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<br /> �93:1u��e�s
<br /> L: Po�ma�t of IM�cip�l.Iotere�t aad Late Cb�r�e. Borrawer�hall p�y when due the princlpd ot;�nd intet�e�t,un,,
<br /> d�e dobt evidet�ced by the No1e ard lato ctur�es due under tho Nota.
<br /> 2. MaNhiy payaa�b a�7Y�a.lmuraace ud qher Cbv�es. Hortower stwll include in each moolhlY p�yrtietu,
<br /> w�dher wi�h Ihe principd and inte�+est as sct fath in the Notc and any late charge�,an insullmcnt of�ny(�)t�uce��nd
<br /> q�eci�l asRes�tnent�kvled or to bc levkd agofnst thc Anperly.(b)lea�ehold p�yments or�round rentr an the Pno�eAy.�nd
<br /> (c)prcmlumx(ur insurancc roquired b�+Paragraph 4.
<br /> ' Fa�ch monlhly iruWlment foc ilama(a). lb) and (c) clwll oqual one•twelflh aP tha wtnual �utwunts. aa �uon�bly
<br /> estimated by Lenckr, plu9 ae amnant sufiicient to mainlain en eddidorial balnnce of nat m*x�e then one-sixth of the
<br /> esUmued amau�ts. The full u�nual emount for esch item shall be accumulated by l.enda�within p period endin one
<br /> mauh bofae�n itam wauld becane delinquent. L.ender shall hald the�rna�a�tp rnllected in tru�to p�y itams(a)�(b��nd
<br /> ' (c)befun4 thay becoma dclinquent.
<br /> 1�.+���ny tima ihe taal of the paymems held by L,ender fix i[ems(a),(b)and(c).together with the iuwn monihly
<br /> payma�l�fw such items pay�ble to Lender prior to the dus datas of such items, exceeds by mon thu�une-six�h �hu
<br /> est3m�atd ampunt of paym�mis requlred topay such items when due.und if paymenis on the Note are current,then l.cnder
<br /> chall either rcfund the exass over one-sialh of Iha esllmated paymentsi or credit U�e excess over one-sixth of.the estimated
<br /> paymenls to subcec;ysnt payments by�omower.at Iha option of Bormwer_ li tha tdal of the paymcn�s muda by&xrower
<br /> far itern(a).(b).or(c1 is insufficient ta pay the iasm when duc.then Bomower sholl pay to L.ender any unount nececsary to
<br /> � maice up the deficiency on or before the date the itsm becomes due.
<br /> � As used in this Security Instncment,"Secrewry"means d�e Secretary oP Housing end Urban I�velopmBnt or hiR or bar
<br /> i designx. In any y¢ar in which the lRrx)er must pay a moAgoge insuronce premium to the Secretary.eACh monthly paymant
<br /> ahall also include eithar. (i)un ir�stallment of the unnuul monguge insurance premium to bc pnid by L�.mdcr to the
<br /> •�� SecRtary,or lii)n monthly charge instead af a matgege insurance prcmium iP thie Security Instrumant ia hald by tho
<br /> _� „ ��`� SecRwry. Fach manthly in.gtallment of the mortgoge inaurrnce premium shall be in en amoum suFficienl to occumuinta Ihe
<br /> =`;t, �;��`r fuU annua! mongc+�cc ingur�nce premium with Lendcr one m4nth prior a tha dute the full amual mortguge inswanac
<br /> ; ' � '�'� � premium is dua W tlue S�ecretaty:ar if this Security Instrumcnt.is held by the Secrctary.each monthly chzuge shall be in on
<br /> ;�t • •;��r�`�t;. amauU,eq4a!to ane-tvrelfth dorrc-half pereent of the outstanding pr�ncipa!balance due on the Nwe.
<br /> �• ,;,'ti.�:;�-�%:�?�•�? If&xrower tand�rs tc+P..ender the full payment of all sums secured by this Security Inslrument.Borrowerls accow�t.
<br /> �' •':� , ''�" " ' shall be creditad wuh the bc�ance remaining for all inswllmeotx for items 1�),Ib)and (cl and an mongage inswance
<br /> ���' �����'��:�k���'�� nemium instaliment�hat Lender hus not become obli Ated to a to the Secre
<br /> p g p y tary,and Lender shul promptly refund any
<br /> ' . :=•�•• .•�•�`�'a'�,�':•� , eacesa iunds to Burtowcr. lmmediately prior ta a fareclosune sala of the Aq�erly or iG�acquisition by Lend�r,Bomowerts
<br /> ' `..:' !', i account sha11 be credited with any 6alance remuining for all instaltmentti for items(a).(b)ond(c).
<br /> -;c;��.;, 3. Ap Ncadon of Payinenta. A1J paymen�4 under Paragrsp�hs 1 und 2 shnll be uppticd bv I..ender as follows:
<br /> , , • Q$$�la thc mottgage inRUr.,►nm premium to be paid by Lender to thc Secrelary or to the monthly charge by Ihe
<br /> � • �",.'� Secre mstead of the monthly murlgoge insurrnce prcmium;
<br /> � , � �.to any taxes,spccial a�se�xmen�,Iri+.cehold paymentR ar ground rente,und fire,flood and aher hazard
<br /> '"' � ' ' insurance premiums,a_s requi�d;
<br /> . r.:.. `".
<br /> a.,��• -� 'i'i'IIl2D,to mterest due unciar the 1vae:
<br /> ,y;;::. IF04[t7'I�,w amonization of Uts principnl of the Ncx�t;
<br /> :;��,. , �,to late chorges due undar thc Nae.
<br /> ���: :: 4. Fire�M1aod and Other Haza�d Insur�ce. Rurzowe�shAll insure ull improveman�x nn�ho Ptopeny,whethcr now
<br /> , in existence or sub�equently erc.•cted,AgAI(Ifil a9fly FIA7�d>1. casuahiec,and canangencies,inc�udin� fr�, fuc which l.ender
<br /> . . - requires insurunce. This insurance shall be maintaiaed in the amountc and far d�e period�;that Lender reyui�. Borrower
<br /> k�I�'� ' �:� shalUalew insurc all improvememx cm the Property,whethrr now i�exiwencc or sub.�equonlly erect¢d,againxt loss by flood.w
<br /> �:�ix�,.' �• to tFie extent requir+ed hy thc Secrutury. All insurance,hnll he carried with compunies upproved by Lender. The in�urance
<br /> '�� ' �'� policies ond any renewolti sha1P br held by Lender,uid sh�ll include losx payubk claus.:�e +n favar of, and in a fartn
<br /> �" � � '."r� acceptable ta.Lender.
<br /> ,�(� � � In thc event of losx, Borrower shall give lander immediate nolire by muil. Lender may make proof oi loss ii not
<br /> ''- , made promptly by Borrower. Euch insurunce comp:uiy cancemed i.hereby oulhorired und dineclad to muke payment for
<br /> �, • such loss directly to l.ender,in+tead of�o Borrower and ro Lender j�►intly. All ur uny purt of lha inxurance proceeds mAy be ,;_ .,
<br /> :s»;�,� � � • , applied hy Lender,at its option,either(a►to the reduction of thc indebtedne.�undcr 1hc Nola und this 5ecurity Inswment, �.,,.�
<br /> •''-r • . ' � first to any delinyuent amoants applicd in Ihc ordcr in ParagraQh 3, and Ihen to pmpuymun� of principal,or lb)to[he
<br /> '?:,. restorat+on or repair of the dnmaged pmperty. Any application ot the praerd.to thr princip•rf,hall na extend or povtpone '.
<br /> �� � thc due date of�he mornhly payments which sue refc�-ed tu in Paragr�ph 3,or chui�ge�he amuunt of'tiurb payments. Any
<br /> �•� � exCess insur.�tce prnceeds uver un umount nyuircd ro pay ull out+�nnding +ndeFtrdnr�.under thr No�e ancl rhig Security '--
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<br /> Inswment shnll be paid to th�entity legally enlillcd thercto. '
<br /> ' ' ' � !n the event of forcclosure of thiy Security Imtrument or ot{xr tran�frr of lidc�u thc Propeny �hut cxtingui,hcs thc �
<br /> :� � ' �''S;' • indebtedne5s,nll righl,title und intcrezt of Borrowrr in:uid lo in�ur•rncc�ilicic+in tittrc.hall pus�w lhc purchnser. ''' ''�
<br /> '.�n''� .. 5. Uccupanc�; Preserration. Mainlens�nce and Prutection oi the 1'ropert��; NnrroMe�'s Loan Applicntion;
<br /> „ I.easeholds. Borrower shull�cupy, e�tabli,h,unJ u.e thr Pro�x:rty a+ Bnm►wrr�principal r�aidence wilhin sixly duyti
<br /> " after the eaecution of this Securiry Insuument •rnd tihull cuntinue to�kcupy the Prupeny u.Barrnwer+principal retiidence
<br /> " . for al lenst one year nftcr�he datc of cxcup•rncy,unlen.thr Scrntary•d�tcmiin�.thir.r�yuirumrnt u•iU cuu�e unduc hurdship '
<br /> ,i• ,;, . for Borrower, or unletis extenualing cirrumtit:mrr� et�,t N•hich JR tx�•�md Eiurruwer� cnn�rul. Borr��wcr tihull notify `.
<br /> ° �' � Lcnden of s+ny extenuu�ing circumti�unrc.. Borcow�r.hull not commit wa.ic ur Je+tro��.damage or wbtil:mtiully change
<br /> .,'.l;.;, U�e Propeny or allow the Pruperty w Jrtrriurutr,rcu�onuhlr«car and trur rxcepted. LrnJrr m•ry in��cl the Property if the �Y
<br /> �;� ���;, Property is vacunt or abundoned��r th�I�►;�n i. in Jcfault. Lcndcr m+�� la6e R:�+an�hk urtion a�prut�cl�nd prrservc�urh
<br /> � •� : vacant or ab•rndoned I'ropeny. B��rruwrr.hull ul.a hr in Jef.lult il�Ri�rtu��er.Juring �h� loan•rpplicu�inn proce�r,gnve �
<br /> •� materiall� falre or inaccur.�h inf��rniutiun or .la�tmriu. �a l.�nJcr I��r 1'aileJ w provide Lender with any materinl
<br /> � i.�.
<br /> �.;�;;,. � informauon)in c�mncrlion with thr Ic�an rvidrnccJ hy Ihr N��t�. inrluJin�;,hut nat limi�rd�o, reprexcnt•rlions ronreming ;
<br /> !.'{s;:i.• ' . Bc>rtower i oc�upancy i�f the Propirt��.�+a prinripal rc�idrnrc. It'thi.ticcurn� In.�rumcnt i.on u leo,rh�►IJ.Bi�m,��rr shr.l) �
<br /> . i. • eamply with the provisions u(the Icu�e. If Horrowcr veyuirc.tee�tiUc�u�h�Prn�rty.thr I�a.rM�W and fcc title.hall nnt i .
<br /> � ' � -.�� • ' be merFed unlcss Lendcr aFrcc.�o thc mcrgcr in uriting. �
<br /> • : 6. Charges to&►rrower and Protection ui'I.rnder's RiRhls in Ihe Prnperh. Burrawrr+hall puy a01 guvcmmental �
<br /> or municipul chnrges,fines aixi impnsitium�h�t are n��t included in Putagr.�ph �. Hurru��et rh:�ll pa� thr+e obli�ation�on
<br /> i ame directly to the enti�y which iz owed�he paymcnt. If frilurc Ii� pa} anuld aJvrnel� uffict Lendrr� imrn+t in the E
<br /> � i � Property,upon Lender�reyucst Burrnwcr shull promptly turni.h tv l.�ndcr rcccipt�rvidenrinF ohe,c payments. ;
<br /> � If Borrower fails w make �hcx p:rymcnt�ur the p�)mrnt> rcquired hy F'�aragraph �,nr tailti to pert'ortn :u�y other �
<br /> covenants and ugreement.cuntained in thi+Srrurity In.trunrent,i�r thrn i�a le�:al pnxr�Yiin�thm may�ignificundy aftect �
<br /> � � �� I.enners nghts in[ee rropeny lsuen a�u prcxeedinF in nanicrup�cy Icx cnndemnution o�to eniorre iaw�ar mguiuti�m+1, •
<br /> ' - � ' '� � ' then Lender mn do nnd a whatcver i.ncrr+.a m rotcrl thc valur��f Ihr Pn� ny unJ Lrndcr�ri�ht.in the Pro rt
<br /> , „ Y p Y rY P P� b F►r Y.
<br /> including p•ryment af�:txe.,hw:�rd in+ur.�nre unJ i�lher item,mrntiunrd in F'urugraph 2.
<br /> Any amounls di+buncd by Lcmicr unJc�Ihi.Para�r.�ph+hall F+ccomr:u►aJditiannl Jrb1 uf Burruwcr:u�d Ix uwured
<br /> by lhis Security Instrumenl. Thcu:unount+,hall hrar mteR�t fnxn tlx da�c af Ji.lwr+ement.�t�he NMC rste,onJ at thr '
<br /> ,'"' � � •� option of Lencier,ahull be imtneJiately Jur and payuble.
<br /> • 7. Condemnation. 71�e pnxred.�if uny uw•ani ur cluim tiir Jam�ge..Jirrct ar cun.ryuenn•rl, in connection w ith any
<br /> � �� condemnation or othcr tuking of:uiy p:ut nC�hc 1'ru{xny,ur li�r rom•ev;mrr in plurr��(r��nJrmna�iun.;uti hcnby u..igncd
<br /> � ar�d shall be paid to l.rnder to�he rz�em af thc lull umaunt��f Ihr inJciHedi�e.+�hut nmain+unpuiJ under Ihr Nute anJ�hi.
<br /> �: . Security Inswment. L�ndcr,hull�pply wrh pnxced�tu thc rcdurtiun uf thr indcMrdnr+.unJrr Ihc N��tr;uid Ihi,Serunty
<br /> 7 jr Insttument, fint w any dclinyurnt umount. apphcJ in thc onle�pnwidrJ in P.�rr�raph 3, unJ thcn to prcpa�mrnl uf
<br /> r � , principal. Any applicuuun ul' thc procecJ.. w thr pnnripal �hull nut ett�nd ur pu.�pune Ih�Jue J•rte ot' thr mun�hl�
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