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<br /> +1. P�7uKwl�of Prisclpd,irlereq�M LNe Chant. Bortower�hdl p�y when duo tho princip�l of,�ndiiMercB on. .
<br /> , thodeMeviqenc�byUwNote�+Wl+tachujuduewWerthaNae. ' .
<br /> 2;.MeRfhty p�qaxntf of'hxea,insuronce�nd OlAer Mt�p, Bortox•cr shill Includa In e9ch mofii6iy p� msnb
<br /> toteihr,t wi�A tla prinCip�i ud inierest�s set forth in�he Nofe er.d any lete chugu,m instdiment of�ny(q tua ud
<br /> spalA uuumeoU levled or to 6d Iavied�g�nst�tp Property,(b)Ien.uhoid paymeme or ground rcnu on�he Propcny,�nd
<br /> (c)premiume for Iqsururce rtquired by guegreph R.
<br /> 6+ch monthip insWlment for itemi(e),(b)ind(c)�h�ll equ�l one•iwelNi of�M annu�l�mounle, �a rcuauDly
<br /> ,,,__, ai(muad by [.ei�dea pIus an arnount sufflsknt �o mafnWln en oddidonal baiance of not moro Ihan one•six�A of,tM
<br /> ' � aqm�ted unouma, 'Ra futt annud amount fa eacb Ivm shall be xcumulated by l.ender wiihln�pcdal rndin{aw ' -
<br /> .. .momh befote an Ilem waild becortw delinquent. Lender s6il1 hold lhe omounq wllected In Wst to p�y I�em�(�),@)ud
<br /> , (C)beforetheybceomedeiinquent.
<br /> :. if e��ny time Ux tda!of ihe paynxnts held by I.cnJer Por i�eme(a),@)anA(c),rogeiher with tho Poturo monihly
<br /> paXtnSnW for such Ilema payable to I.ender pdor to�ha duo date� of wch heme,exceed�by morc�Mn one•aixib da
<br /> �' ulunated emount of payments nquirtd to p�y such itema when due,end tf paymenn on�ho Nole oro wrrcnt,then Lendet
<br /> shal{el�her rcfund�ha excescs�ovcr a�e•sfath of tiw atimatcd p�yments or creAit iho excese over ono-sixN of thc estimated
<br /> ---j. p�ymCNa ro subxquent paymcn�s by Bortowtr et the optfon oP�Uottmver. If�he rotel ot�hc p3ymcnts mada by BortoH�cr -- - -- -�
<br /> for ltbm(a),(b),a(c)(s Nsutftdml to pay the fiem whcn duc,�hen-portower shall pay lo l.endcr any amoum necessary to
<br /> - mako up tEe Aeficimcy on a betoro�Iw date�he Item besomes due.
<br /> - As u5ed in this Sauriry tns�mmem,"Secrc�ary"means the Secrctary of Housing and U�hin Development or hls or her
<br /> ' dul�na. In any ycu in which�he Lender mus[pay a mongagc insuranw prcmium to�ho Sarctary,cacb mon�hly paymeN
<br /> " shel elso inciuda either.. (i) en Installment of Uio annual mongago (nsurance prcmium lo be paid by Lendcr to �hc
<br /> ' Secrciary,ar(if)a monthly chargo instcad of e mongago insaronta prcmium if this Secumy Insuunxnt Is held by the
<br /> � .- Secretary, iiach mon�hly installmentof�o mottgnge insurence prcmivm ahall bo in an emount su(ficlent ro aaumuiste iha
<br /> �-�""-`�-- full annual mongage insurena premlum wiih l.ender ona month dor to the dare tho Poll annual mong�ge Insurana ---�-��
<br /> � - � prcmium is duo to�ho Secrwary;or if�hia Saurity 6�sUUment is helS by the Secretuy,each momhly eharge shall be(n en
<br /> � emountequaltoone•twelNiotone•half�xrantoftheout�iandingprinclpxlb�lancedueontheNote.
<br /> _— - If 6ortowor�endew to Lender the PoII payment of all sums stturcA by�hls Saurity Inswmem.Oortower�eccount _�-.
<br /> shall bo creditsd wl�h tho balance rcmaining for all Instdiments for i�ems(a), (b)end (c)and any mortgage insurance
<br /> _ prcmtum insmlimcnt that Lender has no�become obligared ro pay eo Ne Secrctery,end Lendcr shnll promptly rePond eny
<br /> -� exeess Ponds{o Bortowtt. Immedlaleiy pdor ro n forcciosure snle of�he Propeny or its ecquisi�ion by l.ender,BormwerS z-
<br /> ,� account sM1all be ercdf}eA+�iUi any balenw remalninp for a11 Instal6nente for tiems(a),@)end(c} =�°---
<br />-_—— 3��.��Applkallon oPPxymenb. All paymenta under Parag'aphs 1 end 2 shell�be applicd by I,cndcr av follons: �'7�['__--�
<br /> _--_= F7RST,to Iho mongage insumnco prcmium to be paid by Lender w the Secretvy or to�he monlhiy charge by Iho e%��-
<br /> -�`°��'��_' Secrc�t ins�cad of tiio momhly mongnge insurance premmm; -
<br />—='�`.""9 ro any tnxes,speciul ossessmems,leesehotd paymems or ground rcms,nnd fire,ltood nnd o�her hazard ---
<br /> insuranco prcmiums,asMQ uircd: ___
<br /> .., TfiIRD"fe�mAR.a[d�_i u(!dnt��n Nnl�; ._..
<br /> [Qt�R7'H,ro emorcization of�hc pdncipal of thc Nutc; ; .. -
<br /> N ��'�q pp('}j,lo lece charges due under tAo Note. - �
<br /> -.�,}__. 'y j 4. Fire,Flaad and Other Hazard Insurance. Buim�cer shail insurc nll improvemcNS on ihc F'ropcny,x�hether now �?;.-----.
<br /> s.wt�� ;� in oxlstence or subsequeNly ercc�W,against eny hazerds,cazuattics,and comingenc ies,inc lu ding fire,for�v hic h L en det �£.R..- .
<br /> �"'���x�+ rcqulrts insurxnce. 71ds insurance sM1al�be maintained hi�he emoumx end for the periads�hat Lender rcquircs. �ortower --�;_�
<br /> ,5 shall also Insurc ell improvemen�s on ihe Roperty,wficther now in exis�ence or subuqucmly erec�cd,ngefns�loss by floode .���w��,
<br /> �:'-".ti:`''-; to tho exicnt rcqulred 6y the Secrc�xry. All insurnna shnll be carried with companies opproved by Lender. 'fhe insurance „;. -
<br /> �_»y :.. polieles end eny renewals shall be held by Lender and shall include loss payable clauses In favor of, and in e fomi �����'�'•
<br /> �, � eccepieble to,Lender. - G���yF •
<br /> -"`"s-��� 1n the cvcnt of loss, Uortower shnll gfvc Lendcr immcdia�c no�ice by mail. Lendcr may makc proof of loss if na� -r.S;`:r?
<br /> - '""f�`�+ mado romp�I b Uortowcr. Each Insunncc com ny wnccmcd fe hcrcb� uuthoriud and dircctcd to makc a ment for ` t`=�
<br /> �`- �,;� P Y Y W ! P Y : .,{.=� .-.
<br />� ';^};" s' such loss dircc�ly io Lender,ins�ead of�o Uortower nnd�o Lender jolntly. All or any pan of�he insurence proceeds mny be ;u%r.J,:-i.-
<br /> . �'S':�v r�a!{+�jf' .
<br />:,�:,.;;�,. .� eppIIW by Lender,a�fa option,cllher(a)ro�ho rcduction of the indebmdness under the Nute and ihis Security Insmimen4 1�-3 z�;i,
<br /> *i y _ � Fint�o eny dclinyucm nmomus applicd In �ho ordcr in Paragmph 3, and�hen to prcp�ymcm of principal,or(b) �o thc I �'n fir;.,
<br /> �-- �eniu�uii�n u��cyu�r oi ina dam�ged propeny. Any upplica�ion of Ihe procecds to the principal shall no�exlend or poslpone �-..,.
<br /> »'SUf,��%� 1he due date of�he monthly paymeNS�vhich nre rcferred to in Pangrnph 2,or change�he nmounl of such paymems. Any �.: .`,
<br /> sf �t jaa eaceu insurenee proceeds over an nmuunt rcquircd to pny ell aaG�tnnding indeMedness mtder�he Note e��d�his Securiry k t rr��._;�;
<br /> .-- - lnsin�mcm�hall M paid w�hc enti�y legally cntiticd�hereto. i �
<br /> ''�^4.�fl�4 In�he evem of foreclosurc of iM1is Securi�y Inewmem or o�hcr«ansfcr o(�itle m�he Propeny that eatinguishes thc �i�ri;`C°'
<br />�}`';i;;;(����;i indebicdness,xll righ4�ide nnd imercs�of donower in anA to insurance policies in force shall pau�o�lie purchaaer. �,:�F�,��'
<br /> `'•n :
<br /> ��+a�{;) S. Occupancy, PrescrvaHon, 5laintenance and Profectian oi Ihe Properly; Oorrax�er's luan Appilealion; ��r' r ,_�
<br /> f r,i,� Leaseholda Uorto�ver shall occupy,exmblish,nnd uu ihe Propeny as RoROwerS principal rcsidenm�vi�hin sixtY days �n�;_
<br /> n�r �,-P�;i eller the execwion ot�his Securi�y Instmmem and shall cominue to occupy ihe Pmpeny as 6ortower4 principal residence „ �: •:
<br /> �.�.�r�va for et Iean one yeu afler Ihe dale of occupancy,unle.ss Ihe Secrelary delem�ines Ihis rcyuircment�vill cause undue hardship :;��-r,�.,��
<br /> � �:��fi� tor Uorrower, or unless ex�enua�ing circunis�ances.xis� which arc beyond Qovonerk comrol. [3ortower shall notify �� s�-:'�
<br /> ', -,,,� Lenders of any ex�enuating circums�ances. 6onower shall na�mmmii waa�e ar des�roy,damage or xubvnmially change ±Sl,i;�!_'1_-
<br /> �` ' the Propeny or nllow�he Property to deteriu�a�e,reaconable wea/and�ear excep�ed. Lender may inspec��he Property if the ��':t;f��'��
<br /> �;'�''��7fJ'� ftopeny is vacam or eGnndoned or�he loan is in defaul�. Lender mny take rcasonaAle ac�ion to pro�cei and preserce such -•�%�>:'-�-
<br /> "-�""� vacant or ebandoned Propeny. 6orroa•er shali also Ix in de(auh i(Dortoa�er,during the la�n applica�ion process.gave '
<br /> -•: i,�.rz �.._- �`
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<br /> �-,.�,�t;� materially false or inaccurz�e infomiation or s�a�emems �o Lcnder (or failed to pro�•idc Lender aith any ma�erial , „c•_�-_
<br /> "' � ''�" infomiatioN in connec�ion with�he loan evidenced b Ihe Note,includin ,but not limiled lo,re asematiuns concemin
<br /> Y B P ' R r;;•_ -
<br />�>����j"�0:���` Uortowerk oceupancy of the Properly uc a principal rcsidenre. I(�hi+Securiry Instmmrm i.nn a Ieasehold.Uortower shall ��i'•.•.
<br /> - eomply wilh the provisions of�he Iease. I(6ortmrer acquircs fee�i�le ta�he Ropeny.1he Ieauhold and fee lille shall no� ��"� -
<br /> � �- i , bc mcrgcd wlesa Lendcr ogrces to�he mergcr in writing. ! �--.:f, _
<br /> ���$�_�. 6. Charges l0 6orrawer und ProteeUon of Lender's Righls in Ihe Properly. 6ortooer shall pay ail gorcmmemal �f�f,�;=- '_
<br /> '�, ��;;�_,.� or municipal chargcs,Mcs and imposilionx�hat are no�inrluded in Paragraph 2. Dorto�vcr shall pay Ihcsc ublig;rtions un -`,:�
<br />- •-.?hv.+ timc dircelly lo Ihe cntily w6ich is uocd Ihe paymeaL If failure io pa��a�ould adverscly af(c:i Lenderk inlercxl in lhc ���•. �
<br /> - �-��"� Pro rt ,u on Lender's rc ucsl Dortao�er shall rom 0�Pomixh lo Lender recci t.eridencin these a mems. ��;.�� -
<br /> - P� Y P 4 P P > P 8 P Y ��;.,.
<br /> .-�i�, I(Bortower fails lo ma4e lhcm paymcros or �he pa��menl� rcyuircd by P.vagraph 2,or fails lo pedortn any olhcr
<br />- . :(i covenaNS and agrcemems conWined in�his Securi�y Ins�mmem.or�here is a legal proceeding ihat may significamly a(fec� %. `- �
<br /> �....L..1..:..1.�.:..rF..0......n..Ia...�A. ...n...A:nn :n 6an4...no-v fnr�nndnnim�inn nr�n nnlnr�n � u wda�imct ��:`li:._
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<br /> lhen Lender may do and pay whalever is neceswry�o pmtcc�ihe�alue o!�he Propeny and LenderY righis in the F'mpeny. �,.°{�:�,°
<br />� -�" - inClud'u�g paymenl of Iaxes,h:oard insurance and olhcr i�emz ntenliancd in Paraga�h 2 �:(✓..:� .
<br /> ���.:'�` • My emaunis disbursed by Lcnd.r undcr this Para�raph shali Mcomc an addilional dc61 of 6arto�vcr and bc xcurcd ='��'�
<br /> by Ihis SeCUrily Inswmenl. 'lluse omounls shall bcar mlcrcxl fmm 1he datc o(dizbursnncm,al lhe No1c mlc,and al Ihe '
<br /> - _ - _ oplion of Lender,shall bc imnud�.tely due and payablc. _ .
<br />_ -.� 7. Condemnatlon. 7Te procecds o(any a�vard or claim for damagex,dircc�ur conseyucmial,in cunneaion�vith wiy
<br /> ' � >'�� rnndemnalion or other laking o(ony patt n(�he Propeny,ot for conreqance in place o(cunJemnation,arc hercby aesignM
<br /> ' ,yj,,t3 .� nnA shall be paid�o Ltnder lo Ihe exlem uf�he full amounl of�he indeb�edncss�ha�rcmains unpaid undcr the hoie and�his
<br /> - - ;, � Security InxuumenL Lender shall apply such p`ucecds w�he mduction of the indeb�edncas under ihe hme anJ this Secumy �� - -
<br />' InswmeN, fits� �o any dclinquent amoums applicd in �M1e ordcr providcd in Paragmph 3.and Ihen lo prcpaymenl of - �
<br /> "`�Z��� principal. My application of�hc praceds �o thc principal shull nu� cx�cnd or pos�ponc �hc duc da�c of�hc momhly � -
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