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<br /> 1, P�7meptofPi�nctpa4lnlercstandGwteC��rse. BortowershaUp�ywlxnduetheprincip�lot.ui3lnier�sEon�. „
<br /> �IxiEeM cvl.d�i�cM 6y tlp NMe u�d I��q charges due upder the NWa - '
<br /> ' 2..Motllh►y pqmeMS pf 7�xb,Insur�nce•.od Other Chi�qee, Oortower sNall inciude in each mon�hly p�ymmt
<br /> toguher wi�h t1p princippl anA inrorcs[as sel fatth In tM Noie end any Ixte chargee,en installmcni of eny'(a)uues ona - �
<br /> speclal asusimenta Icvled or to bo Ievicd ngainSt�iro Ropeny,(b)IczuhntA paymcnu or ground rcma on the Pruany.�nd '
<br /> . .� (c)promiumstorinsurancorcquirrAbyPnrap,�aph4. -
<br /> ` F.ech monthiy Instalinunt Poc hema (a). (b)end(c)shali eqnal ono-twdfth of�he annud amounte, w�eswnwbly
<br /> , -, � � s:6mated.by I.endei, plus en anxmnYsu�eicnt ro matntain en addiiloual balana of nol moro ihnn ono-six�h oi tha '
<br /> '`�� �- esumeled amoume. 7't�o full�ri.�i;(a�6Unl.for cach itcro shall bo eccumulaled by I.ender wi�hln e period ending otw . ' - ��" -'� '���-
<br /> " �_�,q:o�nth before an itcm would b�'co,ik de3rnfiKn4. Lendcr shall hold the amounro collwteA in wst to pxy Items(�,(b)"Fnd •�� -
<br /> - ';•�(c)bgCyrothCyDeaoa�odelinqucnf.� .'.. - � .
<br /> (f at any�tim:�Ao rotal of tha paymqqts'�ekJ by Lender tor Uems(n),@)and(c),together witfi the funve monqity
<br /> �- - - pqymente for such iiem�poynbia�o Lender p-ior w�he dua Ja�es of such items,exeeeds by moro than oneslaih Qw
<br /> tstima�ed amount of paymenis n�uired to ay such itcros when dua,end if pa ments on�ha Nota erc turtcnt,�hen Lender _..
<br /> _ _._.._ .._._ shali either rcfund�ho oxcess over onasix�R of tho estimmed paymeNS or c�t tho excess ovtr one•s(xth of�he estlmatW
<br /> paymente to subseq4ent paymcma hy 6orrower,ai tho opllon of Dorrowcr. if tho toial oh4o payments maAc by Uortower -�� ----
<br /> fur item p),@),ar(c)Is insufficlent lo pay tha f[em when due,�hen Rorrower sAali pay to Lendcr any amouni nettssary lo
<br /> maka up�he deflclency on or betorc�he dn�o�ha item 6ecome�duc.
<br /> As usul In�his Secudty Inslrvmen6"Secrciary"means the Secrctary of flousing and Urban[kvelopment or hb or Aer
<br /> dui$nev. In any ywr In whlch tlx Lender mus�pny e mortgego inturence premlum�u dio Secrctary,each mamhly paymem
<br /> 6I18II also Include cither: (i) an Inslallment of�he ennual mongage Insurenco premimn to be pald by Lender to �ho
<br /> Secrctary,or(Iij a momhty chargo Instcad oi a mongaga insurance premlum If ihb Securi�y InstNmem b held by�ho
<br /> _ . 3ecreiary� Pach momhiy Insiullment of�ho mort6uga insuranca pr¢mfum shall bo in nn omoum su(flciem ro nccumulato the
<br />� � � �- - full onnual mongago Insmvnco prcmlum wi�h I.cndcr ono momh dor to ihe date tho full ennunl mongagc Insur:urct � -��-�-��- -
<br /> premium I�duo�o the S;craary;or it�his Saurity Insuumcnt Is hclS 6y thc Sccrcmry,each momhiy chargo chall bo In an
<br /> emouN equal lo one•twelflh of onc•hallpercent oFtAo ou�s�nnding principal balanco duc on tho Note.
<br /> '�°=�!�:a"� If 6ottower icnden�o Lender�ho PoII payment of all sums securcd by�hix Secnd�y Insirumem,6ortower4 accoum R__
<br /> -- ehnll bo credited witt� �ho balnnca rcmalnins for all inamllments Por itcma(o), (b)end(c)nnd nny mongage Insuruice
<br />:�•_*s����g"�� prcmium Inatnllment�hm l.ender hw not becomo obligated io pay to�ho Secrctary,und Lender shall promptly rePond any _ _ _
<br /> TM�___ eaceu Ponds to Bartower. Immediateiy prior w e(orcclosurc salo of�he Property or i[s ncquisi�fon by Lender,Oortowerl _
<br /> i T,--.;i account shall bo crcditcd wiU�any 0.�lanw remnintng for ell Ins�allmemc for ircms(a),(b)and(c). ..
<br /> r- 3. A Iicat�on of Ppyments. All paymcme undcr Porzgrnphs 1 end 2 shail be eppfled 6y Lender az follows: ___
<br /> --,. �J$$�to the mongage insursnce premmm ro bc paid by Lender�o thc Sceretnry or to�he monthiy chnrge by the �1«�;v
<br /> 4_� Secrcta insteed of tho monthly mortgage insurance premium; F, _-
<br /> � to eny lexes,speci�l assessmenre,leasehold payments or ground renis,and firc,Oaod and other hazard � __
<br /> `'��-� naur�nce prcmlunu es rcQufred; 1�:�'�-•
<br /> 7'HjnD W iu(2725[dtic U}Q�i Lic i:'vii: "" ..' .
<br /> �, - �,lo amortlze�ion of�hc princip�l of�hc Note: =-
<br /> h - �; []�j'j�,lo Iatc charges duc undcr tho Nota E � ���
<br /> _ � . : 4. Ffrq Flood end Ofher Hazord Insnrance. Bonower shall Insurc all Improvemcros on the Propeny,whe�her nuw '�-i--;=`-
<br /> - "����%r� In existenw or subuqucntly en�cled,agehut nny ha�ards,c¢sun6ies,end comingencies,including fire,for which Lender -,�.'._��•:�
<br /> --- � n•qulrea Insurancc. This insumnce shnll he maimamW tn the amounis and for ihe periods�ha LenAu requitts. 6ortowcr _. ;c
<br /> ,_ �.,:; shall nlso insum all Improvemems on�he Propeny,�vhe�her nmv in existence ar subsequently erccted,egalns�lou 6y floods �-�. -
<br />.�`'%�:i�%";.:.b.I lo the ex�ent rcquimd by the Secrciary. All Insurnnce shall be camed wiih comp;u�ies aPproved by Lender. 'ILe tnsurance i.-.;:;��-;�-_-�
<br /> '-�- „ policles end eny renowuls shnll M Isld by l.ender ond shall includa lass a�ynble eliuus In favor ot, und in n fomi _
<br /> ecceptable io,Lender. i �
<br /> � -;..r�f; In the evem of lose, 6onower shall give Lender immedinte noiice by mail. LenAer mny maka proo(of loss if no� ,,'��r y ;M-?
<br /> � �_ :�.�' mndo promp�ly by Qortower. Gach insurnnce company concemed is hercby amhorized nnd dincced to make paymem for � � E
<br /> ,r k' � -
<br /> such loss dircctly�a Lender,instead of w Oovo�ver and ro Lender joimty. All or any pin of the insarnncr praceWs mny be � - .
<br /> u�* npplicd by Lender,at its option,ci�her(a)to�he reduc�ion of ihe Indebtedness under�he No�e and�his S�rnnty Insuumen6 i-� ,.
<br /> - - t •? firs� to eny dclinqucm amnumx epplied in�hc ordcr in Puugrnph 3,and �hen to prcpaymem of principal,or(b) to�hc v- _: ,r �'
<br />- +���-�:'>•'�7, resrormion or rc �ir of�he damn ed ro ny. An a licxtion af�he roceeds io�he nnc� �1 slmll no�extend or s� one � "�
<br /> - �.� P� 8 P P�. Y'PP� P P P� P° P . .•_ ! f.�.
<br /> __ �}�_n�n the due date of tlic monthly pnyments which nrt rcferted to in Pomgroph 2,ur ch�mge�he amount of such paymems. Any �_;` � ,_.
<br /> - �� .'r;�;;t' excess inaurance proceeds over an amnuN required lo pay�II oms�anding mdebteditess nnder the No�e and�hfs Securrty _ ;��-
<br /> -:v Insuumem cAnI16e pnid�o�hc enti�y Icgallytmilicd thcre�u. �- `�� .
<br /> ' � �`�r In Ihe wenl of fomclosua of this Securi�y Insuumem ar o�her�mnsfer of�itle�a the Propeny that exiinguishes the -�-,' � �` �-
<br /> ' indcb�edness,nll righ6 tide xnd imeres�of 6ortower in a�id io insurance pnlicics in force+hall pms m�he purchaser. �+;_ 7-� r -
<br /> - �. }. 5. Occupnncy, N•eservetlon, Mein�ennnce end Profectlon of the Proper�y; 6orroner's tuan Applicnlion: � �- r
<br /> - -��?' I.easehoids. Qonowcr shnll occuy esln6lisli,und usc �he Pra n as Rortowcr's nnci al nsidencc within sixt da s - �'` y,_ _
<br /> i.:'it;:�: �� P . R Y P P Y Y .�...--_ �.
<br /> _ ,, afler ihe execmion of�his Security Ins�mmem nnd�hall cominue to occup�•the Propeny ac Rortow�erk principal residenee .;.._ �;=r,;,,�{"i---�.
<br /> � _ . -��, for et Ieast one year aficr�he da�e of oca�pa�y,unless�he Secmtary detennines�hi:rcyuimment will cnuse undue hardship �::'-
<br /> far Oorrower, or unlas extenua�ing circumsianees exist �vhich nrt Freyond 6arower's comrol. F3armwer xholl nolify ����-�
<br /> �`:;;,,�`� Lenders of any extenuaiing cireums�anms. IIorrower shnll no�cununii waste nr des�roy,damage or subsmntially change
<br />� 't - . �he Propctly or allow thc Roperty lo dMerioratc,rcasonahlc���car and icar cxcepted. Lcnd.r may inspce�he Pooprny i(fic �"`:�_'�
<br />���'}�`' � --t Propetty is vucnm or abandoned or ihe lo:m is in defaull. Lender may IaAe rcaaon.�ble action m prMCCI�nd preserve such
<br /> - vecnm or nbandoned Roperty. Oortmrer shall aleo M in defnuh if Oortower, during Ihe loan applica�inn p�oce-ss, gave � � -
<br />- �- -i�; muteriallY false or innccura�e infonnalion or xlatemenls �o Lender (ur failed �o provide Lender wi�h any ma�crial
<br />.-- `� infomiauoN in conncetion wilh th.loan cvidcnmJ by�hc hu�c,including:bm nu�limued to,mprcumatioaa conccming � ,
<br /> i�" -- 6ortower�oceupancy af Ihe Propeny ac a principnl rcsidence. I(Ihi.Secunly Irowment i•on a kasehold.Bortoxer shall
<br /> comply�viih Ihc provisions o(thc Icax. I(6ortou�cr acqnircs(ec litic la 1hc Propcny.�hc Iracdmld and(cc Iillc shall nol
<br /> 6c mcrgcd unlczs I.cndcr agrccs m thc mcrger in�vriling. �
<br /> �,�•.� � 6. Charge�to 6orro��er and Proteclian ol'I.ender's Righ�s in Ihe Properl��. Iiorcow�cr�hali pay:dl gn.�emmcntal �
<br /> - or municipal chargcs,fincs and impoyiiion.lhal am nnt included in P.�r.�graph?. 13ortmrcr.hall pay Ihc�c obligalion�on .. .
<br />.,-�,�}'._ . �ime direcdy Io�he emi�y which ie oo�ed �he paymem. If(ailure �o pa)' a�nulJ adrenely af(ecl Lender�imercxl in�he
<br /> Property,upun Lendcr's myucst Oortoxcr.hnll prumplly fumi�h In Lcudcr mcipt.cridcncing thc+c paymcnls.
<br /> -- ;j��` I( 6ortox�er (ails Io make Ihrse paymenl. or Ihc paymcnl�rcyuired b�� Paragraph 2, nr(aik io perfum�any mhcr -
<br /> .�;- ;,(�__ , eovenanls and agrcemenis conlainrd in Ihis Scwrily In.vumenL or thcre i�a legal pnxecding�hat may tiignificanlly nffect -. �
<br /> — ' . . . . .. .. . ' ' __.._.':__ � `_''_'._.__ `____�_...__.:....,..�,.....r,......�e,��. ....�e��i����,��i
<br />.. _. :.'"'_:-� i.cnacrx ngms m mc nnpcny uu����.�p�w�z.,���t�s.,���.�,.�,��..... ..,..................... ..........":'..'. "'____.._.._ ____- __.
<br />. ����^�'� � IhCn IBnder may'do:tnd pay whalcrer�x necessap�to protcct the valuc uf the Propett)�and Lender's nghK in the Propeny.
<br /> including paymCm of I:ucs,hn�ard insurzncc vtd oihcr ilcros mcnlioncd in ParaFra�h 2 � .
<br /> . - l� AnY amounls disbursed 6y Lender under Ihis Paragraph�hall hecome a�i addilional de6t of Uutrmcer and M secured
<br /> - �� by Ihis Jccuriiy Inswmem. 'Itiese amoums Shall Ixar inlercsl fmm Ihe dale o(disbnrxemem,al Ihe Note nte,and m thc
<br /> `,.� � -��� oplion of Lcndcr,shall bc immcdialcly due and payablc. �_ ��
<br /> � r '^ � 7. Condemnntlon. 7Le praceeds ot any nward or claim for damages.dircct or mnsequcmiat,in conncaion x�ith y�y � . .
<br /> �'•�t{�i':=:a� eondemnalion ar other laking of any parl o(Ihe 1'ropcny.or(ur conveyance in place o(aondemnation,are hereby asxigued - �
<br /> .. .ts,.i.,�.
<br /> �.�.f_{l� xnd shall be paid lo Isndcr lo Ihe exlem of Ihe fnli amount of thc indebledncss Ihat remains unpaid undcr Ihc Nole and�his .
<br /> - `�:±y��; Seeurity InswmeN. Lender shall apply auch proceeds to tiie reduc�ion of the indebtedness under�he No�e and ihrs 5ecumy
<br />- ,`�i^-` InsWmen4 firsl to any dclimuem nmoums applied in Ihe order proridcd in Par�graph 3, and Ihen lo prepaymcnl u(
<br />� - pritxipal. Any applica�ion o��he proceeds lo �he principal .hall not ex�end or pos�pane �he duc da�e of�he momhly
<br />�.. _ ... .'.i��! rrac�i.'I+Nxm .
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