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<br /> 1. Psyment o(P�(nclpd,[nitrHt arid Lfte Ch�rke. �ortowcr shill pay when duo iha prindpal ol,niid imercst on, '
<br /> ' clwdeWcvlJe.naAbythoNoteondlaiochnrgesduaunckr�heNote.
<br /> z, Mon161y pqmenu a���ry%a,InwMnte�nd O�htr Ch�n�a. Bortower ehell includa in dach monlhiy paymen�
<br /> �oguhtr wid�ttw pNncip�l�nd iniercst as set Ponh In�Ae Noto ond any law chnrgce,en ins[atlment ot xny(p)taxes u�
<br /> speslW us�ssmenla tovled a to bo levletl�g+inst iha A�openy,(b)leaxhold plymrnta or ground cenis on tfw 4roporty.uW �
<br /> (c)prtmiums tor insuranu rcqulrcd by Patagraph A.
<br /> Each montNy InsiollmeN for ikma (o?, @)ahd (c)shell cqupl one•Iwdfih of�he ennuul 4moum�, as rcasaiabty _
<br /> — . esttntnted by Lender, ptus an omount sufliclent �o ma(mafn en additional baianco o/na moro thnn or�c-si�ih of the
<br /> ----, estimaud omaunls. 7T�c full ennual nmour.�for cnch hem shnll 6o accumuloied by Lendsr whhin a period ending one
<br /> momh bePoro m Item would buoma delinquem. l.ender ahall hotd�he amounts collectcd In trvst to pay liema p),@)and � �
<br /> (o)bofore�hey becomo de�inguent.
<br /> _ — If a�nny�imn tha tmei of iho paymeme heid by 4ender for licma(a),(b)and(c),toIIcthcr with�ho tuluw momhly
<br /> – peymeNs for nuch items payablo to Lendcr pdor to tAe duo daies of such items, cxcuds by more �han one•sixih Ow --
<br /> estima{ed amount of paym:ms rcyuircd to ay such i�em�when due,and if payments on tlio Nole aro curtent,then I.ender
<br /> shell chher rctund�ho exuss over one-six�P ot�he estimaud paymen�s or credit Na excess over one-six�h of the estimated _
<br /> . .,_� paymenp to subsequcnt payments 6y portox�er,et�ho opAon of Bortower. It thc�otal ot�he paymema mado by Dorrower
<br /> for I�cm(a),@),or(c)le Insufficlent to pay�ho item when due,then 6orto�vtt shall pay ro Lendcr my emonnt necesaary ro
<br /> ' mako up Poe deficlency on or before the dato the tlem bernmea due.
<br /> —= As used(n�his Security Ins[rvment."Secretary"means the Secrctary of Nousing nnd Urban Deveiopment or hls or her _
<br /> designee. In ony yenr In which�he Lender must pay a mongage incuranee premium to the Secretwy.eaeh monthiy paymr.m
<br />— _— shuU ulso (netudc clihcr. (i)¢n Insmllment of the annual mongagc Insuranco prcmium to bc pald by Lcnder lo the
<br /> � — Secretary,or Op a momhiy chargo instead of a mongege i�unnce premium It�his Sewdry Insimment Is held by�ha
<br /> __= Secrcinry. G'ech momhly insmilmcnt of tha mortgage Insureneo premium shall ba In en emount sufficicnt to accumuiato�he
<br /> — full annual mongngo Insurance prcmium wi�h Lender one mon�h pdor to �he daie tho NII nnnuni mongego Insurance _ __ __
<br /> ,�y� jF'a premium is duo�o�ho Secrctary;or if ihis Security Insuumen�Is held by�he Secremry,each momhly c0argc shall be in nn _
<br /> amount equal to one-twelllh of one•half percent of Na ouutanding principal balance dne on tlta Nole. -
<br /> p'#- �y� If Oortower tenders w Isnder the PoII payment of ell sume securcd by ih(e Secut"vy Insimment,6ortower6 acwnnl
<br /> .��S' � � shall be credited wi� the balence nmaininQ for nll insiallmems for itcros(a), @) nnd(c)and eny mongage insumnce ' '--°—"-
<br /> ra-:•-
<br /> --,-.;y�,_,�� prcmium Ins�allment that I.ender hav not 6ccome obligated to pay to the Secretery,end Lcndcr shall promptiy rcfund eny _
<br /> .•.�; _ excess Ponds to 6orrower. Immedlalely pdor to e toreclosurc seic ot the Pro,xtty or tis ecyuls{Iton by Lendeq Rortower4 ____
<br /> ��h � _� account shall be crediied wi�h ony balanco rcmaining Por ail insiallmenis for items(a),(b)ond(e).
<br /> 3�.��AQpIlca��on of Paymenta. All paymeme undcr Paragmphs I end 2 shall be applfed by Lendcr m follows: �� .
<br /> � '^ '� FJRti.1',to�he mortgage insuranee prcmium�o Ix paid by Lender to�he Secrctary or w ihe momhly charge by Ihe ;
<br /> 1f V� -�,5 Secrc�ary Instead of Iho momhly mortgnge insurance premtum; �_.�'!'�'�
<br /> ,-- D w any leaee,speeial acsessmenu,leasehold paymeNS or pround ren�c,and firc,llaad und o�her hazard �___ ,
<br /> ' '� � �� nsurance prcmiums,es rcqulrcd; �
<br /> i i " ' T_}�$�,Io imCrcst duc undcr the Notc; �,�yy��,
<br /> , - ��.- io nmoniw�ion oi mc principal oi mc iQo�c: H ' �
<br /> �f - �- t �o IT�e charges duc undcr iho Note. �'t'J -
<br /> �i�t�� �' 9. F(re,P1ood and Other floznrd[nsurnnce. IInrrower shall insure all improvemenu on�ho Propcny,whe�hor now r�', Y,�5>=--
<br /> - � tn ex iatence or su bsequent iy crecte d,egainst any liaznr d+,cTSm l iies, nn d com f n g e n c i c s,I n c l u d i n g f i rc,f o r w h i c h L ender .,���^✓,��" �
<br />- �-��%%, rcquires hisurenca Thfs insurancc shail W maimatned in�he amoums nnd far iltc perlods�ha�Lcndcr requircs. Dorto�ver ,����,;,,:
<br /> - %; shnll xlso Insure aIl improvemenls on thc Propcny,whe�her no�v(n existence or subsequently ertx�ed,ngainst lov by Ooods ;;r .-.
<br /> , ,} ' :� to Ue exient requimd 6y the Secrctery. All insnrence sh:Ji be camed with companies npproved by l.endee The Insurance ��y? -„�1-
<br />- '�.;�Qyr''°�''" policies and ony renewals shall be lieid 6y Lendet and shall include loss p,rynble clauses in fevor ot, nnd in a Pomi �'�ct'�;; •;:.-;
<br /> t a� i:�, ecceptnblc to,Lcndcr. -4 ,:yx � 'i
<br /> - -� In�hc event of loss,Dortowcr xhall give Lender hnmediam no�icc by mall. Lender may makc proof of loss If na -'� y_,_�.
<br /> ' 1��?` mnde promp�ly by Uorcowcr. Each insunnce company conccmed ie henby nuthori�.cd and dirccted�o make paymem Por i�". ....
<br /> i�.,-�; such lass dirtstly io Lender,Ins�end of ro Uortower and�a LenJerjoindy�. All or any pan of ihe Insmm�ce proceeds may be 1N�' t '�-
<br /> � . e plied by Lendeq m its opiton,ef�her(n)ro�he reduciion of�he indeb�edness nnder the Note nnd ihis Stturiry Inswment, :�; }����¢p�;_
<br /> ---{r�rJ�'}•,; ,� �rst to nny delinyaem nmounu npplied in ihe ortler fn Parngmyh 3, nnd �hen to prcpayment of principal, or(b)�o�he ;,.,.;��.y.:,�:.r�:
<br /> �{ � �-t' rcstoTadon or rcpair of the Jmm�ged propenp. Any nppticxtion of�he pracedx lo the principel shall not ex�end or posipone - ;,a ,
<br /> �'/� �'�i`,',' iho due dn�e of�he momhly paymems which xrc rcferred io in P•vagmph 2,or cnunge me nmoum ot such payments. Any � •���r ��� ,.
<br /> �7n�`l" excess insurance procceds over nn amount rcquircd to pay nll outstanding indeb�edness under the No�c and thB Securi�y �t"t�h
<br /> - -,33y. Insuuntcro shell bc paid�o ihc cnti�p legally entided�hemto. �'+ � �
<br /> ��..%:,f !,-��'- In�he evem of forcclosurc a(�his Secnrity instrumem or ud�er��m�sfc�uf lidc �o�he Prop:.rty tha�ezttngulshes�he .,:,z-,��
<br /> sii� �--'.`Y indeb�ednexs,ull rigM.�i�le nnd intercsi o(6wromrr in nnd�o ineurance polirics in force shall pus ro the pure6asee �h`-:
<br /> - - �� 5, Ottupency, Preservetiun, Mnlnlenante and Pratection of Ihe Properly; �orrm�cr's Laan Applicetion: L _
<br /> $ L 4 r,�t Leaseholds. UoRmver shall acupy,esiabli.h,end use�he Propeny as�orcoweri pnncip:d residence wi�hin six�Y days _,,
<br /> � �, efter the execuiion of�his Securi�y Insirumem and shall cominne to acupy�he Propeny as Fiortowert principal res�dence - �, � .
<br /> s for a1 Ieast one year a(ter Ihe date o(occapancy.unless the Secrc�ary dclemiines this rcyuimmem will cause undue hudship S-�., ;� .
<br /> for portower, or untess extenua�ing circunis�ances exis� which arc heyond dono��rrk comrol. Bunower shall no�ify � �. � Y� ,y;:
<br /> • ����i���'��.r Lenders o(nny extenuating circums�ancea. UoROwer shail no�commi�a�a�te or de.trop.damage or.ubsmmially.hnnge :�,;ir;��1i�`._
<br />-: �.,i}:(��:�'.!^ �hc Propeny or allo�v thc Hoprrry�o dc�eriora�c,reawnablc wear and iear exccptcd. Lcndcr may inspca�hc Propeny if�hc ,�:-�• �..
<br /> �; ...
<br /> Propeny is vacanl or a6nndon<d or thc loan is in defauh. LenJer ntay laF.e rcamnable aclion lo protecl nnd prcxnr such �'I�l�;5`�ri��-
<br /> vacont or nbandoned Ropeny. Oortoa�cr shali also t�c in de(aul� if[3ortower,during thr loan applica�ion pr«ecc,gave �'f�`4��:•ti4-
<br /> � . maleriallY (ulse or inxecurzle infon»alion m slalentrn�� lo Lender (or f�ilcA Ia provide I.ender �vi�h nny malerial �,�:'if,l�l�+�'vJ:'
<br />� - � ' infomiauoN in conneclion wilh the loan e�'idenred by Ihe Nnle.incluJing.Fel nnt limiled In,reprcsrmalions conceming �rtri;Q���a;'
<br />. � - �� Rorrow.r�acupincy of Ihe Ptopeny as a princip�l rcsidence If Ihi.Sca�rit} Insvmnem is on a Ieacehold.Uortower shall �r;�?�'''-:';�'�
<br /> � ' - eomply wiih Ihc prorisions of Ihc Irasc. If�onm��cr acyuirc+frc lillc lo�hc Propeny.Ihc Ica.rhold and fcc tillc sha11 nol '�•,�•",';�''_�-
<br /> � - M.mergcd unless Lcnder agrces lo Ihe mcrger in�eriling. � i'-r -�.
<br /> - 6. Chargu l0 6orro�rer nod Pruteciion nf I.ender c Righl.c in Ihe Properlp. Hnrro�eer shnll par all goremmrmai ,, :.,.:;>
<br />� , - or municipal charges.fines and imposi�ions�hnt uc nol inciuJed m Paragraph?. Borrowrr�hali p.y the.e ubLgaliuns on .. ., ,
<br /> - �,� time direclly to Ihe enliq��rhirh is o�red �he pamienl. If failun �o pa����ould adversely:+ffen Lendcr: inlernl in �he � -
<br /> - . , Propeny,upon Lenderk rcyues�Finrtower she11 promptly fumi.h io Lender receip�.cridenring Ihese paymentx. . - - -
<br /> - - I(Dortower fails to make �heoc paymcnt•or the p,ymcm.rcyuirtd by Pangraph _'.or faill�o pcdom�an�� o�her .
<br /> " eo�enams and agmemen�s conu�ined in this Secariq In.uument,nr Ihere i.a Icgal procreding�ha�may significaml)�affecl '
<br /> -� Lender�ri hls in the Pru n (+uah ax a roceedin m b:mkru k fur.ondemna�ion or lo enforce la�c.or rc ula�ions).
<br />-�- . _.—__.___ S P� Y P F P 'Y� . . _ " ' ' . ' . ' �' . _ .
<br /> -�. ; then LCndcr may do and pay o'haicccr is nccc>saq lo pm1tt1 IhC��aNC at Int 1TOpcny ana Lcnucrs ngmz m mc rropcny. � -
<br /> .� including paymcm of lazes,livard insuranm and othcr ilcros mcmioned in Paragmph 2. .
<br /> �� Any omoums disbuned by Lender under this Paragraph.hall become an adJniunal Jebt o!Oortoaer anJ Iw�ecured
<br /> �3, �_� -..t �., by Ihis Securily inslrumcnl. Thcse anmunl�shall Mar inlemcl fmm�hc daie o(di�bursemenl,al Ihc Nu1e ralc,and al Ihc
<br /> oplion o(Lender,shall be immedialcly duc and poyable. f
<br />- - "_ 7. Candemnefion. "fhe pra�ccds uf any awanl ur daim Ior damages.Jir.cl or con�eyuential,in connccliun xilh an�� �
<br />- ' rnndemnalion ut o�her laking of any pan of Ihe F'ropeny,or for conveyance in plare u(condemnaliun,arc hercby as.igned
<br /> - flnd sliall be paid lo Lender to Ihe cxlent of Ihe(ull amount of�he inJe6tcJness Iha1 remains unpaid unJer the No�c anJ�hi. �_
<br /> `�;�-'�, Securiiy Inslrumeni. Lender shall apply such pmrecds lo Ihc reduclion nf ihe inJcblcdnest under the Nole and lhi+5ccuriq�
<br /> � ..,.i��'.�;- InsWmcN, first lo any delinyncm amoums applicd in Ihe urder providcd in R�ragraph 3, anJ Ihcn lo pnpa��mcn1 u(
<br /> principal. My application of 1he pruccads W Ihc principal shall nat cxtcnd or �wi�ponc thc duc datc of thr momhly
<br /> 'C�"',},� rposr S.+f I�vcn� '
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