br /> • If Bormwer fuils to mukc Ihcse payment+or Ihr puynKntx myuirrd hy Purugraph �, �K fuils li► pert'om� :►ny ixher i
<br /> covennnts und ugrcementti conluimmd in thi.Srcurity In�trumcnt,ar thcn i.a IrEal pnxeeding that may +iEnilic:m0y ut'fect �
<br /> Lender's rightx in the ProFxny (+uch ati a pr�xceding in banl.ruptry. ti�r rundrmnution nr�u rnti�rrc law�ur regulations), �
<br /> _ then Lender maY do unJ puy whatever i�neres,ury lo pn�tcrt�hr valuc ut'thc Prupert�•nnd L�nJ�r�right�in�hr 1'ropeny.
<br /> ' •, including puyment of wxe+,hu�urJ intiurance und other nrm�mrmiimra in Yurugr•rpn.:. �
<br /> Any s►mounts Ji+buncd by LenJcr unJrr this Prru�r•rph.hnll hecomr an aJJiU��nul dchl at�liurtowcr und lx�ccumd
<br /> „ by this Security Instrument. Thc.e umountx �hull lx•rr mten�l fmm thc dute ol'Ji�hurocmcnt, at the Notc rulr,and at Ihe ,
<br /> , ,, option of Lender.+hull6e imm�diutely Juc und puyablr.
<br /> 7. Condemnntion. The proccedz ui'uny awsvd or cluim ti�r danwges,Jirect i�r cunxeyurntial, in runnc�tiun with any
<br /> condemnation or other taking ot'any purt uf the Prupeny,ur liir ronvcyunrc in plarr uf r�mdrmnation.are hercby u,.igned �
<br /> und shul)be paid to Lender la thc cxtcnt uf thc full amaunt of thc iixleiNCdnes.thut rcrnain.unpaiJ unJcr�hr Nute anJ�hi.
<br /> . Sccurity Inxtrumen�. Lendcr.hull upply�uch pnxceds tn thc n:ductiun ot'thc indcbt�Jnc�ti undrr�hc Nolr und thi.ticcunly
<br /> Instrument, tirsi to uny drlinyuent umoumx applicJ in Ihe urxler providcJ in Purugruph �, anJ then ti� prrpuymenl uf
<br /> � principal. Any applicu�iun ��f Ihe pnxeeds �i► thc principal .hull na cxtcnd o� pc►xtp�mr �hr Juc Julr uf thc mumhly
<br /> ' yw�Rr-�q J�n�¢r��
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